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GRAPHIC PACKAGING HOLDING CO（GPK）与Taylor Morrison Home Corp（TMHC）财务数据对比。点击上方公司名可切换其他公司
GRAPHIC PACKAGING HOLDING CO的季度营收约是Taylor Morrison Home Corp的1.5倍（$2.1B vs $1.4B），Taylor Morrison Home Corp净利率更高（7.1% vs 3.4%，领先3.7%），GRAPHIC PACKAGING HOLDING CO同比增速更快（0.2% vs -26.8%），过去两年GRAPHIC PACKAGING HOLDING CO的营收复合增速更高（-3.5% vs -16.5%）
Graphic Packaging Holding是总部位于美国佐治亚州亚特兰大的世界500强企业，专注于设计和生产商用产品包装解决方案，主营纸板及折叠纸盒业务，产品广泛应用于饮料、包装食品等各类热门消费品领域，在美国多州运营采用回收原料的纸板工厂。
泰勒莫里森住房公司是美国规模最大的住宅建筑商之一，总部位于亚利桑那州斯科茨代尔，2007年7月由泰勒伍德罗与莫里森住房合并成立。公司业务覆盖亚利桑那、加利福尼亚、得克萨斯等十余个州，产品涵盖首次置业、中端及中高端住宅，可满足不同层级客户的住房需求。
GPK vs TMHC — 直观对比
营收规模更大
GPK
是对方的1.5倍
$1.4B
营收增速更快
GPK
高出27.1%
-26.8%
净利率更高
TMHC
高出3.7%
3.4%
两年增速更快
GPK
近两年复合增速
-16.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $1.4B |
| 净利润 | $71.0M | $98.6M |
| 毛利率 | 14.1% | 21.0% |
| 营业利润率 | 7.4% | — |
| 净利率 | 3.4% | 7.1% |
| 营收同比 | 0.2% | -26.8% |
| 净利润同比 | -48.6% | -53.8% |
| 每股收益（稀释后） | $0.24 | $1.12 |
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GPKTMHC
| Q1 26 | — | $1.4B | ||
| Q4 25 | $2.1B | $2.1B | ||
| Q3 25 | $2.2B | $2.1B | ||
| Q2 25 | $2.2B | $2.0B | ||
| Q1 25 | $2.1B | $1.9B | ||
| Q4 24 | $2.1B | $2.4B | ||
| Q3 24 | $2.2B | $2.1B | ||
| Q2 24 | $2.2B | $2.0B |
净利润GPKTMHC
| Q1 26 | — | $98.6M | ||
| Q4 25 | $71.0M | $174.0M | ||
| Q3 25 | $142.0M | $201.4M | ||
| Q2 25 | $104.0M | $193.6M | ||
| Q1 25 | $127.0M | $213.5M | ||
| Q4 24 | $138.0M | $242.5M | ||
| Q3 24 | $165.0M | $251.1M | ||
| Q2 24 | $190.0M | $199.5M |
毛利率GPKTMHC
| Q1 26 | — | 21.0% | ||
| Q4 25 | 14.1% | 22.0% | ||
| Q3 25 | 19.6% | 22.7% | ||
| Q2 25 | 18.7% | 23.0% | ||
| Q1 25 | 20.6% | 24.4% | ||
| Q4 24 | 21.4% | 23.9% | ||
| Q3 24 | 22.3% | 25.0% | ||
| Q2 24 | 21.2% | 23.7% |
营业利润率GPKTMHC
| Q1 26 | — | — | ||
| Q4 25 | 7.4% | — | ||
| Q3 25 | 10.7% | — | ||
| Q2 25 | 8.8% | — | ||
| Q1 25 | 10.5% | — | ||
| Q4 24 | 11.4% | — | ||
| Q3 24 | 12.6% | — | ||
| Q2 24 | 14.5% | — |
净利率GPKTMHC
| Q1 26 | — | 7.1% | ||
| Q4 25 | 3.4% | 8.3% | ||
| Q3 25 | 6.5% | 9.6% | ||
| Q2 25 | 4.7% | 9.5% | ||
| Q1 25 | 6.0% | 11.3% | ||
| Q4 24 | 6.6% | 10.3% | ||
| Q3 24 | 7.5% | 11.8% | ||
| Q2 24 | 8.5% | 10.0% |
每股收益（稀释后）GPKTMHC
| Q1 26 | — | $1.12 | ||
| Q4 25 | $0.24 | $1.77 | ||
| Q3 25 | $0.48 | $2.01 | ||
| Q2 25 | $0.34 | $1.92 | ||
| Q1 25 | $0.42 | $2.07 | ||
| Q4 24 | $0.46 | $2.29 | ||
| Q3 24 | $0.55 | $2.37 | ||
| Q2 24 | $0.62 | $1.86 |
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 | $261.0M | $652.9M |
| 总债务越低越好 | $5.0B | — |
| 股东权益账面价值 | $3.3B | $6.2B |
| 总资产 | $11.8B | $9.8B |
| 负债/权益比越低杠杆越低 | 1.51× | — |
8季度趋势，按日历期对齐
现金及短期投资GPKTMHC
| Q1 26 | — | $652.9M | ||
| Q4 25 | $261.0M | $850.0M | ||
| Q3 25 | $120.0M | $370.6M | ||
| Q2 25 | $120.0M | $130.2M | ||
| Q1 25 | $129.0M | $377.8M | ||
| Q4 24 | $157.0M | $487.2M | ||
| Q3 24 | $126.0M | $256.4M | ||
| Q2 24 | $125.0M | $246.8M |
总债务GPKTMHC
| Q1 26 | — | — | ||
| Q4 25 | $5.0B | $2.3B | ||
| Q3 25 | $5.5B | $2.2B | ||
| Q2 25 | $5.4B | $2.1B | ||
| Q1 25 | $5.7B | $2.1B | ||
| Q4 24 | $5.1B | $2.1B | ||
| Q3 24 | $5.4B | $2.1B | ||
| Q2 24 | $4.9B | $2.2B |
股东权益GPKTMHC
| Q1 26 | — | $6.2B | ||
| Q4 25 | $3.3B | $6.3B | ||
| Q3 25 | $3.3B | $6.2B | ||
| Q2 25 | $3.2B | $6.1B | ||
| Q1 25 | $3.2B | $6.0B | ||
| Q4 24 | $3.0B | $5.9B | ||
| Q3 24 | $3.0B | $5.7B | ||
| Q2 24 | $2.8B | $5.5B |
总资产GPKTMHC
| Q1 26 | — | $9.8B | ||
| Q4 25 | $11.8B | $9.8B | ||
| Q3 25 | $11.9B | $9.6B | ||
| Q2 25 | $11.8B | $9.5B | ||
| Q1 25 | $11.5B | $9.4B | ||
| Q4 24 | $11.1B | $9.3B | ||
| Q3 24 | $11.2B | $9.3B | ||
| Q2 24 | $10.8B | $9.1B |
负债/权益比GPKTMHC
| Q1 26 | — | — | ||
| Q4 25 | 1.51× | 0.36× | ||
| Q3 25 | 1.67× | 0.35× | ||
| Q2 25 | 1.68× | 0.35× | ||
| Q1 25 | 1.80× | 0.35× | ||
| Q4 24 | 1.71× | 0.36× | ||
| Q3 24 | 1.79× | 0.37× | ||
| Q2 24 | 1.75× | 0.39× |
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 | $521.0M | — |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 7.34× | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流GPKTMHC
| Q1 26 | — | — | ||
| Q4 25 | $521.0M | $646.4M | ||
| Q3 25 | $227.0M | $219.6M | ||
| Q2 25 | $267.0M | $-126.0M | ||
| Q1 25 | $-174.0M | $77.2M | ||
| Q4 24 | $489.0M | $438.2M | ||
| Q3 24 | $187.0M | $135.9M | ||
| Q2 24 | $161.0M | $-233.3M |
自由现金流GPKTMHC
| Q1 26 | — | — | ||
| Q4 25 | — | $635.3M | ||
| Q3 25 | — | $206.6M | ||
| Q2 25 | — | $-133.6M | ||
| Q1 25 | — | $68.7M | ||
| Q4 24 | — | $428.2M | ||
| Q3 24 | — | $127.1M | ||
| Q2 24 | — | $-241.7M |
自由现金流率GPKTMHC
| Q1 26 | — | — | ||
| Q4 25 | — | 30.3% | ||
| Q3 25 | — | 9.9% | ||
| Q2 25 | — | -6.6% | ||
| Q1 25 | — | 3.6% | ||
| Q4 24 | — | 18.2% | ||
| Q3 24 | — | 6.0% | ||
| Q2 24 | — | -12.1% |
资本支出强度GPKTMHC
| Q1 26 | — | — | ||
| Q4 25 | — | 0.5% | ||
| Q3 25 | — | 0.6% | ||
| Q2 25 | — | 0.4% | ||
| Q1 25 | — | 0.4% | ||
| Q4 24 | — | 0.4% | ||
| Q3 24 | — | 0.4% | ||
| Q2 24 | — | 0.4% |
现金转化率GPKTMHC
| Q1 26 | — | — | ||
| Q4 25 | 7.34× | 3.71× | ||
| Q3 25 | 1.60× | 1.09× | ||
| Q2 25 | 2.57× | -0.65× | ||
| Q1 25 | -1.37× | 0.36× | ||
| Q4 24 | 3.54× | 1.81× | ||
| Q3 24 | 1.13× | 0.54× | ||
| Q2 24 | 0.85× | -1.17× |
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
GPK
| Americas Paperboard Packaging | $1.4B | 68% |
| Other | $667.0M | 32% |
TMHC
| Home closings revenue, net | $1.3B | 95% |
| Financial services revenue, net | $49.3M | 4% |
| Land closings revenue | $14.5M | 1% |
| Amenity and other revenue | $11.9M | 1% |
