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孩之宝（HAS）与雷诺士国际（LII）财务数据对比。点击上方公司名可切换其他公司
孩之宝的季度营收约是雷诺士国际的1.2倍（$1.4B vs $1.2B），孩之宝净利率更高（13.9% vs 13.6%，领先0.4%），孩之宝同比增速更快（31.3% vs -11.2%），孩之宝自由现金流更多（$389.5M vs $376.7M），过去两年孩之宝的营收复合增速更高（38.2% vs 6.8%）
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。
雷诺士国际是美国知名的暖通空调（HVAC）及制冷领域气候控制产品供应商，总部位于得克萨斯州理查森。公司在墨西哥萨尔蒂约、美国爱荷华州马歇尔敦、南卡罗来纳州奥兰治堡设有核心生产基地，1904年收购公司的诺里斯家族后裔约翰·W·诺里斯三世持有其9.8%的股份。
HAS vs LII — 直观对比
营收规模更大
HAS
是对方的1.2倍
$1.2B
营收增速更快
HAS
高出42.4%
-11.2%
净利率更高
HAS
高出0.4%
13.6%
自由现金流更多
HAS
多$12.8M
$376.7M
两年增速更快
HAS
近两年复合增速
6.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.2B |
| 净利润 | $201.6M | $162.1M |
| 毛利率 | 68.7% | 34.7% |
| 营业利润率 | 20.6% | 18.6% |
| 净利率 | 13.9% | 13.6% |
| 营收同比 | 31.3% | -11.2% |
| 净利润同比 | 687.8% | -18.0% |
| 每股收益（稀释后） | $1.46 | $4.62 |
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HASLII
| Q4 25 | $1.4B | $1.2B | ||
| Q3 25 | $1.4B | $1.4B | ||
| Q2 25 | $980.8M | $1.5B | ||
| Q1 25 | $887.1M | $1.1B | ||
| Q4 24 | $1.1B | $1.3B | ||
| Q3 24 | $1.3B | $1.5B | ||
| Q2 24 | $995.3M | $1.5B | ||
| Q1 24 | $757.3M | $1.0B |
净利润HASLII
| Q4 25 | $201.6M | $162.1M | ||
| Q3 25 | $233.2M | $245.8M | ||
| Q2 25 | $-855.8M | $277.6M | ||
| Q1 25 | $98.6M | $120.3M | ||
| Q4 24 | $-34.3M | $197.7M | ||
| Q3 24 | $223.2M | $239.0M | ||
| Q2 24 | $138.5M | $245.9M | ||
| Q1 24 | $58.2M | $124.3M |
毛利率HASLII
| Q4 25 | 68.7% | 34.7% | ||
| Q3 25 | 70.1% | 32.8% | ||
| Q2 25 | 77.0% | 34.8% | ||
| Q1 25 | 76.9% | 30.6% | ||
| Q4 24 | 67.4% | 33.9% | ||
| Q3 24 | 70.4% | 32.6% | ||
| Q2 24 | 76.1% | 33.6% | ||
| Q1 24 | 73.0% | 32.5% |
营业利润率HASLII
| Q4 25 | 20.6% | 18.6% | ||
| Q3 25 | 24.6% | 21.7% | ||
| Q2 25 | -81.4% | 23.6% | ||
| Q1 25 | 19.2% | 14.5% | ||
| Q4 24 | 5.4% | 18.2% | ||
| Q3 24 | 23.6% | 20.2% | ||
| Q2 24 | 21.3% | 22.1% | ||
| Q1 24 | 15.3% | 15.9% |
净利率HASLII
| Q4 25 | 13.9% | 13.6% | ||
| Q3 25 | 16.8% | 17.2% | ||
| Q2 25 | -87.3% | 18.5% | ||
| Q1 25 | 11.1% | 11.2% | ||
| Q4 24 | -3.1% | 14.7% | ||
| Q3 24 | 17.4% | 16.0% | ||
| Q2 24 | 13.9% | 16.9% | ||
| Q1 24 | 7.7% | 11.9% |
每股收益（稀释后）HASLII
| Q4 25 | $1.46 | $4.62 | ||
| Q3 25 | $1.64 | $6.98 | ||
| Q2 25 | $-6.10 | $7.82 | ||
| Q1 25 | $0.70 | $3.37 | ||
| Q4 24 | $-0.25 | $5.52 | ||
| Q3 24 | $1.59 | $6.68 | ||
| Q2 24 | $0.99 | $6.87 | ||
| Q1 24 | $0.42 | $3.47 |
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 | — | $34.7M |
| 总债务越低越好 | — | $1.1B |
| 股东权益账面价值 | $565.5M | $1.2B |
| 总资产 | $5.6B | $4.1B |
| 负债/权益比越低杠杆越低 | — | 0.98× |
8季度趋势，按日历期对齐
现金及短期投资HASLII
| Q4 25 | — | $34.7M | ||
| Q3 25 | — | $59.2M | ||
| Q2 25 | — | $55.1M | ||
| Q1 25 | — | $222.9M | ||
| Q4 24 | — | $422.3M | ||
| Q3 24 | — | $255.7M | ||
| Q2 24 | — | $57.8M | ||
| Q1 24 | — | $57.6M |
总债务HASLII
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | $838.2M | ||
| Q2 25 | — | $835.7M | ||
| Q1 25 | — | $834.2M | ||
| Q4 24 | — | $833.1M | ||
| Q3 24 | — | $827.6M | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | — | $1.2B |
股东权益HASLII
| Q4 25 | $565.5M | $1.2B | ||
| Q3 25 | $433.8M | $1.1B | ||
| Q2 25 | $269.7M | $900.5M | ||
| Q1 25 | $1.2B | $852.5M | ||
| Q4 24 | $1.2B | $850.2M | ||
| Q3 24 | $1.3B | $754.0M | ||
| Q2 24 | $1.2B | $577.4M | ||
| Q1 24 | $1.0B | $368.8M |
总资产HASLII
| Q4 25 | $5.6B | $4.1B | ||
| Q3 25 | $5.5B | $3.5B | ||
| Q2 25 | $5.2B | $3.7B | ||
| Q1 25 | $6.0B | $3.5B | ||
| Q4 24 | $6.3B | $3.5B | ||
| Q3 24 | $7.2B | $3.3B | ||
| Q2 24 | $6.9B | $3.2B | ||
| Q1 24 | $6.2B | $3.0B |
负债/权益比HASLII
| Q4 25 | — | 0.98× | ||
| Q3 25 | — | 0.78× | ||
| Q2 25 | — | 0.93× | ||
| Q1 25 | — | 0.98× | ||
| Q4 24 | — | 0.98× | ||
| Q3 24 | — | 1.10× | ||
| Q2 24 | — | 1.95× | ||
| Q1 24 | — | 3.13× |
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 | $405.9M |
| 自由现金流经营现金流 - 资本支出 | $389.5M | $376.7M |
| 自由现金流率自由现金流/营收 | 26.9% | 31.5% |
| 资本支出强度资本支出/营收 | 0.9% | 2.4% |
| 现金转化率经营现金流/净利润 | 2.00× | 2.50× |
| 过去12个月自由现金流最近4个季度 | $829.9M | $638.8M |
8季度趋势，按日历期对齐
经营现金流HASLII
| Q4 25 | $403.2M | $405.9M | ||
| Q3 25 | $280.6M | $300.7M | ||
| Q2 25 | $71.3M | $86.8M | ||
| Q1 25 | $138.1M | $-35.8M | ||
| Q4 24 | $259.8M | $332.4M | ||
| Q3 24 | $222.5M | $452.1M | ||
| Q2 24 | $187.3M | $184.0M | ||
| Q1 24 | $177.8M | $-22.8M |
自由现金流HASLII
| Q4 25 | $389.5M | $376.7M | ||
| Q3 25 | $260.9M | $265.1M | ||
| Q2 25 | $55.2M | $58.3M | ||
| Q1 25 | $124.3M | $-61.3M | ||
| Q4 24 | $200.8M | $272.2M | ||
| Q3 24 | $174.0M | $410.9M | ||
| Q2 24 | $135.4M | $151.3M | ||
| Q1 24 | $132.0M | $-52.3M |
自由现金流率HASLII
| Q4 25 | 26.9% | 31.5% | ||
| Q3 25 | 18.8% | 18.6% | ||
| Q2 25 | 5.6% | 3.9% | ||
| Q1 25 | 14.0% | -5.7% | ||
| Q4 24 | 18.2% | 20.2% | ||
| Q3 24 | 13.6% | 27.4% | ||
| Q2 24 | 13.6% | 10.4% | ||
| Q1 24 | 17.4% | -5.0% |
资本支出强度HASLII
| Q4 25 | 0.9% | 2.4% | ||
| Q3 25 | 1.4% | 2.5% | ||
| Q2 25 | 1.6% | 1.9% | ||
| Q1 25 | 1.6% | 2.4% | ||
| Q4 24 | 5.4% | 4.5% | ||
| Q3 24 | 3.8% | 2.8% | ||
| Q2 24 | 5.2% | 2.3% | ||
| Q1 24 | 6.0% | 2.8% |
现金转化率HASLII
| Q4 25 | 2.00× | 2.50× | ||
| Q3 25 | 1.20× | 1.22× | ||
| Q2 25 | — | 0.31× | ||
| Q1 25 | 1.40× | -0.30× | ||
| Q4 24 | — | 1.68× | ||
| Q3 24 | 1.00× | 1.89× | ||
| Q2 24 | 1.35× | 0.75× | ||
| Q1 24 | 3.05× | -0.18× |
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% |
LII
| Residential Heating And Cooling | $699.8M | 59% |
| Commercial Heating And Cooling | $495.2M | 41% |
