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纽蒙特（NEM）与Smurfit Westrock（SW）财务数据对比。点击上方公司名可切换其他公司
Smurfit Westrock的季度营收约是纽蒙特的1.0倍（$7.6B vs $7.3B），纽蒙特净利率更高（26.0% vs 1.3%，领先24.8%），Smurfit Westrock同比增速更快（0.5% vs -31.4%），纽蒙特自由现金流更多（$1.2B vs $612.0M），过去两年Smurfit Westrock的营收复合增速更高（60.8% vs 28.8%）
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。
Smurfit Westrock plc是总部位于爱尔兰都柏林的企业，核心业务为生产瓦楞包装及各类纸制包装产品，公司股票同时在纽约证券交易所和伦敦证券交易所挂牌上市。
NEM vs SW — 直观对比
营收规模更大
SW
是对方的1.0倍
$7.3B
营收增速更快
SW
高出32.0%
-31.4%
净利率更高
NEM
高出24.8%
1.3%
自由现金流更多
NEM
多$593.0M
$612.0M
两年增速更快
SW
近两年复合增速
28.8%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $7.3B | $7.6B |
| 净利润 | $1.9B | $97.0M |
| 毛利率 | — | 18.2% |
| 营业利润率 | — | 5.1% |
| 净利率 | 26.0% | 1.3% |
| 营收同比 | -31.4% | 0.5% |
| 净利润同比 | -8.3% | -33.6% |
| 每股收益（稀释后） | $1.68 | $0.18 |
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NEMSW
| Q1 26 | $7.3B | — | ||
| Q4 25 | $6.8B | $7.6B | ||
| Q3 25 | $5.5B | $8.0B | ||
| Q2 25 | $5.3B | $7.9B | ||
| Q1 25 | $5.0B | $7.7B | ||
| Q4 24 | $5.7B | $7.5B | ||
| Q3 24 | $4.6B | $7.7B | ||
| Q2 24 | $4.4B | $3.0B |
净利润NEMSW
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.3B | $97.0M | ||
| Q3 25 | $1.8B | $246.0M | ||
| Q2 25 | $2.1B | $-28.0M | ||
| Q1 25 | $1.9B | $384.0M | ||
| Q4 24 | $1.4B | $146.0M | ||
| Q3 24 | $922.0M | $-150.0M | ||
| Q2 24 | $853.0M | $132.0M |
毛利率NEMSW
| Q1 26 | — | — | ||
| Q4 25 | — | 18.2% | ||
| Q3 25 | — | 19.6% | ||
| Q2 25 | — | 19.1% | ||
| Q1 25 | — | 20.6% | ||
| Q4 24 | — | 19.1% | ||
| Q3 24 | — | 17.6% | ||
| Q2 24 | — | 23.3% |
营业利润率NEMSW
| Q1 26 | — | — | ||
| Q4 25 | 47.6% | 5.1% | ||
| Q3 25 | 45.4% | 6.6% | ||
| Q2 25 | 58.6% | 3.2% | ||
| Q1 25 | 49.3% | 7.2% | ||
| Q4 24 | 36.3% | 5.3% | ||
| Q3 24 | 23.0% | 0.7% | ||
| Q2 24 | 23.5% | 8.2% |
净利率NEMSW
| Q1 26 | 26.0% | — | ||
| Q4 25 | 19.1% | 1.3% | ||
| Q3 25 | 33.2% | 3.1% | ||
| Q2 25 | 38.8% | -0.4% | ||
| Q1 25 | 37.7% | 5.0% | ||
| Q4 24 | 24.8% | 1.9% | ||
| Q3 24 | 20.0% | -2.0% | ||
| Q2 24 | 19.4% | 4.4% |
每股收益（稀释后）NEMSW
| Q1 26 | $1.68 | — | ||
| Q4 25 | $1.19 | $0.18 | ||
| Q3 25 | $1.67 | $0.47 | ||
| Q2 25 | $1.85 | $-0.05 | ||
| Q1 25 | $1.68 | $0.73 | ||
| Q4 24 | $1.23 | $-0.12 | ||
| Q3 24 | $0.80 | $-0.30 | ||
| Q2 24 | $0.74 | $0.51 |
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 | $4.7B | $892.0M |
| 总债务越低越好 | — | $13.4B |
| 股东权益账面价值 | $31.4B | $18.3B |
| 总资产 | $55.5B | $45.2B |
| 负债/权益比越低杠杆越低 | — | 0.73× |
8季度趋势，按日历期对齐
现金及短期投资NEMSW
| Q1 26 | $4.7B | — | ||
| Q4 25 | $8.2B | $892.0M | ||
| Q3 25 | $6.0B | $851.0M | ||
| Q2 25 | $6.7B | $778.0M | ||
| Q1 25 | $4.7B | $797.0M | ||
| Q4 24 | $3.6B | $855.0M | ||
| Q3 24 | $3.1B | — | ||
| Q2 24 | $2.7B | $26.8K |
总债务NEMSW
| Q1 26 | — | — | ||
| Q4 25 | $5.1B | $13.4B | ||
| Q3 25 | $5.2B | $13.3B | ||
| Q2 25 | $7.1B | $13.3B | ||
| Q1 25 | $7.5B | $12.9B | ||
| Q4 24 | $8.5B | $12.5B | ||
| Q3 24 | $8.6B | $13.2B | ||
| Q2 24 | $8.7B | — |
股东权益NEMSW
| Q1 26 | $31.4B | — | ||
| Q4 25 | $33.9B | $18.3B | ||
| Q3 25 | $33.2B | $18.4B | ||
| Q2 25 | $32.1B | $18.3B | ||
| Q1 25 | $31.2B | $17.9B | ||
| Q4 24 | $29.9B | $17.4B | ||
| Q3 24 | $29.7B | $18.0B | ||
| Q2 24 | $29.4B | $14.5K |
总资产NEMSW
| Q1 26 | $55.5B | — | ||
| Q4 25 | $57.1B | $45.2B | ||
| Q3 25 | $54.7B | $45.6B | ||
| Q2 25 | $55.2B | $45.7B | ||
| Q1 25 | $55.5B | $44.6B | ||
| Q4 24 | $56.3B | $43.8B | ||
| Q3 24 | $56.2B | $45.0B | ||
| Q2 24 | $55.7B | $26.8K |
负债/权益比NEMSW
| Q1 26 | — | — | ||
| Q4 25 | 0.15× | 0.73× | ||
| Q3 25 | 0.16× | 0.72× | ||
| Q2 25 | 0.22× | 0.73× | ||
| Q1 25 | 0.24× | 0.72× | ||
| Q4 24 | 0.28× | 0.72× | ||
| Q3 24 | 0.29× | 0.73× | ||
| Q2 24 | 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 | — | $1.2B |
| 自由现金流经营现金流 - 资本支出 | $1.2B | $612.0M |
| 自由现金流率自由现金流/营收 | 16.5% | 8.1% |
| 资本支出强度资本支出/营收 | 11.3% | 7.7% |
| 现金转化率经营现金流/净利润 | — | 12.32× |
| 过去12个月自由现金流最近4个季度 | $7.3B | $1.2B |
8季度趋势，按日历期对齐
经营现金流NEMSW
| Q1 26 | — | — | ||
| Q4 25 | $3.6B | $1.2B | ||
| Q3 25 | $2.3B | $1.1B | ||
| Q2 25 | $2.4B | $829.0M | ||
| Q1 25 | $2.0B | $235.0M | ||
| Q4 24 | $2.5B | $781.0M | ||
| Q3 24 | $1.6B | $320.0M | ||
| Q2 24 | $1.4B | $340.0M |
自由现金流NEMSW
| Q1 26 | $1.2B | — | ||
| Q4 25 | $2.8B | $612.0M | ||
| Q3 25 | $1.6B | $523.0M | ||
| Q2 25 | $1.7B | $307.0M | ||
| Q1 25 | $1.2B | $-242.0M | ||
| Q4 24 | $1.6B | $212.0M | ||
| Q3 24 | $771.0M | $-192.0M | ||
| Q2 24 | $628.0M | $163.0M |
自由现金流率NEMSW
| Q1 26 | 16.5% | — | ||
| Q4 25 | 41.3% | 8.1% | ||
| Q3 25 | 28.4% | 6.5% | ||
| Q2 25 | 32.2% | 3.9% | ||
| Q1 25 | 24.1% | -3.2% | ||
| Q4 24 | 28.9% | 2.8% | ||
| Q3 24 | 16.7% | -2.5% | ||
| Q2 24 | 14.3% | 5.5% |
资本支出强度NEMSW
| Q1 26 | 11.3% | — | ||
| Q4 25 | 11.9% | 7.7% | ||
| Q3 25 | 13.2% | 7.6% | ||
| Q2 25 | 12.7% | 6.6% | ||
| Q1 25 | 16.5% | 6.2% | ||
| Q4 24 | 15.5% | 7.5% | ||
| Q3 24 | 19.0% | 6.7% | ||
| Q2 24 | 18.2% | 6.0% |
现金转化率NEMSW
| Q1 26 | — | — | ||
| Q4 25 | 2.78× | 12.32× | ||
| Q3 25 | 1.25× | 4.61× | ||
| Q2 25 | 1.16× | — | ||
| Q1 25 | 1.07× | 0.61× | ||
| Q4 24 | 1.79× | 5.35× | ||
| Q3 24 | 1.79× | — | ||
| Q2 24 | 1.67× | 2.58× |
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
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% |
SW
| Packaging | $3.3B | 43% |
| Other | $3.2B | 43% |
| Paper | $1.1B | 14% |
