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希悦尔（SEE）与思佳讯（SWKS）财务数据对比。点击上方公司名可切换其他公司
希悦尔的季度营收约是思佳讯的1.3倍（$1.4B vs $1.0B），思佳讯净利率更高（7.6% vs 3.1%，领先4.5%），思佳讯同比增速更快（8.6% vs 2.6%），思佳讯自由现金流更多（$339.0M vs $257.7M），过去两年希悦尔的营收复合增速更高（2.7% vs -0.5%）
希悦尔是全球领先的包装与防护解决方案供应商，核心产品包括缓冲防护材料、食品保鲜包装、可持续减废包装系统，服务覆盖电商、零售、食品饮料、工业制造等多个海内外领域。
思佳讯是总部位于美国加利福尼亚州尔湾的半导体企业，公司股票在纳斯达克全球精选市场挂牌交易，股票代码为SWKS，同时也是标普500指数的成分股之一，在全球射频半导体领域拥有较高市场地位。
SEE vs SWKS — 直观对比
营收规模更大
SEE
是对方的1.3倍
$1.0B
营收增速更快
SWKS
高出6.0%
2.6%
净利率更高
SWKS
高出4.5%
3.1%
自由现金流更多
SWKS
多$81.3M
$257.7M
两年增速更快
SEE
近两年复合增速
-0.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.0B |
| 净利润 | $43.8M | $79.2M |
| 毛利率 | 28.6% | 41.3% |
| 营业利润率 | 11.4% | 10.0% |
| 净利率 | 3.1% | 7.6% |
| 营收同比 | 2.6% | 8.6% |
| 净利润同比 | 700.0% | 15.3% |
| 每股收益（稀释后） | $0.30 | $0.53 |
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SEESWKS
| Q1 26 | — | $1.0B | ||
| Q4 25 | $1.4B | $1.1B | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | $1.3B | $965.0M | ||
| Q1 25 | $1.3B | $953.2M | ||
| Q4 24 | $1.4B | $1.1B | ||
| Q3 24 | $1.3B | $1.0B | ||
| Q2 24 | $1.3B | $905.5M |
净利润SEESWKS
| Q1 26 | — | $79.2M | ||
| Q4 25 | $43.8M | $141.4M | ||
| Q3 25 | $255.1M | — | ||
| Q2 25 | $93.1M | $105.0M | ||
| Q1 25 | $113.5M | $68.7M | ||
| Q4 24 | $-7.3M | $162.0M | ||
| Q3 24 | $91.7M | $60.5M | ||
| Q2 24 | $98.3M | $120.9M |
毛利率SEESWKS
| Q1 26 | — | 41.3% | ||
| Q4 25 | 28.6% | 40.7% | ||
| Q3 25 | 29.8% | — | ||
| Q2 25 | 30.7% | 41.6% | ||
| Q1 25 | 30.9% | 41.1% | ||
| Q4 24 | 30.0% | 41.4% | ||
| Q3 24 | 30.1% | 41.9% | ||
| Q2 24 | 31.2% | 40.2% |
营业利润率SEESWKS
| Q1 26 | — | 10.0% | ||
| Q4 25 | 11.4% | 10.1% | ||
| Q3 25 | 13.8% | — | ||
| Q2 25 | 15.0% | 11.5% | ||
| Q1 25 | 14.5% | 10.2% | ||
| Q4 24 | 11.7% | 16.9% | ||
| Q3 24 | 13.9% | 5.8% | ||
| Q2 24 | 15.4% | 14.4% |
净利率SEESWKS
| Q1 26 | — | 7.6% | ||
| Q4 25 | 3.1% | 12.9% | ||
| Q3 25 | 19.0% | — | ||
| Q2 25 | 7.0% | 10.9% | ||
| Q1 25 | 9.0% | 7.2% | ||
| Q4 24 | -0.5% | 15.2% | ||
| Q3 24 | 6.9% | 5.9% | ||
| Q2 24 | 7.4% | 13.4% |
每股收益（稀释后）SEESWKS
| Q1 26 | — | $0.53 | ||
| Q4 25 | $0.30 | $0.95 | ||
| Q3 25 | $1.73 | — | ||
| Q2 25 | $0.63 | $0.70 | ||
| Q1 25 | $0.77 | $0.43 | ||
| Q4 24 | $-0.05 | $1.00 | ||
| Q3 24 | $0.63 | $0.36 | ||
| Q2 24 | $0.67 | $0.75 |
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 | $344.0M | $1.6B |
| 总债务越低越好 | $3.3B | $496.6M |
| 股东权益账面价值 | $1.2B | $5.8B |
| 总资产 | $7.0B | $7.9B |
| 负债/权益比越低杠杆越低 | 2.65× | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资SEESWKS
| Q1 26 | — | $1.6B | ||
| Q4 25 | $344.0M | $1.4B | ||
| Q3 25 | $282.5M | — | ||
| Q2 25 | $354.4M | $1.3B | ||
| Q1 25 | $335.2M | $1.5B | ||
| Q4 24 | $371.8M | $1.7B | ||
| Q3 24 | $386.0M | $1.6B | ||
| Q2 24 | $388.6M | $1.3B |
总债务SEESWKS
| Q1 26 | — | $496.6M | ||
| Q4 25 | $3.3B | $496.4M | ||
| Q3 25 | $4.0B | — | ||
| Q2 25 | $4.0B | $496.2M | ||
| Q1 25 | $4.2B | $995.1M | ||
| Q4 24 | $4.2B | $994.7M | ||
| Q3 24 | $4.3B | $994.3M | ||
| Q2 24 | $4.4B | $994.0M |
股东权益SEESWKS
| Q1 26 | — | $5.8B | ||
| Q4 25 | $1.2B | $5.8B | ||
| Q3 25 | $1.2B | — | ||
| Q2 25 | $953.1M | $5.7B | ||
| Q1 25 | $797.9M | $5.9B | ||
| Q4 24 | $624.5M | $6.4B | ||
| Q3 24 | $771.2M | $6.3B | ||
| Q2 24 | $650.1M | $6.3B |
总资产SEESWKS
| Q1 26 | — | $7.9B | ||
| Q4 25 | $7.0B | $7.9B | ||
| Q3 25 | $7.1B | — | ||
| Q2 25 | $7.2B | $7.7B | ||
| Q1 25 | $7.0B | $7.9B | ||
| Q4 24 | $7.0B | $8.3B | ||
| Q3 24 | $7.3B | $8.3B | ||
| Q2 24 | $7.3B | $8.2B |
负债/权益比SEESWKS
| Q1 26 | — | 0.09× | ||
| Q4 25 | 2.65× | 0.09× | ||
| Q3 25 | 3.34× | — | ||
| Q2 25 | 4.18× | 0.09× | ||
| Q1 25 | 5.26× | 0.17× | ||
| Q4 24 | 6.72× | 0.16× | ||
| Q3 24 | 5.62× | 0.16× | ||
| Q2 24 | 6.81× | 0.16× |
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 | $293.6M | $395.5M |
| 自由现金流经营现金流 - 资本支出 | $257.7M | $339.0M |
| 自由现金流率自由现金流/营收 | 18.5% | 32.7% |
| 资本支出强度资本支出/营收 | 2.6% | 5.5% |
| 现金转化率经营现金流/净利润 | 6.70× | 4.99× |
| 过去12个月自由现金流最近4个季度 | $458.5M | $1.1B |
8季度趋势，按日历期对齐
经营现金流SEESWKS
| Q1 26 | — | $395.5M | ||
| Q4 25 | $293.6M | $200.0M | ||
| Q3 25 | $165.9M | — | ||
| Q2 25 | $136.6M | $314.2M | ||
| Q1 25 | $31.9M | $409.4M | ||
| Q4 24 | $244.2M | $377.2M | ||
| Q3 24 | $170.5M | $476.1M | ||
| Q2 24 | $188.2M | $273.4M |
自由现金流SEESWKS
| Q1 26 | — | $339.0M | ||
| Q4 25 | $257.7M | $144.0M | ||
| Q3 25 | $119.6M | — | ||
| Q2 25 | $93.2M | $252.7M | ||
| Q1 25 | $-12.0M | $370.9M | ||
| Q4 24 | $185.1M | $338.2M | ||
| Q3 24 | $115.2M | $393.3M | ||
| Q2 24 | $129.5M | $249.0M |
自由现金流率SEESWKS
| Q1 26 | — | 32.7% | ||
| Q4 25 | 18.5% | 13.1% | ||
| Q3 25 | 8.9% | — | ||
| Q2 25 | 7.0% | 26.2% | ||
| Q1 25 | -0.9% | 38.9% | ||
| Q4 24 | 13.6% | 31.7% | ||
| Q3 24 | 8.6% | 38.4% | ||
| Q2 24 | 9.7% | 27.5% |
资本支出强度SEESWKS
| Q1 26 | — | 5.5% | ||
| Q4 25 | 2.6% | 5.1% | ||
| Q3 25 | 3.4% | — | ||
| Q2 25 | 3.3% | 6.4% | ||
| Q1 25 | 3.5% | 4.0% | ||
| Q4 24 | 4.4% | 3.6% | ||
| Q3 24 | 4.1% | 8.1% | ||
| Q2 24 | 4.4% | 2.7% |
现金转化率SEESWKS
| Q1 26 | — | 4.99× | ||
| Q4 25 | 6.70× | 1.41× | ||
| Q3 25 | 0.65× | — | ||
| Q2 25 | 1.47× | 2.99× | ||
| Q1 25 | 0.28× | 5.96× | ||
| Q4 24 | — | 2.33× | ||
| Q3 24 | 1.86× | 7.87× | ||
| Q2 24 | 1.91× | 2.26× |
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
SEE
| Protective Segment | $1.1B | 78% |
| Other | $292.0M | 21% |
| Pension Plans Defined Benefit | $7.9M | 1% |
SWKS
| Sales Channel Through Intermediary | $915.6M | 88% |
| Sales Channel Directly To Consumer | $119.8M | 12% |
