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CHS INC（CHSCP）与SEABOARD CORP（SEB）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SEABOARD CORP的3.7倍（$8.9B vs $2.4B）。SEABOARD CORP净利率更高（10.6% vs 2.9%，领先7.6%）。SEABOARD CORP同比增速更快（-2.9% vs -4.6%）。SEABOARD CORP自由现金流更多（$53.0M vs $-453.8M）。过去两年SEABOARD CORP的营收复合增速更高（4.9% 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。
Seaboard Corporation是一家多元化跨国农业综合及运输集团，业务覆盖多个垂直整合领域。美国本土核心业务包括生猪养殖加工与远洋运输，海外板块主营大宗商品贸易、谷物加工、食糖生产及发电，总部位于堪萨斯州梅里亚姆。
CHSCP vs SEB — 直观对比
营收规模更大
CHSCP
是对方的3.7倍
$2.4B
营收增速更快
SEB
高出1.7%
-4.6%
净利率更高
SEB
高出7.6%
2.9%
自由现金流更多
SEB
多$506.8M
$-453.8M
两年增速更快
SEB
近两年复合增速
-1.2%
损益表 — Q1 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $8.9B | $2.4B |
| 净利润 | $260.5M | $255.0M |
| 毛利率 | 4.4% | 7.9% |
| 营业利润率 | 1.4% | 2.7% |
| 净利率 | 2.9% | 10.6% |
| 营收同比 | -4.6% | -2.9% |
| 净利润同比 | 6.4% | 63.5% |
| 每股收益（稀释后） | — | $262.58 |
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CHSCPSEB
| Q4 25 | $8.9B | $2.4B | ||
| Q3 25 | $13.2B | $2.5B | ||
| Q2 25 | $9.8B | $2.5B | ||
| Q1 25 | $3.2B | $2.3B | ||
| Q4 24 | $9.3B | $2.5B | ||
| Q3 24 | $9.2B | $2.2B | ||
| Q2 24 | $9.6B | $2.2B | ||
| Q1 24 | $9.1B | $2.2B |
净利润CHSCPSEB
| Q4 25 | $260.5M | $255.0M | ||
| Q3 25 | $196.7M | $110.0M | ||
| Q2 25 | $232.2M | $104.0M | ||
| Q1 25 | $-75.8M | $32.0M | ||
| Q4 24 | $244.8M | $156.0M | ||
| Q3 24 | $111.8M | $-149.0M | ||
| Q2 24 | $297.3M | $61.0M | ||
| Q1 24 | $170.3M | $22.0M |
毛利率CHSCPSEB
| Q4 25 | 4.4% | 7.9% | ||
| Q3 25 | 2.5% | 7.8% | ||
| Q2 25 | 3.4% | 6.5% | ||
| Q1 25 | 2.4% | 6.1% | ||
| Q4 24 | 4.3% | 9.0% | ||
| Q3 24 | 3.0% | 6.2% | ||
| Q2 24 | 4.9% | 5.8% | ||
| Q1 24 | 4.0% | 4.0% |
营业利润率CHSCPSEB
| Q4 25 | 1.4% | 2.7% | ||
| Q3 25 | 0.4% | 3.3% | ||
| Q2 25 | 0.7% | 2.1% | ||
| Q1 25 | -5.4% | 1.6% | ||
| Q4 24 | 1.5% | 4.6% | ||
| Q3 24 | -0.3% | 1.4% | ||
| Q2 24 | 1.6% | 1.4% | ||
| Q1 24 | 0.7% | -0.9% |
净利率CHSCPSEB
| Q4 25 | 2.9% | 10.6% | ||
| Q3 25 | 1.5% | 4.3% | ||
| Q2 25 | 2.4% | 4.2% | ||
| Q1 25 | -2.4% | 1.4% | ||
| Q4 24 | 2.6% | 6.3% | ||
| Q3 24 | 1.2% | -6.7% | ||
| Q2 24 | 3.1% | 2.8% | ||
| Q1 24 | 1.9% | 1.0% |
每股收益（稀释后）CHSCPSEB
| Q4 25 | — | $262.58 | ||
| Q3 25 | — | $113.71 | ||
| Q2 25 | — | $105.22 | ||
| Q1 25 | — | $32.95 | ||
| Q4 24 | — | $158.58 | ||
| Q3 24 | — | $-153.44 | ||
| Q2 24 | — | $62.82 | ||
| Q1 24 | — | $22.66 |
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 | — |
| 股东权益账面价值 | $11.2B | $5.2B |
| 总资产 | $20.7B | $8.2B |
| 负债/权益比越低杠杆越低 | 0.16× | — |
8季度趋势，按日历期对齐
现金及短期投资CHSCPSEB
| Q4 25 | $374.7M | $1.2B | ||
| Q3 25 | $327.8M | $1.2B | ||
| Q2 25 | $323.9M | $1.1B | ||
| Q1 25 | $433.3M | $1.1B | ||
| Q4 24 | $795.6M | $1.2B | ||
| Q3 24 | $1.3B | $1.2B | ||
| Q2 24 | $310.1M | $1.2B | ||
| Q1 24 | $633.3M | $1.2B |
总债务CHSCPSEB
| Q4 25 | $1.7B | — | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.8B | — | ||
| Q1 25 | $1.8B | — | ||
| Q4 24 | $1.8B | — | ||
| Q3 24 | $1.8B | — | ||
| Q2 24 | $1.7B | — | ||
| Q1 24 | $1.7B | — |
股东权益CHSCPSEB
| Q4 25 | $11.2B | $5.2B | ||
| Q3 25 | $11.1B | $5.0B | ||
| Q2 25 | $10.8B | $4.8B | ||
| Q1 25 | $10.7B | $4.7B | ||
| Q4 24 | $10.8B | $4.7B | ||
| Q3 24 | $10.8B | $4.5B | ||
| Q2 24 | $10.9B | $4.7B | ||
| Q1 24 | $10.8B | $4.6B |
总资产CHSCPSEB
| Q4 25 | $20.7B | $8.2B | ||
| Q3 25 | $18.9B | $8.0B | ||
| Q2 25 | $19.7B | $7.9B | ||
| Q1 25 | $20.1B | $7.6B | ||
| Q4 24 | $19.6B | $7.7B | ||
| Q3 24 | $18.7B | $7.5B | ||
| Q2 24 | $18.5B | $7.7B | ||
| Q1 24 | $19.2B | $7.6B |
负债/权益比CHSCPSEB
| Q4 25 | 0.16× | — | ||
| Q3 25 | 0.16× | — | ||
| Q2 25 | 0.17× | — | ||
| Q1 25 | 0.17× | — | ||
| Q4 24 | 0.17× | — | ||
| Q3 24 | 0.17× | — | ||
| Q2 24 | 0.15× | — | ||
| Q1 24 | 0.16× | — |
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 | $188.0M |
| 自由现金流经营现金流 - 资本支出 | $-453.8M | $53.0M |
| 自由现金流率自由现金流/营收 | -5.1% | 2.2% |
| 资本支出强度资本支出/营收 | 1.3% | 5.6% |
| 现金转化率经营现金流/净利润 | -1.30× | 0.74× |
| 过去12个月自由现金流最近4个季度 | $-60.0M | $6.0M |
8季度趋势，按日历期对齐
经营现金流CHSCPSEB
| Q4 25 | $-337.8M | $188.0M | ||
| Q3 25 | $1.3B | $319.0M | ||
| Q2 25 | $696.6M | $81.0M | ||
| Q1 25 | $-1.0B | $-20.0M | ||
| Q4 24 | $-294.0M | $300.0M | ||
| Q3 24 | $1.1B | $194.0M | ||
| Q2 24 | $556.9M | $6.0M | ||
| Q1 24 | $-249.6M | $19.0M |
自由现金流CHSCPSEB
| Q4 25 | $-453.8M | $53.0M | ||
| Q3 25 | $1.1B | $152.0M | ||
| Q2 25 | $520.6M | $-70.0M | ||
| Q1 25 | $-1.2B | $-129.0M | ||
| Q4 24 | $-486.6M | $162.0M | ||
| Q3 24 | $845.8M | $58.0M | ||
| Q2 24 | $361.6M | $-127.0M | ||
| Q1 24 | $-453.3M | $-85.0M |
自由现金流率CHSCPSEB
| Q4 25 | -5.1% | 2.2% | ||
| Q3 25 | 8.1% | 6.0% | ||
| Q2 25 | 5.3% | -2.8% | ||
| Q1 25 | -38.1% | -5.6% | ||
| Q4 24 | -5.2% | 6.5% | ||
| Q3 24 | 9.2% | 2.6% | ||
| Q2 24 | 3.8% | -5.7% | ||
| Q1 24 | -5.0% | -3.9% |
资本支出强度CHSCPSEB
| Q4 25 | 1.3% | 5.6% | ||
| Q3 25 | 1.5% | 6.6% | ||
| Q2 25 | 1.8% | 6.1% | ||
| Q1 25 | 5.2% | 4.7% | ||
| Q4 24 | 2.1% | 5.6% | ||
| Q3 24 | 2.9% | 6.1% | ||
| Q2 24 | 2.0% | 6.0% | ||
| Q1 24 | 2.2% | 4.7% |
现金转化率CHSCPSEB
| Q4 25 | -1.30× | 0.74× | ||
| Q3 25 | 6.46× | 2.90× | ||
| Q2 25 | 3.00× | 0.78× | ||
| Q1 25 | — | -0.63× | ||
| Q4 24 | -1.20× | 1.92× | ||
| Q3 24 | 9.96× | — | ||
| Q2 24 | 1.87× | 0.10× | ||
| Q1 24 | -1.47× | 0.86× |
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% |
SEB
| Commodity Trading And Milling | $1.3B | 52% |
| Pork Segment | $469.0M | 19% |
| Marine | $444.0M | 18% |
| Other | $108.0M | 4% |
| Energy Service | $56.0M | 2% |
| Product And Service Other Services | $15.0M | 1% |
| Transportation | $6.0M | 0% |
