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Kellanova（K）与RUSH ENTERPRISES INC \TX\（RUSHA）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RUSH ENTERPRISES INC \TX\的1.9倍（$3.3B vs $1.7B），Kellanova净利率更高（9.5% vs 3.7%，领先5.8%），Kellanova同比增速更快（0.8% vs -9.0%），RUSH ENTERPRISES INC \TX\自由现金流更多（$411.6M vs $359.0M），过去两年RUSH ENTERPRISES INC \TX\的营收复合增速更高（-6.8% 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。
Rush Enterprises是总部位于美国得克萨斯州新布朗费尔斯的商用车经销商，核心业务是通过旗下Rush Truck Centers销售全新及二手卡车。2019年该公司在全美20个州运营超200家卡车中心，在加拿大设有14个网点，2020年入选财富500强榜单。
K vs RUSHA — 直观对比
营收规模更大
K
是对方的1.9倍
$1.7B
营收增速更快
K
高出9.8%
-9.0%
净利率更高
K
高出5.8%
3.7%
自由现金流更多
RUSHA
多$52.6M
$359.0M
两年增速更快
RUSHA
近两年复合增速
-9.0%
损益表 — Q3 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.3B | $1.7B |
| 净利润 | $309.0M | $61.7M |
| 毛利率 | 33.3% | 20.4% |
| 营业利润率 | 13.9% | 4.9% |
| 净利率 | 9.5% | 3.7% |
| 营收同比 | 0.8% | -9.0% |
| 净利润同比 | -15.8% | 1.8% |
| 每股收益（稀释后） | $0.88 | $0.77 |
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KRUSHA
| Q1 26 | — | $1.7B | ||
| Q4 25 | — | $1.7B | ||
| Q3 25 | $3.3B | $1.8B | ||
| Q2 25 | $3.2B | $1.8B | ||
| Q1 25 | $3.1B | $1.8B | ||
| Q4 24 | $3.1B | $1.9B | ||
| Q3 24 | $3.2B | $1.8B | ||
| Q2 24 | $3.2B | $1.9B |
净利润KRUSHA
| Q1 26 | — | $61.7M | ||
| Q4 25 | — | $64.3M | ||
| Q3 25 | $309.0M | $66.7M | ||
| Q2 25 | $299.0M | $72.4M | ||
| Q1 25 | $304.0M | $60.3M | ||
| Q4 24 | $365.0M | $74.8M | ||
| Q3 24 | $367.0M | $79.1M | ||
| Q2 24 | $344.0M | $78.7M |
毛利率KRUSHA
| Q1 26 | — | 20.4% | ||
| Q4 25 | — | 20.8% | ||
| Q3 25 | 33.3% | 21.0% | ||
| Q2 25 | 34.0% | 20.7% | ||
| Q1 25 | 34.3% | 20.3% | ||
| Q4 24 | 37.7% | 19.3% | ||
| Q3 24 | 36.4% | 21.0% | ||
| Q2 24 | 36.4% | 20.2% |
营业利润率KRUSHA
| Q1 26 | — | 4.9% | ||
| Q4 25 | — | 5.5% | ||
| Q3 25 | 13.9% | 5.6% | ||
| Q2 25 | 13.7% | 6.0% | ||
| Q1 25 | 13.9% | 5.2% | ||
| Q4 24 | 17.0% | 5.8% | ||
| Q3 24 | 14.1% | 6.7% | ||
| Q2 24 | 15.4% | 6.4% |
净利率KRUSHA
| Q1 26 | — | 3.7% | ||
| Q4 25 | — | 3.8% | ||
| Q3 25 | 9.5% | 3.7% | ||
| Q2 25 | 9.3% | 3.9% | ||
| Q1 25 | 9.9% | 3.4% | ||
| Q4 24 | 11.7% | 3.9% | ||
| Q3 24 | 11.4% | 4.4% | ||
| Q2 24 | 10.8% | 4.1% |
每股收益（稀释后）KRUSHA
| Q1 26 | — | $0.77 | ||
| Q4 25 | — | $0.81 | ||
| Q3 25 | $0.88 | $0.83 | ||
| Q2 25 | $0.85 | $0.90 | ||
| Q1 25 | $0.87 | $0.73 | ||
| Q4 24 | $1.05 | $-95.13 | ||
| Q3 24 | $1.05 | $0.97 | ||
| Q2 24 | $1.00 | $97.00 |
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 | — |
| 总债务越低越好 | $4.3B | $277.8M |
| 股东权益账面价值 | $4.2B | $2.3B |
| 总资产 | $15.6B | $4.5B |
| 负债/权益比越低杠杆越低 | 1.02× | 0.12× |
8季度趋势，按日历期对齐
现金及短期投资KRUSHA
| Q1 26 | — | — | ||
| Q4 25 | — | $212.6M | ||
| Q3 25 | $240.0M | $242.0M | ||
| Q2 25 | $354.0M | $211.1M | ||
| Q1 25 | $330.0M | $228.7M | ||
| Q4 24 | $694.0M | $228.1M | ||
| Q3 24 | $569.0M | $185.1M | ||
| Q2 24 | $272.0M | $167.3M |
总债务KRUSHA
| Q1 26 | — | $277.8M | ||
| Q4 25 | — | $274.8M | ||
| Q3 25 | $4.3B | — | ||
| Q2 25 | $4.3B | — | ||
| Q1 25 | $5.0B | — | ||
| Q4 24 | $5.0B | $408.4M | ||
| Q3 24 | $5.1B | — | ||
| Q2 24 | $5.0B | — |
股东权益KRUSHA
| Q1 26 | — | $2.3B | ||
| Q4 25 | — | $2.2B | ||
| Q3 25 | $4.2B | $2.2B | ||
| Q2 25 | $4.1B | $2.2B | ||
| Q1 25 | $3.9B | $2.2B | ||
| Q4 24 | $3.8B | $2.1B | ||
| Q3 24 | $3.6B | $2.1B | ||
| Q2 24 | $3.3B | $2.0B |
总资产KRUSHA
| Q1 26 | — | $4.5B | ||
| Q4 25 | — | $4.4B | ||
| Q3 25 | $15.6B | $4.6B | ||
| Q2 25 | $15.9B | $4.7B | ||
| Q1 25 | $15.5B | $4.7B | ||
| Q4 24 | $15.6B | $4.6B | ||
| Q3 24 | $15.8B | $4.6B | ||
| Q2 24 | $15.3B | $4.5B |
负债/权益比KRUSHA
| Q1 26 | — | 0.12× | ||
| Q4 25 | — | 0.12× | ||
| Q3 25 | 1.02× | — | ||
| Q2 25 | 1.05× | — | ||
| Q1 25 | 1.28× | — | ||
| Q4 24 | 1.32× | 0.19× | ||
| 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 | $411.6M |
| 自由现金流率自由现金流/营收 | 11.0% | 24.4% |
| 资本支出强度资本支出/营收 | 4.4% | 2.0% |
| 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 | $828.4M |
8季度趋势，按日历期对齐
经营现金流KRUSHA
| Q1 26 | — | — | ||
| Q4 25 | — | $112.9M | ||
| Q3 25 | $503.0M | $367.8M | ||
| Q2 25 | $169.0M | $227.6M | ||
| Q1 25 | $116.0M | $153.5M | ||
| Q4 24 | $467.0M | $392.3M | ||
| Q3 24 | $553.0M | $111.7M | ||
| Q2 24 | $376.0M | $270.6M |
自由现金流KRUSHA
| Q1 26 | — | $411.6M | ||
| Q4 25 | — | $31.9M | ||
| Q3 25 | $359.0M | $271.2M | ||
| Q2 25 | $21.0M | $113.8M | ||
| Q1 25 | $-60.0M | $45.1M | ||
| Q4 24 | $279.0M | $263.5M | ||
| Q3 24 | $410.0M | $-20.0M | ||
| Q2 24 | $234.0M | $177.2M |
自由现金流率KRUSHA
| Q1 26 | — | 24.4% | ||
| Q4 25 | — | 1.9% | ||
| Q3 25 | 11.0% | 15.2% | ||
| Q2 25 | 0.7% | 6.2% | ||
| Q1 25 | -1.9% | 2.6% | ||
| Q4 24 | 8.9% | 13.7% | ||
| Q3 24 | 12.7% | -1.1% | ||
| Q2 24 | 7.3% | 9.1% |
资本支出强度KRUSHA
| Q1 26 | — | 2.0% | ||
| Q4 25 | — | 4.8% | ||
| Q3 25 | 4.4% | 5.4% | ||
| Q2 25 | 4.6% | 6.2% | ||
| Q1 25 | 5.7% | 6.2% | ||
| Q4 24 | 6.0% | 6.7% | ||
| Q3 24 | 4.4% | 7.3% | ||
| Q2 24 | 4.4% | 4.8% |
现金转化率KRUSHA
| Q1 26 | — | — | ||
| Q4 25 | — | 1.75× | ||
| Q3 25 | 1.63× | 5.51× | ||
| Q2 25 | 0.57× | 3.14× | ||
| Q1 25 | 0.38× | 2.55× | ||
| Q4 24 | 1.28× | 5.25× | ||
| Q3 24 | 1.51× | 1.41× | ||
| Q2 24 | 1.09× | 3.44× |
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% |
RUSHA
| New and used commercial vehicle sales | $955.1M | 57% |
| Aftermarket products and services sales | $627.2M | 37% |
| Lease and rental sales | $92.3M | 5% |
| Finance and insurance | $5.6M | 0% |
