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利氏兄弟拍卖行（RBA）与J.M. Smucker Company (The)（SJM）财务数据对比。点击上方公司名可切换其他公司
J.M. Smucker Company (The)的季度营收约是利氏兄弟拍卖行的1.9倍（$2.3B vs $1.2B），J.M. Smucker Company (The)净利率更高（10.4% vs 9.1%，领先1.2%），利氏兄弟拍卖行同比增速更快（5.4% vs 2.6%），J.M. Smucker Company (The)自由现金流更多（$280.2M vs $186.5M），过去两年利氏兄弟拍卖行的营收复合增速更高（6.3% vs 2.2%）
利氏兄弟拍卖行（股票代码RBA）是全球知名的工业资产拍卖服务商，注册地位于加拿大，属公开上市企业，总部设在美国伊利诺伊州韦斯特切斯特，普通股同时在多伦多证券交易所与纽约证券交易所挂牌交易。
J.M.斯马克公司是美国食品饮料生产企业，总部位于俄亥俄州奥维尔，1897年成立之初主营苹果酱生产，目前旗下设消费食品、宠物食品、咖啡三大业务板块，核心品牌Smucker's主打果酱、花生酱、糖浆、无皮冷冻三明治、冰淇淋顶料等产品。
RBA vs SJM — 直观对比
营收规模更大
SJM
是对方的1.9倍
$1.2B
营收增速更快
RBA
高出2.8%
2.6%
净利率更高
SJM
高出1.2%
9.1%
自由现金流更多
SJM
多$93.7M
$186.5M
两年增速更快
RBA
近两年复合增速
2.2%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $2.3B |
| 净利润 | $109.7M | $241.3M |
| 毛利率 | — | 37.3% |
| 营业利润率 | 14.7% | 18.0% |
| 净利率 | 9.1% | 10.4% |
| 营收同比 | 5.4% | 2.6% |
| 净利润同比 | -7.4% | 1084.9% |
| 每股收益（稀释后） | $0.53 | $2.26 |
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RBASJM
| Q4 25 | $1.2B | $2.3B | ||
| Q3 25 | $1.1B | $2.1B | ||
| Q2 25 | $1.2B | $2.1B | ||
| Q1 25 | $1.1B | $2.2B | ||
| Q4 24 | $1.1B | $2.3B | ||
| Q3 24 | $981.8M | $2.1B | ||
| Q2 24 | $1.1B | $2.2B | ||
| Q1 24 | $1.1B | $2.2B |
净利润RBASJM
| Q4 25 | $109.7M | $241.3M | ||
| Q3 25 | $95.5M | $-43.9M | ||
| Q2 25 | $109.8M | $-729.0M | ||
| Q1 25 | $113.4M | $-662.3M | ||
| Q4 24 | $118.5M | $-24.5M | ||
| Q3 24 | $76.1M | $185.0M | ||
| Q2 24 | $111.1M | $245.1M | ||
| Q1 24 | $107.4M | $120.4M |
毛利率RBASJM
| Q4 25 | — | 37.3% | ||
| Q3 25 | — | 22.5% | ||
| Q2 25 | — | 38.4% | ||
| Q1 25 | — | 40.2% | ||
| Q4 24 | — | 39.0% | ||
| Q3 24 | — | 37.5% | ||
| Q2 24 | — | 41.4% | ||
| Q1 24 | — | 36.9% |
营业利润率RBASJM
| Q4 25 | 14.7% | 18.0% | ||
| Q3 25 | 14.5% | 2.2% | ||
| Q2 25 | 15.9% | -27.9% | ||
| Q1 25 | 17.1% | -27.2% | ||
| Q4 24 | 18.1% | 7.5% | ||
| Q3 24 | 15.6% | 16.4% | ||
| Q2 24 | 18.4% | 18.4% | ||
| Q1 24 | 18.7% | 13.3% |
净利率RBASJM
| Q4 25 | 9.1% | 10.4% | ||
| Q3 25 | 8.7% | -2.1% | ||
| Q2 25 | 9.3% | -34.0% | ||
| Q1 25 | 10.2% | -30.3% | ||
| Q4 24 | 10.4% | -1.1% | ||
| Q3 24 | 7.8% | 8.7% | ||
| Q2 24 | 10.1% | 11.1% | ||
| Q1 24 | 10.1% | 5.4% |
每股收益（稀释后）RBASJM
| Q4 25 | $0.53 | $2.26 | ||
| Q3 25 | $0.43 | $-0.41 | ||
| Q2 25 | $0.53 | $-6.86 | ||
| Q1 25 | $0.55 | $-6.22 | ||
| Q4 24 | $0.58 | $-0.23 | ||
| Q3 24 | $0.36 | $1.74 | ||
| Q2 24 | $0.54 | $2.31 | ||
| Q1 24 | $0.53 | $1.13 |
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 | $531.5M | — |
| 总债务越低越好 | $2.3B | $7.0B |
| 股东权益账面价值 | $5.6B | $6.1B |
| 总资产 | $12.1B | $17.6B |
| 负债/权益比越低杠杆越低 | 0.42× | 1.16× |
8季度趋势，按日历期对齐
现金及短期投资RBASJM
| Q4 25 | $531.5M | — | ||
| Q3 25 | $674.7M | — | ||
| Q2 25 | $710.2M | — | ||
| Q1 25 | $578.1M | — | ||
| Q4 24 | $533.9M | — | ||
| Q3 24 | $650.7M | — | ||
| Q2 24 | $599.5M | — | ||
| Q1 24 | $462.8M | — |
总债务RBASJM
| Q4 25 | $2.3B | $7.0B | ||
| Q3 25 | $2.6B | $7.0B | ||
| Q2 25 | $2.6B | $7.0B | ||
| Q1 25 | $2.6B | $7.4B | ||
| Q4 24 | $2.6B | $7.8B | ||
| Q3 24 | $2.7B | $7.8B | ||
| Q2 24 | $2.8B | $7.8B | ||
| Q1 24 | $2.9B | $8.1B |
股东权益RBASJM
| Q4 25 | $5.6B | $6.1B | ||
| Q3 25 | $5.5B | $5.9B | ||
| Q2 25 | $5.5B | $6.1B | ||
| Q1 25 | $5.3B | $6.9B | ||
| Q4 24 | $5.2B | $7.6B | ||
| Q3 24 | $5.2B | $7.8B | ||
| Q2 24 | $5.2B | $7.7B | ||
| Q1 24 | $5.1B | $7.6B |
总资产RBASJM
| Q4 25 | $12.1B | $17.6B | ||
| Q3 25 | $12.2B | $17.7B | ||
| Q2 25 | $12.2B | $17.6B | ||
| Q1 25 | $11.9B | $18.4B | ||
| Q4 24 | $11.8B | $20.0B | ||
| Q3 24 | $11.9B | $20.3B | ||
| Q2 24 | $12.1B | $20.3B | ||
| Q1 24 | $12.0B | $20.2B |
负债/权益比RBASJM
| Q4 25 | 0.42× | 1.16× | ||
| Q3 25 | 0.47× | 1.19× | ||
| Q2 25 | 0.47× | 1.16× | ||
| Q1 25 | 0.50× | 1.07× | ||
| Q4 24 | 0.50× | 1.02× | ||
| Q3 24 | 0.52× | 1.00× | ||
| Q2 24 | 0.55× | 1.01× | ||
| Q1 24 | 0.58× | 1.07× |
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 | $255.2M | $346.5M |
| 自由现金流经营现金流 - 资本支出 | $186.5M | $280.2M |
| 自由现金流率自由现金流/营收 | 15.5% | 12.0% |
| 资本支出强度资本支出/营收 | 5.7% | 2.8% |
| 现金转化率经营现金流/净利润 | 2.33× | 1.44× |
| 过去12个月自由现金流最近4个季度 | $719.2M | $635.5M |
8季度趋势，按日历期对齐
经营现金流RBASJM
| Q4 25 | $255.2M | $346.5M | ||
| Q3 25 | $239.7M | $-10.6M | ||
| Q2 25 | $326.5M | $393.9M | ||
| Q1 25 | $156.8M | $239.4M | ||
| Q4 24 | $184.5M | $404.2M | ||
| Q3 24 | $285.4M | $172.9M | ||
| Q2 24 | $337.3M | $428.1M | ||
| Q1 24 | $124.8M | $406.5M |
自由现金流RBASJM
| Q4 25 | $186.5M | $280.2M | ||
| Q3 25 | $188.5M | $-94.9M | ||
| Q2 25 | $241.7M | $298.9M | ||
| Q1 25 | $102.5M | $151.3M | ||
| Q4 24 | $127.9M | $317.2M | ||
| Q3 24 | $248.5M | $49.2M | ||
| Q2 24 | $308.6M | $297.5M | ||
| Q1 24 | $79.6M | $249.6M |
自由现金流率RBASJM
| Q4 25 | 15.5% | 12.0% | ||
| Q3 25 | 17.3% | -4.5% | ||
| Q2 25 | 20.4% | 13.9% | ||
| Q1 25 | 9.2% | 6.9% | ||
| Q4 24 | 11.2% | 14.0% | ||
| Q3 24 | 25.3% | 2.3% | ||
| Q2 24 | 28.2% | 13.5% | ||
| Q1 24 | 7.5% | 11.2% |
资本支出强度RBASJM
| Q4 25 | 5.7% | 2.8% | ||
| Q3 25 | 4.7% | 4.0% | ||
| Q2 25 | 7.2% | 4.4% | ||
| Q1 25 | 4.9% | 4.0% | ||
| Q4 24 | 5.0% | 3.8% | ||
| Q3 24 | 3.8% | 5.8% | ||
| Q2 24 | 2.6% | 5.9% | ||
| Q1 24 | 4.2% | 7.0% |
现金转化率RBASJM
| Q4 25 | 2.33× | 1.44× | ||
| Q3 25 | 2.51× | — | ||
| Q2 25 | 2.97× | — | ||
| Q1 25 | 1.38× | — | ||
| Q4 24 | 1.56× | — | ||
| Q3 24 | 3.75× | 0.93× | ||
| Q2 24 | 3.04× | 1.75× | ||
| Q1 24 | 1.16× | 3.38× |
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
RBA
| Buyer Revenue | $577.2M | 48% |
| Seller Revenue | $255.2M | 21% |
| CA | $199.0M | 17% |
| Other | $124.7M | 10% |
| AU | $47.3M | 4% |
SJM
| U.S.Retail Frozen Handheld And Spreads | $461.1M | 20% |
| U.S.Retail Pet Foods | $413.2M | 18% |
| Handheld Frozen Sandwiches | $262.9M | 11% |
| Sweet Baked Snacks | $256.1M | 11% |
| Pet Snacks | $232.0M | 10% |
| Cat Food | $197.2M | 8% |
| Peanut Butter | $187.1M | 8% |
| CA | $94.5M | 4% |
| Fruit Spreads | $92.2M | 4% |
| Other | $50.5M | 2% |
| Portion Control | $50.1M | 2% |
| All Other International | $33.2M | 1% |
