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CVR ENERGY INC（CVI）与康宝莱（HLF）财务数据对比。点击上方公司名可切换其他公司
CVR ENERGY INC的季度营收约是康宝莱的1.4倍（$1.8B vs $1.3B），康宝莱净利率更高（6.7% vs -6.1%，领先12.7%），康宝莱同比增速更快（6.3% vs -7.0%），过去两年康宝莱的营收复合增速更高（0.7% vs -1.4%）
CVR能源是总部位于美国的能源控股企业，主营石油炼制与氮肥制造两大核心业务，生产汽油、柴油、航空燃油及农用化肥等产品，主要面向北美地区的商业、工业及农业客户供货。
康宝莱是美国跨国多层次营销企业，主营膳食补充剂的研发与销售。该公司曾被指控涉嫌金字塔骗局欺诈运营，2016年与美国证监会达成协议后调整了薪酬体系，将经销商奖励与可核实的实际销售额挂钩。此外其部分产品曾被曝出引发急性肝炎的相关问题。
CVI vs HLF — 直观对比
营收规模更大
CVI
是对方的1.4倍
$1.3B
营收增速更快
HLF
高出13.2%
-7.0%
净利率更高
HLF
高出12.7%
-6.1%
两年增速更快
HLF
近两年复合增速
-1.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $1.3B |
| 净利润 | $-110.0M | $85.4M |
| 毛利率 | -3.1% | 77.5% |
| 营业利润率 | -5.3% | 7.8% |
| 净利率 | -6.1% | 6.7% |
| 营收同比 | -7.0% | 6.3% |
| 净利润同比 | -492.9% | -52.0% |
| 每股收益（稀释后） | $-1.09 | $0.81 |
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CVIHLF
| Q4 25 | $1.8B | $1.3B | ||
| Q3 25 | $1.9B | $1.3B | ||
| Q2 25 | $1.8B | $1.3B | ||
| Q1 25 | $1.6B | $1.2B | ||
| Q4 24 | $1.9B | $1.2B | ||
| Q3 24 | $1.8B | $1.2B | ||
| Q2 24 | $2.0B | $1.3B | ||
| Q1 24 | $1.9B | $1.3B |
净利润CVIHLF
| Q4 25 | $-110.0M | $85.4M | ||
| Q3 25 | $374.0M | $43.2M | ||
| Q2 25 | $-114.0M | $49.3M | ||
| Q1 25 | $-123.0M | $50.4M | ||
| Q4 24 | $28.0M | $177.9M | ||
| Q3 24 | $-124.0M | $47.4M | ||
| Q2 24 | $21.0M | $4.7M | ||
| Q1 24 | $82.0M | $24.3M |
毛利率CVIHLF
| Q4 25 | -3.1% | 77.5% | ||
| Q3 25 | 28.8% | 77.7% | ||
| Q2 25 | -3.7% | 78.0% | ||
| Q1 25 | -5.5% | 78.3% | ||
| Q4 24 | 3.0% | 77.8% | ||
| Q3 24 | -3.9% | 78.3% | ||
| Q2 24 | 2.9% | 77.9% | ||
| Q1 24 | 8.6% | 77.5% |
营业利润率CVIHLF
| Q4 25 | -5.3% | 7.8% | ||
| Q3 25 | 26.3% | 9.9% | ||
| Q2 25 | -5.8% | 10.5% | ||
| Q1 25 | -8.0% | 10.1% | ||
| Q4 24 | 1.1% | 8.8% | ||
| Q3 24 | -6.2% | 10.2% | ||
| Q2 24 | 1.4% | 6.3% | ||
| Q1 24 | 6.6% | 5.7% |
净利率CVIHLF
| Q4 25 | -6.1% | 6.7% | ||
| Q3 25 | 19.2% | 3.4% | ||
| Q2 25 | -6.5% | 3.9% | ||
| Q1 25 | -7.5% | 4.1% | ||
| Q4 24 | 1.4% | 14.7% | ||
| Q3 24 | -6.8% | 3.8% | ||
| Q2 24 | 1.1% | 0.4% | ||
| Q1 24 | 4.4% | 1.9% |
每股收益（稀释后）CVIHLF
| Q4 25 | $-1.09 | $0.81 | ||
| Q3 25 | $3.72 | $0.42 | ||
| Q2 25 | $-1.14 | $0.48 | ||
| Q1 25 | $-1.22 | $0.49 | ||
| Q4 24 | $0.28 | $1.75 | ||
| Q3 24 | $-1.24 | $0.46 | ||
| Q2 24 | $0.21 | $0.05 | ||
| Q1 24 | $0.81 | $0.24 |
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 | $511.0M | $353.1M |
| 总债务越低越好 | $1.8B | $2.0B |
| 股东权益账面价值 | $730.0M | $-515.1M |
| 总资产 | $3.7B | $2.8B |
| 负债/权益比越低杠杆越低 | 2.40× | — |
8季度趋势，按日历期对齐
现金及短期投资CVIHLF
| Q4 25 | $511.0M | $353.1M | ||
| Q3 25 | $670.0M | $305.5M | ||
| Q2 25 | $596.0M | $320.9M | ||
| Q1 25 | $695.0M | $329.4M | ||
| Q4 24 | $987.0M | $415.3M | ||
| Q3 24 | $534.0M | $402.5M | ||
| Q2 24 | $586.0M | $374.0M | ||
| Q1 24 | $644.0M | $398.3M |
总债务CVIHLF
| Q4 25 | $1.8B | $2.0B | ||
| Q3 25 | $1.8B | $2.0B | ||
| Q2 25 | $1.8B | $2.1B | ||
| Q1 25 | $1.9B | $2.2B | ||
| Q4 24 | $1.9B | $2.3B | ||
| Q3 24 | $1.6B | $2.3B | ||
| Q2 24 | $1.6B | $2.3B | ||
| Q1 24 | $1.6B | $2.4B |
股东权益CVIHLF
| Q4 25 | $730.0M | $-515.1M | ||
| Q3 25 | $840.0M | $-612.0M | ||
| Q2 25 | $466.0M | $-660.5M | ||
| Q1 25 | $580.0M | $-736.0M | ||
| Q4 24 | $703.0M | $-801.1M | ||
| Q3 24 | $675.0M | $-954.2M | ||
| Q2 24 | $849.0M | $-1.0B | ||
| Q1 24 | $879.0M | $-1.0B |
总资产CVIHLF
| Q4 25 | $3.7B | $2.8B | ||
| Q3 25 | $4.0B | $2.7B | ||
| Q2 25 | $4.0B | $2.7B | ||
| Q1 25 | $4.3B | $2.7B | ||
| Q4 24 | $4.3B | $2.7B | ||
| Q3 24 | $3.9B | $2.7B | ||
| Q2 24 | $4.0B | $2.6B | ||
| Q1 24 | $4.1B | $2.6B |
负债/权益比CVIHLF
| Q4 25 | 2.40× | — | ||
| Q3 25 | 2.17× | — | ||
| Q2 25 | 3.97× | — | ||
| Q1 25 | 3.29× | — | ||
| Q4 24 | 2.71× | — | ||
| Q3 24 | 2.33× | — | ||
| Q2 24 | 1.86× | — | ||
| Q1 24 | 1.79× | — |
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 | $0 | $98.3M |
| 自由现金流经营现金流 - 资本支出 | — | $79.8M |
| 自由现金流率自由现金流/营收 | — | 6.2% |
| 资本支出强度资本支出/营收 | 3.0% | 1.4% |
| 现金转化率经营现金流/净利润 | — | 1.15× |
| 过去12个月自由现金流最近4个季度 | — | $252.9M |
8季度趋势，按日历期对齐
经营现金流CVIHLF
| Q4 25 | $0 | $98.3M | ||
| Q3 25 | $163.0M | $138.8M | ||
| Q2 25 | $176.0M | $96.0M | ||
| Q1 25 | $-195.0M | $200.0K | ||
| Q4 24 | $98.0M | $69.6M | ||
| Q3 24 | $48.0M | $99.5M | ||
| Q2 24 | $81.0M | $102.5M | ||
| Q1 24 | $177.0M | $13.8M |
自由现金流CVIHLF
| Q4 25 | — | $79.8M | ||
| Q3 25 | $125.0M | $118.0M | ||
| Q2 25 | $135.0M | $73.2M | ||
| Q1 25 | $-246.0M | $-18.1M | ||
| Q4 24 | $43.0M | $43.9M | ||
| Q3 24 | $14.0M | $72.4M | ||
| Q2 24 | $38.0M | $66.2M | ||
| Q1 24 | $130.0M | $-19.1M |
自由现金流率CVIHLF
| Q4 25 | — | 6.2% | ||
| Q3 25 | 6.4% | 9.3% | ||
| Q2 25 | 7.7% | 5.8% | ||
| Q1 25 | -14.9% | -1.5% | ||
| Q4 24 | 2.2% | 3.6% | ||
| Q3 24 | 0.8% | 5.8% | ||
| Q2 24 | 1.9% | 5.2% | ||
| Q1 24 | 7.0% | -1.5% |
资本支出强度CVIHLF
| Q4 25 | 3.0% | 1.4% | ||
| Q3 25 | 2.0% | 1.6% | ||
| Q2 25 | 2.3% | 1.8% | ||
| Q1 25 | 3.1% | 1.5% | ||
| Q4 24 | 2.8% | 2.1% | ||
| Q3 24 | 1.9% | 2.2% | ||
| Q2 24 | 2.2% | 2.8% | ||
| Q1 24 | 2.5% | 2.6% |
现金转化率CVIHLF
| Q4 25 | — | 1.15× | ||
| Q3 25 | 0.44× | 3.21× | ||
| Q2 25 | — | 1.95× | ||
| Q1 25 | — | 0.00× | ||
| Q4 24 | 3.50× | 0.39× | ||
| Q3 24 | — | 2.10× | ||
| Q2 24 | 3.86× | 21.81× | ||
| Q1 24 | 2.16× | 0.57× |
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
CVI
| Petroleum Segment | $1.6B | 91% |
| Product UAN | $64.0M | 4% |
| Product Ammonia | $51.0M | 3% |
| Renewables Diesel | $27.0M | 1% |
| Product Urea Products | $8.0M | 0% |
| Renewable Fuel Credits | $7.0M | 0% |
HLF
| Others | $514.4M | 40% |
| Other | $300.0M | 23% |
| IN | $250.3M | 20% |
| MX | $147.2M | 11% |
| VN | $71.1M | 6% |
