vs
康宝莱（HLF）与Helmerich & Payne, Inc.（HP）财务数据对比。点击上方公司名可切换其他公司
康宝莱的季度营收约是Helmerich & Payne, Inc.的1.3倍（$1.3B vs $981.1M），康宝莱净利率更高（6.7% vs -9.9%，领先16.5%），Helmerich & Payne, Inc.同比增速更快（45.4% vs 6.3%），Helmerich & Payne, Inc.自由现金流更多（$114.9M vs $79.8M），过去两年Helmerich & Payne, Inc.的营收复合增速更高（19.7% vs 0.7%）
康宝莱是美国跨国多层次营销企业，主营膳食补充剂的研发与销售。该公司曾被指控涉嫌金字塔骗局欺诈运营，2016年与美国证监会达成协议后调整了薪酬体系，将经销商奖励与可核实的实际销售额挂钩。此外其部分产品曾被曝出引发急性肝炎的相关问题。
Helmerich & Payne（简称H&P）是总部位于美国俄克拉荷马州塔尔萨的跨国石油钻探承包商，为油气勘探开发企业提供钻井及相关配套服务。公司1998年推出的FlexRigs系列钻井平台广泛应用于非常规页岩地层钻探作业，是全球最大的陆上钻探服务商之一。
HLF vs HP — 直观对比
营收规模更大
HLF
是对方的1.3倍
$981.1M
营收增速更快
HP
高出39.2%
6.3%
净利率更高
HLF
高出16.5%
-9.9%
自由现金流更多
HP
多$35.1M
$79.8M
两年增速更快
HP
近两年复合增速
0.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $981.1M |
| 净利润 | $85.4M | $-96.7M |
| 毛利率 | 77.5% | — |
| 营业利润率 | 7.8% | -6.1% |
| 净利率 | 6.7% | -9.9% |
| 营收同比 | 6.3% | 45.4% |
| 净利润同比 | -52.0% | -276.6% |
| 每股收益（稀释后） | $0.81 | $-0.98 |
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HLFHP
| Q4 25 | $1.3B | $981.1M | ||
| Q3 25 | $1.3B | $953.8M | ||
| Q2 25 | $1.3B | $1.0B | ||
| Q1 25 | $1.2B | $1.0B | ||
| Q4 24 | $1.2B | $674.6M | ||
| Q3 24 | $1.2B | $691.3M | ||
| Q2 24 | $1.3B | $695.1M | ||
| Q1 24 | $1.3B | $685.1M |
净利润HLFHP
| Q4 25 | $85.4M | $-96.7M | ||
| Q3 25 | $43.2M | $-57.4M | ||
| Q2 25 | $49.3M | $-162.8M | ||
| Q1 25 | $50.4M | $1.7M | ||
| Q4 24 | $177.9M | $54.8M | ||
| Q3 24 | $47.4M | $75.5M | ||
| Q2 24 | $4.7M | $88.7M | ||
| Q1 24 | $24.3M | $84.8M |
毛利率HLFHP
| Q4 25 | 77.5% | — | ||
| Q3 25 | 77.7% | — | ||
| Q2 25 | 78.0% | — | ||
| Q1 25 | 78.3% | — | ||
| Q4 24 | 77.8% | — | ||
| Q3 24 | 78.3% | — | ||
| Q2 24 | 77.9% | — | ||
| Q1 24 | 77.5% | — |
营业利润率HLFHP
| Q4 25 | 7.8% | -6.1% | ||
| Q3 25 | 9.9% | -0.1% | ||
| Q2 25 | 10.5% | -12.4% | ||
| Q1 25 | 10.1% | 4.2% | ||
| Q4 24 | 8.8% | 13.3% | ||
| Q3 24 | 10.2% | 15.4% | ||
| Q2 24 | 6.3% | 16.0% | ||
| Q1 24 | 5.7% | 16.1% |
净利率HLFHP
| Q4 25 | 6.7% | -9.9% | ||
| Q3 25 | 3.4% | -6.0% | ||
| Q2 25 | 3.9% | -15.7% | ||
| Q1 25 | 4.1% | 0.2% | ||
| Q4 24 | 14.7% | 8.1% | ||
| Q3 24 | 3.8% | 10.9% | ||
| Q2 24 | 0.4% | 12.8% | ||
| Q1 24 | 1.9% | 12.4% |
每股收益（稀释后）HLFHP
| Q4 25 | $0.81 | $-0.98 | ||
| Q3 25 | $0.42 | $-0.57 | ||
| Q2 25 | $0.48 | $-1.64 | ||
| Q1 25 | $0.49 | $0.01 | ||
| Q4 24 | $1.75 | $0.54 | ||
| Q3 24 | $0.46 | $0.77 | ||
| Q2 24 | $0.05 | $0.88 | ||
| Q1 24 | $0.24 | $0.84 |
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 | $353.1M | $269.0M |
| 总债务越低越好 | $2.0B | $2.0B |
| 股东权益账面价值 | $-515.1M | $2.7B |
| 总资产 | $2.8B | $6.5B |
| 负债/权益比越低杠杆越低 | — | 0.75× |
8季度趋势，按日历期对齐
现金及短期投资HLFHP
| Q4 25 | $353.1M | $269.0M | ||
| Q3 25 | $305.5M | $218.3M | ||
| Q2 25 | $320.9M | $187.4M | ||
| Q1 25 | $329.4M | $195.6M | ||
| Q4 24 | $415.3M | $526.5M | ||
| Q3 24 | $402.5M | $510.3M | ||
| Q2 24 | $374.0M | $289.7M | ||
| Q1 24 | $398.3M | $277.0M |
总债务HLFHP
| Q4 25 | $2.0B | $2.0B | ||
| Q3 25 | $2.0B | $2.1B | ||
| Q2 25 | $2.1B | $2.2B | ||
| Q1 25 | $2.2B | $2.2B | ||
| Q4 24 | $2.3B | — | ||
| Q3 24 | $2.3B | $1.8B | ||
| Q2 24 | $2.3B | — | ||
| Q1 24 | $2.4B | — |
股东权益HLFHP
| Q4 25 | $-515.1M | $2.7B | ||
| Q3 25 | $-612.0M | $2.8B | ||
| Q2 25 | $-660.5M | $2.9B | ||
| Q1 25 | $-736.0M | $3.1B | ||
| Q4 24 | $-801.1M | $2.9B | ||
| Q3 24 | $-954.2M | $2.9B | ||
| Q2 24 | $-1.0B | $2.9B | ||
| Q1 24 | $-1.0B | $2.8B |
总资产HLFHP
| Q4 25 | $2.8B | $6.5B | ||
| Q3 25 | $2.7B | $6.7B | ||
| Q2 25 | $2.7B | $6.9B | ||
| Q1 25 | $2.7B | $7.2B | ||
| Q4 24 | $2.7B | $5.8B | ||
| Q3 24 | $2.7B | $5.8B | ||
| Q2 24 | $2.6B | $4.5B | ||
| Q1 24 | $2.6B | $4.4B |
负债/权益比HLFHP
| Q4 25 | — | 0.75× | ||
| Q3 25 | — | 0.73× | ||
| Q2 25 | — | 0.76× | ||
| Q1 25 | — | 0.73× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.61× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $98.3M | $182.4M |
| 自由现金流经营现金流 - 资本支出 | $79.8M | $114.9M |
| 自由现金流率自由现金流/营收 | 6.2% | 11.7% |
| 资本支出强度资本支出/营收 | 1.4% | 6.9% |
| 现金转化率经营现金流/净利润 | 1.15× | — |
| 过去12个月自由现金流最近4个季度 | $252.9M | $179.6M |
8季度趋势，按日历期对齐
经营现金流HLFHP
| Q4 25 | $98.3M | $182.4M | ||
| Q3 25 | $138.8M | $206.9M | ||
| Q2 25 | $96.0M | $121.6M | ||
| Q1 25 | $200.0K | $56.0M | ||
| Q4 24 | $69.6M | $158.4M | ||
| Q3 24 | $99.5M | $168.8M | ||
| Q2 24 | $102.5M | $197.4M | ||
| Q1 24 | $13.8M | $143.7M |
自由现金流HLFHP
| Q4 25 | $79.8M | $114.9M | ||
| Q3 25 | $118.0M | $142.8M | ||
| Q2 25 | $73.2M | $24.6M | ||
| Q1 25 | $-18.1M | $-102.7M | ||
| Q4 24 | $43.9M | $51.9M | ||
| Q3 24 | $72.4M | $62.8M | ||
| Q2 24 | $66.2M | $63.0M | ||
| Q1 24 | $-19.1M | $25.4M |
自由现金流率HLFHP
| Q4 25 | 6.2% | 11.7% | ||
| Q3 25 | 9.3% | 15.0% | ||
| Q2 25 | 5.8% | 2.4% | ||
| Q1 25 | -1.5% | -10.1% | ||
| Q4 24 | 3.6% | 7.7% | ||
| Q3 24 | 5.8% | 9.1% | ||
| Q2 24 | 5.2% | 9.1% | ||
| Q1 24 | -1.5% | 3.7% |
资本支出强度HLFHP
| Q4 25 | 1.4% | 6.9% | ||
| Q3 25 | 1.6% | 6.7% | ||
| Q2 25 | 1.8% | 9.3% | ||
| Q1 25 | 1.5% | 15.7% | ||
| Q4 24 | 2.1% | 15.8% | ||
| Q3 24 | 2.2% | 15.3% | ||
| Q2 24 | 2.8% | 19.3% | ||
| Q1 24 | 2.6% | 17.3% |
现金转化率HLFHP
| Q4 25 | 1.15× | — | ||
| Q3 25 | 3.21× | — | ||
| Q2 25 | 1.95× | — | ||
| Q1 25 | 0.00× | 33.89× | ||
| Q4 24 | 0.39× | 2.89× | ||
| Q3 24 | 2.10× | 2.24× | ||
| Q2 24 | 21.81× | 2.23× | ||
| Q1 24 | 0.57× | 1.69× |
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
HLF
| Others | $514.4M | 40% |
| Other | $300.0M | 23% |
| IN | $250.3M | 20% |
| MX | $147.2M | 11% |
| VN | $71.1M | 6% |
HP
| North America Solutions | $563.6M | 57% |
| International Solutions Segment | $229.3M | 23% |
| Offshore Solutions | $188.3M | 19% |
