vs
孩之宝（HAS）与ICAHN ENTERPRISES L.P.（IEP）财务数据对比。点击上方公司名可切换其他公司
ICAHN ENTERPRISES L.P.的季度营收约是孩之宝的1.9倍（$2.7B vs $1.4B），孩之宝净利率更高（13.9% vs 0.0%，领先13.9%），孩之宝同比增速更快（31.3% vs 5.4%），孩之宝自由现金流更多（$389.5M vs $-496.0M），过去两年孩之宝的营收复合增速更高（38.2% vs 4.5%）
孩之宝是1923年12月6日成立的美国跨国玩具制造与娱乐控股企业，总部位于罗德岛州波塔基特。旗下拥有Kenner、米尔顿·布拉德利、派克兄弟、威世智等知名品牌，持有大量热门IP商标权，业务覆盖玩具生产、游戏开发、娱乐内容出品等多个领域。
伊坎企业有限合伙企业是美国上市的 Master 有限合伙企业与多元化集团，总部位于佛罗里达州阳光岛海滩的弥尔顿大厦。公司投资布局覆盖能源、汽车、食品包装、金属、房地产、家居时尚等多个领域，由知名投资人卡尔·伊坎控股，其持股比例达86%。
HAS vs IEP — 直观对比
营收规模更大
IEP
是对方的1.9倍
$1.4B
营收增速更快
HAS
高出25.9%
5.4%
净利率更高
HAS
高出13.9%
0.0%
自由现金流更多
HAS
多$885.5M
$-496.0M
两年增速更快
HAS
近两年复合增速
4.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $2.7B |
| 净利润 | $201.6M | $1.0M |
| 毛利率 | 68.7% | — |
| 营业利润率 | 20.6% | 0.6% |
| 净利率 | 13.9% | 0.0% |
| 营收同比 | 31.3% | 5.4% |
| 净利润同比 | 687.8% | 101.0% |
| 每股收益（稀释后） | $1.46 | — |
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HASIEP
| Q4 25 | $1.4B | $2.7B | ||
| Q3 25 | $1.4B | $2.7B | ||
| Q2 25 | $980.8M | $2.4B | ||
| Q1 25 | $887.1M | $1.9B | ||
| Q4 24 | $1.1B | $2.6B | ||
| Q3 24 | $1.3B | $2.8B | ||
| Q2 24 | $995.3M | $2.2B | ||
| Q1 24 | $757.3M | $2.5B |
净利润HASIEP
| Q4 25 | $201.6M | $1.0M | ||
| Q3 25 | $233.2M | $287.0M | ||
| Q2 25 | $-855.8M | $-165.0M | ||
| Q1 25 | $98.6M | $-422.0M | ||
| Q4 24 | $-34.3M | $-98.0M | ||
| Q3 24 | $223.2M | $22.0M | ||
| Q2 24 | $138.5M | $-331.0M | ||
| Q1 24 | $58.2M | $-38.0M |
毛利率HASIEP
| Q4 25 | 68.7% | — | ||
| Q3 25 | 70.1% | — | ||
| Q2 25 | 77.0% | — | ||
| Q1 25 | 76.9% | — | ||
| Q4 24 | 67.4% | — | ||
| Q3 24 | 70.4% | — | ||
| Q2 24 | 76.1% | — | ||
| Q1 24 | 73.0% | — |
营业利润率HASIEP
| Q4 25 | 20.6% | 0.6% | ||
| Q3 25 | 24.6% | 19.7% | ||
| Q2 25 | -81.4% | -10.4% | ||
| Q1 25 | 19.2% | -35.0% | ||
| Q4 24 | 5.4% | -5.2% | ||
| Q3 24 | 23.6% | 2.4% | ||
| Q2 24 | 21.3% | -21.9% | ||
| Q1 24 | 15.3% | -0.8% |
净利率HASIEP
| Q4 25 | 13.9% | 0.0% | ||
| Q3 25 | 16.8% | 10.5% | ||
| Q2 25 | -87.3% | -7.0% | ||
| Q1 25 | 11.1% | -22.6% | ||
| Q4 24 | -3.1% | -3.8% | ||
| Q3 24 | 17.4% | 0.8% | ||
| Q2 24 | 13.9% | -15.0% | ||
| Q1 24 | 7.7% | -1.5% |
每股收益（稀释后）HASIEP
| Q4 25 | $1.46 | — | ||
| Q3 25 | $1.64 | — | ||
| Q2 25 | $-6.10 | — | ||
| Q1 25 | $0.70 | — | ||
| Q4 24 | $-0.25 | — | ||
| Q3 24 | $1.59 | — | ||
| Q2 24 | $0.99 | — | ||
| Q1 24 | $0.42 | — |
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 | — | $1.4B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $565.5M | — |
| 总资产 | $5.6B | $14.2B |
| 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HASIEP
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | $1.8B | ||
| Q2 25 | — | $1.8B | ||
| Q1 25 | — | $2.2B | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | — | $2.3B | ||
| Q2 24 | — | $2.2B | ||
| Q1 24 | — | $2.5B |
股东权益HASIEP
| Q4 25 | $565.5M | — | ||
| Q3 25 | $433.8M | — | ||
| Q2 25 | $269.7M | — | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $1.2B | — | ||
| Q1 24 | $1.0B | — |
总资产HASIEP
| Q4 25 | $5.6B | $14.2B | ||
| Q3 25 | $5.5B | $14.8B | ||
| Q2 25 | $5.2B | $14.8B | ||
| Q1 25 | $6.0B | $15.5B | ||
| Q4 24 | $6.3B | $16.3B | ||
| Q3 24 | $7.2B | $17.4B | ||
| Q2 24 | $6.9B | $18.0B | ||
| Q1 24 | $6.2B | $20.1B |
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 | $403.2M | $-421.0M |
| 自由现金流经营现金流 - 资本支出 | $389.5M | $-496.0M |
| 自由现金流率自由现金流/营收 | 26.9% | -18.4% |
| 资本支出强度资本支出/营收 | 0.9% | 2.8% |
| 现金转化率经营现金流/净利润 | 2.00× | -421.00× |
| 过去12个月自由现金流最近4个季度 | $829.9M | $-654.0M |
8季度趋势，按日历期对齐
经营现金流HASIEP
| Q4 25 | $403.2M | $-421.0M | ||
| Q3 25 | $280.6M | $15.0M | ||
| Q2 25 | $71.3M | $275.0M | ||
| Q1 25 | $138.1M | $-182.0M | ||
| Q4 24 | $259.8M | $244.0M | ||
| Q3 24 | $222.5M | $-54.0M | ||
| Q2 24 | $187.3M | $893.0M | ||
| Q1 24 | $177.8M | $-251.0M |
自由现金流HASIEP
| Q4 25 | $389.5M | $-496.0M | ||
| Q3 25 | $260.9M | $-67.0M | ||
| Q2 25 | $55.2M | $179.0M | ||
| Q1 25 | $124.3M | $-270.0M | ||
| Q4 24 | $200.8M | $156.0M | ||
| Q3 24 | $174.0M | $-112.0M | ||
| Q2 24 | $135.4M | $827.0M | ||
| Q1 24 | $132.0M | $-319.0M |
自由现金流率HASIEP
| Q4 25 | 26.9% | -18.4% | ||
| Q3 25 | 18.8% | -2.5% | ||
| Q2 25 | 5.6% | 7.6% | ||
| Q1 25 | 14.0% | -14.5% | ||
| Q4 24 | 18.2% | 6.1% | ||
| Q3 24 | 13.6% | -4.0% | ||
| Q2 24 | 13.6% | 37.6% | ||
| Q1 24 | 17.4% | -12.9% |
资本支出强度HASIEP
| Q4 25 | 0.9% | 2.8% | ||
| Q3 25 | 1.4% | 3.0% | ||
| Q2 25 | 1.6% | 4.1% | ||
| Q1 25 | 1.6% | 4.7% | ||
| Q4 24 | 5.4% | 3.4% | ||
| Q3 24 | 3.8% | 2.1% | ||
| Q2 24 | 5.2% | 3.0% | ||
| Q1 24 | 6.0% | 2.8% |
现金转化率HASIEP
| Q4 25 | 2.00× | -421.00× | ||
| Q3 25 | 1.20× | 0.05× | ||
| Q2 25 | — | — | ||
| Q1 25 | 1.40× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.00× | -2.45× | ||
| Q2 24 | 1.35× | — | ||
| Q1 24 | 3.05× | — |
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
HAS
| Grow Brands | $1.1B | 75% |
| Optimize Brands | $188.7M | 13% |
| Digital And Licensing Gaming | $135.7M | 9% |
| Class Of Principal Product Family Brands | $13.1M | 1% |
| Filmand TV | $2.4M | 0% |
IEP
| Public Utilities Inventory Petroleum Products | $1.6B | 61% |
| Other | $381.0M | 14% |
| Automotive Services | $345.0M | 13% |
| Nitrogen Fertilizer Products | $131.0M | 5% |
| Food Packaging Segment | $82.0M | 3% |
| Home Fashion Segment | $45.0M | 2% |
| Renewable Products | $32.0M | 1% |
| Pharma Segment | $23.0M | 1% |
| Holding Company | $11.0M | 0% |
