vs
FULLER H B CO（FUL）与利氏兄弟拍卖行（RBA）财务数据对比。点击上方公司名可切换其他公司
利氏兄弟拍卖行的季度营收约是FULLER H B CO的1.3倍（$1.2B vs $892.0M），利氏兄弟拍卖行净利率更高（9.1% vs 7.5%，领先1.6%），利氏兄弟拍卖行同比增速更快（5.4% vs -2.8%），利氏兄弟拍卖行自由现金流更多（$186.5M vs $68.9M），过去两年利氏兄弟拍卖行的营收复合增速更高（6.3% 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。
利氏兄弟拍卖行（股票代码RBA）是全球知名的工业资产拍卖服务商，注册地位于加拿大，属公开上市企业，总部设在美国伊利诺伊州韦斯特切斯特，普通股同时在多伦多证券交易所与纽约证券交易所挂牌交易。
FUL vs RBA — 直观对比
营收规模更大
RBA
是对方的1.3倍
$892.0M
营收增速更快
RBA
高出8.2%
-2.8%
净利率更高
RBA
高出1.6%
7.5%
自由现金流更多
RBA
多$117.6M
$68.9M
两年增速更快
RBA
近两年复合增速
5.0%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $892.0M | $1.2B |
| 净利润 | $67.2M | $109.7M |
| 毛利率 | 32.0% | — |
| 营业利润率 | 12.3% | 14.7% |
| 净利率 | 7.5% | 9.1% |
| 营收同比 | -2.8% | 5.4% |
| 净利润同比 | 21.3% | -7.4% |
| 每股收益（稀释后） | $1.22 | $0.53 |
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FULRBA
| Q4 25 | — | $1.2B | ||
| Q3 25 | $892.0M | $1.1B | ||
| Q2 25 | $898.1M | $1.2B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | $917.9M | $981.8M | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | $810.4M | $1.1B |
净利润FULRBA
| Q4 25 | — | $109.7M | ||
| Q3 25 | $67.2M | $95.5M | ||
| Q2 25 | $41.8M | $109.8M | ||
| Q1 25 | — | $113.4M | ||
| Q4 24 | — | $118.5M | ||
| Q3 24 | $55.4M | $76.1M | ||
| Q2 24 | — | $111.1M | ||
| Q1 24 | $31.0M | $107.4M |
毛利率FULRBA
| Q4 25 | — | — | ||
| Q3 25 | 32.0% | — | ||
| Q2 25 | 31.9% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 30.0% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 29.5% | — |
营业利润率FULRBA
| Q4 25 | — | 14.7% | ||
| Q3 25 | 12.3% | 14.5% | ||
| Q2 25 | 11.1% | 15.9% | ||
| Q1 25 | — | 17.1% | ||
| Q4 24 | — | 18.1% | ||
| Q3 24 | 11.4% | 15.6% | ||
| Q2 24 | — | 18.4% | ||
| Q1 24 | 8.3% | 18.7% |
净利率FULRBA
| Q4 25 | — | 9.1% | ||
| Q3 25 | 7.5% | 8.7% | ||
| Q2 25 | 4.7% | 9.3% | ||
| Q1 25 | — | 10.2% | ||
| Q4 24 | — | 10.4% | ||
| Q3 24 | 6.0% | 7.8% | ||
| Q2 24 | — | 10.1% | ||
| Q1 24 | 3.8% | 10.1% |
每股收益（稀释后）FULRBA
| Q4 25 | — | $0.53 | ||
| Q3 25 | $1.22 | $0.43 | ||
| Q2 25 | $0.76 | $0.53 | ||
| Q1 25 | — | $0.55 | ||
| Q4 24 | — | $0.58 | ||
| Q3 24 | $0.98 | $0.36 | ||
| Q2 24 | — | $0.54 | ||
| Q1 24 | $0.55 | $0.53 |
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 | $531.5M |
| 总债务越低越好 | — | $2.3B |
| 股东权益账面价值 | $2.0B | $5.6B |
| 总资产 | $5.2B | $12.1B |
| 负债/权益比越低杠杆越低 | — | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资FULRBA
| Q4 25 | — | $531.5M | ||
| Q3 25 | $122.5M | $674.7M | ||
| Q2 25 | $96.8M | $710.2M | ||
| Q1 25 | — | $578.1M | ||
| Q4 24 | — | $533.9M | ||
| Q3 24 | $131.4M | $650.7M | ||
| Q2 24 | — | $599.5M | ||
| Q1 24 | $165.2M | $462.8M |
总债务FULRBA
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | — | $2.6B | ||
| Q1 25 | — | $2.6B | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | — | $2.7B | ||
| Q2 24 | — | $2.8B | ||
| Q1 24 | — | $2.9B |
股东权益FULRBA
| Q4 25 | — | $5.6B | ||
| Q3 25 | $2.0B | $5.5B | ||
| Q2 25 | $1.9B | $5.5B | ||
| Q1 25 | — | $5.3B | ||
| Q4 24 | — | $5.2B | ||
| Q3 24 | $1.8B | $5.2B | ||
| Q2 24 | — | $5.2B | ||
| Q1 24 | $1.8B | $5.1B |
总资产FULRBA
| Q4 25 | — | $12.1B | ||
| Q3 25 | $5.2B | $12.2B | ||
| Q2 25 | $5.1B | $12.2B | ||
| Q1 25 | — | $11.9B | ||
| Q4 24 | — | $11.8B | ||
| Q3 24 | $5.0B | $11.9B | ||
| Q2 24 | — | $12.1B | ||
| Q1 24 | $4.7B | $12.0B |
负债/权益比FULRBA
| Q4 25 | — | 0.42× | ||
| Q3 25 | — | 0.47× | ||
| Q2 25 | — | 0.47× | ||
| Q1 25 | — | 0.50× | ||
| Q4 24 | — | 0.50× | ||
| Q3 24 | — | 0.52× | ||
| Q2 24 | — | 0.55× | ||
| Q1 24 | — | 0.58× |
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 | $255.2M |
| 自由现金流经营现金流 - 资本支出 | $68.9M | $186.5M |
| 自由现金流率自由现金流/营收 | 7.7% | 15.5% |
| 资本支出强度资本支出/营收 | 3.4% | 5.7% |
| 现金转化率经营现金流/净利润 | 1.47× | 2.33× |
| 过去12个月自由现金流最近4个季度 | — | $719.2M |
8季度趋势，按日历期对齐
经营现金流FULRBA
| Q4 25 | — | $255.2M | ||
| Q3 25 | $99.0M | $239.7M | ||
| Q2 25 | — | $326.5M | ||
| Q1 25 | — | $156.8M | ||
| Q4 24 | — | $184.5M | ||
| Q3 24 | $169.4M | $285.4M | ||
| Q2 24 | — | $337.3M | ||
| Q1 24 | $47.4M | $124.8M |
自由现金流FULRBA
| Q4 25 | — | $186.5M | ||
| Q3 25 | $68.9M | $188.5M | ||
| Q2 25 | — | $241.7M | ||
| Q1 25 | — | $102.5M | ||
| Q4 24 | — | $127.9M | ||
| Q3 24 | $99.9M | $248.5M | ||
| Q2 24 | — | $308.6M | ||
| Q1 24 | $4.1M | $79.6M |
自由现金流率FULRBA
| Q4 25 | — | 15.5% | ||
| Q3 25 | 7.7% | 17.3% | ||
| Q2 25 | — | 20.4% | ||
| Q1 25 | — | 9.2% | ||
| Q4 24 | — | 11.2% | ||
| Q3 24 | 10.9% | 25.3% | ||
| Q2 24 | — | 28.2% | ||
| Q1 24 | 0.5% | 7.5% |
资本支出强度FULRBA
| Q4 25 | — | 5.7% | ||
| Q3 25 | 3.4% | 4.7% | ||
| Q2 25 | — | 7.2% | ||
| Q1 25 | — | 4.9% | ||
| Q4 24 | — | 5.0% | ||
| Q3 24 | 7.6% | 3.8% | ||
| Q2 24 | — | 2.6% | ||
| Q1 24 | 5.3% | 4.2% |
现金转化率FULRBA
| Q4 25 | — | 2.33× | ||
| Q3 25 | 1.47× | 2.51× | ||
| Q2 25 | — | 2.97× | ||
| Q1 25 | — | 1.38× | ||
| Q4 24 | — | 1.56× | ||
| Q3 24 | 3.06× | 3.75× | ||
| Q2 24 | — | 3.04× | ||
| Q1 24 | 1.53× | 1.16× |
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% |
RBA
| Buyer Revenue | $577.2M | 48% |
| Seller Revenue | $255.2M | 21% |
| CA | $199.0M | 17% |
| Other | $124.7M | 10% |
| AU | $47.3M | 4% |
