vs
科迪华（CTVA）与FULLER H B CO（FUL）财务数据对比。点击上方公司名可切换其他公司
科迪华的季度营收约是FULLER H B CO的4.4倍（$3.9B vs $892.0M）。FULLER H B CO净利率更高（7.5% vs -14.1%，领先21.6%）。科迪华同比增速更快（-1.7% vs -2.8%）。科迪华自由现金流更多（$4.2B vs $68.9M）。过去两年FULLER H B CO的营收复合增速更高（5.0% 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。
H.B.富勒公司是总部位于美国明尼苏达州圣保罗的跨国粘合剂制造企业，全球第四大粘合剂及密封剂生产商。公司拥有超过20000种产品，广泛应用于建筑、工程、电子、卫生用品、食品包装等领域，在26个国家设有81座生产基地，2024年员工规模约7500人。
CTVA vs FUL — 直观对比
营收规模更大
CTVA
是对方的4.4倍
$892.0M
营收增速更快
CTVA
高出1.1%
-2.8%
净利率更高
FUL
高出21.6%
-14.1%
自由现金流更多
CTVA
多$4.1B
$68.9M
两年增速更快
FUL
近两年复合增速
-6.7%
损益表 — Q4 2025 vs Q3 2025
| 指标 | | |
|---|---|---|
| 营收 | $3.9B | $892.0M |
| 净利润 | $-552.0M | $67.2M |
| 毛利率 | 42.4% | 32.0% |
| 营业利润率 | -13.6% | 12.3% |
| 净利率 | -14.1% | 7.5% |
| 营收同比 | -1.7% | -2.8% |
| 净利润同比 | -1246.3% | 21.3% |
| 每股收益（稀释后） | $-0.80 | $1.22 |
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CTVAFUL
| Q4 25 | $3.9B | — | ||
| Q3 25 | $2.6B | $892.0M | ||
| Q2 25 | $6.5B | $898.1M | ||
| Q1 25 | $4.4B | — | ||
| Q4 24 | $4.0B | — | ||
| Q3 24 | $2.3B | $917.9M | ||
| Q2 24 | $6.1B | — | ||
| Q1 24 | $4.5B | $810.4M |
净利润CTVAFUL
| Q4 25 | $-552.0M | — | ||
| Q3 25 | $-320.0M | $67.2M | ||
| Q2 25 | $1.3B | $41.8M | ||
| Q1 25 | $652.0M | — | ||
| Q4 24 | $-41.0M | — | ||
| Q3 24 | $-524.0M | $55.4M | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $419.0M | $31.0M |
毛利率CTVAFUL
| Q4 25 | 42.4% | — | ||
| Q3 25 | 37.2% | 32.0% | ||
| Q2 25 | 54.6% | 31.9% | ||
| Q1 25 | 47.0% | — | ||
| Q4 24 | 37.3% | — | ||
| Q3 24 | 32.7% | 30.0% | ||
| Q2 24 | 52.3% | — | ||
| Q1 24 | 43.2% | 29.5% |
营业利润率CTVAFUL
| Q4 25 | -13.6% | — | ||
| Q3 25 | -14.1% | 12.3% | ||
| Q2 25 | 27.9% | 11.1% | ||
| Q1 25 | 17.7% | — | ||
| Q4 24 | 2.2% | — | ||
| Q3 24 | -27.2% | 11.4% | ||
| Q2 24 | 21.9% | — | ||
| Q1 24 | 10.7% | 8.3% |
净利率CTVAFUL
| Q4 25 | -14.1% | — | ||
| Q3 25 | -12.2% | 7.5% | ||
| Q2 25 | 20.4% | 4.7% | ||
| Q1 25 | 14.8% | — | ||
| Q4 24 | -1.0% | — | ||
| Q3 24 | -22.5% | 6.0% | ||
| Q2 24 | 17.2% | — | ||
| Q1 24 | 9.3% | 3.8% |
每股收益（稀释后）CTVAFUL
| Q4 25 | $-0.80 | — | ||
| Q3 25 | $-0.47 | $1.22 | ||
| Q2 25 | $1.92 | $0.76 | ||
| Q1 25 | $0.95 | — | ||
| Q4 24 | $-0.05 | — | ||
| Q3 24 | $-0.76 | $0.98 | ||
| Q2 24 | $1.51 | — | ||
| Q1 24 | $0.60 | $0.55 |
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 | $122.5M |
| 总债务越低越好 | $1.7B | — |
| 股东权益账面价值 | $24.1B | $2.0B |
| 总资产 | $42.8B | $5.2B |
| 负债/权益比越低杠杆越低 | 0.07× | — |
8季度趋势，按日历期对齐
现金及短期投资CTVAFUL
| Q4 25 | $4.5B | — | ||
| Q3 25 | $2.6B | $122.5M | ||
| Q2 25 | $2.1B | $96.8M | ||
| Q1 25 | $2.0B | — | ||
| Q4 24 | $3.2B | — | ||
| Q3 24 | $2.5B | $131.4M | ||
| Q2 24 | $2.0B | — | ||
| Q1 24 | $1.7B | $165.2M |
总债务CTVAFUL
| Q4 25 | $1.7B | — | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.8B | — | ||
| Q4 24 | $2.0B | — | ||
| Q3 24 | $2.0B | — | ||
| Q2 24 | $2.5B | — | ||
| Q1 24 | $2.5B | — |
股东权益CTVAFUL
| Q4 25 | $24.1B | — | ||
| Q3 25 | $25.2B | $2.0B | ||
| Q2 25 | $25.9B | $1.9B | ||
| Q1 25 | $24.3B | — | ||
| Q4 24 | $23.8B | — | ||
| Q3 24 | $24.7B | $1.8B | ||
| Q2 24 | $25.2B | — | ||
| Q1 24 | $24.8B | $1.8B |
总资产CTVAFUL
| Q4 25 | $42.8B | — | ||
| Q3 25 | $42.2B | $5.2B | ||
| Q2 25 | $41.8B | $5.1B | ||
| Q1 25 | $42.1B | — | ||
| Q4 24 | $40.8B | — | ||
| Q3 24 | $41.9B | $5.0B | ||
| Q2 24 | $41.5B | — | ||
| Q1 24 | $43.6B | $4.7B |
负债/权益比CTVAFUL
| Q4 25 | 0.07× | — | ||
| Q3 25 | 0.07× | — | ||
| Q2 25 | 0.07× | — | ||
| Q1 25 | 0.07× | — | ||
| Q4 24 | 0.08× | — | ||
| Q3 24 | 0.08× | — | ||
| Q2 24 | 0.10× | — | ||
| Q1 24 | 0.10× | — |
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 | $99.0M |
| 自由现金流经营现金流 - 资本支出 | $4.2B | $68.9M |
| 自由现金流率自由现金流/营收 | 106.2% | 7.7% |
| 资本支出强度资本支出/营收 | 5.7% | 3.4% |
| 现金转化率经营现金流/净利润 | — | 1.47× |
| 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CTVAFUL
| Q4 25 | $4.4B | — | ||
| Q3 25 | $193.0M | $99.0M | ||
| Q2 25 | $947.0M | — | ||
| Q1 25 | $-2.1B | — | ||
| Q4 24 | $4.2B | — | ||
| Q3 24 | $130.0M | $169.4M | ||
| Q2 24 | $451.0M | — | ||
| Q1 24 | $-2.6B | $47.4M |
自由现金流CTVAFUL
| Q4 25 | $4.2B | — | ||
| Q3 25 | $36.0M | $68.9M | ||
| Q2 25 | $829.0M | — | ||
| Q1 25 | $-2.2B | — | ||
| Q4 24 | $4.0B | — | ||
| Q3 24 | $-24.0M | $99.9M | ||
| Q2 24 | $337.0M | — | ||
| Q1 24 | $-2.8B | $4.1M |
自由现金流率CTVAFUL
| Q4 25 | 106.2% | — | ||
| Q3 25 | 1.4% | 7.7% | ||
| Q2 25 | 12.8% | — | ||
| Q1 25 | -49.9% | — | ||
| Q4 24 | 100.4% | — | ||
| Q3 24 | -1.0% | 10.9% | ||
| Q2 24 | 5.5% | — | ||
| Q1 24 | -61.4% | 0.5% |
资本支出强度CTVAFUL
| Q4 25 | 5.7% | — | ||
| Q3 25 | 6.0% | 3.4% | ||
| Q2 25 | 1.8% | — | ||
| Q1 25 | 2.1% | — | ||
| Q4 24 | 4.6% | — | ||
| Q3 24 | 6.6% | 7.6% | ||
| Q2 24 | 1.9% | — | ||
| Q1 24 | 3.3% | 5.3% |
现金转化率CTVAFUL
| Q4 25 | — | — | ||
| Q3 25 | — | 1.47× | ||
| Q2 25 | 0.72× | — | ||
| Q1 25 | -3.23× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 3.06× | ||
| Q2 24 | 0.43× | — | ||
| Q1 24 | -6.23× | 1.53× |
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% |
FUL
| Hygiene Health And Consumable Adhesives | $386.1M | 43% |
| Engineering Adhesives | $272.3M | 31% |
| Building Adhesives Solutions | $233.7M | 26% |
