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哈雷戴维森（HOG）与J&J SNACK FOODS CORP（JJSF）财务数据对比。点击上方公司名可切换其他公司
哈雷戴维森的季度营收约是J&J SNACK FOODS CORP的1.1倍（$390.5M vs $343.8M），J&J SNACK FOODS CORP净利率更高（0.3% vs -72.3%，领先72.6%），J&J SNACK FOODS CORP同比增速更快（-5.2% vs -9.4%），哈雷戴维森自由现金流更多（$100.4M vs $17.0M），过去两年J&J SNACK FOODS CORP的营收复合增速更高（-2.2% vs -48.6%）
哈雷戴维森是源自美国的摩托车制造商与生活方式品牌，总部位于威斯康星州密尔沃基，创立于1903年。它是大萧条时期幸存下来的两大美国摩托车厂商之一，历经多次股权变动、子公司调整、经营困境与全球竞争，如今已是全球知名的标志性品牌。
强生休闲食品公司（J&J Snack Foods Corp.）是美国知名的品牌休闲食品与冷冻饮品生产商、营销商及分销商，总部位于新泽西州芒特劳雷尔，在全美44个州、墨西哥及加拿大设有超175个生产、仓储及配送设施，于纳斯达克全球精选市场上市，业务覆盖国内外市场。
HOG vs JJSF — 直观对比
营收规模更大
HOG
是对方的1.1倍
$343.8M
营收增速更快
JJSF
高出4.2%
-9.4%
净利率更高
JJSF
高出72.6%
-72.3%
自由现金流更多
HOG
多$83.5M
$17.0M
两年增速更快
JJSF
近两年复合增速
-48.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $390.5M | $343.8M |
| 净利润 | $-282.6M | $883.0K |
| 毛利率 | -7.9% | 27.9% |
| 营业利润率 | -92.4% | 0.2% |
| 净利率 | -72.3% | 0.3% |
| 营收同比 | -9.4% | -5.2% |
| 净利润同比 | -138.6% | -82.8% |
| 每股收益（稀释后） | $-2.27 | $0.05 |
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HOGJJSF
| Q4 25 | $390.5M | $343.8M | ||
| Q3 25 | $1.1B | $410.2M | ||
| Q2 25 | $1.0B | $454.3M | ||
| Q1 25 | $1.1B | $356.1M | ||
| Q4 24 | $430.9M | $362.6M | ||
| Q3 24 | $881.2M | $426.8M | ||
| Q2 24 | $1.4B | $440.0M | ||
| Q1 24 | $1.5B | $359.7M |
净利润HOGJJSF
| Q4 25 | $-282.6M | $883.0K | ||
| Q3 25 | $377.4M | $11.4M | ||
| Q2 25 | $107.6M | $44.2M | ||
| Q1 25 | $133.1M | $4.8M | ||
| Q4 24 | $-118.4M | $5.1M | ||
| Q3 24 | $119.0M | $29.6M | ||
| Q2 24 | $218.3M | $36.3M | ||
| Q1 24 | $234.9M | $13.3M |
毛利率HOGJJSF
| Q4 25 | -7.9% | 27.9% | ||
| Q3 25 | 26.0% | 31.7% | ||
| Q2 25 | 28.5% | 33.0% | ||
| Q1 25 | 28.9% | 26.9% | ||
| Q4 24 | -2.0% | 25.9% | ||
| Q3 24 | 29.8% | 31.8% | ||
| Q2 24 | 31.8% | 33.6% | ||
| Q1 24 | 30.9% | 30.1% |
营业利润率HOGJJSF
| Q4 25 | -92.4% | 0.2% | ||
| Q3 25 | 44.0% | 2.8% | ||
| Q2 25 | 10.7% | 13.3% | ||
| Q1 25 | 14.8% | 1.7% | ||
| Q4 24 | -44.9% | 1.7% | ||
| Q3 24 | 12.0% | 9.3% | ||
| Q2 24 | 17.8% | 11.4% | ||
| Q1 24 | 17.8% | 5.0% |
净利率HOGJJSF
| Q4 25 | -72.3% | 0.3% | ||
| Q3 25 | 35.0% | 2.8% | ||
| Q2 25 | 10.2% | 9.7% | ||
| Q1 25 | 12.3% | 1.4% | ||
| Q4 24 | -27.5% | 1.4% | ||
| Q3 24 | 13.5% | 6.9% | ||
| Q2 24 | 16.1% | 8.3% | ||
| Q1 24 | 15.9% | 3.7% |
每股收益（稀释后）HOGJJSF
| Q4 25 | $-2.27 | $0.05 | ||
| Q3 25 | $3.10 | $0.59 | ||
| Q2 25 | $0.88 | $2.26 | ||
| Q1 25 | $1.07 | $0.25 | ||
| Q4 24 | $-0.82 | $0.26 | ||
| Q3 24 | $0.91 | $1.52 | ||
| Q2 24 | $1.63 | $1.87 | ||
| Q1 24 | $1.72 | $0.69 |
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 | $3.1B | $66.8M |
| 总债务越低越好 | $2.5B | — |
| 股东权益账面价值 | $3.1B | $912.9M |
| 总资产 | $8.0B | $1.3B |
| 负债/权益比越低杠杆越低 | 0.79× | — |
8季度趋势，按日历期对齐
现金及短期投资HOGJJSF
| Q4 25 | $3.1B | $66.8M | ||
| Q3 25 | $1.8B | $105.9M | ||
| Q2 25 | $1.6B | $77.4M | ||
| Q1 25 | $1.9B | $48.5M | ||
| Q4 24 | $1.6B | $73.6M | ||
| Q3 24 | $2.2B | $73.4M | ||
| Q2 24 | $1.8B | $64.0M | ||
| Q1 24 | $1.5B | $43.6M |
总债务HOGJJSF
| Q4 25 | $2.5B | — | ||
| Q3 25 | $4.5B | — | ||
| Q2 25 | $6.4B | — | ||
| Q1 25 | $6.8B | — | ||
| Q4 24 | $6.3B | — | ||
| Q3 24 | $7.3B | — | ||
| Q2 24 | $7.0B | — | ||
| Q1 24 | $6.3B | — |
股东权益HOGJJSF
| Q4 25 | $3.1B | $912.9M | ||
| Q3 25 | $3.6B | $966.7M | ||
| Q2 25 | $3.3B | $969.9M | ||
| Q1 25 | $3.2B | $935.0M | ||
| Q4 24 | $3.2B | $946.8M | ||
| Q3 24 | $3.4B | $957.0M | ||
| Q2 24 | $3.4B | $937.9M | ||
| Q1 24 | $3.3B | $915.7M |
总资产HOGJJSF
| Q4 25 | $8.0B | $1.3B | ||
| Q3 25 | $10.6B | $1.4B | ||
| Q2 25 | $12.1B | $1.4B | ||
| Q1 25 | $12.4B | $1.4B | ||
| Q4 24 | $11.9B | $1.3B | ||
| Q3 24 | $13.0B | $1.4B | ||
| Q2 24 | $12.8B | $1.4B | ||
| Q1 24 | $12.3B | $1.3B |
负债/权益比HOGJJSF
| Q4 25 | 0.79× | — | ||
| Q3 25 | 1.25× | — | ||
| Q2 25 | 1.91× | — | ||
| Q1 25 | 2.14× | — | ||
| Q4 24 | 2.00× | — | ||
| Q3 24 | 2.13× | — | ||
| Q2 24 | 2.03× | — | ||
| Q1 24 | 1.88× | — |
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 | $152.0M | $36.0M |
| 自由现金流经营现金流 - 资本支出 | $100.4M | $17.0M |
| 自由现金流率自由现金流/营收 | 25.7% | 4.9% |
| 资本支出强度资本支出/营收 | 13.2% | 5.5% |
| 现金转化率经营现金流/净利润 | — | 40.73× |
| 过去12个月自由现金流最近4个季度 | $415.2M | $83.1M |
8季度趋势，按日历期对齐
经营现金流HOGJJSF
| Q4 25 | $152.0M | $36.0M | ||
| Q3 25 | $-92.6M | $66.4M | ||
| Q2 25 | $368.0M | $51.2M | ||
| Q1 25 | $141.5M | $12.3M | ||
| Q4 24 | $133.2M | $35.2M | ||
| Q3 24 | $353.0M | $46.3M | ||
| Q2 24 | $473.6M | $65.0M | ||
| Q1 24 | $104.0M | $12.7M |
自由现金流HOGJJSF
| Q4 25 | $100.4M | $17.0M | ||
| Q3 25 | $-129.1M | $44.8M | ||
| Q2 25 | $332.4M | $28.5M | ||
| Q1 25 | $111.6M | $-7.2M | ||
| Q4 24 | $77.0M | $16.1M | ||
| Q3 24 | $300.4M | $29.1M | ||
| Q2 24 | $432.2M | $45.3M | ||
| Q1 24 | $57.6M | $-4.0M |
自由现金流率HOGJJSF
| Q4 25 | 25.7% | 4.9% | ||
| Q3 25 | -12.0% | 10.9% | ||
| Q2 25 | 31.7% | 6.3% | ||
| Q1 25 | 10.3% | -2.0% | ||
| Q4 24 | 17.9% | 4.4% | ||
| Q3 24 | 34.1% | 6.8% | ||
| Q2 24 | 31.9% | 10.3% | ||
| Q1 24 | 3.9% | -1.1% |
资本支出强度HOGJJSF
| Q4 25 | 13.2% | 5.5% | ||
| Q3 25 | 3.4% | 5.3% | ||
| Q2 25 | 3.4% | 5.0% | ||
| Q1 25 | 2.8% | 5.5% | ||
| Q4 24 | 13.0% | 5.3% | ||
| Q3 24 | 6.0% | 4.0% | ||
| Q2 24 | 3.1% | 4.5% | ||
| Q1 24 | 3.1% | 4.6% |
现金转化率HOGJJSF
| Q4 25 | — | 40.73× | ||
| Q3 25 | -0.25× | 5.84× | ||
| Q2 25 | 3.42× | 1.16× | ||
| Q1 25 | 1.06× | 2.55× | ||
| Q4 24 | — | 6.84× | ||
| Q3 24 | 2.97× | 1.56× | ||
| Q2 24 | 2.17× | 1.79× | ||
| Q1 24 | 0.44× | 0.96× |
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
HOG
| Motorcycles | $193.9M | 50% |
| Other | $63.8M | 16% |
| Other Income Financial Services | $59.8M | 15% |
| Apparel | $47.2M | 12% |
| Livewire Segment | $11.4M | 3% |
JJSF
| Food Service | $219.2M | 64% |
| Frozen Beverages | $78.7M | 23% |
| Repair And Maintenance Service | $22.5M | 7% |
| Other | $12.7M | 4% |
| Machine Sales | $10.7M | 3% |
