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荷美尔食品（HRL）与ServiceNow（NOW）财务数据对比。点击上方公司名可切换其他公司
ServiceNow的季度营收约是荷美尔食品的1.2倍（$3.8B vs $3.2B），ServiceNow净利率更高（12.4% vs -1.8%，领先14.2%），ServiceNow同比增速更快（2.8% vs 1.5%），ServiceNow自由现金流更多（$1.7B vs $231.4M），过去两年ServiceNow的营收复合增速更高（19.8% 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。
ServiceNow是2003年由弗雷德·卢迪在美国加利福尼亚州圣克拉拉创立的软件企业，主打云计算平台产品，可支持企业搭建及管理自动化业务工作流。公司于纽交所上市，现为标普100及标普500指数成分股。
HRL vs NOW — 直观对比
营收规模更大
NOW
是对方的1.2倍
$3.2B
营收增速更快
NOW
高出1.3%
1.5%
净利率更高
NOW
高出14.2%
-1.8%
自由现金流更多
NOW
多$1.4B
$231.4M
两年增速更快
NOW
近两年复合增速
3.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.2B | $3.8B |
| 净利润 | $-56.1M | $469.0M |
| 毛利率 | 14.0% | 75.1% |
| 营业利润率 | 0.1% | 13.3% |
| 净利率 | -1.8% | 12.4% |
| 营收同比 | 1.5% | 2.8% |
| 净利润同比 | -125.5% | -53.7% |
| 每股收益（稀释后） | $-0.10 | $1.04 |
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HRLNOW
| Q1 26 | — | $3.8B | ||
| Q4 25 | $3.2B | $3.6B | ||
| Q3 25 | $3.0B | $3.4B | ||
| Q2 25 | $2.9B | $3.2B | ||
| Q1 25 | $3.0B | $3.1B | ||
| Q4 24 | $3.1B | $3.0B | ||
| Q3 24 | $2.9B | $2.8B | ||
| Q2 24 | $2.9B | $2.6B |
净利润HRLNOW
| Q1 26 | — | $469.0M | ||
| Q4 25 | $-56.1M | $401.0M | ||
| Q3 25 | $183.7M | $502.0M | ||
| Q2 25 | $180.0M | $385.0M | ||
| Q1 25 | $170.6M | $460.0M | ||
| Q4 24 | $220.2M | $384.0M | ||
| Q3 24 | $176.7M | $432.0M | ||
| Q2 24 | $189.3M | $262.0M |
毛利率HRLNOW
| Q1 26 | — | 75.1% | ||
| Q4 25 | 14.0% | 76.6% | ||
| Q3 25 | 16.1% | 77.3% | ||
| Q2 25 | 16.7% | 77.5% | ||
| Q1 25 | 15.9% | 78.9% | ||
| Q4 24 | 16.6% | 78.7% | ||
| Q3 24 | 16.8% | 79.1% | ||
| Q2 24 | 17.4% | 79.0% |
营业利润率HRLNOW
| Q1 26 | — | 13.3% | ||
| Q4 25 | 0.1% | 12.4% | ||
| Q3 25 | 7.9% | 16.8% | ||
| Q2 25 | 8.6% | 11.1% | ||
| Q1 25 | 7.6% | 14.6% | ||
| Q4 24 | 9.4% | 12.6% | ||
| Q3 24 | 8.2% | 14.9% | ||
| Q2 24 | 8.7% | 9.1% |
净利率HRLNOW
| Q1 26 | — | 12.4% | ||
| Q4 25 | -1.8% | 11.2% | ||
| Q3 25 | 6.1% | 14.7% | ||
| Q2 25 | 6.2% | 12.0% | ||
| Q1 25 | 5.7% | 14.9% | ||
| Q4 24 | 7.0% | 13.0% | ||
| Q3 24 | 6.1% | 15.4% | ||
| Q2 24 | 6.6% | 10.0% |
每股收益（稀释后）HRLNOW
| Q1 26 | — | $1.04 | ||
| Q4 25 | $-0.10 | $-4.77 | ||
| Q3 25 | $0.33 | $2.40 | ||
| Q2 25 | $0.33 | $1.84 | ||
| Q1 25 | $0.31 | $2.20 | ||
| Q4 24 | $0.41 | $1.84 | ||
| Q3 24 | $0.32 | $2.07 | ||
| Q2 24 | $0.34 | $1.26 |
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 | $2.7B |
| 总债务越低越好 | $2.9B | — |
| 股东权益账面价值 | $7.9B | $11.7B |
| 总资产 | $13.4B | $24.4B |
| 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HRLNOW
| Q1 26 | — | $2.7B | ||
| Q4 25 | $703.6M | $3.7B | ||
| Q3 25 | $630.7M | $2.7B | ||
| Q2 25 | $699.0M | $3.1B | ||
| Q1 25 | $866.4M | $3.4B | ||
| Q4 24 | $766.6M | $2.3B | ||
| Q3 24 | $561.9M | $1.9B | ||
| Q2 24 | $1.5B | $2.2B |
总债务HRLNOW
| Q1 26 | — | — | ||
| 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 | — |
股东权益HRLNOW
| Q1 26 | — | $11.7B | ||
| Q4 25 | $7.9B | $13.0B | ||
| Q3 25 | $8.1B | $11.3B | ||
| Q2 25 | $8.0B | $10.9B | ||
| Q1 25 | $8.0B | $10.1B | ||
| Q4 24 | $8.0B | $9.6B | ||
| Q3 24 | $7.9B | $9.3B | ||
| Q2 24 | $7.9B | $8.7B |
总资产HRLNOW
| Q1 26 | — | $24.4B | ||
| Q4 25 | $13.4B | $26.0B | ||
| Q3 25 | $13.5B | $21.8B | ||
| Q2 25 | $13.4B | $22.1B | ||
| Q1 25 | $13.4B | $21.0B | ||
| Q4 24 | $13.4B | $20.4B | ||
| Q3 24 | $13.1B | $18.4B | ||
| Q2 24 | $14.1B | $18.2B |
负债/权益比HRLNOW
| Q1 26 | — | — | ||
| 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× | — |
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 | $1.7B |
| 自由现金流经营现金流 - 资本支出 | $231.4M | $1.7B |
| 自由现金流率自由现金流/营收 | 7.3% | 44.2% |
| 资本支出强度资本支出/营收 | 2.9% | — |
| 现金转化率经营现金流/净利润 | — | 3.56× |
| 过去12个月自由现金流最近4个季度 | $534.3M | $4.8B |
8季度趋势，按日历期对齐
经营现金流HRLNOW
| Q1 26 | — | $1.7B | ||
| Q4 25 | $322.9M | $2.2B | ||
| Q3 25 | $156.7M | $813.0M | ||
| Q2 25 | $56.4M | $716.0M | ||
| Q1 25 | $309.2M | $1.7B | ||
| Q4 24 | $408.6M | $1.6B | ||
| Q3 24 | $218.0M | $671.0M | ||
| Q2 24 | $236.1M | $620.0M |
自由现金流HRLNOW
| Q1 26 | — | $1.7B | ||
| Q4 25 | $231.4M | $2.0B | ||
| Q3 25 | $84.5M | $578.0M | ||
| Q2 25 | $-18.6M | $526.0M | ||
| Q1 25 | $237.0M | $1.5B | ||
| Q4 24 | $324.8M | $1.4B | ||
| Q3 24 | $152.5M | $469.0M | ||
| Q2 24 | $176.2M | $358.0M |
自由现金流率HRLNOW
| Q1 26 | — | 44.2% | ||
| Q4 25 | 7.3% | 56.1% | ||
| Q3 25 | 2.8% | 17.0% | ||
| Q2 25 | -0.6% | 16.4% | ||
| Q1 25 | 7.9% | 47.7% | ||
| Q4 24 | 10.4% | 46.7% | ||
| Q3 24 | 5.3% | 16.8% | ||
| Q2 24 | 6.1% | 13.6% |
资本支出强度HRLNOW
| Q1 26 | — | — | ||
| Q4 25 | 2.9% | 6.7% | ||
| Q3 25 | 2.4% | 6.9% | ||
| Q2 25 | 2.6% | 5.9% | ||
| Q1 25 | 2.4% | 6.6% | ||
| Q4 24 | 2.7% | 8.6% | ||
| Q3 24 | 2.3% | 7.2% | ||
| Q2 24 | 2.1% | 10.0% |
现金转化率HRLNOW
| Q1 26 | — | 3.56× | ||
| Q4 25 | — | 5.58× | ||
| Q3 25 | 0.85× | 1.62× | ||
| Q2 25 | 0.31× | 1.86× | ||
| Q1 25 | 1.81× | 3.65× | ||
| Q4 24 | 1.86× | 4.26× | ||
| Q3 24 | 1.23× | 1.55× | ||
| Q2 24 | 1.25× | 2.37× |
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% |
NOW
| Subscription revenues | $3.7B | 97% |
| Other | $80.5M | 2% |
| Professional services and other revenues | $18.5M | 0% |
