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亨斯迈（HUN）与林德（LIN）财务数据对比。点击上方公司名可切换其他公司
林德的季度营收约是亨斯迈的6.5倍（$8.8B vs $1.4B）。林德净利率更高（17.5% vs -7.1%，领先24.5%）。林德同比增速更快（5.8% vs -6.7%）。林德自由现金流更多（$1.6B vs $19.0M）。过去两年林德的营收复合增速更高（4.0% vs -4.0%）
亨斯迈公司是总部位于美国得克萨斯州伍德兰兹的全球化化工巨头，面向消费端与工业客户生产、销售各类化工产品，主营聚氨酯、高性能材料及胶粘剂，客户覆盖宝马、通用电气、雪佛龙、宝洁、联合利华等知名品牌。目前公司在全球25个国家设有60余处生产、研发及运营基地，员工约7000人。
林德是全球知名跨国化工企业，按市场份额及营收计为全球最大工业气体供应商。公司1879年由德国科学家、工程师卡尔·冯·林德在德国威斯巴登创立，现总部位于英国沃金，在爱尔兰注册，2018年由原林德股份公司与1907年在美国成立的普莱克斯合并组建。
HUN vs LIN — 直观对比
营收规模更大
LIN
是对方的6.5倍
$1.4B
营收增速更快
LIN
高出12.5%
-6.7%
净利率更高
LIN
高出24.5%
-7.1%
自由现金流更多
LIN
多$1.6B
$19.0M
两年增速更快
LIN
近两年复合增速
-4.0%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $8.8B |
| 净利润 | $-96.0M | $1.5B |
| 毛利率 | 12.1% | — |
| 营业利润率 | -4.4% | 23.0% |
| 净利率 | -7.1% | 17.5% |
| 营收同比 | -6.7% | 5.8% |
| 净利润同比 | 31.9% | -11.3% |
| 每股收益（稀释后） | $-0.56 | $3.28 |
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HUNLIN
| Q4 25 | $1.4B | $8.8B | ||
| Q3 25 | $1.5B | $8.6B | ||
| Q2 25 | $1.5B | $8.5B | ||
| Q1 25 | $1.4B | $8.1B | ||
| Q4 24 | $1.5B | $8.3B | ||
| Q3 24 | $1.5B | $8.4B | ||
| Q2 24 | $1.6B | $8.3B | ||
| Q1 24 | $1.5B | $8.1B |
净利润HUNLIN
| Q4 25 | $-96.0M | $1.5B | ||
| Q3 25 | $-25.0M | $1.9B | ||
| Q2 25 | $-158.0M | $1.8B | ||
| Q1 25 | $-5.0M | $1.7B | ||
| Q4 24 | $-141.0M | $1.7B | ||
| Q3 24 | $-33.0M | $1.6B | ||
| Q2 24 | $22.0M | $1.7B | ||
| Q1 24 | $-37.0M | $1.6B |
毛利率HUNLIN
| Q4 25 | 12.1% | — | ||
| Q3 25 | 14.0% | — | ||
| Q2 25 | 12.5% | — | ||
| Q1 25 | 14.3% | — | ||
| Q4 24 | 12.9% | — | ||
| Q3 24 | 15.2% | — | ||
| Q2 24 | 15.4% | — | ||
| Q1 24 | 13.7% | — |
营业利润率HUNLIN
| Q4 25 | -4.4% | 23.0% | ||
| Q3 25 | 0.4% | 27.5% | ||
| Q2 25 | -8.2% | 27.7% | ||
| Q1 25 | 3.0% | 26.9% | ||
| Q4 24 | -4.3% | 27.4% | ||
| Q3 24 | 2.7% | 25.0% | ||
| Q2 24 | 2.2% | 26.4% | ||
| Q1 24 | -2.6% | 25.9% |
净利率HUNLIN
| Q4 25 | -7.1% | 17.5% | ||
| Q3 25 | -1.7% | 22.4% | ||
| Q2 25 | -10.8% | 20.8% | ||
| Q1 25 | -0.4% | 20.6% | ||
| Q4 24 | -9.7% | 20.8% | ||
| Q3 24 | -2.1% | 18.5% | ||
| Q2 24 | 1.4% | 20.1% | ||
| Q1 24 | -2.5% | 20.1% |
每股收益（稀释后）HUNLIN
| Q4 25 | $-0.56 | $3.28 | ||
| Q3 25 | $-0.14 | $4.09 | ||
| Q2 25 | $-0.92 | $3.73 | ||
| Q1 25 | $-0.03 | $3.51 | ||
| Q4 24 | $-0.82 | $3.61 | ||
| Q3 24 | $-0.19 | $3.22 | ||
| Q2 24 | $0.13 | $3.44 | ||
| Q1 24 | $-0.22 | $3.35 |
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 | $429.0M | $5.1B |
| 总债务越低越好 | $2.0B | $20.7B |
| 股东权益账面价值 | $2.8B | $38.2B |
| 总资产 | $7.0B | $86.8B |
| 负债/权益比越低杠杆越低 | 0.73× | 0.54× |
8季度趋势，按日历期对齐
现金及短期投资HUNLIN
| Q4 25 | $429.0M | $5.1B | ||
| Q3 25 | $468.0M | $4.5B | ||
| Q2 25 | $399.0M | $4.8B | ||
| Q1 25 | $334.0M | $5.3B | ||
| Q4 24 | $340.0M | $4.8B | ||
| Q3 24 | $330.0M | $5.2B | ||
| Q2 24 | $335.0M | $4.6B | ||
| Q1 24 | $552.0M | $4.8B |
总债务HUNLIN
| Q4 25 | $2.0B | $20.7B | ||
| Q3 25 | $2.0B | $18.6B | ||
| Q2 25 | $2.0B | $19.7B | ||
| Q1 25 | $2.0B | $17.6B | ||
| Q4 24 | $1.8B | $15.3B | ||
| Q3 24 | $1.9B | $17.5B | ||
| Q2 24 | $1.9B | $16.9B | ||
| Q1 24 | $2.1B | $15.2B |
股东权益HUNLIN
| Q4 25 | $2.8B | $38.2B | ||
| Q3 25 | $2.8B | $38.6B | ||
| Q2 25 | $2.8B | $38.5B | ||
| Q1 25 | $3.0B | $38.0B | ||
| Q4 24 | $3.0B | $38.1B | ||
| Q3 24 | $3.1B | $39.2B | ||
| Q2 24 | $3.1B | $38.2B | ||
| Q1 24 | $3.2B | $38.8B |
总资产HUNLIN
| Q4 25 | $7.0B | $86.8B | ||
| Q3 25 | $7.1B | $86.0B | ||
| Q2 25 | $7.1B | $86.1B | ||
| Q1 25 | $7.2B | $82.7B | ||
| Q4 24 | $7.1B | $80.1B | ||
| Q3 24 | $7.3B | $82.5B | ||
| Q2 24 | $7.3B | $80.2B | ||
| Q1 24 | $7.6B | $80.3B |
负债/权益比HUNLIN
| Q4 25 | 0.73× | 0.54× | ||
| Q3 25 | 0.73× | 0.48× | ||
| Q2 25 | 0.72× | 0.51× | ||
| Q1 25 | 0.66× | 0.46× | ||
| Q4 24 | 0.62× | 0.40× | ||
| Q3 24 | 0.60× | 0.45× | ||
| Q2 24 | 0.62× | 0.44× | ||
| Q1 24 | 0.65× | 0.39× |
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 | $76.0M | $3.0B |
| 自由现金流经营现金流 - 资本支出 | $19.0M | $1.6B |
| 自由现金流率自由现金流/营收 | 1.4% | 17.9% |
| 资本支出强度资本支出/营收 | 4.2% | 16.6% |
| 现金转化率经营现金流/净利润 | — | 1.98× |
| 过去12个月自由现金流最近4个季度 | $116.0M | $5.1B |
8季度趋势，按日历期对齐
经营现金流HUNLIN
| Q4 25 | $76.0M | $3.0B | ||
| Q3 25 | $196.0M | $2.9B | ||
| Q2 25 | $91.0M | $2.2B | ||
| Q1 25 | $-74.0M | $2.2B | ||
| Q4 24 | $153.0M | $2.8B | ||
| Q3 24 | $129.0M | $2.7B | ||
| Q2 24 | $46.0M | $1.9B | ||
| Q1 24 | $-65.0M | $2.0B |
自由现金流HUNLIN
| Q4 25 | $19.0M | $1.6B | ||
| Q3 25 | $153.0M | $1.7B | ||
| Q2 25 | $54.0M | $954.0M | ||
| Q1 25 | $-110.0M | $891.0M | ||
| Q4 24 | $102.0M | $1.6B | ||
| Q3 24 | $88.0M | $1.7B | ||
| Q2 24 | $-4.0M | $796.0M | ||
| Q1 24 | $-107.0M | $906.0M |
自由现金流率HUNLIN
| Q4 25 | 1.4% | 17.9% | ||
| Q3 25 | 10.5% | 19.4% | ||
| Q2 25 | 3.7% | 11.2% | ||
| Q1 25 | -7.8% | 11.0% | ||
| Q4 24 | 7.0% | 18.8% | ||
| Q3 24 | 5.7% | 19.9% | ||
| Q2 24 | -0.3% | 9.6% | ||
| Q1 24 | -7.3% | 11.2% |
资本支出强度HUNLIN
| Q4 25 | 4.2% | 16.6% | ||
| Q3 25 | 2.9% | 14.8% | ||
| Q2 25 | 2.5% | 14.8% | ||
| Q1 25 | 2.6% | 15.7% | ||
| Q4 24 | 3.5% | 15.1% | ||
| Q3 24 | 2.7% | 12.8% | ||
| Q2 24 | 3.2% | 13.7% | ||
| Q1 24 | 2.9% | 12.9% |
现金转化率HUNLIN
| Q4 25 | — | 1.98× | ||
| Q3 25 | — | 1.53× | ||
| Q2 25 | — | 1.25× | ||
| Q1 25 | — | 1.29× | ||
| Q4 24 | — | 1.63× | ||
| Q3 24 | — | 1.76× | ||
| Q2 24 | 2.09× | 1.16× | ||
| Q1 24 | — | 1.20× |
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
HUN
| Diversified | $897.0M | 66% |
| Specialty | $231.0M | 17% |
| Performance Products | $113.0M | 8% |
| Advanced Materials | $61.0M | 5% |
| Related Party Customers | $19.0M | 1% |
| Other | $12.0M | 1% |
LIN
| Other | $4.9B | 56% |
| Packaged Gas | $1.6B | 19% |
| Merchant | $1.2B | 14% |
| On Site | $950.0M | 11% |
| Other Distribution Methods | $64.0M | 1% |
