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Calumet, Inc.（CLMT）与Trade Desk (The)（TTD）财务数据对比。点击上方公司名可切换其他公司
Calumet, Inc.的季度营收约是Trade Desk (The)的1.2倍（$1.0B vs $846.8M），Trade Desk (The)净利率更高（22.1% vs -3.6%，领先25.7%），Trade Desk (The)自由现金流更多（$285.3M vs $103.8M）
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。
The Trade Desk是来自美国的跨国科技企业，专注于实时程序化营销自动化领域的技术、产品与服务研发，可实现面向用户的个性化数字内容分发，为全球广告营销行业客户提供专业解决方案。
CLMT vs TTD — 直观对比
营收规模更大
CLMT
是对方的1.2倍
$846.8M
净利率更高
TTD
高出25.7%
-3.6%
自由现金流更多
TTD
多$181.5M
$103.8M
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $846.8M |
| 净利润 | $-37.3M | $186.9M |
| 毛利率 | -0.3% | 80.7% |
| 营业利润率 | -6.2% | 30.3% |
| 净利率 | -3.6% | 22.1% |
| 营收同比 | — | 14.3% |
| 净利润同比 | — | 2.6% |
| 每股收益（稀释后） | $-0.43 | $0.39 |
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CLMTTTD
| Q4 25 | $1.0B | $846.8M | ||
| Q3 25 | $1.1B | $739.4M | ||
| Q2 25 | $1.0B | $694.0M | ||
| Q1 25 | $993.9M | $616.0M | ||
| Q4 24 | — | $741.0M | ||
| Q3 24 | $1.1B | $628.0M | ||
| Q2 24 | $1.1B | $584.5M | ||
| Q1 24 | — | $491.3M |
净利润CLMTTTD
| Q4 25 | $-37.3M | $186.9M | ||
| Q3 25 | $313.4M | $115.5M | ||
| Q2 25 | $-147.9M | $90.1M | ||
| Q1 25 | $-162.0M | $50.7M | ||
| Q4 24 | — | $182.2M | ||
| Q3 24 | $-100.6M | $94.2M | ||
| Q2 24 | $-39.1M | $85.0M | ||
| Q1 24 | — | $31.7M |
毛利率CLMTTTD
| Q4 25 | -0.3% | 80.7% | ||
| Q3 25 | 34.7% | 78.1% | ||
| Q2 25 | -4.2% | 78.2% | ||
| Q1 25 | -8.2% | 76.8% | ||
| Q4 24 | — | 81.7% | ||
| Q3 24 | 0.4% | 80.5% | ||
| Q2 24 | 5.6% | 81.1% | ||
| Q1 24 | — | 78.9% |
营业利润率CLMTTTD
| Q4 25 | -6.2% | 30.3% | ||
| Q3 25 | 30.0% | 21.8% | ||
| Q2 25 | -9.8% | 16.8% | ||
| Q1 25 | -4.9% | 8.8% | ||
| Q4 24 | — | 26.4% | ||
| Q3 24 | -5.2% | 17.3% | ||
| Q2 24 | 0.5% | 16.2% | ||
| Q1 24 | — | 5.8% |
净利率CLMTTTD
| Q4 25 | -3.6% | 22.1% | ||
| Q3 25 | 29.1% | 15.6% | ||
| Q2 25 | -14.4% | 13.0% | ||
| Q1 25 | -16.3% | 8.2% | ||
| Q4 24 | — | 24.6% | ||
| Q3 24 | -9.1% | 15.0% | ||
| Q2 24 | -3.4% | 14.5% | ||
| Q1 24 | — | 6.4% |
每股收益（稀释后）CLMTTTD
| Q4 25 | $-0.43 | $0.39 | ||
| Q3 25 | $3.61 | $0.23 | ||
| Q2 25 | $-1.70 | $0.18 | ||
| Q1 25 | $-1.87 | $0.10 | ||
| Q4 24 | — | $0.36 | ||
| Q3 24 | $-1.18 | $0.19 | ||
| Q2 24 | $-0.48 | $0.17 | ||
| Q1 24 | — | $0.06 |
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 | $1.3B |
| 总债务越低越好 | $2.1B | — |
| 股东权益账面价值 | $-732.7M | $2.5B |
| 总资产 | $2.7B | $6.2B |
| 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CLMTTTD
| Q4 25 | $125.1M | $1.3B | ||
| Q3 25 | $94.6M | $1.4B | ||
| Q2 25 | $110.6M | $1.7B | ||
| Q1 25 | $123.4M | $1.7B | ||
| Q4 24 | — | $1.9B | ||
| Q3 24 | $34.6M | $1.7B | ||
| Q2 24 | $7.0M | $1.5B | ||
| Q1 24 | — | $1.4B |
总债务CLMTTTD
| Q4 25 | $2.1B | — | ||
| Q3 25 | $2.1B | — | ||
| Q2 25 | $2.1B | — | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $1.7B | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益CLMTTTD
| Q4 25 | $-732.7M | $2.5B | ||
| Q3 25 | $-695.3M | $2.6B | ||
| Q2 25 | $-1.0B | $2.7B | ||
| Q1 25 | $-862.3M | $2.7B | ||
| Q4 24 | — | $2.9B | ||
| Q3 24 | $-672.2M | $2.6B | ||
| Q2 24 | $-566.4M | $2.4B | ||
| Q1 24 | — | $2.2B |
总资产CLMTTTD
| Q4 25 | $2.7B | $6.2B | ||
| Q3 25 | $2.7B | $5.9B | ||
| Q2 25 | $2.8B | $6.0B | ||
| Q1 25 | $2.8B | $5.7B | ||
| Q4 24 | — | $6.1B | ||
| Q3 24 | $2.6B | $5.5B | ||
| Q2 24 | $100 | $5.2B | ||
| Q1 24 | — | $4.7B |
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 | $311.6M |
| 自由现金流经营现金流 - 资本支出 | $103.8M | $285.3M |
| 自由现金流率自由现金流/营收 | 10.0% | 33.7% |
| 资本支出强度资本支出/营收 | 1.2% | 3.1% |
| 现金转化率经营现金流/净利润 | — | 1.67× |
| 过去12个月自由现金流最近4个季度 | $56.6M | $795.7M |
8季度趋势，按日历期对齐
经营现金流CLMTTTD
| Q4 25 | $116.5M | $311.6M | ||
| Q3 25 | $23.5M | $224.7M | ||
| Q2 25 | $-1.8M | $165.0M | ||
| Q1 25 | $-29.3M | $291.4M | ||
| Q4 24 | — | $199.4M | ||
| Q3 24 | $-15.5M | $273.3M | ||
| Q2 24 | — | $81.3M | ||
| Q1 24 | — | $185.5M |
自由现金流CLMTTTD
| Q4 25 | $103.8M | $285.3M | ||
| Q3 25 | $15.1M | $158.3M | ||
| Q2 25 | $-15.4M | $119.8M | ||
| Q1 25 | $-46.9M | $232.3M | ||
| Q4 24 | — | $179.2M | ||
| Q3 24 | $-32.2M | $224.6M | ||
| Q2 24 | — | $59.1M | ||
| Q1 24 | — | $178.2M |
自由现金流率CLMTTTD
| Q4 25 | 10.0% | 33.7% | ||
| Q3 25 | 1.4% | 21.4% | ||
| Q2 25 | -1.5% | 17.3% | ||
| Q1 25 | -4.7% | 37.7% | ||
| Q4 24 | — | 24.2% | ||
| Q3 24 | -2.9% | 35.8% | ||
| Q2 24 | — | 10.1% | ||
| Q1 24 | — | 36.3% |
资本支出强度CLMTTTD
| Q4 25 | 1.2% | 3.1% | ||
| Q3 25 | 0.8% | 9.0% | ||
| Q2 25 | 1.3% | 6.5% | ||
| Q1 25 | 1.8% | 9.6% | ||
| Q4 24 | — | 2.7% | ||
| Q3 24 | 1.5% | 7.8% | ||
| Q2 24 | 2.2% | 3.8% | ||
| Q1 24 | — | 1.5% |
现金转化率CLMTTTD
| Q4 25 | — | 1.67× | ||
| Q3 25 | 0.07× | 1.94× | ||
| Q2 25 | — | 1.83× | ||
| Q1 25 | — | 5.75× | ||
| Q4 24 | — | 1.09× | ||
| Q3 24 | — | 2.90× | ||
| Q2 24 | — | 0.96× | ||
| Q1 24 | — | 5.86× |
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
CLMT
| Specialty Products And Solutions | $675.9M | 65% |
| Montana Renewables | $294.2M | 28% |
| Performance Brands | $68.5M | 7% |
TTD
| Other | $427.2M | 50% |
| Non Us | $419.6M | 50% |
