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荷美尔食品（HRL）与RUSH ENTERPRISES INC \TX\（RUSHA）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RUSH ENTERPRISES INC \TX\的1.9倍（$3.2B vs $1.7B），RUSH ENTERPRISES INC \TX\净利率更高（3.7% vs -1.8%，领先5.4%），荷美尔食品同比增速更快（1.5% vs -9.0%），RUSH ENTERPRISES INC \TX\自由现金流更多（$411.6M vs $231.4M），过去两年荷美尔食品的营收复合增速更高（3.1% vs -6.8%）
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。
Rush Enterprises是总部位于美国得克萨斯州新布朗费尔斯的商用车经销商，核心业务是通过旗下Rush Truck Centers销售全新及二手卡车。2019年该公司在全美20个州运营超200家卡车中心，在加拿大设有14个网点，2020年入选财富500强榜单。
HRL vs RUSHA — 直观对比
营收规模更大
HRL
是对方的1.9倍
$1.7B
营收增速更快
HRL
高出10.5%
-9.0%
净利率更高
RUSHA
高出5.4%
-1.8%
自由现金流更多
RUSHA
多$180.1M
$231.4M
两年增速更快
HRL
近两年复合增速
-6.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.2B | $1.7B |
| 净利润 | $-56.1M | $61.7M |
| 毛利率 | 14.0% | 20.4% |
| 营业利润率 | 0.1% | 4.9% |
| 净利率 | -1.8% | 3.7% |
| 营收同比 | 1.5% | -9.0% |
| 净利润同比 | -125.5% | 1.8% |
| 每股收益（稀释后） | $-0.10 | $0.77 |
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HRLRUSHA
| Q1 26 | — | $1.7B | ||
| Q4 25 | $3.2B | $1.7B | ||
| Q3 25 | $3.0B | $1.8B | ||
| Q2 25 | $2.9B | $1.8B | ||
| Q1 25 | $3.0B | $1.8B | ||
| Q4 24 | $3.1B | $1.9B | ||
| Q3 24 | $2.9B | $1.8B | ||
| Q2 24 | $2.9B | $1.9B |
净利润HRLRUSHA
| Q1 26 | — | $61.7M | ||
| Q4 25 | $-56.1M | $64.3M | ||
| Q3 25 | $183.7M | $66.7M | ||
| Q2 25 | $180.0M | $72.4M | ||
| Q1 25 | $170.6M | $60.3M | ||
| Q4 24 | $220.2M | $74.8M | ||
| Q3 24 | $176.7M | $79.1M | ||
| Q2 24 | $189.3M | $78.7M |
毛利率HRLRUSHA
| Q1 26 | — | 20.4% | ||
| Q4 25 | 14.0% | 20.8% | ||
| Q3 25 | 16.1% | 21.0% | ||
| Q2 25 | 16.7% | 20.7% | ||
| Q1 25 | 15.9% | 20.3% | ||
| Q4 24 | 16.6% | 19.3% | ||
| Q3 24 | 16.8% | 21.0% | ||
| Q2 24 | 17.4% | 20.2% |
营业利润率HRLRUSHA
| Q1 26 | — | 4.9% | ||
| Q4 25 | 0.1% | 5.5% | ||
| Q3 25 | 7.9% | 5.6% | ||
| Q2 25 | 8.6% | 6.0% | ||
| Q1 25 | 7.6% | 5.2% | ||
| Q4 24 | 9.4% | 5.8% | ||
| Q3 24 | 8.2% | 6.7% | ||
| Q2 24 | 8.7% | 6.4% |
净利率HRLRUSHA
| Q1 26 | — | 3.7% | ||
| Q4 25 | -1.8% | 3.8% | ||
| Q3 25 | 6.1% | 3.7% | ||
| Q2 25 | 6.2% | 3.9% | ||
| Q1 25 | 5.7% | 3.4% | ||
| Q4 24 | 7.0% | 3.9% | ||
| Q3 24 | 6.1% | 4.4% | ||
| Q2 24 | 6.6% | 4.1% |
每股收益（稀释后）HRLRUSHA
| Q1 26 | — | $0.77 | ||
| Q4 25 | $-0.10 | $0.81 | ||
| Q3 25 | $0.33 | $0.83 | ||
| Q2 25 | $0.33 | $0.90 | ||
| Q1 25 | $0.31 | $0.73 | ||
| Q4 24 | $0.41 | $-95.13 | ||
| Q3 24 | $0.32 | $0.97 | ||
| Q2 24 | $0.34 | $97.00 |
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 | $277.8M |
| 股东权益账面价值 | $7.9B | $2.3B |
| 总资产 | $13.4B | $4.5B |
| 负债/权益比越低杠杆越低 | 0.36× | 0.12× |
8季度趋势，按日历期对齐
现金及短期投资HRLRUSHA
| Q1 26 | — | — | ||
| Q4 25 | $703.6M | $212.6M | ||
| Q3 25 | $630.7M | $242.0M | ||
| Q2 25 | $699.0M | $211.1M | ||
| Q1 25 | $866.4M | $228.7M | ||
| Q4 24 | $766.6M | $228.1M | ||
| Q3 24 | $561.9M | $185.1M | ||
| Q2 24 | $1.5B | $167.3M |
总债务HRLRUSHA
| Q1 26 | — | $277.8M | ||
| Q4 25 | $2.9B | $274.8M | ||
| Q3 25 | $2.9B | — | ||
| Q2 25 | $2.9B | — | ||
| Q1 25 | $2.9B | — | ||
| Q4 24 | $2.9B | $408.4M | ||
| Q3 24 | $2.9B | — | ||
| Q2 24 | $2.9B | — |
股东权益HRLRUSHA
| Q1 26 | — | $2.3B | ||
| Q4 25 | $7.9B | $2.2B | ||
| Q3 25 | $8.1B | $2.2B | ||
| Q2 25 | $8.0B | $2.2B | ||
| Q1 25 | $8.0B | $2.2B | ||
| Q4 24 | $8.0B | $2.1B | ||
| Q3 24 | $7.9B | $2.1B | ||
| Q2 24 | $7.9B | $2.0B |
总资产HRLRUSHA
| Q1 26 | — | $4.5B | ||
| Q4 25 | $13.4B | $4.4B | ||
| Q3 25 | $13.5B | $4.6B | ||
| Q2 25 | $13.4B | $4.7B | ||
| Q1 25 | $13.4B | $4.7B | ||
| Q4 24 | $13.4B | $4.6B | ||
| Q3 24 | $13.1B | $4.6B | ||
| Q2 24 | $14.1B | $4.5B |
负债/权益比HRLRUSHA
| Q1 26 | — | 0.12× | ||
| Q4 25 | 0.36× | 0.12× | ||
| Q3 25 | 0.35× | — | ||
| Q2 25 | 0.35× | — | ||
| Q1 25 | 0.36× | — | ||
| Q4 24 | 0.36× | 0.19× | ||
| 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 | — |
| 自由现金流经营现金流 - 资本支出 | $231.4M | $411.6M |
| 自由现金流率自由现金流/营收 | 7.3% | 24.4% |
| 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 | — | — |
| 过去12个月自由现金流最近4个季度 | $534.3M | $828.4M |
8季度趋势，按日历期对齐
经营现金流HRLRUSHA
| Q1 26 | — | — | ||
| Q4 25 | $322.9M | $112.9M | ||
| Q3 25 | $156.7M | $367.8M | ||
| Q2 25 | $56.4M | $227.6M | ||
| Q1 25 | $309.2M | $153.5M | ||
| Q4 24 | $408.6M | $392.3M | ||
| Q3 24 | $218.0M | $111.7M | ||
| Q2 24 | $236.1M | $270.6M |
自由现金流HRLRUSHA
| Q1 26 | — | $411.6M | ||
| Q4 25 | $231.4M | $31.9M | ||
| Q3 25 | $84.5M | $271.2M | ||
| Q2 25 | $-18.6M | $113.8M | ||
| Q1 25 | $237.0M | $45.1M | ||
| Q4 24 | $324.8M | $263.5M | ||
| Q3 24 | $152.5M | $-20.0M | ||
| Q2 24 | $176.2M | $177.2M |
自由现金流率HRLRUSHA
| Q1 26 | — | 24.4% | ||
| Q4 25 | 7.3% | 1.9% | ||
| Q3 25 | 2.8% | 15.2% | ||
| Q2 25 | -0.6% | 6.2% | ||
| Q1 25 | 7.9% | 2.6% | ||
| Q4 24 | 10.4% | 13.7% | ||
| Q3 24 | 5.3% | -1.1% | ||
| Q2 24 | 6.1% | 9.1% |
资本支出强度HRLRUSHA
| Q1 26 | — | 2.0% | ||
| Q4 25 | 2.9% | 4.8% | ||
| Q3 25 | 2.4% | 5.4% | ||
| Q2 25 | 2.6% | 6.2% | ||
| Q1 25 | 2.4% | 6.2% | ||
| Q4 24 | 2.7% | 6.7% | ||
| Q3 24 | 2.3% | 7.3% | ||
| Q2 24 | 2.1% | 4.8% |
现金转化率HRLRUSHA
| Q1 26 | — | — | ||
| Q4 25 | — | 1.75× | ||
| Q3 25 | 0.85× | 5.51× | ||
| Q2 25 | 0.31× | 3.14× | ||
| Q1 25 | 1.81× | 2.55× | ||
| Q4 24 | 1.86× | 5.25× | ||
| Q3 24 | 1.23× | 1.41× | ||
| Q2 24 | 1.25× | 3.44× |
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% |
RUSHA
| New and used commercial vehicle sales | $955.1M | 57% |
| Aftermarket products and services sales | $627.2M | 37% |
| Lease and rental sales | $92.3M | 5% |
| Finance and insurance | $5.6M | 0% |
