vs
CNH Industrial N.V.（CNH）与通用动力（PLOW）财务数据对比。点击上方公司名可切换其他公司
CNH Industrial N.V.的季度营收约是通用动力的24.1倍（$4.5B vs $184.5M）。通用动力净利率更高（7.0% vs 1.9%，领先5.0%）。通用动力同比增速更快（28.6% vs 7.8%）。过去两年通用动力的营收复合增速更高（38.9% vs 3.8%）
CNH Industrial是意美跨国企业，全球总部位于英国巴西尔登，由跨国投资公司Exor控股，实际控制方为阿涅利家族。公司核心业务涵盖农业机械、工程设备的设计、生产及销售，覆盖全球所有主要市场，目前正重点拓展高增长市场的业务布局。
通用动力公司是总部位于美国弗吉尼亚州雷斯顿的工业与科技企业，核心业务是研发制造各类先进军用装备，产品包括核潜艇、主战坦克、装甲战车等，同时也生产民用湾流公务机，并提供信息技术服务，是美国联邦政府前五大国防承包商之一。
CNH vs PLOW — 直观对比
营收规模更大
CNH
是对方的24.1倍
$184.5M
营收增速更快
PLOW
高出20.8%
7.8%
净利率更高
PLOW
高出5.0%
1.9%
两年增速更快
PLOW
近两年复合增速
3.8%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $4.5B | $184.5M |
| 净利润 | $86.0M | $12.8M |
| 毛利率 | 18.4% | 26.1% |
| 营业利润率 | 3.0% | 10.5% |
| 净利率 | 1.9% | 7.0% |
| 营收同比 | 7.8% | 28.6% |
| 净利润同比 | -18.9% | 62.3% |
| 每股收益（稀释后） | $0.08 | $0.54 |
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CNHPLOW
| Q4 25 | $4.5B | $184.5M | ||
| Q3 25 | $3.7B | $162.1M | ||
| Q2 25 | $4.0B | $194.3M | ||
| Q1 25 | $3.2B | $115.1M | ||
| Q4 24 | $4.1B | $143.5M | ||
| Q3 24 | $4.0B | $129.4M | ||
| Q2 24 | $4.8B | $199.9M | ||
| Q1 24 | $4.1B | $95.7M |
净利润CNHPLOW
| Q4 25 | $86.0M | $12.8M | ||
| Q3 25 | $80.0M | $8.0M | ||
| Q2 25 | $213.0M | $26.0M | ||
| Q1 25 | $131.0M | $148.0K | ||
| Q4 24 | $106.0M | $7.9M | ||
| Q3 24 | $306.0M | $32.3M | ||
| Q2 24 | $433.0M | $24.3M | ||
| Q1 24 | $401.0M | $-8.4M |
毛利率CNHPLOW
| Q4 25 | 18.4% | 26.1% | ||
| Q3 25 | 19.1% | 23.5% | ||
| Q2 25 | 20.6% | 31.0% | ||
| Q1 25 | 19.0% | 24.5% | ||
| Q4 24 | 19.5% | 24.9% | ||
| Q3 24 | 21.7% | 23.9% | ||
| Q2 24 | 22.9% | 30.7% | ||
| Q1 24 | 22.7% | 19.8% |
营业利润率CNHPLOW
| Q4 25 | 3.0% | 10.5% | ||
| Q3 25 | 1.4% | 8.7% | ||
| Q2 25 | 6.8% | 19.0% | ||
| Q1 25 | 5.1% | 2.8% | ||
| Q4 24 | 5.8% | 9.0% | ||
| Q3 24 | 9.6% | 35.4% | ||
| Q2 24 | 11.1% | 18.2% | ||
| Q1 24 | 11.6% | -6.7% |
净利率CNHPLOW
| Q4 25 | 1.9% | 7.0% | ||
| Q3 25 | 2.2% | 4.9% | ||
| Q2 25 | 5.3% | 13.4% | ||
| Q1 25 | 4.1% | 0.1% | ||
| Q4 24 | 2.6% | 5.5% | ||
| Q3 24 | 7.7% | 24.9% | ||
| Q2 24 | 9.0% | 12.2% | ||
| Q1 24 | 9.7% | -8.7% |
每股收益（稀释后）CNHPLOW
| Q4 25 | $0.08 | $0.54 | ||
| Q3 25 | $0.06 | $0.33 | ||
| Q2 25 | $0.17 | $1.09 | ||
| Q1 25 | $0.10 | $0.00 | ||
| Q4 24 | $0.10 | $0.35 | ||
| Q3 24 | $0.24 | $1.36 | ||
| Q2 24 | $0.34 | $1.02 | ||
| Q1 24 | $0.31 | $-0.37 |
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 | $2.6B | — |
| 总债务越低越好 | — | $144.0M |
| 股东权益账面价值 | $7.8B | $281.4M |
| 总资产 | $42.7B | $626.7M |
| 负债/权益比越低杠杆越低 | — | 0.51× |
8季度趋势，按日历期对齐
现金及短期投资CNHPLOW
| Q4 25 | $2.6B | — | ||
| Q3 25 | $2.3B | — | ||
| Q2 25 | $2.5B | — | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $3.2B | — | ||
| Q3 24 | $1.8B | — | ||
| Q2 24 | $2.0B | — | ||
| Q1 24 | $3.2B | — |
总债务CNHPLOW
| Q4 25 | — | $144.0M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $147.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益CNHPLOW
| Q4 25 | $7.8B | $281.4M | ||
| Q3 25 | $7.8B | $275.3M | ||
| Q2 25 | $7.8B | $273.3M | ||
| Q1 25 | $7.9B | $258.9M | ||
| Q4 24 | $7.7B | $264.2M | ||
| Q3 24 | $7.7B | $260.8M | ||
| Q2 24 | $7.6B | $236.7M | ||
| Q1 24 | $8.0B | $217.2M |
总资产CNHPLOW
| Q4 25 | $42.7B | $626.7M | ||
| Q3 25 | $43.3B | $694.9M | ||
| Q2 25 | $43.7B | $671.5M | ||
| Q1 25 | $42.1B | $621.0M | ||
| Q4 24 | $42.9B | $590.0M | ||
| Q3 24 | $44.0B | $665.6M | ||
| Q2 24 | $44.0B | $617.0M | ||
| Q1 24 | $45.7B | $577.1M |
负债/权益比CNHPLOW
| Q4 25 | — | 0.51× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.56× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $945.0M | $95.9M |
| 自由现金流经营现金流 - 资本支出 | — | $92.8M |
| 自由现金流率自由现金流/营收 | — | 50.3% |
| 资本支出强度资本支出/营收 | — | 1.7% |
| 现金转化率经营现金流/净利润 | 10.99× | 7.47× |
| 过去12个月自由现金流最近4个季度 | — | $63.6M |
8季度趋势，按日历期对齐
经营现金流CNHPLOW
| Q4 25 | $945.0M | $95.9M | ||
| Q3 25 | $659.0M | $-8.5M | ||
| Q2 25 | $772.0M | $-11.4M | ||
| Q1 25 | $162.0M | $-1.3M | ||
| Q4 24 | $1.7B | $74.4M | ||
| Q3 24 | $791.0M | $-14.2M | ||
| Q2 24 | $379.0M | $2.5M | ||
| Q1 24 | $-894.0M | $-21.6M |
自由现金流CNHPLOW
| Q4 25 | — | $92.8M | ||
| Q3 25 | — | $-11.4M | ||
| Q2 25 | — | $-14.3M | ||
| Q1 25 | — | $-3.5M | ||
| Q4 24 | — | $70.2M | ||
| Q3 24 | — | $-15.2M | ||
| Q2 24 | — | $836.0K | ||
| Q1 24 | — | $-22.4M |
自由现金流率CNHPLOW
| Q4 25 | — | 50.3% | ||
| Q3 25 | — | -7.1% | ||
| Q2 25 | — | -7.4% | ||
| Q1 25 | — | -3.0% | ||
| Q4 24 | — | 48.9% | ||
| Q3 24 | — | -11.8% | ||
| Q2 24 | — | 0.4% | ||
| Q1 24 | — | -23.4% |
资本支出强度CNHPLOW
| Q4 25 | — | 1.7% | ||
| Q3 25 | — | 1.8% | ||
| Q2 25 | — | 1.5% | ||
| Q1 25 | — | 1.9% | ||
| Q4 24 | — | 2.9% | ||
| Q3 24 | — | 0.8% | ||
| Q2 24 | — | 0.8% | ||
| Q1 24 | — | 0.8% |
现金转化率CNHPLOW
| Q4 25 | 10.99× | 7.47× | ||
| Q3 25 | 8.24× | -1.07× | ||
| Q2 25 | 3.62× | -0.44× | ||
| Q1 25 | 1.24× | -9.03× | ||
| Q4 24 | 15.96× | 9.41× | ||
| Q3 24 | 2.58× | -0.44× | ||
| Q2 24 | 0.88× | 0.10× | ||
| Q1 24 | -2.23× | — |
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
CNH
| Agricultural Equipment Segment | $3.6B | 81% |
| Construction Equipment Segment | $853.0M | 19% |
| Services | $18.0M | 0% |
PLOW
| Work Truck Solutions | $101.5M | 55% |
| Transferred At Point In Time | $83.1M | 45% |
