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C.H. Robinson（CHRW）与荷美尔食品（HRL）财务数据对比。点击上方公司名可切换其他公司
C.H. Robinson的季度营收约是荷美尔食品的1.2倍（$3.9B vs $3.2B），C.H. Robinson净利率更高（3.5% vs -1.8%，领先5.2%），荷美尔食品同比增速更快（1.5% vs -6.5%），C.H. Robinson自由现金流更多（$302.4M vs $231.4M），过去两年荷美尔食品的营收复合增速更高（3.1% vs -5.8%）
C.H. Robinson是美国知名第三方物流与运输服务企业，业务涵盖货运代理、运输管理、中介经纪及仓储服务，可提供整车、零担、空运、多式联运、海运等多种运输解决方案，满足全球客户差异化物流需求。
荷美尔食品是1891年于美国明尼苏达州奥斯汀成立的跨国食品加工企业，由乔治·A·荷美尔创立。品牌最初主营火腿、香肠等各类畜肉产品的包装与销售，1937年推出斯帕姆午餐肉，上世纪80年代起逐步拓展多元化包装及冷藏食品产品线。
CHRW vs HRL — 直观对比
营收规模更大
CHRW
是对方的1.2倍
$3.2B
营收增速更快
HRL
高出8.0%
-6.5%
净利率更高
CHRW
高出5.2%
-1.8%
自由现金流更多
CHRW
多$71.0M
$231.4M
两年增速更快
HRL
近两年复合增速
-5.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.9B | $3.2B |
| 净利润 | $136.3M | $-56.1M |
| 毛利率 | — | 14.0% |
| 营业利润率 | 4.6% | 0.1% |
| 净利率 | 3.5% | -1.8% |
| 营收同比 | -6.5% | 1.5% |
| 净利润同比 | -8.7% | -125.5% |
| 每股收益（稀释后） | $1.12 | $-0.10 |
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CHRWHRL
| Q4 25 | $3.9B | $3.2B | ||
| Q3 25 | $4.1B | $3.0B | ||
| Q2 25 | $4.1B | $2.9B | ||
| Q1 25 | $4.0B | $3.0B | ||
| Q4 24 | $4.2B | $3.1B | ||
| Q3 24 | $4.6B | $2.9B | ||
| Q2 24 | $4.5B | $2.9B | ||
| Q1 24 | $4.4B | $3.0B |
净利润CHRWHRL
| Q4 25 | $136.3M | $-56.1M | ||
| Q3 25 | $163.0M | $183.7M | ||
| Q2 25 | $152.5M | $180.0M | ||
| Q1 25 | $135.3M | $170.6M | ||
| Q4 24 | $149.3M | $220.2M | ||
| Q3 24 | $97.2M | $176.7M | ||
| Q2 24 | $126.3M | $189.3M | ||
| Q1 24 | $92.9M | $218.9M |
毛利率CHRWHRL
| Q4 25 | — | 14.0% | ||
| Q3 25 | — | 16.1% | ||
| Q2 25 | — | 16.7% | ||
| Q1 25 | — | 15.9% | ||
| Q4 24 | — | 16.6% | ||
| Q3 24 | — | 16.8% | ||
| Q2 24 | — | 17.4% | ||
| Q1 24 | — | 17.0% |
营业利润率CHRWHRL
| Q4 25 | 4.6% | 0.1% | ||
| Q3 25 | 5.3% | 7.9% | ||
| Q2 25 | 5.2% | 8.6% | ||
| Q1 25 | 4.4% | 7.6% | ||
| Q4 24 | 4.4% | 9.4% | ||
| Q3 24 | 3.9% | 8.2% | ||
| Q2 24 | 4.0% | 8.7% | ||
| Q1 24 | 2.9% | 9.5% |
净利率CHRWHRL
| Q4 25 | 3.5% | -1.8% | ||
| Q3 25 | 3.9% | 6.1% | ||
| Q2 25 | 3.7% | 6.2% | ||
| Q1 25 | 3.3% | 5.7% | ||
| Q4 24 | 3.6% | 7.0% | ||
| Q3 24 | 2.1% | 6.1% | ||
| Q2 24 | 2.8% | 6.6% | ||
| Q1 24 | 2.1% | 7.3% |
每股收益（稀释后）CHRWHRL
| Q4 25 | $1.12 | $-0.10 | ||
| Q3 25 | $1.34 | $0.33 | ||
| Q2 25 | $1.26 | $0.33 | ||
| Q1 25 | $1.11 | $0.31 | ||
| Q4 24 | $1.23 | $0.41 | ||
| Q3 24 | $0.80 | $0.32 | ||
| Q2 24 | $1.05 | $0.34 | ||
| Q1 24 | $0.78 | $0.40 |
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 | $160.9M | $703.6M |
| 总债务越低越好 | $1.1B | $2.9B |
| 股东权益账面价值 | $1.8B | $7.9B |
| 总资产 | $5.1B | $13.4B |
| 负债/权益比越低杠杆越低 | 0.59× | 0.36× |
8季度趋势，按日历期对齐
现金及短期投资CHRWHRL
| Q4 25 | $160.9M | $703.6M | ||
| Q3 25 | $136.8M | $630.7M | ||
| Q2 25 | $156.0M | $699.0M | ||
| Q1 25 | $129.9M | $866.4M | ||
| Q4 24 | $145.8M | $766.6M | ||
| Q3 24 | $131.7M | $561.9M | ||
| Q2 24 | $113.2M | $1.5B | ||
| Q1 24 | $121.8M | $981.9M |
总债务CHRWHRL
| Q4 25 | $1.1B | $2.9B | ||
| Q3 25 | $1.2B | $2.9B | ||
| Q2 25 | $1.4B | $2.9B | ||
| Q1 25 | $1.4B | $2.9B | ||
| Q4 24 | $1.4B | $2.9B | ||
| Q3 24 | $1.6B | $2.9B | ||
| Q2 24 | $1.6B | $2.9B | ||
| Q1 24 | $1.7B | $2.4B |
股东权益CHRWHRL
| Q4 25 | $1.8B | $7.9B | ||
| Q3 25 | $1.9B | $8.1B | ||
| Q2 25 | $1.8B | $8.0B | ||
| Q1 25 | $1.7B | $8.0B | ||
| Q4 24 | $1.7B | $8.0B | ||
| Q3 24 | $1.6B | $7.9B | ||
| Q2 24 | $1.5B | $7.9B | ||
| Q1 24 | $1.4B | $7.8B |
总资产CHRWHRL
| Q4 25 | $5.1B | $13.4B | ||
| Q3 25 | $5.2B | $13.5B | ||
| Q2 25 | $5.3B | $13.4B | ||
| Q1 25 | $5.2B | $13.4B | ||
| Q4 24 | $5.3B | $13.4B | ||
| Q3 24 | $5.6B | $13.1B | ||
| Q2 24 | $5.5B | $14.1B | ||
| Q1 24 | $5.5B | $13.5B |
负债/权益比CHRWHRL
| Q4 25 | 0.59× | 0.36× | ||
| Q3 25 | 0.64× | 0.35× | ||
| Q2 25 | 0.76× | 0.35× | ||
| Q1 25 | 0.80× | 0.36× | ||
| Q4 24 | 0.80× | 0.36× | ||
| Q3 24 | 0.95× | 0.36× | ||
| Q2 24 | 1.07× | 0.36× | ||
| Q1 24 | 1.19× | 0.30× |
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 | $305.4M | $322.9M |
| 自由现金流经营现金流 - 资本支出 | $302.4M | $231.4M |
| 自由现金流率自由现金流/营收 | 7.7% | 7.3% |
| 资本支出强度资本支出/营收 | 0.1% | 2.9% |
| 现金转化率经营现金流/净利润 | 2.24× | — |
| 过去12个月自由现金流最近4个季度 | $894.9M | $534.3M |
8季度趋势，按日历期对齐
经营现金流CHRWHRL
| Q4 25 | $305.4M | $322.9M | ||
| Q3 25 | $275.4M | $156.7M | ||
| Q2 25 | $227.1M | $56.4M | ||
| Q1 25 | $106.5M | $309.2M | ||
| Q4 24 | $267.9M | $408.6M | ||
| Q3 24 | $108.1M | $218.0M | ||
| Q2 24 | $166.4M | $236.1M | ||
| Q1 24 | $-33.3M | $404.0M |
自由现金流CHRWHRL
| Q4 25 | $302.4M | $231.4M | ||
| Q3 25 | $269.5M | $84.5M | ||
| Q2 25 | $219.8M | $-18.6M | ||
| Q1 25 | $103.2M | $237.0M | ||
| Q4 24 | $265.3M | $324.8M | ||
| Q3 24 | $103.3M | $152.5M | ||
| Q2 24 | $159.8M | $176.2M | ||
| Q1 24 | $-41.9M | $356.8M |
自由现金流率CHRWHRL
| Q4 25 | 7.7% | 7.3% | ||
| Q3 25 | 6.5% | 2.8% | ||
| Q2 25 | 5.3% | -0.6% | ||
| Q1 25 | 2.5% | 7.9% | ||
| Q4 24 | 6.3% | 10.4% | ||
| Q3 24 | 2.2% | 5.3% | ||
| Q2 24 | 3.6% | 6.1% | ||
| Q1 24 | -1.0% | 11.9% |
资本支出强度CHRWHRL
| Q4 25 | 0.1% | 2.9% | ||
| Q3 25 | 0.1% | 2.4% | ||
| Q2 25 | 0.2% | 2.6% | ||
| Q1 25 | 0.1% | 2.4% | ||
| Q4 24 | 0.1% | 2.7% | ||
| Q3 24 | 0.1% | 2.3% | ||
| Q2 24 | 0.1% | 2.1% | ||
| Q1 24 | 0.2% | 1.6% |
现金转化率CHRWHRL
| Q4 25 | 2.24× | — | ||
| Q3 25 | 1.69× | 0.85× | ||
| Q2 25 | 1.49× | 0.31× | ||
| Q1 25 | 0.79× | 1.81× | ||
| Q4 24 | 1.79× | 1.86× | ||
| Q3 24 | 1.11× | 1.23× | ||
| Q2 24 | 1.32× | 1.25× | ||
| Q1 24 | -0.36× | 1.85× |
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
CHRW
| North American Service Transportation NAST | $2.8B | 72% |
| Global Forwarding | $731.0M | 19% |
| Sourcing | $340.9M | 9% |
HRL
| Retail Segment | $1.9B | 60% |
| Foodservice Segment | $1.1B | 34% |
| Other | $174.7M | 5% |
