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Kellanova（K）与RYDER SYSTEM INC（R）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RYDER SYSTEM INC的1.0倍（$3.3B vs $3.1B），Kellanova净利率更高（9.5% vs 3.0%，领先6.5%），RYDER SYSTEM INC同比增速更快（1.0% vs 0.8%），Kellanova自由现金流更多（$359.0M vs $273.0M），过去两年RYDER SYSTEM INC的营收复合增速更高（-0.9% 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。
Ryder System Inc.是美国专业运输物流服务商，总部位于佛罗里达州科勒尔盖布尔斯，业务覆盖美国及英国，核心业务包含卡车租赁、车队管理、供应链及运输管理，同时提供车辆维保、二手车销售、专业司机派遣、电商履约与最后一公里配送等多元服务。
K vs R — 直观对比
营收规模更大
K
是对方的1.0倍
$3.1B
营收增速更快
R
高出0.2%
0.8%
净利率更高
K
高出6.5%
3.0%
自由现金流更多
K
多$86.0M
$273.0M
两年增速更快
R
近两年复合增速
-9.0%
损益表 — Q3 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.3B | $3.1B |
| 净利润 | $309.0M | $93.0M |
| 毛利率 | 33.3% | — |
| 营业利润率 | 13.9% | — |
| 净利率 | 9.5% | 3.0% |
| 营收同比 | 0.8% | 1.0% |
| 净利润同比 | -15.8% | -5.1% |
| 每股收益（稀释后） | $0.88 | $2.34 |
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KR
| Q1 26 | — | $3.1B | ||
| Q4 25 | — | $3.2B | ||
| Q3 25 | $3.3B | $3.2B | ||
| Q2 25 | $3.2B | $3.2B | ||
| Q1 25 | $3.1B | $3.1B | ||
| Q4 24 | $3.1B | $3.2B | ||
| Q3 24 | $3.2B | $3.2B | ||
| Q2 24 | $3.2B | $3.2B |
净利润KR
| Q1 26 | — | $93.0M | ||
| Q4 25 | — | $132.0M | ||
| Q3 25 | $309.0M | $138.0M | ||
| Q2 25 | $299.0M | $131.0M | ||
| Q1 25 | $304.0M | $98.0M | ||
| Q4 24 | $365.0M | $135.0M | ||
| Q3 24 | $367.0M | $142.0M | ||
| Q2 24 | $344.0M | $127.0M |
毛利率KR
| Q1 26 | — | — | ||
| 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% | — |
营业利润率KR
| Q1 26 | — | — | ||
| Q4 25 | — | 5.6% | ||
| Q3 25 | 13.9% | 6.0% | ||
| Q2 25 | 13.7% | 5.8% | ||
| Q1 25 | 13.9% | 4.3% | ||
| Q4 24 | 17.0% | 5.7% | ||
| Q3 24 | 14.1% | 5.9% | ||
| Q2 24 | 15.4% | 5.6% |
净利率KR
| Q1 26 | — | 3.0% | ||
| Q4 25 | — | 4.2% | ||
| Q3 25 | 9.5% | 4.4% | ||
| Q2 25 | 9.3% | 4.1% | ||
| Q1 25 | 9.9% | 3.1% | ||
| Q4 24 | 11.7% | 4.2% | ||
| Q3 24 | 11.4% | 4.5% | ||
| Q2 24 | 10.8% | 4.0% |
每股收益（稀释后）KR
| Q1 26 | — | $2.34 | ||
| Q4 25 | — | $3.22 | ||
| Q3 25 | $0.88 | $3.32 | ||
| Q2 25 | $0.85 | $3.13 | ||
| Q1 25 | $0.87 | $2.27 | ||
| Q4 24 | $1.05 | $3.09 | ||
| Q3 24 | $1.05 | $3.24 | ||
| Q2 24 | $1.00 | $2.84 |
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 | $182.0M |
| 总债务越低越好 | $4.3B | — |
| 股东权益账面价值 | $4.2B | $2.9B |
| 总资产 | $15.6B | — |
| 负债/权益比越低杠杆越低 | 1.02× | — |
8季度趋势，按日历期对齐
现金及短期投资KR
| Q1 26 | — | $182.0M | ||
| Q4 25 | — | $198.0M | ||
| Q3 25 | $240.0M | $189.0M | ||
| Q2 25 | $354.0M | $180.0M | ||
| Q1 25 | $330.0M | $151.0M | ||
| Q4 24 | $694.0M | $154.0M | ||
| Q3 24 | $569.0M | $162.0M | ||
| Q2 24 | $272.0M | $164.0M |
总债务KR
| Q1 26 | — | — | ||
| Q4 25 | — | $6.8B | ||
| Q3 25 | $4.3B | $7.3B | ||
| Q2 25 | $4.3B | $7.0B | ||
| Q1 25 | $5.0B | $6.7B | ||
| Q4 24 | $5.0B | $6.7B | ||
| Q3 24 | $5.1B | $6.6B | ||
| Q2 24 | $5.0B | $6.5B |
股东权益KR
| Q1 26 | — | $2.9B | ||
| Q4 25 | — | $3.1B | ||
| Q3 25 | $4.2B | $3.1B | ||
| Q2 25 | $4.1B | $3.1B | ||
| Q1 25 | $3.9B | $3.0B | ||
| Q4 24 | $3.8B | $3.1B | ||
| Q3 24 | $3.6B | $3.1B | ||
| Q2 24 | $3.3B | $3.1B |
总资产KR
| Q1 26 | — | — | ||
| Q4 25 | — | $16.4B | ||
| Q3 25 | $15.6B | $16.5B | ||
| Q2 25 | $15.9B | $16.5B | ||
| Q1 25 | $15.5B | $16.4B | ||
| Q4 24 | $15.6B | $16.7B | ||
| Q3 24 | $15.8B | $16.5B | ||
| Q2 24 | $15.3B | $16.4B |
负债/权益比KR
| Q1 26 | — | — | ||
| Q4 25 | — | 2.24× | ||
| Q3 25 | 1.02× | 2.35× | ||
| Q2 25 | 1.05× | 2.27× | ||
| Q1 25 | 1.28× | 2.21× | ||
| Q4 24 | 1.32× | 2.14× | ||
| Q3 24 | 1.40× | 2.17× | ||
| Q2 24 | 1.51× | 2.09× |
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 | $583.0M |
| 自由现金流经营现金流 - 资本支出 | $359.0M | $273.0M |
| 自由现金流率自由现金流/营收 | 11.0% | 8.7% |
| 资本支出强度资本支出/营收 | 4.4% | 13.7% |
| 现金转化率经营现金流/净利润 | 1.63× | 6.27× |
| 过去12个月自由现金流最近4个季度 | $599.0M | $595.0M |
8季度趋势，按日历期对齐
经营现金流KR
| Q1 26 | — | $583.0M | ||
| Q4 25 | — | $749.0M | ||
| Q3 25 | $503.0M | $442.0M | ||
| Q2 25 | $169.0M | $752.0M | ||
| Q1 25 | $116.0M | $651.0M | ||
| Q4 24 | $467.0M | $558.0M | ||
| Q3 24 | $553.0M | $629.0M | ||
| Q2 24 | $376.0M | $552.0M |
自由现金流KR
| Q1 26 | — | $273.0M | ||
| Q4 25 | — | $344.0M | ||
| Q3 25 | $359.0M | $-85.0M | ||
| Q2 25 | $21.0M | $63.0M | ||
| Q1 25 | $-60.0M | $137.0M | ||
| Q4 24 | $279.0M | $-201.0M | ||
| Q3 24 | $410.0M | $30.0M | ||
| Q2 24 | $234.0M | $-87.0M |
自由现金流率KR
| Q1 26 | — | 8.7% | ||
| Q4 25 | — | 10.8% | ||
| Q3 25 | 11.0% | -2.7% | ||
| Q2 25 | 0.7% | 2.0% | ||
| Q1 25 | -1.9% | 4.4% | ||
| Q4 24 | 8.9% | -6.3% | ||
| Q3 24 | 12.7% | 0.9% | ||
| Q2 24 | 7.3% | -2.7% |
资本支出强度KR
| Q1 26 | — | 13.7% | ||
| Q4 25 | — | 12.8% | ||
| Q3 25 | 4.4% | 16.6% | ||
| Q2 25 | 4.6% | 21.6% | ||
| Q1 25 | 5.7% | 16.4% | ||
| Q4 24 | 6.0% | 23.8% | ||
| Q3 24 | 4.4% | 18.9% | ||
| Q2 24 | 4.4% | 20.1% |
现金转化率KR
| Q1 26 | — | 6.27× | ||
| Q4 25 | — | 5.67× | ||
| Q3 25 | 1.63× | 3.20× | ||
| Q2 25 | 0.57× | 5.74× | ||
| Q1 25 | 0.38× | 6.64× | ||
| Q4 24 | 1.28× | 4.13× | ||
| Q3 24 | 1.51× | 4.43× | ||
| Q2 24 | 1.09× | 4.35× |
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% |
R
| Fleet Management Solutions | $1.5B | 47% |
| ChoiceLease | $878.0M | 28% |
| Dedicated Transportation Solutions | $553.0M | 18% |
| Commercial rental | $211.0M | 7% |
