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霍尼韦尔（HON）与Smurfit Westrock（SW）财务数据对比。点击上方公司名可切换其他公司
霍尼韦尔的季度营收约是Smurfit Westrock的1.2倍（$9.1B vs $7.6B），霍尼韦尔净利率更高（8.7% vs 1.3%，领先7.4%），霍尼韦尔同比增速更快（2.0% vs 0.5%），Smurfit Westrock自由现金流更多（$612.0M vs $56.0M），过去两年Smurfit Westrock的营收复合增速更高（60.8% vs -2.3%）
霍尼韦尔国际是总部位于美国北卡罗来纳州夏洛特的上市跨国集团，位列2023年《财富》世界500强第115位。核心业务覆盖航空航天、楼宇自动化、工业自动化、能源与可持续发展解决方案四大领域，还受美国能源部委托运营桑迪亚国家实验室。
Smurfit Westrock plc是总部位于爱尔兰都柏林的企业，核心业务为生产瓦楞包装及各类纸制包装产品，公司股票同时在纽约证券交易所和伦敦证券交易所挂牌上市。
HON vs SW — 直观对比
营收规模更大
HON
是对方的1.2倍
$7.6B
营收增速更快
HON
高出1.5%
0.5%
净利率更高
HON
高出7.4%
1.3%
自由现金流更多
SW
多$556.0M
$56.0M
两年增速更快
SW
近两年复合增速
-2.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $9.1B | $7.6B |
| 净利润 | $795.0M | $97.0M |
| 毛利率 | — | 18.2% |
| 营业利润率 | 16.1% | 5.1% |
| 净利率 | 8.7% | 1.3% |
| 营收同比 | 2.0% | 0.5% |
| 净利润同比 | -45.8% | -33.6% |
| 每股收益（稀释后） | $1.29 | $0.18 |
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HONSW
| Q1 26 | $9.1B | — | ||
| Q4 25 | $6.9B | $7.6B | ||
| Q3 25 | $10.4B | $8.0B | ||
| Q2 25 | $10.4B | $7.9B | ||
| Q1 25 | $9.8B | $7.7B | ||
| Q4 24 | $10.1B | $7.5B | ||
| Q3 24 | $9.7B | $7.7B | ||
| Q2 24 | $9.6B | $3.0B |
净利润HONSW
| Q1 26 | $795.0M | — | ||
| Q4 25 | $-115.0M | $97.0M | ||
| Q3 25 | $1.8B | $246.0M | ||
| Q2 25 | $1.6B | $-28.0M | ||
| Q1 25 | $1.4B | $384.0M | ||
| Q4 24 | $1.3B | $146.0M | ||
| Q3 24 | $1.4B | $-150.0M | ||
| Q2 24 | $1.5B | $132.0M |
毛利率HONSW
| Q1 26 | — | — | ||
| Q4 25 | 36.1% | 18.2% | ||
| Q3 25 | 31.1% | 19.6% | ||
| Q2 25 | 35.4% | 19.1% | ||
| Q1 25 | 35.2% | 20.6% | ||
| Q4 24 | 36.4% | 19.1% | ||
| Q3 24 | 35.1% | 17.6% | ||
| Q2 24 | 35.0% | 23.3% |
营业利润率HONSW
| Q1 26 | 16.1% | — | ||
| Q4 25 | 16.0% | 5.1% | ||
| Q3 25 | 23.1% | 6.6% | ||
| Q2 25 | 22.9% | 3.2% | ||
| Q1 25 | 23.0% | 7.2% | ||
| Q4 24 | 21.6% | 5.3% | ||
| Q3 24 | 23.6% | 0.7% | ||
| Q2 24 | 23.0% | 8.2% |
净利率HONSW
| Q1 26 | 8.7% | — | ||
| Q4 25 | -1.7% | 1.3% | ||
| Q3 25 | 17.5% | 3.1% | ||
| Q2 25 | 15.2% | -0.4% | ||
| Q1 25 | 14.8% | 5.0% | ||
| Q4 24 | 12.7% | 1.9% | ||
| Q3 24 | 14.5% | -2.0% | ||
| Q2 24 | 16.1% | 4.4% |
每股收益（稀释后）HONSW
| Q1 26 | $1.29 | — | ||
| Q4 25 | $-0.17 | $0.18 | ||
| Q3 25 | $2.86 | $0.47 | ||
| Q2 25 | $2.45 | $-0.05 | ||
| Q1 25 | $2.22 | $0.73 | ||
| Q4 24 | $1.96 | $-0.12 | ||
| Q3 24 | $2.16 | $-0.30 | ||
| Q2 24 | $2.36 | $0.51 |
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 | $12.4B | $892.0M |
| 总债务越低越好 | $32.1B | $13.4B |
| 股东权益账面价值 | — | $18.3B |
| 总资产 | $74.0B | $45.2B |
| 负债/权益比越低杠杆越低 | — | 0.73× |
8季度趋势，按日历期对齐
现金及短期投资HONSW
| Q1 26 | $12.4B | — | ||
| Q4 25 | $12.9B | $892.0M | ||
| Q3 25 | $13.4B | $851.0M | ||
| Q2 25 | $10.7B | $778.0M | ||
| Q1 25 | $10.1B | $797.0M | ||
| Q4 24 | $11.0B | $855.0M | ||
| Q3 24 | $10.9B | — | ||
| Q2 24 | $9.8B | $26.8K |
总债务HONSW
| Q1 26 | $32.1B | — | ||
| Q4 25 | $27.1B | $13.4B | ||
| Q3 25 | $30.1B | $13.3B | ||
| Q2 25 | $30.2B | $13.3B | ||
| Q1 25 | $25.7B | $12.9B | ||
| Q4 24 | $25.5B | $12.5B | ||
| Q3 24 | $25.9B | $13.2B | ||
| Q2 24 | $20.9B | — |
股东权益HONSW
| Q1 26 | — | — | ||
| Q4 25 | $13.9B | $18.3B | ||
| Q3 25 | $16.8B | $18.4B | ||
| Q2 25 | $16.1B | $18.3B | ||
| Q1 25 | $17.5B | $17.9B | ||
| Q4 24 | $18.6B | $17.4B | ||
| Q3 24 | $17.4B | $18.0B | ||
| Q2 24 | $16.9B | $14.5K |
总资产HONSW
| Q1 26 | $74.0B | — | ||
| Q4 25 | $73.7B | $45.2B | ||
| Q3 25 | $80.9B | $45.6B | ||
| Q2 25 | $78.4B | $45.7B | ||
| Q1 25 | $75.2B | $44.6B | ||
| Q4 24 | $75.2B | $43.8B | ||
| Q3 24 | $73.5B | $45.0B | ||
| Q2 24 | $69.3B | $26.8K |
负债/权益比HONSW
| Q1 26 | — | — | ||
| Q4 25 | 1.95× | 0.73× | ||
| Q3 25 | 1.79× | 0.72× | ||
| Q2 25 | 1.87× | 0.73× | ||
| Q1 25 | 1.47× | 0.72× | ||
| Q4 24 | 1.37× | 0.72× | ||
| Q3 24 | 1.49× | 0.73× | ||
| Q2 24 | 1.23× | — |
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 | $0 | $1.2B |
| 自由现金流经营现金流 - 资本支出 | $56.0M | $612.0M |
| 自由现金流率自由现金流/营收 | 0.6% | 8.1% |
| 资本支出强度资本支出/营收 | 2.4% | 7.7% |
| 现金转化率经营现金流/净利润 | 0.00× | 12.32× |
| 过去12个月自由现金流最近4个季度 | $5.1B | $1.2B |
8季度趋势，按日历期对齐
经营现金流HONSW
| Q1 26 | $0 | — | ||
| Q4 25 | $1.2B | $1.2B | ||
| Q3 25 | $3.3B | $1.1B | ||
| Q2 25 | $1.3B | $829.0M | ||
| Q1 25 | $597.0M | $235.0M | ||
| Q4 24 | $2.3B | $781.0M | ||
| Q3 24 | $2.0B | $320.0M | ||
| Q2 24 | $1.4B | $340.0M |
自由现金流HONSW
| Q1 26 | $56.0M | — | ||
| Q4 25 | $1.1B | $612.0M | ||
| Q3 25 | $2.9B | $523.0M | ||
| Q2 25 | $1.0B | $307.0M | ||
| Q1 25 | $346.0M | $-242.0M | ||
| Q4 24 | $1.9B | $212.0M | ||
| Q3 24 | $1.7B | $-192.0M | ||
| Q2 24 | $1.1B | $163.0M |
自由现金流率HONSW
| Q1 26 | 0.6% | — | ||
| Q4 25 | 16.7% | 8.1% | ||
| Q3 25 | 28.0% | 6.5% | ||
| Q2 25 | 9.8% | 3.9% | ||
| Q1 25 | 3.5% | -3.2% | ||
| Q4 24 | 18.7% | 2.8% | ||
| Q3 24 | 17.7% | -2.5% | ||
| Q2 24 | 11.6% | 5.5% |
资本支出强度HONSW
| Q1 26 | 2.4% | — | ||
| Q4 25 | 0.8% | 7.7% | ||
| Q3 25 | 3.6% | 7.6% | ||
| Q2 25 | 2.9% | 6.6% | ||
| Q1 25 | 2.6% | 6.2% | ||
| Q4 24 | 3.9% | 7.5% | ||
| Q3 24 | 2.9% | 6.7% | ||
| Q2 24 | 2.7% | 6.0% |
现金转化率HONSW
| Q1 26 | 0.00× | — | ||
| Q4 25 | — | 12.32× | ||
| Q3 25 | 1.80× | 4.61× | ||
| Q2 25 | 0.84× | — | ||
| Q1 25 | 0.41× | 0.61× | ||
| Q4 24 | 1.78× | 5.35× | ||
| Q3 24 | 1.41× | — | ||
| Q2 24 | 0.89× | 2.58× |
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
HON
| Aerospace Technologies | $4.3B | 47% |
| Building Automation | $1.9B | 21% |
| Process Automation and Technology | $1.5B | 17% |
| Industrial Automation | $1.4B | 16% |
| Corporate and All Other | $5.0M | 0% |
SW
| Packaging | $3.3B | 43% |
| Other | $3.2B | 43% |
| Paper | $1.1B | 14% |
