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FULLER H B CO（FUL）与RXO, Inc.（RXO）财务数据对比。点击上方公司名可切换其他公司
RXO, Inc.的季度营收约是FULLER H B CO的1.6倍（$1.5B vs $892.0M），FULLER H B CO净利率更高（7.5% vs -3.1%，领先10.7%），FULLER H B CO同比增速更快（-2.8% vs -11.9%），FULLER H B CO自由现金流更多（$68.9M vs $-9.0M），过去两年RXO, Inc.的营收复合增速更高（26.8% 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。
RXO是总部位于美国的头部运输及物流解决方案供应商，核心业务覆盖货运经纪、大件商品最后一公里配送、运输管理服务与全链路供应链优化支持，主要服务北美制造业、零售业及电商领域的客户。
FUL vs RXO — 直观对比
营收规模更大
RXO
是对方的1.6倍
$892.0M
营收增速更快
FUL
高出9.1%
-11.9%
净利率更高
FUL
高出10.7%
-3.1%
自由现金流更多
FUL
多$77.9M
$-9.0M
两年增速更快
RXO
近两年复合增速
5.0%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $892.0M | $1.5B |
| 净利润 | $67.2M | $-46.0M |
| 毛利率 | 32.0% | — |
| 营业利润率 | 12.3% | -2.9% |
| 净利率 | 7.5% | -3.1% |
| 营收同比 | -2.8% | -11.9% |
| 净利润同比 | 21.3% | -84.0% |
| 每股收益（稀释后） | $1.22 | $-0.28 |
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FULRXO
| Q4 25 | — | $1.5B | ||
| Q3 25 | $892.0M | $1.4B | ||
| Q2 25 | $898.1M | $1.4B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | $917.9M | $1.0B | ||
| Q2 24 | — | $930.0M | ||
| Q1 24 | $810.4M | $913.0M |
净利润FULRXO
| Q4 25 | — | $-46.0M | ||
| Q3 25 | $67.2M | $-14.0M | ||
| Q2 25 | $41.8M | $-9.0M | ||
| Q1 25 | — | $-31.0M | ||
| Q4 24 | — | $-25.0M | ||
| Q3 24 | $55.4M | $-243.0M | ||
| Q2 24 | — | $-7.0M | ||
| Q1 24 | $31.0M | $-15.0M |
毛利率FULRXO
| 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FULRXO
| Q4 25 | — | -2.9% | ||
| Q3 25 | 12.3% | -0.5% | ||
| Q2 25 | 11.1% | — | ||
| Q1 25 | — | -2.1% | ||
| Q4 24 | — | -1.4% | ||
| Q3 24 | 11.4% | -1.9% | ||
| Q2 24 | — | — | ||
| Q1 24 | 8.3% | -1.3% |
净利率FULRXO
| Q4 25 | — | -3.1% | ||
| Q3 25 | 7.5% | -1.0% | ||
| Q2 25 | 4.7% | -0.6% | ||
| Q1 25 | — | -2.2% | ||
| Q4 24 | — | -1.5% | ||
| Q3 24 | 6.0% | -23.4% | ||
| Q2 24 | — | -0.8% | ||
| Q1 24 | 3.8% | -1.6% |
每股收益（稀释后）FULRXO
| Q4 25 | — | $-0.28 | ||
| Q3 25 | $1.22 | $-0.08 | ||
| Q2 25 | $0.76 | $-0.05 | ||
| Q1 25 | — | $-0.18 | ||
| Q4 24 | — | $-0.17 | ||
| Q3 24 | $0.98 | $-1.81 | ||
| Q2 24 | — | $-0.06 | ||
| Q1 24 | $0.55 | $-0.13 |
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 | $17.0M |
| 总债务越低越好 | — | $387.0M |
| 股东权益账面价值 | $2.0B | $1.5B |
| 总资产 | $5.2B | $3.3B |
| 负债/权益比越低杠杆越低 | — | 0.25× |
8季度趋势，按日历期对齐
现金及短期投资FULRXO
| Q4 25 | — | $17.0M | ||
| Q3 25 | $122.5M | $25.0M | ||
| Q2 25 | $96.8M | $18.0M | ||
| Q1 25 | — | $16.0M | ||
| Q4 24 | — | $35.0M | ||
| Q3 24 | $131.4M | $55.0M | ||
| Q2 24 | — | $7.0M | ||
| Q1 24 | $165.2M | $7.0M |
总债务FULRXO
| Q4 25 | — | $387.0M | ||
| Q3 25 | — | $387.0M | ||
| Q2 25 | — | $387.0M | ||
| Q1 25 | — | $387.0M | ||
| Q4 24 | — | $351.0M | ||
| Q3 24 | — | $352.0M | ||
| Q2 24 | — | $370.0M | ||
| Q1 24 | — | $351.0M |
股东权益FULRXO
| Q4 25 | — | $1.5B | ||
| Q3 25 | $2.0B | $1.6B | ||
| Q2 25 | $1.9B | $1.6B | ||
| Q1 25 | — | $1.6B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | $1.8B | $1.7B | ||
| Q2 24 | — | $579.0M | ||
| Q1 24 | $1.8B | $582.0M |
总资产FULRXO
| Q4 25 | — | $3.3B | ||
| Q3 25 | $5.2B | $3.2B | ||
| Q2 25 | $5.1B | $3.2B | ||
| Q1 25 | — | $3.3B | ||
| Q4 24 | — | $3.4B | ||
| Q3 24 | $5.0B | $3.4B | ||
| Q2 24 | — | $1.8B | ||
| Q1 24 | $4.7B | $1.8B |
负债/权益比FULRXO
| Q4 25 | — | 0.25× | ||
| Q3 25 | — | 0.24× | ||
| Q2 25 | — | 0.24× | ||
| Q1 25 | — | 0.24× | ||
| Q4 24 | — | 0.22× | ||
| Q3 24 | — | 0.21× | ||
| Q2 24 | — | 0.64× | ||
| Q1 24 | — | 0.60× |
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 | $7.0M |
| 自由现金流经营现金流 - 资本支出 | $68.9M | $-9.0M |
| 自由现金流率自由现金流/营收 | 7.7% | -0.6% |
| 资本支出强度资本支出/营收 | 3.4% | 1.1% |
| 现金转化率经营现金流/净利润 | 1.47× | — |
| 过去12个月自由现金流最近4个季度 | — | $-8.0M |
8季度趋势，按日历期对齐
经营现金流FULRXO
| Q4 25 | — | $7.0M | ||
| Q3 25 | $99.0M | $23.0M | ||
| Q2 25 | — | $23.0M | ||
| Q1 25 | — | $-2.0M | ||
| Q4 24 | — | $-7.0M | ||
| Q3 24 | $169.4M | $-7.0M | ||
| Q2 24 | — | $-5.0M | ||
| Q1 24 | $47.4M | $7.0M |
自由现金流FULRXO
| Q4 25 | — | $-9.0M | ||
| Q3 25 | $68.9M | $9.0M | ||
| Q2 25 | — | $9.0M | ||
| Q1 25 | — | $-17.0M | ||
| Q4 24 | — | $-19.0M | ||
| Q3 24 | $99.9M | $-18.0M | ||
| Q2 24 | — | $-16.0M | ||
| Q1 24 | $4.1M | $-4.0M |
自由现金流率FULRXO
| Q4 25 | — | -0.6% | ||
| Q3 25 | 7.7% | 0.6% | ||
| Q2 25 | — | 0.6% | ||
| Q1 25 | — | -1.2% | ||
| Q4 24 | — | -1.1% | ||
| Q3 24 | 10.9% | -1.7% | ||
| Q2 24 | — | -1.7% | ||
| Q1 24 | 0.5% | -0.4% |
资本支出强度FULRXO
| Q4 25 | — | 1.1% | ||
| Q3 25 | 3.4% | 1.0% | ||
| Q2 25 | — | 1.0% | ||
| Q1 25 | — | 1.0% | ||
| Q4 24 | — | 0.7% | ||
| Q3 24 | 7.6% | 1.1% | ||
| Q2 24 | — | 1.2% | ||
| Q1 24 | 5.3% | 1.2% |
现金转化率FULRXO
| Q4 25 | — | — | ||
| Q3 25 | 1.47× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.06× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 1.53× | — |
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% |
RXO
| Retail Sector | $546.0M | 37% |
| Last Mile | $298.0M | 20% |
| Food And Beverage Sector | $225.0M | 15% |
| Other Sector | $185.0M | 13% |
| Managed Transportation | $133.0M | 9% |
| Automotive Sector | $93.0M | 6% |
