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CF Industries（CF）与Shift4 Payments, Inc.（FOUR）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Shift4 Payments, Inc.的1.7倍（$2.0B vs $1.2B），CF Industries净利率更高（31.0% vs 3.4%，领先27.6%），Shift4 Payments, Inc.同比增速更快（34.0% vs 19.4%），CF Industries自由现金流更多（$1.7B vs $222.5M），过去两年Shift4 Payments, Inc.的营收复合增速更高（29.6% vs 12.4%）
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。
Shift4 Payments是美国支付处理服务商，总部位于宾夕法尼亚州阿伦敦，1999年由贾里德·艾萨克曼创立。公司为零售、酒店、休闲、餐饮等行业超20万家商户提供支付处理服务，主营移动支付软硬件等商业技术，2020年于纽约证券交易所挂牌上市。
CF vs FOUR — 直观对比
营收规模更大
CF
是对方的1.7倍
$1.2B
营收增速更快
FOUR
高出14.6%
19.4%
净利率更高
CF
高出27.6%
3.4%
自由现金流更多
CF
多$1.4B
$222.5M
两年增速更快
FOUR
近两年复合增速
12.4%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $1.2B |
| 净利润 | $615.0M | $40.2M |
| 毛利率 | 37.6% | — |
| 营业利润率 | 43.5% | 10.8% |
| 净利率 | 31.0% | 3.4% |
| 营收同比 | 19.4% | 34.0% |
| 净利润同比 | 97.1% | -65.3% |
| 每股收益（稀释后） | $3.98 | — |
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CFFOUR
| Q1 26 | $2.0B | — | ||
| Q4 25 | $1.9B | $1.2B | ||
| Q3 25 | $1.7B | $1.2B | ||
| Q2 25 | $1.9B | $966.2M | ||
| Q1 25 | $1.7B | $848.3M | ||
| Q4 24 | $1.5B | $887.0M | ||
| Q3 24 | $1.4B | $909.2M | ||
| Q2 24 | $1.6B | $827.0M |
净利润CFFOUR
| Q1 26 | $615.0M | — | ||
| Q4 25 | $495.0M | $40.2M | ||
| Q3 25 | $460.0M | $28.1M | ||
| Q2 25 | $492.0M | $34.0M | ||
| Q1 25 | $351.0M | $16.7M | ||
| Q4 24 | $392.0M | $116.0M | ||
| Q3 24 | $341.0M | $53.8M | ||
| Q2 24 | $506.0M | $39.2M |
毛利率CFFOUR
| Q1 26 | 37.6% | — | ||
| 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% | — |
营业利润率CFFOUR
| Q1 26 | 43.5% | — | ||
| Q4 25 | 33.0% | 10.8% | ||
| Q3 25 | 35.0% | 9.7% | ||
| Q2 25 | 34.3% | 8.6% | ||
| Q1 25 | 27.4% | 3.0% | ||
| Q4 24 | 28.9% | 9.7% | ||
| Q3 24 | 26.6% | 8.8% | ||
| Q2 24 | 40.6% | 7.2% |
净利率CFFOUR
| Q1 26 | 31.0% | — | ||
| Q4 25 | 26.4% | 3.4% | ||
| Q3 25 | 27.7% | 2.4% | ||
| Q2 25 | 26.0% | 3.5% | ||
| Q1 25 | 21.1% | 2.0% | ||
| Q4 24 | 25.7% | 13.1% | ||
| Q3 24 | 24.9% | 5.9% | ||
| Q2 24 | 32.2% | 4.7% |
每股收益（稀释后）CFFOUR
| Q1 26 | $3.98 | — | ||
| Q4 25 | $2.56 | — | ||
| Q3 25 | $2.19 | — | ||
| Q2 25 | $2.37 | — | ||
| Q1 25 | $1.85 | — | ||
| Q4 24 | $1.86 | — | ||
| Q3 24 | $1.55 | — | ||
| Q2 24 | $2.30 | — |
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 | — | $964.0M |
| 总债务越低越好 | $3.2B | $4.5B |
| 股东权益账面价值 | $5.3B | $1.4B |
| 总资产 | $14.6B | $8.7B |
| 负债/权益比越低杠杆越低 | 0.60× | 3.15× |
8季度趋势，按日历期对齐
现金及短期投资CFFOUR
| Q1 26 | — | — | ||
| Q4 25 | — | $964.0M | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | — | $3.0B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | $205.0M |
总债务CFFOUR
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | $4.5B | ||
| Q3 25 | $3.0B | $4.7B | ||
| Q2 25 | $3.0B | $3.7B | ||
| Q1 25 | $3.0B | $2.8B | ||
| Q4 24 | $3.0B | $2.8B | ||
| Q3 24 | $3.0B | — | ||
| Q2 24 | $3.0B | — |
股东权益CFFOUR
| Q1 26 | $5.3B | — | ||
| Q4 25 | $4.8B | $1.4B | ||
| Q3 25 | $4.8B | $1.7B | ||
| Q2 25 | $5.0B | $1.6B | ||
| Q1 25 | $4.8B | $805.2M | ||
| Q4 24 | $5.0B | $806.6M | ||
| Q3 24 | $5.2B | $811.8M | ||
| Q2 24 | $5.5B | $700.8M |
总资产CFFOUR
| Q1 26 | $14.6B | — | ||
| Q4 25 | $14.1B | $8.7B | ||
| Q3 25 | $14.2B | $9.0B | ||
| Q2 25 | $13.8B | $7.0B | ||
| Q1 25 | $13.3B | $5.0B | ||
| Q4 24 | $13.5B | $5.0B | ||
| Q3 24 | $13.8B | $5.0B | ||
| Q2 24 | $13.8B | $3.5B |
负债/权益比CFFOUR
| Q1 26 | 0.60× | — | ||
| Q4 25 | 0.66× | 3.15× | ||
| Q3 25 | 0.61× | 2.83× | ||
| Q2 25 | 0.60× | 2.34× | ||
| Q1 25 | 0.62× | 3.53× | ||
| Q4 24 | 0.60× | 3.52× | ||
| Q3 24 | 0.57× | — | ||
| Q2 24 | 0.54× | — |
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 | $496.0M | $223.7M |
| 自由现金流经营现金流 - 资本支出 | $1.7B | $222.5M |
| 自由现金流率自由现金流/营收 | 83.2% | 18.7% |
| 资本支出强度资本支出/营收 | 11.2% | 0.1% |
| 现金转化率经营现金流/净利润 | 0.81× | 5.56× |
| 过去12个月自由现金流最近4个季度 | $3.0B | $624.0M |
8季度趋势，按日历期对齐
经营现金流CFFOUR
| Q1 26 | $496.0M | — | ||
| Q4 25 | $539.0M | $223.7M | ||
| Q3 25 | $1.1B | $171.8M | ||
| Q2 25 | $563.0M | $141.9M | ||
| Q1 25 | $586.0M | $96.6M | ||
| Q4 24 | $420.0M | $145.4M | ||
| Q3 24 | $931.0M | $182.1M | ||
| Q2 24 | $475.0M | $116.1M |
自由现金流CFFOUR
| Q1 26 | $1.7B | — | ||
| Q4 25 | $313.0M | $222.5M | ||
| Q3 25 | $717.0M | $165.4M | ||
| Q2 25 | $318.0M | $141.0M | ||
| Q1 25 | $454.0M | $95.1M | ||
| Q4 24 | $223.0M | $143.8M | ||
| Q3 24 | $792.0M | $180.1M | ||
| Q2 24 | $391.0M | $113.9M |
自由现金流率CFFOUR
| Q1 26 | 83.2% | — | ||
| Q4 25 | 16.7% | 18.7% | ||
| Q3 25 | 43.2% | 14.1% | ||
| Q2 25 | 16.8% | 14.6% | ||
| Q1 25 | 27.3% | 11.2% | ||
| Q4 24 | 14.6% | 16.2% | ||
| Q3 24 | 57.8% | 19.8% | ||
| Q2 24 | 24.9% | 13.8% |
资本支出强度CFFOUR
| Q1 26 | 11.2% | — | ||
| Q4 25 | 12.1% | 0.1% | ||
| Q3 25 | 20.9% | 0.5% | ||
| Q2 25 | 13.0% | 0.1% | ||
| Q1 25 | 7.9% | 0.2% | ||
| Q4 24 | 12.9% | 0.2% | ||
| Q3 24 | 10.1% | 0.2% | ||
| Q2 24 | 5.3% | 0.3% |
现金转化率CFFOUR
| Q1 26 | 0.81× | — | ||
| Q4 25 | 1.09× | 5.56× | ||
| Q3 25 | 2.31× | 6.11× | ||
| Q2 25 | 1.14× | 4.17× | ||
| Q1 25 | 1.67× | 5.78× | ||
| Q4 24 | 1.07× | 1.25× | ||
| Q3 24 | 2.73× | 3.38× | ||
| Q2 24 | 0.94× | 2.96× |
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
| EBITDA | $1.0B | 51% |
| Other | $975.0M | 49% |
| Loss on foreign currency transactions | $3.0M | 0% |
FOUR
| Payments Based Revenue | $788.8M | 66% |
| Other | $255.0M | 21% |
| Subscription And Other Revenues | $144.8M | 12% |
