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PVH CORP.（PVH）与威富集团（VFC）财务数据对比。点击上方公司名可切换其他公司
威富集团的季度营收约是PVH CORP.的1.3倍（$2.9B vs $2.3B）。威富集团净利率更高（10.5% vs 0.2%，领先10.3%）。PVH CORP.同比增速更快（1.7% vs 1.5%）。威富集团自由现金流更多（$977.9M 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。
威富集团前身为F.W.伍尔沃斯公司，是全球知名零售企业，也是五分一角平价商店业态的先驱之一。作为美国乃至全球最成功的平价零售企业之一，它曾引领行业发展潮流，构建了如今全球各地门店普遍遵循的现代零售模式。
PVH vs VFC — 直观对比
营收规模更大
VFC
是对方的1.3倍
$2.3B
营收增速更快
PVH
高出0.3%
1.5%
净利率更高
VFC
高出10.3%
0.2%
自由现金流更多
VFC
多$1.1B
$-85.1M
损益表 — Q3 2026 vs Q3 2026
| 指标 | | |
|---|---|---|
| 营收 | $2.3B | $2.9B |
| 净利润 | $4.2M | $300.8M |
| 毛利率 | 56.3% | 56.6% |
| 营业利润率 | 7.9% | 10.1% |
| 净利率 | 0.2% | 10.5% |
| 营收同比 | 1.7% | 1.5% |
| 净利润同比 | -96.8% | 79.3% |
| 每股收益（稀释后） | $0.09 | $0.76 |
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PVHVFC
| Q4 25 | $2.3B | $2.9B | ||
| Q3 25 | $2.2B | $2.8B | ||
| Q2 25 | $2.0B | $1.8B | ||
| Q1 25 | — | $2.0B | ||
| Q4 24 | — | $2.8B | ||
| Q3 24 | — | $2.8B | ||
| Q2 24 | — | $1.9B | ||
| Q1 24 | — | $2.4B |
净利润PVHVFC
| Q4 25 | $4.2M | $300.8M | ||
| Q3 25 | $224.2M | $189.8M | ||
| Q2 25 | $-44.8M | $-116.4M | ||
| Q1 25 | — | $-150.8M | ||
| Q4 24 | — | $167.8M | ||
| Q3 24 | — | $52.2M | ||
| Q2 24 | — | $-258.9M | ||
| Q1 24 | — | $-418.3M |
毛利率PVHVFC
| Q4 25 | 56.3% | 56.6% | ||
| Q3 25 | 57.7% | 52.2% | ||
| Q2 25 | 58.6% | 53.9% | ||
| Q1 25 | — | 52.7% | ||
| Q4 24 | — | 56.3% | ||
| Q3 24 | — | 52.2% | ||
| Q2 24 | — | 52.0% | ||
| Q1 24 | — | 48.4% |
营业利润率PVHVFC
| Q4 25 | 7.9% | 10.1% | ||
| Q3 25 | 6.1% | 11.2% | ||
| Q2 25 | -16.7% | -4.9% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | — | 8.0% | ||
| Q3 24 | — | 9.9% | ||
| Q2 24 | — | -12.6% | ||
| Q1 24 | — | -15.0% |
净利率PVHVFC
| Q4 25 | 0.2% | 10.5% | ||
| Q3 25 | 10.3% | 6.8% | ||
| Q2 25 | -2.3% | -6.6% | ||
| Q1 25 | — | -7.5% | ||
| Q4 24 | — | 5.9% | ||
| Q3 24 | — | 1.9% | ||
| Q2 24 | — | -13.6% | ||
| Q1 24 | — | -17.6% |
每股收益（稀释后）PVHVFC
| Q4 25 | $0.09 | $0.76 | ||
| Q3 25 | $4.63 | $0.48 | ||
| Q2 25 | $-0.88 | $-0.30 | ||
| Q1 25 | — | $-0.37 | ||
| Q4 24 | — | $0.43 | ||
| Q3 24 | — | $0.13 | ||
| Q2 24 | — | $-0.67 | ||
| Q1 24 | — | $-1.07 |
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 | $1.5B |
| 总债务越低越好 | $2.3B | $3.6B |
| 股东权益账面价值 | $4.9B | $1.8B |
| 总资产 | $11.4B | $10.4B |
| 负债/权益比越低杠杆越低 | 0.46× | 1.99× |
8季度趋势，按日历期对齐
现金及短期投资PVHVFC
| Q4 25 | $158.2M | $1.5B | ||
| Q3 25 | $248.8M | $419.1M | ||
| Q2 25 | $191.0M | $642.4M | ||
| Q1 25 | — | $429.4M | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | — | $492.2M | ||
| Q2 24 | — | $637.4M | ||
| Q1 24 | — | $674.6M |
总债务PVHVFC
| Q4 25 | $2.3B | $3.6B | ||
| Q3 25 | $2.3B | $3.5B | ||
| Q2 25 | $2.2B | $3.6B | ||
| Q1 25 | — | $3.4B | ||
| Q4 24 | — | $3.9B | ||
| Q3 24 | — | $4.0B | ||
| Q2 24 | — | $3.9B | ||
| Q1 24 | — | $4.7B |
股东权益PVHVFC
| Q4 25 | $4.9B | $1.8B | ||
| Q3 25 | $4.9B | $1.5B | ||
| Q2 25 | $4.6B | $1.3B | ||
| Q1 25 | — | $1.5B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | $1.4B | ||
| Q1 24 | — | $1.7B |
总资产PVHVFC
| Q4 25 | $11.4B | $10.4B | ||
| Q3 25 | $11.6B | $10.6B | ||
| Q2 25 | $10.7B | $10.2B | ||
| Q1 25 | — | $9.4B | ||
| Q4 24 | — | $10.6B | ||
| Q3 24 | — | $12.2B | ||
| Q2 24 | — | $11.5B | ||
| Q1 24 | — | $11.6B |
负债/权益比PVHVFC
| Q4 25 | 0.46× | 1.99× | ||
| Q3 25 | 0.47× | 2.40× | ||
| Q2 25 | 0.48× | 2.76× | ||
| Q1 25 | — | 2.30× | ||
| Q4 24 | — | 2.31× | ||
| Q3 24 | — | 2.86× | ||
| Q2 24 | — | 2.84× | ||
| Q1 24 | — | 2.84× |
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 | $1.0B |
| 自由现金流经营现金流 - 资本支出 | $-85.1M | $977.9M |
| 自由现金流率自由现金流/营收 | -3.7% | 34.0% |
| 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× | 3.36× |
| 过去12个月自由现金流最近4个季度 | — | $357.6M |
8季度趋势，按日历期对齐
经营现金流PVHVFC
| Q4 25 | $-44.5M | $1.0B | ||
| Q3 25 | $213.1M | $-227.0M | ||
| Q2 25 | $-71.4M | $-145.5M | ||
| Q1 25 | — | $-171.1M | ||
| Q4 24 | — | $918.1M | ||
| Q3 24 | — | $-301.6M | ||
| Q2 24 | — | $19.8M | ||
| Q1 24 | — | — |
自由现金流PVHVFC
| Q4 25 | $-85.1M | $977.9M | ||
| Q3 25 | $181.9M | $-253.5M | ||
| Q2 25 | $-98.1M | $-173.7M | ||
| Q1 25 | — | $-193.0M | ||
| Q4 24 | — | $899.7M | ||
| Q3 24 | — | $-322.4M | ||
| Q2 24 | — | $-5.4M | ||
| Q1 24 | — | — |
自由现金流率PVHVFC
| Q4 25 | -3.7% | 34.0% | ||
| Q3 25 | 8.4% | -9.0% | ||
| Q2 25 | -4.9% | -9.9% | ||
| Q1 25 | — | -9.6% | ||
| Q4 24 | — | 31.7% | ||
| Q3 24 | — | -11.7% | ||
| Q2 24 | — | -0.3% | ||
| Q1 24 | — | — |
资本支出强度PVHVFC
| Q4 25 | 1.8% | 1.1% | ||
| Q3 25 | 1.4% | 0.9% | ||
| Q2 25 | 1.3% | 1.6% | ||
| Q1 25 | — | 1.1% | ||
| Q4 24 | — | 0.6% | ||
| Q3 24 | — | 0.8% | ||
| Q2 24 | — | 1.3% | ||
| Q1 24 | — | — |
现金转化率PVHVFC
| Q4 25 | -10.60× | 3.36× | ||
| Q3 25 | 0.95× | -1.20× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 5.47× | ||
| Q3 24 | — | -5.78× | ||
| 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% |
VFC
| Outdoor | $1.9B | 67% |
| Sales Channel Through Intermediary | $813.4M | 28% |
| Other | $136.3M | 5% |
