vs
赫曼米勒（MLKN）与Travel & Leisure Co.（TNL）财务数据对比。点击上方公司名可切换其他公司
Travel & Leisure Co.的季度营收约是赫曼米勒的1.0倍（$961.0M vs $955.2M），Travel & Leisure Co.净利率更高（8.2% vs 2.5%，领先5.7%），Travel & Leisure Co.同比增速更快（2.9% vs -1.6%），赫曼米勒自由现金流更多（$34.0M vs $0）
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。
Travel + Leisure Co.是一家总部位于美国佛罗里达州奥兰多的分时度假企业，旗下运营温德姆俱乐部、温德姆WorldMark、玛格丽塔维尔度假俱乐部、雅高度假俱乐部等多个度假所有权品牌，开发、销售并管理分时度假物业，同时主要通过RCI提供分时度假交换服务，还运营Travel + Leisure GO等旅行俱乐部。
MLKN vs TNL — 直观对比
营收规模更大
TNL
是对方的1.0倍
$955.2M
营收增速更快
TNL
高出4.5%
-1.6%
净利率更高
TNL
高出5.7%
2.5%
自由现金流更多
MLKN
多$34.0M
$0
损益表 — Q2 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $955.2M | $961.0M |
| 净利润 | $24.2M | $79.0M |
| 毛利率 | 39.0% | — |
| 营业利润率 | 5.1% | 16.5% |
| 净利率 | 2.5% | 8.2% |
| 营收同比 | -1.6% | 2.9% |
| 净利润同比 | -29.0% | 8.2% |
| 每股收益（稀释后） | $0.35 | $1.22 |
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MLKNTNL
| Q1 26 | — | $961.0M | ||
| Q4 25 | $955.2M | $1.0B | ||
| Q3 25 | $955.7M | $1.0B | ||
| Q2 25 | — | $1.0B | ||
| Q1 25 | — | $934.0M | ||
| Q4 24 | — | $970.0M | ||
| Q3 24 | — | $993.0M | ||
| Q2 24 | — | $985.0M |
净利润MLKNTNL
| Q1 26 | — | $79.0M | ||
| Q4 25 | $24.2M | $-62.0M | ||
| Q3 25 | $20.2M | $111.0M | ||
| Q2 25 | — | $108.0M | ||
| Q1 25 | — | $73.0M | ||
| Q4 24 | — | $119.0M | ||
| Q3 24 | — | $97.0M | ||
| Q2 24 | — | $129.0M |
毛利率MLKNTNL
| Q1 26 | — | — | ||
| Q4 25 | 39.0% | 78.9% | ||
| Q3 25 | 38.5% | 98.8% | ||
| Q2 25 | — | 97.9% | ||
| Q1 25 | — | 97.5% | ||
| Q4 24 | — | 99.0% | ||
| Q3 24 | — | 97.3% | ||
| Q2 24 | — | 97.9% |
营业利润率MLKNTNL
| Q1 26 | — | 16.5% | ||
| Q4 25 | 5.1% | -2.2% | ||
| Q3 25 | 5.6% | 20.5% | ||
| Q2 25 | — | 20.2% | ||
| Q1 25 | — | 16.7% | ||
| Q4 24 | — | 21.1% | ||
| Q3 24 | — | 19.0% | ||
| Q2 24 | — | 19.2% |
净利率MLKNTNL
| Q1 26 | — | 8.2% | ||
| Q4 25 | 2.5% | -6.0% | ||
| Q3 25 | 2.1% | 10.6% | ||
| Q2 25 | — | 10.6% | ||
| Q1 25 | — | 7.8% | ||
| Q4 24 | — | 12.3% | ||
| Q3 24 | — | 9.8% | ||
| Q2 24 | — | 13.1% |
每股收益（稀释后）MLKNTNL
| Q1 26 | — | $1.22 | ||
| Q4 25 | $0.35 | $-0.92 | ||
| Q3 25 | $0.29 | $1.67 | ||
| Q2 25 | — | $1.62 | ||
| Q1 25 | — | $1.07 | ||
| Q4 24 | — | $1.70 | ||
| Q3 24 | — | $1.39 | ||
| Q2 24 | — | $1.81 |
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 | $254.0M |
| 总债务越低越好 | $1.3B | — |
| 股东权益账面价值 | $1.3B | — |
| 总资产 | $3.9B | $6.8B |
| 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MLKNTNL
| Q1 26 | — | $254.0M | ||
| Q4 25 | $180.4M | $271.0M | ||
| Q3 25 | $167.2M | $240.0M | ||
| Q2 25 | — | $212.0M | ||
| Q1 25 | — | $188.0M | ||
| Q4 24 | — | $185.0M | ||
| Q3 24 | — | $194.0M | ||
| Q2 24 | — | $166.0M |
总债务MLKNTNL
| Q1 26 | — | — | ||
| Q4 25 | $1.3B | $5.6B | ||
| Q3 25 | $1.3B | $5.6B | ||
| Q2 25 | — | $5.6B | ||
| Q1 25 | — | $5.7B | ||
| Q4 24 | — | $5.6B | ||
| Q3 24 | — | $5.6B | ||
| Q2 24 | — | $5.6B |
股东权益MLKNTNL
| Q1 26 | — | — | ||
| Q4 25 | $1.3B | $-981.0M | ||
| Q3 25 | $1.3B | $-821.0M | ||
| Q2 25 | — | $-852.0M | ||
| Q1 25 | — | $-903.0M | ||
| Q4 24 | — | $-881.0M | ||
| Q3 24 | — | $-862.0M | ||
| Q2 24 | — | $-885.0M |
总资产MLKNTNL
| Q1 26 | — | $6.8B | ||
| Q4 25 | $3.9B | $6.8B | ||
| Q3 25 | $3.9B | $6.9B | ||
| Q2 25 | — | $6.8B | ||
| Q1 25 | — | $6.8B | ||
| Q4 24 | — | $6.7B | ||
| Q3 24 | — | $6.7B | ||
| Q2 24 | — | $6.7B |
负债/权益比MLKNTNL
| Q1 26 | — | — | ||
| Q4 25 | 1.02× | — | ||
| Q3 25 | 1.02× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 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 | $38.0M |
| 自由现金流经营现金流 - 资本支出 | $34.0M | $0 |
| 自由现金流率自由现金流/营收 | 3.6% | 0.0% |
| 资本支出强度资本支出/营收 | 3.2% | — |
| 现金转化率经营现金流/净利润 | 2.67× | 0.48× |
| 过去12个月自由现金流最近4个季度 | — | $423.0M |
8季度趋势，按日历期对齐
经营现金流MLKNTNL
| Q1 26 | — | $38.0M | ||
| Q4 25 | $64.6M | $124.0M | ||
| Q3 25 | $9.4M | $163.0M | ||
| Q2 25 | — | $232.0M | ||
| Q1 25 | — | $121.0M | ||
| Q4 24 | — | $98.0M | ||
| Q3 24 | — | $145.0M | ||
| Q2 24 | — | $174.0M |
自由现金流MLKNTNL
| Q1 26 | — | $0 | ||
| Q4 25 | $34.0M | $92.0M | ||
| Q3 25 | $-21.3M | $136.0M | ||
| Q2 25 | — | $195.0M | ||
| Q1 25 | — | $100.0M | ||
| Q4 24 | — | $75.0M | ||
| Q3 24 | — | $125.0M | ||
| Q2 24 | — | $153.0M |
自由现金流率MLKNTNL
| Q1 26 | — | 0.0% | ||
| Q4 25 | 3.6% | 9.0% | ||
| Q3 25 | -2.2% | 13.0% | ||
| Q2 25 | — | 19.2% | ||
| Q1 25 | — | 10.7% | ||
| Q4 24 | — | 7.7% | ||
| Q3 24 | — | 12.6% | ||
| Q2 24 | — | 15.5% |
资本支出强度MLKNTNL
| Q1 26 | — | — | ||
| Q4 25 | 3.2% | 3.1% | ||
| Q3 25 | 3.2% | 2.6% | ||
| Q2 25 | — | 3.6% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | — | 2.4% | ||
| Q3 24 | — | 2.0% | ||
| Q2 24 | — | 2.1% |
现金转化率MLKNTNL
| Q1 26 | — | 0.48× | ||
| Q4 25 | 2.67× | — | ||
| Q3 25 | 0.47× | 1.47× | ||
| Q2 25 | — | 2.15× | ||
| Q1 25 | — | 1.66× | ||
| Q4 24 | — | 0.82× | ||
| Q3 24 | — | 1.49× | ||
| Q2 24 | — | 1.35× |
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% |
TNL
| Other | $452.0M | 47% |
| Service and membership fees | $396.0M | 41% |
| Consumer financing | $113.0M | 12% |
