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COMMERCIAL METALS Co（CMC）与史丹利百得（SWK）财务数据对比。点击上方公司名可切换其他公司
史丹利百得的季度营收约是COMMERCIAL METALS Co的1.8倍（$3.8B vs $2.1B），COMMERCIAL METALS Co净利率更高（8.4% vs 1.4%，领先7.0%），COMMERCIAL METALS Co同比增速更快（11.0% vs 0.1%），史丹利百得自由现金流更多（$155.3M vs $78.8M），过去两年COMMERCIAL METALS Co的营收复合增速更高（7.1% vs 0.3%）
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。
史丹利百得是美国知名的工业工具、家用五金产品制造商，同时提供安防类产品，前身为史丹利工具有限公司，由史丹利与百得于2010年3月12日合并而来，总部位于康涅狄格州大哈特福德地区的新不列颠市。
CMC vs SWK — 直观对比
营收规模更大
SWK
是对方的1.8倍
$2.1B
营收增速更快
CMC
高出10.9%
0.1%
净利率更高
CMC
高出7.0%
1.4%
自由现金流更多
SWK
多$76.5M
$78.8M
两年增速更快
CMC
近两年复合增速
0.3%
损益表 — Q1 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $3.8B |
| 净利润 | $177.3M | $51.4M |
| 毛利率 | 19.2% | 31.4% |
| 营业利润率 | 8.6% | — |
| 净利率 | 8.4% | 1.4% |
| 营收同比 | 11.0% | 0.1% |
| 净利润同比 | 200.9% | -43.6% |
| 每股收益（稀释后） | $1.58 | $0.34 |
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CMCSWK
| Q4 25 | $2.1B | — | ||
| Q3 25 | $2.1B | $3.8B | ||
| Q2 25 | $2.0B | $3.9B | ||
| Q1 25 | $1.8B | $3.7B | ||
| Q4 24 | $1.9B | $3.7B | ||
| Q3 24 | $2.0B | $3.8B | ||
| Q2 24 | $2.1B | $4.0B | ||
| Q1 24 | $1.8B | $3.9B |
净利润CMCSWK
| Q4 25 | $177.3M | — | ||
| Q3 25 | $151.8M | $51.4M | ||
| Q2 25 | $83.1M | $101.9M | ||
| Q1 25 | $25.5M | $90.4M | ||
| Q4 24 | $-175.7M | $194.9M | ||
| Q3 24 | $103.9M | $91.1M | ||
| Q2 24 | $119.4M | $-11.2M | ||
| Q1 24 | $85.8M | $19.5M |
毛利率CMCSWK
| Q4 25 | 19.2% | — | ||
| Q3 25 | 18.6% | 31.4% | ||
| Q2 25 | 14.8% | 27.0% | ||
| Q1 25 | 12.5% | 29.9% | ||
| Q4 24 | 16.1% | 30.8% | ||
| Q3 24 | 16.2% | 29.9% | ||
| Q2 24 | 16.4% | 28.4% | ||
| Q1 24 | 16.0% | 28.6% |
营业利润率CMCSWK
| Q4 25 | 8.6% | — | ||
| Q3 25 | 9.1% | — | ||
| Q2 25 | 5.4% | — | ||
| Q1 25 | 2.1% | — | ||
| Q4 24 | -12.1% | 3.4% | ||
| Q3 24 | 6.7% | 10.6% | ||
| Q2 24 | 7.7% | 9.5% | ||
| Q1 24 | 6.3% | 8.3% |
净利率CMCSWK
| Q4 25 | 8.4% | — | ||
| Q3 25 | 7.2% | 1.4% | ||
| Q2 25 | 4.1% | 2.6% | ||
| Q1 25 | 1.5% | 2.4% | ||
| Q4 24 | -9.2% | 5.2% | ||
| Q3 24 | 5.2% | 2.4% | ||
| Q2 24 | 5.7% | -0.3% | ||
| Q1 24 | 4.6% | 0.5% |
每股收益（稀释后）CMCSWK
| Q4 25 | $1.58 | — | ||
| Q3 25 | $1.33 | $0.34 | ||
| Q2 25 | $0.73 | $0.67 | ||
| Q1 25 | $0.22 | $0.60 | ||
| Q4 24 | $-1.54 | $1.29 | ||
| Q3 24 | $0.90 | $0.60 | ||
| Q2 24 | $1.02 | $-0.07 | ||
| Q1 24 | $0.73 | $0.13 |
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 | $268.3M |
| 总债务越低越好 | $3.3B | $5.3B |
| 股东权益账面价值 | $4.3B | $9.0B |
| 总资产 | $9.2B | $21.8B |
| 负债/权益比越低杠杆越低 | 0.77× | 0.59× |
8季度趋势，按日历期对齐
现金及短期投资CMCSWK
| Q4 25 | $1.0B | — | ||
| Q3 25 | $1.0B | $268.3M | ||
| Q2 25 | $893.0M | $311.8M | ||
| Q1 25 | $758.4M | $344.8M | ||
| Q4 24 | $856.1M | $290.5M | ||
| Q3 24 | $857.9M | $298.7M | ||
| Q2 24 | $698.3M | $318.5M | ||
| Q1 24 | $638.3M | $476.6M |
总债务CMCSWK
| Q4 25 | $3.3B | — | ||
| Q3 25 | $1.3B | $5.3B | ||
| Q2 25 | $1.3B | $5.6B | ||
| Q1 25 | $1.2B | $5.6B | ||
| Q4 24 | $1.1B | $6.1B | ||
| Q3 24 | $1.2B | $6.1B | ||
| Q2 24 | $1.1B | $6.1B | ||
| Q1 24 | $1.1B | $6.1B |
股东权益CMCSWK
| Q4 25 | $4.3B | — | ||
| Q3 25 | $4.2B | $9.0B | ||
| Q2 25 | $4.1B | $9.1B | ||
| Q1 25 | $4.0B | $8.8B | ||
| Q4 24 | $4.0B | $8.7B | ||
| Q3 24 | $4.3B | $8.9B | ||
| Q2 24 | $4.3B | $8.7B | ||
| Q1 24 | $4.2B | $8.9B |
总资产CMCSWK
| Q4 25 | $9.2B | — | ||
| Q3 25 | $7.2B | $21.8B | ||
| Q2 25 | $7.0B | $22.5B | ||
| Q1 25 | $6.7B | $22.5B | ||
| Q4 24 | $6.8B | $21.8B | ||
| Q3 24 | $6.8B | $22.5B | ||
| Q2 24 | $6.7B | $22.5B | ||
| Q1 24 | $6.7B | $23.9B |
负债/权益比CMCSWK
| Q4 25 | 0.77× | — | ||
| Q3 25 | 0.31× | 0.59× | ||
| Q2 25 | 0.32× | 0.62× | ||
| Q1 25 | 0.29× | 0.63× | ||
| Q4 24 | 0.29× | 0.70× | ||
| Q3 24 | 0.27× | 0.69× | ||
| Q2 24 | 0.27× | 0.70× | ||
| Q1 24 | 0.27× | 0.69× |
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 | $221.2M |
| 自由现金流经营现金流 - 资本支出 | $78.8M | $155.3M |
| 自由现金流率自由现金流/营收 | 3.7% | 4.1% |
| 资本支出强度资本支出/营收 | 5.9% | 1.8% |
| 现金转化率经营现金流/净利润 | 1.15× | 4.30× |
| 过去12个月自由现金流最近4个季度 | $296.2M | $369.6M |
8季度趋势，按日历期对齐
经营现金流CMCSWK
| Q4 25 | $204.2M | — | ||
| Q3 25 | $315.2M | $221.2M | ||
| Q2 25 | $154.4M | $214.3M | ||
| Q1 25 | $32.4M | $-420.0M | ||
| Q4 24 | $213.0M | $679.1M | ||
| Q3 24 | $351.8M | $285.8M | ||
| Q2 24 | $197.9M | $573.0M | ||
| Q1 24 | $89.0M | $-431.0M |
自由现金流CMCSWK
| Q4 25 | $78.8M | — | ||
| Q3 25 | $206.3M | $155.3M | ||
| Q2 25 | $65.0M | $134.7M | ||
| Q1 25 | $-53.8M | $-485.0M | ||
| Q4 24 | $94.8M | $564.6M | ||
| Q3 24 | $270.3M | $199.3M | ||
| Q2 24 | $115.8M | $485.8M | ||
| Q1 24 | $-4.8M | $-496.7M |
自由现金流率CMCSWK
| Q4 25 | 3.7% | — | ||
| Q3 25 | 9.8% | 4.1% | ||
| Q2 25 | 3.2% | 3.4% | ||
| Q1 25 | -3.1% | -13.0% | ||
| Q4 24 | 5.0% | 15.2% | ||
| Q3 24 | 13.5% | 5.3% | ||
| Q2 24 | 5.6% | 12.1% | ||
| Q1 24 | -0.3% | -12.8% |
资本支出强度CMCSWK
| Q4 25 | 5.9% | — | ||
| Q3 25 | 5.2% | 1.8% | ||
| Q2 25 | 4.4% | 2.0% | ||
| Q1 25 | 4.9% | 1.7% | ||
| Q4 24 | 6.2% | 3.1% | ||
| Q3 24 | 4.1% | 2.3% | ||
| Q2 24 | 3.9% | 2.2% | ||
| Q1 24 | 5.1% | 1.7% |
现金转化率CMCSWK
| Q4 25 | 1.15× | — | ||
| Q3 25 | 2.08× | 4.30× | ||
| Q2 25 | 1.86× | 2.10× | ||
| Q1 25 | 1.27× | -4.65× | ||
| Q4 24 | — | 3.48× | ||
| Q3 24 | 3.39× | 3.14× | ||
| Q2 24 | 1.66× | — | ||
| Q1 24 | 1.04× | -22.10× |
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% |
SWK
| Tools And Outdoor Segment | $3.3B | 87% |
| Engineered Fastening Segment | $500.5M | 13% |
