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荷美尔食品（HRL）与Toll Brothers, Inc.（TOL）财务数据对比。点击上方公司名可切换其他公司
Toll Brothers, Inc.的季度营收约是荷美尔食品的1.1倍（$3.4B vs $3.2B），Toll Brothers, Inc.净利率更高（13.0% vs -1.8%，领先14.8%），Toll Brothers, Inc.同比增速更快（2.7% vs 1.5%），Toll Brothers, Inc.自由现金流更多（$772.2M vs $231.4M），过去两年Toll Brothers, Inc.的营收复合增速更高（32.6% 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。
Toll Brothers, Inc.是美国知名住宅建造企业，业务涵盖美国境内住宅及商业地产的开发、营销与融资服务。2020年按住宅建造营收统计，该公司为全美第五大房屋建造商，位列《财富》美国500强第411位。
HRL vs TOL — 直观对比
营收规模更大
TOL
是对方的1.1倍
$3.2B
营收增速更快
TOL
高出1.2%
1.5%
净利率更高
TOL
高出14.8%
-1.8%
自由现金流更多
TOL
多$540.8M
$231.4M
两年增速更快
TOL
近两年复合增速
3.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.2B | $3.4B |
| 净利润 | $-56.1M | $446.7M |
| 毛利率 | 14.0% | 24.8% |
| 营业利润率 | 0.1% | 16.5% |
| 净利率 | -1.8% | 13.0% |
| 营收同比 | 1.5% | 2.7% |
| 净利润同比 | -125.5% | -6.0% |
| 每股收益（稀释后） | $-0.10 | $4.51 |
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HRLTOL
| Q4 25 | $3.2B | $3.4B | ||
| Q3 25 | $3.0B | $2.9B | ||
| Q2 25 | $2.9B | $2.7B | ||
| Q1 25 | $3.0B | $1.9B | ||
| Q4 24 | $3.1B | $3.3B | ||
| Q3 24 | $2.9B | $2.7B | ||
| Q2 24 | $2.9B | $2.8B | ||
| Q1 24 | $3.0B | $1.9B |
净利润HRLTOL
| Q4 25 | $-56.1M | $446.7M | ||
| Q3 25 | $183.7M | $369.6M | ||
| Q2 25 | $180.0M | $352.4M | ||
| Q1 25 | $170.6M | $177.7M | ||
| Q4 24 | $220.2M | $475.4M | ||
| Q3 24 | $176.7M | $374.6M | ||
| Q2 24 | $189.3M | $481.6M | ||
| Q1 24 | $218.9M | $239.6M |
毛利率HRLTOL
| Q4 25 | 14.0% | 24.8% | ||
| Q3 25 | 16.1% | 25.2% | ||
| Q2 25 | 16.7% | 25.8% | ||
| Q1 25 | 15.9% | 24.7% | ||
| Q4 24 | 16.6% | 26.4% | ||
| Q3 24 | 16.8% | 27.2% | ||
| Q2 24 | 17.4% | 30.4% | ||
| Q1 24 | 17.0% | 27.6% |
营业利润率HRLTOL
| Q4 25 | 0.1% | 16.5% | ||
| Q3 25 | 7.9% | 16.6% | ||
| Q2 25 | 8.6% | 16.4% | ||
| Q1 25 | 7.6% | 11.8% | ||
| Q4 24 | 9.4% | 18.3% | ||
| Q3 24 | 8.2% | 18.2% | ||
| Q2 24 | 8.7% | 22.0% | ||
| Q1 24 | 9.5% | 15.8% |
净利率HRLTOL
| Q4 25 | -1.8% | 13.0% | ||
| Q3 25 | 6.1% | 12.6% | ||
| Q2 25 | 6.2% | 12.9% | ||
| Q1 25 | 5.7% | 9.6% | ||
| Q4 24 | 7.0% | 14.3% | ||
| Q3 24 | 6.1% | 13.7% | ||
| Q2 24 | 6.6% | 17.0% | ||
| Q1 24 | 7.3% | 12.3% |
每股收益（稀释后）HRLTOL
| Q4 25 | $-0.10 | $4.51 | ||
| Q3 25 | $0.33 | $3.73 | ||
| Q2 25 | $0.33 | $3.50 | ||
| Q1 25 | $0.31 | $1.75 | ||
| Q4 24 | $0.41 | $4.61 | ||
| Q3 24 | $0.32 | $3.60 | ||
| Q2 24 | $0.34 | $4.55 | ||
| Q1 24 | $0.40 | $2.25 |
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 | $1.3B |
| 总债务越低越好 | $2.9B | — |
| 股东权益账面价值 | $7.9B | $8.3B |
| 总资产 | $13.4B | $14.5B |
| 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HRLTOL
| Q4 25 | $703.6M | $1.3B | ||
| Q3 25 | $630.7M | $852.3M | ||
| Q2 25 | $699.0M | $686.5M | ||
| Q1 25 | $866.4M | $574.8M | ||
| Q4 24 | $766.6M | $1.3B | ||
| Q3 24 | $561.9M | $893.4M | ||
| Q2 24 | $1.5B | $1.0B | ||
| Q1 24 | $981.9M | $754.8M |
总债务HRLTOL
| 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HRLTOL
| Q4 25 | $7.9B | $8.3B | ||
| Q3 25 | $8.1B | $8.1B | ||
| Q2 25 | $8.0B | $7.9B | ||
| Q1 25 | $8.0B | $7.8B | ||
| Q4 24 | $8.0B | $7.7B | ||
| Q3 24 | $7.9B | $7.4B | ||
| Q2 24 | $7.9B | $7.3B | ||
| Q1 24 | $7.8B | $7.0B |
总资产HRLTOL
| Q4 25 | $13.4B | $14.5B | ||
| Q3 25 | $13.5B | $14.4B | ||
| Q2 25 | $13.4B | $14.2B | ||
| Q1 25 | $13.4B | $13.6B | ||
| Q4 24 | $13.4B | $13.4B | ||
| Q3 24 | $13.1B | $13.4B | ||
| Q2 24 | $14.1B | $13.3B | ||
| Q1 24 | $13.5B | $12.5B |
负债/权益比HRLTOL
| 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 | $800.0M |
| 自由现金流经营现金流 - 资本支出 | $231.4M | $772.2M |
| 自由现金流率自由现金流/营收 | 7.3% | 22.6% |
| 资本支出强度资本支出/营收 | 2.9% | 0.8% |
| 现金转化率经营现金流/净利润 | — | 1.79× |
| 过去12个月自由现金流最近4个季度 | $534.3M | $1.0B |
8季度趋势，按日历期对齐
经营现金流HRLTOL
| Q4 25 | $322.9M | $800.0M | ||
| Q3 25 | $156.7M | $370.3M | ||
| Q2 25 | $56.4M | $362.8M | ||
| Q1 25 | $309.2M | $-420.8M | ||
| Q4 24 | $408.6M | $682.5M | ||
| Q3 24 | $218.0M | $175.6M | ||
| Q2 24 | $236.1M | $459.0M | ||
| Q1 24 | $404.0M | $-307.0M |
自由现金流HRLTOL
| Q4 25 | $231.4M | $772.2M | ||
| Q3 25 | $84.5M | $344.9M | ||
| Q2 25 | $-18.6M | $347.3M | ||
| Q1 25 | $237.0M | $-438.1M | ||
| Q4 24 | $324.8M | $664.3M | ||
| Q3 24 | $152.5M | $149.9M | ||
| Q2 24 | $176.2M | $442.9M | ||
| Q1 24 | $356.8M | $-320.6M |
自由现金流率HRLTOL
| Q4 25 | 7.3% | 22.6% | ||
| Q3 25 | 2.8% | 11.7% | ||
| Q2 25 | -0.6% | 12.7% | ||
| Q1 25 | 7.9% | -23.6% | ||
| Q4 24 | 10.4% | 19.9% | ||
| Q3 24 | 5.3% | 5.5% | ||
| Q2 24 | 6.1% | 15.6% | ||
| Q1 24 | 11.9% | -16.5% |
资本支出强度HRLTOL
| Q4 25 | 2.9% | 0.8% | ||
| Q3 25 | 2.4% | 0.9% | ||
| Q2 25 | 2.6% | 0.6% | ||
| Q1 25 | 2.4% | 0.9% | ||
| Q4 24 | 2.7% | 0.5% | ||
| Q3 24 | 2.3% | 0.9% | ||
| Q2 24 | 2.1% | 0.6% | ||
| Q1 24 | 1.6% | 0.7% |
现金转化率HRLTOL
| Q4 25 | — | 1.79× | ||
| Q3 25 | 0.85× | 1.00× | ||
| Q2 25 | 0.31× | 1.03× | ||
| Q1 25 | 1.81× | -2.37× | ||
| Q4 24 | 1.86× | 1.44× | ||
| Q3 24 | 1.23× | 0.47× | ||
| Q2 24 | 1.25× | 0.95× | ||
| Q1 24 | 1.85× | -1.28× |
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% |
TOL
| Home Building | $3.4B | 100% |
| Land | $9.4M | 0% |
