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CF Industries（CF）与天宝（TRMB）财务数据对比。点击上方公司名可切换其他公司
CF Industries的季度营收约是天宝的1.9倍（$1.9B vs $969.8M），CF Industries净利率更高（26.4% vs 16.1%，领先10.3%），CF Industries同比增速更快（22.8% vs -73.7%），天宝自由现金流更多（$360.9M vs $313.0M），过去两年CF Industries的营收复合增速更高（12.8% vs 0.9%）
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。
天宝（Trimble Inc.）是1978年成立的美国科技企业，总部位于科罗拉多州威斯敏斯特，于纳斯达克上市，为标普500成分股。公司面向建筑工程、地理空间测绘、交通物流等多个行业，提供软硬件产品及相关技术服务。
CF vs TRMB — 直观对比
营收规模更大
CF
是对方的1.9倍
$969.8M
营收增速更快
CF
高出96.5%
-73.7%
净利率更高
CF
高出10.3%
16.1%
自由现金流更多
TRMB
多$47.9M
$313.0M
两年增速更快
CF
近两年复合增速
0.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $969.8M |
| 净利润 | $495.0M | $156.6M |
| 毛利率 | 40.9% | 72.0% |
| 营业利润率 | 33.0% | 22.3% |
| 净利率 | 26.4% | 16.1% |
| 营收同比 | 22.8% | -73.7% |
| 净利润同比 | 26.3% | 73.6% |
| 每股收益（稀释后） | $2.56 | $0.65 |
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CFTRMB
| Q4 25 | $1.9B | $901.2M | ||
| Q3 25 | $1.7B | $875.7M | ||
| Q2 25 | $1.9B | $840.6M | ||
| Q1 25 | $1.7B | $983.4M | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | $1.4B | $875.8M | ||
| Q2 24 | $1.6B | $870.8M | ||
| Q1 24 | $1.5B | $953.3M |
净利润CFTRMB
| Q4 25 | $495.0M | $111.5M | ||
| Q3 25 | $460.0M | $89.2M | ||
| Q2 25 | $492.0M | $66.7M | ||
| Q1 25 | $351.0M | $90.2M | ||
| Q4 24 | $392.0M | — | ||
| Q3 24 | $341.0M | $40.6M | ||
| Q2 24 | $506.0M | $1.3B | ||
| Q1 24 | $238.0M | $57.2M |
毛利率CFTRMB
| Q4 25 | 40.9% | 68.9% | ||
| Q3 25 | 38.1% | 68.3% | ||
| Q2 25 | 39.9% | 66.7% | ||
| Q1 25 | 34.4% | 69.3% | ||
| Q4 24 | 34.4% | — | ||
| Q3 24 | 32.4% | 65.7% | ||
| Q2 24 | 43.2% | 62.7% | ||
| Q1 24 | 27.8% | 62.3% |
营业利润率CFTRMB
| Q4 25 | 33.0% | 16.7% | ||
| Q3 25 | 35.0% | 14.6% | ||
| Q2 25 | 34.3% | 11.6% | ||
| Q1 25 | 27.4% | 17.6% | ||
| Q4 24 | 28.9% | — | ||
| Q3 24 | 26.6% | 13.3% | ||
| Q2 24 | 40.6% | 7.1% | ||
| Q1 24 | 20.6% | 11.5% |
净利率CFTRMB
| Q4 25 | 26.4% | 12.4% | ||
| Q3 25 | 27.7% | 10.2% | ||
| Q2 25 | 26.0% | 7.9% | ||
| Q1 25 | 21.1% | 9.2% | ||
| Q4 24 | 25.7% | — | ||
| Q3 24 | 24.9% | 4.6% | ||
| Q2 24 | 32.2% | 151.2% | ||
| Q1 24 | 16.2% | 6.0% |
每股收益（稀释后）CFTRMB
| Q4 25 | $2.56 | $0.46 | ||
| Q3 25 | $2.19 | $0.37 | ||
| Q2 25 | $2.37 | $0.27 | ||
| Q1 25 | $1.85 | $0.36 | ||
| Q4 24 | $1.86 | — | ||
| Q3 24 | $1.55 | $0.16 | ||
| Q2 24 | $2.30 | $5.34 | ||
| Q1 24 | $1.03 | $0.23 |
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 | — | $253.4M |
| 总债务越低越好 | $3.2B | $1.4B |
| 股东权益账面价值 | $4.8B | $5.8B |
| 总资产 | $14.1B | $9.3B |
| 负债/权益比越低杠杆越低 | 0.66× | 0.24× |
8季度趋势，按日历期对齐
现金及短期投资CFTRMB
| Q4 25 | — | $232.7M | ||
| Q3 25 | — | $265.9M | ||
| Q2 25 | — | $290.0M | ||
| Q1 25 | — | $738.8M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $1.0B | ||
| Q2 24 | — | $944.1M | ||
| Q1 24 | — | $255.1M |
总债务CFTRMB
| Q4 25 | $3.2B | $1.4B | ||
| Q3 25 | $3.0B | — | ||
| Q2 25 | $3.0B | — | ||
| Q1 25 | $3.0B | $1.4B | ||
| Q4 24 | $3.0B | — | ||
| Q3 24 | $3.0B | — | ||
| Q2 24 | $3.0B | — | ||
| Q1 24 | $3.0B | — |
股东权益CFTRMB
| Q4 25 | $4.8B | $5.8B | ||
| Q3 25 | $4.8B | $5.7B | ||
| Q2 25 | $5.0B | $5.4B | ||
| Q1 25 | $4.8B | $5.7B | ||
| Q4 24 | $5.0B | — | ||
| Q3 24 | $5.2B | $5.9B | ||
| Q2 24 | $5.5B | $5.6B | ||
| Q1 24 | $5.4B | $4.3B |
总资产CFTRMB
| Q4 25 | $14.1B | $9.0B | ||
| Q3 25 | $14.2B | $9.1B | ||
| Q2 25 | $13.8B | $8.9B | ||
| Q1 25 | $13.3B | $9.5B | ||
| Q4 24 | $13.5B | — | ||
| Q3 24 | $13.8B | $9.9B | ||
| Q2 24 | $13.8B | $9.6B | ||
| Q1 24 | $13.9B | $9.3B |
负债/权益比CFTRMB
| Q4 25 | 0.66× | 0.24× | ||
| Q3 25 | 0.61× | — | ||
| Q2 25 | 0.60× | — | ||
| Q1 25 | 0.62× | 0.24× | ||
| 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 | $386.2M |
| 自由现金流经营现金流 - 资本支出 | $313.0M | $360.9M |
| 自由现金流率自由现金流/营收 | 16.7% | 37.2% |
| 资本支出强度资本支出/营收 | 12.1% | 2.6% |
| 现金转化率经营现金流/净利润 | 1.09× | 2.47× |
| 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CFTRMB
| Q4 25 | $539.0M | — | ||
| Q3 25 | $1.1B | $123.8M | ||
| Q2 25 | $563.0M | $155.6M | ||
| Q1 25 | $586.0M | $115.1M | ||
| Q4 24 | $420.0M | — | ||
| Q3 24 | $931.0M | $94.9M | ||
| Q2 24 | $475.0M | $87.6M | ||
| Q1 24 | $445.0M | $233.8M |
自由现金流CFTRMB
| Q4 25 | $313.0M | — | ||
| Q3 25 | $717.0M | $116.6M | ||
| Q2 25 | $318.0M | $149.0M | ||
| Q1 25 | $454.0M | $109.0M | ||
| Q4 24 | $223.0M | — | ||
| Q3 24 | $792.0M | $88.5M | ||
| Q2 24 | $391.0M | $73.3M | ||
| Q1 24 | $347.0M | $227.0M |
自由现金流率CFTRMB
| Q4 25 | 16.7% | — | ||
| Q3 25 | 43.2% | 13.3% | ||
| Q2 25 | 16.8% | 17.7% | ||
| Q1 25 | 27.3% | 11.1% | ||
| Q4 24 | 14.6% | — | ||
| Q3 24 | 57.8% | 10.1% | ||
| Q2 24 | 24.9% | 8.4% | ||
| Q1 24 | 23.6% | 23.8% |
资本支出强度CFTRMB
| Q4 25 | 12.1% | — | ||
| Q3 25 | 20.9% | 0.8% | ||
| Q2 25 | 13.0% | 0.8% | ||
| Q1 25 | 7.9% | 0.6% | ||
| Q4 24 | 12.9% | — | ||
| Q3 24 | 10.1% | 0.7% | ||
| Q2 24 | 5.3% | 1.6% | ||
| Q1 24 | 6.7% | 0.7% |
现金转化率CFTRMB
| Q4 25 | 1.09× | — | ||
| Q3 25 | 2.31× | 1.39× | ||
| Q2 25 | 1.14× | 2.33× | ||
| Q1 25 | 1.67× | 1.28× | ||
| Q4 24 | 1.07× | — | ||
| Q3 24 | 2.73× | 2.34× | ||
| Q2 24 | 0.94× | 0.07× | ||
| Q1 24 | 1.87× | 4.09× |
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% |
TRMB
| Subscription and services | $701.5M | 72% |
| Product | $268.3M | 28% |
