vs
AutoZone（AZO）与卡夫亨氏（KHC）财务数据对比。点击上方公司名可切换其他公司
卡夫亨氏的季度营收约是AutoZone的1.5倍（$6.4B vs $4.3B），AutoZone净利率更高（11.0% vs 10.2%，领先0.7%），AutoZone同比增速更快（8.1% vs -3.4%），卡夫亨氏自由现金流更多（$1.2B vs $35.6M），过去两年AutoZone的营收复合增速更高（0.5% vs -0.4%）
AutoZone是美国规模最大的汽车售后零部件及配件零售商，1979年正式成立，总部位于田纳西州孟菲斯。目前企业在全美、墨西哥、波多黎各、巴西及美属维尔京群岛共开设7140家门店，为车主及汽修从业人员提供多元齐全的汽车相关配件产品。
卡夫亨氏（股票代码：KHC）是美国大型跨国食品企业，由原卡夫食品集团与亨氏公司合并组建，在芝加哥与匹兹堡均设有总部，旗下拥有多款全球知名食品品牌，业务覆盖全球众多市场。
AZO vs KHC — 直观对比
营收规模更大
KHC
是对方的1.5倍
$4.3B
营收增速更快
AZO
高出11.5%
-3.4%
净利率更高
AZO
高出0.7%
10.2%
自由现金流更多
KHC
多$1.1B
$35.6M
两年增速更快
AZO
近两年复合增速
-0.4%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.3B | $6.4B |
| 净利润 | $468.9M | $651.0M |
| 毛利率 | 52.5% | 32.6% |
| 营业利润率 | 16.3% | 17.1% |
| 净利率 | 11.0% | 10.2% |
| 营收同比 | 8.1% | -3.4% |
| 净利润同比 | -3.9% | -69.5% |
| 每股收益（稀释后） | $27.63 | $0.56 |
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AZOKHC
| Q1 26 | $4.3B | — | ||
| Q4 25 | $4.6B | $6.4B | ||
| Q3 25 | $6.2B | $6.2B | ||
| Q2 25 | $4.5B | $6.4B | ||
| Q1 25 | $4.0B | $6.0B | ||
| Q4 24 | $4.3B | $6.6B | ||
| Q3 24 | $6.2B | $6.4B | ||
| Q2 24 | $4.2B | $6.5B |
净利润AZOKHC
| Q1 26 | $468.9M | — | ||
| Q4 25 | $530.8M | $651.0M | ||
| Q3 25 | $837.0M | $615.0M | ||
| Q2 25 | $608.4M | $-7.8B | ||
| Q1 25 | $487.9M | $712.0M | ||
| Q4 24 | $564.9M | $2.1B | ||
| Q3 24 | $902.2M | $-290.0M | ||
| Q2 24 | $651.7M | $102.0M |
毛利率AZOKHC
| Q1 26 | 52.5% | — | ||
| Q4 25 | 51.0% | 32.6% | ||
| Q3 25 | 51.5% | 31.9% | ||
| Q2 25 | 52.7% | 34.4% | ||
| Q1 25 | 53.9% | 34.4% | ||
| Q4 24 | 53.0% | 34.1% | ||
| Q3 24 | 52.5% | 34.2% | ||
| Q2 24 | 53.5% | 35.4% |
营业利润率AZOKHC
| Q1 26 | 16.3% | — | ||
| Q4 25 | 16.9% | 17.1% | ||
| Q3 25 | 19.2% | 16.4% | ||
| Q2 25 | 19.4% | -125.5% | ||
| Q1 25 | 17.9% | 19.9% | ||
| Q4 24 | 19.7% | -0.6% | ||
| Q3 24 | 20.9% | -1.6% | ||
| Q2 24 | 21.3% | 8.1% |
净利率AZOKHC
| Q1 26 | 11.0% | — | ||
| Q4 25 | 11.5% | 10.2% | ||
| Q3 25 | 13.4% | 9.9% | ||
| Q2 25 | 13.6% | -123.2% | ||
| Q1 25 | 12.3% | 11.9% | ||
| Q4 24 | 13.2% | 32.4% | ||
| Q3 24 | 14.5% | -4.5% | ||
| Q2 24 | 15.4% | 1.6% |
每股收益（稀释后）AZOKHC
| Q1 26 | $27.63 | — | ||
| Q4 25 | $31.04 | $0.56 | ||
| Q3 25 | $48.70 | $0.52 | ||
| Q2 25 | $35.36 | $-6.60 | ||
| Q1 25 | $28.29 | $0.59 | ||
| Q4 24 | $32.52 | $1.76 | ||
| Q3 24 | $51.42 | $-0.24 | ||
| Q2 24 | $36.69 | $0.08 |
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 | $285.5M | $2.6B |
| 总债务越低越好 | — | $19.3B |
| 股东权益账面价值 | $-2.9B | $41.7B |
| 总资产 | $20.4B | $81.8B |
| 负债/权益比越低杠杆越低 | — | 0.46× |
8季度趋势，按日历期对齐
现金及短期投资AZOKHC
| Q1 26 | $285.5M | — | ||
| Q4 25 | $287.6M | $2.6B | ||
| Q3 25 | $271.8M | $3.1B | ||
| Q2 25 | $268.6M | $2.6B | ||
| Q1 25 | $300.9M | $2.8B | ||
| Q4 24 | $304.0M | $1.3B | ||
| Q3 24 | $298.2M | $1.3B | ||
| Q2 24 | $275.4M | $900.0M |
总债务AZOKHC
| Q1 26 | — | — | ||
| Q4 25 | — | $19.3B | ||
| Q3 25 | — | $19.3B | ||
| Q2 25 | — | $19.3B | ||
| Q1 25 | — | $20.9B | ||
| Q4 24 | — | $19.2B | ||
| Q3 24 | — | $19.4B | ||
| Q2 24 | — | $19.3B |
股东权益AZOKHC
| Q1 26 | $-2.9B | — | ||
| Q4 25 | $-3.2B | $41.7B | ||
| Q3 25 | $-3.4B | $41.5B | ||
| Q2 25 | $-4.0B | $41.4B | ||
| Q1 25 | $-4.5B | $49.5B | ||
| Q4 24 | $-4.7B | $49.2B | ||
| Q3 24 | $-4.7B | $48.3B | ||
| Q2 24 | $-4.8B | $48.9B |
总资产AZOKHC
| Q1 26 | $20.4B | — | ||
| Q4 25 | $19.7B | $81.8B | ||
| Q3 25 | $19.4B | $81.7B | ||
| Q2 25 | $18.6B | $81.6B | ||
| Q1 25 | $18.1B | $90.3B | ||
| Q4 24 | $17.5B | $88.3B | ||
| Q3 24 | $17.2B | $88.6B | ||
| Q2 24 | $17.1B | $88.8B |
负债/权益比AZOKHC
| Q1 26 | — | — | ||
| Q4 25 | — | 0.46× | ||
| Q3 25 | — | 0.47× | ||
| Q2 25 | — | 0.47× | ||
| Q1 25 | — | 0.42× | ||
| Q4 24 | — | 0.39× | ||
| Q3 24 | — | 0.40× | ||
| Q2 24 | — | 0.39× |
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 | $373.4M | $1.4B |
| 自由现金流经营现金流 - 资本支出 | $35.6M | $1.2B |
| 自由现金流率自由现金流/营收 | 0.8% | 18.4% |
| 资本支出强度资本支出/营收 | 7.9% | 3.2% |
| 现金转化率经营现金流/净利润 | 0.80× | 2.11× |
| 过去12个月自由现金流最近4个季度 | $1.6B | $3.7B |
8季度趋势，按日历期对齐
经营现金流AZOKHC
| Q1 26 | $373.4M | — | ||
| Q4 25 | $944.2M | $1.4B | ||
| Q3 25 | $952.8M | $1.2B | ||
| Q2 25 | $769.0M | $1.2B | ||
| Q1 25 | $583.7M | $720.0M | ||
| Q4 24 | $811.8M | $1.4B | ||
| Q3 24 | $1.1B | $1.1B | ||
| Q2 24 | $669.5M | $942.0M |
自由现金流AZOKHC
| Q1 26 | $35.6M | — | ||
| Q4 25 | $630.0M | $1.2B | ||
| Q3 25 | $511.1M | $986.0M | ||
| Q2 25 | $423.1M | $1.0B | ||
| Q1 25 | $291.0M | $482.0M | ||
| Q4 24 | $564.8M | $1.1B | ||
| Q3 24 | $723.5M | $849.0M | ||
| Q2 24 | $434.4M | $693.0M |
自由现金流率AZOKHC
| Q1 26 | 0.8% | — | ||
| Q4 25 | 13.6% | 18.4% | ||
| Q3 25 | 8.2% | 15.8% | ||
| Q2 25 | 9.5% | 16.1% | ||
| Q1 25 | 7.4% | 8.0% | ||
| Q4 24 | 13.2% | 17.4% | ||
| Q3 24 | 11.7% | 13.3% | ||
| Q2 24 | 10.3% | 10.7% |
资本支出强度AZOKHC
| Q1 26 | 7.9% | — | ||
| Q4 25 | 6.8% | 3.2% | ||
| Q3 25 | 7.1% | 2.7% | ||
| Q2 25 | 7.7% | 2.9% | ||
| Q1 25 | 7.4% | 4.0% | ||
| Q4 24 | 5.8% | 3.8% | ||
| Q3 24 | 5.6% | 3.7% | ||
| Q2 24 | 5.6% | 3.8% |
现金转化率AZOKHC
| Q1 26 | 0.80× | — | ||
| Q4 25 | 1.78× | 2.11× | ||
| Q3 25 | 1.14× | 1.88× | ||
| Q2 25 | 1.26× | — | ||
| Q1 25 | 1.20× | 1.01× | ||
| Q4 24 | 1.44× | 0.65× | ||
| Q3 24 | 1.19× | — | ||
| Q2 24 | 1.03× | 9.24× |
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
AZO
暂无分部数据
KHC
| Taste Elevation | $2.9B | 46% |
| Easy Ready Meals | $1.1B | 17% |
| Hydration | $471.0M | 7% |
| Cheese | $440.0M | 7% |
| Meats | $438.0M | 7% |
| Substantial Snacking | $351.0M | 6% |
| Desserts | $332.0M | 5% |
| Coffee | $221.0M | 3% |
| Other Platform | $127.0M | 2% |
