vs
PVH CORP.（PVH）与Snowflake Inc.（SNOW）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Snowflake Inc.的1.9倍（$2.3B vs $1.2B），PVH CORP.净利率更高（0.2% vs -24.2%，领先24.4%），Snowflake Inc.同比增速更快（28.7% vs 1.7%），Snowflake Inc.自由现金流更多（$113.6M 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。
Snowflake Inc.是美国云数据平台服务商，创立于加利福尼亚州圣马特奥，总部位于蒙大拿州博兹曼。旗下平台支持数据分析功能，可实现数据集的低延迟并发访问，服务运行在亚马逊云科技、微软Azure、谷歌云三大公有云平台上。
PVH vs SNOW — 直观对比
营收规模更大
PVH
是对方的1.9倍
$1.2B
营收增速更快
SNOW
高出27.0%
1.7%
净利率更高
PVH
高出24.4%
-24.2%
自由现金流更多
SNOW
多$198.7M
$-85.1M
损益表 — Q3 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.3B | $1.2B |
| 净利润 | $4.2M | $-294.0M |
| 毛利率 | 56.3% | 67.8% |
| 营业利润率 | 7.9% | -27.2% |
| 净利率 | 0.2% | -24.2% |
| 营收同比 | 1.7% | 28.7% |
| 净利润同比 | -96.8% | 9.4% |
| 每股收益（稀释后） | $0.09 | $-0.87 |
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PVHSNOW
| Q4 25 | $2.3B | $1.2B | ||
| Q3 25 | $2.2B | $1.1B | ||
| Q2 25 | $2.0B | $1.0B | ||
| Q1 25 | — | $986.8M | ||
| Q4 24 | — | $942.1M | ||
| Q3 24 | — | $868.8M | ||
| Q2 24 | — | $828.7M | ||
| Q1 24 | — | $774.7M |
净利润PVHSNOW
| Q4 25 | $4.2M | $-294.0M | ||
| Q3 25 | $224.2M | $-298.0M | ||
| Q2 25 | $-44.8M | $-430.1M | ||
| Q1 25 | — | $-327.5M | ||
| Q4 24 | — | $-324.3M | ||
| Q3 24 | — | $-316.9M | ||
| Q2 24 | — | $-317.0M | ||
| Q1 24 | — | $-169.4M |
毛利率PVHSNOW
| Q4 25 | 56.3% | 67.8% | ||
| Q3 25 | 57.7% | 67.5% | ||
| Q2 25 | 58.6% | 66.5% | ||
| Q1 25 | — | 66.2% | ||
| Q4 24 | — | 65.9% | ||
| Q3 24 | — | 66.8% | ||
| Q2 24 | — | 67.1% | ||
| Q1 24 | — | 68.8% |
营业利润率PVHSNOW
| Q4 25 | 7.9% | -27.2% | ||
| Q3 25 | 6.1% | -29.7% | ||
| Q2 25 | -16.7% | -42.9% | ||
| Q1 25 | — | -39.2% | ||
| Q4 24 | — | -38.8% | ||
| Q3 24 | — | -40.9% | ||
| Q2 24 | — | -42.1% | ||
| Q1 24 | — | -35.6% |
净利率PVHSNOW
| Q4 25 | 0.2% | -24.2% | ||
| Q3 25 | 10.3% | -26.0% | ||
| Q2 25 | -2.3% | -41.3% | ||
| Q1 25 | — | -33.2% | ||
| Q4 24 | — | -34.4% | ||
| Q3 24 | — | -36.5% | ||
| Q2 24 | — | -38.3% | ||
| Q1 24 | — | -21.9% |
每股收益（稀释后）PVHSNOW
| Q4 25 | $0.09 | $-0.87 | ||
| Q3 25 | $4.63 | $-0.89 | ||
| Q2 25 | $-0.88 | $-1.29 | ||
| Q1 25 | — | $-0.98 | ||
| Q4 24 | — | $-0.98 | ||
| Q3 24 | — | $-0.95 | ||
| Q2 24 | — | $-0.95 | ||
| Q1 24 | — | $-0.51 |
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 | $1.9B |
| 总债务越低越好 | $2.3B | — |
| 股东权益账面价值 | $4.9B | $2.1B |
| 总资产 | $11.4B | $8.2B |
| 负债/权益比越低杠杆越低 | 0.46× | — |
8季度趋势，按日历期对齐
现金及短期投资PVHSNOW
| Q4 25 | $158.2M | $1.9B | ||
| Q3 25 | $248.8M | $1.9B | ||
| Q2 25 | $191.0M | $2.2B | ||
| Q1 25 | — | $2.6B | ||
| Q4 24 | — | $2.1B | ||
| Q3 24 | — | $1.3B | ||
| Q2 24 | — | $1.3B | ||
| Q1 24 | — | $1.8B |
总债务PVHSNOW
| Q4 25 | $2.3B | — | ||
| Q3 25 | $2.3B | — | ||
| Q2 25 | $2.2B | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益PVHSNOW
| Q4 25 | $4.9B | $2.1B | ||
| Q3 25 | $4.9B | $2.4B | ||
| Q2 25 | $4.6B | $2.4B | ||
| Q1 25 | — | $3.0B | ||
| Q4 24 | — | $2.9B | ||
| Q3 24 | — | $4.1B | ||
| Q2 24 | — | $4.6B | ||
| Q1 24 | — | $5.2B |
总资产PVHSNOW
| Q4 25 | $11.4B | $8.2B | ||
| Q3 25 | $11.6B | $8.2B | ||
| Q2 25 | $10.7B | $8.2B | ||
| Q1 25 | — | $9.0B | ||
| Q4 24 | — | $8.2B | ||
| Q3 24 | — | $6.9B | ||
| Q2 24 | — | $7.3B | ||
| Q1 24 | — | $8.2B |
负债/权益比PVHSNOW
| Q4 25 | 0.46× | — | ||
| Q3 25 | 0.47× | — | ||
| Q2 25 | 0.48× | — | ||
| Q1 25 | — | — | ||
| 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 | $-44.5M | $137.5M |
| 自由现金流经营现金流 - 资本支出 | $-85.1M | $113.6M |
| 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 | 1.8% | 2.0% |
| 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 | — | $776.7M |
8季度趋势，按日历期对齐
经营现金流PVHSNOW
| Q4 25 | $-44.5M | $137.5M | ||
| Q3 25 | $213.1M | $74.9M | ||
| Q2 25 | $-71.4M | $228.4M | ||
| Q1 25 | — | $432.7M | ||
| Q4 24 | — | $101.7M | ||
| Q3 24 | — | $69.9M | ||
| Q2 24 | — | $355.5M | ||
| Q1 24 | — | $344.6M |
自由现金流PVHSNOW
| Q4 25 | $-85.1M | $113.6M | ||
| Q3 25 | $181.9M | $58.2M | ||
| Q2 25 | $-98.1M | $183.4M | ||
| Q1 25 | — | $421.4M | ||
| Q4 24 | — | $88.3M | ||
| Q3 24 | — | $64.8M | ||
| Q2 24 | — | $338.9M | ||
| Q1 24 | — | $331.5M |
自由现金流率PVHSNOW
| Q4 25 | -3.7% | 9.4% | ||
| Q3 25 | 8.4% | 5.1% | ||
| Q2 25 | -4.9% | 17.6% | ||
| Q1 25 | — | 42.7% | ||
| Q4 24 | — | 9.4% | ||
| Q3 24 | — | 7.5% | ||
| Q2 24 | — | 40.9% | ||
| Q1 24 | — | 42.8% |
资本支出强度PVHSNOW
| Q4 25 | 1.8% | 2.0% | ||
| Q3 25 | 1.4% | 1.5% | ||
| Q2 25 | 1.3% | 4.3% | ||
| Q1 25 | — | 1.1% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | — | 0.6% | ||
| Q2 24 | — | 2.0% | ||
| Q1 24 | — | 1.7% |
现金转化率PVHSNOW
| 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% |
SNOW
| Products | $1.2B | 96% |
| Professional Services And Other | $54.5M | 4% |
| Related Party | $6.7M | 1% |
