vs
好时（HSY）与奥驰亚（MO）财务数据对比。点击上方公司名可切换其他公司
奥驰亚的季度营收约是好时的1.9倍（$5.8B vs $3.1B）。奥驰亚净利率更高（19.1% vs 10.4%，领先8.8%）。好时同比增速更快（7.0% vs -2.1%）。奥驰亚自由现金流更多（$3.2B vs $788.5M）。过去两年奥驰亚的营收复合增速更高（2.4% vs -2.5%）
好时公司是总部位于美国宾夕法尼亚州好时镇的跨国糖果企业，也是全球最大的巧克力生产商之一，由米尔顿·S·好时于1894年创立。公司除核心巧克力产品外，还生产饼干、蛋糕等烘焙食品，同时销售奶昔等多类饮品，产品覆盖多个食品品类。
奥驰亚集团是美国头部烟草企业，通过旗下子公司生产销售可燃烟草与口服类烟草相关产品，核心品牌包括万宝路香烟、Black & Mild雪茄及烟斗烟、哥本哈根、斯库尔等湿无烟烟草，以及on!口服尼古丁袋，产品主要供应批发商、分销商及大型零售客户。
HSY vs MO — 直观对比
营收规模更大
MO
是对方的1.9倍
$3.1B
营收增速更快
HSY
高出9.2%
-2.1%
净利率更高
MO
高出8.8%
10.4%
自由现金流更多
MO
多$2.4B
$788.5M
两年增速更快
MO
近两年复合增速
-2.5%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $3.1B | $5.8B |
| 净利润 | $320.0M | $1.1B |
| 毛利率 | 37.0% | 62.1% |
| 营业利润率 | 14.4% | 28.2% |
| 净利率 | 10.4% | 19.1% |
| 营收同比 | 7.0% | -2.1% |
| 净利润同比 | -59.8% | -63.2% |
| 每股收益（稀释后） | — | $0.67 |
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HSYMO
| Q4 25 | $3.1B | $5.8B | ||
| Q3 25 | $3.2B | $6.1B | ||
| Q2 25 | $2.6B | $6.1B | ||
| Q1 25 | $2.8B | $5.3B | ||
| Q4 24 | $2.9B | $6.0B | ||
| Q3 24 | $3.0B | $6.3B | ||
| Q2 24 | $2.1B | $6.2B | ||
| Q1 24 | $3.3B | $5.6B |
净利润HSYMO
| Q4 25 | $320.0M | $1.1B | ||
| Q3 25 | $276.3M | $2.4B | ||
| Q2 25 | $62.7M | $2.4B | ||
| Q1 25 | $224.2M | $1.1B | ||
| Q4 24 | $796.6M | $3.0B | ||
| Q3 24 | $446.3M | $2.3B | ||
| Q2 24 | $180.9M | $3.8B | ||
| Q1 24 | $797.5M | $2.1B |
毛利率HSYMO
| Q4 25 | 37.0% | 62.1% | ||
| Q3 25 | 32.6% | 62.8% | ||
| Q2 25 | 30.5% | 63.1% | ||
| Q1 25 | 33.7% | 61.8% | ||
| Q4 24 | 54.0% | 60.3% | ||
| Q3 24 | 41.3% | 60.8% | ||
| Q2 24 | 40.2% | 59.2% | ||
| Q1 24 | 51.5% | 58.8% |
营业利润率HSYMO
| Q4 25 | 14.4% | 28.2% | ||
| Q3 25 | 13.7% | 53.2% | ||
| Q2 25 | 7.4% | 52.9% | ||
| Q1 25 | 13.2% | 34.0% | ||
| Q4 24 | 32.5% | 48.2% | ||
| Q3 24 | 20.5% | 50.4% | ||
| Q2 24 | 13.9% | 40.8% | ||
| Q1 24 | 32.5% | 48.0% |
净利率HSYMO
| Q4 25 | 10.4% | 19.1% | ||
| Q3 25 | 8.7% | 39.1% | ||
| Q2 25 | 2.4% | 39.0% | ||
| Q1 25 | 8.0% | 20.5% | ||
| Q4 24 | 27.6% | 50.9% | ||
| Q3 24 | 14.9% | 36.6% | ||
| Q2 24 | 8.7% | 61.2% | ||
| Q1 24 | 24.5% | 38.2% |
每股收益（稀释后）HSYMO
| Q4 25 | — | $0.67 | ||
| Q3 25 | — | $1.41 | ||
| Q2 25 | — | $1.41 | ||
| Q1 25 | — | $0.63 | ||
| Q4 24 | — | $1.78 | ||
| Q3 24 | — | $1.34 | ||
| Q2 24 | — | $2.21 | ||
| Q1 24 | — | $1.21 |
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 | — | $4.5B |
| 总债务越低越好 | $4.7B | $25.7B |
| 股东权益账面价值 | $4.6B | $-3.5B |
| 总资产 | $13.7B | $35.0B |
| 负债/权益比越低杠杆越低 | 1.01× | — |
8季度趋势，按日历期对齐
现金及短期投资HSYMO
| Q4 25 | — | $4.5B | ||
| Q3 25 | — | $3.5B | ||
| Q2 25 | — | $1.3B | ||
| Q1 25 | — | $4.7B | ||
| Q4 24 | — | $3.1B | ||
| Q3 24 | — | $1.9B | ||
| Q2 24 | — | $1.8B | ||
| Q1 24 | — | $3.6B |
总债务HSYMO
| Q4 25 | $4.7B | $25.7B | ||
| Q3 25 | $4.7B | $25.7B | ||
| Q2 25 | $5.2B | $24.7B | ||
| Q1 25 | $5.2B | $26.1B | ||
| Q4 24 | $3.2B | $24.9B | ||
| Q3 24 | $3.2B | $25.2B | ||
| Q2 24 | $3.5B | $25.0B | ||
| Q1 24 | $3.8B | $25.0B |
股东权益HSYMO
| Q4 25 | $4.6B | $-3.5B | ||
| Q3 25 | $4.6B | $-2.6B | ||
| Q2 25 | $4.5B | $-3.3B | ||
| Q1 25 | $4.7B | $-3.5B | ||
| Q4 24 | $4.7B | $-2.2B | ||
| Q3 24 | $4.2B | $-3.5B | ||
| Q2 24 | $4.0B | $-3.0B | ||
| Q1 24 | $4.1B | $-5.1B |
总资产HSYMO
| Q4 25 | $13.7B | $35.0B | ||
| Q3 25 | $13.6B | $35.0B | ||
| Q2 25 | $13.6B | $32.3B | ||
| Q1 25 | $14.0B | $35.8B | ||
| Q4 24 | $12.9B | $35.2B | ||
| Q3 24 | $12.6B | $34.2B | ||
| Q2 24 | $12.4B | $34.4B | ||
| Q1 24 | $12.4B | $36.5B |
负债/权益比HSYMO
| Q4 25 | 1.01× | — | ||
| Q3 25 | 1.02× | — | ||
| Q2 25 | 1.15× | — | ||
| Q1 25 | 1.11× | — | ||
| Q4 24 | 0.68× | — | ||
| Q3 24 | 0.76× | — | ||
| Q2 24 | 0.87× | — | ||
| Q1 24 | 0.92× | — |
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 | $926.6M | $3.3B |
| 自由现金流经营现金流 - 资本支出 | $788.5M | $3.2B |
| 自由现金流率自由现金流/营收 | 25.5% | 54.4% |
| 资本支出强度资本支出/营收 | 4.5% | 1.6% |
| 现金转化率经营现金流/净利润 | 2.90× | 2.93× |
| 过去12个月自由现金流最近4个季度 | $1.8B | $9.1B |
8季度趋势，按日历期对齐
经营现金流HSYMO
| Q4 25 | $926.6M | $3.3B | ||
| Q3 25 | $841.9M | $3.1B | ||
| Q2 25 | $112.2M | $205.0M | ||
| Q1 25 | $396.7M | $2.7B | ||
| Q4 24 | $941.6M | $3.3B | ||
| Q3 24 | $695.3M | $2.6B | ||
| Q2 24 | $325.6M | $-75.0M | ||
| Q1 24 | $569.1M | $2.9B |
自由现金流HSYMO
| Q4 25 | $788.5M | $3.2B | ||
| Q3 25 | $756.0M | $3.0B | ||
| Q2 25 | $27.1M | $173.0M | ||
| Q1 25 | $251.2M | $2.7B | ||
| Q4 24 | $807.1M | $3.3B | ||
| Q3 24 | $567.3M | $2.6B | ||
| Q2 24 | $195.5M | $-104.0M | ||
| Q1 24 | $355.8M | $2.8B |
自由现金流率HSYMO
| Q4 25 | 25.5% | 54.4% | ||
| Q3 25 | 23.8% | 50.1% | ||
| Q2 25 | 1.0% | 2.8% | ||
| Q1 25 | 9.0% | 51.0% | ||
| Q4 24 | 28.0% | 55.1% | ||
| Q3 24 | 19.0% | 41.2% | ||
| Q2 24 | 9.4% | -1.7% | ||
| Q1 24 | 10.9% | 51.0% |
资本支出强度HSYMO
| Q4 25 | 4.5% | 1.6% | ||
| Q3 25 | 2.7% | 0.9% | ||
| Q2 25 | 3.3% | 0.5% | ||
| Q1 25 | 5.2% | 0.7% | ||
| Q4 24 | 4.7% | 0.8% | ||
| Q3 24 | 4.3% | 0.5% | ||
| Q2 24 | 6.3% | 0.5% | ||
| Q1 24 | 6.6% | 0.6% |
现金转化率HSYMO
| Q4 25 | 2.90× | 2.93× | ||
| Q3 25 | 3.05× | 1.30× | ||
| Q2 25 | 1.79× | 0.09× | ||
| Q1 25 | 1.77× | 2.53× | ||
| Q4 24 | 1.18× | 1.10× | ||
| Q3 24 | 1.56× | 1.14× | ||
| Q2 24 | 1.80× | -0.02× | ||
| Q1 24 | 0.71× | 1.35× |
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
HSY
暂无分部数据
MO
| Smokeable Products Segment | $5.1B | 88% |
| Oral Tobacco Segment | $706.0M | 12% |
