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宜瑞安（INGR）与QVC INC（QVCD）财务数据对比。点击上方公司名可切换其他公司
QVC INC的季度营收约是宜瑞安的1.4倍（$2.4B vs $1.8B），宜瑞安净利率更高（9.5% vs 1.5%，领先8.0%），宜瑞安同比增速更快（-2.4% vs -8.9%），过去两年QVC INC的营收复合增速更高（7.1% vs -3.4%）
宜瑞安（Ingredion Inc.）是总部位于美国伊利诺伊州的食品饮料配料供应商，主打产品包括淀粉、非转基因甜味剂、甜菊糖、豌豆蛋白等，以玉米、木薯、马铃薯、谷物、果蔬等为原料，产品供应食品、饮料、酿造、制药等多个行业，在全球44个站点拥有约1.2万名员工，客户覆盖超120个国家。
QVC集团是一家美国媒体 conglomerate，由公司董事长约翰·C·马龙控股，马龙持有该集团多数有表决权股份，业务覆盖媒体相关领域，是美国颇具影响力的传媒企业集团。
INGR vs QVCD — 直观对比
营收规模更大
QVCD
是对方的1.4倍
$1.8B
营收增速更快
INGR
高出6.6%
-8.9%
净利率更高
INGR
高出8.0%
1.5%
两年增速更快
QVCD
近两年复合增速
-3.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $2.4B |
| 净利润 | $167.0M | $37.0M |
| 毛利率 | 24.5% | 32.5% |
| 营业利润率 | 12.5% | 5.6% |
| 净利率 | 9.5% | 1.5% |
| 营收同比 | -2.4% | -8.9% |
| 净利润同比 | 72.2% | 103.0% |
| 每股收益（稀释后） | $2.58 | — |
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INGRQVCD
| Q4 25 | $1.8B | $2.4B | ||
| Q3 25 | $1.8B | $2.0B | ||
| Q2 25 | $1.8B | $2.0B | ||
| Q1 25 | $1.8B | $1.9B | ||
| Q4 24 | $1.8B | $2.7B | ||
| Q3 24 | $1.9B | $2.1B | ||
| Q2 24 | $1.9B | $2.1B | ||
| Q1 24 | $1.9B | $2.1B |
净利润INGRQVCD
| Q4 25 | $167.0M | $37.0M | ||
| Q3 25 | $171.0M | $2.0M | ||
| Q2 25 | $196.0M | $-2.2B | ||
| Q1 25 | $197.0M | $-42.0M | ||
| Q4 24 | $97.0M | $-1.2B | ||
| Q3 24 | $188.0M | $51.0M | ||
| Q2 24 | $148.0M | $53.0M | ||
| Q1 24 | $216.0M | $51.0M |
毛利率INGRQVCD
| Q4 25 | 24.5% | 32.5% | ||
| Q3 25 | 25.1% | 33.6% | ||
| Q2 25 | 26.0% | 35.4% | ||
| Q1 25 | 25.7% | 33.3% | ||
| Q4 24 | 24.9% | 32.6% | ||
| Q3 24 | 25.6% | 34.7% | ||
| Q2 24 | 23.7% | 35.6% | ||
| Q1 24 | 22.2% | 35.0% |
营业利润率INGRQVCD
| Q4 25 | 12.5% | 5.6% | ||
| Q3 25 | 13.7% | 4.6% | ||
| Q2 25 | 14.8% | -114.5% | ||
| Q1 25 | 15.2% | 1.5% | ||
| Q4 24 | 9.0% | -47.1% | ||
| Q3 24 | 14.3% | 7.8% | ||
| Q2 24 | 12.8% | 7.6% | ||
| Q1 24 | 11.3% | 7.4% |
净利率INGRQVCD
| Q4 25 | 9.5% | 1.5% | ||
| Q3 25 | 9.4% | 0.1% | ||
| Q2 25 | 10.7% | -109.1% | ||
| Q1 25 | 10.9% | -2.2% | ||
| Q4 24 | 5.4% | -46.0% | ||
| Q3 24 | 10.1% | 2.4% | ||
| Q2 24 | 7.9% | 2.5% | ||
| Q1 24 | 11.5% | 2.4% |
每股收益（稀释后）INGRQVCD
| Q4 25 | $2.58 | — | ||
| Q3 25 | $2.61 | — | ||
| Q2 25 | $2.99 | — | ||
| Q1 25 | $3.00 | — | ||
| Q4 24 | $1.43 | — | ||
| Q3 24 | $2.83 | — | ||
| Q2 24 | $2.22 | — | ||
| Q1 24 | $3.23 | — |
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 | $1.0B | $1.5B |
| 总债务越低越好 | — | $1.0M |
| 股东权益账面价值 | $4.3B | $1.2B |
| 总资产 | $7.9B | $8.5B |
| 负债/权益比越低杠杆越低 | — | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资INGRQVCD
| Q4 25 | $1.0B | $1.5B | ||
| Q3 25 | $915.0M | — | ||
| Q2 25 | $861.0M | — | ||
| Q1 25 | $837.0M | — | ||
| Q4 24 | $997.0M | $297.0M | ||
| Q3 24 | $877.0M | $297.0M | ||
| Q2 24 | $505.0M | $315.0M | ||
| Q1 24 | $438.0M | $311.0M |
总债务INGRQVCD
| Q4 25 | — | $1.0M | ||
| Q3 25 | — | $5.0B | ||
| Q2 25 | — | $4.0B | ||
| Q1 25 | — | $4.0B | ||
| Q4 24 | — | $3.3B | ||
| Q3 24 | — | $3.4B | ||
| Q2 24 | — | $3.7B | ||
| Q1 24 | — | $3.8B |
股东权益INGRQVCD
| Q4 25 | $4.3B | $1.2B | ||
| Q3 25 | $4.2B | $1.2B | ||
| Q2 25 | $4.2B | $1.2B | ||
| Q1 25 | $4.0B | $3.3B | ||
| Q4 24 | $3.8B | $3.3B | ||
| Q3 24 | $4.0B | $4.6B | ||
| Q2 24 | $3.7B | $4.3B | ||
| Q1 24 | $3.7B | $4.2B |
总资产INGRQVCD
| Q4 25 | $7.9B | $8.5B | ||
| Q3 25 | $7.8B | $8.3B | ||
| Q2 25 | $7.8B | $7.4B | ||
| Q1 25 | $7.5B | $9.7B | ||
| Q4 24 | $7.4B | $9.9B | ||
| Q3 24 | $7.5B | $9.9B | ||
| Q2 24 | $7.2B | $11.2B | ||
| Q1 24 | $7.3B | $11.4B |
负债/权益比INGRQVCD
| Q4 25 | — | 0.00× | ||
| Q3 25 | — | 4.30× | ||
| Q2 25 | — | 3.42× | ||
| Q1 25 | — | 1.22× | ||
| Q4 24 | — | 1.01× | ||
| Q3 24 | — | 0.73× | ||
| Q2 24 | — | 0.87× | ||
| Q1 24 | — | 0.89× |
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 | $405.0M | $245.0M |
| 自由现金流经营现金流 - 资本支出 | $270.0M | — |
| 自由现金流率自由现金流/营收 | 15.4% | — |
| 资本支出强度资本支出/营收 | 7.7% | — |
| 现金转化率经营现金流/净利润 | 2.43× | 6.62× |
| 过去12个月自由现金流最近4个季度 | $511.0M | — |
8季度趋势，按日历期对齐
经营现金流INGRQVCD
| Q4 25 | $405.0M | $245.0M | ||
| Q3 25 | $277.0M | $76.0M | ||
| Q2 25 | $185.0M | $52.0M | ||
| Q1 25 | $77.0M | $46.0M | ||
| Q4 24 | $436.0M | $189.0M | ||
| Q3 24 | $479.0M | $98.0M | ||
| Q2 24 | $312.0M | $164.0M | ||
| Q1 24 | $209.0M | $84.0M |
自由现金流INGRQVCD
| Q4 25 | $270.0M | — | ||
| Q3 25 | $172.0M | — | ||
| Q2 25 | $84.0M | — | ||
| Q1 25 | $-15.0M | — | ||
| Q4 24 | $311.0M | — | ||
| Q3 24 | $429.0M | — | ||
| Q2 24 | $257.0M | — | ||
| Q1 24 | $144.0M | — |
自由现金流率INGRQVCD
| Q4 25 | 15.4% | — | ||
| Q3 25 | 9.5% | — | ||
| Q2 25 | 4.6% | — | ||
| Q1 25 | -0.8% | — | ||
| Q4 24 | 17.3% | — | ||
| Q3 24 | 22.9% | — | ||
| Q2 24 | 13.7% | — | ||
| Q1 24 | 7.7% | — |
资本支出强度INGRQVCD
| Q4 25 | 7.7% | — | ||
| Q3 25 | 5.8% | — | ||
| Q2 25 | 5.5% | — | ||
| Q1 25 | 5.1% | — | ||
| Q4 24 | 6.9% | — | ||
| Q3 24 | 2.7% | — | ||
| Q2 24 | 2.9% | — | ||
| Q1 24 | 3.5% | — |
现金转化率INGRQVCD
| Q4 25 | 2.43× | 6.62× | ||
| Q3 25 | 1.62× | 38.00× | ||
| Q2 25 | 0.94× | — | ||
| Q1 25 | 0.39× | — | ||
| Q4 24 | 4.49× | — | ||
| Q3 24 | 2.55× | 1.92× | ||
| Q2 24 | 2.11× | 3.09× | ||
| Q1 24 | 0.97× | 1.65× |
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
INGR
| Food And Industrial Ingredients LATAM Segment | $599.0M | 34% |
| Texture And Healthful Solutions Segment | $598.0M | 34% |
| Food And Industrial Ingredients U.S.Canada Segment | $486.0M | 28% |
| Other | $74.0M | 4% |
QVCD
| Home | $754.0M | 31% |
| QVC International | $661.0M | 27% |
| Beauty | $260.0M | 11% |
| Apparel | $254.0M | 10% |
| Electronics | $187.0M | 8% |
| Accessories | $181.0M | 7% |
| Jewelry | $87.0M | 4% |
| Otherrevenue | $38.0M | 2% |
