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艾默生（EMR）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
艾默生的季度营收约是荷美尔食品的1.4倍（$4.3B vs $3.2B），艾默生净利率更高（13.9% vs -1.8%，领先15.7%），艾默生同比增速更快（4.1% vs 1.5%），艾默生自由现金流更多（$602.0M vs $231.4M），过去两年荷美尔食品的营收复合增速更高（3.1% vs -0.3%）
艾默生是总部位于美国密苏里州圣路易斯的世界500强跨国企业，业务涵盖工业自动化设备、暖通控制系统、精密测量仪器的研发制造，同时面向工业、商业、消费级市场提供工程服务及对应软件工程解决方案。
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。
EMR vs HRL — 直观对比
营收规模更大
EMR
是对方的1.4倍
$3.2B
营收增速更快
EMR
高出2.6%
1.5%
净利率更高
EMR
高出15.7%
-1.8%
自由现金流更多
EMR
多$370.6M
$231.4M
两年增速更快
HRL
近两年复合增速
-0.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.3B | $3.2B |
| 净利润 | $605.0M | $-56.1M |
| 毛利率 | 53.2% | 14.0% |
| 营业利润率 | 17.8% | 0.1% |
| 净利率 | 13.9% | -1.8% |
| 营收同比 | 4.1% | 1.5% |
| 净利润同比 | 3.4% | -125.5% |
| 每股收益（稀释后） | $1.07 | $-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EMRHRL
| Q4 25 | $4.3B | $3.2B | ||
| Q3 25 | $4.9B | $3.0B | ||
| Q2 25 | $4.6B | $2.9B | ||
| Q1 25 | $4.4B | $3.0B | ||
| Q4 24 | $4.2B | $3.1B | ||
| Q3 24 | $4.6B | $2.9B | ||
| Q2 24 | $4.4B | $2.9B | ||
| Q1 24 | $4.4B | $3.0B |
净利润EMRHRL
| Q4 25 | $605.0M | $-56.1M | ||
| Q3 25 | $637.0M | $183.7M | ||
| Q2 25 | $586.0M | $180.0M | ||
| Q1 25 | $485.0M | $170.6M | ||
| Q4 24 | $585.0M | $220.2M | ||
| Q3 24 | $996.0M | $176.7M | ||
| Q2 24 | $329.0M | $189.3M | ||
| Q1 24 | $501.0M | $218.9M |
毛利率EMRHRL
| Q4 25 | 53.2% | 14.0% | ||
| Q3 25 | 51.9% | 16.1% | ||
| Q2 25 | 52.6% | 16.7% | ||
| Q1 25 | 53.5% | 15.9% | ||
| Q4 24 | 53.5% | 16.6% | ||
| Q3 24 | 51.3% | 16.8% | ||
| Q2 24 | 52.8% | 17.4% | ||
| Q1 24 | 52.2% | 17.0% |
营业利润率EMRHRL
| Q4 25 | 17.8% | 0.1% | ||
| Q3 25 | 16.4% | 7.9% | ||
| Q2 25 | 16.1% | 8.6% | ||
| Q1 25 | 14.2% | 7.6% | ||
| Q4 24 | 18.6% | 9.4% | ||
| Q3 24 | 14.7% | 8.2% | ||
| Q2 24 | 10.4% | 8.7% | ||
| Q1 24 | 16.2% | 9.5% |
净利率EMRHRL
| Q4 25 | 13.9% | -1.8% | ||
| Q3 25 | 13.1% | 6.1% | ||
| Q2 25 | 12.9% | 6.2% | ||
| Q1 25 | 10.9% | 5.7% | ||
| Q4 24 | 14.0% | 7.0% | ||
| Q3 24 | 21.6% | 6.1% | ||
| Q2 24 | 7.5% | 6.6% | ||
| Q1 24 | 11.4% | 7.3% |
每股收益（稀释后）EMRHRL
| Q4 25 | $1.07 | $-0.10 | ||
| Q3 25 | $1.12 | $0.33 | ||
| Q2 25 | $1.04 | $0.33 | ||
| Q1 25 | $0.86 | $0.31 | ||
| Q4 24 | $1.02 | $0.41 | ||
| Q3 24 | $1.74 | $0.32 | ||
| Q2 24 | $0.57 | $0.34 | ||
| Q1 24 | $0.87 | $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 | — | $703.6M |
| 总债务越低越好 | $7.6B | $2.9B |
| 股东权益账面价值 | $20.3B | $7.9B |
| 总资产 | $41.9B | $13.4B |
| 负债/权益比越低杠杆越低 | 0.37× | 0.36× |
8季度趋势，按日历期对齐
现金及短期投资EMRHRL
| Q4 25 | — | $703.6M | ||
| Q3 25 | — | $630.7M | ||
| Q2 25 | — | $699.0M | ||
| Q1 25 | — | $866.4M | ||
| Q4 24 | — | $766.6M | ||
| Q3 24 | — | $561.9M | ||
| Q2 24 | — | $1.5B | ||
| Q1 24 | — | $981.9M |
总债务EMRHRL
| Q4 25 | $7.6B | $2.9B | ||
| Q3 25 | $8.9B | $2.9B | ||
| Q2 25 | $8.3B | $2.9B | ||
| Q1 25 | $8.2B | $2.9B | ||
| Q4 24 | $6.6B | $2.9B | ||
| Q3 24 | $7.7B | $2.9B | ||
| Q2 24 | $7.1B | $2.9B | ||
| Q1 24 | $7.6B | $2.4B |
股东权益EMRHRL
| Q4 25 | $20.3B | $7.9B | ||
| Q3 25 | $20.3B | $8.1B | ||
| Q2 25 | $19.9B | $8.0B | ||
| Q1 25 | $19.2B | $8.0B | ||
| Q4 24 | $20.5B | $8.0B | ||
| Q3 24 | $21.6B | $7.9B | ||
| Q2 24 | $20.8B | $7.9B | ||
| Q1 24 | $20.9B | $7.8B |
总资产EMRHRL
| Q4 25 | $41.9B | $13.4B | ||
| Q3 25 | $42.0B | $13.5B | ||
| Q2 25 | $42.5B | $13.4B | ||
| Q1 25 | $42.0B | $13.4B | ||
| Q4 24 | $42.6B | $13.4B | ||
| Q3 24 | $44.2B | $13.1B | ||
| Q2 24 | $45.6B | $14.1B | ||
| Q1 24 | $46.4B | $13.5B |
负债/权益比EMRHRL
| Q4 25 | 0.37× | 0.36× | ||
| Q3 25 | 0.44× | 0.35× | ||
| Q2 25 | 0.42× | 0.35× | ||
| Q1 25 | 0.42× | 0.36× | ||
| Q4 24 | 0.32× | 0.36× | ||
| Q3 24 | 0.36× | 0.36× | ||
| Q2 24 | 0.34× | 0.36× | ||
| Q1 24 | 0.36× | 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 | $699.0M | $322.9M |
| 自由现金流经营现金流 - 资本支出 | $602.0M | $231.4M |
| 自由现金流率自由现金流/营收 | 13.9% | 7.3% |
| 资本支出强度资本支出/营收 | 2.2% | 2.9% |
| 现金转化率经营现金流/净利润 | 1.16× | — |
| 过去12个月自由现金流最近4个季度 | $4.4B | $534.3M |
8季度趋势，按日历期对齐
经营现金流EMRHRL
| Q4 25 | $699.0M | $322.9M | ||
| Q3 25 | $3.1B | $156.7M | ||
| Q2 25 | $1.1B | $56.4M | ||
| Q1 25 | $241.0M | $309.2M | ||
| Q4 24 | $777.0M | $408.6M | ||
| Q3 24 | $3.3B | $218.0M | ||
| Q2 24 | $1.1B | $236.1M | ||
| Q1 24 | $743.0M | $404.0M |
自由现金流EMRHRL
| Q4 25 | $602.0M | $231.4M | ||
| Q3 25 | $2.7B | $84.5M | ||
| Q2 25 | $977.0M | $-18.6M | ||
| Q1 25 | $154.0M | $237.0M | ||
| Q4 24 | $694.0M | $324.8M | ||
| Q3 24 | $2.9B | $152.5M | ||
| Q2 24 | $998.0M | $176.2M | ||
| Q1 24 | $661.0M | $356.8M |
自由现金流率EMRHRL
| Q4 25 | 13.9% | 7.3% | ||
| Q3 25 | 54.9% | 2.8% | ||
| Q2 25 | 21.5% | -0.6% | ||
| Q1 25 | 3.5% | 7.9% | ||
| Q4 24 | 16.6% | 10.4% | ||
| Q3 24 | 63.1% | 5.3% | ||
| Q2 24 | 22.8% | 6.1% | ||
| Q1 24 | 15.1% | 11.9% |
资本支出强度EMRHRL
| Q4 25 | 2.2% | 2.9% | ||
| Q3 25 | 8.9% | 2.4% | ||
| Q2 25 | 2.0% | 2.6% | ||
| Q1 25 | 2.0% | 2.4% | ||
| Q4 24 | 2.0% | 2.7% | ||
| Q3 24 | 9.1% | 2.3% | ||
| Q2 24 | 2.1% | 2.1% | ||
| Q1 24 | 1.9% | 1.6% |
现金转化率EMRHRL
| Q4 25 | 1.16× | — | ||
| Q3 25 | 4.86× | 0.85× | ||
| Q2 25 | 1.83× | 0.31× | ||
| Q1 25 | 0.50× | 1.81× | ||
| Q4 24 | 1.33× | 1.86× | ||
| Q3 24 | 3.35× | 1.23× | ||
| Q2 24 | 3.31× | 1.25× | ||
| Q1 24 | 1.48× | 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
EMR
| Other | $1.8B | 41% |
| Software And Systems | $1.0B | 24% |
| Intelligent Devices | $996.0M | 23% |
| Safety And Productivity | $503.0M | 12% |
HRL
| Retail Segment | $1.9B | 60% |
| Foodservice Segment | $1.1B | 34% |
| Other | $174.7M | 5% |
