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FULLER H B CO（FUL）与Toast, Inc.（TOST）财务数据对比。点击上方公司名可切换其他公司
Toast, Inc.的季度营收约是FULLER H B CO的1.8倍（$1.6B vs $892.0M），FULLER H B CO净利率更高（7.5% vs 6.2%，领先1.3%），Toast, Inc.同比增速更快（22.0% vs -2.8%），Toast, Inc.自由现金流更多（$178.0M vs $68.9M），过去两年Toast, Inc.的营收复合增速更高（23.3% 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。
Toast, Inc.是总部位于美国马萨诸塞州波士顿的云餐饮管理软件企业，主打基于安卓操作系统研发的一体化销售点（POS）系统，可为餐饮商家提供涵盖收银、订单管理等在内的全场景门店经营解决方案。
FUL vs TOST — 直观对比
营收规模更大
TOST
是对方的1.8倍
$892.0M
营收增速更快
TOST
高出24.9%
-2.8%
净利率更高
FUL
高出1.3%
6.2%
自由现金流更多
TOST
多$109.1M
$68.9M
两年增速更快
TOST
近两年复合增速
5.0%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $892.0M | $1.6B |
| 净利润 | $67.2M | $101.0M |
| 毛利率 | 32.0% | 25.9% |
| 营业利润率 | 12.3% | 5.2% |
| 净利率 | 7.5% | 6.2% |
| 营收同比 | -2.8% | 22.0% |
| 净利润同比 | 21.3% | 215.6% |
| 每股收益（稀释后） | $1.22 | $0.18 |
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FULTOST
| Q4 25 | — | $1.6B | ||
| Q3 25 | $892.0M | $1.6B | ||
| Q2 25 | $898.1M | $1.6B | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | $917.9M | $1.3B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | $810.4M | $1.1B |
净利润FULTOST
| Q4 25 | — | $101.0M | ||
| Q3 25 | $67.2M | $105.0M | ||
| Q2 25 | $41.8M | $80.0M | ||
| Q1 25 | — | $56.0M | ||
| Q4 24 | — | $32.0M | ||
| Q3 24 | $55.4M | $56.0M | ||
| Q2 24 | — | $14.0M | ||
| Q1 24 | $31.0M | $-83.0M |
毛利率FULTOST
| Q4 25 | — | 25.9% | ||
| Q3 25 | 32.0% | 26.5% | ||
| Q2 25 | 31.9% | 25.3% | ||
| Q1 25 | — | 25.9% | ||
| Q4 24 | — | 24.9% | ||
| Q3 24 | 30.0% | 24.7% | ||
| Q2 24 | — | 23.0% | ||
| Q1 24 | 29.5% | 23.2% |
营业利润率FULTOST
| Q4 25 | — | 5.2% | ||
| Q3 25 | 12.3% | 5.1% | ||
| Q2 25 | 11.1% | 5.2% | ||
| Q1 25 | — | 3.2% | ||
| Q4 24 | — | 2.5% | ||
| Q3 24 | 11.4% | 2.6% | ||
| Q2 24 | — | 0.4% | ||
| Q1 24 | 8.3% | -5.2% |
净利率FULTOST
| Q4 25 | — | 6.2% | ||
| Q3 25 | 7.5% | 6.4% | ||
| Q2 25 | 4.7% | 5.2% | ||
| Q1 25 | — | 4.2% | ||
| Q4 24 | — | 2.4% | ||
| Q3 24 | 6.0% | 4.3% | ||
| Q2 24 | — | 1.1% | ||
| Q1 24 | 3.8% | -7.7% |
每股收益（稀释后）FULTOST
| Q4 25 | — | $0.18 | ||
| Q3 25 | $1.22 | $0.16 | ||
| Q2 25 | $0.76 | $0.13 | ||
| Q1 25 | — | $0.09 | ||
| Q4 24 | — | $0.09 | ||
| Q3 24 | $0.98 | $0.07 | ||
| Q2 24 | — | $0.02 | ||
| Q1 24 | $0.55 | $-0.15 |
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 | $1.4B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.0B | $2.1B |
| 总资产 | $5.2B | $3.1B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资FULTOST
| Q4 25 | — | $1.4B | ||
| Q3 25 | $122.5M | $1.4B | ||
| Q2 25 | $96.8M | $1.2B | ||
| Q1 25 | — | $1.0B | ||
| Q4 24 | — | $903.0M | ||
| Q3 24 | $131.4M | $761.0M | ||
| Q2 24 | — | $691.0M | ||
| Q1 24 | $165.2M | $578.0M |
股东权益FULTOST
| Q4 25 | — | $2.1B | ||
| Q3 25 | $2.0B | $2.0B | ||
| Q2 25 | $1.9B | $1.8B | ||
| Q1 25 | — | $1.7B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | $1.8B | $1.4B | ||
| Q2 24 | — | $1.3B | ||
| Q1 24 | $1.8B | $1.2B |
总资产FULTOST
| Q4 25 | — | $3.1B | ||
| Q3 25 | $5.2B | $3.0B | ||
| Q2 25 | $5.1B | $2.8B | ||
| Q1 25 | — | $2.6B | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | $5.0B | $2.2B | ||
| Q2 24 | — | $2.2B | ||
| Q1 24 | $4.7B | $2.1B |
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 | $194.0M |
| 自由现金流经营现金流 - 资本支出 | $68.9M | $178.0M |
| 自由现金流率自由现金流/营收 | 7.7% | 10.9% |
| 资本支出强度资本支出/营收 | 3.4% | 1.0% |
| 现金转化率经营现金流/净利润 | 1.47× | 1.92× |
| 过去12个月自由现金流最近4个季度 | — | $608.0M |
8季度趋势，按日历期对齐
经营现金流FULTOST
| Q4 25 | — | $194.0M | ||
| Q3 25 | $99.0M | $165.0M | ||
| Q2 25 | — | $223.0M | ||
| Q1 25 | — | $79.0M | ||
| Q4 24 | — | $147.0M | ||
| Q3 24 | $169.4M | $109.0M | ||
| Q2 24 | — | $124.0M | ||
| Q1 24 | $47.4M | $-20.0M |
自由现金流FULTOST
| Q4 25 | — | $178.0M | ||
| Q3 25 | $68.9M | $153.0M | ||
| Q2 25 | — | $208.0M | ||
| Q1 25 | — | $69.0M | ||
| Q4 24 | — | $134.0M | ||
| Q3 24 | $99.9M | $97.0M | ||
| Q2 24 | — | $108.0M | ||
| Q1 24 | $4.1M | $-33.0M |
自由现金流率FULTOST
| Q4 25 | — | 10.9% | ||
| Q3 25 | 7.7% | 9.4% | ||
| Q2 25 | — | 13.4% | ||
| Q1 25 | — | 5.2% | ||
| Q4 24 | — | 10.0% | ||
| Q3 24 | 10.9% | 7.4% | ||
| Q2 24 | — | 8.7% | ||
| Q1 24 | 0.5% | -3.1% |
资本支出强度FULTOST
| Q4 25 | — | 1.0% | ||
| Q3 25 | 3.4% | 0.7% | ||
| Q2 25 | — | 1.0% | ||
| Q1 25 | — | 0.7% | ||
| Q4 24 | — | 1.0% | ||
| Q3 24 | 7.6% | 0.9% | ||
| Q2 24 | — | 1.3% | ||
| Q1 24 | 5.3% | 1.2% |
现金转化率FULTOST
| Q4 25 | — | 1.92× | ||
| Q3 25 | 1.47× | 1.57× | ||
| Q2 25 | — | 2.79× | ||
| Q1 25 | — | 1.41× | ||
| Q4 24 | — | 4.59× | ||
| Q3 24 | 3.06× | 1.95× | ||
| Q2 24 | — | 8.86× | ||
| 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% |
TOST
| Technology Service | $1.3B | 82% |
| License | $256.0M | 16% |
| Product And Professional Services | $43.0M | 3% |
