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科迪华（CTVA）与艺康（ECL）财务数据对比。点击上方公司名可切换其他公司
艺康的季度营收约是科迪华的1.0倍（$4.1B vs $3.9B），艺康净利率更高（10.6% vs -14.1%，领先24.8%），艺康同比增速更快（10.0% vs -1.7%），过去两年艺康的营收复合增速更高（1.0% vs -6.7%）
科迪华是一家美国农业科技企业，主营种子与作物保护产品，涵盖除草剂、杀虫剂、杀菌剂及生物制剂，业务覆盖全球110个国家，总部位于印第安纳州印第安纳波利斯，旗下大部分种子产品以先锋良种国际品牌销售。
艺康（Ecolab）总部位于美国明尼苏达州圣保罗市，是全球领先的水处理、清洁消毒与卫生防护产品提供商，核心客户群体覆盖各领域商业机构与工业企业，可助力客户提升运营效率、保障公共卫生安全、实现可持续发展。
CTVA vs ECL — 直观对比
营收规模更大
ECL
是对方的1.0倍
$3.9B
营收增速更快
ECL
高出11.8%
-1.7%
净利率更高
ECL
高出24.8%
-14.1%
两年增速更快
ECL
近两年复合增速
-6.7%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.9B | $4.1B |
| 净利润 | $-552.0M | $432.6M |
| 毛利率 | 42.4% | — |
| 营业利润率 | -13.6% | 15.3% |
| 净利率 | -14.1% | 10.6% |
| 营收同比 | -1.7% | 10.0% |
| 净利润同比 | -1246.3% | 1.3% |
| 每股收益（稀释后） | $-0.80 | $1.52 |
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CTVAECL
| Q2 26 | — | $4.1B | ||
| Q4 25 | $3.9B | $4.2B | ||
| Q3 25 | $2.6B | $4.2B | ||
| Q2 25 | $6.5B | $4.0B | ||
| Q1 25 | $4.4B | $3.7B | ||
| Q4 24 | $4.0B | $4.0B | ||
| Q3 24 | $2.3B | $4.0B | ||
| Q2 24 | $6.1B | $4.0B |
净利润CTVAECL
| Q2 26 | — | $432.6M | ||
| Q4 25 | $-552.0M | $563.9M | ||
| Q3 25 | $-320.0M | $585.0M | ||
| Q2 25 | $1.3B | $524.2M | ||
| Q1 25 | $652.0M | $402.5M | ||
| Q4 24 | $-41.0M | $472.9M | ||
| Q3 24 | $-524.0M | $736.5M | ||
| Q2 24 | $1.1B | $490.9M |
毛利率CTVAECL
| Q2 26 | — | — | ||
| Q4 25 | 42.4% | 44.0% | ||
| Q3 25 | 37.2% | 44.8% | ||
| Q2 25 | 54.6% | 44.8% | ||
| Q1 25 | 47.0% | 44.2% | ||
| Q4 24 | 37.3% | 43.3% | ||
| Q3 24 | 32.7% | 43.4% | ||
| Q2 24 | 52.3% | 43.8% |
营业利润率CTVAECL
| Q2 26 | — | 15.3% | ||
| Q4 25 | -13.6% | 17.0% | ||
| Q3 25 | -14.1% | 18.3% | ||
| Q2 25 | 27.9% | 17.6% | ||
| Q1 25 | 17.7% | 15.0% | ||
| Q4 24 | 2.2% | 14.6% | ||
| Q3 24 | -27.2% | 26.1% | ||
| Q2 24 | 21.9% | 16.5% |
净利率CTVAECL
| Q2 26 | — | 10.6% | ||
| Q4 25 | -14.1% | 13.4% | ||
| Q3 25 | -12.2% | 14.0% | ||
| Q2 25 | 20.4% | 13.0% | ||
| Q1 25 | 14.8% | 10.9% | ||
| Q4 24 | -1.0% | 11.8% | ||
| Q3 24 | -22.5% | 18.4% | ||
| Q2 24 | 17.2% | 12.3% |
每股收益（稀释后）CTVAECL
| Q2 26 | — | $1.52 | ||
| Q4 25 | $-0.80 | $1.98 | ||
| Q3 25 | $-0.47 | $2.05 | ||
| Q2 25 | $1.92 | $1.84 | ||
| Q1 25 | $0.95 | $1.41 | ||
| Q4 24 | $-0.05 | $1.65 | ||
| Q3 24 | $-0.76 | $2.58 | ||
| Q2 24 | $1.51 | $1.71 |
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 | $4.5B | $519.8K |
| 总债务越低越好 | $1.7B | $8.5M |
| 股东权益账面价值 | $24.1B | $10.0M |
| 总资产 | $42.8B | $25.0M |
| 负债/权益比越低杠杆越低 | 0.07× | 0.85× |
8季度趋势，按日历期对齐
现金及短期投资CTVAECL
| Q2 26 | — | $519.8K | ||
| Q4 25 | $4.5B | $646.2M | ||
| Q3 25 | $2.6B | $2.0B | ||
| Q2 25 | $2.1B | $1.9B | ||
| Q1 25 | $2.0B | $1.2B | ||
| Q4 24 | $3.2B | $1.3B | ||
| Q3 24 | $2.5B | $1.3B | ||
| Q2 24 | $2.0B | $384.0M |
总债务CTVAECL
| Q2 26 | — | $8.5M | ||
| Q4 25 | $1.7B | $7.4B | ||
| Q3 25 | $1.7B | $8.1B | ||
| Q2 25 | $1.7B | $7.5B | ||
| Q1 25 | $1.8B | $7.0B | ||
| Q4 24 | $2.0B | $6.9B | ||
| Q3 24 | $2.0B | $7.0B | ||
| Q2 24 | $2.5B | $7.5B |
股东权益CTVAECL
| Q2 26 | — | $10.0M | ||
| Q4 25 | $24.1B | $9.8B | ||
| Q3 25 | $25.2B | $9.7B | ||
| Q2 25 | $25.9B | $9.3B | ||
| Q1 25 | $24.3B | $8.9B | ||
| Q4 24 | $23.8B | $8.8B | ||
| Q3 24 | $24.7B | $8.5B | ||
| Q2 24 | $25.2B | $8.3B |
总资产CTVAECL
| Q2 26 | — | $25.0M | ||
| Q4 25 | $42.8B | $24.7B | ||
| Q3 25 | $42.2B | $23.9B | ||
| Q2 25 | $41.8B | $23.7B | ||
| Q1 25 | $42.1B | $22.4B | ||
| Q4 24 | $40.8B | $22.4B | ||
| Q3 24 | $41.9B | $22.1B | ||
| Q2 24 | $41.5B | $21.5B |
负债/权益比CTVAECL
| Q2 26 | — | 0.85× | ||
| Q4 25 | 0.07× | 0.75× | ||
| Q3 25 | 0.07× | 0.83× | ||
| Q2 25 | 0.07× | 0.81× | ||
| Q1 25 | 0.07× | 0.79× | ||
| Q4 24 | 0.08× | 0.79× | ||
| Q3 24 | 0.08× | 0.82× | ||
| Q2 24 | 0.10× | 0.91× |
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 | $4.4B | — |
| 自由现金流经营现金流 - 资本支出 | $4.2B | — |
| 自由现金流率自由现金流/营收 | 106.2% | — |
| 资本支出强度资本支出/营收 | 5.7% | — |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $2.8B | — |
8季度趋势，按日历期对齐
经营现金流CTVAECL
| Q2 26 | — | — | ||
| Q4 25 | $4.4B | $1.1B | ||
| Q3 25 | $193.0M | $791.3M | ||
| Q2 25 | $947.0M | $701.8M | ||
| Q1 25 | $-2.1B | $369.4M | ||
| Q4 24 | $4.2B | $766.7M | ||
| Q3 24 | $130.0M | $786.7M | ||
| Q2 24 | $451.0M | $611.1M |
自由现金流CTVAECL
| Q2 26 | — | — | ||
| Q4 25 | $4.2B | $758.0M | ||
| Q3 25 | $36.0M | $529.7M | ||
| Q2 25 | $829.0M | $485.1M | ||
| Q1 25 | $-2.2B | $131.5M | ||
| Q4 24 | $4.0B | $407.0M | ||
| Q3 24 | $-24.0M | $550.3M | ||
| Q2 24 | $337.0M | $414.2M |
自由现金流率CTVAECL
| Q2 26 | — | — | ||
| Q4 25 | 106.2% | 18.1% | ||
| Q3 25 | 1.4% | 12.7% | ||
| Q2 25 | 12.8% | 12.1% | ||
| Q1 25 | -49.9% | 3.6% | ||
| Q4 24 | 100.4% | 10.2% | ||
| Q3 24 | -1.0% | 13.8% | ||
| Q2 24 | 5.5% | 10.4% |
资本支出强度CTVAECL
| Q2 26 | — | — | ||
| Q4 25 | 5.7% | 7.9% | ||
| Q3 25 | 6.0% | 6.3% | ||
| Q2 25 | 1.8% | 5.4% | ||
| Q1 25 | 2.1% | 6.4% | ||
| Q4 24 | 4.6% | 9.0% | ||
| Q3 24 | 6.6% | 5.9% | ||
| Q2 24 | 1.9% | 4.9% |
现金转化率CTVAECL
| Q2 26 | — | — | ||
| Q4 25 | — | 1.93× | ||
| Q3 25 | — | 1.35× | ||
| Q2 25 | 0.72× | 1.34× | ||
| Q1 25 | -3.23× | 0.92× | ||
| Q4 24 | — | 1.62× | ||
| Q3 24 | — | 1.07× | ||
| Q2 24 | 0.43× | 1.24× |
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
CTVA
| Corn | $1.4B | 35% |
| Herbicides | $1.1B | 27% |
| Insecticides | $488.0M | 12% |
| Fungicides | $272.0M | 7% |
| Biologicals | $191.0M | 5% |
| Soybean | $164.0M | 4% |
| Other | $160.0M | 4% |
| Otheroilseeds | $94.0M | 2% |
ECL
| Product and equipment sales | $3.2B | 78% |
| Service and lease sales | $891.5M | 22% |
