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Church & Dwight（CHD）与Paychex（PAYX）财务数据对比。点击上方公司名可切换其他公司
Church & Dwight的季度营收约是Paychex的1.1倍（$1.6B vs $1.5B），Paychex净利率更高（26.3% vs 8.7%，领先17.6%），Paychex同比增速更快（17.4% vs 3.9%），过去两年Church & Dwight的营收复合增速更高（4.6% vs 3.8%）
Church & Dwight是美国知名消费品企业，成立于1847年，总部位于新泽西州尤因。公司主营个人护理、家居用品及特色产品，旗下拥有Arm & Hammer、Trojan、OxiClean等知名品牌，2022年全年营收达54亿美元。
Paychex是美国知名人力资源服务提供商，1971年成立，总部位于纽约州罗切斯特，面向中小微企业提供薪资管理、人力资源外包、员工福利外包等服务。目前在美欧地区拥有超100个办事处，服务约80万家薪资客户，位列《财富》500强第681位。
CHD vs PAYX — 直观对比
营收规模更大
CHD
是对方的1.1倍
$1.5B
营收增速更快
PAYX
高出13.4%
3.9%
净利率更高
PAYX
高出17.6%
8.7%
两年增速更快
CHD
近两年复合增速
3.8%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $1.5B |
| 净利润 | $143.5M | $395.4M |
| 毛利率 | 45.8% | 72.6% |
| 营业利润率 | 16.2% | 38.0% |
| 净利率 | 8.7% | 26.3% |
| 营收同比 | 3.9% | 17.4% |
| 净利润同比 | -24.2% | -4.4% |
| 每股收益（稀释后） | $0.60 | $1.10 |
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CHDPAYX
| Q4 25 | $1.6B | $1.5B | ||
| Q3 25 | $1.6B | $1.5B | ||
| Q2 25 | $1.5B | $1.4B | ||
| Q1 25 | $1.5B | $1.5B | ||
| Q4 24 | $1.6B | $1.3B | ||
| Q3 24 | $1.5B | $1.3B | ||
| Q2 24 | $1.5B | $1.3B | ||
| Q1 24 | $1.5B | $1.4B |
净利润CHDPAYX
| Q4 25 | $143.5M | $395.4M | ||
| Q3 25 | $182.2M | $383.8M | ||
| Q2 25 | $191.0M | $297.2M | ||
| Q1 25 | $220.1M | $519.3M | ||
| Q4 24 | $189.2M | $413.4M | ||
| Q3 24 | $-75.1M | $427.4M | ||
| Q2 24 | $243.5M | $379.9M | ||
| Q1 24 | $227.7M | $498.6M |
毛利率CHDPAYX
| Q4 25 | 45.8% | 72.6% | ||
| Q3 25 | 45.1% | 72.3% | ||
| Q2 25 | 43.0% | 71.5% | ||
| Q1 25 | 45.0% | 73.6% | ||
| Q4 24 | 44.7% | 70.4% | ||
| Q3 24 | 45.2% | 70.3% | ||
| Q2 24 | 47.1% | 70.1% | ||
| Q1 24 | 45.7% | 72.8% |
营业利润率CHDPAYX
| Q4 25 | 16.2% | 38.0% | ||
| Q3 25 | 16.1% | 36.3% | ||
| Q2 25 | 17.4% | 31.2% | ||
| Q1 25 | 20.1% | 47.2% | ||
| Q4 24 | 16.2% | 42.0% | ||
| Q3 24 | -6.1% | 42.7% | ||
| Q2 24 | 22.3% | 38.3% | ||
| Q1 24 | 20.3% | 46.6% |
净利率CHDPAYX
| Q4 25 | 8.7% | 26.3% | ||
| Q3 25 | 11.5% | 25.7% | ||
| Q2 25 | 12.7% | 21.5% | ||
| Q1 25 | 15.0% | 35.4% | ||
| Q4 24 | 12.0% | 32.3% | ||
| Q3 24 | -5.0% | 33.4% | ||
| Q2 24 | 16.1% | 30.2% | ||
| Q1 24 | 15.1% | 35.7% |
每股收益（稀释后）CHDPAYX
| Q4 25 | $0.60 | $1.10 | ||
| Q3 25 | $0.75 | $1.06 | ||
| Q2 25 | $0.78 | $0.83 | ||
| Q1 25 | $0.89 | $1.43 | ||
| Q4 24 | $0.76 | $1.14 | ||
| Q3 24 | $-0.31 | $1.18 | ||
| Q2 24 | $0.99 | $1.05 | ||
| Q1 24 | $0.93 | $1.38 |
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 | $409.0M | $1.5B |
| 总债务越低越好 | $2.2B | $5.0B |
| 股东权益账面价值 | $4.0B | $3.9B |
| 总资产 | $8.9B | $16.5B |
| 负债/权益比越低杠杆越低 | 0.55× | 1.28× |
8季度趋势，按日历期对齐
现金及短期投资CHDPAYX
| Q4 25 | $409.0M | $1.5B | ||
| Q3 25 | $305.3M | $1.7B | ||
| Q2 25 | $923.2M | $1.7B | ||
| Q1 25 | $1.1B | $1.6B | ||
| Q4 24 | $964.1M | $1.2B | ||
| Q3 24 | $752.1M | $1.5B | ||
| Q2 24 | $491.7M | $1.5B | ||
| Q1 24 | $349.7M | $1.7B |
总债务CHDPAYX
| Q4 25 | $2.2B | $5.0B | ||
| Q3 25 | $2.2B | $5.0B | ||
| Q2 25 | $2.2B | $4.9B | ||
| Q1 25 | $2.2B | — | ||
| Q4 24 | $2.2B | — | ||
| Q3 24 | $2.2B | — | ||
| Q2 24 | $2.2B | $798.6M | ||
| Q1 24 | $2.2B | — |
股东权益CHDPAYX
| Q4 25 | $4.0B | $3.9B | ||
| Q3 25 | $4.2B | $4.0B | ||
| Q2 25 | $4.4B | $4.1B | ||
| Q1 25 | $4.6B | $4.1B | ||
| Q4 24 | $4.4B | $3.9B | ||
| Q3 24 | $4.2B | $3.9B | ||
| Q2 24 | $4.3B | $3.8B | ||
| Q1 24 | $4.1B | $3.7B |
总资产CHDPAYX
| Q4 25 | $8.9B | $16.5B | ||
| Q3 25 | $9.1B | $16.7B | ||
| Q2 25 | $8.8B | $16.6B | ||
| Q1 25 | $9.0B | $11.2B | ||
| Q4 24 | $8.9B | $10.6B | ||
| Q3 24 | $8.7B | $10.5B | ||
| Q2 24 | $8.8B | $10.4B | ||
| Q1 24 | $8.6B | $13.0B |
负债/权益比CHDPAYX
| Q4 25 | 0.55× | 1.28× | ||
| Q3 25 | 0.52× | 1.25× | ||
| Q2 25 | 0.50× | 1.20× | ||
| Q1 25 | 0.48× | — | ||
| Q4 24 | 0.51× | — | ||
| Q3 24 | 0.53× | — | ||
| Q2 24 | 0.51× | 0.21× | ||
| Q1 24 | 0.54× | — |
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 | — | $444.9M |
| 自由现金流经营现金流 - 资本支出 | — | $382.8M |
| 自由现金流率自由现金流/营收 | — | 25.5% |
| 资本支出强度资本支出/营收 | 3.4% | 4.1% |
| 现金转化率经营现金流/净利润 | — | 1.13× |
| 过去12个月自由现金流最近4个季度 | — | $2.0B |
8季度趋势，按日历期对齐
经营现金流CHDPAYX
| Q4 25 | — | $444.9M | ||
| Q3 25 | — | $718.4M | ||
| Q2 25 | — | $343.8M | ||
| Q1 25 | — | $716.0M | ||
| Q4 24 | $292.3M | $295.0M | ||
| Q3 24 | $364.0M | $546.1M | ||
| Q2 24 | $236.9M | $221.7M | ||
| Q1 24 | $263.0M | $671.7M |
自由现金流CHDPAYX
| Q4 25 | — | $382.8M | ||
| Q3 25 | — | $662.5M | ||
| Q2 25 | — | $283.3M | ||
| Q1 25 | — | $667.3M | ||
| Q4 24 | $237.7M | $248.0M | ||
| Q3 24 | $315.4M | $510.5M | ||
| Q2 24 | $206.6M | $180.4M | ||
| Q1 24 | $216.7M | $631.0M |
自由现金流率CHDPAYX
| Q4 25 | — | 25.5% | ||
| Q3 25 | — | 44.4% | ||
| Q2 25 | — | 20.5% | ||
| Q1 25 | — | 45.5% | ||
| Q4 24 | 15.0% | 19.4% | ||
| Q3 24 | 20.9% | 39.9% | ||
| Q2 24 | 13.7% | 14.4% | ||
| Q1 24 | 14.4% | 45.2% |
资本支出强度CHDPAYX
| Q4 25 | 3.4% | 4.1% | ||
| Q3 25 | 1.8% | 3.7% | ||
| Q2 25 | 1.5% | 4.4% | ||
| Q1 25 | 1.1% | 3.3% | ||
| Q4 24 | 3.5% | 3.7% | ||
| Q3 24 | 3.2% | 2.8% | ||
| Q2 24 | 2.0% | 3.3% | ||
| Q1 24 | 3.1% | 2.9% |
现金转化率CHDPAYX
| Q4 25 | — | 1.13× | ||
| Q3 25 | — | 1.87× | ||
| Q2 25 | — | 1.16× | ||
| Q1 25 | — | 1.38× | ||
| Q4 24 | 1.54× | 0.71× | ||
| Q3 24 | — | 1.28× | ||
| Q2 24 | 0.97× | 0.58× | ||
| Q1 24 | 1.16× | 1.35× |
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
CHD
| Household Products | $645.3M | 39% |
| Personal Care Products | $625.9M | 38% |
| Consumer International | $299.8M | 18% |
| Specialty Products Division | $73.2M | 4% |
PAYX
| Management Solutions | $1.2B | 78% |
| Peo And Insurance Solutions | $336.9M | 22% |
