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孩之宝（HAS）与West Pharmaceutical Services（WST）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West Pharmaceutical Services的1.8倍（$1.4B vs $805.0M），West Pharmaceutical Services净利率更高（16.4% vs 13.9%，领先2.5%），孩之宝同比增速更快（31.3% vs 7.5%），孩之宝自由现金流更多（$389.5M vs $175.0M），过去两年孩之宝的营收复合增速更高（38.2% vs 7.6%）
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。
美国West Pharmaceutical Services是注射用药品包装及给药系统的设计和制造商，1923年成立，总部位于宾夕法尼亚州埃克斯顿。成立初期主营注射类药物包装用橡胶组件，曾为青霉素和胰岛素生产商提供符合无菌要求的配套产品。
HAS vs WST — 直观对比
营收规模更大
HAS
是对方的1.8倍
$805.0M
营收增速更快
HAS
高出23.7%
7.5%
净利率更高
WST
高出2.5%
13.9%
自由现金流更多
HAS
多$214.5M
$175.0M
两年增速更快
HAS
近两年复合增速
7.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $805.0M |
| 净利润 | $201.6M | $132.1M |
| 毛利率 | 68.7% | 37.8% |
| 营业利润率 | 20.6% | 19.5% |
| 净利率 | 13.9% | 16.4% |
| 营收同比 | 31.3% | 7.5% |
| 净利润同比 | 687.8% | 1.5% |
| 每股收益（稀释后） | $1.46 | $1.82 |
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HASWST
| Q4 25 | $1.4B | $805.0M | ||
| Q3 25 | $1.4B | $804.6M | ||
| Q2 25 | $980.8M | $766.5M | ||
| Q1 25 | $887.1M | $698.0M | ||
| Q4 24 | $1.1B | $748.8M | ||
| Q3 24 | $1.3B | $746.9M | ||
| Q2 24 | $995.3M | $702.1M | ||
| Q1 24 | $757.3M | $695.4M |
净利润HASWST
| Q4 25 | $201.6M | $132.1M | ||
| Q3 25 | $233.2M | $140.0M | ||
| Q2 25 | $-855.8M | $131.8M | ||
| Q1 25 | $98.6M | $89.8M | ||
| Q4 24 | $-34.3M | $130.1M | ||
| Q3 24 | $223.2M | $136.0M | ||
| Q2 24 | $138.5M | $111.3M | ||
| Q1 24 | $58.2M | $115.3M |
毛利率HASWST
| Q4 25 | 68.7% | 37.8% | ||
| Q3 25 | 70.1% | 36.6% | ||
| Q2 25 | 77.0% | 35.7% | ||
| Q1 25 | 76.9% | 33.2% | ||
| Q4 24 | 67.4% | 36.5% | ||
| Q3 24 | 70.4% | 35.4% | ||
| Q2 24 | 76.1% | 32.8% | ||
| Q1 24 | 73.0% | 33.1% |
营业利润率HASWST
| Q4 25 | 20.6% | 19.5% | ||
| Q3 25 | 24.6% | 20.8% | ||
| Q2 25 | -81.4% | 20.1% | ||
| Q1 25 | 19.2% | 15.3% | ||
| Q4 24 | 5.4% | 21.3% | ||
| Q3 24 | 23.6% | 21.6% | ||
| Q2 24 | 21.3% | 18.0% | ||
| Q1 24 | 15.3% | 17.7% |
净利率HASWST
| Q4 25 | 13.9% | 16.4% | ||
| Q3 25 | 16.8% | 17.4% | ||
| Q2 25 | -87.3% | 17.2% | ||
| Q1 25 | 11.1% | 12.9% | ||
| Q4 24 | -3.1% | 17.4% | ||
| Q3 24 | 17.4% | 18.2% | ||
| Q2 24 | 13.9% | 15.9% | ||
| Q1 24 | 7.7% | 16.6% |
每股收益（稀释后）HASWST
| Q4 25 | $1.46 | $1.82 | ||
| Q3 25 | $1.64 | $1.92 | ||
| Q2 25 | $-6.10 | $1.82 | ||
| Q1 25 | $0.70 | $1.23 | ||
| Q4 24 | $-0.25 | $1.78 | ||
| Q3 24 | $1.59 | $1.85 | ||
| Q2 24 | $0.99 | $1.51 | ||
| Q1 24 | $0.42 | $1.55 |
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 | — | $791.3M |
| 总债务越低越好 | — | $202.8M |
| 股东权益账面价值 | $565.5M | $3.2B |
| 总资产 | $5.6B | $4.3B |
| 负债/权益比越低杠杆越低 | — | 0.06× |
8季度趋势，按日历期对齐
现金及短期投资HASWST
| Q4 25 | — | $791.3M | ||
| Q3 25 | — | $628.5M | ||
| Q2 25 | — | $509.7M | ||
| Q1 25 | — | $404.2M | ||
| Q4 24 | — | $484.6M | ||
| Q3 24 | — | $490.9M | ||
| Q2 24 | — | $446.2M | ||
| Q1 24 | — | $601.8M |
总债务HASWST
| Q4 25 | — | $202.8M | ||
| Q3 25 | — | $202.7M | ||
| Q2 25 | — | $202.6M | ||
| Q1 25 | — | $202.6M | ||
| Q4 24 | — | $202.6M | ||
| Q3 24 | — | $202.6M | ||
| Q2 24 | — | $205.8M | ||
| Q1 24 | — | $206.2M |
股东权益HASWST
| Q4 25 | $565.5M | $3.2B | ||
| Q3 25 | $433.8M | $3.1B | ||
| Q2 25 | $269.7M | $2.9B | ||
| Q1 25 | $1.2B | $2.7B | ||
| Q4 24 | $1.2B | $2.7B | ||
| Q3 24 | $1.3B | $2.8B | ||
| Q2 24 | $1.2B | $2.6B | ||
| Q1 24 | $1.0B | $2.7B |
总资产HASWST
| Q4 25 | $5.6B | $4.3B | ||
| Q3 25 | $5.5B | $4.1B | ||
| Q2 25 | $5.2B | $4.0B | ||
| Q1 25 | $6.0B | $3.6B | ||
| Q4 24 | $6.3B | $3.6B | ||
| Q3 24 | $7.2B | $3.7B | ||
| Q2 24 | $6.9B | $3.5B | ||
| Q1 24 | $6.2B | $3.6B |
负债/权益比HASWST
| Q4 25 | — | 0.06× | ||
| Q3 25 | — | 0.07× | ||
| Q2 25 | — | 0.07× | ||
| Q1 25 | — | 0.08× | ||
| Q4 24 | — | 0.08× | ||
| Q3 24 | — | 0.07× | ||
| Q2 24 | — | 0.08× | ||
| Q1 24 | — | 0.08× |
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 | $251.1M |
| 自由现金流经营现金流 - 资本支出 | $389.5M | $175.0M |
| 自由现金流率自由现金流/营收 | 26.9% | 21.7% |
| 资本支出强度资本支出/营收 | 0.9% | 9.5% |
| 现金转化率经营现金流/净利润 | 2.00× | 1.90× |
| 过去12个月自由现金流最近4个季度 | $829.9M | $468.9M |
8季度趋势，按日历期对齐
经营现金流HASWST
| Q4 25 | $403.2M | $251.1M | ||
| Q3 25 | $280.6M | $197.2M | ||
| Q2 25 | $71.3M | $177.1M | ||
| Q1 25 | $138.1M | $129.4M | ||
| Q4 24 | $259.8M | $190.1M | ||
| Q3 24 | $222.5M | $180.1M | ||
| Q2 24 | $187.3M | $165.0M | ||
| Q1 24 | $177.8M | $118.2M |
自由现金流HASWST
| Q4 25 | $389.5M | $175.0M | ||
| Q3 25 | $260.9M | $133.9M | ||
| Q2 25 | $55.2M | $101.9M | ||
| Q1 25 | $124.3M | $58.1M | ||
| Q4 24 | $200.8M | $85.2M | ||
| Q3 24 | $174.0M | $98.8M | ||
| Q2 24 | $135.4M | $64.8M | ||
| Q1 24 | $132.0M | $27.6M |
自由现金流率HASWST
| Q4 25 | 26.9% | 21.7% | ||
| Q3 25 | 18.8% | 16.6% | ||
| Q2 25 | 5.6% | 13.3% | ||
| Q1 25 | 14.0% | 8.3% | ||
| Q4 24 | 18.2% | 11.4% | ||
| Q3 24 | 13.6% | 13.2% | ||
| Q2 24 | 13.6% | 9.2% | ||
| Q1 24 | 17.4% | 4.0% |
资本支出强度HASWST
| Q4 25 | 0.9% | 9.5% | ||
| Q3 25 | 1.4% | 7.9% | ||
| Q2 25 | 1.6% | 9.8% | ||
| Q1 25 | 1.6% | 10.2% | ||
| Q4 24 | 5.4% | 14.0% | ||
| Q3 24 | 3.8% | 10.9% | ||
| Q2 24 | 5.2% | 14.3% | ||
| Q1 24 | 6.0% | 13.0% |
现金转化率HASWST
| Q4 25 | 2.00× | 1.90× | ||
| Q3 25 | 1.20× | 1.41× | ||
| Q2 25 | — | 1.34× | ||
| Q1 25 | 1.40× | 1.44× | ||
| Q4 24 | — | 1.46× | ||
| Q3 24 | 1.00× | 1.32× | ||
| Q2 24 | 1.35× | 1.48× | ||
| Q1 24 | 3.05× | 1.03× |
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% |
WST
| Proprietary Products | $661.8M | 82% |
| Contract Manufactured Products | $143.2M | 18% |
| Affiliated Entity | $3.3M | 0% |
