vs
亨斯迈（HUN）与利氏兄弟拍卖行（RBA）财务数据对比。点击上方公司名可切换其他公司
亨斯迈的季度营收约是利氏兄弟拍卖行的1.1倍（$1.4B vs $1.2B），利氏兄弟拍卖行净利率更高（9.1% vs -7.1%，领先16.2%），利氏兄弟拍卖行同比增速更快（5.4% vs -6.7%），利氏兄弟拍卖行自由现金流更多（$186.5M vs $19.0M），过去两年利氏兄弟拍卖行的营收复合增速更高（6.3% 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。
利氏兄弟拍卖行（股票代码RBA）是全球知名的工业资产拍卖服务商，注册地位于加拿大，属公开上市企业，总部设在美国伊利诺伊州韦斯特切斯特，普通股同时在多伦多证券交易所与纽约证券交易所挂牌交易。
HUN vs RBA — 直观对比
营收规模更大
HUN
是对方的1.1倍
$1.2B
营收增速更快
RBA
高出12.1%
-6.7%
净利率更高
RBA
高出16.2%
-7.1%
自由现金流更多
RBA
多$167.5M
$19.0M
两年增速更快
RBA
近两年复合增速
-4.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.2B |
| 净利润 | $-96.0M | $109.7M |
| 毛利率 | 12.1% | — |
| 营业利润率 | -4.4% | 14.7% |
| 净利率 | -7.1% | 9.1% |
| 营收同比 | -6.7% | 5.4% |
| 净利润同比 | 31.9% | -7.4% |
| 每股收益（稀释后） | $-0.56 | $0.53 |
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HUNRBA
| Q4 25 | $1.4B | $1.2B | ||
| Q3 25 | $1.5B | $1.1B | ||
| Q2 25 | $1.5B | $1.2B | ||
| Q1 25 | $1.4B | $1.1B | ||
| Q4 24 | $1.5B | $1.1B | ||
| Q3 24 | $1.5B | $981.8M | ||
| Q2 24 | $1.6B | $1.1B | ||
| Q1 24 | $1.5B | $1.1B |
净利润HUNRBA
| Q4 25 | $-96.0M | $109.7M | ||
| Q3 25 | $-25.0M | $95.5M | ||
| Q2 25 | $-158.0M | $109.8M | ||
| Q1 25 | $-5.0M | $113.4M | ||
| Q4 24 | $-141.0M | $118.5M | ||
| Q3 24 | $-33.0M | $76.1M | ||
| Q2 24 | $22.0M | $111.1M | ||
| Q1 24 | $-37.0M | $107.4M |
毛利率HUNRBA
| 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HUNRBA
| Q4 25 | -4.4% | 14.7% | ||
| Q3 25 | 0.4% | 14.5% | ||
| Q2 25 | -8.2% | 15.9% | ||
| Q1 25 | 3.0% | 17.1% | ||
| Q4 24 | -4.3% | 18.1% | ||
| Q3 24 | 2.7% | 15.6% | ||
| Q2 24 | 2.2% | 18.4% | ||
| Q1 24 | -2.6% | 18.7% |
净利率HUNRBA
| Q4 25 | -7.1% | 9.1% | ||
| Q3 25 | -1.7% | 8.7% | ||
| Q2 25 | -10.8% | 9.3% | ||
| Q1 25 | -0.4% | 10.2% | ||
| Q4 24 | -9.7% | 10.4% | ||
| Q3 24 | -2.1% | 7.8% | ||
| Q2 24 | 1.4% | 10.1% | ||
| Q1 24 | -2.5% | 10.1% |
每股收益（稀释后）HUNRBA
| Q4 25 | $-0.56 | $0.53 | ||
| Q3 25 | $-0.14 | $0.43 | ||
| Q2 25 | $-0.92 | $0.53 | ||
| Q1 25 | $-0.03 | $0.55 | ||
| Q4 24 | $-0.82 | $0.58 | ||
| Q3 24 | $-0.19 | $0.36 | ||
| Q2 24 | $0.13 | $0.54 | ||
| Q1 24 | $-0.22 | $0.53 |
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 | $531.5M |
| 总债务越低越好 | $2.0B | $2.3B |
| 股东权益账面价值 | $2.8B | $5.6B |
| 总资产 | $7.0B | $12.1B |
| 负债/权益比越低杠杆越低 | 0.73× | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资HUNRBA
| Q4 25 | $429.0M | $531.5M | ||
| Q3 25 | $468.0M | $674.7M | ||
| Q2 25 | $399.0M | $710.2M | ||
| Q1 25 | $334.0M | $578.1M | ||
| Q4 24 | $340.0M | $533.9M | ||
| Q3 24 | $330.0M | $650.7M | ||
| Q2 24 | $335.0M | $599.5M | ||
| Q1 24 | $552.0M | $462.8M |
总债务HUNRBA
| Q4 25 | $2.0B | $2.3B | ||
| Q3 25 | $2.0B | $2.6B | ||
| Q2 25 | $2.0B | $2.6B | ||
| Q1 25 | $2.0B | $2.6B | ||
| Q4 24 | $1.8B | $2.6B | ||
| Q3 24 | $1.9B | $2.7B | ||
| Q2 24 | $1.9B | $2.8B | ||
| Q1 24 | $2.1B | $2.9B |
股东权益HUNRBA
| Q4 25 | $2.8B | $5.6B | ||
| Q3 25 | $2.8B | $5.5B | ||
| Q2 25 | $2.8B | $5.5B | ||
| Q1 25 | $3.0B | $5.3B | ||
| Q4 24 | $3.0B | $5.2B | ||
| Q3 24 | $3.1B | $5.2B | ||
| Q2 24 | $3.1B | $5.2B | ||
| Q1 24 | $3.2B | $5.1B |
总资产HUNRBA
| Q4 25 | $7.0B | $12.1B | ||
| Q3 25 | $7.1B | $12.2B | ||
| Q2 25 | $7.1B | $12.2B | ||
| Q1 25 | $7.2B | $11.9B | ||
| Q4 24 | $7.1B | $11.8B | ||
| Q3 24 | $7.3B | $11.9B | ||
| Q2 24 | $7.3B | $12.1B | ||
| Q1 24 | $7.6B | $12.0B |
负债/权益比HUNRBA
| Q4 25 | 0.73× | 0.42× | ||
| Q3 25 | 0.73× | 0.47× | ||
| Q2 25 | 0.72× | 0.47× | ||
| Q1 25 | 0.66× | 0.50× | ||
| Q4 24 | 0.62× | 0.50× | ||
| Q3 24 | 0.60× | 0.52× | ||
| Q2 24 | 0.62× | 0.55× | ||
| Q1 24 | 0.65× | 0.58× |
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 | $255.2M |
| 自由现金流经营现金流 - 资本支出 | $19.0M | $186.5M |
| 自由现金流率自由现金流/营收 | 1.4% | 15.5% |
| 资本支出强度资本支出/营收 | 4.2% | 5.7% |
| 现金转化率经营现金流/净利润 | — | 2.33× |
| 过去12个月自由现金流最近4个季度 | $116.0M | $719.2M |
8季度趋势，按日历期对齐
经营现金流HUNRBA
| Q4 25 | $76.0M | $255.2M | ||
| Q3 25 | $196.0M | $239.7M | ||
| Q2 25 | $91.0M | $326.5M | ||
| Q1 25 | $-74.0M | $156.8M | ||
| Q4 24 | $153.0M | $184.5M | ||
| Q3 24 | $129.0M | $285.4M | ||
| Q2 24 | $46.0M | $337.3M | ||
| Q1 24 | $-65.0M | $124.8M |
自由现金流HUNRBA
| Q4 25 | $19.0M | $186.5M | ||
| Q3 25 | $153.0M | $188.5M | ||
| Q2 25 | $54.0M | $241.7M | ||
| Q1 25 | $-110.0M | $102.5M | ||
| Q4 24 | $102.0M | $127.9M | ||
| Q3 24 | $88.0M | $248.5M | ||
| Q2 24 | $-4.0M | $308.6M | ||
| Q1 24 | $-107.0M | $79.6M |
自由现金流率HUNRBA
| Q4 25 | 1.4% | 15.5% | ||
| Q3 25 | 10.5% | 17.3% | ||
| Q2 25 | 3.7% | 20.4% | ||
| Q1 25 | -7.8% | 9.2% | ||
| Q4 24 | 7.0% | 11.2% | ||
| Q3 24 | 5.7% | 25.3% | ||
| Q2 24 | -0.3% | 28.2% | ||
| Q1 24 | -7.3% | 7.5% |
资本支出强度HUNRBA
| Q4 25 | 4.2% | 5.7% | ||
| Q3 25 | 2.9% | 4.7% | ||
| Q2 25 | 2.5% | 7.2% | ||
| Q1 25 | 2.6% | 4.9% | ||
| Q4 24 | 3.5% | 5.0% | ||
| Q3 24 | 2.7% | 3.8% | ||
| Q2 24 | 3.2% | 2.6% | ||
| Q1 24 | 2.9% | 4.2% |
现金转化率HUNRBA
| Q4 25 | — | 2.33× | ||
| Q3 25 | — | 2.51× | ||
| Q2 25 | — | 2.97× | ||
| Q1 25 | — | 1.38× | ||
| Q4 24 | — | 1.56× | ||
| Q3 24 | — | 3.75× | ||
| Q2 24 | 2.09× | 3.04× | ||
| Q1 24 | — | 1.16× |
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
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% |
RBA
| Buyer Revenue | $577.2M | 48% |
| Seller Revenue | $255.2M | 21% |
| CA | $199.0M | 17% |
| Other | $124.7M | 10% |
| AU | $47.3M | 4% |
