vs
豪瑞（AMRZ）与托尔工业（THO）财务数据对比。点击上方公司名可切换其他公司
豪瑞的季度营收约是托尔工业的1.5倍（$3.7B vs $2.4B），豪瑞净利率更高（14.8% vs 0.9%，领先13.9%），托尔工业同比增速更快（11.5% vs 6.6%），豪瑞自由现金流更多（$669.0M vs $-74.8M）
豪瑞是总部位于瑞士的全球领先建筑材料及骨料供应商，为豪瑞集团旗下核心业务板块。原公司于2015年7月10日与拉法基合并组建拉法基豪瑞，2021年正式更名为豪瑞集团，合并完成后豪瑞品牌仍在集团内正常运营。
托尔工业是美国知名休闲房车（RV）生产商，旗下拥有Airstream、Heartland RV、Jayco等多个子品牌，主营拖挂式及自行式休闲房车的生产销售，总部位于印第安纳州埃尔克哈特，在密歇根、俄亥俄、爱达荷、俄勒冈等多个州设有生产基地。
AMRZ vs THO — 直观对比
营收规模更大
AMRZ
是对方的1.5倍
$2.4B
营收增速更快
THO
高出4.9%
6.6%
净利率更高
AMRZ
高出13.9%
0.9%
自由现金流更多
AMRZ
多$743.8M
$-74.8M
损益表 — Q3 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.7B | $2.4B |
| 净利润 | $545.0M | $21.7M |
| 毛利率 | 29.6% | 13.4% |
| 营业利润率 | 21.2% | 1.4% |
| 净利率 | 14.8% | 0.9% |
| 营收同比 | 6.6% | 11.5% |
| 净利润同比 | -1.4% | 1282.8% |
| 每股收益（稀释后） | $0.98 | $0.41 |
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AMRZTHO
| Q4 25 | — | $2.4B | ||
| Q3 25 | $3.7B | $2.5B | ||
| Q2 25 | $3.2B | $2.9B | ||
| Q1 25 | — | $2.0B | ||
| Q4 24 | — | $2.1B | ||
| Q3 24 | $3.4B | $2.5B | ||
| Q2 24 | $3.2B | $2.8B | ||
| Q1 24 | — | $2.2B |
净利润AMRZTHO
| Q4 25 | — | $21.7M | ||
| Q3 25 | $545.0M | $125.8M | ||
| Q2 25 | $429.0M | $135.2M | ||
| Q1 25 | — | $-551.0K | ||
| Q4 24 | — | $-1.8M | ||
| Q3 24 | $553.0M | $90.0M | ||
| Q2 24 | $474.0M | $114.5M | ||
| Q1 24 | — | $7.2M |
毛利率AMRZTHO
| Q4 25 | — | 13.4% | ||
| Q3 25 | 29.6% | 14.7% | ||
| Q2 25 | 30.0% | 15.3% | ||
| Q1 25 | — | 12.1% | ||
| Q4 24 | — | 13.1% | ||
| Q3 24 | 30.2% | 15.8% | ||
| Q2 24 | 30.2% | 15.1% | ||
| Q1 24 | — | 12.3% |
营业利润率AMRZTHO
| Q4 25 | — | 1.4% | ||
| Q3 25 | 21.2% | 5.7% | ||
| Q2 25 | 20.8% | 5.4% | ||
| Q1 25 | — | -0.1% | ||
| Q4 24 | — | -0.1% | ||
| Q3 24 | 24.5% | 5.0% | ||
| Q2 24 | 23.3% | 5.1% | ||
| Q1 24 | — | 0.3% |
净利率AMRZTHO
| Q4 25 | — | 0.9% | ||
| Q3 25 | 14.8% | 5.0% | ||
| Q2 25 | 13.3% | 4.7% | ||
| Q1 25 | — | -0.0% | ||
| Q4 24 | — | -0.1% | ||
| Q3 24 | 16.0% | 3.6% | ||
| Q2 24 | 14.6% | 4.1% | ||
| Q1 24 | — | 0.3% |
每股收益（稀释后）AMRZTHO
| Q4 25 | — | $0.41 | ||
| Q3 25 | $0.98 | $2.35 | ||
| Q2 25 | $0.78 | $2.53 | ||
| Q1 25 | — | $-0.01 | ||
| Q4 24 | — | $-0.03 | ||
| Q3 24 | $1.00 | $1.69 | ||
| Q2 24 | $0.86 | $2.13 | ||
| Q1 24 | — | $0.13 |
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 | $826.0M | $509.9M |
| 总债务越低越好 | — | $916.0M |
| 股东权益账面价值 | $12.9B | $4.3B |
| 总资产 | $24.0B | $7.0B |
| 负债/权益比越低杠杆越低 | — | 0.21× |
8季度趋势，按日历期对齐
现金及短期投资AMRZTHO
| Q4 25 | — | $509.9M | ||
| Q3 25 | $826.0M | $586.6M | ||
| Q2 25 | $601.0M | $508.3M | ||
| Q1 25 | — | $373.8M | ||
| Q4 24 | — | $445.2M | ||
| Q3 24 | — | $501.3M | ||
| Q2 24 | — | $371.8M | ||
| Q1 24 | — | $340.2M |
总债务AMRZTHO
| Q4 25 | — | $916.0M | ||
| Q3 25 | — | $923.0M | ||
| Q2 25 | — | $1.0B | ||
| Q1 25 | — | $1.0B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $1.4B |
股东权益AMRZTHO
| Q4 25 | — | $4.3B | ||
| Q3 25 | $12.9B | $4.3B | ||
| Q2 25 | $12.4B | $4.2B | ||
| Q1 25 | — | $4.0B | ||
| Q4 24 | — | $4.1B | ||
| Q3 24 | $9.8B | $4.1B | ||
| Q2 24 | $9.3B | $4.0B | ||
| Q1 24 | — | $3.9B |
总资产AMRZTHO
| Q4 25 | — | $7.0B | ||
| Q3 25 | $24.0B | $7.1B | ||
| Q2 25 | $23.8B | $7.2B | ||
| Q1 25 | — | $6.7B | ||
| Q4 24 | — | $6.9B | ||
| Q3 24 | — | $7.0B | ||
| Q2 24 | — | $7.2B | ||
| Q1 24 | — | $7.2B |
负债/权益比AMRZTHO
| Q4 25 | — | 0.21× | ||
| Q3 25 | — | 0.22× | ||
| Q2 25 | — | 0.24× | ||
| Q1 25 | — | 0.26× | ||
| Q4 24 | — | 0.27× | ||
| Q3 24 | — | 0.28× | ||
| Q2 24 | — | 0.31× | ||
| Q1 24 | — | 0.36× |
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 | $854.0M | $-44.9M |
| 自由现金流经营现金流 - 资本支出 | $669.0M | $-74.8M |
| 自由现金流率自由现金流/营收 | 18.2% | -3.1% |
| 资本支出强度资本支出/营收 | 5.0% | 1.3% |
| 现金转化率经营现金流/净利润 | 1.57× | -2.07× |
| 过去12个月自由现金流最近4个季度 | — | $375.1M |
8季度趋势，按日历期对齐
经营现金流AMRZTHO
| Q4 25 | — | $-44.9M | ||
| Q3 25 | $854.0M | $258.7M | ||
| Q2 25 | — | $257.7M | ||
| Q1 25 | — | $30.8M | ||
| Q4 24 | — | $30.7M | ||
| Q3 24 | — | $338.0M | ||
| Q2 24 | — | $251.7M | ||
| Q1 24 | — | $-103.9M |
自由现金流AMRZTHO
| Q4 25 | — | $-74.8M | ||
| Q3 25 | $669.0M | $221.6M | ||
| Q2 25 | — | $222.5M | ||
| Q1 25 | — | $5.8M | ||
| Q4 24 | — | $6.4M | ||
| Q3 24 | — | $301.3M | ||
| Q2 24 | — | $225.4M | ||
| Q1 24 | — | $-140.2M |
自由现金流率AMRZTHO
| Q4 25 | — | -3.1% | ||
| Q3 25 | 18.2% | 8.8% | ||
| Q2 25 | — | 7.7% | ||
| Q1 25 | — | 0.3% | ||
| Q4 24 | — | 0.3% | ||
| Q3 24 | — | 11.9% | ||
| Q2 24 | — | 8.0% | ||
| Q1 24 | — | -6.4% |
资本支出强度AMRZTHO
| Q4 25 | — | 1.3% | ||
| Q3 25 | 5.0% | 1.5% | ||
| Q2 25 | — | 1.2% | ||
| Q1 25 | — | 1.2% | ||
| Q4 24 | — | 1.1% | ||
| Q3 24 | — | 1.4% | ||
| Q2 24 | — | 0.9% | ||
| Q1 24 | — | 1.6% |
现金转化率AMRZTHO
| Q4 25 | — | -2.07× | ||
| Q3 25 | 1.57× | 2.06× | ||
| Q2 25 | — | 1.91× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 3.76× | ||
| Q2 24 | — | 2.20× | ||
| Q1 24 | — | -14.39× |
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
AMRZ
| Building Materials | $2.8B | 75% |
| Building Envelope | $901.0M | 25% |
| Equity Method Investee | $5.0M | 0% |
THO
| Other | $417.1M | 17% |
| Travel Trailers | $403.6M | 17% |
| Motorcaravan | $391.9M | 16% |
| Fifth Wheels Towables | $306.9M | 13% |
| Classc Motorized | $297.2M | 12% |
| Campervan | $188.3M | 8% |
| Classa Motorized | $169.9M | 7% |
| Classb Motorized | $110.0M | 5% |
| Other Rv Related | $70.0M | 3% |
| Caravan | $34.3M | 1% |
