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好时（HSY）与XPO, Inc.（XPO）财务数据对比。点击上方公司名可切换其他公司
好时的季度营收约是XPO, Inc.的1.5倍（$3.1B vs $2.0B），好时净利率更高（10.4% vs 2.9%，领先7.4%），好时同比增速更快（7.0% vs 4.7%），过去两年XPO, Inc.的营收复合增速更高（-0.1% 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。
XPO Inc.（原XPO物流）是美国交通运输企业，主营北美区域零担货运业务，总部位于康涅狄格州格林尼治，全球共设592个运营网点。作为北美第二大零担货运服务商，其服务覆盖99%的美国邮政编码区域。
HSY vs XPO — 直观对比
营收规模更大
HSY
是对方的1.5倍
$2.0B
营收增速更快
HSY
高出2.4%
4.7%
净利率更高
HSY
高出7.4%
2.9%
两年增速更快
XPO
近两年复合增速
-2.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.1B | $2.0B |
| 净利润 | $320.0M | $59.0M |
| 毛利率 | 37.0% | — |
| 营业利润率 | 14.4% | 7.1% |
| 净利率 | 10.4% | 2.9% |
| 营收同比 | 7.0% | 4.7% |
| 净利润同比 | -59.8% | -21.3% |
| 每股收益（稀释后） | — | $0.49 |
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HSYXPO
| Q4 25 | $3.1B | $2.0B | ||
| Q3 25 | $3.2B | $2.1B | ||
| Q2 25 | $2.6B | $2.1B | ||
| Q1 25 | $2.8B | $2.0B | ||
| Q4 24 | $2.9B | $1.9B | ||
| Q3 24 | $3.0B | $2.1B | ||
| Q2 24 | $2.1B | $2.1B | ||
| Q1 24 | $3.3B | $2.0B |
净利润HSYXPO
| Q4 25 | $320.0M | $59.0M | ||
| Q3 25 | $276.3M | $82.0M | ||
| Q2 25 | $62.7M | $106.0M | ||
| Q1 25 | $224.2M | $69.0M | ||
| Q4 24 | $796.6M | $75.0M | ||
| Q3 24 | $446.3M | $95.0M | ||
| Q2 24 | $180.9M | $150.0M | ||
| Q1 24 | $797.5M | $67.0M |
毛利率HSYXPO
| Q4 25 | 37.0% | — | ||
| Q3 25 | 32.6% | — | ||
| Q2 25 | 30.5% | — | ||
| Q1 25 | 33.7% | — | ||
| Q4 24 | 54.0% | — | ||
| Q3 24 | 41.3% | — | ||
| Q2 24 | 40.2% | — | ||
| Q1 24 | 51.5% | — |
营业利润率HSYXPO
| Q4 25 | 14.4% | 7.1% | ||
| Q3 25 | 13.7% | 7.8% | ||
| Q2 25 | 7.4% | 9.5% | ||
| Q1 25 | 13.2% | 7.7% | ||
| Q4 24 | 32.5% | 7.8% | ||
| Q3 24 | 20.5% | 8.6% | ||
| Q2 24 | 13.9% | 9.5% | ||
| Q1 24 | 32.5% | 6.8% |
净利率HSYXPO
| Q4 25 | 10.4% | 2.9% | ||
| Q3 25 | 8.7% | 3.9% | ||
| Q2 25 | 2.4% | 5.1% | ||
| Q1 25 | 8.0% | 3.5% | ||
| Q4 24 | 27.6% | 3.9% | ||
| Q3 24 | 14.9% | 4.6% | ||
| Q2 24 | 8.7% | 7.2% | ||
| Q1 24 | 24.5% | 3.3% |
每股收益（稀释后）HSYXPO
| Q4 25 | — | $0.49 | ||
| Q3 25 | — | $0.68 | ||
| Q2 25 | — | $0.89 | ||
| Q1 25 | — | $0.58 | ||
| Q4 24 | — | $0.63 | ||
| Q3 24 | — | $0.79 | ||
| Q2 24 | — | $1.25 | ||
| Q1 24 | — | $0.56 |
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 | — | $310.0M |
| 总债务越低越好 | $4.7B | — |
| 股东权益账面价值 | $4.6B | $1.9B |
| 总资产 | $13.7B | $8.2B |
| 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HSYXPO
| Q4 25 | — | $310.0M | ||
| Q3 25 | — | $335.0M | ||
| Q2 25 | — | $225.0M | ||
| Q1 25 | — | $212.0M | ||
| Q4 24 | — | $246.0M | ||
| Q3 24 | — | $378.0M | ||
| Q2 24 | — | $250.0M | ||
| Q1 24 | — | $229.0M |
总债务HSYXPO
| Q4 25 | $4.7B | — | ||
| Q3 25 | $4.7B | — | ||
| Q2 25 | $5.2B | — | ||
| Q1 25 | $5.2B | — | ||
| Q4 24 | $3.2B | — | ||
| Q3 24 | $3.2B | — | ||
| Q2 24 | $3.5B | — | ||
| Q1 24 | $3.8B | — |
股东权益HSYXPO
| Q4 25 | $4.6B | $1.9B | ||
| Q3 25 | $4.6B | $1.8B | ||
| Q2 25 | $4.5B | $1.8B | ||
| Q1 25 | $4.7B | $1.6B | ||
| Q4 24 | $4.7B | $1.6B | ||
| Q3 24 | $4.2B | $1.6B | ||
| Q2 24 | $4.0B | $1.5B | ||
| Q1 24 | $4.1B | $1.3B |
总资产HSYXPO
| Q4 25 | $13.7B | $8.2B | ||
| Q3 25 | $13.6B | $8.2B | ||
| Q2 25 | $13.6B | $8.1B | ||
| Q1 25 | $14.0B | $7.9B | ||
| Q4 24 | $12.9B | $7.7B | ||
| Q3 24 | $12.6B | $7.9B | ||
| Q2 24 | $12.4B | $7.7B | ||
| Q1 24 | $12.4B | $7.6B |
负债/权益比HSYXPO
| 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 | — |
| 自由现金流经营现金流 - 资本支出 | $788.5M | — |
| 自由现金流率自由现金流/营收 | 25.5% | — |
| 资本支出强度资本支出/营收 | 4.5% | 5.3% |
| 现金转化率经营现金流/净利润 | 2.90× | — |
| 过去12个月自由现金流最近4个季度 | $1.8B | — |
8季度趋势，按日历期对齐
经营现金流HSYXPO
| Q4 25 | $926.6M | — | ||
| Q3 25 | $841.9M | $371.0M | ||
| Q2 25 | $112.2M | $247.0M | ||
| Q1 25 | $396.7M | $142.0M | ||
| Q4 24 | $941.6M | $189.0M | ||
| Q3 24 | $695.3M | $264.0M | ||
| Q2 24 | $325.6M | $210.0M | ||
| Q1 24 | $569.1M | $145.0M |
自由现金流HSYXPO
| Q4 25 | $788.5M | — | ||
| Q3 25 | $756.0M | $215.0M | ||
| Q2 25 | $27.1M | $51.0M | ||
| Q1 25 | $251.2M | $-57.0M | ||
| Q4 24 | $807.1M | $23.0M | ||
| Q3 24 | $567.3M | $137.0M | ||
| Q2 24 | $195.5M | $20.0M | ||
| Q1 24 | $355.8M | $-161.0M |
自由现金流率HSYXPO
| Q4 25 | 25.5% | — | ||
| Q3 25 | 23.8% | 10.2% | ||
| Q2 25 | 1.0% | 2.5% | ||
| Q1 25 | 9.0% | -2.9% | ||
| Q4 24 | 28.0% | 1.2% | ||
| Q3 24 | 19.0% | 6.7% | ||
| Q2 24 | 9.4% | 1.0% | ||
| Q1 24 | 10.9% | -8.0% |
资本支出强度HSYXPO
| Q4 25 | 4.5% | 5.3% | ||
| Q3 25 | 2.7% | 7.4% | ||
| Q2 25 | 3.3% | 9.4% | ||
| Q1 25 | 5.2% | 10.2% | ||
| Q4 24 | 4.7% | 8.6% | ||
| Q3 24 | 4.3% | 6.2% | ||
| Q2 24 | 6.3% | 9.1% | ||
| Q1 24 | 6.6% | 15.2% |
现金转化率HSYXPO
| Q4 25 | 2.90× | — | ||
| Q3 25 | 3.05× | 4.52× | ||
| Q2 25 | 1.79× | 2.33× | ||
| Q1 25 | 1.77× | 2.06× | ||
| Q4 24 | 1.18× | 2.52× | ||
| Q3 24 | 1.56× | 2.78× | ||
| Q2 24 | 1.80× | 1.40× | ||
| Q1 24 | 0.71× | 2.16× |
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
| Other | $1.8B | 59% |
| North America Salty Snacks Segment | $1.3B | 41% |
XPO
| North American LTL | $1.2B | 58% |
| European Transportation | $844.0M | 42% |
