vs
FULLER H B CO（FUL）与固瑞克（GGG）财务数据对比。点击上方公司名可切换其他公司
FULLER H B CO的季度营收约是固瑞克的1.5倍（$892.0M vs $593.2M），固瑞克净利率更高（22.3% vs 7.5%，领先14.8%），固瑞克同比增速更快（8.1% vs -2.8%），固瑞克自由现金流更多（$184.3M vs $68.9M），过去两年固瑞克的营收复合增速更高（9.8% vs 5.0%）
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。
固瑞克（Graco Inc.）是总部位于美国明尼苏达州明尼阿波利斯的工业企业，专注于流体处理系统及相关产品的研发与制造，旗下产品销往全球各地，广泛应用于多个工业领域。
FUL vs GGG — 直观对比
营收规模更大
FUL
是对方的1.5倍
$593.2M
营收增速更快
GGG
高出10.9%
-2.8%
净利率更高
GGG
高出14.8%
7.5%
自由现金流更多
GGG
多$115.4M
$68.9M
两年增速更快
GGG
近两年复合增速
5.0%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $892.0M | $593.2M |
| 净利润 | $67.2M | $132.5M |
| 毛利率 | 32.0% | 51.7% |
| 营业利润率 | 12.3% | 26.7% |
| 净利率 | 7.5% | 22.3% |
| 营收同比 | -2.8% | 8.1% |
| 净利润同比 | 21.3% | 21.9% |
| 每股收益（稀释后） | $1.22 | $0.78 |
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FULGGG
| Q4 25 | — | $593.2M | ||
| Q3 25 | $892.0M | $543.4M | ||
| Q2 25 | $898.1M | $571.8M | ||
| Q1 25 | — | $528.3M | ||
| Q4 24 | — | $548.7M | ||
| Q3 24 | $917.9M | $519.2M | ||
| Q2 24 | — | $553.2M | ||
| Q1 24 | $810.4M | $492.2M |
净利润FULGGG
| Q4 25 | — | $132.5M | ||
| Q3 25 | $67.2M | $137.6M | ||
| Q2 25 | $41.8M | $127.6M | ||
| Q1 25 | — | $124.1M | ||
| Q4 24 | — | $108.7M | ||
| Q3 24 | $55.4M | $122.2M | ||
| Q2 24 | — | $133.0M | ||
| Q1 24 | $31.0M | $122.2M |
毛利率FULGGG
| Q4 25 | — | 51.7% | ||
| Q3 25 | 32.0% | 53.2% | ||
| Q2 25 | 31.9% | 52.4% | ||
| Q1 25 | — | 52.6% | ||
| Q4 24 | — | 50.9% | ||
| Q3 24 | 30.0% | 53.2% | ||
| Q2 24 | — | 54.4% | ||
| Q1 24 | 29.5% | 54.1% |
营业利润率FULGGG
| Q4 25 | — | 26.7% | ||
| Q3 25 | 12.3% | 30.3% | ||
| Q2 25 | 11.1% | 27.5% | ||
| Q1 25 | — | 27.3% | ||
| Q4 24 | — | 23.7% | ||
| Q3 24 | 11.4% | 28.1% | ||
| Q2 24 | — | 29.2% | ||
| Q1 24 | 8.3% | 27.0% |
净利率FULGGG
| Q4 25 | — | 22.3% | ||
| Q3 25 | 7.5% | 25.3% | ||
| Q2 25 | 4.7% | 22.3% | ||
| Q1 25 | — | 23.5% | ||
| Q4 24 | — | 19.8% | ||
| Q3 24 | 6.0% | 23.5% | ||
| Q2 24 | — | 24.0% | ||
| Q1 24 | 3.8% | 24.8% |
每股收益（稀释后）FULGGG
| Q4 25 | — | $0.78 | ||
| Q3 25 | $1.22 | $0.82 | ||
| Q2 25 | $0.76 | $0.76 | ||
| Q1 25 | — | $0.72 | ||
| Q4 24 | — | $0.63 | ||
| Q3 24 | $0.98 | $0.71 | ||
| Q2 24 | — | $0.77 | ||
| Q1 24 | $0.55 | $0.71 |
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 | $624.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.0B | $2.7B |
| 总资产 | $5.2B | $3.3B |
| 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FULGGG
| Q4 25 | — | $624.1M | ||
| Q3 25 | $122.5M | $618.7M | ||
| Q2 25 | $96.8M | $534.9M | ||
| Q1 25 | — | $536.1M | ||
| Q4 24 | — | $675.3M | ||
| Q3 24 | $131.4M | $764.5M | ||
| Q2 24 | — | $666.0M | ||
| Q1 24 | $165.2M | $622.7M |
股东权益FULGGG
| Q4 25 | — | $2.7B | ||
| Q3 25 | $2.0B | $2.6B | ||
| Q2 25 | $1.9B | $2.5B | ||
| Q1 25 | — | $2.5B | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | $1.8B | $2.5B | ||
| Q2 24 | — | $2.4B | ||
| Q1 24 | $1.8B | $2.3B |
总资产FULGGG
| Q4 25 | — | $3.3B | ||
| Q3 25 | $5.2B | $3.2B | ||
| Q2 25 | $5.1B | $3.0B | ||
| Q1 25 | — | $3.0B | ||
| Q4 24 | — | $3.1B | ||
| Q3 24 | $5.0B | $3.0B | ||
| Q2 24 | — | $2.9B | ||
| Q1 24 | $4.7B | $2.8B |
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 | $196.3M |
| 自由现金流经营现金流 - 资本支出 | $68.9M | $184.3M |
| 自由现金流率自由现金流/营收 | 7.7% | 31.1% |
| 资本支出强度资本支出/营收 | 3.4% | 2.0% |
| 现金转化率经营现金流/净利润 | 1.47× | 1.48× |
| 过去12个月自由现金流最近4个季度 | — | $637.9M |
8季度趋势，按日历期对齐
经营现金流FULGGG
| Q4 25 | — | $196.3M | ||
| Q3 25 | $99.0M | $179.2M | ||
| Q2 25 | — | $182.7M | ||
| Q1 25 | — | $125.4M | ||
| Q4 24 | — | $185.2M | ||
| Q3 24 | $169.4M | $178.6M | ||
| Q2 24 | — | $139.0M | ||
| Q1 24 | $47.4M | $118.9M |
自由现金流FULGGG
| Q4 25 | — | $184.3M | ||
| Q3 25 | $68.9M | $175.7M | ||
| Q2 25 | — | $163.1M | ||
| Q1 25 | — | $114.8M | ||
| Q4 24 | — | $171.3M | ||
| Q3 24 | $99.9M | $159.2M | ||
| Q2 24 | — | $102.7M | ||
| Q1 24 | $4.1M | $81.7M |
自由现金流率FULGGG
| Q4 25 | — | 31.1% | ||
| Q3 25 | 7.7% | 32.3% | ||
| Q2 25 | — | 28.5% | ||
| Q1 25 | — | 21.7% | ||
| Q4 24 | — | 31.2% | ||
| Q3 24 | 10.9% | 30.7% | ||
| Q2 24 | — | 18.6% | ||
| Q1 24 | 0.5% | 16.6% |
资本支出强度FULGGG
| Q4 25 | — | 2.0% | ||
| Q3 25 | 3.4% | 0.6% | ||
| Q2 25 | — | 3.4% | ||
| Q1 25 | — | 2.0% | ||
| Q4 24 | — | 2.5% | ||
| Q3 24 | 7.6% | 3.7% | ||
| Q2 24 | — | 6.6% | ||
| Q1 24 | 5.3% | 7.6% |
现金转化率FULGGG
| Q4 25 | — | 1.48× | ||
| Q3 25 | 1.47× | 1.30× | ||
| Q2 25 | — | 1.43× | ||
| Q1 25 | — | 1.01× | ||
| Q4 24 | — | 1.70× | ||
| Q3 24 | 3.06× | 1.46× | ||
| Q2 24 | — | 1.05× | ||
| Q1 24 | 1.53× | 0.97× |
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% |
GGG
| Industrial | $284.3M | 48% |
| Contractor | $265.5M | 45% |
| Other | $43.4M | 7% |
