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陶氏公司（DOW）与纽蒙特（NEM）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纽蒙特的1.3倍（$9.5B vs $7.3B），陶氏公司同比增速更快（-9.3% vs -31.4%），过去两年纽蒙特的营收复合增速更高（28.8% 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。
纽蒙特公司是总部位于美国科罗拉多州丹佛市的金矿企业，为全球规模最大的金矿开采集团。公司成立于1921年，在全球十余个国家持有金矿资产，还与巴里克矿业共同持有内华达金矿的部分股权，除黄金外也开采铜、银、锌、铅等多种金属。
DOW vs NEM — 直观对比
营收规模更大
DOW
是对方的1.3倍
$7.3B
营收增速更快
DOW
高出22.1%
-31.4%
两年增速更快
NEM
近两年复合增速
-6.9%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $9.5B | $7.3B |
| 净利润 | — | $1.9B |
| 毛利率 | 5.8% | — |
| 营业利润率 | — | — |
| 净利率 | — | 26.0% |
| 营收同比 | -9.3% | -31.4% |
| 净利润同比 | — | -8.3% |
| 每股收益（稀释后） | $-2.16 | $1.68 |
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DOWNEM
| Q1 26 | $9.5B | $7.3B | ||
| Q4 25 | $9.5B | $6.8B | ||
| Q3 25 | $10.0B | $5.5B | ||
| Q2 25 | $10.1B | $5.3B | ||
| Q1 25 | $10.4B | $5.0B | ||
| Q4 24 | $10.4B | $5.7B | ||
| Q3 24 | $10.9B | $4.6B | ||
| Q2 24 | $10.9B | $4.4B |
净利润DOWNEM
| Q1 26 | — | $1.9B | ||
| Q4 25 | $-1.5B | $1.3B | ||
| Q3 25 | $62.0M | $1.8B | ||
| Q2 25 | $-835.0M | $2.1B | ||
| Q1 25 | $-307.0M | $1.9B | ||
| Q4 24 | $-35.0M | $1.4B | ||
| Q3 24 | $214.0M | $922.0M | ||
| Q2 24 | $439.0M | $853.0M |
毛利率DOWNEM
| 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DOWNEM
| Q1 26 | — | — | ||
| Q4 25 | -16.4% | 47.6% | ||
| Q3 25 | 0.7% | 45.4% | ||
| Q2 25 | -6.5% | 58.6% | ||
| Q1 25 | -3.6% | 49.3% | ||
| Q4 24 | 2.1% | 36.3% | ||
| Q3 24 | 3.0% | 23.0% | ||
| Q2 24 | 5.6% | 23.5% |
净利率DOWNEM
| Q1 26 | — | 26.0% | ||
| Q4 25 | -15.6% | 19.1% | ||
| Q3 25 | 0.6% | 33.2% | ||
| Q2 25 | -8.3% | 38.8% | ||
| Q1 25 | -2.9% | 37.7% | ||
| Q4 24 | -0.3% | 24.8% | ||
| Q3 24 | 2.0% | 20.0% | ||
| Q2 24 | 4.0% | 19.4% |
每股收益（稀释后）DOWNEM
| Q1 26 | $-2.16 | $1.68 | ||
| Q4 25 | $-2.16 | $1.19 | ||
| Q3 25 | $0.08 | $1.67 | ||
| Q2 25 | $-1.18 | $1.85 | ||
| Q1 25 | $-0.44 | $1.68 | ||
| Q4 24 | $-0.08 | $1.23 | ||
| Q3 24 | $0.30 | $0.80 | ||
| Q2 24 | $0.62 | $0.74 |
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 | $4.7B |
| 总债务越低越好 | $17.8B | — |
| 股东权益账面价值 | $16.0B | $31.4B |
| 总资产 | $58.5B | $55.5B |
| 负债/权益比越低杠杆越低 | 1.12× | — |
8季度趋势，按日历期对齐
现金及短期投资DOWNEM
| Q1 26 | $3.8B | $4.7B | ||
| Q4 25 | $3.8B | $8.2B | ||
| Q3 25 | $4.6B | $6.0B | ||
| Q2 25 | $2.4B | $6.7B | ||
| Q1 25 | $1.5B | $4.7B | ||
| Q4 24 | $2.2B | $3.6B | ||
| Q3 24 | $2.9B | $3.1B | ||
| Q2 24 | $3.3B | $2.7B |
总债务DOWNEM
| Q1 26 | $17.8B | — | ||
| Q4 25 | $17.8B | $5.1B | ||
| Q3 25 | $17.7B | $5.2B | ||
| Q2 25 | $16.2B | $7.1B | ||
| Q1 25 | $15.9B | $7.5B | ||
| Q4 24 | $15.7B | $8.5B | ||
| Q3 24 | $16.2B | $8.6B | ||
| Q2 24 | $16.0B | $8.7B |
股东权益DOWNEM
| Q1 26 | $16.0B | $31.4B | ||
| Q4 25 | $16.0B | $33.9B | ||
| Q3 25 | $17.5B | $33.2B | ||
| Q2 25 | $17.2B | $32.1B | ||
| Q1 25 | $16.8B | $31.2B | ||
| Q4 24 | $17.4B | $29.9B | ||
| Q3 24 | $18.3B | $29.7B | ||
| Q2 24 | $18.3B | $29.4B |
总资产DOWNEM
| Q1 26 | $58.5B | $55.5B | ||
| Q4 25 | $58.5B | $57.1B | ||
| Q3 25 | $61.0B | $54.7B | ||
| Q2 25 | $59.0B | $55.2B | ||
| Q1 25 | $57.5B | $55.5B | ||
| Q4 24 | $57.3B | $56.3B | ||
| Q3 24 | $59.4B | $56.2B | ||
| Q2 24 | $58.5B | $55.7B |
负债/权益比DOWNEM
| Q1 26 | 1.12× | — | ||
| Q4 25 | 1.12× | 0.15× | ||
| Q3 25 | 1.01× | 0.16× | ||
| Q2 25 | 0.94× | 0.22× | ||
| Q1 25 | 0.95× | 0.24× | ||
| Q4 24 | 0.91× | 0.28× | ||
| Q3 24 | 0.88× | 0.29× | ||
| Q2 24 | 0.87× | 0.30× |
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 | — | — |
| 自由现金流经营现金流 - 资本支出 | — | $1.2B |
| 自由现金流率自由现金流/营收 | — | 16.5% |
| 资本支出强度资本支出/营收 | — | 11.3% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | $7.3B |
8季度趋势，按日历期对齐
经营现金流DOWNEM
| Q1 26 | — | — | ||
| Q4 25 | $284.0M | $3.6B | ||
| Q3 25 | $1.1B | $2.3B | ||
| Q2 25 | $-470.0M | $2.4B | ||
| Q1 25 | $91.0M | $2.0B | ||
| Q4 24 | $814.0M | $2.5B | ||
| Q3 24 | $800.0M | $1.6B | ||
| Q2 24 | $836.0M | $1.4B |
自由现金流DOWNEM
| Q1 26 | — | $1.2B | ||
| Q4 25 | $-284.0M | $2.8B | ||
| Q3 25 | $563.0M | $1.6B | ||
| Q2 25 | $-1.1B | $1.7B | ||
| Q1 25 | $-594.0M | $1.2B | ||
| Q4 24 | $47.0M | $1.6B | ||
| Q3 24 | $64.0M | $771.0M | ||
| Q2 24 | $113.0M | $628.0M |
自由现金流率DOWNEM
| Q1 26 | — | 16.5% | ||
| Q4 25 | -3.0% | 41.3% | ||
| Q3 25 | 5.6% | 28.4% | ||
| Q2 25 | -11.2% | 32.2% | ||
| Q1 25 | -5.7% | 24.1% | ||
| Q4 24 | 0.5% | 28.9% | ||
| Q3 24 | 0.6% | 16.7% | ||
| Q2 24 | 1.0% | 14.3% |
资本支出强度DOWNEM
| Q1 26 | — | 11.3% | ||
| Q4 25 | 6.0% | 11.9% | ||
| Q3 25 | 5.7% | 13.2% | ||
| Q2 25 | 6.6% | 12.7% | ||
| Q1 25 | 6.6% | 16.5% | ||
| Q4 24 | 7.4% | 15.5% | ||
| Q3 24 | 6.8% | 19.0% | ||
| Q2 24 | 6.6% | 18.2% |
现金转化率DOWNEM
| Q1 26 | — | — | ||
| Q4 25 | — | 2.78× | ||
| Q3 25 | 18.18× | 1.25× | ||
| Q2 25 | — | 1.16× | ||
| Q1 25 | — | 1.07× | ||
| Q4 24 | — | 1.79× | ||
| Q3 24 | 3.74× | 1.79× | ||
| Q2 24 | 1.90× | 1.67× |
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
NEM
| Consolidated gold sales, net | $6.0B | 83% |
| Other | $506.0M | 7% |
| Consolidated copper sales, net | $354.0M | 5% |
| Consolidated silver sales, net | $188.0M | 3% |
| Consolidated zinc sales, net | $181.0M | 2% |
| Consolidated lead sales, net | $42.0M | 1% |
