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芝商所（CME）与StoneX Group Inc.（SNEX）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StoneX Group Inc.的1.6倍（$1.9B vs $1.2B）。StoneX Group Inc.净利率更高（11.6% vs 0.1%，领先11.5%）。StoneX Group Inc.同比增速更快（81.0% vs 14.5%）。过去两年StoneX Group Inc.的营收复合增速更高（53.5% vs 10.8%）
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。
StoneX集团是美国知名金融服务企业，核心业务覆盖商业套期保值、全球支付、证券、实物大宗商品、外汇，以及清算与执行服务六大板块，可为全球各类客户提供专业合规的多元化金融服务。
CME vs SNEX — 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
SNEX
高出66.6%
14.5%
净利率更高
SNEX
高出11.5%
0.1%
两年增速更快
SNEX
近两年复合增速
10.8%
损益表 — Q1 2026 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $1.2B |
| 净利润 | $1.2M | $139.0M |
| 毛利率 | — | — |
| 营业利润率 | 0.1% | 15.4% |
| 净利率 | 0.1% | 11.6% |
| 营收同比 | 14.5% | 81.0% |
| 净利润同比 | 20.7% | 63.3% |
| 每股收益（稀释后） | — | $2.50 |
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CMESNEX
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.6B | $1.2B | ||
| Q3 25 | $1.5B | $32.7B | ||
| Q2 25 | $1.7B | $851.2M | ||
| Q1 25 | $1.6B | $820.4M | ||
| Q4 24 | $1.5B | $663.1M | ||
| Q3 24 | $1.6B | $31.1B | ||
| Q2 24 | $1.5B | $571.8M |
净利润CMESNEX
| Q1 26 | $1.2M | — | ||
| Q4 25 | $1.2B | $139.0M | ||
| Q3 25 | $908.0M | $85.7M | ||
| Q2 25 | $1.0B | $63.4M | ||
| Q1 25 | $956.2M | $71.7M | ||
| Q4 24 | $874.6M | $85.1M | ||
| Q3 24 | $912.8M | $76.7M | ||
| Q2 24 | $883.2M | $61.9M |
毛利率CMESNEX
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 3.7% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 3.0% | ||
| Q2 24 | — | — |
营业利润率CMESNEX
| Q1 26 | 0.1% | — | ||
| Q4 25 | 61.8% | 15.4% | ||
| Q3 25 | 63.3% | 0.3% | ||
| Q2 25 | 66.7% | -1.3% | ||
| Q1 25 | 67.5% | -1.0% | ||
| Q4 24 | 62.1% | -3.2% | ||
| Q3 24 | 64.6% | -0.0% | ||
| Q2 24 | 65.3% | -4.7% |
净利率CMESNEX
| Q1 26 | 0.1% | — | ||
| Q4 25 | 71.7% | 11.6% | ||
| Q3 25 | 59.1% | 0.3% | ||
| Q2 25 | 60.6% | 7.4% | ||
| Q1 25 | 58.2% | 8.7% | ||
| Q4 24 | 57.3% | 12.8% | ||
| Q3 24 | 57.6% | 0.2% | ||
| Q2 24 | 57.6% | 10.8% |
每股收益（稀释后）CMESNEX
| Q1 26 | — | — | ||
| Q4 25 | $3.24 | $2.50 | ||
| Q3 25 | $2.49 | $0.72 | ||
| Q2 25 | $2.81 | $1.22 | ||
| Q1 25 | $2.62 | $1.41 | ||
| Q4 24 | $2.40 | $2.54 | ||
| Q3 24 | $2.50 | $2.32 | ||
| Q2 24 | $2.42 | $1.88 |
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 | $1.6B |
| 总债务越低越好 | $3.4B | — |
| 股东权益账面价值 | — | $2.5B |
| 总资产 | $202.0B | $47.8B |
| 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CMESNEX
| Q1 26 | $2.4B | — | ||
| Q4 25 | $4.5B | $1.6B | ||
| Q3 25 | $2.6B | $1.6B | ||
| Q2 25 | $2.1B | $1.3B | ||
| Q1 25 | $1.5B | $1.3B | ||
| Q4 24 | $3.0B | $1.4B | ||
| Q3 24 | $2.4B | $1.3B | ||
| Q2 24 | $1.9B | $1.2B |
总债务CMESNEX
| Q1 26 | $3.4B | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益CMESNEX
| Q1 26 | — | — | ||
| Q4 25 | $28.7B | $2.5B | ||
| Q3 25 | $28.2B | $2.4B | ||
| Q2 25 | $27.7B | $2.0B | ||
| Q1 25 | $27.0B | $1.9B | ||
| Q4 24 | $26.5B | $1.8B | ||
| Q3 24 | $28.2B | $1.7B | ||
| Q2 24 | $27.6B | $1.6B |
总资产CMESNEX
| Q1 26 | $202.0B | — | ||
| Q4 25 | $198.4B | $47.8B | ||
| Q3 25 | $187.1B | $45.3B | ||
| Q2 25 | $179.9B | $34.3B | ||
| Q1 25 | $157.8B | $31.3B | ||
| Q4 24 | $137.4B | $29.6B | ||
| Q3 24 | $137.8B | $27.5B | ||
| Q2 24 | $123.4B | $25.9B |
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 | — | $-1.3B |
| 自由现金流经营现金流 - 资本支出 | — | $-1.3B |
| 自由现金流率自由现金流/营收 | — | -106.4% |
| 资本支出强度资本支出/营收 | — | 1.3% |
| 现金转化率经营现金流/净利润 | — | -9.08× |
| 过去12个月自由现金流最近4个季度 | — | $3.5B |
8季度趋势，按日历期对齐
经营现金流CMESNEX
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $-1.3B | ||
| Q3 25 | $968.1M | $3.5B | ||
| Q2 25 | $1.1B | $1.5B | ||
| Q1 25 | $1.1B | $-154.5M | ||
| Q4 24 | $1.0B | $-477.8M | ||
| Q3 24 | $1.0B | $192.6M | ||
| Q2 24 | $776.9M | $-622.1M |
自由现金流CMESNEX
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $-1.3B | ||
| Q3 25 | $949.7M | $3.5B | ||
| Q2 25 | $1.0B | $1.5B | ||
| Q1 25 | $1.1B | $-169.8M | ||
| Q4 24 | $991.7M | $-491.4M | ||
| Q3 24 | $973.2M | $175.9M | ||
| Q2 24 | $758.7M | $-640.5M |
自由现金流率CMESNEX
| Q1 26 | — | — | ||
| Q4 25 | 66.8% | -106.4% | ||
| Q3 25 | 61.8% | 10.7% | ||
| Q2 25 | 61.5% | 173.3% | ||
| Q1 25 | 67.1% | -20.7% | ||
| Q4 24 | 65.0% | -74.1% | ||
| Q3 24 | 61.4% | 0.6% | ||
| Q2 24 | 49.5% | -112.0% |
资本支出强度CMESNEX
| Q1 26 | — | — | ||
| Q4 25 | 2.0% | 1.3% | ||
| Q3 25 | 1.2% | 0.1% | ||
| Q2 25 | 1.1% | 1.9% | ||
| Q1 25 | 0.9% | 1.9% | ||
| Q4 24 | 1.7% | 2.1% | ||
| Q3 24 | 1.9% | 0.1% | ||
| Q2 24 | 1.2% | 3.2% |
现金转化率CMESNEX
| Q1 26 | — | — | ||
| Q4 25 | 0.96× | -9.08× | ||
| Q3 25 | 1.07× | 41.18× | ||
| Q2 25 | 1.03× | 23.52× | ||
| Q1 25 | 1.17× | -2.15× | ||
| Q4 24 | 1.16× | -5.61× | ||
| Q3 24 | 1.10× | 2.51× | ||
| Q2 24 | 0.88× | -10.05× |
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
SNEX
| Principal Gains Net | $378.5M | 32% |
| Other | $293.9M | 24% |
| Sales Based Commissions | $214.0M | 18% |
| Exchange Traded Futures And Options | $172.2M | 14% |
| Clearing Service | $79.0M | 7% |
| Equitiesand Fixed Income Commissions | $34.3M | 3% |
| Underwriting Fees | $11.9M | 1% |
| Trailing Commissions | $7.6M | 1% |
| Insurance Annuity Trailing Commissions | $4.0M | 0% |
| Other Consulting Managementand Account Fees | $3.0M | 0% |
| Other Commission And Clearing Fees | $2.1M | 0% |
