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自由港麦克莫兰（FCX）与Unum Group（UNM）财务数据对比。点击上方公司名可切换其他公司
自由港麦克莫兰的季度营收约是Unum Group的1.6倍（$5.3B vs $3.4B），自由港麦克莫兰净利率更高（10.7% vs 6.9%，领先3.8%），Unum Group同比增速更快（8.5% vs -10.4%），过去两年Unum Group的营收复合增速更高（1.9% 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。
Unum Group是美国财富500强保险企业，总部位于田纳西州查塔努加，前身为1848年成立的联合相互保险公司，1999年合并后曾用名UnumProvident至2007年。集团现设四大业务板块，覆盖美、英、波兰市场，旗下承保主体包括保罗里维尔人寿保险、普罗维登斯人伤意外险公司等。
FCX vs UNM — 直观对比
营收规模更大
FCX
是对方的1.6倍
$3.4B
营收增速更快
UNM
高出19.0%
-10.4%
净利率更高
FCX
高出3.8%
6.9%
两年增速更快
UNM
近两年复合增速
-7.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $5.3B | $3.4B |
| 净利润 | $565.0M | $232.0M |
| 毛利率 | 12.4% | — |
| 营业利润率 | 15.4% | — |
| 净利率 | 10.7% | 6.9% |
| 营收同比 | -10.4% | 8.5% |
| 净利润同比 | -21.6% | 22.7% |
| 每股收益（稀释后） | — | — |
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FCXUNM
| Q1 26 | — | $3.4B | ||
| Q4 25 | $5.3B | $3.2B | ||
| Q3 25 | $6.8B | $3.4B | ||
| Q2 25 | $7.5B | $3.4B | ||
| Q1 25 | $5.6B | $3.1B | ||
| Q4 24 | $5.9B | $3.2B | ||
| Q3 24 | $6.7B | $3.2B | ||
| Q2 24 | $6.4B | $3.2B |
净利润FCXUNM
| Q1 26 | — | $232.0M | ||
| Q4 25 | $565.0M | $174.1M | ||
| Q3 25 | $1.2B | $39.7M | ||
| Q2 25 | $1.5B | $335.6M | ||
| Q1 25 | $793.0M | $189.1M | ||
| Q4 24 | $721.0M | $348.7M | ||
| Q3 24 | $1.2B | $645.7M | ||
| Q2 24 | $1.3B | $389.5M |
毛利率FCXUNM
| Q1 26 | — | — | ||
| Q4 25 | 12.4% | — | ||
| Q3 25 | 29.2% | — | ||
| Q2 25 | 34.2% | — | ||
| Q1 25 | 24.3% | — | ||
| Q4 24 | 27.0% | — | ||
| Q3 24 | 30.0% | — | ||
| Q2 24 | 31.5% | — |
营业利润率FCXUNM
| Q1 26 | — | — | ||
| Q4 25 | 15.4% | 6.7% | ||
| Q3 25 | 28.9% | 1.6% | ||
| Q2 25 | 32.3% | 12.4% | ||
| Q1 25 | 23.4% | 7.9% | ||
| Q4 24 | 21.1% | 13.8% | ||
| Q3 24 | 29.0% | 15.6% | ||
| Q2 24 | 32.0% | 15.3% |
净利率FCXUNM
| Q1 26 | — | 6.9% | ||
| Q4 25 | 10.7% | 5.4% | ||
| Q3 25 | 18.3% | 1.2% | ||
| Q2 25 | 20.6% | 10.0% | ||
| Q1 25 | 14.2% | 6.1% | ||
| Q4 24 | 12.3% | 10.8% | ||
| Q3 24 | 18.5% | 20.1% | ||
| Q2 24 | 20.0% | 12.0% |
每股收益（稀释后）FCXUNM
| Q1 26 | — | — | ||
| Q4 25 | — | $1.06 | ||
| Q3 25 | $0.46 | $0.23 | ||
| Q2 25 | $0.53 | $1.92 | ||
| Q1 25 | $0.24 | $1.06 | ||
| Q4 24 | — | $1.91 | ||
| Q3 24 | $0.36 | $3.46 | ||
| Q2 24 | $0.42 | $2.05 |
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 | $2.1M |
| 总债务越低越好 | $9.4B | $3.8M |
| 股东权益账面价值 | $18.9B | $10.9M |
| 总资产 | $58.2B | $62.7M |
| 负债/权益比越低杠杆越低 | 0.50× | 0.35× |
8季度趋势，按日历期对齐
现金及短期投资FCXUNM
| Q1 26 | — | $2.1M | ||
| Q4 25 | $3.8B | — | ||
| Q3 25 | $4.3B | — | ||
| Q2 25 | $4.5B | — | ||
| Q1 25 | $4.4B | — | ||
| Q4 24 | $3.9B | — | ||
| Q3 24 | $5.0B | — | ||
| Q2 24 | $5.3B | — |
总债务FCXUNM
| Q1 26 | — | $3.8M | ||
| Q4 25 | $9.4B | $3.8B | ||
| Q3 25 | — | $3.5B | ||
| Q2 25 | — | $3.5B | ||
| Q1 25 | $9.4B | $3.5B | ||
| Q4 24 | $8.9B | $3.5B | ||
| Q3 24 | $9.7B | $3.5B | ||
| Q2 24 | $9.4B | $3.5B |
股东权益FCXUNM
| Q1 26 | — | $10.9M | ||
| Q4 25 | $18.9B | $11.1B | ||
| Q3 25 | $18.7B | $10.9B | ||
| Q2 25 | $18.2B | $11.3B | ||
| Q1 25 | $17.7B | $11.2B | ||
| Q4 24 | $17.6B | $11.0B | ||
| Q3 24 | $17.5B | $11.0B | ||
| Q2 24 | $17.4B | $10.5B |
总资产FCXUNM
| Q1 26 | — | $62.7M | ||
| Q4 25 | $58.2B | $63.5B | ||
| Q3 25 | $56.8B | $63.7B | ||
| Q2 25 | $56.5B | $62.8B | ||
| Q1 25 | $56.0B | $62.5B | ||
| Q4 24 | $54.8B | $62.0B | ||
| Q3 24 | $55.4B | $64.1B | ||
| Q2 24 | $54.6B | $62.0B |
负债/权益比FCXUNM
| Q1 26 | — | 0.35× | ||
| Q4 25 | 0.50× | 0.34× | ||
| Q3 25 | — | 0.32× | ||
| Q2 25 | — | 0.31× | ||
| Q1 25 | 0.53× | 0.31× | ||
| Q4 24 | 0.51× | 0.32× | ||
| Q3 24 | 0.55× | 0.32× | ||
| Q2 24 | 0.54× | 0.33× |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $-312.0M | — |
| 自由现金流率自由现金流/营收 | -5.9% | — |
| 资本支出强度资本支出/营收 | 19.1% | — |
| 现金转化率经营现金流/净利润 | 1.23× | — |
| 过去12个月自由现金流最近4个季度 | $1.1B | — |
8季度趋势，按日历期对齐
经营现金流FCXUNM
| Q1 26 | — | — | ||
| Q4 25 | $693.0M | $357.9M | ||
| Q3 25 | $1.7B | $-371.8M | ||
| Q2 25 | $2.2B | $348.0M | ||
| Q1 25 | $1.1B | $353.6M | ||
| Q4 24 | $1.4B | $485.8M | ||
| Q3 24 | $1.9B | $390.0M | ||
| Q2 24 | $2.0B | $339.1M |
自由现金流FCXUNM
| Q1 26 | — | — | ||
| Q4 25 | $-312.0M | $320.1M | ||
| Q3 25 | $608.0M | $-402.6M | ||
| Q2 25 | $934.0M | $320.1M | ||
| Q1 25 | $-114.0M | $317.8M | ||
| Q4 24 | $197.0M | $453.8M | ||
| Q3 24 | $673.0M | $352.3M | ||
| Q2 24 | $840.0M | $311.4M |
自由现金流率FCXUNM
| Q1 26 | — | — | ||
| Q4 25 | -5.9% | 9.9% | ||
| Q3 25 | 8.9% | -11.9% | ||
| Q2 25 | 12.4% | 9.5% | ||
| Q1 25 | -2.0% | 10.3% | ||
| Q4 24 | 3.4% | 14.0% | ||
| Q3 24 | 10.1% | 11.0% | ||
| Q2 24 | 13.1% | 9.6% |
资本支出强度FCXUNM
| Q1 26 | — | — | ||
| Q4 25 | 19.1% | 1.2% | ||
| Q3 25 | 15.5% | 0.9% | ||
| Q2 25 | 16.8% | 0.8% | ||
| Q1 25 | 21.0% | 1.2% | ||
| Q4 24 | 21.1% | 1.0% | ||
| Q3 24 | 17.9% | 1.2% | ||
| Q2 24 | 17.4% | 0.9% |
现金转化率FCXUNM
| Q1 26 | — | — | ||
| Q4 25 | 1.23× | 2.06× | ||
| Q3 25 | 1.33× | -9.37× | ||
| Q2 25 | 1.42× | 1.04× | ||
| Q1 25 | 1.33× | 1.87× | ||
| Q4 24 | 1.99× | 1.39× | ||
| Q3 24 | 1.51× | 0.60× | ||
| Q2 24 | 1.53× | 0.87× |
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% |
UNM
| Premium Income | $2.8B | 83% |
| Other | $561.2M | 17% |
