vs
COMMERCIAL METALS Co（CMC）与Entergy（ETR）财务数据对比。点击上方公司名可切换其他公司
Entergy的季度营收约是COMMERCIAL METALS Co的1.4倍（$3.0B vs $2.1B），COMMERCIAL METALS Co净利率更高（8.4% vs 8.1%，领先0.2%），COMMERCIAL METALS Co同比增速更快（11.0% vs 7.9%），COMMERCIAL METALS Co自由现金流更多（$78.8M vs $-909.7M），过去两年COMMERCIAL METALS Co的营收复合增速更高（7.1% vs 2.9%）
商业金属公司（CMC）总部位于美国得克萨斯州欧文市，主营钢筋及相关建筑材料，与纽柯公司同为美国房屋、桥梁、道路等基础设施领域混凝土加固用钢材的两大核心供应商，旗下还拥有地基系统生产商Tensar，产品可用于道路、公共基建及工业设施建设。
Entergy是美国能源企业，主营电力生产及零售配送业务，服务覆盖美国南部腹地，总部设于路易斯安那州新奥尔良。公司为阿肯色、路易斯安那、密西西比、得克萨斯四州共300万用户供电，发电装机容量约24000兆瓦，年营收110亿美元，员工规模超12000人。
CMC vs ETR — 直观对比
营收规模更大
ETR
是对方的1.4倍
$2.1B
营收增速更快
CMC
高出3.1%
7.9%
净利率更高
CMC
高出0.2%
8.1%
自由现金流更多
CMC
多$988.5M
$-909.7M
两年增速更快
CMC
近两年复合增速
2.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $3.0B |
| 净利润 | $177.3M | $240.5M |
| 毛利率 | 19.2% | — |
| 营业利润率 | 8.6% | 18.4% |
| 净利率 | 8.4% | 8.1% |
| 营收同比 | 11.0% | 7.9% |
| 净利润同比 | 200.9% | -16.2% |
| 每股收益（稀释后） | $1.58 | $0.51 |
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CMCETR
| Q4 25 | $2.1B | $3.0B | ||
| Q3 25 | $2.1B | $3.8B | ||
| Q2 25 | $2.0B | $3.3B | ||
| Q1 25 | $1.8B | $2.8B | ||
| Q4 24 | $1.9B | $2.7B | ||
| Q3 24 | $2.0B | $3.4B | ||
| Q2 24 | $2.1B | $3.0B | ||
| Q1 24 | $1.8B | $2.8B |
净利润CMCETR
| Q4 25 | $177.3M | $240.5M | ||
| Q3 25 | $151.8M | $698.4M | ||
| Q2 25 | $83.1M | $472.0M | ||
| Q1 25 | $25.5M | $362.4M | ||
| Q4 24 | $-175.7M | $287.2M | ||
| Q3 24 | $103.9M | $645.8M | ||
| Q2 24 | $119.4M | $51.7M | ||
| Q1 24 | $85.8M | $76.5M |
毛利率CMCETR
| Q4 25 | 19.2% | — | ||
| Q3 25 | 18.6% | — | ||
| Q2 25 | 14.8% | — | ||
| Q1 25 | 12.5% | — | ||
| Q4 24 | 16.1% | — | ||
| Q3 24 | 16.2% | — | ||
| Q2 24 | 16.4% | — | ||
| Q1 24 | 16.0% | — |
营业利润率CMCETR
| Q4 25 | 8.6% | 18.4% | ||
| Q3 25 | 9.1% | 29.4% | ||
| Q2 25 | 5.4% | 25.2% | ||
| Q1 25 | 2.1% | 24.6% | ||
| Q4 24 | -12.1% | 24.4% | ||
| Q3 24 | 6.7% | 33.2% | ||
| Q2 24 | 7.7% | 20.9% | ||
| Q1 24 | 6.3% | 8.5% |
净利率CMCETR
| Q4 25 | 8.4% | 8.1% | ||
| Q3 25 | 7.2% | 18.3% | ||
| Q2 25 | 4.1% | 14.2% | ||
| Q1 25 | 1.5% | 12.7% | ||
| Q4 24 | -9.2% | 10.5% | ||
| Q3 24 | 5.2% | 19.1% | ||
| Q2 24 | 5.7% | 1.8% | ||
| Q1 24 | 4.6% | 2.7% |
每股收益（稀释后）CMCETR
| Q4 25 | $1.58 | $0.51 | ||
| Q3 25 | $1.33 | $1.53 | ||
| Q2 25 | $0.73 | $1.05 | ||
| Q1 25 | $0.22 | $0.82 | ||
| Q4 24 | $-1.54 | $0.66 | ||
| Q3 24 | $0.90 | $1.50 | ||
| Q2 24 | $1.02 | $0.11 | ||
| Q1 24 | $0.73 | $0.18 |
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 | $1.0B | $1.9B |
| 总债务越低越好 | $3.3B | $30.3B |
| 股东权益账面价值 | $4.3B | $16.9B |
| 总资产 | $9.2B | $71.9B |
| 负债/权益比越低杠杆越低 | 0.77× | 1.79× |
8季度趋势，按日历期对齐
现金及短期投资CMCETR
| Q4 25 | $1.0B | $1.9B | ||
| Q3 25 | $1.0B | $1.5B | ||
| Q2 25 | $893.0M | $1.2B | ||
| Q1 25 | $758.4M | $1.5B | ||
| Q4 24 | $856.1M | $859.7M | ||
| Q3 24 | $857.9M | $1.4B | ||
| Q2 24 | $698.3M | $1.4B | ||
| Q1 24 | $638.3M | $1.3B |
总债务CMCETR
| Q4 25 | $3.3B | $30.3B | ||
| Q3 25 | $1.3B | $29.0B | ||
| Q2 25 | $1.3B | $29.9B | ||
| Q1 25 | $1.2B | $29.6B | ||
| Q4 24 | $1.1B | $28.0B | ||
| Q3 24 | $1.2B | $27.9B | ||
| Q2 24 | $1.1B | $27.8B | ||
| Q1 24 | $1.1B | $26.5B |
股东权益CMCETR
| Q4 25 | $4.3B | $16.9B | ||
| Q3 25 | $4.2B | $16.7B | ||
| Q2 25 | $4.1B | $16.2B | ||
| Q1 25 | $4.0B | $15.2B | ||
| Q4 24 | $4.0B | $15.1B | ||
| Q3 24 | $4.3B | $15.0B | ||
| Q2 24 | $4.3B | $14.6B | ||
| Q1 24 | $4.2B | $14.5B |
总资产CMCETR
| Q4 25 | $9.2B | $71.9B | ||
| Q3 25 | $7.2B | $69.8B | ||
| Q2 25 | $7.0B | $68.4B | ||
| Q1 25 | $6.7B | $66.6B | ||
| Q4 24 | $6.8B | $64.8B | ||
| Q3 24 | $6.8B | $64.5B | ||
| Q2 24 | $6.7B | $62.8B | ||
| Q1 24 | $6.7B | $61.6B |
负债/权益比CMCETR
| Q4 25 | 0.77× | 1.79× | ||
| Q3 25 | 0.31× | 1.74× | ||
| Q2 25 | 0.32× | 1.85× | ||
| Q1 25 | 0.29× | 1.95× | ||
| Q4 24 | 0.29× | 1.86× | ||
| Q3 24 | 0.27× | 1.85× | ||
| Q2 24 | 0.27× | 1.91× | ||
| Q1 24 | 0.27× | 1.83× |
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 | $204.2M | $1.2B |
| 自由现金流经营现金流 - 资本支出 | $78.8M | $-909.7M |
| 自由现金流率自由现金流/营收 | 3.7% | -30.7% |
| 资本支出强度资本支出/营收 | 5.9% | 71.9% |
| 现金转化率经营现金流/净利润 | 1.15× | 5.06× |
| 过去12个月自由现金流最近4个季度 | $296.2M | $-2.5B |
8季度趋势，按日历期对齐
经营现金流CMCETR
| Q4 25 | $204.2M | $1.2B | ||
| Q3 25 | $315.2M | $2.1B | ||
| Q2 25 | $154.4M | $1.3B | ||
| Q1 25 | $32.4M | $536.2M | ||
| Q4 24 | $213.0M | $1.4B | ||
| Q3 24 | $351.8M | $1.6B | ||
| Q2 24 | $197.9M | $1.0B | ||
| Q1 24 | $89.0M | $521.1M |
自由现金流CMCETR
| Q4 25 | $78.8M | $-909.7M | ||
| Q3 25 | $206.3M | $246.0M | ||
| Q2 25 | $65.0M | $-746.6M | ||
| Q1 25 | $-53.8M | $-1.1B | ||
| Q4 24 | $94.8M | $-193.8M | ||
| Q3 24 | $270.3M | $421.8M | ||
| Q2 24 | $115.8M | $-137.8M | ||
| Q1 24 | $-4.8M | $-440.1M |
自由现金流率CMCETR
| Q4 25 | 3.7% | -30.7% | ||
| Q3 25 | 9.8% | 6.5% | ||
| Q2 25 | 3.2% | -22.4% | ||
| Q1 25 | -3.1% | -39.5% | ||
| Q4 24 | 5.0% | -7.1% | ||
| Q3 24 | 13.5% | 12.4% | ||
| Q2 24 | 5.6% | -4.7% | ||
| Q1 24 | -0.3% | -15.7% |
资本支出强度CMCETR
| Q4 25 | 5.9% | 71.9% | ||
| Q3 25 | 5.2% | 49.5% | ||
| Q2 25 | 4.4% | 60.3% | ||
| Q1 25 | 4.9% | 58.3% | ||
| Q4 24 | 6.2% | 57.4% | ||
| Q3 24 | 4.1% | 33.7% | ||
| Q2 24 | 3.9% | 39.4% | ||
| Q1 24 | 5.1% | 34.4% |
现金转化率CMCETR
| Q4 25 | 1.15× | 5.06× | ||
| Q3 25 | 2.08× | 3.06× | ||
| Q2 25 | 1.86× | 2.67× | ||
| Q1 25 | 1.27× | 1.48× | ||
| Q4 24 | — | 4.80× | ||
| Q3 24 | 3.39× | 2.42× | ||
| Q2 24 | 1.66× | 19.82× | ||
| Q1 24 | 1.04× | 6.81× |
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
CMC
| Steel Products | $670.8M | 32% |
| Downstream Products | $505.3M | 24% |
| Construction Solutions Group | $314.4M | 15% |
| Europe Steel Group | $200.0M | 9% |
| Precast Products | $141.6M | 7% |
| Construction Products | $78.4M | 4% |
| Foley Products Company LLC | $75.1M | 4% |
| Concrete Pipe And Precast LLC | $69.4M | 3% |
| Ground Stabilization Products | $49.9M | 2% |
ETR
| Electricity Us Regulated | $2.9B | 100% |
| Other | $13.7M | 0% |
