vs
FULLER H B CO（FUL）与Sinclair, Inc.（SBGI）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Sinclair, Inc.的1.1倍（$892.0M vs $836.0M），Sinclair, Inc.净利率更高（13.0% vs 7.5%，领先5.5%），FULLER H B CO同比增速更快（-2.8% vs -16.7%），Sinclair, Inc.自由现金流更多（$79.0M vs $68.9M），过去两年FULLER H B CO的营收复合增速更高（5.0% vs 2.4%）
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。
辛克莱公司（以辛克莱广播集团开展业务）是一家上市的美国电信综合企业，由创始人朱利安·辛克莱·史密斯的后代控股。公司总部位于马里兰州巴尔的摩郊县科基斯维尔，按电视台数量计算是美国第二大电视台运营商，仅次于奈克斯达媒体集团，在全国100多个市场拥有或运营193家电视台，覆盖美国40%的区域。
FUL vs SBGI — 直观对比
营收规模更大
FUL
是对方的1.1倍
$836.0M
营收增速更快
FUL
高出13.9%
-16.7%
净利率更高
SBGI
高出5.5%
7.5%
自由现金流更多
SBGI
多$10.1M
$68.9M
两年增速更快
FUL
近两年复合增速
2.4%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $892.0M | $836.0M |
| 净利润 | $67.2M | $109.0M |
| 毛利率 | 32.0% | — |
| 营业利润率 | 12.3% | 9.6% |
| 净利率 | 7.5% | 13.0% |
| 营收同比 | -2.8% | -16.7% |
| 净利润同比 | 21.3% | -38.1% |
| 每股收益（稀释后） | $1.22 | $1.62 |
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FULSBGI
| Q4 25 | — | $836.0M | ||
| Q3 25 | $892.0M | $773.0M | ||
| Q2 25 | $898.1M | $784.0M | ||
| Q1 25 | — | $776.0M | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | $917.9M | $917.0M | ||
| Q2 24 | — | $829.0M | ||
| Q1 24 | $810.4M | $798.0M |
净利润FULSBGI
| Q4 25 | — | $109.0M | ||
| Q3 25 | $67.2M | $-1.0M | ||
| Q2 25 | $41.8M | $-64.0M | ||
| Q1 25 | — | $-156.0M | ||
| Q4 24 | — | $176.0M | ||
| Q3 24 | $55.4M | $94.0M | ||
| Q2 24 | — | $17.0M | ||
| Q1 24 | $31.0M | $23.0M |
毛利率FULSBGI
| 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FULSBGI
| Q4 25 | — | 9.6% | ||
| Q3 25 | 12.3% | 7.5% | ||
| Q2 25 | 11.1% | 2.7% | ||
| Q1 25 | — | 1.8% | ||
| Q4 24 | — | 26.5% | ||
| Q3 24 | 11.4% | 19.5% | ||
| Q2 24 | — | 7.7% | ||
| Q1 24 | 8.3% | 5.3% |
净利率FULSBGI
| Q4 25 | — | 13.0% | ||
| Q3 25 | 7.5% | -0.1% | ||
| Q2 25 | 4.7% | -8.2% | ||
| Q1 25 | — | -20.1% | ||
| Q4 24 | — | 17.5% | ||
| Q3 24 | 6.0% | 10.3% | ||
| Q2 24 | — | 2.1% | ||
| Q1 24 | 3.8% | 2.9% |
每股收益（稀释后）FULSBGI
| Q4 25 | — | $1.62 | ||
| Q3 25 | $1.22 | $-0.02 | ||
| Q2 25 | $0.76 | $-0.91 | ||
| Q1 25 | — | $-2.30 | ||
| Q4 24 | — | $2.64 | ||
| Q3 24 | $0.98 | $1.43 | ||
| Q2 24 | — | $0.27 | ||
| Q1 24 | $0.55 | $0.35 |
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 | $866.0M |
| 总债务越低越好 | — | $4.4B |
| 股东权益账面价值 | $2.0B | $443.0M |
| 总资产 | $5.2B | $5.9B |
| 负债/权益比越低杠杆越低 | — | 9.84× |
8季度趋势，按日历期对齐
现金及短期投资FULSBGI
| Q4 25 | — | $866.0M | ||
| Q3 25 | $122.5M | $526.0M | ||
| Q2 25 | $96.8M | $616.0M | ||
| Q1 25 | — | $631.0M | ||
| Q4 24 | — | $697.0M | ||
| Q3 24 | $131.4M | $536.0M | ||
| Q2 24 | — | $378.0M | ||
| Q1 24 | $165.2M | $655.0M |
总债务FULSBGI
| Q4 25 | — | $4.4B | ||
| Q3 25 | — | $4.1B | ||
| Q2 25 | — | $4.1B | ||
| Q1 25 | — | $4.2B | ||
| Q4 24 | — | $4.1B | ||
| Q3 24 | — | $4.1B | ||
| Q2 24 | — | $4.1B | ||
| Q1 24 | — | $4.1B |
股东权益FULSBGI
| Q4 25 | — | $443.0M | ||
| Q3 25 | $2.0B | $347.0M | ||
| Q2 25 | $1.9B | $361.0M | ||
| Q1 25 | — | $436.0M | ||
| Q4 24 | — | $583.0M | ||
| Q3 24 | $1.8B | $415.0M | ||
| Q2 24 | — | $340.0M | ||
| Q1 24 | $1.8B | $333.0M |
总资产FULSBGI
| Q4 25 | — | $5.9B | ||
| Q3 25 | $5.2B | $5.6B | ||
| Q2 25 | $5.1B | $5.7B | ||
| Q1 25 | — | $5.8B | ||
| Q4 24 | — | $5.9B | ||
| Q3 24 | $5.0B | $5.8B | ||
| Q2 24 | — | $5.7B | ||
| Q1 24 | $4.7B | $6.0B |
负债/权益比FULSBGI
| Q4 25 | — | 9.84× | ||
| Q3 25 | — | 11.75× | ||
| Q2 25 | — | 11.30× | ||
| Q1 25 | — | 9.56× | ||
| Q4 24 | — | 7.02× | ||
| Q3 24 | — | 9.86× | ||
| Q2 24 | — | 12.08× | ||
| Q1 24 | — | 12.35× |
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 | $98.0M |
| 自由现金流经营现金流 - 资本支出 | $68.9M | $79.0M |
| 自由现金流率自由现金流/营收 | 7.7% | 9.4% |
| 资本支出强度资本支出/营收 | 3.4% | 2.3% |
| 现金转化率经营现金流/净利润 | 1.47× | 0.90× |
| 过去12个月自由现金流最近4个季度 | — | $115.0M |
8季度趋势，按日历期对齐
经营现金流FULSBGI
| Q4 25 | — | $98.0M | ||
| Q3 25 | $99.0M | $-36.0M | ||
| Q2 25 | — | $122.0M | ||
| Q1 25 | — | $5.0M | ||
| Q4 24 | — | $198.0M | ||
| Q3 24 | $169.4M | $210.0M | ||
| Q2 24 | — | $-306.0M | ||
| Q1 24 | $47.4M | $-4.0M |
自由现金流FULSBGI
| Q4 25 | — | $79.0M | ||
| Q3 25 | $68.9M | $-58.0M | ||
| Q2 25 | — | $105.0M | ||
| Q1 25 | — | $-11.0M | ||
| Q4 24 | — | $175.0M | ||
| Q3 24 | $99.9M | $193.0M | ||
| Q2 24 | — | $-329.0M | ||
| Q1 24 | $4.1M | $-25.0M |
自由现金流率FULSBGI
| Q4 25 | — | 9.4% | ||
| Q3 25 | 7.7% | -7.5% | ||
| Q2 25 | — | 13.4% | ||
| Q1 25 | — | -1.4% | ||
| Q4 24 | — | 17.4% | ||
| Q3 24 | 10.9% | 21.0% | ||
| Q2 24 | — | -39.7% | ||
| Q1 24 | 0.5% | -3.1% |
资本支出强度FULSBGI
| Q4 25 | — | 2.3% | ||
| Q3 25 | 3.4% | 2.8% | ||
| Q2 25 | — | 2.2% | ||
| Q1 25 | — | 2.1% | ||
| Q4 24 | — | 2.3% | ||
| Q3 24 | 7.6% | 1.9% | ||
| Q2 24 | — | 2.8% | ||
| Q1 24 | 5.3% | 2.6% |
现金转化率FULSBGI
| Q4 25 | — | 0.90× | ||
| Q3 25 | 1.47× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.13× | ||
| Q3 24 | 3.06× | 2.23× | ||
| Q2 24 | — | -18.00× | ||
| Q1 24 | 1.53× | -0.17× |
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% |
SBGI
| Distribution Revenue | $384.0M | 46% |
| Core Advertising Revenue | $312.0M | 37% |
| Tennis Segment | $62.0M | 7% |
| Other | $40.0M | 5% |
| Other Media Non Media Revenuesand Intercompany Revenues | $24.0M | 3% |
| Political Advertising Revenue | $14.0M | 2% |
