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国际香精香料（IFF）与露露乐蒙（LULU）财务数据对比。点击上方公司名可切换其他公司
国际香精香料的季度营收约是露露乐蒙的1.0倍（$2.6B vs $2.6B），露露乐蒙净利率更高（12.0% vs 0.2%，领先11.8%），露露乐蒙同比增速更快（7.1% vs -6.6%），国际香精香料自由现金流更多（$130.0M vs $82.4M），过去两年国际香精香料的营收复合增速更高（-5.5% vs -10.5%）
国际香精香料（IFF）是美国知名企业，业务覆盖风味、质感、香氛、营养、酶制剂、菌种、大豆蛋白、益生菌等多品类产品研发，产品行销全球。公司总部位于纽约，在44个国家设有创意、销售及生产基地，是标普500指数成分股企业。
露露乐蒙是源自美国和加拿大的跨国运动服饰零售商，1998年成立初期主打瑜伽裤及其他瑜伽服饰，目前已拓展业务至运动装备、休闲服饰、配件及个护产品，总部位于加拿大不列颠哥伦比亚省温哥华，共拥有767家线下门店，同时开设官方网站提供线上销售服务。
IFF vs LULU — 直观对比
营收规模更大
IFF
是对方的1.0倍
$2.6B
营收增速更快
LULU
高出13.6%
-6.6%
净利率更高
LULU
高出11.8%
0.2%
自由现金流更多
IFF
多$47.6M
$82.4M
两年增速更快
IFF
近两年复合增速
-10.5%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.6B | $2.6B |
| 净利润 | $5.0M | $306.8M |
| 毛利率 | 34.4% | 55.6% |
| 营业利润率 | 3.7% | 17.0% |
| 净利率 | 0.2% | 12.0% |
| 营收同比 | -6.6% | 7.1% |
| 净利润同比 | 110.9% | -12.8% |
| 每股收益（稀释后） | $0.03 | $2.59 |
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IFFLULU
| Q4 25 | $2.6B | $2.6B | ||
| Q3 25 | $2.7B | $2.5B | ||
| Q2 25 | $2.8B | $2.4B | ||
| Q1 25 | $2.8B | $3.6B | ||
| Q4 24 | $2.8B | $2.4B | ||
| Q3 24 | $2.9B | $2.4B | ||
| Q2 24 | $2.9B | $2.2B | ||
| Q1 24 | $2.9B | $3.2B |
净利润IFFLULU
| Q4 25 | $5.0M | $306.8M | ||
| Q3 25 | $40.0M | $370.9M | ||
| Q2 25 | $612.0M | $314.6M | ||
| Q1 25 | $-1.0B | $748.4M | ||
| Q4 24 | $-46.0M | $351.9M | ||
| Q3 24 | $59.0M | $392.9M | ||
| Q2 24 | $170.0M | $321.4M | ||
| Q1 24 | $60.0M | $669.5M |
毛利率IFFLULU
| Q4 25 | 34.4% | 55.6% | ||
| Q3 25 | 36.5% | 58.5% | ||
| Q2 25 | 37.3% | 58.3% | ||
| Q1 25 | 36.4% | 60.4% | ||
| Q4 24 | 35.4% | 58.5% | ||
| Q3 24 | 36.0% | 59.6% | ||
| Q2 24 | 37.0% | 57.7% | ||
| Q1 24 | 35.3% | 59.4% |
营业利润率IFFLULU
| Q4 25 | 3.7% | 17.0% | ||
| Q3 25 | 8.4% | 20.7% | ||
| Q2 25 | 7.2% | 18.5% | ||
| Q1 25 | -31.8% | 28.9% | ||
| Q4 24 | 4.6% | 20.5% | ||
| Q3 24 | 8.5% | 22.8% | ||
| Q2 24 | 6.6% | 19.6% | ||
| Q1 24 | 6.9% | 28.5% |
净利率IFFLULU
| Q4 25 | 0.2% | 12.0% | ||
| Q3 25 | 1.5% | 14.7% | ||
| Q2 25 | 22.1% | 13.3% | ||
| Q1 25 | -35.8% | 20.7% | ||
| Q4 24 | -1.7% | 14.7% | ||
| Q3 24 | 2.0% | 16.6% | ||
| Q2 24 | 5.9% | 14.6% | ||
| Q1 24 | 2.1% | 20.9% |
每股收益（稀释后）IFFLULU
| Q4 25 | $0.03 | $2.59 | ||
| Q3 25 | $0.16 | $3.10 | ||
| Q2 25 | $2.38 | $2.60 | ||
| Q1 25 | $-3.98 | $6.08 | ||
| Q4 24 | $-0.17 | $2.87 | ||
| Q3 24 | $0.23 | $3.15 | ||
| Q2 24 | $0.66 | $2.54 | ||
| Q1 24 | $0.23 | $5.28 |
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 | $590.0M | — |
| 总债务越低越好 | $5.6B | — |
| 股东权益账面价值 | $14.2B | $4.5B |
| 总资产 | $25.5B | $8.0B |
| 负债/权益比越低杠杆越低 | 0.40× | — |
8季度趋势，按日历期对齐
现金及短期投资IFFLULU
| Q4 25 | $590.0M | — | ||
| Q3 25 | $621.0M | — | ||
| Q2 25 | $816.0M | — | ||
| Q1 25 | $613.0M | — | ||
| Q4 24 | $469.0M | — | ||
| Q3 24 | $567.0M | — | ||
| Q2 24 | $671.0M | — | ||
| Q1 24 | $732.0M | — |
总债务IFFLULU
| Q4 25 | $5.6B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $8.9B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益IFFLULU
| Q4 25 | $14.2B | $4.5B | ||
| Q3 25 | $14.2B | $4.4B | ||
| Q2 25 | $14.4B | $4.3B | ||
| Q1 25 | $13.2B | $4.3B | ||
| Q4 24 | $13.9B | $4.0B | ||
| Q3 24 | $14.8B | $4.0B | ||
| Q2 24 | $14.3B | $4.2B | ||
| Q1 24 | $14.3B | $4.2B |
总资产IFFLULU
| Q4 25 | $25.5B | $8.0B | ||
| Q3 25 | $25.8B | $7.5B | ||
| Q2 25 | $26.1B | $7.4B | ||
| Q1 25 | $28.3B | $7.6B | ||
| Q4 24 | $28.7B | $7.1B | ||
| Q3 24 | $29.9B | $6.7B | ||
| Q2 24 | $29.5B | $6.8B | ||
| Q1 24 | $30.6B | $7.1B |
负债/权益比IFFLULU
| Q4 25 | 0.40× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.64× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $318.0M | $249.9M |
| 自由现金流经营现金流 - 资本支出 | $130.0M | $82.4M |
| 自由现金流率自由现金流/营收 | 5.0% | 3.2% |
| 资本支出强度资本支出/营收 | 7.3% | 6.5% |
| 现金转化率经营现金流/净利润 | 63.60× | 0.81× |
| 过去12个月自由现金流最近4个季度 | $256.0M | $1.1B |
8季度趋势，按日历期对齐
经营现金流IFFLULU
| Q4 25 | $318.0M | $249.9M | ||
| Q3 25 | $164.0M | $328.7M | ||
| Q2 25 | $241.0M | $-119.0M | ||
| Q1 25 | $127.0M | $1.4B | ||
| Q4 24 | $368.0M | $300.7M | ||
| Q3 24 | $366.0M | $443.1M | ||
| Q2 24 | $237.0M | $127.5M | ||
| Q1 24 | $99.0M | $1.4B |
自由现金流IFFLULU
| Q4 25 | $130.0M | $82.4M | ||
| Q3 25 | $32.0M | $150.8M | ||
| Q2 25 | $146.0M | $-271.2M | ||
| Q1 25 | $-52.0M | $1.2B | ||
| Q4 24 | $208.0M | $122.2M | ||
| Q3 24 | $263.0M | $298.1M | ||
| Q2 24 | $155.0M | $-3.2M | ||
| Q1 24 | $-19.0M | $1.2B |
自由现金流率IFFLULU
| Q4 25 | 5.0% | 3.2% | ||
| Q3 25 | 1.2% | 6.0% | ||
| Q2 25 | 5.3% | -11.4% | ||
| Q1 25 | -1.8% | 32.3% | ||
| Q4 24 | 7.5% | 5.1% | ||
| Q3 24 | 9.0% | 12.6% | ||
| Q2 24 | 5.4% | -0.1% | ||
| Q1 24 | -0.7% | 36.7% |
资本支出强度IFFLULU
| Q4 25 | 7.3% | 6.5% | ||
| Q3 25 | 4.9% | 7.0% | ||
| Q2 25 | 3.4% | 6.4% | ||
| Q1 25 | 6.3% | 6.5% | ||
| Q4 24 | 5.8% | 7.4% | ||
| Q3 24 | 3.5% | 6.1% | ||
| Q2 24 | 2.8% | 5.9% | ||
| Q1 24 | 4.1% | 6.4% |
现金转化率IFFLULU
| Q4 25 | 63.60× | 0.81× | ||
| Q3 25 | 4.10× | 0.89× | ||
| Q2 25 | 0.39× | -0.38× | ||
| Q1 25 | — | 1.87× | ||
| Q4 24 | — | 0.85× | ||
| Q3 24 | 6.20× | 1.13× | ||
| Q2 24 | 1.39× | 0.40× | ||
| Q1 24 | 1.65× | 2.07× |
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
IFF
| Food Ingredients | $802.0M | 31% |
| Scent | $610.0M | 24% |
| Other | $589.0M | 23% |
| Taste | $588.0M | 23% |
LULU
| Womens Apparel | $1.6B | 64% |
| Mens Apparel | $596.2M | 23% |
| Accessories And Other Categories | $324.7M | 13% |
