vs
Kellanova（K）与Raymond James Financial（RJF）财务数据对比。点击上方公司名可切换其他公司
Raymond James Financial的季度营收约是Kellanova的1.2倍（$3.9B vs $3.3B），Raymond James Financial净利率更高（14.1% vs 9.5%，领先4.6%），Raymond James Financial同比增速更快（13.0% vs 0.8%），过去两年Raymond James Financial的营收复合增速更高（1.3% 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。
雷蒙德詹姆斯金融是美国跨国独立投资银行及金融服务机构，通过旗下子公司为个人、企业及市政主体提供多元金融服务，核心业务覆盖投资与财务规划、投资银行、资产管理等领域，总部位于美国佛罗里达州圣彼得堡。
K vs RJF — 直观对比
营收规模更大
RJF
是对方的1.2倍
$3.3B
营收增速更快
RJF
高出12.2%
0.8%
净利率更高
RJF
高出4.6%
9.5%
两年增速更快
RJF
近两年复合增速
-9.0%
损益表 — Q3 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.3B | $3.9B |
| 净利润 | $309.0M | $544.0M |
| 毛利率 | 33.3% | — |
| 营业利润率 | 13.9% | — |
| 净利率 | 9.5% | 14.1% |
| 营收同比 | 0.8% | 13.0% |
| 净利润同比 | -15.8% | 10.0% |
| 每股收益（稀释后） | $0.88 | $2.83 |
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KRJF
| Q1 26 | — | $3.9B | ||
| Q4 25 | — | $4.2B | ||
| Q3 25 | $3.3B | $4.2B | ||
| Q2 25 | $3.2B | $3.8B | ||
| Q1 25 | $3.1B | $3.8B | ||
| Q4 24 | $3.1B | $4.0B | ||
| Q3 24 | $3.2B | $4.0B | ||
| Q2 24 | $3.2B | $3.8B |
净利润KRJF
| Q1 26 | — | $544.0M | ||
| Q4 25 | — | $563.0M | ||
| Q3 25 | $309.0M | $604.0M | ||
| Q2 25 | $299.0M | $436.0M | ||
| Q1 25 | $304.0M | $495.0M | ||
| Q4 24 | $365.0M | $600.0M | ||
| Q3 24 | $367.0M | $602.0M | ||
| Q2 24 | $344.0M | $492.0M |
毛利率KRJF
| 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KRJF
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 13.9% | — | ||
| Q2 25 | 13.7% | 14.7% | ||
| Q1 25 | 13.9% | 17.5% | ||
| Q4 24 | 17.0% | 18.6% | ||
| Q3 24 | 14.1% | — | ||
| Q2 24 | 15.4% | 17.1% |
净利率KRJF
| Q1 26 | — | 14.1% | ||
| Q4 25 | — | 13.5% | ||
| Q3 25 | 9.5% | 14.4% | ||
| Q2 25 | 9.3% | 11.3% | ||
| Q1 25 | 9.9% | 12.9% | ||
| Q4 24 | 11.7% | 14.9% | ||
| Q3 24 | 11.4% | 15.0% | ||
| Q2 24 | 10.8% | 13.1% |
每股收益（稀释后）KRJF
| Q1 26 | — | $2.83 | ||
| Q4 25 | — | $2.79 | ||
| Q3 25 | $0.88 | $2.96 | ||
| Q2 25 | $0.85 | $2.12 | ||
| Q1 25 | $0.87 | $2.36 | ||
| Q4 24 | $1.05 | $2.86 | ||
| Q3 24 | $1.05 | $2.85 | ||
| Q2 24 | $1.00 | $2.31 |
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 | $5.4B |
| 总债务越低越好 | $4.3B | — |
| 股东权益账面价值 | $4.2B | $52.0M |
| 总资产 | $15.6B | $91.9B |
| 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KRJF
| Q1 26 | — | $5.4B | ||
| Q4 25 | — | $9.9B | ||
| Q3 25 | $240.0M | $11.4B | ||
| Q2 25 | $354.0M | $9.2B | ||
| Q1 25 | $330.0M | $9.7B | ||
| Q4 24 | $694.0M | $10.0B | ||
| Q3 24 | $569.0M | $11.0B | ||
| Q2 24 | $272.0M | $9.1B |
总债务KRJF
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $4.3B | — | ||
| Q2 25 | $4.3B | — | ||
| Q1 25 | $5.0B | — | ||
| Q4 24 | $5.0B | — | ||
| Q3 24 | $5.1B | — | ||
| Q2 24 | $5.0B | — |
股东权益KRJF
| Q1 26 | — | $52.0M | ||
| Q4 25 | — | $12.6B | ||
| Q3 25 | $4.2B | $12.5B | ||
| Q2 25 | $4.1B | $12.3B | ||
| Q1 25 | $3.9B | $12.2B | ||
| Q4 24 | $3.8B | $11.9B | ||
| Q3 24 | $3.6B | $11.7B | ||
| Q2 24 | $3.3B | $11.2B |
总资产KRJF
| Q1 26 | — | $91.9B | ||
| Q4 25 | — | $88.8B | ||
| Q3 25 | $15.6B | $88.2B | ||
| Q2 25 | $15.9B | $84.8B | ||
| Q1 25 | $15.5B | $83.1B | ||
| Q4 24 | $15.6B | $82.3B | ||
| Q3 24 | $15.8B | $83.0B | ||
| Q2 24 | $15.3B | $80.6B |
负债/权益比KRJF
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 1.02× | — | ||
| Q2 25 | 1.05× | — | ||
| Q1 25 | 1.28× | — | ||
| Q4 24 | 1.32× | — | ||
| Q3 24 | 1.40× | — | ||
| Q2 24 | 1.51× | — |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $359.0M | — |
| 自由现金流率自由现金流/营收 | 11.0% | — |
| 资本支出强度资本支出/营收 | 4.4% | — |
| 现金转化率经营现金流/净利润 | 1.63× | — |
| 过去12个月自由现金流最近4个季度 | $599.0M | — |
8季度趋势，按日历期对齐
经营现金流KRJF
| Q1 26 | — | — | ||
| Q4 25 | — | $-10.0M | ||
| Q3 25 | $503.0M | $796.0M | ||
| Q2 25 | $169.0M | $691.0M | ||
| Q1 25 | $116.0M | $117.0M | ||
| Q4 24 | $467.0M | $830.0M | ||
| Q3 24 | $553.0M | $510.0M | ||
| Q2 24 | $376.0M | $711.0M |
自由现金流KRJF
| Q1 26 | — | — | ||
| Q4 25 | — | $-56.0M | ||
| Q3 25 | $359.0M | $752.0M | ||
| Q2 25 | $21.0M | $634.0M | ||
| Q1 25 | $-60.0M | $71.0M | ||
| Q4 24 | $279.0M | $789.0M | ||
| Q3 24 | $410.0M | $460.0M | ||
| Q2 24 | $234.0M | $655.0M |
自由现金流率KRJF
| Q1 26 | — | — | ||
| Q4 25 | — | -1.3% | ||
| Q3 25 | 11.0% | 17.9% | ||
| Q2 25 | 0.7% | 16.5% | ||
| Q1 25 | -1.9% | 1.8% | ||
| Q4 24 | 8.9% | 19.6% | ||
| Q3 24 | 12.7% | 11.5% | ||
| Q2 24 | 7.3% | 17.4% |
资本支出强度KRJF
| Q1 26 | — | — | ||
| Q4 25 | — | 1.1% | ||
| Q3 25 | 4.4% | 1.1% | ||
| Q2 25 | 4.6% | 1.5% | ||
| Q1 25 | 5.7% | 1.2% | ||
| Q4 24 | 6.0% | 1.0% | ||
| Q3 24 | 4.4% | 1.2% | ||
| Q2 24 | 4.4% | 1.5% |
现金转化率KRJF
| Q1 26 | — | — | ||
| Q4 25 | — | -0.02× | ||
| Q3 25 | 1.63× | 1.32× | ||
| Q2 25 | 0.57× | 1.58× | ||
| Q1 25 | 0.38× | 0.24× | ||
| Q4 24 | 1.28× | 1.38× | ||
| Q3 24 | 1.51× | 0.85× | ||
| Q2 24 | 1.09× | 1.45× |
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% |
RJF
| Private Client Group | $2.8B | 73% |
| Bank | $486.0M | 13% |
| Capital Markets | $464.0M | 12% |
| Other | $99.0M | 3% |
