vs
雅保（ALB）与希悦尔（SEE）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希悦尔的1.0倍（$1.4B vs $1.4B）。希悦尔净利率更高（3.1% vs -29.0%，领先32.1%）。雅保同比增速更快（15.9% vs 2.6%）。希悦尔自由现金流更多（$257.7M vs $233.1M）。过去两年希悦尔的营收复合增速更高（2.7% 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。
希悦尔是全球领先的包装与防护解决方案供应商，核心产品包括缓冲防护材料、食品保鲜包装、可持续减废包装系统，服务覆盖电商、零售、食品饮料、工业制造等多个海内外领域。
ALB vs SEE — 直观对比
营收规模更大
ALB
是对方的1.0倍
$1.4B
营收增速更快
ALB
高出13.3%
2.6%
净利率更高
SEE
高出32.1%
-29.0%
自由现金流更多
SEE
多$24.6M
$233.1M
两年增速更快
SEE
近两年复合增速
2.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.4B |
| 净利润 | $-414.2M | $43.8M |
| 毛利率 | 13.9% | 28.6% |
| 营业利润率 | -15.2% | 11.4% |
| 净利率 | -29.0% | 3.1% |
| 营收同比 | 15.9% | 2.6% |
| 净利润同比 | -650.1% | 700.0% |
| 每股收益（稀释后） | $-3.88 | $0.30 |
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ALBSEE
| Q4 25 | $1.4B | $1.4B | ||
| Q3 25 | $1.3B | $1.3B | ||
| Q2 25 | $1.3B | $1.3B | ||
| Q1 25 | $1.1B | $1.3B | ||
| Q4 24 | $1.2B | $1.4B | ||
| Q3 24 | $1.4B | $1.3B | ||
| Q2 24 | $1.4B | $1.3B | ||
| Q1 24 | $1.4B | $1.3B |
净利润ALBSEE
| Q4 25 | $-414.2M | $43.8M | ||
| Q3 25 | $-160.7M | $255.1M | ||
| Q2 25 | $22.9M | $93.1M | ||
| Q1 25 | $41.3M | $113.5M | ||
| Q4 24 | $75.3M | $-7.3M | ||
| Q3 24 | $-1.1B | $91.7M | ||
| Q2 24 | $-188.2M | $98.3M | ||
| Q1 24 | $2.4M | $82.0M |
毛利率ALBSEE
| Q4 25 | 13.9% | 28.6% | ||
| Q3 25 | 9.0% | 29.8% | ||
| Q2 25 | 14.8% | 30.7% | ||
| Q1 25 | 14.5% | 30.9% | ||
| Q4 24 | 11.2% | 30.0% | ||
| Q3 24 | -7.7% | 30.1% | ||
| Q2 24 | -0.7% | 31.2% | ||
| Q1 24 | 2.9% | 30.3% |
营业利润率ALBSEE
| Q4 25 | -15.2% | 11.4% | ||
| Q3 25 | -16.6% | 13.8% | ||
| Q2 25 | 3.6% | 15.0% | ||
| Q1 25 | 1.8% | 14.5% | ||
| Q4 24 | 0.4% | 11.7% | ||
| Q3 24 | -81.9% | 13.9% | ||
| Q2 24 | -34.4% | 15.4% | ||
| Q1 24 | -13.2% | 14.0% |
净利率ALBSEE
| Q4 25 | -29.0% | 3.1% | ||
| Q3 25 | -12.3% | 19.0% | ||
| Q2 25 | 1.7% | 7.0% | ||
| Q1 25 | 3.8% | 9.0% | ||
| Q4 24 | 6.1% | -0.5% | ||
| Q3 24 | -78.9% | 6.9% | ||
| Q2 24 | -13.2% | 7.4% | ||
| Q1 24 | 0.2% | 6.2% |
每股收益（稀释后）ALBSEE
| Q4 25 | $-3.88 | $0.30 | ||
| Q3 25 | $-1.72 | $1.73 | ||
| Q2 25 | $-0.16 | $0.63 | ||
| Q1 25 | $0.00 | $0.77 | ||
| Q4 24 | $0.29 | $-0.05 | ||
| Q3 24 | $-9.45 | $0.63 | ||
| Q2 24 | $-1.96 | $0.67 | ||
| Q1 24 | $-0.08 | $0.56 |
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 | — | $344.0M |
| 总债务越低越好 | $3.2B | $3.3B |
| 股东权益账面价值 | $9.5B | $1.2B |
| 总资产 | $16.4B | $7.0B |
| 负债/权益比越低杠杆越低 | 0.33× | 2.65× |
8季度趋势，按日历期对齐
现金及短期投资ALBSEE
| Q4 25 | — | $344.0M | ||
| Q3 25 | $1.9B | $282.5M | ||
| Q2 25 | $1.8B | $354.4M | ||
| Q1 25 | $1.5B | $335.2M | ||
| Q4 24 | $1.2B | $371.8M | ||
| Q3 24 | $1.7B | $386.0M | ||
| Q2 24 | $1.8B | $388.6M | ||
| Q1 24 | $2.1B | $352.8M |
总债务ALBSEE
| Q4 25 | $3.2B | $3.3B | ||
| Q3 25 | $3.6B | $4.0B | ||
| Q2 25 | $3.6B | $4.0B | ||
| Q1 25 | $3.5B | $4.2B | ||
| Q4 24 | $3.5B | $4.2B | ||
| Q3 24 | $3.6B | $4.3B | ||
| Q2 24 | $3.5B | $4.4B | ||
| Q1 24 | $3.5B | $4.5B |
股东权益ALBSEE
| Q4 25 | $9.5B | $1.2B | ||
| Q3 25 | $10.0B | $1.2B | ||
| Q2 25 | $10.2B | $953.1M | ||
| Q1 25 | $10.0B | $797.9M | ||
| Q4 24 | $10.0B | $624.5M | ||
| Q3 24 | $10.2B | $771.2M | ||
| Q2 24 | $11.2B | $650.1M | ||
| Q1 24 | $11.5B | $598.3M |
总资产ALBSEE
| Q4 25 | $16.4B | $7.0B | ||
| Q3 25 | $17.1B | $7.1B | ||
| Q2 25 | $17.3B | $7.2B | ||
| Q1 25 | $17.0B | $7.0B | ||
| Q4 24 | $16.6B | $7.0B | ||
| Q3 24 | $17.5B | $7.3B | ||
| Q2 24 | $18.4B | $7.3B | ||
| Q1 24 | $19.0B | $7.2B |
负债/权益比ALBSEE
| Q4 25 | 0.33× | 2.65× | ||
| Q3 25 | 0.36× | 3.34× | ||
| Q2 25 | 0.35× | 4.18× | ||
| Q1 25 | 0.35× | 5.26× | ||
| Q4 24 | 0.35× | 6.72× | ||
| Q3 24 | 0.35× | 5.62× | ||
| Q2 24 | 0.31× | 6.81× | ||
| Q1 24 | 0.31× | 7.49× |
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 | $293.6M |
| 自由现金流经营现金流 - 资本支出 | $233.1M | $257.7M |
| 自由现金流率自由现金流/营收 | 16.3% | 18.5% |
| 资本支出强度资本支出/营收 | 10.9% | 2.6% |
| 现金转化率经营现金流/净利润 | — | 6.70× |
| 过去12个月自由现金流最近4个季度 | $692.5M | $458.5M |
8季度趋势，按日历期对齐
经营现金流ALBSEE
| Q4 25 | $388.5M | $293.6M | ||
| Q3 25 | $355.6M | $165.9M | ||
| Q2 25 | $-7.2M | $136.6M | ||
| Q1 25 | $545.4M | $31.9M | ||
| Q4 24 | $674.0K | $244.2M | ||
| Q3 24 | $240.5M | $170.5M | ||
| Q2 24 | $362.9M | $188.2M | ||
| Q1 24 | $98.0M | $125.1M |
自由现金流ALBSEE
| Q4 25 | $233.1M | $257.7M | ||
| Q3 25 | $223.4M | $119.6M | ||
| Q2 25 | $-126.8M | $93.2M | ||
| Q1 25 | $362.8M | $-12.0M | ||
| Q4 24 | $-355.1M | $185.1M | ||
| Q3 24 | $-62.6M | $115.2M | ||
| Q2 24 | $-84.7M | $129.5M | ||
| Q1 24 | $-481.4M | $78.0M |
自由现金流率ALBSEE
| Q4 25 | 16.3% | 18.5% | ||
| Q3 25 | 17.1% | 8.9% | ||
| Q2 25 | -9.5% | 7.0% | ||
| Q1 25 | 33.7% | -0.9% | ||
| Q4 24 | -28.8% | 13.6% | ||
| Q3 24 | -4.6% | 8.6% | ||
| Q2 24 | -5.9% | 9.7% | ||
| Q1 24 | -35.4% | 5.9% |
资本支出强度ALBSEE
| Q4 25 | 10.9% | 2.6% | ||
| Q3 25 | 10.1% | 3.4% | ||
| Q2 25 | 9.0% | 3.3% | ||
| Q1 25 | 17.0% | 3.5% | ||
| Q4 24 | 28.9% | 4.4% | ||
| Q3 24 | 22.4% | 4.1% | ||
| Q2 24 | 31.3% | 4.4% | ||
| Q1 24 | 42.6% | 3.6% |
现金转化率ALBSEE
| Q4 25 | — | 6.70× | ||
| Q3 25 | — | 0.65× | ||
| Q2 25 | -0.31× | 1.47× | ||
| Q1 25 | 13.19× | 0.28× | ||
| Q4 24 | 0.01× | — | ||
| Q3 24 | — | 1.86× | ||
| Q2 24 | — | 1.91× | ||
| 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% |
SEE
| Protective Segment | $1.1B | 78% |
| Other | $292.0M | 21% |
| Pension Plans Defined Benefit | $7.9M | 1% |
