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CF Industries（CF）与美泰（MAT）财务数据对比。点击上方公司名可切换其他公司
CF Industries的季度营收约是美泰的2.2倍（$1.9B vs $862.2M），CF Industries净利率更高（26.4% vs 7.1%，领先19.4%），CF Industries同比增速更快（22.8% vs 4.3%），CF Industries自由现金流更多（$313.0M vs $-88.1M），过去两年CF Industries的营收复合增速更高（12.8% vs -10.6%）
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。
美泰是美国知名玩具及娱乐企业，旗下影视制作部门美泰影业运营时间为2018年9月6日至2025年6月2日。其前身为2013年10月16日成立的美泰Playground Productions，更早可追溯至美泰娱乐、美泰工作室等集团原有娱乐业务品牌。
CF vs MAT — 直观对比
营收规模更大
CF
是对方的2.2倍
$862.2M
营收增速更快
CF
高出18.5%
4.3%
净利率更高
CF
高出19.4%
7.1%
自由现金流更多
CF
多$401.1M
$-88.1M
两年增速更快
CF
近两年复合增速
-10.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $862.2M |
| 净利润 | $495.0M | $61.0M |
| 毛利率 | 40.9% | 44.9% |
| 营业利润率 | 33.0% | — |
| 净利率 | 26.4% | 7.1% |
| 营收同比 | 22.8% | 4.3% |
| 净利润同比 | 26.3% | 251.4% |
| 每股收益（稀释后） | $2.56 | $0.20 |
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CFMAT
| Q1 26 | — | $862.2M | ||
| Q4 25 | $1.9B | $1.8B | ||
| Q3 25 | $1.7B | $1.7B | ||
| Q2 25 | $1.9B | $1.0B | ||
| Q1 25 | $1.7B | $826.6M | ||
| Q4 24 | $1.5B | $1.6B | ||
| Q3 24 | $1.4B | $1.8B | ||
| Q2 24 | $1.6B | $1.1B |
净利润CFMAT
| Q1 26 | — | $61.0M | ||
| Q4 25 | $495.0M | $106.2M | ||
| Q3 25 | $460.0M | $278.4M | ||
| Q2 25 | $492.0M | $53.4M | ||
| Q1 25 | $351.0M | $-40.3M | ||
| Q4 24 | $392.0M | $140.9M | ||
| Q3 24 | $341.0M | $372.4M | ||
| Q2 24 | $506.0M | $56.9M |
毛利率CFMAT
| Q1 26 | — | 44.9% | ||
| Q4 25 | 40.9% | 45.9% | ||
| Q3 25 | 38.1% | 50.0% | ||
| Q2 25 | 39.9% | 50.9% | ||
| Q1 25 | 34.4% | 49.4% | ||
| Q4 24 | 34.4% | 50.7% | ||
| Q3 24 | 32.4% | 53.1% | ||
| Q2 24 | 43.2% | 49.2% |
营业利润率CFMAT
| Q1 26 | — | — | ||
| Q4 25 | 33.0% | 8.0% | ||
| Q3 25 | 35.0% | 21.9% | ||
| Q2 25 | 34.3% | 7.7% | ||
| Q1 25 | 27.4% | -6.4% | ||
| Q4 24 | 28.9% | 9.6% | ||
| Q3 24 | 26.6% | 26.5% | ||
| Q2 24 | 40.6% | 7.7% |
净利率CFMAT
| Q1 26 | — | 7.1% | ||
| Q4 25 | 26.4% | 6.0% | ||
| Q3 25 | 27.7% | 16.0% | ||
| Q2 25 | 26.0% | 5.2% | ||
| Q1 25 | 21.1% | -4.9% | ||
| Q4 24 | 25.7% | 8.6% | ||
| Q3 24 | 24.9% | 20.2% | ||
| Q2 24 | 32.2% | 5.3% |
每股收益（稀释后）CFMAT
| Q1 26 | — | $0.20 | ||
| Q4 25 | $2.56 | $0.32 | ||
| Q3 25 | $2.19 | $0.88 | ||
| Q2 25 | $2.37 | $0.16 | ||
| Q1 25 | $1.85 | $-0.12 | ||
| Q4 24 | $1.86 | $0.40 | ||
| Q3 24 | $1.55 | $1.09 | ||
| Q2 24 | $2.30 | $0.17 |
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 | — | $866.0M |
| 总债务越低越好 | $3.2B | $2.3B |
| 股东权益账面价值 | $4.8B | $2.1B |
| 总资产 | $14.1B | $6.3B |
| 负债/权益比越低杠杆越低 | 0.66× | 1.11× |
8季度趋势，按日历期对齐
现金及短期投资CFMAT
| Q1 26 | — | $866.0M | ||
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | $691.9M | ||
| Q2 25 | — | $870.5M | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | — | $723.5M | ||
| Q2 24 | — | $722.4M |
总债务CFMAT
| Q1 26 | — | $2.3B | ||
| Q4 25 | $3.2B | $2.3B | ||
| Q3 25 | $3.0B | $2.3B | ||
| Q2 25 | $3.0B | $2.3B | ||
| Q1 25 | $3.0B | $2.3B | ||
| Q4 24 | $3.0B | $2.3B | ||
| Q3 24 | $3.0B | $2.3B | ||
| Q2 24 | $3.0B | $2.3B |
股东权益CFMAT
| Q1 26 | — | $2.1B | ||
| Q4 25 | $4.8B | $2.2B | ||
| Q3 25 | $4.8B | $2.3B | ||
| Q2 25 | $5.0B | $2.2B | ||
| Q1 25 | $4.8B | $2.1B | ||
| Q4 24 | $5.0B | $2.3B | ||
| Q3 24 | $5.2B | $2.3B | ||
| Q2 24 | $5.5B | $2.0B |
总资产CFMAT
| Q1 26 | — | $6.3B | ||
| Q4 25 | $14.1B | $6.6B | ||
| Q3 25 | $14.2B | $6.6B | ||
| Q2 25 | $13.8B | $6.2B | ||
| Q1 25 | $13.3B | $6.2B | ||
| Q4 24 | $13.5B | $6.5B | ||
| Q3 24 | $13.8B | $6.5B | ||
| Q2 24 | $13.8B | $5.9B |
负债/权益比CFMAT
| Q1 26 | — | 1.11× | ||
| Q4 25 | 0.66× | 1.04× | ||
| Q3 25 | 0.61× | 1.03× | ||
| Q2 25 | 0.60× | 1.08× | ||
| Q1 25 | 0.62× | 1.10× | ||
| Q4 24 | 0.60× | 1.03× | ||
| Q3 24 | 0.57× | 1.01× | ||
| Q2 24 | 0.54× | 1.18× |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $313.0M | $-88.1M |
| 自由现金流率自由现金流/营收 | 16.7% | -10.2% |
| 资本支出强度资本支出/营收 | 12.1% | 7.6% |
| 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 | — |
8季度趋势，按日历期对齐
经营现金流CFMAT
| Q1 26 | — | — | ||
| Q4 25 | $539.0M | $796.6M | ||
| Q3 25 | $1.1B | $72.0M | ||
| Q2 25 | $563.0M | $-300.1M | ||
| Q1 25 | $586.0M | $24.8M | ||
| Q4 24 | $420.0M | $862.1M | ||
| Q3 24 | $931.0M | $155.8M | ||
| Q2 24 | $475.0M | $-252.9M |
自由现金流CFMAT
| Q1 26 | — | $-88.1M | ||
| Q4 25 | $313.0M | — | ||
| Q3 25 | $717.0M | — | ||
| Q2 25 | $318.0M | — | ||
| Q1 25 | $454.0M | — | ||
| Q4 24 | $223.0M | — | ||
| Q3 24 | $792.0M | — | ||
| Q2 24 | $391.0M | — |
自由现金流率CFMAT
| Q1 26 | — | -10.2% | ||
| Q4 25 | 16.7% | — | ||
| Q3 25 | 43.2% | — | ||
| Q2 25 | 16.8% | — | ||
| Q1 25 | 27.3% | — | ||
| Q4 24 | 14.6% | — | ||
| Q3 24 | 57.8% | — | ||
| Q2 24 | 24.9% | — |
资本支出强度CFMAT
| Q1 26 | — | 7.6% | ||
| Q4 25 | 12.1% | — | ||
| Q3 25 | 20.9% | — | ||
| Q2 25 | 13.0% | — | ||
| Q1 25 | 7.9% | — | ||
| Q4 24 | 12.9% | — | ||
| Q3 24 | 10.1% | — | ||
| Q2 24 | 5.3% | — |
现金转化率CFMAT
| Q1 26 | — | — | ||
| Q4 25 | 1.09× | 7.50× | ||
| Q3 25 | 2.31× | 0.26× | ||
| Q2 25 | 1.14× | -5.62× | ||
| Q1 25 | 1.67× | — | ||
| Q4 24 | 1.07× | 6.12× | ||
| Q3 24 | 2.73× | 0.42× | ||
| Q2 24 | 0.94× | -4.45× |
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% |
MAT
暂无分部数据
