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CF Industries（CF）与MKS INC（MKSI）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MKS INC的1.8倍（$1.9B vs $1.0B），CF Industries净利率更高（26.4% vs 10.3%，领先16.1%），CF Industries同比增速更快（22.8% vs 10.6%），CF Industries自由现金流更多（$313.0M vs $92.0M），过去两年CF Industries的营收复合增速更高（12.8% vs 9.1%）
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。
MKS Inc原是跨国独立软件供应商，业务覆盖应用生命周期管理（ALM）及系统管理两大领域，2011年5月31日被参数技术公司（PTC, Inc.）收购，目前为PTC旗下子公司。
CF vs MKSI — 直观对比
营收规模更大
CF
是对方的1.8倍
$1.0B
营收增速更快
CF
高出12.2%
10.6%
净利率更高
CF
高出16.1%
10.3%
自由现金流更多
CF
多$221.0M
$92.0M
两年增速更快
CF
近两年复合增速
9.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $1.0B |
| 净利润 | $495.0M | $107.0M |
| 毛利率 | 40.9% | 46.3% |
| 营业利润率 | 33.0% | 13.9% |
| 净利率 | 26.4% | 10.3% |
| 营收同比 | 22.8% | 10.6% |
| 净利润同比 | 26.3% | 18.9% |
| 每股收益（稀释后） | $2.56 | $1.58 |
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CFMKSI
| Q4 25 | $1.9B | $1.0B | ||
| Q3 25 | $1.7B | $988.0M | ||
| Q2 25 | $1.9B | $973.0M | ||
| Q1 25 | $1.7B | $936.0M | ||
| Q4 24 | $1.5B | $935.0M | ||
| Q3 24 | $1.4B | $896.0M | ||
| Q2 24 | $1.6B | $887.0M | ||
| Q1 24 | $1.5B | $868.0M |
净利润CFMKSI
| Q4 25 | $495.0M | $107.0M | ||
| Q3 25 | $460.0M | $74.0M | ||
| Q2 25 | $492.0M | $62.0M | ||
| Q1 25 | $351.0M | $52.0M | ||
| Q4 24 | $392.0M | $90.0M | ||
| Q3 24 | $341.0M | $62.0M | ||
| Q2 24 | $506.0M | $23.0M | ||
| Q1 24 | $238.0M | $15.0M |
毛利率CFMKSI
| Q4 25 | 40.9% | 46.3% | ||
| Q3 25 | 38.1% | 46.7% | ||
| Q2 25 | 39.9% | 46.6% | ||
| Q1 25 | 34.4% | 47.4% | ||
| Q4 24 | 34.4% | 47.3% | ||
| Q3 24 | 32.4% | 48.2% | ||
| Q2 24 | 43.2% | 47.2% | ||
| Q1 24 | 27.8% | 47.8% |
营业利润率CFMKSI
| Q4 25 | 33.0% | 13.9% | ||
| Q3 25 | 35.0% | 14.0% | ||
| Q2 25 | 34.3% | 13.9% | ||
| Q1 25 | 27.4% | 11.9% | ||
| Q4 24 | 28.9% | 14.7% | ||
| Q3 24 | 26.6% | 14.3% | ||
| Q2 24 | 40.6% | 14.3% | ||
| Q1 24 | 20.6% | 12.2% |
净利率CFMKSI
| Q4 25 | 26.4% | 10.3% | ||
| Q3 25 | 27.7% | 7.5% | ||
| Q2 25 | 26.0% | 6.4% | ||
| Q1 25 | 21.1% | 5.6% | ||
| Q4 24 | 25.7% | 9.6% | ||
| Q3 24 | 24.9% | 6.9% | ||
| Q2 24 | 32.2% | 2.6% | ||
| Q1 24 | 16.2% | 1.7% |
每股收益（稀释后）CFMKSI
| Q4 25 | $2.56 | $1.58 | ||
| Q3 25 | $2.19 | $1.10 | ||
| Q2 25 | $2.37 | $0.92 | ||
| Q1 25 | $1.85 | $0.77 | ||
| Q4 24 | $1.86 | $1.34 | ||
| Q3 24 | $1.55 | $0.92 | ||
| Q2 24 | $2.30 | $0.33 | ||
| Q1 24 | $1.03 | $0.22 |
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 | — | $418.0M |
| 总债务越低越好 | $3.2B | $4.2B |
| 股东权益账面价值 | $4.8B | $2.7B |
| 总资产 | $14.1B | $8.8B |
| 负债/权益比越低杠杆越低 | 0.66× | 1.53× |
8季度趋势，按日历期对齐
现金及短期投资CFMKSI
| Q4 25 | — | $418.0M | ||
| Q3 25 | — | $413.0M | ||
| Q2 25 | — | $498.0M | ||
| Q1 25 | — | $407.0M | ||
| Q4 24 | — | $420.0M | ||
| Q3 24 | — | $439.0M | ||
| Q2 24 | — | $506.0M | ||
| Q1 24 | — | $1.0M |
总债务CFMKSI
| Q4 25 | $3.2B | $4.2B | ||
| Q3 25 | $3.0B | $4.3B | ||
| Q2 25 | $3.0B | $4.4B | ||
| Q1 25 | $3.0B | $4.4B | ||
| Q4 24 | $3.0B | $4.5B | ||
| Q3 24 | $3.0B | $4.8B | ||
| Q2 24 | $3.0B | $4.8B | ||
| Q1 24 | $3.0B | $4.7B |
股东权益CFMKSI
| Q4 25 | $4.8B | $2.7B | ||
| Q3 25 | $4.8B | $2.6B | ||
| Q2 25 | $5.0B | $2.6B | ||
| Q1 25 | $4.8B | $2.4B | ||
| Q4 24 | $5.0B | $2.3B | ||
| Q3 24 | $5.2B | $2.4B | ||
| Q2 24 | $5.5B | $2.2B | ||
| Q1 24 | $5.4B | $2.4B |
总资产CFMKSI
| Q4 25 | $14.1B | $8.8B | ||
| Q3 25 | $14.2B | $8.8B | ||
| Q2 25 | $13.8B | $8.8B | ||
| Q1 25 | $13.3B | $8.6B | ||
| Q4 24 | $13.5B | $8.6B | ||
| Q3 24 | $13.8B | $9.0B | ||
| Q2 24 | $13.8B | $8.9B | ||
| Q1 24 | $13.9B | $8.9B |
负债/权益比CFMKSI
| Q4 25 | 0.66× | 1.53× | ||
| Q3 25 | 0.61× | 1.64× | ||
| Q2 25 | 0.60× | 1.71× | ||
| Q1 25 | 0.62× | 1.87× | ||
| Q4 24 | 0.60× | 1.93× | ||
| Q3 24 | 0.57× | 1.98× | ||
| Q2 24 | 0.54× | 2.16× | ||
| Q1 24 | 0.55× | 1.94× |
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 | $142.0M |
| 自由现金流经营现金流 - 资本支出 | $313.0M | $92.0M |
| 自由现金流率自由现金流/营收 | 16.7% | 8.9% |
| 资本支出强度资本支出/营收 | 12.1% | 4.8% |
| 现金转化率经营现金流/净利润 | 1.09× | 1.33× |
| 过去12个月自由现金流最近4个季度 | $1.8B | $497.0M |
8季度趋势，按日历期对齐
经营现金流CFMKSI
| Q4 25 | $539.0M | $142.0M | ||
| Q3 25 | $1.1B | $197.0M | ||
| Q2 25 | $563.0M | $165.0M | ||
| Q1 25 | $586.0M | $141.0M | ||
| Q4 24 | $420.0M | $176.0M | ||
| Q3 24 | $931.0M | $163.0M | ||
| Q2 24 | $475.0M | $122.0M | ||
| Q1 24 | $445.0M | $67.0M |
自由现金流CFMKSI
| Q4 25 | $313.0M | $92.0M | ||
| Q3 25 | $717.0M | $146.0M | ||
| Q2 25 | $318.0M | $136.0M | ||
| Q1 25 | $454.0M | $123.0M | ||
| Q4 24 | $223.0M | $125.0M | ||
| Q3 24 | $792.0M | $141.0M | ||
| Q2 24 | $391.0M | $95.0M | ||
| Q1 24 | $347.0M | $49.0M |
自由现金流率CFMKSI
| Q4 25 | 16.7% | 8.9% | ||
| Q3 25 | 43.2% | 14.8% | ||
| Q2 25 | 16.8% | 14.0% | ||
| Q1 25 | 27.3% | 13.1% | ||
| Q4 24 | 14.6% | 13.4% | ||
| Q3 24 | 57.8% | 15.7% | ||
| Q2 24 | 24.9% | 10.7% | ||
| Q1 24 | 23.6% | 5.6% |
资本支出强度CFMKSI
| Q4 25 | 12.1% | 4.8% | ||
| Q3 25 | 20.9% | 5.2% | ||
| Q2 25 | 13.0% | 3.0% | ||
| Q1 25 | 7.9% | 1.9% | ||
| Q4 24 | 12.9% | 5.5% | ||
| Q3 24 | 10.1% | 2.5% | ||
| Q2 24 | 5.3% | 3.0% | ||
| Q1 24 | 6.7% | 2.1% |
现金转化率CFMKSI
| Q4 25 | 1.09× | 1.33× | ||
| Q3 25 | 2.31× | 2.66× | ||
| Q2 25 | 1.14× | 2.66× | ||
| Q1 25 | 1.67× | 2.71× | ||
| Q4 24 | 1.07× | 1.96× | ||
| Q3 24 | 2.73× | 2.63× | ||
| Q2 24 | 0.94× | 5.30× | ||
| Q1 24 | 1.87× | 4.47× |
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% |
MKSI
| Electronics And Packaging | $303.0M | 29% |
| Specialty Industrial | $295.0M | 29% |
| Photonics Solutions Division | $274.0M | 26% |
| Services | $125.0M | 12% |
| Other | $37.0M | 4% |
