vs
孩之宝（HAS）与泰瑞达（TER）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泰瑞达的1.3倍（$1.4B vs $1.1B），泰瑞达净利率更高（23.7% vs 13.9%，领先9.8%），泰瑞达同比增速更快（43.9% vs 31.3%），孩之宝自由现金流更多（$389.5M vs $218.8M），过去两年孩之宝的营收复合增速更高（38.2% vs 34.4%）
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。
泰瑞达是总部位于美国马萨诸塞州北雷丁的自动测试设备（ATE）设计及制造企业，在全球半导体测试领域拥有深厚技术积累，服务的知名客户涵盖三星、高通、英特尔、亚德诺、德州仪器、IBM等行业头部企业。
HAS vs TER — 直观对比
营收规模更大
HAS
是对方的1.3倍
$1.1B
营收增速更快
TER
高出12.6%
31.3%
净利率更高
TER
高出9.8%
13.9%
自由现金流更多
HAS
多$170.7M
$218.8M
两年增速更快
HAS
近两年复合增速
34.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.1B |
| 净利润 | $201.6M | $257.2M |
| 毛利率 | 68.7% | 57.2% |
| 营业利润率 | 20.6% | 27.1% |
| 净利率 | 13.9% | 23.7% |
| 营收同比 | 31.3% | 43.9% |
| 净利润同比 | 687.8% | 75.9% |
| 每股收益（稀释后） | $1.46 | $1.62 |
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HASTER
| Q4 25 | $1.4B | $1.1B | ||
| Q3 25 | $1.4B | $769.2M | ||
| Q2 25 | $980.8M | $651.8M | ||
| Q1 25 | $887.1M | $685.7M | ||
| Q4 24 | $1.1B | $752.9M | ||
| Q3 24 | $1.3B | $737.3M | ||
| Q2 24 | $995.3M | $729.9M | ||
| Q1 24 | $757.3M | $599.8M |
净利润HASTER
| Q4 25 | $201.6M | $257.2M | ||
| Q3 25 | $233.2M | $119.6M | ||
| Q2 25 | $-855.8M | $78.4M | ||
| Q1 25 | $98.6M | $98.9M | ||
| Q4 24 | $-34.3M | $146.3M | ||
| Q3 24 | $223.2M | $145.6M | ||
| Q2 24 | $138.5M | $186.3M | ||
| Q1 24 | $58.2M | $64.2M |
毛利率HASTER
| Q4 25 | 68.7% | 57.2% | ||
| Q3 25 | 70.1% | 58.4% | ||
| Q2 25 | 77.0% | 57.2% | ||
| Q1 25 | 76.9% | 60.6% | ||
| Q4 24 | 67.4% | 59.4% | ||
| Q3 24 | 70.4% | 59.2% | ||
| Q2 24 | 76.1% | 58.3% | ||
| Q1 24 | 73.0% | 56.6% |
营业利润率HASTER
| Q4 25 | 20.6% | 27.1% | ||
| Q3 25 | 24.6% | 18.9% | ||
| Q2 25 | -81.4% | 13.9% | ||
| Q1 25 | 19.2% | 17.6% | ||
| Q4 24 | 5.4% | 20.4% | ||
| Q3 24 | 23.6% | 20.6% | ||
| Q2 24 | 21.3% | 28.8% | ||
| Q1 24 | 15.3% | 13.0% |
净利率HASTER
| Q4 25 | 13.9% | 23.7% | ||
| Q3 25 | 16.8% | 15.5% | ||
| Q2 25 | -87.3% | 12.0% | ||
| Q1 25 | 11.1% | 14.4% | ||
| Q4 24 | -3.1% | 19.4% | ||
| Q3 24 | 17.4% | 19.8% | ||
| Q2 24 | 13.9% | 25.5% | ||
| Q1 24 | 7.7% | 10.7% |
每股收益（稀释后）HASTER
| Q4 25 | $1.46 | $1.62 | ||
| Q3 25 | $1.64 | $0.75 | ||
| Q2 25 | $-6.10 | $0.49 | ||
| Q1 25 | $0.70 | $0.61 | ||
| Q4 24 | $-0.25 | $0.89 | ||
| Q3 24 | $1.59 | $0.89 | ||
| Q2 24 | $0.99 | $1.14 | ||
| Q1 24 | $0.42 | $0.40 |
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 | — | $293.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $565.5M | $2.8B |
| 总资产 | $5.6B | $4.2B |
| 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HASTER
| Q4 25 | — | $293.8M | ||
| Q3 25 | — | $272.7M | ||
| Q2 25 | — | $339.3M | ||
| Q1 25 | — | $475.6M | ||
| Q4 24 | — | $553.4M | ||
| Q3 24 | — | $510.0M | ||
| Q2 24 | — | $421.9M | ||
| Q1 24 | — | $707.4M |
股东权益HASTER
| Q4 25 | $565.5M | $2.8B | ||
| Q3 25 | $433.8M | $2.7B | ||
| Q2 25 | $269.7M | $2.8B | ||
| Q1 25 | $1.2B | $2.8B | ||
| Q4 24 | $1.2B | $2.8B | ||
| Q3 24 | $1.3B | $2.9B | ||
| Q2 24 | $1.2B | $2.7B | ||
| Q1 24 | $1.0B | $2.6B |
总资产HASTER
| Q4 25 | $5.6B | $4.2B | ||
| Q3 25 | $5.5B | $4.0B | ||
| Q2 25 | $5.2B | $3.8B | ||
| Q1 25 | $6.0B | $3.7B | ||
| Q4 24 | $6.3B | $3.7B | ||
| Q3 24 | $7.2B | $3.8B | ||
| Q2 24 | $6.9B | $3.6B | ||
| Q1 24 | $6.2B | $3.4B |
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 | $281.6M |
| 自由现金流经营现金流 - 资本支出 | $389.5M | $218.8M |
| 自由现金流率自由现金流/营收 | 26.9% | 20.2% |
| 资本支出强度资本支出/营收 | 0.9% | 5.8% |
| 现金转化率经营现金流/净利润 | 2.00× | 1.09× |
| 过去12个月自由现金流最近4个季度 | $829.9M | $450.4M |
8季度趋势，按日历期对齐
经营现金流HASTER
| Q4 25 | $403.2M | $281.6M | ||
| Q3 25 | $280.6M | $49.0M | ||
| Q2 25 | $71.3M | $182.1M | ||
| Q1 25 | $138.1M | $161.6M | ||
| Q4 24 | $259.8M | $282.6M | ||
| Q3 24 | $222.5M | $166.3M | ||
| Q2 24 | $187.3M | $216.1M | ||
| Q1 24 | $177.8M | $7.3M |
自由现金流HASTER
| Q4 25 | $389.5M | $218.8M | ||
| Q3 25 | $260.9M | $2.4M | ||
| Q2 25 | $55.2M | $131.7M | ||
| Q1 25 | $124.3M | $97.6M | ||
| Q4 24 | $200.8M | $225.2M | ||
| Q3 24 | $174.0M | $114.4M | ||
| Q2 24 | $135.4M | $171.2M | ||
| Q1 24 | $132.0M | $-36.7M |
自由现金流率HASTER
| Q4 25 | 26.9% | 20.2% | ||
| Q3 25 | 18.8% | 0.3% | ||
| Q2 25 | 5.6% | 20.2% | ||
| Q1 25 | 14.0% | 14.2% | ||
| Q4 24 | 18.2% | 29.9% | ||
| Q3 24 | 13.6% | 15.5% | ||
| Q2 24 | 13.6% | 23.5% | ||
| Q1 24 | 17.4% | -6.1% |
资本支出强度HASTER
| Q4 25 | 0.9% | 5.8% | ||
| Q3 25 | 1.4% | 6.1% | ||
| Q2 25 | 1.6% | 7.7% | ||
| Q1 25 | 1.6% | 9.3% | ||
| Q4 24 | 5.4% | 7.6% | ||
| Q3 24 | 3.8% | 7.0% | ||
| Q2 24 | 5.2% | 6.1% | ||
| Q1 24 | 6.0% | 7.3% |
现金转化率HASTER
| Q4 25 | 2.00× | 1.09× | ||
| Q3 25 | 1.20× | 0.41× | ||
| Q2 25 | — | 2.32× | ||
| Q1 25 | 1.40× | 1.63× | ||
| Q4 24 | — | 1.93× | ||
| Q3 24 | 1.00× | 1.14× | ||
| Q2 24 | 1.35× | 1.16× | ||
| Q1 24 | 3.05× | 0.11× |
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% |
TER
| Soc | $646.5M | 60% |
| Memory | $206.5M | 19% |
| Transferred At Point In Time | $90.0M | 8% |
| Universal Robots | $89.4M | 8% |
| IST | $30.5M | 3% |
| Transferred Over Time | $20.5M | 2% |
