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CF Industries（CF）与Sprouts Farmers Market, Inc.（SFM）财务数据对比。点击上方公司名可切换其他公司
Sprouts Farmers Market, Inc.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 4.2%，领先22.3%），CF Industries同比增速更快（22.8% vs 7.6%），CF Industries自由现金流更多（$313.0M vs $66.3M），过去两年CF Industries的营收复合增速更高（12.8% vs 6.8%）
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。
Sprouts Farmers Market是总部位于美国亚利桑那州凤凰城的连锁超市品牌，主营天然有机食品，涵盖新鲜果蔬、散装食品、包装杂货、肉禽海鲜、熟食烘焙、乳制品、冷冻食品等品类，同时售有维生素补剂、天然个护及家居用品，目前在全美24个州开设超400家门店，员工约3.5万名。
CF vs SFM — 直观对比
营收规模更大
SFM
是对方的1.1倍
$1.9B
营收增速更快
CF
高出15.2%
7.6%
净利率更高
CF
高出22.3%
4.2%
自由现金流更多
CF
多$246.7M
$66.3M
两年增速更快
CF
近两年复合增速
6.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $2.1B |
| 净利润 | $495.0M | $89.8M |
| 毛利率 | 40.9% | 38.0% |
| 营业利润率 | 33.0% | 5.7% |
| 净利率 | 26.4% | 4.2% |
| 营收同比 | 22.8% | 7.6% |
| 净利润同比 | 26.3% | 12.8% |
| 每股收益（稀释后） | $2.56 | $0.93 |
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CFSFM
| Q4 25 | $1.9B | $2.1B | ||
| Q3 25 | $1.7B | $2.2B | ||
| Q2 25 | $1.9B | $2.2B | ||
| Q1 25 | $1.7B | $2.2B | ||
| Q4 24 | $1.5B | $2.0B | ||
| Q3 24 | $1.4B | $1.9B | ||
| Q2 24 | $1.6B | $1.9B | ||
| Q1 24 | $1.5B | $1.9B |
净利润CFSFM
| Q4 25 | $495.0M | $89.8M | ||
| Q3 25 | $460.0M | $120.1M | ||
| Q2 25 | $492.0M | $133.7M | ||
| Q1 25 | $351.0M | $180.0M | ||
| Q4 24 | $392.0M | $79.6M | ||
| Q3 24 | $341.0M | $91.6M | ||
| Q2 24 | $506.0M | $95.3M | ||
| Q1 24 | $238.0M | $114.1M |
毛利率CFSFM
| Q4 25 | 40.9% | 38.0% | ||
| Q3 25 | 38.1% | 38.7% | ||
| Q2 25 | 39.9% | 38.8% | ||
| Q1 25 | 34.4% | 39.6% | ||
| Q4 24 | 34.4% | 38.1% | ||
| Q3 24 | 32.4% | 38.1% | ||
| Q2 24 | 43.2% | 37.9% | ||
| Q1 24 | 27.8% | 38.3% |
营业利润率CFSFM
| Q4 25 | 33.0% | 5.7% | ||
| Q3 25 | 35.0% | 7.2% | ||
| Q2 25 | 34.3% | 8.1% | ||
| Q1 25 | 27.4% | 10.1% | ||
| Q4 24 | 28.9% | 5.3% | ||
| Q3 24 | 26.6% | 6.3% | ||
| Q2 24 | 40.6% | 6.7% | ||
| Q1 24 | 20.6% | 7.9% |
净利率CFSFM
| Q4 25 | 26.4% | 4.2% | ||
| Q3 25 | 27.7% | 5.5% | ||
| Q2 25 | 26.0% | 6.0% | ||
| Q1 25 | 21.1% | 8.0% | ||
| Q4 24 | 25.7% | 4.0% | ||
| Q3 24 | 24.9% | 4.7% | ||
| Q2 24 | 32.2% | 5.0% | ||
| Q1 24 | 16.2% | 6.1% |
每股收益（稀释后）CFSFM
| Q4 25 | $2.56 | $0.93 | ||
| Q3 25 | $2.19 | $1.22 | ||
| Q2 25 | $2.37 | $1.35 | ||
| Q1 25 | $1.85 | $1.81 | ||
| Q4 24 | $1.86 | $0.78 | ||
| Q3 24 | $1.55 | $0.91 | ||
| Q2 24 | $2.30 | $0.94 | ||
| Q1 24 | $1.03 | $1.12 |
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 | — | $257.3M |
| 总债务越低越好 | $3.2B | — |
| 股东权益账面价值 | $4.8B | $1.4B |
| 总资产 | $14.1B | $4.2B |
| 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CFSFM
| Q4 25 | — | $257.3M | ||
| Q3 25 | — | $322.4M | ||
| Q2 25 | — | $261.4M | ||
| Q1 25 | — | $285.7M | ||
| Q4 24 | — | $265.2M | ||
| Q3 24 | — | $309.7M | ||
| Q2 24 | — | $177.3M | ||
| Q1 24 | — | $312.3M |
总债务CFSFM
| 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CFSFM
| Q4 25 | $4.8B | $1.4B | ||
| Q3 25 | $4.8B | $1.4B | ||
| Q2 25 | $5.0B | $1.4B | ||
| Q1 25 | $4.8B | $1.3B | ||
| Q4 24 | $5.0B | $1.3B | ||
| Q3 24 | $5.2B | $1.3B | ||
| Q2 24 | $5.5B | $1.3B | ||
| Q1 24 | $5.4B | $1.2B |
总资产CFSFM
| Q4 25 | $14.1B | $4.2B | ||
| Q3 25 | $14.2B | $4.0B | ||
| Q2 25 | $13.8B | $3.8B | ||
| Q1 25 | $13.3B | $3.7B | ||
| Q4 24 | $13.5B | $3.6B | ||
| Q3 24 | $13.8B | $3.6B | ||
| Q2 24 | $13.8B | $3.4B | ||
| Q1 24 | $13.9B | $3.5B |
负债/权益比CFSFM
| 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 | $138.5M |
| 自由现金流经营现金流 - 资本支出 | $313.0M | $66.3M |
| 自由现金流率自由现金流/营收 | 16.7% | 3.1% |
| 资本支出强度资本支出/营收 | 12.1% | 3.4% |
| 现金转化率经营现金流/净利润 | 1.09× | 1.54× |
| 过去12个月自由现金流最近4个季度 | $1.8B | $467.7M |
8季度趋势，按日历期对齐
经营现金流CFSFM
| Q4 25 | $539.0M | $138.5M | ||
| Q3 25 | $1.1B | $167.1M | ||
| Q2 25 | $563.0M | $111.2M | ||
| Q1 25 | $586.0M | $299.1M | ||
| Q4 24 | $420.0M | $124.9M | ||
| Q3 24 | $931.0M | $209.1M | ||
| Q2 24 | $475.0M | $91.6M | ||
| Q1 24 | $445.0M | $219.7M |
自由现金流CFSFM
| Q4 25 | $313.0M | $66.3M | ||
| Q3 25 | $717.0M | $111.4M | ||
| Q2 25 | $318.0M | $50.4M | ||
| Q1 25 | $454.0M | $239.6M | ||
| Q4 24 | $223.0M | $56.2M | ||
| Q3 24 | $792.0M | $156.3M | ||
| Q2 24 | $391.0M | $33.9M | ||
| Q1 24 | $347.0M | $168.5M |
自由现金流率CFSFM
| Q4 25 | 16.7% | 3.1% | ||
| Q3 25 | 43.2% | 5.1% | ||
| Q2 25 | 16.8% | 2.3% | ||
| Q1 25 | 27.3% | 10.7% | ||
| Q4 24 | 14.6% | 2.8% | ||
| Q3 24 | 57.8% | 8.0% | ||
| Q2 24 | 24.9% | 1.8% | ||
| Q1 24 | 23.6% | 8.9% |
资本支出强度CFSFM
| Q4 25 | 12.1% | 3.4% | ||
| Q3 25 | 20.9% | 2.5% | ||
| Q2 25 | 13.0% | 2.7% | ||
| Q1 25 | 7.9% | 2.7% | ||
| Q4 24 | 12.9% | 3.4% | ||
| Q3 24 | 10.1% | 2.7% | ||
| Q2 24 | 5.3% | 3.0% | ||
| Q1 24 | 6.7% | 2.7% |
现金转化率CFSFM
| Q4 25 | 1.09× | 1.54× | ||
| Q3 25 | 2.31× | 1.39× | ||
| Q2 25 | 1.14× | 0.83× | ||
| Q1 25 | 1.67× | 1.66× | ||
| Q4 24 | 1.07× | 1.57× | ||
| Q3 24 | 2.73× | 2.28× | ||
| Q2 24 | 0.94× | 0.96× | ||
| Q1 24 | 1.87× | 1.93× |
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% |
SFM
| Perishables | $1.2B | 56% |
| Non Perishables | $935.4M | 44% |
