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康宝莱（HLF）与Rivian Automotive, Inc.（RIVN）财务数据对比。点击上方公司名可切换其他公司
Rivian Automotive, Inc.的季度营收约是康宝莱的1.0倍（$1.3B vs $1.3B），康宝莱净利率更高（6.7% vs -63.1%，领先69.7%），康宝莱同比增速更快（6.3% vs -25.8%），康宝莱自由现金流更多（$79.8M vs $-1.1B），过去两年Rivian Automotive, Inc.的营收复合增速更高（3.3% 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。
Rivian Automotive是2009年成立的美国电动汽车制造商及汽车科技企业，主打基于自研滑板平台打造的电动SUV、皮卡及EDV电动配送货车，旗下R1T皮卡于2021年末正式开启交付，还计划于2023年底前在美国和加拿大布局专属充电网络，其平台可适配新车型也可对外授权使用。
HLF vs RIVN — 直观对比
营收规模更大
RIVN
是对方的1.0倍
$1.3B
营收增速更快
HLF
高出32.1%
-25.8%
净利率更高
HLF
高出69.7%
-63.1%
自由现金流更多
HLF
多$1.2B
$-1.1B
两年增速更快
RIVN
近两年复合增速
0.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.3B |
| 净利润 | $85.4M | $-811.0M |
| 毛利率 | 77.5% | 9.3% |
| 营业利润率 | 7.8% | -64.8% |
| 净利率 | 6.7% | -63.1% |
| 营收同比 | 6.3% | -25.8% |
| 净利润同比 | -52.0% | -9.0% |
| 每股收益（稀释后） | $0.81 | $-0.66 |
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HLFRIVN
| Q4 25 | $1.3B | $1.3B | ||
| Q3 25 | $1.3B | $1.6B | ||
| Q2 25 | $1.3B | $1.3B | ||
| Q1 25 | $1.2B | $1.2B | ||
| Q4 24 | $1.2B | $1.7B | ||
| Q3 24 | $1.2B | $874.0M | ||
| Q2 24 | $1.3B | $1.2B | ||
| Q1 24 | $1.3B | $1.2B |
净利润HLFRIVN
| Q4 25 | $85.4M | $-811.0M | ||
| Q3 25 | $43.2M | $-1.2B | ||
| Q2 25 | $49.3M | $-1.1B | ||
| Q1 25 | $50.4M | $-545.0M | ||
| Q4 24 | $177.9M | $-744.0M | ||
| Q3 24 | $47.4M | $-1.1B | ||
| Q2 24 | $4.7M | $-1.5B | ||
| Q1 24 | $24.3M | $-1.4B |
毛利率HLFRIVN
| Q4 25 | 77.5% | 9.3% | ||
| Q3 25 | 77.7% | 1.5% | ||
| Q2 25 | 78.0% | -15.8% | ||
| Q1 25 | 78.3% | 16.6% | ||
| Q4 24 | 77.8% | 9.8% | ||
| Q3 24 | 78.3% | -44.9% | ||
| Q2 24 | 77.9% | -38.9% | ||
| Q1 24 | 77.5% | -43.8% |
营业利润率HLFRIVN
| Q4 25 | 7.8% | -64.8% | ||
| Q3 25 | 9.9% | -63.1% | ||
| Q2 25 | 10.5% | -85.5% | ||
| Q1 25 | 10.1% | -52.8% | ||
| Q4 24 | 8.8% | -38.1% | ||
| Q3 24 | 10.2% | -133.8% | ||
| Q2 24 | 6.3% | -118.7% | ||
| Q1 24 | 5.7% | -123.3% |
净利率HLFRIVN
| Q4 25 | 6.7% | -63.1% | ||
| Q3 25 | 3.4% | -75.3% | ||
| Q2 25 | 3.9% | -85.7% | ||
| Q1 25 | 4.1% | -44.0% | ||
| Q4 24 | 14.7% | -42.9% | ||
| Q3 24 | 3.8% | -125.9% | ||
| Q2 24 | 0.4% | -125.8% | ||
| Q1 24 | 1.9% | -120.1% |
每股收益（稀释后）HLFRIVN
| Q4 25 | $0.81 | $-0.66 | ||
| Q3 25 | $0.42 | $-0.96 | ||
| Q2 25 | $0.48 | $-0.97 | ||
| Q1 25 | $0.49 | $-0.48 | ||
| Q4 24 | $1.75 | $-0.67 | ||
| Q3 24 | $0.46 | $-1.08 | ||
| Q2 24 | $0.05 | $-1.46 | ||
| Q1 24 | $0.24 | $-1.48 |
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 | $6.1B |
| 总债务越低越好 | $2.0B | — |
| 股东权益账面价值 | $-515.1M | $4.6B |
| 总资产 | $2.8B | $14.9B |
| 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HLFRIVN
| Q4 25 | $353.1M | $6.1B | ||
| Q3 25 | $305.5M | $7.1B | ||
| Q2 25 | $320.9M | $7.5B | ||
| Q1 25 | $329.4M | $7.2B | ||
| Q4 24 | $415.3M | $7.7B | ||
| Q3 24 | $402.5M | $6.7B | ||
| Q2 24 | $374.0M | $7.9B | ||
| Q1 24 | $398.3M | $7.9B |
总债务HLFRIVN
| 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 | $5.5B | ||
| Q1 24 | $2.4B | $4.4B |
股东权益HLFRIVN
| Q4 25 | $-515.1M | $4.6B | ||
| Q3 25 | $-612.0M | $5.1B | ||
| Q2 25 | $-660.5M | $6.1B | ||
| Q1 25 | $-736.0M | $6.2B | ||
| Q4 24 | $-801.1M | $6.6B | ||
| Q3 24 | $-954.2M | $5.9B | ||
| Q2 24 | $-1.0B | $6.8B | ||
| Q1 24 | $-1.0B | $8.1B |
总资产HLFRIVN
| Q4 25 | $2.8B | $14.9B | ||
| Q3 25 | $2.7B | $15.2B | ||
| Q2 25 | $2.7B | $15.6B | ||
| Q1 25 | $2.7B | $15.5B | ||
| Q4 24 | $2.7B | $15.4B | ||
| Q3 24 | $2.7B | $14.3B | ||
| Q2 24 | $2.6B | $15.4B | ||
| Q1 24 | $2.6B | $15.7B |
负债/权益比HLFRIVN
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.81× | ||
| Q1 24 | — | 0.55× |
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 | $-681.0M |
| 自由现金流经营现金流 - 资本支出 | $79.8M | $-1.1B |
| 自由现金流率自由现金流/营收 | 6.2% | -89.0% |
| 资本支出强度资本支出/营收 | 1.4% | 36.0% |
| 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 | $-2.5B |
8季度趋势，按日历期对齐
经营现金流HLFRIVN
| Q4 25 | $98.3M | $-681.0M | ||
| Q3 25 | $138.8M | $26.0M | ||
| Q2 25 | $96.0M | $64.0M | ||
| Q1 25 | $200.0K | $-188.0M | ||
| Q4 24 | $69.6M | $1.2B | ||
| Q3 24 | $99.5M | $-876.0M | ||
| Q2 24 | $102.5M | $-754.0M | ||
| Q1 24 | $13.8M | $-1.3B |
自由现金流HLFRIVN
| Q4 25 | $79.8M | $-1.1B | ||
| Q3 25 | $118.0M | $-421.0M | ||
| Q2 25 | $73.2M | $-398.0M | ||
| Q1 25 | $-18.1M | $-526.0M | ||
| Q4 24 | $43.9M | $856.0M | ||
| Q3 24 | $72.4M | $-1.2B | ||
| Q2 24 | $66.2M | $-1.0B | ||
| Q1 24 | $-19.1M | $-1.5B |
自由现金流率HLFRIVN
| Q4 25 | 6.2% | -89.0% | ||
| Q3 25 | 9.3% | -27.0% | ||
| Q2 25 | 5.8% | -30.5% | ||
| Q1 25 | -1.5% | -42.4% | ||
| Q4 24 | 3.6% | 49.4% | ||
| Q3 24 | 5.8% | -131.9% | ||
| Q2 24 | 5.2% | -89.6% | ||
| Q1 24 | -1.5% | -126.5% |
资本支出强度HLFRIVN
| Q4 25 | 1.4% | 36.0% | ||
| Q3 25 | 1.6% | 28.7% | ||
| Q2 25 | 1.8% | 35.5% | ||
| Q1 25 | 1.5% | 27.3% | ||
| Q4 24 | 2.1% | 18.9% | ||
| Q3 24 | 2.2% | 31.7% | ||
| Q2 24 | 2.8% | 24.4% | ||
| Q1 24 | 2.6% | 21.1% |
现金转化率HLFRIVN
| Q4 25 | 1.15× | — | ||
| Q3 25 | 3.21× | — | ||
| Q2 25 | 1.95× | — | ||
| Q1 25 | 0.00× | — | ||
| Q4 24 | 0.39× | — | ||
| Q3 24 | 2.10× | — | ||
| 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% |
RIVN
| Automotive Segment | $839.0M | 65% |
| Software And Services Segment | $447.0M | 35% |
| Regulatory Credits | $30.0M | 2% |
