vs
Krispy Kreme, Inc.（DNUT）与H2O AMERICA（HTO）财务数据对比。点击上方公司名可切换其他公司
Krispy Kreme, Inc.的季度营收约是H2O AMERICA的2.0倍（$392.4M vs $199.4M），H2O AMERICA净利率更高（8.1% vs -7.1%，领先15.2%），H2O AMERICA同比增速更快（1.5% vs -2.9%），过去两年H2O AMERICA的营收复合增速更高（15.3% vs -5.9%）
Krispy Kreme是源自美国的跨国甜甜圈烘焙与咖啡连锁品牌，1937年由弗农·鲁道夫在美国北卡罗来纳州温斯顿-塞勒姆创立。品牌创始时采用鲁道夫从新奥尔良厨师手中购得的酵母甜甜秘方配方开店，历经数十年稳步发展，如今已成为全球知名的甜甜圈休闲餐饮连锁品牌。
H2O Wireless是美国的预付费移动通信服务商，依托AT&T网络运营，隶属于MVNO（移动虚拟网络运营商）Locus通信，自2019年起Locus成为Telrite控股的子公司，此前2010年起曾是KDDI美国旗下资产。该品牌主打无限制套餐服务，支持用户自带或购买无锁智能手机入网，AT&T合约机/锁网机也可兼容使用。
DNUT vs HTO — 直观对比
营收规模更大
DNUT
是对方的2.0倍
$199.4M
营收增速更快
HTO
高出4.4%
-2.9%
净利率更高
HTO
高出15.2%
-7.1%
两年增速更快
HTO
近两年复合增速
-5.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $392.4M | $199.4M |
| 净利润 | $-27.8M | $16.2M |
| 毛利率 | — | — |
| 营业利润率 | -1.9% | 16.6% |
| 净利率 | -7.1% | 8.1% |
| 营收同比 | -2.9% | 1.5% |
| 净利润同比 | -23.8% | -29.2% |
| 每股收益（稀释后） | $-0.18 | $0.45 |
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DNUTHTO
| Q4 25 | $392.4M | $199.4M | ||
| Q3 25 | $375.3M | $243.5M | ||
| Q2 25 | $379.8M | $197.8M | ||
| Q1 25 | $375.2M | $164.9M | ||
| Q4 24 | $404.0M | $196.5M | ||
| Q3 24 | $379.9M | $216.7M | ||
| Q2 24 | $438.8M | $173.1M | ||
| Q1 24 | $442.7M | $150.0M |
净利润DNUTHTO
| Q4 25 | $-27.8M | $16.2M | ||
| Q3 25 | $-19.4M | $45.1M | ||
| Q2 25 | $-435.3M | $24.7M | ||
| Q1 25 | $-33.3M | $16.6M | ||
| Q4 24 | $-22.4M | $22.9M | ||
| Q3 24 | $39.6M | $38.7M | ||
| Q2 24 | $-5.5M | $20.7M | ||
| Q1 24 | $-8.5M | $11.7M |
营业利润率DNUTHTO
| Q4 25 | -1.9% | 16.6% | ||
| Q3 25 | -1.9% | 26.5% | ||
| Q2 25 | -114.4% | 22.2% | ||
| Q1 25 | -5.4% | 21.8% | ||
| Q4 24 | -2.8% | 22.2% | ||
| Q3 24 | -4.2% | 26.9% | ||
| Q2 24 | 1.6% | 23.4% | ||
| Q1 24 | 2.7% | 18.6% |
净利率DNUTHTO
| Q4 25 | -7.1% | 8.1% | ||
| Q3 25 | -5.2% | 18.5% | ||
| Q2 25 | -114.6% | 12.5% | ||
| Q1 25 | -8.9% | 10.0% | ||
| Q4 24 | -5.6% | 11.7% | ||
| Q3 24 | 10.4% | 17.8% | ||
| Q2 24 | -1.3% | 12.0% | ||
| Q1 24 | -1.9% | 7.8% |
每股收益（稀释后）DNUTHTO
| Q4 25 | $-0.18 | $0.45 | ||
| Q3 25 | $-0.11 | $1.27 | ||
| Q2 25 | $-2.55 | $0.71 | ||
| Q1 25 | $-0.20 | $0.49 | ||
| Q4 24 | $-0.13 | $0.70 | ||
| Q3 24 | $0.23 | $1.17 | ||
| Q2 24 | $-0.03 | $0.64 | ||
| Q1 24 | $-0.05 | $0.36 |
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 | $42.4M | $20.7M |
| 总债务越低越好 | $911.9M | $1.9B |
| 股东权益账面价值 | $650.1M | $1.5B |
| 总资产 | $2.6B | $5.1B |
| 负债/权益比越低杠杆越低 | 1.40× | 1.23× |
8季度趋势，按日历期对齐
现金及短期投资DNUTHTO
| Q4 25 | $42.4M | $20.7M | ||
| Q3 25 | $30.7M | $11.3M | ||
| Q2 25 | $21.3M | $19.8M | ||
| Q1 25 | $18.7M | $23.7M | ||
| Q4 24 | $29.0M | $11.1M | ||
| Q3 24 | $25.4M | $4.0M | ||
| Q2 24 | $28.6M | $22.8M | ||
| Q1 24 | $33.1M | $4.5M |
总债务DNUTHTO
| Q4 25 | $911.9M | $1.9B | ||
| Q3 25 | $906.2M | — | ||
| Q2 25 | $889.4M | — | ||
| Q1 25 | $935.0M | — | ||
| Q4 24 | $844.5M | $1.7B | ||
| Q3 24 | $804.6M | — | ||
| Q2 24 | $895.0M | — | ||
| Q1 24 | $881.8M | — |
股东权益DNUTHTO
| Q4 25 | $650.1M | $1.5B | ||
| Q3 25 | $670.3M | $1.5B | ||
| Q2 25 | $693.6M | $1.5B | ||
| Q1 25 | $1.1B | $1.4B | ||
| Q4 24 | $1.1B | $1.4B | ||
| Q3 24 | $1.2B | $1.3B | ||
| Q2 24 | $1.1B | $1.3B | ||
| Q1 24 | $1.2B | $1.2B |
总资产DNUTHTO
| Q4 25 | $2.6B | $5.1B | ||
| Q3 25 | $2.6B | $5.0B | ||
| Q2 25 | $2.6B | $4.8B | ||
| Q1 25 | $3.1B | $4.7B | ||
| Q4 24 | $3.1B | $4.7B | ||
| Q3 24 | $3.1B | $4.6B | ||
| Q2 24 | $3.2B | $4.4B | ||
| Q1 24 | $3.2B | $4.4B |
负债/权益比DNUTHTO
| Q4 25 | 1.40× | 1.23× | ||
| Q3 25 | 1.35× | — | ||
| Q2 25 | 1.28× | — | ||
| Q1 25 | 0.85× | — | ||
| Q4 24 | 0.74× | 1.26× | ||
| Q3 24 | 0.68× | — | ||
| Q2 24 | 0.79× | — | ||
| Q1 24 | 0.76× | — |
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 | $45.0M | $63.5M |
| 自由现金流经营现金流 - 资本支出 | $27.9M | — |
| 自由现金流率自由现金流/营收 | 7.1% | — |
| 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 | — | 3.92× |
| 过去12个月自由现金流最近4个季度 | $-64.0M | — |
8季度趋势，按日历期对齐
经营现金流DNUTHTO
| Q4 25 | $45.0M | $63.5M | ||
| Q3 25 | $42.3M | $77.3M | ||
| Q2 25 | $-32.5M | $60.8M | ||
| Q1 25 | $-20.8M | $43.2M | ||
| Q4 24 | $27.0M | $41.5M | ||
| Q3 24 | $3.3M | $53.5M | ||
| Q2 24 | $33.2M | $49.3M | ||
| Q1 24 | $-17.7M | $51.2M |
自由现金流DNUTHTO
| Q4 25 | $27.9M | — | ||
| Q3 25 | $15.5M | — | ||
| Q2 25 | $-60.8M | — | ||
| Q1 25 | $-46.7M | — | ||
| Q4 24 | $-6.9M | — | ||
| Q3 24 | $-22.9M | — | ||
| Q2 24 | $1.6M | — | ||
| Q1 24 | $-46.8M | — |
自由现金流率DNUTHTO
| Q4 25 | 7.1% | — | ||
| Q3 25 | 4.1% | — | ||
| Q2 25 | -16.0% | — | ||
| Q1 25 | -12.5% | — | ||
| Q4 24 | -1.7% | — | ||
| Q3 24 | -6.0% | — | ||
| Q2 24 | 0.4% | — | ||
| Q1 24 | -10.6% | — |
资本支出强度DNUTHTO
| Q4 25 | 4.4% | — | ||
| Q3 25 | 7.1% | — | ||
| Q2 25 | 7.4% | — | ||
| Q1 25 | 6.9% | — | ||
| Q4 24 | 8.4% | — | ||
| Q3 24 | 6.9% | — | ||
| Q2 24 | 7.2% | — | ||
| Q1 24 | 6.6% | — |
现金转化率DNUTHTO
| Q4 25 | — | 3.92× | ||
| Q3 25 | — | 1.71× | ||
| Q2 25 | — | 2.47× | ||
| Q1 25 | — | 2.61× | ||
| Q4 24 | — | 1.81× | ||
| Q3 24 | 0.08× | 1.39× | ||
| Q2 24 | — | 2.38× | ||
| Q1 24 | — | 4.38× |
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
DNUT
暂无分部数据
HTO
| Water Utility Services | $191.0M | 96% |
| Other | $8.4M | 4% |
