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FRIEDMAN INDUSTRIES INC（FRD）与HAVERTY FURNITURE COMPANIES INC（HVT）财务数据对比。点击上方公司名可切换其他公司
HAVERTY FURNITURE COMPANIES INC的季度营收约是FRIEDMAN INDUSTRIES INC的1.2倍（$201.9M vs $168.0M），HAVERTY FURNITURE COMPANIES INC净利率更高（4.2% vs 1.8%，领先2.4%），FRIEDMAN INDUSTRIES INC同比增速更快（78.6% vs 9.5%），HAVERTY FURNITURE COMPANIES INC自由现金流更多（$3.0M vs $-6.3M），过去两年FRIEDMAN INDUSTRIES INC的营收复合增速更高（13.3% vs 4.8%）
赫尔曼与弗里德曼（H&F）是一家美国私募股权公司，由沃伦·赫尔曼与塔利·弗里德曼于1984年创立，主要通过杠杆收购及成长资本开展投资业务，核心投资方向覆盖传媒、金融服务、专业服务与信息服务等多个领域。
该企业原名为国际鞋业公司，1911年由两家鞋企合并成立于美国密苏里州克莱顿，后开展多元化业务并逐步退出制鞋领域，最终更名为家具品牌国际，是美国家居行业知名企业，曾拥有布罗伊希尔等多个知名家具品牌。
FRD vs HVT — 直观对比
营收规模更大
HVT
是对方的1.2倍
$168.0M
营收增速更快
FRD
高出69.0%
9.5%
净利率更高
HVT
高出2.4%
1.8%
自由现金流更多
HVT
多$9.3M
$-6.3M
两年增速更快
FRD
近两年复合增速
4.8%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $168.0M | $201.9M |
| 净利润 | $3.0M | $8.5M |
| 毛利率 | 2.3% | 60.4% |
| 营业利润率 | 2.3% | 5.3% |
| 净利率 | 1.8% | 4.2% |
| 营收同比 | 78.6% | 9.5% |
| 净利润同比 | 364.1% | 4.1% |
| 每股收益（稀释后） | $0.43 | — |
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FRDHVT
| Q4 25 | $168.0M | $201.9M | ||
| Q3 25 | $152.4M | $194.5M | ||
| Q2 25 | $134.8M | $181.0M | ||
| Q1 25 | — | $181.6M | ||
| Q4 24 | $94.1M | $184.4M | ||
| Q3 24 | $106.8M | $175.9M | ||
| Q2 24 | $114.6M | $178.6M | ||
| Q1 24 | — | $184.0M |
净利润FRDHVT
| Q4 25 | $3.0M | $8.5M | ||
| Q3 25 | $2.2M | $4.7M | ||
| Q2 25 | $5.0M | $2.7M | ||
| Q1 25 | — | $3.8M | ||
| Q4 24 | $-1.2M | $8.2M | ||
| Q3 24 | $-675.0K | $4.9M | ||
| Q2 24 | $2.6M | $4.4M | ||
| Q1 24 | — | $2.4M |
毛利率FRDHVT
| Q4 25 | 2.3% | 60.4% | ||
| Q3 25 | 1.9% | 60.3% | ||
| Q2 25 | 5.2% | 60.8% | ||
| Q1 25 | — | 61.2% | ||
| Q4 24 | — | 61.9% | ||
| Q3 24 | -0.2% | 60.2% | ||
| Q2 24 | -1.2% | 60.4% | ||
| Q1 24 | — | 60.3% |
营业利润率FRDHVT
| Q4 25 | 2.3% | 5.3% | ||
| Q3 25 | 1.9% | 3.3% | ||
| Q2 25 | 5.2% | 2.4% | ||
| Q1 25 | — | 2.9% | ||
| Q4 24 | -1.3% | 5.2% | ||
| Q3 24 | -0.2% | 3.9% | ||
| Q2 24 | -1.2% | 3.6% | ||
| Q1 24 | — | 1.7% |
净利率FRDHVT
| Q4 25 | 1.8% | 4.2% | ||
| Q3 25 | 1.5% | 2.4% | ||
| Q2 25 | 3.7% | 1.5% | ||
| Q1 25 | — | 2.1% | ||
| Q4 24 | -1.2% | 4.4% | ||
| Q3 24 | -0.6% | 2.8% | ||
| Q2 24 | 2.2% | 2.5% | ||
| Q1 24 | — | 1.3% |
每股收益（稀释后）FRDHVT
| Q4 25 | $0.43 | — | ||
| Q3 25 | $0.32 | — | ||
| Q2 25 | $0.71 | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $-0.17 | — | ||
| Q3 24 | $-0.10 | — | ||
| Q2 24 | $0.37 | — | ||
| Q1 24 | — | — |
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 | $3.0M | $125.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $142.2M | $307.9M |
| 总资产 | $311.9M | $649.1M |
| 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FRDHVT
| Q4 25 | $3.0M | $125.3M | ||
| Q3 25 | $4.6M | $130.5M | ||
| Q2 25 | $2.1M | $107.4M | ||
| Q1 25 | — | $111.9M | ||
| Q4 24 | $1.1M | $120.0M | ||
| Q3 24 | $2.5M | $121.2M | ||
| Q2 24 | $4.1M | $109.9M | ||
| Q1 24 | — | $111.8M |
股东权益FRDHVT
| Q4 25 | $142.2M | $307.9M | ||
| Q3 25 | $139.3M | $306.0M | ||
| Q2 25 | $137.3M | $304.9M | ||
| Q1 25 | — | $305.4M | ||
| Q4 24 | $127.3M | $307.6M | ||
| Q3 24 | $128.8M | $307.8M | ||
| Q2 24 | $129.7M | $307.1M | ||
| Q1 24 | — | $306.7M |
总资产FRDHVT
| Q4 25 | $311.9M | $649.1M | ||
| Q3 25 | $311.3M | $651.7M | ||
| Q2 25 | $219.1M | $642.7M | ||
| Q1 25 | — | $642.7M | ||
| Q4 24 | $210.3M | $648.7M | ||
| Q3 24 | $209.2M | $659.3M | ||
| Q2 24 | $222.8M | $642.1M | ||
| Q1 24 | — | $640.5M |
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 | $-4.7M | $7.4M |
| 自由现金流经营现金流 - 资本支出 | $-6.3M | $3.0M |
| 自由现金流率自由现金流/营收 | -3.8% | 1.5% |
| 资本支出强度资本支出/营收 | 1.0% | 2.2% |
| 现金转化率经营现金流/净利润 | -1.56× | 0.86× |
| 过去12个月自由现金流最近4个季度 | — | $33.0M |
8季度趋势，按日历期对齐
经营现金流FRDHVT
| Q4 25 | $-4.7M | $7.4M | ||
| Q3 25 | $434.0K | $31.9M | ||
| Q2 25 | $15.5M | $7.2M | ||
| Q1 25 | — | $6.2M | ||
| Q4 24 | — | $16.9M | ||
| Q3 24 | — | $24.4M | ||
| Q2 24 | $-6.1M | $14.4M | ||
| Q1 24 | — | $3.1M |
自由现金流FRDHVT
| Q4 25 | $-6.3M | $3.0M | ||
| Q3 25 | $-2.0M | $28.3M | ||
| Q2 25 | $13.7M | $1.6M | ||
| Q1 25 | — | $27.0K | ||
| Q4 24 | — | $9.1M | ||
| Q3 24 | — | $16.1M | ||
| Q2 24 | $-7.1M | $4.9M | ||
| Q1 24 | — | $-3.3M |
自由现金流率FRDHVT
| Q4 25 | -3.8% | 1.5% | ||
| Q3 25 | -1.3% | 14.6% | ||
| Q2 25 | 10.2% | 0.9% | ||
| Q1 25 | — | 0.0% | ||
| Q4 24 | — | 4.9% | ||
| Q3 24 | — | 9.2% | ||
| Q2 24 | -6.2% | 2.7% | ||
| Q1 24 | — | -1.8% |
资本支出强度FRDHVT
| Q4 25 | 1.0% | 2.2% | ||
| Q3 25 | 1.6% | 1.8% | ||
| Q2 25 | 1.3% | 3.1% | ||
| Q1 25 | — | 3.4% | ||
| Q4 24 | — | 4.2% | ||
| Q3 24 | — | 4.7% | ||
| Q2 24 | 0.9% | 5.3% | ||
| Q1 24 | — | 3.5% |
现金转化率FRDHVT
| Q4 25 | -1.56× | 0.86× | ||
| Q3 25 | 0.19× | 6.75× | ||
| Q2 25 | 3.08× | 2.69× | ||
| Q1 25 | — | 1.63× | ||
| Q4 24 | — | 2.06× | ||
| Q3 24 | — | 4.96× | ||
| Q2 24 | -2.36× | 3.25× | ||
| Q1 24 | — | 1.31× |
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
FRD
| Prime Coil | $152.0M | 90% |
| Manufactured Pipe | $14.9M | 9% |
| Customer Owned | $1.1M | 1% |
HVT
| Upholstery | $91.0M | 45% |
| Bedroom Furniture | $29.2M | 14% |
| Accessories And Other | $28.4M | 14% |
| Dining Room Furniture | $22.8M | 11% |
| Mattresses | $16.1M | 8% |
| Occasional | $14.4M | 7% |
