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COMMERCIAL METALS Co（CMC）与Sprouts Farmers Market, Inc.（SFM）财务数据对比。点击上方公司名可切换其他公司
Sprouts Farmers Market, Inc.的季度营收约是COMMERCIAL METALS Co的1.0倍（$2.1B vs $2.1B），COMMERCIAL METALS Co净利率更高（8.4% vs 4.2%，领先4.2%），COMMERCIAL METALS Co同比增速更快（11.0% vs 7.6%），COMMERCIAL METALS Co自由现金流更多（$78.8M vs $66.3M），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。
Sprouts Farmers Market是总部位于美国亚利桑那州凤凰城的连锁超市品牌，主营天然有机食品，涵盖新鲜果蔬、散装食品、包装杂货、肉禽海鲜、熟食烘焙、乳制品、冷冻食品等品类，同时售有维生素补剂、天然个护及家居用品，目前在全美24个州开设超400家门店，员工约3.5万名。
CMC vs SFM — 直观对比
营收规模更大
SFM
是对方的1.0倍
$2.1B
营收增速更快
CMC
高出3.4%
7.6%
净利率更高
CMC
高出4.2%
4.2%
自由现金流更多
CMC
多$12.4M
$66.3M
两年增速更快
CMC
近两年复合增速
6.8%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $2.1B |
| 净利润 | $177.3M | $89.8M |
| 毛利率 | 19.2% | 38.0% |
| 营业利润率 | 8.6% | 5.7% |
| 净利率 | 8.4% | 4.2% |
| 营收同比 | 11.0% | 7.6% |
| 净利润同比 | 200.9% | 12.8% |
| 每股收益（稀释后） | $1.58 | $0.93 |
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CMCSFM
| Q4 25 | $2.1B | $2.1B | ||
| Q3 25 | $2.1B | $2.2B | ||
| Q2 25 | $2.0B | $2.2B | ||
| Q1 25 | $1.8B | $2.2B | ||
| Q4 24 | $1.9B | $2.0B | ||
| Q3 24 | $2.0B | $1.9B | ||
| Q2 24 | $2.1B | $1.9B | ||
| Q1 24 | $1.8B | $1.9B |
净利润CMCSFM
| Q4 25 | $177.3M | $89.8M | ||
| Q3 25 | $151.8M | $120.1M | ||
| Q2 25 | $83.1M | $133.7M | ||
| Q1 25 | $25.5M | $180.0M | ||
| Q4 24 | $-175.7M | $79.6M | ||
| Q3 24 | $103.9M | $91.6M | ||
| Q2 24 | $119.4M | $95.3M | ||
| Q1 24 | $85.8M | $114.1M |
毛利率CMCSFM
| Q4 25 | 19.2% | 38.0% | ||
| Q3 25 | 18.6% | 38.7% | ||
| Q2 25 | 14.8% | 38.8% | ||
| Q1 25 | 12.5% | 39.6% | ||
| Q4 24 | 16.1% | 38.1% | ||
| Q3 24 | 16.2% | 38.1% | ||
| Q2 24 | 16.4% | 37.9% | ||
| Q1 24 | 16.0% | 38.3% |
营业利润率CMCSFM
| Q4 25 | 8.6% | 5.7% | ||
| Q3 25 | 9.1% | 7.2% | ||
| Q2 25 | 5.4% | 8.1% | ||
| Q1 25 | 2.1% | 10.1% | ||
| Q4 24 | -12.1% | 5.3% | ||
| Q3 24 | 6.7% | 6.3% | ||
| Q2 24 | 7.7% | 6.7% | ||
| Q1 24 | 6.3% | 7.9% |
净利率CMCSFM
| Q4 25 | 8.4% | 4.2% | ||
| Q3 25 | 7.2% | 5.5% | ||
| Q2 25 | 4.1% | 6.0% | ||
| Q1 25 | 1.5% | 8.0% | ||
| Q4 24 | -9.2% | 4.0% | ||
| Q3 24 | 5.2% | 4.7% | ||
| Q2 24 | 5.7% | 5.0% | ||
| Q1 24 | 4.6% | 6.1% |
每股收益（稀释后）CMCSFM
| Q4 25 | $1.58 | $0.93 | ||
| Q3 25 | $1.33 | $1.22 | ||
| Q2 25 | $0.73 | $1.35 | ||
| Q1 25 | $0.22 | $1.81 | ||
| Q4 24 | $-1.54 | $0.78 | ||
| Q3 24 | $0.90 | $0.91 | ||
| Q2 24 | $1.02 | $0.94 | ||
| Q1 24 | $0.73 | $1.12 |
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 | $257.3M |
| 总债务越低越好 | $3.3B | — |
| 股东权益账面价值 | $4.3B | $1.4B |
| 总资产 | $9.2B | $4.2B |
| 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CMCSFM
| Q4 25 | $1.0B | $257.3M | ||
| Q3 25 | $1.0B | $322.4M | ||
| Q2 25 | $893.0M | $261.4M | ||
| Q1 25 | $758.4M | $285.7M | ||
| Q4 24 | $856.1M | $265.2M | ||
| Q3 24 | $857.9M | $309.7M | ||
| Q2 24 | $698.3M | $177.3M | ||
| Q1 24 | $638.3M | $312.3M |
总债务CMCSFM
| 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 | — | ||
| Q1 24 | $1.1B | — |
股东权益CMCSFM
| Q4 25 | $4.3B | $1.4B | ||
| Q3 25 | $4.2B | $1.4B | ||
| Q2 25 | $4.1B | $1.4B | ||
| Q1 25 | $4.0B | $1.3B | ||
| Q4 24 | $4.0B | $1.3B | ||
| Q3 24 | $4.3B | $1.3B | ||
| Q2 24 | $4.3B | $1.3B | ||
| Q1 24 | $4.2B | $1.2B |
总资产CMCSFM
| Q4 25 | $9.2B | $4.2B | ||
| Q3 25 | $7.2B | $4.0B | ||
| Q2 25 | $7.0B | $3.8B | ||
| Q1 25 | $6.7B | $3.7B | ||
| Q4 24 | $6.8B | $3.6B | ||
| Q3 24 | $6.8B | $3.6B | ||
| Q2 24 | $6.7B | $3.4B | ||
| Q1 24 | $6.7B | $3.5B |
负债/权益比CMCSFM
| 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× | — | ||
| Q1 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 | $138.5M |
| 自由现金流经营现金流 - 资本支出 | $78.8M | $66.3M |
| 自由现金流率自由现金流/营收 | 3.7% | 3.1% |
| 资本支出强度资本支出/营收 | 5.9% | 3.4% |
| 现金转化率经营现金流/净利润 | 1.15× | 1.54× |
| 过去12个月自由现金流最近4个季度 | $296.2M | $467.7M |
8季度趋势，按日历期对齐
经营现金流CMCSFM
| Q4 25 | $204.2M | $138.5M | ||
| Q3 25 | $315.2M | $167.1M | ||
| Q2 25 | $154.4M | $111.2M | ||
| Q1 25 | $32.4M | $299.1M | ||
| Q4 24 | $213.0M | $124.9M | ||
| Q3 24 | $351.8M | $209.1M | ||
| Q2 24 | $197.9M | $91.6M | ||
| Q1 24 | $89.0M | $219.7M |
自由现金流CMCSFM
| Q4 25 | $78.8M | $66.3M | ||
| Q3 25 | $206.3M | $111.4M | ||
| Q2 25 | $65.0M | $50.4M | ||
| Q1 25 | $-53.8M | $239.6M | ||
| Q4 24 | $94.8M | $56.2M | ||
| Q3 24 | $270.3M | $156.3M | ||
| Q2 24 | $115.8M | $33.9M | ||
| Q1 24 | $-4.8M | $168.5M |
自由现金流率CMCSFM
| Q4 25 | 3.7% | 3.1% | ||
| Q3 25 | 9.8% | 5.1% | ||
| Q2 25 | 3.2% | 2.3% | ||
| Q1 25 | -3.1% | 10.7% | ||
| Q4 24 | 5.0% | 2.8% | ||
| Q3 24 | 13.5% | 8.0% | ||
| Q2 24 | 5.6% | 1.8% | ||
| Q1 24 | -0.3% | 8.9% |
资本支出强度CMCSFM
| Q4 25 | 5.9% | 3.4% | ||
| Q3 25 | 5.2% | 2.5% | ||
| Q2 25 | 4.4% | 2.7% | ||
| Q1 25 | 4.9% | 2.7% | ||
| Q4 24 | 6.2% | 3.4% | ||
| Q3 24 | 4.1% | 2.7% | ||
| Q2 24 | 3.9% | 3.0% | ||
| Q1 24 | 5.1% | 2.7% |
现金转化率CMCSFM
| Q4 25 | 1.15× | 1.54× | ||
| Q3 25 | 2.08× | 1.39× | ||
| Q2 25 | 1.86× | 0.83× | ||
| Q1 25 | 1.27× | 1.66× | ||
| Q4 24 | — | 1.57× | ||
| Q3 24 | 3.39× | 2.28× | ||
| Q2 24 | 1.66× | 0.96× | ||
| Q1 24 | 1.04× | 1.93× |
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% |
SFM
| Perishables | $1.2B | 56% |
| Non Perishables | $935.4M | 44% |
