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CF Industries（CF）与Fabrinet（FN）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Fabrinet的1.7倍（$1.9B vs $1.1B），CF Industries净利率更高（26.4% vs 9.9%，领先16.5%），Fabrinet同比增速更快（35.9% vs 22.8%），CF Industries自由现金流更多（$313.0M vs $-5.3M），过去两年Fabrinet的营收复合增速更高（24.4% 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。
Fabrinet（股票代码FN）为标普中型股400指数成分股。该指数由标普道琼斯指数公司维护，覆盖400家以美企为主的中等市值企业，若成分企业存在多类流通股，指数的成分股总量有时会超过400只。
CF vs FN — 直观对比
营收规模更大
CF
是对方的1.7倍
$1.1B
营收增速更快
FN
高出13.1%
22.8%
净利率更高
CF
高出16.5%
9.9%
自由现金流更多
CF
多$318.3M
$-5.3M
两年增速更快
FN
近两年复合增速
12.8%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $1.1B |
| 净利润 | $495.0M | $112.6M |
| 毛利率 | 40.9% | 12.2% |
| 营业利润率 | 33.0% | 10.1% |
| 净利率 | 26.4% | 9.9% |
| 营收同比 | 22.8% | 35.9% |
| 净利润同比 | 26.3% | 30.0% |
| 每股收益（稀释后） | $2.56 | $3.11 |
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CFFN
| Q4 25 | $1.9B | $1.1B | ||
| Q3 25 | $1.7B | $978.1M | ||
| Q2 25 | $1.9B | $909.7M | ||
| Q1 25 | $1.7B | $871.8M | ||
| Q4 24 | $1.5B | $833.6M | ||
| Q3 24 | $1.4B | $804.2M | ||
| Q2 24 | $1.6B | $753.3M | ||
| Q1 24 | $1.5B | $731.5M |
净利润CFFN
| Q4 25 | $495.0M | $112.6M | ||
| Q3 25 | $460.0M | $95.9M | ||
| Q2 25 | $492.0M | $87.2M | ||
| Q1 25 | $351.0M | $81.3M | ||
| Q4 24 | $392.0M | $86.6M | ||
| Q3 24 | $341.0M | $77.4M | ||
| Q2 24 | $506.0M | $81.1M | ||
| Q1 24 | $238.0M | $80.9M |
毛利率CFFN
| Q4 25 | 40.9% | 12.2% | ||
| Q3 25 | 38.1% | 11.9% | ||
| Q2 25 | 39.9% | 12.2% | ||
| Q1 25 | 34.4% | 11.7% | ||
| Q4 24 | 34.4% | 12.1% | ||
| Q3 24 | 32.4% | 12.3% | ||
| Q2 24 | 43.2% | 12.3% | ||
| Q1 24 | 27.8% | 12.4% |
营业利润率CFFN
| Q4 25 | 33.0% | 10.1% | ||
| Q3 25 | 35.0% | 9.6% | ||
| Q2 25 | 34.3% | 9.8% | ||
| Q1 25 | 27.4% | 9.0% | ||
| Q4 24 | 28.9% | 9.5% | ||
| Q3 24 | 26.6% | 9.6% | ||
| Q2 24 | 40.6% | 9.7% | ||
| Q1 24 | 20.6% | 9.7% |
净利率CFFN
| Q4 25 | 26.4% | 9.9% | ||
| Q3 25 | 27.7% | 9.8% | ||
| Q2 25 | 26.0% | 9.6% | ||
| Q1 25 | 21.1% | 9.3% | ||
| Q4 24 | 25.7% | 10.4% | ||
| Q3 24 | 24.9% | 9.6% | ||
| Q2 24 | 32.2% | 10.8% | ||
| Q1 24 | 16.2% | 11.1% |
每股收益（稀释后）CFFN
| Q4 25 | $2.56 | $3.11 | ||
| Q3 25 | $2.19 | $2.66 | ||
| Q2 25 | $2.37 | $2.41 | ||
| Q1 25 | $1.85 | $2.25 | ||
| Q4 24 | $1.86 | $2.38 | ||
| Q3 24 | $1.55 | $2.13 | ||
| Q2 24 | $2.30 | $2.22 | ||
| Q1 24 | $1.03 | $2.21 |
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 | — | $960.8M |
| 总债务越低越好 | $3.2B | — |
| 股东权益账面价值 | $4.8B | $2.2B |
| 总资产 | $14.1B | $3.3B |
| 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CFFN
| Q4 25 | — | $960.8M | ||
| Q3 25 | — | $968.8M | ||
| Q2 25 | — | $934.2M | ||
| Q1 25 | — | $950.7M | ||
| Q4 24 | — | $934.6M | ||
| Q3 24 | — | $908.9M | ||
| Q2 24 | — | $858.6M | ||
| Q1 24 | — | $794.0M |
总债务CFFN
| 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CFFN
| Q4 25 | $4.8B | $2.2B | ||
| Q3 25 | $4.8B | $2.1B | ||
| Q2 25 | $5.0B | $2.0B | ||
| Q1 25 | $4.8B | $1.9B | ||
| Q4 24 | $5.0B | $1.8B | ||
| Q3 24 | $5.2B | $1.8B | ||
| Q2 24 | $5.5B | $1.7B | ||
| Q1 24 | $5.4B | $1.7B |
总资产CFFN
| Q4 25 | $14.1B | $3.3B | ||
| Q3 25 | $14.2B | $3.0B | ||
| Q2 25 | $13.8B | $2.8B | ||
| Q1 25 | $13.3B | $2.6B | ||
| Q4 24 | $13.5B | $2.5B | ||
| Q3 24 | $13.8B | $2.4B | ||
| Q2 24 | $13.8B | $2.3B | ||
| Q1 24 | $13.9B | $2.2B |
负债/权益比CFFN
| 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 | $46.3M |
| 自由现金流经营现金流 - 资本支出 | $313.0M | $-5.3M |
| 自由现金流率自由现金流/营收 | 16.7% | -0.5% |
| 资本支出强度资本支出/营收 | 12.1% | 4.6% |
| 现金转化率经营现金流/净利润 | 1.09× | 0.41× |
| 过去12个月自由现金流最近4个季度 | $1.8B | $102.3M |
8季度趋势，按日历期对齐
经营现金流CFFN
| Q4 25 | $539.0M | $46.3M | ||
| Q3 25 | $1.1B | $102.6M | ||
| Q2 25 | $563.0M | $55.1M | ||
| Q1 25 | $586.0M | $74.2M | ||
| Q4 24 | $420.0M | $115.9M | ||
| Q3 24 | $931.0M | $83.2M | ||
| Q2 24 | $475.0M | $83.1M | ||
| Q1 24 | $445.0M | $100.9M |
自由现金流CFFN
| Q4 25 | $313.0M | $-5.3M | ||
| Q3 25 | $717.0M | $57.3M | ||
| Q2 25 | $318.0M | $4.7M | ||
| Q1 25 | $454.0M | $45.7M | ||
| Q4 24 | $223.0M | $94.0M | ||
| Q3 24 | $792.0M | $62.9M | ||
| Q2 24 | $391.0M | $70.4M | ||
| Q1 24 | $347.0M | $87.3M |
自由现金流率CFFN
| Q4 25 | 16.7% | -0.5% | ||
| Q3 25 | 43.2% | 5.9% | ||
| Q2 25 | 16.8% | 0.5% | ||
| Q1 25 | 27.3% | 5.2% | ||
| Q4 24 | 14.6% | 11.3% | ||
| Q3 24 | 57.8% | 7.8% | ||
| Q2 24 | 24.9% | 9.3% | ||
| Q1 24 | 23.6% | 11.9% |
资本支出强度CFFN
| Q4 25 | 12.1% | 4.6% | ||
| Q3 25 | 20.9% | 4.6% | ||
| Q2 25 | 13.0% | 5.5% | ||
| Q1 25 | 7.9% | 3.3% | ||
| Q4 24 | 12.9% | 2.6% | ||
| Q3 24 | 10.1% | 2.5% | ||
| Q2 24 | 5.3% | 1.7% | ||
| Q1 24 | 6.7% | 1.9% |
现金转化率CFFN
| Q4 25 | 1.09× | 0.41× | ||
| Q3 25 | 2.31× | 1.07× | ||
| Q2 25 | 1.14× | 0.63× | ||
| Q1 25 | 1.67× | 0.91× | ||
| Q4 24 | 1.07× | 1.34× | ||
| Q3 24 | 2.73× | 1.07× | ||
| Q2 24 | 0.94× | 1.02× | ||
| Q1 24 | 1.87× | 1.25× |
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% |
FN
| Optical Communications | $832.6M | 73% |
| Non Optical Communications | $300.3M | 27% |
