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孩之宝（HAS）与利氏兄弟拍卖行（RBA）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利氏兄弟拍卖行的1.2倍（$1.4B vs $1.2B），孩之宝净利率更高（13.9% vs 9.1%，领先4.8%），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 $186.5M），过去两年孩之宝的营收复合增速更高（38.2% vs 6.3%）
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。
利氏兄弟拍卖行（股票代码RBA）是全球知名的工业资产拍卖服务商，注册地位于加拿大，属公开上市企业，总部设在美国伊利诺伊州韦斯特切斯特，普通股同时在多伦多证券交易所与纽约证券交易所挂牌交易。
HAS vs RBA — 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25.8%
5.4%
净利率更高
HAS
高出4.8%
9.1%
自由现金流更多
HAS
多$203.0M
$186.5M
两年增速更快
HAS
近两年复合增速
6.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.2B |
| 净利润 | $201.6M | $109.7M |
| 毛利率 | 68.7% | — |
| 营业利润率 | 20.6% | 14.7% |
| 净利率 | 13.9% | 9.1% |
| 营收同比 | 31.3% | 5.4% |
| 净利润同比 | 687.8% | -7.4% |
| 每股收益（稀释后） | $1.46 | $0.53 |
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HASRBA
| Q4 25 | $1.4B | $1.2B | ||
| Q3 25 | $1.4B | $1.1B | ||
| Q2 25 | $980.8M | $1.2B | ||
| Q1 25 | $887.1M | $1.1B | ||
| Q4 24 | $1.1B | $1.1B | ||
| Q3 24 | $1.3B | $981.8M | ||
| Q2 24 | $995.3M | $1.1B | ||
| Q1 24 | $757.3M | $1.1B |
净利润HASRBA
| Q4 25 | $201.6M | $109.7M | ||
| Q3 25 | $233.2M | $95.5M | ||
| Q2 25 | $-855.8M | $109.8M | ||
| Q1 25 | $98.6M | $113.4M | ||
| Q4 24 | $-34.3M | $118.5M | ||
| Q3 24 | $223.2M | $76.1M | ||
| Q2 24 | $138.5M | $111.1M | ||
| Q1 24 | $58.2M | $107.4M |
毛利率HASRBA
| 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HASRBA
| Q4 25 | 20.6% | 14.7% | ||
| Q3 25 | 24.6% | 14.5% | ||
| Q2 25 | -81.4% | 15.9% | ||
| Q1 25 | 19.2% | 17.1% | ||
| Q4 24 | 5.4% | 18.1% | ||
| Q3 24 | 23.6% | 15.6% | ||
| Q2 24 | 21.3% | 18.4% | ||
| Q1 24 | 15.3% | 18.7% |
净利率HASRBA
| Q4 25 | 13.9% | 9.1% | ||
| Q3 25 | 16.8% | 8.7% | ||
| Q2 25 | -87.3% | 9.3% | ||
| Q1 25 | 11.1% | 10.2% | ||
| Q4 24 | -3.1% | 10.4% | ||
| Q3 24 | 17.4% | 7.8% | ||
| Q2 24 | 13.9% | 10.1% | ||
| Q1 24 | 7.7% | 10.1% |
每股收益（稀释后）HASRBA
| Q4 25 | $1.46 | $0.53 | ||
| Q3 25 | $1.64 | $0.43 | ||
| Q2 25 | $-6.10 | $0.53 | ||
| Q1 25 | $0.70 | $0.55 | ||
| Q4 24 | $-0.25 | $0.58 | ||
| Q3 24 | $1.59 | $0.36 | ||
| Q2 24 | $0.99 | $0.54 | ||
| Q1 24 | $0.42 | $0.53 |
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 | — | $531.5M |
| 总债务越低越好 | — | $2.3B |
| 股东权益账面价值 | $565.5M | $5.6B |
| 总资产 | $5.6B | $12.1B |
| 负债/权益比越低杠杆越低 | — | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资HASRBA
| Q4 25 | — | $531.5M | ||
| Q3 25 | — | $674.7M | ||
| Q2 25 | — | $710.2M | ||
| Q1 25 | — | $578.1M | ||
| Q4 24 | — | $533.9M | ||
| Q3 24 | — | $650.7M | ||
| Q2 24 | — | $599.5M | ||
| Q1 24 | — | $462.8M |
总债务HASRBA
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | — | $2.6B | ||
| Q1 25 | — | $2.6B | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | — | $2.7B | ||
| Q2 24 | — | $2.8B | ||
| Q1 24 | — | $2.9B |
股东权益HASRBA
| Q4 25 | $565.5M | $5.6B | ||
| Q3 25 | $433.8M | $5.5B | ||
| Q2 25 | $269.7M | $5.5B | ||
| Q1 25 | $1.2B | $5.3B | ||
| Q4 24 | $1.2B | $5.2B | ||
| Q3 24 | $1.3B | $5.2B | ||
| Q2 24 | $1.2B | $5.2B | ||
| Q1 24 | $1.0B | $5.1B |
总资产HASRBA
| Q4 25 | $5.6B | $12.1B | ||
| Q3 25 | $5.5B | $12.2B | ||
| Q2 25 | $5.2B | $12.2B | ||
| Q1 25 | $6.0B | $11.9B | ||
| Q4 24 | $6.3B | $11.8B | ||
| Q3 24 | $7.2B | $11.9B | ||
| Q2 24 | $6.9B | $12.1B | ||
| Q1 24 | $6.2B | $12.0B |
负债/权益比HASRBA
| Q4 25 | — | 0.42× | ||
| Q3 25 | — | 0.47× | ||
| Q2 25 | — | 0.47× | ||
| Q1 25 | — | 0.50× | ||
| Q4 24 | — | 0.50× | ||
| Q3 24 | — | 0.52× | ||
| Q2 24 | — | 0.55× | ||
| Q1 24 | — | 0.58× |
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 | $255.2M |
| 自由现金流经营现金流 - 资本支出 | $389.5M | $186.5M |
| 自由现金流率自由现金流/营收 | 26.9% | 15.5% |
| 资本支出强度资本支出/营收 | 0.9% | 5.7% |
| 现金转化率经营现金流/净利润 | 2.00× | 2.33× |
| 过去12个月自由现金流最近4个季度 | $829.9M | $719.2M |
8季度趋势，按日历期对齐
经营现金流HASRBA
| Q4 25 | $403.2M | $255.2M | ||
| Q3 25 | $280.6M | $239.7M | ||
| Q2 25 | $71.3M | $326.5M | ||
| Q1 25 | $138.1M | $156.8M | ||
| Q4 24 | $259.8M | $184.5M | ||
| Q3 24 | $222.5M | $285.4M | ||
| Q2 24 | $187.3M | $337.3M | ||
| Q1 24 | $177.8M | $124.8M |
自由现金流HASRBA
| Q4 25 | $389.5M | $186.5M | ||
| Q3 25 | $260.9M | $188.5M | ||
| Q2 25 | $55.2M | $241.7M | ||
| Q1 25 | $124.3M | $102.5M | ||
| Q4 24 | $200.8M | $127.9M | ||
| Q3 24 | $174.0M | $248.5M | ||
| Q2 24 | $135.4M | $308.6M | ||
| Q1 24 | $132.0M | $79.6M |
自由现金流率HASRBA
| Q4 25 | 26.9% | 15.5% | ||
| Q3 25 | 18.8% | 17.3% | ||
| Q2 25 | 5.6% | 20.4% | ||
| Q1 25 | 14.0% | 9.2% | ||
| Q4 24 | 18.2% | 11.2% | ||
| Q3 24 | 13.6% | 25.3% | ||
| Q2 24 | 13.6% | 28.2% | ||
| Q1 24 | 17.4% | 7.5% |
资本支出强度HASRBA
| Q4 25 | 0.9% | 5.7% | ||
| Q3 25 | 1.4% | 4.7% | ||
| Q2 25 | 1.6% | 7.2% | ||
| Q1 25 | 1.6% | 4.9% | ||
| Q4 24 | 5.4% | 5.0% | ||
| Q3 24 | 3.8% | 3.8% | ||
| Q2 24 | 5.2% | 2.6% | ||
| Q1 24 | 6.0% | 4.2% |
现金转化率HASRBA
| Q4 25 | 2.00× | 2.33× | ||
| Q3 25 | 1.20× | 2.51× | ||
| Q2 25 | — | 2.97× | ||
| Q1 25 | 1.40× | 1.38× | ||
| Q4 24 | — | 1.56× | ||
| Q3 24 | 1.00× | 3.75× | ||
| Q2 24 | 1.35× | 3.04× | ||
| Q1 24 | 3.05× | 1.16× |
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% |
RBA
| Buyer Revenue | $577.2M | 48% |
| Seller Revenue | $255.2M | 21% |
| CA | $199.0M | 17% |
| Other | $124.7M | 10% |
| AU | $47.3M | 4% |
