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CHS INC（CHSCP）与Dollar General（DG）财务数据对比。点击上方公司名可切换其他公司
Dollar General的季度营收约是CHS INC的1.2倍（$10.6B vs $8.9B），CHS INC净利率更高（2.9% vs 2.7%，领先0.3%），Dollar General同比增速更快（4.6% vs -4.6%），Dollar General自由现金流更多（$690.4M vs $-453.8M），过去两年Dollar General的营收复合增速更高（4.3% vs -1.2%）
CHS Inc是美国顶尖农业合作社企业，跻身财富世界500强，总部位于明尼苏达州因弗格罗夫海茨，由美国本土农业合作社、农牧从业者及优先股股东共同所有。公司业务覆盖食品加工批发、农资供应、金融服务、零售等多个领域，在北美中西部共19个州分销Cenex品牌燃料，是北美大型连锁便利店运营商之一，同时合资持股植物油生产商文图拉食品。
Dollar General是美国大型折扣连锁零售企业，总部位于田纳西州古德利茨维尔。截至2024年1月初，集团在美国本土及墨西哥共运营20388家线下门店，主打高性价比日常商品，服务大众消费群体。
CHSCP vs DG — 直观对比
营收规模更大
DG
是对方的1.2倍
$8.9B
营收增速更快
DG
高出9.2%
-4.6%
净利率更高
CHSCP
高出0.3%
2.7%
自由现金流更多
DG
多$1.1B
$-453.8M
两年增速更快
DG
近两年复合增速
-1.2%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $8.9B | $10.6B |
| 净利润 | $260.5M | $282.7M |
| 毛利率 | 4.4% | 29.9% |
| 营业利润率 | 1.4% | 4.0% |
| 净利率 | 2.9% | 2.7% |
| 营收同比 | -4.6% | 4.6% |
| 净利润同比 | 6.4% | 43.8% |
| 每股收益（稀释后） | — | $1.28 |
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CHSCPDG
| Q4 25 | $8.9B | $10.6B | ||
| Q3 25 | $13.2B | — | ||
| Q2 25 | $9.8B | $10.4B | ||
| Q1 25 | $3.2B | — | ||
| Q4 24 | $9.3B | $10.2B | ||
| Q3 24 | $9.2B | $10.2B | ||
| Q2 24 | $9.6B | $9.9B | ||
| Q1 24 | $9.1B | $9.9B |
净利润CHSCPDG
| Q4 25 | $260.5M | $282.7M | ||
| Q3 25 | $196.7M | — | ||
| Q2 25 | $232.2M | $391.9M | ||
| Q1 25 | $-75.8M | — | ||
| Q4 24 | $244.8M | $196.5M | ||
| Q3 24 | $111.8M | $374.2M | ||
| Q2 24 | $297.3M | $363.3M | ||
| Q1 24 | $170.3M | $401.8M |
毛利率CHSCPDG
| Q4 25 | 4.4% | 29.9% | ||
| Q3 25 | 2.5% | — | ||
| Q2 25 | 3.4% | 31.0% | ||
| Q1 25 | 2.4% | — | ||
| Q4 24 | 4.3% | 28.8% | ||
| Q3 24 | 3.0% | 30.0% | ||
| Q2 24 | 4.9% | 30.2% | ||
| Q1 24 | 4.0% | 29.5% |
营业利润率CHSCPDG
| Q4 25 | 1.4% | 4.0% | ||
| Q3 25 | 0.4% | — | ||
| Q2 25 | 0.7% | 5.5% | ||
| Q1 25 | -5.4% | — | ||
| Q4 24 | 1.5% | 3.2% | ||
| Q3 24 | -0.3% | 5.4% | ||
| Q2 24 | 1.6% | 5.5% | ||
| Q1 24 | 0.7% | 5.9% |
净利率CHSCPDG
| Q4 25 | 2.9% | 2.7% | ||
| Q3 25 | 1.5% | — | ||
| Q2 25 | 2.4% | 3.8% | ||
| Q1 25 | -2.4% | — | ||
| Q4 24 | 2.6% | 1.9% | ||
| Q3 24 | 1.2% | 3.7% | ||
| Q2 24 | 3.1% | 3.7% | ||
| Q1 24 | 1.9% | 4.1% |
每股收益（稀释后）CHSCPDG
| Q4 25 | — | $1.28 | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $1.78 | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $0.89 | ||
| Q3 24 | — | $1.70 | ||
| Q2 24 | — | $1.65 | ||
| Q1 24 | — | $1.82 |
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 | $374.7M | $1.2B |
| 总债务越低越好 | $1.7B | $5.1B |
| 股东权益账面价值 | $11.2B | $8.2B |
| 总资产 | $20.7B | $31.7B |
| 负债/权益比越低杠杆越低 | 0.16× | 0.63× |
8季度趋势，按日历期对齐
现金及短期投资CHSCPDG
| Q4 25 | $374.7M | $1.2B | ||
| Q3 25 | $327.8M | — | ||
| Q2 25 | $323.9M | $850.0M | ||
| Q1 25 | $433.3M | — | ||
| Q4 24 | $795.6M | $537.3M | ||
| Q3 24 | $1.3B | $1.2B | ||
| Q2 24 | $310.1M | $720.7M | ||
| Q1 24 | $633.3M | $537.3M |
总债务CHSCPDG
| Q4 25 | $1.7B | $5.1B | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.8B | $5.7B | ||
| Q1 25 | $1.8B | — | ||
| Q4 24 | $1.8B | $5.7B | ||
| Q3 24 | $1.8B | $6.2B | ||
| Q2 24 | $1.7B | $6.2B | ||
| Q1 24 | $1.7B | $6.2B |
股东权益CHSCPDG
| Q4 25 | $11.2B | $8.2B | ||
| Q3 25 | $11.1B | — | ||
| Q2 25 | $10.8B | $7.7B | ||
| Q1 25 | $10.7B | — | ||
| Q4 24 | $10.8B | $7.3B | ||
| Q3 24 | $10.8B | $7.3B | ||
| Q2 24 | $10.9B | $7.0B | ||
| Q1 24 | $10.8B | $6.7B |
总资产CHSCPDG
| Q4 25 | $20.7B | $31.7B | ||
| Q3 25 | $18.9B | — | ||
| Q2 25 | $19.7B | $31.0B | ||
| Q1 25 | $20.1B | — | ||
| Q4 24 | $19.6B | $31.5B | ||
| Q3 24 | $18.7B | $31.8B | ||
| Q2 24 | $18.5B | $31.0B | ||
| Q1 24 | $19.2B | $30.8B |
负债/权益比CHSCPDG
| Q4 25 | 0.16× | 0.63× | ||
| Q3 25 | 0.16× | — | ||
| Q2 25 | 0.17× | 0.74× | ||
| Q1 25 | 0.17× | — | ||
| Q4 24 | 0.17× | 0.78× | ||
| Q3 24 | 0.17× | 0.86× | ||
| Q2 24 | 0.15× | 0.89× | ||
| Q1 24 | 0.16× | 0.92× |
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 | $-337.8M | $1.0B |
| 自由现金流经营现金流 - 资本支出 | $-453.8M | $690.4M |
| 自由现金流率自由现金流/营收 | -5.1% | 6.5% |
| 资本支出强度资本支出/营收 | 1.3% | 2.9% |
| 现金转化率经营现金流/净利润 | -1.30× | 3.55× |
| 过去12个月自由现金流最近4个季度 | $-60.0M | $2.1B |
8季度趋势，按日历期对齐
经营现金流CHSCPDG
| Q4 25 | $-337.8M | $1.0B | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | $696.6M | $847.2M | ||
| Q1 25 | $-1.0B | — | ||
| Q4 24 | $-294.0M | $542.4M | ||
| Q3 24 | $1.1B | $988.9M | ||
| Q2 24 | $556.9M | $663.8M | ||
| Q1 24 | $-249.6M | $949.8M |
自由现金流CHSCPDG
| Q4 25 | $-453.8M | $690.4M | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $520.6M | $556.2M | ||
| Q1 25 | $-1.2B | — | ||
| Q4 24 | $-486.6M | $201.0M | ||
| Q3 24 | $845.8M | $635.2M | ||
| Q2 24 | $361.6M | $321.8M | ||
| Q1 24 | $-453.3M | $490.1M |
自由现金流率CHSCPDG
| Q4 25 | -5.1% | 6.5% | ||
| Q3 25 | 8.1% | — | ||
| Q2 25 | 5.3% | 5.3% | ||
| Q1 25 | -38.1% | — | ||
| Q4 24 | -5.2% | 2.0% | ||
| Q3 24 | 9.2% | 6.2% | ||
| Q2 24 | 3.8% | 3.2% | ||
| Q1 24 | -5.0% | 5.0% |
资本支出强度CHSCPDG
| Q4 25 | 1.3% | 2.9% | ||
| Q3 25 | 1.5% | — | ||
| Q2 25 | 1.8% | 2.8% | ||
| Q1 25 | 5.2% | — | ||
| Q4 24 | 2.1% | 3.4% | ||
| Q3 24 | 2.9% | 3.5% | ||
| Q2 24 | 2.0% | 3.4% | ||
| Q1 24 | 2.2% | 4.7% |
现金转化率CHSCPDG
| Q4 25 | -1.30× | 3.55× | ||
| Q3 25 | 6.46× | — | ||
| Q2 25 | 3.00× | 2.16× | ||
| Q1 25 | — | — | ||
| Q4 24 | -1.20× | 2.76× | ||
| Q3 24 | 9.96× | 2.64× | ||
| Q2 24 | 1.87× | 1.83× | ||
| Q1 24 | -1.47× | 2.36× |
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
CHSCP
| Grains | $5.2B | 59% |
| Agronomy | $1.2B | 14% |
| CF Nitrogen LLC | $1.1B | 12% |
| Ventura Foods Llc | $838.2M | 9% |
| Other | $283.9M | 3% |
| ASC Topic815 | $198.7M | 2% |
| West Central Ag Services | $18.0M | 0% |
| Other Guidance | $1.4M | 0% |
DG
| Consumables | $8.8B | 83% |
| Seasonal | $992.2M | 9% |
| Home Products | $550.7M | 5% |
| Apparel | $281.9M | 3% |
