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COMPASS MINERALS INTERNATIONAL INC（CMP）与PLUG POWER INC（PLUG）财务数据对比。点击上方公司名可切换其他公司
COMPASS MINERALS INTERNATIONAL INC的季度营收约是PLUG POWER INC的1.8倍（$396.1M vs $225.2M），COMPASS MINERALS INTERNATIONAL INC净利率更高（4.7% vs -375.6%，领先380.3%），COMPASS MINERALS INTERNATIONAL INC同比增速更快（28.9% vs 17.6%），COMPASS MINERALS INTERNATIONAL INC自由现金流更多（$-59.8M vs $-153.0M），过去两年PLUG POWER INC的营收复合增速更高（36.8% vs 4.3%）
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。
普拉格能源是一家美国企业，专注于氢燃料电池和电解槽系统的研发，其产品可替代电动设备及车辆所使用的传统电池。公司总部位于纽约州斯林格兰兹，在华盛顿州斯波坎、纽约州罗切斯特均设有生产运营基地。
CMP vs PLUG — 直观对比
营收规模更大
CMP
是对方的1.8倍
$225.2M
营收增速更快
CMP
高出11.3%
17.6%
净利率更高
CMP
高出380.3%
-375.6%
自由现金流更多
CMP
多$93.2M
$-153.0M
两年增速更快
PLUG
近两年复合增速
4.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $396.1M | $225.2M |
| 净利润 | $18.6M | $-846.0M |
| 毛利率 | 16.0% | 2.4% |
| 营业利润率 | 9.2% | -338.9% |
| 净利率 | 4.7% | -375.6% |
| 营收同比 | 28.9% | 17.6% |
| 净利润同比 | 178.8% | 36.7% |
| 每股收益（稀释后） | $0.43 | $-0.70 |
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CMPPLUG
| Q4 25 | $396.1M | $225.2M | ||
| Q3 25 | $227.5M | $177.1M | ||
| Q2 25 | $214.6M | $174.0M | ||
| Q1 25 | $494.6M | $133.7M | ||
| Q4 24 | $307.2M | $191.5M | ||
| Q3 24 | $208.8M | $173.7M | ||
| Q2 24 | $202.9M | $143.3M | ||
| Q1 24 | $364.0M | $120.3M |
净利润CMPPLUG
| Q4 25 | $18.6M | $-846.0M | ||
| Q3 25 | $-7.2M | $-361.9M | ||
| Q2 25 | $-17.0M | $-227.1M | ||
| Q1 25 | $-32.0M | $-196.7M | ||
| Q4 24 | $-23.6M | $-1.3B | ||
| Q3 24 | $-48.3M | $-211.2M | ||
| Q2 24 | $-43.6M | $-262.3M | ||
| Q1 24 | $-38.9M | $-295.8M |
毛利率CMPPLUG
| Q4 25 | 16.0% | 2.4% | ||
| Q3 25 | 16.9% | -67.9% | ||
| Q2 25 | 19.2% | -30.7% | ||
| Q1 25 | 15.5% | -55.3% | ||
| Q4 24 | 11.2% | -122.5% | ||
| Q3 24 | 9.3% | -57.6% | ||
| Q2 24 | 16.1% | -91.6% | ||
| Q1 24 | 19.7% | -132.3% |
营业利润率CMPPLUG
| Q4 25 | 9.2% | -338.9% | ||
| Q3 25 | 5.3% | -197.0% | ||
| Q2 25 | 7.4% | -101.7% | ||
| Q1 25 | -0.6% | -133.5% | ||
| Q4 24 | 0.2% | -678.7% | ||
| Q3 24 | -14.3% | -124.4% | ||
| Q2 24 | 2.9% | -170.7% | ||
| Q1 24 | -10.8% | -215.7% |
净利率CMPPLUG
| Q4 25 | 4.7% | -375.6% | ||
| Q3 25 | -3.2% | -204.4% | ||
| Q2 25 | -7.9% | -130.5% | ||
| Q1 25 | -6.5% | -147.1% | ||
| Q4 24 | -7.7% | -697.5% | ||
| Q3 24 | -23.1% | -121.5% | ||
| Q2 24 | -21.5% | -183.0% | ||
| Q1 24 | -10.7% | -245.9% |
每股收益（稀释后）CMPPLUG
| Q4 25 | $0.43 | $-0.70 | ||
| Q3 25 | — | $-0.31 | ||
| Q2 25 | $-0.41 | $-0.20 | ||
| Q1 25 | $-0.77 | $-0.21 | ||
| Q4 24 | $-0.57 | $-1.61 | ||
| Q3 24 | $-1.17 | $-0.25 | ||
| Q2 24 | $-1.05 | $-0.36 | ||
| Q1 24 | $-0.94 | $-0.46 |
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 | $368.5M |
| 总债务越低越好 | $890.0M | — |
| 股东权益账面价值 | $260.5M | $978.1M |
| 总资产 | $1.5B | $2.6B |
| 负债/权益比越低杠杆越低 | 3.42× | — |
8季度趋势，按日历期对齐
现金及短期投资CMPPLUG
| Q4 25 | $46.7M | $368.5M | ||
| Q3 25 | $59.7M | $165.9M | ||
| Q2 25 | $79.4M | $140.7M | ||
| Q1 25 | $49.5M | $295.8M | ||
| Q4 24 | $45.8M | $205.7M | ||
| Q3 24 | $20.2M | $93.9M | ||
| Q2 24 | $12.8M | $62.4M | ||
| Q1 24 | $38.3M | $172.9M |
总债务CMPPLUG
| Q4 25 | $890.0M | — | ||
| Q3 25 | $839.8M | — | ||
| Q2 25 | $833.4M | — | ||
| Q1 25 | $807.6M | — | ||
| Q4 24 | $974.4M | — | ||
| Q3 24 | $921.2M | $3.9M | ||
| Q2 24 | $875.1M | $3.7M | ||
| Q1 24 | $877.2M | $3.8M |
股东权益CMPPLUG
| Q4 25 | $260.5M | $978.1M | ||
| Q3 25 | $234.1M | $1.4B | ||
| Q2 25 | $249.8M | $1.7B | ||
| Q1 25 | $236.5M | $1.9B | ||
| Q4 24 | $263.0M | $1.7B | ||
| Q3 24 | $316.6M | $3.0B | ||
| Q2 24 | $352.1M | $3.0B | ||
| Q1 24 | $400.4M | $2.9B |
总资产CMPPLUG
| Q4 25 | $1.5B | $2.6B | ||
| Q3 25 | $1.5B | $3.1B | ||
| Q2 25 | $1.5B | $3.4B | ||
| Q1 25 | $1.5B | $3.6B | ||
| Q4 24 | $1.7B | $3.6B | ||
| Q3 24 | $1.6B | $4.7B | ||
| Q2 24 | $1.6B | $4.8B | ||
| Q1 24 | $1.7B | $4.8B |
负债/权益比CMPPLUG
| Q4 25 | 3.42× | — | ||
| Q3 25 | 3.59× | — | ||
| Q2 25 | 3.34× | — | ||
| Q1 25 | 3.41× | — | ||
| Q4 24 | 3.70× | — | ||
| Q3 24 | 2.91× | 0.00× | ||
| Q2 24 | 2.49× | 0.00× | ||
| Q1 24 | 2.19× | 0.00× |
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 | $-148.6M |
| 自由现金流经营现金流 - 资本支出 | $-59.8M | $-153.0M |
| 自由现金流率自由现金流/营收 | -15.1% | -67.9% |
| 资本支出强度资本支出/营收 | 5.8% | 1.9% |
| 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 | $-647.0M |
8季度趋势，按日历期对齐
经营现金流CMPPLUG
| Q4 25 | $-37.0M | $-148.6M | ||
| Q3 25 | $-6.9M | $-89.8M | ||
| Q2 25 | $21.8M | $-191.8M | ||
| Q1 25 | $186.9M | $-105.6M | ||
| Q4 24 | $-4.1M | $-131.2M | ||
| Q3 24 | $-12.7M | $-174.9M | ||
| Q2 24 | $-6.8M | $-254.7M | ||
| Q1 24 | $86.2M | $-167.7M |
自由现金流CMPPLUG
| Q4 25 | $-59.8M | $-153.0M | ||
| Q3 25 | $-22.8M | $-117.5M | ||
| Q2 25 | $3.8M | $-230.4M | ||
| Q1 25 | $172.9M | $-146.0M | ||
| Q4 24 | $-25.9M | $-165.2M | ||
| Q3 24 | $-33.6M | $-234.2M | ||
| Q2 24 | $-21.5M | $-356.0M | ||
| Q1 24 | $56.2M | $-260.3M |
自由现金流率CMPPLUG
| Q4 25 | -15.1% | -67.9% | ||
| Q3 25 | -10.0% | -66.4% | ||
| Q2 25 | 1.8% | -132.5% | ||
| Q1 25 | 35.0% | -109.2% | ||
| Q4 24 | -8.4% | -86.3% | ||
| Q3 24 | -16.1% | -134.8% | ||
| Q2 24 | -10.6% | -248.4% | ||
| Q1 24 | 15.4% | -216.5% |
资本支出强度CMPPLUG
| Q4 25 | 5.8% | 1.9% | ||
| Q3 25 | 7.0% | 15.6% | ||
| Q2 25 | 8.4% | 22.2% | ||
| Q1 25 | 2.8% | 30.3% | ||
| Q4 24 | 7.1% | 17.7% | ||
| Q3 24 | 10.0% | 34.1% | ||
| Q2 24 | 7.2% | 70.7% | ||
| Q1 24 | 8.2% | 77.0% |
现金转化率CMPPLUG
| Q4 25 | -1.99× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| 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% |
PLUG
| Sales Of Equipment And Related Infrastructure | $111.6M | 50% |
| Services Performed On Fuel Cell Systems And Related Infrastructure | $41.5M | 18% |
| Power Purchase Agreements | $36.1M | 16% |
| Sale Of Cryogenic Equipment | $20.0M | 9% |
| Sales Of Fuel Cell Systems | $11.2M | 5% |
| Other | $4.8M | 2% |
