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芝商所（CME）与北极星（PII）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北极星的1.1倍（$1.9B vs $1.7B），芝商所净利率更高（0.1% vs -2.8%，领先2.9%），芝商所同比增速更快（14.5% vs 8.0%），过去两年芝商所的营收复合增速更高（10.8% vs -8.0%）
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。
北极星公司（Polaris Inc.）是总部位于美国明尼苏达州麦地那的机动车制造企业，创立于明尼苏达州罗索，当地目前仍保留其工程研发与生产设施。公司曾通过胜利摩托子公司生产摩托车，2011年收购印第安摩托品牌后转由该子公司运营摩托业务，此前还曾生产私人水上摩托艇产品。
CME vs PII — 直观对比
营收规模更大
CME
是对方的1.1倍
$1.7B
营收增速更快
CME
高出6.5%
8.0%
净利率更高
CME
高出2.9%
-2.8%
两年增速更快
CME
近两年复合增速
-8.0%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $1.7B |
| 净利润 | $1.2M | $-47.2M |
| 毛利率 | — | 20.2% |
| 营业利润率 | 0.1% | — |
| 净利率 | 0.1% | -2.8% |
| 营收同比 | 14.5% | 8.0% |
| 净利润同比 | 20.7% | 29.2% |
| 每股收益（稀释后） | — | $-0.83 |
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CMEPII
| Q1 26 | $1.9B | $1.7B | ||
| Q4 25 | $1.6B | $1.9B | ||
| Q3 25 | $1.5B | $1.8B | ||
| Q2 25 | $1.7B | $1.9B | ||
| Q1 25 | $1.6B | $1.5B | ||
| Q4 24 | $1.5B | $1.8B | ||
| Q3 24 | $1.6B | $1.7B | ||
| Q2 24 | $1.5B | $2.0B |
净利润CMEPII
| Q1 26 | $1.2M | $-47.2M | ||
| Q4 25 | $1.2B | $-303.6M | ||
| Q3 25 | $908.0M | $-15.8M | ||
| Q2 25 | $1.0B | $-79.3M | ||
| Q1 25 | $956.2M | $-66.8M | ||
| Q4 24 | $874.6M | $10.6M | ||
| Q3 24 | $912.8M | $27.7M | ||
| Q2 24 | $883.2M | $68.7M |
毛利率CMEPII
| Q1 26 | — | 20.2% | ||
| Q4 25 | — | 20.0% | ||
| Q3 25 | — | 20.7% | ||
| Q2 25 | — | 19.4% | ||
| Q1 25 | — | 16.0% | ||
| Q4 24 | — | 20.4% | ||
| Q3 24 | — | 20.6% | ||
| Q2 24 | — | 21.6% |
营业利润率CMEPII
| Q1 26 | 0.1% | — | ||
| Q4 25 | 61.8% | -16.7% | ||
| Q3 25 | 63.3% | 1.1% | ||
| Q2 25 | 66.7% | -0.7% | ||
| Q1 25 | 67.5% | -2.4% | ||
| Q4 24 | 62.1% | 3.7% | ||
| Q3 24 | 64.6% | 3.8% | ||
| Q2 24 | 65.3% | 6.1% |
净利率CMEPII
| Q1 26 | 0.1% | -2.8% | ||
| Q4 25 | 71.7% | -15.8% | ||
| Q3 25 | 59.1% | -0.9% | ||
| Q2 25 | 60.6% | -4.3% | ||
| Q1 25 | 58.2% | -4.3% | ||
| Q4 24 | 57.3% | 0.6% | ||
| Q3 24 | 57.6% | 1.6% | ||
| Q2 24 | 57.6% | 3.5% |
每股收益（稀释后）CMEPII
| Q1 26 | — | $-0.83 | ||
| Q4 25 | $3.24 | $-5.34 | ||
| Q3 25 | $2.49 | $-0.28 | ||
| Q2 25 | $2.81 | $-1.39 | ||
| Q1 25 | $2.62 | $-1.17 | ||
| Q4 24 | $2.40 | $0.18 | ||
| Q3 24 | $2.50 | $0.49 | ||
| Q2 24 | $2.42 | $1.21 |
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 | $282.0M |
| 总债务越低越好 | $3.4B | — |
| 股东权益账面价值 | — | $750.4M |
| 总资产 | $202.0B | $5.2B |
| 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CMEPII
| Q1 26 | $2.4B | $282.0M | ||
| Q4 25 | $4.5B | $138.0M | ||
| Q3 25 | $2.6B | $335.5M | ||
| Q2 25 | $2.1B | $324.3M | ||
| Q1 25 | $1.5B | $291.7M | ||
| Q4 24 | $3.0B | $287.8M | ||
| Q3 24 | $2.4B | $291.3M | ||
| Q2 24 | $1.9B | $322.7M |
总债务CMEPII
| Q1 26 | $3.4B | — | ||
| Q4 25 | — | $1.5B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $1.6B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $2.1B |
股东权益CMEPII
| Q1 26 | — | $750.4M | ||
| Q4 25 | $28.7B | $828.4M | ||
| Q3 25 | $28.2B | $1.1B | ||
| Q2 25 | $27.7B | $1.2B | ||
| Q1 25 | $27.0B | $1.2B | ||
| Q4 24 | $26.5B | $1.3B | ||
| Q3 24 | $28.2B | $1.3B | ||
| Q2 24 | $27.6B | $1.3B |
总资产CMEPII
| Q1 26 | $202.0B | $5.2B | ||
| Q4 25 | $198.4B | $4.9B | ||
| Q3 25 | $187.1B | $5.3B | ||
| Q2 25 | $179.9B | $5.4B | ||
| Q1 25 | $157.8B | $5.5B | ||
| Q4 24 | $137.4B | $5.5B | ||
| Q3 24 | $137.8B | $5.6B | ||
| Q2 24 | $123.4B | $5.7B |
负债/权益比CMEPII
| Q1 26 | — | — | ||
| Q4 25 | — | 1.82× | ||
| Q3 25 | — | 1.13× | ||
| Q2 25 | — | 1.17× | ||
| Q1 25 | — | 1.32× | ||
| Q4 24 | — | 1.27× | ||
| Q3 24 | — | 1.29× | ||
| Q2 24 | — | 1.56× |
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 | — | — |
| 自由现金流经营现金流 - 资本支出 | — | $-342.5M |
| 自由现金流率自由现金流/营收 | — | -20.6% |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | $168.0M |
8季度趋势，按日历期对齐
经营现金流CMEPII
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $178.7M | ||
| Q3 25 | $968.1M | $158.8M | ||
| Q2 25 | $1.1B | $320.3M | ||
| Q1 25 | $1.1B | $83.2M | ||
| Q4 24 | $1.0B | $206.3M | ||
| Q3 24 | $1.0B | $21.0M | ||
| Q2 24 | $776.9M | $146.3M |
自由现金流CMEPII
| Q1 26 | — | $-342.5M | ||
| Q4 25 | $1.1B | $114.0M | ||
| Q3 25 | $949.7M | $116.7M | ||
| Q2 25 | $1.0B | $279.8M | ||
| Q1 25 | $1.1B | $47.6M | ||
| Q4 24 | $991.7M | $137.3M | ||
| Q3 24 | $973.2M | $-32.4M | ||
| Q2 24 | $758.7M | $79.1M |
自由现金流率CMEPII
| Q1 26 | — | -20.6% | ||
| Q4 25 | 66.8% | 5.9% | ||
| Q3 25 | 61.8% | 6.3% | ||
| Q2 25 | 61.5% | 15.1% | ||
| Q1 25 | 67.1% | 3.1% | ||
| Q4 24 | 65.0% | 7.8% | ||
| Q3 24 | 61.4% | -1.9% | ||
| Q2 24 | 49.5% | 4.0% |
资本支出强度CMEPII
| Q1 26 | — | — | ||
| Q4 25 | 2.0% | 3.4% | ||
| Q3 25 | 1.2% | 2.3% | ||
| Q2 25 | 1.1% | 2.2% | ||
| Q1 25 | 0.9% | 2.3% | ||
| Q4 24 | 1.7% | 3.9% | ||
| Q3 24 | 1.9% | 3.1% | ||
| Q2 24 | 1.2% | 3.4% |
现金转化率CMEPII
| Q1 26 | — | — | ||
| Q4 25 | 0.96× | — | ||
| Q3 25 | 1.07× | — | ||
| Q2 25 | 1.03× | — | ||
| Q1 25 | 1.17× | — | ||
| Q4 24 | 1.16× | 19.46× | ||
| Q3 24 | 1.10× | 0.76× | ||
| Q2 24 | 0.88× | 2.13× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
