vs
CF Industries（CF）与Deckers Brands（DECK）财务数据对比。点击上方公司名可切换其他公司
Deckers Brands的季度营收约是CF Industries的1.0倍（$2.0B vs $1.9B），CF Industries净利率更高（26.4% vs 24.6%，领先1.9%），CF Industries同比增速更快（22.8% vs 7.1%），Deckers Brands自由现金流更多（$1.0B vs $313.0M），过去两年Deckers Brands的营收复合增速更高（42.8% 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。
Deckers Brands是1973年成立的美国鞋履设计与分销企业，总部位于加利福尼亚州戈利塔，由道格·奥托与卡尔·F·洛普克共同创立。公司旗下拥有UGG、Teva、Hoka等全球知名鞋履品牌，产品覆盖休闲、户外等多个领域，销往世界多地。
CF vs DECK — 直观对比
营收规模更大
DECK
是对方的1.0倍
$1.9B
营收增速更快
CF
高出15.7%
7.1%
净利率更高
CF
高出1.9%
24.6%
自由现金流更多
DECK
多$707.3M
$313.0M
两年增速更快
DECK
近两年复合增速
12.8%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $2.0B |
| 净利润 | $495.0M | $481.1M |
| 毛利率 | 40.9% | 59.8% |
| 营业利润率 | 33.0% | 31.4% |
| 净利率 | 26.4% | 24.6% |
| 营收同比 | 22.8% | 7.1% |
| 净利润同比 | 26.3% | 5.3% |
| 每股收益（稀释后） | $2.56 | $3.33 |
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CFDECK
| Q4 25 | $1.9B | $2.0B | ||
| Q3 25 | $1.7B | $1.4B | ||
| Q2 25 | $1.9B | $964.5M | ||
| Q1 25 | $1.7B | $1.0B | ||
| Q4 24 | $1.5B | $1.8B | ||
| Q3 24 | $1.4B | $1.3B | ||
| Q2 24 | $1.6B | $825.3M | ||
| Q1 24 | $1.5B | $959.8M |
净利润CFDECK
| Q4 25 | $495.0M | $481.1M | ||
| Q3 25 | $460.0M | $268.2M | ||
| Q2 25 | $492.0M | $139.2M | ||
| Q1 25 | $351.0M | $151.4M | ||
| Q4 24 | $392.0M | $456.7M | ||
| Q3 24 | $341.0M | $242.3M | ||
| Q2 24 | $506.0M | $115.6M | ||
| Q1 24 | $238.0M | $127.5M |
毛利率CFDECK
| Q4 25 | 40.9% | 59.8% | ||
| Q3 25 | 38.1% | 56.2% | ||
| Q2 25 | 39.9% | 55.8% | ||
| Q1 25 | 34.4% | 56.7% | ||
| Q4 24 | 34.4% | 60.3% | ||
| Q3 24 | 32.4% | 55.9% | ||
| Q2 24 | 43.2% | 56.9% | ||
| Q1 24 | 27.8% | 56.2% |
营业利润率CFDECK
| Q4 25 | 33.0% | 31.4% | ||
| Q3 25 | 35.0% | 22.8% | ||
| Q2 25 | 34.3% | 17.1% | ||
| Q1 25 | 27.4% | 17.0% | ||
| Q4 24 | 28.9% | 31.0% | ||
| Q3 24 | 26.6% | 23.3% | ||
| Q2 24 | 40.6% | 16.1% | ||
| Q1 24 | 20.6% | 15.0% |
净利率CFDECK
| Q4 25 | 26.4% | 24.6% | ||
| Q3 25 | 27.7% | 18.7% | ||
| Q2 25 | 26.0% | 14.4% | ||
| Q1 25 | 21.1% | 14.8% | ||
| Q4 24 | 25.7% | 25.0% | ||
| Q3 24 | 24.9% | 18.5% | ||
| Q2 24 | 32.2% | 14.0% | ||
| Q1 24 | 16.2% | 13.3% |
每股收益（稀释后）CFDECK
| Q4 25 | $2.56 | $3.33 | ||
| Q3 25 | $2.19 | $1.82 | ||
| Q2 25 | $2.37 | $0.93 | ||
| Q1 25 | $1.85 | $-2.78 | ||
| Q4 24 | $1.86 | $3.00 | ||
| Q3 24 | $1.55 | $1.59 | ||
| Q2 24 | $2.30 | $4.52 | ||
| Q1 24 | $1.03 | $4.82 |
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 | — | $2.1B |
| 总债务越低越好 | $3.2B | — |
| 股东权益账面价值 | $4.8B | $2.6B |
| 总资产 | $14.1B | $4.1B |
| 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CFDECK
| Q4 25 | — | $2.1B | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | — | $1.7B | ||
| Q1 25 | — | $1.9B | ||
| Q4 24 | — | $2.2B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $1.4B | ||
| Q1 24 | — | $1.5B |
总债务CFDECK
| 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CFDECK
| Q4 25 | $4.8B | $2.6B | ||
| Q3 25 | $4.8B | $2.5B | ||
| Q2 25 | $5.0B | $2.5B | ||
| Q1 25 | $4.8B | $2.5B | ||
| Q4 24 | $5.0B | $2.6B | ||
| Q3 24 | $5.2B | $2.2B | ||
| Q2 24 | $5.5B | $2.1B | ||
| Q1 24 | $5.4B | $2.1B |
总资产CFDECK
| Q4 25 | $14.1B | $4.1B | ||
| Q3 25 | $14.2B | $3.8B | ||
| Q2 25 | $13.8B | $3.8B | ||
| Q1 25 | $13.3B | $3.6B | ||
| Q4 24 | $13.5B | $4.0B | ||
| Q3 24 | $13.8B | $3.4B | ||
| Q2 24 | $13.8B | $3.3B | ||
| Q1 24 | $13.9B | $3.1B |
负债/权益比CFDECK
| 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 | $1.0B |
| 自由现金流经营现金流 - 资本支出 | $313.0M | $1.0B |
| 自由现金流率自由现金流/营收 | 16.7% | 52.1% |
| 资本支出强度资本支出/营收 | 12.1% | 1.1% |
| 现金转化率经营现金流/净利润 | 1.09× | 2.17× |
| 过去12个月自由现金流最近4个季度 | $1.8B | $929.1M |
8季度趋势，按日历期对齐
经营现金流CFDECK
| Q4 25 | $539.0M | $1.0B | ||
| Q3 25 | $1.1B | $8.1M | ||
| Q2 25 | $563.0M | $36.1M | ||
| Q1 25 | $586.0M | $-73.0M | ||
| Q4 24 | $420.0M | $1.1B | ||
| Q3 24 | $931.0M | $-90.5M | ||
| Q2 24 | $475.0M | $112.7M | ||
| Q1 24 | $445.0M | $-28.7M |
自由现金流CFDECK
| Q4 25 | $313.0M | $1.0B | ||
| Q3 25 | $717.0M | $-13.9M | ||
| Q2 25 | $318.0M | $12.2M | ||
| Q1 25 | $454.0M | $-89.4M | ||
| Q4 24 | $223.0M | $1.1B | ||
| Q3 24 | $792.0M | $-113.4M | ||
| Q2 24 | $391.0M | $90.1M | ||
| Q1 24 | $347.0M | $-44.0M |
自由现金流率CFDECK
| Q4 25 | 16.7% | 52.1% | ||
| Q3 25 | 43.2% | -1.0% | ||
| Q2 25 | 16.8% | 1.3% | ||
| Q1 25 | 27.3% | -8.8% | ||
| Q4 24 | 14.6% | 58.6% | ||
| Q3 24 | 57.8% | -8.6% | ||
| Q2 24 | 24.9% | 10.9% | ||
| Q1 24 | 23.6% | -4.6% |
资本支出强度CFDECK
| Q4 25 | 12.1% | 1.1% | ||
| Q3 25 | 20.9% | 1.5% | ||
| Q2 25 | 13.0% | 2.5% | ||
| Q1 25 | 7.9% | 1.6% | ||
| Q4 24 | 12.9% | 1.3% | ||
| Q3 24 | 10.1% | 1.7% | ||
| Q2 24 | 5.3% | 2.7% | ||
| Q1 24 | 6.7% | 1.6% |
现金转化率CFDECK
| Q4 25 | 1.09× | 2.17× | ||
| Q3 25 | 2.31× | 0.03× | ||
| Q2 25 | 1.14× | 0.26× | ||
| Q1 25 | 1.67× | -0.48× | ||
| Q4 24 | 1.07× | 2.40× | ||
| Q3 24 | 2.73× | -0.37× | ||
| Q2 24 | 0.94× | 0.97× | ||
| Q1 24 | 1.87× | -0.22× |
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% |
DECK
| UGG Brand Segment | $1.3B | 67% |
| Hoka Brand Segment | $628.9M | 32% |
| Other Brands Segment | $23.2M | 1% |
