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CF Industries（CF）与Ramaco Resources, Inc.（METC）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Ramaco Resources, Inc.的15.5倍（$1.9B vs $121.0M）。CF Industries净利率更高（26.4% vs -11.0%，领先37.4%）。CF Industries同比增速更快（22.8% vs -27.7%）。CF Industries自由现金流更多（$313.0M vs $-17.5M）。过去两年CF Industries的营收复合增速更高（12.8% vs -22.7%）
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。
Ramaco Resources, Inc.是一家总部位于美国的矿业企业，主营高等级冶金煤生产，在阿巴拉契亚地区运营多处采矿资产，产品供应全球钢铁制造商及工业客户，核心业务为可持续、低成本的冶金煤开采与分销。
CF vs METC — 直观对比
营收规模更大
CF
是对方的15.5倍
$121.0M
营收增速更快
CF
高出50.6%
-27.7%
净利率更高
CF
高出37.4%
-11.0%
自由现金流更多
CF
多$330.5M
$-17.5M
两年增速更快
CF
近两年复合增速
-22.7%
损益表 — Q4 2025 vs Q3 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $121.0M |
| 净利润 | $495.0M | $-13.3M |
| 毛利率 | 40.9% | 15.8% |
| 营业利润率 | 33.0% | -12.0% |
| 净利率 | 26.4% | -11.0% |
| 营收同比 | 22.8% | -27.7% |
| 净利润同比 | 26.3% | -5468.2% |
| 每股收益（稀释后） | $2.56 | — |
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CFMETC
| Q4 25 | $1.9B | — | ||
| Q3 25 | $1.7B | $121.0M | ||
| Q2 25 | $1.9B | $153.0M | ||
| Q1 25 | $1.7B | $134.7M | ||
| Q4 24 | $1.5B | $170.9M | ||
| Q3 24 | $1.4B | $167.4M | ||
| Q2 24 | $1.6B | $155.3M | ||
| Q1 24 | $1.5B | $172.7M |
净利润CFMETC
| Q4 25 | $495.0M | — | ||
| Q3 25 | $460.0M | $-13.3M | ||
| Q2 25 | $492.0M | $-14.0M | ||
| Q1 25 | $351.0M | $-9.5M | ||
| Q4 24 | $392.0M | $3.9M | ||
| Q3 24 | $341.0M | $-239.0K | ||
| Q2 24 | $506.0M | $5.5M | ||
| Q1 24 | $238.0M | $2.0M |
毛利率CFMETC
| Q4 25 | 40.9% | — | ||
| Q3 25 | 38.1% | 15.8% | ||
| Q2 25 | 39.9% | 12.3% | ||
| Q1 25 | 34.4% | 15.2% | ||
| Q4 24 | 34.4% | 20.4% | ||
| Q3 24 | 32.4% | 19.5% | ||
| Q2 24 | 43.2% | 21.0% | ||
| Q1 24 | 27.8% | 19.1% |
营业利润率CFMETC
| Q4 25 | 33.0% | — | ||
| Q3 25 | 35.0% | -12.0% | ||
| Q2 25 | 34.3% | -9.1% | ||
| Q1 25 | 27.4% | -8.9% | ||
| Q4 24 | 28.9% | 3.7% | ||
| Q3 24 | 26.6% | 1.0% | ||
| Q2 24 | 40.6% | 3.5% | ||
| Q1 24 | 20.6% | 1.9% |
净利率CFMETC
| Q4 25 | 26.4% | — | ||
| Q3 25 | 27.7% | -11.0% | ||
| Q2 25 | 26.0% | -9.1% | ||
| Q1 25 | 21.1% | -7.0% | ||
| Q4 24 | 25.7% | 2.3% | ||
| Q3 24 | 24.9% | -0.1% | ||
| Q2 24 | 32.2% | 3.6% | ||
| Q1 24 | 16.2% | 1.2% |
每股收益（稀释后）CFMETC
| Q4 25 | $2.56 | — | ||
| Q3 25 | $2.19 | — | ||
| Q2 25 | $2.37 | — | ||
| Q1 25 | $1.85 | — | ||
| Q4 24 | $1.86 | $0.06 | ||
| Q3 24 | $1.55 | $-0.03 | ||
| Q2 24 | $2.30 | $0.08 | ||
| Q1 24 | $1.03 | $0.00 |
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 | — | $193.8M |
| 总债务越低越好 | $3.2B | $116.3M |
| 股东权益账面价值 | $4.8B | $526.9M |
| 总资产 | $14.1B | $849.7M |
| 负债/权益比越低杠杆越低 | 0.66× | 0.22× |
8季度趋势，按日历期对齐
现金及短期投资CFMETC
| Q4 25 | — | — | ||
| Q3 25 | — | $193.8M | ||
| Q2 25 | — | $28.1M | ||
| Q1 25 | — | $43.5M | ||
| Q4 24 | — | $33.0M | ||
| Q3 24 | — | $22.9M | ||
| Q2 24 | — | $27.6M | ||
| Q1 24 | — | $30.5M |
总债务CFMETC
| Q4 25 | $3.2B | — | ||
| Q3 25 | $3.0B | $116.3M | ||
| Q2 25 | $3.0B | — | ||
| Q1 25 | $3.0B | — | ||
| Q4 24 | $3.0B | $88.2M | ||
| Q3 24 | $3.0B | — | ||
| Q2 24 | $3.0B | — | ||
| Q1 24 | $3.0B | — |
股东权益CFMETC
| Q4 25 | $4.8B | — | ||
| Q3 25 | $4.8B | $526.9M | ||
| Q2 25 | $5.0B | $347.4M | ||
| Q1 25 | $4.8B | $355.2M | ||
| Q4 24 | $5.0B | $362.8M | ||
| Q3 24 | $5.2B | $361.8M | ||
| Q2 24 | $5.5B | $366.1M | ||
| Q1 24 | $5.4B | $372.3M |
总资产CFMETC
| Q4 25 | $14.1B | — | ||
| Q3 25 | $14.2B | $849.7M | ||
| Q2 25 | $13.8B | $674.6M | ||
| Q1 25 | $13.3B | $685.7M | ||
| Q4 24 | $13.5B | $674.7M | ||
| Q3 24 | $13.8B | $645.4M | ||
| Q2 24 | $13.8B | $659.2M | ||
| Q1 24 | $13.9B | $674.0M |
负债/权益比CFMETC
| Q4 25 | 0.66× | — | ||
| Q3 25 | 0.61× | 0.22× | ||
| Q2 25 | 0.60× | — | ||
| Q1 25 | 0.62× | — | ||
| Q4 24 | 0.60× | 0.24× | ||
| 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 | $-1.4M |
| 自由现金流经营现金流 - 资本支出 | $313.0M | $-17.5M |
| 自由现金流率自由现金流/营收 | 16.7% | -14.5% |
| 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 | $-24.7M |
8季度趋势，按日历期对齐
经营现金流CFMETC
| Q4 25 | $539.0M | — | ||
| Q3 25 | $1.1B | $-1.4M | ||
| Q2 25 | $563.0M | $-4.3M | ||
| Q1 25 | $586.0M | $26.0M | ||
| Q4 24 | $420.0M | $15.7M | ||
| Q3 24 | $931.0M | $37.4M | ||
| Q2 24 | $475.0M | $34.4M | ||
| Q1 24 | $445.0M | $25.2M |
自由现金流CFMETC
| Q4 25 | $313.0M | — | ||
| Q3 25 | $717.0M | $-17.5M | ||
| Q2 25 | $318.0M | $-19.8M | ||
| Q1 25 | $454.0M | $7.6M | ||
| Q4 24 | $223.0M | $5.1M | ||
| Q3 24 | $792.0M | $25.6M | ||
| Q2 24 | $391.0M | $20.3M | ||
| Q1 24 | $347.0M | $6.5M |
自由现金流率CFMETC
| Q4 25 | 16.7% | — | ||
| Q3 25 | 43.2% | -14.5% | ||
| Q2 25 | 16.8% | -13.0% | ||
| Q1 25 | 27.3% | 5.6% | ||
| Q4 24 | 14.6% | 3.0% | ||
| Q3 24 | 57.8% | 15.3% | ||
| Q2 24 | 24.9% | 13.1% | ||
| Q1 24 | 23.6% | 3.7% |
资本支出强度CFMETC
| Q4 25 | 12.1% | — | ||
| Q3 25 | 20.9% | 13.3% | ||
| Q2 25 | 13.0% | 10.2% | ||
| Q1 25 | 7.9% | 13.7% | ||
| Q4 24 | 12.9% | 6.2% | ||
| Q3 24 | 10.1% | 7.0% | ||
| Q2 24 | 5.3% | 9.1% | ||
| Q1 24 | 6.7% | 10.8% |
现金转化率CFMETC
| Q4 25 | 1.09× | — | ||
| Q3 25 | 2.31× | — | ||
| Q2 25 | 1.14× | — | ||
| Q1 25 | 1.67× | — | ||
| Q4 24 | 1.07× | 4.06× | ||
| Q3 24 | 2.73× | — | ||
| Q2 24 | 0.94× | 6.21× | ||
| Q1 24 | 1.87× | 12.40× |
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% |
METC
| Export Coal Revenues | $73.0M | 60% |
| Domestic Coal Revenues | $48.0M | 40% |
