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COMMERCIAL METALS Co（CMC）与TransDigm Group（TDG）财务数据对比。点击上方公司名可切换其他公司
TransDigm Group的季度营收约是COMMERCIAL METALS Co的1.1倍（$2.3B vs $2.1B），TransDigm Group净利率更高（19.5% vs 8.4%，领先11.1%），TransDigm Group同比增速更快（13.9% vs 11.0%），TransDigm Group自由现金流更多（$772.0M vs $78.8M），过去两年TransDigm Group的营收复合增速更高（9.1% vs 7.1%）
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。
TransDigm Group是总部位于美国俄亥俄州克利夫兰的上市航空航天制造企业，1993年由私募股权机构通过杠杆收购整合四家工业航空企业组建而成。公司专注于研发生产定制化航空航天部件，多年来通过多起收购持续拓展自身产品矩阵。
CMC vs TDG — 直观对比
营收规模更大
TDG
是对方的1.1倍
$2.1B
营收增速更快
TDG
高出2.9%
11.0%
净利率更高
TDG
高出11.1%
8.4%
自由现金流更多
TDG
多$693.3M
$78.8M
两年增速更快
TDG
近两年复合增速
7.1%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $2.3B |
| 净利润 | $177.3M | $445.0M |
| 毛利率 | 19.2% | 59.2% |
| 营业利润率 | 8.6% | 45.6% |
| 净利率 | 8.4% | 19.5% |
| 营收同比 | 11.0% | 13.9% |
| 净利润同比 | 200.9% | -9.7% |
| 每股收益（稀释后） | $1.58 | $6.62 |
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CMCTDG
| Q4 25 | $2.1B | $2.3B | ||
| Q3 25 | $2.1B | $2.4B | ||
| Q2 25 | $2.0B | $2.2B | ||
| Q1 25 | $1.8B | $2.1B | ||
| Q4 24 | $1.9B | $2.0B | ||
| Q3 24 | $2.0B | $2.2B | ||
| Q2 24 | $2.1B | $2.0B | ||
| Q1 24 | $1.8B | $1.9B |
净利润CMCTDG
| Q4 25 | $177.3M | $445.0M | ||
| Q3 25 | $151.8M | $610.0M | ||
| Q2 25 | $83.1M | $492.0M | ||
| Q1 25 | $25.5M | $479.0M | ||
| Q4 24 | $-175.7M | $493.0M | ||
| Q3 24 | $103.9M | $468.0M | ||
| Q2 24 | $119.4M | $461.0M | ||
| Q1 24 | $85.8M | $403.0M |
毛利率CMCTDG
| Q4 25 | 19.2% | 59.2% | ||
| Q3 25 | 18.6% | 60.3% | ||
| Q2 25 | 14.8% | 59.5% | ||
| Q1 25 | 12.5% | 59.3% | ||
| Q4 24 | 16.1% | 61.6% | ||
| Q3 24 | 16.2% | 57.5% | ||
| Q2 24 | 16.4% | 59.6% | ||
| Q1 24 | 16.0% | 60.0% |
营业利润率CMCTDG
| Q4 25 | 8.6% | 45.6% | ||
| Q3 25 | 9.1% | 47.6% | ||
| Q2 25 | 5.4% | 46.4% | ||
| Q1 25 | 2.1% | 46.1% | ||
| Q4 24 | -12.1% | 48.6% | ||
| Q3 24 | 6.7% | 43.1% | ||
| Q2 24 | 7.7% | 45.7% | ||
| Q1 24 | 6.3% | 45.2% |
净利率CMCTDG
| Q4 25 | 8.4% | 19.5% | ||
| Q3 25 | 7.2% | 25.0% | ||
| Q2 25 | 4.1% | 22.0% | ||
| Q1 25 | 1.5% | 22.3% | ||
| Q4 24 | -9.2% | 24.6% | ||
| Q3 24 | 5.2% | 21.4% | ||
| Q2 24 | 5.7% | 22.5% | ||
| Q1 24 | 4.6% | 21.0% |
每股收益（稀释后）CMCTDG
| Q4 25 | $1.58 | $6.62 | ||
| Q3 25 | $1.33 | $7.75 | ||
| Q2 25 | $0.73 | $8.47 | ||
| Q1 25 | $0.22 | $8.24 | ||
| Q4 24 | $-1.54 | $7.62 | ||
| Q3 24 | $0.90 | $5.82 | ||
| Q2 24 | $1.02 | $7.96 | ||
| Q1 24 | $0.73 | $6.97 |
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 | $2.5B |
| 总债务越低越好 | $3.3B | $29.2B |
| 股东权益账面价值 | $4.3B | $-9.3B |
| 总资产 | $9.2B | $23.8B |
| 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CMCTDG
| Q4 25 | $1.0B | $2.5B | ||
| Q3 25 | $1.0B | $2.8B | ||
| Q2 25 | $893.0M | $2.8B | ||
| Q1 25 | $758.4M | $2.4B | ||
| Q4 24 | $856.1M | $2.5B | ||
| Q3 24 | $857.9M | $6.3B | ||
| Q2 24 | $698.3M | $3.4B | ||
| Q1 24 | $638.3M | $4.3B |
总债务CMCTDG
| Q4 25 | $3.3B | $29.2B | ||
| Q3 25 | $1.3B | $29.2B | ||
| Q2 25 | $1.3B | $24.3B | ||
| Q1 25 | $1.2B | $24.3B | ||
| Q4 24 | $1.1B | $24.3B | ||
| Q3 24 | $1.2B | $24.3B | ||
| Q2 24 | $1.1B | $21.4B | ||
| Q1 24 | $1.1B | $21.3B |
股东权益CMCTDG
| Q4 25 | $4.3B | $-9.3B | ||
| Q3 25 | $4.2B | $-9.7B | ||
| Q2 25 | $4.1B | $-5.0B | ||
| Q1 25 | $4.0B | $-5.7B | ||
| Q4 24 | $4.0B | $-6.3B | ||
| Q3 24 | $4.3B | $-6.3B | ||
| Q2 24 | $4.3B | $-2.5B | ||
| Q1 24 | $4.2B | $-3.0B |
总资产CMCTDG
| Q4 25 | $9.2B | $23.8B | ||
| Q3 25 | $7.2B | $22.9B | ||
| Q2 25 | $7.0B | $22.7B | ||
| Q1 25 | $6.7B | $21.9B | ||
| Q4 24 | $6.8B | $21.5B | ||
| Q3 24 | $6.8B | $25.6B | ||
| Q2 24 | $6.7B | $21.8B | ||
| Q1 24 | $6.7B | $21.6B |
负债/权益比CMCTDG
| 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 | $832.0M |
| 自由现金流经营现金流 - 资本支出 | $78.8M | $772.0M |
| 自由现金流率自由现金流/营收 | 3.7% | 33.8% |
| 资本支出强度资本支出/营收 | 5.9% | 2.6% |
| 现金转化率经营现金流/净利润 | 1.15× | 1.87× |
| 过去12个月自由现金流最近4个季度 | $296.2M | $1.9B |
8季度趋势，按日历期对齐
经营现金流CMCTDG
| Q4 25 | $204.2M | $832.0M | ||
| Q3 25 | $315.2M | $507.0M | ||
| Q2 25 | $154.4M | $631.0M | ||
| Q1 25 | $32.4M | $148.0M | ||
| Q4 24 | $213.0M | $752.0M | ||
| Q3 24 | $351.8M | $572.0M | ||
| Q2 24 | $197.9M | $608.0M | ||
| Q1 24 | $89.0M | $229.0M |
自由现金流CMCTDG
| Q4 25 | $78.8M | $772.0M | ||
| Q3 25 | $206.3M | $441.0M | ||
| Q2 25 | $65.0M | $573.0M | ||
| Q1 25 | $-53.8M | $92.0M | ||
| Q4 24 | $94.8M | $710.0M | ||
| Q3 24 | $270.3M | $531.0M | ||
| Q2 24 | $115.8M | $568.0M | ||
| Q1 24 | $-4.8M | $181.0M |
自由现金流率CMCTDG
| Q4 25 | 3.7% | 33.8% | ||
| Q3 25 | 9.8% | 18.1% | ||
| Q2 25 | 3.2% | 25.6% | ||
| Q1 25 | -3.1% | 4.3% | ||
| Q4 24 | 5.0% | 35.4% | ||
| Q3 24 | 13.5% | 24.3% | ||
| Q2 24 | 5.6% | 27.8% | ||
| Q1 24 | -0.3% | 9.4% |
资本支出强度CMCTDG
| Q4 25 | 5.9% | 2.6% | ||
| Q3 25 | 5.2% | 2.7% | ||
| Q2 25 | 4.4% | 2.6% | ||
| Q1 25 | 4.9% | 2.6% | ||
| Q4 24 | 6.2% | 2.1% | ||
| Q3 24 | 4.1% | 1.9% | ||
| Q2 24 | 3.9% | 2.0% | ||
| Q1 24 | 5.1% | 2.5% |
现金转化率CMCTDG
| Q4 25 | 1.15× | 1.87× | ||
| Q3 25 | 2.08× | 0.83× | ||
| Q2 25 | 1.86× | 1.28× | ||
| Q1 25 | 1.27× | 0.31× | ||
| Q4 24 | — | 1.53× | ||
| Q3 24 | 3.39× | 1.22× | ||
| Q2 24 | 1.66× | 1.32× | ||
| Q1 24 | 1.04× | 0.57× |
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% |
TDG
| Airframe | $1.0B | 45% |
| Defense | $603.0M | 26% |
| Commercial Aftermarket | $368.0M | 16% |
| Commercial OEM | $253.0M | 11% |
| Non Aviation Related Business | $40.0M | 2% |
