vs
PVH CORP.（PVH）与标普全球（SPGI）财务数据对比。点击上方公司名可切换其他公司
标普全球的季度营收约是PVH CORP.的1.8倍（$4.2B vs $2.3B），标普全球净利率更高（36.1% vs 0.2%，领先35.9%），标普全球同比增速更快（10.0% vs 1.7%），标普全球自由现金流更多（$919.0M 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。
标普全球是总部位于美国纽约曼哈顿的上市企业，核心业务涵盖金融信息、数据分析、能源及大宗商品情报服务，旗下拥有标普全球评级、标普全球市场财智、标普全球能源、标普全球移动、印度信用评级机构CRISIL等业务板块，同时控股合资企业标普道琼斯指数。
PVH vs SPGI — 直观对比
营收规模更大
SPGI
是对方的1.8倍
$2.3B
营收增速更快
SPGI
高出8.3%
1.7%
净利率更高
SPGI
高出35.9%
0.2%
自由现金流更多
SPGI
多$1.0B
$-85.1M
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.3B | $4.2B |
| 净利润 | $4.2M | $1.5B |
| 毛利率 | 56.3% | — |
| 营业利润率 | 7.9% | 48.0% |
| 净利率 | 0.2% | 36.1% |
| 营收同比 | 1.7% | 10.0% |
| 净利润同比 | -96.8% | 28.0% |
| 每股收益（稀释后） | $0.09 | $4.69 |
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PVHSPGI
| Q1 26 | — | $4.2B | ||
| Q4 25 | $2.3B | $3.9B | ||
| Q3 25 | $2.2B | $3.9B | ||
| Q2 25 | $2.0B | $3.8B | ||
| Q1 25 | — | $3.8B | ||
| Q4 24 | — | $3.6B | ||
| Q3 24 | — | $3.6B | ||
| Q2 24 | — | $3.5B |
净利润PVHSPGI
| Q1 26 | — | $1.5B | ||
| Q4 25 | $4.2M | $1.1B | ||
| Q3 25 | $224.2M | $1.2B | ||
| Q2 25 | $-44.8M | $1.1B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | — | $879.0M | ||
| Q3 24 | — | $971.0M | ||
| Q2 24 | — | $1.0B |
毛利率PVHSPGI
| Q1 26 | — | — | ||
| Q4 25 | 56.3% | 70.1% | ||
| Q3 25 | 57.7% | 71.2% | ||
| Q2 25 | 58.6% | 70.2% | ||
| Q1 25 | — | 69.5% | ||
| Q4 24 | — | 69.8% | ||
| Q3 24 | — | 70.0% | ||
| Q2 24 | — | 69.4% |
营业利润率PVHSPGI
| Q1 26 | — | 48.0% | ||
| Q4 25 | 7.9% | 42.7% | ||
| Q3 25 | 6.1% | 43.1% | ||
| Q2 25 | -16.7% | 41.3% | ||
| Q1 25 | — | 41.8% | ||
| Q4 24 | — | 36.4% | ||
| Q3 24 | — | 40.1% | ||
| Q2 24 | — | 40.9% |
净利率PVHSPGI
| Q1 26 | — | 36.1% | ||
| Q4 25 | 0.2% | 28.9% | ||
| Q3 25 | 10.3% | 30.2% | ||
| Q2 25 | -2.3% | 28.5% | ||
| Q1 25 | — | 28.9% | ||
| Q4 24 | — | 24.5% | ||
| Q3 24 | — | 27.2% | ||
| Q2 24 | — | 28.5% |
每股收益（稀释后）PVHSPGI
| Q1 26 | — | $4.69 | ||
| Q4 25 | $0.09 | $3.76 | ||
| Q3 25 | $4.63 | $3.86 | ||
| Q2 25 | $-0.88 | $3.50 | ||
| Q1 25 | — | $3.54 | ||
| Q4 24 | — | $2.85 | ||
| Q3 24 | — | $3.11 | ||
| Q2 24 | — | $3.23 |
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 | — |
| 总债务越低越好 | $2.3B | $13.3B |
| 股东权益账面价值 | $4.9B | $31.3B |
| 总资产 | $11.4B | $60.8B |
| 负债/权益比越低杠杆越低 | 0.46× | 0.43× |
8季度趋势，按日历期对齐
现金及短期投资PVHSPGI
| Q1 26 | — | — | ||
| Q4 25 | $158.2M | $1.8B | ||
| Q3 25 | $248.8M | $1.7B | ||
| Q2 25 | $191.0M | $1.8B | ||
| Q1 25 | — | $1.5B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $2.0B |
总债务PVHSPGI
| Q1 26 | — | $13.3B | ||
| Q4 25 | $2.3B | $13.1B | ||
| Q3 25 | $2.3B | $11.4B | ||
| Q2 25 | $2.2B | $11.4B | ||
| Q1 25 | — | $11.4B | ||
| Q4 24 | — | $11.4B | ||
| Q3 24 | — | $11.4B | ||
| Q2 24 | — | $11.4B |
股东权益PVHSPGI
| Q1 26 | — | $31.3B | ||
| Q4 25 | $4.9B | $31.1B | ||
| Q3 25 | $4.9B | $33.1B | ||
| Q2 25 | $4.6B | $33.4B | ||
| Q1 25 | — | $33.4B | ||
| Q4 24 | — | $33.2B | ||
| Q3 24 | — | $34.0B | ||
| Q2 24 | — | $34.9B |
总资产PVHSPGI
| Q1 26 | — | $60.8B | ||
| Q4 25 | $11.4B | $61.2B | ||
| Q3 25 | $11.6B | $59.7B | ||
| Q2 25 | $10.7B | $60.4B | ||
| Q1 25 | — | $59.9B | ||
| Q4 24 | — | $60.2B | ||
| Q3 24 | — | $60.4B | ||
| Q2 24 | — | $61.0B |
负债/权益比PVHSPGI
| Q1 26 | — | 0.43× | ||
| Q4 25 | 0.46× | 0.42× | ||
| Q3 25 | 0.47× | 0.34× | ||
| Q2 25 | 0.48× | 0.34× | ||
| Q1 25 | — | 0.34× | ||
| Q4 24 | — | 0.34× | ||
| Q3 24 | — | 0.34× | ||
| Q2 24 | — | 0.33× |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $-85.1M | $919.0M |
| 自由现金流率自由现金流/营收 | -3.7% | 22.0% |
| 资本支出强度资本支出/营收 | 1.8% | 0.6% |
| 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 | — | $5.5B |
8季度趋势，按日历期对齐
经营现金流PVHSPGI
| Q1 26 | — | — | ||
| Q4 25 | $-44.5M | $1.7B | ||
| Q3 25 | $213.1M | $1.5B | ||
| Q2 25 | $-71.4M | $1.4B | ||
| Q1 25 | — | $953.0M | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | $1.6B |
自由现金流PVHSPGI
| Q1 26 | — | $919.0M | ||
| Q4 25 | $-85.1M | $1.7B | ||
| Q3 25 | $181.9M | $1.5B | ||
| Q2 25 | $-98.1M | $1.4B | ||
| Q1 25 | — | $910.0M | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | $1.5B |
自由现金流率PVHSPGI
| Q1 26 | — | 22.0% | ||
| Q4 25 | -3.7% | 43.5% | ||
| Q3 25 | 8.4% | 37.6% | ||
| Q2 25 | -4.9% | 36.9% | ||
| Q1 25 | — | 24.1% | ||
| Q4 24 | — | 47.5% | ||
| Q3 24 | — | 39.4% | ||
| Q2 24 | — | 42.9% |
资本支出强度PVHSPGI
| Q1 26 | — | 0.6% | ||
| Q4 25 | 1.8% | 1.2% | ||
| Q3 25 | 1.4% | 1.2% | ||
| Q2 25 | 1.3% | 1.6% | ||
| Q1 25 | — | 1.1% | ||
| Q4 24 | — | 0.9% | ||
| Q3 24 | — | 1.0% | ||
| Q2 24 | — | 0.9% |
现金转化率PVHSPGI
| Q1 26 | — | — | ||
| Q4 25 | -10.60× | 1.54× | ||
| Q3 25 | 0.95× | 1.28× | ||
| Q2 25 | — | 1.35× | ||
| Q1 25 | — | 0.87× | ||
| Q4 24 | — | 1.98× | ||
| Q3 24 | — | 1.49× | ||
| Q2 24 | — | 1.54× |
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% |
SPGI
| Ratings | $1.3B | 31% |
| Market Intelligence | $1.3B | 31% |
| Energy | $652.0M | 16% |
| Indices | $519.0M | 12% |
| Mobility | $454.0M | 11% |
