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自由港麦克莫兰（FCX）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
自由港麦克莫兰的季度营收约是荷美尔食品的1.7倍（$5.3B vs $3.2B），自由港麦克莫兰净利率更高（10.7% vs -1.8%，领先12.5%），荷美尔食品同比增速更快（1.5% vs -10.4%），荷美尔食品自由现金流更多（$231.4M vs $-312.0M），过去两年荷美尔食品的营收复合增速更高（3.1% vs -7.9%）
自由港麦克莫兰是总部位于美国亚利桑那州凤凰城的矿业企业，是全球最大的钼生产商、主要铜生产商之一，运营着坐落于印度尼西亚巴布亚省的世界最大金矿格拉斯伯格矿。
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。
FCX vs HRL — 直观对比
营收规模更大
FCX
是对方的1.7倍
$3.2B
营收增速更快
HRL
高出11.9%
-10.4%
净利率更高
FCX
高出12.5%
-1.8%
自由现金流更多
HRL
多$543.4M
$-312.0M
两年增速更快
HRL
近两年复合增速
-7.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $5.3B | $3.2B |
| 净利润 | $565.0M | $-56.1M |
| 毛利率 | 12.4% | 14.0% |
| 营业利润率 | 15.4% | 0.1% |
| 净利率 | 10.7% | -1.8% |
| 营收同比 | -10.4% | 1.5% |
| 净利润同比 | -21.6% | -125.5% |
| 每股收益（稀释后） | — | $-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FCXHRL
| Q4 25 | $5.3B | $3.2B | ||
| Q3 25 | $6.8B | $3.0B | ||
| Q2 25 | $7.5B | $2.9B | ||
| Q1 25 | $5.6B | $3.0B | ||
| Q4 24 | $5.9B | $3.1B | ||
| Q3 24 | $6.7B | $2.9B | ||
| Q2 24 | $6.4B | $2.9B | ||
| Q1 24 | $6.2B | $3.0B |
净利润FCXHRL
| Q4 25 | $565.0M | $-56.1M | ||
| Q3 25 | $1.2B | $183.7M | ||
| Q2 25 | $1.5B | $180.0M | ||
| Q1 25 | $793.0M | $170.6M | ||
| Q4 24 | $721.0M | $220.2M | ||
| Q3 24 | $1.2B | $176.7M | ||
| Q2 24 | $1.3B | $189.3M | ||
| Q1 24 | $1.2B | $218.9M |
毛利率FCXHRL
| Q4 25 | 12.4% | 14.0% | ||
| Q3 25 | 29.2% | 16.1% | ||
| Q2 25 | 34.2% | 16.7% | ||
| Q1 25 | 24.3% | 15.9% | ||
| Q4 24 | 27.0% | 16.6% | ||
| Q3 24 | 30.0% | 16.8% | ||
| Q2 24 | 31.5% | 17.4% | ||
| Q1 24 | 28.5% | 17.0% |
营业利润率FCXHRL
| Q4 25 | 15.4% | 0.1% | ||
| Q3 25 | 28.9% | 7.9% | ||
| Q2 25 | 32.3% | 8.6% | ||
| Q1 25 | 23.4% | 7.6% | ||
| Q4 24 | 21.1% | 9.4% | ||
| Q3 24 | 29.0% | 8.2% | ||
| Q2 24 | 32.0% | 8.7% | ||
| Q1 24 | 26.3% | 9.5% |
净利率FCXHRL
| Q4 25 | 10.7% | -1.8% | ||
| Q3 25 | 18.3% | 6.1% | ||
| Q2 25 | 20.6% | 6.2% | ||
| Q1 25 | 14.2% | 5.7% | ||
| Q4 24 | 12.3% | 7.0% | ||
| Q3 24 | 18.5% | 6.1% | ||
| Q2 24 | 20.0% | 6.6% | ||
| Q1 24 | 18.7% | 7.3% |
每股收益（稀释后）FCXHRL
| Q4 25 | — | $-0.10 | ||
| Q3 25 | $0.46 | $0.33 | ||
| Q2 25 | $0.53 | $0.33 | ||
| Q1 25 | $0.24 | $0.31 | ||
| Q4 24 | — | $0.41 | ||
| Q3 24 | $0.36 | $0.32 | ||
| Q2 24 | $0.42 | $0.34 | ||
| Q1 24 | $0.32 | $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 | $3.8B | $703.6M |
| 总债务越低越好 | $9.4B | $2.9B |
| 股东权益账面价值 | $18.9B | $7.9B |
| 总资产 | $58.2B | $13.4B |
| 负债/权益比越低杠杆越低 | 0.50× | 0.36× |
8季度趋势，按日历期对齐
现金及短期投资FCXHRL
| Q4 25 | $3.8B | $703.6M | ||
| Q3 25 | $4.3B | $630.7M | ||
| Q2 25 | $4.5B | $699.0M | ||
| Q1 25 | $4.4B | $866.4M | ||
| Q4 24 | $3.9B | $766.6M | ||
| Q3 24 | $5.0B | $561.9M | ||
| Q2 24 | $5.3B | $1.5B | ||
| Q1 24 | $5.2B | $981.9M |
总债务FCXHRL
| Q4 25 | $9.4B | $2.9B | ||
| Q3 25 | — | $2.9B | ||
| Q2 25 | — | $2.9B | ||
| Q1 25 | $9.4B | $2.9B | ||
| Q4 24 | $8.9B | $2.9B | ||
| Q3 24 | $9.7B | $2.9B | ||
| Q2 24 | $9.4B | $2.9B | ||
| Q1 24 | $9.4B | $2.4B |
股东权益FCXHRL
| Q4 25 | $18.9B | $7.9B | ||
| Q3 25 | $18.7B | $8.1B | ||
| Q2 25 | $18.2B | $8.0B | ||
| Q1 25 | $17.7B | $8.0B | ||
| Q4 24 | $17.6B | $8.0B | ||
| Q3 24 | $17.5B | $7.9B | ||
| Q2 24 | $17.4B | $7.9B | ||
| Q1 24 | $17.0B | $7.8B |
总资产FCXHRL
| Q4 25 | $58.2B | $13.4B | ||
| Q3 25 | $56.8B | $13.5B | ||
| Q2 25 | $56.5B | $13.4B | ||
| Q1 25 | $56.0B | $13.4B | ||
| Q4 24 | $54.8B | $13.4B | ||
| Q3 24 | $55.4B | $13.1B | ||
| Q2 24 | $54.6B | $14.1B | ||
| Q1 24 | $54.2B | $13.5B |
负债/权益比FCXHRL
| Q4 25 | 0.50× | 0.36× | ||
| Q3 25 | — | 0.35× | ||
| Q2 25 | — | 0.35× | ||
| Q1 25 | 0.53× | 0.36× | ||
| Q4 24 | 0.51× | 0.36× | ||
| Q3 24 | 0.55× | 0.36× | ||
| Q2 24 | 0.54× | 0.36× | ||
| Q1 24 | 0.56× | 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 | $693.0M | $322.9M |
| 自由现金流经营现金流 - 资本支出 | $-312.0M | $231.4M |
| 自由现金流率自由现金流/营收 | -5.9% | 7.3% |
| 资本支出强度资本支出/营收 | 19.1% | 2.9% |
| 现金转化率经营现金流/净利润 | 1.23× | — |
| 过去12个月自由现金流最近4个季度 | $1.1B | $534.3M |
8季度趋势，按日历期对齐
经营现金流FCXHRL
| Q4 25 | $693.0M | $322.9M | ||
| Q3 25 | $1.7B | $156.7M | ||
| Q2 25 | $2.2B | $56.4M | ||
| Q1 25 | $1.1B | $309.2M | ||
| Q4 24 | $1.4B | $408.6M | ||
| Q3 24 | $1.9B | $218.0M | ||
| Q2 24 | $2.0B | $236.1M | ||
| Q1 24 | $1.9B | $404.0M |
自由现金流FCXHRL
| Q4 25 | $-312.0M | $231.4M | ||
| Q3 25 | $608.0M | $84.5M | ||
| Q2 25 | $934.0M | $-18.6M | ||
| Q1 25 | $-114.0M | $237.0M | ||
| Q4 24 | $197.0M | $324.8M | ||
| Q3 24 | $673.0M | $152.5M | ||
| Q2 24 | $840.0M | $176.2M | ||
| Q1 24 | $642.0M | $356.8M |
自由现金流率FCXHRL
| Q4 25 | -5.9% | 7.3% | ||
| Q3 25 | 8.9% | 2.8% | ||
| Q2 25 | 12.4% | -0.6% | ||
| Q1 25 | -2.0% | 7.9% | ||
| Q4 24 | 3.4% | 10.4% | ||
| Q3 24 | 10.1% | 5.3% | ||
| Q2 24 | 13.1% | 6.1% | ||
| Q1 24 | 10.3% | 11.9% |
资本支出强度FCXHRL
| Q4 25 | 19.1% | 2.9% | ||
| Q3 25 | 15.5% | 2.4% | ||
| Q2 25 | 16.8% | 2.6% | ||
| Q1 25 | 21.0% | 2.4% | ||
| Q4 24 | 21.1% | 2.7% | ||
| Q3 24 | 17.9% | 2.3% | ||
| Q2 24 | 17.4% | 2.1% | ||
| Q1 24 | 20.2% | 1.6% |
现金转化率FCXHRL
| Q4 25 | 1.23× | — | ||
| Q3 25 | 1.33× | 0.85× | ||
| Q2 25 | 1.42× | 0.31× | ||
| Q1 25 | 1.33× | 1.81× | ||
| Q4 24 | 1.99× | 1.86× | ||
| Q3 24 | 1.51× | 1.23× | ||
| Q2 24 | 1.53× | 1.25× | ||
| Q1 24 | 1.63× | 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
FCX
| Morenci | $2.5B | 47% |
| Grasberg Segment | $964.0M | 18% |
| Copper In Concentrates | $934.0M | 18% |
| Molybdenum | $541.0M | 10% |
| Gold | $388.0M | 7% |
HRL
| Retail Segment | $1.9B | 60% |
| Foodservice Segment | $1.1B | 34% |
| Other | $174.7M | 5% |
