vs
CF Industries（CF）与FTI CONSULTING, INC（FCN）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FTI CONSULTING, INC的1.9倍（$1.9B vs $990.7M），CF Industries净利率更高（26.4% vs 5.5%，领先20.9%），CF Industries同比增速更快（22.8% vs 10.7%），FTI CONSULTING, INC自由现金流更多（$351.4M vs $313.0M），过去两年CF Industries的营收复合增速更高（12.8% vs 3.3%）
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。
FTI咨询成立于1982年，总部位于美国华盛顿特区，是全球顶尖的金融咨询服务商之一。公司核心业务涵盖企业融资与重组、经济咨询、法务与诉讼咨询、战略传播、科技及战略咨询等领域，在31个国家拥有逾7700名员工。
CF vs FCN — 直观对比
营收规模更大
CF
是对方的1.9倍
$990.7M
营收增速更快
CF
高出12.1%
10.7%
净利率更高
CF
高出20.9%
5.5%
自由现金流更多
FCN
多$38.4M
$313.0M
两年增速更快
CF
近两年复合增速
3.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $990.7M |
| 净利润 | $495.0M | $54.5M |
| 毛利率 | 40.9% | 31.1% |
| 营业利润率 | 33.0% | 9.4% |
| 净利率 | 26.4% | 5.5% |
| 营收同比 | 22.8% | 10.7% |
| 净利润同比 | 26.3% | 9.7% |
| 每股收益（稀释后） | $2.56 | $1.77 |
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CFFCN
| Q4 25 | $1.9B | $990.7M | ||
| Q3 25 | $1.7B | $956.2M | ||
| Q2 25 | $1.9B | $943.7M | ||
| Q1 25 | $1.7B | $898.3M | ||
| Q4 24 | $1.5B | $894.9M | ||
| Q3 24 | $1.4B | $926.0M | ||
| Q2 24 | $1.6B | $949.2M | ||
| Q1 24 | $1.5B | $928.6M |
净利润CFFCN
| Q4 25 | $495.0M | $54.5M | ||
| Q3 25 | $460.0M | $82.8M | ||
| Q2 25 | $492.0M | $71.7M | ||
| Q1 25 | $351.0M | $61.8M | ||
| Q4 24 | $392.0M | $49.7M | ||
| Q3 24 | $341.0M | $66.5M | ||
| Q2 24 | $506.0M | $83.9M | ||
| Q1 24 | $238.0M | $80.0M |
毛利率CFFCN
| Q4 25 | 40.9% | 31.1% | ||
| Q3 25 | 38.1% | 33.3% | ||
| Q2 25 | 39.9% | 32.1% | ||
| Q1 25 | 34.4% | 32.2% | ||
| Q4 24 | 34.4% | 30.2% | ||
| Q3 24 | 32.4% | 32.2% | ||
| Q2 24 | 43.2% | 32.8% | ||
| Q1 24 | 27.8% | 32.6% |
营业利润率CFFCN
| Q4 25 | 33.0% | 9.4% | ||
| Q3 25 | 35.0% | 12.3% | ||
| Q2 25 | 34.3% | 10.5% | ||
| Q1 25 | 27.4% | 8.8% | ||
| Q4 24 | 28.9% | 5.9% | ||
| Q3 24 | 26.6% | 9.8% | ||
| Q2 24 | 40.6% | 11.0% | ||
| Q1 24 | 20.6% | 10.7% |
净利率CFFCN
| Q4 25 | 26.4% | 5.5% | ||
| Q3 25 | 27.7% | 8.7% | ||
| Q2 25 | 26.0% | 7.6% | ||
| Q1 25 | 21.1% | 6.9% | ||
| Q4 24 | 25.7% | 5.6% | ||
| Q3 24 | 24.9% | 7.2% | ||
| Q2 24 | 32.2% | 8.8% | ||
| Q1 24 | 16.2% | 8.6% |
每股收益（稀释后）CFFCN
| Q4 25 | $2.56 | $1.77 | ||
| Q3 25 | $2.19 | $2.60 | ||
| Q2 25 | $2.37 | $2.13 | ||
| Q1 25 | $1.85 | $1.74 | ||
| Q4 24 | $1.86 | $1.39 | ||
| Q3 24 | $1.55 | $1.85 | ||
| Q2 24 | $2.30 | $2.34 | ||
| Q1 24 | $1.03 | $2.23 |
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 | — | $265.1M |
| 总债务越低越好 | $3.2B | — |
| 股东权益账面价值 | $4.8B | $1.7B |
| 总资产 | $14.1B | $3.5B |
| 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CFFCN
| Q4 25 | — | $265.1M | ||
| Q3 25 | — | $146.0M | ||
| Q2 25 | — | $152.8M | ||
| Q1 25 | — | $151.1M | ||
| Q4 24 | — | $660.5M | ||
| Q3 24 | — | $386.3M | ||
| Q2 24 | — | $226.4M | ||
| Q1 24 | — | $244.0M |
总债务CFFCN
| Q4 25 | $3.2B | — | ||
| Q3 25 | $3.0B | — | ||
| Q2 25 | $3.0B | — | ||
| Q1 25 | $3.0B | — | ||
| Q4 24 | $3.0B | $0 | ||
| Q3 24 | $3.0B | — | ||
| Q2 24 | $3.0B | $60.0M | ||
| Q1 24 | $3.0B | $205.0M |
股东权益CFFCN
| Q4 25 | $4.8B | $1.7B | ||
| Q3 25 | $4.8B | $1.7B | ||
| Q2 25 | $5.0B | $1.9B | ||
| Q1 25 | $4.8B | $2.1B | ||
| Q4 24 | $5.0B | $2.3B | ||
| Q3 24 | $5.2B | $2.3B | ||
| Q2 24 | $5.5B | $2.1B | ||
| Q1 24 | $5.4B | $2.1B |
总资产CFFCN
| Q4 25 | $14.1B | $3.5B | ||
| Q3 25 | $14.2B | $3.5B | ||
| Q2 25 | $13.8B | $3.5B | ||
| Q1 25 | $13.3B | $3.3B | ||
| Q4 24 | $13.5B | $3.6B | ||
| Q3 24 | $13.8B | $3.5B | ||
| Q2 24 | $13.8B | $3.4B | ||
| Q1 24 | $13.9B | $3.3B |
负债/权益比CFFCN
| Q4 25 | 0.66× | — | ||
| Q3 25 | 0.61× | — | ||
| Q2 25 | 0.60× | — | ||
| Q1 25 | 0.62× | — | ||
| Q4 24 | 0.60× | 0.00× | ||
| Q3 24 | 0.57× | — | ||
| Q2 24 | 0.54× | 0.03× | ||
| Q1 24 | 0.55× | 0.10× |
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 | $359.8M |
| 自由现金流经营现金流 - 资本支出 | $313.0M | $351.4M |
| 自由现金流率自由现金流/营收 | 16.7% | 35.5% |
| 资本支出强度资本支出/营收 | 12.1% | 0.8% |
| 现金转化率经营现金流/净利润 | 1.09× | 6.60× |
| 过去12个月自由现金流最近4个季度 | $1.8B | $93.6M |
8季度趋势，按日历期对齐
经营现金流CFFCN
| Q4 25 | $539.0M | $359.8M | ||
| Q3 25 | $1.1B | $201.9M | ||
| Q2 25 | $563.0M | $55.7M | ||
| Q1 25 | $586.0M | $-465.2M | ||
| Q4 24 | $420.0M | $315.3M | ||
| Q3 24 | $931.0M | $219.4M | ||
| Q2 24 | $475.0M | $135.2M | ||
| Q1 24 | $445.0M | $-274.8M |
自由现金流CFFCN
| Q4 25 | $313.0M | $351.4M | ||
| Q3 25 | $717.0M | $187.0M | ||
| Q2 25 | $318.0M | $38.3M | ||
| Q1 25 | $454.0M | $-483.0M | ||
| Q4 24 | $223.0M | $301.6M | ||
| Q3 24 | $792.0M | $212.3M | ||
| Q2 24 | $391.0M | $125.2M | ||
| Q1 24 | $347.0M | $-279.5M |
自由现金流率CFFCN
| Q4 25 | 16.7% | 35.5% | ||
| Q3 25 | 43.2% | 19.6% | ||
| Q2 25 | 16.8% | 4.1% | ||
| Q1 25 | 27.3% | -53.8% | ||
| Q4 24 | 14.6% | 33.7% | ||
| Q3 24 | 57.8% | 22.9% | ||
| Q2 24 | 24.9% | 13.2% | ||
| Q1 24 | 23.6% | -30.1% |
资本支出强度CFFCN
| Q4 25 | 12.1% | 0.8% | ||
| Q3 25 | 20.9% | 1.6% | ||
| Q2 25 | 13.0% | 1.8% | ||
| Q1 25 | 7.9% | 2.0% | ||
| Q4 24 | 12.9% | 1.5% | ||
| Q3 24 | 10.1% | 0.8% | ||
| Q2 24 | 5.3% | 1.1% | ||
| Q1 24 | 6.7% | 0.5% |
现金转化率CFFCN
| Q4 25 | 1.09× | 6.60× | ||
| Q3 25 | 2.31× | 2.44× | ||
| Q2 25 | 1.14× | 0.78× | ||
| Q1 25 | 1.67× | -7.52× | ||
| Q4 24 | 1.07× | 6.34× | ||
| Q3 24 | 2.73× | 3.30× | ||
| Q2 24 | 0.94× | 1.61× | ||
| Q1 24 | 1.87× | -3.44× |
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% |
FCN
| Corporate Finance Segment | $423.2M | 43% |
| Forensic And Litigation Consulting | $192.9M | 19% |
| Economic Consulting | $176.2M | 18% |
| Strategic Communications | $99.4M | 10% |
| Other | $99.0M | 10% |
