vs
亨斯迈（HUN）与永利度假村（WYNN）财务数据对比。点击上方公司名可切换其他公司
永利度假村的季度营收约是亨斯迈的1.4倍（$1.9B vs $1.4B），永利度假村净利率更高（5.4% vs -7.1%，领先12.4%），永利度假村同比增速更快（1.5% vs -6.7%），永利度假村自由现金流更多（$306.8M vs $19.0M），过去两年永利度假村的营收复合增速更高（0.1% 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。
永利度假村是总部位于美国内华达州帕拉代斯的上市企业，专注于高端酒店及博彩度假村的开发与运营。公司2002年由前梦幻度假村董事长兼首席执行官史蒂夫·永利创立，现任首席执行官为克雷格·比林斯，截至2020年已在全球布局6处优质物业。
HUN vs WYNN — 直观对比
营收规模更大
WYNN
是对方的1.4倍
$1.4B
营收增速更快
WYNN
高出8.2%
-6.7%
净利率更高
WYNN
高出12.4%
-7.1%
自由现金流更多
WYNN
多$287.8M
$19.0M
两年增速更快
WYNN
近两年复合增速
-4.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.9B |
| 净利润 | $-96.0M | $100.0M |
| 毛利率 | 12.1% | — |
| 营业利润率 | -4.4% | 14.7% |
| 净利率 | -7.1% | 5.4% |
| 营收同比 | -6.7% | 1.5% |
| 净利润同比 | 31.9% | -63.9% |
| 每股收益（稀释后） | $-0.56 | $0.96 |
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HUNWYNN
| Q4 25 | $1.4B | $1.9B | ||
| Q3 25 | $1.5B | $1.8B | ||
| Q2 25 | $1.5B | $1.7B | ||
| Q1 25 | $1.4B | $1.7B | ||
| Q4 24 | $1.5B | $1.8B | ||
| Q3 24 | $1.5B | $1.7B | ||
| Q2 24 | $1.6B | $1.7B | ||
| Q1 24 | $1.5B | $1.9B |
净利润HUNWYNN
| Q4 25 | $-96.0M | $100.0M | ||
| Q3 25 | $-25.0M | $88.3M | ||
| Q2 25 | $-158.0M | $66.2M | ||
| Q1 25 | $-5.0M | $72.7M | ||
| Q4 24 | $-141.0M | $277.0M | ||
| Q3 24 | $-33.0M | $-32.1M | ||
| Q2 24 | $22.0M | $111.9M | ||
| Q1 24 | $-37.0M | $144.2M |
毛利率HUNWYNN
| 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HUNWYNN
| Q4 25 | -4.4% | 14.7% | ||
| Q3 25 | 0.4% | 16.9% | ||
| Q2 25 | -8.2% | 15.2% | ||
| Q1 25 | 3.0% | 15.8% | ||
| Q4 24 | -4.3% | 20.0% | ||
| Q3 24 | 2.7% | 7.9% | ||
| Q2 24 | 2.2% | 15.6% | ||
| Q1 24 | -2.6% | 19.5% |
净利率HUNWYNN
| Q4 25 | -7.1% | 5.4% | ||
| Q3 25 | -1.7% | 4.8% | ||
| Q2 25 | -10.8% | 3.8% | ||
| Q1 25 | -0.4% | 4.3% | ||
| Q4 24 | -9.7% | 15.1% | ||
| Q3 24 | -2.1% | -1.9% | ||
| Q2 24 | 1.4% | 6.5% | ||
| Q1 24 | -2.5% | 7.7% |
每股收益（稀释后）HUNWYNN
| Q4 25 | $-0.56 | $0.96 | ||
| Q3 25 | $-0.14 | $0.85 | ||
| Q2 25 | $-0.92 | $0.64 | ||
| Q1 25 | $-0.03 | $0.69 | ||
| Q4 24 | $-0.82 | $2.43 | ||
| Q3 24 | $-0.19 | $-0.29 | ||
| Q2 24 | $0.13 | $0.91 | ||
| Q1 24 | $-0.22 | $1.30 |
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 | $1.5B |
| 总债务越低越好 | $2.0B | $10.5B |
| 股东权益账面价值 | $2.8B | $-275.5M |
| 总资产 | $7.0B | $13.1B |
| 负债/权益比越低杠杆越低 | 0.73× | — |
8季度趋势，按日历期对齐
现金及短期投资HUNWYNN
| Q4 25 | $429.0M | $1.5B | ||
| Q3 25 | $468.0M | $1.5B | ||
| Q2 25 | $399.0M | $2.0B | ||
| Q1 25 | $334.0M | $2.1B | ||
| Q4 24 | $340.0M | $2.4B | ||
| Q3 24 | $330.0M | $2.4B | ||
| Q2 24 | $335.0M | $2.4B | ||
| Q1 24 | $552.0M | $2.4B |
总债务HUNWYNN
| Q4 25 | $2.0B | $10.5B | ||
| Q3 25 | $2.0B | $10.6B | ||
| Q2 25 | $2.0B | $10.5B | ||
| Q1 25 | $2.0B | $10.6B | ||
| Q4 24 | $1.8B | $10.5B | ||
| Q3 24 | $1.9B | $11.8B | ||
| Q2 24 | $1.9B | $11.0B | ||
| Q1 24 | $2.1B | $11.2B |
股东权益HUNWYNN
| Q4 25 | $2.8B | $-275.5M | ||
| Q3 25 | $2.8B | $-370.0M | ||
| Q2 25 | $2.8B | $-441.5M | ||
| Q1 25 | $3.0B | $-360.7M | ||
| Q4 24 | $3.0B | $-224.2M | ||
| Q3 24 | $3.1B | $-281.4M | ||
| Q2 24 | $3.1B | $-109.8M | ||
| Q1 24 | $3.2B | $-137.0M |
总资产HUNWYNN
| Q4 25 | $7.0B | $13.1B | ||
| Q3 25 | $7.1B | $12.8B | ||
| Q2 25 | $7.1B | $12.7B | ||
| Q1 25 | $7.2B | $12.7B | ||
| Q4 24 | $7.1B | $13.0B | ||
| Q3 24 | $7.3B | $14.1B | ||
| Q2 24 | $7.3B | $13.3B | ||
| Q1 24 | $7.6B | $13.5B |
负债/权益比HUNWYNN
| Q4 25 | 0.73× | — | ||
| Q3 25 | 0.73× | — | ||
| Q2 25 | 0.72× | — | ||
| Q1 25 | 0.66× | — | ||
| Q4 24 | 0.62× | — | ||
| Q3 24 | 0.60× | — | ||
| Q2 24 | 0.62× | — | ||
| Q1 24 | 0.65× | — |
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 | $478.0M |
| 自由现金流经营现金流 - 资本支出 | $19.0M | $306.8M |
| 自由现金流率自由现金流/营收 | 1.4% | 16.4% |
| 资本支出强度资本支出/营收 | 4.2% | 9.2% |
| 现金转化率经营现金流/净利润 | — | 4.78× |
| 过去12个月自由现金流最近4个季度 | $116.0M | $692.2M |
8季度趋势，按日历期对齐
经营现金流HUNWYNN
| Q4 25 | $76.0M | $478.0M | ||
| Q3 25 | $196.0M | $335.8M | ||
| Q2 25 | $91.0M | $405.1M | ||
| Q1 25 | $-74.0M | $133.8M | ||
| Q4 24 | $153.0M | $479.0M | ||
| Q3 24 | $129.0M | $279.3M | ||
| Q2 24 | $46.0M | $352.8M | ||
| Q1 24 | $-65.0M | $315.1M |
自由现金流HUNWYNN
| Q4 25 | $19.0M | $306.8M | ||
| Q3 25 | $153.0M | $171.8M | ||
| Q2 25 | $54.0M | $239.8M | ||
| Q1 25 | $-110.0M | $-26.2M | ||
| Q4 24 | $102.0M | $351.8M | ||
| Q3 24 | $88.0M | $178.0M | ||
| Q2 24 | $-4.0M | $259.1M | ||
| Q1 24 | $-107.0M | $217.4M |
自由现金流率HUNWYNN
| Q4 25 | 1.4% | 16.4% | ||
| Q3 25 | 10.5% | 9.4% | ||
| Q2 25 | 3.7% | 13.8% | ||
| Q1 25 | -7.8% | -1.5% | ||
| Q4 24 | 7.0% | 19.1% | ||
| Q3 24 | 5.7% | 10.5% | ||
| Q2 24 | -0.3% | 15.0% | ||
| Q1 24 | -7.3% | 11.7% |
资本支出强度HUNWYNN
| Q4 25 | 4.2% | 9.2% | ||
| Q3 25 | 2.9% | 8.9% | ||
| Q2 25 | 2.5% | 9.5% | ||
| Q1 25 | 2.6% | 9.4% | ||
| Q4 24 | 3.5% | 6.9% | ||
| Q3 24 | 2.7% | 6.0% | ||
| Q2 24 | 3.2% | 5.4% | ||
| Q1 24 | 2.9% | 5.2% |
现金转化率HUNWYNN
| Q4 25 | — | 4.78× | ||
| Q3 25 | — | 3.80× | ||
| Q2 25 | — | 6.12× | ||
| Q1 25 | — | 1.84× | ||
| Q4 24 | — | 1.73× | ||
| Q3 24 | — | — | ||
| Q2 24 | 2.09× | 3.15× | ||
| Q1 24 | — | 2.18× |
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% |
WYNN
| Casino | $1.1B | 61% |
| Occupancy | $305.1M | 16% |
| Food And Beverage | $264.9M | 14% |
| Entertainment Retail And Other | $152.6M | 8% |
