vs
CF Industries（CF）与Rocket Companies, Inc.（RKT）财务数据对比。点击上方公司名可切换其他公司
Rocket Companies, Inc.的季度营收约是CF Industries的1.4倍（$2.7B vs $1.9B），CF Industries净利率更高（26.4% vs 2.5%，领先23.9%），Rocket Companies, Inc.同比增速更快（52.2% vs 22.8%），CF Industries自由现金流更多（$313.0M vs $-1.3B），过去两年Rocket Companies, Inc.的营收复合增速更高（39.5% vs 12.8%）
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。
Rocket Companies, Inc.是美国金融科技及住房服务企业，由丹·吉尔伯特创立，总部位于密歇根州底特律市中心。公司依托旗舰子公司Rocket Mortgage跻身美国最大抵押贷款提供商行列，旗下还拥有Redfin、Forsalebyowner.com、Rocket Money等子品牌。
CF vs RKT — 直观对比
营收规模更大
RKT
是对方的1.4倍
$1.9B
营收增速更快
RKT
高出29.3%
22.8%
净利率更高
CF
高出23.9%
2.5%
自由现金流更多
CF
多$1.6B
$-1.3B
两年增速更快
RKT
近两年复合增速
12.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $2.7B |
| 净利润 | $495.0M | $68.0M |
| 毛利率 | 40.9% | — |
| 营业利润率 | 33.0% | 6.3% |
| 净利率 | 26.4% | 2.5% |
| 营收同比 | 22.8% | 52.2% |
| 净利润同比 | 26.3% | 100.8% |
| 每股收益（稀释后） | $2.56 | $0.10 |
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CFRKT
| Q4 25 | $1.9B | $2.7B | ||
| Q3 25 | $1.7B | $1.6B | ||
| Q2 25 | $1.9B | $1.4B | ||
| Q1 25 | $1.7B | $1.0B | ||
| Q4 24 | $1.5B | $1.8B | ||
| Q3 24 | $1.4B | $646.9M | ||
| Q2 24 | $1.6B | $1.3B | ||
| Q1 24 | $1.5B | $1.4B |
净利润CFRKT
| Q4 25 | $495.0M | $68.0M | ||
| Q3 25 | $460.0M | $-123.9M | ||
| Q2 25 | $492.0M | $-1.8M | ||
| Q1 25 | $351.0M | $-10.4M | ||
| Q4 24 | $392.0M | $33.9M | ||
| Q3 24 | $341.0M | $-22.0M | ||
| Q2 24 | $506.0M | $1.3M | ||
| Q1 24 | $238.0M | $16.2M |
毛利率CFRKT
| Q4 25 | 40.9% | — | ||
| Q3 25 | 38.1% | — | ||
| Q2 25 | 39.9% | — | ||
| Q1 25 | 34.4% | — | ||
| Q4 24 | 34.4% | 58.9% | ||
| Q3 24 | 32.4% | -8.4% | ||
| Q2 24 | 43.2% | 47.4% | ||
| Q1 24 | 27.8% | 51.2% |
营业利润率CFRKT
| Q4 25 | 33.0% | 6.3% | ||
| Q3 25 | 35.0% | -11.5% | ||
| Q2 25 | 34.3% | 1.8% | ||
| Q1 25 | 27.4% | -21.5% | ||
| Q4 24 | 28.9% | 38.1% | ||
| Q3 24 | 26.6% | -76.9% | ||
| Q2 24 | 40.6% | 14.8% | ||
| Q1 24 | 20.6% | 21.6% |
净利率CFRKT
| Q4 25 | 26.4% | 2.5% | ||
| Q3 25 | 27.7% | -7.7% | ||
| Q2 25 | 26.0% | -0.1% | ||
| Q1 25 | 21.1% | -1.0% | ||
| Q4 24 | 25.7% | 1.9% | ||
| Q3 24 | 24.9% | -3.4% | ||
| Q2 24 | 32.2% | 0.1% | ||
| Q1 24 | 16.2% | 1.2% |
每股收益（稀释后）CFRKT
| Q4 25 | $2.56 | $0.10 | ||
| Q3 25 | $2.19 | $-0.06 | ||
| Q2 25 | $2.37 | $-0.01 | ||
| Q1 25 | $1.85 | $-0.08 | ||
| Q4 24 | $1.86 | $0.28 | ||
| Q3 24 | $1.55 | $-0.19 | ||
| Q2 24 | $2.30 | $0.01 | ||
| Q1 24 | $1.03 | $0.11 |
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 | — | $2.7B |
| 总债务越低越好 | $3.2B | — |
| 股东权益账面价值 | $4.8B | $22.9B |
| 总资产 | $14.1B | $60.7B |
| 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CFRKT
| Q4 25 | — | $2.7B | ||
| Q3 25 | — | $5.8B | ||
| Q2 25 | — | $5.1B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $1.3B | ||
| Q1 24 | — | $861.4M |
总债务CFRKT
| 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CFRKT
| Q4 25 | $4.8B | $22.9B | ||
| Q3 25 | $4.8B | $8.9B | ||
| Q2 25 | $5.0B | $7.4B | ||
| Q1 25 | $4.8B | $8.6B | ||
| Q4 24 | $5.0B | $9.0B | ||
| Q3 24 | $5.2B | $8.4B | ||
| Q2 24 | $5.5B | $8.8B | ||
| Q1 24 | $5.4B | $8.6B |
总资产CFRKT
| Q4 25 | $14.1B | $60.7B | ||
| Q3 25 | $14.2B | $33.6B | ||
| Q2 25 | $13.8B | $30.4B | ||
| Q1 25 | $13.3B | $25.3B | ||
| Q4 24 | $13.5B | $24.5B | ||
| Q3 24 | $13.8B | $25.1B | ||
| Q2 24 | $13.8B | $23.6B | ||
| Q1 24 | $13.9B | $22.2B |
负债/权益比CFRKT
| 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 | $-1.2B |
| 自由现金流经营现金流 - 资本支出 | $313.0M | $-1.3B |
| 自由现金流率自由现金流/营收 | 16.7% | -47.2% |
| 资本支出强度资本支出/营收 | 12.1% | 1.5% |
| 现金转化率经营现金流/净利润 | 1.09× | -18.08× |
| 过去12个月自由现金流最近4个季度 | $1.8B | $-4.0B |
8季度趋势，按日历期对齐
经营现金流CFRKT
| Q4 25 | $539.0M | $-1.2B | ||
| Q3 25 | $1.1B | $-50.3M | ||
| Q2 25 | $563.0M | $-1.9B | ||
| Q1 25 | $586.0M | $-797.0M | ||
| Q4 24 | $420.0M | $1.8B | ||
| Q3 24 | $931.0M | $-1.3B | ||
| Q2 24 | $475.0M | $-122.3M | ||
| Q1 24 | $445.0M | $-3.0B |
自由现金流CFRKT
| Q4 25 | $313.0M | $-1.3B | ||
| Q3 25 | $717.0M | $-71.8M | ||
| Q2 25 | $318.0M | $-1.9B | ||
| Q1 25 | $454.0M | $-811.0M | ||
| Q4 24 | $223.0M | $1.8B | ||
| Q3 24 | $792.0M | $-1.4B | ||
| Q2 24 | $391.0M | $-138.3M | ||
| Q1 24 | $347.0M | $-3.0B |
自由现金流率CFRKT
| Q4 25 | 16.7% | -47.2% | ||
| Q3 25 | 43.2% | -4.5% | ||
| Q2 25 | 16.8% | -137.2% | ||
| Q1 25 | 27.3% | -78.2% | ||
| Q4 24 | 14.6% | 103.1% | ||
| Q3 24 | 57.8% | -209.6% | ||
| Q2 24 | 24.9% | -10.6% | ||
| Q1 24 | 23.6% | -218.7% |
资本支出强度CFRKT
| Q4 25 | 12.1% | 1.5% | ||
| Q3 25 | 20.9% | 1.3% | ||
| Q2 25 | 13.0% | 1.1% | ||
| Q1 25 | 7.9% | 1.4% | ||
| Q4 24 | 12.9% | 1.1% | ||
| Q3 24 | 10.1% | 2.9% | ||
| Q2 24 | 5.3% | 1.2% | ||
| Q1 24 | 6.7% | 1.0% |
现金转化率CFRKT
| Q4 25 | 1.09× | -18.08× | ||
| Q3 25 | 2.31× | — | ||
| Q2 25 | 1.14× | — | ||
| Q1 25 | 1.67× | — | ||
| Q4 24 | 1.07× | 54.42× | ||
| Q3 24 | 2.73× | — | ||
| Q2 24 | 0.94× | -94.46× | ||
| Q1 24 | 1.87× | -185.80× |
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% |
RKT
| Other | $1.4B | 51% |
| Direct To Customer Segment | $945.8M | 35% |
| Partner Network Segment | $216.7M | 8% |
| Subscription Revenue | $91.3M | 3% |
| Closing Fees | $47.1M | 2% |
| Appraisal Revenue | $10.7M | 0% |
