vs
Kellanova（K）与RENAISSANCERE HOLDINGS LTD（RNR）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RENAISSANCERE HOLDINGS LTD的1.5倍（$3.3B vs $2.2B），RENAISSANCERE HOLDINGS LTD净利率更高（23.5% vs 9.5%，领先14.0%），Kellanova同比增速更快（0.8% vs -36.8%），过去两年Kellanova的营收复合增速更高（-9.0% vs -11.9%）
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。
RenaissanceRe Holdings Ltd是总部位于百慕大的保险及相关商业服务提供商，核心业务覆盖再保险、常规保险两大板块，同时运营风险相关创新投资业务，为全球客户提供专业的风险对冲与保险解决方案。
K vs RNR — 直观对比
营收规模更大
K
是对方的1.5倍
$2.2B
营收增速更快
K
高出37.6%
-36.8%
净利率更高
RNR
高出14.0%
9.5%
两年增速更快
K
近两年复合增速
-11.9%
损益表 — Q3 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.3B | $2.2B |
| 净利润 | $309.0M | $515.8M |
| 毛利率 | 33.3% | — |
| 营业利润率 | 13.9% | — |
| 净利率 | 9.5% | 23.5% |
| 营收同比 | 0.8% | -36.8% |
| 净利润同比 | -15.8% | 72.6% |
| 每股收益（稀释后） | $0.88 | $6.57 |
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KRNR
| Q1 26 | — | $2.2B | ||
| Q4 25 | — | $3.0B | ||
| Q3 25 | $3.3B | $3.2B | ||
| Q2 25 | $3.2B | $3.2B | ||
| Q1 25 | $3.1B | $3.5B | ||
| Q4 24 | $3.1B | $2.3B | ||
| Q3 24 | $3.2B | $4.0B | ||
| Q2 24 | $3.2B | $2.8B |
净利润KRNR
| Q1 26 | — | $515.8M | ||
| Q4 25 | — | $760.5M | ||
| Q3 25 | $309.0M | $916.5M | ||
| Q2 25 | $299.0M | $835.4M | ||
| Q1 25 | $304.0M | $170.0M | ||
| Q4 24 | $365.0M | $-189.7M | ||
| Q3 24 | $367.0M | $1.2B | ||
| Q2 24 | $344.0M | $503.9M |
毛利率KRNR
| 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KRNR
| Q1 26 | — | — | ||
| Q4 25 | — | 42.5% | ||
| Q3 25 | 13.9% | 46.3% | ||
| Q2 25 | 13.7% | 41.8% | ||
| Q1 25 | 13.9% | -2.0% | ||
| Q4 24 | 17.0% | -3.6% | ||
| Q3 24 | 14.1% | 43.7% | ||
| Q2 24 | 15.4% | 25.0% |
净利率KRNR
| Q1 26 | — | 23.5% | ||
| Q4 25 | — | 25.6% | ||
| Q3 25 | 9.5% | 28.7% | ||
| Q2 25 | 9.3% | 26.1% | ||
| Q1 25 | 9.9% | 4.9% | ||
| Q4 24 | 11.7% | -8.3% | ||
| Q3 24 | 11.4% | 29.8% | ||
| Q2 24 | 10.8% | 17.8% |
每股收益（稀释后）KRNR
| Q1 26 | — | $6.57 | ||
| Q4 25 | — | $16.16 | ||
| Q3 25 | $0.88 | $19.40 | ||
| Q2 25 | $0.85 | $17.20 | ||
| Q1 25 | $0.87 | $3.27 | ||
| Q4 24 | $1.05 | $-3.76 | ||
| Q3 24 | $1.05 | $22.62 | ||
| Q2 24 | $1.00 | $9.41 |
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 | $1.6B |
| 总债务越低越好 | $4.3B | — |
| 股东权益账面价值 | $4.2B | $4.3B |
| 总资产 | $15.6B | $53.7B |
| 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KRNR
| Q1 26 | — | $1.6B | ||
| Q4 25 | — | $1.7B | ||
| Q3 25 | $240.0M | $1.7B | ||
| Q2 25 | $354.0M | $1.4B | ||
| Q1 25 | $330.0M | $1.6B | ||
| Q4 24 | $694.0M | $1.7B | ||
| Q3 24 | $569.0M | $1.6B | ||
| Q2 24 | $272.0M | $1.6B |
总债务KRNR
| Q1 26 | — | — | ||
| Q4 25 | — | $2.3B | ||
| Q3 25 | $4.3B | $2.2B | ||
| Q2 25 | $4.3B | $2.3B | ||
| Q1 25 | $5.0B | $2.8B | ||
| Q4 24 | $5.0B | $1.9B | ||
| Q3 24 | $5.1B | $1.9B | ||
| Q2 24 | $5.0B | $2.0B |
股东权益KRNR
| Q1 26 | — | $4.3B | ||
| Q4 25 | — | $11.6B | ||
| Q3 25 | $4.2B | $11.5B | ||
| Q2 25 | $4.1B | $10.8B | ||
| Q1 25 | $3.9B | $10.3B | ||
| Q4 24 | $3.8B | $10.6B | ||
| Q3 24 | $3.6B | $11.2B | ||
| Q2 24 | $3.3B | $10.2B |
总资产KRNR
| Q1 26 | — | $53.7B | ||
| Q4 25 | — | $53.8B | ||
| Q3 25 | $15.6B | $54.5B | ||
| Q2 25 | $15.9B | $54.7B | ||
| Q1 25 | $15.5B | $53.6B | ||
| Q4 24 | $15.6B | $50.7B | ||
| Q3 24 | $15.8B | $52.8B | ||
| Q2 24 | $15.3B | $51.6B |
负债/权益比KRNR
| Q1 26 | — | — | ||
| Q4 25 | — | 0.20× | ||
| Q3 25 | 1.02× | 0.19× | ||
| Q2 25 | 1.05× | 0.21× | ||
| Q1 25 | 1.28× | 0.27× | ||
| Q4 24 | 1.32× | 0.18× | ||
| Q3 24 | 1.40× | 0.17× | ||
| Q2 24 | 1.51× | 0.19× |
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KRNR
| Q1 26 | — | — | ||
| Q4 25 | — | $483.0M | ||
| Q3 25 | $503.0M | $1.6B | ||
| Q2 25 | $169.0M | $1.5B | ||
| Q1 25 | $116.0M | $157.8M | ||
| Q4 24 | $467.0M | $778.9M | ||
| Q3 24 | $553.0M | $1.5B | ||
| Q2 24 | $376.0M | $1.2B |
自由现金流KRNR
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $359.0M | — | ||
| Q2 25 | $21.0M | — | ||
| Q1 25 | $-60.0M | — | ||
| Q4 24 | $279.0M | — | ||
| Q3 24 | $410.0M | — | ||
| Q2 24 | $234.0M | — |
自由现金流率KRNR
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 11.0% | — | ||
| Q2 25 | 0.7% | — | ||
| Q1 25 | -1.9% | — | ||
| Q4 24 | 8.9% | — | ||
| Q3 24 | 12.7% | — | ||
| Q2 24 | 7.3% | — |
资本支出强度KRNR
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 4.4% | — | ||
| Q2 25 | 4.6% | — | ||
| Q1 25 | 5.7% | — | ||
| Q4 24 | 6.0% | — | ||
| Q3 24 | 4.4% | — | ||
| Q2 24 | 4.4% | — |
现金转化率KRNR
| Q1 26 | — | — | ||
| Q4 25 | — | 0.64× | ||
| Q3 25 | 1.63× | 1.73× | ||
| Q2 25 | 0.57× | 1.76× | ||
| Q1 25 | 0.38× | 0.93× | ||
| Q4 24 | 1.28× | — | ||
| Q3 24 | 1.51× | 1.26× | ||
| Q2 24 | 1.09× | 2.41× |
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% |
RNR
暂无分部数据
