vs
美国鹰（AEO）与康宝莱（HLF）财务数据对比。点击上方公司名可切换其他公司
美国鹰的季度营收约是康宝莱的1.1倍（$1.4B vs $1.3B），美国鹰净利率更高（6.7% vs 6.7%，领先0.0%），康宝莱同比增速更快（6.3% vs 5.7%），康宝莱自由现金流更多（$79.8M vs $-2.5M），过去两年美国鹰的营收复合增速更高（2.3% vs 0.7%）
American Eagle Outfitters是美国知名服饰及配饰零售商，总部位于宾夕法尼亚州匹兹堡市南区工业园。品牌1977年由杰里·西尔弗曼与马克·西尔弗曼兄弟创立，最初为零售风险投资公司的子公司，旗下还运营西尔弗曼男装。1980年创始人向肖滕斯坦家族出售一半股权，1991年售罄剩余股份，目前旗下拥有Aerie、Unsubscribed等多个品牌。
康宝莱是美国跨国多层次营销企业，主营膳食补充剂的研发与销售。该公司曾被指控涉嫌金字塔骗局欺诈运营，2016年与美国证监会达成协议后调整了薪酬体系，将经销商奖励与可核实的实际销售额挂钩。此外其部分产品曾被曝出引发急性肝炎的相关问题。
AEO vs HLF — 直观对比
营收规模更大
AEO
是对方的1.1倍
$1.3B
营收增速更快
HLF
高出0.6%
5.7%
净利率更高
AEO
高出0.0%
6.7%
自由现金流更多
HLF
多$82.3M
$-2.5M
两年增速更快
AEO
近两年复合增速
0.7%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.3B |
| 净利润 | $91.3M | $85.4M |
| 毛利率 | 40.5% | 77.5% |
| 营业利润率 | 8.3% | 7.8% |
| 净利率 | 6.7% | 6.7% |
| 营收同比 | 5.7% | 6.3% |
| 净利润同比 | 14.2% | -52.0% |
| 每股收益（稀释后） | $0.53 | $0.81 |
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AEOHLF
| Q4 25 | $1.4B | $1.3B | ||
| Q3 25 | $1.3B | $1.3B | ||
| Q2 25 | $1.1B | $1.3B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | $1.3B | $1.2B | ||
| Q3 24 | $1.3B | $1.2B | ||
| Q2 24 | $1.1B | $1.3B | ||
| Q1 24 | $1.7B | $1.3B |
净利润AEOHLF
| Q4 25 | $91.3M | $85.4M | ||
| Q3 25 | $77.6M | $43.2M | ||
| Q2 25 | $-64.9M | $49.3M | ||
| Q1 25 | — | $50.4M | ||
| Q4 24 | $80.0M | $177.9M | ||
| Q3 24 | $77.3M | $47.4M | ||
| Q2 24 | $67.8M | $4.7M | ||
| Q1 24 | $6.3M | $24.3M |
毛利率AEOHLF
| Q4 25 | 40.5% | 77.5% | ||
| Q3 25 | 38.9% | 77.7% | ||
| Q2 25 | 29.6% | 78.0% | ||
| Q1 25 | — | 78.3% | ||
| Q4 24 | 40.9% | 77.8% | ||
| Q3 24 | 38.6% | 78.3% | ||
| Q2 24 | 40.6% | 77.9% | ||
| Q1 24 | 36.6% | 77.5% |
营业利润率AEOHLF
| Q4 25 | 8.3% | 7.8% | ||
| Q3 25 | 8.0% | 9.9% | ||
| Q2 25 | -7.8% | 10.5% | ||
| Q1 25 | — | 10.1% | ||
| Q4 24 | 8.2% | 8.8% | ||
| Q3 24 | 7.8% | 10.2% | ||
| Q2 24 | 6.8% | 6.3% | ||
| Q1 24 | 0.6% | 5.7% |
净利率AEOHLF
| Q4 25 | 6.7% | 6.7% | ||
| Q3 25 | 6.0% | 3.4% | ||
| Q2 25 | -6.0% | 3.9% | ||
| Q1 25 | — | 4.1% | ||
| Q4 24 | 6.2% | 14.7% | ||
| Q3 24 | 6.0% | 3.8% | ||
| Q2 24 | 5.9% | 0.4% | ||
| Q1 24 | 0.4% | 1.9% |
每股收益（稀释后）AEOHLF
| Q4 25 | $0.53 | $0.81 | ||
| Q3 25 | $0.45 | $0.42 | ||
| Q2 25 | $-0.36 | $0.48 | ||
| Q1 25 | — | $0.49 | ||
| Q4 24 | $0.41 | $1.75 | ||
| Q3 24 | $0.39 | $0.46 | ||
| Q2 24 | $0.34 | $0.05 | ||
| Q1 24 | $0.03 | $0.24 |
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 | $112.8M | $353.1M |
| 总债务越低越好 | — | $2.0B |
| 股东权益账面价值 | $1.6B | $-515.1M |
| 总资产 | $4.2B | $2.8B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资AEOHLF
| Q4 25 | $112.8M | $353.1M | ||
| Q3 25 | $126.8M | $305.5M | ||
| Q2 25 | $87.9M | $320.9M | ||
| Q1 25 | — | $329.4M | ||
| Q4 24 | $160.2M | $415.3M | ||
| Q3 24 | $191.8M | $402.5M | ||
| Q2 24 | $300.5M | $374.0M | ||
| Q1 24 | $454.1M | $398.3M |
总债务AEOHLF
| Q4 25 | — | $2.0B | ||
| Q3 25 | — | $2.0B | ||
| Q2 25 | — | $2.1B | ||
| Q1 25 | — | $2.2B | ||
| Q4 24 | $0 | $2.3B | ||
| Q3 24 | $0 | $2.3B | ||
| Q2 24 | $0 | $2.3B | ||
| Q1 24 | $0 | $2.4B |
股东权益AEOHLF
| Q4 25 | $1.6B | $-515.1M | ||
| Q3 25 | $1.5B | $-612.0M | ||
| Q2 25 | $1.5B | $-660.5M | ||
| Q1 25 | — | $-736.0M | ||
| Q4 24 | $1.7B | $-801.1M | ||
| Q3 24 | $1.7B | $-954.2M | ||
| Q2 24 | $1.8B | $-1.0B | ||
| Q1 24 | $1.7B | $-1.0B |
总资产AEOHLF
| Q4 25 | $4.2B | $2.8B | ||
| Q3 25 | $4.1B | $2.7B | ||
| Q2 25 | $3.8B | $2.7B | ||
| Q1 25 | — | $2.7B | ||
| Q4 24 | $3.7B | $2.7B | ||
| Q3 24 | $3.5B | $2.7B | ||
| Q2 24 | $3.6B | $2.6B | ||
| Q1 24 | $3.6B | $2.6B |
负债/权益比AEOHLF
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.00× | — | ||
| Q3 24 | 0.00× | — | ||
| Q2 24 | 0.00× | — | ||
| Q1 24 | 0.00× | — |
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 | $67.1M | $98.3M |
| 自由现金流经营现金流 - 资本支出 | $-2.5M | $79.8M |
| 自由现金流率自由现金流/营收 | -0.2% | 6.2% |
| 资本支出强度资本支出/营收 | 5.1% | 1.4% |
| 现金转化率经营现金流/净利润 | 0.74× | 1.15× |
| 过去12个月自由现金流最近4个季度 | $-169.8M | $252.9M |
8季度趋势，按日历期对齐
经营现金流AEOHLF
| Q4 25 | $67.1M | $98.3M | ||
| Q3 25 | $27.8M | $138.8M | ||
| Q2 25 | $-54.7M | $96.0M | ||
| Q1 25 | — | $200.0K | ||
| Q4 24 | $52.9M | $69.6M | ||
| Q3 24 | $78.3M | $99.5M | ||
| Q2 24 | $-38.1M | $102.5M | ||
| Q1 24 | $296.4M | $13.8M |
自由现金流AEOHLF
| Q4 25 | $-2.5M | $79.8M | ||
| Q3 25 | $-43.1M | $118.0M | ||
| Q2 25 | $-116.3M | $73.2M | ||
| Q1 25 | — | $-18.1M | ||
| Q4 24 | $-7.8M | $43.9M | ||
| Q3 24 | $17.5M | $72.4M | ||
| Q2 24 | $-74.3M | $66.2M | ||
| Q1 24 | $256.8M | $-19.1M |
自由现金流率AEOHLF
| Q4 25 | -0.2% | 6.2% | ||
| Q3 25 | -3.4% | 9.3% | ||
| Q2 25 | -10.7% | 5.8% | ||
| Q1 25 | — | -1.5% | ||
| Q4 24 | -0.6% | 3.6% | ||
| Q3 24 | 1.4% | 5.8% | ||
| Q2 24 | -6.5% | 5.2% | ||
| Q1 24 | 15.3% | -1.5% |
资本支出强度AEOHLF
| Q4 25 | 5.1% | 1.4% | ||
| Q3 25 | 5.5% | 1.6% | ||
| Q2 25 | 5.7% | 1.8% | ||
| Q1 25 | — | 1.5% | ||
| Q4 24 | 4.7% | 2.1% | ||
| Q3 24 | 4.7% | 2.2% | ||
| Q2 24 | 3.2% | 2.8% | ||
| Q1 24 | 2.4% | 2.6% |
现金转化率AEOHLF
| Q4 25 | 0.74× | 1.15× | ||
| Q3 25 | 0.36× | 3.21× | ||
| Q2 25 | — | 1.95× | ||
| Q1 25 | — | 0.00× | ||
| Q4 24 | 0.66× | 0.39× | ||
| Q3 24 | 1.01× | 2.10× | ||
| Q2 24 | -0.56× | 21.81× | ||
| Q1 24 | 46.93× | 0.57× |
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
AEO
| American Eagle Brand | $800.4M | 59% |
| Aerie Brand | $429.1M | 31% |
| Other | $133.2M | 10% |
HLF
| Others | $514.4M | 40% |
| Other | $300.0M | 23% |
| IN | $250.3M | 20% |
| MX | $147.2M | 11% |
| VN | $71.1M | 6% |
