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科迪华（CTVA）与希悦尔（SEE）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希悦尔的2.8倍（$3.9B vs $1.4B）。希悦尔净利率更高（3.1% vs -14.1%，领先17.3%）。希悦尔同比增速更快（2.6% vs -1.7%）。科迪华自由现金流更多（$4.2B vs $257.7M）。过去两年希悦尔的营收复合增速更高（2.7% 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。
希悦尔是全球领先的包装与防护解决方案供应商，核心产品包括缓冲防护材料、食品保鲜包装、可持续减废包装系统，服务覆盖电商、零售、食品饮料、工业制造等多个海内外领域。
CTVA vs SEE — 直观对比
营收规模更大
CTVA
是对方的2.8倍
$1.4B
营收增速更快
SEE
高出4.3%
-1.7%
净利率更高
SEE
高出17.3%
-14.1%
自由现金流更多
CTVA
多$3.9B
$257.7M
两年增速更快
SEE
近两年复合增速
-6.7%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $3.9B | $1.4B |
| 净利润 | $-552.0M | $43.8M |
| 毛利率 | 42.4% | 28.6% |
| 营业利润率 | -13.6% | 11.4% |
| 净利率 | -14.1% | 3.1% |
| 营收同比 | -1.7% | 2.6% |
| 净利润同比 | -1246.3% | 700.0% |
| 每股收益（稀释后） | $-0.80 | $0.30 |
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CTVASEE
| Q4 25 | $3.9B | $1.4B | ||
| Q3 25 | $2.6B | $1.3B | ||
| Q2 25 | $6.5B | $1.3B | ||
| Q1 25 | $4.4B | $1.3B | ||
| Q4 24 | $4.0B | $1.4B | ||
| Q3 24 | $2.3B | $1.3B | ||
| Q2 24 | $6.1B | $1.3B | ||
| Q1 24 | $4.5B | $1.3B |
净利润CTVASEE
| Q4 25 | $-552.0M | $43.8M | ||
| Q3 25 | $-320.0M | $255.1M | ||
| Q2 25 | $1.3B | $93.1M | ||
| Q1 25 | $652.0M | $113.5M | ||
| Q4 24 | $-41.0M | $-7.3M | ||
| Q3 24 | $-524.0M | $91.7M | ||
| Q2 24 | $1.1B | $98.3M | ||
| Q1 24 | $419.0M | $82.0M |
毛利率CTVASEE
| Q4 25 | 42.4% | 28.6% | ||
| Q3 25 | 37.2% | 29.8% | ||
| Q2 25 | 54.6% | 30.7% | ||
| Q1 25 | 47.0% | 30.9% | ||
| Q4 24 | 37.3% | 30.0% | ||
| Q3 24 | 32.7% | 30.1% | ||
| Q2 24 | 52.3% | 31.2% | ||
| Q1 24 | 43.2% | 30.3% |
营业利润率CTVASEE
| Q4 25 | -13.6% | 11.4% | ||
| Q3 25 | -14.1% | 13.8% | ||
| Q2 25 | 27.9% | 15.0% | ||
| Q1 25 | 17.7% | 14.5% | ||
| Q4 24 | 2.2% | 11.7% | ||
| Q3 24 | -27.2% | 13.9% | ||
| Q2 24 | 21.9% | 15.4% | ||
| Q1 24 | 10.7% | 14.0% |
净利率CTVASEE
| Q4 25 | -14.1% | 3.1% | ||
| Q3 25 | -12.2% | 19.0% | ||
| Q2 25 | 20.4% | 7.0% | ||
| Q1 25 | 14.8% | 9.0% | ||
| Q4 24 | -1.0% | -0.5% | ||
| Q3 24 | -22.5% | 6.9% | ||
| Q2 24 | 17.2% | 7.4% | ||
| Q1 24 | 9.3% | 6.2% |
每股收益（稀释后）CTVASEE
| Q4 25 | $-0.80 | $0.30 | ||
| Q3 25 | $-0.47 | $1.73 | ||
| Q2 25 | $1.92 | $0.63 | ||
| Q1 25 | $0.95 | $0.77 | ||
| Q4 24 | $-0.05 | $-0.05 | ||
| Q3 24 | $-0.76 | $0.63 | ||
| Q2 24 | $1.51 | $0.67 | ||
| Q1 24 | $0.60 | $0.56 |
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 | $344.0M |
| 总债务越低越好 | $1.7B | $3.3B |
| 股东权益账面价值 | $24.1B | $1.2B |
| 总资产 | $42.8B | $7.0B |
| 负债/权益比越低杠杆越低 | 0.07× | 2.65× |
8季度趋势，按日历期对齐
现金及短期投资CTVASEE
| Q4 25 | $4.5B | $344.0M | ||
| Q3 25 | $2.6B | $282.5M | ||
| Q2 25 | $2.1B | $354.4M | ||
| Q1 25 | $2.0B | $335.2M | ||
| Q4 24 | $3.2B | $371.8M | ||
| Q3 24 | $2.5B | $386.0M | ||
| Q2 24 | $2.0B | $388.6M | ||
| Q1 24 | $1.7B | $352.8M |
总债务CTVASEE
| Q4 25 | $1.7B | $3.3B | ||
| Q3 25 | $1.7B | $4.0B | ||
| Q2 25 | $1.7B | $4.0B | ||
| Q1 25 | $1.8B | $4.2B | ||
| Q4 24 | $2.0B | $4.2B | ||
| Q3 24 | $2.0B | $4.3B | ||
| Q2 24 | $2.5B | $4.4B | ||
| Q1 24 | $2.5B | $4.5B |
股东权益CTVASEE
| Q4 25 | $24.1B | $1.2B | ||
| Q3 25 | $25.2B | $1.2B | ||
| Q2 25 | $25.9B | $953.1M | ||
| Q1 25 | $24.3B | $797.9M | ||
| Q4 24 | $23.8B | $624.5M | ||
| Q3 24 | $24.7B | $771.2M | ||
| Q2 24 | $25.2B | $650.1M | ||
| Q1 24 | $24.8B | $598.3M |
总资产CTVASEE
| Q4 25 | $42.8B | $7.0B | ||
| Q3 25 | $42.2B | $7.1B | ||
| Q2 25 | $41.8B | $7.2B | ||
| Q1 25 | $42.1B | $7.0B | ||
| Q4 24 | $40.8B | $7.0B | ||
| Q3 24 | $41.9B | $7.3B | ||
| Q2 24 | $41.5B | $7.3B | ||
| Q1 24 | $43.6B | $7.2B |
负债/权益比CTVASEE
| Q4 25 | 0.07× | 2.65× | ||
| Q3 25 | 0.07× | 3.34× | ||
| Q2 25 | 0.07× | 4.18× | ||
| Q1 25 | 0.07× | 5.26× | ||
| Q4 24 | 0.08× | 6.72× | ||
| Q3 24 | 0.08× | 5.62× | ||
| Q2 24 | 0.10× | 6.81× | ||
| Q1 24 | 0.10× | 7.49× |
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 | $293.6M |
| 自由现金流经营现金流 - 资本支出 | $4.2B | $257.7M |
| 自由现金流率自由现金流/营收 | 106.2% | 18.5% |
| 资本支出强度资本支出/营收 | 5.7% | 2.6% |
| 现金转化率经营现金流/净利润 | — | 6.70× |
| 过去12个月自由现金流最近4个季度 | $2.8B | $458.5M |
8季度趋势，按日历期对齐
经营现金流CTVASEE
| Q4 25 | $4.4B | $293.6M | ||
| Q3 25 | $193.0M | $165.9M | ||
| Q2 25 | $947.0M | $136.6M | ||
| Q1 25 | $-2.1B | $31.9M | ||
| Q4 24 | $4.2B | $244.2M | ||
| Q3 24 | $130.0M | $170.5M | ||
| Q2 24 | $451.0M | $188.2M | ||
| Q1 24 | $-2.6B | $125.1M |
自由现金流CTVASEE
| Q4 25 | $4.2B | $257.7M | ||
| Q3 25 | $36.0M | $119.6M | ||
| Q2 25 | $829.0M | $93.2M | ||
| Q1 25 | $-2.2B | $-12.0M | ||
| Q4 24 | $4.0B | $185.1M | ||
| Q3 24 | $-24.0M | $115.2M | ||
| Q2 24 | $337.0M | $129.5M | ||
| Q1 24 | $-2.8B | $78.0M |
自由现金流率CTVASEE
| Q4 25 | 106.2% | 18.5% | ||
| Q3 25 | 1.4% | 8.9% | ||
| Q2 25 | 12.8% | 7.0% | ||
| Q1 25 | -49.9% | -0.9% | ||
| Q4 24 | 100.4% | 13.6% | ||
| Q3 24 | -1.0% | 8.6% | ||
| Q2 24 | 5.5% | 9.7% | ||
| Q1 24 | -61.4% | 5.9% |
资本支出强度CTVASEE
| Q4 25 | 5.7% | 2.6% | ||
| Q3 25 | 6.0% | 3.4% | ||
| Q2 25 | 1.8% | 3.3% | ||
| Q1 25 | 2.1% | 3.5% | ||
| Q4 24 | 4.6% | 4.4% | ||
| Q3 24 | 6.6% | 4.1% | ||
| Q2 24 | 1.9% | 4.4% | ||
| Q1 24 | 3.3% | 3.6% |
现金转化率CTVASEE
| Q4 25 | — | 6.70× | ||
| Q3 25 | — | 0.65× | ||
| Q2 25 | 0.72× | 1.47× | ||
| Q1 25 | -3.23× | 0.28× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.86× | ||
| Q2 24 | 0.43× | 1.91× | ||
| 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% |
SEE
| Protective Segment | $1.1B | 78% |
| Other | $292.0M | 21% |
| Pension Plans Defined Benefit | $7.9M | 1% |
