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CF Industries（CF）与Welltower（WELL）财务数据对比。点击上方公司名可切换其他公司
Welltower的季度营收约是CF Industries的1.4倍（$2.6B vs $1.9B），CF Industries净利率更高（26.4% vs 4.6%，领先21.8%），Welltower同比增速更快（45.1% vs 22.8%），Welltower自由现金流更多（$340.4M vs $313.0M），过去两年Welltower的营收复合增速更高（37.1% 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。
Welltower Inc.是一家专注于医疗基础设施领域的房地产投资信托企业，核心业务为医疗类地产投资运营。截至2022年12月31日，公司投资的物业总量约3000处，全部布局于美国、加拿大及英国市场，是全球医疗地产投资领域的代表性企业之一。
CF vs WELL — 直观对比
营收规模更大
WELL
是对方的1.4倍
$1.9B
营收增速更快
WELL
高出22.2%
22.8%
净利率更高
CF
高出21.8%
4.6%
自由现金流更多
WELL
多$27.4M
$313.0M
两年增速更快
WELL
近两年复合增速
12.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $2.6B |
| 净利润 | $495.0M | $117.8M |
| 毛利率 | 40.9% | 24.3% |
| 营业利润率 | 33.0% | — |
| 净利率 | 26.4% | 4.6% |
| 营收同比 | 22.8% | 45.1% |
| 净利润同比 | 26.3% | -4.8% |
| 每股收益（稀释后） | $2.56 | $0.13 |
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CFWELL
| Q4 25 | $1.9B | $2.6B | ||
| Q3 25 | $1.7B | $2.1B | ||
| Q2 25 | $1.9B | $2.0B | ||
| Q1 25 | $1.7B | $1.9B | ||
| Q4 24 | $1.5B | $1.8B | ||
| Q3 24 | $1.4B | $1.5B | ||
| Q2 24 | $1.6B | $1.4B | ||
| Q1 24 | $1.5B | $1.4B |
净利润CFWELL
| Q4 25 | $495.0M | $117.8M | ||
| Q3 25 | $460.0M | $282.2M | ||
| Q2 25 | $492.0M | $304.6M | ||
| Q1 25 | $351.0M | $257.3M | ||
| Q4 24 | $392.0M | $123.8M | ||
| Q3 24 | $341.0M | $456.8M | ||
| Q2 24 | $506.0M | $260.7M | ||
| Q1 24 | $238.0M | $131.6M |
毛利率CFWELL
| Q4 25 | 40.9% | 24.3% | ||
| Q3 25 | 38.1% | 23.5% | ||
| Q2 25 | 39.9% | 23.2% | ||
| Q1 25 | 34.4% | 21.6% | ||
| Q4 24 | 34.4% | 20.0% | ||
| Q3 24 | 32.4% | 19.8% | ||
| Q2 24 | 43.2% | 20.2% | ||
| Q1 24 | 27.8% | 19.4% |
营业利润率CFWELL
| Q4 25 | 33.0% | — | ||
| Q3 25 | 35.0% | 14.2% | ||
| Q2 25 | 34.3% | 15.1% | ||
| Q1 25 | 27.4% | 10.7% | ||
| Q4 24 | 28.9% | 6.2% | ||
| Q3 24 | 26.6% | 12.2% | ||
| Q2 24 | 40.6% | 6.5% | ||
| Q1 24 | 20.6% | 10.4% |
净利率CFWELL
| Q4 25 | 26.4% | 4.6% | ||
| Q3 25 | 27.7% | 13.7% | ||
| Q2 25 | 26.0% | 15.5% | ||
| Q1 25 | 21.1% | 13.8% | ||
| Q4 24 | 25.7% | 7.0% | ||
| Q3 24 | 24.9% | 30.2% | ||
| Q2 24 | 32.2% | 18.7% | ||
| Q1 24 | 16.2% | 9.7% |
每股收益（稀释后）CFWELL
| Q4 25 | $2.56 | $0.13 | ||
| Q3 25 | $2.19 | $0.41 | ||
| Q2 25 | $2.37 | $0.45 | ||
| Q1 25 | $1.85 | $0.40 | ||
| Q4 24 | $1.86 | $0.20 | ||
| Q3 24 | $1.55 | $0.73 | ||
| Q2 24 | $2.30 | $0.42 | ||
| Q1 24 | $1.03 | $0.22 |
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 | — | $5.0B |
| 总债务越低越好 | $3.2B | $19.2B |
| 股东权益账面价值 | $4.8B | $42.1B |
| 总资产 | $14.1B | $67.3B |
| 负债/权益比越低杠杆越低 | 0.66× | 0.46× |
8季度趋势，按日历期对齐
现金及短期投资CFWELL
| Q4 25 | — | $5.0B | ||
| Q3 25 | — | $6.8B | ||
| Q2 25 | — | $4.4B | ||
| Q1 25 | — | $3.5B | ||
| Q4 24 | — | $3.5B | ||
| Q3 24 | — | $3.6B | ||
| Q2 24 | — | $2.8B | ||
| Q1 24 | — | $2.4B |
总债务CFWELL
| Q4 25 | $3.2B | $19.2B | ||
| Q3 25 | $3.0B | $16.9B | ||
| Q2 25 | $3.0B | $16.0B | ||
| Q1 25 | $3.0B | $15.7B | ||
| Q4 24 | $3.0B | $15.5B | ||
| Q3 24 | $3.0B | $15.8B | ||
| Q2 24 | $3.0B | $13.9B | ||
| Q1 24 | $3.0B | $14.2B |
股东权益CFWELL
| Q4 25 | $4.8B | $42.1B | ||
| Q3 25 | $4.8B | $38.8B | ||
| Q2 25 | $5.0B | $35.9B | ||
| Q1 25 | $4.8B | $34.0B | ||
| Q4 24 | $5.0B | $32.0B | ||
| Q3 24 | $5.2B | $30.3B | ||
| Q2 24 | $5.5B | $29.0B | ||
| Q1 24 | $5.4B | $27.5B |
总资产CFWELL
| Q4 25 | $14.1B | $67.3B | ||
| Q3 25 | $14.2B | $59.5B | ||
| Q2 25 | $13.8B | $55.8B | ||
| Q1 25 | $13.3B | $53.3B | ||
| Q4 24 | $13.5B | $51.0B | ||
| Q3 24 | $13.8B | $49.0B | ||
| Q2 24 | $13.8B | $45.5B | ||
| Q1 24 | $13.9B | $44.6B |
负债/权益比CFWELL
| Q4 25 | 0.66× | 0.46× | ||
| Q3 25 | 0.61× | 0.43× | ||
| Q2 25 | 0.60× | 0.44× | ||
| Q1 25 | 0.62× | 0.46× | ||
| Q4 24 | 0.60× | 0.49× | ||
| Q3 24 | 0.57× | 0.52× | ||
| Q2 24 | 0.54× | 0.48× | ||
| Q1 24 | 0.55× | 0.52× |
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 | $654.3M |
| 自由现金流经营现金流 - 资本支出 | $313.0M | $340.4M |
| 自由现金流率自由现金流/营收 | 16.7% | 13.3% |
| 资本支出强度资本支出/营收 | 12.1% | 12.3% |
| 现金转化率经营现金流/净利润 | 1.09× | 5.56× |
| 过去12个月自由现金流最近4个季度 | $1.8B | $1.8B |
8季度趋势，按日历期对齐
经营现金流CFWELL
| Q4 25 | $539.0M | $654.3M | ||
| Q3 25 | $1.1B | $858.4M | ||
| Q2 25 | $563.0M | $770.0M | ||
| Q1 25 | $586.0M | $599.0M | ||
| Q4 24 | $420.0M | $559.2M | ||
| Q3 24 | $931.0M | $685.0M | ||
| Q2 24 | $475.0M | $605.4M | ||
| Q1 24 | $445.0M | $406.8M |
自由现金流CFWELL
| Q4 25 | $313.0M | $340.4M | ||
| Q3 25 | $717.0M | $595.3M | ||
| Q2 25 | $318.0M | $537.2M | ||
| Q1 25 | $454.0M | $358.6M | ||
| Q4 24 | $223.0M | $240.4M | ||
| Q3 24 | $792.0M | $443.8M | ||
| Q2 24 | $391.0M | $440.3M | ||
| Q1 24 | $347.0M | $274.3M |
自由现金流率CFWELL
| Q4 25 | 16.7% | 13.3% | ||
| Q3 25 | 43.2% | 28.9% | ||
| Q2 25 | 16.8% | 27.3% | ||
| Q1 25 | 27.3% | 19.2% | ||
| Q4 24 | 14.6% | 13.6% | ||
| Q3 24 | 57.8% | 29.4% | ||
| Q2 24 | 24.9% | 31.6% | ||
| Q1 24 | 23.6% | 20.2% |
资本支出强度CFWELL
| Q4 25 | 12.1% | 12.3% | ||
| Q3 25 | 20.9% | 12.8% | ||
| Q2 25 | 13.0% | 11.8% | ||
| Q1 25 | 7.9% | 12.9% | ||
| Q4 24 | 12.9% | 18.1% | ||
| Q3 24 | 10.1% | 16.0% | ||
| Q2 24 | 5.3% | 11.8% | ||
| Q1 24 | 6.7% | 9.7% |
现金转化率CFWELL
| Q4 25 | 1.09× | 5.56× | ||
| Q3 25 | 2.31× | 3.04× | ||
| Q2 25 | 1.14× | 2.53× | ||
| Q1 25 | 1.67× | 2.33× | ||
| Q4 24 | 1.07× | 4.52× | ||
| Q3 24 | 2.73× | 1.50× | ||
| Q2 24 | 0.94× | 2.32× | ||
| Q1 24 | 1.87× | 3.09× |
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% |
WELL
暂无分部数据
