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PVH CORP.（PVH）与RXO, Inc.（RXO）财务数据对比。点击上方公司名可切换其他公司
PVH CORP.的季度营收约是RXO, Inc.的1.6倍（$2.3B vs $1.5B），PVH CORP.净利率更高（0.2% vs -3.1%，领先3.3%），PVH CORP.同比增速更快（1.7% vs -11.9%），RXO, Inc.自由现金流更多（$-9.0M vs $-85.1M）
PVH集团是源自美国的知名服饰企业，前身为Phillips-Van Heusen公司，旗下拥有Tommy Hilfiger、Calvin Klein等标志性时尚品牌，同时还获得Kenneth Cole New York、Michael Kors等品牌的授权经营许可，在全球服饰消费市场拥有广泛影响力。
RXO是总部位于美国的头部运输及物流解决方案供应商，核心业务覆盖货运经纪、大件商品最后一公里配送、运输管理服务与全链路供应链优化支持，主要服务北美制造业、零售业及电商领域的客户。
PVH vs RXO — 直观对比
营收规模更大
PVH
是对方的1.6倍
$1.5B
营收增速更快
PVH
高出13.6%
-11.9%
净利率更高
PVH
高出3.3%
-3.1%
自由现金流更多
RXO
多$76.1M
$-85.1M
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.3B | $1.5B |
| 净利润 | $4.2M | $-46.0M |
| 毛利率 | 56.3% | — |
| 营业利润率 | 7.9% | -2.9% |
| 净利率 | 0.2% | -3.1% |
| 营收同比 | 1.7% | -11.9% |
| 净利润同比 | -96.8% | -84.0% |
| 每股收益（稀释后） | $0.09 | $-0.28 |
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PVHRXO
| Q4 25 | $2.3B | $1.5B | ||
| Q3 25 | $2.2B | $1.4B | ||
| Q2 25 | $2.0B | $1.4B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | — | $1.0B | ||
| Q2 24 | — | $930.0M | ||
| Q1 24 | — | $913.0M |
净利润PVHRXO
| Q4 25 | $4.2M | $-46.0M | ||
| Q3 25 | $224.2M | $-14.0M | ||
| Q2 25 | $-44.8M | $-9.0M | ||
| Q1 25 | — | $-31.0M | ||
| Q4 24 | — | $-25.0M | ||
| Q3 24 | — | $-243.0M | ||
| Q2 24 | — | $-7.0M | ||
| Q1 24 | — | $-15.0M |
毛利率PVHRXO
| Q4 25 | 56.3% | — | ||
| Q3 25 | 57.7% | — | ||
| Q2 25 | 58.6% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
营业利润率PVHRXO
| Q4 25 | 7.9% | -2.9% | ||
| Q3 25 | 6.1% | -0.5% | ||
| Q2 25 | -16.7% | — | ||
| Q1 25 | — | -2.1% | ||
| Q4 24 | — | -1.4% | ||
| Q3 24 | — | -1.9% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -1.3% |
净利率PVHRXO
| Q4 25 | 0.2% | -3.1% | ||
| Q3 25 | 10.3% | -1.0% | ||
| Q2 25 | -2.3% | -0.6% | ||
| Q1 25 | — | -2.2% | ||
| Q4 24 | — | -1.5% | ||
| Q3 24 | — | -23.4% | ||
| Q2 24 | — | -0.8% | ||
| Q1 24 | — | -1.6% |
每股收益（稀释后）PVHRXO
| Q4 25 | $0.09 | $-0.28 | ||
| Q3 25 | $4.63 | $-0.08 | ||
| Q2 25 | $-0.88 | $-0.05 | ||
| Q1 25 | — | $-0.18 | ||
| Q4 24 | — | $-0.17 | ||
| Q3 24 | — | $-1.81 | ||
| Q2 24 | — | $-0.06 | ||
| Q1 24 | — | $-0.13 |
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 | $158.2M | $17.0M |
| 总债务越低越好 | $2.3B | $387.0M |
| 股东权益账面价值 | $4.9B | $1.5B |
| 总资产 | $11.4B | $3.3B |
| 负债/权益比越低杠杆越低 | 0.46× | 0.25× |
8季度趋势，按日历期对齐
现金及短期投资PVHRXO
| Q4 25 | $158.2M | $17.0M | ||
| Q3 25 | $248.8M | $25.0M | ||
| Q2 25 | $191.0M | $18.0M | ||
| Q1 25 | — | $16.0M | ||
| Q4 24 | — | $35.0M | ||
| Q3 24 | — | $55.0M | ||
| Q2 24 | — | $7.0M | ||
| Q1 24 | — | $7.0M |
总债务PVHRXO
| Q4 25 | $2.3B | $387.0M | ||
| Q3 25 | $2.3B | $387.0M | ||
| Q2 25 | $2.2B | $387.0M | ||
| Q1 25 | — | $387.0M | ||
| Q4 24 | — | $351.0M | ||
| Q3 24 | — | $352.0M | ||
| Q2 24 | — | $370.0M | ||
| Q1 24 | — | $351.0M |
股东权益PVHRXO
| Q4 25 | $4.9B | $1.5B | ||
| Q3 25 | $4.9B | $1.6B | ||
| Q2 25 | $4.6B | $1.6B | ||
| Q1 25 | — | $1.6B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $579.0M | ||
| Q1 24 | — | $582.0M |
总资产PVHRXO
| Q4 25 | $11.4B | $3.3B | ||
| Q3 25 | $11.6B | $3.2B | ||
| Q2 25 | $10.7B | $3.2B | ||
| Q1 25 | — | $3.3B | ||
| Q4 24 | — | $3.4B | ||
| Q3 24 | — | $3.4B | ||
| Q2 24 | — | $1.8B | ||
| Q1 24 | — | $1.8B |
负债/权益比PVHRXO
| Q4 25 | 0.46× | 0.25× | ||
| Q3 25 | 0.47× | 0.24× | ||
| Q2 25 | 0.48× | 0.24× | ||
| Q1 25 | — | 0.24× | ||
| Q4 24 | — | 0.22× | ||
| Q3 24 | — | 0.21× | ||
| Q2 24 | — | 0.64× | ||
| Q1 24 | — | 0.60× |
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 | $-44.5M | $7.0M |
| 自由现金流经营现金流 - 资本支出 | $-85.1M | $-9.0M |
| 自由现金流率自由现金流/营收 | -3.7% | -0.6% |
| 资本支出强度资本支出/营收 | 1.8% | 1.1% |
| 现金转化率经营现金流/净利润 | -10.60× | — |
| 过去12个月自由现金流最近4个季度 | — | $-8.0M |
8季度趋势，按日历期对齐
经营现金流PVHRXO
| Q4 25 | $-44.5M | $7.0M | ||
| Q3 25 | $213.1M | $23.0M | ||
| Q2 25 | $-71.4M | $23.0M | ||
| Q1 25 | — | $-2.0M | ||
| Q4 24 | — | $-7.0M | ||
| Q3 24 | — | $-7.0M | ||
| Q2 24 | — | $-5.0M | ||
| Q1 24 | — | $7.0M |
自由现金流PVHRXO
| Q4 25 | $-85.1M | $-9.0M | ||
| Q3 25 | $181.9M | $9.0M | ||
| Q2 25 | $-98.1M | $9.0M | ||
| Q1 25 | — | $-17.0M | ||
| Q4 24 | — | $-19.0M | ||
| Q3 24 | — | $-18.0M | ||
| Q2 24 | — | $-16.0M | ||
| Q1 24 | — | $-4.0M |
自由现金流率PVHRXO
| Q4 25 | -3.7% | -0.6% | ||
| Q3 25 | 8.4% | 0.6% | ||
| Q2 25 | -4.9% | 0.6% | ||
| Q1 25 | — | -1.2% | ||
| Q4 24 | — | -1.1% | ||
| Q3 24 | — | -1.7% | ||
| Q2 24 | — | -1.7% | ||
| Q1 24 | — | -0.4% |
资本支出强度PVHRXO
| Q4 25 | 1.8% | 1.1% | ||
| Q3 25 | 1.4% | 1.0% | ||
| Q2 25 | 1.3% | 1.0% | ||
| Q1 25 | — | 1.0% | ||
| Q4 24 | — | 0.7% | ||
| Q3 24 | — | 1.1% | ||
| Q2 24 | — | 1.2% | ||
| Q1 24 | — | 1.2% |
现金转化率PVHRXO
| Q4 25 | -10.60× | — | ||
| Q3 25 | 0.95× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| 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
PVH
| Sales Channel Salesto Wholesale Customers | $1.0B | 44% |
| Sales Channel Sales To Owned And Operated Retail Customers | $868.0M | 38% |
| Sales Channel Sales To Owned And Operated Digital Retail Customers | $186.6M | 8% |
| Licensing | $99.5M | 4% |
| Other | $75.8M | 3% |
| Heritage Brands | $51.3M | 2% |
RXO
| Retail Sector | $546.0M | 37% |
| Last Mile | $298.0M | 20% |
| Food And Beverage Sector | $225.0M | 15% |
| Other Sector | $185.0M | 13% |
| Managed Transportation | $133.0M | 9% |
| Automotive Sector | $93.0M | 6% |
