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自由港麦克莫兰（FCX）与捷普（JBL）财务数据对比。点击上方公司名可切换其他公司
捷普的季度营收约是自由港麦克莫兰的1.6倍（$8.3B vs $5.3B），自由港麦克莫兰净利率更高（10.7% vs 1.8%，领先9.0%），捷普同比增速更快（18.7% vs -10.4%），捷普自由现金流更多（$228.0M vs $-312.0M），过去两年捷普的营收复合增速更高（10.8% vs -7.9%）
自由港麦克莫兰是总部位于美国亚利桑那州凤凰城的矿业企业，是全球最大的钼生产商、主要铜生产商之一，运营着坐落于印度尼西亚巴布亚省的世界最大金矿格拉斯伯格矿。
捷普（Jabil Inc.）是美国跨国制造企业，业务涵盖电子电路板组件及系统的设计、研发与生产，同时提供供应链服务，核心客户以原始设备制造商（OEM）为主。公司总部位于佛罗里达州圣彼得堡Gateway区域，是坦帕湾地区规模最大的企业之一。
FCX vs JBL — 直观对比
营收规模更大
JBL
是对方的1.6倍
$5.3B
营收增速更快
JBL
高出29.2%
-10.4%
净利率更高
FCX
高出9.0%
1.8%
自由现金流更多
JBL
多$540.0M
$-312.0M
两年增速更快
JBL
近两年复合增速
-7.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $5.3B | $8.3B |
| 净利润 | $565.0M | $146.0M |
| 毛利率 | 12.4% | 8.9% |
| 营业利润率 | 15.4% | 3.4% |
| 净利率 | 10.7% | 1.8% |
| 营收同比 | -10.4% | 18.7% |
| 净利润同比 | -21.6% | 46.0% |
| 每股收益（稀释后） | — | $1.35 |
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FCXJBL
| Q4 25 | $5.3B | $8.3B | ||
| Q3 25 | $6.8B | $8.3B | ||
| Q2 25 | $7.5B | $7.8B | ||
| Q1 25 | $5.6B | $6.7B | ||
| Q4 24 | $5.9B | $7.0B | ||
| Q3 24 | $6.7B | $7.0B | ||
| Q2 24 | $6.4B | $6.8B | ||
| Q1 24 | $6.2B | $6.8B |
净利润FCXJBL
| Q4 25 | $565.0M | $146.0M | ||
| Q3 25 | $1.2B | $218.0M | ||
| Q2 25 | $1.5B | $222.0M | ||
| Q1 25 | $793.0M | $117.0M | ||
| Q4 24 | $721.0M | $100.0M | ||
| Q3 24 | $1.2B | $138.0M | ||
| Q2 24 | $1.3B | $129.0M | ||
| Q1 24 | $1.2B | $927.0M |
毛利率FCXJBL
| Q4 25 | 12.4% | 8.9% | ||
| Q3 25 | 29.2% | 9.5% | ||
| Q2 25 | 34.2% | 8.7% | ||
| Q1 25 | 24.3% | 8.6% | ||
| Q4 24 | 27.0% | 8.7% | ||
| Q3 24 | 30.0% | 9.5% | ||
| Q2 24 | 31.5% | 9.0% | ||
| Q1 24 | 28.5% | 9.3% |
营业利润率FCXJBL
| Q4 25 | 15.4% | 3.4% | ||
| Q3 25 | 28.9% | 4.1% | ||
| Q2 25 | 32.3% | 5.1% | ||
| Q1 25 | 23.4% | 3.6% | ||
| Q4 24 | 21.1% | 2.8% | ||
| Q3 24 | 29.0% | 4.6% | ||
| Q2 24 | 32.0% | 3.9% | ||
| Q1 24 | 26.3% | 16.7% |
净利率FCXJBL
| Q4 25 | 10.7% | 1.8% | ||
| Q3 25 | 18.3% | 2.6% | ||
| Q2 25 | 20.6% | 2.8% | ||
| Q1 25 | 14.2% | 1.7% | ||
| Q4 24 | 12.3% | 1.4% | ||
| Q3 24 | 18.5% | 2.0% | ||
| Q2 24 | 20.0% | 1.9% | ||
| Q1 24 | 18.7% | 13.7% |
每股收益（稀释后）FCXJBL
| Q4 25 | — | $1.35 | ||
| Q3 25 | $0.46 | $1.95 | ||
| Q2 25 | $0.53 | $2.03 | ||
| Q1 25 | $0.24 | $1.06 | ||
| Q4 24 | — | $0.88 | ||
| Q3 24 | $0.36 | $1.33 | ||
| Q2 24 | $0.42 | $1.06 | ||
| Q1 24 | $0.32 | $7.31 |
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 | $1.6B |
| 总债务越低越好 | $9.4B | $2.9B |
| 股东权益账面价值 | $18.9B | $1.3B |
| 总资产 | $58.2B | $19.3B |
| 负债/权益比越低杠杆越低 | 0.50× | 2.15× |
8季度趋势，按日历期对齐
现金及短期投资FCXJBL
| Q4 25 | $3.8B | $1.6B | ||
| Q3 25 | $4.3B | $1.9B | ||
| Q2 25 | $4.5B | $1.5B | ||
| Q1 25 | $4.4B | $1.6B | ||
| Q4 24 | $3.9B | $2.1B | ||
| Q3 24 | $5.0B | $2.2B | ||
| Q2 24 | $5.3B | $2.5B | ||
| Q1 24 | $5.2B | $2.6B |
总债务FCXJBL
| Q4 25 | $9.4B | $2.9B | ||
| Q3 25 | — | $2.9B | ||
| Q2 25 | — | $2.9B | ||
| Q1 25 | $9.4B | $2.9B | ||
| Q4 24 | $8.9B | $2.9B | ||
| Q3 24 | $9.7B | $2.9B | ||
| Q2 24 | $9.4B | $2.9B | ||
| Q1 24 | $9.4B | $2.9B |
股东权益FCXJBL
| Q4 25 | $18.9B | $1.3B | ||
| Q3 25 | $18.7B | $1.5B | ||
| Q2 25 | $18.2B | $1.3B | ||
| Q1 25 | $17.7B | $1.4B | ||
| Q4 24 | $17.6B | $1.6B | ||
| Q3 24 | $17.5B | $1.7B | ||
| Q2 24 | $17.4B | $2.3B | ||
| Q1 24 | $17.0B | $2.7B |
总资产FCXJBL
| Q4 25 | $58.2B | $19.3B | ||
| Q3 25 | $56.8B | $18.5B | ||
| Q2 25 | $56.5B | $18.6B | ||
| Q1 25 | $56.0B | $17.4B | ||
| Q4 24 | $54.8B | $17.8B | ||
| Q3 24 | $55.4B | $17.4B | ||
| Q2 24 | $54.6B | $17.4B | ||
| Q1 24 | $54.2B | $17.1B |
负债/权益比FCXJBL
| Q4 25 | 0.50× | 2.15× | ||
| Q3 25 | — | 1.91× | ||
| Q2 25 | — | 2.24× | ||
| Q1 25 | 0.53× | 2.12× | ||
| Q4 24 | 0.51× | 1.81× | ||
| Q3 24 | 0.55× | 1.66× | ||
| Q2 24 | 0.54× | 1.26× | ||
| Q1 24 | 0.56× | 1.08× |
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 | $693.0M | $323.0M |
| 自由现金流经营现金流 - 资本支出 | $-312.0M | $228.0M |
| 自由现金流率自由现金流/营收 | -5.9% | 2.7% |
| 资本支出强度资本支出/营收 | 19.1% | 1.1% |
| 现金转化率经营现金流/净利润 | 1.23× | 2.21× |
| 过去12个月自由现金流最近4个季度 | $1.1B | $1.2B |
8季度趋势，按日历期对齐
经营现金流FCXJBL
| Q4 25 | $693.0M | $323.0M | ||
| Q3 25 | $1.7B | $588.0M | ||
| Q2 25 | $2.2B | $406.0M | ||
| Q1 25 | $1.1B | $334.0M | ||
| Q4 24 | $1.4B | $312.0M | ||
| Q3 24 | $1.9B | $535.0M | ||
| Q2 24 | $2.0B | $515.0M | ||
| Q1 24 | $1.9B | $218.0M |
自由现金流FCXJBL
| Q4 25 | $-312.0M | $228.0M | ||
| Q3 25 | $608.0M | $419.0M | ||
| Q2 25 | $934.0M | $320.0M | ||
| Q1 25 | $-114.0M | $218.0M | ||
| Q4 24 | $197.0M | $215.0M | ||
| Q3 24 | $673.0M | $411.0M | ||
| Q2 24 | $840.0M | $409.0M | ||
| Q1 24 | $642.0M | $-48.0M |
自由现金流率FCXJBL
| Q4 25 | -5.9% | 2.7% | ||
| Q3 25 | 8.9% | 5.1% | ||
| Q2 25 | 12.4% | 4.1% | ||
| Q1 25 | -2.0% | 3.2% | ||
| Q4 24 | 3.4% | 3.1% | ||
| Q3 24 | 10.1% | 5.9% | ||
| Q2 24 | 13.1% | 6.0% | ||
| Q1 24 | 10.3% | -0.7% |
资本支出强度FCXJBL
| Q4 25 | 19.1% | 1.1% | ||
| Q3 25 | 15.5% | 2.0% | ||
| Q2 25 | 16.8% | 1.1% | ||
| Q1 25 | 21.0% | 1.7% | ||
| Q4 24 | 21.1% | 1.4% | ||
| Q3 24 | 17.9% | 1.8% | ||
| Q2 24 | 17.4% | 1.6% | ||
| Q1 24 | 20.2% | 3.9% |
现金转化率FCXJBL
| Q4 25 | 1.23× | 2.21× | ||
| Q3 25 | 1.33× | 2.70× | ||
| Q2 25 | 1.42× | 1.83× | ||
| Q1 25 | 1.33× | 2.85× | ||
| Q4 24 | 1.99× | 3.12× | ||
| Q3 24 | 1.51× | 3.88× | ||
| Q2 24 | 1.53× | 3.99× | ||
| Q1 24 | 1.63× | 0.24× |
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
FCX
| Morenci | $2.5B | 47% |
| Grasberg Segment | $964.0M | 18% |
| Copper In Concentrates | $934.0M | 18% |
| Molybdenum | $541.0M | 10% |
| Gold | $388.0M | 7% |
JBL
| Intelligent Infrastructure | $4.0B | 49% |
| Transferred Over Time | $2.9B | 35% |
| Connected Living And Digital Commerce | $1.2B | 15% |
| Transferred At Point In Time | $127.0M | 2% |
