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CF Industries（CF）与MUELLER INDUSTRIES INC（MLI）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MUELLER INDUSTRIES INC的1.9倍（$1.9B vs $962.4M）。CF Industries净利率更高（26.4% vs 16.0%，领先10.5%）。CF Industries同比增速更快（22.8% vs 4.2%）。CF Industries自由现金流更多（$313.0M vs $121.4M）。过去两年CF Industries的营收复合增速更高（12.8% vs 6.4%）
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。
Mueller Industries是美国知名工业制造企业，1917年正式成立，总部坐落于美国田纳西州孟菲斯市，主营管道产品、工业金属及暖通制冷设备，2022年入选《财富》1000强榜单，是年营收达数十亿美元的公开上市企业。
CF vs MLI — 直观对比
营收规模更大
CF
是对方的1.9倍
$962.4M
营收增速更快
CF
高出18.6%
4.2%
净利率更高
CF
高出10.5%
16.0%
自由现金流更多
CF
多$191.6M
$121.4M
两年增速更快
CF
近两年复合增速
6.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $962.4M |
| 净利润 | $495.0M | $153.7M |
| 毛利率 | 40.9% | — |
| 营业利润率 | 33.0% | 17.9% |
| 净利率 | 26.4% | 16.0% |
| 营收同比 | 22.8% | 4.2% |
| 净利润同比 | 26.3% | 11.7% |
| 每股收益（稀释后） | $2.56 | $1.37 |
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CFMLI
| Q4 25 | $1.9B | $962.4M | ||
| Q3 25 | $1.7B | $1.1B | ||
| Q2 25 | $1.9B | $1.1B | ||
| Q1 25 | $1.7B | $1.0B | ||
| Q4 24 | $1.5B | $923.5M | ||
| Q3 24 | $1.4B | $997.8M | ||
| Q2 24 | $1.6B | $997.7M | ||
| Q1 24 | $1.5B | $849.7M |
净利润CFMLI
| Q4 25 | $495.0M | $153.7M | ||
| Q3 25 | $460.0M | $208.1M | ||
| Q2 25 | $492.0M | $245.9M | ||
| Q1 25 | $351.0M | $157.4M | ||
| Q4 24 | $392.0M | $137.7M | ||
| Q3 24 | $341.0M | $168.7M | ||
| Q2 24 | $506.0M | $160.2M | ||
| Q1 24 | $238.0M | $138.4M |
毛利率CFMLI
| Q4 25 | 40.9% | — | ||
| Q3 25 | 38.1% | — | ||
| Q2 25 | 39.9% | — | ||
| Q1 25 | 34.4% | — | ||
| Q4 24 | 34.4% | — | ||
| Q3 24 | 32.4% | 27.6% | ||
| Q2 24 | 43.2% | 27.3% | ||
| Q1 24 | 27.8% | 28.4% |
营业利润率CFMLI
| Q4 25 | 33.0% | 17.9% | ||
| Q3 25 | 35.0% | 25.6% | ||
| Q2 25 | 34.3% | 26.7% | ||
| Q1 25 | 27.4% | 20.6% | ||
| Q4 24 | 28.9% | 18.4% | ||
| Q3 24 | 26.6% | 20.7% | ||
| Q2 24 | 40.6% | 21.0% | ||
| Q1 24 | 20.6% | 21.6% |
净利率CFMLI
| Q4 25 | 26.4% | 16.0% | ||
| Q3 25 | 27.7% | 19.3% | ||
| Q2 25 | 26.0% | 21.6% | ||
| Q1 25 | 21.1% | 15.7% | ||
| Q4 24 | 25.7% | 14.9% | ||
| Q3 24 | 24.9% | 16.9% | ||
| Q2 24 | 32.2% | 16.1% | ||
| Q1 24 | 16.2% | 16.3% |
每股收益（稀释后）CFMLI
| Q4 25 | $2.56 | $1.37 | ||
| Q3 25 | $2.19 | $1.88 | ||
| Q2 25 | $2.37 | $2.22 | ||
| Q1 25 | $1.85 | $1.39 | ||
| Q4 24 | $1.86 | $1.21 | ||
| Q3 24 | $1.55 | $1.48 | ||
| Q2 24 | $2.30 | $1.41 | ||
| Q1 24 | $1.03 | $1.21 |
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 | — | $1.4B |
| 总债务越低越好 | $3.2B | — |
| 股东权益账面价值 | $4.8B | $3.2B |
| 总资产 | $14.1B | $3.7B |
| 负债/权益比越低杠杆越低 | 0.66× | — |
8季度趋势，按日历期对齐
现金及短期投资CFMLI
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | $873.6M | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $969.6M | ||
| Q2 24 | — | $825.7M | ||
| Q1 24 | — | $1.4B |
总债务CFMLI
| 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 | — | ||
| Q1 24 | $3.0B | — |
股东权益CFMLI
| Q4 25 | $4.8B | $3.2B | ||
| Q3 25 | $4.8B | $3.1B | ||
| Q2 25 | $5.0B | $2.9B | ||
| Q1 25 | $4.8B | $2.7B | ||
| Q4 24 | $5.0B | $2.8B | ||
| Q3 24 | $5.2B | $2.7B | ||
| Q2 24 | $5.5B | $2.5B | ||
| Q1 24 | $5.4B | $2.4B |
总资产CFMLI
| Q4 25 | $14.1B | $3.7B | ||
| Q3 25 | $14.2B | $3.7B | ||
| Q2 25 | $13.8B | $3.5B | ||
| Q1 25 | $13.3B | $3.2B | ||
| Q4 24 | $13.5B | $3.3B | ||
| Q3 24 | $13.8B | $3.2B | ||
| Q2 24 | $13.8B | $3.1B | ||
| Q1 24 | $13.9B | $2.9B |
负债/权益比CFMLI
| 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× | — | ||
| 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 | $141.2M |
| 自由现金流经营现金流 - 资本支出 | $313.0M | $121.4M |
| 自由现金流率自由现金流/营收 | 16.7% | 12.6% |
| 资本支出强度资本支出/营收 | 12.1% | 2.1% |
| 现金转化率经营现金流/净利润 | 1.09× | 0.92× |
| 过去12个月自由现金流最近4个季度 | $1.8B | $686.6M |
8季度趋势，按日历期对齐
经营现金流CFMLI
| Q4 25 | $539.0M | $141.2M | ||
| Q3 25 | $1.1B | $310.1M | ||
| Q2 25 | $563.0M | $190.6M | ||
| Q1 25 | $586.0M | $113.6M | ||
| Q4 24 | $420.0M | $140.1M | ||
| Q3 24 | $931.0M | $231.4M | ||
| Q2 24 | $475.0M | $100.8M | ||
| Q1 24 | $445.0M | $173.6M |
自由现金流CFMLI
| Q4 25 | $313.0M | $121.4M | ||
| Q3 25 | $717.0M | $291.8M | ||
| Q2 25 | $318.0M | $176.5M | ||
| Q1 25 | $454.0M | $97.0M | ||
| Q4 24 | $223.0M | $111.2M | ||
| Q3 24 | $792.0M | $205.7M | ||
| Q2 24 | $391.0M | $91.6M | ||
| Q1 24 | $347.0M | $157.2M |
自由现金流率CFMLI
| Q4 25 | 16.7% | 12.6% | ||
| Q3 25 | 43.2% | 27.1% | ||
| Q2 25 | 16.8% | 15.5% | ||
| Q1 25 | 27.3% | 9.7% | ||
| Q4 24 | 14.6% | 12.0% | ||
| Q3 24 | 57.8% | 20.6% | ||
| Q2 24 | 24.9% | 9.2% | ||
| Q1 24 | 23.6% | 18.5% |
资本支出强度CFMLI
| Q4 25 | 12.1% | 2.1% | ||
| Q3 25 | 20.9% | 1.7% | ||
| Q2 25 | 13.0% | 1.2% | ||
| Q1 25 | 7.9% | 1.7% | ||
| Q4 24 | 12.9% | 3.1% | ||
| Q3 24 | 10.1% | 2.6% | ||
| Q2 24 | 5.3% | 0.9% | ||
| Q1 24 | 6.7% | 1.9% |
现金转化率CFMLI
| Q4 25 | 1.09× | 0.92× | ||
| Q3 25 | 2.31× | 1.49× | ||
| Q2 25 | 1.14× | 0.78× | ||
| Q1 25 | 1.67× | 0.72× | ||
| Q4 24 | 1.07× | 1.02× | ||
| Q3 24 | 2.73× | 1.37× | ||
| Q2 24 | 0.94× | 0.63× | ||
| Q1 24 | 1.87× | 1.25× |
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% |
MLI
| Tube And Fittings | $484.6M | 50% |
| Industrial Metals | $252.2M | 26% |
| Valves And Plumbing Specialties | $122.5M | 13% |
| Flex Duct And Other HVAC Components | $80.8M | 8% |
| Other Products | $14.9M | 2% |
