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塞拉尼斯（CE）与史密斯菲尔德食品（SFD）财务数据对比。点击上方公司名可切换其他公司
史密斯菲尔德食品的季度营收约是塞拉尼斯的1.7倍（$3.8B vs $2.2B），史密斯菲尔德食品净利率更高（6.6% vs 0.6%，领先5.9%），史密斯菲尔德食品同比增速更快（0.8% vs -7.0%），过去两年史密斯菲尔德食品的营收复合增速更高（5.5% 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。
史密斯菲尔德食品是全球规模最大的生猪养殖与猪肉加工企业，1936年由卢特父子创立，总部位于美国弗吉尼亚州史密斯菲尔德，现隶属于香港企业。公司在美国自营超500个农场，还与2000余家独立农场合作养殖生猪，业务覆盖墨西哥、波兰、德国等多个海外市场。
CE vs SFD — 直观对比
营收规模更大
SFD
是对方的1.7倍
$2.2B
营收增速更快
SFD
高出7.8%
-7.0%
净利率更高
SFD
高出5.9%
0.6%
两年增速更快
SFD
近两年复合增速
-8.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.2B | $3.8B |
| 净利润 | $14.0M | $249.0M |
| 毛利率 | 19.1% | 13.4% |
| 营业利润率 | 4.0% | 8.8% |
| 净利率 | 0.6% | 6.6% |
| 营收同比 | -7.0% | 0.8% |
| 净利润同比 | 100.7% | 9.7% |
| 每股收益（稀释后） | $0.13 | — |
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CESFD
| Q1 26 | — | $3.8B | ||
| Q4 25 | $2.2B | $4.2B | ||
| Q3 25 | $2.4B | $3.7B | ||
| Q2 25 | $2.5B | $3.8B | ||
| Q1 25 | $2.4B | $3.8B | ||
| Q4 24 | $2.4B | $4.0B | ||
| Q3 24 | $2.6B | $3.3B | ||
| Q2 24 | $2.7B | $3.4B |
净利润CESFD
| Q1 26 | — | $249.0M | ||
| Q4 25 | $14.0M | $327.0M | ||
| Q3 25 | $-1.4B | $248.0M | ||
| Q2 25 | $199.0M | $188.0M | ||
| Q1 25 | $-21.0M | $224.0M | ||
| Q4 24 | $-1.9B | $205.0M | ||
| Q3 24 | $116.0M | $291.0M | ||
| Q2 24 | $155.0M | $301.0M |
毛利率CESFD
| Q1 26 | — | 13.4% | ||
| Q4 25 | 19.1% | 14.2% | ||
| Q3 25 | 21.5% | 12.8% | ||
| Q2 25 | 21.1% | 13.2% | ||
| Q1 25 | 19.9% | 13.5% | ||
| Q4 24 | 22.7% | 13.5% | ||
| Q3 24 | 23.5% | 14.3% | ||
| Q2 24 | 24.2% | 15.4% |
营业利润率CESFD
| Q1 26 | — | 8.8% | ||
| Q4 25 | 4.0% | 9.5% | ||
| Q3 25 | -52.7% | 8.3% | ||
| Q2 25 | 9.2% | 6.9% | ||
| Q1 25 | 7.0% | 8.5% | ||
| Q4 24 | -59.3% | 8.5% | ||
| Q3 24 | 9.4% | 8.5% | ||
| Q2 24 | 9.4% | 9.8% |
净利率CESFD
| Q1 26 | — | 6.6% | ||
| Q4 25 | 0.6% | 7.7% | ||
| Q3 25 | -56.1% | 6.6% | ||
| Q2 25 | 7.9% | 5.0% | ||
| Q1 25 | -0.9% | 5.9% | ||
| Q4 24 | -80.8% | 5.2% | ||
| Q3 24 | 4.4% | 8.7% | ||
| Q2 24 | 5.8% | 8.8% |
每股收益（稀释后）CESFD
| Q1 26 | — | — | ||
| Q4 25 | $0.13 | $0.83 | ||
| Q3 25 | $-12.39 | $0.63 | ||
| Q2 25 | $1.81 | $0.48 | ||
| Q1 25 | $-0.19 | $0.57 | ||
| Q4 24 | $-17.50 | $0.54 | ||
| Q3 24 | $1.06 | $0.77 | ||
| Q2 24 | $1.41 | $0.79 |
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 | — | $1.4B |
| 总债务越低越好 | $11.4B | — |
| 股东权益账面价值 | $4.0B | $6.9B |
| 总资产 | $21.7B | $12.0B |
| 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CESFD
| Q1 26 | — | $1.4B | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
总债务CESFD
| Q1 26 | — | — | ||
| Q4 25 | $11.4B | $2.0B | ||
| Q3 25 | $11.7B | $2.0B | ||
| Q2 25 | $12.7B | $2.0B | ||
| Q1 25 | $12.4B | $2.0B | ||
| Q4 24 | $11.1B | $2.0B | ||
| Q3 24 | $11.3B | — | ||
| Q2 24 | $11.1B | — |
股东权益CESFD
| Q1 26 | — | $6.9B | ||
| Q4 25 | $4.0B | $6.8B | ||
| Q3 25 | $4.0B | $6.5B | ||
| Q2 25 | $5.3B | $6.3B | ||
| Q1 25 | $5.2B | $6.2B | ||
| Q4 24 | $5.2B | $5.8B | ||
| Q3 24 | $7.3B | — | ||
| Q2 24 | $7.2B | — |
总资产CESFD
| Q1 26 | — | $12.0B | ||
| Q4 25 | $21.7B | $12.2B | ||
| Q3 25 | $22.2B | $11.5B | ||
| Q2 25 | $23.7B | $11.2B | ||
| Q1 25 | $23.2B | $11.1B | ||
| Q4 24 | $22.9B | $11.1B | ||
| Q3 24 | $25.9B | — | ||
| Q2 24 | $25.8B | — |
负债/权益比CESFD
| Q1 26 | — | — | ||
| Q4 25 | 2.81× | 0.29× | ||
| Q3 25 | 2.95× | 0.31× | ||
| Q2 25 | 2.41× | 0.32× | ||
| Q1 25 | 2.39× | 0.32× | ||
| Q4 24 | 2.14× | 0.34× | ||
| Q3 24 | 1.56× | — | ||
| Q2 24 | 1.54× | — |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $168.0M | — |
| 自由现金流率自由现金流/营收 | 7.6% | — |
| 资本支出强度资本支出/营收 | 3.8% | 2.3% |
| 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季度趋势，按日历期对齐
经营现金流CESFD
| Q1 26 | — | — | ||
| Q4 25 | $252.0M | $938.0M | ||
| Q3 25 | $447.0M | $13.0M | ||
| Q2 25 | $410.0M | $274.0M | ||
| Q1 25 | $37.0M | $-166.0M | ||
| Q4 24 | $494.0M | — | ||
| Q3 24 | $79.0M | — | ||
| Q2 24 | $292.0M | — |
自由现金流CESFD
| Q1 26 | — | — | ||
| Q4 25 | $168.0M | $842.0M | ||
| Q3 25 | $383.0M | $-75.0M | ||
| Q2 25 | $317.0M | $196.0M | ||
| Q1 25 | $-65.0M | $-245.0M | ||
| Q4 24 | $389.0M | — | ||
| Q3 24 | $-9.0M | — | ||
| Q2 24 | $187.0M | — |
自由现金流率CESFD
| Q1 26 | — | — | ||
| Q4 25 | 7.6% | 19.9% | ||
| Q3 25 | 15.8% | -2.0% | ||
| Q2 25 | 12.5% | 5.2% | ||
| Q1 25 | -2.7% | -6.5% | ||
| Q4 24 | 16.4% | — | ||
| Q3 24 | -0.3% | — | ||
| Q2 24 | 7.1% | — |
资本支出强度CESFD
| Q1 26 | — | 2.3% | ||
| Q4 25 | 3.8% | 2.3% | ||
| Q3 25 | 2.6% | 2.3% | ||
| Q2 25 | 3.7% | 2.1% | ||
| Q1 25 | 4.3% | 2.1% | ||
| Q4 24 | 4.4% | 2.1% | ||
| Q3 24 | 3.3% | 2.8% | ||
| Q2 24 | 4.0% | 2.3% |
现金转化率CESFD
| Q1 26 | — | — | ||
| Q4 25 | 18.00× | 2.87× | ||
| Q3 25 | — | 0.05× | ||
| Q2 25 | 2.06× | 1.46× | ||
| Q1 25 | — | -0.74× | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.68× | — | ||
| Q2 24 | 1.88× | — |
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% |
SFD
暂无分部数据
