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芝商所（CME）与康宝莱（HLF）财务数据对比。点击上方公司名可切换其他公司
芝商所的季度营收约是康宝莱的1.5倍（$1.9B vs $1.3B），康宝莱净利率更高（6.7% vs 0.1%，领先6.6%），芝商所同比增速更快（14.5% vs 6.3%），过去两年芝商所的营收复合增速更高（10.8% vs 0.7%）
芝商所是总部位于美国伊利诺伊州芝加哥的金融服务企业，为全球规模最大的金融衍生品交易所运营商，旗下拥有芝加哥商品交易所、芝加哥期货交易所、纽约商业交易所、纽约商品交易所等交易平台，覆盖农产品、货币、能源等品类交易，同时持有标普道琼斯指数27%的股权。
康宝莱是美国跨国多层次营销企业，主营膳食补充剂的研发与销售。该公司曾被指控涉嫌金字塔骗局欺诈运营，2016年与美国证监会达成协议后调整了薪酬体系，将经销商奖励与可核实的实际销售额挂钩。此外其部分产品曾被曝出引发急性肝炎的相关问题。
CME vs HLF — 直观对比
营收规模更大
CME
是对方的1.5倍
$1.3B
营收增速更快
CME
高出8.2%
6.3%
净利率更高
HLF
高出6.6%
0.1%
两年增速更快
CME
近两年复合增速
0.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $1.3B |
| 净利润 | $1.2M | $85.4M |
| 毛利率 | — | 77.5% |
| 营业利润率 | 0.1% | 7.8% |
| 净利率 | 0.1% | 6.7% |
| 营收同比 | 14.5% | 6.3% |
| 净利润同比 | 20.7% | -52.0% |
| 每股收益（稀释后） | — | $0.81 |
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CMEHLF
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.6B | $1.3B | ||
| Q3 25 | $1.5B | $1.3B | ||
| Q2 25 | $1.7B | $1.3B | ||
| Q1 25 | $1.6B | $1.2B | ||
| Q4 24 | $1.5B | $1.2B | ||
| Q3 24 | $1.6B | $1.2B | ||
| Q2 24 | $1.5B | $1.3B |
净利润CMEHLF
| Q1 26 | $1.2M | — | ||
| Q4 25 | $1.2B | $85.4M | ||
| Q3 25 | $908.0M | $43.2M | ||
| Q2 25 | $1.0B | $49.3M | ||
| Q1 25 | $956.2M | $50.4M | ||
| Q4 24 | $874.6M | $177.9M | ||
| Q3 24 | $912.8M | $47.4M | ||
| Q2 24 | $883.2M | $4.7M |
毛利率CMEHLF
| Q1 26 | — | — | ||
| Q4 25 | — | 77.5% | ||
| Q3 25 | — | 77.7% | ||
| Q2 25 | — | 78.0% | ||
| Q1 25 | — | 78.3% | ||
| Q4 24 | — | 77.8% | ||
| Q3 24 | — | 78.3% | ||
| Q2 24 | — | 77.9% |
营业利润率CMEHLF
| Q1 26 | 0.1% | — | ||
| Q4 25 | 61.8% | 7.8% | ||
| Q3 25 | 63.3% | 9.9% | ||
| Q2 25 | 66.7% | 10.5% | ||
| Q1 25 | 67.5% | 10.1% | ||
| Q4 24 | 62.1% | 8.8% | ||
| Q3 24 | 64.6% | 10.2% | ||
| Q2 24 | 65.3% | 6.3% |
净利率CMEHLF
| Q1 26 | 0.1% | — | ||
| Q4 25 | 71.7% | 6.7% | ||
| Q3 25 | 59.1% | 3.4% | ||
| Q2 25 | 60.6% | 3.9% | ||
| Q1 25 | 58.2% | 4.1% | ||
| Q4 24 | 57.3% | 14.7% | ||
| Q3 24 | 57.6% | 3.8% | ||
| Q2 24 | 57.6% | 0.4% |
每股收益（稀释后）CMEHLF
| Q1 26 | — | — | ||
| Q4 25 | $3.24 | $0.81 | ||
| Q3 25 | $2.49 | $0.42 | ||
| Q2 25 | $2.81 | $0.48 | ||
| Q1 25 | $2.62 | $0.49 | ||
| Q4 24 | $2.40 | $1.75 | ||
| Q3 24 | $2.50 | $0.46 | ||
| Q2 24 | $2.42 | $0.05 |
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 | $2.4B | $353.1M |
| 总债务越低越好 | $3.4B | $2.0B |
| 股东权益账面价值 | — | $-515.1M |
| 总资产 | $202.0B | $2.8B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资CMEHLF
| Q1 26 | $2.4B | — | ||
| Q4 25 | $4.5B | $353.1M | ||
| Q3 25 | $2.6B | $305.5M | ||
| Q2 25 | $2.1B | $320.9M | ||
| Q1 25 | $1.5B | $329.4M | ||
| Q4 24 | $3.0B | $415.3M | ||
| Q3 24 | $2.4B | $402.5M | ||
| Q2 24 | $1.9B | $374.0M |
总债务CMEHLF
| Q1 26 | $3.4B | — | ||
| Q4 25 | — | $2.0B | ||
| Q3 25 | — | $2.0B | ||
| Q2 25 | — | $2.1B | ||
| Q1 25 | — | $2.2B | ||
| Q4 24 | — | $2.3B | ||
| Q3 24 | — | $2.3B | ||
| Q2 24 | — | $2.3B |
股东权益CMEHLF
| Q1 26 | — | — | ||
| Q4 25 | $28.7B | $-515.1M | ||
| Q3 25 | $28.2B | $-612.0M | ||
| Q2 25 | $27.7B | $-660.5M | ||
| Q1 25 | $27.0B | $-736.0M | ||
| Q4 24 | $26.5B | $-801.1M | ||
| Q3 24 | $28.2B | $-954.2M | ||
| Q2 24 | $27.6B | $-1.0B |
总资产CMEHLF
| Q1 26 | $202.0B | — | ||
| Q4 25 | $198.4B | $2.8B | ||
| Q3 25 | $187.1B | $2.7B | ||
| Q2 25 | $179.9B | $2.7B | ||
| Q1 25 | $157.8B | $2.7B | ||
| Q4 24 | $137.4B | $2.7B | ||
| Q3 24 | $137.8B | $2.7B | ||
| Q2 24 | $123.4B | $2.6B |
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 | — | $98.3M |
| 自由现金流经营现金流 - 资本支出 | — | $79.8M |
| 自由现金流率自由现金流/营收 | — | 6.2% |
| 资本支出强度资本支出/营收 | — | 1.4% |
| 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 | — | $252.9M |
8季度趋势，按日历期对齐
经营现金流CMEHLF
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $98.3M | ||
| Q3 25 | $968.1M | $138.8M | ||
| Q2 25 | $1.1B | $96.0M | ||
| Q1 25 | $1.1B | $200.0K | ||
| Q4 24 | $1.0B | $69.6M | ||
| Q3 24 | $1.0B | $99.5M | ||
| Q2 24 | $776.9M | $102.5M |
自由现金流CMEHLF
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $79.8M | ||
| Q3 25 | $949.7M | $118.0M | ||
| Q2 25 | $1.0B | $73.2M | ||
| Q1 25 | $1.1B | $-18.1M | ||
| Q4 24 | $991.7M | $43.9M | ||
| Q3 24 | $973.2M | $72.4M | ||
| Q2 24 | $758.7M | $66.2M |
自由现金流率CMEHLF
| Q1 26 | — | — | ||
| Q4 25 | 66.8% | 6.2% | ||
| Q3 25 | 61.8% | 9.3% | ||
| Q2 25 | 61.5% | 5.8% | ||
| Q1 25 | 67.1% | -1.5% | ||
| Q4 24 | 65.0% | 3.6% | ||
| Q3 24 | 61.4% | 5.8% | ||
| Q2 24 | 49.5% | 5.2% |
资本支出强度CMEHLF
| Q1 26 | — | — | ||
| Q4 25 | 2.0% | 1.4% | ||
| Q3 25 | 1.2% | 1.6% | ||
| Q2 25 | 1.1% | 1.8% | ||
| Q1 25 | 0.9% | 1.5% | ||
| Q4 24 | 1.7% | 2.1% | ||
| Q3 24 | 1.9% | 2.2% | ||
| Q2 24 | 1.2% | 2.8% |
现金转化率CMEHLF
| Q1 26 | — | — | ||
| Q4 25 | 0.96× | 1.15× | ||
| Q3 25 | 1.07× | 3.21× | ||
| Q2 25 | 1.03× | 1.95× | ||
| Q1 25 | 1.17× | 0.00× | ||
| Q4 24 | 1.16× | 0.39× | ||
| Q3 24 | 1.10× | 2.10× | ||
| Q2 24 | 0.88× | 21.81× |
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
CME
暂无分部数据
HLF
| Others | $514.4M | 40% |
| Other | $300.0M | 23% |
| IN | $250.3M | 20% |
| MX | $147.2M | 11% |
| VN | $71.1M | 6% |
