vs
Deckers Brands（DECK）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
荷美尔食品的季度营收约是Deckers Brands的1.6倍（$3.2B vs $2.0B），Deckers Brands净利率更高（24.6% vs -1.8%，领先26.3%），Deckers Brands同比增速更快（7.1% vs 1.5%），Deckers Brands自由现金流更多（$1.0B vs $231.4M），过去两年Deckers Brands的营收复合增速更高（42.8% vs 3.1%）
Deckers Brands是1973年成立的美国鞋履设计与分销企业，总部位于加利福尼亚州戈利塔，由道格·奥托与卡尔·F·洛普克共同创立。公司旗下拥有UGG、Teva、Hoka等全球知名鞋履品牌，产品覆盖休闲、户外等多个领域，销往世界多地。
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。
DECK vs HRL — 直观对比
营收规模更大
HRL
是对方的1.6倍
$2.0B
营收增速更快
DECK
高出5.6%
1.5%
净利率更高
DECK
高出26.3%
-1.8%
自由现金流更多
DECK
多$788.8M
$231.4M
两年增速更快
DECK
近两年复合增速
3.1%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $3.2B |
| 净利润 | $481.1M | $-56.1M |
| 毛利率 | 59.8% | 14.0% |
| 营业利润率 | 31.4% | 0.1% |
| 净利率 | 24.6% | -1.8% |
| 营收同比 | 7.1% | 1.5% |
| 净利润同比 | 5.3% | -125.5% |
| 每股收益（稀释后） | $3.33 | $-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DECKHRL
| Q4 25 | $2.0B | $3.2B | ||
| Q3 25 | $1.4B | $3.0B | ||
| Q2 25 | $964.5M | $2.9B | ||
| Q1 25 | $1.0B | $3.0B | ||
| Q4 24 | $1.8B | $3.1B | ||
| Q3 24 | $1.3B | $2.9B | ||
| Q2 24 | $825.3M | $2.9B | ||
| Q1 24 | $959.8M | $3.0B |
净利润DECKHRL
| Q4 25 | $481.1M | $-56.1M | ||
| Q3 25 | $268.2M | $183.7M | ||
| Q2 25 | $139.2M | $180.0M | ||
| Q1 25 | $151.4M | $170.6M | ||
| Q4 24 | $456.7M | $220.2M | ||
| Q3 24 | $242.3M | $176.7M | ||
| Q2 24 | $115.6M | $189.3M | ||
| Q1 24 | $127.5M | $218.9M |
毛利率DECKHRL
| Q4 25 | 59.8% | 14.0% | ||
| Q3 25 | 56.2% | 16.1% | ||
| Q2 25 | 55.8% | 16.7% | ||
| Q1 25 | 56.7% | 15.9% | ||
| Q4 24 | 60.3% | 16.6% | ||
| Q3 24 | 55.9% | 16.8% | ||
| Q2 24 | 56.9% | 17.4% | ||
| Q1 24 | 56.2% | 17.0% |
营业利润率DECKHRL
| Q4 25 | 31.4% | 0.1% | ||
| Q3 25 | 22.8% | 7.9% | ||
| Q2 25 | 17.1% | 8.6% | ||
| Q1 25 | 17.0% | 7.6% | ||
| Q4 24 | 31.0% | 9.4% | ||
| Q3 24 | 23.3% | 8.2% | ||
| Q2 24 | 16.1% | 8.7% | ||
| Q1 24 | 15.0% | 9.5% |
净利率DECKHRL
| Q4 25 | 24.6% | -1.8% | ||
| Q3 25 | 18.7% | 6.1% | ||
| Q2 25 | 14.4% | 6.2% | ||
| Q1 25 | 14.8% | 5.7% | ||
| Q4 24 | 25.0% | 7.0% | ||
| Q3 24 | 18.5% | 6.1% | ||
| Q2 24 | 14.0% | 6.6% | ||
| Q1 24 | 13.3% | 7.3% |
每股收益（稀释后）DECKHRL
| Q4 25 | $3.33 | $-0.10 | ||
| Q3 25 | $1.82 | $0.33 | ||
| Q2 25 | $0.93 | $0.33 | ||
| Q1 25 | $-2.78 | $0.31 | ||
| Q4 24 | $3.00 | $0.41 | ||
| Q3 24 | $1.59 | $0.32 | ||
| Q2 24 | $4.52 | $0.34 | ||
| Q1 24 | $4.82 | $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 | $2.1B | $703.6M |
| 总债务越低越好 | — | $2.9B |
| 股东权益账面价值 | $2.6B | $7.9B |
| 总资产 | $4.1B | $13.4B |
| 负债/权益比越低杠杆越低 | — | 0.36× |
8季度趋势，按日历期对齐
现金及短期投资DECKHRL
| Q4 25 | $2.1B | $703.6M | ||
| Q3 25 | $1.4B | $630.7M | ||
| Q2 25 | $1.7B | $699.0M | ||
| Q1 25 | $1.9B | $866.4M | ||
| Q4 24 | $2.2B | $766.6M | ||
| Q3 24 | $1.2B | $561.9M | ||
| Q2 24 | $1.4B | $1.5B | ||
| Q1 24 | $1.5B | $981.9M |
总债务DECKHRL
| Q4 25 | — | $2.9B | ||
| Q3 25 | — | $2.9B | ||
| Q2 25 | — | $2.9B | ||
| Q1 25 | — | $2.9B | ||
| Q4 24 | — | $2.9B | ||
| Q3 24 | — | $2.9B | ||
| Q2 24 | — | $2.9B | ||
| Q1 24 | — | $2.4B |
股东权益DECKHRL
| Q4 25 | $2.6B | $7.9B | ||
| Q3 25 | $2.5B | $8.1B | ||
| Q2 25 | $2.5B | $8.0B | ||
| Q1 25 | $2.5B | $8.0B | ||
| Q4 24 | $2.6B | $8.0B | ||
| Q3 24 | $2.2B | $7.9B | ||
| Q2 24 | $2.1B | $7.9B | ||
| Q1 24 | $2.1B | $7.8B |
总资产DECKHRL
| Q4 25 | $4.1B | $13.4B | ||
| Q3 25 | $3.8B | $13.5B | ||
| Q2 25 | $3.8B | $13.4B | ||
| Q1 25 | $3.6B | $13.4B | ||
| Q4 24 | $4.0B | $13.4B | ||
| Q3 24 | $3.4B | $13.1B | ||
| Q2 24 | $3.3B | $14.1B | ||
| Q1 24 | $3.1B | $13.5B |
负债/权益比DECKHRL
| Q4 25 | — | 0.36× | ||
| Q3 25 | — | 0.35× | ||
| Q2 25 | — | 0.35× | ||
| Q1 25 | — | 0.36× | ||
| Q4 24 | — | 0.36× | ||
| Q3 24 | — | 0.36× | ||
| Q2 24 | — | 0.36× | ||
| Q1 24 | — | 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 | $1.0B | $322.9M |
| 自由现金流经营现金流 - 资本支出 | $1.0B | $231.4M |
| 自由现金流率自由现金流/营收 | 52.1% | 7.3% |
| 资本支出强度资本支出/营收 | 1.1% | 2.9% |
| 现金转化率经营现金流/净利润 | 2.17× | — |
| 过去12个月自由现金流最近4个季度 | $929.1M | $534.3M |
8季度趋势，按日历期对齐
经营现金流DECKHRL
| Q4 25 | $1.0B | $322.9M | ||
| Q3 25 | $8.1M | $156.7M | ||
| Q2 25 | $36.1M | $56.4M | ||
| Q1 25 | $-73.0M | $309.2M | ||
| Q4 24 | $1.1B | $408.6M | ||
| Q3 24 | $-90.5M | $218.0M | ||
| Q2 24 | $112.7M | $236.1M | ||
| Q1 24 | $-28.7M | $404.0M |
自由现金流DECKHRL
| Q4 25 | $1.0B | $231.4M | ||
| Q3 25 | $-13.9M | $84.5M | ||
| Q2 25 | $12.2M | $-18.6M | ||
| Q1 25 | $-89.4M | $237.0M | ||
| Q4 24 | $1.1B | $324.8M | ||
| Q3 24 | $-113.4M | $152.5M | ||
| Q2 24 | $90.1M | $176.2M | ||
| Q1 24 | $-44.0M | $356.8M |
自由现金流率DECKHRL
| Q4 25 | 52.1% | 7.3% | ||
| Q3 25 | -1.0% | 2.8% | ||
| Q2 25 | 1.3% | -0.6% | ||
| Q1 25 | -8.8% | 7.9% | ||
| Q4 24 | 58.6% | 10.4% | ||
| Q3 24 | -8.6% | 5.3% | ||
| Q2 24 | 10.9% | 6.1% | ||
| Q1 24 | -4.6% | 11.9% |
资本支出强度DECKHRL
| Q4 25 | 1.1% | 2.9% | ||
| Q3 25 | 1.5% | 2.4% | ||
| Q2 25 | 2.5% | 2.6% | ||
| Q1 25 | 1.6% | 2.4% | ||
| Q4 24 | 1.3% | 2.7% | ||
| Q3 24 | 1.7% | 2.3% | ||
| Q2 24 | 2.7% | 2.1% | ||
| Q1 24 | 1.6% | 1.6% |
现金转化率DECKHRL
| Q4 25 | 2.17× | — | ||
| Q3 25 | 0.03× | 0.85× | ||
| Q2 25 | 0.26× | 0.31× | ||
| Q1 25 | -0.48× | 1.81× | ||
| Q4 24 | 2.40× | 1.86× | ||
| Q3 24 | -0.37× | 1.23× | ||
| Q2 24 | 0.97× | 1.25× | ||
| Q1 24 | -0.22× | 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
DECK
| UGG Brand Segment | $1.3B | 67% |
| Hoka Brand Segment | $628.9M | 32% |
| Other Brands Segment | $23.2M | 1% |
HRL
| Retail Segment | $1.9B | 60% |
| Foodservice Segment | $1.1B | 34% |
| Other | $174.7M | 5% |
