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CF Industries（CF）与盖璞（GAP）财务数据对比。点击上方公司名可切换其他公司
盖璞的季度营收约是CF Industries的2.0倍（$3.9B vs $2.0B），CF Industries净利率更高（31.0% vs 6.0%，领先25.0%），CF Industries同比增速更快（19.4% vs 3.0%），CF Industries自由现金流更多（$1.7B vs $153.0M），过去两年CF Industries的营收复合增速更高（12.4% vs -4.2%）
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。
盖璞（Gap Inc.）是总部位于美国加利福尼亚州旧金山的跨国服饰零售商，1969年由唐纳德·费舍尔与多丽丝·费舍尔创立，旗下拥有Gap、Banana Republic、Old Navy、Athleta四大核心品牌，是美国最大的服饰零售商之一，全球门店数量位列全球第三，仅次于Inditex集团和H&M。
CF vs GAP — 直观对比
营收规模更大
GAP
是对方的2.0倍
$2.0B
营收增速更快
CF
高出16.5%
3.0%
净利率更高
CF
高出25.0%
6.0%
自由现金流更多
CF
多$1.5B
$153.0M
两年增速更快
CF
近两年复合增速
-4.2%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $3.9B |
| 净利润 | $615.0M | $236.0M |
| 毛利率 | 37.6% | 42.4% |
| 营业利润率 | 43.5% | 8.5% |
| 净利率 | 31.0% | 6.0% |
| 营收同比 | 19.4% | 3.0% |
| 净利润同比 | 97.1% | -13.9% |
| 每股收益（稀释后） | $3.98 | $0.62 |
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CFGAP
| Q1 26 | $2.0B | — | ||
| Q4 25 | $1.9B | $3.9B | ||
| Q3 25 | $1.7B | $3.7B | ||
| Q2 25 | $1.9B | $3.5B | ||
| Q1 25 | $1.7B | $4.1B | ||
| Q4 24 | $1.5B | $3.8B | ||
| Q3 24 | $1.4B | $3.7B | ||
| Q2 24 | $1.6B | $3.4B |
净利润CFGAP
| Q1 26 | $615.0M | — | ||
| Q4 25 | $495.0M | $236.0M | ||
| Q3 25 | $460.0M | $216.0M | ||
| Q2 25 | $492.0M | $193.0M | ||
| Q1 25 | $351.0M | $206.0M | ||
| Q4 24 | $392.0M | $274.0M | ||
| Q3 24 | $341.0M | $206.0M | ||
| Q2 24 | $506.0M | $158.0M |
毛利率CFGAP
| Q1 26 | 37.6% | — | ||
| Q4 25 | 40.9% | 42.4% | ||
| Q3 25 | 38.1% | 41.2% | ||
| Q2 25 | 39.9% | 41.8% | ||
| Q1 25 | 34.4% | 38.9% | ||
| Q4 24 | 34.4% | 42.7% | ||
| Q3 24 | 32.4% | 42.6% | ||
| Q2 24 | 43.2% | 41.2% |
营业利润率CFGAP
| Q1 26 | 43.5% | — | ||
| Q4 25 | 33.0% | 8.5% | ||
| Q3 25 | 35.0% | 7.8% | ||
| Q2 25 | 34.3% | 7.5% | ||
| Q1 25 | 27.4% | 6.2% | ||
| Q4 24 | 28.9% | 9.3% | ||
| Q3 24 | 26.6% | 7.9% | ||
| Q2 24 | 40.6% | 6.1% |
净利率CFGAP
| Q1 26 | 31.0% | — | ||
| Q4 25 | 26.4% | 6.0% | ||
| Q3 25 | 27.7% | 5.8% | ||
| Q2 25 | 26.0% | 5.6% | ||
| Q1 25 | 21.1% | 5.0% | ||
| Q4 24 | 25.7% | 7.2% | ||
| Q3 24 | 24.9% | 5.5% | ||
| Q2 24 | 32.2% | 4.7% |
每股收益（稀释后）CFGAP
| Q1 26 | $3.98 | — | ||
| Q4 25 | $2.56 | $0.62 | ||
| Q3 25 | $2.19 | $0.57 | ||
| Q2 25 | $2.37 | $0.51 | ||
| Q1 25 | $1.85 | $0.53 | ||
| Q4 24 | $1.86 | $0.72 | ||
| Q3 24 | $1.55 | $0.54 | ||
| Q2 24 | $2.30 | $0.41 |
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 | — | $2.5B |
| 总债务越低越好 | $3.2B | — |
| 股东权益账面价值 | $5.3B | $3.6B |
| 总资产 | $14.6B | $12.4B |
| 负债/权益比越低杠杆越低 | 0.60× | — |
8季度趋势，按日历期对齐
现金及短期投资CFGAP
| Q1 26 | — | — | ||
| Q4 25 | — | $2.5B | ||
| Q3 25 | — | $2.4B | ||
| Q2 25 | — | $2.2B | ||
| Q1 25 | — | $2.6B | ||
| Q4 24 | — | $2.2B | ||
| Q3 24 | — | $2.1B | ||
| Q2 24 | — | $1.7B |
总债务CFGAP
| Q1 26 | $3.2B | — | ||
| 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 | — |
股东权益CFGAP
| Q1 26 | $5.3B | — | ||
| Q4 25 | $4.8B | $3.6B | ||
| Q3 25 | $4.8B | $3.4B | ||
| Q2 25 | $5.0B | $3.3B | ||
| Q1 25 | $4.8B | $3.3B | ||
| Q4 24 | $5.0B | $3.1B | ||
| Q3 24 | $5.2B | $2.9B | ||
| Q2 24 | $5.5B | $2.7B |
总资产CFGAP
| Q1 26 | $14.6B | — | ||
| Q4 25 | $14.1B | $12.4B | ||
| Q3 25 | $14.2B | $12.1B | ||
| Q2 25 | $13.8B | $11.6B | ||
| Q1 25 | $13.3B | $11.9B | ||
| Q4 24 | $13.5B | $11.9B | ||
| Q3 24 | $13.8B | $11.5B | ||
| Q2 24 | $13.8B | $10.9B |
负债/权益比CFGAP
| Q1 26 | 0.60× | — | ||
| 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× | — |
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 | $299.0M |
| 自由现金流经营现金流 - 资本支出 | $1.7B | $153.0M |
| 自由现金流率自由现金流/营收 | 83.2% | 3.9% |
| 资本支出强度资本支出/营收 | 11.2% | 3.7% |
| 现金转化率经营现金流/净利润 | 0.81× | 1.27× |
| 过去12个月自由现金流最近4个季度 | $3.0B | $779.0M |
8季度趋势，按日历期对齐
经营现金流CFGAP
| Q1 26 | $496.0M | — | ||
| Q4 25 | $539.0M | $299.0M | ||
| Q3 25 | $1.1B | $448.0M | ||
| Q2 25 | $563.0M | $-140.0M | ||
| Q1 25 | $586.0M | $616.0M | ||
| Q4 24 | $420.0M | $291.0M | ||
| Q3 24 | $931.0M | $549.0M | ||
| Q2 24 | $475.0M | $30.0M |
自由现金流CFGAP
| Q1 26 | $1.7B | — | ||
| Q4 25 | $313.0M | $153.0M | ||
| Q3 25 | $717.0M | $350.0M | ||
| Q2 25 | $318.0M | $-223.0M | ||
| Q1 25 | $454.0M | $499.0M | ||
| Q4 24 | $223.0M | $143.0M | ||
| Q3 24 | $792.0M | $460.0M | ||
| Q2 24 | $391.0M | $-63.0M |
自由现金流率CFGAP
| Q1 26 | 83.2% | — | ||
| Q4 25 | 16.7% | 3.9% | ||
| Q3 25 | 43.2% | 9.4% | ||
| Q2 25 | 16.8% | -6.4% | ||
| Q1 25 | 27.3% | 12.0% | ||
| Q4 24 | 14.6% | 3.7% | ||
| Q3 24 | 57.8% | 12.4% | ||
| Q2 24 | 24.9% | -1.9% |
资本支出强度CFGAP
| Q1 26 | 11.2% | — | ||
| Q4 25 | 12.1% | 3.7% | ||
| Q3 25 | 20.9% | 2.6% | ||
| Q2 25 | 13.0% | 2.4% | ||
| Q1 25 | 7.9% | 2.8% | ||
| Q4 24 | 12.9% | 3.9% | ||
| Q3 24 | 10.1% | 2.4% | ||
| Q2 24 | 5.3% | 2.7% |
现金转化率CFGAP
| Q1 26 | 0.81× | — | ||
| Q4 25 | 1.09× | 1.27× | ||
| Q3 25 | 2.31× | 2.07× | ||
| Q2 25 | 1.14× | -0.73× | ||
| Q1 25 | 1.67× | 2.99× | ||
| Q4 24 | 1.07× | 1.06× | ||
| Q3 24 | 2.73× | 2.67× | ||
| Q2 24 | 0.94× | 0.19× |
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% |
GAP
| Other | $2.2B | 55% |
| Online Sales | $1.6B | 40% |
| CA | $191.0M | 5% |
| Other Regions | $13.0M | 0% |
