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塞拉尼斯（CE）与RXO, Inc.（RXO）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RXO, Inc.的1.5倍（$2.2B vs $1.5B），塞拉尼斯净利率更高（0.6% vs -3.1%，领先3.8%），塞拉尼斯同比增速更快（-7.0% vs -11.9%），塞拉尼斯自由现金流更多（$168.0M vs $-9.0M），过去两年RXO, Inc.的营收复合增速更高（26.8% 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。
RXO是总部位于美国的头部运输及物流解决方案供应商，核心业务覆盖货运经纪、大件商品最后一公里配送、运输管理服务与全链路供应链优化支持，主要服务北美制造业、零售业及电商领域的客户。
CE vs RXO — 直观对比
营收规模更大
CE
是对方的1.5倍
$1.5B
营收增速更快
CE
高出4.9%
-11.9%
净利率更高
CE
高出3.8%
-3.1%
自由现金流更多
CE
多$177.0M
$-9.0M
两年增速更快
RXO
近两年复合增速
-8.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.2B | $1.5B |
| 净利润 | $14.0M | $-46.0M |
| 毛利率 | 19.1% | — |
| 营业利润率 | 4.0% | -2.9% |
| 净利率 | 0.6% | -3.1% |
| 营收同比 | -7.0% | -11.9% |
| 净利润同比 | 100.7% | -84.0% |
| 每股收益（稀释后） | $0.13 | $-0.28 |
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CERXO
| Q4 25 | $2.2B | $1.5B | ||
| Q3 25 | $2.4B | $1.4B | ||
| Q2 25 | $2.5B | $1.4B | ||
| Q1 25 | $2.4B | $1.4B | ||
| Q4 24 | $2.4B | $1.7B | ||
| Q3 24 | $2.6B | $1.0B | ||
| Q2 24 | $2.7B | $930.0M | ||
| Q1 24 | $2.6B | $913.0M |
净利润CERXO
| Q4 25 | $14.0M | $-46.0M | ||
| Q3 25 | $-1.4B | $-14.0M | ||
| Q2 25 | $199.0M | $-9.0M | ||
| Q1 25 | $-21.0M | $-31.0M | ||
| Q4 24 | $-1.9B | $-25.0M | ||
| Q3 24 | $116.0M | $-243.0M | ||
| Q2 24 | $155.0M | $-7.0M | ||
| Q1 24 | $121.0M | $-15.0M |
毛利率CERXO
| Q4 25 | 19.1% | — | ||
| Q3 25 | 21.5% | — | ||
| Q2 25 | 21.1% | — | ||
| Q1 25 | 19.9% | — | ||
| Q4 24 | 22.7% | — | ||
| Q3 24 | 23.5% | — | ||
| Q2 24 | 24.2% | — | ||
| Q1 24 | 21.2% | — |
营业利润率CERXO
| Q4 25 | 4.0% | -2.9% | ||
| Q3 25 | -52.7% | -0.5% | ||
| Q2 25 | 9.2% | — | ||
| Q1 25 | 7.0% | -2.1% | ||
| Q4 24 | -59.3% | -1.4% | ||
| Q3 24 | 9.4% | -1.9% | ||
| Q2 24 | 9.4% | — | ||
| Q1 24 | 8.0% | -1.3% |
净利率CERXO
| Q4 25 | 0.6% | -3.1% | ||
| Q3 25 | -56.1% | -1.0% | ||
| Q2 25 | 7.9% | -0.6% | ||
| Q1 25 | -0.9% | -2.2% | ||
| Q4 24 | -80.8% | -1.5% | ||
| Q3 24 | 4.4% | -23.4% | ||
| Q2 24 | 5.8% | -0.8% | ||
| Q1 24 | 4.6% | -1.6% |
每股收益（稀释后）CERXO
| Q4 25 | $0.13 | $-0.28 | ||
| Q3 25 | $-12.39 | $-0.08 | ||
| Q2 25 | $1.81 | $-0.05 | ||
| Q1 25 | $-0.19 | $-0.18 | ||
| Q4 24 | $-17.50 | $-0.17 | ||
| Q3 24 | $1.06 | $-1.81 | ||
| Q2 24 | $1.41 | $-0.06 | ||
| Q1 24 | $1.10 | $-0.13 |
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 | — | $17.0M |
| 总债务越低越好 | $11.4B | $387.0M |
| 股东权益账面价值 | $4.0B | $1.5B |
| 总资产 | $21.7B | $3.3B |
| 负债/权益比越低杠杆越低 | 2.81× | 0.25× |
8季度趋势，按日历期对齐
现金及短期投资CERXO
| Q4 25 | — | $17.0M | ||
| Q3 25 | — | $25.0M | ||
| Q2 25 | — | $18.0M | ||
| Q1 25 | — | $16.0M | ||
| Q4 24 | — | $35.0M | ||
| Q3 24 | — | $55.0M | ||
| Q2 24 | — | $7.0M | ||
| Q1 24 | — | $7.0M |
总债务CERXO
| Q4 25 | $11.4B | $387.0M | ||
| Q3 25 | $11.7B | $387.0M | ||
| Q2 25 | $12.7B | $387.0M | ||
| Q1 25 | $12.4B | $387.0M | ||
| Q4 24 | $11.1B | $351.0M | ||
| Q3 24 | $11.3B | $352.0M | ||
| Q2 24 | $11.1B | $370.0M | ||
| Q1 24 | $11.0B | $351.0M |
股东权益CERXO
| Q4 25 | $4.0B | $1.5B | ||
| Q3 25 | $4.0B | $1.6B | ||
| Q2 25 | $5.3B | $1.6B | ||
| Q1 25 | $5.2B | $1.6B | ||
| Q4 24 | $5.2B | $1.6B | ||
| Q3 24 | $7.3B | $1.7B | ||
| Q2 24 | $7.2B | $579.0M | ||
| Q1 24 | $7.1B | $582.0M |
总资产CERXO
| Q4 25 | $21.7B | $3.3B | ||
| Q3 25 | $22.2B | $3.2B | ||
| Q2 25 | $23.7B | $3.2B | ||
| Q1 25 | $23.2B | $3.3B | ||
| Q4 24 | $22.9B | $3.4B | ||
| Q3 24 | $25.9B | $3.4B | ||
| Q2 24 | $25.8B | $1.8B | ||
| Q1 24 | $26.0B | $1.8B |
负债/权益比CERXO
| Q4 25 | 2.81× | 0.25× | ||
| Q3 25 | 2.95× | 0.24× | ||
| Q2 25 | 2.41× | 0.24× | ||
| Q1 25 | 2.39× | 0.24× | ||
| Q4 24 | 2.14× | 0.22× | ||
| Q3 24 | 1.56× | 0.21× | ||
| Q2 24 | 1.54× | 0.64× | ||
| Q1 24 | 1.56× | 0.60× |
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 | $7.0M |
| 自由现金流经营现金流 - 资本支出 | $168.0M | $-9.0M |
| 自由现金流率自由现金流/营收 | 7.6% | -0.6% |
| 资本支出强度资本支出/营收 | 3.8% | 1.1% |
| 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 | $-8.0M |
8季度趋势，按日历期对齐
经营现金流CERXO
| Q4 25 | $252.0M | $7.0M | ||
| Q3 25 | $447.0M | $23.0M | ||
| Q2 25 | $410.0M | $23.0M | ||
| Q1 25 | $37.0M | $-2.0M | ||
| Q4 24 | $494.0M | $-7.0M | ||
| Q3 24 | $79.0M | $-7.0M | ||
| Q2 24 | $292.0M | $-5.0M | ||
| Q1 24 | $101.0M | $7.0M |
自由现金流CERXO
| Q4 25 | $168.0M | $-9.0M | ||
| Q3 25 | $383.0M | $9.0M | ||
| Q2 25 | $317.0M | $9.0M | ||
| Q1 25 | $-65.0M | $-17.0M | ||
| Q4 24 | $389.0M | $-19.0M | ||
| Q3 24 | $-9.0M | $-18.0M | ||
| Q2 24 | $187.0M | $-16.0M | ||
| Q1 24 | $-36.0M | $-4.0M |
自由现金流率CERXO
| Q4 25 | 7.6% | -0.6% | ||
| Q3 25 | 15.8% | 0.6% | ||
| Q2 25 | 12.5% | 0.6% | ||
| Q1 25 | -2.7% | -1.2% | ||
| Q4 24 | 16.4% | -1.1% | ||
| Q3 24 | -0.3% | -1.7% | ||
| Q2 24 | 7.1% | -1.7% | ||
| Q1 24 | -1.4% | -0.4% |
资本支出强度CERXO
| Q4 25 | 3.8% | 1.1% | ||
| Q3 25 | 2.6% | 1.0% | ||
| Q2 25 | 3.7% | 1.0% | ||
| Q1 25 | 4.3% | 1.0% | ||
| Q4 24 | 4.4% | 0.7% | ||
| Q3 24 | 3.3% | 1.1% | ||
| Q2 24 | 4.0% | 1.2% | ||
| Q1 24 | 5.2% | 1.2% |
现金转化率CERXO
| 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% |
RXO
| Retail Sector | $546.0M | 37% |
| Last Mile | $298.0M | 20% |
| Food And Beverage Sector | $225.0M | 15% |
| Other Sector | $185.0M | 13% |
| Managed Transportation | $133.0M | 9% |
| Automotive Sector | $93.0M | 6% |
