vs
HNI CORP（HNI）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HNI CORP的1.9倍（$1.3B vs $683.8M），HNI CORP净利率更高（6.0% vs -63.1%，领先69.1%），HNI CORP同比增速更快（1.7% vs -25.8%），HNI CORP自由现金流更多（$135.6M vs $-1.1B），过去两年Rivian Automotive, Inc.的营收复合增速更高（3.3% 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。
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。
HNI vs RIVN — 直观对比
营收规模更大
RIVN
是对方的1.9倍
$683.8M
营收增速更快
HNI
高出27.6%
-25.8%
净利率更高
HNI
高出69.1%
-63.1%
自由现金流更多
HNI
多$1.3B
$-1.1B
两年增速更快
RIVN
近两年复合增速
0.3%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $683.8M | $1.3B |
| 净利润 | $41.2M | $-811.0M |
| 毛利率 | 42.1% | 9.3% |
| 营业利润率 | 9.4% | -64.8% |
| 净利率 | 6.0% | -63.1% |
| 营收同比 | 1.7% | -25.8% |
| 净利润同比 | -13.3% | -9.0% |
| 每股收益（稀释后） | $0.88 | $-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HNIRIVN
| Q4 25 | — | $1.3B | ||
| Q3 25 | $683.8M | $1.6B | ||
| Q2 25 | $667.1M | $1.3B | ||
| Q1 25 | $599.8M | $1.2B | ||
| Q4 24 | $642.5M | $1.7B | ||
| Q3 24 | $672.2M | $874.0M | ||
| Q2 24 | $623.7M | $1.2B | ||
| Q1 24 | $588.0M | $1.2B |
净利润HNIRIVN
| Q4 25 | — | $-811.0M | ||
| Q3 25 | $41.2M | $-1.2B | ||
| Q2 25 | $48.2M | $-1.1B | ||
| Q1 25 | $13.9M | $-545.0M | ||
| Q4 24 | $38.3M | $-744.0M | ||
| Q3 24 | $47.5M | $-1.1B | ||
| Q2 24 | $36.0M | $-1.5B | ||
| Q1 24 | $17.7M | $-1.4B |
毛利率HNIRIVN
| Q4 25 | — | 9.3% | ||
| Q3 25 | 42.1% | 1.5% | ||
| Q2 25 | 42.9% | -15.8% | ||
| Q1 25 | 39.7% | 16.6% | ||
| Q4 24 | 40.5% | 9.8% | ||
| Q3 24 | 41.5% | -44.9% | ||
| Q2 24 | 41.9% | -38.9% | ||
| Q1 24 | 39.6% | -43.8% |
营业利润率HNIRIVN
| Q4 25 | — | -64.8% | ||
| Q3 25 | 9.4% | -63.1% | ||
| Q2 25 | 10.2% | -85.5% | ||
| Q1 25 | 4.1% | -52.8% | ||
| Q4 24 | 8.5% | -38.1% | ||
| Q3 24 | 10.2% | -133.8% | ||
| Q2 24 | 8.6% | -118.7% | ||
| Q1 24 | 5.1% | -123.3% |
净利率HNIRIVN
| Q4 25 | — | -63.1% | ||
| Q3 25 | 6.0% | -75.3% | ||
| Q2 25 | 7.2% | -85.7% | ||
| Q1 25 | 2.3% | -44.0% | ||
| Q4 24 | 6.0% | -42.9% | ||
| Q3 24 | 7.1% | -125.9% | ||
| Q2 24 | 5.8% | -125.8% | ||
| Q1 24 | 3.0% | -120.1% |
每股收益（稀释后）HNIRIVN
| Q4 25 | — | $-0.66 | ||
| Q3 25 | $0.88 | $-0.96 | ||
| Q2 25 | $1.02 | $-0.97 | ||
| Q1 25 | $0.29 | $-0.48 | ||
| Q4 24 | $0.78 | $-0.67 | ||
| Q3 24 | $0.98 | $-1.08 | ||
| Q2 24 | $0.75 | $-1.46 | ||
| Q1 24 | $0.37 | $-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 | $28.1M | $6.1B |
| 总债务越低越好 | $324.2M | — |
| 股东权益账面价值 | $835.9M | $4.6B |
| 总资产 | $1.8B | $14.9B |
| 负债/权益比越低杠杆越低 | 0.39× | — |
8季度趋势，按日历期对齐
现金及短期投资HNIRIVN
| Q4 25 | — | $6.1B | ||
| Q3 25 | $28.1M | $7.1B | ||
| Q2 25 | $38.2M | $7.5B | ||
| Q1 25 | $27.5M | $7.2B | ||
| Q4 24 | $28.9M | $7.7B | ||
| Q3 24 | $40.2M | $6.7B | ||
| Q2 24 | $33.5M | $7.9B | ||
| Q1 24 | $32.5M | $7.9B |
总债务HNIRIVN
| Q4 25 | — | — | ||
| Q3 25 | $324.2M | — | ||
| Q2 25 | $444.4M | — | ||
| Q1 25 | $404.7M | — | ||
| Q4 24 | $344.6M | — | ||
| Q3 24 | $345.4M | — | ||
| Q2 24 | $462.3M | $5.5B | ||
| Q1 24 | $473.0M | $4.4B |
股东权益HNIRIVN
| Q4 25 | — | $4.6B | ||
| Q3 25 | $835.9M | $5.1B | ||
| Q2 25 | $811.0M | $6.1B | ||
| Q1 25 | $803.6M | $6.2B | ||
| Q4 24 | $840.1M | $6.6B | ||
| Q3 24 | $846.6M | $5.9B | ||
| Q2 24 | $787.8M | $6.8B | ||
| Q1 24 | $771.5M | $8.1B |
总资产HNIRIVN
| Q4 25 | — | $14.9B | ||
| Q3 25 | $1.8B | $15.2B | ||
| Q2 25 | $1.9B | $15.6B | ||
| Q1 25 | $1.9B | $15.5B | ||
| Q4 24 | $1.9B | $15.4B | ||
| Q3 24 | $1.9B | $14.3B | ||
| Q2 24 | $1.9B | $15.4B | ||
| Q1 24 | $1.9B | $15.7B |
负债/权益比HNIRIVN
| Q4 25 | — | — | ||
| Q3 25 | 0.39× | — | ||
| Q2 25 | 0.55× | — | ||
| Q1 25 | 0.50× | — | ||
| Q4 24 | 0.41× | — | ||
| Q3 24 | 0.41× | — | ||
| Q2 24 | 0.59× | 0.81× | ||
| Q1 24 | 0.61× | 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 | $155.2M | $-681.0M |
| 自由现金流经营现金流 - 资本支出 | $135.6M | $-1.1B |
| 自由现金流率自由现金流/营收 | 19.8% | -89.0% |
| 资本支出强度资本支出/营收 | 2.9% | 36.0% |
| 现金转化率经营现金流/净利润 | 3.77× | — |
| 过去12个月自由现金流最近4个季度 | $189.5M | $-2.5B |
8季度趋势，按日历期对齐
经营现金流HNIRIVN
| Q4 25 | — | $-681.0M | ||
| Q3 25 | $155.2M | $26.0M | ||
| Q2 25 | $31.1M | $64.0M | ||
| Q1 25 | $12.6M | $-188.0M | ||
| Q4 24 | $51.2M | $1.2B | ||
| Q3 24 | $128.5M | $-876.0M | ||
| Q2 24 | $51.3M | $-754.0M | ||
| Q1 24 | $-4.3M | $-1.3B |
自由现金流HNIRIVN
| Q4 25 | — | $-1.1B | ||
| Q3 25 | $135.6M | $-421.0M | ||
| Q2 25 | $16.1M | $-398.0M | ||
| Q1 25 | $-3.7M | $-526.0M | ||
| Q4 24 | $41.5M | $856.0M | ||
| Q3 24 | $114.0M | $-1.2B | ||
| Q2 24 | $33.8M | $-1.0B | ||
| Q1 24 | $-15.5M | $-1.5B |
自由现金流率HNIRIVN
| Q4 25 | — | -89.0% | ||
| Q3 25 | 19.8% | -27.0% | ||
| Q2 25 | 2.4% | -30.5% | ||
| Q1 25 | -0.6% | -42.4% | ||
| Q4 24 | 6.5% | 49.4% | ||
| Q3 24 | 17.0% | -131.9% | ||
| Q2 24 | 5.4% | -89.6% | ||
| Q1 24 | -2.6% | -126.5% |
资本支出强度HNIRIVN
| Q4 25 | — | 36.0% | ||
| Q3 25 | 2.9% | 28.7% | ||
| Q2 25 | 2.2% | 35.5% | ||
| Q1 25 | 2.7% | 27.3% | ||
| Q4 24 | 1.5% | 18.9% | ||
| Q3 24 | 2.2% | 31.7% | ||
| Q2 24 | 2.8% | 24.4% | ||
| Q1 24 | 1.9% | 21.1% |
现金转化率HNIRIVN
| Q4 25 | — | — | ||
| Q3 25 | 3.77× | — | ||
| Q2 25 | 0.65× | — | ||
| Q1 25 | 0.91× | — | ||
| Q4 24 | 1.34× | — | ||
| Q3 24 | 2.71× | — | ||
| Q2 24 | 1.43× | — | ||
| Q1 24 | -0.24× | — |
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% |
RIVN
| Automotive Segment | $839.0M | 65% |
| Software And Services Segment | $447.0M | 35% |
| Regulatory Credits | $30.0M | 2% |
