vs
金佰利（KMB）与SHOPIFY INC.（SHOP）财务数据对比。点击上方公司名可切换其他公司
金佰利的季度营收约是SHOPIFY INC.的1.1倍（$4.2B vs $3.7B），SHOPIFY INC.净利率更高（20.2% vs 16.2%，领先4.0%），SHOPIFY INC.同比增速更快（30.6% vs 2.7%），过去两年SHOPIFY INC.的营收复合增速更高（40.5% 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。
Shopify是总部位于加拿大安大略省渥太华的跨国电商企业，运营零售POS系统及相关服务平台，全球客户超500万，2024年总交易处理额达2923亿美元，其中57%来自美国市场，服务客户包括特斯拉、路威酩轩、雀巢、百事、百威英博、红牛、凯悦等知名品牌。
KMB vs SHOP — 直观对比
营收规模更大
KMB
是对方的1.1倍
$3.7B
营收增速更快
SHOP
高出27.9%
2.7%
净利率更高
SHOP
高出4.0%
16.2%
两年增速更快
SHOP
近两年复合增速
-9.0%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.2B | $3.7B |
| 净利润 | $675.0M | $743.0M |
| 毛利率 | 36.8% | 46.1% |
| 营业利润率 | 18.1% | 17.2% |
| 净利率 | 16.2% | 20.2% |
| 营收同比 | 2.7% | 30.6% |
| 净利润同比 | 17.8% | -42.5% |
| 每股收益（稀释后） | $2.00 | $0.58 |
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KMBSHOP
| Q1 26 | $4.2B | — | ||
| Q4 25 | $3.3B | $3.7B | ||
| Q3 25 | $4.2B | $2.8B | ||
| Q2 25 | $4.2B | $2.7B | ||
| Q1 25 | $4.8B | $2.4B | ||
| Q4 24 | $4.9B | $2.8B | ||
| Q3 24 | $5.0B | $2.2B | ||
| Q2 24 | $5.0B | $2.0B |
净利润KMBSHOP
| Q1 26 | $675.0M | — | ||
| Q4 25 | $499.0M | $743.0M | ||
| Q3 25 | $446.0M | $264.0M | ||
| Q2 25 | $509.0M | $906.0M | ||
| Q1 25 | $567.0M | $-682.0M | ||
| Q4 24 | $447.0M | $1.3B | ||
| Q3 24 | $907.0M | $828.0M | ||
| Q2 24 | $544.0M | $171.0M |
毛利率KMBSHOP
| Q1 26 | 36.8% | — | ||
| Q4 25 | 37.7% | 46.1% | ||
| Q3 25 | 36.0% | 48.9% | ||
| Q2 25 | 35.0% | 48.6% | ||
| Q1 25 | 35.8% | 49.5% | ||
| Q4 24 | 34.0% | 48.1% | ||
| Q3 24 | 36.0% | 51.7% | ||
| Q2 24 | 36.0% | 51.1% |
营业利润率KMBSHOP
| Q1 26 | 18.1% | — | ||
| Q4 25 | 11.2% | 17.2% | ||
| Q3 25 | 15.0% | 12.1% | ||
| Q2 25 | 14.2% | 10.9% | ||
| Q1 25 | 15.9% | 8.6% | ||
| Q4 24 | 11.1% | 16.5% | ||
| Q3 24 | 23.3% | 13.1% | ||
| Q2 24 | 13.0% | 11.8% |
净利率KMBSHOP
| Q1 26 | 16.2% | — | ||
| Q4 25 | 15.1% | 20.2% | ||
| Q3 25 | 10.7% | 9.3% | ||
| Q2 25 | 12.2% | 33.8% | ||
| Q1 25 | 11.7% | -28.9% | ||
| Q4 24 | 9.1% | 46.0% | ||
| Q3 24 | 18.3% | 38.3% | ||
| Q2 24 | 10.8% | 8.4% |
每股收益（稀释后）KMBSHOP
| Q1 26 | $2.00 | — | ||
| Q4 25 | $1.50 | $0.58 | ||
| Q3 25 | $1.34 | $0.20 | ||
| Q2 25 | $1.53 | $0.69 | ||
| Q1 25 | $1.70 | $-0.53 | ||
| Q4 24 | $1.34 | $0.99 | ||
| Q3 24 | $2.69 | $0.64 | ||
| Q2 24 | $1.61 | $0.13 |
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 | $5.8B |
| 总债务越低越好 | $6.5M | — |
| 股东权益账面价值 | $1.9M | $13.5B |
| 总资产 | $17.2M | $15.2B |
| 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KMBSHOP
| Q1 26 | $542.0K | — | ||
| Q4 25 | $688.0M | $5.8B | ||
| Q3 25 | $617.0M | $6.3B | ||
| Q2 25 | $634.0M | $5.8B | ||
| Q1 25 | $563.0M | $5.5B | ||
| Q4 24 | $1.0B | $5.5B | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $1.2B | — |
总债务KMBSHOP
| Q1 26 | $6.5M | — | ||
| Q4 25 | $6.5B | — | ||
| Q3 25 | $6.5B | — | ||
| Q2 25 | $6.5B | — | ||
| Q1 25 | $6.5B | — | ||
| Q4 24 | $6.9B | — | ||
| Q3 24 | $6.9B | — | ||
| Q2 24 | $7.2B | — |
股东权益KMBSHOP
| Q1 26 | $1.9M | — | ||
| Q4 25 | $1.5B | $13.5B | ||
| Q3 25 | $1.3B | $12.5B | ||
| Q2 25 | $1.3B | $12.1B | ||
| Q1 25 | $1.1B | $11.1B | ||
| Q4 24 | $840.0M | $11.6B | ||
| Q3 24 | $1.3B | $10.1B | ||
| Q2 24 | $1.1B | $9.2B |
总资产KMBSHOP
| Q1 26 | $17.2M | — | ||
| Q4 25 | $17.1B | $15.2B | ||
| Q3 25 | $16.9B | $15.0B | ||
| Q2 25 | $16.8B | $14.6B | ||
| Q1 25 | $16.3B | $13.4B | ||
| Q4 24 | $16.5B | $13.9B | ||
| Q3 24 | $17.2B | — | ||
| Q2 24 | $17.3B | — |
负债/权益比KMBSHOP
| 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 | — | $725.0M |
| 自由现金流经营现金流 - 资本支出 | — | $715.0M |
| 自由现金流率自由现金流/营收 | — | 19.5% |
| 资本支出强度资本支出/营收 | — | 0.3% |
| 现金转化率经营现金流/净利润 | — | 0.98× |
| 过去12个月自由现金流最近4个季度 | — | $2.0B |
8季度趋势，按日历期对齐
经营现金流KMBSHOP
| Q1 26 | — | — | ||
| Q4 25 | $972.0M | $725.0M | ||
| Q3 25 | $708.0M | $513.0M | ||
| Q2 25 | $770.0M | $428.0M | ||
| Q1 25 | $327.0M | $367.0M | ||
| Q4 24 | $817.0M | $615.0M | ||
| Q3 24 | $958.0M | $423.0M | ||
| Q2 24 | $1.0B | $340.0M |
自由现金流KMBSHOP
| Q1 26 | — | — | ||
| Q4 25 | $575.0M | $715.0M | ||
| Q3 25 | $368.0M | $507.0M | ||
| Q2 25 | $573.0M | $422.0M | ||
| Q1 25 | $123.0M | $363.0M | ||
| Q4 24 | $608.0M | $611.0M | ||
| Q3 24 | $798.0M | $421.0M | ||
| Q2 24 | $863.0M | $333.0M |
自由现金流率KMBSHOP
| Q1 26 | — | — | ||
| Q4 25 | 17.5% | 19.5% | ||
| Q3 25 | 8.9% | 17.8% | ||
| Q2 25 | 13.8% | 15.7% | ||
| Q1 25 | 2.5% | 15.4% | ||
| Q4 24 | 12.3% | 21.7% | ||
| Q3 24 | 16.1% | 19.5% | ||
| Q2 24 | 17.2% | 16.3% |
资本支出强度KMBSHOP
| Q1 26 | — | — | ||
| Q4 25 | 12.1% | 0.3% | ||
| Q3 25 | 8.2% | 0.2% | ||
| Q2 25 | 4.7% | 0.2% | ||
| Q1 25 | 4.2% | 0.2% | ||
| Q4 24 | 4.2% | 0.1% | ||
| Q3 24 | 3.2% | 0.1% | ||
| Q2 24 | 3.1% | 0.3% |
现金转化率KMBSHOP
| Q1 26 | — | — | ||
| Q4 25 | 1.95× | 0.98× | ||
| Q3 25 | 1.59× | 1.94× | ||
| Q2 25 | 1.51× | 0.47× | ||
| Q1 25 | 0.58× | — | ||
| Q4 24 | 1.83× | 0.48× | ||
| Q3 24 | 1.06× | 0.51× | ||
| Q2 24 | 1.88× | 1.99× |
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% |
SHOP
| Services | $2.9B | 79% |
| Subscription And Circulation | $777.0M | 21% |
