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菲利普莫里斯国际（PM）与泰森食品（TSN）财务数据对比。点击上方公司名可切换其他公司
泰森食品的季度营收约是菲利普莫里斯国际的1.4倍（$14.3B vs $10.1B），菲利普莫里斯国际净利率更高（24.0% vs 0.6%，领先23.4%），菲利普莫里斯国际同比增速更快（9.1% vs 5.1%），过去两年泰森食品的营收复合增速更高（4.6% vs 3.5%）
菲利普莫里斯国际是全球头部烟草企业，产品销往180余个国家和地区，旗下万宝路是全球最知名的烟草品牌，2023年第四季度加热不燃烧产品IQOS贡献了最高营收，位列2025年财富美国500强第121位。
泰森食品是总部位于美国阿肯色州斯普林代尔的跨国食品企业，是仅次于JBS的全球第二大鸡肉、牛肉、猪肉加工销售商，同时是美国规模最大的肉类企业，常年位居美国牛肉出口占比首位，旗下运营泰森、Jimmy Dean、Hillshire Farm等多个知名食品品牌。
PM vs TSN — 直观对比
营收规模更大
TSN
是对方的1.4倍
$10.1B
营收增速更快
PM
高出4.0%
5.1%
净利率更高
PM
高出23.4%
0.6%
两年增速更快
TSN
近两年复合增速
3.5%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $10.1B | $14.3B |
| 净利润 | $2.4B | $85.0M |
| 毛利率 | 68.1% | 5.6% |
| 营业利润率 | 38.4% | 2.1% |
| 净利率 | 24.0% | 0.6% |
| 营收同比 | 9.1% | 5.1% |
| 净利润同比 | -9.4% | -76.3% |
| 每股收益（稀释后） | $1.56 | $0.24 |
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PMTSN
| Q1 26 | $10.1B | — | ||
| Q4 25 | $10.4B | $14.3B | ||
| Q3 25 | $10.8B | $13.9B | ||
| Q2 25 | $10.1B | $13.9B | ||
| Q1 25 | $9.3B | $13.1B | ||
| Q4 24 | $9.7B | $13.6B | ||
| Q3 24 | $9.9B | $13.6B | ||
| Q2 24 | $9.5B | $13.4B |
净利润PMTSN
| Q1 26 | $2.4B | — | ||
| Q4 25 | $2.1B | $85.0M | ||
| Q3 25 | $3.5B | $47.0M | ||
| Q2 25 | $3.0B | $61.0M | ||
| Q1 25 | $2.7B | $7.0M | ||
| Q4 24 | $-579.0M | $359.0M | ||
| Q3 24 | $3.1B | $357.0M | ||
| Q2 24 | $2.4B | $191.0M |
毛利率PMTSN
| Q1 26 | 68.1% | — | ||
| Q4 25 | 65.6% | 5.6% | ||
| Q3 25 | 67.8% | 5.2% | ||
| Q2 25 | 67.7% | 8.2% | ||
| Q1 25 | 67.3% | 4.6% | ||
| Q4 24 | 64.7% | 8.0% | ||
| Q3 24 | 66.0% | 7.8% | ||
| Q2 24 | 64.7% | 6.6% |
营业利润率PMTSN
| Q1 26 | 38.4% | — | ||
| Q4 25 | 32.6% | 2.1% | ||
| Q3 25 | 39.3% | 1.1% | ||
| Q2 25 | 36.6% | 1.9% | ||
| Q1 25 | 38.1% | 0.8% | ||
| Q4 24 | 33.6% | 4.3% | ||
| Q3 24 | 36.9% | 3.9% | ||
| Q2 24 | 36.4% | 2.6% |
净利率PMTSN
| Q1 26 | 24.0% | — | ||
| Q4 25 | 20.7% | 0.6% | ||
| Q3 25 | 32.1% | 0.3% | ||
| Q2 25 | 30.0% | 0.4% | ||
| Q1 25 | 28.9% | 0.1% | ||
| Q4 24 | -6.0% | 2.6% | ||
| Q3 24 | 31.1% | 2.6% | ||
| Q2 24 | 25.4% | 1.4% |
每股收益（稀释后）PMTSN
| Q1 26 | $1.56 | — | ||
| Q4 25 | $1.36 | $0.24 | ||
| Q3 25 | $2.23 | $0.13 | ||
| Q2 25 | $1.95 | $0.17 | ||
| Q1 25 | $1.72 | $0.02 | ||
| Q4 24 | $-0.37 | $1.01 | ||
| Q3 24 | $1.97 | $1.00 | ||
| Q2 24 | $1.54 | $0.54 |
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 | $5.5B | $1.3B |
| 总债务越低越好 | $49.5B | $7.5B |
| 股东权益账面价值 | — | $18.0B |
| 总资产 | $68.9B | $36.0B |
| 负债/权益比越低杠杆越低 | — | 0.41× |
8季度趋势，按日历期对齐
现金及短期投资PMTSN
| Q1 26 | $5.5B | — | ||
| Q4 25 | $4.9B | $1.3B | ||
| Q3 25 | $4.0B | $1.2B | ||
| Q2 25 | $4.1B | $1.5B | ||
| Q1 25 | $4.4B | $992.0M | ||
| Q4 24 | $4.2B | $2.3B | ||
| Q3 24 | $4.3B | $1.7B | ||
| Q2 24 | $4.8B | $2.6B |
总债务PMTSN
| Q1 26 | $49.5B | — | ||
| Q4 25 | $45.1B | $7.5B | ||
| Q3 25 | $41.9B | $7.9B | ||
| Q2 25 | $42.4B | $8.2B | ||
| Q1 25 | $38.8B | $8.2B | ||
| Q4 24 | $42.2B | $9.7B | ||
| Q3 24 | $44.2B | $9.7B | ||
| Q2 24 | $44.6B | $9.7B |
股东权益PMTSN
| Q1 26 | — | — | ||
| Q4 25 | $-10.0B | $18.0B | ||
| Q3 25 | $-10.9B | $18.1B | ||
| Q2 25 | $-12.0B | $18.3B | ||
| Q1 25 | $-10.9B | $18.4B | ||
| Q4 24 | $-11.8B | $18.5B | ||
| Q3 24 | $-9.7B | $18.4B | ||
| Q2 24 | $-9.7B | $18.1B |
总资产PMTSN
| Q1 26 | $68.9B | — | ||
| Q4 25 | $69.2B | $36.0B | ||
| Q3 25 | $67.1B | $36.7B | ||
| Q2 25 | $68.5B | $36.5B | ||
| Q1 25 | $65.1B | $36.3B | ||
| Q4 24 | $61.8B | $37.3B | ||
| Q3 24 | $66.9B | $37.1B | ||
| Q2 24 | $65.8B | $37.7B |
负债/权益比PMTSN
| Q1 26 | — | — | ||
| Q4 25 | — | 0.41× | ||
| Q3 25 | — | 0.44× | ||
| Q2 25 | — | 0.45× | ||
| Q1 25 | — | 0.44× | ||
| Q4 24 | — | 0.52× | ||
| Q3 24 | — | 0.53× | ||
| Q2 24 | — | 0.54× |
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 | — | $942.0M |
| 自由现金流经营现金流 - 资本支出 | — | $690.0M |
| 自由现金流率自由现金流/营收 | — | 4.8% |
| 资本支出强度资本支出/营收 | — | 1.8% |
| 现金转化率经营现金流/净利润 | — | 11.08× |
| 过去12个月自由现金流最近4个季度 | — | $1.1B |
8季度趋势，按日历期对齐
经营现金流PMTSN
| Q1 26 | — | — | ||
| Q4 25 | $4.7B | $942.0M | ||
| Q3 25 | $4.5B | $535.0M | ||
| Q2 25 | $3.4B | $774.0M | ||
| Q1 25 | $-350.0M | $-185.0M | ||
| Q4 24 | $4.0B | $1.0B | ||
| Q3 24 | $3.3B | $617.0M | ||
| Q2 24 | $4.6B | $796.0M |
自由现金流PMTSN
| Q1 26 | — | — | ||
| Q4 25 | $4.3B | $690.0M | ||
| Q3 25 | $4.1B | $248.0M | ||
| Q2 25 | $3.1B | $547.0M | ||
| Q1 25 | $-754.0M | $-378.0M | ||
| Q4 24 | $3.7B | $760.0M | ||
| Q3 24 | $3.0B | $369.0M | ||
| Q2 24 | $4.3B | $533.0M |
自由现金流率PMTSN
| Q1 26 | — | — | ||
| Q4 25 | 41.2% | 4.8% | ||
| Q3 25 | 37.8% | 1.8% | ||
| Q2 25 | 30.1% | 3.9% | ||
| Q1 25 | -8.1% | -2.9% | ||
| Q4 24 | 38.4% | 5.6% | ||
| Q3 24 | 29.9% | 2.7% | ||
| Q2 24 | 45.0% | 4.0% |
资本支出强度PMTSN
| Q1 26 | — | — | ||
| Q4 25 | 4.3% | 1.8% | ||
| Q3 25 | 3.4% | 2.1% | ||
| Q2 25 | 3.5% | 1.6% | ||
| Q1 25 | 4.3% | 1.5% | ||
| Q4 24 | 2.9% | 2.0% | ||
| Q3 24 | 3.8% | 1.8% | ||
| Q2 24 | 3.9% | 2.0% |
现金转化率PMTSN
| Q1 26 | — | — | ||
| Q4 25 | 2.20× | 11.08× | ||
| Q3 25 | 1.28× | 11.38× | ||
| Q2 25 | 1.12× | 12.69× | ||
| Q1 25 | -0.13× | -26.43× | ||
| Q4 24 | — | 2.87× | ||
| Q3 24 | 1.08× | 1.73× | ||
| Q2 24 | 1.93× | 4.17× |
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
PM
暂无分部数据
TSN
| Beef | $5.8B | 40% |
| Retail Sales Channel | $2.9B | 20% |
| Pork | $1.6B | 11% |
| Foodservice Sales Channel | $1.6B | 11% |
| Other | $776.0M | 5% |
| Industrialand Other Sales Channel | $575.0M | 4% |
| International Sales Channel | $542.0M | 4% |
| Intersegment Revenues | $534.0M | 4% |
