vs
FULLER H B CO（FUL）与格罗方德（GFS）财务数据对比。点击上方公司名可切换其他公司
格罗方德的季度营收约是FULLER H B CO的1.9倍（$1.7B vs $892.0M），格罗方德净利率更高（14.8% vs 7.5%，领先7.2%），FULLER H B CO同比增速更快（-2.8% vs -2.9%），过去两年FULLER H B CO的营收复合增速更高（5.0% vs -4.3%）
H.B.富勒公司是总部位于美国明尼苏达州圣保罗的跨国粘合剂制造企业，全球第四大粘合剂及密封剂生产商。公司拥有超过20000种产品，广泛应用于建筑、工程、电子、卫生用品、食品包装等领域，在26个国家设有81座生产基地，2024年员工规模约7500人。
格罗方德是跨国半导体代工及设计企业，注册地为开曼群岛，总部位于美国纽约州马耳他。公司2009年3月由AMD制造业务分拆成立，2021年10月完成首次公开募股，阿联酋主权财富基金穆巴达拉投资公司目前仍持有其82%的多数股权。
FUL vs GFS — 直观对比
营收规模更大
GFS
是对方的1.9倍
$892.0M
营收增速更快
FUL
高出0.1%
-2.9%
净利率更高
GFS
高出7.2%
7.5%
两年增速更快
FUL
近两年复合增速
-4.3%
损益表 — Q3 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $892.0M | $1.7B |
| 净利润 | $67.2M | $249.0M |
| 毛利率 | 32.0% | 24.8% |
| 营业利润率 | 12.3% | 11.6% |
| 净利率 | 7.5% | 14.8% |
| 营收同比 | -2.8% | -2.9% |
| 净利润同比 | 21.3% | 39.9% |
| 每股收益（稀释后） | $1.22 | $0.44 |
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FULGFS
| Q3 25 | $892.0M | $1.7B | ||
| Q2 25 | $898.1M | $1.7B | ||
| Q1 25 | — | $1.6B | ||
| Q3 24 | $917.9M | $1.7B | ||
| Q2 24 | — | $1.6B | ||
| Q1 24 | $810.4M | $1.5B | ||
| Q4 23 | $902.9M | — | ||
| Q3 23 | $900.6M | $1.9B |
净利润FULGFS
| Q3 25 | $67.2M | $249.0M | ||
| Q2 25 | $41.8M | $228.0M | ||
| Q1 25 | — | $211.0M | ||
| Q3 24 | $55.4M | $178.0M | ||
| Q2 24 | — | $155.0M | ||
| Q1 24 | $31.0M | $134.0M | ||
| Q4 23 | $45.0M | — | ||
| Q3 23 | $37.6M | $249.0M |
毛利率FULGFS
| Q3 25 | 32.0% | 24.8% | ||
| Q2 25 | 31.9% | 24.2% | ||
| Q1 25 | — | 22.4% | ||
| Q3 24 | 30.0% | 23.8% | ||
| Q2 24 | — | 24.2% | ||
| Q1 24 | 29.5% | 25.4% | ||
| Q4 23 | 30.3% | — | ||
| Q3 23 | 29.3% | 28.6% |
营业利润率FULGFS
| Q3 25 | 12.3% | 11.6% | ||
| Q2 25 | 11.1% | 11.6% | ||
| Q1 25 | — | 9.5% | ||
| Q3 24 | 11.4% | 10.6% | ||
| Q2 24 | — | 9.5% | ||
| Q1 24 | 8.3% | 9.5% | ||
| Q4 23 | 12.6% | — | ||
| Q3 23 | 10.1% | 14.1% |
净利率FULGFS
| Q3 25 | 7.5% | 14.8% | ||
| Q2 25 | 4.7% | 13.5% | ||
| Q1 25 | — | 13.3% | ||
| Q3 24 | 6.0% | 10.2% | ||
| Q2 24 | — | 9.5% | ||
| Q1 24 | 3.8% | 8.7% | ||
| Q4 23 | 5.0% | — | ||
| Q3 23 | 4.2% | 13.4% |
每股收益（稀释后）FULGFS
| Q3 25 | $1.22 | $0.44 | ||
| Q2 25 | $0.76 | $0.41 | ||
| Q1 25 | — | $0.38 | ||
| Q3 24 | $0.98 | $0.32 | ||
| Q2 24 | — | $0.28 | ||
| Q1 24 | $0.55 | $0.24 | ||
| Q4 23 | $0.80 | — | ||
| Q3 23 | $0.67 | $0.45 |
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 | $122.5M | $2.0B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.0B | $11.8B |
| 总资产 | $5.2B | $16.7B |
| 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FULGFS
| Q3 25 | $122.5M | $2.0B | ||
| Q2 25 | $96.8M | $1.8B | ||
| Q1 25 | — | $1.6B | ||
| Q3 24 | $131.4M | $2.3B | ||
| Q2 24 | — | $2.2B | ||
| Q1 24 | $165.2M | $2.2B | ||
| Q4 23 | $179.5M | — | ||
| Q3 23 | $94.9M | $1.9B |
总债务FULGFS
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | $1.8B | — | ||
| Q3 23 | — | — |
股东权益FULGFS
| Q3 25 | $2.0B | $11.8B | ||
| Q2 25 | $1.9B | $11.5B | ||
| Q1 25 | — | $11.1B | ||
| Q3 24 | $1.8B | $11.6B | ||
| Q2 24 | — | $11.3B | ||
| Q1 24 | $1.8B | $11.3B | ||
| Q4 23 | $1.8B | — | ||
| Q3 23 | $1.7B | $10.8B |
总资产FULGFS
| Q3 25 | $5.2B | $16.7B | ||
| Q2 25 | $5.1B | $16.8B | ||
| Q1 25 | — | $16.5B | ||
| Q3 24 | $5.0B | $18.1B | ||
| Q2 24 | — | — | ||
| Q1 24 | $4.7B | — | ||
| Q4 23 | $4.7B | — | ||
| Q3 23 | $4.7B | $17.8B |
负债/权益比FULGFS
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | 1.05× | — | ||
| Q3 23 | — | — |
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 | $99.0M | $595.0M |
| 自由现金流经营现金流 - 资本支出 | $68.9M | — |
| 自由现金流率自由现金流/营收 | 7.7% | — |
| 资本支出强度资本支出/营收 | 3.4% | — |
| 现金转化率经营现金流/净利润 | 1.47× | 2.39× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流FULGFS
| Q3 25 | $99.0M | $595.0M | ||
| Q2 25 | — | $431.0M | ||
| Q1 25 | — | $331.0M | ||
| Q3 24 | $169.4M | $375.0M | ||
| Q2 24 | — | $402.0M | ||
| Q1 24 | $47.4M | $488.0M | ||
| Q4 23 | $161.7M | — | ||
| Q3 23 | $108.3M | $416.0M |
自由现金流FULGFS
| Q3 25 | $68.9M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | $99.9M | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $4.1M | — | ||
| Q4 23 | $152.1M | — | ||
| Q3 23 | $81.3M | — |
自由现金流率FULGFS
| Q3 25 | 7.7% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | 10.9% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.5% | — | ||
| Q4 23 | 16.8% | — | ||
| Q3 23 | 9.0% | — |
资本支出强度FULGFS
| Q3 25 | 3.4% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | 7.6% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 5.3% | — | ||
| Q4 23 | 1.1% | — | ||
| Q3 23 | 3.0% | — |
现金转化率FULGFS
| Q3 25 | 1.47× | 2.39× | ||
| Q2 25 | — | 1.89× | ||
| Q1 25 | — | 1.57× | ||
| Q3 24 | 3.06× | 2.11× | ||
| Q2 24 | — | 2.59× | ||
| Q1 24 | 1.53× | 3.64× | ||
| Q4 23 | 3.59× | — | ||
| Q3 23 | 2.88× | 1.67× |
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
FUL
| Hygiene Health And Consumable Adhesives | $386.1M | 43% |
| Engineering Adhesives | $272.3M | 31% |
| Building Adhesives Solutions | $233.7M | 26% |
GFS
| Smart Mobile Devices | $752.0M | 45% |
| Automotive | $306.0M | 18% |
| Home And Industrial Io T | $258.0M | 15% |
| Goods Or Services Transferred Over Time | $198.0M | 12% |
| Communications Infrastructure Datacenter | $175.0M | 10% |
