vs
CF Industries（CF）与RAYONIER ADVANCED MATERIALS INC.（RYAM）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RAYONIER ADVANCED MATERIALS INC.的4.5倍（$1.9B vs $417.5M）。CF Industries净利率更高（26.4% vs -5.0%，领先31.5%）。CF Industries同比增速更快（22.8% vs -1.2%）。过去两年CF Industries的营收复合增速更高（12.8% vs 3.8%）
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。
RYAM（原雷尼尔先进材料公司）是一家美国全球性纤维素技术企业，主打高纯度特种纤维素产品，所生产的天然聚合物广泛应用于过滤器生产、食品加工、医药制造及各类工业领域，同时也为造纸和包装行业供应相关产品，在纤维素技术领域拥有较高的行业认可度。
CF vs RYAM — 直观对比
营收规模更大
CF
是对方的4.5倍
$417.5M
营收增速更快
CF
高出24.0%
-1.2%
净利率更高
CF
高出31.5%
-5.0%
两年增速更快
CF
近两年复合增速
3.8%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $417.5M |
| 净利润 | $495.0M | $-21.1M |
| 毛利率 | 40.9% | 8.9% |
| 营业利润率 | 33.0% | 2.6% |
| 净利率 | 26.4% | -5.0% |
| 营收同比 | 22.8% | -1.2% |
| 净利润同比 | 26.3% | -31.9% |
| 每股收益（稀释后） | $2.56 | $-0.33 |
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CFRYAM
| Q4 25 | $1.9B | $417.5M | ||
| Q3 25 | $1.7B | $352.8M | ||
| Q2 25 | $1.9B | $340.0M | ||
| Q1 25 | $1.7B | $356.0M | ||
| Q4 24 | $1.5B | $422.5M | ||
| Q3 24 | $1.4B | $401.1M | ||
| Q2 24 | $1.6B | $419.0M | ||
| Q1 24 | $1.5B | $387.7M |
净利润CFRYAM
| Q4 25 | $495.0M | $-21.1M | ||
| Q3 25 | $460.0M | $-4.5M | ||
| Q2 25 | $492.0M | $-363.2M | ||
| Q1 25 | $351.0M | $-32.0M | ||
| Q4 24 | $392.0M | $-16.0M | ||
| Q3 24 | $341.0M | $-32.6M | ||
| Q2 24 | $506.0M | $11.4M | ||
| Q1 24 | $238.0M | $-1.6M |
毛利率CFRYAM
| Q4 25 | 40.9% | 8.9% | ||
| Q3 25 | 38.1% | 9.7% | ||
| Q2 25 | 39.9% | 7.0% | ||
| Q1 25 | 34.4% | 6.8% | ||
| Q4 24 | 34.4% | 8.7% | ||
| Q3 24 | 32.4% | 10.9% | ||
| Q2 24 | 43.2% | 11.5% | ||
| Q1 24 | 27.8% | 9.5% |
营业利润率CFRYAM
| Q4 25 | 33.0% | 2.6% | ||
| Q3 25 | 35.0% | 2.8% | ||
| Q2 25 | 34.3% | -0.4% | ||
| Q1 25 | 27.4% | -4.2% | ||
| Q4 24 | 28.9% | 2.6% | ||
| Q3 24 | 26.6% | -4.2% | ||
| Q2 24 | 40.6% | 6.7% | ||
| Q1 24 | 20.6% | 4.4% |
净利率CFRYAM
| Q4 25 | 26.4% | -5.0% | ||
| Q3 25 | 27.7% | -1.3% | ||
| Q2 25 | 26.0% | -106.8% | ||
| Q1 25 | 21.1% | -9.0% | ||
| Q4 24 | 25.7% | -3.8% | ||
| Q3 24 | 24.9% | -8.1% | ||
| Q2 24 | 32.2% | 2.7% | ||
| Q1 24 | 16.2% | -0.4% |
每股收益（稀释后）CFRYAM
| Q4 25 | $2.56 | $-0.33 | ||
| Q3 25 | $2.19 | $-0.07 | ||
| Q2 25 | $2.37 | $-5.44 | ||
| Q1 25 | $1.85 | $-0.49 | ||
| Q4 24 | $1.86 | $-0.25 | ||
| Q3 24 | $1.55 | $-0.49 | ||
| Q2 24 | $2.30 | $0.17 | ||
| Q1 24 | $1.03 | $-0.02 |
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 | — | $75.4M |
| 总债务越低越好 | $3.2B | $758.1M |
| 股东权益账面价值 | $4.8B | $316.6M |
| 总资产 | $14.1B | $1.8B |
| 负债/权益比越低杠杆越低 | 0.66× | 2.39× |
8季度趋势，按日历期对齐
现金及短期投资CFRYAM
| Q4 25 | — | $75.4M | ||
| Q3 25 | — | $77.0M | ||
| Q2 25 | — | $70.7M | ||
| Q1 25 | — | $129.9M | ||
| Q4 24 | — | $125.2M | ||
| Q3 24 | — | $136.1M | ||
| Q2 24 | — | $114.1M | ||
| Q1 24 | — | $54.6M |
总债务CFRYAM
| Q4 25 | $3.2B | $758.1M | ||
| Q3 25 | $3.0B | $763.5M | ||
| Q2 25 | $3.0B | $720.4M | ||
| Q1 25 | $3.0B | $707.0M | ||
| Q4 24 | $3.0B | $706.4M | ||
| Q3 24 | $3.0B | $747.7M | ||
| Q2 24 | $3.0B | $752.8M | ||
| Q1 24 | $3.0B | $755.6M |
股东权益CFRYAM
| Q4 25 | $4.8B | $316.6M | ||
| Q3 25 | $4.8B | $338.2M | ||
| Q2 25 | $5.0B | $342.3M | ||
| Q1 25 | $4.8B | $688.1M | ||
| Q4 24 | $5.0B | $713.9M | ||
| Q3 24 | $5.2B | $732.7M | ||
| Q2 24 | $5.5B | $755.1M | ||
| Q1 24 | $5.4B | $741.8M |
总资产CFRYAM
| Q4 25 | $14.1B | $1.8B | ||
| Q3 25 | $14.2B | $1.8B | ||
| Q2 25 | $13.8B | $1.8B | ||
| Q1 25 | $13.3B | $2.1B | ||
| Q4 24 | $13.5B | $2.1B | ||
| Q3 24 | $13.8B | $2.2B | ||
| Q2 24 | $13.8B | $2.2B | ||
| Q1 24 | $13.9B | $2.1B |
负债/权益比CFRYAM
| Q4 25 | 0.66× | 2.39× | ||
| Q3 25 | 0.61× | 2.26× | ||
| Q2 25 | 0.60× | 2.10× | ||
| Q1 25 | 0.62× | 1.03× | ||
| Q4 24 | 0.60× | 0.99× | ||
| Q3 24 | 0.57× | 1.02× | ||
| Q2 24 | 0.54× | 1.00× | ||
| Q1 24 | 0.55× | 1.02× |
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 | $32.3M |
| 自由现金流经营现金流 - 资本支出 | $313.0M | — |
| 自由现金流率自由现金流/营收 | 16.7% | — |
| 资本支出强度资本支出/营收 | 12.1% | — |
| 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 | — |
8季度趋势，按日历期对齐
经营现金流CFRYAM
| Q4 25 | $539.0M | $32.3M | ||
| Q3 25 | $1.1B | $-17.8M | ||
| Q2 25 | $563.0M | $-30.2M | ||
| Q1 25 | $586.0M | $39.6M | ||
| Q4 24 | $420.0M | $54.9M | ||
| Q3 24 | $931.0M | $49.8M | ||
| Q2 24 | $475.0M | $87.6M | ||
| Q1 24 | $445.0M | $11.3M |
自由现金流CFRYAM
| Q4 25 | $313.0M | — | ||
| Q3 25 | $717.0M | — | ||
| Q2 25 | $318.0M | — | ||
| Q1 25 | $454.0M | — | ||
| Q4 24 | $223.0M | — | ||
| Q3 24 | $792.0M | — | ||
| Q2 24 | $391.0M | — | ||
| Q1 24 | $347.0M | — |
自由现金流率CFRYAM
| Q4 25 | 16.7% | — | ||
| Q3 25 | 43.2% | — | ||
| Q2 25 | 16.8% | — | ||
| Q1 25 | 27.3% | — | ||
| Q4 24 | 14.6% | — | ||
| Q3 24 | 57.8% | — | ||
| Q2 24 | 24.9% | — | ||
| Q1 24 | 23.6% | — |
资本支出强度CFRYAM
| Q4 25 | 12.1% | — | ||
| Q3 25 | 20.9% | — | ||
| Q2 25 | 13.0% | — | ||
| Q1 25 | 7.9% | — | ||
| Q4 24 | 12.9% | — | ||
| Q3 24 | 10.1% | — | ||
| Q2 24 | 5.3% | — | ||
| Q1 24 | 6.7% | — |
现金转化率CFRYAM
| 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× | 7.69× | ||
| 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% |
RYAM
| Cellulose Specialties | $249.6M | 60% |
| Other | $86.2M | 21% |
| Paperboard | $44.2M | 11% |
| High Yield Pulp | $28.3M | 7% |
| Biomaterials | $9.2M | 2% |
