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国际香精香料（IFF）与皇家加勒比集团（RCL）财务数据对比。点击上方公司名可切换其他公司
皇家加勒比集团的季度营收约是国际香精香料的1.6倍（$4.3B vs $2.6B），皇家加勒比集团净利率更高（17.7% vs 0.2%，领先17.5%），皇家加勒比集团同比增速更快（13.3% vs -6.6%），国际香精香料自由现金流更多（$130.0M vs $116.0M），过去两年皇家加勒比集团的营收复合增速更高（6.9% vs -5.5%）
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。
皇家加勒比集团前身为皇家加勒比邮轮有限公司，是仅次于嘉年华公司的全球第二大邮轮运营商。集团总部位于美国佛罗里达州迈阿密，在利比里亚注册，目前全资拥有皇家加勒比国际游轮、名人邮轮、银海邮轮三大品牌，还持有途易邮轮50%的股份。
IFF vs RCL — 直观对比
营收规模更大
RCL
是对方的1.6倍
$2.6B
营收增速更快
RCL
高出19.8%
-6.6%
净利率更高
RCL
高出17.5%
0.2%
自由现金流更多
IFF
多$14.0M
$116.0M
两年增速更快
RCL
近两年复合增速
-5.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.6B | $4.3B |
| 净利润 | $5.0M | $753.0M |
| 毛利率 | 34.4% | 47.4% |
| 营业利润率 | 3.7% | 21.9% |
| 净利率 | 0.2% | 17.7% |
| 营收同比 | -6.6% | 13.3% |
| 净利润同比 | 110.9% | 36.4% |
| 每股收益（稀释后） | $0.03 | $2.76 |
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IFFRCL
| Q4 25 | $2.6B | $4.3B | ||
| Q3 25 | $2.7B | $5.1B | ||
| Q2 25 | $2.8B | $4.5B | ||
| Q1 25 | $2.8B | $4.0B | ||
| Q4 24 | $2.8B | $3.8B | ||
| Q3 24 | $2.9B | $4.9B | ||
| Q2 24 | $2.9B | $4.1B | ||
| Q1 24 | $2.9B | $3.7B |
净利润IFFRCL
| Q4 25 | $5.0M | $753.0M | ||
| Q3 25 | $40.0M | $1.6B | ||
| Q2 25 | $612.0M | $1.2B | ||
| Q1 25 | $-1.0B | $730.0M | ||
| Q4 24 | $-46.0M | $552.0M | ||
| Q3 24 | $59.0M | $1.1B | ||
| Q2 24 | $170.0M | $854.0M | ||
| Q1 24 | $60.0M | $360.0M |
毛利率IFFRCL
| Q4 25 | 34.4% | 47.4% | ||
| Q3 25 | 36.5% | 51.8% | ||
| Q2 25 | 37.3% | 49.7% | ||
| Q1 25 | 36.4% | 48.0% | ||
| Q4 24 | 35.4% | 45.4% | ||
| Q3 24 | 36.0% | 51.1% | ||
| Q2 24 | 37.0% | 47.6% | ||
| Q1 24 | 35.3% | 44.8% |
营业利润率IFFRCL
| Q4 25 | 3.7% | 21.9% | ||
| Q3 25 | 8.4% | 33.1% | ||
| Q2 25 | 7.2% | 29.3% | ||
| Q1 25 | -31.8% | 23.6% | ||
| Q4 24 | 4.6% | 16.6% | ||
| Q3 24 | 8.5% | 33.4% | ||
| Q2 24 | 6.6% | 26.7% | ||
| Q1 24 | 6.9% | 20.1% |
净利率IFFRCL
| Q4 25 | 0.2% | 17.7% | ||
| Q3 25 | 1.5% | 30.6% | ||
| Q2 25 | 22.1% | 26.7% | ||
| Q1 25 | -35.8% | 18.3% | ||
| Q4 24 | -1.7% | 14.7% | ||
| Q3 24 | 2.0% | 22.7% | ||
| Q2 24 | 5.9% | 20.8% | ||
| Q1 24 | 2.1% | 9.7% |
每股收益（稀释后）IFFRCL
| Q4 25 | $0.03 | $2.76 | ||
| Q3 25 | $0.16 | $5.74 | ||
| Q2 25 | $2.38 | $4.41 | ||
| Q1 25 | $-3.98 | $2.70 | ||
| Q4 24 | $-0.17 | $2.27 | ||
| Q3 24 | $0.23 | $4.21 | ||
| Q2 24 | $0.66 | $3.11 | ||
| Q1 24 | $0.23 | $1.35 |
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 | $590.0M | $825.0M |
| 总债务越低越好 | $5.6B | $18.2B |
| 股东权益账面价值 | $14.2B | $10.0B |
| 总资产 | $25.5B | $41.6B |
| 负债/权益比越低杠杆越低 | 0.40× | 1.81× |
8季度趋势，按日历期对齐
现金及短期投资IFFRCL
| Q4 25 | $590.0M | $825.0M | ||
| Q3 25 | $621.0M | $432.0M | ||
| Q2 25 | $816.0M | $735.0M | ||
| Q1 25 | $613.0M | $386.0M | ||
| Q4 24 | $469.0M | $388.0M | ||
| Q3 24 | $567.0M | $418.0M | ||
| Q2 24 | $671.0M | $391.0M | ||
| Q1 24 | $732.0M | $437.0M |
总债务IFFRCL
| Q4 25 | $5.6B | $18.2B | ||
| Q3 25 | — | $17.2B | ||
| Q2 25 | — | $17.6B | ||
| Q1 25 | — | $18.0B | ||
| Q4 24 | $8.9B | $18.5B | ||
| Q3 24 | — | $19.0B | ||
| Q2 24 | — | $19.8B | ||
| Q1 24 | — | $18.9B |
股东权益IFFRCL
| Q4 25 | $14.2B | $10.0B | ||
| Q3 25 | $14.2B | $10.1B | ||
| Q2 25 | $14.4B | $9.2B | ||
| Q1 25 | $13.2B | $8.0B | ||
| Q4 24 | $13.9B | $7.6B | ||
| Q3 24 | $14.8B | $7.0B | ||
| Q2 24 | $14.3B | $6.0B | ||
| Q1 24 | $14.3B | $5.2B |
总资产IFFRCL
| Q4 25 | $25.5B | $41.6B | ||
| Q3 25 | $25.8B | $40.1B | ||
| Q2 25 | $26.1B | $38.5B | ||
| Q1 25 | $28.3B | $37.5B | ||
| Q4 24 | $28.7B | $37.1B | ||
| Q3 24 | $29.9B | $37.1B | ||
| Q2 24 | $29.5B | $37.0B | ||
| Q1 24 | $30.6B | $35.2B |
负债/权益比IFFRCL
| Q4 25 | 0.40× | 1.81× | ||
| Q3 25 | — | 1.70× | ||
| Q2 25 | — | 1.92× | ||
| Q1 25 | — | 2.26× | ||
| Q4 24 | 0.64× | 2.44× | ||
| Q3 24 | — | 2.69× | ||
| Q2 24 | — | 3.29× | ||
| Q1 24 | — | 3.66× |
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 | $1.6B |
| 自由现金流经营现金流 - 资本支出 | $130.0M | $116.0M |
| 自由现金流率自由现金流/营收 | 5.0% | 2.7% |
| 资本支出强度资本支出/营收 | 7.3% | 35.4% |
| 现金转化率经营现金流/净利润 | 63.60× | 2.16× |
| 过去12个月自由现金流最近4个季度 | $256.0M | $1.2B |
8季度趋势，按日历期对齐
经营现金流IFFRCL
| Q4 25 | $318.0M | $1.6B | ||
| Q3 25 | $164.0M | $1.5B | ||
| Q2 25 | $241.0M | $1.7B | ||
| Q1 25 | $127.0M | $1.6B | ||
| Q4 24 | $368.0M | $1.5B | ||
| Q3 24 | $366.0M | $897.0M | ||
| Q2 24 | $237.0M | $1.6B | ||
| Q1 24 | $99.0M | $1.3B |
自由现金流IFFRCL
| Q4 25 | $130.0M | $116.0M | ||
| Q3 25 | $32.0M | $-989.0M | ||
| Q2 25 | $146.0M | $910.0M | ||
| Q1 25 | $-52.0M | $1.2B | ||
| Q4 24 | $208.0M | $915.0M | ||
| Q3 24 | $263.0M | $563.0M | ||
| Q2 24 | $155.0M | $-567.0M | ||
| Q1 24 | $-19.0M | $1.1B |
自由现金流率IFFRCL
| Q4 25 | 5.0% | 2.7% | ||
| Q3 25 | 1.2% | -19.2% | ||
| Q2 25 | 5.3% | 20.1% | ||
| Q1 25 | -1.8% | 30.0% | ||
| Q4 24 | 7.5% | 24.3% | ||
| Q3 24 | 9.0% | 11.5% | ||
| Q2 24 | 5.4% | -13.8% | ||
| Q1 24 | -0.7% | 29.1% |
资本支出强度IFFRCL
| Q4 25 | 7.3% | 35.4% | ||
| Q3 25 | 4.9% | 47.8% | ||
| Q2 25 | 3.4% | 18.4% | ||
| Q1 25 | 6.3% | 10.7% | ||
| Q4 24 | 5.8% | 14.7% | ||
| Q3 24 | 3.5% | 6.8% | ||
| Q2 24 | 2.8% | 52.1% | ||
| Q1 24 | 4.1% | 6.5% |
现金转化率IFFRCL
| Q4 25 | 63.60× | 2.16× | ||
| Q3 25 | 4.10× | 0.93× | ||
| Q2 25 | 0.39× | 1.44× | ||
| Q1 25 | — | 2.23× | ||
| Q4 24 | — | 2.66× | ||
| Q3 24 | 6.20× | 0.81× | ||
| Q2 24 | 1.39× | 1.84× | ||
| Q1 24 | 1.65× | 3.69× |
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% |
RCL
| Passenger | $2.9B | 69% |
| Other | $1.3B | 31% |
