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PVH CORP.（PVH）与WHITE MOUNTAINS INSURANCE GROUP LTD（WTM）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WHITE MOUNTAINS INSURANCE GROUP LTD的1.4倍（$2.3B vs $1.6B），WHITE MOUNTAINS INSURANCE GROUP LTD净利率更高（52.1% vs 0.2%，领先51.9%），WHITE MOUNTAINS INSURANCE GROUP LTD同比增速更快（348.0% vs 1.7%）
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。
怀特山保险集团是一家多元化保险及相关金融服务控股企业，总部位于百慕大汉密尔顿，1999年10月25日从美国特拉华州迁册至当前注册地，大部分业务通过旗下保险子公司及其他关联机构开展，覆盖多个保险及金融服务细分赛道。
PVH vs WTM — 直观对比
营收规模更大
PVH
是对方的1.4倍
$1.6B
营收增速更快
WTM
高出346.3%
1.7%
净利率更高
WTM
高出51.9%
0.2%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.3B | $1.6B |
| 净利润 | $4.2M | $835.8M |
| 毛利率 | 56.3% | 97.1% |
| 营业利润率 | 7.9% | 56.2% |
| 净利率 | 0.2% | 52.1% |
| 营收同比 | 1.7% | 348.0% |
| 净利润同比 | -96.8% | 741.0% |
| 每股收益（稀释后） | $0.09 | $325.02 |
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PVHWTM
| Q4 25 | $2.3B | $1.6B | ||
| Q3 25 | $2.2B | $864.2M | ||
| Q2 25 | $2.0B | $689.2M | ||
| Q1 25 | — | $577.8M | ||
| Q4 24 | — | $358.0M | ||
| Q3 24 | — | $839.1M | ||
| Q2 24 | — | $395.4M | ||
| Q1 24 | — | $647.3M |
净利润PVHWTM
| Q4 25 | $4.2M | $835.8M | ||
| Q3 25 | $224.2M | $113.8M | ||
| Q2 25 | $-44.8M | $122.9M | ||
| Q1 25 | — | $33.9M | ||
| Q4 24 | — | $-130.4M | ||
| Q3 24 | — | $179.0M | ||
| Q2 24 | — | $-54.6M | ||
| Q1 24 | — | $236.4M |
毛利率PVHWTM
| Q4 25 | 56.3% | 97.1% | ||
| Q3 25 | 57.7% | 93.6% | ||
| Q2 25 | 58.6% | 93.8% | ||
| Q1 25 | — | 98.7% | ||
| Q4 24 | — | 97.9% | ||
| Q3 24 | — | 99.1% | ||
| Q2 24 | — | 98.2% | ||
| Q1 24 | — | 98.8% |
营业利润率PVHWTM
| Q4 25 | 7.9% | 56.2% | ||
| Q3 25 | 6.1% | 20.7% | ||
| Q2 25 | -16.7% | 25.6% | ||
| Q1 25 | — | 12.5% | ||
| Q4 24 | — | -33.7% | ||
| Q3 24 | — | 28.5% | ||
| Q2 24 | — | -8.8% | ||
| Q1 24 | — | 35.9% |
净利率PVHWTM
| Q4 25 | 0.2% | 52.1% | ||
| Q3 25 | 10.3% | 13.2% | ||
| Q2 25 | -2.3% | 17.8% | ||
| Q1 25 | — | 5.9% | ||
| Q4 24 | — | -36.4% | ||
| Q3 24 | — | 21.3% | ||
| Q2 24 | — | -13.8% | ||
| Q1 24 | — | 36.5% |
每股收益（稀释后）PVHWTM
| Q4 25 | $0.09 | $325.02 | ||
| Q3 25 | $4.63 | $44.18 | ||
| Q2 25 | $-0.88 | $47.75 | ||
| Q1 25 | — | $13.19 | ||
| Q4 24 | — | $-50.98 | ||
| Q3 24 | — | $69.68 | ||
| Q2 24 | — | $-21.24 | ||
| Q1 24 | — | $92.33 |
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 | $837.0M |
| 股东权益账面价值 | $4.9B | $5.4B |
| 总资产 | $11.4B | $12.3B |
| 负债/权益比越低杠杆越低 | 0.46× | 0.15× |
8季度趋势，按日历期对齐
现金及短期投资PVHWTM
| Q4 25 | $158.2M | — | ||
| Q3 25 | $248.8M | — | ||
| Q2 25 | $191.0M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
总债务PVHWTM
| Q4 25 | $2.3B | $837.0M | ||
| Q3 25 | $2.3B | $870.4M | ||
| Q2 25 | $2.2B | $694.6M | ||
| Q1 25 | — | $676.1M | ||
| Q4 24 | — | $562.5M | ||
| Q3 24 | — | $544.9M | ||
| Q2 24 | — | $530.2M | ||
| Q1 24 | — | $532.1M |
股东权益PVHWTM
| Q4 25 | $4.9B | $5.4B | ||
| Q3 25 | $4.9B | $4.8B | ||
| Q2 25 | $4.6B | $4.6B | ||
| Q1 25 | — | $4.5B | ||
| Q4 24 | — | $4.5B | ||
| Q3 24 | — | $4.6B | ||
| Q2 24 | — | $4.4B | ||
| Q1 24 | — | $4.5B |
总资产PVHWTM
| Q4 25 | $11.4B | $12.3B | ||
| Q3 25 | $11.6B | $12.3B | ||
| Q2 25 | $10.7B | $11.8B | ||
| Q1 25 | — | $11.0B | ||
| Q4 24 | — | $9.9B | ||
| Q3 24 | — | $10.3B | ||
| Q2 24 | — | $10.2B | ||
| Q1 24 | — | $9.6B |
负债/权益比PVHWTM
| Q4 25 | 0.46× | 0.15× | ||
| Q3 25 | 0.47× | 0.18× | ||
| Q2 25 | 0.48× | 0.15× | ||
| Q1 25 | — | 0.15× | ||
| Q4 24 | — | 0.13× | ||
| Q3 24 | — | 0.12× | ||
| Q2 24 | — | 0.12× | ||
| Q1 24 | — | 0.12× |
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 | $53.9M |
| 自由现金流经营现金流 - 资本支出 | $-85.1M | — |
| 自由现金流率自由现金流/营收 | -3.7% | — |
| 资本支出强度资本支出/营收 | 1.8% | — |
| 现金转化率经营现金流/净利润 | -10.60× | 0.06× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流PVHWTM
| Q4 25 | $-44.5M | $53.9M | ||
| Q3 25 | $213.1M | $359.3M | ||
| Q2 25 | $-71.4M | $177.5M | ||
| Q1 25 | — | $-40.2M | ||
| Q4 24 | — | $64.1M | ||
| Q3 24 | — | $269.4M | ||
| Q2 24 | — | $216.8M | ||
| Q1 24 | — | $36.5M |
自由现金流PVHWTM
| Q4 25 | $-85.1M | — | ||
| Q3 25 | $181.9M | — | ||
| Q2 25 | $-98.1M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
自由现金流率PVHWTM
| Q4 25 | -3.7% | — | ||
| Q3 25 | 8.4% | — | ||
| Q2 25 | -4.9% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
资本支出强度PVHWTM
| Q4 25 | 1.8% | — | ||
| Q3 25 | 1.4% | — | ||
| Q2 25 | 1.3% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
现金转化率PVHWTM
| Q4 25 | -10.60× | 0.06× | ||
| Q3 25 | 0.95× | 3.16× | ||
| Q2 25 | — | 1.44× | ||
| Q1 25 | — | -1.19× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.51× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.15× |
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% |
WTM
暂无分部数据
