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金佰利（KMB）与Vistra Corp.（VST）财务数据对比。点击上方公司名可切换其他公司
Vistra Corp.的季度营收约是金佰利的1.2倍（$4.8B vs $4.2B），金佰利净利率更高（16.2% vs 4.8%，领先11.4%），Vistra Corp.同比增速更快（31.2% vs 2.7%），过去两年Vistra Corp.的营收复合增速更高（23.3% 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。
股票代码为VST的Vistra Corp是总部位于美国得克萨斯州的能源企业，主营电力生产、可再生能源开发及能源零售等业务。此外“Vistra”也可指一家总部位于中国香港的企业服务提供商，为全球客户提供公司注册、合规管理等专业服务。
KMB vs VST — 直观对比
营收规模更大
VST
是对方的1.2倍
$4.2B
营收增速更快
VST
高出28.5%
2.7%
净利率更高
KMB
高出11.4%
4.8%
两年增速更快
VST
近两年复合增速
-9.0%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.2B | $4.8B |
| 净利润 | $675.0M | $233.0M |
| 毛利率 | 36.8% | — |
| 营业利润率 | 18.1% | 9.9% |
| 净利率 | 16.2% | 4.8% |
| 营收同比 | 2.7% | 31.2% |
| 净利润同比 | 17.3% | -47.2% |
| 每股收益（稀释后） | $2.00 | $0.55 |
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KMBVST
| Q1 26 | $4.2B | — | ||
| Q4 25 | $3.3B | $4.8B | ||
| Q3 25 | $4.2B | $4.8B | ||
| Q2 25 | $4.2B | $3.8B | ||
| Q1 25 | $4.8B | $4.3B | ||
| Q4 24 | $4.9B | $3.7B | ||
| Q3 24 | $5.0B | $4.3B | ||
| Q2 24 | $5.0B | $3.6B |
净利润KMBVST
| Q1 26 | $675.0M | — | ||
| Q4 25 | $499.0M | $233.0M | ||
| Q3 25 | $446.0M | $652.0M | ||
| Q2 25 | $509.0M | $327.0M | ||
| Q1 25 | $567.0M | $-268.0M | ||
| Q4 24 | $447.0M | $441.0M | ||
| Q3 24 | $907.0M | $1.9B | ||
| Q2 24 | $544.0M | $365.0M |
毛利率KMBVST
| Q1 26 | 36.8% | — | ||
| Q4 25 | 37.7% | — | ||
| Q3 25 | 36.0% | — | ||
| Q2 25 | 35.0% | — | ||
| Q1 25 | 35.8% | — | ||
| Q4 24 | 34.0% | — | ||
| Q3 24 | 36.0% | — | ||
| Q2 24 | 36.0% | — |
营业利润率KMBVST
| Q1 26 | 18.1% | — | ||
| Q4 25 | 11.2% | 9.9% | ||
| Q3 25 | 15.0% | 21.7% | ||
| Q2 25 | 14.2% | 13.7% | ||
| Q1 25 | 15.9% | -2.8% | ||
| Q4 24 | 11.1% | 16.4% | ||
| Q3 24 | 23.3% | 59.6% | ||
| Q2 24 | 13.0% | 22.5% |
净利率KMBVST
| Q1 26 | 16.2% | — | ||
| Q4 25 | 15.1% | 4.8% | ||
| Q3 25 | 10.7% | 13.6% | ||
| Q2 25 | 12.2% | 8.7% | ||
| Q1 25 | 11.7% | -6.3% | ||
| Q4 24 | 9.1% | 12.0% | ||
| Q3 24 | 18.3% | 43.5% | ||
| Q2 24 | 10.8% | 10.1% |
每股收益（稀释后）KMBVST
| Q1 26 | $2.00 | — | ||
| Q4 25 | $1.50 | $0.55 | ||
| Q3 25 | $1.34 | $1.75 | ||
| Q2 25 | $1.53 | $0.81 | ||
| Q1 25 | $1.70 | $-0.93 | ||
| Q4 24 | $1.34 | $1.09 | ||
| Q3 24 | $2.69 | $5.25 | ||
| Q2 24 | $1.61 | $0.90 |
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 | $785.0M |
| 总债务越低越好 | $6.5M | $15.8B |
| 股东权益账面价值 | $1.9M | $5.1B |
| 总资产 | $17.2M | $41.5B |
| 负债/权益比越低杠杆越低 | 3.38× | 3.11× |
8季度趋势，按日历期对齐
现金及短期投资KMBVST
| Q1 26 | $542.0K | — | ||
| Q4 25 | $688.0M | $785.0M | ||
| Q3 25 | $617.0M | $602.0M | ||
| Q2 25 | $634.0M | $458.0M | ||
| Q1 25 | $563.0M | $561.0M | ||
| Q4 24 | $1.0B | $1.2B | ||
| Q3 24 | $1.1B | $905.0M | ||
| Q2 24 | $1.2B | $1.6B |
总债务KMBVST
| Q1 26 | $6.5M | — | ||
| Q4 25 | $6.5B | $15.8B | ||
| Q3 25 | $6.5B | $15.8B | ||
| Q2 25 | $6.5B | $15.5B | ||
| Q1 25 | $6.5B | $15.4B | ||
| Q4 24 | $6.9B | $15.4B | ||
| Q3 24 | $6.9B | $13.9B | ||
| Q2 24 | $7.2B | $13.9B |
股东权益KMBVST
| Q1 26 | $1.9M | — | ||
| Q4 25 | $1.5B | $5.1B | ||
| Q3 25 | $1.3B | $5.2B | ||
| Q2 25 | $1.3B | $4.8B | ||
| Q1 25 | $1.1B | $4.8B | ||
| Q4 24 | $840.0M | $5.6B | ||
| Q3 24 | $1.3B | $5.4B | ||
| Q2 24 | $1.1B | $5.6B |
总资产KMBVST
| Q1 26 | $17.2M | — | ||
| Q4 25 | $17.1B | $41.5B | ||
| Q3 25 | $16.9B | $38.0B | ||
| Q2 25 | $16.8B | $38.1B | ||
| Q1 25 | $16.3B | $38.2B | ||
| Q4 24 | $16.5B | $37.8B | ||
| Q3 24 | $17.2B | $37.9B | ||
| Q2 24 | $17.3B | $39.1B |
负债/权益比KMBVST
| Q1 26 | 3.38× | — | ||
| Q4 25 | 4.31× | 3.11× | ||
| Q3 25 | 4.86× | 3.02× | ||
| Q2 25 | 5.09× | 3.22× | ||
| Q1 25 | 5.89× | 3.20× | ||
| Q4 24 | 8.18× | 2.77× | ||
| Q3 24 | 5.36× | 2.56× | ||
| Q2 24 | 6.30× | 2.49× |
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 |
| 自由现金流经营现金流 - 资本支出 | — | $596.0M |
| 自由现金流率自由现金流/营收 | — | 12.4% |
| 资本支出强度资本支出/营收 | — | 17.4% |
| 现金转化率经营现金流/净利润 | — | 6.15× |
| 过去12个月自由现金流最近4个季度 | — | $1.3B |
8季度趋势，按日历期对齐
经营现金流KMBVST
| Q1 26 | — | — | ||
| Q4 25 | $972.0M | $1.4B | ||
| Q3 25 | $708.0M | $1.5B | ||
| Q2 25 | $770.0M | $572.0M | ||
| Q1 25 | $327.0M | $599.0M | ||
| Q4 24 | $817.0M | $1.4B | ||
| Q3 24 | $958.0M | $1.7B | ||
| Q2 24 | $1.0B | $1.2B |
自由现金流KMBVST
| Q1 26 | — | — | ||
| Q4 25 | $575.0M | $596.0M | ||
| Q3 25 | $368.0M | $1.0B | ||
| Q2 25 | $573.0M | $-118.0M | ||
| Q1 25 | $123.0M | $-169.0M | ||
| Q4 24 | $608.0M | $923.0M | ||
| Q3 24 | $798.0M | $1.0B | ||
| Q2 24 | $863.0M | $698.0M |
自由现金流率KMBVST
| Q1 26 | — | — | ||
| Q4 25 | 17.5% | 12.4% | ||
| Q3 25 | 8.9% | 21.1% | ||
| Q2 25 | 13.8% | -3.1% | ||
| Q1 25 | 2.5% | -4.0% | ||
| Q4 24 | 12.3% | 25.2% | ||
| Q3 24 | 16.1% | 23.4% | ||
| Q2 24 | 17.2% | 19.4% |
资本支出强度KMBVST
| Q1 26 | — | — | ||
| Q4 25 | 12.1% | 17.4% | ||
| Q3 25 | 8.2% | 9.6% | ||
| Q2 25 | 4.7% | 18.4% | ||
| Q1 25 | 4.2% | 18.1% | ||
| Q4 24 | 4.2% | 11.7% | ||
| Q3 24 | 3.2% | 15.8% | ||
| Q2 24 | 3.1% | 13.8% |
现金转化率KMBVST
| Q1 26 | — | — | ||
| Q4 25 | 1.95× | 6.15× | ||
| Q3 25 | 1.59× | 2.25× | ||
| Q2 25 | 1.51× | 1.75× | ||
| Q1 25 | 0.58× | — | ||
| Q4 24 | 1.83× | 3.07× | ||
| Q3 24 | 1.06× | 0.90× | ||
| Q2 24 | 1.88× | 3.28× |
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% |
VST
| Retail Energy Charge In ERCOT | $2.1B | 43% |
| Retail Energy Charge In Northeast Midwest | $1.2B | 24% |
| East Segment | $1.1B | 24% |
| Hedging Revenue Realized | $170.0M | 4% |
| Revenue From Other Wholesale Contracts | $116.0M | 2% |
| Transferable Production Tax Credit Revenues | $78.0M | 2% |
| West Segment | $77.0M | 2% |
| Intersegment Sales | $25.0M | 1% |
