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芝商所（CME）与Solventum（SOLV）财务数据对比。点击上方公司名可切换其他公司
Solventum的季度营收约是芝商所的1.1倍（$2.0B vs $1.9B），Solventum净利率更高（3.2% vs 0.1%，领先3.1%），芝商所同比增速更快（14.5% vs -3.7%），过去两年芝商所的营收复合增速更高（10.8% vs -0.4%）
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。
Solventum是一家总部位于美国的医疗健康企业，于2024年4月1日正式从全球知名多元化工业集团3M分拆后独立运营，继承了原3M旗下医疗板块的技术积累与业务资源，面向全球市场提供专业医疗相关产品及服务。
CME vs SOLV — 直观对比
营收规模更大
SOLV
是对方的1.1倍
$1.9B
营收增速更快
CME
高出18.2%
-3.7%
净利率更高
SOLV
高出3.1%
0.1%
两年增速更快
CME
近两年复合增速
-0.4%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $2.0B |
| 净利润 | $1.2M | $63.0M |
| 毛利率 | — | 51.4% |
| 营业利润率 | 0.1% | 6.3% |
| 净利率 | 0.1% | 3.2% |
| 营收同比 | 14.5% | -3.7% |
| 净利润同比 | 20.7% | 103.2% |
| 每股收益（稀释后） | — | $0.37 |
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CMESOLV
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.6B | $2.0B | ||
| Q3 25 | $1.5B | $2.1B | ||
| Q2 25 | $1.7B | $2.2B | ||
| Q1 25 | $1.6B | $2.1B | ||
| Q4 24 | $1.5B | $2.1B | ||
| Q3 24 | $1.6B | $2.1B | ||
| Q2 24 | $1.5B | $2.1B |
净利润CMESOLV
| Q1 26 | $1.2M | — | ||
| Q4 25 | $1.2B | $63.0M | ||
| Q3 25 | $908.0M | $1.3B | ||
| Q2 25 | $1.0B | $90.0M | ||
| Q1 25 | $956.2M | $137.0M | ||
| Q4 24 | $874.6M | $31.0M | ||
| Q3 24 | $912.8M | $122.0M | ||
| Q2 24 | $883.2M | $89.0M |
毛利率CMESOLV
| Q1 26 | — | — | ||
| Q4 25 | — | 51.4% | ||
| Q3 25 | — | 54.2% | ||
| Q2 25 | — | 54.4% | ||
| Q1 25 | — | 53.8% | ||
| Q4 24 | — | 53.9% | ||
| Q3 24 | — | 56.0% | ||
| Q2 24 | — | 54.6% |
营业利润率CMESOLV
| Q1 26 | 0.1% | — | ||
| Q4 25 | 61.8% | 6.3% | ||
| Q3 25 | 63.3% | 80.6% | ||
| Q2 25 | 66.7% | 9.9% | ||
| Q1 25 | 67.5% | 7.3% | ||
| Q4 24 | 62.1% | 6.6% | ||
| Q3 24 | 64.6% | 13.2% | ||
| Q2 24 | 65.3% | 11.7% |
净利率CMESOLV
| Q1 26 | 0.1% | — | ||
| Q4 25 | 71.7% | 3.2% | ||
| Q3 25 | 59.1% | 60.4% | ||
| Q2 25 | 60.6% | 4.2% | ||
| Q1 25 | 58.2% | 6.6% | ||
| Q4 24 | 57.3% | 1.5% | ||
| Q3 24 | 57.6% | 5.9% | ||
| Q2 24 | 57.6% | 4.3% |
每股收益（稀释后）CMESOLV
| Q1 26 | — | — | ||
| Q4 25 | $3.24 | $0.37 | ||
| Q3 25 | $2.49 | $7.22 | ||
| Q2 25 | $2.81 | $0.51 | ||
| Q1 25 | $2.62 | $0.78 | ||
| Q4 24 | $2.40 | $0.18 | ||
| Q3 24 | $2.50 | $0.70 | ||
| Q2 24 | $2.42 | $0.51 |
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 | $878.0M |
| 总债务越低越好 | $3.4B | $5.0B |
| 股东权益账面价值 | — | $5.0B |
| 总资产 | $202.0B | $14.3B |
| 负债/权益比越低杠杆越低 | — | 1.00× |
8季度趋势，按日历期对齐
现金及短期投资CMESOLV
| Q1 26 | $2.4B | — | ||
| Q4 25 | $4.5B | $878.0M | ||
| Q3 25 | $2.6B | $1.6B | ||
| Q2 25 | $2.1B | $492.0M | ||
| Q1 25 | $1.5B | $534.0M | ||
| Q4 24 | $3.0B | $762.0M | ||
| Q3 24 | $2.4B | $772.0M | ||
| Q2 24 | $1.9B | $897.0M |
总债务CMESOLV
| Q1 26 | $3.4B | — | ||
| Q4 25 | — | $5.0B | ||
| Q3 25 | — | $5.1B | ||
| Q2 25 | — | $7.8B | ||
| Q1 25 | — | $7.9B | ||
| Q4 24 | — | $8.0B | ||
| Q3 24 | — | $8.1B | ||
| Q2 24 | — | $8.3B |
股东权益CMESOLV
| Q1 26 | — | — | ||
| Q4 25 | $28.7B | $5.0B | ||
| Q3 25 | $28.2B | $5.0B | ||
| Q2 25 | $27.7B | $3.6B | ||
| Q1 25 | $27.0B | $3.3B | ||
| Q4 24 | $26.5B | $3.0B | ||
| Q3 24 | $28.2B | $3.2B | ||
| Q2 24 | $27.6B | $2.9B |
总资产CMESOLV
| Q1 26 | $202.0B | — | ||
| Q4 25 | $198.4B | $14.3B | ||
| Q3 25 | $187.1B | $14.0B | ||
| Q2 25 | $179.9B | $15.1B | ||
| Q1 25 | $157.8B | $14.5B | ||
| Q4 24 | $137.4B | $14.5B | ||
| Q3 24 | $137.8B | $14.7B | ||
| Q2 24 | $123.4B | $14.6B |
负债/权益比CMESOLV
| Q1 26 | — | — | ||
| Q4 25 | — | 1.00× | ||
| Q3 25 | — | 1.03× | ||
| Q2 25 | — | 2.14× | ||
| Q1 25 | — | 2.43× | ||
| Q4 24 | — | 2.71× | ||
| Q3 24 | — | 2.54× | ||
| Q2 24 | — | 2.90× |
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 | — | $95.0M |
| 自由现金流经营现金流 - 资本支出 | — | $32.0M |
| 自由现金流率自由现金流/营收 | — | 1.6% |
| 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 | — | 1.51× |
| 过去12个月自由现金流最近4个季度 | — | $-10.0M |
8季度趋势，按日历期对齐
经营现金流CMESOLV
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $95.0M | ||
| Q3 25 | $968.1M | $76.0M | ||
| Q2 25 | $1.1B | $169.0M | ||
| Q1 25 | $1.1B | $29.0M | ||
| Q4 24 | $1.0B | $219.0M | ||
| Q3 24 | $1.0B | $169.0M | ||
| Q2 24 | $776.9M | $355.0M |
自由现金流CMESOLV
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $32.0M | ||
| Q3 25 | $949.7M | $-21.0M | ||
| Q2 25 | $1.0B | $59.0M | ||
| Q1 25 | $1.1B | $-80.0M | ||
| Q4 24 | $991.7M | $92.0M | ||
| Q3 24 | $973.2M | $76.0M | ||
| Q2 24 | $758.7M | $297.0M |
自由现金流率CMESOLV
| Q1 26 | — | — | ||
| Q4 25 | 66.8% | 1.6% | ||
| Q3 25 | 61.8% | -1.0% | ||
| Q2 25 | 61.5% | 2.7% | ||
| Q1 25 | 67.1% | -3.9% | ||
| Q4 24 | 65.0% | 4.4% | ||
| Q3 24 | 61.4% | 3.7% | ||
| Q2 24 | 49.5% | 14.3% |
资本支出强度CMESOLV
| Q1 26 | — | — | ||
| Q4 25 | 2.0% | 3.2% | ||
| Q3 25 | 1.2% | 4.6% | ||
| Q2 25 | 1.1% | 5.1% | ||
| Q1 25 | 0.9% | 5.3% | ||
| Q4 24 | 1.7% | 6.1% | ||
| Q3 24 | 1.9% | 4.5% | ||
| Q2 24 | 1.2% | 2.8% |
现金转化率CMESOLV
| Q1 26 | — | — | ||
| Q4 25 | 0.96× | 1.51× | ||
| Q3 25 | 1.07× | 0.06× | ||
| Q2 25 | 1.03× | 1.88× | ||
| Q1 25 | 1.17× | 0.21× | ||
| Q4 24 | 1.16× | 7.06× | ||
| Q3 24 | 1.10× | 1.39× | ||
| Q2 24 | 0.88× | 3.99× |
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
SOLV
| Infection Prevention And Surgical Solutions | $752.0M | 38% |
| Cost Of Software And Rentals | $508.0M | 25% |
| Health Information Systems Segment | $347.0M | 17% |
| Dental Solutions Segment | $343.0M | 17% |
| Related Party | $14.0M | 1% |
