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Kellanova（K）与RPM INTERNATIONAL INC（RPM）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RPM INTERNATIONAL INC的1.7倍（$3.3B vs $1.9B），Kellanova净利率更高（9.5% vs 8.4%，领先1.0%），RPM INTERNATIONAL INC同比增速更快（3.5% vs 0.8%），Kellanova自由现金流更多（$359.0M vs $296.4M），过去两年RPM INTERNATIONAL INC的营收复合增速更高（12.0% 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。
BVS娱乐前身为Saban制作、Saban国际及Saban娱乐，是华特迪士尼公司旗下子公司。1980年4月24日由哈伊姆·萨班与舒基·利维创立，最初主营音乐制作，后逐步转向电视节目制作发行业务，最为知名的是为Fox Family/ABC Family及已停播的Fox Kids、Jetix频道制作发行儿童节目。
K vs RPM — 直观对比
营收规模更大
K
是对方的1.7倍
$1.9B
营收增速更快
RPM
高出2.7%
0.8%
净利率更高
K
高出1.0%
8.4%
自由现金流更多
K
多$62.6M
$296.4M
两年增速更快
RPM
近两年复合增速
-9.0%
损益表 — Q3 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.3B | $1.9B |
| 净利润 | $309.0M | $161.2M |
| 毛利率 | 33.3% | 40.8% |
| 营业利润率 | 13.9% | 11.0% |
| 净利率 | 9.5% | 8.4% |
| 营收同比 | 0.8% | 3.5% |
| 净利润同比 | -15.8% | -12.0% |
| 每股收益（稀释后） | $0.88 | $1.26 |
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KRPM
| Q4 25 | — | $1.9B | ||
| Q3 25 | $3.3B | $2.1B | ||
| Q2 25 | $3.2B | $2.1B | ||
| Q1 25 | $3.1B | $1.5B | ||
| Q4 24 | $3.1B | $1.8B | ||
| Q3 24 | $3.2B | $2.0B | ||
| Q2 24 | $3.2B | $2.0B | ||
| Q1 24 | $3.2B | $1.5B |
净利润KRPM
| Q4 25 | — | $161.2M | ||
| Q3 25 | $309.0M | $227.6M | ||
| Q2 25 | $299.0M | $225.8M | ||
| Q1 25 | $304.0M | $52.0M | ||
| Q4 24 | $365.0M | $183.2M | ||
| Q3 24 | $367.0M | $227.7M | ||
| Q2 24 | $344.0M | $180.6M | ||
| Q1 24 | $267.0M | $61.2M |
毛利率KRPM
| Q4 25 | — | 40.8% | ||
| Q3 25 | 33.3% | 42.3% | ||
| Q2 25 | 34.0% | 42.4% | ||
| Q1 25 | 34.3% | 38.4% | ||
| Q4 24 | 37.7% | 41.4% | ||
| Q3 24 | 36.4% | 42.5% | ||
| Q2 24 | 36.4% | 41.4% | ||
| Q1 24 | 32.2% | 39.9% |
营业利润率KRPM
| Q4 25 | — | 11.0% | ||
| Q3 25 | 13.9% | 14.1% | ||
| Q2 25 | 13.7% | 11.9% | ||
| Q1 25 | 13.9% | 2.8% | ||
| Q4 24 | 17.0% | 11.5% | ||
| Q3 24 | 14.1% | 14.8% | ||
| Q2 24 | 15.4% | 11.9% | ||
| Q1 24 | 12.3% | 5.5% |
净利率KRPM
| Q4 25 | — | 8.4% | ||
| Q3 25 | 9.5% | 10.8% | ||
| Q2 25 | 9.3% | 10.8% | ||
| Q1 25 | 9.9% | 3.5% | ||
| Q4 24 | 11.7% | 9.9% | ||
| Q3 24 | 11.4% | 11.6% | ||
| Q2 24 | 10.8% | 9.0% | ||
| Q1 24 | 8.3% | 4.0% |
每股收益（稀释后）KRPM
| Q4 25 | — | $1.26 | ||
| Q3 25 | $0.88 | $1.77 | ||
| Q2 25 | $0.85 | $1.76 | ||
| Q1 25 | $0.87 | $0.40 | ||
| Q4 24 | $1.05 | $1.42 | ||
| Q3 24 | $1.05 | $1.77 | ||
| Q2 24 | $1.00 | $1.40 | ||
| Q1 24 | $0.78 | $0.47 |
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 | $316.6M |
| 总债务越低越好 | $4.3B | $2.5B |
| 股东权益账面价值 | $4.2B | $3.1B |
| 总资产 | $15.6B | $7.9B |
| 负债/权益比越低杠杆越低 | 1.02× | 0.80× |
8季度趋势，按日历期对齐
现金及短期投资KRPM
| Q4 25 | — | $316.6M | ||
| Q3 25 | $240.0M | $297.1M | ||
| Q2 25 | $354.0M | $302.1M | ||
| Q1 25 | $330.0M | $241.9M | ||
| Q4 24 | $694.0M | $268.7M | ||
| Q3 24 | $569.0M | $231.6M | ||
| Q2 24 | $272.0M | $237.4M | ||
| Q1 24 | $242.0M | $248.9M |
总债务KRPM
| Q4 25 | — | $2.5B | ||
| Q3 25 | $4.3B | $2.7B | ||
| Q2 25 | $4.3B | $2.6B | ||
| Q1 25 | $5.0B | $2.1B | ||
| Q4 24 | $5.0B | $2.0B | ||
| Q3 24 | $5.1B | $2.0B | ||
| Q2 24 | $5.0B | $2.0B | ||
| Q1 24 | $4.4B | $2.2B |
股东权益KRPM
| Q4 25 | — | $3.1B | ||
| Q3 25 | $4.2B | $3.1B | ||
| Q2 25 | $4.1B | $2.9B | ||
| Q1 25 | $3.9B | $2.7B | ||
| Q4 24 | $3.8B | $2.7B | ||
| Q3 24 | $3.6B | $2.6B | ||
| Q2 24 | $3.3B | $2.5B | ||
| Q1 24 | $3.2B | $2.3B |
总资产KRPM
| Q4 25 | — | $7.9B | ||
| Q3 25 | $15.6B | $7.9B | ||
| Q2 25 | $15.9B | $7.8B | ||
| Q1 25 | $15.5B | $6.6B | ||
| Q4 24 | $15.6B | $6.7B | ||
| Q3 24 | $15.8B | $6.6B | ||
| Q2 24 | $15.3B | $6.6B | ||
| Q1 24 | $15.3B | $6.4B |
负债/权益比KRPM
| Q4 25 | — | 0.80× | ||
| Q3 25 | 1.02× | 0.87× | ||
| Q2 25 | 1.05× | 0.91× | ||
| Q1 25 | 1.28× | 0.78× | ||
| Q4 24 | 1.32× | 0.74× | ||
| Q3 24 | 1.40× | 0.77× | ||
| Q2 24 | 1.51× | 0.79× | ||
| Q1 24 | 1.40× | 0.93× |
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 | $345.7M |
| 自由现金流经营现金流 - 资本支出 | $359.0M | $296.4M |
| 自由现金流率自由现金流/营收 | 11.0% | 15.5% |
| 资本支出强度资本支出/营收 | 4.4% | 2.6% |
| 现金转化率经营现金流/净利润 | 1.63× | 2.14× |
| 过去12个月自由现金流最近4个季度 | $599.0M | $582.9M |
8季度趋势，按日历期对齐
经营现金流KRPM
| Q4 25 | — | $345.7M | ||
| Q3 25 | $503.0M | $237.5M | ||
| Q2 25 | $169.0M | $149.2M | ||
| Q1 25 | $116.0M | $91.5M | ||
| Q4 24 | $467.0M | $279.4M | ||
| Q3 24 | $553.0M | $248.1M | ||
| Q2 24 | $376.0M | $181.2M | ||
| Q1 24 | $364.0M | $173.4M |
自由现金流KRPM
| Q4 25 | — | $296.4M | ||
| Q3 25 | $359.0M | $175.0M | ||
| Q2 25 | $21.0M | $78.2M | ||
| Q1 25 | $-60.0M | $33.3M | ||
| Q4 24 | $279.0M | $229.5M | ||
| Q3 24 | $410.0M | $197.3M | ||
| Q2 24 | $234.0M | $105.3M | ||
| Q1 24 | $209.0M | $124.6M |
自由现金流率KRPM
| Q4 25 | — | 15.5% | ||
| Q3 25 | 11.0% | 8.3% | ||
| Q2 25 | 0.7% | 3.8% | ||
| Q1 25 | -1.9% | 2.3% | ||
| Q4 24 | 8.9% | 12.4% | ||
| Q3 24 | 12.7% | 10.0% | ||
| Q2 24 | 7.3% | 5.2% | ||
| Q1 24 | 6.5% | 8.2% |
资本支出强度KRPM
| Q4 25 | — | 2.6% | ||
| Q3 25 | 4.4% | 3.0% | ||
| Q2 25 | 4.6% | 3.4% | ||
| Q1 25 | 5.7% | 3.9% | ||
| Q4 24 | 6.0% | 2.7% | ||
| Q3 24 | 4.4% | 2.6% | ||
| Q2 24 | 4.4% | 3.8% | ||
| Q1 24 | 4.8% | 3.2% |
现金转化率KRPM
| Q4 25 | — | 2.14× | ||
| Q3 25 | 1.63× | 1.04× | ||
| Q2 25 | 0.57× | 0.66× | ||
| Q1 25 | 0.38× | 1.76× | ||
| Q4 24 | 1.28× | 1.53× | ||
| Q3 24 | 1.51× | 1.09× | ||
| Q2 24 | 1.09× | 1.00× | ||
| Q1 24 | 1.36× | 2.83× |
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% |
RPM
| Construction Products Group Segment | $737.4M | 39% |
| Consumer Segment | $638.6M | 33% |
| Performance Coatings Group Segment | $533.8M | 28% |
