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COMMERCIAL METALS Co（CMC）与Rivian Automotive, Inc.（RIVN）财务数据对比。点击上方公司名可切换其他公司
COMMERCIAL METALS Co的季度营收约是Rivian Automotive, Inc.的1.6倍（$2.1B vs $1.3B），COMMERCIAL METALS Co净利率更高（8.4% vs -63.1%，领先71.4%），COMMERCIAL METALS Co同比增速更快（11.0% vs -25.8%），COMMERCIAL METALS Co自由现金流更多（$78.8M vs $-1.1B），过去两年COMMERCIAL METALS Co的营收复合增速更高（7.1% vs 3.3%）
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。
Rivian Automotive是2009年成立的美国电动汽车制造商及汽车科技企业，主打基于自研滑板平台打造的电动SUV、皮卡及EDV电动配送货车，旗下R1T皮卡于2021年末正式开启交付，还计划于2023年底前在美国和加拿大布局专属充电网络，其平台可适配新车型也可对外授权使用。
CMC vs RIVN — 直观对比
营收规模更大
CMC
是对方的1.6倍
$1.3B
营收增速更快
CMC
高出36.9%
-25.8%
净利率更高
CMC
高出71.4%
-63.1%
自由现金流更多
CMC
多$1.2B
$-1.1B
两年增速更快
CMC
近两年复合增速
3.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $1.3B |
| 净利润 | $177.3M | $-811.0M |
| 毛利率 | 19.2% | 9.3% |
| 营业利润率 | 8.6% | -64.8% |
| 净利率 | 8.4% | -63.1% |
| 营收同比 | 11.0% | -25.8% |
| 净利润同比 | 200.9% | -9.0% |
| 每股收益（稀释后） | $1.58 | $-0.66 |
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CMCRIVN
| Q4 25 | $2.1B | $1.3B | ||
| Q3 25 | $2.1B | $1.6B | ||
| Q2 25 | $2.0B | $1.3B | ||
| Q1 25 | $1.8B | $1.2B | ||
| Q4 24 | $1.9B | $1.7B | ||
| Q3 24 | $2.0B | $874.0M | ||
| Q2 24 | $2.1B | $1.2B | ||
| Q1 24 | $1.8B | $1.2B |
净利润CMCRIVN
| Q4 25 | $177.3M | $-811.0M | ||
| Q3 25 | $151.8M | $-1.2B | ||
| Q2 25 | $83.1M | $-1.1B | ||
| Q1 25 | $25.5M | $-545.0M | ||
| Q4 24 | $-175.7M | $-744.0M | ||
| Q3 24 | $103.9M | $-1.1B | ||
| Q2 24 | $119.4M | $-1.5B | ||
| Q1 24 | $85.8M | $-1.4B |
毛利率CMCRIVN
| Q4 25 | 19.2% | 9.3% | ||
| Q3 25 | 18.6% | 1.5% | ||
| Q2 25 | 14.8% | -15.8% | ||
| Q1 25 | 12.5% | 16.6% | ||
| Q4 24 | 16.1% | 9.8% | ||
| Q3 24 | 16.2% | -44.9% | ||
| Q2 24 | 16.4% | -38.9% | ||
| Q1 24 | 16.0% | -43.8% |
营业利润率CMCRIVN
| Q4 25 | 8.6% | -64.8% | ||
| Q3 25 | 9.1% | -63.1% | ||
| Q2 25 | 5.4% | -85.5% | ||
| Q1 25 | 2.1% | -52.8% | ||
| Q4 24 | -12.1% | -38.1% | ||
| Q3 24 | 6.7% | -133.8% | ||
| Q2 24 | 7.7% | -118.7% | ||
| Q1 24 | 6.3% | -123.3% |
净利率CMCRIVN
| Q4 25 | 8.4% | -63.1% | ||
| Q3 25 | 7.2% | -75.3% | ||
| Q2 25 | 4.1% | -85.7% | ||
| Q1 25 | 1.5% | -44.0% | ||
| Q4 24 | -9.2% | -42.9% | ||
| Q3 24 | 5.2% | -125.9% | ||
| Q2 24 | 5.7% | -125.8% | ||
| Q1 24 | 4.6% | -120.1% |
每股收益（稀释后）CMCRIVN
| Q4 25 | $1.58 | $-0.66 | ||
| Q3 25 | $1.33 | $-0.96 | ||
| Q2 25 | $0.73 | $-0.97 | ||
| Q1 25 | $0.22 | $-0.48 | ||
| Q4 24 | $-1.54 | $-0.67 | ||
| Q3 24 | $0.90 | $-1.08 | ||
| Q2 24 | $1.02 | $-1.46 | ||
| Q1 24 | $0.73 | $-1.48 |
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 | $6.1B |
| 总债务越低越好 | $3.3B | — |
| 股东权益账面价值 | $4.3B | $4.6B |
| 总资产 | $9.2B | $14.9B |
| 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CMCRIVN
| Q4 25 | $1.0B | $6.1B | ||
| Q3 25 | $1.0B | $7.1B | ||
| Q2 25 | $893.0M | $7.5B | ||
| Q1 25 | $758.4M | $7.2B | ||
| Q4 24 | $856.1M | $7.7B | ||
| Q3 24 | $857.9M | $6.7B | ||
| Q2 24 | $698.3M | $7.9B | ||
| Q1 24 | $638.3M | $7.9B |
总债务CMCRIVN
| Q4 25 | $3.3B | — | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | $1.3B | — | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.1B | $5.5B | ||
| Q1 24 | $1.1B | $4.4B |
股东权益CMCRIVN
| Q4 25 | $4.3B | $4.6B | ||
| Q3 25 | $4.2B | $5.1B | ||
| Q2 25 | $4.1B | $6.1B | ||
| Q1 25 | $4.0B | $6.2B | ||
| Q4 24 | $4.0B | $6.6B | ||
| Q3 24 | $4.3B | $5.9B | ||
| Q2 24 | $4.3B | $6.8B | ||
| Q1 24 | $4.2B | $8.1B |
总资产CMCRIVN
| Q4 25 | $9.2B | $14.9B | ||
| Q3 25 | $7.2B | $15.2B | ||
| Q2 25 | $7.0B | $15.6B | ||
| Q1 25 | $6.7B | $15.5B | ||
| Q4 24 | $6.8B | $15.4B | ||
| Q3 24 | $6.8B | $14.3B | ||
| Q2 24 | $6.7B | $15.4B | ||
| Q1 24 | $6.7B | $15.7B |
负债/权益比CMCRIVN
| Q4 25 | 0.77× | — | ||
| Q3 25 | 0.31× | — | ||
| Q2 25 | 0.32× | — | ||
| Q1 25 | 0.29× | — | ||
| Q4 24 | 0.29× | — | ||
| Q3 24 | 0.27× | — | ||
| Q2 24 | 0.27× | 0.81× | ||
| Q1 24 | 0.27× | 0.55× |
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 | $-681.0M |
| 自由现金流经营现金流 - 资本支出 | $78.8M | $-1.1B |
| 自由现金流率自由现金流/营收 | 3.7% | -89.0% |
| 资本支出强度资本支出/营收 | 5.9% | 36.0% |
| 现金转化率经营现金流/净利润 | 1.15× | — |
| 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CMCRIVN
| Q4 25 | $204.2M | $-681.0M | ||
| Q3 25 | $315.2M | $26.0M | ||
| Q2 25 | $154.4M | $64.0M | ||
| Q1 25 | $32.4M | $-188.0M | ||
| Q4 24 | $213.0M | $1.2B | ||
| Q3 24 | $351.8M | $-876.0M | ||
| Q2 24 | $197.9M | $-754.0M | ||
| Q1 24 | $89.0M | $-1.3B |
自由现金流CMCRIVN
| Q4 25 | $78.8M | $-1.1B | ||
| Q3 25 | $206.3M | $-421.0M | ||
| Q2 25 | $65.0M | $-398.0M | ||
| Q1 25 | $-53.8M | $-526.0M | ||
| Q4 24 | $94.8M | $856.0M | ||
| Q3 24 | $270.3M | $-1.2B | ||
| Q2 24 | $115.8M | $-1.0B | ||
| Q1 24 | $-4.8M | $-1.5B |
自由现金流率CMCRIVN
| Q4 25 | 3.7% | -89.0% | ||
| Q3 25 | 9.8% | -27.0% | ||
| Q2 25 | 3.2% | -30.5% | ||
| Q1 25 | -3.1% | -42.4% | ||
| Q4 24 | 5.0% | 49.4% | ||
| Q3 24 | 13.5% | -131.9% | ||
| Q2 24 | 5.6% | -89.6% | ||
| Q1 24 | -0.3% | -126.5% |
资本支出强度CMCRIVN
| Q4 25 | 5.9% | 36.0% | ||
| Q3 25 | 5.2% | 28.7% | ||
| Q2 25 | 4.4% | 35.5% | ||
| Q1 25 | 4.9% | 27.3% | ||
| Q4 24 | 6.2% | 18.9% | ||
| Q3 24 | 4.1% | 31.7% | ||
| Q2 24 | 3.9% | 24.4% | ||
| Q1 24 | 5.1% | 21.1% |
现金转化率CMCRIVN
| Q4 25 | 1.15× | — | ||
| Q3 25 | 2.08× | — | ||
| Q2 25 | 1.86× | — | ||
| Q1 25 | 1.27× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.39× | — | ||
| Q2 24 | 1.66× | — | ||
| Q1 24 | 1.04× | — |
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% |
RIVN
| Automotive Segment | $839.0M | 65% |
| Software And Services Segment | $447.0M | 35% |
| Regulatory Credits | $30.0M | 2% |
