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CF Industries（CF）与CSW INDUSTRIALS, INC.（CSW）财务数据对比。点击上方公司名可切换其他公司
CF Industries的季度营收约是CSW INDUSTRIALS, INC.的8.0倍（$1.9B vs $233.0M）。CF Industries净利率更高（26.4% vs 4.4%，领先22.0%）。CF Industries同比增速更快（22.8% vs 20.3%）。CF Industries自由现金流更多（$313.0M vs $22.7M）。过去两年CF Industries的营收复合增速更高（12.8% vs 5.1%）
CF Industries Holdings Inc.是美国知名农用肥料生产及分销商，1946年成立时名为中央农民肥料公司，总部位于芝加哥郊区的伊利诺伊州诺斯布鲁克。公司主营氨、尿素、硝酸铵等肥料产品，最初为区域农业供应合作社联盟，成立56年后完成股份化改制，转为公开上市企业。
CF vs CSW — 直观对比
营收规模更大
CF
是对方的8.0倍
$233.0M
营收增速更快
CF
高出2.5%
20.3%
净利率更高
CF
高出22.0%
4.4%
自由现金流更多
CF
多$290.3M
$22.7M
两年增速更快
CF
近两年复合增速
5.1%
损益表 — Q4 2025 vs Q3 2026
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $233.0M |
| 净利润 | $495.0M | $10.3M |
| 毛利率 | 40.9% | 39.7% |
| 营业利润率 | 33.0% | 7.4% |
| 净利率 | 26.4% | 4.4% |
| 营收同比 | 22.8% | 20.3% |
| 净利润同比 | 26.3% | -61.9% |
| 每股收益（稀释后） | $2.56 | $0.62 |
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CFCSW
| Q4 25 | $1.9B | $233.0M | ||
| Q3 25 | $1.7B | $277.0M | ||
| Q2 25 | $1.9B | $263.6M | ||
| Q1 25 | $1.7B | $230.5M | ||
| Q4 24 | $1.5B | $193.6M | ||
| Q3 24 | $1.4B | $227.9M | ||
| Q2 24 | $1.6B | $226.2M | ||
| Q1 24 | $1.5B | $210.9M |
净利润CFCSW
| Q4 25 | $495.0M | $10.3M | ||
| Q3 25 | $460.0M | $40.7M | ||
| Q2 25 | $492.0M | $40.9M | ||
| Q1 25 | $351.0M | $35.1M | ||
| Q4 24 | $392.0M | $26.9M | ||
| Q3 24 | $341.0M | $36.1M | ||
| Q2 24 | $506.0M | $38.6M | ||
| Q1 24 | $238.0M | $31.8M |
毛利率CFCSW
| Q4 25 | 40.9% | 39.7% | ||
| Q3 25 | 38.1% | 43.0% | ||
| Q2 25 | 39.9% | 43.8% | ||
| Q1 25 | 34.4% | 44.2% | ||
| Q4 24 | 34.4% | 41.4% | ||
| Q3 24 | 32.4% | 45.6% | ||
| Q2 24 | 43.2% | 47.5% | ||
| Q1 24 | 27.8% | 44.4% |
营业利润率CFCSW
| Q4 25 | 33.0% | 7.4% | ||
| Q3 25 | 35.0% | 20.5% | ||
| Q2 25 | 34.3% | 20.8% | ||
| Q1 25 | 27.4% | 19.5% | ||
| Q4 24 | 28.9% | 15.3% | ||
| Q3 24 | 26.6% | 22.6% | ||
| Q2 24 | 40.6% | 24.3% | ||
| Q1 24 | 20.6% | 21.0% |
净利率CFCSW
| Q4 25 | 26.4% | 4.4% | ||
| Q3 25 | 27.7% | 14.7% | ||
| Q2 25 | 26.0% | 15.5% | ||
| Q1 25 | 21.1% | 15.2% | ||
| Q4 24 | 25.7% | 13.9% | ||
| Q3 24 | 24.9% | 15.8% | ||
| Q2 24 | 32.2% | 17.1% | ||
| Q1 24 | 16.2% | 15.1% |
每股收益（稀释后）CFCSW
| Q4 25 | $2.56 | $0.62 | ||
| Q3 25 | $2.19 | $2.41 | ||
| Q2 25 | $2.37 | $2.43 | ||
| Q1 25 | $1.85 | $2.05 | ||
| Q4 24 | $1.86 | $1.60 | ||
| Q3 24 | $1.55 | $2.26 | ||
| Q2 24 | $2.30 | $2.47 | ||
| Q1 24 | $1.03 | $2.03 |
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 | — | $40.2M |
| 总债务越低越好 | $3.2B | — |
| 股东权益账面价值 | $4.8B | $1.1B |
| 总资产 | $14.1B | $2.3B |
| 负债/权益比越低杠杆越低 | 0.66× | — |
8季度趋势，按日历期对齐
现金及短期投资CFCSW
| Q4 25 | — | $40.2M | ||
| Q3 25 | — | $31.5M | ||
| Q2 25 | — | $38.0M | ||
| Q1 25 | — | $225.8M | ||
| Q4 24 | — | $213.8M | ||
| Q3 24 | — | $273.2M | ||
| Q2 24 | — | $18.9M | ||
| Q1 24 | — | $22.2M |
总债务CFCSW
| Q4 25 | $3.2B | — | ||
| Q3 25 | $3.0B | — | ||
| Q2 25 | $3.0B | — | ||
| Q1 25 | $3.0B | $800.1M | ||
| Q4 24 | $3.0B | — | ||
| Q3 24 | $3.0B | — | ||
| Q2 24 | $3.0B | — | ||
| Q1 24 | $3.0B | $166.0M |
股东权益CFCSW
| Q4 25 | $4.8B | $1.1B | ||
| Q3 25 | $4.8B | $1.1B | ||
| Q2 25 | $5.0B | $1.1B | ||
| Q1 25 | $4.8B | $1.1B | ||
| Q4 24 | $5.0B | $1.0B | ||
| Q3 24 | $5.2B | $1.0B | ||
| Q2 24 | $5.5B | $650.2M | ||
| Q1 24 | $5.4B | $615.7M |
总资产CFCSW
| Q4 25 | $14.1B | $2.3B | ||
| Q3 25 | $14.2B | $1.5B | ||
| Q2 25 | $13.8B | $1.5B | ||
| Q1 25 | $13.3B | $1.4B | ||
| Q4 24 | $13.5B | $1.4B | ||
| Q3 24 | $13.8B | $1.4B | ||
| Q2 24 | $13.8B | $1.1B | ||
| Q1 24 | $13.9B | $1.0B |
负债/权益比CFCSW
| Q4 25 | 0.66× | — | ||
| Q3 25 | 0.61× | — | ||
| Q2 25 | 0.60× | — | ||
| Q1 25 | 0.62× | 0.75× | ||
| Q4 24 | 0.60× | — | ||
| Q3 24 | 0.57× | — | ||
| Q2 24 | 0.54× | — | ||
| Q1 24 | 0.55× | 0.27× |
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 | $539.0M | $28.9M |
| 自由现金流经营现金流 - 资本支出 | $313.0M | $22.7M |
| 自由现金流率自由现金流/营收 | 16.7% | 9.8% |
| 资本支出强度资本支出/营收 | 12.1% | 2.6% |
| 现金转化率经营现金流/净利润 | 1.09× | 2.81× |
| 过去12个月自由现金流最近4个季度 | $1.8B | $162.0M |
8季度趋势，按日历期对齐
经营现金流CFCSW
| Q4 25 | $539.0M | $28.9M | ||
| Q3 25 | $1.1B | $61.8M | ||
| Q2 25 | $563.0M | $60.6M | ||
| Q1 25 | $586.0M | $27.3M | ||
| Q4 24 | $420.0M | $11.6M | ||
| Q3 24 | $931.0M | $66.8M | ||
| Q2 24 | $475.0M | $62.7M | ||
| Q1 24 | $445.0M | $22.4M |
自由现金流CFCSW
| Q4 25 | $313.0M | $22.7M | ||
| Q3 25 | $717.0M | $58.7M | ||
| Q2 25 | $318.0M | $57.7M | ||
| Q1 25 | $454.0M | $22.8M | ||
| Q4 24 | $223.0M | $8.5M | ||
| Q3 24 | $792.0M | $61.3M | ||
| Q2 24 | $391.0M | $59.6M | ||
| Q1 24 | $347.0M | $17.5M |
自由现金流率CFCSW
| Q4 25 | 16.7% | 9.8% | ||
| Q3 25 | 43.2% | 21.2% | ||
| Q2 25 | 16.8% | 21.9% | ||
| Q1 25 | 27.3% | 9.9% | ||
| Q4 24 | 14.6% | 4.4% | ||
| Q3 24 | 57.8% | 26.9% | ||
| Q2 24 | 24.9% | 26.3% | ||
| Q1 24 | 23.6% | 8.3% |
资本支出强度CFCSW
| Q4 25 | 12.1% | 2.6% | ||
| Q3 25 | 20.9% | 1.1% | ||
| Q2 25 | 13.0% | 1.1% | ||
| Q1 25 | 7.9% | 2.0% | ||
| Q4 24 | 12.9% | 1.6% | ||
| Q3 24 | 10.1% | 2.4% | ||
| Q2 24 | 5.3% | 1.4% | ||
| Q1 24 | 6.7% | 2.3% |
现金转化率CFCSW
| Q4 25 | 1.09× | 2.81× | ||
| Q3 25 | 2.31× | 1.52× | ||
| Q2 25 | 1.14× | 1.48× | ||
| Q1 25 | 1.67× | 0.78× | ||
| Q4 24 | 1.07× | 0.43× | ||
| Q3 24 | 2.73× | 1.85× | ||
| Q2 24 | 0.94× | 1.62× | ||
| Q1 24 | 1.87× | 0.71× |
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
CF
| Ammonia | $591.0M | 32% |
| UAN | $493.0M | 26% |
| Urea | $372.0M | 20% |
| Other | $244.0M | 13% |
| Other Products | $147.0M | 8% |
| Ammonium Nitrate Segment | $25.0M | 1% |
CSW
| Contractor Solutions Segment | $166.3M | 71% |
| Specialized Reliability Solutions Segment | $38.2M | 16% |
| Engineered Building Solutions Segment | $28.5M | 12% |
