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金佰利（KMB）与麦当劳（MCD）财务数据对比。点击上方公司名可切换其他公司
麦当劳的季度营收约是金佰利的1.7倍（$7.0B vs $4.2B），麦当劳净利率更高（30.9% vs 16.2%，领先14.7%），麦当劳同比增速更快（9.7% vs 2.7%），过去两年麦当劳的营收复合增速更高（6.6% vs -9.0%）
金佰利是源自美国的跨国消费品及个人护理集团，主打纸质类消费品，同时生产卫生用纸制品、外科及医疗器具。旗下拥有舒洁面巾纸、高洁丝女性护理产品、好奇纸尿裤及婴儿湿巾、Scott卫生纸等知名品牌，产品销往全球多个国家和地区。
麦当劳是源自美国的知名跨国连锁快餐品牌，主营汉堡、薯条、炸鸡等快餐食品，业务覆盖全球多个国家和地区。截至2024年，其全球门店数量在所有餐饮连锁品牌中位列第二，仅次于中国本土品牌蜜雪冰城。
KMB vs MCD — 直观对比
营收规模更大
MCD
是对方的1.7倍
$4.2B
营收增速更快
MCD
高出7.0%
2.7%
净利率更高
MCD
高出14.7%
16.2%
两年增速更快
MCD
近两年复合增速
-9.0%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.2B | $7.0B |
| 净利润 | $675.0M | $2.2B |
| 毛利率 | 36.8% | — |
| 营业利润率 | 18.1% | 45.0% |
| 净利率 | 16.2% | 30.9% |
| 营收同比 | 2.7% | 9.7% |
| 净利润同比 | 17.8% | 7.3% |
| 每股收益（稀释后） | $2.00 | $3.03 |
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KMBMCD
| Q1 26 | $4.2B | — | ||
| Q4 25 | $3.3B | $7.0B | ||
| Q3 25 | $4.2B | $7.1B | ||
| Q2 25 | $4.2B | $6.8B | ||
| Q1 25 | $4.8B | $6.0B | ||
| Q4 24 | $4.9B | $6.4B | ||
| Q3 24 | $5.0B | $6.9B | ||
| Q2 24 | $5.0B | $6.5B |
净利润KMBMCD
| Q1 26 | $675.0M | — | ||
| Q4 25 | $499.0M | $2.2B | ||
| Q3 25 | $446.0M | $2.3B | ||
| Q2 25 | $509.0M | $2.3B | ||
| Q1 25 | $567.0M | $1.9B | ||
| Q4 24 | $447.0M | $2.0B | ||
| Q3 24 | $907.0M | $2.3B | ||
| Q2 24 | $544.0M | $2.0B |
毛利率KMBMCD
| Q1 26 | 36.8% | — | ||
| Q4 25 | 37.7% | — | ||
| Q3 25 | 36.0% | 90.6% | ||
| Q2 25 | 35.0% | 90.4% | ||
| Q1 25 | 35.8% | 89.6% | ||
| Q4 24 | 34.0% | — | ||
| Q3 24 | 36.0% | 90.6% | ||
| Q2 24 | 36.0% | 90.3% |
营业利润率KMBMCD
| Q1 26 | 18.1% | — | ||
| Q4 25 | 11.2% | 45.0% | ||
| Q3 25 | 15.0% | 47.4% | ||
| Q2 25 | 14.2% | 47.2% | ||
| Q1 25 | 15.9% | 44.5% | ||
| Q4 24 | 11.1% | 44.9% | ||
| Q3 24 | 23.3% | 46.4% | ||
| Q2 24 | 13.0% | 45.0% |
净利率KMBMCD
| Q1 26 | 16.2% | — | ||
| Q4 25 | 15.1% | 30.9% | ||
| Q3 25 | 10.7% | 32.2% | ||
| Q2 25 | 12.2% | 32.9% | ||
| Q1 25 | 11.7% | 31.4% | ||
| Q4 24 | 9.1% | 31.6% | ||
| Q3 24 | 18.3% | 32.8% | ||
| Q2 24 | 10.8% | 31.2% |
每股收益（稀释后）KMBMCD
| Q1 26 | $2.00 | — | ||
| Q4 25 | $1.50 | $3.03 | ||
| Q3 25 | $1.34 | $3.18 | ||
| Q2 25 | $1.53 | $3.14 | ||
| Q1 25 | $1.70 | $2.60 | ||
| Q4 24 | $1.34 | $2.80 | ||
| Q3 24 | $2.69 | $3.13 | ||
| Q2 24 | $1.61 | $2.80 |
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 | $542.0K | $774.0M |
| 总债务越低越好 | $6.5M | $40.0B |
| 股东权益账面价值 | $1.9M | $-1.8B |
| 总资产 | $17.2M | $59.5B |
| 负债/权益比越低杠杆越低 | 3.38× | — |
8季度趋势，按日历期对齐
现金及短期投资KMBMCD
| Q1 26 | $542.0K | — | ||
| Q4 25 | $688.0M | $774.0M | ||
| Q3 25 | $617.0M | $2.4B | ||
| Q2 25 | $634.0M | $1.9B | ||
| Q1 25 | $563.0M | $1.2B | ||
| Q4 24 | $1.0B | $1.1B | ||
| Q3 24 | $1.1B | $1.2B | ||
| Q2 24 | $1.2B | $792.0M |
总债务KMBMCD
| Q1 26 | $6.5M | — | ||
| Q4 25 | $6.5B | $40.0B | ||
| Q3 25 | $6.5B | — | ||
| Q2 25 | $6.5B | — | ||
| Q1 25 | $6.5B | — | ||
| Q4 24 | $6.9B | $38.4B | ||
| Q3 24 | $6.9B | — | ||
| Q2 24 | $7.2B | — |
股东权益KMBMCD
| Q1 26 | $1.9M | — | ||
| Q4 25 | $1.5B | $-1.8B | ||
| Q3 25 | $1.3B | $-2.2B | ||
| Q2 25 | $1.3B | $-2.8B | ||
| Q1 25 | $1.1B | $-3.5B | ||
| Q4 24 | $840.0M | $-3.8B | ||
| Q3 24 | $1.3B | $-5.2B | ||
| Q2 24 | $1.1B | $-4.8B |
总资产KMBMCD
| Q1 26 | $17.2M | — | ||
| Q4 25 | $17.1B | $59.5B | ||
| Q3 25 | $16.9B | $60.6B | ||
| Q2 25 | $16.8B | $59.6B | ||
| Q1 25 | $16.3B | $56.3B | ||
| Q4 24 | $16.5B | $55.2B | ||
| Q3 24 | $17.2B | $56.2B | ||
| Q2 24 | $17.3B | $53.8B |
负债/权益比KMBMCD
| Q1 26 | 3.38× | — | ||
| Q4 25 | 4.31× | — | ||
| Q3 25 | 4.86× | — | ||
| Q2 25 | 5.09× | — | ||
| Q1 25 | 5.89× | — | ||
| Q4 24 | 8.18× | — | ||
| Q3 24 | 5.36× | — | ||
| Q2 24 | 6.30× | — |
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 | — | $2.7B |
| 自由现金流经营现金流 - 资本支出 | — | $1.6B |
| 自由现金流率自由现金流/营收 | — | 23.4% |
| 资本支出强度资本支出/营收 | — | 15.1% |
| 现金转化率经营现金流/净利润 | — | 1.25× |
| 过去12个月自由现金流最近4个季度 | — | $7.2B |
8季度趋势，按日历期对齐
经营现金流KMBMCD
| Q1 26 | — | — | ||
| Q4 25 | $972.0M | $2.7B | ||
| Q3 25 | $708.0M | $3.4B | ||
| Q2 25 | $770.0M | $2.0B | ||
| Q1 25 | $327.0M | $2.4B | ||
| Q4 24 | $817.0M | $2.6B | ||
| Q3 24 | $958.0M | $2.7B | ||
| Q2 24 | $1.0B | $1.7B |
自由现金流KMBMCD
| Q1 26 | — | — | ||
| Q4 25 | $575.0M | $1.6B | ||
| Q3 25 | $368.0M | $2.4B | ||
| Q2 25 | $573.0M | $1.3B | ||
| Q1 25 | $123.0M | $1.9B | ||
| Q4 24 | $608.0M | $1.8B | ||
| Q3 24 | $798.0M | $1.9B | ||
| Q2 24 | $863.0M | $1.1B |
自由现金流率KMBMCD
| Q1 26 | — | — | ||
| Q4 25 | 17.5% | 23.4% | ||
| Q3 25 | 8.9% | 34.1% | ||
| Q2 25 | 13.8% | 18.3% | ||
| Q1 25 | 2.5% | 31.5% | ||
| Q4 24 | 12.3% | 28.6% | ||
| Q3 24 | 16.1% | 28.3% | ||
| Q2 24 | 17.2% | 16.3% |
资本支出强度KMBMCD
| Q1 26 | — | — | ||
| Q4 25 | 12.1% | 15.1% | ||
| Q3 25 | 8.2% | 14.3% | ||
| Q2 25 | 4.7% | 10.9% | ||
| Q1 25 | 4.2% | 9.3% | ||
| Q4 24 | 4.2% | 12.6% | ||
| Q3 24 | 3.2% | 11.6% | ||
| Q2 24 | 3.1% | 9.7% |
现金转化率KMBMCD
| Q1 26 | — | — | ||
| Q4 25 | 1.95× | 1.25× | ||
| Q3 25 | 1.59× | 1.50× | ||
| Q2 25 | 1.51× | 0.89× | ||
| Q1 25 | 0.58× | 1.30× | ||
| Q4 24 | 1.83× | 1.30× | ||
| Q3 24 | 1.06× | 1.21× | ||
| Q2 24 | 1.88× | 0.84× |
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
KMB
| NA | $2.7B | 64% |
| IPC | $1.5B | 36% |
MCD
| International Operated Markets | $3.6B | 51% |
| Other | $2.8B | 40% |
| International Developmental Licensed Marketsand Corporate | $633.0M | 9% |
