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赫曼米勒（MLKN）与Reddit, Inc.（RDDT）财务数据对比。点击上方公司名可切换其他公司
赫曼米勒的季度营收约是Reddit, Inc.的1.3倍（$955.2M vs $725.6M），Reddit, Inc.净利率更高（34.7% vs 2.5%，领先32.1%），Reddit, Inc.同比增速更快（69.7% vs -1.6%），Reddit, Inc.自由现金流更多（$263.6M vs $34.0M）
米勒诺尔公司以赫曼米勒之名开展业务，是美国知名办公家具、设备及家居产品制造商。其推出的埃隆椅、野口勇茶几、棉花糖沙发、米拉椅、伊姆斯休闲椅等产品享誉全球，此外该公司还在1968年研发出了现代办公隔间。
Reddit是美国知名的社交新闻聚合与论坛类社交媒体平台，注册用户可发布链接、文字帖、图片、视频等各类内容，其他用户可对内容进行点赞或点踩，内容按主题归类到用户创建的子板块中，获赞更高的内容会排在板块前列，热度足够的内容还将展示在全站首页。
MLKN vs RDDT — 直观对比
营收规模更大
MLKN
是对方的1.3倍
$725.6M
营收增速更快
RDDT
高出71.2%
-1.6%
净利率更高
RDDT
高出32.1%
2.5%
自由现金流更多
RDDT
多$229.6M
$34.0M
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $955.2M | $725.6M |
| 净利润 | $24.2M | $251.6M |
| 毛利率 | 39.0% | 91.9% |
| 营业利润率 | 5.1% | 31.9% |
| 净利率 | 2.5% | 34.7% |
| 营收同比 | -1.6% | 69.7% |
| 净利润同比 | -29.0% | 254.2% |
| 每股收益（稀释后） | $0.35 | $1.24 |
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MLKNRDDT
| Q4 25 | $955.2M | $725.6M | ||
| Q3 25 | $955.7M | $584.9M | ||
| Q2 25 | — | $499.6M | ||
| Q1 25 | — | $392.4M | ||
| Q4 24 | — | $427.7M | ||
| Q3 24 | — | $348.4M | ||
| Q2 24 | — | $281.2M | ||
| Q1 24 | — | $243.0M |
净利润MLKNRDDT
| Q4 25 | $24.2M | $251.6M | ||
| Q3 25 | $20.2M | $162.7M | ||
| Q2 25 | — | $89.3M | ||
| Q1 25 | — | $26.2M | ||
| Q4 24 | — | $71.0M | ||
| Q3 24 | — | $29.9M | ||
| Q2 24 | — | $-10.1M | ||
| Q1 24 | — | $-575.1M |
毛利率MLKNRDDT
| Q4 25 | 39.0% | 91.9% | ||
| Q3 25 | 38.5% | 91.0% | ||
| Q2 25 | — | 90.8% | ||
| Q1 25 | — | 90.5% | ||
| Q4 24 | — | 92.6% | ||
| Q3 24 | — | 90.1% | ||
| Q2 24 | — | 89.5% | ||
| Q1 24 | — | 88.6% |
营业利润率MLKNRDDT
| Q4 25 | 5.1% | 31.9% | ||
| Q3 25 | 5.6% | 23.7% | ||
| Q2 25 | — | 13.6% | ||
| Q1 25 | — | 1.0% | ||
| Q4 24 | — | 12.4% | ||
| Q3 24 | — | 2.0% | ||
| Q2 24 | — | -11.0% | ||
| Q1 24 | — | -242.5% |
净利率MLKNRDDT
| Q4 25 | 2.5% | 34.7% | ||
| Q3 25 | 2.1% | 27.8% | ||
| Q2 25 | — | 17.9% | ||
| Q1 25 | — | 6.7% | ||
| Q4 24 | — | 16.6% | ||
| Q3 24 | — | 8.6% | ||
| Q2 24 | — | -3.6% | ||
| Q1 24 | — | -236.7% |
每股收益（稀释后）MLKNRDDT
| Q4 25 | $0.35 | $1.24 | ||
| Q3 25 | $0.29 | $0.80 | ||
| Q2 25 | — | $0.45 | ||
| Q1 25 | — | $0.13 | ||
| Q4 24 | — | $4.76 | ||
| Q3 24 | — | $0.16 | ||
| Q2 24 | — | $-0.06 | ||
| Q1 24 | — | $-8.19 |
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 | $180.4M | $953.6M |
| 总债务越低越好 | $1.3B | — |
| 股东权益账面价值 | $1.3B | $2.9B |
| 总资产 | $3.9B | $3.2B |
| 负债/权益比越低杠杆越低 | 1.02× | — |
8季度趋势，按日历期对齐
现金及短期投资MLKNRDDT
| Q4 25 | $180.4M | $953.6M | ||
| Q3 25 | $167.2M | $911.7M | ||
| Q2 25 | — | $734.1M | ||
| Q1 25 | — | $635.7M | ||
| Q4 24 | — | $562.1M | ||
| Q3 24 | — | $515.9M | ||
| Q2 24 | — | $468.0M | ||
| Q1 24 | — | $968.5M |
总债务MLKNRDDT
| Q4 25 | $1.3B | — | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益MLKNRDDT
| Q4 25 | $1.3B | $2.9B | ||
| Q3 25 | $1.3B | $2.6B | ||
| Q2 25 | — | $2.4B | ||
| Q1 25 | — | $2.2B | ||
| Q4 24 | — | $2.1B | ||
| Q3 24 | — | $2.0B | ||
| Q2 24 | — | $1.9B | ||
| Q1 24 | — | $1.8B |
总资产MLKNRDDT
| Q4 25 | $3.9B | $3.2B | ||
| Q3 25 | $3.9B | $2.9B | ||
| Q2 25 | — | $2.6B | ||
| Q1 25 | — | $2.4B | ||
| Q4 24 | — | $2.3B | ||
| Q3 24 | — | $2.2B | ||
| Q2 24 | — | $2.1B | ||
| Q1 24 | — | $2.0B |
负债/权益比MLKNRDDT
| Q4 25 | 1.02× | — | ||
| Q3 25 | 1.02× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $64.6M | $266.8M |
| 自由现金流经营现金流 - 资本支出 | $34.0M | $263.6M |
| 自由现金流率自由现金流/营收 | 3.6% | 36.3% |
| 资本支出强度资本支出/营收 | 3.2% | 0.4% |
| 现金转化率经营现金流/净利润 | 2.67× | 1.06× |
| 过去12个月自由现金流最近4个季度 | — | $684.2M |
8季度趋势，按日历期对齐
经营现金流MLKNRDDT
| Q4 25 | $64.6M | $266.8M | ||
| Q3 25 | $9.4M | $185.2M | ||
| Q2 25 | — | $111.3M | ||
| Q1 25 | — | $127.6M | ||
| Q4 24 | — | $90.0M | ||
| Q3 24 | — | $71.6M | ||
| Q2 24 | — | $28.4M | ||
| Q1 24 | — | $32.1M |
自由现金流MLKNRDDT
| Q4 25 | $34.0M | $263.6M | ||
| Q3 25 | $-21.3M | $183.1M | ||
| Q2 25 | — | $110.8M | ||
| Q1 25 | — | $126.6M | ||
| Q4 24 | — | $89.2M | ||
| Q3 24 | — | $70.3M | ||
| Q2 24 | — | $27.2M | ||
| Q1 24 | — | $29.2M |
自由现金流率MLKNRDDT
| Q4 25 | 3.6% | 36.3% | ||
| Q3 25 | -2.2% | 31.3% | ||
| Q2 25 | — | 22.2% | ||
| Q1 25 | — | 32.3% | ||
| Q4 24 | — | 20.8% | ||
| Q3 24 | — | 20.2% | ||
| Q2 24 | — | 9.7% | ||
| Q1 24 | — | 12.0% |
资本支出强度MLKNRDDT
| Q4 25 | 3.2% | 0.4% | ||
| Q3 25 | 3.2% | 0.4% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | — | 0.4% | ||
| Q2 24 | — | 0.4% | ||
| Q1 24 | — | 1.2% |
现金转化率MLKNRDDT
| Q4 25 | 2.67× | 1.06× | ||
| Q3 25 | 0.47× | 1.14× | ||
| Q2 25 | — | 1.25× | ||
| Q1 25 | — | 4.88× | ||
| Q4 24 | — | 1.27× | ||
| Q3 24 | — | 2.40× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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
MLKN
| Workplace | $309.9M | 32% |
| Global Retail Segment | $275.8M | 29% |
| International Contract Segment | $170.9M | 18% |
| Performance Seating | $101.1M | 11% |
| Lifestyle | $52.9M | 6% |
| Other Products | $44.6M | 5% |
RDDT
| Advertising | $689.7M | 95% |
| Other Revenue | $35.9M | 5% |
