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卡夫亨氏（KHC）与派克汉尼汾（PH）财务数据对比。点击上方公司名可切换其他公司
卡夫亨氏的季度营收约是派克汉尼汾的1.2倍（$6.4B vs $5.2B），派克汉尼汾同比增速更快（9.1% vs -3.4%），卡夫亨氏自由现金流更多（$1.2B vs $768.0M），过去两年派克汉尼汾的营收复合增速更高（1.0% vs -0.4%）
卡夫亨氏（股票代码：KHC）是美国大型跨国食品企业，由原卡夫食品集团与亨氏公司合并组建，在芝加哥与匹兹堡均设有总部，旗下拥有多款全球知名食品品牌，业务覆盖全球众多市场。
派克汉尼汾（常简称为派克）是一家专注于运动与控制技术的美国企业，前身为派克电器公司，总部坐落于俄亥俄州大克利夫兰都市区的梅菲尔德高地，其技术及产品广泛应用于工业制造、航空航天等多个核心领域。
KHC vs PH — 直观对比
营收规模更大
KHC
是对方的1.2倍
$5.2B
营收增速更快
PH
高出12.5%
-3.4%
自由现金流更多
KHC
多$403.0M
$768.0M
两年增速更快
PH
近两年复合增速
-0.4%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $6.4B | $5.2B |
| 净利润 | $651.0M | — |
| 毛利率 | 32.6% | 37.3% |
| 营业利润率 | 17.1% | 22.8% |
| 净利率 | 10.2% | — |
| 营收同比 | -3.4% | 9.1% |
| 净利润同比 | -69.5% | — |
| 每股收益（稀释后） | $0.56 | $6.60 |
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KHCPH
| Q4 25 | $6.4B | $5.2B | ||
| Q3 25 | $6.2B | $5.1B | ||
| Q2 25 | $6.4B | $5.2B | ||
| Q1 25 | $6.0B | $5.0B | ||
| Q4 24 | $6.6B | $4.7B | ||
| Q3 24 | $6.4B | $4.9B | ||
| Q2 24 | $6.5B | $5.2B | ||
| Q1 24 | $6.4B | $5.1B |
净利润KHCPH
| Q4 25 | $651.0M | — | ||
| Q3 25 | $615.0M | — | ||
| Q2 25 | $-7.8B | $923.6M | ||
| Q1 25 | $712.0M | $961.2M | ||
| Q4 24 | $2.1B | $948.6M | ||
| Q3 24 | $-290.0M | $698.5M | ||
| Q2 24 | $102.0M | $785.1M | ||
| Q1 24 | $801.0M | $726.7M |
毛利率KHCPH
| Q4 25 | 32.6% | 37.3% | ||
| Q3 25 | 31.9% | 37.5% | ||
| Q2 25 | 34.4% | 37.3% | ||
| Q1 25 | 34.4% | 36.9% | ||
| Q4 24 | 34.1% | 36.3% | ||
| Q3 24 | 34.2% | 36.8% | ||
| Q2 24 | 35.4% | 35.9% | ||
| Q1 24 | 35.0% | 35.4% |
营业利润率KHCPH
| Q4 25 | 17.1% | 22.8% | ||
| Q3 25 | 16.4% | 23.3% | ||
| Q2 25 | -125.5% | 22.7% | ||
| Q1 25 | 19.9% | 22.3% | ||
| Q4 24 | -0.6% | 20.9% | ||
| Q3 24 | -1.6% | 21.6% | ||
| Q2 24 | 8.1% | 21.1% | ||
| Q1 24 | 20.3% | 20.4% |
净利率KHCPH
| Q4 25 | 10.2% | — | ||
| Q3 25 | 9.9% | — | ||
| Q2 25 | -123.2% | 17.6% | ||
| Q1 25 | 11.9% | 19.4% | ||
| Q4 24 | 32.4% | 20.0% | ||
| Q3 24 | -4.5% | 14.2% | ||
| Q2 24 | 1.6% | 15.1% | ||
| Q1 24 | 12.5% | 14.3% |
每股收益（稀释后）KHCPH
| Q4 25 | $0.56 | $6.60 | ||
| Q3 25 | $0.52 | $6.29 | ||
| Q2 25 | $-6.60 | $7.16 | ||
| Q1 25 | $0.59 | $7.37 | ||
| Q4 24 | $1.76 | $7.25 | ||
| Q3 24 | $-0.24 | $5.34 | ||
| Q2 24 | $0.08 | $6.06 | ||
| Q1 24 | $0.66 | $5.56 |
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 | $2.6B | $427.0M |
| 总债务越低越好 | $19.3B | $7.5B |
| 股东权益账面价值 | $41.7B | $14.3B |
| 总资产 | $81.8B | $30.5B |
| 负债/权益比越低杠杆越低 | 0.46× | 0.52× |
8季度趋势，按日历期对齐
现金及短期投资KHCPH
| Q4 25 | $2.6B | $427.0M | ||
| Q3 25 | $3.1B | $473.0M | ||
| Q2 25 | $2.6B | $467.0M | ||
| Q1 25 | $2.8B | $408.7M | ||
| Q4 24 | $1.3B | $395.5M | ||
| Q3 24 | $1.3B | $371.1M | ||
| Q2 24 | $900.0M | $422.0M | ||
| Q1 24 | $1.6B | $415.5M |
总债务KHCPH
| Q4 25 | $19.3B | $7.5B | ||
| Q3 25 | $19.3B | $7.5B | ||
| Q2 25 | $19.3B | $7.5B | ||
| Q1 25 | $20.9B | $7.4B | ||
| Q4 24 | $19.2B | $6.7B | ||
| Q3 24 | $19.4B | $6.7B | ||
| Q2 24 | $19.3B | $7.2B | ||
| Q1 24 | $19.9B | $7.3B |
股东权益KHCPH
| Q4 25 | $41.7B | $14.3B | ||
| Q3 25 | $41.5B | $13.8B | ||
| Q2 25 | $41.4B | $13.7B | ||
| Q1 25 | $49.5B | $13.4B | ||
| Q4 24 | $49.2B | $13.1B | ||
| Q3 24 | $48.3B | $12.9B | ||
| Q2 24 | $48.9B | $12.1B | ||
| Q1 24 | $49.5B | $11.6B |
总资产KHCPH
| Q4 25 | $81.8B | $30.5B | ||
| Q3 25 | $81.7B | $30.7B | ||
| Q2 25 | $81.6B | $29.5B | ||
| Q1 25 | $90.3B | $28.9B | ||
| Q4 24 | $88.3B | $28.3B | ||
| Q3 24 | $88.6B | $29.6B | ||
| Q2 24 | $88.8B | $29.3B | ||
| Q1 24 | $90.3B | $29.6B |
负债/权益比KHCPH
| Q4 25 | 0.46× | 0.52× | ||
| Q3 25 | 0.47× | 0.54× | ||
| Q2 25 | 0.47× | 0.55× | ||
| Q1 25 | 0.42× | 0.55× | ||
| Q4 24 | 0.39× | 0.51× | ||
| Q3 24 | 0.40× | 0.52× | ||
| Q2 24 | 0.39× | 0.59× | ||
| Q1 24 | 0.40× | 0.63× |
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 | $1.4B | $862.0M |
| 自由现金流经营现金流 - 资本支出 | $1.2B | $768.0M |
| 自由现金流率自由现金流/营收 | 18.4% | 14.8% |
| 资本支出强度资本支出/营收 | 3.2% | 1.8% |
| 现金转化率经营现金流/净利润 | 2.11× | — |
| 过去12个月自由现金流最近4个季度 | $3.7B | $3.3B |
8季度趋势，按日历期对齐
经营现金流KHCPH
| Q4 25 | $1.4B | $862.0M | ||
| Q3 25 | $1.2B | $782.0M | ||
| Q2 25 | $1.2B | $1.5B | ||
| Q1 25 | $720.0M | $630.0M | ||
| Q4 24 | $1.4B | $934.8M | ||
| Q3 24 | $1.1B | $744.0M | ||
| Q2 24 | $942.0M | $1.2B | ||
| Q1 24 | $771.0M | $795.1M |
自由现金流KHCPH
| Q4 25 | $1.2B | $768.0M | ||
| Q3 25 | $986.0M | $693.0M | ||
| Q2 25 | $1.0B | $1.3B | ||
| Q1 25 | $482.0M | $542.4M | ||
| Q4 24 | $1.1B | $813.6M | ||
| Q3 24 | $849.0M | $648.7M | ||
| Q2 24 | $693.0M | $1.1B | ||
| Q1 24 | $477.0M | $715.9M |
自由现金流率KHCPH
| Q4 25 | 18.4% | 14.8% | ||
| Q3 25 | 15.8% | 13.6% | ||
| Q2 25 | 16.1% | 25.5% | ||
| Q1 25 | 8.0% | 10.9% | ||
| Q4 24 | 17.4% | 17.2% | ||
| Q3 24 | 13.3% | 13.2% | ||
| Q2 24 | 10.7% | 21.6% | ||
| Q1 24 | 7.4% | 14.1% |
资本支出强度KHCPH
| Q4 25 | 3.2% | 1.8% | ||
| Q3 25 | 2.7% | 1.8% | ||
| Q2 25 | 2.9% | 2.5% | ||
| Q1 25 | 4.0% | 1.8% | ||
| Q4 24 | 3.8% | 2.6% | ||
| Q3 24 | 3.7% | 1.9% | ||
| Q2 24 | 3.8% | 2.3% | ||
| Q1 24 | 4.6% | 1.6% |
现金转化率KHCPH
| Q4 25 | 2.11× | — | ||
| Q3 25 | 1.88× | — | ||
| Q2 25 | — | 1.59× | ||
| Q1 25 | 1.01× | 0.66× | ||
| Q4 24 | 0.65× | 0.99× | ||
| Q3 24 | — | 1.07× | ||
| Q2 24 | 9.24× | 1.58× | ||
| Q1 24 | 0.96× | 1.09× |
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
KHC
| Taste Elevation | $2.9B | 46% |
| Easy Ready Meals | $1.1B | 17% |
| Hydration | $471.0M | 7% |
| Cheese | $440.0M | 7% |
| Meats | $438.0M | 7% |
| Substantial Snacking | $351.0M | 6% |
| Desserts | $332.0M | 5% |
| Coffee | $221.0M | 3% |
| Other Platform | $127.0M | 2% |
PH
| Filtration And Engineered Materials | $1.5B | 28% |
| Other | $1.1B | 22% |
| Motion Systems | $893.0M | 17% |
| Commercial Aftermarket | $619.0M | 12% |
| Commercial Original Equipment Manufacturer | $561.0M | 11% |
| Defense Original Equipment Manufacturer | $305.0M | 6% |
| Defense Aftermarket | $221.0M | 4% |
