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Kellanova（K）与Public Service Enterprise Group（PEG）财务数据对比。点击上方公司名可切换其他公司
Kellanova的季度营收约是Public Service Enterprise Group的1.1倍（$3.3B vs $2.9B），Public Service Enterprise Group净利率更高（10.8% vs 9.5%，领先1.3%），Public Service Enterprise Group同比增速更快（18.3% vs 0.8%），Kellanova自由现金流更多（$359.0M vs $-408.0M），过去两年Public Service Enterprise Group的营收复合增速更高（2.8% vs -9.0%）
Kellanova前身为知名食品企业家乐氏，是玛氏集团旗下的美国跨国食品制造公司，总部位于美国伊利诺伊州芝加哥。2023年10月2日公司正式启用现名，同步拆分北美谷物业务，独立成立WK Kellogg Co。
PSEG（Public Service Enterprise Group）是一家公开上市的能源企业，1985年正式成立，发展渊源可追溯至1903年，自创立以来总部始终位于美国新泽西州纽瓦克市，深耕能源领域多年，在北美能源市场拥有稳定的行业地位与市场份额。
K vs PEG — 直观对比
营收规模更大
K
是对方的1.1倍
$2.9B
营收增速更快
PEG
高出17.4%
0.8%
净利率更高
PEG
高出1.3%
9.5%
自由现金流更多
K
多$767.0M
$-408.0M
两年增速更快
PEG
近两年复合增速
-9.0%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.3B | $2.9B |
| 净利润 | $309.0M | $315.0M |
| 毛利率 | 33.3% | — |
| 营业利润率 | 13.9% | 17.5% |
| 净利率 | 9.5% | 10.8% |
| 营收同比 | 0.8% | 18.3% |
| 净利润同比 | -15.8% | 10.1% |
| 每股收益（稀释后） | $0.88 | $0.63 |
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KPEG
| Q4 25 | — | $2.9B | ||
| Q3 25 | $3.3B | $3.2B | ||
| Q2 25 | $3.2B | $2.8B | ||
| Q1 25 | $3.1B | $3.2B | ||
| Q4 24 | $3.1B | $2.5B | ||
| Q3 24 | $3.2B | $2.6B | ||
| Q2 24 | $3.2B | $2.4B | ||
| Q1 24 | $3.2B | $2.8B |
净利润KPEG
| Q4 25 | — | $315.0M | ||
| Q3 25 | $309.0M | $622.0M | ||
| Q2 25 | $299.0M | $585.0M | ||
| Q1 25 | $304.0M | $589.0M | ||
| Q4 24 | $365.0M | $286.0M | ||
| Q3 24 | $367.0M | $520.0M | ||
| Q2 24 | $344.0M | $434.0M | ||
| Q1 24 | $267.0M | $532.0M |
毛利率KPEG
| Q4 25 | — | — | ||
| Q3 25 | 33.3% | — | ||
| Q2 25 | 34.0% | — | ||
| Q1 25 | 34.3% | — | ||
| Q4 24 | 37.7% | — | ||
| Q3 24 | 36.4% | — | ||
| Q2 24 | 36.4% | — | ||
| Q1 24 | 32.2% | — |
营业利润率KPEG
| Q4 25 | — | 17.5% | ||
| Q3 25 | 13.9% | 26.5% | ||
| Q2 25 | 13.7% | 29.1% | ||
| Q1 25 | 13.9% | 24.7% | ||
| Q4 24 | 17.0% | 18.1% | ||
| Q3 24 | 14.1% | 24.3% | ||
| Q2 24 | 15.4% | 24.0% | ||
| Q1 24 | 12.3% | 24.8% |
净利率KPEG
| Q4 25 | — | 10.8% | ||
| Q3 25 | 9.5% | 19.3% | ||
| Q2 25 | 9.3% | 20.9% | ||
| Q1 25 | 9.9% | 18.3% | ||
| Q4 24 | 11.7% | 11.6% | ||
| Q3 24 | 11.4% | 19.7% | ||
| Q2 24 | 10.8% | 17.9% | ||
| Q1 24 | 8.3% | 19.3% |
每股收益（稀释后）KPEG
| Q4 25 | — | $0.63 | ||
| Q3 25 | $0.88 | $1.24 | ||
| Q2 25 | $0.85 | $1.17 | ||
| Q1 25 | $0.87 | $1.18 | ||
| Q4 24 | $1.05 | $0.57 | ||
| Q3 24 | $1.05 | $1.04 | ||
| Q2 24 | $1.00 | $0.87 | ||
| Q1 24 | $0.78 | $1.06 |
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 | $240.0M | $132.0M |
| 总债务越低越好 | $4.3B | $22.5B |
| 股东权益账面价值 | $4.2B | $17.0B |
| 总资产 | $15.6B | $57.6B |
| 负债/权益比越低杠杆越低 | 1.02× | 1.33× |
8季度趋势，按日历期对齐
现金及短期投资KPEG
| Q4 25 | — | $132.0M | ||
| Q3 25 | $240.0M | $334.0M | ||
| Q2 25 | $354.0M | $186.0M | ||
| Q1 25 | $330.0M | $894.0M | ||
| Q4 24 | $694.0M | $125.0M | ||
| Q3 24 | $569.0M | $203.0M | ||
| Q2 24 | $272.0M | $113.0M | ||
| Q1 24 | $242.0M | $1.2B |
总债务KPEG
| Q4 25 | — | $22.5B | ||
| Q3 25 | $4.3B | $22.5B | ||
| Q2 25 | $4.3B | $22.6B | ||
| Q1 25 | $5.0B | $23.0B | ||
| Q4 24 | $5.0B | $21.1B | ||
| Q3 24 | $5.1B | $21.4B | ||
| Q2 24 | $5.0B | $20.5B | ||
| Q1 24 | $4.4B | $21.3B |
股东权益KPEG
| Q4 25 | — | $17.0B | ||
| Q3 25 | $4.2B | $17.0B | ||
| Q2 25 | $4.1B | $16.7B | ||
| Q1 25 | $3.9B | $16.4B | ||
| Q4 24 | $3.8B | $16.1B | ||
| Q3 24 | $3.6B | $16.1B | ||
| Q2 24 | $3.3B | $15.8B | ||
| Q1 24 | $3.2B | $15.7B |
总资产KPEG
| Q4 25 | — | $57.6B | ||
| Q3 25 | $15.6B | $56.9B | ||
| Q2 25 | $15.9B | $56.0B | ||
| Q1 25 | $15.5B | $55.6B | ||
| Q4 24 | $15.6B | $54.6B | ||
| Q3 24 | $15.8B | $54.1B | ||
| Q2 24 | $15.3B | $52.4B | ||
| Q1 24 | $15.3B | $52.4B |
负债/权益比KPEG
| Q4 25 | — | 1.33× | ||
| Q3 25 | 1.02× | 1.33× | ||
| Q2 25 | 1.05× | 1.36× | ||
| Q1 25 | 1.28× | 1.40× | ||
| Q4 24 | 1.32× | 1.31× | ||
| Q3 24 | 1.40× | 1.33× | ||
| Q2 24 | 1.51× | 1.30× | ||
| Q1 24 | 1.40× | 1.35× |
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 | $503.0M | $721.0M |
| 自由现金流经营现金流 - 资本支出 | $359.0M | $-408.0M |
| 自由现金流率自由现金流/营收 | 11.0% | -14.0% |
| 资本支出强度资本支出/营收 | 4.4% | 38.7% |
| 现金转化率经营现金流/净利润 | 1.63× | 2.29× |
| 过去12个月自由现金流最近4个季度 | $599.0M | $26.0M |
8季度趋势，按日历期对齐
经营现金流KPEG
| Q4 25 | — | $721.0M | ||
| Q3 25 | $503.0M | $1.1B | ||
| Q2 25 | $169.0M | $478.0M | ||
| Q1 25 | $116.0M | $1.0B | ||
| Q4 24 | $467.0M | $367.0M | ||
| Q3 24 | $553.0M | $623.0M | ||
| Q2 24 | $376.0M | $482.0M | ||
| Q1 24 | $364.0M | $661.0M |
自由现金流KPEG
| Q4 25 | — | $-408.0M | ||
| Q3 25 | $359.0M | $322.0M | ||
| Q2 25 | $21.0M | $-309.0M | ||
| Q1 25 | $-60.0M | $421.0M | ||
| Q4 24 | $279.0M | $-611.0M | ||
| Q3 24 | $410.0M | $-145.0M | ||
| Q2 24 | $234.0M | $-355.0M | ||
| Q1 24 | $209.0M | $-136.0M |
自由现金流率KPEG
| Q4 25 | — | -14.0% | ||
| Q3 25 | 11.0% | 10.0% | ||
| Q2 25 | 0.7% | -11.0% | ||
| Q1 25 | -1.9% | 13.1% | ||
| Q4 24 | 8.9% | -24.8% | ||
| Q3 24 | 12.7% | -5.5% | ||
| Q2 24 | 7.3% | -14.7% | ||
| Q1 24 | 6.5% | -4.9% |
资本支出强度KPEG
| Q4 25 | — | 38.7% | ||
| Q3 25 | 4.4% | 22.6% | ||
| Q2 25 | 4.6% | 28.1% | ||
| Q1 25 | 5.7% | 19.5% | ||
| Q4 24 | 6.0% | 39.7% | ||
| Q3 24 | 4.4% | 29.1% | ||
| Q2 24 | 4.4% | 34.5% | ||
| Q1 24 | 4.8% | 28.9% |
现金转化率KPEG
| Q4 25 | — | 2.29× | ||
| Q3 25 | 1.63× | 1.69× | ||
| Q2 25 | 0.57× | 0.82× | ||
| Q1 25 | 0.38× | 1.78× | ||
| Q4 24 | 1.28× | 1.28× | ||
| Q3 24 | 1.51× | 1.20× | ||
| Q2 24 | 1.09× | 1.11× | ||
| Q1 24 | 1.36× | 1.24× |
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
K
| Retail Channel Snacks | $2.0B | 62% |
| Retail Channel Cereal | $678.0M | 21% |
| Noodlesand Other | $280.0M | 9% |
| Frozen And Specialty Channels | $275.0M | 8% |
PEG
| PSEG Power Other | $1.1B | 37% |
| Electric Distribution Contracts | $929.0M | 32% |
| Gas Distribution Contracts | $840.0M | 29% |
| Other | $71.0M | 2% |
