vs
芝商所（CME）与NCR Atleos Corp（NATL）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NCR Atleos Corp的1.6倍（$1.9B vs $1.2B），NCR Atleos Corp净利率更高（7.2% vs 0.1%，领先7.1%），芝商所同比增速更快（14.5% vs 4.0%），过去两年芝商所的营收复合增速更高（10.8% vs 4.9%）
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。
NCR Atleos Corp 前身为NCR公司（National Cash Register），是全球知名的软件、咨询与技术企业，提供多元专业服务与电子产品，业务覆盖自助服务 kiosk、销售点终端、自动柜员机、支票处理系统、条码扫描器等商用软硬件的研发与生产，服务全球各行业客户的数字化运营需求。
CME vs NATL — 直观对比
营收规模更大
CME
是对方的1.6倍
$1.2B
营收增速更快
CME
高出10.5%
4.0%
净利率更高
NATL
高出7.1%
0.1%
两年增速更快
CME
近两年复合增速
4.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $1.2B |
| 净利润 | $1.2M | $83.0M |
| 毛利率 | — | — |
| 营业利润率 | 0.1% | 13.5% |
| 净利率 | 0.1% | 7.2% |
| 营收同比 | 14.5% | 4.0% |
| 净利润同比 | 20.7% | 102.4% |
| 每股收益（稀释后） | — | $1.09 |
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CMENATL
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.6B | $1.2B | ||
| Q3 25 | $1.5B | $1.1B | ||
| Q2 25 | $1.7B | $1.1B | ||
| Q1 25 | $1.6B | $979.0M | ||
| Q4 24 | $1.5B | $1.1B | ||
| Q3 24 | $1.6B | $1.1B | ||
| Q2 24 | $1.5B | $1.1B |
净利润CMENATL
| Q1 26 | $1.2M | — | ||
| Q4 25 | $1.2B | $83.0M | ||
| Q3 25 | $908.0M | $26.0M | ||
| Q2 25 | $1.0B | $39.0M | ||
| Q1 25 | $956.2M | $14.0M | ||
| Q4 24 | $874.6M | $41.0M | ||
| Q3 24 | $912.8M | $21.0M | ||
| Q2 24 | $883.2M | $27.0M |
营业利润率CMENATL
| Q1 26 | 0.1% | — | ||
| Q4 25 | 61.8% | 13.5% | ||
| Q3 25 | 63.3% | 9.8% | ||
| Q2 25 | 66.7% | 10.8% | ||
| Q1 25 | 67.5% | 9.5% | ||
| Q4 24 | 62.1% | 13.4% | ||
| Q3 24 | 64.6% | 10.6% | ||
| Q2 24 | 65.3% | 9.8% |
净利率CMENATL
| Q1 26 | 0.1% | — | ||
| Q4 25 | 71.7% | 7.2% | ||
| Q3 25 | 59.1% | 2.3% | ||
| Q2 25 | 60.6% | 3.5% | ||
| Q1 25 | 58.2% | 1.4% | ||
| Q4 24 | 57.3% | 3.7% | ||
| Q3 24 | 57.6% | 2.0% | ||
| Q2 24 | 57.6% | 2.5% |
每股收益（稀释后）CMENATL
| Q1 26 | — | — | ||
| Q4 25 | $3.24 | $1.09 | ||
| Q3 25 | $2.49 | $0.34 | ||
| Q2 25 | $2.81 | $0.52 | ||
| Q1 25 | $2.62 | $0.19 | ||
| Q4 24 | $2.40 | $0.56 | ||
| Q3 24 | $2.50 | $0.28 | ||
| Q2 24 | $2.42 | $0.37 |
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 | $456.0M |
| 总债务越低越好 | $3.4B | $2.7B |
| 股东权益账面价值 | — | $403.0M |
| 总资产 | $202.0B | $5.7B |
| 负债/权益比越低杠杆越低 | — | 6.63× |
8季度趋势，按日历期对齐
现金及短期投资CMENATL
| Q1 26 | $2.4B | — | ||
| Q4 25 | $4.5B | $456.0M | ||
| Q3 25 | $2.6B | $412.0M | ||
| Q2 25 | $2.1B | $357.0M | ||
| Q1 25 | $1.5B | $352.0M | ||
| Q4 24 | $3.0B | $419.0M | ||
| Q3 24 | $2.4B | $395.0M | ||
| Q2 24 | $1.9B | $374.0M |
总债务CMENATL
| Q1 26 | $3.4B | — | ||
| Q4 25 | — | $2.7B | ||
| Q3 25 | — | $2.8B | ||
| Q2 25 | — | $2.8B | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $2.9B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益CMENATL
| Q1 26 | — | — | ||
| Q4 25 | $28.7B | $403.0M | ||
| Q3 25 | $28.2B | $330.0M | ||
| Q2 25 | $27.7B | $350.0M | ||
| Q1 25 | $27.0B | $275.0M | ||
| Q4 24 | $26.5B | $219.0M | ||
| Q3 24 | $28.2B | $264.0M | ||
| Q2 24 | $27.6B | $250.0M |
总资产CMENATL
| Q1 26 | $202.0B | — | ||
| Q4 25 | $198.4B | $5.7B | ||
| Q3 25 | $187.1B | $5.7B | ||
| Q2 25 | $179.9B | $5.8B | ||
| Q1 25 | $157.8B | $5.7B | ||
| Q4 24 | $137.4B | $5.5B | ||
| Q3 24 | $137.8B | $5.7B | ||
| Q2 24 | $123.4B | $5.8B |
负债/权益比CMENATL
| Q1 26 | — | — | ||
| Q4 25 | — | 6.63× | ||
| Q3 25 | — | 8.45× | ||
| Q2 25 | — | 8.05× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 13.05× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — | $231.0M |
| 自由现金流经营现金流 - 资本支出 | — | $194.0M |
| 自由现金流率自由现金流/营收 | — | 16.8% |
| 资本支出强度资本支出/营收 | — | 3.2% |
| 现金转化率经营现金流/净利润 | — | 2.78× |
| 过去12个月自由现金流最近4个季度 | — | $239.0M |
8季度趋势，按日历期对齐
经营现金流CMENATL
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $231.0M | ||
| Q3 25 | $968.1M | $25.0M | ||
| Q2 25 | $1.1B | $-23.0M | ||
| Q1 25 | $1.1B | $123.0M | ||
| Q4 24 | $1.0B | $80.0M | ||
| Q3 24 | $1.0B | $107.0M | ||
| Q2 24 | $776.9M | $9.0M |
自由现金流CMENATL
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $194.0M | ||
| Q3 25 | $949.7M | $-5.0M | ||
| Q2 25 | $1.0B | $-44.0M | ||
| Q1 25 | $1.1B | $94.0M | ||
| Q4 24 | $991.7M | $62.0M | ||
| Q3 24 | $973.2M | $85.0M | ||
| Q2 24 | $758.7M | $-14.0M |
自由现金流率CMENATL
| Q1 26 | — | — | ||
| Q4 25 | 66.8% | 16.8% | ||
| Q3 25 | 61.8% | -0.4% | ||
| Q2 25 | 61.5% | -4.0% | ||
| Q1 25 | 67.1% | 9.6% | ||
| Q4 24 | 65.0% | 5.6% | ||
| Q3 24 | 61.4% | 7.9% | ||
| Q2 24 | 49.5% | -1.3% |
资本支出强度CMENATL
| Q1 26 | — | — | ||
| Q4 25 | 2.0% | 3.2% | ||
| Q3 25 | 1.2% | 2.7% | ||
| Q2 25 | 1.1% | 1.9% | ||
| Q1 25 | 0.9% | 3.0% | ||
| Q4 24 | 1.7% | 1.6% | ||
| Q3 24 | 1.9% | 2.1% | ||
| Q2 24 | 1.2% | 2.1% |
现金转化率CMENATL
| Q1 26 | — | — | ||
| Q4 25 | 0.96× | 2.78× | ||
| Q3 25 | 1.07× | 0.96× | ||
| Q2 25 | 1.03× | -0.59× | ||
| Q1 25 | 1.17× | 8.79× | ||
| Q4 24 | 1.16× | 1.95× | ||
| Q3 24 | 1.10× | 5.10× | ||
| Q2 24 | 0.88× | 0.33× |
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
NATL
| Services | $848.0M | 74% |
| APJ | $136.0M | 12% |
| Americas Excluding United States | $135.0M | 12% |
| TT | $44.0M | 4% |
