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Calumet, Inc.（CLMT）与CVR ENERGY INC（CVI）财务数据对比。点击上方公司名可切换其他公司
CVR ENERGY INC的季度营收约是Calumet, Inc.的1.7倍（$1.8B vs $1.0B）。Calumet, Inc.净利率更高（-3.6% vs -6.1%，领先2.5%）
Calumet是总部位于美国的特种产品企业，专注于生产和分销高价值碳氢化合物与特种化学品，产品覆盖特种油、润滑剂、蜡制品及可再生燃料解决方案，服务北美及全球的工业、消费、交通等下游领域。
CVR能源是总部位于美国的能源控股企业，主营石油炼制与氮肥制造两大核心业务，生产汽油、柴油、航空燃油及农用化肥等产品，主要面向北美地区的商业、工业及农业客户供货。
CLMT vs CVI — 直观对比
营收规模更大
CVI
是对方的1.7倍
$1.0B
净利率更高
CLMT
高出2.5%
-6.1%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $1.8B |
| 净利润 | $-37.3M | $-110.0M |
| 毛利率 | -0.3% | -3.1% |
| 营业利润率 | -6.2% | -5.3% |
| 净利率 | -3.6% | -6.1% |
| 营收同比 | — | -7.0% |
| 净利润同比 | — | -492.9% |
| 每股收益（稀释后） | $-0.43 | $-1.09 |
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CLMTCVI
| Q4 25 | $1.0B | $1.8B | ||
| Q3 25 | $1.1B | $1.9B | ||
| Q2 25 | $1.0B | $1.8B | ||
| Q1 25 | $993.9M | $1.6B | ||
| Q4 24 | — | $1.9B | ||
| Q3 24 | $1.1B | $1.8B | ||
| Q2 24 | $1.1B | $2.0B | ||
| Q1 24 | — | $1.9B |
净利润CLMTCVI
| Q4 25 | $-37.3M | $-110.0M | ||
| Q3 25 | $313.4M | $374.0M | ||
| Q2 25 | $-147.9M | $-114.0M | ||
| Q1 25 | $-162.0M | $-123.0M | ||
| Q4 24 | — | $28.0M | ||
| Q3 24 | $-100.6M | $-124.0M | ||
| Q2 24 | $-39.1M | $21.0M | ||
| Q1 24 | — | $82.0M |
毛利率CLMTCVI
| Q4 25 | -0.3% | -3.1% | ||
| Q3 25 | 34.7% | 28.8% | ||
| Q2 25 | -4.2% | -3.7% | ||
| Q1 25 | -8.2% | -5.5% | ||
| Q4 24 | — | 3.0% | ||
| Q3 24 | 0.4% | -3.9% | ||
| Q2 24 | 5.6% | 2.9% | ||
| Q1 24 | — | 8.6% |
营业利润率CLMTCVI
| Q4 25 | -6.2% | -5.3% | ||
| Q3 25 | 30.0% | 26.3% | ||
| Q2 25 | -9.8% | -5.8% | ||
| Q1 25 | -4.9% | -8.0% | ||
| Q4 24 | — | 1.1% | ||
| Q3 24 | -5.2% | -6.2% | ||
| Q2 24 | 0.5% | 1.4% | ||
| Q1 24 | — | 6.6% |
净利率CLMTCVI
| Q4 25 | -3.6% | -6.1% | ||
| Q3 25 | 29.1% | 19.2% | ||
| Q2 25 | -14.4% | -6.5% | ||
| Q1 25 | -16.3% | -7.5% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | -9.1% | -6.8% | ||
| Q2 24 | -3.4% | 1.1% | ||
| Q1 24 | — | 4.4% |
每股收益（稀释后）CLMTCVI
| Q4 25 | $-0.43 | $-1.09 | ||
| Q3 25 | $3.61 | $3.72 | ||
| Q2 25 | $-1.70 | $-1.14 | ||
| Q1 25 | $-1.87 | $-1.22 | ||
| Q4 24 | — | $0.28 | ||
| Q3 24 | $-1.18 | $-1.24 | ||
| Q2 24 | $-0.48 | $0.21 | ||
| Q1 24 | — | $0.81 |
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 | $125.1M | $511.0M |
| 总债务越低越好 | $2.1B | $1.8B |
| 股东权益账面价值 | $-732.7M | $730.0M |
| 总资产 | $2.7B | $3.7B |
| 负债/权益比越低杠杆越低 | — | 2.40× |
8季度趋势，按日历期对齐
现金及短期投资CLMTCVI
| Q4 25 | $125.1M | $511.0M | ||
| Q3 25 | $94.6M | $670.0M | ||
| Q2 25 | $110.6M | $596.0M | ||
| Q1 25 | $123.4M | $695.0M | ||
| Q4 24 | — | $987.0M | ||
| Q3 24 | $34.6M | $534.0M | ||
| Q2 24 | $7.0M | $586.0M | ||
| Q1 24 | — | $644.0M |
总债务CLMTCVI
| Q4 25 | $2.1B | $1.8B | ||
| Q3 25 | $2.1B | $1.8B | ||
| Q2 25 | $2.1B | $1.8B | ||
| Q1 25 | $2.3B | $1.9B | ||
| Q4 24 | — | $1.9B | ||
| Q3 24 | $1.7B | $1.6B | ||
| Q2 24 | — | $1.6B | ||
| Q1 24 | — | $1.6B |
股东权益CLMTCVI
| Q4 25 | $-732.7M | $730.0M | ||
| Q3 25 | $-695.3M | $840.0M | ||
| Q2 25 | $-1.0B | $466.0M | ||
| Q1 25 | $-862.3M | $580.0M | ||
| Q4 24 | — | $703.0M | ||
| Q3 24 | $-672.2M | $675.0M | ||
| Q2 24 | $-566.4M | $849.0M | ||
| Q1 24 | — | $879.0M |
总资产CLMTCVI
| Q4 25 | $2.7B | $3.7B | ||
| Q3 25 | $2.7B | $4.0B | ||
| Q2 25 | $2.8B | $4.0B | ||
| Q1 25 | $2.8B | $4.3B | ||
| Q4 24 | — | $4.3B | ||
| Q3 24 | $2.6B | $3.9B | ||
| Q2 24 | $100 | $4.0B | ||
| Q1 24 | — | $4.1B |
负债/权益比CLMTCVI
| Q4 25 | — | 2.40× | ||
| Q3 25 | — | 2.17× | ||
| Q2 25 | — | 3.97× | ||
| Q1 25 | — | 3.29× | ||
| Q4 24 | — | 2.71× | ||
| Q3 24 | — | 2.33× | ||
| Q2 24 | — | 1.86× | ||
| Q1 24 | — | 1.79× |
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 | $116.5M | $0 |
| 自由现金流经营现金流 - 资本支出 | $103.8M | — |
| 自由现金流率自由现金流/营收 | 10.0% | — |
| 资本支出强度资本支出/营收 | 1.2% | 3.0% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $56.6M | — |
8季度趋势，按日历期对齐
经营现金流CLMTCVI
| Q4 25 | $116.5M | $0 | ||
| Q3 25 | $23.5M | $163.0M | ||
| Q2 25 | $-1.8M | $176.0M | ||
| Q1 25 | $-29.3M | $-195.0M | ||
| Q4 24 | — | $98.0M | ||
| Q3 24 | $-15.5M | $48.0M | ||
| Q2 24 | — | $81.0M | ||
| Q1 24 | — | $177.0M |
自由现金流CLMTCVI
| Q4 25 | $103.8M | — | ||
| Q3 25 | $15.1M | $125.0M | ||
| Q2 25 | $-15.4M | $135.0M | ||
| Q1 25 | $-46.9M | $-246.0M | ||
| Q4 24 | — | $43.0M | ||
| Q3 24 | $-32.2M | $14.0M | ||
| Q2 24 | — | $38.0M | ||
| Q1 24 | — | $130.0M |
自由现金流率CLMTCVI
| Q4 25 | 10.0% | — | ||
| Q3 25 | 1.4% | 6.4% | ||
| Q2 25 | -1.5% | 7.7% | ||
| Q1 25 | -4.7% | -14.9% | ||
| Q4 24 | — | 2.2% | ||
| Q3 24 | -2.9% | 0.8% | ||
| Q2 24 | — | 1.9% | ||
| Q1 24 | — | 7.0% |
资本支出强度CLMTCVI
| Q4 25 | 1.2% | 3.0% | ||
| Q3 25 | 0.8% | 2.0% | ||
| Q2 25 | 1.3% | 2.3% | ||
| Q1 25 | 1.8% | 3.1% | ||
| Q4 24 | — | 2.8% | ||
| Q3 24 | 1.5% | 1.9% | ||
| Q2 24 | 2.2% | 2.2% | ||
| Q1 24 | — | 2.5% |
现金转化率CLMTCVI
| Q4 25 | — | — | ||
| Q3 25 | 0.07× | 0.44× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 3.50× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 3.86× | ||
| Q1 24 | — | 2.16× |
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
CLMT
| Specialty Products And Solutions | $675.9M | 65% |
| Montana Renewables | $294.2M | 28% |
| Performance Brands | $68.5M | 7% |
CVI
| Petroleum Segment | $1.6B | 91% |
| Product UAN | $64.0M | 4% |
| Product Ammonia | $51.0M | 3% |
| Renewables Diesel | $27.0M | 1% |
| Product Urea Products | $8.0M | 0% |
| Renewable Fuel Credits | $7.0M | 0% |
