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荷美尔食品（HRL）与RESIDEO TECHNOLOGIES, INC.（REZI）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RESIDEO TECHNOLOGIES, INC.的1.7倍（$3.2B vs $1.9B），RESIDEO TECHNOLOGIES, INC.净利率更高（7.2% vs -1.8%，领先8.9%），RESIDEO TECHNOLOGIES, INC.同比增速更快（2.0% vs 1.5%），RESIDEO TECHNOLOGIES, INC.自由现金流更多（$262.0M vs $231.4M），过去两年RESIDEO TECHNOLOGIES, INC.的营收复合增速更高（12.9% 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。
Resideo Technologies是2018年从霍尼韦尔分拆成立的美国跨国企业，主营住宅场景的温控、空气质量调节、湿度控制及安防系统，业务覆盖美国及全球市场。公司下设产品、分销两大业务板块，生产销售温度照明控制、安防、水气监测等智能家居硬件及配套软件产品。
HRL vs REZI — 直观对比
营收规模更大
HRL
是对方的1.7倍
$1.9B
营收增速更快
REZI
高出0.5%
1.5%
净利率更高
REZI
高出8.9%
-1.8%
自由现金流更多
REZI
多$30.6M
$231.4M
两年增速更快
REZI
近两年复合增速
3.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.2B | $1.9B |
| 净利润 | $-56.1M | $136.0M |
| 毛利率 | 14.0% | 29.6% |
| 营业利润率 | 0.1% | 7.4% |
| 净利率 | -1.8% | 7.2% |
| 营收同比 | 1.5% | 2.0% |
| 净利润同比 | -125.5% | 491.3% |
| 每股收益（稀释后） | $-0.10 | $0.99 |
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HRLREZI
| Q4 25 | $3.2B | $1.9B | ||
| Q3 25 | $3.0B | $1.9B | ||
| Q2 25 | $2.9B | $1.9B | ||
| Q1 25 | $3.0B | $1.8B | ||
| Q4 24 | $3.1B | $1.9B | ||
| Q3 24 | $2.9B | $1.8B | ||
| Q2 24 | $2.9B | $1.6B | ||
| Q1 24 | $3.0B | $1.5B |
净利润HRLREZI
| Q4 25 | $-56.1M | $136.0M | ||
| Q3 25 | $183.7M | $156.0M | ||
| Q2 25 | $180.0M | $-825.0M | ||
| Q1 25 | $170.6M | $6.0M | ||
| Q4 24 | $220.2M | $23.0M | ||
| Q3 24 | $176.7M | $20.0M | ||
| Q2 24 | $189.3M | $30.0M | ||
| Q1 24 | $218.9M | $43.0M |
毛利率HRLREZI
| Q4 25 | 14.0% | 29.6% | ||
| Q3 25 | 16.1% | 29.8% | ||
| Q2 25 | 16.7% | 29.3% | ||
| Q1 25 | 15.9% | 28.9% | ||
| Q4 24 | 16.6% | 28.5% | ||
| Q3 24 | 16.8% | 28.7% | ||
| Q2 24 | 17.4% | 28.1% | ||
| Q1 24 | 17.0% | 26.9% |
营业利润率HRLREZI
| Q4 25 | 0.1% | 7.4% | ||
| Q3 25 | 7.9% | 8.3% | ||
| Q2 25 | 8.6% | 9.1% | ||
| Q1 25 | 7.6% | 7.7% | ||
| Q4 24 | 9.4% | 7.8% | ||
| Q3 24 | 8.2% | 6.9% | ||
| Q2 24 | 8.7% | 7.7% | ||
| Q1 24 | 9.5% | 8.6% |
净利率HRLREZI
| Q4 25 | -1.8% | 7.2% | ||
| Q3 25 | 6.1% | 8.4% | ||
| Q2 25 | 6.2% | -42.5% | ||
| Q1 25 | 5.7% | 0.3% | ||
| Q4 24 | 7.0% | 1.2% | ||
| Q3 24 | 6.1% | 1.1% | ||
| Q2 24 | 6.6% | 1.9% | ||
| Q1 24 | 7.3% | 2.9% |
每股收益（稀释后）HRLREZI
| Q4 25 | $-0.10 | $0.99 | ||
| Q3 25 | $0.33 | $0.85 | ||
| Q2 25 | $0.33 | $-5.59 | ||
| Q1 25 | $0.31 | $-0.02 | ||
| Q4 24 | $0.41 | $0.06 | ||
| Q3 24 | $0.32 | $0.07 | ||
| Q2 24 | $0.34 | $0.19 | ||
| Q1 24 | $0.40 | $0.29 |
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 | $661.0M |
| 总债务越低越好 | $2.9B | $3.2B |
| 股东权益账面价值 | $7.9B | $2.9B |
| 总资产 | $13.4B | $8.4B |
| 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HRLREZI
| Q4 25 | $703.6M | $661.0M | ||
| Q3 25 | $630.7M | $345.0M | ||
| Q2 25 | $699.0M | $753.0M | ||
| Q1 25 | $866.4M | $577.0M | ||
| Q4 24 | $766.6M | $692.0M | ||
| Q3 24 | $561.9M | $531.0M | ||
| Q2 24 | $1.5B | $413.0M | ||
| Q1 24 | $981.9M | $603.0M |
总债务HRLREZI
| Q4 25 | $2.9B | $3.2B | ||
| Q3 25 | $2.9B | $3.2B | ||
| Q2 25 | $2.9B | $2.0B | ||
| Q1 25 | $2.9B | $2.0B | ||
| Q4 24 | $2.9B | $2.0B | ||
| Q3 24 | $2.9B | $2.0B | ||
| Q2 24 | $2.9B | $2.0B | ||
| Q1 24 | $2.4B | $1.4B |
股东权益HRLREZI
| Q4 25 | $7.9B | $2.9B | ||
| Q3 25 | $8.1B | $2.8B | ||
| Q2 25 | $8.0B | $2.6B | ||
| Q1 25 | $8.0B | $3.3B | ||
| Q4 24 | $8.0B | $3.3B | ||
| Q3 24 | $7.9B | $3.4B | ||
| Q2 24 | $7.9B | $3.3B | ||
| Q1 24 | $7.8B | $2.8B |
总资产HRLREZI
| Q4 25 | $13.4B | $8.4B | ||
| Q3 25 | $13.5B | $8.2B | ||
| Q2 25 | $13.4B | $8.5B | ||
| Q1 25 | $13.4B | $8.1B | ||
| Q4 24 | $13.4B | $8.2B | ||
| Q3 24 | $13.1B | $8.1B | ||
| Q2 24 | $14.1B | $8.0B | ||
| Q1 24 | $13.5B | $6.5B |
负债/权益比HRLREZI
| Q4 25 | 0.36× | 1.11× | ||
| Q3 25 | 0.35× | 1.17× | ||
| Q2 25 | 0.35× | 0.77× | ||
| Q1 25 | 0.36× | 0.60× | ||
| Q4 24 | 0.36× | 0.61× | ||
| Q3 24 | 0.36× | 0.60× | ||
| Q2 24 | 0.36× | 0.61× | ||
| Q1 24 | 0.30× | 0.51× |
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 | $299.0M |
| 自由现金流经营现金流 - 资本支出 | $231.4M | $262.0M |
| 自由现金流率自由现金流/营收 | 7.3% | 13.8% |
| 资本支出强度资本支出/营收 | 2.9% | 2.0% |
| 现金转化率经营现金流/净利润 | — | 2.20× |
| 过去12个月自由现金流最近4个季度 | $534.3M | $-1.3B |
8季度趋势，按日历期对齐
经营现金流HRLREZI
| Q4 25 | $322.9M | $299.0M | ||
| Q3 25 | $156.7M | $-1.6B | ||
| Q2 25 | $56.4M | $200.0M | ||
| Q1 25 | $309.2M | $-65.0M | ||
| Q4 24 | $408.6M | $203.0M | ||
| Q3 24 | $218.0M | $147.0M | ||
| Q2 24 | $236.1M | $92.0M | ||
| Q1 24 | $404.0M | $2.0M |
自由现金流HRLREZI
| Q4 25 | $231.4M | $262.0M | ||
| Q3 25 | $84.5M | $-1.6B | ||
| Q2 25 | $-18.6M | $180.0M | ||
| Q1 25 | $237.0M | $-96.0M | ||
| Q4 24 | $324.8M | $181.0M | ||
| Q3 24 | $152.5M | $125.0M | ||
| Q2 24 | $176.2M | $77.0M | ||
| Q1 24 | $356.8M | $-19.0M |
自由现金流率HRLREZI
| Q4 25 | 7.3% | 13.8% | ||
| Q3 25 | 2.8% | -85.8% | ||
| Q2 25 | -0.6% | 9.3% | ||
| Q1 25 | 7.9% | -5.4% | ||
| Q4 24 | 10.4% | 9.7% | ||
| Q3 24 | 5.3% | 6.8% | ||
| Q2 24 | 6.1% | 4.8% | ||
| Q1 24 | 11.9% | -1.3% |
资本支出强度HRLREZI
| Q4 25 | 2.9% | 2.0% | ||
| Q3 25 | 2.4% | 1.5% | ||
| Q2 25 | 2.6% | 1.0% | ||
| Q1 25 | 2.4% | 1.8% | ||
| Q4 24 | 2.7% | 1.2% | ||
| Q3 24 | 2.3% | 1.2% | ||
| Q2 24 | 2.1% | 0.9% | ||
| Q1 24 | 1.6% | 1.4% |
现金转化率HRLREZI
| Q4 25 | — | 2.20× | ||
| Q3 25 | 0.85× | -10.07× | ||
| Q2 25 | 0.31× | — | ||
| Q1 25 | 1.81× | -10.83× | ||
| Q4 24 | 1.86× | 8.83× | ||
| Q3 24 | 1.23× | 7.35× | ||
| Q2 24 | 1.25× | 3.07× | ||
| Q1 24 | 1.85× | 0.05× |
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% |
REZI
| ADI Global Distribution Segment | $1.2B | 62% |
| Safety And Security | $257.0M | 14% |
| Air | $211.0M | 11% |
| Energy Service | $153.0M | 8% |
| Public Utilities Inventory Water | $91.0M | 5% |
