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CHS INC（CHSCP）与Murphy USA Inc.（MUSA）财务数据对比。点击上方公司名可切换其他公司
CHS INC的季度营收约是Murphy USA Inc.的1.9倍（$8.9B vs $4.7B），Murphy USA Inc.净利率更高（3.0% vs 2.9%，领先0.1%），Murphy USA Inc.同比增速更快（0.7% vs -4.6%），Murphy USA Inc.自由现金流更多（$128.8M vs $-453.8M），过去两年Murphy USA Inc.的营收复合增速更高（-1.0% 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。
墨菲美国是总部位于美国阿肯色州埃尔多拉多的企业，2013年由墨菲石油分拆后独立运营，主营连锁零售加油站业务，旗下站点大多毗邻沃尔玛门店开设，为消费者提供燃油及配套零售服务。
CHSCP vs MUSA — 直观对比
营收规模更大
CHSCP
是对方的1.9倍
$4.7B
营收增速更快
MUSA
高出5.3%
-4.6%
净利率更高
MUSA
高出0.1%
2.9%
自由现金流更多
MUSA
多$582.6M
$-453.8M
两年增速更快
MUSA
近两年复合增速
-1.2%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $8.9B | $4.7B |
| 净利润 | $260.5M | $141.9M |
| 毛利率 | 4.4% | — |
| 营业利润率 | 1.4% | 4.4% |
| 净利率 | 2.9% | 3.0% |
| 营收同比 | -4.6% | 0.7% |
| 净利润同比 | 6.4% | -0.4% |
| 每股收益（稀释后） | — | $7.35 |
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CHSCPMUSA
| Q4 25 | $8.9B | $4.7B | ||
| Q3 25 | $13.2B | $5.1B | ||
| Q2 25 | $9.8B | $5.0B | ||
| Q1 25 | $3.2B | $4.5B | ||
| Q4 24 | $9.3B | $4.7B | ||
| Q3 24 | $9.2B | $5.2B | ||
| Q2 24 | $9.6B | $5.5B | ||
| Q1 24 | $9.1B | $4.8B |
净利润CHSCPMUSA
| Q4 25 | $260.5M | $141.9M | ||
| Q3 25 | $196.7M | $129.9M | ||
| Q2 25 | $232.2M | $145.6M | ||
| Q1 25 | $-75.8M | $53.2M | ||
| Q4 24 | $244.8M | $142.5M | ||
| Q3 24 | $111.8M | $149.2M | ||
| Q2 24 | $297.3M | $144.8M | ||
| Q1 24 | $170.3M | $66.0M |
毛利率CHSCPMUSA
| Q4 25 | 4.4% | — | ||
| Q3 25 | 2.5% | — | ||
| Q2 25 | 3.4% | — | ||
| Q1 25 | 2.4% | — | ||
| Q4 24 | 4.3% | — | ||
| Q3 24 | 3.0% | — | ||
| Q2 24 | 4.9% | — | ||
| Q1 24 | 4.0% | — |
营业利润率CHSCPMUSA
| Q4 25 | 1.4% | 4.4% | ||
| Q3 25 | 0.4% | 3.9% | ||
| Q2 25 | 0.7% | 4.4% | ||
| Q1 25 | -5.4% | 1.9% | ||
| Q4 24 | 1.5% | 4.2% | ||
| Q3 24 | -0.3% | 4.2% | ||
| Q2 24 | 1.6% | 4.0% | ||
| Q1 24 | 0.7% | 2.2% |
净利率CHSCPMUSA
| Q4 25 | 2.9% | 3.0% | ||
| Q3 25 | 1.5% | 2.5% | ||
| Q2 25 | 2.4% | 2.9% | ||
| Q1 25 | -2.4% | 1.2% | ||
| Q4 24 | 2.6% | 3.0% | ||
| Q3 24 | 1.2% | 2.8% | ||
| Q2 24 | 3.1% | 2.7% | ||
| Q1 24 | 1.9% | 1.4% |
每股收益（稀释后）CHSCPMUSA
| Q4 25 | — | $7.35 | ||
| Q3 25 | — | $6.76 | ||
| Q2 25 | — | $7.36 | ||
| Q1 25 | — | $2.63 | ||
| Q4 24 | — | $6.87 | ||
| Q3 24 | — | $7.20 | ||
| Q2 24 | — | $6.92 | ||
| Q1 24 | — | $3.12 |
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 | $28.9M |
| 总债务越低越好 | $1.7B | $2.2B |
| 股东权益账面价值 | $11.2B | $623.5M |
| 总资产 | $20.7B | $4.7B |
| 负债/权益比越低杠杆越低 | 0.16× | 3.47× |
8季度趋势，按日历期对齐
现金及短期投资CHSCPMUSA
| Q4 25 | $374.7M | $28.9M | ||
| Q3 25 | $327.8M | $42.8M | ||
| Q2 25 | $323.9M | $54.1M | ||
| Q1 25 | $433.3M | $49.4M | ||
| Q4 24 | $795.6M | $47.0M | ||
| Q3 24 | $1.3B | $52.5M | ||
| Q2 24 | $310.1M | $79.8M | ||
| Q1 24 | $633.3M | $56.7M |
总债务CHSCPMUSA
| Q4 25 | $1.7B | $2.2B | ||
| Q3 25 | $1.7B | $2.2B | ||
| Q2 25 | $1.8B | $2.1B | ||
| Q1 25 | $1.8B | $2.0B | ||
| Q4 24 | $1.8B | $1.8B | ||
| Q3 24 | $1.8B | $1.8B | ||
| Q2 24 | $1.7B | $1.8B | ||
| Q1 24 | $1.7B | $1.8B |
股东权益CHSCPMUSA
| Q4 25 | $11.2B | $623.5M | ||
| Q3 25 | $11.1B | $546.0M | ||
| Q2 25 | $10.8B | $646.1M | ||
| Q1 25 | $10.7B | $719.6M | ||
| Q4 24 | $10.8B | $840.1M | ||
| Q3 24 | $10.8B | $830.1M | ||
| Q2 24 | $10.9B | $811.3M | ||
| Q1 24 | $10.8B | $781.6M |
总资产CHSCPMUSA
| Q4 25 | $20.7B | $4.7B | ||
| Q3 25 | $18.9B | $4.7B | ||
| Q2 25 | $19.7B | $4.6B | ||
| Q1 25 | $20.1B | $4.5B | ||
| Q4 24 | $19.6B | $4.5B | ||
| Q3 24 | $18.7B | $4.4B | ||
| Q2 24 | $18.5B | $4.4B | ||
| Q1 24 | $19.2B | $4.3B |
负债/权益比CHSCPMUSA
| Q4 25 | 0.16× | 3.47× | ||
| Q3 25 | 0.16× | 4.07× | ||
| Q2 25 | 0.17× | 3.20× | ||
| Q1 25 | 0.17× | 2.74× | ||
| Q4 24 | 0.17× | 2.18× | ||
| Q3 24 | 0.17× | 2.19× | ||
| Q2 24 | 0.15× | 2.20× | ||
| Q1 24 | 0.16× | 2.28× |
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 | $245.5M |
| 自由现金流经营现金流 - 资本支出 | $-453.8M | $128.8M |
| 自由现金流率自由现金流/营收 | -5.1% | 2.7% |
| 资本支出强度资本支出/营收 | 1.3% | 2.5% |
| 现金转化率经营现金流/净利润 | -1.30× | 1.73× |
| 过去12个月自由现金流最近4个季度 | $-60.0M | $374.3M |
8季度趋势，按日历期对齐
经营现金流CHSCPMUSA
| Q4 25 | $-337.8M | $245.5M | ||
| Q3 25 | $1.3B | $184.8M | ||
| Q2 25 | $696.6M | $255.1M | ||
| Q1 25 | $-1.0B | $128.5M | ||
| Q4 24 | $-294.0M | $248.7M | ||
| Q3 24 | $1.1B | $202.1M | ||
| Q2 24 | $556.9M | $260.8M | ||
| Q1 24 | $-249.6M | $136.0M |
自由现金流CHSCPMUSA
| Q4 25 | $-453.8M | $128.8M | ||
| Q3 25 | $1.1B | $67.7M | ||
| Q2 25 | $520.6M | $137.1M | ||
| Q1 25 | $-1.2B | $40.7M | ||
| Q4 24 | $-486.6M | $121.7M | ||
| Q3 24 | $845.8M | $65.2M | ||
| Q2 24 | $361.6M | $142.8M | ||
| Q1 24 | $-453.3M | $59.8M |
自由现金流率CHSCPMUSA
| Q4 25 | -5.1% | 2.7% | ||
| Q3 25 | 8.1% | 1.3% | ||
| Q2 25 | 5.3% | 2.7% | ||
| Q1 25 | -38.1% | 0.9% | ||
| Q4 24 | -5.2% | 2.6% | ||
| Q3 24 | 9.2% | 1.2% | ||
| Q2 24 | 3.8% | 2.6% | ||
| Q1 24 | -5.0% | 1.2% |
资本支出强度CHSCPMUSA
| Q4 25 | 1.3% | 2.5% | ||
| Q3 25 | 1.5% | 2.3% | ||
| Q2 25 | 1.8% | 2.4% | ||
| Q1 25 | 5.2% | 1.9% | ||
| Q4 24 | 2.1% | 2.7% | ||
| Q3 24 | 2.9% | 2.6% | ||
| Q2 24 | 2.0% | 2.2% | ||
| Q1 24 | 2.2% | 1.6% |
现金转化率CHSCPMUSA
| Q4 25 | -1.30× | 1.73× | ||
| Q3 25 | 6.46× | 1.42× | ||
| Q2 25 | 3.00× | 1.75× | ||
| Q1 25 | — | 2.42× | ||
| Q4 24 | -1.20× | 1.75× | ||
| Q3 24 | 9.96× | 1.35× | ||
| Q2 24 | 1.87× | 1.80× | ||
| Q1 24 | -1.47× | 2.06× |
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% |
MUSA
| Product Sales Petroleum Retail | $3.3B | 69% |
| Merchandise | $1.1B | 23% |
| Product Sales Petroleum Wholesale | $327.9M | 7% |
| Other | $57.0M | 1% |
| Renewable Identification Numbers | $55.3M | 1% |
| Revenue Other | $1.3M | 0% |
