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摩根士丹利（MS）与US Foods Holding Corp.（USFD）财务数据对比。点击上方公司名可切换其他公司
摩根士丹利的季度营收约是US Foods Holding Corp.的1.8倍（$17.9B vs $9.8B），摩根士丹利净利率更高（24.6% vs 1.9%，领先22.7%）
摩根士丹利是总部位于美国纽约曼哈顿中城百老汇1585号的跨国投资银行及金融服务提供商，在全球42个国家设有办事处，员工超8万名，服务客户涵盖企业、政府、机构及个人。2023年该公司位列美国财富500强第61位，同年位居福布斯全球2000强第30位。
US Foods Holding Corp.是美国第二大食品服务分销商，规模仅次于Sysco。公司服务覆盖独立餐厅、连锁餐饮、医疗保健、酒店、教育机构等共计25万个场点，为各类客户提供食品配送及相关供应链服务，业务覆盖场景十分多元。
MS vs USFD — 直观对比
营收规模更大
MS
是对方的1.8倍
$9.8B
净利率更高
MS
高出22.7%
1.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $17.9B | $9.8B |
| 净利润 | $4.4B | $184.0M |
| 毛利率 | — | 17.6% |
| 营业利润率 | 32.2% | 3.3% |
| 净利率 | 24.6% | 1.9% |
| 营收同比 | — | 3.3% |
| 净利润同比 | — | 178.8% |
| 每股收益（稀释后） | $2.68 | $0.82 |
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MSUSFD
| Q4 25 | $17.9B | $9.8B | ||
| Q3 25 | $18.2B | $10.2B | ||
| Q2 25 | $16.8B | $10.1B | ||
| Q1 25 | $17.7B | $9.4B | ||
| Q4 24 | — | $9.5B | ||
| Q3 24 | $15.4B | $9.7B | ||
| Q2 24 | $15.0B | $9.7B | ||
| Q1 24 | $15.1B | $8.9B |
净利润MSUSFD
| Q4 25 | $4.4B | $184.0M | ||
| Q3 25 | $4.6B | $153.0M | ||
| Q2 25 | $3.5B | $224.0M | ||
| Q1 25 | $4.3B | $115.0M | ||
| Q4 24 | — | $66.0M | ||
| Q3 24 | $3.2B | $148.0M | ||
| Q2 24 | $3.1B | $198.0M | ||
| Q1 24 | $3.4B | $82.0M |
毛利率MSUSFD
| Q4 25 | — | 17.6% | ||
| Q3 25 | — | 17.2% | ||
| Q2 25 | — | 17.6% | ||
| Q1 25 | — | 17.3% | ||
| Q4 24 | — | 17.6% | ||
| Q3 24 | — | 17.1% | ||
| Q2 24 | — | 17.6% | ||
| Q1 24 | — | 16.7% |
营业利润率MSUSFD
| Q4 25 | 32.2% | 3.3% | ||
| Q3 25 | 33.1% | 2.8% | ||
| Q2 25 | 27.5% | 3.7% | ||
| Q1 25 | 31.3% | 2.4% | ||
| Q4 24 | — | 3.2% | ||
| Q3 24 | 27.4% | 2.9% | ||
| Q2 24 | 27.1% | 3.6% | ||
| Q1 24 | 29.0% | 1.8% |
净利率MSUSFD
| Q4 25 | 24.6% | 1.9% | ||
| Q3 25 | 25.3% | 1.5% | ||
| Q2 25 | 21.1% | 2.2% | ||
| Q1 25 | 24.3% | 1.2% | ||
| Q4 24 | — | 0.7% | ||
| Q3 24 | 20.7% | 1.5% | ||
| Q2 24 | 20.5% | 2.0% | ||
| Q1 24 | 22.5% | 0.9% |
每股收益（稀释后）MSUSFD
| Q4 25 | $2.68 | $0.82 | ||
| Q3 25 | $2.80 | $0.67 | ||
| Q2 25 | $2.13 | $0.96 | ||
| Q1 25 | $2.60 | $0.49 | ||
| Q4 24 | — | $0.28 | ||
| Q3 24 | $1.88 | $0.61 | ||
| Q2 24 | $1.82 | $0.80 | ||
| Q1 24 | $2.02 | $0.33 |
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 | $111.7B | $41.0M |
| 总债务越低越好 | $341.7B | $5.1B |
| 股东权益账面价值 | $111.6B | $4.3B |
| 总资产 | $1420.3B | $13.9B |
| 负债/权益比越低杠杆越低 | 3.06× | 1.18× |
8季度趋势，按日历期对齐
现金及短期投资MSUSFD
| Q4 25 | $111.7B | $41.0M | ||
| Q3 25 | $103.7B | $56.0M | ||
| Q2 25 | $109.1B | $61.0M | ||
| Q1 25 | $90.7B | $101.0M | ||
| Q4 24 | — | $59.0M | ||
| Q3 24 | $91.1B | $81.0M | ||
| Q2 24 | $90.2B | $405.0M | ||
| Q1 24 | $102.3B | $267.0M |
总债务MSUSFD
| Q4 25 | $341.7B | $5.1B | ||
| Q3 25 | $324.1B | $4.8B | ||
| Q2 25 | $320.1B | $4.7B | ||
| Q1 25 | $297.0B | $4.7B | ||
| Q4 24 | — | $4.8B | ||
| Q3 24 | $291.2B | $4.7B | ||
| Q2 24 | $269.9B | $4.6B | ||
| Q1 24 | $266.1B | $4.6B |
股东权益MSUSFD
| Q4 25 | $111.6B | $4.3B | ||
| Q3 25 | $110.0B | $4.5B | ||
| Q2 25 | $108.2B | $4.6B | ||
| Q1 25 | $106.8B | $4.6B | ||
| Q4 24 | — | $4.5B | ||
| Q3 24 | $103.6B | $4.6B | ||
| Q2 24 | $100.7B | $5.0B | ||
| Q1 24 | $99.2B | $4.8B |
总资产MSUSFD
| Q4 25 | $1420.3B | $13.9B | ||
| Q3 25 | $1364.8B | $14.0B | ||
| Q2 25 | $1353.9B | $13.8B | ||
| Q1 25 | $1300.3B | $13.7B | ||
| Q4 24 | — | $13.4B | ||
| Q3 24 | $1258.0B | $13.5B | ||
| Q2 24 | $1212.4B | $13.7B | ||
| Q1 24 | $1228.5B | $13.4B |
负债/权益比MSUSFD
| Q4 25 | 3.06× | 1.18× | ||
| Q3 25 | 2.95× | 1.08× | ||
| Q2 25 | 2.96× | 1.02× | ||
| Q1 25 | 2.78× | 1.02× | ||
| Q4 24 | — | 1.06× | ||
| Q3 24 | 2.81× | 1.01× | ||
| Q2 24 | 2.68× | 0.92× | ||
| Q1 24 | 2.68× | 0.95× |
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 | $-2.4B | $293.0M |
| 自由现金流经营现金流 - 资本支出 | — | $159.0M |
| 自由现金流率自由现金流/营收 | — | 1.6% |
| 资本支出强度资本支出/营收 | — | 1.4% |
| 现金转化率经营现金流/净利润 | -0.55× | 1.59× |
| 过去12个月自由现金流最近4个季度 | — | $959.0M |
8季度趋势，按日历期对齐
经营现金流MSUSFD
| Q4 25 | $-2.4B | $293.0M | ||
| Q3 25 | $-3.3B | $351.0M | ||
| Q2 25 | $11.8B | $334.0M | ||
| Q1 25 | $-24.0B | $391.0M | ||
| Q4 24 | — | $283.0M | ||
| Q3 24 | — | $270.0M | ||
| Q2 24 | — | $482.0M | ||
| Q1 24 | $4.4B | $139.0M |
自由现金流MSUSFD
| Q4 25 | — | $159.0M | ||
| Q3 25 | — | $236.0M | ||
| Q2 25 | — | $257.0M | ||
| Q1 25 | — | $307.0M | ||
| Q4 24 | — | $178.0M | ||
| Q3 24 | — | $190.0M | ||
| Q2 24 | — | $413.0M | ||
| Q1 24 | — | $52.0M |
自由现金流率MSUSFD
| Q4 25 | — | 1.6% | ||
| Q3 25 | — | 2.3% | ||
| Q2 25 | — | 2.5% | ||
| Q1 25 | — | 3.3% | ||
| Q4 24 | — | 1.9% | ||
| Q3 24 | — | 2.0% | ||
| Q2 24 | — | 4.3% | ||
| Q1 24 | — | 0.6% |
资本支出强度MSUSFD
| Q4 25 | — | 1.4% | ||
| Q3 25 | — | 1.1% | ||
| Q2 25 | — | 0.8% | ||
| Q1 25 | — | 0.9% | ||
| Q4 24 | — | 1.1% | ||
| Q3 24 | — | 0.8% | ||
| Q2 24 | — | 0.7% | ||
| Q1 24 | — | 1.0% |
现金转化率MSUSFD
| Q4 25 | -0.55× | 1.59× | ||
| Q3 25 | -0.72× | 2.29× | ||
| Q2 25 | 3.34× | 1.49× | ||
| Q1 25 | -5.56× | 3.40× | ||
| Q4 24 | — | 4.29× | ||
| Q3 24 | — | 1.82× | ||
| Q2 24 | — | 2.43× | ||
| Q1 24 | 1.28× | 1.70× |
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
MS
暂无分部数据
USFD
| Product One | $3.5B | 36% |
| Product Two | $1.7B | 17% |
| Product Three | $1.7B | 17% |
| Product Four | $985.0M | 10% |
| Product Five | $901.0M | 9% |
| Product Six | $580.0M | 6% |
| Product Seven | $485.0M | 5% |
