vs
康宝莱（HLF）与Reddit, Inc.（RDDT）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Reddit, Inc.的1.8倍（$1.3B vs $725.6M），Reddit, Inc.净利率更高（34.7% vs 6.7%，领先28.0%），Reddit, Inc.同比增速更快（69.7% vs 6.3%），Reddit, Inc.自由现金流更多（$263.6M vs $79.8M），过去两年Reddit, Inc.的营收复合增速更高（72.8% 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。
Reddit是美国知名的社交新闻聚合与论坛类社交媒体平台，注册用户可发布链接、文字帖、图片、视频等各类内容，其他用户可对内容进行点赞或点踩，内容按主题归类到用户创建的子板块中，获赞更高的内容会排在板块前列，热度足够的内容还将展示在全站首页。
HLF vs RDDT — 直观对比
营收规模更大
HLF
是对方的1.8倍
$725.6M
营收增速更快
RDDT
高出63.4%
6.3%
净利率更高
RDDT
高出28.0%
6.7%
自由现金流更多
RDDT
多$183.8M
$79.8M
两年增速更快
RDDT
近两年复合增速
0.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $725.6M |
| 净利润 | $85.4M | $251.6M |
| 毛利率 | 77.5% | 91.9% |
| 营业利润率 | 7.8% | 31.9% |
| 净利率 | 6.7% | 34.7% |
| 营收同比 | 6.3% | 69.7% |
| 净利润同比 | -52.0% | 254.2% |
| 每股收益（稀释后） | $0.81 | $1.24 |
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HLFRDDT
| Q4 25 | $1.3B | $725.6M | ||
| Q3 25 | $1.3B | $584.9M | ||
| Q2 25 | $1.3B | $499.6M | ||
| Q1 25 | $1.2B | $392.4M | ||
| Q4 24 | $1.2B | $427.7M | ||
| Q3 24 | $1.2B | $348.4M | ||
| Q2 24 | $1.3B | $281.2M | ||
| Q1 24 | $1.3B | $243.0M |
净利润HLFRDDT
| Q4 25 | $85.4M | $251.6M | ||
| Q3 25 | $43.2M | $162.7M | ||
| Q2 25 | $49.3M | $89.3M | ||
| Q1 25 | $50.4M | $26.2M | ||
| Q4 24 | $177.9M | $71.0M | ||
| Q3 24 | $47.4M | $29.9M | ||
| Q2 24 | $4.7M | $-10.1M | ||
| Q1 24 | $24.3M | $-575.1M |
毛利率HLFRDDT
| Q4 25 | 77.5% | 91.9% | ||
| Q3 25 | 77.7% | 91.0% | ||
| Q2 25 | 78.0% | 90.8% | ||
| Q1 25 | 78.3% | 90.5% | ||
| Q4 24 | 77.8% | 92.6% | ||
| Q3 24 | 78.3% | 90.1% | ||
| Q2 24 | 77.9% | 89.5% | ||
| Q1 24 | 77.5% | 88.6% |
营业利润率HLFRDDT
| Q4 25 | 7.8% | 31.9% | ||
| Q3 25 | 9.9% | 23.7% | ||
| Q2 25 | 10.5% | 13.6% | ||
| Q1 25 | 10.1% | 1.0% | ||
| Q4 24 | 8.8% | 12.4% | ||
| Q3 24 | 10.2% | 2.0% | ||
| Q2 24 | 6.3% | -11.0% | ||
| Q1 24 | 5.7% | -242.5% |
净利率HLFRDDT
| Q4 25 | 6.7% | 34.7% | ||
| Q3 25 | 3.4% | 27.8% | ||
| Q2 25 | 3.9% | 17.9% | ||
| Q1 25 | 4.1% | 6.7% | ||
| Q4 24 | 14.7% | 16.6% | ||
| Q3 24 | 3.8% | 8.6% | ||
| Q2 24 | 0.4% | -3.6% | ||
| Q1 24 | 1.9% | -236.7% |
每股收益（稀释后）HLFRDDT
| Q4 25 | $0.81 | $1.24 | ||
| Q3 25 | $0.42 | $0.80 | ||
| Q2 25 | $0.48 | $0.45 | ||
| Q1 25 | $0.49 | $0.13 | ||
| Q4 24 | $1.75 | $4.76 | ||
| Q3 24 | $0.46 | $0.16 | ||
| Q2 24 | $0.05 | $-0.06 | ||
| Q1 24 | $0.24 | $-8.19 |
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 | $953.6M |
| 总债务越低越好 | $2.0B | — |
| 股东权益账面价值 | $-515.1M | $2.9B |
| 总资产 | $2.8B | $3.2B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资HLFRDDT
| Q4 25 | $353.1M | $953.6M | ||
| Q3 25 | $305.5M | $911.7M | ||
| Q2 25 | $320.9M | $734.1M | ||
| Q1 25 | $329.4M | $635.7M | ||
| Q4 24 | $415.3M | $562.1M | ||
| Q3 24 | $402.5M | $515.9M | ||
| Q2 24 | $374.0M | $468.0M | ||
| Q1 24 | $398.3M | $968.5M |
总债务HLFRDDT
| Q4 25 | $2.0B | — | ||
| Q3 25 | $2.0B | — | ||
| Q2 25 | $2.1B | — | ||
| Q1 25 | $2.2B | — | ||
| Q4 24 | $2.3B | — | ||
| Q3 24 | $2.3B | — | ||
| Q2 24 | $2.3B | — | ||
| Q1 24 | $2.4B | — |
股东权益HLFRDDT
| Q4 25 | $-515.1M | $2.9B | ||
| Q3 25 | $-612.0M | $2.6B | ||
| Q2 25 | $-660.5M | $2.4B | ||
| Q1 25 | $-736.0M | $2.2B | ||
| Q4 24 | $-801.1M | $2.1B | ||
| Q3 24 | $-954.2M | $2.0B | ||
| Q2 24 | $-1.0B | $1.9B | ||
| Q1 24 | $-1.0B | $1.8B |
总资产HLFRDDT
| Q4 25 | $2.8B | $3.2B | ||
| Q3 25 | $2.7B | $2.9B | ||
| Q2 25 | $2.7B | $2.6B | ||
| Q1 25 | $2.7B | $2.4B | ||
| Q4 24 | $2.7B | $2.3B | ||
| Q3 24 | $2.7B | $2.2B | ||
| Q2 24 | $2.6B | $2.1B | ||
| Q1 24 | $2.6B | $2.0B |
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 | $266.8M |
| 自由现金流经营现金流 - 资本支出 | $79.8M | $263.6M |
| 自由现金流率自由现金流/营收 | 6.2% | 36.3% |
| 资本支出强度资本支出/营收 | 1.4% | 0.4% |
| 现金转化率经营现金流/净利润 | 1.15× | 1.06× |
| 过去12个月自由现金流最近4个季度 | $252.9M | $684.2M |
8季度趋势，按日历期对齐
经营现金流HLFRDDT
| Q4 25 | $98.3M | $266.8M | ||
| Q3 25 | $138.8M | $185.2M | ||
| Q2 25 | $96.0M | $111.3M | ||
| Q1 25 | $200.0K | $127.6M | ||
| Q4 24 | $69.6M | $90.0M | ||
| Q3 24 | $99.5M | $71.6M | ||
| Q2 24 | $102.5M | $28.4M | ||
| Q1 24 | $13.8M | $32.1M |
自由现金流HLFRDDT
| Q4 25 | $79.8M | $263.6M | ||
| Q3 25 | $118.0M | $183.1M | ||
| Q2 25 | $73.2M | $110.8M | ||
| Q1 25 | $-18.1M | $126.6M | ||
| Q4 24 | $43.9M | $89.2M | ||
| Q3 24 | $72.4M | $70.3M | ||
| Q2 24 | $66.2M | $27.2M | ||
| Q1 24 | $-19.1M | $29.2M |
自由现金流率HLFRDDT
| Q4 25 | 6.2% | 36.3% | ||
| Q3 25 | 9.3% | 31.3% | ||
| Q2 25 | 5.8% | 22.2% | ||
| Q1 25 | -1.5% | 32.3% | ||
| Q4 24 | 3.6% | 20.8% | ||
| Q3 24 | 5.8% | 20.2% | ||
| Q2 24 | 5.2% | 9.7% | ||
| Q1 24 | -1.5% | 12.0% |
资本支出强度HLFRDDT
| Q4 25 | 1.4% | 0.4% | ||
| Q3 25 | 1.6% | 0.4% | ||
| Q2 25 | 1.8% | 0.1% | ||
| Q1 25 | 1.5% | 0.2% | ||
| Q4 24 | 2.1% | 0.2% | ||
| Q3 24 | 2.2% | 0.4% | ||
| Q2 24 | 2.8% | 0.4% | ||
| Q1 24 | 2.6% | 1.2% |
现金转化率HLFRDDT
| Q4 25 | 1.15× | 1.06× | ||
| Q3 25 | 3.21× | 1.14× | ||
| Q2 25 | 1.95× | 1.25× | ||
| Q1 25 | 0.00× | 4.88× | ||
| Q4 24 | 0.39× | 1.27× | ||
| Q3 24 | 2.10× | 2.40× | ||
| Q2 24 | 21.81× | — | ||
| Q1 24 | 0.57× | — |
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% |
RDDT
| Advertising | $689.7M | 95% |
| Other Revenue | $35.9M | 5% |
