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CF Industries（CF）与SONOCO PRODUCTS CO（SON）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SONOCO PRODUCTS CO的1.1倍（$1.9B vs $1.7B）。CF Industries净利率更高（26.4% vs 4.1%，领先22.4%）。CF Industries同比增速更快（22.8% vs -1.9%）。CF Industries自由现金流更多（$313.0M vs $-428.3B）。过去两年CF Industries的营收复合增速更高（12.8% vs 1.6%）
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。
索诺科产品公司是美国多元化包装服务商，主营消费包装、工业产品、防护包装及包装供应链服务，是全球最大的复合罐、纸管和纸芯生产商。公司成立于1889年，年净销售额约73亿美元，在33个国家设有超335个运营点，员工1.99万名，业务覆盖超85个国家，总部位于南卡罗来纳州哈茨维尔。
CF vs SON — 直观对比
营收规模更大
CF
是对方的1.1倍
$1.7B
营收增速更快
CF
高出24.8%
-1.9%
净利率更高
CF
高出22.4%
4.1%
自由现金流更多
CF
多$428.6B
$-428.3B
两年增速更快
CF
近两年复合增速
1.6%
损益表 — Q4 2025 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $1.7B |
| 净利润 | $495.0M | $68.0M |
| 毛利率 | 40.9% | 20.6% |
| 营业利润率 | 33.0% | 7.6% |
| 净利率 | 26.4% | 4.1% |
| 营收同比 | 22.8% | -1.9% |
| 净利润同比 | 26.3% | 25.9% |
| 每股收益（稀释后） | $2.56 | $0.68 |
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CFSON
| Q1 26 | — | $1.7B | ||
| Q4 25 | $1.9B | $1.8B | ||
| Q3 25 | $1.7B | $2.1B | ||
| Q2 25 | $1.9B | $1.9B | ||
| Q1 25 | $1.7B | $1.7B | ||
| Q4 24 | $1.5B | $64.2M | ||
| Q3 24 | $1.4B | $1.7B | ||
| Q2 24 | $1.6B | $1.6B |
净利润CFSON
| Q1 26 | — | $68.0M | ||
| Q4 25 | $495.0M | $332.2M | ||
| Q3 25 | $460.0M | $122.9M | ||
| Q2 25 | $492.0M | $493.4M | ||
| Q1 25 | $351.0M | $54.4M | ||
| Q4 24 | $392.0M | $-43.0M | ||
| Q3 24 | $341.0M | $50.9M | ||
| Q2 24 | $506.0M | $90.8M |
毛利率CFSON
| Q1 26 | — | 20.6% | ||
| Q4 25 | 40.9% | 19.6% | ||
| Q3 25 | 38.1% | 21.9% | ||
| Q2 25 | 39.9% | 21.3% | ||
| Q1 25 | 34.4% | 20.7% | ||
| Q4 24 | 34.4% | — | ||
| Q3 24 | 32.4% | 21.4% | ||
| Q2 24 | 43.2% | 22.0% |
营业利润率CFSON
| Q1 26 | — | 7.6% | ||
| Q4 25 | 33.0% | 29.4% | ||
| Q3 25 | 35.0% | 9.1% | ||
| Q2 25 | 34.3% | 9.2% | ||
| Q1 25 | 27.4% | 7.4% | ||
| Q4 24 | 28.9% | -84.8% | ||
| Q3 24 | 26.6% | 7.6% | ||
| Q2 24 | 40.6% | 8.6% |
净利率CFSON
| Q1 26 | — | 4.1% | ||
| Q4 25 | 26.4% | 18.8% | ||
| Q3 25 | 27.7% | 5.8% | ||
| Q2 25 | 26.0% | 25.8% | ||
| Q1 25 | 21.1% | 3.2% | ||
| Q4 24 | 25.7% | -67.0% | ||
| Q3 24 | 24.9% | 3.0% | ||
| Q2 24 | 32.2% | 5.6% |
每股收益（稀释后）CFSON
| Q1 26 | — | $0.68 | ||
| Q4 25 | $2.56 | $3.33 | ||
| Q3 25 | $2.19 | $1.23 | ||
| Q2 25 | $2.37 | $4.96 | ||
| Q1 25 | $1.85 | $0.55 | ||
| Q4 24 | $1.86 | $-0.44 | ||
| Q3 24 | $1.55 | $0.51 | ||
| Q2 24 | $2.30 | $0.92 |
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 | — | $224.5M |
| 总债务越低越好 | $3.2B | $3.5B |
| 股东权益账面价值 | $4.8B | $3.6B |
| 总资产 | $14.1B | $11.1B |
| 负债/权益比越低杠杆越低 | 0.66× | 0.97× |
8季度趋势，按日历期对齐
现金及短期投资CFSON
| Q1 26 | — | $224.5M | ||
| Q4 25 | — | $378.4M | ||
| Q3 25 | — | $244.9M | ||
| Q2 25 | — | $329.8M | ||
| Q1 25 | — | $181.8M | ||
| Q4 24 | — | $431.0M | ||
| Q3 24 | — | $1.9B | ||
| Q2 24 | — | $140.2M |
总债务CFSON
| Q1 26 | — | $3.5B | ||
| Q4 25 | $3.2B | $3.8B | ||
| Q3 25 | $3.0B | $3.8B | ||
| Q2 25 | $3.0B | $5.0B | ||
| Q1 25 | $3.0B | $5.0B | ||
| Q4 24 | $3.0B | $5.0B | ||
| Q3 24 | $3.0B | $4.3B | ||
| Q2 24 | $3.0B | $2.5B |
股东权益CFSON
| Q1 26 | — | $3.6B | ||
| Q4 25 | $4.8B | $3.6B | ||
| Q3 25 | $4.8B | $3.3B | ||
| Q2 25 | $5.0B | $3.2B | ||
| Q1 25 | $4.8B | $2.4B | ||
| Q4 24 | $5.0B | $2.3B | ||
| Q3 24 | $5.2B | $2.5B | ||
| Q2 24 | $5.5B | $2.4B |
总资产CFSON
| Q1 26 | — | $11.1B | ||
| Q4 25 | $14.1B | $11.2B | ||
| Q3 25 | $14.2B | $11.7B | ||
| Q2 25 | $13.8B | $12.0B | ||
| Q1 25 | $13.3B | $12.7B | ||
| Q4 24 | $13.5B | $12.5B | ||
| Q3 24 | $13.8B | $9.0B | ||
| Q2 24 | $13.8B | $7.2B |
负债/权益比CFSON
| Q1 26 | — | 0.97× | ||
| Q4 25 | 0.66× | 1.05× | ||
| Q3 25 | 0.61× | 1.15× | ||
| Q2 25 | 0.60× | 1.54× | ||
| Q1 25 | 0.62× | 2.03× | ||
| Q4 24 | 0.60× | 2.19× | ||
| Q3 24 | 0.57× | 1.74× | ||
| Q2 24 | 0.54× | 1.04× |
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 | $-428.3B |
| 自由现金流率自由现金流/营收 | 16.7% | -25547.4% |
| 资本支出强度资本支出/营收 | 12.1% | 3600.5% |
| 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 | $-427.6B |
8季度趋势，按日历期对齐
经营现金流CFSON
| Q1 26 | — | — | ||
| Q4 25 | $539.0M | $412.9M | ||
| Q3 25 | $1.1B | $291.5M | ||
| Q2 25 | $563.0M | $193.4M | ||
| Q1 25 | $586.0M | $-208.1M | ||
| Q4 24 | $420.0M | $396.2M | ||
| Q3 24 | $931.0M | $162.1M | ||
| Q2 24 | $475.0M | $109.3M |
自由现金流CFSON
| Q1 26 | — | $-428.3B | ||
| Q4 25 | $313.0M | $322.3M | ||
| Q3 25 | $717.0M | $225.6M | ||
| Q2 25 | $318.0M | $98.6M | ||
| Q1 25 | $454.0M | $-300.8M | ||
| Q4 24 | $223.0M | $274.3M | ||
| Q3 24 | $792.0M | $70.5M | ||
| Q2 24 | $391.0M | $16.0M |
自由现金流率CFSON
| Q1 26 | — | -25547.4% | ||
| Q4 25 | 16.7% | 18.2% | ||
| Q3 25 | 43.2% | 10.6% | ||
| Q2 25 | 16.8% | 5.2% | ||
| Q1 25 | 27.3% | -17.6% | ||
| Q4 24 | 14.6% | 427.6% | ||
| Q3 24 | 57.8% | 4.2% | ||
| Q2 24 | 24.9% | 1.0% |
资本支出强度CFSON
| Q1 26 | — | 3600.5% | ||
| Q4 25 | 12.1% | 5.1% | ||
| Q3 25 | 20.9% | 3.1% | ||
| Q2 25 | 13.0% | 5.0% | ||
| Q1 25 | 7.9% | 5.4% | ||
| Q4 24 | 12.9% | 190.0% | ||
| Q3 24 | 10.1% | 5.5% | ||
| Q2 24 | 5.3% | 5.7% |
现金转化率CFSON
| Q1 26 | — | — | ||
| Q4 25 | 1.09× | 1.24× | ||
| Q3 25 | 2.31× | 2.37× | ||
| Q2 25 | 1.14× | 0.39× | ||
| Q1 25 | 1.67× | -3.82× | ||
| Q4 24 | 1.07× | — | ||
| Q3 24 | 2.73× | 3.18× | ||
| Q2 24 | 0.94× | 1.20× |
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% |
SON
| Consumer Packaging | $1.1B | 65% |
| Industrial Paper Packaging | $587.5M | 35% |
| All Other | $55.1M | 3% |
