vs
CF Industries（CF）与Rivian Automotive, Inc.（RIVN）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Rivian Automotive, Inc.的1.5倍（$1.9B vs $1.3B），CF Industries净利率更高（26.4% vs -63.1%，领先89.5%），CF Industries同比增速更快（22.8% vs -25.8%），CF Industries自由现金流更多（$313.0M vs $-1.1B），过去两年CF Industries的营收复合增速更高（12.8% vs 3.3%）
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。
Rivian Automotive是2009年成立的美国电动汽车制造商及汽车科技企业，主打基于自研滑板平台打造的电动SUV、皮卡及EDV电动配送货车，旗下R1T皮卡于2021年末正式开启交付，还计划于2023年底前在美国和加拿大布局专属充电网络，其平台可适配新车型也可对外授权使用。
CF vs RIVN — 直观对比
营收规模更大
CF
是对方的1.5倍
$1.3B
营收增速更快
CF
高出48.7%
-25.8%
净利率更高
CF
高出89.5%
-63.1%
自由现金流更多
CF
多$1.5B
$-1.1B
两年增速更快
CF
近两年复合增速
3.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $1.3B |
| 净利润 | $495.0M | $-811.0M |
| 毛利率 | 40.9% | 9.3% |
| 营业利润率 | 33.0% | -64.8% |
| 净利率 | 26.4% | -63.1% |
| 营收同比 | 22.8% | -25.8% |
| 净利润同比 | 26.3% | -9.0% |
| 每股收益（稀释后） | $2.56 | $-0.66 |
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CFRIVN
| Q4 25 | $1.9B | $1.3B | ||
| Q3 25 | $1.7B | $1.6B | ||
| Q2 25 | $1.9B | $1.3B | ||
| Q1 25 | $1.7B | $1.2B | ||
| Q4 24 | $1.5B | $1.7B | ||
| Q3 24 | $1.4B | $874.0M | ||
| Q2 24 | $1.6B | $1.2B | ||
| Q1 24 | $1.5B | $1.2B |
净利润CFRIVN
| Q4 25 | $495.0M | $-811.0M | ||
| Q3 25 | $460.0M | $-1.2B | ||
| Q2 25 | $492.0M | $-1.1B | ||
| Q1 25 | $351.0M | $-545.0M | ||
| Q4 24 | $392.0M | $-744.0M | ||
| Q3 24 | $341.0M | $-1.1B | ||
| Q2 24 | $506.0M | $-1.5B | ||
| Q1 24 | $238.0M | $-1.4B |
毛利率CFRIVN
| Q4 25 | 40.9% | 9.3% | ||
| Q3 25 | 38.1% | 1.5% | ||
| Q2 25 | 39.9% | -15.8% | ||
| Q1 25 | 34.4% | 16.6% | ||
| Q4 24 | 34.4% | 9.8% | ||
| Q3 24 | 32.4% | -44.9% | ||
| Q2 24 | 43.2% | -38.9% | ||
| Q1 24 | 27.8% | -43.8% |
营业利润率CFRIVN
| Q4 25 | 33.0% | -64.8% | ||
| Q3 25 | 35.0% | -63.1% | ||
| Q2 25 | 34.3% | -85.5% | ||
| Q1 25 | 27.4% | -52.8% | ||
| Q4 24 | 28.9% | -38.1% | ||
| Q3 24 | 26.6% | -133.8% | ||
| Q2 24 | 40.6% | -118.7% | ||
| Q1 24 | 20.6% | -123.3% |
净利率CFRIVN
| Q4 25 | 26.4% | -63.1% | ||
| Q3 25 | 27.7% | -75.3% | ||
| Q2 25 | 26.0% | -85.7% | ||
| Q1 25 | 21.1% | -44.0% | ||
| Q4 24 | 25.7% | -42.9% | ||
| Q3 24 | 24.9% | -125.9% | ||
| Q2 24 | 32.2% | -125.8% | ||
| Q1 24 | 16.2% | -120.1% |
每股收益（稀释后）CFRIVN
| Q4 25 | $2.56 | $-0.66 | ||
| Q3 25 | $2.19 | $-0.96 | ||
| Q2 25 | $2.37 | $-0.97 | ||
| Q1 25 | $1.85 | $-0.48 | ||
| Q4 24 | $1.86 | $-0.67 | ||
| Q3 24 | $1.55 | $-1.08 | ||
| Q2 24 | $2.30 | $-1.46 | ||
| Q1 24 | $1.03 | $-1.48 |
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 | — | $6.1B |
| 总债务越低越好 | $3.2B | — |
| 股东权益账面价值 | $4.8B | $4.6B |
| 总资产 | $14.1B | $14.9B |
| 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CFRIVN
| Q4 25 | — | $6.1B | ||
| Q3 25 | — | $7.1B | ||
| Q2 25 | — | $7.5B | ||
| Q1 25 | — | $7.2B | ||
| Q4 24 | — | $7.7B | ||
| Q3 24 | — | $6.7B | ||
| Q2 24 | — | $7.9B | ||
| Q1 24 | — | $7.9B |
总债务CFRIVN
| 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 | $5.5B | ||
| Q1 24 | $3.0B | $4.4B |
股东权益CFRIVN
| Q4 25 | $4.8B | $4.6B | ||
| Q3 25 | $4.8B | $5.1B | ||
| Q2 25 | $5.0B | $6.1B | ||
| Q1 25 | $4.8B | $6.2B | ||
| Q4 24 | $5.0B | $6.6B | ||
| Q3 24 | $5.2B | $5.9B | ||
| Q2 24 | $5.5B | $6.8B | ||
| Q1 24 | $5.4B | $8.1B |
总资产CFRIVN
| Q4 25 | $14.1B | $14.9B | ||
| Q3 25 | $14.2B | $15.2B | ||
| Q2 25 | $13.8B | $15.6B | ||
| Q1 25 | $13.3B | $15.5B | ||
| Q4 24 | $13.5B | $15.4B | ||
| Q3 24 | $13.8B | $14.3B | ||
| Q2 24 | $13.8B | $15.4B | ||
| Q1 24 | $13.9B | $15.7B |
负债/权益比CFRIVN
| 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× | 0.81× | ||
| Q1 24 | 0.55× | 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 | $-681.0M |
| 自由现金流经营现金流 - 资本支出 | $313.0M | $-1.1B |
| 自由现金流率自由现金流/营收 | 16.7% | -89.0% |
| 资本支出强度资本支出/营收 | 12.1% | 36.0% |
| 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 | $-2.5B |
8季度趋势，按日历期对齐
经营现金流CFRIVN
| Q4 25 | $539.0M | $-681.0M | ||
| Q3 25 | $1.1B | $26.0M | ||
| Q2 25 | $563.0M | $64.0M | ||
| Q1 25 | $586.0M | $-188.0M | ||
| Q4 24 | $420.0M | $1.2B | ||
| Q3 24 | $931.0M | $-876.0M | ||
| Q2 24 | $475.0M | $-754.0M | ||
| Q1 24 | $445.0M | $-1.3B |
自由现金流CFRIVN
| Q4 25 | $313.0M | $-1.1B | ||
| Q3 25 | $717.0M | $-421.0M | ||
| Q2 25 | $318.0M | $-398.0M | ||
| Q1 25 | $454.0M | $-526.0M | ||
| Q4 24 | $223.0M | $856.0M | ||
| Q3 24 | $792.0M | $-1.2B | ||
| Q2 24 | $391.0M | $-1.0B | ||
| Q1 24 | $347.0M | $-1.5B |
自由现金流率CFRIVN
| Q4 25 | 16.7% | -89.0% | ||
| Q3 25 | 43.2% | -27.0% | ||
| Q2 25 | 16.8% | -30.5% | ||
| Q1 25 | 27.3% | -42.4% | ||
| Q4 24 | 14.6% | 49.4% | ||
| Q3 24 | 57.8% | -131.9% | ||
| Q2 24 | 24.9% | -89.6% | ||
| Q1 24 | 23.6% | -126.5% |
资本支出强度CFRIVN
| Q4 25 | 12.1% | 36.0% | ||
| Q3 25 | 20.9% | 28.7% | ||
| Q2 25 | 13.0% | 35.5% | ||
| Q1 25 | 7.9% | 27.3% | ||
| Q4 24 | 12.9% | 18.9% | ||
| Q3 24 | 10.1% | 31.7% | ||
| Q2 24 | 5.3% | 24.4% | ||
| Q1 24 | 6.7% | 21.1% |
现金转化率CFRIVN
| Q4 25 | 1.09× | — | ||
| Q3 25 | 2.31× | — | ||
| Q2 25 | 1.14× | — | ||
| Q1 25 | 1.67× | — | ||
| Q4 24 | 1.07× | — | ||
| Q3 24 | 2.73× | — | ||
| Q2 24 | 0.94× | — | ||
| Q1 24 | 1.87× | — |
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% |
RIVN
| Automotive Segment | $839.0M | 65% |
| Software And Services Segment | $447.0M | 35% |
| Regulatory Credits | $30.0M | 2% |
