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COMFORT SYSTEMS USA INC（FIX）与希悦尔（SEE）财务数据对比。点击上方公司名可切换其他公司
COMFORT SYSTEMS USA INC的季度营收约是希悦尔的1.9倍（$2.6B vs $1.4B），COMFORT SYSTEMS USA INC净利率更高（12.5% vs 3.1%，领先9.4%），COMFORT SYSTEMS USA INC同比增速更快（41.7% vs 2.6%），COMFORT SYSTEMS USA INC自由现金流更多（$402.4M vs $257.7M），过去两年COMFORT SYSTEMS USA INC的营收复合增速更高（31.2% vs 2.7%）
Comfort Systems USA Inc.是一家美国企业，主营机电工程承包服务，核心业务覆盖暖通空调、给排水、管道工程、控制系统、场外预制建造、监测服务、消防系统，以及电气系统的安装与运维，为各类客户提供一体化机电设施解决方案。
希悦尔是全球领先的包装与防护解决方案供应商，核心产品包括缓冲防护材料、食品保鲜包装、可持续减废包装系统，服务覆盖电商、零售、食品饮料、工业制造等多个海内外领域。
FIX vs SEE — 直观对比
营收规模更大
FIX
是对方的1.9倍
$1.4B
营收增速更快
FIX
高出39.1%
2.6%
净利率更高
FIX
高出9.4%
3.1%
自由现金流更多
FIX
多$144.8M
$257.7M
两年增速更快
FIX
近两年复合增速
2.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.6B | $1.4B |
| 净利润 | $330.8M | $43.8M |
| 毛利率 | 25.5% | 28.6% |
| 营业利润率 | 16.1% | 11.4% |
| 净利率 | 12.5% | 3.1% |
| 营收同比 | 41.7% | 2.6% |
| 净利润同比 | 126.8% | 700.0% |
| 每股收益（稀释后） | $9.35 | $0.30 |
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FIXSEE
| Q4 25 | $2.6B | $1.4B | ||
| Q3 25 | $2.5B | $1.3B | ||
| Q2 25 | $2.2B | $1.3B | ||
| Q1 25 | $1.8B | $1.3B | ||
| Q4 24 | $1.9B | $1.4B | ||
| Q3 24 | $1.8B | $1.3B | ||
| Q2 24 | $1.8B | $1.3B | ||
| Q1 24 | $1.5B | $1.3B |
净利润FIXSEE
| Q4 25 | $330.8M | $43.8M | ||
| Q3 25 | $291.6M | $255.1M | ||
| Q2 25 | $230.8M | $93.1M | ||
| Q1 25 | $169.3M | $113.5M | ||
| Q4 24 | $145.9M | $-7.3M | ||
| Q3 24 | $146.2M | $91.7M | ||
| Q2 24 | $134.0M | $98.3M | ||
| Q1 24 | $96.3M | $82.0M |
毛利率FIXSEE
| Q4 25 | 25.5% | 28.6% | ||
| Q3 25 | 24.8% | 29.8% | ||
| Q2 25 | 23.5% | 30.7% | ||
| Q1 25 | 22.0% | 30.9% | ||
| Q4 24 | 23.2% | 30.0% | ||
| Q3 24 | 21.1% | 30.1% | ||
| Q2 24 | 20.1% | 31.2% | ||
| Q1 24 | 19.3% | 30.3% |
营业利润率FIXSEE
| Q4 25 | 16.1% | 11.4% | ||
| Q3 25 | 15.5% | 13.8% | ||
| Q2 25 | 13.8% | 15.0% | ||
| Q1 25 | 11.4% | 14.5% | ||
| Q4 24 | 12.1% | 11.7% | ||
| Q3 24 | 11.2% | 13.9% | ||
| Q2 24 | 10.2% | 15.4% | ||
| Q1 24 | 8.8% | 14.0% |
净利率FIXSEE
| Q4 25 | 12.5% | 3.1% | ||
| Q3 25 | 11.9% | 19.0% | ||
| Q2 25 | 10.6% | 7.0% | ||
| Q1 25 | 9.2% | 9.0% | ||
| Q4 24 | 7.8% | -0.5% | ||
| Q3 24 | 8.1% | 6.9% | ||
| Q2 24 | 7.4% | 7.4% | ||
| Q1 24 | 6.3% | 6.2% |
每股收益（稀释后）FIXSEE
| Q4 25 | $9.35 | $0.30 | ||
| Q3 25 | $8.25 | $1.73 | ||
| Q2 25 | $6.53 | $0.63 | ||
| Q1 25 | $4.75 | $0.77 | ||
| Q4 24 | $4.08 | $-0.05 | ||
| Q3 24 | $4.09 | $0.63 | ||
| Q2 24 | $3.74 | $0.67 | ||
| Q1 24 | $2.69 | $0.56 |
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 | $981.9M | $344.0M |
| 总债务越低越好 | $145.2M | $3.3B |
| 股东权益账面价值 | $2.4B | $1.2B |
| 总资产 | $6.4B | $7.0B |
| 负债/权益比越低杠杆越低 | 0.06× | 2.65× |
8季度趋势，按日历期对齐
现金及短期投资FIXSEE
| Q4 25 | $981.9M | $344.0M | ||
| Q3 25 | $860.5M | $282.5M | ||
| Q2 25 | $331.7M | $354.4M | ||
| Q1 25 | $204.8M | $335.2M | ||
| Q4 24 | $549.9M | $371.8M | ||
| Q3 24 | $415.6M | $386.0M | ||
| Q2 24 | $199.4M | $388.6M | ||
| Q1 24 | $100.8M | $352.8M |
总债务FIXSEE
| Q4 25 | $145.2M | $3.3B | ||
| Q3 25 | $136.0M | $4.0B | ||
| Q2 25 | $73.0M | $4.0B | ||
| Q1 25 | $67.8M | $4.2B | ||
| Q4 24 | $68.3M | $4.2B | ||
| Q3 24 | $62.3M | $4.3B | ||
| Q2 24 | $73.4M | $4.4B | ||
| Q1 24 | $77.0M | $4.5B |
股东权益FIXSEE
| Q4 25 | $2.4B | $1.2B | ||
| Q3 25 | $2.2B | $1.2B | ||
| Q2 25 | $2.0B | $953.1M | ||
| Q1 25 | $1.8B | $797.9M | ||
| Q4 24 | $1.7B | $624.5M | ||
| Q3 24 | $1.6B | $771.2M | ||
| Q2 24 | $1.5B | $650.1M | ||
| Q1 24 | $1.4B | $598.3M |
总资产FIXSEE
| Q4 25 | $6.4B | $7.0B | ||
| Q3 25 | $5.8B | $7.1B | ||
| Q2 25 | $5.1B | $7.2B | ||
| Q1 25 | $4.6B | $7.0B | ||
| Q4 24 | $4.7B | $7.0B | ||
| Q3 24 | $4.4B | $7.3B | ||
| Q2 24 | $4.2B | $7.3B | ||
| Q1 24 | $3.9B | $7.2B |
负债/权益比FIXSEE
| Q4 25 | 0.06× | 2.65× | ||
| Q3 25 | 0.06× | 3.34× | ||
| Q2 25 | 0.04× | 4.18× | ||
| Q1 25 | 0.04× | 5.26× | ||
| Q4 24 | 0.04× | 6.72× | ||
| Q3 24 | 0.04× | 5.62× | ||
| Q2 24 | 0.05× | 6.81× | ||
| Q1 24 | 0.06× | 7.49× |
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 | $468.5M | $293.6M |
| 自由现金流经营现金流 - 资本支出 | $402.4M | $257.7M |
| 自由现金流率自由现金流/营收 | 15.2% | 18.5% |
| 资本支出强度资本支出/营收 | 2.5% | 2.6% |
| 现金转化率经营现金流/净利润 | 1.42× | 6.70× |
| 过去12个月自由现金流最近4个季度 | $1.0B | $458.5M |
8季度趋势，按日历期对齐
经营现金流FIXSEE
| Q4 25 | $468.5M | $293.6M | ||
| Q3 25 | $553.3M | $165.9M | ||
| Q2 25 | $252.5M | $136.6M | ||
| Q1 25 | $-88.0M | $31.9M | ||
| Q4 24 | $210.5M | $244.2M | ||
| Q3 24 | $302.2M | $170.5M | ||
| Q2 24 | $189.9M | $188.2M | ||
| Q1 24 | $146.6M | $125.1M |
自由现金流FIXSEE
| Q4 25 | $402.4M | $257.7M | ||
| Q3 25 | $517.9M | $119.6M | ||
| Q2 25 | $221.2M | $93.2M | ||
| Q1 25 | $-110.2M | $-12.0M | ||
| Q4 24 | $169.8M | $185.1M | ||
| Q3 24 | $280.1M | $115.2M | ||
| Q2 24 | $166.5M | $129.5M | ||
| Q1 24 | $121.6M | $78.0M |
自由现金流率FIXSEE
| Q4 25 | 15.2% | 18.5% | ||
| Q3 25 | 21.1% | 8.9% | ||
| Q2 25 | 10.2% | 7.0% | ||
| Q1 25 | -6.0% | -0.9% | ||
| Q4 24 | 9.1% | 13.6% | ||
| Q3 24 | 15.5% | 8.6% | ||
| Q2 24 | 9.2% | 9.7% | ||
| Q1 24 | 7.9% | 5.9% |
资本支出强度FIXSEE
| Q4 25 | 2.5% | 2.6% | ||
| Q3 25 | 1.4% | 3.4% | ||
| Q2 25 | 1.4% | 3.3% | ||
| Q1 25 | 1.2% | 3.5% | ||
| Q4 24 | 2.2% | 4.4% | ||
| Q3 24 | 1.2% | 4.1% | ||
| Q2 24 | 1.3% | 4.4% | ||
| Q1 24 | 1.6% | 3.6% |
现金转化率FIXSEE
| Q4 25 | 1.42× | 6.70× | ||
| Q3 25 | 1.90× | 0.65× | ||
| Q2 25 | 1.09× | 1.47× | ||
| Q1 25 | -0.52× | 0.28× | ||
| Q4 24 | 1.44× | — | ||
| Q3 24 | 2.07× | 1.86× | ||
| Q2 24 | 1.42× | 1.91× | ||
| Q1 24 | 1.52× | 1.53× |
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
FIX
| Electrical Segment | $823.7M | 31% |
| Manufacturing Customer | $542.7M | 21% |
| Existing Building Construction | $491.4M | 19% |
| Healthcare Sector Customer | $220.8M | 8% |
| Service Projects | $153.0M | 6% |
| Education | $137.5M | 5% |
| Government Customer | $131.0M | 5% |
| Office Building Customer | $88.2M | 3% |
| Other Customer | $40.7M | 2% |
| Multi Family And Residential | $33.7M | 1% |
SEE
| Protective Segment | $1.1B | 78% |
| Other | $292.0M | 21% |
| Pension Plans Defined Benefit | $7.9M | 1% |
