vs
盖璞（GAP）与汉瑞祥（HSIC）财务数据对比。点击上方公司名可切换其他公司
盖璞的季度营收约是汉瑞祥的1.1倍（$3.9B vs $3.4B），盖璞净利率更高（6.0% vs 2.9%，领先3.0%），汉瑞祥同比增速更快（7.7% vs 3.0%），汉瑞祥自由现金流更多（$338.0M vs $153.0M），过去两年汉瑞祥的营收复合增速更高（4.1% vs -4.2%）
盖璞（Gap Inc.）是总部位于美国加利福尼亚州旧金山的跨国服饰零售商，1969年由唐纳德·费舍尔与多丽丝·费舍尔创立，旗下拥有Gap、Banana Republic、Old Navy、Athleta四大核心品牌，是美国最大的服饰零售商之一，全球门店数量位列全球第三，仅次于Inditex集团和H&M。
汉瑞祥（Henry Schein, Inc.）是美国的医疗保健产品及服务分销商，业务覆盖全球33个国家和地区，是全球面向诊所类牙科及医疗从业者的最大医疗解决方案供应商。公司连续14年入选Ethisphere评选的「全球最具道德企业」榜单，2025年再次登榜。
GAP vs HSIC — 直观对比
营收规模更大
GAP
是对方的1.1倍
$3.4B
营收增速更快
HSIC
高出4.8%
3.0%
净利率更高
GAP
高出3.0%
2.9%
自由现金流更多
HSIC
多$185.0M
$153.0M
两年增速更快
HSIC
近两年复合增速
-4.2%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.9B | $3.4B |
| 净利润 | $236.0M | $101.0M |
| 毛利率 | 42.4% | 30.9% |
| 营业利润率 | 8.5% | 4.7% |
| 净利率 | 6.0% | 2.9% |
| 营收同比 | 3.0% | 7.7% |
| 净利润同比 | -13.9% | 7.4% |
| 每股收益（稀释后） | $0.62 | $0.85 |
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GAPHSIC
| Q4 25 | $3.9B | $3.4B | ||
| Q3 25 | $3.7B | $3.3B | ||
| Q2 25 | $3.5B | $3.2B | ||
| Q1 25 | $4.1B | $3.2B | ||
| Q4 24 | $3.8B | $3.2B | ||
| Q3 24 | $3.7B | $3.2B | ||
| Q2 24 | $3.4B | $3.1B | ||
| Q1 24 | $4.3B | $3.2B |
净利润GAPHSIC
| Q4 25 | $236.0M | $101.0M | ||
| Q3 25 | $216.0M | $101.0M | ||
| Q2 25 | $193.0M | $86.0M | ||
| Q1 25 | $206.0M | $110.0M | ||
| Q4 24 | $274.0M | $94.0M | ||
| Q3 24 | $206.0M | $99.0M | ||
| Q2 24 | $158.0M | $104.0M | ||
| Q1 24 | $185.0M | $93.0M |
毛利率GAPHSIC
| Q4 25 | 42.4% | 30.9% | ||
| Q3 25 | 41.2% | 30.7% | ||
| Q2 25 | 41.8% | 31.4% | ||
| Q1 25 | 38.9% | 31.6% | ||
| Q4 24 | 42.7% | 31.1% | ||
| Q3 24 | 42.6% | 31.3% | ||
| Q2 24 | 41.2% | 32.5% | ||
| Q1 24 | 38.9% | 31.9% |
营业利润率GAPHSIC
| Q4 25 | 8.5% | 4.7% | ||
| Q3 25 | 7.8% | 4.9% | ||
| Q2 25 | 7.5% | 4.7% | ||
| Q1 25 | 6.2% | 5.5% | ||
| Q4 24 | 9.3% | 4.9% | ||
| Q3 24 | 7.9% | 4.9% | ||
| Q2 24 | 6.1% | 5.1% | ||
| Q1 24 | 5.0% | 4.7% |
净利率GAPHSIC
| Q4 25 | 6.0% | 2.9% | ||
| Q3 25 | 5.8% | 3.0% | ||
| Q2 25 | 5.6% | 2.7% | ||
| Q1 25 | 5.0% | 3.5% | ||
| Q4 24 | 7.2% | 2.9% | ||
| Q3 24 | 5.5% | 3.1% | ||
| Q2 24 | 4.7% | 3.3% | ||
| Q1 24 | 4.3% | 2.9% |
每股收益（稀释后）GAPHSIC
| Q4 25 | $0.62 | $0.85 | ||
| Q3 25 | $0.57 | $0.84 | ||
| Q2 25 | $0.51 | $0.70 | ||
| Q1 25 | $0.53 | $0.88 | ||
| Q4 24 | $0.72 | $0.75 | ||
| Q3 24 | $0.54 | $0.78 | ||
| Q2 24 | $0.41 | $0.80 | ||
| Q1 24 | $0.49 | $0.72 |
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 | $2.5B | $156.0M |
| 总债务越低越好 | — | $2.3B |
| 股东权益账面价值 | $3.6B | $3.2B |
| 总资产 | $12.4B | $11.2B |
| 负债/权益比越低杠杆越低 | — | 0.71× |
8季度趋势，按日历期对齐
现金及短期投资GAPHSIC
| Q4 25 | $2.5B | $156.0M | ||
| Q3 25 | $2.4B | $136.0M | ||
| Q2 25 | $2.2B | $145.0M | ||
| Q1 25 | $2.6B | $127.0M | ||
| Q4 24 | $2.2B | $122.0M | ||
| Q3 24 | $2.1B | $126.0M | ||
| Q2 24 | $1.7B | $138.0M | ||
| Q1 24 | $1.9B | $159.0M |
总债务GAPHSIC
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | $2.2B | ||
| Q2 25 | — | $2.1B | ||
| Q1 25 | — | $2.0B | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | — | $1.9B | ||
| Q2 24 | — | $1.9B | ||
| Q1 24 | — | $2.0B |
股东权益GAPHSIC
| Q4 25 | $3.6B | $3.2B | ||
| Q3 25 | $3.4B | $3.4B | ||
| Q2 25 | $3.3B | $3.4B | ||
| Q1 25 | $3.3B | $3.3B | ||
| Q4 24 | $3.1B | $3.4B | ||
| Q3 24 | $2.9B | $3.5B | ||
| Q2 24 | $2.7B | $3.5B | ||
| Q1 24 | $2.6B | $3.6B |
总资产GAPHSIC
| Q4 25 | $12.4B | $11.2B | ||
| Q3 25 | $12.1B | $11.1B | ||
| Q2 25 | $11.6B | $10.9B | ||
| Q1 25 | $11.9B | $10.5B | ||
| Q4 24 | $11.9B | $10.2B | ||
| Q3 24 | $11.5B | $10.6B | ||
| Q2 24 | $10.9B | $10.3B | ||
| Q1 24 | $11.0B | $10.1B |
负债/权益比GAPHSIC
| Q4 25 | — | 0.71× | ||
| Q3 25 | — | 0.64× | ||
| Q2 25 | — | 0.61× | ||
| Q1 25 | — | 0.59× | ||
| Q4 24 | — | 0.54× | ||
| Q3 24 | — | 0.54× | ||
| Q2 24 | — | 0.54× | ||
| Q1 24 | — | 0.56× |
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 | $299.0M | $381.0M |
| 自由现金流经营现金流 - 资本支出 | $153.0M | $338.0M |
| 自由现金流率自由现金流/营收 | 3.9% | 9.8% |
| 资本支出强度资本支出/营收 | 3.7% | 1.3% |
| 现金转化率经营现金流/净利润 | 1.27× | 3.77× |
| 过去12个月自由现金流最近4个季度 | $779.0M | $573.0M |
8季度趋势，按日历期对齐
经营现金流GAPHSIC
| Q4 25 | $299.0M | $381.0M | ||
| Q3 25 | $448.0M | $174.0M | ||
| Q2 25 | $-140.0M | $120.0M | ||
| Q1 25 | $616.0M | $37.0M | ||
| Q4 24 | $291.0M | $204.0M | ||
| Q3 24 | $549.0M | $151.0M | ||
| Q2 24 | $30.0M | $296.0M | ||
| Q1 24 | $700.0M | $197.0M |
自由现金流GAPHSIC
| Q4 25 | $153.0M | $338.0M | ||
| Q3 25 | $350.0M | $141.0M | ||
| Q2 25 | $-223.0M | $88.0M | ||
| Q1 25 | $499.0M | $6.0M | ||
| Q4 24 | $143.0M | $168.0M | ||
| Q3 24 | $460.0M | $117.0M | ||
| Q2 24 | $-63.0M | $259.0M | ||
| Q1 24 | $568.0M | $156.0M |
自由现金流率GAPHSIC
| Q4 25 | 3.9% | 9.8% | ||
| Q3 25 | 9.4% | 4.2% | ||
| Q2 25 | -6.4% | 2.7% | ||
| Q1 25 | 12.0% | 0.2% | ||
| Q4 24 | 3.7% | 5.3% | ||
| Q3 24 | 12.4% | 3.7% | ||
| Q2 24 | -1.9% | 8.3% | ||
| Q1 24 | 13.2% | 4.9% |
资本支出强度GAPHSIC
| Q4 25 | 3.7% | 1.3% | ||
| Q3 25 | 2.6% | 1.0% | ||
| Q2 25 | 2.4% | 1.0% | ||
| Q1 25 | 2.8% | 1.0% | ||
| Q4 24 | 3.9% | 1.1% | ||
| Q3 24 | 2.4% | 1.1% | ||
| Q2 24 | 2.7% | 1.2% | ||
| Q1 24 | 3.1% | 1.3% |
现金转化率GAPHSIC
| Q4 25 | 1.27× | 3.77× | ||
| Q3 25 | 2.07× | 1.72× | ||
| Q2 25 | -0.73× | 1.40× | ||
| Q1 25 | 2.99× | 0.34× | ||
| Q4 24 | 1.06× | 2.17× | ||
| Q3 24 | 2.67× | 1.53× | ||
| Q2 24 | 0.19× | 2.85× | ||
| Q1 24 | 3.78× | 2.12× |
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
GAP
| Other | $2.2B | 55% |
| Online Sales | $1.6B | 40% |
| CA | $191.0M | 5% |
| Other Regions | $13.0M | 0% |
HSIC
| Global Dental Merchandise | $1.2B | 35% |
| Global Medical | $1.1B | 31% |
| Global Dental Equipment | $536.0M | 16% |
| Global Specialty Products | $422.0M | 12% |
| Global Technology | $173.0M | 5% |
| Global Value Added Services | $64.0M | 2% |
| Equity Method Investee | $14.0M | 0% |
