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奥驰亚（MO）与TreeHouse Foods, Inc.（THS）财务数据对比。点击上方公司名可切换其他公司
奥驰亚的季度营收约是TreeHouse Foods, Inc.的7.0倍（$5.8B vs $840.3M）。奥驰亚净利率更高（19.1% vs -31.6%，领先50.7%）。TreeHouse Foods, Inc.同比增速更快（0.1% vs -2.1%）。过去两年奥驰亚的营收复合增速更高（2.4% vs -3.9%）
奥驰亚集团是美国头部烟草企业，通过旗下子公司生产销售可燃烟草与口服类烟草相关产品，核心品牌包括万宝路香烟、Black & Mild雪茄及烟斗烟、哥本哈根、斯库尔等湿无烟烟草，以及on!口服尼古丁袋，产品主要供应批发商、分销商及大型零售客户。
树屋食品公司是一家跨国食品加工企业，主打贴牌包装食品生产，总部位于美国伊利诺伊州奥克布鲁克，2005年成立后完全通过收购拓展业务。2010年该公司销售额达20亿美元，在20座工厂拥有超4000名员工，曾获评《食品加工》杂志2010年度加工企业，被称为“你没听过的大型企业”。
MO vs THS — 直观对比
营收规模更大
MO
是对方的7.0倍
$840.3M
营收增速更快
THS
高出2.3%
-2.1%
净利率更高
MO
高出50.7%
-31.6%
两年增速更快
MO
近两年复合增速
-3.9%
损益表 — Q4 2025 vs Q3 2025
| 指标 | | |
|---|---|---|
| 营收 | $5.8B | $840.3M |
| 净利润 | $1.1B | $-265.8M |
| 毛利率 | 62.1% | 18.8% |
| 营业利润率 | 28.2% | -30.2% |
| 净利率 | 19.1% | -31.6% |
| 营收同比 | -2.1% | 0.1% |
| 净利润同比 | -63.2% | -7717.6% |
| 每股收益（稀释后） | $0.67 | $-5.26 |
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MOTHS
| Q4 25 | $5.8B | — | ||
| Q3 25 | $6.1B | $840.3M | ||
| Q2 25 | $6.1B | $798.0M | ||
| Q1 25 | $5.3B | $792.0M | ||
| Q4 24 | $6.0B | $905.7M | ||
| Q3 24 | $6.3B | $839.1M | ||
| Q2 24 | $6.2B | $788.5M | ||
| Q1 24 | $5.6B | $820.7M |
净利润MOTHS
| Q4 25 | $1.1B | — | ||
| Q3 25 | $2.4B | $-265.8M | ||
| Q2 25 | $2.4B | $-2.9M | ||
| Q1 25 | $1.1B | $-31.8M | ||
| Q4 24 | $3.0B | $58.7M | ||
| Q3 24 | $2.3B | $-3.4M | ||
| Q2 24 | $3.8B | $-16.7M | ||
| Q1 24 | $2.1B | $-11.7M |
毛利率MOTHS
| Q4 25 | 62.1% | — | ||
| Q3 25 | 62.8% | 18.8% | ||
| Q2 25 | 63.1% | 17.4% | ||
| Q1 25 | 61.8% | 14.5% | ||
| Q4 24 | 60.3% | 19.5% | ||
| Q3 24 | 60.8% | 15.6% | ||
| Q2 24 | 59.2% | 16.3% | ||
| Q1 24 | 58.8% | 13.6% |
营业利润率MOTHS
| Q4 25 | 28.2% | — | ||
| Q3 25 | 53.2% | -30.2% | ||
| Q2 25 | 52.9% | 3.4% | ||
| Q1 25 | 34.0% | -0.7% | ||
| Q4 24 | 48.2% | 8.9% | ||
| Q3 24 | 50.4% | 3.8% | ||
| Q2 24 | 40.8% | -0.5% | ||
| Q1 24 | 48.0% | -0.6% |
净利率MOTHS
| Q4 25 | 19.1% | — | ||
| Q3 25 | 39.1% | -31.6% | ||
| Q2 25 | 39.0% | -0.4% | ||
| Q1 25 | 20.5% | -4.0% | ||
| Q4 24 | 50.9% | 6.5% | ||
| Q3 24 | 36.6% | -0.4% | ||
| Q2 24 | 61.2% | -2.1% | ||
| Q1 24 | 38.2% | -1.4% |
每股收益（稀释后）MOTHS
| Q4 25 | $0.67 | — | ||
| Q3 25 | $1.41 | $-5.26 | ||
| Q2 25 | $1.41 | $-0.06 | ||
| Q1 25 | $0.63 | $-0.63 | ||
| Q4 24 | $1.78 | $1.12 | ||
| Q3 24 | $1.34 | $-0.07 | ||
| Q2 24 | $2.21 | $-0.32 | ||
| Q1 24 | $1.21 | $-0.22 |
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 | $4.5B | $21.0M |
| 总债务越低越好 | $25.7B | $1.5B |
| 股东权益账面价值 | $-3.5B | $1.3B |
| 总资产 | $35.0B | $3.8B |
| 负债/权益比越低杠杆越低 | — | 1.18× |
8季度趋势，按日历期对齐
现金及短期投资MOTHS
| Q4 25 | $4.5B | — | ||
| Q3 25 | $3.5B | $21.0M | ||
| Q2 25 | $1.3B | $17.1M | ||
| Q1 25 | $4.7B | $16.4M | ||
| Q4 24 | $3.1B | $289.6M | ||
| Q3 24 | $1.9B | $102.0M | ||
| Q2 24 | $1.8B | $105.8M | ||
| Q1 24 | $3.6B | $191.8M |
总债务MOTHS
| Q4 25 | $25.7B | — | ||
| Q3 25 | $25.7B | $1.5B | ||
| Q2 25 | $24.7B | $1.5B | ||
| Q1 25 | $26.1B | $1.4B | ||
| Q4 24 | $24.9B | $1.4B | ||
| Q3 24 | $25.2B | $1.4B | ||
| Q2 24 | $25.0B | $1.4B | ||
| Q1 24 | $25.0B | $1.4B |
股东权益MOTHS
| Q4 25 | $-3.5B | — | ||
| Q3 25 | $-2.6B | $1.3B | ||
| Q2 25 | $-3.3B | $1.5B | ||
| Q1 25 | $-3.5B | $1.5B | ||
| Q4 24 | $-2.2B | $1.5B | ||
| Q3 24 | $-3.5B | $1.6B | ||
| Q2 24 | $-3.0B | $1.6B | ||
| Q1 24 | $-5.1B | $1.6B |
总资产MOTHS
| Q4 25 | $35.0B | — | ||
| Q3 25 | $35.0B | $3.8B | ||
| Q2 25 | $32.3B | $4.0B | ||
| Q1 25 | $35.8B | $3.9B | ||
| Q4 24 | $35.2B | $4.0B | ||
| Q3 24 | $34.2B | $4.0B | ||
| Q2 24 | $34.4B | $3.9B | ||
| Q1 24 | $36.5B | $4.0B |
负债/权益比MOTHS
| Q4 25 | — | — | ||
| Q3 25 | — | 1.18× | ||
| Q2 25 | — | 0.98× | ||
| Q1 25 | — | 0.93× | ||
| Q4 24 | — | 0.90× | ||
| Q3 24 | — | 0.90× | ||
| Q2 24 | — | 0.90× | ||
| Q1 24 | — | 0.87× |
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 | $3.3B | $38.2M |
| 自由现金流经营现金流 - 资本支出 | $3.2B | — |
| 自由现金流率自由现金流/营收 | 54.4% | — |
| 资本支出强度资本支出/营收 | 1.6% | — |
| 现金转化率经营现金流/净利润 | 2.93× | — |
| 过去12个月自由现金流最近4个季度 | $9.1B | — |
8季度趋势，按日历期对齐
经营现金流MOTHS
| Q4 25 | $3.3B | — | ||
| Q3 25 | $3.1B | $38.2M | ||
| Q2 25 | $205.0M | $-47.2M | ||
| Q1 25 | $2.7B | $-53.5M | ||
| Q4 24 | $3.3B | $296.2M | ||
| Q3 24 | $2.6B | $41.4M | ||
| Q2 24 | $-75.0M | $-19.4M | ||
| Q1 24 | $2.9B | $-52.4M |
自由现金流MOTHS
| Q4 25 | $3.2B | — | ||
| Q3 25 | $3.0B | — | ||
| Q2 25 | $173.0M | — | ||
| Q1 25 | $2.7B | — | ||
| Q4 24 | $3.3B | — | ||
| Q3 24 | $2.6B | — | ||
| Q2 24 | $-104.0M | $-42.2M | ||
| Q1 24 | $2.8B | $-80.7M |
自由现金流率MOTHS
| Q4 25 | 54.4% | — | ||
| Q3 25 | 50.1% | — | ||
| Q2 25 | 2.8% | — | ||
| Q1 25 | 51.0% | — | ||
| Q4 24 | 55.1% | — | ||
| Q3 24 | 41.2% | — | ||
| Q2 24 | -1.7% | -5.4% | ||
| Q1 24 | 51.0% | -9.8% |
资本支出强度MOTHS
| Q4 25 | 1.6% | — | ||
| Q3 25 | 0.9% | — | ||
| Q2 25 | 0.5% | — | ||
| Q1 25 | 0.7% | — | ||
| Q4 24 | 0.8% | — | ||
| Q3 24 | 0.5% | — | ||
| Q2 24 | 0.5% | 2.9% | ||
| Q1 24 | 0.6% | 3.4% |
现金转化率MOTHS
| Q4 25 | 2.93× | — | ||
| Q3 25 | 1.30× | — | ||
| Q2 25 | 0.09× | — | ||
| Q1 25 | 2.53× | — | ||
| Q4 24 | 1.10× | 5.05× | ||
| Q3 24 | 1.14× | — | ||
| Q2 24 | -0.02× | — | ||
| Q1 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
MO
| Smokeable Products Segment | $5.1B | 88% |
| Oral Tobacco Segment | $706.0M | 12% |
THS
| Retail Grocery Customers | $670.6M | 80% |
| Food Away From Home And Other | $85.3M | 10% |
| Co Manufacturing | $84.4M | 10% |
