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FMC CORP（FMC）与VinFast Auto Ltd.（VFS）财务数据对比。点击上方公司名可切换其他公司
FMC CORP的季度营收约是VinFast Auto Ltd.的1.1倍（$759.0M vs $718.6M），VinFast Auto Ltd.净利率更高（-2.8% vs -37.0%，领先34.3%）
FMC公司是总部位于美国宾夕法尼亚州费城的化工制造企业，1883年创立之初以生产杀虫剂为主，后续逐步拓展业务至其他领域。二战期间曾为美国陆军部设计生产两栖履带登陆车，目前在全球拥有7000名员工，业务布局广泛。
VinFast Auto Ltd.是越南跨国汽车企业，由越南最大私营综合企业集团之一Vingroup创立。Vingroup由越南知名企业家潘日旺创办，业务覆盖地产、零售、医疗、科技等多个领域，是越南本土头部企业集团。
FMC vs VFS — 直观对比
营收规模更大
FMC
是对方的1.1倍
$718.6M
净利率更高
VFS
高出34.3%
-37.0%
损益表 — Q1 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $759.0M | $718.6M |
| 净利润 | $-281.2M | $-20.0M |
| 毛利率 | — | — |
| 营业利润率 | -10.6% | -96.1% |
| 净利率 | -37.0% | -2.8% |
| 营收同比 | -4.0% | — |
| 净利润同比 | — | — |
| 每股收益（稀释后） | $-2.25 | — |
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FMCVFS
| Q1 26 | $759.0M | — | ||
| Q4 25 | $1.1B | — | ||
| Q3 25 | $542.2M | $718.6M | ||
| Q2 25 | $1.1B | $663.0M | ||
| Q1 25 | $791.4M | $656.5M | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.1B | $511.6M | ||
| Q2 24 | $1.0B | — |
净利润FMCVFS
| Q1 26 | $-281.2M | — | ||
| Q4 25 | $-1.7B | — | ||
| Q3 25 | $-569.3M | $-20.0M | ||
| Q2 25 | $66.7M | $-51.8M | ||
| Q1 25 | $-15.5M | $-26.1M | ||
| Q4 24 | $-16.3M | — | ||
| Q3 24 | $65.0M | $-10.4M | ||
| Q2 24 | $295.1M | — |
毛利率FMCVFS
| Q1 26 | — | — | ||
| Q4 25 | 39.8% | — | ||
| Q3 25 | 23.8% | — | ||
| Q2 25 | 38.7% | — | ||
| Q1 25 | 40.0% | — | ||
| Q4 24 | 42.9% | — | ||
| Q3 24 | 36.3% | — | ||
| Q2 24 | 38.3% | — |
营业利润率FMCVFS
| Q1 26 | -10.6% | — | ||
| Q4 25 | -130.8% | — | ||
| Q3 25 | -73.1% | -96.1% | ||
| Q2 25 | 12.0% | -79.0% | ||
| Q1 25 | 7.4% | -74.0% | ||
| Q4 24 | 19.2% | — | ||
| Q3 24 | 12.7% | -65.9% | ||
| Q2 24 | 6.0% | — |
净利率FMCVFS
| Q1 26 | -37.0% | — | ||
| Q4 25 | -158.8% | — | ||
| Q3 25 | -105.0% | -2.8% | ||
| Q2 25 | 6.3% | -7.8% | ||
| Q1 25 | -2.0% | -4.0% | ||
| Q4 24 | -1.3% | — | ||
| Q3 24 | 6.1% | -2.0% | ||
| Q2 24 | 28.4% | — |
每股收益（稀释后）FMCVFS
| Q1 26 | $-2.25 | — | ||
| Q4 25 | $-13.77 | — | ||
| Q3 25 | $-4.52 | — | ||
| Q2 25 | $0.53 | — | ||
| Q1 25 | $-0.12 | — | ||
| Q4 24 | $-0.13 | — | ||
| Q3 24 | $0.52 | — | ||
| Q2 24 | $2.35 | — |
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 | $390.9M | $8.8M |
| 总债务越低越好 | $2.8B | — |
| 股东权益账面价值 | $1.8B | — |
| 总资产 | $9.4B | $183.2M |
| 负债/权益比越低杠杆越低 | 1.50× | — |
8季度趋势，按日历期对齐
现金及短期投资FMCVFS
| Q1 26 | $390.9M | — | ||
| Q4 25 | $584.5M | — | ||
| Q3 25 | $497.7M | $8.8M | ||
| Q2 25 | $438.2M | $650.0M | ||
| Q1 25 | $315.3M | $2.4M | ||
| Q4 24 | $357.3M | — | ||
| Q3 24 | $416.7M | $1.9M | ||
| Q2 24 | $471.5M | — |
总债务FMCVFS
| Q1 26 | $2.8B | — | ||
| Q4 25 | $3.4B | — | ||
| Q3 25 | $3.4B | — | ||
| Q2 25 | $3.4B | — | ||
| Q1 25 | $3.1B | — | ||
| Q4 24 | $3.1B | — | ||
| Q3 24 | $3.1B | — | ||
| Q2 24 | $3.1B | — |
股东权益FMCVFS
| Q1 26 | $1.8B | — | ||
| Q4 25 | $2.1B | — | ||
| Q3 25 | $3.8B | — | ||
| Q2 25 | $4.4B | $-7.2B | ||
| Q1 25 | $4.4B | — | ||
| Q4 24 | $4.5B | — | ||
| Q3 24 | $4.6B | — | ||
| Q2 24 | $4.6B | — |
总资产FMCVFS
| Q1 26 | $9.4B | — | ||
| Q4 25 | $9.7B | — | ||
| Q3 25 | $12.1B | $183.2M | ||
| Q2 25 | $12.3B | $7.2B | ||
| Q1 25 | $11.8B | $158.2M | ||
| Q4 24 | $11.7B | — | ||
| Q3 24 | $12.2B | $151.8M | ||
| Q2 24 | $12.1B | — |
负债/权益比FMCVFS
| Q1 26 | 1.50× | — | ||
| Q4 25 | 1.62× | — | ||
| Q3 25 | 0.89× | — | ||
| Q2 25 | 0.76× | — | ||
| Q1 25 | 0.71× | — | ||
| Q4 24 | 0.69× | — | ||
| Q3 24 | 0.68× | — | ||
| Q2 24 | 0.68× | — |
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 | $-628.1M | — |
| 自由现金流率自由现金流/营收 | -82.8% | — |
| 资本支出强度资本支出/营收 | 2.2% | — |
| 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 | $-154.0M | — |
8季度趋势，按日历期对齐
经营现金流FMCVFS
| Q1 26 | — | — | ||
| Q4 25 | $657.1M | — | ||
| Q3 25 | $-184.2M | — | ||
| Q2 25 | $65.9M | — | ||
| Q1 25 | $-545.0M | — | ||
| Q4 24 | $427.9M | — | ||
| Q3 24 | $159.5M | — | ||
| Q2 24 | $292.2M | — |
自由现金流FMCVFS
| Q1 26 | $-628.1M | — | ||
| Q4 25 | $631.1M | — | ||
| Q3 25 | $-207.9M | — | ||
| Q2 25 | $50.9M | — | ||
| Q1 25 | $-576.6M | — | ||
| Q4 24 | $406.3M | — | ||
| Q3 24 | $143.8M | — | ||
| Q2 24 | $282.3M | — |
自由现金流率FMCVFS
| Q1 26 | -82.8% | — | ||
| Q4 25 | 58.3% | — | ||
| Q3 25 | -38.3% | — | ||
| Q2 25 | 4.8% | — | ||
| Q1 25 | -72.9% | — | ||
| Q4 24 | 33.2% | — | ||
| Q3 24 | 13.5% | — | ||
| Q2 24 | 27.2% | — |
资本支出强度FMCVFS
| Q1 26 | 2.2% | — | ||
| Q4 25 | 2.4% | — | ||
| Q3 25 | 4.4% | — | ||
| Q2 25 | 1.4% | — | ||
| Q1 25 | 4.0% | — | ||
| Q4 24 | 1.8% | — | ||
| Q3 24 | 1.5% | — | ||
| Q2 24 | 1.0% | — |
现金转化率FMCVFS
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.99× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.45× | — | ||
| Q2 24 | 0.99× | — |
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
FMC
| EMEA | $307.0M | 40% |
| North America | $198.0M | 26% |
| Latin America | $177.0M | 23% |
| Asia (excluding 2026 India) 1 | $81.0M | 11% |
VFS
| Sales of vehicles | $662.9M | 92% |
| Sales of spare parts and components | $41.3M | 6% |
| Revenue from leasing activities | $12.3M | 2% |
| Finance income | $2.4M | 0% |
| Rendering of services | $1.2M | 0% |
