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荷美尔食品（HRL）与美泰（MAT）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美泰的3.7倍（$3.2B vs $862.2M），美泰净利率更高（7.1% vs -1.8%，领先8.8%），美泰同比增速更快（4.3% vs 1.5%），荷美尔食品自由现金流更多（$231.4M vs $-88.1M），过去两年荷美尔食品的营收复合增速更高（3.1% vs -10.6%）
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。
美泰是美国知名玩具及娱乐企业，旗下影视制作部门美泰影业运营时间为2018年9月6日至2025年6月2日。其前身为2013年10月16日成立的美泰Playground Productions，更早可追溯至美泰娱乐、美泰工作室等集团原有娱乐业务品牌。
HRL vs MAT — 直观对比
营收规模更大
HRL
是对方的3.7倍
$862.2M
营收增速更快
MAT
高出2.8%
1.5%
净利率更高
MAT
高出8.8%
-1.8%
自由现金流更多
HRL
多$319.5M
$-88.1M
两年增速更快
HRL
近两年复合增速
-10.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.2B | $862.2M |
| 净利润 | $-56.1M | $61.0M |
| 毛利率 | 14.0% | 44.9% |
| 营业利润率 | 0.1% | — |
| 净利率 | -1.8% | 7.1% |
| 营收同比 | 1.5% | 4.3% |
| 净利润同比 | -125.5% | 251.4% |
| 每股收益（稀释后） | $-0.10 | $0.20 |
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HRLMAT
| Q1 26 | — | $862.2M | ||
| Q4 25 | $3.2B | $1.8B | ||
| Q3 25 | $3.0B | $1.7B | ||
| Q2 25 | $2.9B | $1.0B | ||
| Q1 25 | $3.0B | $826.6M | ||
| Q4 24 | $3.1B | $1.6B | ||
| Q3 24 | $2.9B | $1.8B | ||
| Q2 24 | $2.9B | $1.1B |
净利润HRLMAT
| Q1 26 | — | $61.0M | ||
| Q4 25 | $-56.1M | $106.2M | ||
| Q3 25 | $183.7M | $278.4M | ||
| Q2 25 | $180.0M | $53.4M | ||
| Q1 25 | $170.6M | $-40.3M | ||
| Q4 24 | $220.2M | $140.9M | ||
| Q3 24 | $176.7M | $372.4M | ||
| Q2 24 | $189.3M | $56.9M |
毛利率HRLMAT
| Q1 26 | — | 44.9% | ||
| Q4 25 | 14.0% | 45.9% | ||
| Q3 25 | 16.1% | 50.0% | ||
| Q2 25 | 16.7% | 50.9% | ||
| Q1 25 | 15.9% | 49.4% | ||
| Q4 24 | 16.6% | 50.7% | ||
| Q3 24 | 16.8% | 53.1% | ||
| Q2 24 | 17.4% | 49.2% |
营业利润率HRLMAT
| Q1 26 | — | — | ||
| Q4 25 | 0.1% | 8.0% | ||
| Q3 25 | 7.9% | 21.9% | ||
| Q2 25 | 8.6% | 7.7% | ||
| Q1 25 | 7.6% | -6.4% | ||
| Q4 24 | 9.4% | 9.6% | ||
| Q3 24 | 8.2% | 26.5% | ||
| Q2 24 | 8.7% | 7.7% |
净利率HRLMAT
| Q1 26 | — | 7.1% | ||
| Q4 25 | -1.8% | 6.0% | ||
| Q3 25 | 6.1% | 16.0% | ||
| Q2 25 | 6.2% | 5.2% | ||
| Q1 25 | 5.7% | -4.9% | ||
| Q4 24 | 7.0% | 8.6% | ||
| Q3 24 | 6.1% | 20.2% | ||
| Q2 24 | 6.6% | 5.3% |
每股收益（稀释后）HRLMAT
| Q1 26 | — | $0.20 | ||
| Q4 25 | $-0.10 | $0.32 | ||
| Q3 25 | $0.33 | $0.88 | ||
| Q2 25 | $0.33 | $0.16 | ||
| Q1 25 | $0.31 | $-0.12 | ||
| Q4 24 | $0.41 | $0.40 | ||
| Q3 24 | $0.32 | $1.09 | ||
| Q2 24 | $0.34 | $0.17 |
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 | $866.0M |
| 总债务越低越好 | $2.9B | $2.3B |
| 股东权益账面价值 | $7.9B | $2.1B |
| 总资产 | $13.4B | $6.3B |
| 负债/权益比越低杠杆越低 | 0.36× | 1.11× |
8季度趋势，按日历期对齐
现金及短期投资HRLMAT
| Q1 26 | — | $866.0M | ||
| Q4 25 | $703.6M | $1.2B | ||
| Q3 25 | $630.7M | $691.9M | ||
| Q2 25 | $699.0M | $870.5M | ||
| Q1 25 | $866.4M | $1.2B | ||
| Q4 24 | $766.6M | $1.4B | ||
| Q3 24 | $561.9M | $723.5M | ||
| Q2 24 | $1.5B | $722.4M |
总债务HRLMAT
| Q1 26 | — | $2.3B | ||
| Q4 25 | $2.9B | $2.3B | ||
| Q3 25 | $2.9B | $2.3B | ||
| Q2 25 | $2.9B | $2.3B | ||
| Q1 25 | $2.9B | $2.3B | ||
| Q4 24 | $2.9B | $2.3B | ||
| Q3 24 | $2.9B | $2.3B | ||
| Q2 24 | $2.9B | $2.3B |
股东权益HRLMAT
| Q1 26 | — | $2.1B | ||
| Q4 25 | $7.9B | $2.2B | ||
| Q3 25 | $8.1B | $2.3B | ||
| Q2 25 | $8.0B | $2.2B | ||
| Q1 25 | $8.0B | $2.1B | ||
| Q4 24 | $8.0B | $2.3B | ||
| Q3 24 | $7.9B | $2.3B | ||
| Q2 24 | $7.9B | $2.0B |
总资产HRLMAT
| Q1 26 | — | $6.3B | ||
| Q4 25 | $13.4B | $6.6B | ||
| Q3 25 | $13.5B | $6.6B | ||
| Q2 25 | $13.4B | $6.2B | ||
| Q1 25 | $13.4B | $6.2B | ||
| Q4 24 | $13.4B | $6.5B | ||
| Q3 24 | $13.1B | $6.5B | ||
| Q2 24 | $14.1B | $5.9B |
负债/权益比HRLMAT
| Q1 26 | — | 1.11× | ||
| Q4 25 | 0.36× | 1.04× | ||
| Q3 25 | 0.35× | 1.03× | ||
| Q2 25 | 0.35× | 1.08× | ||
| Q1 25 | 0.36× | 1.10× | ||
| Q4 24 | 0.36× | 1.03× | ||
| Q3 24 | 0.36× | 1.01× | ||
| Q2 24 | 0.36× | 1.18× |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $231.4M | $-88.1M |
| 自由现金流率自由现金流/营收 | 7.3% | -10.2% |
| 资本支出强度资本支出/营收 | 2.9% | 7.6% |
| 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 | $534.3M | — |
8季度趋势，按日历期对齐
经营现金流HRLMAT
| Q1 26 | — | — | ||
| Q4 25 | $322.9M | $796.6M | ||
| Q3 25 | $156.7M | $72.0M | ||
| Q2 25 | $56.4M | $-300.1M | ||
| Q1 25 | $309.2M | $24.8M | ||
| Q4 24 | $408.6M | $862.1M | ||
| Q3 24 | $218.0M | $155.8M | ||
| Q2 24 | $236.1M | $-252.9M |
自由现金流HRLMAT
| Q1 26 | — | $-88.1M | ||
| Q4 25 | $231.4M | — | ||
| Q3 25 | $84.5M | — | ||
| Q2 25 | $-18.6M | — | ||
| Q1 25 | $237.0M | — | ||
| Q4 24 | $324.8M | — | ||
| Q3 24 | $152.5M | — | ||
| Q2 24 | $176.2M | — |
自由现金流率HRLMAT
| Q1 26 | — | -10.2% | ||
| Q4 25 | 7.3% | — | ||
| Q3 25 | 2.8% | — | ||
| Q2 25 | -0.6% | — | ||
| Q1 25 | 7.9% | — | ||
| Q4 24 | 10.4% | — | ||
| Q3 24 | 5.3% | — | ||
| Q2 24 | 6.1% | — |
资本支出强度HRLMAT
| Q1 26 | — | 7.6% | ||
| Q4 25 | 2.9% | — | ||
| Q3 25 | 2.4% | — | ||
| Q2 25 | 2.6% | — | ||
| Q1 25 | 2.4% | — | ||
| Q4 24 | 2.7% | — | ||
| Q3 24 | 2.3% | — | ||
| Q2 24 | 2.1% | — |
现金转化率HRLMAT
| Q1 26 | — | — | ||
| Q4 25 | — | 7.50× | ||
| Q3 25 | 0.85× | 0.26× | ||
| Q2 25 | 0.31× | -5.62× | ||
| Q1 25 | 1.81× | — | ||
| Q4 24 | 1.86× | 6.12× | ||
| Q3 24 | 1.23× | 0.42× | ||
| Q2 24 | 1.25× | -4.45× |
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% |
MAT
暂无分部数据
