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COMMERCIAL METALS Co（CMC）与RYDER SYSTEM INC（R）财务数据对比。点击上方公司名可切换其他公司
RYDER SYSTEM INC的季度营收约是COMMERCIAL METALS Co的1.5倍（$3.1B vs $2.1B），COMMERCIAL METALS Co净利率更高（8.4% vs 3.0%，领先5.4%），COMMERCIAL METALS Co同比增速更快（11.0% vs 1.0%），RYDER SYSTEM INC自由现金流更多（$273.0M vs $78.8M），过去两年COMMERCIAL METALS Co的营收复合增速更高（7.1% vs -0.9%）
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。
Ryder System Inc.是美国专业运输物流服务商，总部位于佛罗里达州科勒尔盖布尔斯，业务覆盖美国及英国，核心业务包含卡车租赁、车队管理、供应链及运输管理，同时提供车辆维保、二手车销售、专业司机派遣、电商履约与最后一公里配送等多元服务。
CMC vs R — 直观对比
营收规模更大
R
是对方的1.5倍
$2.1B
营收增速更快
CMC
高出10.0%
1.0%
净利率更高
CMC
高出5.4%
3.0%
自由现金流更多
R
多$194.3M
$78.8M
两年增速更快
CMC
近两年复合增速
-0.9%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $3.1B |
| 净利润 | $177.3M | $93.0M |
| 毛利率 | 19.2% | — |
| 营业利润率 | 8.6% | — |
| 净利率 | 8.4% | 3.0% |
| 营收同比 | 11.0% | 1.0% |
| 净利润同比 | 200.9% | -5.1% |
| 每股收益（稀释后） | $1.58 | $2.34 |
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CMCR
| Q1 26 | — | $3.1B | ||
| Q4 25 | $2.1B | $3.2B | ||
| Q3 25 | $2.1B | $3.2B | ||
| Q2 25 | $2.0B | $3.2B | ||
| Q1 25 | $1.8B | $3.1B | ||
| Q4 24 | $1.9B | $3.2B | ||
| Q3 24 | $2.0B | $3.2B | ||
| Q2 24 | $2.1B | $3.2B |
净利润CMCR
| Q1 26 | — | $93.0M | ||
| Q4 25 | $177.3M | $132.0M | ||
| Q3 25 | $151.8M | $138.0M | ||
| Q2 25 | $83.1M | $131.0M | ||
| Q1 25 | $25.5M | $98.0M | ||
| Q4 24 | $-175.7M | $135.0M | ||
| Q3 24 | $103.9M | $142.0M | ||
| Q2 24 | $119.4M | $127.0M |
毛利率CMCR
| Q1 26 | — | — | ||
| 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% | — |
营业利润率CMCR
| Q1 26 | — | — | ||
| Q4 25 | 8.6% | 5.6% | ||
| Q3 25 | 9.1% | 6.0% | ||
| Q2 25 | 5.4% | 5.8% | ||
| Q1 25 | 2.1% | 4.3% | ||
| Q4 24 | -12.1% | 5.7% | ||
| Q3 24 | 6.7% | 5.9% | ||
| Q2 24 | 7.7% | 5.6% |
净利率CMCR
| Q1 26 | — | 3.0% | ||
| Q4 25 | 8.4% | 4.2% | ||
| Q3 25 | 7.2% | 4.4% | ||
| Q2 25 | 4.1% | 4.1% | ||
| Q1 25 | 1.5% | 3.1% | ||
| Q4 24 | -9.2% | 4.2% | ||
| Q3 24 | 5.2% | 4.5% | ||
| Q2 24 | 5.7% | 4.0% |
每股收益（稀释后）CMCR
| Q1 26 | — | $2.34 | ||
| Q4 25 | $1.58 | $3.22 | ||
| Q3 25 | $1.33 | $3.32 | ||
| Q2 25 | $0.73 | $3.13 | ||
| Q1 25 | $0.22 | $2.27 | ||
| Q4 24 | $-1.54 | $3.09 | ||
| Q3 24 | $0.90 | $3.24 | ||
| Q2 24 | $1.02 | $2.84 |
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 | $182.0M |
| 总债务越低越好 | $3.3B | — |
| 股东权益账面价值 | $4.3B | $2.9B |
| 总资产 | $9.2B | — |
| 负债/权益比越低杠杆越低 | 0.77× | — |
8季度趋势，按日历期对齐
现金及短期投资CMCR
| Q1 26 | — | $182.0M | ||
| Q4 25 | $1.0B | $198.0M | ||
| Q3 25 | $1.0B | $189.0M | ||
| Q2 25 | $893.0M | $180.0M | ||
| Q1 25 | $758.4M | $151.0M | ||
| Q4 24 | $856.1M | $154.0M | ||
| Q3 24 | $857.9M | $162.0M | ||
| Q2 24 | $698.3M | $164.0M |
总债务CMCR
| Q1 26 | — | — | ||
| Q4 25 | $3.3B | $6.8B | ||
| Q3 25 | $1.3B | $7.3B | ||
| Q2 25 | $1.3B | $7.0B | ||
| Q1 25 | $1.2B | $6.7B | ||
| Q4 24 | $1.1B | $6.7B | ||
| Q3 24 | $1.2B | $6.6B | ||
| Q2 24 | $1.1B | $6.5B |
股东权益CMCR
| Q1 26 | — | $2.9B | ||
| Q4 25 | $4.3B | $3.1B | ||
| Q3 25 | $4.2B | $3.1B | ||
| Q2 25 | $4.1B | $3.1B | ||
| Q1 25 | $4.0B | $3.0B | ||
| Q4 24 | $4.0B | $3.1B | ||
| Q3 24 | $4.3B | $3.1B | ||
| Q2 24 | $4.3B | $3.1B |
总资产CMCR
| Q1 26 | — | — | ||
| Q4 25 | $9.2B | $16.4B | ||
| Q3 25 | $7.2B | $16.5B | ||
| Q2 25 | $7.0B | $16.5B | ||
| Q1 25 | $6.7B | $16.4B | ||
| Q4 24 | $6.8B | $16.7B | ||
| Q3 24 | $6.8B | $16.5B | ||
| Q2 24 | $6.7B | $16.4B |
负债/权益比CMCR
| Q1 26 | — | — | ||
| Q4 25 | 0.77× | 2.24× | ||
| Q3 25 | 0.31× | 2.35× | ||
| Q2 25 | 0.32× | 2.27× | ||
| Q1 25 | 0.29× | 2.21× | ||
| Q4 24 | 0.29× | 2.14× | ||
| Q3 24 | 0.27× | 2.17× | ||
| Q2 24 | 0.27× | 2.09× |
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 | $583.0M |
| 自由现金流经营现金流 - 资本支出 | $78.8M | $273.0M |
| 自由现金流率自由现金流/营收 | 3.7% | 8.7% |
| 资本支出强度资本支出/营收 | 5.9% | 13.7% |
| 现金转化率经营现金流/净利润 | 1.15× | 6.27× |
| 过去12个月自由现金流最近4个季度 | $296.2M | $595.0M |
8季度趋势，按日历期对齐
经营现金流CMCR
| Q1 26 | — | $583.0M | ||
| Q4 25 | $204.2M | $749.0M | ||
| Q3 25 | $315.2M | $442.0M | ||
| Q2 25 | $154.4M | $752.0M | ||
| Q1 25 | $32.4M | $651.0M | ||
| Q4 24 | $213.0M | $558.0M | ||
| Q3 24 | $351.8M | $629.0M | ||
| Q2 24 | $197.9M | $552.0M |
自由现金流CMCR
| Q1 26 | — | $273.0M | ||
| Q4 25 | $78.8M | $344.0M | ||
| Q3 25 | $206.3M | $-85.0M | ||
| Q2 25 | $65.0M | $63.0M | ||
| Q1 25 | $-53.8M | $137.0M | ||
| Q4 24 | $94.8M | $-201.0M | ||
| Q3 24 | $270.3M | $30.0M | ||
| Q2 24 | $115.8M | $-87.0M |
自由现金流率CMCR
| Q1 26 | — | 8.7% | ||
| Q4 25 | 3.7% | 10.8% | ||
| Q3 25 | 9.8% | -2.7% | ||
| Q2 25 | 3.2% | 2.0% | ||
| Q1 25 | -3.1% | 4.4% | ||
| Q4 24 | 5.0% | -6.3% | ||
| Q3 24 | 13.5% | 0.9% | ||
| Q2 24 | 5.6% | -2.7% |
资本支出强度CMCR
| Q1 26 | — | 13.7% | ||
| Q4 25 | 5.9% | 12.8% | ||
| Q3 25 | 5.2% | 16.6% | ||
| Q2 25 | 4.4% | 21.6% | ||
| Q1 25 | 4.9% | 16.4% | ||
| Q4 24 | 6.2% | 23.8% | ||
| Q3 24 | 4.1% | 18.9% | ||
| Q2 24 | 3.9% | 20.1% |
现金转化率CMCR
| Q1 26 | — | 6.27× | ||
| Q4 25 | 1.15× | 5.67× | ||
| Q3 25 | 2.08× | 3.20× | ||
| Q2 25 | 1.86× | 5.74× | ||
| Q1 25 | 1.27× | 6.64× | ||
| Q4 24 | — | 4.13× | ||
| Q3 24 | 3.39× | 4.43× | ||
| Q2 24 | 1.66× | 4.35× |
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% |
R
| Fleet Management Solutions | $1.5B | 47% |
| ChoiceLease | $878.0M | 28% |
| Dedicated Transportation Solutions | $553.0M | 18% |
| Commercial rental | $211.0M | 7% |
