vs
康宝莱（HLF）与RXO, Inc.（RXO）财务数据对比。点击上方公司名可切换其他公司
RXO, Inc.的季度营收约是康宝莱的1.1倍（$1.5B vs $1.3B），康宝莱净利率更高（6.7% vs -3.1%，领先9.8%），康宝莱同比增速更快（6.3% vs -11.9%），康宝莱自由现金流更多（$79.8M vs $-9.0M），过去两年RXO, Inc.的营收复合增速更高（26.8% 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。
RXO是总部位于美国的头部运输及物流解决方案供应商，核心业务覆盖货运经纪、大件商品最后一公里配送、运输管理服务与全链路供应链优化支持，主要服务北美制造业、零售业及电商领域的客户。
HLF vs RXO — 直观对比
营收规模更大
RXO
是对方的1.1倍
$1.3B
营收增速更快
HLF
高出18.1%
-11.9%
净利率更高
HLF
高出9.8%
-3.1%
自由现金流更多
HLF
多$88.8M
$-9.0M
两年增速更快
RXO
近两年复合增速
0.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.5B |
| 净利润 | $85.4M | $-46.0M |
| 毛利率 | 77.5% | — |
| 营业利润率 | 7.8% | -2.9% |
| 净利率 | 6.7% | -3.1% |
| 营收同比 | 6.3% | -11.9% |
| 净利润同比 | -52.0% | -84.0% |
| 每股收益（稀释后） | $0.81 | $-0.28 |
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HLFRXO
| Q4 25 | $1.3B | $1.5B | ||
| Q3 25 | $1.3B | $1.4B | ||
| Q2 25 | $1.3B | $1.4B | ||
| Q1 25 | $1.2B | $1.4B | ||
| Q4 24 | $1.2B | $1.7B | ||
| Q3 24 | $1.2B | $1.0B | ||
| Q2 24 | $1.3B | $930.0M | ||
| Q1 24 | $1.3B | $913.0M |
净利润HLFRXO
| Q4 25 | $85.4M | $-46.0M | ||
| Q3 25 | $43.2M | $-14.0M | ||
| Q2 25 | $49.3M | $-9.0M | ||
| Q1 25 | $50.4M | $-31.0M | ||
| Q4 24 | $177.9M | $-25.0M | ||
| Q3 24 | $47.4M | $-243.0M | ||
| Q2 24 | $4.7M | $-7.0M | ||
| Q1 24 | $24.3M | $-15.0M |
毛利率HLFRXO
| 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HLFRXO
| Q4 25 | 7.8% | -2.9% | ||
| Q3 25 | 9.9% | -0.5% | ||
| Q2 25 | 10.5% | — | ||
| Q1 25 | 10.1% | -2.1% | ||
| Q4 24 | 8.8% | -1.4% | ||
| Q3 24 | 10.2% | -1.9% | ||
| Q2 24 | 6.3% | — | ||
| Q1 24 | 5.7% | -1.3% |
净利率HLFRXO
| Q4 25 | 6.7% | -3.1% | ||
| Q3 25 | 3.4% | -1.0% | ||
| Q2 25 | 3.9% | -0.6% | ||
| Q1 25 | 4.1% | -2.2% | ||
| Q4 24 | 14.7% | -1.5% | ||
| Q3 24 | 3.8% | -23.4% | ||
| Q2 24 | 0.4% | -0.8% | ||
| Q1 24 | 1.9% | -1.6% |
每股收益（稀释后）HLFRXO
| Q4 25 | $0.81 | $-0.28 | ||
| Q3 25 | $0.42 | $-0.08 | ||
| Q2 25 | $0.48 | $-0.05 | ||
| Q1 25 | $0.49 | $-0.18 | ||
| Q4 24 | $1.75 | $-0.17 | ||
| Q3 24 | $0.46 | $-1.81 | ||
| Q2 24 | $0.05 | $-0.06 | ||
| Q1 24 | $0.24 | $-0.13 |
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 | $17.0M |
| 总债务越低越好 | $2.0B | $387.0M |
| 股东权益账面价值 | $-515.1M | $1.5B |
| 总资产 | $2.8B | $3.3B |
| 负债/权益比越低杠杆越低 | — | 0.25× |
8季度趋势，按日历期对齐
现金及短期投资HLFRXO
| Q4 25 | $353.1M | $17.0M | ||
| Q3 25 | $305.5M | $25.0M | ||
| Q2 25 | $320.9M | $18.0M | ||
| Q1 25 | $329.4M | $16.0M | ||
| Q4 24 | $415.3M | $35.0M | ||
| Q3 24 | $402.5M | $55.0M | ||
| Q2 24 | $374.0M | $7.0M | ||
| Q1 24 | $398.3M | $7.0M |
总债务HLFRXO
| Q4 25 | $2.0B | $387.0M | ||
| Q3 25 | $2.0B | $387.0M | ||
| Q2 25 | $2.1B | $387.0M | ||
| Q1 25 | $2.2B | $387.0M | ||
| Q4 24 | $2.3B | $351.0M | ||
| Q3 24 | $2.3B | $352.0M | ||
| Q2 24 | $2.3B | $370.0M | ||
| Q1 24 | $2.4B | $351.0M |
股东权益HLFRXO
| Q4 25 | $-515.1M | $1.5B | ||
| Q3 25 | $-612.0M | $1.6B | ||
| Q2 25 | $-660.5M | $1.6B | ||
| Q1 25 | $-736.0M | $1.6B | ||
| Q4 24 | $-801.1M | $1.6B | ||
| Q3 24 | $-954.2M | $1.7B | ||
| Q2 24 | $-1.0B | $579.0M | ||
| Q1 24 | $-1.0B | $582.0M |
总资产HLFRXO
| Q4 25 | $2.8B | $3.3B | ||
| Q3 25 | $2.7B | $3.2B | ||
| Q2 25 | $2.7B | $3.2B | ||
| Q1 25 | $2.7B | $3.3B | ||
| Q4 24 | $2.7B | $3.4B | ||
| Q3 24 | $2.7B | $3.4B | ||
| Q2 24 | $2.6B | $1.8B | ||
| Q1 24 | $2.6B | $1.8B |
负债/权益比HLFRXO
| Q4 25 | — | 0.25× | ||
| Q3 25 | — | 0.24× | ||
| Q2 25 | — | 0.24× | ||
| Q1 25 | — | 0.24× | ||
| Q4 24 | — | 0.22× | ||
| Q3 24 | — | 0.21× | ||
| Q2 24 | — | 0.64× | ||
| Q1 24 | — | 0.60× |
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 | $7.0M |
| 自由现金流经营现金流 - 资本支出 | $79.8M | $-9.0M |
| 自由现金流率自由现金流/营收 | 6.2% | -0.6% |
| 资本支出强度资本支出/营收 | 1.4% | 1.1% |
| 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 | $-8.0M |
8季度趋势，按日历期对齐
经营现金流HLFRXO
| Q4 25 | $98.3M | $7.0M | ||
| Q3 25 | $138.8M | $23.0M | ||
| Q2 25 | $96.0M | $23.0M | ||
| Q1 25 | $200.0K | $-2.0M | ||
| Q4 24 | $69.6M | $-7.0M | ||
| Q3 24 | $99.5M | $-7.0M | ||
| Q2 24 | $102.5M | $-5.0M | ||
| Q1 24 | $13.8M | $7.0M |
自由现金流HLFRXO
| Q4 25 | $79.8M | $-9.0M | ||
| Q3 25 | $118.0M | $9.0M | ||
| Q2 25 | $73.2M | $9.0M | ||
| Q1 25 | $-18.1M | $-17.0M | ||
| Q4 24 | $43.9M | $-19.0M | ||
| Q3 24 | $72.4M | $-18.0M | ||
| Q2 24 | $66.2M | $-16.0M | ||
| Q1 24 | $-19.1M | $-4.0M |
自由现金流率HLFRXO
| Q4 25 | 6.2% | -0.6% | ||
| Q3 25 | 9.3% | 0.6% | ||
| Q2 25 | 5.8% | 0.6% | ||
| Q1 25 | -1.5% | -1.2% | ||
| Q4 24 | 3.6% | -1.1% | ||
| Q3 24 | 5.8% | -1.7% | ||
| Q2 24 | 5.2% | -1.7% | ||
| Q1 24 | -1.5% | -0.4% |
资本支出强度HLFRXO
| Q4 25 | 1.4% | 1.1% | ||
| Q3 25 | 1.6% | 1.0% | ||
| Q2 25 | 1.8% | 1.0% | ||
| Q1 25 | 1.5% | 1.0% | ||
| Q4 24 | 2.1% | 0.7% | ||
| Q3 24 | 2.2% | 1.1% | ||
| Q2 24 | 2.8% | 1.2% | ||
| Q1 24 | 2.6% | 1.2% |
现金转化率HLFRXO
| 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% |
RXO
| Retail Sector | $546.0M | 37% |
| Last Mile | $298.0M | 20% |
| Food And Beverage Sector | $225.0M | 15% |
| Other Sector | $185.0M | 13% |
| Managed Transportation | $133.0M | 9% |
| Automotive Sector | $93.0M | 6% |
