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HNI CORP（HNI）与Idexx Laboratories（IDXX）财务数据对比。点击上方公司名可切换其他公司
Idexx Laboratories的季度营收约是HNI CORP的1.6倍（$1.1B vs $683.8M），Idexx Laboratories净利率更高（22.8% vs 6.0%，领先16.7%），Idexx Laboratories同比增速更快（14.3% vs 1.7%），Idexx Laboratories自由现金流更多（$326.3M vs $135.6M），过去两年Idexx Laboratories的营收复合增速更高（6.4% vs 0.3%）
HNI公司是全球营收规模领先的办公家具制造商之一，同时也是全球壁炉产品行业的头部企业，生产销售燃气、电、燃木及生物质燃料壁炉、嵌入式炉具、取暖炉、饰面及相关配件。公司1944年由工程师C.麦克斯韦·斯坦利等三人联合创立，总部位于美国爱荷华州马斯卡廷。
IDEXX Laboratories是1983年成立的美国跨国企业，主营伴侣动物诊疗、畜禽养殖、水质检测、乳制品领域相关产品与服务的研发、生产及分销，总部位于缅因州韦斯特布鲁克，欧洲、中东及非洲地区分部设于荷兰霍夫多普。
HNI vs IDXX — 直观对比
营收规模更大
IDXX
是对方的1.6倍
$683.8M
营收增速更快
IDXX
高出12.6%
1.7%
净利率更高
IDXX
高出16.7%
6.0%
自由现金流更多
IDXX
多$190.7M
$135.6M
两年增速更快
IDXX
近两年复合增速
0.3%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $683.8M | $1.1B |
| 净利润 | $41.2M | $248.2M |
| 毛利率 | 42.1% | 60.3% |
| 营业利润率 | 9.4% | 28.9% |
| 净利率 | 6.0% | 22.8% |
| 营收同比 | 1.7% | 14.3% |
| 净利润同比 | -13.3% | 14.8% |
| 每股收益（稀释后） | $0.88 | $3.09 |
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HNIIDXX
| Q4 25 | — | $1.1B | ||
| Q3 25 | $683.8M | $1.1B | ||
| Q2 25 | $667.1M | $1.1B | ||
| Q1 25 | $599.8M | $998.4M | ||
| Q4 24 | $642.5M | $954.3M | ||
| Q3 24 | $672.2M | $975.5M | ||
| Q2 24 | $623.7M | $1.0B | ||
| Q1 24 | $588.0M | $964.1M |
净利润HNIIDXX
| Q4 25 | — | $248.2M | ||
| Q3 25 | $41.2M | $274.6M | ||
| Q2 25 | $48.2M | $294.0M | ||
| Q1 25 | $13.9M | $242.7M | ||
| Q4 24 | $38.3M | $216.1M | ||
| Q3 24 | $47.5M | $232.8M | ||
| Q2 24 | $36.0M | $203.3M | ||
| Q1 24 | $17.7M | $235.6M |
毛利率HNIIDXX
| Q4 25 | — | 60.3% | ||
| Q3 25 | 42.1% | 61.8% | ||
| Q2 25 | 42.9% | 62.6% | ||
| Q1 25 | 39.7% | 62.4% | ||
| Q4 24 | 40.5% | 59.8% | ||
| Q3 24 | 41.5% | 61.1% | ||
| Q2 24 | 41.9% | 61.7% | ||
| Q1 24 | 39.6% | 61.5% |
营业利润率HNIIDXX
| Q4 25 | — | 28.9% | ||
| Q3 25 | 9.4% | 32.1% | ||
| Q2 25 | 10.2% | 33.6% | ||
| Q1 25 | 4.1% | 31.7% | ||
| Q4 24 | 8.5% | 27.4% | ||
| Q3 24 | 10.2% | 31.2% | ||
| Q2 24 | 8.6% | 26.3% | ||
| Q1 24 | 5.1% | 31.0% |
净利率HNIIDXX
| Q4 25 | — | 22.8% | ||
| Q3 25 | 6.0% | 24.8% | ||
| Q2 25 | 7.2% | 26.5% | ||
| Q1 25 | 2.3% | 24.3% | ||
| Q4 24 | 6.0% | 22.7% | ||
| Q3 24 | 7.1% | 23.9% | ||
| Q2 24 | 5.8% | 20.3% | ||
| Q1 24 | 3.0% | 24.4% |
每股收益（稀释后）HNIIDXX
| Q4 25 | — | $3.09 | ||
| Q3 25 | $0.88 | $3.40 | ||
| Q2 25 | $1.02 | $3.63 | ||
| Q1 25 | $0.29 | $2.96 | ||
| Q4 24 | $0.78 | $2.62 | ||
| Q3 24 | $0.98 | $2.80 | ||
| Q2 24 | $0.75 | $2.44 | ||
| Q1 24 | $0.37 | $2.81 |
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 | $28.1M | $180.1M |
| 总债务越低越好 | $324.2M | $450.0M |
| 股东权益账面价值 | $835.9M | $1.6B |
| 总资产 | $1.8B | $3.4B |
| 负债/权益比越低杠杆越低 | 0.39× | 0.28× |
8季度趋势，按日历期对齐
现金及短期投资HNIIDXX
| Q4 25 | — | $180.1M | ||
| Q3 25 | $28.1M | $208.2M | ||
| Q2 25 | $38.2M | $164.6M | ||
| Q1 25 | $27.5M | $164.0M | ||
| Q4 24 | $28.9M | $288.3M | ||
| Q3 24 | $40.2M | $308.6M | ||
| Q2 24 | $33.5M | $401.6M | ||
| Q1 24 | $32.5M | $397.4M |
总债务HNIIDXX
| Q4 25 | — | $450.0M | ||
| Q3 25 | $324.2M | — | ||
| Q2 25 | $444.4M | — | ||
| Q1 25 | $404.7M | — | ||
| Q4 24 | $344.6M | $617.8M | ||
| Q3 24 | $345.4M | — | ||
| Q2 24 | $462.3M | — | ||
| Q1 24 | $473.0M | — |
股东权益HNIIDXX
| Q4 25 | — | $1.6B | ||
| Q3 25 | $835.9M | $1.6B | ||
| Q2 25 | $811.0M | $1.5B | ||
| Q1 25 | $803.6M | $1.4B | ||
| Q4 24 | $840.1M | $1.6B | ||
| Q3 24 | $846.6M | $1.6B | ||
| Q2 24 | $787.8M | $1.6B | ||
| Q1 24 | $771.5M | $1.6B |
总资产HNIIDXX
| Q4 25 | — | $3.4B | ||
| Q3 25 | $1.8B | $3.4B | ||
| Q2 25 | $1.9B | $3.3B | ||
| Q1 25 | $1.9B | $3.2B | ||
| Q4 24 | $1.9B | $3.3B | ||
| Q3 24 | $1.9B | $3.4B | ||
| Q2 24 | $1.9B | $3.4B | ||
| Q1 24 | $1.9B | $3.4B |
负债/权益比HNIIDXX
| Q4 25 | — | 0.28× | ||
| Q3 25 | 0.39× | — | ||
| Q2 25 | 0.55× | — | ||
| Q1 25 | 0.50× | — | ||
| Q4 24 | 0.41× | 0.39× | ||
| Q3 24 | 0.41× | — | ||
| Q2 24 | 0.59× | — | ||
| Q1 24 | 0.61× | — |
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 | $155.2M | $355.8M |
| 自由现金流经营现金流 - 资本支出 | $135.6M | $326.3M |
| 自由现金流率自由现金流/营收 | 19.8% | 29.9% |
| 资本支出强度资本支出/营收 | 2.9% | 2.7% |
| 现金转化率经营现金流/净利润 | 3.77× | 1.43× |
| 过去12个月自由现金流最近4个季度 | $189.5M | $1.1B |
8季度趋势，按日历期对齐
经营现金流HNIIDXX
| Q4 25 | — | $355.8M | ||
| Q3 25 | $155.2M | $402.3M | ||
| Q2 25 | $31.1M | $185.7M | ||
| Q1 25 | $12.6M | $238.0M | ||
| Q4 24 | $51.2M | $262.0M | ||
| Q3 24 | $128.5M | $220.1M | ||
| Q2 24 | $51.3M | $248.3M | ||
| Q1 24 | $-4.3M | $198.6M |
自由现金流HNIIDXX
| Q4 25 | — | $326.3M | ||
| Q3 25 | $135.6M | $371.2M | ||
| Q2 25 | $16.1M | $151.6M | ||
| Q1 25 | $-3.7M | $207.9M | ||
| Q4 24 | $41.5M | $232.8M | ||
| Q3 24 | $114.0M | $192.0M | ||
| Q2 24 | $33.8M | $215.0M | ||
| Q1 24 | $-15.5M | $168.3M |
自由现金流率HNIIDXX
| Q4 25 | — | 29.9% | ||
| Q3 25 | 19.8% | 33.6% | ||
| Q2 25 | 2.4% | 13.7% | ||
| Q1 25 | -0.6% | 20.8% | ||
| Q4 24 | 6.5% | 24.4% | ||
| Q3 24 | 17.0% | 19.7% | ||
| Q2 24 | 5.4% | 21.4% | ||
| Q1 24 | -2.6% | 17.5% |
资本支出强度HNIIDXX
| Q4 25 | — | 2.7% | ||
| Q3 25 | 2.9% | 2.8% | ||
| Q2 25 | 2.2% | 3.1% | ||
| Q1 25 | 2.7% | 3.0% | ||
| Q4 24 | 1.5% | 3.1% | ||
| Q3 24 | 2.2% | 2.9% | ||
| Q2 24 | 2.8% | 3.3% | ||
| Q1 24 | 1.9% | 3.1% |
现金转化率HNIIDXX
| Q4 25 | — | 1.43× | ||
| Q3 25 | 3.77× | 1.47× | ||
| Q2 25 | 0.65× | 0.63× | ||
| Q1 25 | 0.91× | 0.98× | ||
| Q4 24 | 1.34× | 1.21× | ||
| Q3 24 | 2.71× | 0.95× | ||
| Q2 24 | 1.43× | 1.22× | ||
| Q1 24 | -0.24× | 0.84× |
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
HNI
| Systems Storage And Table | $309.9M | 45% |
| Residential Building Products | $166.9M | 24% |
| Seating Products | $161.1M | 24% |
| Other Products | $45.9M | 7% |
IDXX
| Vet Lab Consumables | $389.0M | 36% |
| Reference Laboratory Diagnostic And Consulting Services | $349.2M | 32% |
| Rapid Assay Products | $76.0M | 7% |
| Recurring Revenue | $70.6M | 6% |
| CAG Diagnostic Capital Instruments | $58.1M | 5% |
| Water Segment | $50.5M | 5% |
| Livestock And Poultry Diagnostics Segment | $37.5M | 3% |
| CAG Diagnostics Service And Accessories | $35.3M | 3% |
| Systems And Hardware | $20.1M | 2% |
| Rebate And Up Front Considerations Arrangements | $2.4M | 0% |
| Extended Warranties And Post Contract Support Revenue | $1.0M | 0% |
