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塞拉尼斯（CE）与Rivian Automotive, Inc.（RIVN）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Rivian Automotive, Inc.的1.7倍（$2.2B vs $1.3B），塞拉尼斯净利率更高（0.6% vs -63.1%，领先63.7%），塞拉尼斯同比增速更快（-7.0% vs -25.8%），塞拉尼斯自由现金流更多（$168.0M vs $-1.1B），过去两年Rivian Automotive, Inc.的营收复合增速更高（3.3% 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。
Rivian Automotive是2009年成立的美国电动汽车制造商及汽车科技企业，主打基于自研滑板平台打造的电动SUV、皮卡及EDV电动配送货车，旗下R1T皮卡于2021年末正式开启交付，还计划于2023年底前在美国和加拿大布局专属充电网络，其平台可适配新车型也可对外授权使用。
CE vs RIVN — 直观对比
营收规模更大
CE
是对方的1.7倍
$1.3B
营收增速更快
CE
高出18.8%
-25.8%
净利率更高
CE
高出63.7%
-63.1%
自由现金流更多
CE
多$1.3B
$-1.1B
两年增速更快
RIVN
近两年复合增速
-8.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.2B | $1.3B |
| 净利润 | $14.0M | $-811.0M |
| 毛利率 | 19.1% | 9.3% |
| 营业利润率 | 4.0% | -64.8% |
| 净利率 | 0.6% | -63.1% |
| 营收同比 | -7.0% | -25.8% |
| 净利润同比 | 100.7% | -9.0% |
| 每股收益（稀释后） | $0.13 | $-0.66 |
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CERIVN
| Q4 25 | $2.2B | $1.3B | ||
| Q3 25 | $2.4B | $1.6B | ||
| Q2 25 | $2.5B | $1.3B | ||
| Q1 25 | $2.4B | $1.2B | ||
| Q4 24 | $2.4B | $1.7B | ||
| Q3 24 | $2.6B | $874.0M | ||
| Q2 24 | $2.7B | $1.2B | ||
| Q1 24 | $2.6B | $1.2B |
净利润CERIVN
| Q4 25 | $14.0M | $-811.0M | ||
| Q3 25 | $-1.4B | $-1.2B | ||
| Q2 25 | $199.0M | $-1.1B | ||
| Q1 25 | $-21.0M | $-545.0M | ||
| Q4 24 | $-1.9B | $-744.0M | ||
| Q3 24 | $116.0M | $-1.1B | ||
| Q2 24 | $155.0M | $-1.5B | ||
| Q1 24 | $121.0M | $-1.4B |
毛利率CERIVN
| Q4 25 | 19.1% | 9.3% | ||
| Q3 25 | 21.5% | 1.5% | ||
| Q2 25 | 21.1% | -15.8% | ||
| Q1 25 | 19.9% | 16.6% | ||
| Q4 24 | 22.7% | 9.8% | ||
| Q3 24 | 23.5% | -44.9% | ||
| Q2 24 | 24.2% | -38.9% | ||
| Q1 24 | 21.2% | -43.8% |
营业利润率CERIVN
| Q4 25 | 4.0% | -64.8% | ||
| Q3 25 | -52.7% | -63.1% | ||
| Q2 25 | 9.2% | -85.5% | ||
| Q1 25 | 7.0% | -52.8% | ||
| Q4 24 | -59.3% | -38.1% | ||
| Q3 24 | 9.4% | -133.8% | ||
| Q2 24 | 9.4% | -118.7% | ||
| Q1 24 | 8.0% | -123.3% |
净利率CERIVN
| Q4 25 | 0.6% | -63.1% | ||
| Q3 25 | -56.1% | -75.3% | ||
| Q2 25 | 7.9% | -85.7% | ||
| Q1 25 | -0.9% | -44.0% | ||
| Q4 24 | -80.8% | -42.9% | ||
| Q3 24 | 4.4% | -125.9% | ||
| Q2 24 | 5.8% | -125.8% | ||
| Q1 24 | 4.6% | -120.1% |
每股收益（稀释后）CERIVN
| Q4 25 | $0.13 | $-0.66 | ||
| Q3 25 | $-12.39 | $-0.96 | ||
| Q2 25 | $1.81 | $-0.97 | ||
| Q1 25 | $-0.19 | $-0.48 | ||
| Q4 24 | $-17.50 | $-0.67 | ||
| Q3 24 | $1.06 | $-1.08 | ||
| Q2 24 | $1.41 | $-1.46 | ||
| Q1 24 | $1.10 | $-1.48 |
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 | — | $6.1B |
| 总债务越低越好 | $11.4B | — |
| 股东权益账面价值 | $4.0B | $4.6B |
| 总资产 | $21.7B | $14.9B |
| 负债/权益比越低杠杆越低 | 2.81× | — |
8季度趋势，按日历期对齐
现金及短期投资CERIVN
| Q4 25 | — | $6.1B | ||
| Q3 25 | — | $7.1B | ||
| Q2 25 | — | $7.5B | ||
| Q1 25 | — | $7.2B | ||
| Q4 24 | — | $7.7B | ||
| Q3 24 | — | $6.7B | ||
| Q2 24 | — | $7.9B | ||
| Q1 24 | — | $7.9B |
总债务CERIVN
| Q4 25 | $11.4B | — | ||
| Q3 25 | $11.7B | — | ||
| Q2 25 | $12.7B | — | ||
| Q1 25 | $12.4B | — | ||
| Q4 24 | $11.1B | — | ||
| Q3 24 | $11.3B | — | ||
| Q2 24 | $11.1B | $5.5B | ||
| Q1 24 | $11.0B | $4.4B |
股东权益CERIVN
| Q4 25 | $4.0B | $4.6B | ||
| Q3 25 | $4.0B | $5.1B | ||
| Q2 25 | $5.3B | $6.1B | ||
| Q1 25 | $5.2B | $6.2B | ||
| Q4 24 | $5.2B | $6.6B | ||
| Q3 24 | $7.3B | $5.9B | ||
| Q2 24 | $7.2B | $6.8B | ||
| Q1 24 | $7.1B | $8.1B |
总资产CERIVN
| Q4 25 | $21.7B | $14.9B | ||
| Q3 25 | $22.2B | $15.2B | ||
| Q2 25 | $23.7B | $15.6B | ||
| Q1 25 | $23.2B | $15.5B | ||
| Q4 24 | $22.9B | $15.4B | ||
| Q3 24 | $25.9B | $14.3B | ||
| Q2 24 | $25.8B | $15.4B | ||
| Q1 24 | $26.0B | $15.7B |
负债/权益比CERIVN
| Q4 25 | 2.81× | — | ||
| Q3 25 | 2.95× | — | ||
| Q2 25 | 2.41× | — | ||
| Q1 25 | 2.39× | — | ||
| Q4 24 | 2.14× | — | ||
| Q3 24 | 1.56× | — | ||
| Q2 24 | 1.54× | 0.81× | ||
| Q1 24 | 1.56× | 0.55× |
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 | $-681.0M |
| 自由现金流经营现金流 - 资本支出 | $168.0M | $-1.1B |
| 自由现金流率自由现金流/营收 | 7.6% | -89.0% |
| 资本支出强度资本支出/营收 | 3.8% | 36.0% |
| 现金转化率经营现金流/净利润 | 18.00× | — |
| 过去12个月自由现金流最近4个季度 | $803.0M | $-2.5B |
8季度趋势，按日历期对齐
经营现金流CERIVN
| Q4 25 | $252.0M | $-681.0M | ||
| Q3 25 | $447.0M | $26.0M | ||
| Q2 25 | $410.0M | $64.0M | ||
| Q1 25 | $37.0M | $-188.0M | ||
| Q4 24 | $494.0M | $1.2B | ||
| Q3 24 | $79.0M | $-876.0M | ||
| Q2 24 | $292.0M | $-754.0M | ||
| Q1 24 | $101.0M | $-1.3B |
自由现金流CERIVN
| Q4 25 | $168.0M | $-1.1B | ||
| Q3 25 | $383.0M | $-421.0M | ||
| Q2 25 | $317.0M | $-398.0M | ||
| Q1 25 | $-65.0M | $-526.0M | ||
| Q4 24 | $389.0M | $856.0M | ||
| Q3 24 | $-9.0M | $-1.2B | ||
| Q2 24 | $187.0M | $-1.0B | ||
| Q1 24 | $-36.0M | $-1.5B |
自由现金流率CERIVN
| Q4 25 | 7.6% | -89.0% | ||
| Q3 25 | 15.8% | -27.0% | ||
| Q2 25 | 12.5% | -30.5% | ||
| Q1 25 | -2.7% | -42.4% | ||
| Q4 24 | 16.4% | 49.4% | ||
| Q3 24 | -0.3% | -131.9% | ||
| Q2 24 | 7.1% | -89.6% | ||
| Q1 24 | -1.4% | -126.5% |
资本支出强度CERIVN
| Q4 25 | 3.8% | 36.0% | ||
| Q3 25 | 2.6% | 28.7% | ||
| Q2 25 | 3.7% | 35.5% | ||
| Q1 25 | 4.3% | 27.3% | ||
| Q4 24 | 4.4% | 18.9% | ||
| Q3 24 | 3.3% | 31.7% | ||
| Q2 24 | 4.0% | 24.4% | ||
| Q1 24 | 5.2% | 21.1% |
现金转化率CERIVN
| Q4 25 | 18.00× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 2.06× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.68× | — | ||
| Q2 24 | 1.88× | — | ||
| Q1 24 | 0.83× | — |
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% |
RIVN
| Automotive Segment | $839.0M | 65% |
| Software And Services Segment | $447.0M | 35% |
| Regulatory Credits | $30.0M | 2% |
