vs
陶氏公司（DOW）与切尼尔能源（LNG）财务数据对比。点击上方公司名可切换其他公司
陶氏公司的季度营收约是切尼尔能源的1.8倍（$9.5B vs $5.4B），切尼尔能源同比增速更快（20.3% vs -9.3%），过去两年切尼尔能源的营收复合增速更高（14.3% vs -6.9%）
陶氏化学是总部位于美国密歇根州米德兰的跨国化工企业，2021年位列全球前三大化工生产商，为特拉华州注册的上市控股公司陶氏公司旗下运营子公司，其产品与解决方案广泛服务于制造业、消费品、基础设施建设等全球多个核心产业领域。
切尼尔能源（Cheniere Energy, Inc.）是总部位于美国得克萨斯州休斯敦的液化天然气（LNG）企业，专注于液化天然气的生产与供应业务，是北美地区颇具影响力的能源行业参与者。
DOW vs LNG — 直观对比
营收规模更大
DOW
是对方的1.8倍
$5.4B
营收增速更快
LNG
高出29.6%
-9.3%
两年增速更快
LNG
近两年复合增速
-6.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $9.5B | $5.4B |
| 净利润 | — | $2.3B |
| 毛利率 | 5.8% | — |
| 营业利润率 | — | 70.8% |
| 净利率 | — | 42.8% |
| 营收同比 | -9.3% | 20.3% |
| 净利润同比 | — | 135.6% |
| 每股收益（稀释后） | $-2.16 | $10.51 |
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DOWLNG
| Q1 26 | $9.5B | — | ||
| Q4 25 | $9.5B | $5.4B | ||
| Q3 25 | $10.0B | $4.3B | ||
| Q2 25 | $10.1B | $4.5B | ||
| Q1 25 | $10.4B | $5.3B | ||
| Q4 24 | $10.4B | $4.5B | ||
| Q3 24 | $10.9B | $3.7B | ||
| Q2 24 | $10.9B | $3.1B |
净利润DOWLNG
| Q1 26 | — | — | ||
| Q4 25 | $-1.5B | $2.3B | ||
| Q3 25 | $62.0M | $1.0B | ||
| Q2 25 | $-835.0M | $1.6B | ||
| Q1 25 | $-307.0M | $353.0M | ||
| Q4 24 | $-35.0M | $977.0M | ||
| Q3 24 | $214.0M | $893.0M | ||
| Q2 24 | $439.0M | $880.0M |
毛利率DOWLNG
| Q1 26 | 5.8% | — | ||
| Q4 25 | 5.8% | — | ||
| Q3 25 | 7.3% | — | ||
| Q2 25 | 5.8% | — | ||
| Q1 25 | 6.4% | — | ||
| Q4 24 | 9.0% | — | ||
| Q3 24 | 9.8% | — | ||
| Q2 24 | 12.1% | — |
营业利润率DOWLNG
| Q1 26 | — | — | ||
| Q4 25 | -16.4% | 70.8% | ||
| Q3 25 | 0.7% | 42.3% | ||
| Q2 25 | -6.5% | 56.1% | ||
| Q1 25 | -3.6% | 18.2% | ||
| Q4 24 | 2.1% | 38.9% | ||
| Q3 24 | 3.0% | 44.7% | ||
| Q2 24 | 5.6% | 50.5% |
净利率DOWLNG
| Q1 26 | — | — | ||
| Q4 25 | -15.6% | 42.8% | ||
| Q3 25 | 0.6% | 24.4% | ||
| Q2 25 | -8.3% | 36.1% | ||
| Q1 25 | -2.9% | 6.7% | ||
| Q4 24 | -0.3% | 21.9% | ||
| Q3 24 | 2.0% | 24.2% | ||
| Q2 24 | 4.0% | 28.0% |
每股收益（稀释后）DOWLNG
| Q1 26 | $-2.16 | — | ||
| Q4 25 | $-2.16 | $10.51 | ||
| Q3 25 | $0.08 | $4.75 | ||
| Q2 25 | $-1.18 | $7.30 | ||
| Q1 25 | $-0.44 | $1.57 | ||
| Q4 24 | $-0.08 | $4.30 | ||
| Q3 24 | $0.30 | $3.93 | ||
| Q2 24 | $0.62 | $3.84 |
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 | $3.8B | $1.1B |
| 总债务越低越好 | $17.8B | $22.5B |
| 股东权益账面价值 | $16.0B | $7.9B |
| 总资产 | $58.5B | $47.9B |
| 负债/权益比越低杠杆越低 | 1.12× | 2.84× |
8季度趋势，按日历期对齐
现金及短期投资DOWLNG
| Q1 26 | $3.8B | — | ||
| Q4 25 | $3.8B | $1.1B | ||
| Q3 25 | $4.6B | $1.1B | ||
| Q2 25 | $2.4B | $1.6B | ||
| Q1 25 | $1.5B | $2.5B | ||
| Q4 24 | $2.2B | $2.6B | ||
| Q3 24 | $2.9B | $2.7B | ||
| Q2 24 | $3.3B | $2.4B |
总债务DOWLNG
| Q1 26 | $17.8B | — | ||
| Q4 25 | $17.8B | $22.5B | ||
| Q3 25 | $17.7B | $22.0B | ||
| Q2 25 | $16.2B | $22.0B | ||
| Q1 25 | $15.9B | $22.5B | ||
| Q4 24 | $15.7B | $22.6B | ||
| Q3 24 | $16.2B | $22.5B | ||
| Q2 24 | $16.0B | $22.6B |
股东权益DOWLNG
| Q1 26 | $16.0B | — | ||
| Q4 25 | $16.0B | $7.9B | ||
| Q3 25 | $17.5B | $6.7B | ||
| Q2 25 | $17.2B | $6.7B | ||
| Q1 25 | $16.8B | $5.6B | ||
| Q4 24 | $17.4B | $5.7B | ||
| Q3 24 | $18.3B | $5.1B | ||
| Q2 24 | $18.3B | $4.5B |
总资产DOWLNG
| Q1 26 | $58.5B | — | ||
| Q4 25 | $58.5B | $47.9B | ||
| Q3 25 | $61.0B | $45.1B | ||
| Q2 25 | $59.0B | $44.6B | ||
| Q1 25 | $57.5B | $43.5B | ||
| Q4 24 | $57.3B | $43.9B | ||
| Q3 24 | $59.4B | $43.1B | ||
| Q2 24 | $58.5B | $42.3B |
负债/权益比DOWLNG
| Q1 26 | 1.12× | — | ||
| Q4 25 | 1.12× | 2.84× | ||
| Q3 25 | 1.01× | 3.25× | ||
| Q2 25 | 0.94× | 3.28× | ||
| Q1 25 | 0.95× | 4.03× | ||
| Q4 24 | 0.91× | 3.96× | ||
| Q3 24 | 0.88× | 4.42× | ||
| Q2 24 | 0.87× | 5.06× |
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 | — | $2.1B |
| 自由现金流经营现金流 - 资本支出 | — | $1.3B |
| 自由现金流率自由现金流/营收 | — | 24.4% |
| 资本支出强度资本支出/营收 | — | 13.8% |
| 现金转化率经营现金流/净利润 | — | 0.89× |
| 过去12个月自由现金流最近4个季度 | — | $2.5B |
8季度趋势，按日历期对齐
经营现金流DOWLNG
| Q1 26 | — | — | ||
| Q4 25 | $284.0M | $2.1B | ||
| Q3 25 | $1.1B | $1.4B | ||
| Q2 25 | $-470.0M | $831.0M | ||
| Q1 25 | $91.0M | $1.2B | ||
| Q4 24 | $814.0M | $1.6B | ||
| Q3 24 | $800.0M | $1.4B | ||
| Q2 24 | $836.0M | $1.1B |
自由现金流DOWLNG
| Q1 26 | — | — | ||
| Q4 25 | $-284.0M | $1.3B | ||
| Q3 25 | $563.0M | $738.0M | ||
| Q2 25 | $-1.1B | $-193.0M | ||
| Q1 25 | $-594.0M | $605.0M | ||
| Q4 24 | $47.0M | $1.1B | ||
| Q3 24 | $64.0M | $875.0M | ||
| Q2 24 | $113.0M | $613.0M |
自由现金流率DOWLNG
| Q1 26 | — | — | ||
| Q4 25 | -3.0% | 24.4% | ||
| Q3 25 | 5.6% | 17.2% | ||
| Q2 25 | -11.2% | -4.3% | ||
| Q1 25 | -5.7% | 11.4% | ||
| Q4 24 | 0.5% | 24.0% | ||
| Q3 24 | 0.6% | 23.8% | ||
| Q2 24 | 1.0% | 19.5% |
资本支出强度DOWLNG
| Q1 26 | — | — | ||
| Q4 25 | 6.0% | 13.8% | ||
| Q3 25 | 5.7% | 16.0% | ||
| Q2 25 | 6.6% | 22.7% | ||
| Q1 25 | 6.6% | 11.8% | ||
| Q4 24 | 7.4% | 12.7% | ||
| Q3 24 | 6.8% | 14.0% | ||
| Q2 24 | 6.6% | 16.0% |
现金转化率DOWLNG
| Q1 26 | — | — | ||
| Q4 25 | — | 0.89× | ||
| Q3 25 | 18.18× | 1.36× | ||
| Q2 25 | — | 0.51× | ||
| Q1 25 | — | 3.48× | ||
| Q4 24 | — | 1.68× | ||
| Q3 24 | 3.74× | 1.56× | ||
| Q2 24 | 1.90× | 1.27× |
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
DOW
暂无分部数据
LNG
| Liquefied Natural Gas | $5.3B | 99% |
| Other | $103.0M | 2% |
| Regasification Service | $34.0M | 1% |
