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CF Industries（CF）与CAVCO INDUSTRIES, INC.（CVCO）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CAVCO INDUSTRIES, INC.的3.2倍（$1.9B vs $581.0M）。CF Industries净利率更高（26.4% vs 7.6%，领先18.9%）。CF Industries同比增速更快（22.8% vs 11.3%）。CF Industries自由现金流更多（$313.0M vs $57.6M）。过去两年CAVCO INDUSTRIES, INC.的营收复合增速更高（17.6% vs 12.8%）
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。
Cavco工业是总部位于美国亚利桑那州凤凰城的制造企业，主营模块化住宅、休闲房车、度假木屋及预制房屋产品，在美国各地布局有完善的制造工厂与零售门店网络，可满足多元居住及休闲场景的使用需求。
CF vs CVCO — 直观对比
营收规模更大
CF
是对方的3.2倍
$581.0M
营收增速更快
CF
高出11.5%
11.3%
净利率更高
CF
高出18.9%
7.6%
自由现金流更多
CF
多$255.4M
$57.6M
两年增速更快
CVCO
近两年复合增速
12.8%
损益表 — Q4 2025 vs Q3 2026
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $581.0M |
| 净利润 | $495.0M | $44.1M |
| 毛利率 | 40.9% | 23.4% |
| 营业利润率 | 33.0% | 9.4% |
| 净利率 | 26.4% | 7.6% |
| 营收同比 | 22.8% | 11.3% |
| 净利润同比 | 26.3% | -22.0% |
| 每股收益（稀释后） | $2.56 | $5.58 |
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CFCVCO
| Q4 25 | $1.9B | $581.0M | ||
| Q3 25 | $1.7B | $556.5M | ||
| Q2 25 | $1.9B | $556.9M | ||
| Q1 25 | $1.7B | $508.4M | ||
| Q4 24 | $1.5B | $522.0M | ||
| Q3 24 | $1.4B | $507.5M | ||
| Q2 24 | $1.6B | $477.6M | ||
| Q1 24 | $1.5B | $420.1M |
净利润CFCVCO
| Q4 25 | $495.0M | $44.1M | ||
| Q3 25 | $460.0M | $52.4M | ||
| Q2 25 | $492.0M | $51.6M | ||
| Q1 25 | $351.0M | $36.3M | ||
| Q4 24 | $392.0M | $56.5M | ||
| Q3 24 | $341.0M | $43.8M | ||
| Q2 24 | $506.0M | $34.4M | ||
| Q1 24 | $238.0M | $33.9M |
毛利率CFCVCO
| Q4 25 | 40.9% | 23.4% | ||
| Q3 25 | 38.1% | 24.2% | ||
| Q2 25 | 39.9% | 23.3% | ||
| Q1 25 | 34.4% | 22.8% | ||
| Q4 24 | 34.4% | 24.9% | ||
| Q3 24 | 32.4% | 22.9% | ||
| Q2 24 | 43.2% | 21.7% | ||
| Q1 24 | 27.8% | 23.6% |
营业利润率CFCVCO
| Q4 25 | 33.0% | 9.4% | ||
| Q3 25 | 35.0% | 11.2% | ||
| Q2 25 | 34.3% | 10.8% | ||
| Q1 25 | 27.4% | 7.6% | ||
| Q4 24 | 28.9% | 12.3% | ||
| Q3 24 | 26.6% | 9.7% | ||
| Q2 24 | 40.6% | 8.1% | ||
| Q1 24 | 20.6% | 8.9% |
净利率CFCVCO
| Q4 25 | 26.4% | 7.6% | ||
| Q3 25 | 27.7% | 9.4% | ||
| Q2 25 | 26.0% | 9.3% | ||
| Q1 25 | 21.1% | 7.1% | ||
| Q4 24 | 25.7% | 10.8% | ||
| Q3 24 | 24.9% | 8.6% | ||
| Q2 24 | 32.2% | 7.2% | ||
| Q1 24 | 16.2% | 8.1% |
每股收益（稀释后）CFCVCO
| Q4 25 | $2.56 | $5.58 | ||
| Q3 25 | $2.19 | $6.55 | ||
| Q2 25 | $2.37 | $6.42 | ||
| Q1 25 | $1.85 | $4.42 | ||
| Q4 24 | $1.86 | $6.90 | ||
| Q3 24 | $1.55 | $5.28 | ||
| Q2 24 | $2.30 | $4.11 | ||
| Q1 24 | $1.03 | $4.05 |
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 | — | $241.9M |
| 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 | $1.5B |
| 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CFCVCO
| Q4 25 | — | $241.9M | ||
| Q3 25 | — | $391.8M | ||
| Q2 25 | — | $362.4M | ||
| Q1 25 | — | $376.1M | ||
| Q4 24 | — | $378.9M | ||
| Q3 24 | — | $388.7M | ||
| Q2 24 | — | $380.0M | ||
| Q1 24 | — | $371.0M |
总债务CFCVCO
| Q4 25 | $3.2B | — | ||
| Q3 25 | $3.0B | — | ||
| Q2 25 | $3.0B | — | ||
| Q1 25 | $3.0B | — | ||
| Q4 24 | $3.0B | — | ||
| Q3 24 | $3.0B | — | ||
| Q2 24 | $3.0B | — | ||
| Q1 24 | $3.0B | — |
股东权益CFCVCO
| 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 | $1.1B | ||
| Q3 24 | $5.2B | $1.0B | ||
| Q2 24 | $5.5B | $1.0B | ||
| Q1 24 | $5.4B | $1.0B |
总资产CFCVCO
| Q4 25 | $14.1B | $1.5B | ||
| Q3 25 | $14.2B | $1.4B | ||
| Q2 25 | $13.8B | $1.4B | ||
| Q1 25 | $13.3B | $1.4B | ||
| Q4 24 | $13.5B | $1.4B | ||
| Q3 24 | $13.8B | $1.4B | ||
| Q2 24 | $13.8B | $1.4B | ||
| Q1 24 | $13.9B | $1.4B |
负债/权益比CFCVCO
| Q4 25 | 0.66× | — | ||
| Q3 25 | 0.61× | — | ||
| Q2 25 | 0.60× | — | ||
| Q1 25 | 0.62× | — | ||
| Q4 24 | 0.60× | — | ||
| Q3 24 | 0.57× | — | ||
| Q2 24 | 0.54× | — | ||
| Q1 24 | 0.55× | — |
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 | $66.1M |
| 自由现金流经营现金流 - 资本支出 | $313.0M | $57.6M |
| 自由现金流率自由现金流/营收 | 16.7% | 9.9% |
| 资本支出强度资本支出/营收 | 12.1% | 1.5% |
| 现金转化率经营现金流/净利润 | 1.09× | 1.50× |
| 过去12个月自由现金流最近4个季度 | $1.8B | $205.3M |
8季度趋势，按日历期对齐
经营现金流CFCVCO
| Q4 25 | $539.0M | $66.1M | ||
| Q3 25 | $1.1B | $78.5M | ||
| Q2 25 | $563.0M | $55.5M | ||
| Q1 25 | $586.0M | $38.6M | ||
| Q4 24 | $420.0M | $37.8M | ||
| Q3 24 | $931.0M | $54.7M | ||
| Q2 24 | $475.0M | $47.4M | ||
| Q1 24 | $445.0M | — |
自由现金流CFCVCO
| Q4 25 | $313.0M | $57.6M | ||
| Q3 25 | $717.0M | $68.7M | ||
| Q2 25 | $318.0M | $46.4M | ||
| Q1 25 | $454.0M | $32.5M | ||
| Q4 24 | $223.0M | $32.3M | ||
| Q3 24 | $792.0M | $49.8M | ||
| Q2 24 | $391.0M | $42.4M | ||
| Q1 24 | $347.0M | — |
自由现金流率CFCVCO
| Q4 25 | 16.7% | 9.9% | ||
| Q3 25 | 43.2% | 12.4% | ||
| Q2 25 | 16.8% | 8.3% | ||
| Q1 25 | 27.3% | 6.4% | ||
| Q4 24 | 14.6% | 6.2% | ||
| Q3 24 | 57.8% | 9.8% | ||
| Q2 24 | 24.9% | 8.9% | ||
| Q1 24 | 23.6% | — |
资本支出强度CFCVCO
| Q4 25 | 12.1% | 1.5% | ||
| Q3 25 | 20.9% | 1.7% | ||
| Q2 25 | 13.0% | 1.6% | ||
| Q1 25 | 7.9% | 1.2% | ||
| Q4 24 | 12.9% | 1.0% | ||
| Q3 24 | 10.1% | 1.0% | ||
| Q2 24 | 5.3% | 1.0% | ||
| Q1 24 | 6.7% | — |
现金转化率CFCVCO
| Q4 25 | 1.09× | 1.50× | ||
| Q3 25 | 2.31× | 1.50× | ||
| Q2 25 | 1.14× | 1.08× | ||
| Q1 25 | 1.67× | 1.06× | ||
| Q4 24 | 1.07× | 0.67× | ||
| Q3 24 | 2.73× | 1.25× | ||
| Q2 24 | 0.94× | 1.38× | ||
| Q1 24 | 1.87× | — |
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% |
CVCO
| Manufactured Product Other | $532.5M | 92% |
| Other | $26.0M | 4% |
| Financial Service Other | $20.5M | 4% |
| Insurance Agency Commissions | $2.0M | 0% |
