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自由港麦克莫兰（FCX）与好时（HSY）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好时的1.7倍（$5.3B vs $3.1B），自由港麦克莫兰净利率更高（10.7% vs 10.4%，领先0.4%），好时同比增速更快（7.0% vs -10.4%），好时自由现金流更多（$788.5M vs $-312.0M），过去两年好时的营收复合增速更高（-2.5% 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。
好时公司是总部位于美国宾夕法尼亚州好时镇的跨国糖果企业，也是全球最大的巧克力生产商之一，由米尔顿·S·好时于1894年创立。公司除核心巧克力产品外，还生产饼干、蛋糕等烘焙食品，同时销售奶昔等多类饮品，产品覆盖多个食品品类。
FCX vs HSY — 直观对比
营收规模更大
FCX
是对方的1.7倍
$3.1B
营收增速更快
HSY
高出17.5%
-10.4%
净利率更高
FCX
高出0.4%
10.4%
自由现金流更多
HSY
多$1.1B
$-312.0M
两年增速更快
HSY
近两年复合增速
-7.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $5.3B | $3.1B |
| 净利润 | $565.0M | $320.0M |
| 毛利率 | 12.4% | 37.0% |
| 营业利润率 | 15.4% | 14.4% |
| 净利率 | 10.7% | 10.4% |
| 营收同比 | -10.4% | 7.0% |
| 净利润同比 | -21.6% | -59.8% |
| 每股收益（稀释后） | — | — |
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FCXHSY
| Q4 25 | $5.3B | $3.1B | ||
| Q3 25 | $6.8B | $3.2B | ||
| Q2 25 | $7.5B | $2.6B | ||
| Q1 25 | $5.6B | $2.8B | ||
| Q4 24 | $5.9B | $2.9B | ||
| Q3 24 | $6.7B | $3.0B | ||
| Q2 24 | $6.4B | $2.1B | ||
| Q1 24 | $6.2B | $3.3B |
净利润FCXHSY
| Q4 25 | $565.0M | $320.0M | ||
| Q3 25 | $1.2B | $276.3M | ||
| Q2 25 | $1.5B | $62.7M | ||
| Q1 25 | $793.0M | $224.2M | ||
| Q4 24 | $721.0M | $796.6M | ||
| Q3 24 | $1.2B | $446.3M | ||
| Q2 24 | $1.3B | $180.9M | ||
| Q1 24 | $1.2B | $797.5M |
毛利率FCXHSY
| Q4 25 | 12.4% | 37.0% | ||
| Q3 25 | 29.2% | 32.6% | ||
| Q2 25 | 34.2% | 30.5% | ||
| Q1 25 | 24.3% | 33.7% | ||
| Q4 24 | 27.0% | 54.0% | ||
| Q3 24 | 30.0% | 41.3% | ||
| Q2 24 | 31.5% | 40.2% | ||
| Q1 24 | 28.5% | 51.5% |
营业利润率FCXHSY
| Q4 25 | 15.4% | 14.4% | ||
| Q3 25 | 28.9% | 13.7% | ||
| Q2 25 | 32.3% | 7.4% | ||
| Q1 25 | 23.4% | 13.2% | ||
| Q4 24 | 21.1% | 32.5% | ||
| Q3 24 | 29.0% | 20.5% | ||
| Q2 24 | 32.0% | 13.9% | ||
| Q1 24 | 26.3% | 32.5% |
净利率FCXHSY
| Q4 25 | 10.7% | 10.4% | ||
| Q3 25 | 18.3% | 8.7% | ||
| Q2 25 | 20.6% | 2.4% | ||
| Q1 25 | 14.2% | 8.0% | ||
| Q4 24 | 12.3% | 27.6% | ||
| Q3 24 | 18.5% | 14.9% | ||
| Q2 24 | 20.0% | 8.7% | ||
| Q1 24 | 18.7% | 24.5% |
每股收益（稀释后）FCXHSY
| Q4 25 | — | — | ||
| Q3 25 | $0.46 | — | ||
| Q2 25 | $0.53 | — | ||
| Q1 25 | $0.24 | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $0.36 | — | ||
| Q2 24 | $0.42 | — | ||
| Q1 24 | $0.32 | — |
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 | — |
| 总债务越低越好 | $9.4B | $4.7B |
| 股东权益账面价值 | $18.9B | $4.6B |
| 总资产 | $58.2B | $13.7B |
| 负债/权益比越低杠杆越低 | 0.50× | 1.01× |
8季度趋势，按日历期对齐
现金及短期投资FCXHSY
| Q4 25 | $3.8B | — | ||
| Q3 25 | $4.3B | — | ||
| Q2 25 | $4.5B | — | ||
| Q1 25 | $4.4B | — | ||
| Q4 24 | $3.9B | — | ||
| Q3 24 | $5.0B | — | ||
| Q2 24 | $5.3B | — | ||
| Q1 24 | $5.2B | — |
总债务FCXHSY
| Q4 25 | $9.4B | $4.7B | ||
| Q3 25 | — | $4.7B | ||
| Q2 25 | — | $5.2B | ||
| Q1 25 | $9.4B | $5.2B | ||
| Q4 24 | $8.9B | $3.2B | ||
| Q3 24 | $9.7B | $3.2B | ||
| Q2 24 | $9.4B | $3.5B | ||
| Q1 24 | $9.4B | $3.8B |
股东权益FCXHSY
| Q4 25 | $18.9B | $4.6B | ||
| Q3 25 | $18.7B | $4.6B | ||
| Q2 25 | $18.2B | $4.5B | ||
| Q1 25 | $17.7B | $4.7B | ||
| Q4 24 | $17.6B | $4.7B | ||
| Q3 24 | $17.5B | $4.2B | ||
| Q2 24 | $17.4B | $4.0B | ||
| Q1 24 | $17.0B | $4.1B |
总资产FCXHSY
| Q4 25 | $58.2B | $13.7B | ||
| Q3 25 | $56.8B | $13.6B | ||
| Q2 25 | $56.5B | $13.6B | ||
| Q1 25 | $56.0B | $14.0B | ||
| Q4 24 | $54.8B | $12.9B | ||
| Q3 24 | $55.4B | $12.6B | ||
| Q2 24 | $54.6B | $12.4B | ||
| Q1 24 | $54.2B | $12.4B |
负债/权益比FCXHSY
| Q4 25 | 0.50× | 1.01× | ||
| Q3 25 | — | 1.02× | ||
| Q2 25 | — | 1.15× | ||
| Q1 25 | 0.53× | 1.11× | ||
| Q4 24 | 0.51× | 0.68× | ||
| Q3 24 | 0.55× | 0.76× | ||
| Q2 24 | 0.54× | 0.87× | ||
| Q1 24 | 0.56× | 0.92× |
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 | $926.6M |
| 自由现金流经营现金流 - 资本支出 | $-312.0M | $788.5M |
| 自由现金流率自由现金流/营收 | -5.9% | 25.5% |
| 资本支出强度资本支出/营收 | 19.1% | 4.5% |
| 现金转化率经营现金流/净利润 | 1.23× | 2.90× |
| 过去12个月自由现金流最近4个季度 | $1.1B | $1.8B |
8季度趋势，按日历期对齐
经营现金流FCXHSY
| Q4 25 | $693.0M | $926.6M | ||
| Q3 25 | $1.7B | $841.9M | ||
| Q2 25 | $2.2B | $112.2M | ||
| Q1 25 | $1.1B | $396.7M | ||
| Q4 24 | $1.4B | $941.6M | ||
| Q3 24 | $1.9B | $695.3M | ||
| Q2 24 | $2.0B | $325.6M | ||
| Q1 24 | $1.9B | $569.1M |
自由现金流FCXHSY
| Q4 25 | $-312.0M | $788.5M | ||
| Q3 25 | $608.0M | $756.0M | ||
| Q2 25 | $934.0M | $27.1M | ||
| Q1 25 | $-114.0M | $251.2M | ||
| Q4 24 | $197.0M | $807.1M | ||
| Q3 24 | $673.0M | $567.3M | ||
| Q2 24 | $840.0M | $195.5M | ||
| Q1 24 | $642.0M | $355.8M |
自由现金流率FCXHSY
| Q4 25 | -5.9% | 25.5% | ||
| Q3 25 | 8.9% | 23.8% | ||
| Q2 25 | 12.4% | 1.0% | ||
| Q1 25 | -2.0% | 9.0% | ||
| Q4 24 | 3.4% | 28.0% | ||
| Q3 24 | 10.1% | 19.0% | ||
| Q2 24 | 13.1% | 9.4% | ||
| Q1 24 | 10.3% | 10.9% |
资本支出强度FCXHSY
| Q4 25 | 19.1% | 4.5% | ||
| Q3 25 | 15.5% | 2.7% | ||
| Q2 25 | 16.8% | 3.3% | ||
| Q1 25 | 21.0% | 5.2% | ||
| Q4 24 | 21.1% | 4.7% | ||
| Q3 24 | 17.9% | 4.3% | ||
| Q2 24 | 17.4% | 6.3% | ||
| Q1 24 | 20.2% | 6.6% |
现金转化率FCXHSY
| Q4 25 | 1.23× | 2.90× | ||
| Q3 25 | 1.33× | 3.05× | ||
| Q2 25 | 1.42× | 1.79× | ||
| Q1 25 | 1.33× | 1.77× | ||
| Q4 24 | 1.99× | 1.18× | ||
| Q3 24 | 1.51× | 1.56× | ||
| Q2 24 | 1.53× | 1.80× | ||
| Q1 24 | 1.63× | 0.71× |
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% |
HSY
| Other | $1.8B | 59% |
| North America Salty Snacks Segment | $1.3B | 41% |
