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荷美尔食品（HRL）与PVH CORP.（PVH）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PVH CORP.的1.4倍（$3.2B vs $2.3B），PVH CORP.净利率更高（0.2% vs -1.8%，领先1.9%），PVH CORP.同比增速更快（1.7% vs 1.5%），荷美尔食品自由现金流更多（$231.4M vs $-85.1M）
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。
PVH集团是源自美国的知名服饰企业，前身为Phillips-Van Heusen公司，旗下拥有Tommy Hilfiger、Calvin Klein等标志性时尚品牌，同时还获得Kenneth Cole New York、Michael Kors等品牌的授权经营许可，在全球服饰消费市场拥有广泛影响力。
HRL vs PVH — 直观对比
营收规模更大
HRL
是对方的1.4倍
$2.3B
营收增速更快
PVH
高出0.2%
1.5%
净利率更高
PVH
高出1.9%
-1.8%
自由现金流更多
HRL
多$316.5M
$-85.1M
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.2B | $2.3B |
| 净利润 | $-56.1M | $4.2M |
| 毛利率 | 14.0% | 56.3% |
| 营业利润率 | 0.1% | 7.9% |
| 净利率 | -1.8% | 0.2% |
| 营收同比 | 1.5% | 1.7% |
| 净利润同比 | -125.5% | -96.8% |
| 每股收益（稀释后） | $-0.10 | $0.09 |
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HRLPVH
| Q4 25 | $3.2B | $2.3B | ||
| Q3 25 | $3.0B | $2.2B | ||
| Q2 25 | $2.9B | $2.0B | ||
| Q1 25 | $3.0B | — | ||
| Q4 24 | $3.1B | — | ||
| Q3 24 | $2.9B | — | ||
| Q2 24 | $2.9B | — | ||
| Q1 24 | $3.0B | — |
净利润HRLPVH
| Q4 25 | $-56.1M | $4.2M | ||
| Q3 25 | $183.7M | $224.2M | ||
| Q2 25 | $180.0M | $-44.8M | ||
| Q1 25 | $170.6M | — | ||
| Q4 24 | $220.2M | — | ||
| Q3 24 | $176.7M | — | ||
| Q2 24 | $189.3M | — | ||
| Q1 24 | $218.9M | — |
毛利率HRLPVH
| Q4 25 | 14.0% | 56.3% | ||
| Q3 25 | 16.1% | 57.7% | ||
| Q2 25 | 16.7% | 58.6% | ||
| 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HRLPVH
| Q4 25 | 0.1% | 7.9% | ||
| Q3 25 | 7.9% | 6.1% | ||
| Q2 25 | 8.6% | -16.7% | ||
| Q1 25 | 7.6% | — | ||
| Q4 24 | 9.4% | — | ||
| Q3 24 | 8.2% | — | ||
| Q2 24 | 8.7% | — | ||
| Q1 24 | 9.5% | — |
净利率HRLPVH
| Q4 25 | -1.8% | 0.2% | ||
| Q3 25 | 6.1% | 10.3% | ||
| Q2 25 | 6.2% | -2.3% | ||
| Q1 25 | 5.7% | — | ||
| Q4 24 | 7.0% | — | ||
| Q3 24 | 6.1% | — | ||
| Q2 24 | 6.6% | — | ||
| Q1 24 | 7.3% | — |
每股收益（稀释后）HRLPVH
| Q4 25 | $-0.10 | $0.09 | ||
| Q3 25 | $0.33 | $4.63 | ||
| Q2 25 | $0.33 | $-0.88 | ||
| 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 | $158.2M |
| 总债务越低越好 | $2.9B | $2.3B |
| 股东权益账面价值 | $7.9B | $4.9B |
| 总资产 | $13.4B | $11.4B |
| 负债/权益比越低杠杆越低 | 0.36× | 0.46× |
8季度趋势，按日历期对齐
现金及短期投资HRLPVH
| Q4 25 | $703.6M | $158.2M | ||
| Q3 25 | $630.7M | $248.8M | ||
| Q2 25 | $699.0M | $191.0M | ||
| Q1 25 | $866.4M | — | ||
| Q4 24 | $766.6M | — | ||
| Q3 24 | $561.9M | — | ||
| Q2 24 | $1.5B | — | ||
| Q1 24 | $981.9M | — |
总债务HRLPVH
| Q4 25 | $2.9B | $2.3B | ||
| Q3 25 | $2.9B | $2.3B | ||
| Q2 25 | $2.9B | $2.2B | ||
| Q1 25 | $2.9B | — | ||
| Q4 24 | $2.9B | — | ||
| Q3 24 | $2.9B | — | ||
| Q2 24 | $2.9B | — | ||
| Q1 24 | $2.4B | — |
股东权益HRLPVH
| Q4 25 | $7.9B | $4.9B | ||
| Q3 25 | $8.1B | $4.9B | ||
| Q2 25 | $8.0B | $4.6B | ||
| Q1 25 | $8.0B | — | ||
| Q4 24 | $8.0B | — | ||
| Q3 24 | $7.9B | — | ||
| Q2 24 | $7.9B | — | ||
| Q1 24 | $7.8B | — |
总资产HRLPVH
| Q4 25 | $13.4B | $11.4B | ||
| Q3 25 | $13.5B | $11.6B | ||
| Q2 25 | $13.4B | $10.7B | ||
| Q1 25 | $13.4B | — | ||
| Q4 24 | $13.4B | — | ||
| Q3 24 | $13.1B | — | ||
| Q2 24 | $14.1B | — | ||
| Q1 24 | $13.5B | — |
负债/权益比HRLPVH
| Q4 25 | 0.36× | 0.46× | ||
| Q3 25 | 0.35× | 0.47× | ||
| Q2 25 | 0.35× | 0.48× | ||
| 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 | $-44.5M |
| 自由现金流经营现金流 - 资本支出 | $231.4M | $-85.1M |
| 自由现金流率自由现金流/营收 | 7.3% | -3.7% |
| 资本支出强度资本支出/营收 | 2.9% | 1.8% |
| 现金转化率经营现金流/净利润 | — | -10.60× |
| 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HRLPVH
| Q4 25 | $322.9M | $-44.5M | ||
| Q3 25 | $156.7M | $213.1M | ||
| Q2 25 | $56.4M | $-71.4M | ||
| Q1 25 | $309.2M | — | ||
| Q4 24 | $408.6M | — | ||
| Q3 24 | $218.0M | — | ||
| Q2 24 | $236.1M | — | ||
| Q1 24 | $404.0M | — |
自由现金流HRLPVH
| Q4 25 | $231.4M | $-85.1M | ||
| Q3 25 | $84.5M | $181.9M | ||
| Q2 25 | $-18.6M | $-98.1M | ||
| Q1 25 | $237.0M | — | ||
| Q4 24 | $324.8M | — | ||
| Q3 24 | $152.5M | — | ||
| Q2 24 | $176.2M | — | ||
| Q1 24 | $356.8M | — |
自由现金流率HRLPVH
| Q4 25 | 7.3% | -3.7% | ||
| Q3 25 | 2.8% | 8.4% | ||
| Q2 25 | -0.6% | -4.9% | ||
| Q1 25 | 7.9% | — | ||
| Q4 24 | 10.4% | — | ||
| Q3 24 | 5.3% | — | ||
| Q2 24 | 6.1% | — | ||
| Q1 24 | 11.9% | — |
资本支出强度HRLPVH
| Q4 25 | 2.9% | 1.8% | ||
| Q3 25 | 2.4% | 1.4% | ||
| Q2 25 | 2.6% | 1.3% | ||
| Q1 25 | 2.4% | — | ||
| Q4 24 | 2.7% | — | ||
| Q3 24 | 2.3% | — | ||
| Q2 24 | 2.1% | — | ||
| Q1 24 | 1.6% | — |
现金转化率HRLPVH
| Q4 25 | — | -10.60× | ||
| Q3 25 | 0.85× | 0.95× | ||
| Q2 25 | 0.31× | — | ||
| Q1 25 | 1.81× | — | ||
| Q4 24 | 1.86× | — | ||
| Q3 24 | 1.23× | — | ||
| 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% |
PVH
| Sales Channel Salesto Wholesale Customers | $1.0B | 44% |
| Sales Channel Sales To Owned And Operated Retail Customers | $868.0M | 38% |
| Sales Channel Sales To Owned And Operated Digital Retail Customers | $186.6M | 8% |
| Licensing | $99.5M | 4% |
| Other | $75.8M | 3% |
| Heritage Brands | $51.3M | 2% |
