vs
CF Industries（CF）与SMITH MIDLAND CORP（SMID）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SMITH MIDLAND CORP的81.0倍（$1.9B vs $23.1M）。CF Industries净利率更高（26.4% vs 9.2%，领先17.2%）。SMITH MIDLAND CORP同比增速更快（24.7% vs 22.8%）。过去两年SMITH MIDLAND CORP的营收复合增速更高（17.4% 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。
Smith Midland Corp是一家预制混凝土产品专业制造商，核心产品线包括公路安全护栏、隔音墙、建筑预制面板及雨水管理系统，主要服务北美市场，为各类基建、商用、住宅及工业建筑项目提供耐用可持续的建筑解决方案。
CF vs SMID — 直观对比
营收规模更大
CF
是对方的81.0倍
$23.1M
营收增速更快
SMID
高出1.9%
22.8%
净利率更高
CF
高出17.2%
9.2%
两年增速更快
SMID
近两年复合增速
12.8%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $23.1M |
| 净利润 | $495.0M | $2.1M |
| 毛利率 | 40.9% | 57.5% |
| 营业利润率 | 33.0% | 37.8% |
| 净利率 | 26.4% | 9.2% |
| 营收同比 | 22.8% | 24.7% |
| 净利润同比 | 26.3% | 52.5% |
| 每股收益（稀释后） | $2.56 | $0.41 |
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CFSMID
| Q4 25 | $1.9B | $23.1M | ||
| Q3 25 | $1.7B | $21.5M | ||
| Q2 25 | $1.9B | $26.2M | ||
| Q1 25 | $1.7B | $22.7M | ||
| Q4 24 | $1.5B | $18.5M | ||
| Q3 24 | $1.4B | $23.6M | ||
| Q2 24 | $1.6B | $19.6M | ||
| Q1 24 | $1.5B | $16.8M |
净利润CFSMID
| Q4 25 | $495.0M | $2.1M | ||
| Q3 25 | $460.0M | $2.9M | ||
| Q2 25 | $492.0M | $4.2M | ||
| Q1 25 | $351.0M | $3.3M | ||
| Q4 24 | $392.0M | $1.4M | ||
| Q3 24 | $341.0M | $3.1M | ||
| Q2 24 | $506.0M | $2.0M | ||
| Q1 24 | $238.0M | $1.1M |
毛利率CFSMID
| Q4 25 | 40.9% | 57.5% | ||
| Q3 25 | 38.1% | 26.8% | ||
| Q2 25 | 39.9% | 0.0% | ||
| Q1 25 | 34.4% | 30.7% | ||
| Q4 24 | 34.4% | 51.4% | ||
| Q3 24 | 32.4% | 27.9% | ||
| Q2 24 | 43.2% | 0.0% | ||
| Q1 24 | 27.8% | 23.3% |
营业利润率CFSMID
| Q4 25 | 33.0% | 37.8% | ||
| Q3 25 | 35.0% | 18.0% | ||
| Q2 25 | 34.3% | 0.0% | ||
| Q1 25 | 27.4% | 19.3% | ||
| Q4 24 | 28.9% | 24.5% | ||
| Q3 24 | 26.6% | 16.3% | ||
| Q2 24 | 40.6% | 0.0% | ||
| Q1 24 | 20.6% | 9.0% |
净利率CFSMID
| Q4 25 | 26.4% | 9.2% | ||
| Q3 25 | 27.7% | 13.4% | ||
| Q2 25 | 26.0% | 15.9% | ||
| Q1 25 | 21.1% | 14.7% | ||
| Q4 24 | 25.7% | 7.5% | ||
| Q3 24 | 24.9% | 13.4% | ||
| Q2 24 | 32.2% | 10.1% | ||
| Q1 24 | 16.2% | 6.8% |
每股收益（稀释后）CFSMID
| Q4 25 | $2.56 | $0.41 | ||
| Q3 25 | $2.19 | $0.54 | ||
| Q2 25 | $2.37 | $0.79 | ||
| Q1 25 | $1.85 | $0.62 | ||
| Q4 24 | $1.86 | $0.28 | ||
| Q3 24 | $1.55 | $0.59 | ||
| Q2 24 | $2.30 | $0.37 | ||
| Q1 24 | $1.03 | $0.21 |
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 | $4.8B | $54.3M |
| 总资产 | $14.1B | $87.7M |
| 负债/权益比越低杠杆越低 | 0.66× | — |
8季度趋势，按日历期对齐
总债务CFSMID
| 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CFSMID
| Q4 25 | $4.8B | $54.3M | ||
| Q3 25 | $4.8B | $52.1M | ||
| Q2 25 | $5.0B | $49.2M | ||
| Q1 25 | $4.8B | $45.1M | ||
| Q4 24 | $5.0B | $41.7M | ||
| Q3 24 | $5.2B | $40.3M | ||
| Q2 24 | $5.5B | $37.2M | ||
| Q1 24 | $5.4B | $35.3M |
总资产CFSMID
| Q4 25 | $14.1B | $87.7M | ||
| Q3 25 | $14.2B | $85.4M | ||
| Q2 25 | $13.8B | $81.2K | ||
| Q1 25 | $13.3B | $74.7M | ||
| Q4 24 | $13.5B | $68.0M | ||
| Q3 24 | $13.8B | $66.6M | ||
| Q2 24 | $13.8B | $64.0M | ||
| Q1 24 | $13.9B | $64.9M |
负债/权益比CFSMID
| 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 | — |
| 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CFSMID
| Q4 25 | $539.0M | — | ||
| Q3 25 | $1.1B | $11.7M | ||
| Q2 25 | $563.0M | — | ||
| Q1 25 | $586.0M | $2.2M | ||
| Q4 24 | $420.0M | $-645.0K | ||
| Q3 24 | $931.0M | $3.9M | ||
| Q2 24 | $475.0M | $2.7M | ||
| Q1 24 | $445.0M | $-777.0K |
自由现金流CFSMID
| Q4 25 | $313.0M | — | ||
| Q3 25 | $717.0M | $6.3M | ||
| Q2 25 | $318.0M | — | ||
| Q1 25 | $454.0M | $1.6M | ||
| Q4 24 | $223.0M | $-1.3M | ||
| Q3 24 | $792.0M | $1.8M | ||
| Q2 24 | $391.0M | $998.0K | ||
| Q1 24 | $347.0M | $-2.6M |
自由现金流率CFSMID
| Q4 25 | 16.7% | — | ||
| Q3 25 | 43.2% | 29.5% | ||
| Q2 25 | 16.8% | — | ||
| Q1 25 | 27.3% | 7.1% | ||
| Q4 24 | 14.6% | -7.0% | ||
| Q3 24 | 57.8% | 7.8% | ||
| Q2 24 | 24.9% | 5.1% | ||
| Q1 24 | 23.6% | -15.3% |
资本支出强度CFSMID
| Q4 25 | 12.1% | — | ||
| Q3 25 | 20.9% | 25.1% | ||
| Q2 25 | 13.0% | — | ||
| Q1 25 | 7.9% | 2.6% | ||
| Q4 24 | 12.9% | 3.6% | ||
| Q3 24 | 10.1% | 8.6% | ||
| Q2 24 | 5.3% | 8.7% | ||
| Q1 24 | 6.7% | 10.7% |
现金转化率CFSMID
| Q4 25 | 1.09× | — | ||
| Q3 25 | 2.31× | 4.07× | ||
| Q2 25 | 1.14× | — | ||
| Q1 25 | 1.67× | 0.67× | ||
| Q4 24 | 1.07× | -0.46× | ||
| Q3 24 | 2.73× | 1.23× | ||
| Q2 24 | 0.94× | 1.37× | ||
| Q1 24 | 1.87× | -0.68× |
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% |
SMID
| Product Sales | $13.8M | 60% |
| Service Revenue | $9.3M | 40% |
