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卡夫亨氏（KHC）与美国合众银行（USB）财务数据对比。点击上方公司名可切换其他公司
美国合众银行的季度营收约是卡夫亨氏的1.2倍（$7.4B vs $6.4B），美国合众银行净利率更高（27.8% vs 10.2%，领先17.5%），美国合众银行同比增速更快（5.1% vs -3.4%），过去两年美国合众银行的营收复合增速更高（4.7% 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。
美国合众银行是美国跨国银行机构，总部位于明尼苏达州明尼阿波利斯，在特拉华州注册成立。截至2025年为美国第五大银行，也是美国中西部规模最大的银行，被金融稳定委员会认定为系统重要性机构，旗下核心运营主体提供银行、投资、按揭等多元金融服务。
KHC vs USB — 直观对比
营收规模更大
USB
是对方的1.2倍
$6.4B
营收增速更快
USB
高出8.5%
-3.4%
净利率更高
USB
高出17.5%
10.2%
两年增速更快
USB
近两年复合增速
-0.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $6.4B | $7.4B |
| 净利润 | $651.0M | $2.0B |
| 毛利率 | 32.6% | — |
| 营业利润率 | 17.1% | 34.4% |
| 净利率 | 10.2% | 27.8% |
| 营收同比 | -3.4% | 5.1% |
| 净利润同比 | -69.5% | 23.0% |
| 每股收益（稀释后） | $0.56 | $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KHCUSB
| Q4 25 | $6.4B | $7.4B | ||
| Q3 25 | $6.2B | $7.3B | ||
| Q2 25 | $6.4B | $7.0B | ||
| Q1 25 | $6.0B | $7.0B | ||
| Q4 24 | $6.6B | $7.0B | ||
| Q3 24 | $6.4B | $6.9B | ||
| Q2 24 | $6.5B | $6.9B | ||
| Q1 24 | $6.4B | $6.7B |
净利润KHCUSB
| Q4 25 | $651.0M | $2.0B | ||
| Q3 25 | $615.0M | $2.0B | ||
| Q2 25 | $-7.8B | $1.8B | ||
| Q1 25 | $712.0M | $1.7B | ||
| Q4 24 | $2.1B | $1.7B | ||
| Q3 24 | $-290.0M | $1.7B | ||
| Q2 24 | $102.0M | $1.6B | ||
| Q1 24 | $801.0M | $1.3B |
毛利率KHCUSB
| Q4 25 | 32.6% | — | ||
| Q3 25 | 31.9% | — | ||
| Q2 25 | 34.4% | — | ||
| Q1 25 | 34.4% | — | ||
| Q4 24 | 34.1% | — | ||
| Q3 24 | 34.2% | — | ||
| Q2 24 | 35.4% | — | ||
| Q1 24 | 35.0% | — |
营业利润率KHCUSB
| Q4 25 | 17.1% | 34.4% | ||
| Q3 25 | 16.4% | 34.5% | ||
| Q2 25 | -125.5% | 32.7% | ||
| Q1 25 | 19.9% | 31.0% | ||
| Q4 24 | -0.6% | 30.1% | ||
| Q3 24 | -1.6% | 30.2% | ||
| Q2 24 | 8.1% | 29.9% | ||
| Q1 24 | 20.3% | 24.9% |
净利率KHCUSB
| Q4 25 | 10.2% | 27.8% | ||
| Q3 25 | 9.9% | 27.3% | ||
| Q2 25 | -123.2% | 25.9% | ||
| Q1 25 | 11.9% | 24.6% | ||
| Q4 24 | 32.4% | 23.7% | ||
| Q3 24 | -4.5% | 25.0% | ||
| Q2 24 | 1.6% | 23.3% | ||
| Q1 24 | 12.5% | 19.6% |
每股收益（稀释后）KHCUSB
| Q4 25 | $0.56 | $1.26 | ||
| Q3 25 | $0.52 | $1.22 | ||
| Q2 25 | $-6.60 | $1.11 | ||
| Q1 25 | $0.59 | $1.03 | ||
| Q4 24 | $1.76 | $1.01 | ||
| Q3 24 | $-0.24 | $1.03 | ||
| Q2 24 | $0.08 | $0.97 | ||
| Q1 24 | $0.66 | $0.78 |
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 | — |
| 股东权益账面价值 | $41.7B | $65.2B |
| 总资产 | $81.8B | $692.3B |
| 负债/权益比越低杠杆越低 | 0.46× | — |
8季度趋势，按日历期对齐
现金及短期投资KHCUSB
| Q4 25 | $2.6B | — | ||
| Q3 25 | $3.1B | — | ||
| Q2 25 | $2.6B | — | ||
| Q1 25 | $2.8B | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $900.0M | — | ||
| Q1 24 | $1.6B | — |
总债务KHCUSB
| Q4 25 | $19.3B | — | ||
| Q3 25 | $19.3B | — | ||
| Q2 25 | $19.3B | — | ||
| Q1 25 | $20.9B | — | ||
| Q4 24 | $19.2B | — | ||
| Q3 24 | $19.4B | — | ||
| Q2 24 | $19.3B | — | ||
| Q1 24 | $19.9B | — |
股东权益KHCUSB
| Q4 25 | $41.7B | $65.2B | ||
| Q3 25 | $41.5B | $63.3B | ||
| Q2 25 | $41.4B | $61.4B | ||
| Q1 25 | $49.5B | $60.1B | ||
| Q4 24 | $49.2B | $58.6B | ||
| Q3 24 | $48.3B | $58.9B | ||
| Q2 24 | $48.9B | $56.4B | ||
| Q1 24 | $49.5B | $55.6B |
总资产KHCUSB
| Q4 25 | $81.8B | $692.3B | ||
| Q3 25 | $81.7B | $695.4B | ||
| Q2 25 | $81.6B | $686.4B | ||
| Q1 25 | $90.3B | $676.5B | ||
| Q4 24 | $88.3B | $678.3B | ||
| Q3 24 | $88.6B | $686.5B | ||
| Q2 24 | $88.8B | $680.1B | ||
| Q1 24 | $90.3B | $683.6B |
负债/权益比KHCUSB
| Q4 25 | 0.46× | — | ||
| Q3 25 | 0.47× | — | ||
| Q2 25 | 0.47× | — | ||
| Q1 25 | 0.42× | — | ||
| Q4 24 | 0.39× | — | ||
| Q3 24 | 0.40× | — | ||
| Q2 24 | 0.39× | — | ||
| Q1 24 | 0.40× | — |
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 | $2.8B |
| 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× | 1.39× |
| 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KHCUSB
| Q4 25 | $1.4B | $2.8B | ||
| Q3 25 | $1.2B | $3.4B | ||
| Q2 25 | $1.2B | $2.0B | ||
| Q1 25 | $720.0M | $-285.0M | ||
| Q4 24 | $1.4B | $4.8B | ||
| Q3 24 | $1.1B | $972.0M | ||
| Q2 24 | $942.0M | $2.9B | ||
| Q1 24 | $771.0M | $2.7B |
自由现金流KHCUSB
| Q4 25 | $1.2B | — | ||
| Q3 25 | $986.0M | — | ||
| Q2 25 | $1.0B | — | ||
| Q1 25 | $482.0M | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $849.0M | — | ||
| Q2 24 | $693.0M | — | ||
| Q1 24 | $477.0M | — |
自由现金流率KHCUSB
| Q4 25 | 18.4% | — | ||
| Q3 25 | 15.8% | — | ||
| Q2 25 | 16.1% | — | ||
| Q1 25 | 8.0% | — | ||
| Q4 24 | 17.4% | — | ||
| Q3 24 | 13.3% | — | ||
| Q2 24 | 10.7% | — | ||
| Q1 24 | 7.4% | — |
资本支出强度KHCUSB
| Q4 25 | 3.2% | — | ||
| Q3 25 | 2.7% | — | ||
| Q2 25 | 2.9% | — | ||
| Q1 25 | 4.0% | — | ||
| Q4 24 | 3.8% | — | ||
| Q3 24 | 3.7% | — | ||
| Q2 24 | 3.8% | — | ||
| Q1 24 | 4.6% | — |
现金转化率KHCUSB
| Q4 25 | 2.11× | 1.39× | ||
| Q3 25 | 1.88× | 1.69× | ||
| Q2 25 | — | 1.12× | ||
| Q1 25 | 1.01× | -0.17× | ||
| Q4 24 | 0.65× | 2.87× | ||
| Q3 24 | — | 0.57× | ||
| Q2 24 | 9.24× | 1.79× | ||
| Q1 24 | 0.96× | 2.02× |
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% |
USB
暂无分部数据
