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Dorman Products, Inc.（DORM）与Gentherm Inc（THRM）财务数据对比。点击上方公司名可切换其他公司
Dorman Products, Inc.的季度营收约是Gentherm Inc的1.4倍（$537.9M vs $382.8M），Dorman Products, Inc.净利率更高（2.1% vs 0.8%，领先1.4%），Gentherm Inc同比增速更快（8.5% vs 0.8%），Dorman Products, Inc.自由现金流更多（$33.5M vs $6.7M），过去两年Dorman Products, Inc.的营收复合增速更高（7.1% vs 3.7%）
多尔曼产品公司是美国知名的汽车售后配件制造商，成立于1918年，总部位于宾夕法尼亚州科尔马，在纳斯达克上市，股票代码为DORM，深耕汽车售后市场多年，为市场提供丰富的替换零部件产品。
金瑟公司（原阿梅里贡）是一家美国热管理技术企业，为汽车行业研发出了全球首款热电调温座椅系统——气候控制座椅系统。该系统于1999年率先被福特汽车采纳，作为选装配置搭载在2000款林肯领航员上，如今已应用于福特、通用、丰田（雷克萨斯）、起亚、现代、日产（英菲尼迪）等车企的50余款车型。
DORM vs THRM — 直观对比
营收规模更大
DORM
是对方的1.4倍
$382.8M
营收增速更快
THRM
高出7.7%
0.8%
净利率更高
DORM
高出1.4%
0.8%
自由现金流更多
DORM
多$26.8M
$6.7M
两年增速更快
DORM
近两年复合增速
3.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $537.9M | $382.8M |
| 净利润 | $11.6M | $3.0M |
| 毛利率 | 42.6% | 23.7% |
| 营业利润率 | 5.8% | 4.6% |
| 净利率 | 2.1% | 0.8% |
| 营收同比 | 0.8% | 8.5% |
| 净利润同比 | -78.8% | -80.5% |
| 每股收益（稀释后） | $0.38 | $0.08 |
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DORMTHRM
| Q4 25 | $537.9M | $382.8M | ||
| Q3 25 | $543.7M | $386.9M | ||
| Q2 25 | $541.0M | $375.1M | ||
| Q1 25 | $507.7M | $353.9M | ||
| Q4 24 | $533.8M | $352.9M | ||
| Q3 24 | $503.8M | $371.5M | ||
| Q2 24 | $503.0M | $375.7M | ||
| Q1 24 | $468.7M | $356.0M |
净利润DORMTHRM
| Q4 25 | $11.6M | $3.0M | ||
| Q3 25 | $76.4M | $14.9M | ||
| Q2 25 | $58.7M | $477.0K | ||
| Q1 25 | $57.5M | $-128.0K | ||
| Q4 24 | $54.5M | $15.3M | ||
| Q3 24 | $55.3M | $16.0M | ||
| Q2 24 | $47.4M | $18.9M | ||
| Q1 24 | $32.8M | $14.8M |
毛利率DORMTHRM
| Q4 25 | 42.6% | 23.7% | ||
| Q3 25 | 44.4% | 24.6% | ||
| Q2 25 | 40.6% | 23.9% | ||
| Q1 25 | 40.9% | 24.4% | ||
| Q4 24 | 41.5% | 24.4% | ||
| Q3 24 | 40.5% | 25.5% | ||
| Q2 24 | 39.6% | 25.7% | ||
| Q1 24 | 38.7% | 24.9% |
营业利润率DORMTHRM
| Q4 25 | 5.8% | 4.6% | ||
| Q3 25 | 19.4% | 6.2% | ||
| Q2 25 | 15.2% | 6.4% | ||
| Q1 25 | 15.8% | 4.8% | ||
| Q4 24 | 16.3% | 6.7% | ||
| Q3 24 | 15.7% | 8.7% | ||
| Q2 24 | 14.4% | 8.8% | ||
| Q1 24 | 11.6% | 5.1% |
净利率DORMTHRM
| Q4 25 | 2.1% | 0.8% | ||
| Q3 25 | 14.1% | 3.9% | ||
| Q2 25 | 10.9% | 0.1% | ||
| Q1 25 | 11.3% | -0.0% | ||
| Q4 24 | 10.2% | 4.3% | ||
| Q3 24 | 11.0% | 4.3% | ||
| Q2 24 | 9.4% | 5.0% | ||
| Q1 24 | 7.0% | 4.2% |
每股收益（稀释后）DORMTHRM
| Q4 25 | $0.38 | $0.08 | ||
| Q3 25 | $2.48 | $0.49 | ||
| Q2 25 | $1.91 | $0.02 | ||
| Q1 25 | $1.87 | $0.00 | ||
| Q4 24 | $1.76 | $0.48 | ||
| Q3 24 | $1.80 | $0.51 | ||
| Q2 24 | $1.53 | $0.60 | ||
| Q1 24 | $1.05 | $0.47 |
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 | $49.4M | $160.8M |
| 总债务越低越好 | $440.6M | $189.0M |
| 股东权益账面价值 | $1.5B | $720.3M |
| 总资产 | $2.5B | $1.4B |
| 负债/权益比越低杠杆越低 | 0.30× | 0.26× |
8季度趋势，按日历期对齐
现金及短期投资DORMTHRM
| Q4 25 | $49.4M | $160.8M | ||
| Q3 25 | $55.5M | $154.3M | ||
| Q2 25 | $56.8M | $128.3M | ||
| Q1 25 | $60.6M | $163.1M | ||
| Q4 24 | $57.1M | $134.1M | ||
| Q3 24 | $45.1M | $150.6M | ||
| Q2 24 | $47.5M | $123.5M | ||
| Q1 24 | $34.4M | $125.1M |
总债务DORMTHRM
| Q4 25 | $440.6M | $189.0M | ||
| Q3 25 | — | $189.0M | ||
| Q2 25 | — | $209.0M | ||
| Q1 25 | — | $262.0M | ||
| Q4 24 | $468.8M | $220.1M | ||
| Q3 24 | — | $222.1M | ||
| Q2 24 | — | $222.1M | ||
| Q1 24 | — | $222.2M |
股东权益DORMTHRM
| Q4 25 | $1.5B | $720.3M | ||
| Q3 25 | $1.5B | $717.9M | ||
| Q2 25 | $1.4B | $699.7M | ||
| Q1 25 | $1.3B | $646.5M | ||
| Q4 24 | $1.3B | $616.9M | ||
| Q3 24 | $1.2B | $660.7M | ||
| Q2 24 | $1.2B | $640.3M | ||
| Q1 24 | $1.2B | $647.1M |
总资产DORMTHRM
| Q4 25 | $2.5B | $1.4B | ||
| Q3 25 | $2.6B | $1.4B | ||
| Q2 25 | $2.5B | $1.4B | ||
| Q1 25 | $2.4B | $1.3B | ||
| Q4 24 | $2.4B | $1.2B | ||
| Q3 24 | $2.4B | $1.3B | ||
| Q2 24 | $2.3B | $1.2B | ||
| Q1 24 | $2.2B | $1.3B |
负债/权益比DORMTHRM
| Q4 25 | 0.30× | 0.26× | ||
| Q3 25 | — | 0.26× | ||
| Q2 25 | — | 0.30× | ||
| Q1 25 | — | 0.41× | ||
| Q4 24 | 0.36× | 0.36× | ||
| Q3 24 | — | 0.34× | ||
| Q2 24 | — | 0.35× | ||
| Q1 24 | — | 0.34× |
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 | $41.6M | $29.0M |
| 自由现金流经营现金流 - 资本支出 | $33.5M | $6.7M |
| 自由现金流率自由现金流/营收 | 6.2% | 1.7% |
| 资本支出强度资本支出/营收 | 1.5% | 5.8% |
| 现金转化率经营现金流/净利润 | 3.60× | 9.70× |
| 过去12个月自由现金流最近4个季度 | $75.7M | $61.1M |
8季度趋势，按日历期对齐
经营现金流DORMTHRM
| Q4 25 | $41.6M | $29.0M | ||
| Q3 25 | $12.2M | $56.1M | ||
| Q2 25 | $8.5M | $45.0M | ||
| Q1 25 | $51.2M | $-13.3M | ||
| Q4 24 | $71.4M | $36.6M | ||
| Q3 24 | $44.3M | $46.3M | ||
| Q2 24 | $63.3M | $37.1M | ||
| Q1 24 | $52.0M | $-10.3M |
自由现金流DORMTHRM
| Q4 25 | $33.5M | $6.7M | ||
| Q3 25 | $1.8M | $46.5M | ||
| Q2 25 | $98.0K | $36.2M | ||
| Q1 25 | $40.3M | $-28.2M | ||
| Q4 24 | $63.2M | $13.6M | ||
| Q3 24 | $35.7M | $26.6M | ||
| Q2 24 | $51.4M | $17.8M | ||
| Q1 24 | $41.2M | $-21.6M |
自由现金流率DORMTHRM
| Q4 25 | 6.2% | 1.7% | ||
| Q3 25 | 0.3% | 12.0% | ||
| Q2 25 | 0.0% | 9.6% | ||
| Q1 25 | 7.9% | -8.0% | ||
| Q4 24 | 11.8% | 3.9% | ||
| Q3 24 | 7.1% | 7.2% | ||
| Q2 24 | 10.2% | 4.7% | ||
| Q1 24 | 8.8% | -6.1% |
资本支出强度DORMTHRM
| Q4 25 | 1.5% | 5.8% | ||
| Q3 25 | 1.9% | 2.5% | ||
| Q2 25 | 1.6% | 2.4% | ||
| Q1 25 | 2.2% | 4.2% | ||
| Q4 24 | 1.5% | 6.5% | ||
| Q3 24 | 1.7% | 5.3% | ||
| Q2 24 | 2.4% | 5.2% | ||
| Q1 24 | 2.3% | 3.2% |
现金转化率DORMTHRM
| Q4 25 | 3.60× | 9.70× | ||
| Q3 25 | 0.16× | 3.75× | ||
| Q2 25 | 0.15× | 94.43× | ||
| Q1 25 | 0.89× | — | ||
| Q4 24 | 1.31× | 2.39× | ||
| Q3 24 | 0.80× | 2.90× | ||
| Q2 24 | 1.34× | 1.97× | ||
| Q1 24 | 1.58× | -0.70× |
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
DORM
| Light Duty | $428.6M | 80% |
| Heavy Duty | $55.8M | 10% |
| Specialty Vehicle | $53.5M | 10% |
THRM
| Climate Control Seats | $200.9M | 52% |
| Lumbar And Massage Comfort Solutions | $58.5M | 15% |
| Climate Control Interiors | $50.3M | 13% |
| Other Automotive | $27.6M | 7% |
| Valve Systems | $24.1M | 6% |
| Medical Segments | $13.9M | 4% |
| Climate And Comfort Electronics | $7.4M | 2% |
