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雷诺士国际（LII）与RH（RH）财务数据对比。点击上方公司名可切换其他公司
雷诺士国际的季度营收约是RH的1.4倍（$1.2B vs $883.8M），雷诺士国际净利率更高（13.6% vs 4.1%，领先9.5%），RH同比增速更快（8.9% vs -11.2%），雷诺士国际自由现金流更多（$376.7M vs $83.0M），过去两年RH的营收复合增速更高（9.4% vs 6.8%）
雷诺士国际是美国知名的暖通空调（HVAC）及制冷领域气候控制产品供应商，总部位于得克萨斯州理查森。公司在墨西哥萨尔蒂约、美国爱荷华州马歇尔敦、南卡罗来纳州奥兰治堡设有核心生产基地，1904年收购公司的诺里斯家族后裔约翰·W·诺里斯三世持有其9.8%的股份。
RH是美国高端家居品牌，总部位于加利福尼亚州科尔特马德拉。品牌通过线下零售门店、产品目录和线上渠道发售家居商品，截至2018年8月，在美国和加拿大共运营70家展示馆、18家全系列设计展示馆、3家婴童家居展示馆，另有36家奥莱门店。
LII vs RH — 直观对比
营收规模更大
LII
是对方的1.4倍
$883.8M
营收增速更快
RH
高出20.0%
-11.2%
净利率更高
LII
高出9.5%
4.1%
自由现金流更多
LII
多$293.7M
$83.0M
两年增速更快
RH
近两年复合增速
6.8%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $883.8M |
| 净利润 | $162.1M | $36.3M |
| 毛利率 | 34.7% | 44.1% |
| 营业利润率 | 18.6% | 12.0% |
| 净利率 | 13.6% | 4.1% |
| 营收同比 | -11.2% | 8.9% |
| 净利润同比 | -18.0% | 9.3% |
| 每股收益（稀释后） | $4.62 | $1.83 |
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LIIRH
| Q4 25 | $1.2B | $883.8M | ||
| Q3 25 | $1.4B | $899.2M | ||
| Q2 25 | $1.5B | $814.0M | ||
| Q1 25 | $1.1B | $812.4M | ||
| Q4 24 | $1.3B | $811.7M | ||
| Q3 24 | $1.5B | $829.7M | ||
| Q2 24 | $1.5B | $727.0M | ||
| Q1 24 | $1.0B | $738.3M |
净利润LIIRH
| Q4 25 | $162.1M | $36.3M | ||
| Q3 25 | $245.8M | $51.7M | ||
| Q2 25 | $277.6M | $8.0M | ||
| Q1 25 | $120.3M | $13.9M | ||
| Q4 24 | $197.7M | $33.2M | ||
| Q3 24 | $239.0M | $29.0M | ||
| Q2 24 | $245.9M | $-3.6M | ||
| Q1 24 | $124.3M | $11.4M |
毛利率LIIRH
| Q4 25 | 34.7% | 44.1% | ||
| Q3 25 | 32.8% | 45.5% | ||
| Q2 25 | 34.8% | 43.7% | ||
| Q1 25 | 30.6% | 44.7% | ||
| Q4 24 | 33.9% | 44.5% | ||
| Q3 24 | 32.6% | 45.2% | ||
| Q2 24 | 33.6% | 43.5% | ||
| Q1 24 | 32.5% | 43.5% |
营业利润率LIIRH
| Q4 25 | 18.6% | 12.0% | ||
| Q3 25 | 21.7% | 14.3% | ||
| Q2 25 | 23.6% | 6.9% | ||
| Q1 25 | 14.5% | 8.7% | ||
| Q4 24 | 18.2% | 12.5% | ||
| Q3 24 | 20.2% | 11.6% | ||
| Q2 24 | 22.1% | 7.5% | ||
| Q1 24 | 15.9% | 8.7% |
净利率LIIRH
| Q4 25 | 13.6% | 4.1% | ||
| Q3 25 | 17.2% | 5.8% | ||
| Q2 25 | 18.5% | 1.0% | ||
| Q1 25 | 11.2% | 1.7% | ||
| Q4 24 | 14.7% | 4.1% | ||
| Q3 24 | 16.0% | 3.5% | ||
| Q2 24 | 16.9% | -0.5% | ||
| Q1 24 | 11.9% | 1.5% |
每股收益（稀释后）LIIRH
| Q4 25 | $4.62 | $1.83 | ||
| Q3 25 | $6.98 | $2.62 | ||
| Q2 25 | $7.82 | $0.40 | ||
| Q1 25 | $3.37 | $0.71 | ||
| Q4 24 | $5.52 | $1.66 | ||
| Q3 24 | $6.68 | $1.45 | ||
| Q2 24 | $6.87 | $-0.20 | ||
| Q1 24 | $3.47 | $0.91 |
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 | $34.7M | $43.1M |
| 总债务越低越好 | $1.1B | — |
| 股东权益账面价值 | $1.2B | $3.3M |
| 总资产 | $4.1B | $4.8B |
| 负债/权益比越低杠杆越低 | 0.98× | — |
8季度趋势，按日历期对齐
现金及短期投资LIIRH
| Q4 25 | $34.7M | $43.1M | ||
| Q3 25 | $59.2M | $34.6M | ||
| Q2 25 | $55.1M | $46.1M | ||
| Q1 25 | $222.9M | $30.4M | ||
| Q4 24 | $422.3M | $87.0M | ||
| Q3 24 | $255.7M | $78.3M | ||
| Q2 24 | $57.8M | $101.8M | ||
| Q1 24 | $57.6M | $123.7M |
总债务LIIRH
| Q4 25 | $1.1B | — | ||
| Q3 25 | $838.2M | — | ||
| Q2 25 | $835.7M | — | ||
| Q1 25 | $834.2M | — | ||
| Q4 24 | $833.1M | — | ||
| Q3 24 | $827.6M | — | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $1.2B | — |
股东权益LIIRH
| Q4 25 | $1.2B | $3.3M | ||
| Q3 25 | $1.1B | $-40.9M | ||
| Q2 25 | $900.5M | $-110.8M | ||
| Q1 25 | $852.5M | $-163.6M | ||
| Q4 24 | $850.2M | $-183.0M | ||
| Q3 24 | $754.0M | $-234.7M | ||
| Q2 24 | $577.4M | $-289.9M | ||
| Q1 24 | $368.8M | $-297.4M |
总资产LIIRH
| Q4 25 | $4.1B | $4.8B | ||
| Q3 25 | $3.5B | $4.7B | ||
| Q2 25 | $3.7B | $4.7B | ||
| Q1 25 | $3.5B | $4.6B | ||
| Q4 24 | $3.5B | $4.5B | ||
| Q3 24 | $3.3B | $4.4B | ||
| Q2 24 | $3.2B | $4.2B | ||
| Q1 24 | $3.0B | $4.1B |
负债/权益比LIIRH
| Q4 25 | 0.98× | — | ||
| Q3 25 | 0.78× | — | ||
| Q2 25 | 0.93× | — | ||
| Q1 25 | 0.98× | — | ||
| Q4 24 | 0.98× | — | ||
| Q3 24 | 1.10× | — | ||
| Q2 24 | 1.95× | — | ||
| Q1 24 | 3.13× | — |
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 | $405.9M | $131.9M |
| 自由现金流经营现金流 - 资本支出 | $376.7M | $83.0M |
| 自由现金流率自由现金流/营收 | 31.5% | 9.4% |
| 资本支出强度资本支出/营收 | 2.4% | 5.5% |
| 现金转化率经营现金流/净利润 | 2.50× | 3.64× |
| 过去12个月自由现金流最近4个季度 | $638.8M | $128.1M |
8季度趋势，按日历期对齐
经营现金流LIIRH
| Q4 25 | $405.9M | $131.9M | ||
| Q3 25 | $300.7M | $137.7M | ||
| Q2 25 | $86.8M | $86.6M | ||
| Q1 25 | $-35.8M | $-18.8M | ||
| Q4 24 | $332.4M | $-31.4M | ||
| Q3 24 | $452.1M | $11.2M | ||
| Q2 24 | $184.0M | $56.1M | ||
| Q1 24 | $-22.8M | $-114.0M |
自由现金流LIIRH
| Q4 25 | $376.7M | $83.0M | ||
| Q3 25 | $265.1M | $80.7M | ||
| Q2 25 | $58.3M | $34.1M | ||
| Q1 25 | $-61.3M | $-69.7M | ||
| Q4 24 | $272.2M | $-96.0M | ||
| Q3 24 | $410.9M | $-37.9M | ||
| Q2 24 | $151.3M | $-10.1M | ||
| Q1 24 | $-52.3M | $-251.5M |
自由现金流率LIIRH
| Q4 25 | 31.5% | 9.4% | ||
| Q3 25 | 18.6% | 9.0% | ||
| Q2 25 | 3.9% | 4.2% | ||
| Q1 25 | -5.7% | -8.6% | ||
| Q4 24 | 20.2% | -11.8% | ||
| Q3 24 | 27.4% | -4.6% | ||
| Q2 24 | 10.4% | -1.4% | ||
| Q1 24 | -5.0% | -34.1% |
资本支出强度LIIRH
| Q4 25 | 2.4% | 5.5% | ||
| Q3 25 | 2.5% | 6.3% | ||
| Q2 25 | 1.9% | 6.5% | ||
| Q1 25 | 2.4% | 6.3% | ||
| Q4 24 | 4.5% | 8.0% | ||
| Q3 24 | 2.8% | 5.9% | ||
| Q2 24 | 2.3% | 9.1% | ||
| Q1 24 | 2.8% | 18.6% |
现金转化率LIIRH
| Q4 25 | 2.50× | 3.64× | ||
| Q3 25 | 1.22× | 2.66× | ||
| Q2 25 | 0.31× | 10.78× | ||
| Q1 25 | -0.30× | -1.35× | ||
| Q4 24 | 1.68× | -0.95× | ||
| Q3 24 | 1.89× | 0.39× | ||
| Q2 24 | 0.75× | — | ||
| Q1 24 | -0.18× | -10.01× |
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
LII
| Residential Heating And Cooling | $699.8M | 59% |
| Commercial Heating And Cooling | $495.2M | 41% |
RH
| RH Segment | $835.8M | 95% |
| Waterworks Segment | $48.0M | 5% |
| Gift Card And Merchandise Credit | $4.5M | 1% |
