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科迪华（CTVA）与通用磨坊（GIS）财务数据对比。点击上方公司名可切换其他公司
通用磨坊的季度营收约是科迪华的1.2倍（$4.9B vs $3.9B），通用磨坊净利率更高（8.5% vs -14.1%，领先22.6%），科迪华同比增速更快（-1.7% vs -7.2%），科迪华自由现金流更多（$4.2B vs $675.7M），过去两年通用磨坊的营收复合增速更高（-2.4% 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。
通用磨坊是美国知名跨国消费食品企业，主营品牌包装食品的生产与营销，产品通过零售渠道面向大众发售。公司发源于明尼阿波利斯市密西西比河畔的圣安东尼瀑布区域，最初以大型面粉加工业务闻名，现总部位于明尼阿波利斯市郊的明尼苏达州金谷市。
CTVA vs GIS — 直观对比
营收规模更大
GIS
是对方的1.2倍
$3.9B
营收增速更快
CTVA
高出5.5%
-7.2%
净利率更高
GIS
高出22.6%
-14.1%
自由现金流更多
CTVA
多$3.5B
$675.7M
两年增速更快
GIS
近两年复合增速
-6.7%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.9B | $4.9B |
| 净利润 | $-552.0M | $413.0M |
| 毛利率 | 42.4% | 34.8% |
| 营业利润率 | -13.6% | 15.0% |
| 净利率 | -14.1% | 8.5% |
| 营收同比 | -1.7% | -7.2% |
| 净利润同比 | -1246.3% | -48.1% |
| 每股收益（稀释后） | $-0.80 | $0.78 |
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CTVAGIS
| Q4 25 | $3.9B | $4.9B | ||
| Q3 25 | $2.6B | $4.5B | ||
| Q2 25 | $6.5B | $4.6B | ||
| Q1 25 | $4.4B | $4.8B | ||
| Q4 24 | $4.0B | $5.2B | ||
| Q3 24 | $2.3B | $4.8B | ||
| Q2 24 | $6.1B | $4.7B | ||
| Q1 24 | $4.5B | $5.1B |
净利润CTVAGIS
| Q4 25 | $-552.0M | $413.0M | ||
| Q3 25 | $-320.0M | $1.2B | ||
| Q2 25 | $1.3B | $294.0M | ||
| Q1 25 | $652.0M | $625.6M | ||
| Q4 24 | $-41.0M | $795.7M | ||
| Q3 24 | $-524.0M | $579.9M | ||
| Q2 24 | $1.1B | $557.5M | ||
| Q1 24 | $419.0M | $670.1M |
毛利率CTVAGIS
| Q4 25 | 42.4% | 34.8% | ||
| Q3 25 | 37.2% | 33.9% | ||
| Q2 25 | 54.6% | 32.4% | ||
| Q1 25 | 47.0% | 33.9% | ||
| Q4 24 | 37.3% | 36.9% | ||
| Q3 24 | 32.7% | 34.8% | ||
| Q2 24 | 52.3% | 35.8% | ||
| Q1 24 | 43.2% | 33.5% |
营业利润率CTVAGIS
| Q4 25 | -13.6% | 15.0% | ||
| Q3 25 | -14.1% | 38.2% | ||
| Q2 25 | 27.9% | 11.1% | ||
| Q1 25 | 17.7% | 18.4% | ||
| Q4 24 | 2.2% | 20.6% | ||
| Q3 24 | -27.2% | 17.2% | ||
| Q2 24 | 21.9% | 16.5% | ||
| Q1 24 | 10.7% | 17.9% |
净利率CTVAGIS
| Q4 25 | -14.1% | 8.5% | ||
| Q3 25 | -12.2% | 26.7% | ||
| Q2 25 | 20.4% | 6.5% | ||
| Q1 25 | 14.8% | 12.9% | ||
| Q4 24 | -1.0% | 15.2% | ||
| Q3 24 | -22.5% | 12.0% | ||
| Q2 24 | 17.2% | 11.8% | ||
| Q1 24 | 9.3% | 13.1% |
每股收益（稀释后）CTVAGIS
| Q4 25 | $-0.80 | $0.78 | ||
| Q3 25 | $-0.47 | $2.22 | ||
| Q2 25 | $1.92 | $0.53 | ||
| Q1 25 | $0.95 | $1.12 | ||
| Q4 24 | $-0.05 | $1.42 | ||
| Q3 24 | $-0.76 | $1.03 | ||
| Q2 24 | $1.51 | $0.98 | ||
| Q1 24 | $0.60 | $1.17 |
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 | $683.4M |
| 总债务越低越好 | $1.7B | $12.2B |
| 股东权益账面价值 | $24.1B | $9.3B |
| 总资产 | $42.8B | $32.5B |
| 负债/权益比越低杠杆越低 | 0.07× | 1.31× |
8季度趋势，按日历期对齐
现金及短期投资CTVAGIS
| Q4 25 | $4.5B | $683.4M | ||
| Q3 25 | $2.6B | $952.9M | ||
| Q2 25 | $2.1B | $363.9M | ||
| Q1 25 | $2.0B | $521.3M | ||
| Q4 24 | $3.2B | $2.3B | ||
| Q3 24 | $2.5B | $468.1M | ||
| Q2 24 | $2.0B | $418.0M | ||
| Q1 24 | $1.7B | $588.6M |
总债务CTVAGIS
| Q4 25 | $1.7B | $12.2B | ||
| Q3 25 | $1.7B | $12.2B | ||
| Q2 25 | $1.7B | $12.7B | ||
| Q1 25 | $1.8B | $11.8B | ||
| Q4 24 | $2.0B | $12.4B | ||
| Q3 24 | $2.0B | $11.4B | ||
| Q2 24 | $2.5B | $11.3B | ||
| Q1 24 | $2.5B | $11.0B |
股东权益CTVAGIS
| Q4 25 | $24.1B | $9.3B | ||
| Q3 25 | $25.2B | $9.5B | ||
| Q2 25 | $25.9B | $9.2B | ||
| Q1 25 | $24.3B | $9.3B | ||
| Q4 24 | $23.8B | $9.2B | ||
| Q3 24 | $24.7B | $9.3B | ||
| Q2 24 | $25.2B | $9.4B | ||
| Q1 24 | $24.8B | $9.4B |
总资产CTVAGIS
| Q4 25 | $42.8B | $32.5B | ||
| Q3 25 | $42.2B | $33.0B | ||
| Q2 25 | $41.8B | $33.1B | ||
| Q1 25 | $42.1B | $32.7B | ||
| Q4 24 | $40.8B | $33.4B | ||
| Q3 24 | $41.9B | $31.8B | ||
| Q2 24 | $41.5B | $31.5B | ||
| Q1 24 | $43.6B | $30.9B |
负债/权益比CTVAGIS
| Q4 25 | 0.07× | 1.31× | ||
| Q3 25 | 0.07× | 1.29× | ||
| Q2 25 | 0.07× | 1.38× | ||
| Q1 25 | 0.07× | 1.28× | ||
| Q4 24 | 0.08× | 1.35× | ||
| Q3 24 | 0.08× | 1.23× | ||
| Q2 24 | 0.10× | 1.20× | ||
| Q1 24 | 0.10× | 1.17× |
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 | $819.3M |
| 自由现金流经营现金流 - 资本支出 | $4.2B | $675.7M |
| 自由现金流率自由现金流/营收 | 106.2% | 13.9% |
| 资本支出强度资本支出/营收 | 5.7% | 3.0% |
| 现金转化率经营现金流/净利润 | — | 1.98× |
| 过去12个月自由现金流最近4个季度 | $2.8B | $1.8B |
8季度趋势，按日历期对齐
经营现金流CTVAGIS
| Q4 25 | $4.4B | $819.3M | ||
| Q3 25 | $193.0M | $397.0M | ||
| Q2 25 | $947.0M | $611.6M | ||
| Q1 25 | $-2.1B | $531.9M | ||
| Q4 24 | $4.2B | $1.2B | ||
| Q3 24 | $130.0M | $624.2M | ||
| Q2 24 | $451.0M | $863.7M | ||
| Q1 24 | $-2.6B | $943.1M |
自由现金流CTVAGIS
| Q4 25 | $4.2B | $675.7M | ||
| Q3 25 | $36.0M | $287.5M | ||
| Q2 25 | $829.0M | $391.4M | ||
| Q1 25 | $-2.2B | $428.0M | ||
| Q4 24 | $4.0B | $989.6M | ||
| Q3 24 | $-24.0M | $483.9M | ||
| Q2 24 | $337.0M | $575.2M | ||
| Q1 24 | $-2.8B | $751.4M |
自由现金流率CTVAGIS
| Q4 25 | 106.2% | 13.9% | ||
| Q3 25 | 1.4% | 6.4% | ||
| Q2 25 | 12.8% | 8.6% | ||
| Q1 25 | -49.9% | 8.8% | ||
| Q4 24 | 100.4% | 18.9% | ||
| Q3 24 | -1.0% | 10.0% | ||
| Q2 24 | 5.5% | 12.2% | ||
| Q1 24 | -61.4% | 14.7% |
资本支出强度CTVAGIS
| Q4 25 | 5.7% | 3.0% | ||
| Q3 25 | 6.0% | 2.4% | ||
| Q2 25 | 1.8% | 4.8% | ||
| Q1 25 | 2.1% | 2.1% | ||
| Q4 24 | 4.6% | 3.1% | ||
| Q3 24 | 6.6% | 2.9% | ||
| Q2 24 | 1.9% | 6.1% | ||
| Q1 24 | 3.3% | 3.8% |
现金转化率CTVAGIS
| Q4 25 | — | 1.98× | ||
| Q3 25 | — | 0.33× | ||
| Q2 25 | 0.72× | 2.08× | ||
| Q1 25 | -3.23× | 0.85× | ||
| Q4 24 | — | 1.45× | ||
| Q3 24 | — | 1.08× | ||
| Q2 24 | 0.43× | 1.55× | ||
| Q1 24 | -6.23× | 1.41× |
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% |
GIS
| Snacks | $1.0B | 21% |
| Convenient Meals | $827.0M | 17% |
| Cereal | $791.2M | 16% |
| Dough | $720.9M | 15% |
| Pet | $698.7M | 14% |
| Baking Mixes And Ingredients | $556.0M | 11% |
| Super Premium Ice Cream | $175.8M | 4% |
| Other Product | $73.3M | 2% |
