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金佰利（KMB）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的季度营收约是金佰利的1.8倍（$7.6B vs $4.2B），金佰利净利率更高（16.2% vs 1.3%，领先14.9%），金佰利同比增速更快（2.7% vs 0.5%），过去两年Smurfit Westrock的营收复合增速更高（60.8% 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。
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。
KMB vs SW — 直观对比
营收规模更大
SW
是对方的1.8倍
$4.2B
营收增速更快
KMB
高出2.1%
0.5%
净利率更高
KMB
高出14.9%
1.3%
两年增速更快
SW
近两年复合增速
-9.0%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.2B | $7.6B |
| 净利润 | $675.0M | $97.0M |
| 毛利率 | 36.8% | 18.2% |
| 营业利润率 | 18.1% | 5.1% |
| 净利率 | 16.2% | 1.3% |
| 营收同比 | 2.7% | 0.5% |
| 净利润同比 | 17.3% | -33.6% |
| 每股收益（稀释后） | $2.00 | $0.18 |
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KMBSW
| Q1 26 | $4.2B | — | ||
| Q4 25 | $3.3B | $7.6B | ||
| Q3 25 | $4.2B | $8.0B | ||
| Q2 25 | $4.2B | $7.9B | ||
| Q1 25 | $4.8B | $7.7B | ||
| Q4 24 | $4.9B | $7.5B | ||
| Q3 24 | $5.0B | $7.7B | ||
| Q2 24 | $5.0B | $3.0B |
净利润KMBSW
| Q1 26 | $675.0M | — | ||
| Q4 25 | $499.0M | $97.0M | ||
| Q3 25 | $446.0M | $246.0M | ||
| Q2 25 | $509.0M | $-28.0M | ||
| Q1 25 | $567.0M | $384.0M | ||
| Q4 24 | $447.0M | $146.0M | ||
| Q3 24 | $907.0M | $-150.0M | ||
| Q2 24 | $544.0M | $132.0M |
毛利率KMBSW
| Q1 26 | 36.8% | — | ||
| Q4 25 | 37.7% | 18.2% | ||
| Q3 25 | 36.0% | 19.6% | ||
| Q2 25 | 35.0% | 19.1% | ||
| Q1 25 | 35.8% | 20.6% | ||
| Q4 24 | 34.0% | 19.1% | ||
| Q3 24 | 36.0% | 17.6% | ||
| Q2 24 | 36.0% | 23.3% |
营业利润率KMBSW
| Q1 26 | 18.1% | — | ||
| Q4 25 | 11.2% | 5.1% | ||
| Q3 25 | 15.0% | 6.6% | ||
| Q2 25 | 14.2% | 3.2% | ||
| Q1 25 | 15.9% | 7.2% | ||
| Q4 24 | 11.1% | 5.3% | ||
| Q3 24 | 23.3% | 0.7% | ||
| Q2 24 | 13.0% | 8.2% |
净利率KMBSW
| Q1 26 | 16.2% | — | ||
| Q4 25 | 15.1% | 1.3% | ||
| Q3 25 | 10.7% | 3.1% | ||
| Q2 25 | 12.2% | -0.4% | ||
| Q1 25 | 11.7% | 5.0% | ||
| Q4 24 | 9.1% | 1.9% | ||
| Q3 24 | 18.3% | -2.0% | ||
| Q2 24 | 10.8% | 4.4% |
每股收益（稀释后）KMBSW
| Q1 26 | $2.00 | — | ||
| Q4 25 | $1.50 | $0.18 | ||
| Q3 25 | $1.34 | $0.47 | ||
| Q2 25 | $1.53 | $-0.05 | ||
| Q1 25 | $1.70 | $0.73 | ||
| Q4 24 | $1.34 | $-0.12 | ||
| Q3 24 | $2.69 | $-0.30 | ||
| Q2 24 | $1.61 | $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 | $542.0K | $892.0M |
| 总债务越低越好 | $6.5M | $13.4B |
| 股东权益账面价值 | $1.9M | $18.3B |
| 总资产 | $17.2M | $45.2B |
| 负债/权益比越低杠杆越低 | 3.38× | 0.73× |
8季度趋势，按日历期对齐
现金及短期投资KMBSW
| Q1 26 | $542.0K | — | ||
| Q4 25 | $688.0M | $892.0M | ||
| Q3 25 | $617.0M | $851.0M | ||
| Q2 25 | $634.0M | $778.0M | ||
| Q1 25 | $563.0M | $797.0M | ||
| Q4 24 | $1.0B | $855.0M | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $1.2B | $26.8K |
总债务KMBSW
| Q1 26 | $6.5M | — | ||
| Q4 25 | $6.5B | $13.4B | ||
| Q3 25 | $6.5B | $13.3B | ||
| Q2 25 | $6.5B | $13.3B | ||
| Q1 25 | $6.5B | $12.9B | ||
| Q4 24 | $6.9B | $12.5B | ||
| Q3 24 | $6.9B | $13.2B | ||
| Q2 24 | $7.2B | — |
股东权益KMBSW
| Q1 26 | $1.9M | — | ||
| Q4 25 | $1.5B | $18.3B | ||
| Q3 25 | $1.3B | $18.4B | ||
| Q2 25 | $1.3B | $18.3B | ||
| Q1 25 | $1.1B | $17.9B | ||
| Q4 24 | $840.0M | $17.4B | ||
| Q3 24 | $1.3B | $18.0B | ||
| Q2 24 | $1.1B | $14.5K |
总资产KMBSW
| Q1 26 | $17.2M | — | ||
| Q4 25 | $17.1B | $45.2B | ||
| Q3 25 | $16.9B | $45.6B | ||
| Q2 25 | $16.8B | $45.7B | ||
| Q1 25 | $16.3B | $44.6B | ||
| Q4 24 | $16.5B | $43.8B | ||
| Q3 24 | $17.2B | $45.0B | ||
| Q2 24 | $17.3B | $26.8K |
负债/权益比KMBSW
| Q1 26 | 3.38× | — | ||
| Q4 25 | 4.31× | 0.73× | ||
| Q3 25 | 4.86× | 0.72× | ||
| Q2 25 | 5.09× | 0.73× | ||
| Q1 25 | 5.89× | 0.72× | ||
| Q4 24 | 8.18× | 0.72× | ||
| Q3 24 | 5.36× | 0.73× | ||
| 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 | — | $1.2B |
| 自由现金流经营现金流 - 资本支出 | — | $612.0M |
| 自由现金流率自由现金流/营收 | — | 8.1% |
| 资本支出强度资本支出/营收 | — | 7.7% |
| 现金转化率经营现金流/净利润 | — | 12.32× |
| 过去12个月自由现金流最近4个季度 | — | $1.2B |
8季度趋势，按日历期对齐
经营现金流KMBSW
| Q1 26 | — | — | ||
| Q4 25 | $972.0M | $1.2B | ||
| Q3 25 | $708.0M | $1.1B | ||
| Q2 25 | $770.0M | $829.0M | ||
| Q1 25 | $327.0M | $235.0M | ||
| Q4 24 | $817.0M | $781.0M | ||
| Q3 24 | $958.0M | $320.0M | ||
| Q2 24 | $1.0B | $340.0M |
自由现金流KMBSW
| Q1 26 | — | — | ||
| Q4 25 | $575.0M | $612.0M | ||
| Q3 25 | $368.0M | $523.0M | ||
| Q2 25 | $573.0M | $307.0M | ||
| Q1 25 | $123.0M | $-242.0M | ||
| Q4 24 | $608.0M | $212.0M | ||
| Q3 24 | $798.0M | $-192.0M | ||
| Q2 24 | $863.0M | $163.0M |
自由现金流率KMBSW
| Q1 26 | — | — | ||
| Q4 25 | 17.5% | 8.1% | ||
| Q3 25 | 8.9% | 6.5% | ||
| Q2 25 | 13.8% | 3.9% | ||
| Q1 25 | 2.5% | -3.2% | ||
| Q4 24 | 12.3% | 2.8% | ||
| Q3 24 | 16.1% | -2.5% | ||
| Q2 24 | 17.2% | 5.5% |
资本支出强度KMBSW
| Q1 26 | — | — | ||
| Q4 25 | 12.1% | 7.7% | ||
| Q3 25 | 8.2% | 7.6% | ||
| Q2 25 | 4.7% | 6.6% | ||
| Q1 25 | 4.2% | 6.2% | ||
| Q4 24 | 4.2% | 7.5% | ||
| Q3 24 | 3.2% | 6.7% | ||
| Q2 24 | 3.1% | 6.0% |
现金转化率KMBSW
| Q1 26 | — | — | ||
| Q4 25 | 1.95× | 12.32× | ||
| Q3 25 | 1.59× | 4.61× | ||
| Q2 25 | 1.51× | — | ||
| Q1 25 | 0.58× | 0.61× | ||
| Q4 24 | 1.83× | 5.35× | ||
| Q3 24 | 1.06× | — | ||
| Q2 24 | 1.88× | 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
KMB
| NA | $2.7B | 64% |
| IPC | $1.5B | 36% |
SW
| Packaging | $3.3B | 43% |
| Other | $3.2B | 43% |
| Paper | $1.1B | 14% |
