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COMPASS MINERALS INTERNATIONAL INC（CMP）与美世（MERC）财务数据对比。点击上方公司名可切换其他公司
美世的季度营收约是COMPASS MINERALS INTERNATIONAL INC的1.1倍（$449.5M vs $396.1M），COMPASS MINERALS INTERNATIONAL INC净利率更高（4.7% vs -68.7%，领先73.4%），COMPASS MINERALS INTERNATIONAL INC同比增速更快（28.9% vs -8.0%），美世自由现金流更多（$32.0M vs $-59.8M），过去两年COMPASS MINERALS INTERNATIONAL INC的营收复合增速更高（4.3% vs -9.9%）
指南针矿产国际是一家美国上市矿产企业，总部位于堪萨斯州欧弗兰帕克，是盐、氯化镁和硫酸钾等产品的领先生产商。公司面向北美和英国客户供应经处理与未经处理的散装道路除冰盐，同时向全球种植者提供植物营养产品，此外也生产民用除冰、水质调节产品及相关商用产品。
美世是1945年成立的美国咨询公司，为全球专业服务集团威达信的四大运营子公司之一，总部位于纽约，在43个国家设有办事处，业务覆盖130个国家，主要为客户提供人力资源与金融咨询服务。
CMP vs MERC — 直观对比
营收规模更大
MERC
是对方的1.1倍
$396.1M
营收增速更快
CMP
高出36.9%
-8.0%
净利率更高
CMP
高出73.4%
-68.7%
自由现金流更多
MERC
多$91.8M
$-59.8M
两年增速更快
CMP
近两年复合增速
-9.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $396.1M | $449.5M |
| 净利润 | $18.6M | $-308.7M |
| 毛利率 | 16.0% | — |
| 营业利润率 | 9.2% | -62.0% |
| 净利率 | 4.7% | -68.7% |
| 营收同比 | 28.9% | -8.0% |
| 净利润同比 | 178.8% | -1947.7% |
| 每股收益（稀释后） | $0.43 | $-4.61 |
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CMPMERC
| Q4 25 | $396.1M | $449.5M | ||
| Q3 25 | $227.5M | $458.1M | ||
| Q2 25 | $214.6M | $453.5M | ||
| Q1 25 | $494.6M | $507.0M | ||
| Q4 24 | $307.2M | $488.4M | ||
| Q3 24 | $208.8M | $502.1M | ||
| Q2 24 | $202.9M | $499.4M | ||
| Q1 24 | $364.0M | $553.4M |
净利润CMPMERC
| Q4 25 | $18.6M | $-308.7M | ||
| Q3 25 | $-7.2M | $-80.8M | ||
| Q2 25 | $-17.0M | $-86.1M | ||
| Q1 25 | $-32.0M | $-22.3M | ||
| Q4 24 | $-23.6M | $16.7M | ||
| Q3 24 | $-48.3M | $-17.6M | ||
| Q2 24 | $-43.6M | $-67.6M | ||
| Q1 24 | $-38.9M | $-16.7M |
毛利率CMPMERC
| Q4 25 | 16.0% | — | ||
| Q3 25 | 16.9% | — | ||
| Q2 25 | 19.2% | — | ||
| Q1 25 | 15.5% | — | ||
| Q4 24 | 11.2% | — | ||
| Q3 24 | 9.3% | — | ||
| Q2 24 | 16.1% | — | ||
| Q1 24 | 19.7% | — |
营业利润率CMPMERC
| Q4 25 | 9.2% | -62.0% | ||
| Q3 25 | 5.3% | -14.8% | ||
| Q2 25 | 7.4% | -12.9% | ||
| Q1 25 | -0.6% | 1.3% | ||
| Q4 24 | 0.2% | 10.3% | ||
| Q3 24 | -14.3% | 1.8% | ||
| Q2 24 | 2.9% | -8.8% | ||
| Q1 24 | -10.8% | -0.1% |
净利率CMPMERC
| Q4 25 | 4.7% | -68.7% | ||
| Q3 25 | -3.2% | -17.6% | ||
| Q2 25 | -7.9% | -19.0% | ||
| Q1 25 | -6.5% | -4.4% | ||
| Q4 24 | -7.7% | 3.4% | ||
| Q3 24 | -23.1% | -3.5% | ||
| Q2 24 | -21.5% | -13.5% | ||
| Q1 24 | -10.7% | -3.0% |
每股收益（稀释后）CMPMERC
| Q4 25 | $0.43 | $-4.61 | ||
| Q3 25 | — | $-1.21 | ||
| Q2 25 | $-0.41 | $-1.29 | ||
| Q1 25 | $-0.77 | $-0.33 | ||
| Q4 24 | $-0.57 | $0.25 | ||
| Q3 24 | $-1.17 | $-0.26 | ||
| Q2 24 | $-1.05 | $-1.01 | ||
| Q1 24 | $-0.94 | $-0.25 |
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 | $46.7M | $186.8M |
| 总债务越低越好 | $890.0M | $1.6B |
| 股东权益账面价值 | $260.5M | $68.1M |
| 总资产 | $1.5B | $2.0B |
| 负债/权益比越低杠杆越低 | 3.42× | 23.58× |
8季度趋势，按日历期对齐
现金及短期投资CMPMERC
| Q4 25 | $46.7M | $186.8M | ||
| Q3 25 | $59.7M | $98.1M | ||
| Q2 25 | $79.4M | $146.5M | ||
| Q1 25 | $49.5M | $181.5M | ||
| Q4 24 | $45.8M | $184.9M | ||
| Q3 24 | $20.2M | $239.0M | ||
| Q2 24 | $12.8M | $263.2M | ||
| Q1 24 | $38.3M | $274.3M |
总债务CMPMERC
| Q4 25 | $890.0M | $1.6B | ||
| Q3 25 | $839.8M | $1.5B | ||
| Q2 25 | $833.4M | $1.5B | ||
| Q1 25 | $807.6M | $1.5B | ||
| Q4 24 | $974.4M | $1.5B | ||
| Q3 24 | $921.2M | $1.6B | ||
| Q2 24 | $875.1M | $1.6B | ||
| Q1 24 | $877.2M | $1.6B |
股东权益CMPMERC
| Q4 25 | $260.5M | $68.1M | ||
| Q3 25 | $234.1M | $359.5M | ||
| Q2 25 | $249.8M | $446.5M | ||
| Q1 25 | $236.5M | $437.4M | ||
| Q4 24 | $263.0M | $429.8M | ||
| Q3 24 | $316.6M | $516.8M | ||
| Q2 24 | $352.1M | $487.7M | ||
| Q1 24 | $400.4M | $573.6M |
总资产CMPMERC
| Q4 25 | $1.5B | $2.0B | ||
| Q3 25 | $1.5B | $2.3B | ||
| Q2 25 | $1.5B | $2.4B | ||
| Q1 25 | $1.5B | $2.3B | ||
| Q4 24 | $1.7B | $2.3B | ||
| Q3 24 | $1.6B | $2.5B | ||
| Q2 24 | $1.6B | $2.5B | ||
| Q1 24 | $1.7B | $2.6B |
负债/权益比CMPMERC
| Q4 25 | 3.42× | 23.58× | ||
| Q3 25 | 3.59× | 4.30× | ||
| Q2 25 | 3.34× | 3.42× | ||
| Q1 25 | 3.41× | 3.44× | ||
| Q4 24 | 3.70× | 3.43× | ||
| Q3 24 | 2.91× | 3.09× | ||
| Q2 24 | 2.49× | 3.22× | ||
| Q1 24 | 2.19× | 2.82× |
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 | $-37.0M | $46.2M |
| 自由现金流经营现金流 - 资本支出 | $-59.8M | $32.0M |
| 自由现金流率自由现金流/营收 | -15.1% | 7.1% |
| 资本支出强度资本支出/营收 | 5.8% | 3.1% |
| 现金转化率经营现金流/净利润 | -1.99× | — |
| 过去12个月自由现金流最近4个季度 | $94.1M | $-80.0M |
8季度趋势，按日历期对齐
经营现金流CMPMERC
| Q4 25 | $-37.0M | $46.2M | ||
| Q3 25 | $-6.9M | $-30.1M | ||
| Q2 25 | $21.8M | $-4.5M | ||
| Q1 25 | $186.9M | $-3.0M | ||
| Q4 24 | $-4.1M | $71.2M | ||
| Q3 24 | $-12.7M | $-13.9M | ||
| Q2 24 | $-6.8M | $62.2M | ||
| Q1 24 | $86.2M | $-29.2M |
自由现金流CMPMERC
| Q4 25 | $-59.8M | $32.0M | ||
| Q3 25 | $-22.8M | $-60.1M | ||
| Q2 25 | $3.8M | $-28.9M | ||
| Q1 25 | $172.9M | $-23.1M | ||
| Q4 24 | $-25.9M | $50.4M | ||
| Q3 24 | $-33.6M | $-41.2M | ||
| Q2 24 | $-21.5M | $44.3M | ||
| Q1 24 | $56.2M | $-47.7M |
自由现金流率CMPMERC
| Q4 25 | -15.1% | 7.1% | ||
| Q3 25 | -10.0% | -13.1% | ||
| Q2 25 | 1.8% | -6.4% | ||
| Q1 25 | 35.0% | -4.6% | ||
| Q4 24 | -8.4% | 10.3% | ||
| Q3 24 | -16.1% | -8.2% | ||
| Q2 24 | -10.6% | 8.9% | ||
| Q1 24 | 15.4% | -8.6% |
资本支出强度CMPMERC
| Q4 25 | 5.8% | 3.1% | ||
| Q3 25 | 7.0% | 6.6% | ||
| Q2 25 | 8.4% | 5.4% | ||
| Q1 25 | 2.8% | 4.0% | ||
| Q4 24 | 7.1% | 4.2% | ||
| Q3 24 | 10.0% | 5.4% | ||
| Q2 24 | 7.2% | 3.6% | ||
| Q1 24 | 8.2% | 3.3% |
现金转化率CMPMERC
| Q4 25 | -1.99× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 4.26× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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
CMP
| Highway Deicing Salt | $210.8M | 53% |
| Consumer Industrial Salt | $120.7M | 30% |
| Plant Nutrition | $60.8M | 15% |
| Transferred Over Time | $2.8M | 1% |
| Other | $1.0M | 0% |
MERC
| Other | $215.3M | 48% |
| Solid Wood | $110.2M | 25% |
| Lumber | $54.9M | 12% |
| Pallets | $23.7M | 5% |
| Energyandchemicals | $18.7M | 4% |
| Manufactured Products | $14.1M | 3% |
| Biofuels | $10.0M | 2% |
| Wood Residuals | $2.6M | 1% |
