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FULLER H B CO（FUL）与Tyler Technologies（TYL）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Tyler Technologies的1.5倍（$892.0M vs $613.5M），Tyler Technologies净利率更高（13.2% vs 7.5%，领先5.7%），Tyler Technologies同比增速更快（8.6% vs -2.8%），FULLER H B CO自由现金流更多（$68.9M vs $2.0M），过去两年Tyler Technologies的营收复合增速更高（6.5% 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。
Tyler Technologies, Inc.是总部位于美国得克萨斯州普莱诺的科技企业，主营面向美国公共部门提供自研专有软件，目前在全美17个州设有办事处，另在加拿大安大略省多伦多市设有一处办公网点。
FUL vs TYL — 直观对比
营收规模更大
FUL
是对方的1.5倍
$613.5M
营收增速更快
TYL
高出11.4%
-2.8%
净利率更高
TYL
高出5.7%
7.5%
自由现金流更多
FUL
多$66.9M
$2.0M
两年增速更快
TYL
近两年复合增速
5.0%
损益表 — Q3 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $892.0M | $613.5M |
| 净利润 | $67.2M | $81.2M |
| 毛利率 | 32.0% | 48.3% |
| 营业利润率 | 12.3% | 16.3% |
| 净利率 | 7.5% | 13.2% |
| 营收同比 | -2.8% | 8.6% |
| 净利润同比 | 21.3% | — |
| 每股收益（稀释后） | $1.22 | $1.88 |
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FULTYL
| Q1 26 | — | $613.5M | ||
| Q4 25 | — | $575.2M | ||
| Q3 25 | $892.0M | $595.9M | ||
| Q2 25 | $898.1M | $596.1M | ||
| Q1 25 | — | $565.2M | ||
| Q4 24 | — | $541.1M | ||
| Q3 24 | $917.9M | $543.3M | ||
| Q2 24 | — | $541.0M |
净利润FULTYL
| Q1 26 | — | $81.2M | ||
| Q4 25 | — | $65.5M | ||
| Q3 25 | $67.2M | $84.4M | ||
| Q2 25 | $41.8M | $84.6M | ||
| Q1 25 | — | $81.1M | ||
| Q4 24 | — | $65.2M | ||
| Q3 24 | $55.4M | $75.9M | ||
| Q2 24 | — | $67.7M |
毛利率FULTYL
| Q1 26 | — | 48.3% | ||
| Q4 25 | — | 45.5% | ||
| Q3 25 | 32.0% | 47.2% | ||
| Q2 25 | 31.9% | 45.8% | ||
| Q1 25 | — | 47.3% | ||
| Q4 24 | — | 43.8% | ||
| Q3 24 | 30.0% | 43.7% | ||
| Q2 24 | — | 44.0% |
营业利润率FULTYL
| Q1 26 | — | 16.3% | ||
| Q4 25 | — | 13.0% | ||
| Q3 25 | 12.3% | 16.4% | ||
| Q2 25 | 11.1% | 16.0% | ||
| Q1 25 | — | 15.8% | ||
| Q4 24 | — | 13.2% | ||
| Q3 24 | 11.4% | 15.2% | ||
| Q2 24 | — | 14.4% |
净利率FULTYL
| Q1 26 | — | 13.2% | ||
| Q4 25 | — | 11.4% | ||
| Q3 25 | 7.5% | 14.2% | ||
| Q2 25 | 4.7% | 14.2% | ||
| Q1 25 | — | 14.3% | ||
| Q4 24 | — | 12.1% | ||
| Q3 24 | 6.0% | 14.0% | ||
| Q2 24 | — | 12.5% |
每股收益（稀释后）FULTYL
| Q1 26 | — | $1.88 | ||
| Q4 25 | — | $1.50 | ||
| Q3 25 | $1.22 | $1.93 | ||
| Q2 25 | $0.76 | $1.93 | ||
| Q1 25 | — | $1.84 | ||
| Q4 24 | — | $1.48 | ||
| Q3 24 | $0.98 | $1.74 | ||
| Q2 24 | — | $1.57 |
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 | $346.4M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.0B | $3.6B |
| 总资产 | $5.2B | $4.8B |
| 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FULTYL
| Q1 26 | — | $346.4M | ||
| Q4 25 | — | $1.1B | ||
| Q3 25 | $122.5M | $950.8M | ||
| Q2 25 | $96.8M | $892.3M | ||
| Q1 25 | — | $807.4M | ||
| Q4 24 | — | $768.0M | ||
| Q3 24 | $131.4M | $544.3M | ||
| Q2 24 | — | $258.0M |
总债务FULTYL
| Q1 26 | — | — | ||
| Q4 25 | — | $599.7M | ||
| Q3 25 | — | $599.2M | ||
| Q2 25 | — | $598.8M | ||
| Q1 25 | — | $598.4M | ||
| Q4 24 | — | $597.9M | ||
| Q3 24 | — | $597.5M | ||
| Q2 24 | — | $597.1M |
股东权益FULTYL
| Q1 26 | — | $3.6B | ||
| Q4 25 | — | $3.7B | ||
| Q3 25 | $2.0B | $3.6B | ||
| Q2 25 | $1.9B | $3.6B | ||
| Q1 25 | — | $3.5B | ||
| Q4 24 | — | $3.4B | ||
| Q3 24 | $1.8B | $3.3B | ||
| Q2 24 | — | $3.1B |
总资产FULTYL
| Q1 26 | — | $4.8B | ||
| Q4 25 | — | $5.6B | ||
| Q3 25 | $5.2B | $5.5B | ||
| Q2 25 | $5.1B | $5.4B | ||
| Q1 25 | — | $5.2B | ||
| Q4 24 | — | $5.2B | ||
| Q3 24 | $5.0B | $5.0B | ||
| Q2 24 | — | $4.8B |
负债/权益比FULTYL
| Q1 26 | — | — | ||
| Q4 25 | — | 0.16× | ||
| Q3 25 | — | 0.17× | ||
| Q2 25 | — | 0.16× | ||
| Q1 25 | — | 0.17× | ||
| Q4 24 | — | 0.18× | ||
| Q3 24 | — | 0.18× | ||
| Q2 24 | — | 0.19× |
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 | $107.3M |
| 自由现金流经营现金流 - 资本支出 | $68.9M | $2.0M |
| 自由现金流率自由现金流/营收 | 7.7% | 0.3% |
| 资本支出强度资本支出/营收 | 3.4% | — |
| 现金转化率经营现金流/净利润 | 1.47× | 1.32× |
| 过去12个月自由现金流最近4个季度 | — | $585.7M |
8季度趋势，按日历期对齐
经营现金流FULTYL
| Q1 26 | — | $107.3M | ||
| Q4 25 | — | $243.9M | ||
| Q3 25 | $99.0M | $255.2M | ||
| Q2 25 | — | $98.3M | ||
| Q1 25 | — | $56.2M | ||
| Q4 24 | — | $224.8M | ||
| Q3 24 | $169.4M | $263.7M | ||
| Q2 24 | — | $64.3M |
自由现金流FULTYL
| Q1 26 | — | $2.0M | ||
| Q4 25 | — | $239.6M | ||
| Q3 25 | $68.9M | $251.3M | ||
| Q2 25 | — | $92.8M | ||
| Q1 25 | — | $53.8M | ||
| Q4 24 | — | $221.0M | ||
| Q3 24 | $99.9M | $260.8M | ||
| Q2 24 | — | $57.7M |
自由现金流率FULTYL
| Q1 26 | — | 0.3% | ||
| Q4 25 | — | 41.7% | ||
| Q3 25 | 7.7% | 42.2% | ||
| Q2 25 | — | 15.6% | ||
| Q1 25 | — | 9.5% | ||
| Q4 24 | — | 40.8% | ||
| Q3 24 | 10.9% | 48.0% | ||
| Q2 24 | — | 10.7% |
资本支出强度FULTYL
| Q1 26 | — | — | ||
| Q4 25 | — | 0.8% | ||
| Q3 25 | 3.4% | 0.7% | ||
| Q2 25 | — | 0.9% | ||
| Q1 25 | — | 0.4% | ||
| Q4 24 | — | 0.7% | ||
| Q3 24 | 7.6% | 0.5% | ||
| Q2 24 | — | 1.2% |
现金转化率FULTYL
| Q1 26 | — | 1.32× | ||
| Q4 25 | — | 3.72× | ||
| Q3 25 | 1.47× | 3.02× | ||
| Q2 25 | — | 1.16× | ||
| Q1 25 | — | 0.69× | ||
| Q4 24 | — | 3.45× | ||
| Q3 24 | 3.06× | 3.47× | ||
| Q2 24 | — | 0.95× |
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% |
TYL
| Subscriptions | $429.7M | 70% |
| Maintenance | $108.9M | 18% |
| Other | $74.9M | 12% |
