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CF Industries（CF）与Dream Finders Homes, Inc.（DFH）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Dream Finders Homes, Inc.的1.5倍（$1.9B vs $1.2B），CF Industries净利率更高（26.4% vs 4.8%，领先21.6%），CF Industries同比增速更快（22.8% vs -22.3%），CF Industries自由现金流更多（$313.0M vs $136.0M），过去两年Dream Finders Homes, Inc.的营收复合增速更高（21.0% 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。
美国住宅建筑商Dream Finders Homes主要建造并销售独栋住宅、联排别墅等覆盖入门级到高端档次的居住物业，业务布局美国多个高速增长区域，同时为购房者提供按揭融资、产权保险、房屋保修等配套服务，覆盖各类客户群体。
CF vs DFH — 直观对比
营收规模更大
CF
是对方的1.5倍
$1.2B
营收增速更快
CF
高出45.1%
-22.3%
净利率更高
CF
高出21.6%
4.8%
自由现金流更多
CF
多$177.0M
$136.0M
两年增速更快
DFH
近两年复合增速
12.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $1.2B |
| 净利润 | $495.0M | $58.8M |
| 毛利率 | 40.9% | — |
| 营业利润率 | 33.0% | 6.4% |
| 净利率 | 26.4% | 4.8% |
| 营收同比 | 22.8% | -22.3% |
| 净利润同比 | 26.3% | -54.9% |
| 每股收益（稀释后） | $2.56 | $0.57 |
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CFDFH
| Q4 25 | $1.9B | $1.2B | ||
| Q3 25 | $1.7B | $969.8M | ||
| Q2 25 | $1.9B | $1.2B | ||
| Q1 25 | $1.7B | $989.9M | ||
| Q4 24 | $1.5B | $1.6B | ||
| Q3 24 | $1.4B | $1.0B | ||
| Q2 24 | $1.6B | $1.1B | ||
| Q1 24 | $1.5B | $827.8M |
净利润CFDFH
| Q4 25 | $495.0M | $58.8M | ||
| Q3 25 | $460.0M | $47.0M | ||
| Q2 25 | $492.0M | $56.6M | ||
| Q1 25 | $351.0M | $54.9M | ||
| Q4 24 | $392.0M | $130.5M | ||
| Q3 24 | $341.0M | $70.7M | ||
| Q2 24 | $506.0M | $80.9M | ||
| Q1 24 | $238.0M | $54.5M |
毛利率CFDFH
| Q4 25 | 40.9% | — | ||
| Q3 25 | 38.1% | — | ||
| Q2 25 | 39.9% | — | ||
| Q1 25 | 34.4% | — | ||
| Q4 24 | 34.4% | — | ||
| Q3 24 | 32.4% | — | ||
| Q2 24 | 43.2% | 19.2% | ||
| Q1 24 | 27.8% | 18.0% |
营业利润率CFDFH
| Q4 25 | 33.0% | 6.4% | ||
| Q3 25 | 35.0% | 6.3% | ||
| Q2 25 | 34.3% | 6.4% | ||
| Q1 25 | 27.4% | 7.2% | ||
| Q4 24 | 28.9% | 10.8% | ||
| Q3 24 | 26.6% | 9.2% | ||
| Q2 24 | 40.6% | 10.0% | ||
| Q1 24 | 20.6% | 8.6% |
净利率CFDFH
| Q4 25 | 26.4% | 4.8% | ||
| Q3 25 | 27.7% | 4.8% | ||
| Q2 25 | 26.0% | 4.9% | ||
| Q1 25 | 21.1% | 5.5% | ||
| Q4 24 | 25.7% | 8.4% | ||
| Q3 24 | 24.9% | 7.0% | ||
| Q2 24 | 32.2% | 7.7% | ||
| Q1 24 | 16.2% | 6.6% |
每股收益（稀释后）CFDFH
| Q4 25 | $2.56 | $0.57 | ||
| Q3 25 | $2.19 | $0.47 | ||
| Q2 25 | $2.37 | $0.56 | ||
| Q1 25 | $1.85 | $0.54 | ||
| Q4 24 | $1.86 | $1.28 | ||
| Q3 24 | $1.55 | $0.70 | ||
| Q2 24 | $2.30 | $0.81 | ||
| Q1 24 | $1.03 | $0.55 |
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 | — | $234.8M |
| 总债务越低越好 | $3.2B | $1.6B |
| 股东权益账面价值 | $4.8B | $1.4B |
| 总资产 | $14.1B | $3.7B |
| 负债/权益比越低杠杆越低 | 0.66× | 1.13× |
8季度趋势，按日历期对齐
现金及短期投资CFDFH
| Q4 25 | — | $234.8M | ||
| Q3 25 | — | $251.0M | ||
| Q2 25 | — | $210.3M | ||
| Q1 25 | — | $297.5M | ||
| Q4 24 | — | $274.4M | ||
| Q3 24 | — | $204.9M | ||
| Q2 24 | — | $274.8M | ||
| Q1 24 | — | $239.4M |
总债务CFDFH
| Q4 25 | $3.2B | $1.6B | ||
| Q3 25 | $3.0B | $1.8B | ||
| Q2 25 | $3.0B | — | ||
| Q1 25 | $3.0B | — | ||
| Q4 24 | $3.0B | $1.3B | ||
| Q3 24 | $3.0B | — | ||
| Q2 24 | $3.0B | — | ||
| Q1 24 | $3.0B | — |
股东权益CFDFH
| Q4 25 | $4.8B | $1.4B | ||
| Q3 25 | $4.8B | $1.4B | ||
| Q2 25 | $5.0B | $1.3B | ||
| Q1 25 | $4.8B | $1.3B | ||
| Q4 24 | $5.0B | $1.2B | ||
| Q3 24 | $5.2B | $1.1B | ||
| Q2 24 | $5.5B | $1.0B | ||
| Q1 24 | $5.4B | $968.7M |
总资产CFDFH
| Q4 25 | $14.1B | $3.7B | ||
| Q3 25 | $14.2B | $3.8B | ||
| Q2 25 | $13.8B | $3.7B | ||
| Q1 25 | $13.3B | $3.5B | ||
| Q4 24 | $13.5B | $3.3B | ||
| Q3 24 | $13.8B | $3.3B | ||
| Q2 24 | $13.8B | $3.0B | ||
| Q1 24 | $13.9B | $2.7B |
负债/权益比CFDFH
| Q4 25 | 0.66× | 1.13× | ||
| Q3 25 | 0.61× | 1.29× | ||
| Q2 25 | 0.60× | — | ||
| Q1 25 | 0.62× | — | ||
| Q4 24 | 0.60× | 1.03× | ||
| 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 | $143.6M |
| 自由现金流经营现金流 - 资本支出 | $313.0M | $136.0M |
| 自由现金流率自由现金流/营收 | 16.7% | 11.2% |
| 资本支出强度资本支出/营收 | 12.1% | 0.6% |
| 现金转化率经营现金流/净利润 | 1.09× | 2.44× |
| 过去12个月自由现金流最近4个季度 | $1.8B | $-126.4M |
8季度趋势，按日历期对齐
经营现金流CFDFH
| Q4 25 | $539.0M | $143.6M | ||
| Q3 25 | $1.1B | $-131.0M | ||
| Q2 25 | $563.0M | $-68.5M | ||
| Q1 25 | $586.0M | $-44.7M | ||
| Q4 24 | $420.0M | $306.5M | ||
| Q3 24 | $931.0M | $-205.0M | ||
| Q2 24 | $475.0M | $-110.6M | ||
| Q1 24 | $445.0M | $-247.5M |
自由现金流CFDFH
| Q4 25 | $313.0M | $136.0M | ||
| Q3 25 | $717.0M | $-135.7M | ||
| Q2 25 | $318.0M | $-78.8M | ||
| Q1 25 | $454.0M | $-47.9M | ||
| Q4 24 | $223.0M | $302.6M | ||
| Q3 24 | $792.0M | $-222.5M | ||
| Q2 24 | $391.0M | $-112.4M | ||
| Q1 24 | $347.0M | $-249.6M |
自由现金流率CFDFH
| Q4 25 | 16.7% | 11.2% | ||
| Q3 25 | 43.2% | -14.0% | ||
| Q2 25 | 16.8% | -6.8% | ||
| Q1 25 | 27.3% | -4.8% | ||
| Q4 24 | 14.6% | 19.4% | ||
| Q3 24 | 57.8% | -22.1% | ||
| Q2 24 | 24.9% | -10.6% | ||
| Q1 24 | 23.6% | -30.2% |
资本支出强度CFDFH
| Q4 25 | 12.1% | 0.6% | ||
| Q3 25 | 20.9% | 0.5% | ||
| Q2 25 | 13.0% | 0.9% | ||
| Q1 25 | 7.9% | 0.3% | ||
| Q4 24 | 12.9% | 0.3% | ||
| Q3 24 | 10.1% | 1.7% | ||
| Q2 24 | 5.3% | 0.2% | ||
| Q1 24 | 6.7% | 0.3% |
现金转化率CFDFH
| Q4 25 | 1.09× | 2.44× | ||
| Q3 25 | 2.31× | -2.79× | ||
| Q2 25 | 1.14× | -1.21× | ||
| Q1 25 | 1.67× | -0.81× | ||
| Q4 24 | 1.07× | 2.35× | ||
| Q3 24 | 2.73× | -2.90× | ||
| Q2 24 | 0.94× | -1.37× | ||
| Q1 24 | 1.87× | -4.54× |
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% |
DFH
| Midwest Segment | $454.2M | 37% |
| Southeast Segment | $397.5M | 33% |
| Mid Atlantic Segment | $307.3M | 25% |
| Financial Services Segment | $53.7M | 4% |
