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哈雷戴维森（HOG）与LOUISIANA-PACIFIC CORP（LPX）财务数据对比。点击上方公司名可切换其他公司
LOUISIANA-PACIFIC CORP的季度营收约是哈雷戴维森的1.4倍（$566.0M vs $390.5M），LOUISIANA-PACIFIC CORP净利率更高（-1.4% vs -72.3%，领先70.9%），哈雷戴维森同比增速更快（-9.4% vs -16.9%），哈雷戴维森自由现金流更多（$100.4M vs $-8.0M），过去两年LOUISIANA-PACIFIC CORP的营收复合增速更高（-11.6% 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。
路易斯安那-太平洋公司（简称LP）是美国知名建材制造商，成立于1973年，是美国定向结构刨花板（OSB）生产的开创者，总部现位于田纳西州纳什维尔。作为全球最大的OSB生产商，公司还生产工程木建材产品，通过建材分销商、经销商及家居零售中心向建筑商和业主供货。
HOG vs LPX — 直观对比
营收规模更大
LPX
是对方的1.4倍
$390.5M
营收增速更快
HOG
高出7.5%
-16.9%
净利率更高
LPX
高出70.9%
-72.3%
自由现金流更多
HOG
多$108.4M
$-8.0M
两年增速更快
LPX
近两年复合增速
-48.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $390.5M | $566.0M |
| 净利润 | $-282.6M | $-8.0M |
| 毛利率 | -7.9% | 15.0% |
| 营业利润率 | -92.4% | -1.6% |
| 净利率 | -72.3% | -1.4% |
| 营收同比 | -9.4% | -16.9% |
| 净利润同比 | -138.6% | -112.9% |
| 每股收益（稀释后） | $-2.27 | $-0.12 |
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HOGLPX
| Q4 25 | $390.5M | $566.0M | ||
| Q3 25 | $1.1B | $663.0M | ||
| Q2 25 | $1.0B | $755.0M | ||
| Q1 25 | $1.1B | $724.0M | ||
| Q4 24 | $430.9M | $681.0M | ||
| Q3 24 | $881.2M | $722.0M | ||
| Q2 24 | $1.4B | $814.0M | ||
| Q1 24 | $1.5B | $724.0M |
净利润HOGLPX
| Q4 25 | $-282.6M | $-8.0M | ||
| Q3 25 | $377.4M | $9.0M | ||
| Q2 25 | $107.6M | $54.0M | ||
| Q1 25 | $133.1M | $91.0M | ||
| Q4 24 | $-118.4M | $62.0M | ||
| Q3 24 | $119.0M | $90.0M | ||
| Q2 24 | $218.3M | $160.0M | ||
| Q1 24 | $234.9M | $108.0M |
毛利率HOGLPX
| Q4 25 | -7.9% | 15.0% | ||
| Q3 25 | 26.0% | 19.5% | ||
| Q2 25 | 28.5% | 23.6% | ||
| Q1 25 | 28.9% | 27.2% | ||
| Q4 24 | -2.0% | 23.8% | ||
| Q3 24 | 29.8% | 26.7% | ||
| Q2 24 | 31.8% | 32.3% | ||
| Q1 24 | 30.9% | 29.6% |
营业利润率HOGLPX
| Q4 25 | -92.4% | -1.6% | ||
| Q3 25 | 44.0% | 2.7% | ||
| Q2 25 | 10.7% | 10.6% | ||
| Q1 25 | 14.8% | 16.6% | ||
| Q4 24 | -44.9% | 11.0% | ||
| Q3 24 | 12.0% | 16.1% | ||
| Q2 24 | 17.8% | 23.8% | ||
| Q1 24 | 17.8% | 20.0% |
净利率HOGLPX
| Q4 25 | -72.3% | -1.4% | ||
| Q3 25 | 35.0% | 1.4% | ||
| Q2 25 | 10.2% | 7.2% | ||
| Q1 25 | 12.3% | 12.6% | ||
| Q4 24 | -27.5% | 9.1% | ||
| Q3 24 | 13.5% | 12.5% | ||
| Q2 24 | 16.1% | 19.7% | ||
| Q1 24 | 15.9% | 14.9% |
每股收益（稀释后）HOGLPX
| Q4 25 | $-2.27 | $-0.12 | ||
| Q3 25 | $3.10 | $0.13 | ||
| Q2 25 | $0.88 | $0.77 | ||
| Q1 25 | $1.07 | $1.30 | ||
| Q4 24 | $-0.82 | $0.90 | ||
| Q3 24 | $0.91 | $1.28 | ||
| Q2 24 | $1.63 | $2.23 | ||
| Q1 24 | $1.72 | $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 | $3.1B | $292.0M |
| 总债务越低越好 | $2.5B | $348.0M |
| 股东权益账面价值 | $3.1B | $1.7B |
| 总资产 | $8.0B | $2.6B |
| 负债/权益比越低杠杆越低 | 0.79× | 0.20× |
8季度趋势，按日历期对齐
现金及短期投资HOGLPX
| Q4 25 | $3.1B | $292.0M | ||
| Q3 25 | $1.8B | $316.0M | ||
| Q2 25 | $1.6B | $333.0M | ||
| Q1 25 | $1.9B | $256.0M | ||
| Q4 24 | $1.6B | $340.0M | ||
| Q3 24 | $2.2B | $346.0M | ||
| Q2 24 | $1.8B | $317.0M | ||
| Q1 24 | $1.5B | $244.0M |
总债务HOGLPX
| Q4 25 | $2.5B | $348.0M | ||
| Q3 25 | $4.5B | $348.0M | ||
| Q2 25 | $6.4B | $348.0M | ||
| Q1 25 | $6.8B | $348.0M | ||
| Q4 24 | $6.3B | $348.0M | ||
| Q3 24 | $7.3B | $347.0M | ||
| Q2 24 | $7.0B | $347.0M | ||
| Q1 24 | $6.3B | $347.0M |
股东权益HOGLPX
| Q4 25 | $3.1B | $1.7B | ||
| Q3 25 | $3.6B | $1.7B | ||
| Q2 25 | $3.3B | $1.7B | ||
| Q1 25 | $3.2B | $1.7B | ||
| Q4 24 | $3.2B | $1.7B | ||
| Q3 24 | $3.4B | $1.7B | ||
| Q2 24 | $3.4B | $1.7B | ||
| Q1 24 | $3.3B | $1.6B |
总资产HOGLPX
| Q4 25 | $8.0B | $2.6B | ||
| Q3 25 | $10.6B | $2.6B | ||
| Q2 25 | $12.1B | $2.7B | ||
| Q1 25 | $12.4B | $2.6B | ||
| Q4 24 | $11.9B | $2.6B | ||
| Q3 24 | $13.0B | $2.6B | ||
| Q2 24 | $12.8B | $2.5B | ||
| Q1 24 | $12.3B | $2.5B |
负债/权益比HOGLPX
| Q4 25 | 0.79× | 0.20× | ||
| Q3 25 | 1.25× | 0.20× | ||
| Q2 25 | 1.91× | 0.20× | ||
| Q1 25 | 2.14× | 0.21× | ||
| Q4 24 | 2.00× | 0.21× | ||
| Q3 24 | 2.13× | 0.21× | ||
| Q2 24 | 2.03× | 0.21× | ||
| Q1 24 | 1.88× | 0.21× |
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 | $67.0M |
| 自由现金流经营现金流 - 资本支出 | $100.4M | $-8.0M |
| 自由现金流率自由现金流/营收 | 25.7% | -1.4% |
| 资本支出强度资本支出/营收 | 13.2% | 13.3% |
| 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 | $415.2M | $91.0M |
8季度趋势，按日历期对齐
经营现金流HOGLPX
| Q4 25 | $152.0M | $67.0M | ||
| Q3 25 | $-92.6M | $89.0M | ||
| Q2 25 | $368.0M | $162.0M | ||
| Q1 25 | $141.5M | $64.0M | ||
| Q4 24 | $133.2M | $105.0M | ||
| Q3 24 | $353.0M | $183.0M | ||
| Q2 24 | $473.6M | $212.0M | ||
| Q1 24 | $104.0M | $105.0M |
自由现金流HOGLPX
| Q4 25 | $100.4M | $-8.0M | ||
| Q3 25 | $-129.1M | $5.0M | ||
| Q2 25 | $332.4M | $94.0M | ||
| Q1 25 | $111.6M | $0 | ||
| Q4 24 | $77.0M | $43.0M | ||
| Q3 24 | $300.4M | $139.0M | ||
| Q2 24 | $432.2M | $176.0M | ||
| Q1 24 | $57.6M | $64.0M |
自由现金流率HOGLPX
| Q4 25 | 25.7% | -1.4% | ||
| Q3 25 | -12.0% | 0.8% | ||
| Q2 25 | 31.7% | 12.5% | ||
| Q1 25 | 10.3% | 0.0% | ||
| Q4 24 | 17.9% | 6.3% | ||
| Q3 24 | 34.1% | 19.3% | ||
| Q2 24 | 31.9% | 21.6% | ||
| Q1 24 | 3.9% | 8.8% |
资本支出强度HOGLPX
| Q4 25 | 13.2% | 13.3% | ||
| Q3 25 | 3.4% | 12.7% | ||
| Q2 25 | 3.4% | 9.0% | ||
| Q1 25 | 2.8% | 8.8% | ||
| Q4 24 | 13.0% | 9.1% | ||
| Q3 24 | 6.0% | 6.1% | ||
| Q2 24 | 3.1% | 4.4% | ||
| Q1 24 | 3.1% | 5.7% |
现金转化率HOGLPX
| Q4 25 | — | — | ||
| Q3 25 | -0.25× | 9.89× | ||
| Q2 25 | 3.42× | 3.00× | ||
| Q1 25 | 1.06× | 0.70× | ||
| Q4 24 | — | 1.69× | ||
| Q3 24 | 2.97× | 2.03× | ||
| Q2 24 | 2.17× | 1.32× | ||
| Q1 24 | 0.44× | 0.97× |
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% |
LPX
| OS Bvalueadd | $472.0M | 83% |
| Other | $84.0M | 15% |
| Otherproducts | $10.0M | 2% |
