vs
CF Industries（CF）与欧文斯科宁（OC）财务数据对比。点击上方公司名可切换其他公司
欧文斯科宁的季度营收约是CF Industries的1.1倍（$2.1B vs $1.9B）。CF Industries净利率更高（26.4% vs -13.9%，领先40.4%）。CF Industries同比增速更快（22.8% vs -24.6%）。欧文斯科宁自由现金流更多（$333.0M vs $313.0M）。过去两年CF Industries的营收复合增速更高（12.8% vs -3.5%）
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。
欧文斯科宁是美国知名建材及复合材料企业，1935年由康宁玻璃厂与欧文斯-伊利诺伊公司合资组建。主营保温材料、屋面材料、玻璃纤维复合材料及相关产品，是全球最大的玻璃纤维复合材料生产商，全球员工约1.9万人，自1955年《财富》500强榜单创立以来连年上榜。
CF vs OC — 直观对比
营收规模更大
OC
是对方的1.1倍
$1.9B
营收增速更快
CF
高出47.4%
-24.6%
净利率更高
CF
高出40.4%
-13.9%
自由现金流更多
OC
多$20.0M
$313.0M
两年增速更快
CF
近两年复合增速
-3.5%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $2.1B |
| 净利润 | $495.0M | $-298.0M |
| 毛利率 | 40.9% | 23.2% |
| 营业利润率 | 33.0% | -10.5% |
| 净利率 | 26.4% | -13.9% |
| 营收同比 | 22.8% | -24.6% |
| 净利润同比 | 26.3% | -15.5% |
| 每股收益（稀释后） | $2.56 | $-3.47 |
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CFOC
| Q4 25 | $1.9B | $2.1B | ||
| Q3 25 | $1.7B | $2.7B | ||
| Q2 25 | $1.9B | $2.7B | ||
| Q1 25 | $1.7B | $2.5B | ||
| Q4 24 | $1.5B | $2.8B | ||
| Q3 24 | $1.4B | $3.0B | ||
| Q2 24 | $1.6B | $2.8B | ||
| Q1 24 | $1.5B | $2.3B |
净利润CFOC
| Q4 25 | $495.0M | $-298.0M | ||
| Q3 25 | $460.0M | $-494.0M | ||
| Q2 25 | $492.0M | $363.0M | ||
| Q1 25 | $351.0M | $-93.0M | ||
| Q4 24 | $392.0M | $-258.0M | ||
| Q3 24 | $341.0M | $321.0M | ||
| Q2 24 | $506.0M | $285.0M | ||
| Q1 24 | $238.0M | $299.0M |
毛利率CFOC
| Q4 25 | 40.9% | 23.2% | ||
| Q3 25 | 38.1% | 28.2% | ||
| Q2 25 | 39.9% | 31.2% | ||
| Q1 25 | 34.4% | 28.7% | ||
| Q4 24 | 34.4% | 28.1% | ||
| Q3 24 | 32.4% | 29.8% | ||
| Q2 24 | 43.2% | 31.1% | ||
| Q1 24 | 27.8% | 29.6% |
营业利润率CFOC
| Q4 25 | 33.0% | -10.5% | ||
| Q3 25 | 35.0% | -12.2% | ||
| Q2 25 | 34.3% | 18.4% | ||
| Q1 25 | 27.4% | 16.1% | ||
| Q4 24 | 28.9% | -8.5% | ||
| Q3 24 | 26.6% | 16.7% | ||
| Q2 24 | 40.6% | 16.4% | ||
| Q1 24 | 20.6% | 17.5% |
净利率CFOC
| Q4 25 | 26.4% | -13.9% | ||
| Q3 25 | 27.7% | -18.4% | ||
| Q2 25 | 26.0% | 13.2% | ||
| Q1 25 | 21.1% | -3.7% | ||
| Q4 24 | 25.7% | -9.1% | ||
| Q3 24 | 24.9% | 10.5% | ||
| Q2 24 | 32.2% | 10.2% | ||
| Q1 24 | 16.2% | 13.0% |
每股收益（稀释后）CFOC
| Q4 25 | $2.56 | $-3.47 | ||
| Q3 25 | $2.19 | $-5.92 | ||
| Q2 25 | $2.37 | $4.25 | ||
| Q1 25 | $1.85 | $-1.08 | ||
| Q4 24 | $1.86 | $-2.92 | ||
| Q3 24 | $1.55 | $3.65 | ||
| Q2 24 | $2.30 | $3.24 | ||
| Q1 24 | $1.03 | $3.40 |
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 | — | $345.0M |
| 总债务越低越好 | $3.2B | $4.7B |
| 股东权益账面价值 | $4.8B | $3.9B |
| 总资产 | $14.1B | $13.0B |
| 负债/权益比越低杠杆越低 | 0.66× | 1.22× |
8季度趋势，按日历期对齐
现金及短期投资CFOC
| Q4 25 | — | $345.0M | ||
| Q3 25 | — | $286.0M | ||
| Q2 25 | — | $230.0M | ||
| Q1 25 | — | $400.0M | ||
| Q4 24 | — | $361.0M | ||
| Q3 24 | — | $499.0M | ||
| Q2 24 | — | $254.0M | ||
| Q1 24 | — | $1.3B |
总债务CFOC
| Q4 25 | $3.2B | $4.7B | ||
| Q3 25 | $3.0B | $4.7B | ||
| Q2 25 | $3.0B | $5.1B | ||
| Q1 25 | $3.0B | $5.0B | ||
| Q4 24 | $3.0B | $5.1B | ||
| Q3 24 | $3.0B | $5.0B | ||
| Q2 24 | $3.0B | $5.0B | ||
| Q1 24 | $3.0B | $2.6B |
股东权益CFOC
| Q4 25 | $4.8B | $3.9B | ||
| Q3 25 | $4.8B | $4.4B | ||
| Q2 25 | $5.0B | $5.2B | ||
| Q1 25 | $4.8B | $4.9B | ||
| Q4 24 | $5.0B | $5.1B | ||
| Q3 24 | $5.2B | $5.6B | ||
| Q2 24 | $5.5B | $5.5B | ||
| Q1 24 | $5.4B | $5.2B |
总资产CFOC
| Q4 25 | $14.1B | $13.0B | ||
| Q3 25 | $14.2B | $13.5B | ||
| Q2 25 | $13.8B | $14.5B | ||
| Q1 25 | $13.3B | $14.3B | ||
| Q4 24 | $13.5B | $14.1B | ||
| Q3 24 | $13.8B | $15.1B | ||
| Q2 24 | $13.8B | $15.0B | ||
| Q1 24 | $13.9B | $11.3B |
负债/权益比CFOC
| Q4 25 | 0.66× | 1.22× | ||
| Q3 25 | 0.61× | 1.06× | ||
| Q2 25 | 0.60× | 0.98× | ||
| Q1 25 | 0.62× | 1.03× | ||
| Q4 24 | 0.60× | 1.01× | ||
| Q3 24 | 0.57× | 0.89× | ||
| Q2 24 | 0.54× | 0.92× | ||
| Q1 24 | 0.55× | 0.51× |
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 | $590.0M |
| 自由现金流经营现金流 - 资本支出 | $313.0M | $333.0M |
| 自由现金流率自由现金流/营收 | 16.7% | 15.5% |
| 资本支出强度资本支出/营收 | 12.1% | 12.0% |
| 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 | $962.0M |
8季度趋势，按日历期对齐
经营现金流CFOC
| Q4 25 | $539.0M | $590.0M | ||
| Q3 25 | $1.1B | $918.0M | ||
| Q2 25 | $563.0M | $327.0M | ||
| Q1 25 | $586.0M | $-49.0M | ||
| Q4 24 | $420.0M | $676.0M | ||
| Q3 24 | $931.0M | $699.0M | ||
| Q2 24 | $475.0M | $493.0M | ||
| Q1 24 | $445.0M | $24.0M |
自由现金流CFOC
| Q4 25 | $313.0M | $333.0M | ||
| Q3 25 | $717.0M | $752.0M | ||
| Q2 25 | $318.0M | $129.0M | ||
| Q1 25 | $454.0M | $-252.0M | ||
| Q4 24 | $223.0M | $479.0M | ||
| Q3 24 | $792.0M | $558.0M | ||
| Q2 24 | $391.0M | $336.0M | ||
| Q1 24 | $347.0M | $-128.0M |
自由现金流率CFOC
| Q4 25 | 16.7% | 15.5% | ||
| Q3 25 | 43.2% | 28.0% | ||
| Q2 25 | 16.8% | 4.7% | ||
| Q1 25 | 27.3% | -10.0% | ||
| Q4 24 | 14.6% | 16.9% | ||
| Q3 24 | 57.8% | 18.3% | ||
| Q2 24 | 24.9% | 12.0% | ||
| Q1 24 | 23.6% | -5.6% |
资本支出强度CFOC
| Q4 25 | 12.1% | 12.0% | ||
| Q3 25 | 20.9% | 6.2% | ||
| Q2 25 | 13.0% | 7.2% | ||
| Q1 25 | 7.9% | 8.0% | ||
| Q4 24 | 12.9% | 6.9% | ||
| Q3 24 | 10.1% | 4.6% | ||
| Q2 24 | 5.3% | 5.6% | ||
| Q1 24 | 6.7% | 6.6% |
现金转化率CFOC
| Q4 25 | 1.09× | — | ||
| Q3 25 | 2.31× | — | ||
| Q2 25 | 1.14× | 0.90× | ||
| Q1 25 | 1.67× | — | ||
| Q4 24 | 1.07× | — | ||
| Q3 24 | 2.73× | 2.18× | ||
| Q2 24 | 0.94× | 1.73× | ||
| Q1 24 | 1.87× | 0.08× |
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% |
OC
| Insulation | $724.0M | 34% |
| Residential | $625.0M | 29% |
| Doors | $427.0M | 20% |
| Discontinued Operations Disposed Of By Sale | $299.0M | 14% |
| Commercial And Industrial Sector | $101.0M | 5% |
