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HORACE MANN EDUCATORS CORP（HMN）与Sabre Corp（SABR）财务数据对比。点击上方公司名可切换其他公司
Sabre Corp的季度营收约是HORACE MANN EDUCATORS CORP的1.4倍（$592.0M vs $434.8M），HORACE MANN EDUCATORS CORP同比增速更快（6.3% vs 2.9%），过去两年HORACE MANN EDUCATORS CORP的营收复合增速更高（6.1% vs -13.0%）
贺拉斯曼是一家总部位于美国伊利诺伊州的金融服务企业，主营汽车保险、财产保险、补充保险与人寿保险业务，同时提供退休年金、共同基金等金融产品，核心服务群体为教育工作者及其家庭。
Sabre Corporation是总部位于美国得克萨斯州南湖的旅游科技公司，也是全球最大的航空预订全球分销系统（GDS）服务商。其核心产品Sabre全球分销系统作为中立中介，连接航司、酒店等旅游供应商与旅行社等旅游销售方，提供实时库存与价格信息，是企业差旅管理领域的重要服务商。
HMN vs SABR — 直观对比
营收规模更大
SABR
是对方的1.4倍
$434.8M
营收增速更快
HMN
高出3.5%
2.9%
两年增速更快
HMN
近两年复合增速
-13.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $434.8M | $592.0M |
| 净利润 | — | $-103.5M |
| 毛利率 | — | 55.4% |
| 营业利润率 | 10.5% | 1.6% |
| 净利率 | — | -17.5% |
| 营收同比 | 6.3% | 2.9% |
| 净利润同比 | — | -38.6% |
| 每股收益（稀释后） | $0.87 | $-0.08 |
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HMNSABR
| Q4 25 | $434.8M | $592.0M | ||
| Q3 25 | $438.5M | $715.2M | ||
| Q2 25 | $411.7M | $687.1M | ||
| Q1 25 | $416.4M | $776.6M | ||
| Q4 24 | $409.0M | $575.6M | ||
| Q3 24 | $412.1M | $691.3M | ||
| Q2 24 | $388.1M | $695.0M | ||
| Q1 24 | $386.0M | $782.9M |
净利润HMNSABR
| Q4 25 | — | $-103.5M | ||
| Q3 25 | $58.3M | $848.5M | ||
| Q2 25 | $29.4M | $-256.5M | ||
| Q1 25 | $38.2M | $35.5M | ||
| Q4 24 | — | $-74.7M | ||
| Q3 24 | $34.3M | $-62.8M | ||
| Q2 24 | $3.8M | $-69.8M | ||
| Q1 24 | $26.5M | $-71.5M |
毛利率HMNSABR
| Q4 25 | — | 55.4% | ||
| Q3 25 | — | 56.2% | ||
| Q2 25 | — | 56.9% | ||
| Q1 25 | — | 57.0% | ||
| Q4 24 | — | 58.8% | ||
| Q3 24 | — | 57.4% | ||
| Q2 24 | — | 57.8% | ||
| Q1 24 | — | 59.0% |
营业利润率HMNSABR
| Q4 25 | 10.5% | 1.6% | ||
| Q3 25 | 16.3% | 13.1% | ||
| Q2 25 | 8.9% | 13.0% | ||
| Q1 25 | 11.4% | 13.3% | ||
| Q4 24 | 11.8% | 6.5% | ||
| Q3 24 | 10.4% | 8.4% | ||
| Q2 24 | 1.2% | 7.0% | ||
| Q1 24 | 8.5% | 12.5% |
净利率HMNSABR
| Q4 25 | — | -17.5% | ||
| Q3 25 | 13.3% | 118.6% | ||
| Q2 25 | 7.1% | -37.3% | ||
| Q1 25 | 9.2% | 4.6% | ||
| Q4 24 | — | -13.0% | ||
| Q3 24 | 8.3% | -9.1% | ||
| Q2 24 | 1.0% | -10.0% | ||
| Q1 24 | 6.9% | -9.1% |
每股收益（稀释后）HMNSABR
| Q4 25 | $0.87 | $-0.08 | ||
| Q3 25 | $1.40 | $1.98 | ||
| Q2 25 | $0.71 | $-0.65 | ||
| Q1 25 | $0.92 | $0.09 | ||
| Q4 24 | $0.92 | $-0.20 | ||
| Q3 24 | $0.83 | $-0.16 | ||
| Q2 24 | $0.09 | $-0.18 | ||
| Q1 24 | $0.64 | $-0.19 |
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 | $27.5M | $791.6M |
| 总债务越低越好 | $593.4M | $4.3B |
| 股东权益账面价值 | $1.5B | $-1.0B |
| 总资产 | $15.3B | $4.5B |
| 负债/权益比越低杠杆越低 | 0.40× | — |
8季度趋势，按日历期对齐
现金及短期投资HMNSABR
| Q4 25 | $27.5M | $791.6M | ||
| Q3 25 | $46.7M | $661.7M | ||
| Q2 25 | — | $426.1M | ||
| Q1 25 | — | $651.1M | ||
| Q4 24 | $38.1M | $724.5M | ||
| Q3 24 | — | $668.8M | ||
| Q2 24 | — | $612.6M | ||
| Q1 24 | — | $629.1M |
总债务HMNSABR
| Q4 25 | $593.4M | $4.3B | ||
| Q3 25 | $842.9M | $4.2B | ||
| Q2 25 | $547.5M | $5.1B | ||
| Q1 25 | $547.2M | $5.0B | ||
| Q4 24 | $547.0M | $5.0B | ||
| Q3 24 | $546.7M | $4.9B | ||
| Q2 24 | $546.5M | $4.9B | ||
| Q1 24 | $546.2M | $5.1B |
股东权益HMNSABR
| Q4 25 | $1.5B | $-1.0B | ||
| Q3 25 | $1.4B | $-950.8M | ||
| Q2 25 | $1.4B | $-1.8B | ||
| Q1 25 | $1.3B | $-1.6B | ||
| Q4 24 | $1.3B | $-1.6B | ||
| Q3 24 | $1.3B | $-1.5B | ||
| Q2 24 | $1.2B | $-1.5B | ||
| Q1 24 | $1.2B | $-1.4B |
总资产HMNSABR
| Q4 25 | $15.3B | $4.5B | ||
| Q3 25 | $15.5B | $4.4B | ||
| Q2 25 | $14.7B | $4.4B | ||
| Q1 25 | $14.4B | $4.7B | ||
| Q4 24 | $14.5B | $4.6B | ||
| Q3 24 | $14.7B | $4.7B | ||
| Q2 24 | $14.3B | $4.7B | ||
| Q1 24 | $14.2B | $4.7B |
负债/权益比HMNSABR
| Q4 25 | 0.40× | — | ||
| Q3 25 | 0.58× | — | ||
| Q2 25 | 0.40× | — | ||
| Q1 25 | 0.41× | — | ||
| Q4 24 | 0.42× | — | ||
| Q3 24 | 0.42× | — | ||
| Q2 24 | 0.45× | — | ||
| Q1 24 | 0.45× | — |
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 | $553.2M | — |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | 4.0% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流HMNSABR
| Q4 25 | $553.2M | — | ||
| Q3 25 | $151.2M | $33.7M | ||
| Q2 25 | $131.3M | — | ||
| Q1 25 | $140.8M | $-80.6M | ||
| Q4 24 | $452.1M | $75.7M | ||
| Q3 24 | $143.9M | $24.4M | ||
| Q2 24 | $40.2M | $38.2M | ||
| Q1 24 | $74.5M | $-68.1M |
自由现金流HMNSABR
| Q4 25 | — | — | ||
| Q3 25 | — | $13.4M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $-98.5M | ||
| Q4 24 | — | $61.0M | ||
| Q3 24 | — | $5.1M | ||
| Q2 24 | — | $20.4M | ||
| Q1 24 | — | $-95.8M |
自由现金流率HMNSABR
| Q4 25 | — | — | ||
| Q3 25 | — | 1.9% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -12.7% | ||
| Q4 24 | — | 10.6% | ||
| Q3 24 | — | 0.7% | ||
| Q2 24 | — | 2.9% | ||
| Q1 24 | — | -12.2% |
资本支出强度HMNSABR
| Q4 25 | — | 4.0% | ||
| Q3 25 | — | 2.8% | ||
| Q2 25 | — | 3.1% | ||
| Q1 25 | — | 2.3% | ||
| Q4 24 | — | 2.6% | ||
| Q3 24 | — | 2.8% | ||
| Q2 24 | — | 2.6% | ||
| Q1 24 | — | 3.5% |
现金转化率HMNSABR
| Q4 25 | — | — | ||
| Q3 25 | 2.59× | 0.04× | ||
| Q2 25 | 4.47× | — | ||
| Q1 25 | 3.69× | -2.27× | ||
| Q4 24 | — | — | ||
| Q3 24 | 4.20× | — | ||
| Q2 24 | 10.58× | — | ||
| Q1 24 | 2.81× | — |
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
HMN
| Property And Casualty | $224.3M | 52% |
| Life And Retirement | $139.6M | 32% |
| Supplemental And Group Benefits | $77.0M | 18% |
SABR
| Distribution | $526.8M | 89% |
| Other | $65.2M | 11% |
