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CNH Industrial N.V.（CNH）与Block, Inc.（XYZ）财务数据对比。点击上方公司名可切换其他公司
Block, Inc.的季度营收约是CNH Industrial N.V.的1.4倍（$6.3B vs $4.5B），CNH Industrial N.V.净利率更高（1.9% vs 1.9%，领先0.1%），CNH Industrial N.V.同比增速更快（7.8% vs 3.6%），过去两年CNH Industrial N.V.的营收复合增速更高（3.8% vs 2.4%）
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。
Block, Inc.是美国科技企业，面向消费者与商户提供金融服务，由杰克·多尔西于2009年创立，是美国销售点系统领域的市场领导者。截至2024年，平台服务5700万用户及400万商户，年支付处理规模达2410亿美元。
CNH vs XYZ — 直观对比
营收规模更大
XYZ
是对方的1.4倍
$4.5B
营收增速更快
CNH
高出4.2%
3.6%
净利率更高
CNH
高出0.1%
1.9%
两年增速更快
CNH
近两年复合增速
2.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.5B | $6.3B |
| 净利润 | $86.0M | $115.8M |
| 毛利率 | 18.4% | 45.9% |
| 营业利润率 | 3.0% | 7.8% |
| 净利率 | 1.9% | 1.9% |
| 营收同比 | 7.8% | 3.6% |
| 净利润同比 | -18.9% | -94.1% |
| 每股收益（稀释后） | $0.08 | $0.19 |
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CNHXYZ
| Q4 25 | $4.5B | $6.3B | ||
| Q3 25 | $3.7B | $6.1B | ||
| Q2 25 | $4.0B | $6.1B | ||
| Q1 25 | $3.2B | $5.8B | ||
| Q4 24 | $4.1B | $6.0B | ||
| Q3 24 | $4.0B | $6.0B | ||
| Q2 24 | $4.8B | $6.2B | ||
| Q1 24 | $4.1B | $6.0B |
净利润CNHXYZ
| Q4 25 | $86.0M | $115.8M | ||
| Q3 25 | $80.0M | $461.5M | ||
| Q2 25 | $213.0M | $538.5M | ||
| Q1 25 | $131.0M | $189.9M | ||
| Q4 24 | $106.0M | $1.9B | ||
| Q3 24 | $306.0M | $283.8M | ||
| Q2 24 | $433.0M | $195.3M | ||
| Q1 24 | $401.0M | $472.0M |
毛利率CNHXYZ
| Q4 25 | 18.4% | 45.9% | ||
| Q3 25 | 19.1% | 43.5% | ||
| Q2 25 | 20.6% | 41.9% | ||
| Q1 25 | 19.0% | 39.7% | ||
| Q4 24 | 19.5% | 38.3% | ||
| Q3 24 | 21.7% | 37.6% | ||
| Q2 24 | 22.9% | 36.3% | ||
| Q1 24 | 22.7% | 35.2% |
营业利润率CNHXYZ
| Q4 25 | 3.0% | 7.8% | ||
| Q3 25 | 1.4% | 6.7% | ||
| Q2 25 | 6.8% | 8.0% | ||
| Q1 25 | 5.1% | 5.7% | ||
| Q4 24 | 5.8% | 0.2% | ||
| Q3 24 | 9.6% | 5.4% | ||
| Q2 24 | 11.1% | 5.0% | ||
| Q1 24 | 11.6% | 4.2% |
净利率CNHXYZ
| Q4 25 | 1.9% | 1.9% | ||
| Q3 25 | 2.2% | 7.5% | ||
| Q2 25 | 5.3% | 8.9% | ||
| Q1 25 | 4.1% | 3.3% | ||
| Q4 24 | 2.6% | 32.3% | ||
| Q3 24 | 7.7% | 4.7% | ||
| Q2 24 | 9.0% | 3.2% | ||
| Q1 24 | 9.7% | 7.9% |
每股收益（稀释后）CNHXYZ
| Q4 25 | $0.08 | $0.19 | ||
| Q3 25 | $0.06 | $0.74 | ||
| Q2 25 | $0.17 | $0.87 | ||
| Q1 25 | $0.10 | $0.30 | ||
| Q4 24 | $0.10 | $3.06 | ||
| Q3 24 | $0.24 | $0.45 | ||
| Q2 24 | $0.34 | $0.31 | ||
| Q1 24 | $0.31 | $0.74 |
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 | $6.6B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $7.8B | $22.2B |
| 总资产 | $42.7B | $39.5B |
| 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CNHXYZ
| Q4 25 | $2.6B | $6.6B | ||
| Q3 25 | $2.3B | $8.3B | ||
| Q2 25 | $2.5B | $6.4B | ||
| Q1 25 | $1.7B | $7.1B | ||
| Q4 24 | $3.2B | $8.1B | ||
| Q3 24 | $1.8B | $8.3B | ||
| Q2 24 | $2.0B | $7.8B | ||
| Q1 24 | $3.2B | $5.8B |
总债务CNHXYZ
| Q4 25 | — | — | ||
| Q3 25 | — | $7.3B | ||
| Q2 25 | — | $5.1B | ||
| Q1 25 | — | $5.1B | ||
| Q4 24 | — | $6.1B | ||
| Q3 24 | — | $6.1B | ||
| Q2 24 | — | $6.1B | ||
| Q1 24 | — | $4.1B |
股东权益CNHXYZ
| Q4 25 | $7.8B | $22.2B | ||
| Q3 25 | $7.8B | $22.5B | ||
| Q2 25 | $7.8B | $22.2B | ||
| Q1 25 | $7.9B | $21.5B | ||
| Q4 24 | $7.7B | $21.3B | ||
| Q3 24 | $7.7B | $19.9B | ||
| Q2 24 | $7.6B | $19.3B | ||
| Q1 24 | $8.0B | $19.0B |
总资产CNHXYZ
| Q4 25 | $42.7B | $39.5B | ||
| Q3 25 | $43.3B | $39.2B | ||
| Q2 25 | $43.7B | $36.9B | ||
| Q1 25 | $42.1B | $36.4B | ||
| Q4 24 | $42.9B | $36.8B | ||
| Q3 24 | $44.0B | $36.4B | ||
| Q2 24 | $44.0B | $37.5B | ||
| Q1 24 | $45.7B | $35.6B |
负债/权益比CNHXYZ
| Q4 25 | — | — | ||
| Q3 25 | — | 0.32× | ||
| Q2 25 | — | 0.23× | ||
| Q1 25 | — | 0.24× | ||
| Q4 24 | — | 0.29× | ||
| Q3 24 | — | 0.31× | ||
| Q2 24 | — | 0.32× | ||
| Q1 24 | — | 0.22× |
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 | $621.0M |
| 自由现金流经营现金流 - 资本支出 | — | $579.8M |
| 自由现金流率自由现金流/营收 | — | 9.3% |
| 资本支出强度资本支出/营收 | — | 0.7% |
| 现金转化率经营现金流/净利润 | 10.99× | 5.36× |
| 过去12个月自由现金流最近4个季度 | — | $2.4B |
8季度趋势，按日历期对齐
经营现金流CNHXYZ
| Q4 25 | $945.0M | $621.0M | ||
| Q3 25 | $659.0M | $1.5B | ||
| Q2 25 | $772.0M | $374.3M | ||
| Q1 25 | $162.0M | $133.3M | ||
| Q4 24 | $1.7B | $13.8M | ||
| Q3 24 | $791.0M | $684.8M | ||
| Q2 24 | $379.0M | $519.4M | ||
| Q1 24 | $-894.0M | $489.4M |
自由现金流CNHXYZ
| Q4 25 | — | $579.8M | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | — | $343.0M | ||
| Q1 25 | — | $101.5M | ||
| Q4 24 | — | $-13.2M | ||
| Q3 24 | — | $628.2M | ||
| Q2 24 | — | $481.0M | ||
| Q1 24 | — | $457.4M |
自由现金流率CNHXYZ
| Q4 25 | — | 9.3% | ||
| Q3 25 | — | 22.9% | ||
| Q2 25 | — | 5.7% | ||
| Q1 25 | — | 1.8% | ||
| Q4 24 | — | -0.2% | ||
| Q3 24 | — | 10.5% | ||
| Q2 24 | — | 7.8% | ||
| Q1 24 | — | 7.7% |
资本支出强度CNHXYZ
| Q4 25 | — | 0.7% | ||
| Q3 25 | — | 0.8% | ||
| Q2 25 | — | 0.5% | ||
| Q1 25 | — | 0.6% | ||
| Q4 24 | — | 0.4% | ||
| Q3 24 | — | 0.9% | ||
| Q2 24 | — | 0.6% | ||
| Q1 24 | — | 0.5% |
现金转化率CNHXYZ
| Q4 25 | 10.99× | 5.36× | ||
| Q3 25 | 8.24× | 3.14× | ||
| Q2 25 | 3.62× | 0.70× | ||
| Q1 25 | 1.24× | 0.70× | ||
| Q4 24 | 15.96× | 0.01× | ||
| Q3 24 | 2.58× | 2.41× | ||
| Q2 24 | 0.88× | 2.66× | ||
| Q1 24 | -2.23× | 1.04× |
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% |
XYZ
| US | $5.7B | 91% |
| Non Us | $560.9M | 9% |
