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康宝莱（HLF）与KeyCorp（KEY）财务数据对比。点击上方公司名可切换其他公司
KeyCorp的季度营收约是康宝莱的1.6倍（$2.0B vs $1.3B），KeyCorp净利率更高（25.4% vs 6.7%，领先18.8%），KeyCorp同比增速更快（131.8% vs 6.3%），KeyCorp自由现金流更多（$2.1B vs $79.8M），过去两年KeyCorp的营收复合增速更高（14.4% 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。
Key是日本知名视觉小说工作室，1998年7月21日作为发行商Visual Arts旗下品牌成立，总部位于大阪市北区。工作室主打剧情向作品，擅长创作情感饱满、情节跌宕的戏剧类内容，旗下多款作品深受全球ACG爱好者喜爱。
HLF vs KEY — 直观对比
营收规模更大
KEY
是对方的1.6倍
$1.3B
营收增速更快
KEY
高出125.5%
6.3%
净利率更高
KEY
高出18.8%
6.7%
自由现金流更多
KEY
多$2.0B
$79.8M
两年增速更快
KEY
近两年复合增速
0.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $2.0B |
| 净利润 | $85.4M | $510.0M |
| 毛利率 | 77.5% | — |
| 营业利润率 | 7.8% | 32.3% |
| 净利率 | 6.7% | 25.4% |
| 营收同比 | 6.3% | 131.8% |
| 净利润同比 | -52.0% | 309.0% |
| 每股收益（稀释后） | $0.81 | $0.43 |
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HLFKEY
| Q4 25 | $1.3B | $2.0B | ||
| Q3 25 | $1.3B | $1.9B | ||
| Q2 25 | $1.3B | $1.8B | ||
| Q1 25 | $1.2B | $1.8B | ||
| Q4 24 | $1.2B | $865.0M | ||
| Q3 24 | $1.2B | $695.0M | ||
| Q2 24 | $1.3B | $1.5B | ||
| Q1 24 | $1.3B | $1.5B |
净利润HLFKEY
| Q4 25 | $85.4M | $510.0M | ||
| Q3 25 | $43.2M | $489.0M | ||
| Q2 25 | $49.3M | $425.0M | ||
| Q1 25 | $50.4M | $405.0M | ||
| Q4 24 | $177.9M | $-244.0M | ||
| Q3 24 | $47.4M | $-410.0M | ||
| Q2 24 | $4.7M | $274.0M | ||
| Q1 24 | $24.3M | $219.0M |
毛利率HLFKEY
| 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HLFKEY
| Q4 25 | 7.8% | 32.3% | ||
| Q3 25 | 9.9% | 31.8% | ||
| Q2 25 | 10.5% | 29.3% | ||
| Q1 25 | 10.1% | 29.0% | ||
| Q4 24 | 8.8% | -92.6% | ||
| Q3 24 | 10.2% | -72.8% | ||
| Q2 24 | 6.3% | 22.0% | ||
| Q1 24 | 5.7% | 18.1% |
净利率HLFKEY
| Q4 25 | 6.7% | 25.4% | ||
| Q3 25 | 3.4% | 25.8% | ||
| Q2 25 | 3.9% | 23.1% | ||
| Q1 25 | 4.1% | 22.8% | ||
| Q4 24 | 14.7% | -54.7% | ||
| Q3 24 | 3.8% | -59.0% | ||
| Q2 24 | 0.4% | 18.0% | ||
| Q1 24 | 1.9% | 14.3% |
每股收益（稀释后）HLFKEY
| Q4 25 | $0.81 | $0.43 | ||
| Q3 25 | $0.42 | $0.41 | ||
| Q2 25 | $0.48 | $0.35 | ||
| Q1 25 | $0.49 | $0.33 | ||
| Q4 24 | $1.75 | $-0.30 | ||
| Q3 24 | $0.46 | $-0.47 | ||
| Q2 24 | $0.05 | $0.25 | ||
| Q1 24 | $0.24 | $0.20 |
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 | $10.2B |
| 总债务越低越好 | $2.0B | $9.9B |
| 股东权益账面价值 | $-515.1M | $20.4B |
| 总资产 | $2.8B | $184.4B |
| 负债/权益比越低杠杆越低 | — | 0.49× |
8季度趋势，按日历期对齐
现金及短期投资HLFKEY
| Q4 25 | $353.1M | $10.2B | ||
| Q3 25 | $305.5M | $13.3B | ||
| Q2 25 | $320.9M | $11.6B | ||
| Q1 25 | $329.4M | $15.3B | ||
| Q4 24 | $415.3M | $17.5B | ||
| Q3 24 | $402.5M | $22.8B | ||
| Q2 24 | $374.0M | $15.5B | ||
| Q1 24 | $398.3M | $13.2B |
总债务HLFKEY
| Q4 25 | $2.0B | $9.9B | ||
| Q3 25 | $2.0B | $10.9B | ||
| Q2 25 | $2.1B | $12.1B | ||
| Q1 25 | $2.2B | $12.4B | ||
| Q4 24 | $2.3B | $12.1B | ||
| Q3 24 | $2.3B | $15.7B | ||
| Q2 24 | $2.3B | $16.9B | ||
| Q1 24 | $2.4B | $20.8B |
股东权益HLFKEY
| Q4 25 | $-515.1M | $20.4B | ||
| Q3 25 | $-612.0M | $20.1B | ||
| Q2 25 | $-660.5M | $19.5B | ||
| Q1 25 | $-736.0M | $19.0B | ||
| Q4 24 | $-801.1M | $18.2B | ||
| Q3 24 | $-954.2M | $16.9B | ||
| Q2 24 | $-1.0B | $14.8B | ||
| Q1 24 | $-1.0B | $14.5B |
总资产HLFKEY
| Q4 25 | $2.8B | $184.4B | ||
| Q3 25 | $2.7B | $187.4B | ||
| Q2 25 | $2.7B | $185.5B | ||
| Q1 25 | $2.7B | $188.7B | ||
| Q4 24 | $2.7B | $187.2B | ||
| Q3 24 | $2.7B | $189.8B | ||
| Q2 24 | $2.6B | $187.4B | ||
| Q1 24 | $2.6B | $187.5B |
负债/权益比HLFKEY
| Q4 25 | — | 0.49× | ||
| Q3 25 | — | 0.54× | ||
| Q2 25 | — | 0.62× | ||
| Q1 25 | — | 0.65× | ||
| Q4 24 | — | 0.67× | ||
| Q3 24 | — | 0.93× | ||
| Q2 24 | — | 1.14× | ||
| Q1 24 | — | 1.43× |
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 | $2.2B |
| 自由现金流经营现金流 - 资本支出 | $79.8M | $2.1B |
| 自由现金流率自由现金流/营收 | 6.2% | 104.8% |
| 资本支出强度资本支出/营收 | 1.4% | 5.3% |
| 现金转化率经营现金流/净利润 | 1.15× | 4.33× |
| 过去12个月自由现金流最近4个季度 | $252.9M | $3.5B |
8季度趋势，按日历期对齐
经营现金流HLFKEY
| Q4 25 | $98.3M | $2.2B | ||
| Q3 25 | $138.8M | $396.0M | ||
| Q2 25 | $96.0M | $1.2B | ||
| Q1 25 | $200.0K | $-140.0M | ||
| Q4 24 | $69.6M | $664.0M | ||
| Q3 24 | $99.5M | $-1.2B | ||
| Q2 24 | $102.5M | $-217.0M | ||
| Q1 24 | $13.8M | $359.0M |
自由现金流HLFKEY
| Q4 25 | $79.8M | $2.1B | ||
| Q3 25 | $118.0M | $367.0M | ||
| Q2 25 | $73.2M | $1.2B | ||
| Q1 25 | $-18.1M | $-150.0M | ||
| Q4 24 | $43.9M | $599.0M | ||
| Q3 24 | $72.4M | $-1.2B | ||
| Q2 24 | $66.2M | $-230.0M | ||
| Q1 24 | $-19.1M | $347.0M |
自由现金流率HLFKEY
| Q4 25 | 6.2% | 104.8% | ||
| Q3 25 | 9.3% | 19.4% | ||
| Q2 25 | 5.8% | 65.8% | ||
| Q1 25 | -1.5% | -8.5% | ||
| Q4 24 | 3.6% | 69.2% | ||
| Q3 24 | 5.8% | -175.8% | ||
| Q2 24 | 5.2% | -15.1% | ||
| Q1 24 | -1.5% | 22.6% |
资本支出强度HLFKEY
| Q4 25 | 1.4% | 5.3% | ||
| Q3 25 | 1.6% | 1.5% | ||
| Q2 25 | 1.8% | 1.3% | ||
| Q1 25 | 1.5% | 0.6% | ||
| Q4 24 | 2.1% | 7.5% | ||
| Q3 24 | 2.2% | 2.4% | ||
| Q2 24 | 2.8% | 0.9% | ||
| Q1 24 | 2.6% | 0.8% |
现金转化率HLFKEY
| Q4 25 | 1.15× | 4.33× | ||
| Q3 25 | 3.21× | 0.81× | ||
| Q2 25 | 1.95× | 2.90× | ||
| Q1 25 | 0.00× | -0.35× | ||
| Q4 24 | 0.39× | — | ||
| Q3 24 | 2.10× | — | ||
| Q2 24 | 21.81× | -0.79× | ||
| Q1 24 | 0.57× | 1.64× |
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% |
KEY
暂无分部数据
