vs
CF Industries（CF）与百利高（PRGO）财务数据对比。点击上方公司名可切换其他公司
CF Industries的季度营收约是百利高的1.8倍（$2.0B vs $1.1B），CF Industries净利率更高（31.0% vs -127.8%，领先158.8%），CF Industries同比增速更快（19.4% vs -2.5%），CF Industries自由现金流更多（$1.7B vs $148.6M），过去两年CF Industries的营收复合增速更高（12.4% vs 1.3%）
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。
百利高（Perrigo）是一家注册于爱尔兰的非处方仿制药生产商，主打自有品牌OTC药品业务。公司70%的净销售额来自美国医疗市场，为优化税务布局将法定总部设在爱尔兰，该地区销售额仅占总营收的0.6%，2013年曾完成美国历史上第六大企业税收倒置交易。
CF vs PRGO — 直观对比
营收规模更大
CF
是对方的1.8倍
$1.1B
营收增速更快
CF
高出21.9%
-2.5%
净利率更高
CF
高出158.8%
-127.8%
自由现金流更多
CF
多$1.5B
$148.6M
两年增速更快
CF
近两年复合增速
1.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $1.1B |
| 净利润 | $615.0M | $-1.4B |
| 毛利率 | 37.6% | 32.6% |
| 营业利润率 | 43.5% | -116.0% |
| 净利率 | 31.0% | -127.8% |
| 营收同比 | 19.4% | -2.5% |
| 净利润同比 | 97.1% | -3093.9% |
| 每股收益（稀释后） | $3.98 | $-10.23 |
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CFPRGO
| Q1 26 | $2.0B | — | ||
| Q4 25 | $1.9B | $1.1B | ||
| Q3 25 | $1.7B | $1.0B | ||
| Q2 25 | $1.9B | $1.1B | ||
| Q1 25 | $1.7B | $1.0B | ||
| Q4 24 | $1.5B | $1.1B | ||
| Q3 24 | $1.4B | $1.1B | ||
| Q2 24 | $1.6B | $1.1B |
净利润CFPRGO
| Q1 26 | $615.0M | — | ||
| Q4 25 | $495.0M | $-1.4B | ||
| Q3 25 | $460.0M | $7.5M | ||
| Q2 25 | $492.0M | $-8.4M | ||
| Q1 25 | $351.0M | $-6.4M | ||
| Q4 24 | $392.0M | $-44.4M | ||
| Q3 24 | $341.0M | $-21.0M | ||
| Q2 24 | $506.0M | $-108.4M |
毛利率CFPRGO
| Q1 26 | 37.6% | — | ||
| Q4 25 | 40.9% | 32.6% | ||
| Q3 25 | 38.1% | 36.1% | ||
| Q2 25 | 39.9% | 34.4% | ||
| Q1 25 | 34.4% | 37.6% | ||
| Q4 24 | 34.4% | 33.9% | ||
| Q3 24 | 32.4% | 37.2% | ||
| Q2 24 | 43.2% | 37.0% |
营业利润率CFPRGO
| Q1 26 | 43.5% | — | ||
| Q4 25 | 33.0% | -116.0% | ||
| Q3 25 | 35.0% | 7.0% | ||
| Q2 25 | 34.3% | 4.3% | ||
| Q1 25 | 27.4% | 4.5% | ||
| Q4 24 | 28.9% | 10.0% | ||
| Q3 24 | 26.6% | 7.4% | ||
| Q2 24 | 40.6% | -2.5% |
净利率CFPRGO
| Q1 26 | 31.0% | — | ||
| Q4 25 | 26.4% | -127.8% | ||
| Q3 25 | 27.7% | 0.7% | ||
| Q2 25 | 26.0% | -0.8% | ||
| Q1 25 | 21.1% | -0.6% | ||
| Q4 24 | 25.7% | -3.9% | ||
| Q3 24 | 24.9% | -1.9% | ||
| Q2 24 | 32.2% | -10.2% |
每股收益（稀释后）CFPRGO
| Q1 26 | $3.98 | — | ||
| Q4 25 | $2.56 | $-10.23 | ||
| Q3 25 | $2.19 | $0.05 | ||
| Q2 25 | $2.37 | $-0.06 | ||
| Q1 25 | $1.85 | $-0.05 | ||
| Q4 24 | $1.86 | $-0.32 | ||
| Q3 24 | $1.55 | $-0.15 | ||
| Q2 24 | $2.30 | $-0.79 |
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 | — | — |
| 总债务越低越好 | $3.2B | — |
| 股东权益账面价值 | $5.3B | $2.9B |
| 总资产 | $14.6B | $8.5B |
| 负债/权益比越低杠杆越低 | 0.60× | — |
8季度趋势，按日历期对齐
现金及短期投资CFPRGO
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $432.1M | ||
| Q2 25 | — | $454.2M | ||
| Q1 25 | — | $409.9M | ||
| Q4 24 | — | $558.8M | ||
| Q3 24 | — | $1.5B | ||
| Q2 24 | — | $542.8M |
总债务CFPRGO
| Q1 26 | $3.2B | — | ||
| 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 | — |
股东权益CFPRGO
| Q1 26 | $5.3B | — | ||
| Q4 25 | $4.8B | $2.9B | ||
| Q3 25 | $4.8B | $4.4B | ||
| Q2 25 | $5.0B | $4.5B | ||
| Q1 25 | $4.8B | $4.4B | ||
| Q4 24 | $5.0B | $4.3B | ||
| Q3 24 | $5.2B | $4.6B | ||
| Q2 24 | $5.5B | $4.5B |
总资产CFPRGO
| Q1 26 | $14.6B | — | ||
| Q4 25 | $14.1B | $8.5B | ||
| Q3 25 | $14.2B | $10.1B | ||
| Q2 25 | $13.8B | $10.1B | ||
| Q1 25 | $13.3B | $9.8B | ||
| Q4 24 | $13.5B | $9.6B | ||
| Q3 24 | $13.8B | $11.2B | ||
| Q2 24 | $13.8B | $10.4B |
负债/权益比CFPRGO
| Q1 26 | 0.60× | — | ||
| 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× | — |
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 | $496.0M | $175.4M |
| 自由现金流经营现金流 - 资本支出 | $1.7B | $148.6M |
| 自由现金流率自由现金流/营收 | 83.2% | 13.4% |
| 资本支出强度资本支出/营收 | 11.2% | 2.4% |
| 现金转化率经营现金流/净利润 | 0.81× | — |
| 过去12个月自由现金流最近4个季度 | $3.0B | $145.1M |
8季度趋势，按日历期对齐
经营现金流CFPRGO
| Q1 26 | $496.0M | — | ||
| Q4 25 | $539.0M | $175.4M | ||
| Q3 25 | $1.1B | $51.7M | ||
| Q2 25 | $563.0M | $75.9M | ||
| Q1 25 | $586.0M | $-64.5M | ||
| Q4 24 | $420.0M | $312.6M | ||
| Q3 24 | $931.0M | $42.2M | ||
| Q2 24 | $475.0M | $9.5M |
自由现金流CFPRGO
| Q1 26 | $1.7B | — | ||
| Q4 25 | $313.0M | $148.6M | ||
| Q3 25 | $717.0M | $29.8M | ||
| Q2 25 | $318.0M | $56.7M | ||
| Q1 25 | $454.0M | $-90.0M | ||
| Q4 24 | $223.0M | $274.9M | ||
| Q3 24 | $792.0M | $15.1M | ||
| Q2 24 | $391.0M | $-18.9M |
自由现金流率CFPRGO
| Q1 26 | 83.2% | — | ||
| Q4 25 | 16.7% | 13.4% | ||
| Q3 25 | 43.2% | 2.9% | ||
| Q2 25 | 16.8% | 5.4% | ||
| Q1 25 | 27.3% | -8.6% | ||
| Q4 24 | 14.6% | 24.2% | ||
| Q3 24 | 57.8% | 1.4% | ||
| Q2 24 | 24.9% | -1.8% |
资本支出强度CFPRGO
| Q1 26 | 11.2% | — | ||
| Q4 25 | 12.1% | 2.4% | ||
| Q3 25 | 20.9% | 2.1% | ||
| Q2 25 | 13.0% | 1.8% | ||
| Q1 25 | 7.9% | 2.4% | ||
| Q4 24 | 12.9% | 3.3% | ||
| Q3 24 | 10.1% | 2.5% | ||
| Q2 24 | 5.3% | 2.7% |
现金转化率CFPRGO
| Q1 26 | 0.81× | — | ||
| Q4 25 | 1.09× | — | ||
| Q3 25 | 2.31× | 6.89× | ||
| Q2 25 | 1.14× | — | ||
| Q1 25 | 1.67× | — | ||
| Q4 24 | 1.07× | — | ||
| Q3 24 | 2.73× | — | ||
| Q2 24 | 0.94× | — |
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
| EBITDA | $1.0B | 51% |
| Other | $975.0M | 49% |
| Loss on foreign currency transactions | $3.0M | 0% |
PRGO
| Consumer Self Care Americas | $697.0M | 63% |
| Digestive Health | $123.9M | 11% |
| Nutrition | $108.3M | 10% |
| Healthy Lifestyle | $94.8M | 9% |
| Pain And Sleep Aids | $87.1M | 8% |
