vs
CF Industries（CF）与LOUISIANA-PACIFIC CORP（LPX）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LOUISIANA-PACIFIC CORP的3.3倍（$1.9B vs $566.0M）。CF Industries净利率更高（26.4% vs -1.4%，领先27.9%）。CF Industries同比增速更快（22.8% vs -16.9%）。CF Industries自由现金流更多（$313.0M vs $-8.0M）。过去两年CF Industries的营收复合增速更高（12.8% vs -11.6%）
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。
路易斯安那-太平洋公司（简称LP）是美国知名建材制造商，成立于1973年，是美国定向结构刨花板（OSB）生产的开创者，总部现位于田纳西州纳什维尔。作为全球最大的OSB生产商，公司还生产工程木建材产品，通过建材分销商、经销商及家居零售中心向建筑商和业主供货。
CF vs LPX — 直观对比
营收规模更大
CF
是对方的3.3倍
$566.0M
营收增速更快
CF
高出39.7%
-16.9%
净利率更高
CF
高出27.9%
-1.4%
自由现金流更多
CF
多$321.0M
$-8.0M
两年增速更快
CF
近两年复合增速
-11.6%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $566.0M |
| 净利润 | $495.0M | $-8.0M |
| 毛利率 | 40.9% | 15.0% |
| 营业利润率 | 33.0% | -1.6% |
| 净利率 | 26.4% | -1.4% |
| 营收同比 | 22.8% | -16.9% |
| 净利润同比 | 26.3% | -112.9% |
| 每股收益（稀释后） | $2.56 | $-0.12 |
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CFLPX
| Q4 25 | $1.9B | $566.0M | ||
| Q3 25 | $1.7B | $663.0M | ||
| Q2 25 | $1.9B | $755.0M | ||
| Q1 25 | $1.7B | $724.0M | ||
| Q4 24 | $1.5B | $681.0M | ||
| Q3 24 | $1.4B | $722.0M | ||
| Q2 24 | $1.6B | $814.0M | ||
| Q1 24 | $1.5B | $724.0M |
净利润CFLPX
| Q4 25 | $495.0M | $-8.0M | ||
| Q3 25 | $460.0M | $9.0M | ||
| Q2 25 | $492.0M | $54.0M | ||
| Q1 25 | $351.0M | $91.0M | ||
| Q4 24 | $392.0M | $62.0M | ||
| Q3 24 | $341.0M | $90.0M | ||
| Q2 24 | $506.0M | $160.0M | ||
| Q1 24 | $238.0M | $108.0M |
毛利率CFLPX
| Q4 25 | 40.9% | 15.0% | ||
| Q3 25 | 38.1% | 19.5% | ||
| Q2 25 | 39.9% | 23.6% | ||
| Q1 25 | 34.4% | 27.2% | ||
| Q4 24 | 34.4% | 23.8% | ||
| Q3 24 | 32.4% | 26.7% | ||
| Q2 24 | 43.2% | 32.3% | ||
| Q1 24 | 27.8% | 29.6% |
营业利润率CFLPX
| Q4 25 | 33.0% | -1.6% | ||
| Q3 25 | 35.0% | 2.7% | ||
| Q2 25 | 34.3% | 10.6% | ||
| Q1 25 | 27.4% | 16.6% | ||
| Q4 24 | 28.9% | 11.0% | ||
| Q3 24 | 26.6% | 16.1% | ||
| Q2 24 | 40.6% | 23.8% | ||
| Q1 24 | 20.6% | 20.0% |
净利率CFLPX
| Q4 25 | 26.4% | -1.4% | ||
| Q3 25 | 27.7% | 1.4% | ||
| Q2 25 | 26.0% | 7.2% | ||
| Q1 25 | 21.1% | 12.6% | ||
| Q4 24 | 25.7% | 9.1% | ||
| Q3 24 | 24.9% | 12.5% | ||
| Q2 24 | 32.2% | 19.7% | ||
| Q1 24 | 16.2% | 14.9% |
每股收益（稀释后）CFLPX
| Q4 25 | $2.56 | $-0.12 | ||
| Q3 25 | $2.19 | $0.13 | ||
| Q2 25 | $2.37 | $0.77 | ||
| Q1 25 | $1.85 | $1.30 | ||
| Q4 24 | $1.86 | $0.90 | ||
| Q3 24 | $1.55 | $1.28 | ||
| Q2 24 | $2.30 | $2.23 | ||
| Q1 24 | $1.03 | $1.48 |
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 | — | $292.0M |
| 总债务越低越好 | $3.2B | $348.0M |
| 股东权益账面价值 | $4.8B | $1.7B |
| 总资产 | $14.1B | $2.6B |
| 负债/权益比越低杠杆越低 | 0.66× | 0.20× |
8季度趋势，按日历期对齐
现金及短期投资CFLPX
| Q4 25 | — | $292.0M | ||
| Q3 25 | — | $316.0M | ||
| Q2 25 | — | $333.0M | ||
| Q1 25 | — | $256.0M | ||
| Q4 24 | — | $340.0M | ||
| Q3 24 | — | $346.0M | ||
| Q2 24 | — | $317.0M | ||
| Q1 24 | — | $244.0M |
总债务CFLPX
| Q4 25 | $3.2B | $348.0M | ||
| Q3 25 | $3.0B | $348.0M | ||
| Q2 25 | $3.0B | $348.0M | ||
| Q1 25 | $3.0B | $348.0M | ||
| Q4 24 | $3.0B | $348.0M | ||
| Q3 24 | $3.0B | $347.0M | ||
| Q2 24 | $3.0B | $347.0M | ||
| Q1 24 | $3.0B | $347.0M |
股东权益CFLPX
| Q4 25 | $4.8B | $1.7B | ||
| Q3 25 | $4.8B | $1.7B | ||
| Q2 25 | $5.0B | $1.7B | ||
| Q1 25 | $4.8B | $1.7B | ||
| Q4 24 | $5.0B | $1.7B | ||
| Q3 24 | $5.2B | $1.7B | ||
| Q2 24 | $5.5B | $1.7B | ||
| Q1 24 | $5.4B | $1.6B |
总资产CFLPX
| Q4 25 | $14.1B | $2.6B | ||
| Q3 25 | $14.2B | $2.6B | ||
| Q2 25 | $13.8B | $2.7B | ||
| Q1 25 | $13.3B | $2.6B | ||
| Q4 24 | $13.5B | $2.6B | ||
| Q3 24 | $13.8B | $2.6B | ||
| Q2 24 | $13.8B | $2.5B | ||
| Q1 24 | $13.9B | $2.5B |
负债/权益比CFLPX
| Q4 25 | 0.66× | 0.20× | ||
| Q3 25 | 0.61× | 0.20× | ||
| Q2 25 | 0.60× | 0.20× | ||
| Q1 25 | 0.62× | 0.21× | ||
| Q4 24 | 0.60× | 0.21× | ||
| Q3 24 | 0.57× | 0.21× | ||
| Q2 24 | 0.54× | 0.21× | ||
| Q1 24 | 0.55× | 0.21× |
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 | $67.0M |
| 自由现金流经营现金流 - 资本支出 | $313.0M | $-8.0M |
| 自由现金流率自由现金流/营收 | 16.7% | -1.4% |
| 资本支出强度资本支出/营收 | 12.1% | 13.3% |
| 现金转化率经营现金流/净利润 | 1.09× | — |
| 过去12个月自由现金流最近4个季度 | $1.8B | $91.0M |
8季度趋势，按日历期对齐
经营现金流CFLPX
| Q4 25 | $539.0M | $67.0M | ||
| Q3 25 | $1.1B | $89.0M | ||
| Q2 25 | $563.0M | $162.0M | ||
| Q1 25 | $586.0M | $64.0M | ||
| Q4 24 | $420.0M | $105.0M | ||
| Q3 24 | $931.0M | $183.0M | ||
| Q2 24 | $475.0M | $212.0M | ||
| Q1 24 | $445.0M | $105.0M |
自由现金流CFLPX
| Q4 25 | $313.0M | $-8.0M | ||
| Q3 25 | $717.0M | $5.0M | ||
| Q2 25 | $318.0M | $94.0M | ||
| Q1 25 | $454.0M | $0 | ||
| Q4 24 | $223.0M | $43.0M | ||
| Q3 24 | $792.0M | $139.0M | ||
| Q2 24 | $391.0M | $176.0M | ||
| Q1 24 | $347.0M | $64.0M |
自由现金流率CFLPX
| Q4 25 | 16.7% | -1.4% | ||
| Q3 25 | 43.2% | 0.8% | ||
| Q2 25 | 16.8% | 12.5% | ||
| Q1 25 | 27.3% | 0.0% | ||
| Q4 24 | 14.6% | 6.3% | ||
| Q3 24 | 57.8% | 19.3% | ||
| Q2 24 | 24.9% | 21.6% | ||
| Q1 24 | 23.6% | 8.8% |
资本支出强度CFLPX
| Q4 25 | 12.1% | 13.3% | ||
| Q3 25 | 20.9% | 12.7% | ||
| Q2 25 | 13.0% | 9.0% | ||
| Q1 25 | 7.9% | 8.8% | ||
| Q4 24 | 12.9% | 9.1% | ||
| Q3 24 | 10.1% | 6.1% | ||
| Q2 24 | 5.3% | 4.4% | ||
| Q1 24 | 6.7% | 5.7% |
现金转化率CFLPX
| Q4 25 | 1.09× | — | ||
| Q3 25 | 2.31× | 9.89× | ||
| Q2 25 | 1.14× | 3.00× | ||
| Q1 25 | 1.67× | 0.70× | ||
| Q4 24 | 1.07× | 1.69× | ||
| Q3 24 | 2.73× | 2.03× | ||
| Q2 24 | 0.94× | 1.32× | ||
| Q1 24 | 1.87× | 0.97× |
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% |
LPX
| OS Bvalueadd | $472.0M | 83% |
| Other | $84.0M | 15% |
| Otherproducts | $10.0M | 2% |
