vs
伯克希尔·哈撒韦（HEI）与惠好（WY）财务数据对比。点击上方公司名可切换其他公司
惠好的季度营收约是伯克希尔·哈撒韦的1.3倍（$1.5B vs $1.2B），伯克希尔·哈撒韦净利率更高（15.6% vs 4.8%，领先10.8%），伯克希尔·哈撒韦同比增速更快（19.3% vs -9.8%），伯克希尔·哈撒韦自由现金流更多（$268.5M vs $-128.0M），过去两年伯克希尔·哈撒韦的营收复合增速更高（16.2% vs -7.4%）
伯克希尔·哈撒韦是总部位于美国内布拉斯加州奥马哈的跨国综合控股集团，最初主营纺织品制造，1965年起在董事长兼首席执行官沃伦·巴菲特、副董事长查理·芒格的带领下转型为多元化企业集团，2026年初格雷格·阿贝尔接任首席执行官，巴菲特个人持有公司38.4%的A类有投票权股份，对应15.1%的整体经济权益。
惠好是美国知名林地运营企业，在美国本土持有约1040万英亩林地，同时通过长期许可协议在加拿大管理额外1400万英亩林地。企业拥有逾百年木制品生产历史，目前以房地产投资信托（REIT）模式运营。
HEI vs WY — 直观对比
营收规模更大
WY
是对方的1.3倍
$1.2B
营收增速更快
HEI
高出29.1%
-9.8%
净利率更高
HEI
高出10.8%
4.8%
自由现金流更多
HEI
多$396.5M
$-128.0M
两年增速更快
HEI
近两年复合增速
-7.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.5B |
| 净利润 | $188.3M | $74.0M |
| 毛利率 | 40.2% | 10.4% |
| 营业利润率 | 23.1% | 16.3% |
| 净利率 | 15.6% | 4.8% |
| 营收同比 | 19.3% | -9.8% |
| 净利润同比 | 34.8% | -8.6% |
| 每股收益（稀释后） | $1.32 | $0.11 |
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HEIWY
| Q4 25 | $1.2B | $1.5B | ||
| Q3 25 | $1.1B | $1.7B | ||
| Q2 25 | $1.1B | $1.9B | ||
| Q1 25 | $1.0B | $1.8B | ||
| Q4 24 | $1.0B | $1.7B | ||
| Q3 24 | $992.2M | $1.7B | ||
| Q2 24 | $955.4M | $1.9B | ||
| Q1 24 | $896.4M | $1.8B |
净利润HEIWY
| Q4 25 | $188.3M | $74.0M | ||
| Q3 25 | $177.3M | $80.0M | ||
| Q2 25 | $156.8M | $87.0M | ||
| Q1 25 | $168.0M | $83.0M | ||
| Q4 24 | $139.7M | $81.0M | ||
| Q3 24 | $136.6M | $28.0M | ||
| Q2 24 | $123.1M | $173.0M | ||
| Q1 24 | $114.7M | $114.0M |
毛利率HEIWY
| Q4 25 | 40.2% | 10.4% | ||
| Q3 25 | 39.8% | 11.9% | ||
| Q2 25 | 39.9% | 17.3% | ||
| Q1 25 | 39.4% | 19.0% | ||
| Q4 24 | 38.9% | 17.8% | ||
| Q3 24 | 39.2% | 14.9% | ||
| Q2 24 | 38.9% | 20.8% | ||
| Q1 24 | 38.7% | 19.8% |
营业利润率HEIWY
| Q4 25 | 23.1% | 16.3% | ||
| Q3 25 | 23.1% | 7.2% | ||
| Q2 25 | 22.6% | 9.4% | ||
| Q1 25 | 22.0% | 10.2% | ||
| Q4 24 | 21.6% | 8.3% | ||
| Q3 24 | 21.8% | 4.6% | ||
| Q2 24 | 21.9% | 13.9% | ||
| Q1 24 | 20.1% | 10.9% |
净利率HEIWY
| Q4 25 | 15.6% | 4.8% | ||
| Q3 25 | 15.5% | 4.7% | ||
| Q2 25 | 14.3% | 4.6% | ||
| Q1 25 | 16.3% | 4.7% | ||
| Q4 24 | 13.8% | 4.7% | ||
| Q3 24 | 13.8% | 1.7% | ||
| Q2 24 | 12.9% | 8.9% | ||
| Q1 24 | 12.8% | 6.3% |
每股收益（稀释后）HEIWY
| Q4 25 | $1.32 | $0.11 | ||
| Q3 25 | $1.26 | $0.11 | ||
| Q2 25 | $1.12 | $0.12 | ||
| Q1 25 | $1.20 | $0.11 | ||
| Q4 24 | $1.00 | $0.10 | ||
| Q3 24 | $0.97 | $0.04 | ||
| Q2 24 | $0.88 | $0.24 | ||
| Q1 24 | $0.82 | $0.16 |
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 | $217.8M | $464.0M |
| 总债务越低越好 | $2.2B | $5.6B |
| 股东权益账面价值 | $4.3B | $9.4B |
| 总资产 | $8.5B | $16.6B |
| 负债/权益比越低杠杆越低 | 0.50× | 0.59× |
8季度趋势，按日历期对齐
现金及短期投资HEIWY
| Q4 25 | $217.8M | $464.0M | ||
| Q3 25 | $261.9M | $401.0M | ||
| Q2 25 | $242.3M | $592.0M | ||
| Q1 25 | $165.5M | $560.0M | ||
| Q4 24 | $162.1M | $684.0M | ||
| Q3 24 | $202.9M | $877.0M | ||
| Q2 24 | $204.2M | $997.0M | ||
| Q1 24 | $196.3M | $871.0M |
总债务HEIWY
| Q4 25 | $2.2B | $5.6B | ||
| Q3 25 | $2.4B | — | ||
| Q2 25 | $2.3B | — | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | $2.2B | $5.1B | ||
| Q3 24 | $2.3B | — | ||
| Q2 24 | $2.4B | — | ||
| Q1 24 | $2.5B | — |
股东权益HEIWY
| Q4 25 | $4.3B | $9.4B | ||
| Q3 25 | $4.1B | $9.4B | ||
| Q2 25 | $4.0B | $9.5B | ||
| Q1 25 | $3.7B | $9.6B | ||
| Q4 24 | $3.6B | $9.7B | ||
| Q3 24 | $3.5B | $9.9B | ||
| Q2 24 | $3.4B | $10.0B | ||
| Q1 24 | $3.3B | $10.1B |
总资产HEIWY
| Q4 25 | $8.5B | $16.6B | ||
| Q3 25 | $8.5B | $16.7B | ||
| Q2 25 | $8.1B | $16.5B | ||
| Q1 25 | $7.9B | $16.5B | ||
| Q4 24 | $7.6B | $16.5B | ||
| Q3 24 | $7.4B | $16.7B | ||
| Q2 24 | $7.4B | $16.8B | ||
| Q1 24 | $7.3B | $16.8B |
负债/权益比HEIWY
| Q4 25 | 0.50× | 0.59× | ||
| Q3 25 | 0.59× | — | ||
| Q2 25 | 0.57× | — | ||
| Q1 25 | 0.63× | — | ||
| Q4 24 | 0.61× | 0.52× | ||
| Q3 24 | 0.64× | — | ||
| Q2 24 | 0.70× | — | ||
| Q1 24 | 0.76× | — |
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 | $295.3M | $-114.0M |
| 自由现金流经营现金流 - 资本支出 | $268.5M | $-128.0M |
| 自由现金流率自由现金流/营收 | 22.2% | -8.3% |
| 资本支出强度资本支出/营收 | 2.2% | 0.9% |
| 现金转化率经营现金流/净利润 | 1.57× | -1.54× |
| 过去12个月自由现金流最近4个季度 | $861.4M | $511.0M |
8季度趋势，按日历期对齐
经营现金流HEIWY
| Q4 25 | $295.3M | $-114.0M | ||
| Q3 25 | $231.2M | $210.0M | ||
| Q2 25 | $204.7M | $396.0M | ||
| Q1 25 | $203.0M | $70.0M | ||
| Q4 24 | $205.6M | $218.0M | ||
| Q3 24 | $214.0M | $234.0M | ||
| Q2 24 | $141.1M | $432.0M | ||
| Q1 24 | $111.7M | $124.0M |
自由现金流HEIWY
| Q4 25 | $268.5M | $-128.0M | ||
| Q3 25 | $218.5M | $203.0M | ||
| Q2 25 | $188.7M | $388.0M | ||
| Q1 25 | $185.7M | $48.0M | ||
| Q4 24 | $189.5M | $205.0M | ||
| Q3 24 | $198.1M | $226.0M | ||
| Q2 24 | $128.2M | $423.0M | ||
| Q1 24 | $98.3M | $102.0M |
自由现金流率HEIWY
| Q4 25 | 22.2% | -8.3% | ||
| Q3 25 | 19.0% | 11.8% | ||
| Q2 25 | 17.2% | 20.6% | ||
| Q1 25 | 18.0% | 2.7% | ||
| Q4 24 | 18.7% | 12.0% | ||
| Q3 24 | 20.0% | 13.4% | ||
| Q2 24 | 13.4% | 21.8% | ||
| Q1 24 | 11.0% | 5.7% |
资本支出强度HEIWY
| Q4 25 | 2.2% | 0.9% | ||
| Q3 25 | 1.1% | 0.4% | ||
| Q2 25 | 1.5% | 0.4% | ||
| Q1 25 | 1.7% | 1.2% | ||
| Q4 24 | 1.6% | 0.8% | ||
| Q3 24 | 1.6% | 0.5% | ||
| Q2 24 | 1.4% | 0.5% | ||
| Q1 24 | 1.5% | 1.2% |
现金转化率HEIWY
| Q4 25 | 1.57× | -1.54× | ||
| Q3 25 | 1.30× | 2.63× | ||
| Q2 25 | 1.31× | 4.55× | ||
| Q1 25 | 1.21× | 0.84× | ||
| Q4 24 | 1.47× | 2.69× | ||
| Q3 24 | 1.57× | 8.36× | ||
| Q2 24 | 1.15× | 2.50× | ||
| Q1 24 | 0.97× | 1.09× |
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
HEI
| Aftermarket Replacement Parts | $510.0M | 42% |
| Electronic Componentsfor Defense Spaceand Aerospace | $311.8M | 26% |
| Defenseand Space | $170.6M | 14% |
| Specialty Products | $118.9M | 10% |
| Other Electronic Components | $73.0M | 6% |
| Other Industries | $15.9M | 1% |
WY
暂无分部数据
