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RAYONIER ADVANCED MATERIALS INC.（RYAM）与VinFast Auto Ltd.（VFS）财务数据对比。点击上方公司名可切换其他公司
VinFast Auto Ltd.的季度营收约是RAYONIER ADVANCED MATERIALS INC.的1.7倍（$718.6M vs $417.5M），VinFast Auto Ltd.净利率更高（-2.8% vs -5.0%，领先2.3%）
RYAM（原雷尼尔先进材料公司）是一家美国全球性纤维素技术企业，主打高纯度特种纤维素产品，所生产的天然聚合物广泛应用于过滤器生产、食品加工、医药制造及各类工业领域，同时也为造纸和包装行业供应相关产品，在纤维素技术领域拥有较高的行业认可度。
VinFast Auto Ltd.是越南跨国汽车企业，由越南最大私营综合企业集团之一Vingroup创立。Vingroup由越南知名企业家潘日旺创办，业务覆盖地产、零售、医疗、科技等多个领域，是越南本土头部企业集团。
RYAM vs VFS — 直观对比
营收规模更大
VFS
是对方的1.7倍
$417.5M
净利率更高
VFS
高出2.3%
-5.0%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $417.5M | $718.6M |
| 净利润 | $-21.1M | $-20.0M |
| 毛利率 | 8.9% | — |
| 营业利润率 | 2.6% | -96.1% |
| 净利率 | -5.0% | -2.8% |
| 营收同比 | -1.2% | — |
| 净利润同比 | -31.9% | — |
| 每股收益（稀释后） | $-0.33 | — |
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RYAMVFS
| Q4 25 | $417.5M | — | ||
| Q3 25 | $352.8M | $718.6M | ||
| Q2 25 | $340.0M | $663.0M | ||
| Q1 25 | $356.0M | $656.5M | ||
| Q4 24 | $422.5M | — | ||
| Q3 24 | $401.1M | $511.6M | ||
| Q2 24 | $419.0M | — | ||
| Q1 24 | $387.7M | $302.6M |
净利润RYAMVFS
| Q4 25 | $-21.1M | — | ||
| Q3 25 | $-4.5M | $-20.0M | ||
| Q2 25 | $-363.2M | $-51.8M | ||
| Q1 25 | $-32.0M | $-26.1M | ||
| Q4 24 | $-16.0M | — | ||
| Q3 24 | $-32.6M | $-10.4M | ||
| Q2 24 | $11.4M | — | ||
| Q1 24 | $-1.6M | $-618.3M |
毛利率RYAMVFS
| Q4 25 | 8.9% | — | ||
| Q3 25 | 9.7% | — | ||
| Q2 25 | 7.0% | — | ||
| Q1 25 | 6.8% | — | ||
| Q4 24 | 8.7% | — | ||
| Q3 24 | 10.9% | — | ||
| Q2 24 | 11.5% | — | ||
| Q1 24 | 9.5% | — |
营业利润率RYAMVFS
| Q4 25 | 2.6% | — | ||
| Q3 25 | 2.8% | -96.1% | ||
| Q2 25 | -0.4% | -79.0% | ||
| Q1 25 | -4.2% | -74.0% | ||
| Q4 24 | 2.6% | — | ||
| Q3 24 | -4.2% | -65.9% | ||
| Q2 24 | 6.7% | — | ||
| Q1 24 | 4.4% | -139.4% |
净利率RYAMVFS
| Q4 25 | -5.0% | — | ||
| Q3 25 | -1.3% | -2.8% | ||
| Q2 25 | -106.8% | -7.8% | ||
| Q1 25 | -9.0% | -4.0% | ||
| Q4 24 | -3.8% | — | ||
| Q3 24 | -8.1% | -2.0% | ||
| Q2 24 | 2.7% | — | ||
| Q1 24 | -0.4% | -204.3% |
每股收益（稀释后）RYAMVFS
| Q4 25 | $-0.33 | — | ||
| Q3 25 | $-0.07 | — | ||
| Q2 25 | $-5.44 | — | ||
| Q1 25 | $-0.49 | — | ||
| Q4 24 | $-0.25 | — | ||
| Q3 24 | $-0.49 | — | ||
| Q2 24 | $0.17 | — | ||
| Q1 24 | $-0.02 | — |
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 | $75.4M | $8.8M |
| 总债务越低越好 | $758.1M | — |
| 股东权益账面价值 | $316.6M | — |
| 总资产 | $1.8B | $183.2M |
| 负债/权益比越低杠杆越低 | 2.39× | — |
8季度趋势，按日历期对齐
现金及短期投资RYAMVFS
| Q4 25 | $75.4M | — | ||
| Q3 25 | $77.0M | $8.8M | ||
| Q2 25 | $70.7M | $650.0M | ||
| Q1 25 | $129.9M | $2.4M | ||
| Q4 24 | $125.2M | — | ||
| Q3 24 | $136.1M | $1.9M | ||
| Q2 24 | $114.1M | — | ||
| Q1 24 | $54.6M | $3.0M |
总债务RYAMVFS
| Q4 25 | $758.1M | — | ||
| Q3 25 | $763.5M | — | ||
| Q2 25 | $720.4M | — | ||
| Q1 25 | $707.0M | — | ||
| Q4 24 | $706.4M | — | ||
| Q3 24 | $747.7M | — | ||
| Q2 24 | $752.8M | — | ||
| Q1 24 | $755.6M | — |
股东权益RYAMVFS
| Q4 25 | $316.6M | — | ||
| Q3 25 | $338.2M | — | ||
| Q2 25 | $342.3M | $-7.2B | ||
| Q1 25 | $688.1M | — | ||
| Q4 24 | $713.9M | — | ||
| Q3 24 | $732.7M | — | ||
| Q2 24 | $755.1M | — | ||
| Q1 24 | $741.8M | — |
总资产RYAMVFS
| Q4 25 | $1.8B | — | ||
| Q3 25 | $1.8B | $183.2M | ||
| Q2 25 | $1.8B | $7.2B | ||
| Q1 25 | $2.1B | $158.2M | ||
| Q4 24 | $2.1B | — | ||
| Q3 24 | $2.2B | $151.8M | ||
| Q2 24 | $2.2B | — | ||
| Q1 24 | $2.1B | $145.6M |
负债/权益比RYAMVFS
| Q4 25 | 2.39× | — | ||
| Q3 25 | 2.26× | — | ||
| Q2 25 | 2.10× | — | ||
| Q1 25 | 1.03× | — | ||
| Q4 24 | 0.99× | — | ||
| Q3 24 | 1.02× | — | ||
| Q2 24 | 1.00× | — | ||
| Q1 24 | 1.02× | — |
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 | $32.3M | — |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | — | — |
| 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RYAMVFS
| Q4 25 | $32.3M | — | ||
| Q3 25 | $-17.8M | — | ||
| Q2 25 | $-30.2M | — | ||
| Q1 25 | $39.6M | — | ||
| Q4 24 | $54.9M | — | ||
| Q3 24 | $49.8M | — | ||
| Q2 24 | $87.6M | — | ||
| Q1 24 | $11.3M | — |
现金转化率RYAMVFS
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 7.69× | — | ||
| 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
RYAM
| Cellulose Specialties | $249.6M | 60% |
| Other | $86.2M | 21% |
| Paperboard | $44.2M | 11% |
| High Yield Pulp | $28.3M | 7% |
| Biomaterials | $9.2M | 2% |
VFS
| Sales of vehicles | $662.9M | 92% |
| Sales of spare parts and components | $41.3M | 6% |
| Revenue from leasing activities | $12.3M | 2% |
| Finance income | $2.4M | 0% |
| Rendering of services | $1.2M | 0% |
