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荷美尔食品（HRL）与NVR, Inc.（NVR）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NVR, Inc.的1.2倍（$3.2B vs $2.7B），NVR, Inc.净利率更高（13.4% vs -1.8%，领先15.2%），荷美尔食品同比增速更快（1.5% vs -4.7%），NVR, Inc.自由现金流更多（$436.0M vs $231.4M），过去两年NVR, Inc.的营收复合增速更高（7.8% 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。
NVR, Inc.是总部位于美国弗吉尼亚州雷斯顿的知名住宅建造企业，同时运营抵押贷款银行及产权服务相关业务。公司业务主要布局美国东海岸，覆盖14个州及华盛顿特区，2021年有22%的营收来自华盛顿大都会区。
HRL vs NVR — 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
HRL
高出6.2%
-4.7%
净利率更高
NVR
高出15.2%
-1.8%
自由现金流更多
NVR
多$204.6M
$231.4M
两年增速更快
NVR
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 | $363.8M |
| 毛利率 | 14.0% | — |
| 营业利润率 | 0.1% | — |
| 净利率 | -1.8% | 13.4% |
| 营收同比 | 1.5% | -4.7% |
| 净利润同比 | -125.5% | -20.5% |
| 每股收益（稀释后） | $-0.10 | $120.85 |
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HRLNVR
| Q4 25 | $3.2B | $2.7B | ||
| Q3 25 | $3.0B | $2.6B | ||
| Q2 25 | $2.9B | $2.6B | ||
| Q1 25 | $3.0B | $2.4B | ||
| Q4 24 | $3.1B | $2.8B | ||
| Q3 24 | $2.9B | $2.7B | ||
| Q2 24 | $2.9B | $2.6B | ||
| Q1 24 | $3.0B | $2.3B |
净利润HRLNVR
| Q4 25 | $-56.1M | $363.8M | ||
| Q3 25 | $183.7M | $342.7M | ||
| Q2 25 | $180.0M | $333.7M | ||
| Q1 25 | $170.6M | $299.6M | ||
| Q4 24 | $220.2M | $457.4M | ||
| Q3 24 | $176.7M | $429.3M | ||
| Q2 24 | $189.3M | $400.9M | ||
| Q1 24 | $218.9M | $394.3M |
毛利率HRLNVR
| 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HRLNVR
| Q4 25 | 0.1% | — | ||
| Q3 25 | 7.9% | — | ||
| Q2 25 | 8.6% | — | ||
| Q1 25 | 7.6% | — | ||
| Q4 24 | 9.4% | — | ||
| Q3 24 | 8.2% | — | ||
| Q2 24 | 8.7% | — | ||
| Q1 24 | 9.5% | — |
净利率HRLNVR
| Q4 25 | -1.8% | 13.4% | ||
| Q3 25 | 6.1% | 13.1% | ||
| Q2 25 | 6.2% | 12.8% | ||
| Q1 25 | 5.7% | 12.5% | ||
| Q4 24 | 7.0% | 16.1% | ||
| Q3 24 | 6.1% | 15.7% | ||
| Q2 24 | 6.6% | 15.3% | ||
| Q1 24 | 7.3% | 16.9% |
每股收益（稀释后）HRLNVR
| Q4 25 | $-0.10 | $120.85 | ||
| Q3 25 | $0.33 | $112.33 | ||
| Q2 25 | $0.33 | $108.54 | ||
| Q1 25 | $0.31 | $94.83 | ||
| Q4 24 | $0.41 | $139.09 | ||
| Q3 24 | $0.32 | $130.50 | ||
| Q2 24 | $0.34 | $120.69 | ||
| Q1 24 | $0.40 | $116.41 |
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 | — |
| 总债务越低越好 | $2.9B | — |
| 股东权益账面价值 | $7.9B | $3.9B |
| 总资产 | $13.4B | $5.9B |
| 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HRLNVR
| Q4 25 | $703.6M | — | ||
| Q3 25 | $630.7M | — | ||
| Q2 25 | $699.0M | — | ||
| Q1 25 | $866.4M | — | ||
| Q4 24 | $766.6M | — | ||
| Q3 24 | $561.9M | — | ||
| Q2 24 | $1.5B | — | ||
| Q1 24 | $981.9M | — |
总债务HRLNVR
| 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HRLNVR
| Q4 25 | $7.9B | $3.9B | ||
| Q3 25 | $8.1B | $4.0B | ||
| Q2 25 | $8.0B | $3.8B | ||
| Q1 25 | $8.0B | $4.0B | ||
| Q4 24 | $8.0B | $4.2B | ||
| Q3 24 | $7.9B | $4.3B | ||
| Q2 24 | $7.9B | $4.1B | ||
| Q1 24 | $7.8B | $4.3B |
总资产HRLNVR
| Q4 25 | $13.4B | $5.9B | ||
| Q3 25 | $13.5B | $6.0B | ||
| Q2 25 | $13.4B | $5.9B | ||
| Q1 25 | $13.4B | $6.2B | ||
| Q4 24 | $13.4B | $6.4B | ||
| Q3 24 | $13.1B | $6.5B | ||
| Q2 24 | $14.1B | $6.4B | ||
| Q1 24 | $13.5B | $6.5B |
负债/权益比HRLNVR
| 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 | $439.7M |
| 自由现金流经营现金流 - 资本支出 | $231.4M | $436.0M |
| 自由现金流率自由现金流/营收 | 7.3% | 16.1% |
| 资本支出强度资本支出/营收 | 2.9% | 0.1% |
| 现金转化率经营现金流/净利润 | — | 1.21× |
| 过去12个月自由现金流最近4个季度 | $534.3M | $1.1B |
8季度趋势，按日历期对齐
经营现金流HRLNVR
| Q4 25 | $322.9M | $439.7M | ||
| Q3 25 | $156.7M | $438.7M | ||
| Q2 25 | $56.4M | $35.1M | ||
| Q1 25 | $309.2M | $207.8M | ||
| Q4 24 | $408.6M | $637.0M | ||
| Q3 24 | $218.0M | $358.3M | ||
| Q2 24 | $236.1M | $232.7M | ||
| Q1 24 | $404.0M | $146.5M |
自由现金流HRLNVR
| Q4 25 | $231.4M | $436.0M | ||
| Q3 25 | $84.5M | $433.3M | ||
| Q2 25 | $-18.6M | $26.8M | ||
| Q1 25 | $237.0M | $200.7M | ||
| Q4 24 | $324.8M | $631.5M | ||
| Q3 24 | $152.5M | $350.1M | ||
| Q2 24 | $176.2M | $226.3M | ||
| Q1 24 | $356.8M | $137.5M |
自由现金流率HRLNVR
| Q4 25 | 7.3% | 16.1% | ||
| Q3 25 | 2.8% | 16.6% | ||
| Q2 25 | -0.6% | 1.0% | ||
| Q1 25 | 7.9% | 8.4% | ||
| Q4 24 | 10.4% | 22.2% | ||
| Q3 24 | 5.3% | 12.8% | ||
| Q2 24 | 6.1% | 8.7% | ||
| Q1 24 | 11.9% | 5.9% |
资本支出强度HRLNVR
| Q4 25 | 2.9% | 0.1% | ||
| Q3 25 | 2.4% | 0.2% | ||
| Q2 25 | 2.6% | 0.3% | ||
| Q1 25 | 2.4% | 0.3% | ||
| Q4 24 | 2.7% | 0.2% | ||
| Q3 24 | 2.3% | 0.3% | ||
| Q2 24 | 2.1% | 0.2% | ||
| Q1 24 | 1.6% | 0.4% |
现金转化率HRLNVR
| Q4 25 | — | 1.21× | ||
| Q3 25 | 0.85× | 1.28× | ||
| Q2 25 | 0.31× | 0.11× | ||
| Q1 25 | 1.81× | 0.69× | ||
| Q4 24 | 1.86× | 1.39× | ||
| Q3 24 | 1.23× | 0.83× | ||
| Q2 24 | 1.25× | 0.58× | ||
| Q1 24 | 1.85× | 0.37× |
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% |
NVR
| Home Building Segment | $2.6B | 97% |
| Mortgage Banking Segment | $77.4M | 3% |
