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佳明（GRMN）与Pool Corporation（POOL）财务数据对比。点击上方公司名可切换其他公司
佳明的季度营收约是Pool Corporation的1.9倍（$2.1B vs $1.1B），佳明净利率更高（24.9% vs 4.7%，领先20.2%），佳明同比增速更快（16.6% vs 6.2%），过去两年佳明的营收复合增速更高（24.0% vs -19.8%）
佳明（Garmin）是总部位于美国堪萨斯州奥拉西的跨国科技企业，专注于设计、研发、生产及销售GPS功能产品，以及导航、通讯、传感类信息产品，业务覆盖汽车、航空、航海、户外、运动健身等多个领域。
Pool Corporation（简称POOLCORP）是全球最大的游泳池用品、设备及机械分销商，注册地为美国特拉华州，总部位于路易斯安那州卡温顿。公司在北美、欧洲、澳大利亚运营439个销售中心，服务约12.5万客户，过半收入来自美国加州、得州、佛罗里达及亚利桑那市场，受益于人口向温暖气候区迁移的趋势。
GRMN vs POOL — 直观对比
营收规模更大
GRMN
是对方的1.9倍
$1.1B
营收增速更快
GRMN
高出10.4%
6.2%
净利率更高
GRMN
高出20.2%
4.7%
两年增速更快
GRMN
近两年复合增速
-19.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $1.1B |
| 净利润 | $528.7M | $53.2M |
| 毛利率 | 59.2% | 29.0% |
| 营业利润率 | 28.9% | 7.3% |
| 净利率 | 24.9% | 4.7% |
| 营收同比 | 16.6% | 6.2% |
| 净利润同比 | 21.3% | -0.6% |
| 每股收益（稀释后） | $2.72 | $1.45 |
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GRMNPOOL
| Q1 26 | — | $1.1B | ||
| Q4 25 | $2.1B | $982.2M | ||
| Q3 25 | $1.8B | $1.5B | ||
| Q2 25 | $1.8B | $1.8B | ||
| Q1 25 | $1.5B | $1.1B | ||
| Q4 24 | $1.8B | $987.5M | ||
| Q3 24 | $1.6B | $1.4B | ||
| Q2 24 | $1.5B | $1.8B |
净利润GRMNPOOL
| Q1 26 | — | $53.2M | ||
| Q4 25 | $528.7M | $31.6M | ||
| Q3 25 | $401.6M | $127.0M | ||
| Q2 25 | $400.8M | $194.3M | ||
| Q1 25 | $332.8M | $53.5M | ||
| Q4 24 | $435.7M | $37.3M | ||
| Q3 24 | $399.1M | $125.7M | ||
| Q2 24 | $300.6M | $192.4M |
毛利率GRMNPOOL
| Q1 26 | — | 29.0% | ||
| Q4 25 | 59.2% | 30.1% | ||
| Q3 25 | 59.1% | 29.6% | ||
| Q2 25 | 58.8% | 30.0% | ||
| Q1 25 | 57.6% | 29.2% | ||
| Q4 24 | 59.3% | 29.4% | ||
| Q3 24 | 60.0% | 29.1% | ||
| Q2 24 | 57.3% | 30.0% |
营业利润率GRMNPOOL
| Q1 26 | — | 7.3% | ||
| Q4 25 | 28.9% | 5.3% | ||
| Q3 25 | 25.8% | 12.3% | ||
| Q2 25 | 26.0% | 15.3% | ||
| Q1 25 | 21.7% | 7.2% | ||
| Q4 24 | 28.3% | 6.1% | ||
| Q3 24 | 27.6% | 12.3% | ||
| Q2 24 | 22.7% | 15.3% |
净利率GRMNPOOL
| Q1 26 | — | 4.7% | ||
| Q4 25 | 24.9% | 3.2% | ||
| Q3 25 | 22.7% | 8.8% | ||
| Q2 25 | 22.1% | 10.9% | ||
| Q1 25 | 21.7% | 5.0% | ||
| Q4 24 | 23.9% | 3.8% | ||
| Q3 24 | 25.2% | 8.8% | ||
| Q2 24 | 20.0% | 10.9% |
每股收益（稀释后）GRMNPOOL
| Q1 26 | — | $1.45 | ||
| Q4 25 | $2.72 | $0.86 | ||
| Q3 25 | $2.08 | $3.40 | ||
| Q2 25 | $2.07 | $5.17 | ||
| Q1 25 | $1.72 | $1.42 | ||
| Q4 24 | $2.24 | $1.00 | ||
| Q3 24 | $2.07 | $3.27 | ||
| Q2 24 | $1.56 | $4.99 |
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 | $2.3B | $64.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $9.0B | — |
| 总资产 | $11.0B | $4.0B |
| 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GRMNPOOL
| Q1 26 | — | $64.5M | ||
| Q4 25 | $2.3B | — | ||
| Q3 25 | $2.1B | — | ||
| Q2 25 | $2.1B | — | ||
| Q1 25 | $2.2B | — | ||
| Q4 24 | $2.1B | — | ||
| Q3 24 | $2.0B | — | ||
| Q2 24 | $1.9B | — |
总债务GRMNPOOL
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $1.0B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $968.0M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $879.1M | ||
| Q2 24 | — | $1.1B |
股东权益GRMNPOOL
| Q1 26 | — | — | ||
| Q4 25 | $9.0B | $1.2B | ||
| Q3 25 | $8.5B | $1.4B | ||
| Q2 25 | $8.1B | $1.3B | ||
| Q1 25 | $8.2B | $1.2B | ||
| Q4 24 | $7.8B | $1.3B | ||
| Q3 24 | $7.5B | $1.4B | ||
| Q2 24 | $7.0B | $1.4B |
总资产GRMNPOOL
| Q1 26 | — | $4.0B | ||
| Q4 25 | $11.0B | $3.6B | ||
| Q3 25 | $10.5B | $3.5B | ||
| Q2 25 | $10.3B | $3.7B | ||
| Q1 25 | $9.8B | $3.7B | ||
| Q4 24 | $9.6B | $3.4B | ||
| Q3 24 | $9.3B | $3.4B | ||
| Q2 24 | $8.9B | $3.6B |
负债/权益比GRMNPOOL
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 0.76× | ||
| Q2 25 | — | 0.93× | ||
| Q1 25 | — | 0.78× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.61× | ||
| Q2 24 | — | 0.75× |
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 | $553.8M | $25.7M |
| 自由现金流经营现金流 - 资本支出 | $429.6M | — |
| 自由现金流率自由现金流/营收 | 20.2% | — |
| 资本支出强度资本支出/营收 | 5.8% | — |
| 现金转化率经营现金流/净利润 | 1.05× | 0.48× |
| 过去12个月自由现金流最近4个季度 | $1.4B | — |
8季度趋势，按日历期对齐
经营现金流GRMNPOOL
| Q1 26 | — | $25.7M | ||
| Q4 25 | $553.8M | $80.1M | ||
| Q3 25 | $485.6M | $287.3M | ||
| Q2 25 | $173.2M | $-28.8M | ||
| Q1 25 | $420.8M | $27.2M | ||
| Q4 24 | $483.9M | $170.6M | ||
| Q3 24 | $258.0M | $316.5M | ||
| Q2 24 | $255.3M | $26.7M |
自由现金流GRMNPOOL
| Q1 26 | — | — | ||
| Q4 25 | $429.6M | $71.9M | ||
| Q3 25 | $425.1M | $266.6M | ||
| Q2 25 | $127.5M | $-42.9M | ||
| Q1 25 | $380.7M | $13.9M | ||
| Q4 24 | $399.2M | $157.0M | ||
| Q3 24 | $219.4M | $305.5M | ||
| Q2 24 | $218.2M | $8.8M |
自由现金流率GRMNPOOL
| Q1 26 | — | — | ||
| Q4 25 | 20.2% | 7.3% | ||
| Q3 25 | 24.0% | 18.4% | ||
| Q2 25 | 7.0% | -2.4% | ||
| Q1 25 | 24.8% | 1.3% | ||
| Q4 24 | 21.9% | 15.9% | ||
| Q3 24 | 13.8% | 21.3% | ||
| Q2 24 | 14.5% | 0.5% |
资本支出强度GRMNPOOL
| Q1 26 | — | — | ||
| Q4 25 | 5.8% | 0.8% | ||
| Q3 25 | 3.4% | 1.4% | ||
| Q2 25 | 2.5% | 0.8% | ||
| Q1 25 | 2.6% | 1.2% | ||
| Q4 24 | 4.6% | 1.4% | ||
| Q3 24 | 2.4% | 0.8% | ||
| Q2 24 | 2.5% | 1.0% |
现金转化率GRMNPOOL
| Q1 26 | — | 0.48× | ||
| Q4 25 | 1.05× | 2.54× | ||
| Q3 25 | 1.21× | 2.26× | ||
| Q2 25 | 0.43× | -0.15× | ||
| Q1 25 | 1.26× | 0.51× | ||
| Q4 24 | 1.11× | 4.57× | ||
| Q3 24 | 0.65× | 2.52× | ||
| Q2 24 | 0.85× | 0.14× |
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
GRMN
| Fitness Segment | $765.8M | 36% |
| Outdoor Segment | $627.6M | 30% |
| Marine Segment | $296.9M | 14% |
| Aviation Segment | $274.2M | 13% |
| Auto Oem Segment | $160.4M | 8% |
POOL
暂无分部数据
