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COMMERCIAL METALS Co（CMC）与COMFORT SYSTEMS USA INC（FIX）财务数据对比。点击上方公司名可切换其他公司
COMFORT SYSTEMS USA INC的季度营收约是COMMERCIAL METALS Co的1.2倍（$2.6B vs $2.1B），COMFORT SYSTEMS USA INC净利率更高（12.5% vs 8.4%，领先4.1%），COMFORT SYSTEMS USA INC同比增速更快（41.7% vs 11.0%），COMFORT SYSTEMS USA INC自由现金流更多（$402.4M vs $78.8M），过去两年COMFORT SYSTEMS USA INC的营收复合增速更高（31.2% vs 7.1%）
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。
Comfort Systems USA Inc.是一家美国企业，主营机电工程承包服务，核心业务覆盖暖通空调、给排水、管道工程、控制系统、场外预制建造、监测服务、消防系统，以及电气系统的安装与运维，为各类客户提供一体化机电设施解决方案。
CMC vs FIX — 直观对比
营收规模更大
FIX
是对方的1.2倍
$2.1B
营收增速更快
FIX
高出30.6%
11.0%
净利率更高
FIX
高出4.1%
8.4%
自由现金流更多
FIX
多$323.7M
$78.8M
两年增速更快
FIX
近两年复合增速
7.1%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $2.6B |
| 净利润 | $177.3M | $330.8M |
| 毛利率 | 19.2% | 25.5% |
| 营业利润率 | 8.6% | 16.1% |
| 净利率 | 8.4% | 12.5% |
| 营收同比 | 11.0% | 41.7% |
| 净利润同比 | 200.9% | 126.8% |
| 每股收益（稀释后） | $1.58 | $9.35 |
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CMCFIX
| Q4 25 | $2.1B | $2.6B | ||
| Q3 25 | $2.1B | $2.5B | ||
| Q2 25 | $2.0B | $2.2B | ||
| Q1 25 | $1.8B | $1.8B | ||
| Q4 24 | $1.9B | $1.9B | ||
| Q3 24 | $2.0B | $1.8B | ||
| Q2 24 | $2.1B | $1.8B | ||
| Q1 24 | $1.8B | $1.5B |
净利润CMCFIX
| Q4 25 | $177.3M | $330.8M | ||
| Q3 25 | $151.8M | $291.6M | ||
| Q2 25 | $83.1M | $230.8M | ||
| Q1 25 | $25.5M | $169.3M | ||
| Q4 24 | $-175.7M | $145.9M | ||
| Q3 24 | $103.9M | $146.2M | ||
| Q2 24 | $119.4M | $134.0M | ||
| Q1 24 | $85.8M | $96.3M |
毛利率CMCFIX
| Q4 25 | 19.2% | 25.5% | ||
| Q3 25 | 18.6% | 24.8% | ||
| Q2 25 | 14.8% | 23.5% | ||
| Q1 25 | 12.5% | 22.0% | ||
| Q4 24 | 16.1% | 23.2% | ||
| Q3 24 | 16.2% | 21.1% | ||
| Q2 24 | 16.4% | 20.1% | ||
| Q1 24 | 16.0% | 19.3% |
营业利润率CMCFIX
| Q4 25 | 8.6% | 16.1% | ||
| Q3 25 | 9.1% | 15.5% | ||
| Q2 25 | 5.4% | 13.8% | ||
| Q1 25 | 2.1% | 11.4% | ||
| Q4 24 | -12.1% | 12.1% | ||
| Q3 24 | 6.7% | 11.2% | ||
| Q2 24 | 7.7% | 10.2% | ||
| Q1 24 | 6.3% | 8.8% |
净利率CMCFIX
| Q4 25 | 8.4% | 12.5% | ||
| Q3 25 | 7.2% | 11.9% | ||
| Q2 25 | 4.1% | 10.6% | ||
| Q1 25 | 1.5% | 9.2% | ||
| Q4 24 | -9.2% | 7.8% | ||
| Q3 24 | 5.2% | 8.1% | ||
| Q2 24 | 5.7% | 7.4% | ||
| Q1 24 | 4.6% | 6.3% |
每股收益（稀释后）CMCFIX
| Q4 25 | $1.58 | $9.35 | ||
| Q3 25 | $1.33 | $8.25 | ||
| Q2 25 | $0.73 | $6.53 | ||
| Q1 25 | $0.22 | $4.75 | ||
| Q4 24 | $-1.54 | $4.08 | ||
| Q3 24 | $0.90 | $4.09 | ||
| Q2 24 | $1.02 | $3.74 | ||
| Q1 24 | $0.73 | $2.69 |
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 | $981.9M |
| 总债务越低越好 | $3.3B | $145.2M |
| 股东权益账面价值 | $4.3B | $2.4B |
| 总资产 | $9.2B | $6.4B |
| 负债/权益比越低杠杆越低 | 0.77× | 0.06× |
8季度趋势，按日历期对齐
现金及短期投资CMCFIX
| Q4 25 | $1.0B | $981.9M | ||
| Q3 25 | $1.0B | $860.5M | ||
| Q2 25 | $893.0M | $331.7M | ||
| Q1 25 | $758.4M | $204.8M | ||
| Q4 24 | $856.1M | $549.9M | ||
| Q3 24 | $857.9M | $415.6M | ||
| Q2 24 | $698.3M | $199.4M | ||
| Q1 24 | $638.3M | $100.8M |
总债务CMCFIX
| Q4 25 | $3.3B | $145.2M | ||
| Q3 25 | $1.3B | $136.0M | ||
| Q2 25 | $1.3B | $73.0M | ||
| Q1 25 | $1.2B | $67.8M | ||
| Q4 24 | $1.1B | $68.3M | ||
| Q3 24 | $1.2B | $62.3M | ||
| Q2 24 | $1.1B | $73.4M | ||
| Q1 24 | $1.1B | $77.0M |
股东权益CMCFIX
| Q4 25 | $4.3B | $2.4B | ||
| Q3 25 | $4.2B | $2.2B | ||
| Q2 25 | $4.1B | $2.0B | ||
| Q1 25 | $4.0B | $1.8B | ||
| Q4 24 | $4.0B | $1.7B | ||
| Q3 24 | $4.3B | $1.6B | ||
| Q2 24 | $4.3B | $1.5B | ||
| Q1 24 | $4.2B | $1.4B |
总资产CMCFIX
| Q4 25 | $9.2B | $6.4B | ||
| Q3 25 | $7.2B | $5.8B | ||
| Q2 25 | $7.0B | $5.1B | ||
| Q1 25 | $6.7B | $4.6B | ||
| Q4 24 | $6.8B | $4.7B | ||
| Q3 24 | $6.8B | $4.4B | ||
| Q2 24 | $6.7B | $4.2B | ||
| Q1 24 | $6.7B | $3.9B |
负债/权益比CMCFIX
| Q4 25 | 0.77× | 0.06× | ||
| Q3 25 | 0.31× | 0.06× | ||
| Q2 25 | 0.32× | 0.04× | ||
| Q1 25 | 0.29× | 0.04× | ||
| Q4 24 | 0.29× | 0.04× | ||
| Q3 24 | 0.27× | 0.04× | ||
| Q2 24 | 0.27× | 0.05× | ||
| Q1 24 | 0.27× | 0.06× |
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 | $468.5M |
| 自由现金流经营现金流 - 资本支出 | $78.8M | $402.4M |
| 自由现金流率自由现金流/营收 | 3.7% | 15.2% |
| 资本支出强度资本支出/营收 | 5.9% | 2.5% |
| 现金转化率经营现金流/净利润 | 1.15× | 1.42× |
| 过去12个月自由现金流最近4个季度 | $296.2M | $1.0B |
8季度趋势，按日历期对齐
经营现金流CMCFIX
| Q4 25 | $204.2M | $468.5M | ||
| Q3 25 | $315.2M | $553.3M | ||
| Q2 25 | $154.4M | $252.5M | ||
| Q1 25 | $32.4M | $-88.0M | ||
| Q4 24 | $213.0M | $210.5M | ||
| Q3 24 | $351.8M | $302.2M | ||
| Q2 24 | $197.9M | $189.9M | ||
| Q1 24 | $89.0M | $146.6M |
自由现金流CMCFIX
| Q4 25 | $78.8M | $402.4M | ||
| Q3 25 | $206.3M | $517.9M | ||
| Q2 25 | $65.0M | $221.2M | ||
| Q1 25 | $-53.8M | $-110.2M | ||
| Q4 24 | $94.8M | $169.8M | ||
| Q3 24 | $270.3M | $280.1M | ||
| Q2 24 | $115.8M | $166.5M | ||
| Q1 24 | $-4.8M | $121.6M |
自由现金流率CMCFIX
| Q4 25 | 3.7% | 15.2% | ||
| Q3 25 | 9.8% | 21.1% | ||
| Q2 25 | 3.2% | 10.2% | ||
| Q1 25 | -3.1% | -6.0% | ||
| Q4 24 | 5.0% | 9.1% | ||
| Q3 24 | 13.5% | 15.5% | ||
| Q2 24 | 5.6% | 9.2% | ||
| Q1 24 | -0.3% | 7.9% |
资本支出强度CMCFIX
| Q4 25 | 5.9% | 2.5% | ||
| Q3 25 | 5.2% | 1.4% | ||
| Q2 25 | 4.4% | 1.4% | ||
| Q1 25 | 4.9% | 1.2% | ||
| Q4 24 | 6.2% | 2.2% | ||
| Q3 24 | 4.1% | 1.2% | ||
| Q2 24 | 3.9% | 1.3% | ||
| Q1 24 | 5.1% | 1.6% |
现金转化率CMCFIX
| Q4 25 | 1.15× | 1.42× | ||
| Q3 25 | 2.08× | 1.90× | ||
| Q2 25 | 1.86× | 1.09× | ||
| Q1 25 | 1.27× | -0.52× | ||
| Q4 24 | — | 1.44× | ||
| Q3 24 | 3.39× | 2.07× | ||
| Q2 24 | 1.66× | 1.42× | ||
| Q1 24 | 1.04× | 1.52× |
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% |
FIX
| Electrical Segment | $823.7M | 31% |
| Manufacturing Customer | $542.7M | 21% |
| Existing Building Construction | $491.4M | 19% |
| Healthcare Sector Customer | $220.8M | 8% |
| Service Projects | $153.0M | 6% |
| Education | $137.5M | 5% |
| Government Customer | $131.0M | 5% |
| Office Building Customer | $88.2M | 3% |
| Other Customer | $40.7M | 2% |
| Multi Family And Residential | $33.7M | 1% |
