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荷美尔食品（HRL）与ICAHN ENTERPRISES L.P.（IEP）财务数据对比。点击上方公司名可切换其他公司
荷美尔食品的季度营收约是ICAHN ENTERPRISES L.P.的1.2倍（$3.2B vs $2.7B），ICAHN ENTERPRISES L.P.净利率更高（0.0% vs -1.8%，领先1.8%），ICAHN ENTERPRISES L.P.同比增速更快（5.4% vs 1.5%），荷美尔食品自由现金流更多（$231.4M vs $-496.0M），过去两年ICAHN ENTERPRISES L.P.的营收复合增速更高（4.5% vs 3.1%）
荷美尔食品是1891年于美国明尼苏达州奥斯汀成立的跨国食品加工企业，由乔治·A·荷美尔创立。品牌最初主营火腿、香肠等各类畜肉产品的包装与销售，1937年推出斯帕姆午餐肉，上世纪80年代起逐步拓展多元化包装及冷藏食品产品线。
伊坎企业有限合伙企业是美国上市的 Master 有限合伙企业与多元化集团，总部位于佛罗里达州阳光岛海滩的弥尔顿大厦。公司投资布局覆盖能源、汽车、食品包装、金属、房地产、家居时尚等多个领域，由知名投资人卡尔·伊坎控股，其持股比例达86%。
HRL vs IEP — 直观对比
营收规模更大
HRL
是对方的1.2倍
$2.7B
营收增速更快
IEP
高出3.8%
1.5%
净利率更高
IEP
高出1.8%
-1.8%
自由现金流更多
HRL
多$727.4M
$-496.0M
两年增速更快
IEP
近两年复合增速
3.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.2B | $2.7B |
| 净利润 | $-56.1M | $1.0M |
| 毛利率 | 14.0% | — |
| 营业利润率 | 0.1% | 0.6% |
| 净利率 | -1.8% | 0.0% |
| 营收同比 | 1.5% | 5.4% |
| 净利润同比 | -125.5% | 101.0% |
| 每股收益（稀释后） | $-0.10 | — |
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HRLIEP
| Q4 25 | $3.2B | $2.7B | ||
| Q3 25 | $3.0B | $2.7B | ||
| Q2 25 | $2.9B | $2.4B | ||
| Q1 25 | $3.0B | $1.9B | ||
| Q4 24 | $3.1B | $2.6B | ||
| Q3 24 | $2.9B | $2.8B | ||
| Q2 24 | $2.9B | $2.2B | ||
| Q1 24 | $3.0B | $2.5B |
净利润HRLIEP
| Q4 25 | $-56.1M | $1.0M | ||
| Q3 25 | $183.7M | $287.0M | ||
| Q2 25 | $180.0M | $-165.0M | ||
| Q1 25 | $170.6M | $-422.0M | ||
| Q4 24 | $220.2M | $-98.0M | ||
| Q3 24 | $176.7M | $22.0M | ||
| Q2 24 | $189.3M | $-331.0M | ||
| Q1 24 | $218.9M | $-38.0M |
毛利率HRLIEP
| Q4 25 | 14.0% | — | ||
| Q3 25 | 16.1% | — | ||
| Q2 25 | 16.7% | — | ||
| Q1 25 | 15.9% | — | ||
| Q4 24 | 16.6% | — | ||
| Q3 24 | 16.8% | — | ||
| Q2 24 | 17.4% | — | ||
| Q1 24 | 17.0% | — |
营业利润率HRLIEP
| Q4 25 | 0.1% | 0.6% | ||
| Q3 25 | 7.9% | 19.7% | ||
| Q2 25 | 8.6% | -10.4% | ||
| Q1 25 | 7.6% | -35.0% | ||
| Q4 24 | 9.4% | -5.2% | ||
| Q3 24 | 8.2% | 2.4% | ||
| Q2 24 | 8.7% | -21.9% | ||
| Q1 24 | 9.5% | -0.8% |
净利率HRLIEP
| Q4 25 | -1.8% | 0.0% | ||
| Q3 25 | 6.1% | 10.5% | ||
| Q2 25 | 6.2% | -7.0% | ||
| Q1 25 | 5.7% | -22.6% | ||
| Q4 24 | 7.0% | -3.8% | ||
| Q3 24 | 6.1% | 0.8% | ||
| Q2 24 | 6.6% | -15.0% | ||
| Q1 24 | 7.3% | -1.5% |
每股收益（稀释后）HRLIEP
| Q4 25 | $-0.10 | — | ||
| Q3 25 | $0.33 | — | ||
| Q2 25 | $0.33 | — | ||
| Q1 25 | $0.31 | — | ||
| Q4 24 | $0.41 | — | ||
| Q3 24 | $0.32 | — | ||
| Q2 24 | $0.34 | — | ||
| Q1 24 | $0.40 | — |
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 | $703.6M | $1.4B |
| 总债务越低越好 | $2.9B | — |
| 股东权益账面价值 | $7.9B | — |
| 总资产 | $13.4B | $14.2B |
| 负债/权益比越低杠杆越低 | 0.36× | — |
8季度趋势，按日历期对齐
现金及短期投资HRLIEP
| Q4 25 | $703.6M | $1.4B | ||
| Q3 25 | $630.7M | $1.8B | ||
| Q2 25 | $699.0M | $1.8B | ||
| Q1 25 | $866.4M | $2.2B | ||
| Q4 24 | $766.6M | $2.6B | ||
| Q3 24 | $561.9M | $2.3B | ||
| Q2 24 | $1.5B | $2.2B | ||
| Q1 24 | $981.9M | $2.5B |
总债务HRLIEP
| Q4 25 | $2.9B | — | ||
| Q3 25 | $2.9B | — | ||
| Q2 25 | $2.9B | — | ||
| Q1 25 | $2.9B | — | ||
| Q4 24 | $2.9B | — | ||
| Q3 24 | $2.9B | — | ||
| Q2 24 | $2.9B | — | ||
| Q1 24 | $2.4B | — |
股东权益HRLIEP
| Q4 25 | $7.9B | — | ||
| Q3 25 | $8.1B | — | ||
| Q2 25 | $8.0B | — | ||
| Q1 25 | $8.0B | — | ||
| Q4 24 | $8.0B | — | ||
| Q3 24 | $7.9B | — | ||
| Q2 24 | $7.9B | — | ||
| Q1 24 | $7.8B | — |
总资产HRLIEP
| Q4 25 | $13.4B | $14.2B | ||
| Q3 25 | $13.5B | $14.8B | ||
| Q2 25 | $13.4B | $14.8B | ||
| Q1 25 | $13.4B | $15.5B | ||
| Q4 24 | $13.4B | $16.3B | ||
| Q3 24 | $13.1B | $17.4B | ||
| Q2 24 | $14.1B | $18.0B | ||
| Q1 24 | $13.5B | $20.1B |
负债/权益比HRLIEP
| Q4 25 | 0.36× | — | ||
| Q3 25 | 0.35× | — | ||
| Q2 25 | 0.35× | — | ||
| Q1 25 | 0.36× | — | ||
| Q4 24 | 0.36× | — | ||
| Q3 24 | 0.36× | — | ||
| Q2 24 | 0.36× | — | ||
| Q1 24 | 0.30× | — |
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 | $322.9M | $-421.0M |
| 自由现金流经营现金流 - 资本支出 | $231.4M | $-496.0M |
| 自由现金流率自由现金流/营收 | 7.3% | -18.4% |
| 资本支出强度资本支出/营收 | 2.9% | 2.8% |
| 现金转化率经营现金流/净利润 | — | -421.00× |
| 过去12个月自由现金流最近4个季度 | $534.3M | $-654.0M |
8季度趋势，按日历期对齐
经营现金流HRLIEP
| Q4 25 | $322.9M | $-421.0M | ||
| Q3 25 | $156.7M | $15.0M | ||
| Q2 25 | $56.4M | $275.0M | ||
| Q1 25 | $309.2M | $-182.0M | ||
| Q4 24 | $408.6M | $244.0M | ||
| Q3 24 | $218.0M | $-54.0M | ||
| Q2 24 | $236.1M | $893.0M | ||
| Q1 24 | $404.0M | $-251.0M |
自由现金流HRLIEP
| Q4 25 | $231.4M | $-496.0M | ||
| Q3 25 | $84.5M | $-67.0M | ||
| Q2 25 | $-18.6M | $179.0M | ||
| Q1 25 | $237.0M | $-270.0M | ||
| Q4 24 | $324.8M | $156.0M | ||
| Q3 24 | $152.5M | $-112.0M | ||
| Q2 24 | $176.2M | $827.0M | ||
| Q1 24 | $356.8M | $-319.0M |
自由现金流率HRLIEP
| Q4 25 | 7.3% | -18.4% | ||
| Q3 25 | 2.8% | -2.5% | ||
| Q2 25 | -0.6% | 7.6% | ||
| Q1 25 | 7.9% | -14.5% | ||
| Q4 24 | 10.4% | 6.1% | ||
| Q3 24 | 5.3% | -4.0% | ||
| Q2 24 | 6.1% | 37.6% | ||
| Q1 24 | 11.9% | -12.9% |
资本支出强度HRLIEP
| Q4 25 | 2.9% | 2.8% | ||
| Q3 25 | 2.4% | 3.0% | ||
| Q2 25 | 2.6% | 4.1% | ||
| Q1 25 | 2.4% | 4.7% | ||
| Q4 24 | 2.7% | 3.4% | ||
| Q3 24 | 2.3% | 2.1% | ||
| Q2 24 | 2.1% | 3.0% | ||
| Q1 24 | 1.6% | 2.8% |
现金转化率HRLIEP
| Q4 25 | — | -421.00× | ||
| Q3 25 | 0.85× | 0.05× | ||
| Q2 25 | 0.31× | — | ||
| Q1 25 | 1.81× | — | ||
| Q4 24 | 1.86× | — | ||
| Q3 24 | 1.23× | -2.45× | ||
| Q2 24 | 1.25× | — | ||
| Q1 24 | 1.85× | — |
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
HRL
| Retail Segment | $1.9B | 60% |
| Foodservice Segment | $1.1B | 34% |
| Other | $174.7M | 5% |
IEP
| Public Utilities Inventory Petroleum Products | $1.6B | 61% |
| Other | $381.0M | 14% |
| Automotive Services | $345.0M | 13% |
| Nitrogen Fertilizer Products | $131.0M | 5% |
| Food Packaging Segment | $82.0M | 3% |
| Home Fashion Segment | $45.0M | 2% |
| Renewable Products | $32.0M | 1% |
| Pharma Segment | $23.0M | 1% |
| Holding Company | $11.0M | 0% |
