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卡夫亨氏（KHC）与Smurfit Westrock（SW）财务数据对比。点击上方公司名可切换其他公司
Smurfit Westrock的季度营收约是卡夫亨氏的1.2倍（$7.7B vs $6.4B），卡夫亨氏净利率更高（10.2% vs 0.8%，领先9.4%），Smurfit Westrock同比增速更快（0.7% vs -3.4%），过去两年Smurfit Westrock的营收复合增速更高（61.2% 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。
Smurfit Westrock plc是总部位于爱尔兰都柏林的企业，核心业务为生产瓦楞包装及各类纸制包装产品，公司股票同时在纽约证券交易所和伦敦证券交易所挂牌上市。
KHC vs SW — 直观对比
营收规模更大
SW
是对方的1.2倍
$6.4B
营收增速更快
SW
高出4.1%
-3.4%
净利率更高
KHC
高出9.4%
0.8%
两年增速更快
SW
近两年复合增速
-0.4%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $6.4B | $7.7B |
| 净利润 | $651.0M | $63.0M |
| 毛利率 | 32.6% | 16.4% |
| 营业利润率 | 17.1% | 3.3% |
| 净利率 | 10.2% | 0.8% |
| 营收同比 | -3.4% | 0.7% |
| 净利润同比 | -69.5% | 0.0% |
| 每股收益（稀释后） | $0.56 | $0.12 |
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KHCSW
| Q1 26 | — | $7.7B | ||
| Q4 25 | $6.4B | $7.6B | ||
| Q3 25 | $6.2B | $8.0B | ||
| Q2 25 | $6.4B | $7.9B | ||
| Q1 25 | $6.0B | $7.7B | ||
| Q4 24 | $6.6B | $7.5B | ||
| Q3 24 | $6.4B | $7.7B | ||
| Q2 24 | $6.5B | $3.0B |
净利润KHCSW
| Q1 26 | — | $63.0M | ||
| Q4 25 | $651.0M | $97.0M | ||
| Q3 25 | $615.0M | $246.0M | ||
| Q2 25 | $-7.8B | $-28.0M | ||
| Q1 25 | $712.0M | $384.0M | ||
| Q4 24 | $2.1B | $146.0M | ||
| Q3 24 | $-290.0M | $-150.0M | ||
| Q2 24 | $102.0M | $132.0M |
毛利率KHCSW
| Q1 26 | — | 16.4% | ||
| Q4 25 | 32.6% | 18.2% | ||
| Q3 25 | 31.9% | 19.6% | ||
| Q2 25 | 34.4% | 19.1% | ||
| Q1 25 | 34.4% | 20.6% | ||
| Q4 24 | 34.1% | 19.1% | ||
| Q3 24 | 34.2% | 17.6% | ||
| Q2 24 | 35.4% | 23.3% |
营业利润率KHCSW
| Q1 26 | — | 3.3% | ||
| Q4 25 | 17.1% | 5.1% | ||
| Q3 25 | 16.4% | 6.6% | ||
| Q2 25 | -125.5% | 3.2% | ||
| Q1 25 | 19.9% | 7.2% | ||
| Q4 24 | -0.6% | 5.3% | ||
| Q3 24 | -1.6% | 0.7% | ||
| Q2 24 | 8.1% | 8.2% |
净利率KHCSW
| Q1 26 | — | 0.8% | ||
| Q4 25 | 10.2% | 1.3% | ||
| Q3 25 | 9.9% | 3.1% | ||
| Q2 25 | -123.2% | -0.4% | ||
| Q1 25 | 11.9% | 5.0% | ||
| Q4 24 | 32.4% | 1.9% | ||
| Q3 24 | -4.5% | -2.0% | ||
| Q2 24 | 1.6% | 4.4% |
每股收益（稀释后）KHCSW
| Q1 26 | — | $0.12 | ||
| Q4 25 | $0.56 | $0.18 | ||
| Q3 25 | $0.52 | $0.47 | ||
| Q2 25 | $-6.60 | $-0.05 | ||
| Q1 25 | $0.59 | $0.73 | ||
| Q4 24 | $1.76 | $-0.12 | ||
| Q3 24 | $-0.24 | $-0.30 | ||
| Q2 24 | $0.08 | $0.51 |
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 | — |
| 总债务越低越好 | $19.3B | $980.0M |
| 股东权益账面价值 | $41.7B | $18.1B |
| 总资产 | $81.8B | $45.2B |
| 负债/权益比越低杠杆越低 | 0.46× | 0.05× |
8季度趋势，按日历期对齐
现金及短期投资KHCSW
| Q1 26 | — | — | ||
| Q4 25 | $2.6B | $892.0M | ||
| Q3 25 | $3.1B | $851.0M | ||
| Q2 25 | $2.6B | $778.0M | ||
| Q1 25 | $2.8B | $797.0M | ||
| Q4 24 | $1.3B | $855.0M | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $900.0M | $26.8K |
总债务KHCSW
| Q1 26 | — | $980.0M | ||
| Q4 25 | $19.3B | $13.4B | ||
| Q3 25 | $19.3B | $13.3B | ||
| Q2 25 | $19.3B | $13.3B | ||
| Q1 25 | $20.9B | $12.9B | ||
| Q4 24 | $19.2B | $12.5B | ||
| Q3 24 | $19.4B | $13.2B | ||
| Q2 24 | $19.3B | — |
股东权益KHCSW
| Q1 26 | — | $18.1B | ||
| Q4 25 | $41.7B | $18.3B | ||
| Q3 25 | $41.5B | $18.4B | ||
| Q2 25 | $41.4B | $18.3B | ||
| Q1 25 | $49.5B | $17.9B | ||
| Q4 24 | $49.2B | $17.4B | ||
| Q3 24 | $48.3B | $18.0B | ||
| Q2 24 | $48.9B | $14.5K |
总资产KHCSW
| Q1 26 | — | $45.2B | ||
| Q4 25 | $81.8B | $45.2B | ||
| Q3 25 | $81.7B | $45.6B | ||
| Q2 25 | $81.6B | $45.7B | ||
| Q1 25 | $90.3B | $44.6B | ||
| Q4 24 | $88.3B | $43.8B | ||
| Q3 24 | $88.6B | $45.0B | ||
| Q2 24 | $88.8B | $26.8K |
负债/权益比KHCSW
| Q1 26 | — | 0.05× | ||
| Q4 25 | 0.46× | 0.73× | ||
| Q3 25 | 0.47× | 0.72× | ||
| Q2 25 | 0.47× | 0.73× | ||
| Q1 25 | 0.42× | 0.72× | ||
| Q4 24 | 0.39× | 0.72× | ||
| Q3 24 | 0.40× | 0.73× | ||
| Q2 24 | 0.39× | — |
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 | $204.0M |
| 自由现金流经营现金流 - 资本支出 | $1.2B | — |
| 自由现金流率自由现金流/营收 | 18.4% | — |
| 资本支出强度资本支出/营收 | 3.2% | — |
| 现金转化率经营现金流/净利润 | 2.11× | 3.24× |
| 过去12个月自由现金流最近4个季度 | $3.7B | — |
8季度趋势，按日历期对齐
经营现金流KHCSW
| Q1 26 | — | $204.0M | ||
| Q4 25 | $1.4B | $1.2B | ||
| Q3 25 | $1.2B | $1.1B | ||
| Q2 25 | $1.2B | $829.0M | ||
| Q1 25 | $720.0M | $235.0M | ||
| Q4 24 | $1.4B | $781.0M | ||
| Q3 24 | $1.1B | $320.0M | ||
| Q2 24 | $942.0M | $340.0M |
自由现金流KHCSW
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | $612.0M | ||
| Q3 25 | $986.0M | $523.0M | ||
| Q2 25 | $1.0B | $307.0M | ||
| Q1 25 | $482.0M | $-242.0M | ||
| Q4 24 | $1.1B | $212.0M | ||
| Q3 24 | $849.0M | $-192.0M | ||
| Q2 24 | $693.0M | $163.0M |
自由现金流率KHCSW
| Q1 26 | — | — | ||
| Q4 25 | 18.4% | 8.1% | ||
| Q3 25 | 15.8% | 6.5% | ||
| Q2 25 | 16.1% | 3.9% | ||
| Q1 25 | 8.0% | -3.2% | ||
| Q4 24 | 17.4% | 2.8% | ||
| Q3 24 | 13.3% | -2.5% | ||
| Q2 24 | 10.7% | 5.5% |
资本支出强度KHCSW
| Q1 26 | — | — | ||
| Q4 25 | 3.2% | 7.7% | ||
| Q3 25 | 2.7% | 7.6% | ||
| Q2 25 | 2.9% | 6.6% | ||
| Q1 25 | 4.0% | 6.2% | ||
| Q4 24 | 3.8% | 7.5% | ||
| Q3 24 | 3.7% | 6.7% | ||
| Q2 24 | 3.8% | 6.0% |
现金转化率KHCSW
| Q1 26 | — | 3.24× | ||
| Q4 25 | 2.11× | 12.32× | ||
| Q3 25 | 1.88× | 4.61× | ||
| Q2 25 | — | — | ||
| Q1 25 | 1.01× | 0.61× | ||
| Q4 24 | 0.65× | 5.35× | ||
| Q3 24 | — | — | ||
| Q2 24 | 9.24× | 2.58× |
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% |
SW
暂无分部数据
