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塞拉尼斯（CE）与Toast, Inc.（TOST）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Toast, Inc.的1.3倍（$2.2B vs $1.6B），Toast, Inc.净利率更高（6.2% vs 0.6%，领先5.5%），Toast, Inc.同比增速更快（22.0% vs -7.0%），Toast, Inc.自由现金流更多（$178.0M vs $168.0M），过去两年Toast, Inc.的营收复合增速更高（23.3% 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。
Toast, Inc.是总部位于美国马萨诸塞州波士顿的云餐饮管理软件企业，主打基于安卓操作系统研发的一体化销售点（POS）系统，可为餐饮商家提供涵盖收银、订单管理等在内的全场景门店经营解决方案。
CE vs TOST — 直观对比
营收规模更大
CE
是对方的1.3倍
$1.6B
营收增速更快
TOST
高出29.1%
-7.0%
净利率更高
TOST
高出5.5%
0.6%
自由现金流更多
TOST
多$10.0M
$168.0M
两年增速更快
TOST
近两年复合增速
-8.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.2B | $1.6B |
| 净利润 | $14.0M | $101.0M |
| 毛利率 | 19.1% | 25.9% |
| 营业利润率 | 4.0% | 5.2% |
| 净利率 | 0.6% | 6.2% |
| 营收同比 | -7.0% | 22.0% |
| 净利润同比 | 100.7% | 215.6% |
| 每股收益（稀释后） | $0.13 | $0.18 |
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CETOST
| Q4 25 | $2.2B | $1.6B | ||
| Q3 25 | $2.4B | $1.6B | ||
| Q2 25 | $2.5B | $1.6B | ||
| Q1 25 | $2.4B | $1.3B | ||
| Q4 24 | $2.4B | $1.3B | ||
| Q3 24 | $2.6B | $1.3B | ||
| Q2 24 | $2.7B | $1.2B | ||
| Q1 24 | $2.6B | $1.1B |
净利润CETOST
| Q4 25 | $14.0M | $101.0M | ||
| Q3 25 | $-1.4B | $105.0M | ||
| Q2 25 | $199.0M | $80.0M | ||
| Q1 25 | $-21.0M | $56.0M | ||
| Q4 24 | $-1.9B | $32.0M | ||
| Q3 24 | $116.0M | $56.0M | ||
| Q2 24 | $155.0M | $14.0M | ||
| Q1 24 | $121.0M | $-83.0M |
毛利率CETOST
| Q4 25 | 19.1% | 25.9% | ||
| Q3 25 | 21.5% | 26.5% | ||
| Q2 25 | 21.1% | 25.3% | ||
| Q1 25 | 19.9% | 25.9% | ||
| Q4 24 | 22.7% | 24.9% | ||
| Q3 24 | 23.5% | 24.7% | ||
| Q2 24 | 24.2% | 23.0% | ||
| Q1 24 | 21.2% | 23.2% |
营业利润率CETOST
| Q4 25 | 4.0% | 5.2% | ||
| Q3 25 | -52.7% | 5.1% | ||
| Q2 25 | 9.2% | 5.2% | ||
| Q1 25 | 7.0% | 3.2% | ||
| Q4 24 | -59.3% | 2.5% | ||
| Q3 24 | 9.4% | 2.6% | ||
| Q2 24 | 9.4% | 0.4% | ||
| Q1 24 | 8.0% | -5.2% |
净利率CETOST
| Q4 25 | 0.6% | 6.2% | ||
| Q3 25 | -56.1% | 6.4% | ||
| Q2 25 | 7.9% | 5.2% | ||
| Q1 25 | -0.9% | 4.2% | ||
| Q4 24 | -80.8% | 2.4% | ||
| Q3 24 | 4.4% | 4.3% | ||
| Q2 24 | 5.8% | 1.1% | ||
| Q1 24 | 4.6% | -7.7% |
每股收益（稀释后）CETOST
| Q4 25 | $0.13 | $0.18 | ||
| Q3 25 | $-12.39 | $0.16 | ||
| Q2 25 | $1.81 | $0.13 | ||
| Q1 25 | $-0.19 | $0.09 | ||
| Q4 24 | $-17.50 | $0.09 | ||
| Q3 24 | $1.06 | $0.07 | ||
| Q2 24 | $1.41 | $0.02 | ||
| Q1 24 | $1.10 | $-0.15 |
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 | $2.1B |
| 总资产 | $21.7B | $3.1B |
| 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CETOST
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.0B | ||
| Q4 24 | — | $903.0M | ||
| Q3 24 | — | $761.0M | ||
| Q2 24 | — | $691.0M | ||
| Q1 24 | — | $578.0M |
总债务CETOST
| 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 | — | ||
| Q1 24 | $11.0B | — |
股东权益CETOST
| Q4 25 | $4.0B | $2.1B | ||
| Q3 25 | $4.0B | $2.0B | ||
| Q2 25 | $5.3B | $1.8B | ||
| Q1 25 | $5.2B | $1.7B | ||
| Q4 24 | $5.2B | $1.5B | ||
| Q3 24 | $7.3B | $1.4B | ||
| Q2 24 | $7.2B | $1.3B | ||
| Q1 24 | $7.1B | $1.2B |
总资产CETOST
| Q4 25 | $21.7B | $3.1B | ||
| Q3 25 | $22.2B | $3.0B | ||
| Q2 25 | $23.7B | $2.8B | ||
| Q1 25 | $23.2B | $2.6B | ||
| Q4 24 | $22.9B | $2.4B | ||
| Q3 24 | $25.9B | $2.2B | ||
| Q2 24 | $25.8B | $2.2B | ||
| Q1 24 | $26.0B | $2.1B |
负债/权益比CETOST
| 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× | — | ||
| Q1 24 | 1.56× | — |
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 | $194.0M |
| 自由现金流经营现金流 - 资本支出 | $168.0M | $178.0M |
| 自由现金流率自由现金流/营收 | 7.6% | 10.9% |
| 资本支出强度资本支出/营收 | 3.8% | 1.0% |
| 现金转化率经营现金流/净利润 | 18.00× | 1.92× |
| 过去12个月自由现金流最近4个季度 | $803.0M | $608.0M |
8季度趋势，按日历期对齐
经营现金流CETOST
| Q4 25 | $252.0M | $194.0M | ||
| Q3 25 | $447.0M | $165.0M | ||
| Q2 25 | $410.0M | $223.0M | ||
| Q1 25 | $37.0M | $79.0M | ||
| Q4 24 | $494.0M | $147.0M | ||
| Q3 24 | $79.0M | $109.0M | ||
| Q2 24 | $292.0M | $124.0M | ||
| Q1 24 | $101.0M | $-20.0M |
自由现金流CETOST
| Q4 25 | $168.0M | $178.0M | ||
| Q3 25 | $383.0M | $153.0M | ||
| Q2 25 | $317.0M | $208.0M | ||
| Q1 25 | $-65.0M | $69.0M | ||
| Q4 24 | $389.0M | $134.0M | ||
| Q3 24 | $-9.0M | $97.0M | ||
| Q2 24 | $187.0M | $108.0M | ||
| Q1 24 | $-36.0M | $-33.0M |
自由现金流率CETOST
| Q4 25 | 7.6% | 10.9% | ||
| Q3 25 | 15.8% | 9.4% | ||
| Q2 25 | 12.5% | 13.4% | ||
| Q1 25 | -2.7% | 5.2% | ||
| Q4 24 | 16.4% | 10.0% | ||
| Q3 24 | -0.3% | 7.4% | ||
| Q2 24 | 7.1% | 8.7% | ||
| Q1 24 | -1.4% | -3.1% |
资本支出强度CETOST
| Q4 25 | 3.8% | 1.0% | ||
| Q3 25 | 2.6% | 0.7% | ||
| Q2 25 | 3.7% | 1.0% | ||
| Q1 25 | 4.3% | 0.7% | ||
| Q4 24 | 4.4% | 1.0% | ||
| Q3 24 | 3.3% | 0.9% | ||
| Q2 24 | 4.0% | 1.3% | ||
| Q1 24 | 5.2% | 1.2% |
现金转化率CETOST
| Q4 25 | 18.00× | 1.92× | ||
| Q3 25 | — | 1.57× | ||
| Q2 25 | 2.06× | 2.79× | ||
| Q1 25 | — | 1.41× | ||
| Q4 24 | — | 4.59× | ||
| Q3 24 | 0.68× | 1.95× | ||
| Q2 24 | 1.88× | 8.86× | ||
| 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% |
TOST
| Technology Service | $1.3B | 82% |
| License | $256.0M | 16% |
| Product And Professional Services | $43.0M | 3% |
