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亨廷顿·英格尔斯工业（HII）与Kellanova（K）财务数据对比。点击上方公司名可切换其他公司
亨廷顿·英格尔斯工业的季度营收约是Kellanova的1.1倍（$3.5B vs $3.3B），Kellanova净利率更高（9.5% vs 4.6%，领先4.9%），亨廷顿·英格尔斯工业同比增速更快（15.7% vs 0.8%），亨廷顿·英格尔斯工业自由现金流更多（$516.0M vs $359.0M），过去两年亨廷顿·英格尔斯工业的营收复合增速更高（11.3% vs -9.0%）
亨廷顿·英格尔斯工业（简称HII）是美国规模最大的军用造船企业，同时面向政府及行业合作伙伴提供专业服务。公司于2011年3月31日从诺斯罗普·格鲁曼公司分拆成立，在防务装备建造及配套服务领域拥有深厚技术积累与行业资源。
Kellanova前身为知名食品企业家乐氏，是玛氏集团旗下的美国跨国食品制造公司，总部位于美国伊利诺伊州芝加哥。2023年10月2日公司正式启用现名，同步拆分北美谷物业务，独立成立WK Kellogg Co。
HII vs K — 直观对比
营收规模更大
HII
是对方的1.1倍
$3.3B
营收增速更快
HII
高出14.9%
0.8%
净利率更高
K
高出4.9%
4.6%
自由现金流更多
HII
多$157.0M
$359.0M
两年增速更快
HII
近两年复合增速
-9.0%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.5B | $3.3B |
| 净利润 | $159.0M | $309.0M |
| 毛利率 | — | 33.3% |
| 营业利润率 | 4.9% | 13.9% |
| 净利率 | 4.6% | 9.5% |
| 营收同比 | 15.7% | 0.8% |
| 净利润同比 | 29.3% | -15.8% |
| 每股收益（稀释后） | $4.06 | $0.88 |
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HIIK
| Q4 25 | $3.5B | — | ||
| Q3 25 | $3.2B | $3.3B | ||
| Q2 25 | $3.1B | $3.2B | ||
| Q1 25 | $2.7B | $3.1B | ||
| Q4 24 | $3.0B | $3.1B | ||
| Q3 24 | $2.7B | $3.2B | ||
| Q2 24 | $3.0B | $3.2B | ||
| Q1 24 | $2.8B | $3.2B |
净利润HIIK
| Q4 25 | $159.0M | — | ||
| Q3 25 | $145.0M | $309.0M | ||
| Q2 25 | $152.0M | $299.0M | ||
| Q1 25 | $149.0M | $304.0M | ||
| Q4 24 | $123.0M | $365.0M | ||
| Q3 24 | $101.0M | $367.0M | ||
| Q2 24 | $173.0M | $344.0M | ||
| Q1 24 | $153.0M | $267.0M |
毛利率HIIK
| Q4 25 | — | — | ||
| Q3 25 | — | 33.3% | ||
| Q2 25 | — | 34.0% | ||
| Q1 25 | — | 34.3% | ||
| Q4 24 | — | 37.7% | ||
| Q3 24 | — | 36.4% | ||
| Q2 24 | — | 36.4% | ||
| Q1 24 | — | 32.2% |
营业利润率HIIK
| Q4 25 | 4.9% | — | ||
| Q3 25 | 5.0% | 13.9% | ||
| Q2 25 | 5.3% | 13.7% | ||
| Q1 25 | 5.9% | 13.9% | ||
| Q4 24 | 3.7% | 17.0% | ||
| Q3 24 | 3.0% | 14.1% | ||
| Q2 24 | 6.3% | 15.4% | ||
| Q1 24 | 5.5% | 12.3% |
净利率HIIK
| Q4 25 | 4.6% | — | ||
| Q3 25 | 4.5% | 9.5% | ||
| Q2 25 | 4.9% | 9.3% | ||
| Q1 25 | 5.4% | 9.9% | ||
| Q4 24 | 4.1% | 11.7% | ||
| Q3 24 | 3.7% | 11.4% | ||
| Q2 24 | 5.8% | 10.8% | ||
| Q1 24 | 5.5% | 8.3% |
每股收益（稀释后）HIIK
| Q4 25 | $4.06 | — | ||
| Q3 25 | $3.68 | $0.88 | ||
| Q2 25 | $3.86 | $0.85 | ||
| Q1 25 | $3.79 | $0.87 | ||
| Q4 24 | $3.15 | $1.05 | ||
| Q3 24 | $2.56 | $1.05 | ||
| Q2 24 | $4.38 | $1.00 | ||
| Q1 24 | $3.87 | $0.78 |
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 | — | $240.0M |
| 总债务越低越好 | $2.7B | $4.3B |
| 股东权益账面价值 | $5.1B | $4.2B |
| 总资产 | $12.7B | $15.6B |
| 负债/权益比越低杠杆越低 | 0.53× | 1.02× |
8季度趋势，按日历期对齐
现金及短期投资HIIK
| Q4 25 | — | — | ||
| Q3 25 | — | $240.0M | ||
| Q2 25 | — | $354.0M | ||
| Q1 25 | — | $330.0M | ||
| Q4 24 | — | $694.0M | ||
| Q3 24 | — | $569.0M | ||
| Q2 24 | — | $272.0M | ||
| Q1 24 | $10.0M | $242.0M |
总债务HIIK
| Q4 25 | $2.7B | — | ||
| Q3 25 | — | $4.3B | ||
| Q2 25 | — | $4.3B | ||
| Q1 25 | — | $5.0B | ||
| Q4 24 | $2.7B | $5.0B | ||
| Q3 24 | — | $5.1B | ||
| Q2 24 | — | $5.0B | ||
| Q1 24 | — | $4.4B |
股东权益HIIK
| Q4 25 | $5.1B | — | ||
| Q3 25 | $5.0B | $4.2B | ||
| Q2 25 | $4.9B | $4.1B | ||
| Q1 25 | $4.8B | $3.9B | ||
| Q4 24 | $4.7B | $3.8B | ||
| Q3 24 | $4.2B | $3.6B | ||
| Q2 24 | $4.2B | $3.3B | ||
| Q1 24 | $4.1B | $3.2B |
总资产HIIK
| Q4 25 | $12.7B | — | ||
| Q3 25 | $12.3B | $15.6B | ||
| Q2 25 | $12.1B | $15.9B | ||
| Q1 25 | $12.1B | $15.5B | ||
| Q4 24 | $12.1B | $15.6B | ||
| Q3 24 | $11.1B | $15.8B | ||
| Q2 24 | $11.3B | $15.3B | ||
| Q1 24 | $11.2B | $15.3B |
负债/权益比HIIK
| Q4 25 | 0.53× | — | ||
| Q3 25 | — | 1.02× | ||
| Q2 25 | — | 1.05× | ||
| Q1 25 | — | 1.28× | ||
| Q4 24 | 0.58× | 1.32× | ||
| Q3 24 | — | 1.40× | ||
| Q2 24 | — | 1.51× | ||
| Q1 24 | — | 1.40× |
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 | $650.0M | $503.0M |
| 自由现金流经营现金流 - 资本支出 | $516.0M | $359.0M |
| 自由现金流率自由现金流/营收 | 14.8% | 11.0% |
| 资本支出强度资本支出/营收 | 3.9% | 4.4% |
| 现金转化率经营现金流/净利润 | 4.09× | 1.63× |
| 过去12个月自由现金流最近4个季度 | $794.0M | $599.0M |
8季度趋势，按日历期对齐
经营现金流HIIK
| Q4 25 | $650.0M | — | ||
| Q3 25 | $118.0M | $503.0M | ||
| Q2 25 | $823.0M | $169.0M | ||
| Q1 25 | $-395.0M | $116.0M | ||
| Q4 24 | $391.0M | $467.0M | ||
| Q3 24 | $213.0M | $553.0M | ||
| Q2 24 | $-9.0M | $376.0M | ||
| Q1 24 | $-202.0M | $364.0M |
自由现金流HIIK
| Q4 25 | $516.0M | — | ||
| Q3 25 | $13.0M | $359.0M | ||
| Q2 25 | $727.0M | $21.0M | ||
| Q1 25 | $-462.0M | $-60.0M | ||
| Q4 24 | $277.0M | $279.0M | ||
| Q3 24 | $125.0M | $410.0M | ||
| Q2 24 | $-99.0M | $234.0M | ||
| Q1 24 | $-277.0M | $209.0M |
自由现金流率HIIK
| Q4 25 | 14.8% | — | ||
| Q3 25 | 0.4% | 11.0% | ||
| Q2 25 | 23.6% | 0.7% | ||
| Q1 25 | -16.9% | -1.9% | ||
| Q4 24 | 9.2% | 8.9% | ||
| Q3 24 | 4.5% | 12.7% | ||
| Q2 24 | -3.3% | 7.3% | ||
| Q1 24 | -9.9% | 6.5% |
资本支出强度HIIK
| Q4 25 | 3.9% | — | ||
| Q3 25 | 3.3% | 4.4% | ||
| Q2 25 | 3.1% | 4.6% | ||
| Q1 25 | 2.5% | 5.7% | ||
| Q4 24 | 3.8% | 6.0% | ||
| Q3 24 | 3.2% | 4.4% | ||
| Q2 24 | 3.0% | 4.4% | ||
| Q1 24 | 2.7% | 4.8% |
现金转化率HIIK
| Q4 25 | 4.09× | — | ||
| Q3 25 | 0.81× | 1.63× | ||
| Q2 25 | 5.41× | 0.57× | ||
| Q1 25 | -2.65× | 0.38× | ||
| Q4 24 | 3.18× | 1.28× | ||
| Q3 24 | 2.11× | 1.51× | ||
| Q2 24 | -0.05× | 1.09× | ||
| Q1 24 | -1.32× | 1.36× |
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
HII
| Aircraftcarriers | $984.0M | 28% |
| Fixedpriceincentive | $758.0M | 22% |
| Submarines | $744.0M | 21% |
| Surfacecombatantsandcoastguardcutters | $452.0M | 13% |
| Amphibiousassaultships | $433.0M | 12% |
| Costtype | $123.0M | 4% |
| Otherprograms | $4.0M | 0% |
K
| Retail Channel Snacks | $2.0B | 62% |
| Retail Channel Cereal | $678.0M | 21% |
| Noodlesand Other | $280.0M | 9% |
| Frozen And Specialty Channels | $275.0M | 8% |
