vs
FULLER H B CO（FUL）与思佳讯（SWKS）财务数据对比。点击上方公司名可切换其他公司
思佳讯的季度营收约是FULLER H B CO的1.2倍（$1.0B vs $892.0M），思佳讯净利率更高（7.6% vs 7.5%，领先0.1%），思佳讯同比增速更快（8.6% vs -2.8%），思佳讯自由现金流更多（$339.0M vs $68.9M），过去两年FULLER H B CO的营收复合增速更高（5.0% vs -0.5%）
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。
思佳讯是总部位于美国加利福尼亚州尔湾的半导体企业，公司股票在纳斯达克全球精选市场挂牌交易，股票代码为SWKS，同时也是标普500指数的成分股之一，在全球射频半导体领域拥有较高市场地位。
FUL vs SWKS — 直观对比
营收规模更大
SWKS
是对方的1.2倍
$892.0M
营收增速更快
SWKS
高出11.4%
-2.8%
净利率更高
SWKS
高出0.1%
7.5%
自由现金流更多
SWKS
多$270.1M
$68.9M
两年增速更快
FUL
近两年复合增速
-0.5%
损益表 — Q3 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $892.0M | $1.0B |
| 净利润 | $67.2M | $79.2M |
| 毛利率 | 32.0% | 41.3% |
| 营业利润率 | 12.3% | 10.0% |
| 净利率 | 7.5% | 7.6% |
| 营收同比 | -2.8% | 8.6% |
| 净利润同比 | 21.3% | 15.3% |
| 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FULSWKS
| Q1 26 | — | $1.0B | ||
| Q4 25 | — | $1.1B | ||
| Q3 25 | $892.0M | — | ||
| Q2 25 | $898.1M | $965.0M | ||
| Q1 25 | — | $953.2M | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | $917.9M | $1.0B | ||
| Q2 24 | — | $905.5M |
净利润FULSWKS
| Q1 26 | — | $79.2M | ||
| Q4 25 | — | $141.4M | ||
| Q3 25 | $67.2M | — | ||
| Q2 25 | $41.8M | $105.0M | ||
| Q1 25 | — | $68.7M | ||
| Q4 24 | — | $162.0M | ||
| Q3 24 | $55.4M | $60.5M | ||
| Q2 24 | — | $120.9M |
毛利率FULSWKS
| Q1 26 | — | 41.3% | ||
| Q4 25 | — | 40.7% | ||
| Q3 25 | 32.0% | — | ||
| Q2 25 | 31.9% | 41.6% | ||
| Q1 25 | — | 41.1% | ||
| Q4 24 | — | 41.4% | ||
| Q3 24 | 30.0% | 41.9% | ||
| Q2 24 | — | 40.2% |
营业利润率FULSWKS
| Q1 26 | — | 10.0% | ||
| Q4 25 | — | 10.1% | ||
| Q3 25 | 12.3% | — | ||
| Q2 25 | 11.1% | 11.5% | ||
| Q1 25 | — | 10.2% | ||
| Q4 24 | — | 16.9% | ||
| Q3 24 | 11.4% | 5.8% | ||
| Q2 24 | — | 14.4% |
净利率FULSWKS
| Q1 26 | — | 7.6% | ||
| Q4 25 | — | 12.9% | ||
| Q3 25 | 7.5% | — | ||
| Q2 25 | 4.7% | 10.9% | ||
| Q1 25 | — | 7.2% | ||
| Q4 24 | — | 15.2% | ||
| Q3 24 | 6.0% | 5.9% | ||
| Q2 24 | — | 13.4% |
每股收益（稀释后）FULSWKS
| Q1 26 | — | $0.53 | ||
| Q4 25 | — | $0.95 | ||
| Q3 25 | $1.22 | — | ||
| Q2 25 | $0.76 | $0.70 | ||
| Q1 25 | — | $0.43 | ||
| Q4 24 | — | $1.00 | ||
| Q3 24 | $0.98 | $0.36 | ||
| Q2 24 | — | $0.75 |
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 | $1.6B |
| 总债务越低越好 | — | $496.6M |
| 股东权益账面价值 | $2.0B | $5.8B |
| 总资产 | $5.2B | $7.9B |
| 负债/权益比越低杠杆越低 | — | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资FULSWKS
| Q1 26 | — | $1.6B | ||
| Q4 25 | — | $1.4B | ||
| Q3 25 | $122.5M | — | ||
| Q2 25 | $96.8M | $1.3B | ||
| Q1 25 | — | $1.5B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | $131.4M | $1.6B | ||
| Q2 24 | — | $1.3B |
总债务FULSWKS
| Q1 26 | — | $496.6M | ||
| Q4 25 | — | $496.4M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $496.2M | ||
| Q1 25 | — | $995.1M | ||
| Q4 24 | — | $994.7M | ||
| Q3 24 | — | $994.3M | ||
| Q2 24 | — | $994.0M |
股东权益FULSWKS
| Q1 26 | — | $5.8B | ||
| Q4 25 | — | $5.8B | ||
| Q3 25 | $2.0B | — | ||
| Q2 25 | $1.9B | $5.7B | ||
| Q1 25 | — | $5.9B | ||
| Q4 24 | — | $6.4B | ||
| Q3 24 | $1.8B | $6.3B | ||
| Q2 24 | — | $6.3B |
总资产FULSWKS
| Q1 26 | — | $7.9B | ||
| Q4 25 | — | $7.9B | ||
| Q3 25 | $5.2B | — | ||
| Q2 25 | $5.1B | $7.7B | ||
| Q1 25 | — | $7.9B | ||
| Q4 24 | — | $8.3B | ||
| Q3 24 | $5.0B | $8.3B | ||
| Q2 24 | — | $8.2B |
负债/权益比FULSWKS
| Q1 26 | — | 0.09× | ||
| Q4 25 | — | 0.09× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.09× | ||
| Q1 25 | — | 0.17× | ||
| Q4 24 | — | 0.16× | ||
| Q3 24 | — | 0.16× | ||
| Q2 24 | — | 0.16× |
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 | $395.5M |
| 自由现金流经营现金流 - 资本支出 | $68.9M | $339.0M |
| 自由现金流率自由现金流/营收 | 7.7% | 32.7% |
| 资本支出强度资本支出/营收 | 3.4% | 5.5% |
| 现金转化率经营现金流/净利润 | 1.47× | 4.99× |
| 过去12个月自由现金流最近4个季度 | — | $1.1B |
8季度趋势，按日历期对齐
经营现金流FULSWKS
| Q1 26 | — | $395.5M | ||
| Q4 25 | — | $200.0M | ||
| Q3 25 | $99.0M | — | ||
| Q2 25 | — | $314.2M | ||
| Q1 25 | — | $409.4M | ||
| Q4 24 | — | $377.2M | ||
| Q3 24 | $169.4M | $476.1M | ||
| Q2 24 | — | $273.4M |
自由现金流FULSWKS
| Q1 26 | — | $339.0M | ||
| Q4 25 | — | $144.0M | ||
| Q3 25 | $68.9M | — | ||
| Q2 25 | — | $252.7M | ||
| Q1 25 | — | $370.9M | ||
| Q4 24 | — | $338.2M | ||
| Q3 24 | $99.9M | $393.3M | ||
| Q2 24 | — | $249.0M |
自由现金流率FULSWKS
| Q1 26 | — | 32.7% | ||
| Q4 25 | — | 13.1% | ||
| Q3 25 | 7.7% | — | ||
| Q2 25 | — | 26.2% | ||
| Q1 25 | — | 38.9% | ||
| Q4 24 | — | 31.7% | ||
| Q3 24 | 10.9% | 38.4% | ||
| Q2 24 | — | 27.5% |
资本支出强度FULSWKS
| Q1 26 | — | 5.5% | ||
| Q4 25 | — | 5.1% | ||
| Q3 25 | 3.4% | — | ||
| Q2 25 | — | 6.4% | ||
| Q1 25 | — | 4.0% | ||
| Q4 24 | — | 3.6% | ||
| Q3 24 | 7.6% | 8.1% | ||
| Q2 24 | — | 2.7% |
现金转化率FULSWKS
| Q1 26 | — | 4.99× | ||
| Q4 25 | — | 1.41× | ||
| Q3 25 | 1.47× | — | ||
| Q2 25 | — | 2.99× | ||
| Q1 25 | — | 5.96× | ||
| Q4 24 | — | 2.33× | ||
| Q3 24 | 3.06× | 7.87× | ||
| Q2 24 | — | 2.26× |
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% |
SWKS
| Sales Channel Through Intermediary | $915.6M | 88% |
| Sales Channel Directly To Consumer | $119.8M | 12% |
