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Graham Holdings Co（GHC）与RPM INTERNATIONAL INC（RPM）财务数据对比。点击上方公司名可切换其他公司
RPM INTERNATIONAL INC的季度营收约是Graham Holdings Co的1.5倍（$1.9B vs $1.3B），Graham Holdings Co净利率更高（8.7% vs 8.4%，领先0.3%），RPM INTERNATIONAL INC同比增速更快（3.5% vs 0.4%），RPM INTERNATIONAL INC自由现金流更多（$296.4M vs $5.0M），过去两年RPM INTERNATIONAL INC的营收复合增速更高（12.0% vs 4.2%）
Graham Holdings是一家总部位于美国弗吉尼亚州阿灵顿县、在特拉华州注册的多元化综合控股集团，曾持有知名媒体《华盛顿邮报》与《新闻周刊》的所有权，旗下业务覆盖多个领域，在北美市场拥有深厚的行业运营积淀。
BVS娱乐前身为Saban制作、Saban国际及Saban娱乐，是华特迪士尼公司旗下子公司。1980年4月24日由哈伊姆·萨班与舒基·利维创立，最初主营音乐制作，后逐步转向电视节目制作发行业务，最为知名的是为Fox Family/ABC Family及已停播的Fox Kids、Jetix频道制作发行儿童节目。
GHC vs RPM — 直观对比
营收规模更大
RPM
是对方的1.5倍
$1.3B
营收增速更快
RPM
高出3.1%
0.4%
净利率更高
GHC
高出0.3%
8.4%
自由现金流更多
RPM
多$291.3M
$5.0M
两年增速更快
RPM
近两年复合增速
4.2%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.9B |
| 净利润 | $108.7M | $161.2M |
| 毛利率 | — | 40.8% |
| 营业利润率 | 3.8% | 11.0% |
| 净利率 | 8.7% | 8.4% |
| 营收同比 | 0.4% | 3.5% |
| 净利润同比 | -80.2% | -12.0% |
| 每股收益（稀释后） | $24.76 | $1.26 |
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GHCRPM
| Q4 25 | $1.3B | $1.9B | ||
| Q3 25 | $1.3B | $2.1B | ||
| Q2 25 | $1.2B | $2.1B | ||
| Q1 25 | $1.2B | $1.5B | ||
| Q4 24 | $1.2B | $1.8B | ||
| Q3 24 | $1.2B | $2.0B | ||
| Q2 24 | $1.2B | $2.0B | ||
| Q1 24 | $1.2B | $1.5B |
净利润GHCRPM
| Q4 25 | $108.7M | $161.2M | ||
| Q3 25 | $122.9M | $227.6M | ||
| Q2 25 | $36.7M | $225.8M | ||
| Q1 25 | $23.9M | $52.0M | ||
| Q4 24 | $548.8M | $183.2M | ||
| Q3 24 | $72.5M | $227.7M | ||
| Q2 24 | $-21.0M | $180.6M | ||
| Q1 24 | $124.4M | $61.2M |
毛利率GHCRPM
| Q4 25 | — | 40.8% | ||
| Q3 25 | — | 42.3% | ||
| Q2 25 | — | 42.4% | ||
| Q1 25 | — | 38.4% | ||
| Q4 24 | — | 41.4% | ||
| Q3 24 | — | 42.5% | ||
| Q2 24 | — | 41.4% | ||
| Q1 24 | — | 39.9% |
营业利润率GHCRPM
| Q4 25 | 3.8% | 11.0% | ||
| Q3 25 | 5.2% | 14.1% | ||
| Q2 25 | 6.0% | 11.9% | ||
| Q1 25 | 4.1% | 2.8% | ||
| Q4 24 | 5.8% | 11.5% | ||
| Q3 24 | 6.8% | 14.8% | ||
| Q2 24 | 2.2% | 11.9% | ||
| Q1 24 | 3.1% | 5.5% |
净利率GHCRPM
| Q4 25 | 8.7% | 8.4% | ||
| Q3 25 | 9.6% | 10.8% | ||
| Q2 25 | 3.0% | 10.8% | ||
| Q1 25 | 2.0% | 3.5% | ||
| Q4 24 | 44.1% | 9.9% | ||
| Q3 24 | 6.0% | 11.6% | ||
| Q2 24 | -1.8% | 9.0% | ||
| Q1 24 | 10.8% | 4.0% |
每股收益（稀释后）GHCRPM
| Q4 25 | $24.76 | $1.26 | ||
| Q3 25 | $27.91 | $1.77 | ||
| Q2 25 | $8.35 | $1.76 | ||
| Q1 25 | $5.45 | $0.40 | ||
| Q4 24 | $124.05 | $1.42 | ||
| Q3 24 | $16.42 | $1.77 | ||
| Q2 24 | $-4.79 | $1.40 | ||
| Q1 24 | $27.72 | $0.47 |
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 | $267.0M | $316.6M |
| 总债务越低越好 | — | $2.5B |
| 股东权益账面价值 | $4.8B | $3.1B |
| 总资产 | $8.4B | $7.9B |
| 负债/权益比越低杠杆越低 | — | 0.80× |
8季度趋势，按日历期对齐
现金及短期投资GHCRPM
| Q4 25 | $267.0M | $316.6M | ||
| Q3 25 | $190.8M | $297.1M | ||
| Q2 25 | $176.2M | $302.1M | ||
| Q1 25 | $156.7M | $241.9M | ||
| Q4 24 | $260.9M | $268.7M | ||
| Q3 24 | $244.4M | $231.6M | ||
| Q2 24 | $140.7M | $237.4M | ||
| Q1 24 | $130.9M | $248.9M |
总债务GHCRPM
| Q4 25 | — | $2.5B | ||
| Q3 25 | — | $2.7B | ||
| Q2 25 | — | $2.6B | ||
| Q1 25 | — | $2.1B | ||
| Q4 24 | — | $2.0B | ||
| Q3 24 | — | $2.0B | ||
| Q2 24 | — | $2.0B | ||
| Q1 24 | — | $2.2B |
股东权益GHCRPM
| Q4 25 | $4.8B | $3.1B | ||
| Q3 25 | $4.5B | $3.1B | ||
| Q2 25 | $4.4B | $2.9B | ||
| Q1 25 | $4.3B | $2.7B | ||
| Q4 24 | $4.3B | $2.7B | ||
| Q3 24 | $4.0B | $2.6B | ||
| Q2 24 | $4.0B | $2.5B | ||
| Q1 24 | $4.0B | $2.3B |
总资产GHCRPM
| Q4 25 | $8.4B | $7.9B | ||
| Q3 25 | $7.9B | $7.9B | ||
| Q2 25 | $7.6B | $7.8B | ||
| Q1 25 | $7.6B | $6.6B | ||
| Q4 24 | $7.7B | $6.7B | ||
| Q3 24 | $7.4B | $6.6B | ||
| Q2 24 | $7.2B | $6.6B | ||
| Q1 24 | $7.3B | $6.4B |
负债/权益比GHCRPM
| Q4 25 | — | 0.80× | ||
| Q3 25 | — | 0.87× | ||
| Q2 25 | — | 0.91× | ||
| Q1 25 | — | 0.78× | ||
| Q4 24 | — | 0.74× | ||
| Q3 24 | — | 0.77× | ||
| Q2 24 | — | 0.79× | ||
| Q1 24 | — | 0.93× |
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 | $28.3M | $345.7M |
| 自由现金流经营现金流 - 资本支出 | $5.0M | $296.4M |
| 自由现金流率自由现金流/营收 | 0.4% | 15.5% |
| 资本支出强度资本支出/营收 | 1.9% | 2.6% |
| 现金转化率经营现金流/净利润 | 0.26× | 2.14× |
| 过去12个月自由现金流最近4个季度 | $275.3M | $582.9M |
8季度趋势，按日历期对齐
经营现金流GHCRPM
| Q4 25 | $28.3M | $345.7M | ||
| Q3 25 | $178.1M | $237.5M | ||
| Q2 25 | $94.8M | $149.2M | ||
| Q1 25 | $46.0M | $91.5M | ||
| Q4 24 | $116.3M | $279.4M | ||
| Q3 24 | $237.6M | $248.1M | ||
| Q2 24 | $52.0M | $181.2M | ||
| Q1 24 | $1.1M | $173.4M |
自由现金流GHCRPM
| Q4 25 | $5.0M | $296.4M | ||
| Q3 25 | $161.8M | $175.0M | ||
| Q2 25 | $78.0M | $78.2M | ||
| Q1 25 | $30.5M | $33.3M | ||
| Q4 24 | $91.1M | $229.5M | ||
| Q3 24 | $219.4M | $197.3M | ||
| Q2 24 | $33.7M | $105.3M | ||
| Q1 24 | $-20.2M | $124.6M |
自由现金流率GHCRPM
| Q4 25 | 0.4% | 15.5% | ||
| Q3 25 | 12.6% | 8.3% | ||
| Q2 25 | 6.4% | 3.8% | ||
| Q1 25 | 2.6% | 2.3% | ||
| Q4 24 | 7.3% | 12.4% | ||
| Q3 24 | 18.2% | 10.0% | ||
| Q2 24 | 2.8% | 5.2% | ||
| Q1 24 | -1.8% | 8.2% |
资本支出强度GHCRPM
| Q4 25 | 1.9% | 2.6% | ||
| Q3 25 | 1.3% | 3.0% | ||
| Q2 25 | 1.4% | 3.4% | ||
| Q1 25 | 1.3% | 3.9% | ||
| Q4 24 | 2.0% | 2.7% | ||
| Q3 24 | 1.5% | 2.6% | ||
| Q2 24 | 1.5% | 3.8% | ||
| Q1 24 | 1.8% | 3.2% |
现金转化率GHCRPM
| Q4 25 | 0.26× | 2.14× | ||
| Q3 25 | 1.45× | 1.04× | ||
| Q2 25 | 2.58× | 0.66× | ||
| Q1 25 | 1.93× | 1.76× | ||
| Q4 24 | 0.21× | 1.53× | ||
| Q3 24 | 3.28× | 1.09× | ||
| Q2 24 | — | 1.00× | ||
| Q1 24 | 0.01× | 2.83× |
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
GHC
| Products | $602.7M | 48% |
| Kaplan International | $251.9M | 20% |
| Manufacturing | $117.8M | 9% |
| Television Broadcasting | $110.5M | 9% |
| Higher Education | $83.8M | 7% |
| Supplemental Education | $74.9M | 6% |
| Related Party | $4.4M | 0% |
RPM
| Construction Products Group Segment | $737.4M | 39% |
| Consumer Segment | $638.6M | 33% |
| Performance Coatings Group Segment | $533.8M | 28% |
