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RH（RH）与Veralto（VLTO）财务数据对比。点击上方公司名可切换其他公司
Veralto的季度营收约是RH的1.6倍（$1.4B vs $883.8M），Veralto净利率更高（17.0% vs 4.1%，领先12.9%），RH同比增速更快（8.9% vs 4.4%），Veralto自由现金流更多（$258.0M vs $83.0M），过去两年RH的营收复合增速更高（9.4% vs 5.8%）
RH是美国高端家居品牌，总部位于加利福尼亚州科尔特马德拉。品牌通过线下零售门店、产品目录和线上渠道发售家居商品，截至2018年8月，在美国和加拿大共运营70家展示馆、18家全系列设计展示馆、3家婴童家居展示馆，另有36家奥莱门店。
Veralto是总部位于美国马萨诸塞州沃尔瑟姆的科技企业，核心业务覆盖水分析、水处理、标识喷码、包装及色彩管理相关产品的研发与生产，面向全球多领域客户提供适配的技术产品及配套服务。
RH vs VLTO — 直观对比
营收规模更大
VLTO
是对方的1.6倍
$883.8M
营收增速更快
RH
高出4.5%
4.4%
净利率更高
VLTO
高出12.9%
4.1%
自由现金流更多
VLTO
多$175.0M
$83.0M
两年增速更快
RH
近两年复合增速
5.8%
损益表 — Q3 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $883.8M | $1.4B |
| 净利润 | $36.3M | $239.0M |
| 毛利率 | 44.1% | 60.1% |
| 营业利润率 | 12.0% | 23.2% |
| 净利率 | 4.1% | 17.0% |
| 营收同比 | 8.9% | 4.4% |
| 净利润同比 | 9.3% | 5.3% |
| 每股收益（稀释后） | $1.83 | $0.95 |
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RHVLTO
| Q4 25 | $883.8M | $1.4B | ||
| Q3 25 | $899.2M | $1.4B | ||
| Q2 25 | $814.0M | $1.3B | ||
| Q1 25 | $812.4M | — | ||
| Q4 24 | $811.7M | $1.3B | ||
| Q3 24 | $829.7M | $1.3B | ||
| Q2 24 | $727.0M | $1.3B | ||
| Q1 24 | $738.3M | $1.2B |
净利润RHVLTO
| Q4 25 | $36.3M | $239.0M | ||
| Q3 25 | $51.7M | $222.0M | ||
| Q2 25 | $8.0M | $225.0M | ||
| Q1 25 | $13.9M | — | ||
| Q4 24 | $33.2M | $227.0M | ||
| Q3 24 | $29.0M | $219.0M | ||
| Q2 24 | $-3.6M | $203.0M | ||
| Q1 24 | $11.4M | $184.0M |
毛利率RHVLTO
| Q4 25 | 44.1% | 60.1% | ||
| Q3 25 | 45.5% | 60.0% | ||
| Q2 25 | 43.7% | 60.4% | ||
| Q1 25 | 44.7% | — | ||
| Q4 24 | 44.5% | 59.6% | ||
| Q3 24 | 45.2% | 59.6% | ||
| Q2 24 | 43.5% | 60.1% | ||
| Q1 24 | 43.5% | 60.0% |
营业利润率RHVLTO
| Q4 25 | 12.0% | 23.2% | ||
| Q3 25 | 14.3% | 22.8% | ||
| Q2 25 | 6.9% | 24.2% | ||
| Q1 25 | 8.7% | — | ||
| Q4 24 | 12.5% | 22.9% | ||
| Q3 24 | 11.6% | 23.4% | ||
| Q2 24 | 7.5% | 23.2% | ||
| Q1 24 | 8.7% | 23.5% |
净利率RHVLTO
| Q4 25 | 4.1% | 17.0% | ||
| Q3 25 | 5.8% | 16.2% | ||
| Q2 25 | 1.0% | 16.9% | ||
| Q1 25 | 1.7% | — | ||
| Q4 24 | 4.1% | 16.9% | ||
| Q3 24 | 3.5% | 16.7% | ||
| Q2 24 | -0.5% | 15.8% | ||
| Q1 24 | 1.5% | 14.8% |
每股收益（稀释后）RHVLTO
| Q4 25 | $1.83 | $0.95 | ||
| Q3 25 | $2.62 | $0.89 | ||
| Q2 25 | $0.40 | $0.90 | ||
| Q1 25 | $0.71 | — | ||
| Q4 24 | $1.66 | $0.91 | ||
| Q3 24 | $1.45 | $0.88 | ||
| Q2 24 | $-0.20 | $0.81 | ||
| Q1 24 | $0.91 | $0.74 |
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 | $43.1M | $1.8B |
| 总债务越低越好 | — | $2.7B |
| 股东权益账面价值 | $3.3M | $2.8B |
| 总资产 | $4.8B | $7.4B |
| 负债/权益比越低杠杆越低 | — | 0.94× |
8季度趋势，按日历期对齐
现金及短期投资RHVLTO
| Q4 25 | $43.1M | $1.8B | ||
| Q3 25 | $34.6M | $1.6B | ||
| Q2 25 | $46.1M | $1.2B | ||
| Q1 25 | $30.4M | — | ||
| Q4 24 | $87.0M | $1.1B | ||
| Q3 24 | $78.3M | $1.3B | ||
| Q2 24 | $101.8M | $1.0B | ||
| Q1 24 | $123.7M | $827.0M |
总债务RHVLTO
| Q4 25 | — | $2.7B | ||
| Q3 25 | — | $2.7B | ||
| Q2 25 | — | $2.6B | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | — | $2.6B | ||
| Q2 24 | — | $2.6B | ||
| Q1 24 | — | $2.6B |
股东权益RHVLTO
| Q4 25 | $3.3M | $2.8B | ||
| Q3 25 | $-40.9M | $2.7B | ||
| Q2 25 | $-110.8M | $2.3B | ||
| Q1 25 | $-163.6M | — | ||
| Q4 24 | $-183.0M | $2.0B | ||
| Q3 24 | $-234.7M | $2.0B | ||
| Q2 24 | $-289.9M | $1.7B | ||
| Q1 24 | $-297.4M | $1.5B |
总资产RHVLTO
| Q4 25 | $4.8B | $7.4B | ||
| Q3 25 | $4.7B | $7.2B | ||
| Q2 25 | $4.7B | $6.6B | ||
| Q1 25 | $4.6B | — | ||
| Q4 24 | $4.5B | $6.4B | ||
| Q3 24 | $4.4B | $6.3B | ||
| Q2 24 | $4.2B | $5.9B | ||
| Q1 24 | $4.1B | $5.7B |
负债/权益比RHVLTO
| Q4 25 | — | 0.94× | ||
| Q3 25 | — | 1.01× | ||
| Q2 25 | — | 1.14× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.28× | ||
| Q3 24 | — | 1.35× | ||
| Q2 24 | — | 1.57× | ||
| Q1 24 | — | 1.77× |
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 | $131.9M | $270.0M |
| 自由现金流经营现金流 - 资本支出 | $83.0M | $258.0M |
| 自由现金流率自由现金流/营收 | 9.4% | 18.4% |
| 资本支出强度资本支出/营收 | 5.5% | 0.9% |
| 现金转化率经营现金流/净利润 | 3.64× | 1.13× |
| 过去12个月自由现金流最近4个季度 | $128.1M | $986.0M |
8季度趋势，按日历期对齐
经营现金流RHVLTO
| Q4 25 | $131.9M | $270.0M | ||
| Q3 25 | $137.7M | $339.0M | ||
| Q2 25 | $86.6M | $157.0M | ||
| Q1 25 | $-18.8M | — | ||
| Q4 24 | $-31.4M | $285.0M | ||
| Q3 24 | $11.2M | $224.0M | ||
| Q2 24 | $56.1M | $251.0M | ||
| Q1 24 | $-114.0M | $115.0M |
自由现金流RHVLTO
| Q4 25 | $83.0M | $258.0M | ||
| Q3 25 | $80.7M | $323.0M | ||
| Q2 25 | $34.1M | $142.0M | ||
| Q1 25 | $-69.7M | — | ||
| Q4 24 | $-96.0M | $263.0M | ||
| Q3 24 | $-37.9M | $215.0M | ||
| Q2 24 | $-10.1M | $240.0M | ||
| Q1 24 | $-251.5M | $102.0M |
自由现金流率RHVLTO
| Q4 25 | 9.4% | 18.4% | ||
| Q3 25 | 9.0% | 23.6% | ||
| Q2 25 | 4.2% | 10.7% | ||
| Q1 25 | -8.6% | — | ||
| Q4 24 | -11.8% | 19.6% | ||
| Q3 24 | -4.6% | 16.4% | ||
| Q2 24 | -1.4% | 18.6% | ||
| Q1 24 | -34.1% | 8.2% |
资本支出强度RHVLTO
| Q4 25 | 5.5% | 0.9% | ||
| Q3 25 | 6.3% | 1.2% | ||
| Q2 25 | 6.5% | 1.1% | ||
| Q1 25 | 6.3% | — | ||
| Q4 24 | 8.0% | 1.6% | ||
| Q3 24 | 5.9% | 0.7% | ||
| Q2 24 | 9.1% | 0.9% | ||
| Q1 24 | 18.6% | 1.0% |
现金转化率RHVLTO
| Q4 25 | 3.64× | 1.13× | ||
| Q3 25 | 2.66× | 1.53× | ||
| Q2 25 | 10.78× | 0.70× | ||
| Q1 25 | -1.35× | — | ||
| Q4 24 | -0.95× | 1.26× | ||
| Q3 24 | 0.39× | 1.02× | ||
| Q2 24 | — | 1.24× | ||
| Q1 24 | -10.01× | 0.63× |
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
RH
| RH Segment | $835.8M | 95% |
| Waterworks Segment | $48.0M | 5% |
| Gift Card And Merchandise Credit | $4.5M | 1% |
VLTO
| Product Quality And Innovation Segment | $548.0M | 39% |
| Revenuefrom Contractwith Customer Measurement Recurring | $521.0M | 37% |
| Revenuefrom Contractwith Customer Measurement Nonrecurring | $335.0M | 24% |
