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芝商所（CME）与Toll Brothers, Inc.（TOL）财务数据对比。点击上方公司名可切换其他公司
Toll Brothers, Inc.的季度营收约是芝商所的1.8倍（$3.4B vs $1.9B），Toll Brothers, Inc.净利率更高（13.0% vs 0.1%，领先13.0%），芝商所同比增速更快（14.5% vs 2.7%），过去两年Toll Brothers, Inc.的营收复合增速更高（32.6% 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。
Toll Brothers, Inc.是美国知名住宅建造企业，业务涵盖美国境内住宅及商业地产的开发、营销与融资服务。2020年按住宅建造营收统计，该公司为全美第五大房屋建造商，位列《财富》美国500强第411位。
CME vs TOL — 直观对比
营收规模更大
TOL
是对方的1.8倍
$1.9B
营收增速更快
CME
高出11.8%
2.7%
净利率更高
TOL
高出13.0%
0.1%
两年增速更快
TOL
近两年复合增速
10.8%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $3.4B |
| 净利润 | $1.2M | $446.7M |
| 毛利率 | — | 24.8% |
| 营业利润率 | 0.1% | 16.5% |
| 净利率 | 0.1% | 13.0% |
| 营收同比 | 14.5% | 2.7% |
| 净利润同比 | 20.7% | -6.0% |
| 每股收益（稀释后） | — | $4.51 |
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CMETOL
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.6B | $3.4B | ||
| Q3 25 | $1.5B | $2.9B | ||
| Q2 25 | $1.7B | $2.7B | ||
| Q1 25 | $1.6B | $1.9B | ||
| Q4 24 | $1.5B | $3.3B | ||
| Q3 24 | $1.6B | $2.7B | ||
| Q2 24 | $1.5B | $2.8B |
净利润CMETOL
| Q1 26 | $1.2M | — | ||
| Q4 25 | $1.2B | $446.7M | ||
| Q3 25 | $908.0M | $369.6M | ||
| Q2 25 | $1.0B | $352.4M | ||
| Q1 25 | $956.2M | $177.7M | ||
| Q4 24 | $874.6M | $475.4M | ||
| Q3 24 | $912.8M | $374.6M | ||
| Q2 24 | $883.2M | $481.6M |
毛利率CMETOL
| Q1 26 | — | — | ||
| Q4 25 | — | 24.8% | ||
| Q3 25 | — | 25.2% | ||
| Q2 25 | — | 25.8% | ||
| Q1 25 | — | 24.7% | ||
| Q4 24 | — | 26.4% | ||
| Q3 24 | — | 27.2% | ||
| Q2 24 | — | 30.4% |
营业利润率CMETOL
| Q1 26 | 0.1% | — | ||
| Q4 25 | 61.8% | 16.5% | ||
| Q3 25 | 63.3% | 16.6% | ||
| Q2 25 | 66.7% | 16.4% | ||
| Q1 25 | 67.5% | 11.8% | ||
| Q4 24 | 62.1% | 18.3% | ||
| Q3 24 | 64.6% | 18.2% | ||
| Q2 24 | 65.3% | 22.0% |
净利率CMETOL
| Q1 26 | 0.1% | — | ||
| Q4 25 | 71.7% | 13.0% | ||
| Q3 25 | 59.1% | 12.6% | ||
| Q2 25 | 60.6% | 12.9% | ||
| Q1 25 | 58.2% | 9.6% | ||
| Q4 24 | 57.3% | 14.3% | ||
| Q3 24 | 57.6% | 13.7% | ||
| Q2 24 | 57.6% | 17.0% |
每股收益（稀释后）CMETOL
| Q1 26 | — | — | ||
| Q4 25 | $3.24 | $4.51 | ||
| Q3 25 | $2.49 | $3.73 | ||
| Q2 25 | $2.81 | $3.50 | ||
| Q1 25 | $2.62 | $1.75 | ||
| Q4 24 | $2.40 | $4.61 | ||
| Q3 24 | $2.50 | $3.60 | ||
| Q2 24 | $2.42 | $4.55 |
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 | $1.3B |
| 总债务越低越好 | $3.4B | — |
| 股东权益账面价值 | — | $8.3B |
| 总资产 | $202.0B | $14.5B |
| 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CMETOL
| Q1 26 | $2.4B | — | ||
| Q4 25 | $4.5B | $1.3B | ||
| Q3 25 | $2.6B | $852.3M | ||
| Q2 25 | $2.1B | $686.5M | ||
| Q1 25 | $1.5B | $574.8M | ||
| Q4 24 | $3.0B | $1.3B | ||
| Q3 24 | $2.4B | $893.4M | ||
| Q2 24 | $1.9B | $1.0B |
总债务CMETOL
| Q1 26 | $3.4B | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益CMETOL
| Q1 26 | — | — | ||
| Q4 25 | $28.7B | $8.3B | ||
| Q3 25 | $28.2B | $8.1B | ||
| Q2 25 | $27.7B | $7.9B | ||
| Q1 25 | $27.0B | $7.8B | ||
| Q4 24 | $26.5B | $7.7B | ||
| Q3 24 | $28.2B | $7.4B | ||
| Q2 24 | $27.6B | $7.3B |
总资产CMETOL
| Q1 26 | $202.0B | — | ||
| Q4 25 | $198.4B | $14.5B | ||
| Q3 25 | $187.1B | $14.4B | ||
| Q2 25 | $179.9B | $14.2B | ||
| Q1 25 | $157.8B | $13.6B | ||
| Q4 24 | $137.4B | $13.4B | ||
| Q3 24 | $137.8B | $13.4B | ||
| Q2 24 | $123.4B | $13.3B |
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 | — | $800.0M |
| 自由现金流经营现金流 - 资本支出 | — | $772.2M |
| 自由现金流率自由现金流/营收 | — | 22.6% |
| 资本支出强度资本支出/营收 | — | 0.8% |
| 现金转化率经营现金流/净利润 | — | 1.79× |
| 过去12个月自由现金流最近4个季度 | — | $1.0B |
8季度趋势，按日历期对齐
经营现金流CMETOL
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $800.0M | ||
| Q3 25 | $968.1M | $370.3M | ||
| Q2 25 | $1.1B | $362.8M | ||
| Q1 25 | $1.1B | $-420.8M | ||
| Q4 24 | $1.0B | $682.5M | ||
| Q3 24 | $1.0B | $175.6M | ||
| Q2 24 | $776.9M | $459.0M |
自由现金流CMETOL
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $772.2M | ||
| Q3 25 | $949.7M | $344.9M | ||
| Q2 25 | $1.0B | $347.3M | ||
| Q1 25 | $1.1B | $-438.1M | ||
| Q4 24 | $991.7M | $664.3M | ||
| Q3 24 | $973.2M | $149.9M | ||
| Q2 24 | $758.7M | $442.9M |
自由现金流率CMETOL
| Q1 26 | — | — | ||
| Q4 25 | 66.8% | 22.6% | ||
| Q3 25 | 61.8% | 11.7% | ||
| Q2 25 | 61.5% | 12.7% | ||
| Q1 25 | 67.1% | -23.6% | ||
| Q4 24 | 65.0% | 19.9% | ||
| Q3 24 | 61.4% | 5.5% | ||
| Q2 24 | 49.5% | 15.6% |
资本支出强度CMETOL
| Q1 26 | — | — | ||
| Q4 25 | 2.0% | 0.8% | ||
| Q3 25 | 1.2% | 0.9% | ||
| Q2 25 | 1.1% | 0.6% | ||
| Q1 25 | 0.9% | 0.9% | ||
| Q4 24 | 1.7% | 0.5% | ||
| Q3 24 | 1.9% | 0.9% | ||
| Q2 24 | 1.2% | 0.6% |
现金转化率CMETOL
| Q1 26 | — | — | ||
| Q4 25 | 0.96× | 1.79× | ||
| Q3 25 | 1.07× | 1.00× | ||
| Q2 25 | 1.03× | 1.03× | ||
| Q1 25 | 1.17× | -2.37× | ||
| Q4 24 | 1.16× | 1.44× | ||
| Q3 24 | 1.10× | 0.47× | ||
| Q2 24 | 0.88× | 0.95× |
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
TOL
| Home Building | $3.4B | 100% |
| Land | $9.4M | 0% |
