vs
味好美（MKC）与J.M. Smucker Company (The)（SJM）财务数据对比。点击上方公司名可切换其他公司
J.M. Smucker Company (The)的季度营收约是味好美的1.3倍（$2.3B vs $1.9B），味好美净利率更高（12.2% vs 10.4%，领先1.9%），味好美同比增速更快（2.9% vs 2.6%），过去两年味好美的营收复合增速更高（7.5% vs 2.2%）
味好美是美国知名食品企业，专业生产、营销并配送香辛料、复合调味料、调味酱及各类风味产品，客户覆盖零售终端、食品生产商及餐饮服务企业，是全球领先的风味产品供应商。
J.M.斯马克公司是美国食品饮料生产企业，总部位于俄亥俄州奥维尔，1897年成立之初主营苹果酱生产，目前旗下设消费食品、宠物食品、咖啡三大业务板块，核心品牌Smucker's主打果酱、花生酱、糖浆、无皮冷冻三明治、冰淇淋顶料等产品。
MKC vs SJM — 直观对比
营收规模更大
SJM
是对方的1.3倍
$1.9B
营收增速更快
MKC
高出0.3%
2.6%
净利率更高
MKC
高出1.9%
10.4%
两年增速更快
MKC
近两年复合增速
2.2%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $2.3B |
| 净利润 | $226.6M | $241.3M |
| 毛利率 | 38.9% | 37.3% |
| 营业利润率 | 16.8% | 18.0% |
| 净利率 | 12.2% | 10.4% |
| 营收同比 | 2.9% | 2.6% |
| 净利润同比 | 5.3% | 1084.9% |
| 每股收益（稀释后） | $0.84 | $2.26 |
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MKCSJM
| Q4 25 | $1.9B | $2.3B | ||
| Q3 25 | $1.7B | $2.1B | ||
| Q2 25 | $1.7B | $2.1B | ||
| Q1 25 | $1.6B | $2.2B | ||
| Q4 24 | $1.8B | $2.3B | ||
| Q3 24 | $1.7B | $2.1B | ||
| Q2 24 | $1.6B | $2.2B | ||
| Q1 24 | $1.6B | $2.2B |
净利润MKCSJM
| Q4 25 | $226.6M | $241.3M | ||
| Q3 25 | $225.5M | $-43.9M | ||
| Q2 25 | $175.0M | $-729.0M | ||
| Q1 25 | $162.3M | $-662.3M | ||
| Q4 24 | $215.2M | $-24.5M | ||
| Q3 24 | $223.1M | $185.0M | ||
| Q2 24 | $184.2M | $245.1M | ||
| Q1 24 | $166.0M | $120.4M |
毛利率MKCSJM
| Q4 25 | 38.9% | 37.3% | ||
| Q3 25 | 37.4% | 22.5% | ||
| Q2 25 | 37.5% | 38.4% | ||
| Q1 25 | 37.6% | 40.2% | ||
| Q4 24 | 40.2% | 39.0% | ||
| Q3 24 | 38.7% | 37.5% | ||
| Q2 24 | 37.7% | 41.4% | ||
| Q1 24 | 37.4% | 36.9% |
营业利润率MKCSJM
| Q4 25 | 16.8% | 18.0% | ||
| Q3 25 | 16.7% | 2.2% | ||
| Q2 25 | 14.8% | -27.9% | ||
| Q1 25 | 14.0% | -27.2% | ||
| Q4 24 | 17.0% | 7.5% | ||
| Q3 24 | 17.1% | 16.4% | ||
| Q2 24 | 14.2% | 18.4% | ||
| Q1 24 | 14.6% | 13.3% |
净利率MKCSJM
| Q4 25 | 12.2% | 10.4% | ||
| Q3 25 | 13.1% | -2.1% | ||
| Q2 25 | 10.5% | -34.0% | ||
| Q1 25 | 10.1% | -30.3% | ||
| Q4 24 | 12.0% | -1.1% | ||
| Q3 24 | 13.3% | 8.7% | ||
| Q2 24 | 11.2% | 11.1% | ||
| Q1 24 | 10.4% | 5.4% |
每股收益（稀释后）MKCSJM
| Q4 25 | $0.84 | $2.26 | ||
| Q3 25 | $0.84 | $-0.41 | ||
| Q2 25 | $0.65 | $-6.86 | ||
| Q1 25 | $0.60 | $-6.22 | ||
| Q4 24 | $0.79 | $-0.23 | ||
| Q3 24 | $0.83 | $1.74 | ||
| Q2 24 | $0.68 | $2.31 | ||
| Q1 24 | $0.62 | $1.13 |
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 | $95.9M | — |
| 总债务越低越好 | $3.6B | $7.0B |
| 股东权益账面价值 | $5.7B | $6.1B |
| 总资产 | $13.2B | $17.6B |
| 负债/权益比越低杠杆越低 | 0.63× | 1.16× |
8季度趋势，按日历期对齐
现金及短期投资MKCSJM
| Q4 25 | $95.9M | — | ||
| Q3 25 | $94.9M | — | ||
| Q2 25 | $124.1M | — | ||
| Q1 25 | $102.8M | — | ||
| Q4 24 | $186.1M | — | ||
| Q3 24 | $200.8M | — | ||
| Q2 24 | $166.3M | — | ||
| Q1 24 | $178.0M | — |
总债务MKCSJM
| Q4 25 | $3.6B | $7.0B | ||
| Q3 25 | $3.9B | $7.0B | ||
| Q2 25 | $3.9B | $7.0B | ||
| Q1 25 | $3.9B | $7.4B | ||
| Q4 24 | $3.9B | $7.8B | ||
| Q3 24 | $3.4B | $7.8B | ||
| Q2 24 | $4.1B | $7.8B | ||
| Q1 24 | $4.1B | $8.1B |
股东权益MKCSJM
| Q4 25 | $5.7B | $6.1B | ||
| Q3 25 | $5.8B | $5.9B | ||
| Q2 25 | $5.6B | $6.1B | ||
| Q1 25 | $5.4B | $6.9B | ||
| Q4 24 | $5.3B | $7.6B | ||
| Q3 24 | $5.4B | $7.8B | ||
| Q2 24 | $5.3B | $7.7B | ||
| Q1 24 | $5.2B | $7.6B |
总资产MKCSJM
| Q4 25 | $13.2B | $17.6B | ||
| Q3 25 | $13.2B | $17.7B | ||
| Q2 25 | $13.2B | $17.6B | ||
| Q1 25 | $12.9B | $18.4B | ||
| Q4 24 | $13.1B | $20.0B | ||
| Q3 24 | $13.2B | $20.3B | ||
| Q2 24 | $13.0B | $20.3B | ||
| Q1 24 | $12.9B | $20.2B |
负债/权益比MKCSJM
| Q4 25 | 0.63× | 1.16× | ||
| Q3 25 | 0.67× | 1.19× | ||
| Q2 25 | 0.69× | 1.16× | ||
| Q1 25 | 0.71× | 1.07× | ||
| Q4 24 | 0.73× | 1.02× | ||
| Q3 24 | 0.63× | 1.00× | ||
| Q2 24 | 0.77× | 1.01× | ||
| Q1 24 | 0.79× | 1.07× |
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 | $542.0M | $346.5M |
| 自由现金流经营现金流 - 资本支出 | — | $280.2M |
| 自由现金流率自由现金流/营收 | — | 12.0% |
| 资本支出强度资本支出/营收 | — | 2.8% |
| 现金转化率经营现金流/净利润 | 2.39× | 1.44× |
| 过去12个月自由现金流最近4个季度 | — | $635.5M |
8季度趋势，按日历期对齐
经营现金流MKCSJM
| Q4 25 | $542.0M | $346.5M | ||
| Q3 25 | $258.8M | $-10.6M | ||
| Q2 25 | $45.9M | $393.9M | ||
| Q1 25 | $115.5M | $239.4M | ||
| Q4 24 | $458.7M | $404.2M | ||
| Q3 24 | $161.7M | $172.9M | ||
| Q2 24 | $163.1M | $428.1M | ||
| Q1 24 | $138.4M | $406.5M |
自由现金流MKCSJM
| Q4 25 | — | $280.2M | ||
| Q3 25 | $206.1M | $-94.9M | ||
| Q2 25 | $-2.4M | $298.9M | ||
| Q1 25 | $78.4M | $151.3M | ||
| Q4 24 | — | $317.2M | ||
| Q3 24 | $102.7M | $49.2M | ||
| Q2 24 | $94.8M | $297.5M | ||
| Q1 24 | $76.4M | $249.6M |
自由现金流率MKCSJM
| Q4 25 | — | 12.0% | ||
| Q3 25 | 11.9% | -4.5% | ||
| Q2 25 | -0.1% | 13.9% | ||
| Q1 25 | 4.9% | 6.9% | ||
| Q4 24 | — | 14.0% | ||
| Q3 24 | 6.1% | 2.3% | ||
| Q2 24 | 5.8% | 13.5% | ||
| Q1 24 | 4.8% | 11.2% |
资本支出强度MKCSJM
| Q4 25 | — | 2.8% | ||
| Q3 25 | 3.1% | 4.0% | ||
| Q2 25 | 2.9% | 4.4% | ||
| Q1 25 | 2.3% | 4.0% | ||
| Q4 24 | — | 3.8% | ||
| Q3 24 | 3.5% | 5.8% | ||
| Q2 24 | 4.2% | 5.9% | ||
| Q1 24 | 3.9% | 7.0% |
现金转化率MKCSJM
| Q4 25 | 2.39× | 1.44× | ||
| Q3 25 | 1.15× | — | ||
| Q2 25 | 0.26× | — | ||
| Q1 25 | 0.71× | — | ||
| Q4 24 | 2.13× | — | ||
| Q3 24 | 0.72× | 0.93× | ||
| Q2 24 | 0.89× | 1.75× | ||
| Q1 24 | 0.83× | 3.38× |
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
MKC
| Consumer | $1.1B | 61% |
| Flavor Solutions | $723.1M | 39% |
SJM
| U.S.Retail Frozen Handheld And Spreads | $461.1M | 20% |
| U.S.Retail Pet Foods | $413.2M | 18% |
| Handheld Frozen Sandwiches | $262.9M | 11% |
| Sweet Baked Snacks | $256.1M | 11% |
| Pet Snacks | $232.0M | 10% |
| Cat Food | $197.2M | 8% |
| Peanut Butter | $187.1M | 8% |
| CA | $94.5M | 4% |
| Fruit Spreads | $92.2M | 4% |
| Other | $50.5M | 2% |
| Portion Control | $50.1M | 2% |
| All Other International | $33.2M | 1% |
