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Calumet, Inc.（CLMT）与RXO, Inc.（RXO）财务数据对比。点击上方公司名可切换其他公司
RXO, Inc.的季度营收约是Calumet, Inc.的1.4倍（$1.5B vs $1.0B），RXO, Inc.净利率更高（-3.1% vs -3.6%，领先0.5%），Calumet, Inc.自由现金流更多（$103.8M vs $-9.0M）
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。
RXO是总部位于美国的头部运输及物流解决方案供应商，核心业务覆盖货运经纪、大件商品最后一公里配送、运输管理服务与全链路供应链优化支持，主要服务北美制造业、零售业及电商领域的客户。
CLMT vs RXO — 直观对比
营收规模更大
RXO
是对方的1.4倍
$1.0B
净利率更高
RXO
高出0.5%
-3.6%
自由现金流更多
CLMT
多$112.8M
$-9.0M
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $1.5B |
| 净利润 | $-37.3M | $-46.0M |
| 毛利率 | -0.3% | — |
| 营业利润率 | -6.2% | -2.9% |
| 净利率 | -3.6% | -3.1% |
| 营收同比 | — | -11.9% |
| 净利润同比 | — | -84.0% |
| 每股收益（稀释后） | $-0.43 | $-0.28 |
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CLMTRXO
| Q4 25 | $1.0B | $1.5B | ||
| Q3 25 | $1.1B | $1.4B | ||
| Q2 25 | $1.0B | $1.4B | ||
| Q1 25 | $993.9M | $1.4B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | $1.1B | $1.0B | ||
| Q2 24 | $1.1B | $930.0M | ||
| Q1 24 | — | $913.0M |
净利润CLMTRXO
| Q4 25 | $-37.3M | $-46.0M | ||
| Q3 25 | $313.4M | $-14.0M | ||
| Q2 25 | $-147.9M | $-9.0M | ||
| Q1 25 | $-162.0M | $-31.0M | ||
| Q4 24 | — | $-25.0M | ||
| Q3 24 | $-100.6M | $-243.0M | ||
| Q2 24 | $-39.1M | $-7.0M | ||
| Q1 24 | — | $-15.0M |
毛利率CLMTRXO
| Q4 25 | -0.3% | — | ||
| Q3 25 | 34.7% | — | ||
| Q2 25 | -4.2% | — | ||
| Q1 25 | -8.2% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.4% | — | ||
| Q2 24 | 5.6% | — | ||
| Q1 24 | — | — |
营业利润率CLMTRXO
| Q4 25 | -6.2% | -2.9% | ||
| Q3 25 | 30.0% | -0.5% | ||
| Q2 25 | -9.8% | — | ||
| Q1 25 | -4.9% | -2.1% | ||
| Q4 24 | — | -1.4% | ||
| Q3 24 | -5.2% | -1.9% | ||
| Q2 24 | 0.5% | — | ||
| Q1 24 | — | -1.3% |
净利率CLMTRXO
| Q4 25 | -3.6% | -3.1% | ||
| Q3 25 | 29.1% | -1.0% | ||
| Q2 25 | -14.4% | -0.6% | ||
| Q1 25 | -16.3% | -2.2% | ||
| Q4 24 | — | -1.5% | ||
| Q3 24 | -9.1% | -23.4% | ||
| Q2 24 | -3.4% | -0.8% | ||
| Q1 24 | — | -1.6% |
每股收益（稀释后）CLMTRXO
| Q4 25 | $-0.43 | $-0.28 | ||
| Q3 25 | $3.61 | $-0.08 | ||
| Q2 25 | $-1.70 | $-0.05 | ||
| Q1 25 | $-1.87 | $-0.18 | ||
| Q4 24 | — | $-0.17 | ||
| Q3 24 | $-1.18 | $-1.81 | ||
| Q2 24 | $-0.48 | $-0.06 | ||
| Q1 24 | — | $-0.13 |
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 | $17.0M |
| 总债务越低越好 | $2.1B | $387.0M |
| 股东权益账面价值 | $-732.7M | $1.5B |
| 总资产 | $2.7B | $3.3B |
| 负债/权益比越低杠杆越低 | — | 0.25× |
8季度趋势，按日历期对齐
现金及短期投资CLMTRXO
| Q4 25 | $125.1M | $17.0M | ||
| Q3 25 | $94.6M | $25.0M | ||
| Q2 25 | $110.6M | $18.0M | ||
| Q1 25 | $123.4M | $16.0M | ||
| Q4 24 | — | $35.0M | ||
| Q3 24 | $34.6M | $55.0M | ||
| Q2 24 | $7.0M | $7.0M | ||
| Q1 24 | — | $7.0M |
总债务CLMTRXO
| Q4 25 | $2.1B | $387.0M | ||
| Q3 25 | $2.1B | $387.0M | ||
| Q2 25 | $2.1B | $387.0M | ||
| Q1 25 | $2.3B | $387.0M | ||
| Q4 24 | — | $351.0M | ||
| Q3 24 | $1.7B | $352.0M | ||
| Q2 24 | — | $370.0M | ||
| Q1 24 | — | $351.0M |
股东权益CLMTRXO
| Q4 25 | $-732.7M | $1.5B | ||
| Q3 25 | $-695.3M | $1.6B | ||
| Q2 25 | $-1.0B | $1.6B | ||
| Q1 25 | $-862.3M | $1.6B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | $-672.2M | $1.7B | ||
| Q2 24 | $-566.4M | $579.0M | ||
| Q1 24 | — | $582.0M |
总资产CLMTRXO
| Q4 25 | $2.7B | $3.3B | ||
| Q3 25 | $2.7B | $3.2B | ||
| Q2 25 | $2.8B | $3.2B | ||
| Q1 25 | $2.8B | $3.3B | ||
| Q4 24 | — | $3.4B | ||
| Q3 24 | $2.6B | $3.4B | ||
| Q2 24 | $100 | $1.8B | ||
| Q1 24 | — | $1.8B |
负债/权益比CLMTRXO
| Q4 25 | — | 0.25× | ||
| Q3 25 | — | 0.24× | ||
| Q2 25 | — | 0.24× | ||
| Q1 25 | — | 0.24× | ||
| Q4 24 | — | 0.22× | ||
| Q3 24 | — | 0.21× | ||
| Q2 24 | — | 0.64× | ||
| Q1 24 | — | 0.60× |
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 | $7.0M |
| 自由现金流经营现金流 - 资本支出 | $103.8M | $-9.0M |
| 自由现金流率自由现金流/营收 | 10.0% | -0.6% |
| 资本支出强度资本支出/营收 | 1.2% | 1.1% |
| 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 | $-8.0M |
8季度趋势，按日历期对齐
经营现金流CLMTRXO
| Q4 25 | $116.5M | $7.0M | ||
| Q3 25 | $23.5M | $23.0M | ||
| Q2 25 | $-1.8M | $23.0M | ||
| Q1 25 | $-29.3M | $-2.0M | ||
| Q4 24 | — | $-7.0M | ||
| Q3 24 | $-15.5M | $-7.0M | ||
| Q2 24 | — | $-5.0M | ||
| Q1 24 | — | $7.0M |
自由现金流CLMTRXO
| Q4 25 | $103.8M | $-9.0M | ||
| Q3 25 | $15.1M | $9.0M | ||
| Q2 25 | $-15.4M | $9.0M | ||
| Q1 25 | $-46.9M | $-17.0M | ||
| Q4 24 | — | $-19.0M | ||
| Q3 24 | $-32.2M | $-18.0M | ||
| Q2 24 | — | $-16.0M | ||
| Q1 24 | — | $-4.0M |
自由现金流率CLMTRXO
| Q4 25 | 10.0% | -0.6% | ||
| Q3 25 | 1.4% | 0.6% | ||
| Q2 25 | -1.5% | 0.6% | ||
| Q1 25 | -4.7% | -1.2% | ||
| Q4 24 | — | -1.1% | ||
| Q3 24 | -2.9% | -1.7% | ||
| Q2 24 | — | -1.7% | ||
| Q1 24 | — | -0.4% |
资本支出强度CLMTRXO
| Q4 25 | 1.2% | 1.1% | ||
| Q3 25 | 0.8% | 1.0% | ||
| Q2 25 | 1.3% | 1.0% | ||
| Q1 25 | 1.8% | 1.0% | ||
| Q4 24 | — | 0.7% | ||
| Q3 24 | 1.5% | 1.1% | ||
| Q2 24 | 2.2% | 1.2% | ||
| Q1 24 | — | 1.2% |
现金转化率CLMTRXO
| 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% |
RXO
| Retail Sector | $546.0M | 37% |
| Last Mile | $298.0M | 20% |
| Food And Beverage Sector | $225.0M | 15% |
| Other Sector | $185.0M | 13% |
| Managed Transportation | $133.0M | 9% |
| Automotive Sector | $93.0M | 6% |
