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雅保（ALB）与FULLER H B CO（FUL）财务数据对比。点击上方公司名可切换其他公司
雅保的季度营收约是FULLER H B CO的1.6倍（$1.4B vs $892.0M）。FULLER H B CO净利率更高（7.5% vs -29.0%，领先36.5%）。雅保同比增速更快（15.9% vs -2.8%）。雅保自由现金流更多（$233.1M vs $68.9M）。过去两年FULLER H B CO的营收复合增速更高（5.0% vs 2.4%）
雅保是全球知名的特种化学品企业，业务覆盖研发、生产与全球销售，下设锂、溴、催化剂三大板块。锂业务线供应碳酸锂、氢氧化锂、氯化锂等锂化合物及相关试剂，产品广泛应用于消费电子、电动汽车锂电池、高性能润滑脂、热塑性弹性体等领域。
H.B.富勒公司是总部位于美国明尼苏达州圣保罗的跨国粘合剂制造企业，全球第四大粘合剂及密封剂生产商。公司拥有超过20000种产品，广泛应用于建筑、工程、电子、卫生用品、食品包装等领域，在26个国家设有81座生产基地，2024年员工规模约7500人。
ALB vs FUL — 直观对比
营收规模更大
ALB
是对方的1.6倍
$892.0M
营收增速更快
ALB
高出18.8%
-2.8%
净利率更高
FUL
高出36.5%
-29.0%
自由现金流更多
ALB
多$164.2M
$68.9M
两年增速更快
FUL
近两年复合增速
2.4%
损益表 — Q4 2025 vs Q3 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $892.0M |
| 净利润 | $-414.2M | $67.2M |
| 毛利率 | 13.9% | 32.0% |
| 营业利润率 | -15.2% | 12.3% |
| 净利率 | -29.0% | 7.5% |
| 营收同比 | 15.9% | -2.8% |
| 净利润同比 | -650.1% | 21.3% |
| 每股收益（稀释后） | $-3.88 | $1.22 |
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ALBFUL
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.3B | $892.0M | ||
| Q2 25 | $1.3B | $898.1M | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.4B | $917.9M | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.4B | $810.4M |
净利润ALBFUL
| Q4 25 | $-414.2M | — | ||
| Q3 25 | $-160.7M | $67.2M | ||
| Q2 25 | $22.9M | $41.8M | ||
| Q1 25 | $41.3M | — | ||
| Q4 24 | $75.3M | — | ||
| Q3 24 | $-1.1B | $55.4M | ||
| Q2 24 | $-188.2M | — | ||
| Q1 24 | $2.4M | $31.0M |
毛利率ALBFUL
| Q4 25 | 13.9% | — | ||
| Q3 25 | 9.0% | 32.0% | ||
| Q2 25 | 14.8% | 31.9% | ||
| Q1 25 | 14.5% | — | ||
| Q4 24 | 11.2% | — | ||
| Q3 24 | -7.7% | 30.0% | ||
| Q2 24 | -0.7% | — | ||
| Q1 24 | 2.9% | 29.5% |
营业利润率ALBFUL
| Q4 25 | -15.2% | — | ||
| Q3 25 | -16.6% | 12.3% | ||
| Q2 25 | 3.6% | 11.1% | ||
| Q1 25 | 1.8% | — | ||
| Q4 24 | 0.4% | — | ||
| Q3 24 | -81.9% | 11.4% | ||
| Q2 24 | -34.4% | — | ||
| Q1 24 | -13.2% | 8.3% |
净利率ALBFUL
| Q4 25 | -29.0% | — | ||
| Q3 25 | -12.3% | 7.5% | ||
| Q2 25 | 1.7% | 4.7% | ||
| Q1 25 | 3.8% | — | ||
| Q4 24 | 6.1% | — | ||
| Q3 24 | -78.9% | 6.0% | ||
| Q2 24 | -13.2% | — | ||
| Q1 24 | 0.2% | 3.8% |
每股收益（稀释后）ALBFUL
| Q4 25 | $-3.88 | — | ||
| Q3 25 | $-1.72 | $1.22 | ||
| Q2 25 | $-0.16 | $0.76 | ||
| Q1 25 | $0.00 | — | ||
| Q4 24 | $0.29 | — | ||
| Q3 24 | $-9.45 | $0.98 | ||
| Q2 24 | $-1.96 | — | ||
| Q1 24 | $-0.08 | $0.55 |
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 | — | $122.5M |
| 总债务越低越好 | $3.2B | — |
| 股东权益账面价值 | $9.5B | $2.0B |
| 总资产 | $16.4B | $5.2B |
| 负债/权益比越低杠杆越低 | 0.33× | — |
8季度趋势，按日历期对齐
现金及短期投资ALBFUL
| Q4 25 | — | — | ||
| Q3 25 | $1.9B | $122.5M | ||
| Q2 25 | $1.8B | $96.8M | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.7B | $131.4M | ||
| Q2 24 | $1.8B | — | ||
| Q1 24 | $2.1B | $165.2M |
总债务ALBFUL
| Q4 25 | $3.2B | — | ||
| Q3 25 | $3.6B | — | ||
| Q2 25 | $3.6B | — | ||
| Q1 25 | $3.5B | — | ||
| Q4 24 | $3.5B | — | ||
| Q3 24 | $3.6B | — | ||
| Q2 24 | $3.5B | — | ||
| Q1 24 | $3.5B | — |
股东权益ALBFUL
| Q4 25 | $9.5B | — | ||
| Q3 25 | $10.0B | $2.0B | ||
| Q2 25 | $10.2B | $1.9B | ||
| Q1 25 | $10.0B | — | ||
| Q4 24 | $10.0B | — | ||
| Q3 24 | $10.2B | $1.8B | ||
| Q2 24 | $11.2B | — | ||
| Q1 24 | $11.5B | $1.8B |
总资产ALBFUL
| Q4 25 | $16.4B | — | ||
| Q3 25 | $17.1B | $5.2B | ||
| Q2 25 | $17.3B | $5.1B | ||
| Q1 25 | $17.0B | — | ||
| Q4 24 | $16.6B | — | ||
| Q3 24 | $17.5B | $5.0B | ||
| Q2 24 | $18.4B | — | ||
| Q1 24 | $19.0B | $4.7B |
负债/权益比ALBFUL
| Q4 25 | 0.33× | — | ||
| Q3 25 | 0.36× | — | ||
| Q2 25 | 0.35× | — | ||
| Q1 25 | 0.35× | — | ||
| Q4 24 | 0.35× | — | ||
| Q3 24 | 0.35× | — | ||
| Q2 24 | 0.31× | — | ||
| Q1 24 | 0.31× | — |
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 | $388.5M | $99.0M |
| 自由现金流经营现金流 - 资本支出 | $233.1M | $68.9M |
| 自由现金流率自由现金流/营收 | 16.3% | 7.7% |
| 资本支出强度资本支出/营收 | 10.9% | 3.4% |
| 现金转化率经营现金流/净利润 | — | 1.47× |
| 过去12个月自由现金流最近4个季度 | $692.5M | — |
8季度趋势，按日历期对齐
经营现金流ALBFUL
| Q4 25 | $388.5M | — | ||
| Q3 25 | $355.6M | $99.0M | ||
| Q2 25 | $-7.2M | — | ||
| Q1 25 | $545.4M | — | ||
| Q4 24 | $674.0K | — | ||
| Q3 24 | $240.5M | $169.4M | ||
| Q2 24 | $362.9M | — | ||
| Q1 24 | $98.0M | $47.4M |
自由现金流ALBFUL
| Q4 25 | $233.1M | — | ||
| Q3 25 | $223.4M | $68.9M | ||
| Q2 25 | $-126.8M | — | ||
| Q1 25 | $362.8M | — | ||
| Q4 24 | $-355.1M | — | ||
| Q3 24 | $-62.6M | $99.9M | ||
| Q2 24 | $-84.7M | — | ||
| Q1 24 | $-481.4M | $4.1M |
自由现金流率ALBFUL
| Q4 25 | 16.3% | — | ||
| Q3 25 | 17.1% | 7.7% | ||
| Q2 25 | -9.5% | — | ||
| Q1 25 | 33.7% | — | ||
| Q4 24 | -28.8% | — | ||
| Q3 24 | -4.6% | 10.9% | ||
| Q2 24 | -5.9% | — | ||
| Q1 24 | -35.4% | 0.5% |
资本支出强度ALBFUL
| Q4 25 | 10.9% | — | ||
| Q3 25 | 10.1% | 3.4% | ||
| Q2 25 | 9.0% | — | ||
| Q1 25 | 17.0% | — | ||
| Q4 24 | 28.9% | — | ||
| Q3 24 | 22.4% | 7.6% | ||
| Q2 24 | 31.3% | — | ||
| Q1 24 | 42.6% | 5.3% |
现金转化率ALBFUL
| Q4 25 | — | — | ||
| Q3 25 | — | 1.47× | ||
| Q2 25 | -0.31× | — | ||
| Q1 25 | 13.19× | — | ||
| Q4 24 | 0.01× | — | ||
| Q3 24 | — | 3.06× | ||
| Q2 24 | — | — | ||
| Q1 24 | 40.01× | 1.53× |
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
ALB
| Energy Storage | $759.1M | 53% |
| Specialties | $348.9M | 24% |
| Ketjen | $320.1M | 22% |
FUL
| Hygiene Health And Consumable Adhesives | $386.1M | 43% |
| Engineering Adhesives | $272.3M | 31% |
| Building Adhesives Solutions | $233.7M | 26% |
