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塞拉尼斯（CE）与普尔斯马特（PSMT）财务数据对比。点击上方公司名可切换其他公司
塞拉尼斯的季度营收约是普尔斯马特的1.6倍（$2.2B vs $1.4B），普尔斯马特净利率更高（2.9% vs 0.6%，领先2.3%），普尔斯马特同比增速更快（9.9% vs -7.0%），塞拉尼斯自由现金流更多（$168.0M vs $32.6M），过去两年普尔斯马特的营收复合增速更高（3.5% vs -8.1%）
塞拉尼斯是总部位于美国得克萨斯州欧文市的技术及特种材料企业，位列财富500强。公司是全球醋酸行业领军生产商，年产量约195万吨，占全球总产量的20%左右，同时也是全球最大的醋酸乙烯酯单体（VAM）供应商。
PriceSmart（普尔斯马特）是一家美资会员制仓储商超运营商，业务覆盖中美洲、加勒比地区及南美洲。公司由Price Club的创立者索尔·普莱斯与罗伯特·普莱斯共同创办，罗伯特·普莱斯现任董事会主席。
CE vs PSMT — 直观对比
营收规模更大
CE
是对方的1.6倍
$1.4B
营收增速更快
PSMT
高出16.9%
-7.0%
净利率更高
PSMT
高出2.3%
0.6%
自由现金流更多
CE
多$135.4M
$32.6M
两年增速更快
PSMT
近两年复合增速
-8.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.2B | $1.4B |
| 净利润 | $14.0M | $40.2M |
| 毛利率 | 19.1% | 17.7% |
| 营业利润率 | 4.0% | 4.6% |
| 净利率 | 0.6% | 2.9% |
| 营收同比 | -7.0% | 9.9% |
| 净利润同比 | 100.7% | 7.3% |
| 每股收益（稀释后） | $0.13 | $1.29 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收CEPSMT
| Q4 25 | $2.2B | $1.4B | ||
| Q3 25 | $2.4B | $1.3B | ||
| Q2 25 | $2.5B | $1.3B | ||
| Q1 25 | $2.4B | $1.4B | ||
| Q4 24 | $2.4B | $1.3B | ||
| Q3 24 | $2.6B | $1.2B | ||
| Q2 24 | $2.7B | $1.2B | ||
| Q1 24 | $2.6B | $1.3B |
净利润CEPSMT
| Q4 25 | $14.0M | $40.2M | ||
| Q3 25 | $-1.4B | $31.5M | ||
| Q2 25 | $199.0M | $35.2M | ||
| Q1 25 | $-21.0M | $43.8M | ||
| Q4 24 | $-1.9B | $37.4M | ||
| Q3 24 | $116.0M | $29.1M | ||
| Q2 24 | $155.0M | $32.5M | ||
| Q1 24 | $121.0M | $39.3M |
毛利率CEPSMT
| Q4 25 | 19.1% | 17.7% | ||
| Q3 25 | 21.5% | — | ||
| Q2 25 | 21.1% | — | ||
| Q1 25 | 19.9% | 17.1% | ||
| Q4 24 | 22.7% | 17.4% | ||
| Q3 24 | 23.5% | — | ||
| Q2 24 | 24.2% | — | ||
| Q1 24 | 21.2% | — |
营业利润率CEPSMT
| Q4 25 | 4.0% | 4.6% | ||
| Q3 25 | -52.7% | 4.0% | ||
| Q2 25 | 9.2% | 4.3% | ||
| Q1 25 | 7.0% | 4.8% | ||
| Q4 24 | -59.3% | 4.6% | ||
| Q3 24 | 9.4% | 4.0% | ||
| Q2 24 | 9.4% | 4.1% | ||
| Q1 24 | 8.0% | 4.9% |
净利率CEPSMT
| Q4 25 | 0.6% | 2.9% | ||
| Q3 25 | -56.1% | 2.4% | ||
| Q2 25 | 7.9% | 2.7% | ||
| Q1 25 | -0.9% | 3.2% | ||
| Q4 24 | -80.8% | 3.0% | ||
| Q3 24 | 4.4% | 2.4% | ||
| Q2 24 | 5.8% | 2.6% | ||
| Q1 24 | 4.6% | 3.0% |
每股收益（稀释后）CEPSMT
| Q4 25 | $0.13 | $1.29 | ||
| Q3 25 | $-12.39 | $1.02 | ||
| Q2 25 | $1.81 | $1.14 | ||
| Q1 25 | $-0.19 | $1.45 | ||
| Q4 24 | $-17.50 | $1.21 | ||
| Q3 24 | $1.06 | $0.94 | ||
| Q2 24 | $1.41 | $1.08 | ||
| Q1 24 | $1.10 | $1.31 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | — | $320.6M |
| 总债务越低越好 | $11.4B | $180.3M |
| 股东权益账面价值 | $4.0B | $1.3B |
| 总资产 | $21.7B | $2.4B |
| 负债/权益比越低杠杆越低 | 2.81× | 0.14× |
8季度趋势，按日历期对齐
现金及短期投资CEPSMT
| Q4 25 | — | $320.6M | ||
| Q3 25 | — | $314.2M | ||
| Q2 25 | — | $262.4M | ||
| Q1 25 | — | $247.3M | ||
| Q4 24 | — | $222.2M | ||
| Q3 24 | — | $225.5M | ||
| Q2 24 | — | $228.2M | ||
| Q1 24 | — | $264.2M |
总债务CEPSMT
| Q4 25 | $11.4B | $180.3M | ||
| Q3 25 | $11.7B | $186.6M | ||
| Q2 25 | $12.7B | $103.1M | ||
| Q1 25 | $12.4B | $107.1M | ||
| Q4 24 | $11.1B | $115.6M | ||
| Q3 24 | $11.3B | $130.4M | ||
| Q2 24 | $11.1B | $135.1M | ||
| Q1 24 | $11.0B | $140.0M |
股东权益CEPSMT
| Q4 25 | $4.0B | $1.3B | ||
| Q3 25 | $4.0B | $1.2B | ||
| Q2 25 | $5.3B | $1.2B | ||
| Q1 25 | $5.2B | $1.2B | ||
| Q4 24 | $5.2B | $1.2B | ||
| Q3 24 | $7.3B | $1.1B | ||
| Q2 24 | $7.2B | $1.1B | ||
| Q1 24 | $7.1B | $1.1B |
总资产CEPSMT
| Q4 25 | $21.7B | $2.4B | ||
| Q3 25 | $22.2B | $2.3B | ||
| Q2 25 | $23.7B | $2.1B | ||
| Q1 25 | $23.2B | $2.1B | ||
| Q4 24 | $22.9B | $2.1B | ||
| Q3 24 | $25.9B | $2.0B | ||
| Q2 24 | $25.8B | $2.0B | ||
| Q1 24 | $26.0B | $2.0B |
负债/权益比CEPSMT
| Q4 25 | 2.81× | 0.14× | ||
| Q3 25 | 2.95× | 0.15× | ||
| Q2 25 | 2.41× | 0.08× | ||
| Q1 25 | 2.39× | 0.09× | ||
| Q4 24 | 2.14× | 0.10× | ||
| Q3 24 | 1.56× | 0.12× | ||
| Q2 24 | 1.54× | 0.12× | ||
| Q1 24 | 1.56× | 0.13× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $252.0M | $71.2M |
| 自由现金流经营现金流 - 资本支出 | $168.0M | $32.6M |
| 自由现金流率自由现金流/营收 | 7.6% | 2.4% |
| 资本支出强度资本支出/营收 | 3.8% | 2.8% |
| 现金转化率经营现金流/净利润 | 18.00× | 1.77× |
| 过去12个月自由现金流最近4个季度 | $803.0M | $125.5M |
8季度趋势，按日历期对齐
经营现金流CEPSMT
| Q4 25 | $252.0M | $71.2M | ||
| Q3 25 | $447.0M | $82.1M | ||
| Q2 25 | $410.0M | $52.8M | ||
| Q1 25 | $37.0M | $87.9M | ||
| Q4 24 | $494.0M | $38.5M | ||
| Q3 24 | $79.0M | $41.8M | ||
| Q2 24 | $292.0M | $38.1M | ||
| Q1 24 | $101.0M | $86.6M |
自由现金流CEPSMT
| Q4 25 | $168.0M | $32.6M | ||
| Q3 25 | $383.0M | $25.6M | ||
| Q2 25 | $317.0M | $14.0M | ||
| Q1 25 | $-65.0M | $53.2M | ||
| Q4 24 | $389.0M | $10.3M | ||
| Q3 24 | $-9.0M | $15.2M | ||
| Q2 24 | $187.0M | $-308.0K | ||
| Q1 24 | $-36.0M | $16.4M |
自由现金流率CEPSMT
| Q4 25 | 7.6% | 2.4% | ||
| Q3 25 | 15.8% | 1.9% | ||
| Q2 25 | 12.5% | 1.1% | ||
| Q1 25 | -2.7% | 3.9% | ||
| Q4 24 | 16.4% | 0.8% | ||
| Q3 24 | -0.3% | 1.2% | ||
| Q2 24 | 7.1% | -0.0% | ||
| Q1 24 | -1.4% | 1.3% |
资本支出强度CEPSMT
| Q4 25 | 3.8% | 2.8% | ||
| Q3 25 | 2.6% | 4.2% | ||
| Q2 25 | 3.7% | 2.9% | ||
| Q1 25 | 4.3% | 2.5% | ||
| Q4 24 | 4.4% | 2.2% | ||
| Q3 24 | 3.3% | 2.2% | ||
| Q2 24 | 4.0% | 3.1% | ||
| Q1 24 | 5.2% | 5.4% |
现金转化率CEPSMT
| Q4 25 | 18.00× | 1.77× | ||
| Q3 25 | — | 2.60× | ||
| Q2 25 | 2.06× | 1.50× | ||
| Q1 25 | — | 2.01× | ||
| Q4 24 | — | 1.03× | ||
| Q3 24 | 0.68× | 1.44× | ||
| Q2 24 | 1.88× | 1.17× | ||
| Q1 24 | 0.83× | 2.20× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
CE
| Engineered Materials | $1.3B | 58% |
| Acetyl Chain | $940.0M | 43% |
PSMT
| Fresh Foods | $454.9M | 33% |
| Caribbean Operations Segment | $396.5M | 29% |
| Colombia Operations Segment | $204.1M | 15% |
| Hardlines | $162.6M | 12% |
| Softlines | $99.8M | 7% |
| ship Income Member | $24.5M | 2% |
| Health Services | $14.5M | 1% |
| Other Revenue And Income | $4.2M | 0% |
| United States Operations Segment | $510.0K | 0% |
| Export Sales | $359.0K | 0% |
