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塞拉尼斯（CE）与凯旋（TFIN）财务数据对比。点击上方公司名可切换其他公司
凯旋的季度营收约是塞拉尼斯的1.1倍（$2.4B vs $2.2B），塞拉尼斯净利率更高（0.6% vs 0.3%，领先0.4%），凯旋同比增速更快（2.6% vs -7.0%），过去两年凯旋的营收复合增速更高（377.6% 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。
凯旋汽车公司是19至20世纪活跃于英国的汽车与发动机制造企业，品牌起源可追溯到1885年。来自纽伦堡的齐格弗里德·贝特曼在伦敦成立公司，最初从欧洲进口自行车以自有商标销售，次年商标正式定为“凯旋”，1889年开始自主生产自行车。
CE vs TFIN — 直观对比
营收规模更大
TFIN
是对方的1.1倍
$2.2B
营收增速更快
TFIN
高出9.6%
-7.0%
净利率更高
CE
高出0.4%
0.3%
两年增速更快
TFIN
近两年复合增速
-8.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.2B | $2.4B |
| 净利润 | $14.0M | $6.4M |
| 毛利率 | 19.1% | 86.1% |
| 营业利润率 | 4.0% | — |
| 净利率 | 0.6% | 0.3% |
| 营收同比 | -7.0% | 2.6% |
| 净利润同比 | 100.7% | -66.9% |
| 每股收益（稀释后） | $0.13 | $0.23 |
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CETFIN
| Q1 26 | — | $2.4B | ||
| Q4 25 | $2.2B | $120.1M | ||
| Q3 25 | $2.4B | $109.3M | ||
| Q2 25 | $2.5B | $108.1M | ||
| Q1 25 | $2.4B | $101.6M | ||
| Q4 24 | $2.4B | $103.6M | ||
| Q3 24 | $2.6B | $106.2M | ||
| Q2 24 | $2.7B | $105.1M |
净利润CETFIN
| Q1 26 | — | $6.4M | ||
| Q4 25 | $14.0M | — | ||
| Q3 25 | $-1.4B | $1.7M | ||
| Q2 25 | $199.0M | $4.4M | ||
| Q1 25 | $-21.0M | $17.0K | ||
| Q4 24 | $-1.9B | $3.8M | ||
| Q3 24 | $116.0M | $5.3M | ||
| Q2 24 | $155.0M | $2.7M |
毛利率CETFIN
| Q1 26 | — | 86.1% | ||
| 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% | — |
营业利润率CETFIN
| Q1 26 | — | — | ||
| Q4 25 | 4.0% | — | ||
| Q3 25 | -52.7% | 1.2% | ||
| Q2 25 | 9.2% | 7.3% | ||
| Q1 25 | 7.0% | 0.1% | ||
| Q4 24 | -59.3% | 5.6% | ||
| Q3 24 | 9.4% | 5.9% | ||
| Q2 24 | 9.4% | 3.4% |
净利率CETFIN
| Q1 26 | — | 0.3% | ||
| Q4 25 | 0.6% | — | ||
| Q3 25 | -56.1% | 1.6% | ||
| Q2 25 | 7.9% | 4.1% | ||
| Q1 25 | -0.9% | 0.0% | ||
| Q4 24 | -80.8% | 3.7% | ||
| Q3 24 | 4.4% | 5.0% | ||
| Q2 24 | 5.8% | 2.6% |
每股收益（稀释后）CETFIN
| Q1 26 | — | $0.23 | ||
| Q4 25 | $0.13 | — | ||
| Q3 25 | $-12.39 | $0.04 | ||
| Q2 25 | $1.81 | $0.15 | ||
| Q1 25 | $-0.19 | $-0.03 | ||
| Q4 24 | $-17.50 | $0.13 | ||
| Q3 24 | $1.06 | $0.19 | ||
| Q2 24 | $1.41 | $0.08 |
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 | — | — |
| 总债务越低越好 | $11.4B | — |
| 股东权益账面价值 | $4.0B | $950.7M |
| 总资产 | $21.7B | $6.9B |
| 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CETFIN
| Q1 26 | — | — | ||
| Q4 25 | — | $248.5M | ||
| Q3 25 | — | $147.2M | ||
| Q2 25 | — | $282.3M | ||
| Q1 25 | — | $502.9M | ||
| Q4 24 | — | $330.1M | ||
| Q3 24 | — | $489.3M | ||
| Q2 24 | — | $500.7M |
总债务CETFIN
| Q1 26 | — | — | ||
| 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 | — |
股东权益CETFIN
| Q1 26 | — | $950.7M | ||
| Q4 25 | $4.0B | $941.8M | ||
| Q3 25 | $4.0B | $919.3M | ||
| Q2 25 | $5.3B | $912.4M | ||
| Q1 25 | $5.2B | $893.9M | ||
| Q4 24 | $5.2B | $890.9M | ||
| Q3 24 | $7.3B | $885.8M | ||
| Q2 24 | $7.2B | $874.2M |
总资产CETFIN
| Q1 26 | — | $6.9B | ||
| Q4 25 | $21.7B | $6.4B | ||
| Q3 25 | $22.2B | $6.4B | ||
| Q2 25 | $23.7B | $6.5B | ||
| Q1 25 | $23.2B | $6.3B | ||
| Q4 24 | $22.9B | $5.9B | ||
| Q3 24 | $25.9B | $5.9B | ||
| Q2 24 | $25.8B | $5.8B |
负债/权益比CETFIN
| Q1 26 | — | — | ||
| 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× | — |
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% | — |
| 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CETFIN
| Q1 26 | — | — | ||
| Q4 25 | $252.0M | $67.1M | ||
| Q3 25 | $447.0M | $24.4M | ||
| Q2 25 | $410.0M | $9.8M | ||
| Q1 25 | $37.0M | $-3.6M | ||
| Q4 24 | $494.0M | $58.5M | ||
| Q3 24 | $79.0M | $26.6M | ||
| Q2 24 | $292.0M | $21.9M |
自由现金流CETFIN
| Q1 26 | — | — | ||
| Q4 25 | $168.0M | — | ||
| Q3 25 | $383.0M | $22.4M | ||
| Q2 25 | $317.0M | $6.8M | ||
| Q1 25 | $-65.0M | $-7.9M | ||
| Q4 24 | $389.0M | — | ||
| Q3 24 | $-9.0M | $25.8M | ||
| Q2 24 | $187.0M | $-31.9M |
自由现金流率CETFIN
| Q1 26 | — | — | ||
| Q4 25 | 7.6% | — | ||
| Q3 25 | 15.8% | 20.5% | ||
| Q2 25 | 12.5% | 6.2% | ||
| Q1 25 | -2.7% | -7.7% | ||
| Q4 24 | 16.4% | — | ||
| Q3 24 | -0.3% | 24.3% | ||
| Q2 24 | 7.1% | -30.3% |
资本支出强度CETFIN
| Q1 26 | — | — | ||
| Q4 25 | 3.8% | — | ||
| Q3 25 | 2.6% | 1.8% | ||
| Q2 25 | 3.7% | 2.8% | ||
| Q1 25 | 4.3% | 4.2% | ||
| Q4 24 | 4.4% | — | ||
| Q3 24 | 3.3% | 0.8% | ||
| Q2 24 | 4.0% | 51.1% |
现金转化率CETFIN
| Q1 26 | — | — | ||
| Q4 25 | 18.00× | — | ||
| Q3 25 | — | 14.29× | ||
| Q2 25 | 2.06× | 2.22× | ||
| Q1 25 | — | -212.82× | ||
| Q4 24 | — | 15.25× | ||
| Q3 24 | 0.68× | 4.97× | ||
| Q2 24 | 1.88× | 7.95× |
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% |
TFIN
暂无分部数据
