vs
FULLER H B CO（FUL）与LCI INDUSTRIES（LCII）财务数据对比。点击上方公司名可切换其他公司
LCI INDUSTRIES的季度营收约是FULLER H B CO的1.0倍（$932.7M vs $892.0M），FULLER H B CO净利率更高（7.5% vs 2.0%，领先5.5%），LCI INDUSTRIES同比增速更快（16.1% vs -2.8%），FULLER H B CO自由现金流更多（$68.9M vs $64.3M），过去两年FULLER H B CO的营收复合增速更高（5.0% vs -1.8%）
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。
拉奇核心工业有限公司前身为巴基斯坦帝国化学工业公司，是一家总部位于卡拉奇的巴基斯坦综合性企业集团，业务覆盖聚酯、医药、农用化学品、纯碱及兽药等多品类产品的研发生产，在巴基斯坦本土工业领域拥有重要市场地位。
FUL vs LCII — 直观对比
营收规模更大
LCII
是对方的1.0倍
$892.0M
营收增速更快
LCII
高出19.0%
-2.8%
净利率更高
FUL
高出5.5%
2.0%
自由现金流更多
FUL
多$4.6M
$64.3M
两年增速更快
FUL
近两年复合增速
-1.8%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $892.0M | $932.7M |
| 净利润 | $67.2M | $18.7M |
| 毛利率 | 32.0% | 22.1% |
| 营业利润率 | 12.3% | 3.8% |
| 净利率 | 7.5% | 2.0% |
| 营收同比 | -2.8% | 16.1% |
| 净利润同比 | 21.3% | 95.7% |
| 每股收益（稀释后） | $1.22 | $0.79 |
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FULLCII
| Q4 25 | — | $932.7M | ||
| Q3 25 | $892.0M | $1.0B | ||
| Q2 25 | $898.1M | $1.1B | ||
| Q1 25 | — | $1.0B | ||
| Q4 24 | — | $803.1M | ||
| Q3 24 | $917.9M | $915.5M | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | $810.4M | $968.0M |
净利润FULLCII
| Q4 25 | — | $18.7M | ||
| Q3 25 | $67.2M | $62.5M | ||
| Q2 25 | $41.8M | $57.6M | ||
| Q1 25 | — | $49.4M | ||
| Q4 24 | — | $9.5M | ||
| Q3 24 | $55.4M | $35.6M | ||
| Q2 24 | — | $61.2M | ||
| Q1 24 | $31.0M | $36.5M |
毛利率FULLCII
| Q4 25 | — | 22.1% | ||
| Q3 25 | 32.0% | 24.4% | ||
| Q2 25 | 31.9% | 24.4% | ||
| Q1 25 | — | 24.1% | ||
| Q4 24 | — | 21.1% | ||
| Q3 24 | 30.0% | 24.0% | ||
| Q2 24 | — | 25.3% | ||
| Q1 24 | 29.5% | 23.1% |
营业利润率FULLCII
| Q4 25 | — | 3.8% | ||
| Q3 25 | 12.3% | 7.3% | ||
| Q2 25 | 11.1% | 7.9% | ||
| Q1 25 | — | 7.8% | ||
| Q4 24 | — | 2.0% | ||
| Q3 24 | 11.4% | 5.9% | ||
| Q2 24 | — | 8.6% | ||
| Q1 24 | 8.3% | 6.0% |
净利率FULLCII
| Q4 25 | — | 2.0% | ||
| Q3 25 | 7.5% | 6.0% | ||
| Q2 25 | 4.7% | 5.2% | ||
| Q1 25 | — | 4.7% | ||
| Q4 24 | — | 1.2% | ||
| Q3 24 | 6.0% | 3.9% | ||
| Q2 24 | — | 5.8% | ||
| Q1 24 | 3.8% | 3.8% |
每股收益（稀释后）FULLCII
| Q4 25 | — | $0.79 | ||
| Q3 25 | $1.22 | $2.55 | ||
| Q2 25 | $0.76 | $2.29 | ||
| Q1 25 | — | $1.94 | ||
| Q4 24 | — | $0.37 | ||
| Q3 24 | $0.98 | $1.39 | ||
| Q2 24 | — | $2.40 | ||
| Q1 24 | $0.55 | $1.44 |
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 | $222.6M |
| 总债务越低越好 | — | $945.2M |
| 股东权益账面价值 | $2.0B | $1.4B |
| 总资产 | $5.2B | $3.2B |
| 负债/权益比越低杠杆越低 | — | 0.69× |
8季度趋势，按日历期对齐
现金及短期投资FULLCII
| Q4 25 | — | $222.6M | ||
| Q3 25 | $122.5M | $199.7M | ||
| Q2 25 | $96.8M | $191.9M | ||
| Q1 25 | — | $231.2M | ||
| Q4 24 | — | $165.8M | ||
| Q3 24 | $131.4M | $161.2M | ||
| Q2 24 | — | $130.4M | ||
| Q1 24 | $165.2M | $22.6M |
总债务FULLCII
| Q4 25 | — | $945.2M | ||
| Q3 25 | — | $947.8M | ||
| Q2 25 | — | $948.0M | ||
| Q1 25 | — | $938.3M | ||
| Q4 24 | — | $757.3M | ||
| Q3 24 | — | $822.5M | ||
| Q2 24 | — | $829.7M | ||
| Q1 24 | — | $855.3M |
股东权益FULLCII
| Q4 25 | — | $1.4B | ||
| Q3 25 | $2.0B | $1.4B | ||
| Q2 25 | $1.9B | $1.4B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | $1.8B | $1.4B | ||
| Q2 24 | — | $1.4B | ||
| Q1 24 | $1.8B | $1.4B |
总资产FULLCII
| Q4 25 | — | $3.2B | ||
| Q3 25 | $5.2B | $3.2B | ||
| Q2 25 | $5.1B | $3.2B | ||
| Q1 25 | — | $3.1B | ||
| Q4 24 | — | $2.9B | ||
| Q3 24 | $5.0B | $3.0B | ||
| Q2 24 | — | $3.0B | ||
| Q1 24 | $4.7B | $3.0B |
负债/权益比FULLCII
| Q4 25 | — | 0.69× | ||
| Q3 25 | — | 0.70× | ||
| Q2 25 | — | 0.68× | ||
| Q1 25 | — | 0.69× | ||
| Q4 24 | — | 0.55× | ||
| Q3 24 | — | 0.58× | ||
| Q2 24 | — | 0.60× | ||
| Q1 24 | — | 0.63× |
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 | $78.9M |
| 自由现金流经营现金流 - 资本支出 | $68.9M | $64.3M |
| 自由现金流率自由现金流/营收 | 7.7% | 6.9% |
| 资本支出强度资本支出/营收 | 3.4% | 1.6% |
| 现金转化率经营现金流/净利润 | 1.47× | 4.22× |
| 过去12个月自由现金流最近4个季度 | — | $278.3M |
8季度趋势，按日历期对齐
经营现金流FULLCII
| Q4 25 | — | $78.9M | ||
| Q3 25 | $99.0M | $97.2M | ||
| Q2 25 | — | $112.2M | ||
| Q1 25 | — | $42.7M | ||
| Q4 24 | — | $106.6M | ||
| Q3 24 | $169.4M | $78.4M | ||
| Q2 24 | — | $192.9M | ||
| Q1 24 | $47.4M | $-7.7M |
自由现金流FULLCII
| Q4 25 | — | $64.3M | ||
| Q3 25 | $68.9M | $80.9M | ||
| Q2 25 | — | $99.5M | ||
| Q1 25 | — | $33.7M | ||
| Q4 24 | — | $95.7M | ||
| Q3 24 | $99.9M | $68.3M | ||
| Q2 24 | — | $180.2M | ||
| Q1 24 | $4.1M | $-16.3M |
自由现金流率FULLCII
| Q4 25 | — | 6.9% | ||
| Q3 25 | 7.7% | 7.8% | ||
| Q2 25 | — | 9.0% | ||
| Q1 25 | — | 3.2% | ||
| Q4 24 | — | 11.9% | ||
| Q3 24 | 10.9% | 7.5% | ||
| Q2 24 | — | 17.1% | ||
| Q1 24 | 0.5% | -1.7% |
资本支出强度FULLCII
| Q4 25 | — | 1.6% | ||
| Q3 25 | 3.4% | 1.6% | ||
| Q2 25 | — | 1.2% | ||
| Q1 25 | — | 0.9% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | 7.6% | 1.1% | ||
| Q2 24 | — | 1.2% | ||
| Q1 24 | 5.3% | 0.9% |
现金转化率FULLCII
| Q4 25 | — | 4.22× | ||
| Q3 25 | 1.47× | 1.55× | ||
| Q2 25 | — | 1.95× | ||
| Q1 25 | — | 0.86× | ||
| Q4 24 | — | 11.17× | ||
| Q3 24 | 3.06× | 2.20× | ||
| Q2 24 | — | 3.15× | ||
| Q1 24 | 1.53× | -0.21× |
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% |
LCII
| Travel Trailer And Fifth Wheels | $378.4M | 41% |
| Chassis Chassis Partsand Slideout Mechanisms | $206.1M | 22% |
| Furnitureand Mattresses | $120.4M | 13% |
| Appliances | $69.9M | 7% |
| Other Products | $69.1M | 7% |
| Axlesand Suspension Solutions | $62.3M | 7% |
| Motorhomes | $34.2M | 4% |
