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富兰克林邓普顿（BEN）与Kellanova（K）财务数据对比。点击上方公司名可切换其他公司
Kellanova的季度营收约是富兰克林邓普顿的1.4倍（$3.3B vs $2.3B），富兰克林邓普顿净利率更高（11.0% vs 9.5%，领先1.5%），富兰克林邓普顿同比增速更快（3.4% vs 0.8%），过去两年富兰克林邓普顿的营收复合增速更高（4.0% vs -9.0%）
富兰克林资源（运营品牌为富兰克林邓普顿）是美国跨国投资管理控股集团，1947年创立于纽约，纽交所上市代码为BEN，命名源自创始人敬仰的本杰明·富兰克林，是全球知名的综合投资服务机构。
Kellanova前身为知名食品企业家乐氏，是玛氏集团旗下的美国跨国食品制造公司，总部位于美国伊利诺伊州芝加哥。2023年10月2日公司正式启用现名，同步拆分北美谷物业务，独立成立WK Kellogg Co。
BEN vs K — 直观对比
营收规模更大
K
是对方的1.4倍
$2.3B
营收增速更快
BEN
高出2.5%
0.8%
净利率更高
BEN
高出1.5%
9.5%
两年增速更快
BEN
近两年复合增速
-9.0%
损益表 — Q1 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.3B | $3.3B |
| 净利润 | $255.5M | $309.0M |
| 毛利率 | — | 33.3% |
| 营业利润率 | 12.1% | 13.9% |
| 净利率 | 11.0% | 9.5% |
| 营收同比 | 3.4% | 0.8% |
| 净利润同比 | 56.2% | -15.8% |
| 每股收益（稀释后） | $0.46 | $0.88 |
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BENK
| Q4 25 | $2.3B | — | ||
| Q3 25 | $2.3B | $3.3B | ||
| Q2 25 | $2.1B | $3.2B | ||
| Q1 25 | $2.1B | $3.1B | ||
| Q4 24 | $2.3B | $3.1B | ||
| Q3 24 | $2.2B | $3.2B | ||
| Q2 24 | $2.1B | $3.2B | ||
| Q1 24 | $2.2B | $3.2B |
净利润BENK
| Q4 25 | $255.5M | — | ||
| Q3 25 | $117.6M | $309.0M | ||
| Q2 25 | $92.3M | $299.0M | ||
| Q1 25 | $151.4M | $304.0M | ||
| Q4 24 | $163.6M | $365.0M | ||
| Q3 24 | $-84.7M | $367.0M | ||
| Q2 24 | $174.0M | $344.0M | ||
| Q1 24 | $124.2M | $267.0M |
毛利率BENK
| Q4 25 | — | — | ||
| Q3 25 | — | 33.3% | ||
| Q2 25 | — | 34.0% | ||
| Q1 25 | — | 34.3% | ||
| Q4 24 | — | 37.7% | ||
| Q3 24 | — | 36.4% | ||
| Q2 24 | — | 36.4% | ||
| Q1 24 | — | 32.2% |
营业利润率BENK
| Q4 25 | 12.1% | — | ||
| Q3 25 | 3.6% | 13.9% | ||
| Q2 25 | 7.5% | 13.7% | ||
| Q1 25 | 6.9% | 13.9% | ||
| Q4 24 | 9.7% | 17.0% | ||
| Q3 24 | -6.8% | 14.1% | ||
| Q2 24 | 10.5% | 15.4% | ||
| Q1 24 | 6.0% | 12.3% |
净利率BENK
| Q4 25 | 11.0% | — | ||
| Q3 25 | 5.0% | 9.5% | ||
| Q2 25 | 4.5% | 9.3% | ||
| Q1 25 | 7.2% | 9.9% | ||
| Q4 24 | 7.3% | 11.7% | ||
| Q3 24 | -3.8% | 11.4% | ||
| Q2 24 | 8.2% | 10.8% | ||
| Q1 24 | 5.8% | 8.3% |
每股收益（稀释后）BENK
| Q4 25 | $0.46 | — | ||
| Q3 25 | $0.21 | $0.88 | ||
| Q2 25 | $0.15 | $0.85 | ||
| Q1 25 | $0.26 | $0.87 | ||
| Q4 24 | $0.29 | $1.05 | ||
| Q3 24 | $-0.20 | $1.05 | ||
| Q2 24 | $0.32 | $1.00 | ||
| Q1 24 | $0.23 | $0.78 |
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 | — | $240.0M |
| 总债务越低越好 | $2.4B | $4.3B |
| 股东权益账面价值 | $12.1B | $4.2B |
| 总资产 | $32.5B | $15.6B |
| 负债/权益比越低杠杆越低 | 0.19× | 1.02× |
8季度趋势，按日历期对齐
现金及短期投资BENK
| Q4 25 | — | — | ||
| Q3 25 | — | $240.0M | ||
| Q2 25 | — | $354.0M | ||
| Q1 25 | — | $330.0M | ||
| Q4 24 | — | $694.0M | ||
| Q3 24 | — | $569.0M | ||
| Q2 24 | — | $272.0M | ||
| Q1 24 | — | $242.0M |
总债务BENK
| Q4 25 | $2.4B | — | ||
| Q3 25 | $2.4B | $4.3B | ||
| Q2 25 | $2.7B | $4.3B | ||
| Q1 25 | $2.7B | $5.0B | ||
| Q4 24 | $2.8B | $5.0B | ||
| Q3 24 | $2.8B | $5.1B | ||
| Q2 24 | $3.0B | $5.0B | ||
| Q1 24 | $3.0B | $4.4B |
股东权益BENK
| Q4 25 | $12.1B | — | ||
| Q3 25 | $12.1B | $4.2B | ||
| Q2 25 | $12.2B | $4.1B | ||
| Q1 25 | $12.3B | $3.9B | ||
| Q4 24 | $12.5B | $3.8B | ||
| Q3 24 | $12.5B | $3.6B | ||
| Q2 24 | $12.9B | $3.3B | ||
| Q1 24 | $12.9B | $3.2B |
总资产BENK
| Q4 25 | $32.5B | — | ||
| Q3 25 | $32.4B | $15.6B | ||
| Q2 25 | $32.6B | $15.9B | ||
| Q1 25 | $32.0B | $15.5B | ||
| Q4 24 | $32.4B | $15.6B | ||
| Q3 24 | $32.5B | $15.8B | ||
| Q2 24 | $33.3B | $15.3B | ||
| Q1 24 | $32.9B | $15.3B |
负债/权益比BENK
| Q4 25 | 0.19× | — | ||
| Q3 25 | 0.20× | 1.02× | ||
| Q2 25 | 0.22× | 1.05× | ||
| Q1 25 | 0.22× | 1.28× | ||
| Q4 24 | 0.22× | 1.32× | ||
| Q3 24 | 0.22× | 1.40× | ||
| Q2 24 | 0.24× | 1.51× | ||
| Q1 24 | 0.24× | 1.40× |
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 | $-255.1M | $503.0M |
| 自由现金流经营现金流 - 资本支出 | — | $359.0M |
| 自由现金流率自由现金流/营收 | — | 11.0% |
| 资本支出强度资本支出/营收 | — | 4.4% |
| 现金转化率经营现金流/净利润 | -1.00× | 1.63× |
| 过去12个月自由现金流最近4个季度 | — | $599.0M |
8季度趋势，按日历期对齐
经营现金流BENK
| Q4 25 | $-255.1M | — | ||
| Q3 25 | $-20.7M | $503.0M | ||
| Q2 25 | $1.3B | $169.0M | ||
| Q1 25 | $-50.1M | $116.0M | ||
| Q4 24 | $-145.2M | $467.0M | ||
| Q3 24 | $558.2M | $553.0M | ||
| Q2 24 | $528.4M | $376.0M | ||
| Q1 24 | $136.6M | $364.0M |
自由现金流BENK
| Q4 25 | — | — | ||
| Q3 25 | $-51.9M | $359.0M | ||
| Q2 25 | $1.3B | $21.0M | ||
| Q1 25 | $-87.6M | $-60.0M | ||
| Q4 24 | $-217.0M | $279.0M | ||
| Q3 24 | $488.4M | $410.0M | ||
| Q2 24 | $482.3M | $234.0M | ||
| Q1 24 | $94.9M | $209.0M |
自由现金流率BENK
| Q4 25 | — | — | ||
| Q3 25 | -2.2% | 11.0% | ||
| Q2 25 | 61.4% | 0.7% | ||
| Q1 25 | -4.1% | -1.9% | ||
| Q4 24 | -9.6% | 8.9% | ||
| Q3 24 | 22.1% | 12.7% | ||
| Q2 24 | 22.7% | 7.3% | ||
| Q1 24 | 4.4% | 6.5% |
资本支出强度BENK
| Q4 25 | — | — | ||
| Q3 25 | 1.3% | 4.4% | ||
| Q2 25 | 0.7% | 4.6% | ||
| Q1 25 | 1.8% | 5.7% | ||
| Q4 24 | 3.2% | 6.0% | ||
| Q3 24 | 3.2% | 4.4% | ||
| Q2 24 | 2.2% | 4.4% | ||
| Q1 24 | 1.9% | 4.8% |
现金转化率BENK
| Q4 25 | -1.00× | — | ||
| Q3 25 | -0.18× | 1.63× | ||
| Q2 25 | 13.89× | 0.57× | ||
| Q1 25 | -0.33× | 0.38× | ||
| Q4 24 | -0.89× | 1.28× | ||
| Q3 24 | — | 1.51× | ||
| Q2 24 | 3.04× | 1.09× | ||
| Q1 24 | 1.10× | 1.36× |
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
BEN
| Investment Advisory Management And Administrative Service | $1.8B | 79% |
| Sales And Distribution Fees | $388.7M | 17% |
| Shareholder Service | $70.9M | 3% |
| Service Other | $19.6M | 1% |
K
| Retail Channel Snacks | $2.0B | 62% |
| Retail Channel Cereal | $678.0M | 21% |
| Noodlesand Other | $280.0M | 9% |
| Frozen And Specialty Channels | $275.0M | 8% |
