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伊士曼化工（EMN）与Ulta Beauty（ULTA）财务数据对比。点击上方公司名可切换其他公司
Ulta Beauty的季度营收约是伊士曼化工的1.4倍（$2.9B vs $2.0B），Ulta Beauty净利率更高（8.1% vs 5.3%，领先2.8%），Ulta Beauty同比增速更快（12.9% vs -13.8%），过去两年Ulta Beauty的营收复合增速更高（7.2% vs -8.6%）
伊士曼化工是总部位于美国田纳西州金斯波特的全球特种材料企业，前身为柯达子公司，1920年成立，1994年独立运营。公司在全球拥有36个生产基地、约1.4万名员工，生产各类先进材料、化学品和纤维产品，广泛应用于日常生活领域，2023年销售额约92.1亿美元。
Ulta Beauty是美国头部美妆连锁品牌，总部位于伊利诺伊州博林布鲁克，旗下门店在售商品覆盖高低端彩妆、香水、美甲、身体护理、美发产品及美妆工具等全品类美妆个护产品，每家门店均配备对外开放的美容沙龙，为消费者提供一站式美妆消费及服务体验。
EMN vs ULTA — 直观对比
营收规模更大
ULTA
是对方的1.4倍
$2.0B
营收增速更快
ULTA
高出26.8%
-13.8%
净利率更高
ULTA
高出2.8%
5.3%
两年增速更快
ULTA
近两年复合增速
-8.6%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $2.9B |
| 净利润 | $105.0M | $230.9M |
| 毛利率 | 17.1% | 40.4% |
| 营业利润率 | — | 10.8% |
| 净利率 | 5.3% | 8.1% |
| 营收同比 | -13.8% | 12.9% |
| 净利润同比 | -42.3% | -4.7% |
| 每股收益（稀释后） | $0.93 | $5.14 |
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EMNULTA
| Q1 26 | $2.0B | — | ||
| Q4 25 | $2.0B | $2.9B | ||
| Q3 25 | $2.2B | $2.8B | ||
| Q2 25 | $2.3B | $2.8B | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | $2.2B | $2.5B | ||
| Q3 24 | $2.5B | $2.6B | ||
| Q2 24 | $2.4B | $2.7B |
净利润EMNULTA
| Q1 26 | $105.0M | — | ||
| Q4 25 | $105.0M | $230.9M | ||
| Q3 25 | $47.0M | $260.9M | ||
| Q2 25 | $140.0M | $305.1M | ||
| Q1 25 | $182.0M | — | ||
| Q4 24 | $330.0M | $242.2M | ||
| Q3 24 | $180.0M | $252.6M | ||
| Q2 24 | $230.0M | $313.1M |
毛利率EMNULTA
| Q1 26 | 17.1% | — | ||
| Q4 25 | 17.1% | 40.4% | ||
| Q3 25 | 19.7% | 39.2% | ||
| Q2 25 | 22.1% | 39.1% | ||
| Q1 25 | 24.8% | — | ||
| Q4 24 | 24.7% | 39.7% | ||
| Q3 24 | 24.6% | 38.3% | ||
| Q2 24 | 25.3% | 39.2% |
营业利润率EMNULTA
| Q1 26 | — | — | ||
| Q4 25 | 0.6% | 10.8% | ||
| Q3 25 | 6.1% | 12.4% | ||
| Q2 25 | 7.4% | 14.1% | ||
| Q1 25 | 11.0% | — | ||
| Q4 24 | 13.2% | 12.6% | ||
| Q3 24 | 11.4% | 12.9% | ||
| Q2 24 | 12.1% | 14.7% |
净利率EMNULTA
| Q1 26 | 5.3% | — | ||
| Q4 25 | 5.3% | 8.1% | ||
| Q3 25 | 2.1% | 9.4% | ||
| Q2 25 | 6.1% | 10.7% | ||
| Q1 25 | 7.9% | — | ||
| Q4 24 | 14.7% | 9.6% | ||
| Q3 24 | 7.3% | 9.9% | ||
| Q2 24 | 9.7% | 11.5% |
每股收益（稀释后）EMNULTA
| Q1 26 | $0.93 | — | ||
| Q4 25 | $0.93 | $5.14 | ||
| Q3 25 | $0.40 | $5.78 | ||
| Q2 25 | $1.20 | $6.70 | ||
| Q1 25 | $1.57 | — | ||
| Q4 24 | $2.81 | $5.14 | ||
| Q3 24 | $1.53 | $5.30 | ||
| Q2 24 | $1.94 | $6.47 |
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 | $566.0M | $204.9M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $6.0B | $2.6B |
| 总资产 | $14.9B | $7.0B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资EMNULTA
| Q1 26 | $566.0M | — | ||
| Q4 25 | $566.0M | $204.9M | ||
| Q3 25 | — | $242.7M | ||
| Q2 25 | — | $454.6M | ||
| Q1 25 | — | — | ||
| Q4 24 | $837.0M | $177.8M | ||
| Q3 24 | — | $414.0M | ||
| Q2 24 | — | $524.6M |
股东权益EMNULTA
| Q1 26 | $6.0B | — | ||
| Q4 25 | $6.0B | $2.6B | ||
| Q3 25 | $5.8B | $2.6B | ||
| Q2 25 | $5.8B | $2.4B | ||
| Q1 25 | $5.9B | — | ||
| Q4 24 | $5.8B | $2.3B | ||
| Q3 24 | $5.7B | $2.3B | ||
| Q2 24 | $5.6B | $2.3B |
总资产EMNULTA
| Q1 26 | $14.9B | — | ||
| Q4 25 | $14.9B | $7.0B | ||
| Q3 25 | $15.0B | $6.6B | ||
| Q2 25 | $15.2B | $6.0B | ||
| Q1 25 | $15.0B | — | ||
| Q4 24 | $15.2B | $6.0B | ||
| Q3 24 | $15.1B | $5.7B | ||
| Q2 24 | $14.9B | $5.6B |
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 | — | $5.6M |
| 自由现金流经营现金流 - 资本支出 | — | $-81.6M |
| 自由现金流率自由现金流/营收 | — | -2.9% |
| 资本支出强度资本支出/营收 | — | 3.1% |
| 现金转化率经营现金流/净利润 | — | 0.02× |
| 过去12个月自由现金流最近4个季度 | — | $-92.2M |
8季度趋势，按日历期对齐
经营现金流EMNULTA
| Q1 26 | — | — | ||
| Q4 25 | $502.0M | $5.6M | ||
| Q3 25 | $402.0M | $96.5M | ||
| Q2 25 | $233.0M | $220.0M | ||
| Q1 25 | $-167.0M | — | ||
| Q4 24 | $540.0M | $-56.8M | ||
| Q3 24 | $396.0M | $199.5M | ||
| Q2 24 | $367.0M | $159.3M |
自由现金流EMNULTA
| Q1 26 | — | — | ||
| Q4 25 | $390.0M | $-81.6M | ||
| Q3 25 | $265.0M | $19.6M | ||
| Q2 25 | $83.0M | $141.0M | ||
| Q1 25 | $-314.0M | — | ||
| Q4 24 | $361.0M | $-171.1M | ||
| Q3 24 | $276.0M | $104.3M | ||
| Q2 24 | $252.0M | $68.3M |
自由现金流率EMNULTA
| Q1 26 | — | — | ||
| Q4 25 | 19.8% | -2.9% | ||
| Q3 25 | 12.0% | 0.7% | ||
| Q2 25 | 3.6% | 4.9% | ||
| Q1 25 | -13.7% | — | ||
| Q4 24 | 16.1% | -6.8% | ||
| Q3 24 | 11.2% | 4.1% | ||
| Q2 24 | 10.7% | 2.5% |
资本支出强度EMNULTA
| Q1 26 | — | — | ||
| Q4 25 | 5.7% | 3.1% | ||
| Q3 25 | 6.2% | 2.8% | ||
| Q2 25 | 6.6% | 2.8% | ||
| Q1 25 | 6.4% | — | ||
| Q4 24 | 8.0% | 4.5% | ||
| Q3 24 | 4.9% | 3.7% | ||
| Q2 24 | 4.9% | 3.3% |
现金转化率EMNULTA
| Q1 26 | — | — | ||
| Q4 25 | 4.78× | 0.02× | ||
| Q3 25 | 8.55× | 0.37× | ||
| Q2 25 | 1.66× | 0.72× | ||
| Q1 25 | -0.92× | — | ||
| Q4 24 | 1.64× | -0.23× | ||
| Q3 24 | 2.20× | 0.79× | ||
| Q2 24 | 1.60× | 0.51× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
