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亨斯迈（HUN）与Snap Inc（SNAP）财务数据对比。点击上方公司名可切换其他公司
Snap Inc的季度营收约是亨斯迈的1.3倍（$1.7B vs $1.4B），Snap Inc净利率更高（2.6% vs -7.1%，领先9.7%），Snap Inc同比增速更快（10.2% vs -6.7%），Snap Inc自由现金流更多（$205.6M vs $19.0M），过去两年Snap Inc的营收复合增速更高（19.9% 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。
Snap Inc.是一家美国科技企业，2011年9月16日由埃文·斯皮格尔、鲍比·墨菲和雷吉·布朗联合创立，总部位于加利福尼亚州圣莫尼卡。公司核心产品包括社交应用Snapchat、智能眼镜Spectacles、虚拟形象工具Bitmoji以及营销推广解决方案SnapBoost，2016年9月24日由原Snapchat Inc.更名为现名，覆盖社交、智能硬件等多元业务领域。
HUN vs SNAP — 直观对比
营收规模更大
SNAP
是对方的1.3倍
$1.4B
营收增速更快
SNAP
高出16.9%
-6.7%
净利率更高
SNAP
高出9.7%
-7.1%
自由现金流更多
SNAP
多$186.6M
$19.0M
两年增速更快
SNAP
近两年复合增速
-4.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.7B |
| 净利润 | $-96.0M | $45.2M |
| 毛利率 | 12.1% | 59.1% |
| 营业利润率 | -4.4% | 2.9% |
| 净利率 | -7.1% | 2.6% |
| 营收同比 | -6.7% | 10.2% |
| 净利润同比 | 31.9% | 396.7% |
| 每股收益（稀释后） | $-0.56 | $0.03 |
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HUNSNAP
| Q4 25 | $1.4B | $1.7B | ||
| Q3 25 | $1.5B | $1.5B | ||
| Q2 25 | $1.5B | $1.3B | ||
| Q1 25 | $1.4B | $1.4B | ||
| Q4 24 | $1.5B | $1.6B | ||
| Q3 24 | $1.5B | $1.4B | ||
| Q2 24 | $1.6B | $1.2B | ||
| Q1 24 | $1.5B | $1.2B |
净利润HUNSNAP
| Q4 25 | $-96.0M | $45.2M | ||
| Q3 25 | $-25.0M | $-103.5M | ||
| Q2 25 | $-158.0M | $-262.6M | ||
| Q1 25 | $-5.0M | $-139.6M | ||
| Q4 24 | $-141.0M | $9.1M | ||
| Q3 24 | $-33.0M | $-153.2M | ||
| Q2 24 | $22.0M | $-248.6M | ||
| Q1 24 | $-37.0M | $-305.1M |
毛利率HUNSNAP
| Q4 25 | 12.1% | 59.1% | ||
| Q3 25 | 14.0% | 55.3% | ||
| Q2 25 | 12.5% | 51.4% | ||
| Q1 25 | 14.3% | 53.1% | ||
| Q4 24 | 12.9% | 56.9% | ||
| Q3 24 | 15.2% | 53.5% | ||
| Q2 24 | 15.4% | 52.4% | ||
| Q1 24 | 13.7% | 51.9% |
营业利润率HUNSNAP
| Q4 25 | -4.4% | 2.9% | ||
| Q3 25 | 0.4% | -8.5% | ||
| Q2 25 | -8.2% | -19.3% | ||
| Q1 25 | 3.0% | -14.2% | ||
| Q4 24 | -4.3% | -1.7% | ||
| Q3 24 | 2.7% | -12.6% | ||
| Q2 24 | 2.2% | -20.5% | ||
| Q1 24 | -2.6% | -27.9% |
净利率HUNSNAP
| Q4 25 | -7.1% | 2.6% | ||
| Q3 25 | -1.7% | -6.9% | ||
| Q2 25 | -10.8% | -19.5% | ||
| Q1 25 | -0.4% | -10.2% | ||
| Q4 24 | -9.7% | 0.6% | ||
| Q3 24 | -2.1% | -11.2% | ||
| Q2 24 | 1.4% | -20.1% | ||
| Q1 24 | -2.5% | -25.5% |
每股收益（稀释后）HUNSNAP
| Q4 25 | $-0.56 | $0.03 | ||
| Q3 25 | $-0.14 | $-0.06 | ||
| Q2 25 | $-0.92 | $-0.16 | ||
| Q1 25 | $-0.03 | $-0.08 | ||
| Q4 24 | $-0.82 | $0.01 | ||
| Q3 24 | $-0.19 | $-0.09 | ||
| Q2 24 | $0.13 | $-0.15 | ||
| Q1 24 | $-0.22 | $-0.19 |
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 | $2.9B |
| 总债务越低越好 | $2.0B | $3.5B |
| 股东权益账面价值 | $2.8B | $2.3B |
| 总资产 | $7.0B | $7.7B |
| 负债/权益比越低杠杆越低 | 0.73× | 1.55× |
8季度趋势，按日历期对齐
现金及短期投资HUNSNAP
| Q4 25 | $429.0M | $2.9B | ||
| Q3 25 | $468.0M | $3.0B | ||
| Q2 25 | $399.0M | $2.9B | ||
| Q1 25 | $334.0M | $3.2B | ||
| Q4 24 | $340.0M | $3.4B | ||
| Q3 24 | $330.0M | $3.2B | ||
| Q2 24 | $335.0M | $3.1B | ||
| Q1 24 | $552.0M | $2.9B |
总债务HUNSNAP
| Q4 25 | $2.0B | $3.5B | ||
| Q3 25 | $2.0B | $3.5B | ||
| Q2 25 | $2.0B | $3.6B | ||
| Q1 25 | $2.0B | $3.6B | ||
| Q4 24 | $1.8B | $3.6B | ||
| Q3 24 | $1.9B | $3.6B | ||
| Q2 24 | $1.9B | $3.6B | ||
| Q1 24 | $2.1B | $3.3B |
股东权益HUNSNAP
| Q4 25 | $2.8B | $2.3B | ||
| Q3 25 | $2.8B | $2.2B | ||
| Q2 25 | $2.8B | $2.1B | ||
| Q1 25 | $3.0B | $2.3B | ||
| Q4 24 | $3.0B | $2.5B | ||
| Q3 24 | $3.1B | $2.2B | ||
| Q2 24 | $3.1B | $2.1B | ||
| Q1 24 | $3.2B | $2.1B |
总资产HUNSNAP
| Q4 25 | $7.0B | $7.7B | ||
| Q3 25 | $7.1B | $7.6B | ||
| Q2 25 | $7.1B | $7.4B | ||
| Q1 25 | $7.2B | $7.6B | ||
| Q4 24 | $7.1B | $7.9B | ||
| Q3 24 | $7.3B | $7.6B | ||
| Q2 24 | $7.3B | $7.4B | ||
| Q1 24 | $7.6B | $7.2B |
负债/权益比HUNSNAP
| Q4 25 | 0.73× | 1.55× | ||
| Q3 25 | 0.73× | 1.59× | ||
| Q2 25 | 0.72× | 1.73× | ||
| Q1 25 | 0.66× | 1.56× | ||
| Q4 24 | 0.62× | 1.49× | ||
| Q3 24 | 0.60× | 1.65× | ||
| Q2 24 | 0.62× | 1.76× | ||
| Q1 24 | 0.65× | 1.55× |
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 | $269.6M |
| 自由现金流经营现金流 - 资本支出 | $19.0M | $205.6M |
| 自由现金流率自由现金流/营收 | 1.4% | 12.0% |
| 资本支出强度资本支出/营收 | 4.2% | 3.7% |
| 现金转化率经营现金流/净利润 | — | 5.96× |
| 过去12个月自由现金流最近4个季度 | $116.0M | $437.2M |
8季度趋势，按日历期对齐
经营现金流HUNSNAP
| Q4 25 | $76.0M | $269.6M | ||
| Q3 25 | $196.0M | $146.5M | ||
| Q2 25 | $91.0M | $88.5M | ||
| Q1 25 | $-74.0M | $151.6M | ||
| Q4 24 | $153.0M | $230.6M | ||
| Q3 24 | $129.0M | $115.9M | ||
| Q2 24 | $46.0M | $-21.4M | ||
| Q1 24 | $-65.0M | $88.4M |
自由现金流HUNSNAP
| Q4 25 | $19.0M | $205.6M | ||
| Q3 25 | $153.0M | $93.4M | ||
| Q2 25 | $54.0M | $23.8M | ||
| Q1 25 | $-110.0M | $114.4M | ||
| Q4 24 | $102.0M | $182.4M | ||
| Q3 24 | $88.0M | $71.8M | ||
| Q2 24 | $-4.0M | $-73.4M | ||
| Q1 24 | $-107.0M | $37.9M |
自由现金流率HUNSNAP
| Q4 25 | 1.4% | 12.0% | ||
| Q3 25 | 10.5% | 6.2% | ||
| Q2 25 | 3.7% | 1.8% | ||
| Q1 25 | -7.8% | 8.4% | ||
| Q4 24 | 7.0% | 11.7% | ||
| Q3 24 | 5.7% | 5.2% | ||
| Q2 24 | -0.3% | -5.9% | ||
| Q1 24 | -7.3% | 3.2% |
资本支出强度HUNSNAP
| Q4 25 | 4.2% | 3.7% | ||
| Q3 25 | 2.9% | 3.5% | ||
| Q2 25 | 2.5% | 4.8% | ||
| Q1 25 | 2.6% | 2.7% | ||
| Q4 24 | 3.5% | 3.1% | ||
| Q3 24 | 2.7% | 3.2% | ||
| Q2 24 | 3.2% | 4.2% | ||
| Q1 24 | 2.9% | 4.2% |
现金转化率HUNSNAP
| Q4 25 | — | 5.96× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 25.34× | ||
| Q3 24 | — | — | ||
| Q2 24 | 2.09× | — | ||
| Q1 24 | — | — |
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% |
SNAP
| Advertising Revenue | $1.5B | 86% |
| Other Revenue | $231.9M | 14% |
