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FULLER H B CO（FUL）与Vestis Corp（VSTS）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Vestis Corp的1.3倍（$892.0M vs $663.4M），FULLER H B CO净利率更高（7.5% vs -1.0%，领先8.5%），FULLER H B CO同比增速更快（-2.8% vs -3.0%），FULLER H B CO自由现金流更多（$68.9M vs $28.3M），过去两年FULLER H B CO的营收复合增速更高（5.0% vs -3.0%）
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。
Vestis Corp是北美领先的工作制服、安全防护服饰及配套设施服务供应商，服务覆盖医疗、制造、零售、餐饮住宿、公共服务等多个领域，为企业客户提供定制化的制服租赁、清洁与日常维护解决方案。
FUL vs VSTS — 直观对比
营收规模更大
FUL
是对方的1.3倍
$663.4M
营收增速更快
FUL
高出0.2%
-3.0%
净利率更高
FUL
高出8.5%
-1.0%
自由现金流更多
FUL
多$40.6M
$28.3M
两年增速更快
FUL
近两年复合增速
-3.0%
损益表 — Q3 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $892.0M | $663.4M |
| 净利润 | $67.2M | $-6.4M |
| 毛利率 | 32.0% | — |
| 营业利润率 | 12.3% | 2.5% |
| 净利率 | 7.5% | -1.0% |
| 营收同比 | -2.8% | -3.0% |
| 净利润同比 | 21.3% | -868.1% |
| 每股收益（稀释后） | $1.22 | $-0.05 |
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FULVSTS
| Q1 26 | — | $663.4M | ||
| Q4 25 | — | $712.0M | ||
| Q3 25 | $892.0M | — | ||
| Q2 25 | $898.1M | $673.8M | ||
| Q1 25 | — | $665.2M | ||
| Q4 24 | — | $683.8M | ||
| Q3 24 | $917.9M | $684.3M | ||
| Q2 24 | — | $698.2M |
净利润FULVSTS
| Q1 26 | — | $-6.4M | ||
| Q4 25 | — | $-12.5M | ||
| Q3 25 | $67.2M | — | ||
| Q2 25 | $41.8M | $-676.0K | ||
| Q1 25 | — | $-27.8M | ||
| Q4 24 | — | $832.0K | ||
| Q3 24 | $55.4M | $-2.3M | ||
| Q2 24 | — | $5.0M |
毛利率FULVSTS
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 32.0% | — | ||
| Q2 25 | 31.9% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 30.0% | — | ||
| Q2 24 | — | — |
营业利润率FULVSTS
| Q1 26 | — | 2.5% | ||
| Q4 25 | — | 2.5% | ||
| Q3 25 | 12.3% | — | ||
| Q2 25 | 11.1% | 3.7% | ||
| Q1 25 | — | -1.3% | ||
| Q4 24 | — | 4.4% | ||
| Q3 24 | 11.4% | 4.4% | ||
| Q2 24 | — | 5.4% |
净利率FULVSTS
| Q1 26 | — | -1.0% | ||
| Q4 25 | — | -1.8% | ||
| Q3 25 | 7.5% | — | ||
| Q2 25 | 4.7% | -0.1% | ||
| Q1 25 | — | -4.2% | ||
| Q4 24 | — | 0.1% | ||
| Q3 24 | 6.0% | -0.3% | ||
| Q2 24 | — | 0.7% |
每股收益（稀释后）FULVSTS
| Q1 26 | — | $-0.05 | ||
| Q4 25 | — | $-0.10 | ||
| Q3 25 | $1.22 | — | ||
| Q2 25 | $0.76 | $-0.01 | ||
| Q1 25 | — | $-0.21 | ||
| Q4 24 | — | $0.01 | ||
| Q3 24 | $0.98 | $-0.02 | ||
| Q2 24 | — | $0.04 |
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 | $41.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.0B | $864.4M |
| 总资产 | $5.2B | $2.9B |
| 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FULVSTS
| Q1 26 | — | $41.5M | ||
| Q4 25 | — | $29.7M | ||
| Q3 25 | $122.5M | — | ||
| Q2 25 | $96.8M | $23.7M | ||
| Q1 25 | — | $28.8M | ||
| Q4 24 | — | $18.6M | ||
| Q3 24 | $131.4M | $31.0M | ||
| Q2 24 | — | $29.1M |
总债务FULVSTS
| Q1 26 | — | — | ||
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | — |
股东权益FULVSTS
| Q1 26 | — | $864.4M | ||
| Q4 25 | — | $865.6M | ||
| Q3 25 | $2.0B | — | ||
| Q2 25 | $1.9B | $882.2M | ||
| Q1 25 | — | $876.3M | ||
| Q4 24 | — | $899.6M | ||
| Q3 24 | $1.8B | $903.1M | ||
| Q2 24 | — | $901.2M |
总资产FULVSTS
| Q1 26 | — | $2.9B | ||
| Q4 25 | — | $2.9B | ||
| Q3 25 | $5.2B | — | ||
| Q2 25 | $5.1B | $2.9B | ||
| Q1 25 | — | $2.9B | ||
| Q4 24 | — | $2.9B | ||
| Q3 24 | $5.0B | $2.9B | ||
| Q2 24 | — | $3.1B |
负债/权益比FULVSTS
| Q1 26 | — | — | ||
| Q4 25 | — | 1.35× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.29× | ||
| Q2 24 | — | — |
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 | $37.7M |
| 自由现金流经营现金流 - 资本支出 | $68.9M | $28.3M |
| 自由现金流率自由现金流/营收 | 7.7% | 4.3% |
| 资本支出强度资本支出/营收 | 3.4% | 1.4% |
| 现金转化率经营现金流/净利润 | 1.47× | — |
| 过去12个月自由现金流最近4个季度 | — | $45.0M |
8季度趋势，按日历期对齐
经营现金流FULVSTS
| Q1 26 | — | $37.7M | ||
| Q4 25 | — | $30.9M | ||
| Q3 25 | $99.0M | — | ||
| Q2 25 | — | $22.9M | ||
| Q1 25 | — | $6.7M | ||
| Q4 24 | — | $3.8M | ||
| Q3 24 | $169.4M | $295.6M | ||
| Q2 24 | — | $48.7M |
自由现金流FULVSTS
| Q1 26 | — | $28.3M | ||
| Q4 25 | — | $15.6M | ||
| Q3 25 | $68.9M | — | ||
| Q2 25 | — | $8.0M | ||
| Q1 25 | — | $-6.9M | ||
| Q4 24 | — | $-11.0M | ||
| Q3 24 | $99.9M | $267.5M | ||
| Q2 24 | — | $27.7M |
自由现金流率FULVSTS
| Q1 26 | — | 4.3% | ||
| Q4 25 | — | 2.2% | ||
| Q3 25 | 7.7% | — | ||
| Q2 25 | — | 1.2% | ||
| Q1 25 | — | -1.0% | ||
| Q4 24 | — | -1.6% | ||
| Q3 24 | 10.9% | 39.1% | ||
| Q2 24 | — | 4.0% |
资本支出强度FULVSTS
| Q1 26 | — | 1.4% | ||
| Q4 25 | — | 2.2% | ||
| Q3 25 | 3.4% | — | ||
| Q2 25 | — | 2.2% | ||
| Q1 25 | — | 2.0% | ||
| Q4 24 | — | 2.2% | ||
| Q3 24 | 7.6% | 4.1% | ||
| Q2 24 | — | 3.0% |
现金转化率FULVSTS
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 1.47× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 4.54× | ||
| Q3 24 | 3.06× | — | ||
| Q2 24 | — | 9.66× |
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% |
VSTS
| Workplace Supplies | $375.2M | 57% |
| Uniforms | $227.7M | 34% |
| Other | $60.5M | 9% |
