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Primo Brands Corp（PRMB）与RH（RH）财务数据对比。点击上方公司名可切换其他公司
Primo Brands Corp的季度营收约是RH的1.8倍（$1.6B vs $883.8M），RH净利率更高（4.1% vs -0.8%，领先4.9%），RH自由现金流更多（$83.0M vs $57.3M）
Primo Brands Corp是一家美加合资饮用水企业，主营多规格桶装水、饮水机、自助补水设备及净水家电，总部位于美国佛罗里达州坦帕市，服务覆盖美国、加拿大、欧洲及以色列的住宅与商业客户。
RH是美国高端家居品牌，总部位于加利福尼亚州科尔特马德拉。品牌通过线下零售门店、产品目录和线上渠道发售家居商品，截至2018年8月，在美国和加拿大共运营70家展示馆、18家全系列设计展示馆、3家婴童家居展示馆，另有36家奥莱门店。
PRMB vs RH — 直观对比
营收规模更大
PRMB
是对方的1.8倍
$883.8M
净利率更高
RH
高出4.9%
-0.8%
自由现金流更多
RH
多$25.7M
$57.3M
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $883.8M |
| 净利润 | $-13.0M | $36.3M |
| 毛利率 | 27.7% | 44.1% |
| 营业利润率 | 1.2% | 12.0% |
| 净利率 | -0.8% | 4.1% |
| 营收同比 | — | 8.9% |
| 净利润同比 | — | 9.3% |
| 每股收益（稀释后） | $-0.03 | $1.83 |
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PRMBRH
| Q4 25 | $1.6B | $883.8M | ||
| Q3 25 | $1.8B | $899.2M | ||
| Q2 25 | $1.7B | $814.0M | ||
| Q1 25 | $1.6B | $812.4M | ||
| Q4 24 | — | $811.7M | ||
| Q3 24 | $0 | $829.7M | ||
| Q2 24 | $1.3B | $727.0M | ||
| Q1 24 | $1.1B | $738.3M |
净利润PRMBRH
| Q4 25 | $-13.0M | $36.3M | ||
| Q3 25 | $16.8M | $51.7M | ||
| Q2 25 | $27.6M | $8.0M | ||
| Q1 25 | $28.7M | $13.9M | ||
| Q4 24 | — | $33.2M | ||
| Q3 24 | $-2.0K | $29.0M | ||
| Q2 24 | $54.5M | $-3.6M | ||
| Q1 24 | $33.5M | $11.4M |
毛利率PRMBRH
| Q4 25 | 27.7% | 44.1% | ||
| Q3 25 | 29.9% | 45.5% | ||
| Q2 25 | 31.3% | 43.7% | ||
| Q1 25 | 32.3% | 44.7% | ||
| Q4 24 | — | 44.5% | ||
| Q3 24 | — | 45.2% | ||
| Q2 24 | 32.7% | 43.5% | ||
| Q1 24 | 30.4% | 43.5% |
营业利润率PRMBRH
| Q4 25 | 1.2% | 12.0% | ||
| Q3 25 | 8.3% | 14.3% | ||
| Q2 25 | 6.5% | 6.9% | ||
| Q1 25 | 9.5% | 8.7% | ||
| Q4 24 | — | 12.5% | ||
| Q3 24 | — | 11.6% | ||
| Q2 24 | 12.1% | 7.5% | ||
| Q1 24 | 11.0% | 8.7% |
净利率PRMBRH
| Q4 25 | -0.8% | 4.1% | ||
| Q3 25 | 1.0% | 5.8% | ||
| Q2 25 | 1.6% | 1.0% | ||
| Q1 25 | 1.8% | 1.7% | ||
| Q4 24 | — | 4.1% | ||
| Q3 24 | — | 3.5% | ||
| Q2 24 | 4.1% | -0.5% | ||
| Q1 24 | 2.9% | 1.5% |
每股收益（稀释后）PRMBRH
| Q4 25 | $-0.03 | $1.83 | ||
| Q3 25 | $0.04 | $2.62 | ||
| Q2 25 | $0.07 | $0.40 | ||
| Q1 25 | $0.08 | $0.71 | ||
| Q4 24 | — | $1.66 | ||
| Q3 24 | $-20.00 | $1.45 | ||
| Q2 24 | $0.25 | $-0.20 | ||
| Q1 24 | $0.15 | $0.91 |
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 | $376.7M | $43.1M |
| 总债务越低越好 | $5.2B | — |
| 股东权益账面价值 | $3.0B | $3.3M |
| 总资产 | $10.6B | $4.8B |
| 负债/权益比越低杠杆越低 | 1.72× | — |
8季度趋势，按日历期对齐
现金及短期投资PRMBRH
| Q4 25 | $376.7M | $43.1M | ||
| Q3 25 | — | $34.6M | ||
| Q2 25 | — | $46.1M | ||
| Q1 25 | — | $30.4M | ||
| Q4 24 | — | $87.0M | ||
| Q3 24 | — | $78.3M | ||
| Q2 24 | — | $101.8M | ||
| Q1 24 | — | $123.7M |
总债务PRMBRH
| Q4 25 | $5.2B | — | ||
| Q3 25 | $5.1B | — | ||
| Q2 25 | $5.1B | — | ||
| Q1 25 | $5.0B | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益PRMBRH
| Q4 25 | $3.0B | $3.3M | ||
| Q3 25 | $3.2B | $-40.9M | ||
| Q2 25 | $3.2B | $-110.8M | ||
| Q1 25 | $3.3B | $-163.6M | ||
| Q4 24 | — | $-183.0M | ||
| Q3 24 | $-2.0K | $-234.7M | ||
| Q2 24 | $-296.8M | $-289.9M | ||
| Q1 24 | $-349.8M | $-297.4M |
总资产PRMBRH
| Q4 25 | $10.6B | $4.8B | ||
| Q3 25 | $11.0B | $4.7B | ||
| Q2 25 | $11.0B | $4.7B | ||
| Q1 25 | $11.0B | $4.6B | ||
| Q4 24 | — | $4.5B | ||
| Q3 24 | $0 | $4.4B | ||
| Q2 24 | — | $4.2B | ||
| Q1 24 | — | $4.1B |
负债/权益比PRMBRH
| Q4 25 | 1.72× | — | ||
| Q3 25 | 1.61× | — | ||
| Q2 25 | 1.57× | — | ||
| Q1 25 | 1.51× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $203.1M | $131.9M |
| 自由现金流经营现金流 - 资本支出 | $57.3M | $83.0M |
| 自由现金流率自由现金流/营收 | 3.7% | 9.4% |
| 资本支出强度资本支出/营收 | 9.4% | 5.5% |
| 现金转化率经营现金流/净利润 | — | 3.64× |
| 过去12个月自由现金流最近4个季度 | $302.9M | $128.1M |
8季度趋势，按日历期对齐
经营现金流PRMBRH
| Q4 25 | $203.1M | $131.9M | ||
| Q3 25 | $283.4M | $137.7M | ||
| Q2 25 | $155.0M | $86.6M | ||
| Q1 25 | $38.8M | $-18.8M | ||
| Q4 24 | — | $-31.4M | ||
| Q3 24 | $0 | $11.2M | ||
| Q2 24 | $102.5M | $56.1M | ||
| Q1 24 | $6.0M | $-114.0M |
自由现金流PRMBRH
| Q4 25 | $57.3M | $83.0M | ||
| Q3 25 | $167.7M | $80.7M | ||
| Q2 25 | $101.1M | $34.1M | ||
| Q1 25 | $-23.2M | $-69.7M | ||
| Q4 24 | — | $-96.0M | ||
| Q3 24 | — | $-37.9M | ||
| Q2 24 | $61.4M | $-10.1M | ||
| Q1 24 | $-17.5M | $-251.5M |
自由现金流率PRMBRH
| Q4 25 | 3.7% | 9.4% | ||
| Q3 25 | 9.5% | 9.0% | ||
| Q2 25 | 5.8% | 4.2% | ||
| Q1 25 | -1.4% | -8.6% | ||
| Q4 24 | — | -11.8% | ||
| Q3 24 | — | -4.6% | ||
| Q2 24 | 4.7% | -1.4% | ||
| Q1 24 | -1.5% | -34.1% |
资本支出强度PRMBRH
| Q4 25 | 9.4% | 5.5% | ||
| Q3 25 | 6.6% | 6.3% | ||
| Q2 25 | 3.1% | 6.5% | ||
| Q1 25 | 3.8% | 6.3% | ||
| Q4 24 | — | 8.0% | ||
| Q3 24 | — | 5.9% | ||
| Q2 24 | 3.1% | 9.1% | ||
| Q1 24 | 2.1% | 18.6% |
现金转化率PRMBRH
| Q4 25 | — | 3.64× | ||
| Q3 25 | 16.87× | 2.66× | ||
| Q2 25 | 5.62× | 10.78× | ||
| Q1 25 | 1.35× | -1.35× | ||
| Q4 24 | — | -0.95× | ||
| Q3 24 | — | 0.39× | ||
| Q2 24 | 1.88× | — | ||
| Q1 24 | 0.18× | -10.01× |
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
PRMB
| Regional Spring Water | $765.1M | 49% |
| Purified Water | $484.5M | 31% |
| Other | $188.4M | 12% |
| Premium Water | $90.3M | 6% |
| Other Water | $25.8M | 2% |
RH
| RH Segment | $835.8M | 95% |
| Waterworks Segment | $48.0M | 5% |
| Gift Card And Merchandise Credit | $4.5M | 1% |
