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NEWELL BRANDS INC.（NWL）与SHOPIFY INC.（SHOP）财务数据对比。点击上方公司名可切换其他公司
SHOPIFY INC.的季度营收约是NEWELL BRANDS INC.的1.9倍（$3.7B vs $1.9B），SHOPIFY INC.净利率更高（20.2% vs -16.6%，领先36.8%），SHOPIFY INC.同比增速更快（30.6% vs -2.7%），SHOPIFY INC.自由现金流更多（$715.0M vs $91.0M），过去两年SHOPIFY INC.的营收复合增速更高（40.5% vs 7.1%）
纽威品牌公司（Newell Brands）是美国知名消费品与商用产品集团，旗下拥有多个广受欢迎的品牌，涵盖乐柏美（Rubbermaid）收纳及废弃物处理容器、家居收纳与可重复使用容器，Contigo、Bubba运动水杯，Coleman户外用品，文具胶水、儿童用品、炊具、小家电以及香氛产品等多元品类，覆盖日常生活多场景需求。
Shopify是总部位于加拿大安大略省渥太华的跨国电商企业，运营零售POS系统及相关服务平台，全球客户超500万，2024年总交易处理额达2923亿美元，其中57%来自美国市场，服务客户包括特斯拉、路威酩轩、雀巢、百事、百威英博、红牛、凯悦等知名品牌。
NWL vs SHOP — 直观对比
营收规模更大
SHOP
是对方的1.9倍
$1.9B
营收增速更快
SHOP
高出33.3%
-2.7%
净利率更高
SHOP
高出36.8%
-16.6%
自由现金流更多
SHOP
多$624.0M
$91.0M
两年增速更快
SHOP
近两年复合增速
7.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $3.7B |
| 净利润 | $-315.0M | $743.0M |
| 毛利率 | 33.1% | 46.1% |
| 营业利润率 | -14.3% | 17.2% |
| 净利率 | -16.6% | 20.2% |
| 营收同比 | -2.7% | 30.6% |
| 净利润同比 | -483.3% | -42.5% |
| 每股收益（稀释后） | $-0.75 | $0.58 |
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NWLSHOP
| Q4 25 | $1.9B | $3.7B | ||
| Q3 25 | $1.8B | $2.8B | ||
| Q2 25 | $1.9B | $2.7B | ||
| Q1 25 | $1.6B | $2.4B | ||
| Q4 24 | $1.9B | $2.8B | ||
| Q3 24 | $1.9B | $2.2B | ||
| Q2 24 | $2.0B | $2.0B | ||
| Q1 24 | $1.7B | $1.9B |
净利润NWLSHOP
| Q4 25 | $-315.0M | $743.0M | ||
| Q3 25 | $21.0M | $264.0M | ||
| Q2 25 | $46.0M | $906.0M | ||
| Q1 25 | $-37.0M | $-682.0M | ||
| Q4 24 | $-54.0M | $1.3B | ||
| Q3 24 | $-198.0M | $828.0M | ||
| Q2 24 | $45.0M | $171.0M | ||
| Q1 24 | $-9.0M | $-273.0M |
毛利率NWLSHOP
| Q4 25 | 33.1% | 46.1% | ||
| Q3 25 | 34.1% | 48.9% | ||
| Q2 25 | 35.4% | 48.6% | ||
| Q1 25 | 32.1% | 49.5% | ||
| Q4 24 | 34.2% | 48.1% | ||
| Q3 24 | 34.9% | 51.7% | ||
| Q2 24 | 34.4% | 51.1% | ||
| Q1 24 | 30.5% | 51.4% |
营业利润率NWLSHOP
| Q4 25 | -14.3% | 17.2% | ||
| Q3 25 | 6.6% | 12.1% | ||
| Q2 25 | 8.8% | 10.9% | ||
| Q1 25 | 1.3% | 8.6% | ||
| Q4 24 | 0.5% | 16.5% | ||
| Q3 24 | -6.2% | 13.1% | ||
| Q2 24 | 8.0% | 11.8% | ||
| Q1 24 | 1.0% | 4.6% |
净利率NWLSHOP
| Q4 25 | -16.6% | 20.2% | ||
| Q3 25 | 1.2% | 9.3% | ||
| Q2 25 | 2.4% | 33.8% | ||
| Q1 25 | -2.4% | -28.9% | ||
| Q4 24 | -2.8% | 46.0% | ||
| Q3 24 | -10.2% | 38.3% | ||
| Q2 24 | 2.2% | 8.4% | ||
| Q1 24 | -0.5% | -14.7% |
每股收益（稀释后）NWLSHOP
| Q4 25 | $-0.75 | $0.58 | ||
| Q3 25 | $0.05 | $0.20 | ||
| Q2 25 | $0.11 | $0.69 | ||
| Q1 25 | $-0.09 | $-0.53 | ||
| Q4 24 | $-0.13 | $0.99 | ||
| Q3 24 | $-0.48 | $0.64 | ||
| Q2 24 | $0.11 | $0.13 | ||
| Q1 24 | $-0.02 | $-0.21 |
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 | $203.0M | $5.8B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.4B | $13.5B |
| 总资产 | $10.7B | $15.2B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资NWLSHOP
| Q4 25 | $203.0M | $5.8B | ||
| Q3 25 | $229.0M | $6.3B | ||
| Q2 25 | $219.0M | $5.8B | ||
| Q1 25 | $233.0M | $5.5B | ||
| Q4 24 | $198.0M | $5.5B | ||
| Q3 24 | $494.0M | — | ||
| Q2 24 | $382.0M | — | ||
| Q1 24 | $372.0M | — |
股东权益NWLSHOP
| Q4 25 | $2.4B | $13.5B | ||
| Q3 25 | $2.7B | $12.5B | ||
| Q2 25 | $2.7B | $12.1B | ||
| Q1 25 | $2.7B | $11.1B | ||
| Q4 24 | $2.8B | $11.6B | ||
| Q3 24 | $2.9B | $10.1B | ||
| Q2 24 | $3.1B | $9.2B | ||
| Q1 24 | $3.1B | $8.9B |
总资产NWLSHOP
| Q4 25 | $10.7B | $15.2B | ||
| Q3 25 | $11.3B | $15.0B | ||
| Q2 25 | $11.5B | $14.6B | ||
| Q1 25 | $11.3B | $13.4B | ||
| Q4 24 | $11.0B | $13.9B | ||
| Q3 24 | $11.8B | — | ||
| Q2 24 | $12.0B | — | ||
| Q1 24 | $12.1B | — |
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 | $161.0M | $725.0M |
| 自由现金流经营现金流 - 资本支出 | $91.0M | $715.0M |
| 自由现金流率自由现金流/营收 | 4.8% | 19.5% |
| 资本支出强度资本支出/营收 | 3.7% | 0.3% |
| 现金转化率经营现金流/净利润 | — | 0.98× |
| 过去12个月自由现金流最近4个季度 | $17.0M | $2.0B |
8季度趋势，按日历期对齐
经营现金流NWLSHOP
| Q4 25 | $161.0M | $725.0M | ||
| Q3 25 | $374.0M | $513.0M | ||
| Q2 25 | $-58.0M | $428.0M | ||
| Q1 25 | $-213.0M | $367.0M | ||
| Q4 24 | $150.0M | $615.0M | ||
| Q3 24 | $282.0M | $423.0M | ||
| Q2 24 | $32.0M | $340.0M | ||
| Q1 24 | $32.0M | $238.0M |
自由现金流NWLSHOP
| Q4 25 | $91.0M | $715.0M | ||
| Q3 25 | $315.0M | $507.0M | ||
| Q2 25 | $-117.0M | $422.0M | ||
| Q1 25 | $-272.0M | $363.0M | ||
| Q4 24 | $54.0M | $611.0M | ||
| Q3 24 | $231.0M | $421.0M | ||
| Q2 24 | $-21.0M | $333.0M | ||
| Q1 24 | $-27.0M | $232.0M |
自由现金流率NWLSHOP
| Q4 25 | 4.8% | 19.5% | ||
| Q3 25 | 17.4% | 17.8% | ||
| Q2 25 | -6.0% | 15.7% | ||
| Q1 25 | -17.4% | 15.4% | ||
| Q4 24 | 2.8% | 21.7% | ||
| Q3 24 | 11.9% | 19.5% | ||
| Q2 24 | -1.0% | 16.3% | ||
| Q1 24 | -1.6% | 12.5% |
资本支出强度NWLSHOP
| Q4 25 | 3.7% | 0.3% | ||
| Q3 25 | 3.3% | 0.2% | ||
| Q2 25 | 3.0% | 0.2% | ||
| Q1 25 | 3.8% | 0.2% | ||
| Q4 24 | 4.9% | 0.1% | ||
| Q3 24 | 2.6% | 0.1% | ||
| Q2 24 | 2.6% | 0.3% | ||
| Q1 24 | 3.6% | 0.3% |
现金转化率NWLSHOP
| Q4 25 | — | 0.98× | ||
| Q3 25 | 17.81× | 1.94× | ||
| Q2 25 | -1.26× | 0.47× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.48× | ||
| Q3 24 | — | 0.51× | ||
| Q2 24 | 0.71× | 1.99× | ||
| 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
NWL
| Kitchen | $538.0M | 28% |
| Writing | $370.0M | 20% |
| Commercial | $320.0M | 17% |
| Financial Institution Two | $286.0M | 15% |
| Baby | $259.0M | 14% |
| Outdoor And Recreation | $142.0M | 7% |
SHOP
| Services | $2.9B | 79% |
| Subscription And Circulation | $777.0M | 21% |
