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赫曼米勒（MLKN）与Sally Beauty Holdings, Inc.（SBH）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Sally Beauty Holdings, Inc.的1.0倍（$955.2M vs $943.2M），Sally Beauty Holdings, Inc.净利率更高（4.8% vs 2.5%，领先2.3%），Sally Beauty Holdings, Inc.同比增速更快（0.6% vs -1.6%），Sally Beauty Holdings, Inc.自由现金流更多（$57.5M 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。
莎莉美容控股是美国的跨国专业美妆用品零售及分销商，主营专业级美容相关产品供应，年营收超39亿美元，业务覆盖全球多个市场，在专业美容供应链领域拥有较高的行业知名度。
MLKN vs SBH — 直观对比
营收规模更大
MLKN
是对方的1.0倍
$943.2M
营收增速更快
SBH
高出2.1%
-1.6%
净利率更高
SBH
高出2.3%
2.5%
自由现金流更多
SBH
多$23.5M
$34.0M
损益表 — Q2 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $955.2M | $943.2M |
| 净利润 | $24.2M | $45.6M |
| 毛利率 | 39.0% | 51.2% |
| 营业利润率 | 5.1% | 8.1% |
| 净利率 | 2.5% | 4.8% |
| 营收同比 | -1.6% | 0.6% |
| 净利润同比 | -29.0% | -25.3% |
| 每股收益（稀释后） | $0.35 | $0.45 |
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MLKNSBH
| Q4 25 | $955.2M | $943.2M | ||
| Q3 25 | $955.7M | $947.1M | ||
| Q2 25 | — | $933.3M | ||
| Q1 25 | — | $883.1M | ||
| Q4 24 | — | $937.9M | ||
| Q3 24 | — | $935.0M | ||
| Q2 24 | — | $942.3M | ||
| Q1 24 | — | $908.4M |
净利润MLKNSBH
| Q4 25 | $24.2M | $45.6M | ||
| Q3 25 | $20.2M | $49.9M | ||
| Q2 25 | — | $45.7M | ||
| Q1 25 | — | $39.2M | ||
| Q4 24 | — | $61.0M | ||
| Q3 24 | — | $48.1M | ||
| Q2 24 | — | $37.7M | ||
| Q1 24 | — | $29.2M |
毛利率MLKNSBH
| Q4 25 | 39.0% | 51.2% | ||
| Q3 25 | 38.5% | 52.2% | ||
| Q2 25 | — | 51.5% | ||
| Q1 25 | — | 52.0% | ||
| Q4 24 | — | 50.8% | ||
| Q3 24 | — | 51.2% | ||
| Q2 24 | — | 51.0% | ||
| Q1 24 | — | 51.0% |
营业利润率MLKNSBH
| Q4 25 | 5.1% | 8.1% | ||
| Q3 25 | 5.6% | 8.4% | ||
| Q2 25 | — | 8.4% | ||
| Q1 25 | — | 7.9% | ||
| Q4 24 | — | 10.7% | ||
| Q3 24 | — | 8.8% | ||
| Q2 24 | — | 7.6% | ||
| Q1 24 | — | 6.6% |
净利率MLKNSBH
| Q4 25 | 2.5% | 4.8% | ||
| Q3 25 | 2.1% | 5.3% | ||
| Q2 25 | — | 4.9% | ||
| Q1 25 | — | 4.4% | ||
| Q4 24 | — | 6.5% | ||
| Q3 24 | — | 5.1% | ||
| Q2 24 | — | 4.0% | ||
| Q1 24 | — | 3.2% |
每股收益（稀释后）MLKNSBH
| Q4 25 | $0.35 | $0.45 | ||
| Q3 25 | $0.29 | $0.49 | ||
| Q2 25 | — | $0.44 | ||
| Q1 25 | — | $0.38 | ||
| Q4 24 | — | $0.58 | ||
| Q3 24 | — | $0.45 | ||
| Q2 24 | — | $0.36 | ||
| Q1 24 | — | $0.27 |
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 | $157.2M |
| 总债务越低越好 | $1.3B | $842.5M |
| 股东权益账面价值 | $1.3B | $823.6M |
| 总资产 | $3.9B | $2.9B |
| 负债/权益比越低杠杆越低 | 1.02× | 1.02× |
8季度趋势，按日历期对齐
现金及短期投资MLKNSBH
| Q4 25 | $180.4M | $157.2M | ||
| Q3 25 | $167.2M | $149.2M | ||
| Q2 25 | — | $112.8M | ||
| Q1 25 | — | $92.2M | ||
| Q4 24 | — | $105.5M | ||
| Q3 24 | — | $108.0M | ||
| Q2 24 | — | $97.4M | ||
| Q1 24 | — | $97.2M |
总债务MLKNSBH
| Q4 25 | $1.3B | $842.5M | ||
| Q3 25 | $1.3B | $862.0M | ||
| Q2 25 | — | $882.4M | ||
| Q1 25 | — | $902.8M | ||
| Q4 24 | — | $938.1M | ||
| Q3 24 | — | $978.3M | ||
| Q2 24 | — | $978.9M | ||
| Q1 24 | — | $978.4M |
股东权益MLKNSBH
| Q4 25 | $1.3B | $823.6M | ||
| Q3 25 | $1.3B | $794.2M | ||
| Q2 25 | — | $762.9M | ||
| Q1 25 | — | $699.8M | ||
| Q4 24 | — | $656.5M | ||
| Q3 24 | — | $628.5M | ||
| Q2 24 | — | $577.7M | ||
| Q1 24 | — | $550.9M |
总资产MLKNSBH
| Q4 25 | $3.9B | $2.9B | ||
| Q3 25 | $3.9B | $2.9B | ||
| Q2 25 | — | $2.7B | ||
| Q1 25 | — | $2.7B | ||
| Q4 24 | — | $2.7B | ||
| Q3 24 | — | $2.8B | ||
| Q2 24 | — | $2.7B | ||
| Q1 24 | — | $2.7B |
负债/权益比MLKNSBH
| Q4 25 | 1.02× | 1.02× | ||
| Q3 25 | 1.02× | 1.09× | ||
| Q2 25 | — | 1.16× | ||
| Q1 25 | — | 1.29× | ||
| Q4 24 | — | 1.43× | ||
| Q3 24 | — | 1.56× | ||
| Q2 24 | — | 1.69× | ||
| Q1 24 | — | 1.78× |
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 | $93.2M |
| 自由现金流经营现金流 - 资本支出 | $34.0M | $57.5M |
| 自由现金流率自由现金流/营收 | 3.6% | 6.1% |
| 资本支出强度资本支出/营收 | 3.2% | 3.8% |
| 现金转化率经营现金流/净利润 | 2.67× | 2.05× |
| 过去12个月自由现金流最近4个季度 | — | $216.8M |
8季度趋势，按日历期对齐
经营现金流MLKNSBH
| Q4 25 | $64.6M | $93.2M | ||
| Q3 25 | $9.4M | $120.9M | ||
| Q2 25 | — | $69.4M | ||
| Q1 25 | — | $51.1M | ||
| Q4 24 | — | $33.5M | ||
| Q3 24 | — | $110.7M | ||
| Q2 24 | — | $47.9M | ||
| Q1 24 | — | $36.9M |
自由现金流MLKNSBH
| Q4 25 | $34.0M | $57.5M | ||
| Q3 25 | $-21.3M | $78.0M | ||
| Q2 25 | — | $49.1M | ||
| Q1 25 | — | $32.2M | ||
| Q4 24 | — | $13.4M | ||
| Q3 24 | — | $73.3M | ||
| Q2 24 | — | $28.7M | ||
| Q1 24 | — | $22.8M |
自由现金流率MLKNSBH
| Q4 25 | 3.6% | 6.1% | ||
| Q3 25 | -2.2% | 8.2% | ||
| Q2 25 | — | 5.3% | ||
| Q1 25 | — | 3.6% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | — | 7.8% | ||
| Q2 24 | — | 3.1% | ||
| Q1 24 | — | 2.5% |
资本支出强度MLKNSBH
| Q4 25 | 3.2% | 3.8% | ||
| Q3 25 | 3.2% | 4.5% | ||
| Q2 25 | — | 2.2% | ||
| Q1 25 | — | 2.1% | ||
| Q4 24 | — | 2.1% | ||
| Q3 24 | — | 4.0% | ||
| Q2 24 | — | 2.0% | ||
| Q1 24 | — | 1.6% |
现金转化率MLKNSBH
| Q4 25 | 2.67× | 2.05× | ||
| Q3 25 | 0.47× | 2.42× | ||
| Q2 25 | — | 1.52× | ||
| Q1 25 | — | 1.30× | ||
| Q4 24 | — | 0.55× | ||
| Q3 24 | — | 2.30× | ||
| Q2 24 | — | 1.27× | ||
| Q1 24 | — | 1.26× |
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% |
SBH
| Sally Beauty Supply | $531.6M | 56% |
| Beauty Systems Group | $411.6M | 44% |
