vs
康明斯（CMI）与自由港麦克莫兰（FCX）财务数据对比。点击上方公司名可切换其他公司
康明斯的季度营收约是自由港麦克莫兰的1.6倍（$8.5B vs $5.3B），自由港麦克莫兰净利率更高（10.7% vs 7.3%，领先3.5%），康明斯同比增速更快（1.1% vs -10.4%），康明斯自由现金流更多（$990.0M vs $-312.0M），过去两年康明斯的营收复合增速更高（0.8% vs -7.9%）
康明斯是总部位于美国的跨国企业，专注于设计、制造及销售柴油发动机、电动汽车零部件、发电产品，同时提供发动机及相关配套设备的维保服务，业务覆盖燃油系统、空气处理系统、过滤设备、排放控制、发电系统及发动机控制单元等多个领域。
自由港麦克莫兰是总部位于美国亚利桑那州凤凰城的矿业企业，是全球最大的钼生产商、主要铜生产商之一，运营着坐落于印度尼西亚巴布亚省的世界最大金矿格拉斯伯格矿。
CMI vs FCX — 直观对比
营收规模更大
CMI
是对方的1.6倍
$5.3B
营收增速更快
CMI
高出11.5%
-10.4%
净利率更高
FCX
高出3.5%
7.3%
自由现金流更多
CMI
多$1.3B
$-312.0M
两年增速更快
CMI
近两年复合增速
-7.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $8.5B | $5.3B |
| 净利润 | $620.0M | $565.0M |
| 毛利率 | 22.9% | 12.4% |
| 营业利润率 | 9.5% | 15.4% |
| 净利率 | 7.3% | 10.7% |
| 营收同比 | 1.1% | -10.4% |
| 净利润同比 | 39.3% | -21.6% |
| 每股收益（稀释后） | $4.25 | — |
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CMIFCX
| Q4 25 | $8.5B | $5.3B | ||
| Q3 25 | $8.3B | $6.8B | ||
| Q2 25 | $8.6B | $7.5B | ||
| Q1 25 | $8.2B | $5.6B | ||
| Q4 24 | $8.4B | $5.9B | ||
| Q3 24 | $8.5B | $6.7B | ||
| Q2 24 | $8.8B | $6.4B | ||
| Q1 24 | $8.4B | $6.2B |
净利润CMIFCX
| Q4 25 | $620.0M | $565.0M | ||
| Q3 25 | $559.0M | $1.2B | ||
| Q2 25 | $928.0M | $1.5B | ||
| Q1 25 | $850.0M | $793.0M | ||
| Q4 24 | $445.0M | $721.0M | ||
| Q3 24 | $843.0M | $1.2B | ||
| Q2 24 | $752.0M | $1.3B | ||
| Q1 24 | $2.0B | $1.2B |
毛利率CMIFCX
| Q4 25 | 22.9% | 12.4% | ||
| Q3 25 | 25.6% | 29.2% | ||
| Q2 25 | 26.4% | 34.2% | ||
| Q1 25 | 26.4% | 24.3% | ||
| Q4 24 | 24.1% | 27.0% | ||
| Q3 24 | 25.7% | 30.0% | ||
| Q2 24 | 24.9% | 31.5% | ||
| Q1 24 | 24.3% | 28.5% |
营业利润率CMIFCX
| Q4 25 | 9.5% | 15.4% | ||
| Q3 25 | 10.2% | 28.9% | ||
| Q2 25 | 14.2% | 32.3% | ||
| Q1 25 | 13.9% | 23.4% | ||
| Q4 24 | 8.7% | 21.1% | ||
| Q3 24 | 12.4% | 29.0% | ||
| Q2 24 | 11.9% | 32.0% | ||
| Q1 24 | 11.0% | 26.3% |
净利率CMIFCX
| Q4 25 | 7.3% | 10.7% | ||
| Q3 25 | 6.7% | 18.3% | ||
| Q2 25 | 10.7% | 20.6% | ||
| Q1 25 | 10.4% | 14.2% | ||
| Q4 24 | 5.3% | 12.3% | ||
| Q3 24 | 10.0% | 18.5% | ||
| Q2 24 | 8.5% | 20.0% | ||
| Q1 24 | 24.1% | 18.7% |
每股收益（稀释后）CMIFCX
| Q4 25 | $4.25 | — | ||
| Q3 25 | $3.86 | $0.46 | ||
| Q2 25 | $6.43 | $0.53 | ||
| Q1 25 | $5.96 | $0.24 | ||
| Q4 24 | $3.22 | — | ||
| Q3 24 | $5.86 | $0.36 | ||
| Q2 24 | $5.26 | $0.42 | ||
| Q1 24 | $14.03 | $0.32 |
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 | $4.4B | $3.8B |
| 总债务越低越好 | $6.8B | $9.4B |
| 股东权益账面价值 | $12.3B | $18.9B |
| 总资产 | $34.0B | $58.2B |
| 负债/权益比越低杠杆越低 | 0.55× | 0.50× |
8季度趋势，按日历期对齐
现金及短期投资CMIFCX
| Q4 25 | $4.4B | $3.8B | ||
| Q3 25 | $3.2B | $4.3B | ||
| Q2 25 | $3.1B | $4.5B | ||
| Q1 25 | $2.2B | $4.4B | ||
| Q4 24 | $2.3B | $3.9B | ||
| Q3 24 | $2.3B | $5.0B | ||
| Q2 24 | $2.2B | $5.3B | ||
| Q1 24 | $3.1B | $5.2B |
总债务CMIFCX
| Q4 25 | $6.8B | $9.4B | ||
| Q3 25 | $6.8B | — | ||
| Q2 25 | $6.8B | — | ||
| Q1 25 | $4.8B | $9.4B | ||
| Q4 24 | $4.8B | $8.9B | ||
| Q3 24 | $4.9B | $9.7B | ||
| Q2 24 | $5.4B | $9.4B | ||
| Q1 24 | $5.8B | $9.4B |
股东权益CMIFCX
| Q4 25 | $12.3B | $18.9B | ||
| Q3 25 | $12.1B | $18.7B | ||
| Q2 25 | $11.8B | $18.2B | ||
| Q1 25 | $10.9B | $17.7B | ||
| Q4 24 | $10.3B | $17.6B | ||
| Q3 24 | $10.3B | $17.5B | ||
| Q2 24 | $9.6B | $17.4B | ||
| Q1 24 | $9.1B | $17.0B |
总资产CMIFCX
| Q4 25 | $34.0B | $58.2B | ||
| Q3 25 | $33.6B | $56.8B | ||
| Q2 25 | $34.3B | $56.5B | ||
| Q1 25 | $32.5B | $56.0B | ||
| Q4 24 | $31.5B | $54.8B | ||
| Q3 24 | $32.1B | $55.4B | ||
| Q2 24 | $31.3B | $54.6B | ||
| Q1 24 | $31.8B | $54.2B |
负债/权益比CMIFCX
| Q4 25 | 0.55× | 0.50× | ||
| Q3 25 | 0.57× | — | ||
| Q2 25 | 0.58× | — | ||
| Q1 25 | 0.44× | 0.53× | ||
| Q4 24 | 0.47× | 0.51× | ||
| Q3 24 | 0.47× | 0.55× | ||
| Q2 24 | 0.57× | 0.54× | ||
| Q1 24 | 0.64× | 0.56× |
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 | $1.5B | $693.0M |
| 自由现金流经营现金流 - 资本支出 | $990.0M | $-312.0M |
| 自由现金流率自由现金流/营收 | 11.6% | -5.9% |
| 资本支出强度资本支出/营收 | 6.4% | 19.1% |
| 现金转化率经营现金流/净利润 | 2.47× | 1.23× |
| 过去12个月自由现金流最近4个季度 | $2.4B | $1.1B |
8季度趋势，按日历期对齐
经营现金流CMIFCX
| Q4 25 | $1.5B | $693.0M | ||
| Q3 25 | $1.3B | $1.7B | ||
| Q2 25 | $785.0M | $2.2B | ||
| Q1 25 | $-3.0M | $1.1B | ||
| Q4 24 | $1.4B | $1.4B | ||
| Q3 24 | $640.0M | $1.9B | ||
| Q2 24 | $-851.0M | $2.0B | ||
| Q1 24 | $276.0M | $1.9B |
自由现金流CMIFCX
| Q4 25 | $990.0M | $-312.0M | ||
| Q3 25 | $1.0B | $608.0M | ||
| Q2 25 | $554.0M | $934.0M | ||
| Q1 25 | $-165.0M | $-114.0M | ||
| Q4 24 | $882.0M | $197.0M | ||
| Q3 24 | $381.0M | $673.0M | ||
| Q2 24 | $-1.1B | $840.0M | ||
| Q1 24 | $107.0M | $642.0M |
自由现金流率CMIFCX
| Q4 25 | 11.6% | -5.9% | ||
| Q3 25 | 12.1% | 8.9% | ||
| Q2 25 | 6.4% | 12.4% | ||
| Q1 25 | -2.0% | -2.0% | ||
| Q4 24 | 10.4% | 3.4% | ||
| Q3 24 | 4.5% | 10.1% | ||
| Q2 24 | -12.4% | 13.1% | ||
| Q1 24 | 1.3% | 10.3% |
资本支出强度CMIFCX
| Q4 25 | 6.4% | 19.1% | ||
| Q3 25 | 3.6% | 15.5% | ||
| Q2 25 | 2.7% | 16.8% | ||
| Q1 25 | 2.0% | 21.0% | ||
| Q4 24 | 6.4% | 21.1% | ||
| Q3 24 | 3.1% | 17.9% | ||
| Q2 24 | 2.7% | 17.4% | ||
| Q1 24 | 2.0% | 20.2% |
现金转化率CMIFCX
| Q4 25 | 2.47× | 1.23× | ||
| Q3 25 | 2.33× | 1.33× | ||
| Q2 25 | 0.85× | 1.42× | ||
| Q1 25 | -0.00× | 1.33× | ||
| Q4 24 | 3.20× | 1.99× | ||
| Q3 24 | 0.76× | 1.51× | ||
| Q2 24 | -1.13× | 1.53× | ||
| Q1 24 | 0.14× | 1.63× |
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
CMI
| Other | $2.9B | 34% |
| Parts | $1.0B | 12% |
| Mediumdutytruckandbus | $638.0M | 7% |
| Heavydutytruck | $623.0M | 7% |
| Intersegmentsales | $620.0M | 7% |
| PSBU Power Generation | $577.0M | 7% |
| Related Party | $469.0M | 5% |
| Services | $449.0M | 5% |
| Lightdutyautomotive | $440.0M | 5% |
| Industrial | $333.0M | 4% |
| Offhighway | $279.0M | 3% |
| Generatortechnologies | $152.0M | 2% |
FCX
| Morenci | $2.5B | 47% |
| Grasberg Segment | $964.0M | 18% |
| Copper In Concentrates | $934.0M | 18% |
| Molybdenum | $541.0M | 10% |
| Gold | $388.0M | 7% |
