vs
CF Industries（CF）与TREX CO INC（TREX）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TREX CO INC的11.6倍（$1.9B vs $161.1M）。CF Industries净利率更高（26.4% vs 1.4%，领先25.0%）。CF Industries同比增速更快（22.8% vs -3.9%）。CF Industries自由现金流更多（$313.0M vs $22.1M）。过去两年CF Industries的营收复合增速更高（12.8% vs -34.3%）
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。
Trex公司是木塑复合替代板材、住宅护栏及其他户外用品的制造商，产品采用回收材料生产，总部位于美国弗吉尼亚州温彻斯特，是户外家居建材领域的知名企业，主打环保耐用的户外搭建解决方案。
CF vs TREX — 直观对比
营收规模更大
CF
是对方的11.6倍
$161.1M
营收增速更快
CF
高出26.7%
-3.9%
净利率更高
CF
高出25.0%
1.4%
自由现金流更多
CF
多$290.9M
$22.1M
两年增速更快
CF
近两年复合增速
-34.3%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $161.1M |
| 净利润 | $495.0M | $2.3M |
| 毛利率 | 40.9% | 30.2% |
| 营业利润率 | 33.0% | 2.2% |
| 净利率 | 26.4% | 1.4% |
| 营收同比 | 22.8% | -3.9% |
| 净利润同比 | 26.3% | -76.4% |
| 每股收益（稀释后） | $2.56 | $0.03 |
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CFTREX
| Q4 25 | $1.9B | $161.1M | ||
| Q3 25 | $1.7B | $285.3M | ||
| Q2 25 | $1.9B | $387.8M | ||
| Q1 25 | $1.7B | $340.0M | ||
| Q4 24 | $1.5B | $167.6M | ||
| Q3 24 | $1.4B | $233.7M | ||
| Q2 24 | $1.6B | $376.5M | ||
| Q1 24 | $1.5B | $373.6M |
净利润CFTREX
| Q4 25 | $495.0M | $2.3M | ||
| Q3 25 | $460.0M | $51.8M | ||
| Q2 25 | $492.0M | $75.9M | ||
| Q1 25 | $351.0M | $60.4M | ||
| Q4 24 | $392.0M | $9.8M | ||
| Q3 24 | $341.0M | $40.6M | ||
| Q2 24 | $506.0M | $87.0M | ||
| Q1 24 | $238.0M | $89.1M |
毛利率CFTREX
| Q4 25 | 40.9% | 30.2% | ||
| Q3 25 | 38.1% | 40.5% | ||
| Q2 25 | 39.9% | 40.8% | ||
| Q1 25 | 34.4% | 40.5% | ||
| Q4 24 | 34.4% | 32.7% | ||
| Q3 24 | 32.4% | 39.9% | ||
| Q2 24 | 43.2% | 44.7% | ||
| Q1 24 | 27.8% | 45.4% |
营业利润率CFTREX
| Q4 25 | 33.0% | 2.2% | ||
| Q3 25 | 35.0% | 24.7% | ||
| Q2 25 | 34.3% | 26.4% | ||
| Q1 25 | 27.4% | 24.0% | ||
| Q4 24 | 28.9% | 9.2% | ||
| Q3 24 | 26.6% | 23.2% | ||
| Q2 24 | 40.6% | 31.1% | ||
| Q1 24 | 20.6% | 31.9% |
净利率CFTREX
| Q4 25 | 26.4% | 1.4% | ||
| Q3 25 | 27.7% | 18.1% | ||
| Q2 25 | 26.0% | 19.6% | ||
| Q1 25 | 21.1% | 17.8% | ||
| Q4 24 | 25.7% | 5.8% | ||
| Q3 24 | 24.9% | 17.4% | ||
| Q2 24 | 32.2% | 23.1% | ||
| Q1 24 | 16.2% | 23.8% |
每股收益（稀释后）CFTREX
| Q4 25 | $2.56 | $0.03 | ||
| Q3 25 | $2.19 | $0.48 | ||
| Q2 25 | $2.37 | $0.71 | ||
| Q1 25 | $1.85 | $0.56 | ||
| Q4 24 | $1.86 | $0.10 | ||
| Q3 24 | $1.55 | $0.37 | ||
| Q2 24 | $2.30 | $0.80 | ||
| Q1 24 | $1.03 | $0.82 |
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 | — | $3.8M |
| 总债务越低越好 | $3.2B | — |
| 股东权益账面价值 | $4.8B | $1.0B |
| 总资产 | $14.1B | $1.5B |
| 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CFTREX
| Q4 25 | — | $3.8M | ||
| Q3 25 | — | $11.4M | ||
| Q2 25 | — | $5.5M | ||
| Q1 25 | — | $5.0M | ||
| Q4 24 | — | $1.3M | ||
| Q3 24 | — | $12.8M | ||
| Q2 24 | — | $1.2M | ||
| Q1 24 | — | $3.1M |
总债务CFTREX
| 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CFTREX
| Q4 25 | $4.8B | $1.0B | ||
| Q3 25 | $4.8B | $1.0B | ||
| Q2 25 | $5.0B | $989.3M | ||
| Q1 25 | $4.8B | $910.1M | ||
| Q4 24 | $5.0B | $850.1M | ||
| Q3 24 | $5.2B | $887.9M | ||
| Q2 24 | $5.5B | $894.9M | ||
| Q1 24 | $5.4B | $804.1M |
总资产CFTREX
| Q4 25 | $14.1B | $1.5B | ||
| Q3 25 | $14.2B | $1.5B | ||
| Q2 25 | $13.8B | $1.5B | ||
| Q1 25 | $13.3B | $1.6B | ||
| Q4 24 | $13.5B | $1.3B | ||
| Q3 24 | $13.8B | $1.3B | ||
| Q2 24 | $13.8B | $1.3B | ||
| Q1 24 | $13.9B | $1.3B |
负债/权益比CFTREX
| 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 | $65.5M |
| 自由现金流经营现金流 - 资本支出 | $313.0M | $22.1M |
| 自由现金流率自由现金流/营收 | 16.7% | 13.7% |
| 资本支出强度资本支出/营收 | 12.1% | 26.9% |
| 现金转化率经营现金流/净利润 | 1.09× | 28.45× |
| 过去12个月自由现金流最近4个季度 | $1.8B | $134.5M |
8季度趋势，按日历期对齐
经营现金流CFTREX
| Q4 25 | $539.0M | $65.5M | ||
| Q3 25 | $1.1B | $196.9M | ||
| Q2 25 | $563.0M | $249.8M | ||
| Q1 25 | $586.0M | $-154.0M | ||
| Q4 24 | $420.0M | $-8.5M | ||
| Q3 24 | $931.0M | $132.8M | ||
| Q2 24 | $475.0M | $193.7M | ||
| Q1 24 | $445.0M | $-174.0M |
自由现金流CFTREX
| Q4 25 | $313.0M | $22.1M | ||
| Q3 25 | $717.0M | $142.9M | ||
| Q2 25 | $318.0M | $203.0M | ||
| Q1 25 | $454.0M | $-233.5M | ||
| Q4 24 | $223.0M | $-89.3M | ||
| Q3 24 | $792.0M | $54.5M | ||
| Q2 24 | $391.0M | $158.2M | ||
| Q1 24 | $347.0M | $-211.8M |
自由现金流率CFTREX
| Q4 25 | 16.7% | 13.7% | ||
| Q3 25 | 43.2% | 50.1% | ||
| Q2 25 | 16.8% | 52.3% | ||
| Q1 25 | 27.3% | -68.7% | ||
| Q4 24 | 14.6% | -53.3% | ||
| Q3 24 | 57.8% | 23.3% | ||
| Q2 24 | 24.9% | 42.0% | ||
| Q1 24 | 23.6% | -56.7% |
资本支出强度CFTREX
| Q4 25 | 12.1% | 26.9% | ||
| Q3 25 | 20.9% | 18.9% | ||
| Q2 25 | 13.0% | 12.1% | ||
| Q1 25 | 7.9% | 23.4% | ||
| Q4 24 | 12.9% | 48.2% | ||
| Q3 24 | 10.1% | 33.5% | ||
| Q2 24 | 5.3% | 9.4% | ||
| Q1 24 | 6.7% | 10.1% |
现金转化率CFTREX
| Q4 25 | 1.09× | 28.45× | ||
| Q3 25 | 2.31× | 3.80× | ||
| Q2 25 | 1.14× | 3.29× | ||
| Q1 25 | 1.67× | -2.55× | ||
| Q4 24 | 1.07× | -0.87× | ||
| Q3 24 | 2.73× | 3.27× | ||
| Q2 24 | 0.94× | 2.23× | ||
| Q1 24 | 1.87× | -1.95× |
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% |
TREX
暂无分部数据
