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Calumet, Inc.（CLMT）与Rivian Automotive, Inc.（RIVN）财务数据对比。点击上方公司名可切换其他公司
Rivian Automotive, Inc.的季度营收约是Calumet, Inc.的1.2倍（$1.3B vs $1.0B），Calumet, Inc.净利率更高（-3.6% vs -63.1%，领先59.5%），Calumet, Inc.自由现金流更多（$103.8M vs $-1.1B）
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。
Rivian Automotive是2009年成立的美国电动汽车制造商及汽车科技企业，主打基于自研滑板平台打造的电动SUV、皮卡及EDV电动配送货车，旗下R1T皮卡于2021年末正式开启交付，还计划于2023年底前在美国和加拿大布局专属充电网络，其平台可适配新车型也可对外授权使用。
CLMT vs RIVN — 直观对比
营收规模更大
RIVN
是对方的1.2倍
$1.0B
净利率更高
CLMT
高出59.5%
-63.1%
自由现金流更多
CLMT
多$1.2B
$-1.1B
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $1.3B |
| 净利润 | $-37.3M | $-811.0M |
| 毛利率 | -0.3% | 9.3% |
| 营业利润率 | -6.2% | -64.8% |
| 净利率 | -3.6% | -63.1% |
| 营收同比 | — | -25.8% |
| 净利润同比 | — | -9.0% |
| 每股收益（稀释后） | $-0.43 | $-0.66 |
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CLMTRIVN
| Q4 25 | $1.0B | $1.3B | ||
| Q3 25 | $1.1B | $1.6B | ||
| Q2 25 | $1.0B | $1.3B | ||
| Q1 25 | $993.9M | $1.2B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | $1.1B | $874.0M | ||
| Q2 24 | $1.1B | $1.2B | ||
| Q1 24 | — | $1.2B |
净利润CLMTRIVN
| Q4 25 | $-37.3M | $-811.0M | ||
| Q3 25 | $313.4M | $-1.2B | ||
| Q2 25 | $-147.9M | $-1.1B | ||
| Q1 25 | $-162.0M | $-545.0M | ||
| Q4 24 | — | $-744.0M | ||
| Q3 24 | $-100.6M | $-1.1B | ||
| Q2 24 | $-39.1M | $-1.5B | ||
| Q1 24 | — | $-1.4B |
毛利率CLMTRIVN
| Q4 25 | -0.3% | 9.3% | ||
| Q3 25 | 34.7% | 1.5% | ||
| Q2 25 | -4.2% | -15.8% | ||
| Q1 25 | -8.2% | 16.6% | ||
| Q4 24 | — | 9.8% | ||
| Q3 24 | 0.4% | -44.9% | ||
| Q2 24 | 5.6% | -38.9% | ||
| Q1 24 | — | -43.8% |
营业利润率CLMTRIVN
| Q4 25 | -6.2% | -64.8% | ||
| Q3 25 | 30.0% | -63.1% | ||
| Q2 25 | -9.8% | -85.5% | ||
| Q1 25 | -4.9% | -52.8% | ||
| Q4 24 | — | -38.1% | ||
| Q3 24 | -5.2% | -133.8% | ||
| Q2 24 | 0.5% | -118.7% | ||
| Q1 24 | — | -123.3% |
净利率CLMTRIVN
| Q4 25 | -3.6% | -63.1% | ||
| Q3 25 | 29.1% | -75.3% | ||
| Q2 25 | -14.4% | -85.7% | ||
| Q1 25 | -16.3% | -44.0% | ||
| Q4 24 | — | -42.9% | ||
| Q3 24 | -9.1% | -125.9% | ||
| Q2 24 | -3.4% | -125.8% | ||
| Q1 24 | — | -120.1% |
每股收益（稀释后）CLMTRIVN
| Q4 25 | $-0.43 | $-0.66 | ||
| Q3 25 | $3.61 | $-0.96 | ||
| Q2 25 | $-1.70 | $-0.97 | ||
| Q1 25 | $-1.87 | $-0.48 | ||
| Q4 24 | — | $-0.67 | ||
| Q3 24 | $-1.18 | $-1.08 | ||
| Q2 24 | $-0.48 | $-1.46 | ||
| Q1 24 | — | $-1.48 |
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 | $6.1B |
| 总债务越低越好 | $2.1B | — |
| 股东权益账面价值 | $-732.7M | $4.6B |
| 总资产 | $2.7B | $14.9B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资CLMTRIVN
| Q4 25 | $125.1M | $6.1B | ||
| Q3 25 | $94.6M | $7.1B | ||
| Q2 25 | $110.6M | $7.5B | ||
| Q1 25 | $123.4M | $7.2B | ||
| Q4 24 | — | $7.7B | ||
| Q3 24 | $34.6M | $6.7B | ||
| Q2 24 | $7.0M | $7.9B | ||
| Q1 24 | — | $7.9B |
总债务CLMTRIVN
| Q4 25 | $2.1B | — | ||
| Q3 25 | $2.1B | — | ||
| Q2 25 | $2.1B | — | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $1.7B | — | ||
| Q2 24 | — | $5.5B | ||
| Q1 24 | — | $4.4B |
股东权益CLMTRIVN
| Q4 25 | $-732.7M | $4.6B | ||
| Q3 25 | $-695.3M | $5.1B | ||
| Q2 25 | $-1.0B | $6.1B | ||
| Q1 25 | $-862.3M | $6.2B | ||
| Q4 24 | — | $6.6B | ||
| Q3 24 | $-672.2M | $5.9B | ||
| Q2 24 | $-566.4M | $6.8B | ||
| Q1 24 | — | $8.1B |
总资产CLMTRIVN
| Q4 25 | $2.7B | $14.9B | ||
| Q3 25 | $2.7B | $15.2B | ||
| Q2 25 | $2.8B | $15.6B | ||
| Q1 25 | $2.8B | $15.5B | ||
| Q4 24 | — | $15.4B | ||
| Q3 24 | $2.6B | $14.3B | ||
| Q2 24 | $100 | $15.4B | ||
| Q1 24 | — | $15.7B |
负债/权益比CLMTRIVN
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.81× | ||
| Q1 24 | — | 0.55× |
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 | $-681.0M |
| 自由现金流经营现金流 - 资本支出 | $103.8M | $-1.1B |
| 自由现金流率自由现金流/营收 | 10.0% | -89.0% |
| 资本支出强度资本支出/营收 | 1.2% | 36.0% |
| 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 | $-2.5B |
8季度趋势，按日历期对齐
经营现金流CLMTRIVN
| Q4 25 | $116.5M | $-681.0M | ||
| Q3 25 | $23.5M | $26.0M | ||
| Q2 25 | $-1.8M | $64.0M | ||
| Q1 25 | $-29.3M | $-188.0M | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | $-15.5M | $-876.0M | ||
| Q2 24 | — | $-754.0M | ||
| Q1 24 | — | $-1.3B |
自由现金流CLMTRIVN
| Q4 25 | $103.8M | $-1.1B | ||
| Q3 25 | $15.1M | $-421.0M | ||
| Q2 25 | $-15.4M | $-398.0M | ||
| Q1 25 | $-46.9M | $-526.0M | ||
| Q4 24 | — | $856.0M | ||
| Q3 24 | $-32.2M | $-1.2B | ||
| Q2 24 | — | $-1.0B | ||
| Q1 24 | — | $-1.5B |
自由现金流率CLMTRIVN
| Q4 25 | 10.0% | -89.0% | ||
| Q3 25 | 1.4% | -27.0% | ||
| Q2 25 | -1.5% | -30.5% | ||
| Q1 25 | -4.7% | -42.4% | ||
| Q4 24 | — | 49.4% | ||
| Q3 24 | -2.9% | -131.9% | ||
| Q2 24 | — | -89.6% | ||
| Q1 24 | — | -126.5% |
资本支出强度CLMTRIVN
| Q4 25 | 1.2% | 36.0% | ||
| Q3 25 | 0.8% | 28.7% | ||
| Q2 25 | 1.3% | 35.5% | ||
| Q1 25 | 1.8% | 27.3% | ||
| Q4 24 | — | 18.9% | ||
| Q3 24 | 1.5% | 31.7% | ||
| Q2 24 | 2.2% | 24.4% | ||
| Q1 24 | — | 21.1% |
现金转化率CLMTRIVN
| Q4 25 | — | — | ||
| Q3 25 | 0.07× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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% |
RIVN
| Automotive Segment | $839.0M | 65% |
| Software And Services Segment | $447.0M | 35% |
| Regulatory Credits | $30.0M | 2% |
