vs
Kellanova（K）与Rocket Companies, Inc.（RKT）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Rocket Companies, Inc.的1.2倍（$3.3B vs $2.7B），Kellanova净利率更高（9.5% vs 2.5%，领先7.0%），Rocket Companies, Inc.同比增速更快（52.2% vs 0.8%），Kellanova自由现金流更多（$359.0M vs $-1.3B），过去两年Rocket Companies, Inc.的营收复合增速更高（39.5% 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。
Rocket Companies, Inc.是美国金融科技及住房服务企业，由丹·吉尔伯特创立，总部位于密歇根州底特律市中心。公司依托旗舰子公司Rocket Mortgage跻身美国最大抵押贷款提供商行列，旗下还拥有Redfin、Forsalebyowner.com、Rocket Money等子品牌。
K vs RKT — 直观对比
营收规模更大
K
是对方的1.2倍
$2.7B
营收增速更快
RKT
高出51.3%
0.8%
净利率更高
K
高出7.0%
2.5%
自由现金流更多
K
多$1.6B
$-1.3B
两年增速更快
RKT
近两年复合增速
-9.0%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.3B | $2.7B |
| 净利润 | $309.0M | $68.0M |
| 毛利率 | 33.3% | — |
| 营业利润率 | 13.9% | 6.3% |
| 净利率 | 9.5% | 2.5% |
| 营收同比 | 0.8% | 52.2% |
| 净利润同比 | -15.8% | 100.8% |
| 每股收益（稀释后） | $0.88 | $0.10 |
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KRKT
| Q4 25 | — | $2.7B | ||
| Q3 25 | $3.3B | $1.6B | ||
| Q2 25 | $3.2B | $1.4B | ||
| Q1 25 | $3.1B | $1.0B | ||
| Q4 24 | $3.1B | $1.8B | ||
| Q3 24 | $3.2B | $646.9M | ||
| Q2 24 | $3.2B | $1.3B | ||
| Q1 24 | $3.2B | $1.4B |
净利润KRKT
| Q4 25 | — | $68.0M | ||
| Q3 25 | $309.0M | $-123.9M | ||
| Q2 25 | $299.0M | $-1.8M | ||
| Q1 25 | $304.0M | $-10.4M | ||
| Q4 24 | $365.0M | $33.9M | ||
| Q3 24 | $367.0M | $-22.0M | ||
| Q2 24 | $344.0M | $1.3M | ||
| Q1 24 | $267.0M | $16.2M |
毛利率KRKT
| Q4 25 | — | — | ||
| Q3 25 | 33.3% | — | ||
| Q2 25 | 34.0% | — | ||
| Q1 25 | 34.3% | — | ||
| Q4 24 | 37.7% | 58.9% | ||
| Q3 24 | 36.4% | -8.4% | ||
| Q2 24 | 36.4% | 47.4% | ||
| Q1 24 | 32.2% | 51.2% |
营业利润率KRKT
| Q4 25 | — | 6.3% | ||
| Q3 25 | 13.9% | -11.5% | ||
| Q2 25 | 13.7% | 1.8% | ||
| Q1 25 | 13.9% | -21.5% | ||
| Q4 24 | 17.0% | 38.1% | ||
| Q3 24 | 14.1% | -76.9% | ||
| Q2 24 | 15.4% | 14.8% | ||
| Q1 24 | 12.3% | 21.6% |
净利率KRKT
| Q4 25 | — | 2.5% | ||
| Q3 25 | 9.5% | -7.7% | ||
| Q2 25 | 9.3% | -0.1% | ||
| Q1 25 | 9.9% | -1.0% | ||
| Q4 24 | 11.7% | 1.9% | ||
| Q3 24 | 11.4% | -3.4% | ||
| Q2 24 | 10.8% | 0.1% | ||
| Q1 24 | 8.3% | 1.2% |
每股收益（稀释后）KRKT
| Q4 25 | — | $0.10 | ||
| Q3 25 | $0.88 | $-0.06 | ||
| Q2 25 | $0.85 | $-0.01 | ||
| Q1 25 | $0.87 | $-0.08 | ||
| Q4 24 | $1.05 | $0.28 | ||
| Q3 24 | $1.05 | $-0.19 | ||
| Q2 24 | $1.00 | $0.01 | ||
| Q1 24 | $0.78 | $0.11 |
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 | $2.7B |
| 总债务越低越好 | $4.3B | — |
| 股东权益账面价值 | $4.2B | $22.9B |
| 总资产 | $15.6B | $60.7B |
| 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KRKT
| Q4 25 | — | $2.7B | ||
| Q3 25 | $240.0M | $5.8B | ||
| Q2 25 | $354.0M | $5.1B | ||
| Q1 25 | $330.0M | $1.4B | ||
| Q4 24 | $694.0M | $1.3B | ||
| Q3 24 | $569.0M | $1.2B | ||
| Q2 24 | $272.0M | $1.3B | ||
| Q1 24 | $242.0M | $861.4M |
总债务KRKT
| 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 | — | ||
| Q1 24 | $4.4B | — |
股东权益KRKT
| Q4 25 | — | $22.9B | ||
| Q3 25 | $4.2B | $8.9B | ||
| Q2 25 | $4.1B | $7.4B | ||
| Q1 25 | $3.9B | $8.6B | ||
| Q4 24 | $3.8B | $9.0B | ||
| Q3 24 | $3.6B | $8.4B | ||
| Q2 24 | $3.3B | $8.8B | ||
| Q1 24 | $3.2B | $8.6B |
总资产KRKT
| Q4 25 | — | $60.7B | ||
| Q3 25 | $15.6B | $33.6B | ||
| Q2 25 | $15.9B | $30.4B | ||
| Q1 25 | $15.5B | $25.3B | ||
| Q4 24 | $15.6B | $24.5B | ||
| Q3 24 | $15.8B | $25.1B | ||
| Q2 24 | $15.3B | $23.6B | ||
| Q1 24 | $15.3B | $22.2B |
负债/权益比KRKT
| 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× | — | ||
| Q1 24 | 1.40× | — |
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 | $-1.2B |
| 自由现金流经营现金流 - 资本支出 | $359.0M | $-1.3B |
| 自由现金流率自由现金流/营收 | 11.0% | -47.2% |
| 资本支出强度资本支出/营收 | 4.4% | 1.5% |
| 现金转化率经营现金流/净利润 | 1.63× | -18.08× |
| 过去12个月自由现金流最近4个季度 | $599.0M | $-4.0B |
8季度趋势，按日历期对齐
经营现金流KRKT
| Q4 25 | — | $-1.2B | ||
| Q3 25 | $503.0M | $-50.3M | ||
| Q2 25 | $169.0M | $-1.9B | ||
| Q1 25 | $116.0M | $-797.0M | ||
| Q4 24 | $467.0M | $1.8B | ||
| Q3 24 | $553.0M | $-1.3B | ||
| Q2 24 | $376.0M | $-122.3M | ||
| Q1 24 | $364.0M | $-3.0B |
自由现金流KRKT
| Q4 25 | — | $-1.3B | ||
| Q3 25 | $359.0M | $-71.8M | ||
| Q2 25 | $21.0M | $-1.9B | ||
| Q1 25 | $-60.0M | $-811.0M | ||
| Q4 24 | $279.0M | $1.8B | ||
| Q3 24 | $410.0M | $-1.4B | ||
| Q2 24 | $234.0M | $-138.3M | ||
| Q1 24 | $209.0M | $-3.0B |
自由现金流率KRKT
| Q4 25 | — | -47.2% | ||
| Q3 25 | 11.0% | -4.5% | ||
| Q2 25 | 0.7% | -137.2% | ||
| Q1 25 | -1.9% | -78.2% | ||
| Q4 24 | 8.9% | 103.1% | ||
| Q3 24 | 12.7% | -209.6% | ||
| Q2 24 | 7.3% | -10.6% | ||
| Q1 24 | 6.5% | -218.7% |
资本支出强度KRKT
| Q4 25 | — | 1.5% | ||
| Q3 25 | 4.4% | 1.3% | ||
| Q2 25 | 4.6% | 1.1% | ||
| Q1 25 | 5.7% | 1.4% | ||
| Q4 24 | 6.0% | 1.1% | ||
| Q3 24 | 4.4% | 2.9% | ||
| Q2 24 | 4.4% | 1.2% | ||
| Q1 24 | 4.8% | 1.0% |
现金转化率KRKT
| Q4 25 | — | -18.08× | ||
| Q3 25 | 1.63× | — | ||
| Q2 25 | 0.57× | — | ||
| Q1 25 | 0.38× | — | ||
| Q4 24 | 1.28× | 54.42× | ||
| Q3 24 | 1.51× | — | ||
| Q2 24 | 1.09× | -94.46× | ||
| Q1 24 | 1.36× | -185.80× |
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% |
RKT
| Other | $1.4B | 51% |
| Direct To Customer Segment | $945.8M | 35% |
| Partner Network Segment | $216.7M | 8% |
| Subscription Revenue | $91.3M | 3% |
| Closing Fees | $47.1M | 2% |
| Appraisal Revenue | $10.7M | 0% |
