vs
FULLER H B CO（FUL）与Ubiquiti Inc.（UI）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Ubiquiti Inc.的1.1倍（$892.0M vs $814.9M），Ubiquiti Inc.净利率更高（28.7% vs 7.5%，领先21.1%），Ubiquiti Inc.同比增速更快（35.8% vs -2.8%），Ubiquiti Inc.自由现金流更多（$260.3M vs $68.9M），过去两年Ubiquiti Inc.的营收复合增速更高（28.6% 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。
Ubiquiti Inc.是一家美国科技企业，2003年于加利福尼亚州圣何塞成立，目前总部位于纽约。公司旗下拥有多个品牌，主营面向企业及家庭用户的有线、无线数据通信产品的研发、生产与销售。
FUL vs UI — 直观对比
营收规模更大
FUL
是对方的1.1倍
$814.9M
营收增速更快
UI
高出38.7%
-2.8%
净利率更高
UI
高出21.1%
7.5%
自由现金流更多
UI
多$191.3M
$68.9M
两年增速更快
UI
近两年复合增速
5.0%
损益表 — Q3 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $892.0M | $814.9M |
| 净利润 | $67.2M | $233.6M |
| 毛利率 | 32.0% | 45.9% |
| 营业利润率 | 12.3% | 35.9% |
| 净利率 | 7.5% | 28.7% |
| 营收同比 | -2.8% | 35.8% |
| 净利润同比 | 21.3% | 70.8% |
| 每股收益（稀释后） | $1.22 | $3.86 |
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FULUI
| Q4 25 | — | $814.9M | ||
| Q3 25 | $892.0M | $733.8M | ||
| Q2 25 | $898.1M | $759.2M | ||
| Q1 25 | — | $664.2M | ||
| Q4 24 | — | $599.9M | ||
| Q3 24 | $917.9M | $550.3M | ||
| Q2 24 | — | $507.5M | ||
| Q1 24 | $810.4M | $493.0M |
净利润FULUI
| Q4 25 | — | $233.6M | ||
| Q3 25 | $67.2M | $207.9M | ||
| Q2 25 | $41.8M | $266.7M | ||
| Q1 25 | — | $180.4M | ||
| Q4 24 | — | $136.8M | ||
| Q3 24 | $55.4M | $128.0M | ||
| Q2 24 | — | $103.8M | ||
| Q1 24 | $31.0M | $76.3M |
毛利率FULUI
| Q4 25 | — | 45.9% | ||
| Q3 25 | 32.0% | 46.0% | ||
| Q2 25 | 31.9% | 45.1% | ||
| Q1 25 | — | 44.5% | ||
| Q4 24 | — | 41.2% | ||
| Q3 24 | 30.0% | 42.1% | ||
| Q2 24 | — | 40.2% | ||
| Q1 24 | 29.5% | 35.3% |
营业利润率FULUI
| Q4 25 | — | 35.9% | ||
| Q3 25 | 12.3% | 35.7% | ||
| Q2 25 | 11.1% | 34.4% | ||
| Q1 25 | — | 34.2% | ||
| Q4 24 | — | 29.8% | ||
| Q3 24 | 11.4% | 30.7% | ||
| Q2 24 | — | 27.3% | ||
| Q1 24 | 8.3% | 22.6% |
净利率FULUI
| Q4 25 | — | 28.7% | ||
| Q3 25 | 7.5% | 28.3% | ||
| Q2 25 | 4.7% | 35.1% | ||
| Q1 25 | — | 27.2% | ||
| Q4 24 | — | 22.8% | ||
| Q3 24 | 6.0% | 23.3% | ||
| Q2 24 | — | 20.5% | ||
| Q1 24 | 3.8% | 15.5% |
每股收益（稀释后）FULUI
| Q4 25 | — | $3.86 | ||
| Q3 25 | $1.22 | $3.43 | ||
| Q2 25 | $0.76 | $4.40 | ||
| Q1 25 | — | $2.98 | ||
| Q4 24 | — | $2.26 | ||
| Q3 24 | $0.98 | $2.12 | ||
| Q2 24 | — | $1.72 | ||
| Q1 24 | $0.55 | $1.26 |
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 | $302.8M |
| 总债务越低越好 | — | $47.5M |
| 股东权益账面价值 | $2.0B | $1.0B |
| 总资产 | $5.2B | $1.6B |
| 负债/权益比越低杠杆越低 | — | 0.05× |
8季度趋势，按日历期对齐
现金及短期投资FULUI
| Q4 25 | — | $302.8M | ||
| Q3 25 | $122.5M | $177.2M | ||
| Q2 25 | $96.8M | $149.7M | ||
| Q1 25 | — | $151.0M | ||
| Q4 24 | — | $133.1M | ||
| Q3 24 | $131.4M | $165.2M | ||
| Q2 24 | — | $126.3M | ||
| Q1 24 | $165.2M | $102.5M |
总债务FULUI
| Q4 25 | — | $47.5M | ||
| Q3 25 | — | $133.8M | ||
| Q2 25 | — | $250.0M | ||
| Q1 25 | — | $340.0M | ||
| Q4 24 | — | $406.3M | ||
| Q3 24 | — | $552.5M | ||
| Q2 24 | — | $708.1M | ||
| Q1 24 | — | $877.5M |
股东权益FULUI
| Q4 25 | — | $1.0B | ||
| Q3 25 | $2.0B | $828.4M | ||
| Q2 25 | $1.9B | $668.3M | ||
| Q1 25 | — | $436.1M | ||
| Q4 24 | — | $290.4M | ||
| Q3 24 | $1.8B | $188.1M | ||
| Q2 24 | — | $95.1M | ||
| Q1 24 | $1.8B | $25.9M |
总资产FULUI
| Q4 25 | — | $1.6B | ||
| Q3 25 | $5.2B | $1.5B | ||
| Q2 25 | $5.1B | $1.5B | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | $5.0B | $1.2B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | $4.7B | $1.2B |
负债/权益比FULUI
| Q4 25 | — | 0.05× | ||
| Q3 25 | — | 0.16× | ||
| Q2 25 | — | 0.37× | ||
| Q1 25 | — | 0.78× | ||
| Q4 24 | — | 1.40× | ||
| Q3 24 | — | 2.94× | ||
| Q2 24 | — | 7.45× | ||
| Q1 24 | — | 33.92× |
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 | $263.9M |
| 自由现金流经营现金流 - 资本支出 | $68.9M | $260.3M |
| 自由现金流率自由现金流/营收 | 7.7% | 31.9% |
| 资本支出强度资本支出/营收 | 3.4% | 0.4% |
| 现金转化率经营现金流/净利润 | 1.47× | 1.13× |
| 过去12个月自由现金流最近4个季度 | — | $699.5M |
8季度趋势，按日历期对齐
经营现金流FULUI
| Q4 25 | — | $263.9M | ||
| Q3 25 | $99.0M | $198.5M | ||
| Q2 25 | — | $130.4M | ||
| Q1 25 | — | $123.6M | ||
| Q4 24 | — | $152.4M | ||
| Q3 24 | $169.4M | $233.7M | ||
| Q2 24 | — | $231.4M | ||
| Q1 24 | $47.4M | $163.9M |
自由现金流FULUI
| Q4 25 | — | $260.3M | ||
| Q3 25 | $68.9M | $193.3M | ||
| Q2 25 | — | $125.2M | ||
| Q1 25 | — | $120.7M | ||
| Q4 24 | — | $150.4M | ||
| Q3 24 | $99.9M | $231.1M | ||
| Q2 24 | — | $229.5M | ||
| Q1 24 | $4.1M | $160.6M |
自由现金流率FULUI
| Q4 25 | — | 31.9% | ||
| Q3 25 | 7.7% | 26.3% | ||
| Q2 25 | — | 16.5% | ||
| Q1 25 | — | 18.2% | ||
| Q4 24 | — | 25.1% | ||
| Q3 24 | 10.9% | 42.0% | ||
| Q2 24 | — | 45.2% | ||
| Q1 24 | 0.5% | 32.6% |
资本支出强度FULUI
| Q4 25 | — | 0.4% | ||
| Q3 25 | 3.4% | 0.7% | ||
| Q2 25 | — | 0.7% | ||
| Q1 25 | — | 0.4% | ||
| Q4 24 | — | 0.3% | ||
| Q3 24 | 7.6% | 0.5% | ||
| Q2 24 | — | 0.4% | ||
| Q1 24 | 5.3% | 0.7% |
现金转化率FULUI
| Q4 25 | — | 1.13× | ||
| Q3 25 | 1.47× | 0.95× | ||
| Q2 25 | — | 0.49× | ||
| Q1 25 | — | 0.68× | ||
| Q4 24 | — | 1.11× | ||
| Q3 24 | 3.06× | 1.83× | ||
| Q2 24 | — | 2.23× | ||
| Q1 24 | 1.53× | 2.15× |
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% |
UI
| Enterprise Technology | $729.0M | 89% |
| Service Provider Technology | $85.9M | 11% |
