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COMMERCIAL METALS Co（CMC）与RUSH ENTERPRISES INC \TX\（RUSHA）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RUSH ENTERPRISES INC \TX\的1.3倍（$2.1B vs $1.7B），COMMERCIAL METALS Co净利率更高（8.4% vs 3.7%，领先4.7%），COMMERCIAL METALS Co同比增速更快（11.0% vs -9.0%），RUSH ENTERPRISES INC \TX\自由现金流更多（$411.6M vs $78.8M），过去两年COMMERCIAL METALS Co的营收复合增速更高（7.1% vs -6.8%）
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。
Rush Enterprises是总部位于美国得克萨斯州新布朗费尔斯的商用车经销商，核心业务是通过旗下Rush Truck Centers销售全新及二手卡车。2019年该公司在全美20个州运营超200家卡车中心，在加拿大设有14个网点，2020年入选财富500强榜单。
CMC vs RUSHA — 直观对比
营收规模更大
CMC
是对方的1.3倍
$1.7B
营收增速更快
CMC
高出20.0%
-9.0%
净利率更高
CMC
高出4.7%
3.7%
自由现金流更多
RUSHA
多$332.8M
$78.8M
两年增速更快
CMC
近两年复合增速
-6.8%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $1.7B |
| 净利润 | $177.3M | $61.7M |
| 毛利率 | 19.2% | 20.4% |
| 营业利润率 | 8.6% | 4.9% |
| 净利率 | 8.4% | 3.7% |
| 营收同比 | 11.0% | -9.0% |
| 净利润同比 | 200.9% | 1.8% |
| 每股收益（稀释后） | $1.58 | $0.77 |
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CMCRUSHA
| Q1 26 | — | $1.7B | ||
| Q4 25 | $2.1B | $1.7B | ||
| Q3 25 | $2.1B | $1.8B | ||
| Q2 25 | $2.0B | $1.8B | ||
| Q1 25 | $1.8B | $1.8B | ||
| Q4 24 | $1.9B | $1.9B | ||
| Q3 24 | $2.0B | $1.8B | ||
| Q2 24 | $2.1B | $1.9B |
净利润CMCRUSHA
| Q1 26 | — | $61.7M | ||
| Q4 25 | $177.3M | $64.3M | ||
| Q3 25 | $151.8M | $66.7M | ||
| Q2 25 | $83.1M | $72.4M | ||
| Q1 25 | $25.5M | $60.3M | ||
| Q4 24 | $-175.7M | $74.8M | ||
| Q3 24 | $103.9M | $79.1M | ||
| Q2 24 | $119.4M | $78.7M |
毛利率CMCRUSHA
| Q1 26 | — | 20.4% | ||
| Q4 25 | 19.2% | 20.8% | ||
| Q3 25 | 18.6% | 21.0% | ||
| Q2 25 | 14.8% | 20.7% | ||
| Q1 25 | 12.5% | 20.3% | ||
| Q4 24 | 16.1% | 19.3% | ||
| Q3 24 | 16.2% | 21.0% | ||
| Q2 24 | 16.4% | 20.2% |
营业利润率CMCRUSHA
| Q1 26 | — | 4.9% | ||
| Q4 25 | 8.6% | 5.5% | ||
| Q3 25 | 9.1% | 5.6% | ||
| Q2 25 | 5.4% | 6.0% | ||
| Q1 25 | 2.1% | 5.2% | ||
| Q4 24 | -12.1% | 5.8% | ||
| Q3 24 | 6.7% | 6.7% | ||
| Q2 24 | 7.7% | 6.4% |
净利率CMCRUSHA
| Q1 26 | — | 3.7% | ||
| Q4 25 | 8.4% | 3.8% | ||
| Q3 25 | 7.2% | 3.7% | ||
| Q2 25 | 4.1% | 3.9% | ||
| Q1 25 | 1.5% | 3.4% | ||
| Q4 24 | -9.2% | 3.9% | ||
| Q3 24 | 5.2% | 4.4% | ||
| Q2 24 | 5.7% | 4.1% |
每股收益（稀释后）CMCRUSHA
| Q1 26 | — | $0.77 | ||
| Q4 25 | $1.58 | $0.81 | ||
| Q3 25 | $1.33 | $0.83 | ||
| Q2 25 | $0.73 | $0.90 | ||
| Q1 25 | $0.22 | $0.73 | ||
| Q4 24 | $-1.54 | $-95.13 | ||
| Q3 24 | $0.90 | $0.97 | ||
| Q2 24 | $1.02 | $97.00 |
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 | — |
| 总债务越低越好 | $3.3B | $277.8M |
| 股东权益账面价值 | $4.3B | $2.3B |
| 总资产 | $9.2B | $4.5B |
| 负债/权益比越低杠杆越低 | 0.77× | 0.12× |
8季度趋势，按日历期对齐
现金及短期投资CMCRUSHA
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | $212.6M | ||
| Q3 25 | $1.0B | $242.0M | ||
| Q2 25 | $893.0M | $211.1M | ||
| Q1 25 | $758.4M | $228.7M | ||
| Q4 24 | $856.1M | $228.1M | ||
| Q3 24 | $857.9M | $185.1M | ||
| Q2 24 | $698.3M | $167.3M |
总债务CMCRUSHA
| Q1 26 | — | $277.8M | ||
| Q4 25 | $3.3B | $274.8M | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | $1.3B | — | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.1B | $408.4M | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.1B | — |
股东权益CMCRUSHA
| Q1 26 | — | $2.3B | ||
| Q4 25 | $4.3B | $2.2B | ||
| Q3 25 | $4.2B | $2.2B | ||
| Q2 25 | $4.1B | $2.2B | ||
| Q1 25 | $4.0B | $2.2B | ||
| Q4 24 | $4.0B | $2.1B | ||
| Q3 24 | $4.3B | $2.1B | ||
| Q2 24 | $4.3B | $2.0B |
总资产CMCRUSHA
| Q1 26 | — | $4.5B | ||
| Q4 25 | $9.2B | $4.4B | ||
| Q3 25 | $7.2B | $4.6B | ||
| Q2 25 | $7.0B | $4.7B | ||
| Q1 25 | $6.7B | $4.7B | ||
| Q4 24 | $6.8B | $4.6B | ||
| Q3 24 | $6.8B | $4.6B | ||
| Q2 24 | $6.7B | $4.5B |
负债/权益比CMCRUSHA
| Q1 26 | — | 0.12× | ||
| Q4 25 | 0.77× | 0.12× | ||
| Q3 25 | 0.31× | — | ||
| Q2 25 | 0.32× | — | ||
| Q1 25 | 0.29× | — | ||
| Q4 24 | 0.29× | 0.19× | ||
| Q3 24 | 0.27× | — | ||
| Q2 24 | 0.27× | — |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $78.8M | $411.6M |
| 自由现金流率自由现金流/营收 | 3.7% | 24.4% |
| 资本支出强度资本支出/营收 | 5.9% | 2.0% |
| 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 | $828.4M |
8季度趋势，按日历期对齐
经营现金流CMCRUSHA
| Q1 26 | — | — | ||
| Q4 25 | $204.2M | $112.9M | ||
| Q3 25 | $315.2M | $367.8M | ||
| Q2 25 | $154.4M | $227.6M | ||
| Q1 25 | $32.4M | $153.5M | ||
| Q4 24 | $213.0M | $392.3M | ||
| Q3 24 | $351.8M | $111.7M | ||
| Q2 24 | $197.9M | $270.6M |
自由现金流CMCRUSHA
| Q1 26 | — | $411.6M | ||
| Q4 25 | $78.8M | $31.9M | ||
| Q3 25 | $206.3M | $271.2M | ||
| Q2 25 | $65.0M | $113.8M | ||
| Q1 25 | $-53.8M | $45.1M | ||
| Q4 24 | $94.8M | $263.5M | ||
| Q3 24 | $270.3M | $-20.0M | ||
| Q2 24 | $115.8M | $177.2M |
自由现金流率CMCRUSHA
| Q1 26 | — | 24.4% | ||
| Q4 25 | 3.7% | 1.9% | ||
| Q3 25 | 9.8% | 15.2% | ||
| Q2 25 | 3.2% | 6.2% | ||
| Q1 25 | -3.1% | 2.6% | ||
| Q4 24 | 5.0% | 13.7% | ||
| Q3 24 | 13.5% | -1.1% | ||
| Q2 24 | 5.6% | 9.1% |
资本支出强度CMCRUSHA
| Q1 26 | — | 2.0% | ||
| Q4 25 | 5.9% | 4.8% | ||
| Q3 25 | 5.2% | 5.4% | ||
| Q2 25 | 4.4% | 6.2% | ||
| Q1 25 | 4.9% | 6.2% | ||
| Q4 24 | 6.2% | 6.7% | ||
| Q3 24 | 4.1% | 7.3% | ||
| Q2 24 | 3.9% | 4.8% |
现金转化率CMCRUSHA
| Q1 26 | — | — | ||
| Q4 25 | 1.15× | 1.75× | ||
| Q3 25 | 2.08× | 5.51× | ||
| Q2 25 | 1.86× | 3.14× | ||
| Q1 25 | 1.27× | 2.55× | ||
| Q4 24 | — | 5.25× | ||
| Q3 24 | 3.39× | 1.41× | ||
| Q2 24 | 1.66× | 3.44× |
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% |
RUSHA
| New and used commercial vehicle sales | $955.1M | 57% |
| Aftermarket products and services sales | $627.2M | 37% |
| Lease and rental sales | $92.3M | 5% |
| Finance and insurance | $5.6M | 0% |
