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希悦尔（SEE）与Taylor Morrison Home Corp（TMHC）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Taylor Morrison Home Corp的1.0倍（$1.4B vs $1.4B），Taylor Morrison Home Corp净利率更高（7.1% vs 3.1%，领先4.0%），希悦尔同比增速更快（2.6% vs -26.8%），过去两年希悦尔的营收复合增速更高（2.7% vs -16.5%）
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。
泰勒莫里森住房公司是美国规模最大的住宅建筑商之一，总部位于亚利桑那州斯科茨代尔，2007年7月由泰勒伍德罗与莫里森住房合并成立。公司业务覆盖亚利桑那、加利福尼亚、得克萨斯等十余个州，产品涵盖首次置业、中端及中高端住宅，可满足不同层级客户的住房需求。
SEE vs TMHC — 直观对比
营收规模更大
SEE
是对方的1.0倍
$1.4B
营收增速更快
SEE
高出29.5%
-26.8%
净利率更高
TMHC
高出4.0%
3.1%
两年增速更快
SEE
近两年复合增速
-16.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.4B |
| 净利润 | $43.8M | $98.6M |
| 毛利率 | 28.6% | 21.0% |
| 营业利润率 | 11.4% | — |
| 净利率 | 3.1% | 7.1% |
| 营收同比 | 2.6% | -26.8% |
| 净利润同比 | 700.0% | -53.8% |
| 每股收益（稀释后） | $0.30 | $1.12 |
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SEETMHC
| Q1 26 | — | $1.4B | ||
| Q4 25 | $1.4B | $2.1B | ||
| Q3 25 | $1.3B | $2.1B | ||
| Q2 25 | $1.3B | $2.0B | ||
| Q1 25 | $1.3B | $1.9B | ||
| Q4 24 | $1.4B | $2.4B | ||
| Q3 24 | $1.3B | $2.1B | ||
| Q2 24 | $1.3B | $2.0B |
净利润SEETMHC
| Q1 26 | — | $98.6M | ||
| Q4 25 | $43.8M | $174.0M | ||
| Q3 25 | $255.1M | $201.4M | ||
| Q2 25 | $93.1M | $193.6M | ||
| Q1 25 | $113.5M | $213.5M | ||
| Q4 24 | $-7.3M | $242.5M | ||
| Q3 24 | $91.7M | $251.1M | ||
| Q2 24 | $98.3M | $199.5M |
毛利率SEETMHC
| Q1 26 | — | 21.0% | ||
| Q4 25 | 28.6% | 22.0% | ||
| Q3 25 | 29.8% | 22.7% | ||
| Q2 25 | 30.7% | 23.0% | ||
| Q1 25 | 30.9% | 24.4% | ||
| Q4 24 | 30.0% | 23.9% | ||
| Q3 24 | 30.1% | 25.0% | ||
| Q2 24 | 31.2% | 23.7% |
营业利润率SEETMHC
| Q1 26 | — | — | ||
| Q4 25 | 11.4% | — | ||
| Q3 25 | 13.8% | — | ||
| Q2 25 | 15.0% | — | ||
| Q1 25 | 14.5% | — | ||
| Q4 24 | 11.7% | — | ||
| Q3 24 | 13.9% | — | ||
| Q2 24 | 15.4% | — |
净利率SEETMHC
| Q1 26 | — | 7.1% | ||
| Q4 25 | 3.1% | 8.3% | ||
| Q3 25 | 19.0% | 9.6% | ||
| Q2 25 | 7.0% | 9.5% | ||
| Q1 25 | 9.0% | 11.3% | ||
| Q4 24 | -0.5% | 10.3% | ||
| Q3 24 | 6.9% | 11.8% | ||
| Q2 24 | 7.4% | 10.0% |
每股收益（稀释后）SEETMHC
| Q1 26 | — | $1.12 | ||
| Q4 25 | $0.30 | $1.77 | ||
| Q3 25 | $1.73 | $2.01 | ||
| Q2 25 | $0.63 | $1.92 | ||
| Q1 25 | $0.77 | $2.07 | ||
| Q4 24 | $-0.05 | $2.29 | ||
| Q3 24 | $0.63 | $2.37 | ||
| Q2 24 | $0.67 | $1.86 |
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 | $652.9M |
| 总债务越低越好 | $3.3B | — |
| 股东权益账面价值 | $1.2B | $6.2B |
| 总资产 | $7.0B | $9.8B |
| 负债/权益比越低杠杆越低 | 2.65× | — |
8季度趋势，按日历期对齐
现金及短期投资SEETMHC
| Q1 26 | — | $652.9M | ||
| Q4 25 | $344.0M | $850.0M | ||
| Q3 25 | $282.5M | $370.6M | ||
| Q2 25 | $354.4M | $130.2M | ||
| Q1 25 | $335.2M | $377.8M | ||
| Q4 24 | $371.8M | $487.2M | ||
| Q3 24 | $386.0M | $256.4M | ||
| Q2 24 | $388.6M | $246.8M |
总债务SEETMHC
| Q1 26 | — | — | ||
| Q4 25 | $3.3B | $2.3B | ||
| Q3 25 | $4.0B | $2.2B | ||
| Q2 25 | $4.0B | $2.1B | ||
| Q1 25 | $4.2B | $2.1B | ||
| Q4 24 | $4.2B | $2.1B | ||
| Q3 24 | $4.3B | $2.1B | ||
| Q2 24 | $4.4B | $2.2B |
股东权益SEETMHC
| Q1 26 | — | $6.2B | ||
| Q4 25 | $1.2B | $6.3B | ||
| Q3 25 | $1.2B | $6.2B | ||
| Q2 25 | $953.1M | $6.1B | ||
| Q1 25 | $797.9M | $6.0B | ||
| Q4 24 | $624.5M | $5.9B | ||
| Q3 24 | $771.2M | $5.7B | ||
| Q2 24 | $650.1M | $5.5B |
总资产SEETMHC
| Q1 26 | — | $9.8B | ||
| Q4 25 | $7.0B | $9.8B | ||
| Q3 25 | $7.1B | $9.6B | ||
| Q2 25 | $7.2B | $9.5B | ||
| Q1 25 | $7.0B | $9.4B | ||
| Q4 24 | $7.0B | $9.3B | ||
| Q3 24 | $7.3B | $9.3B | ||
| Q2 24 | $7.3B | $9.1B |
负债/权益比SEETMHC
| Q1 26 | — | — | ||
| Q4 25 | 2.65× | 0.36× | ||
| Q3 25 | 3.34× | 0.35× | ||
| Q2 25 | 4.18× | 0.35× | ||
| Q1 25 | 5.26× | 0.35× | ||
| Q4 24 | 6.72× | 0.36× | ||
| Q3 24 | 5.62× | 0.37× | ||
| Q2 24 | 6.81× | 0.39× |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $257.7M | — |
| 自由现金流率自由现金流/营收 | 18.5% | — |
| 资本支出强度资本支出/营收 | 2.6% | — |
| 现金转化率经营现金流/净利润 | 6.70× | — |
| 过去12个月自由现金流最近4个季度 | $458.5M | — |
8季度趋势，按日历期对齐
经营现金流SEETMHC
| Q1 26 | — | — | ||
| Q4 25 | $293.6M | $646.4M | ||
| Q3 25 | $165.9M | $219.6M | ||
| Q2 25 | $136.6M | $-126.0M | ||
| Q1 25 | $31.9M | $77.2M | ||
| Q4 24 | $244.2M | $438.2M | ||
| Q3 24 | $170.5M | $135.9M | ||
| Q2 24 | $188.2M | $-233.3M |
自由现金流SEETMHC
| Q1 26 | — | — | ||
| Q4 25 | $257.7M | $635.3M | ||
| Q3 25 | $119.6M | $206.6M | ||
| Q2 25 | $93.2M | $-133.6M | ||
| Q1 25 | $-12.0M | $68.7M | ||
| Q4 24 | $185.1M | $428.2M | ||
| Q3 24 | $115.2M | $127.1M | ||
| Q2 24 | $129.5M | $-241.7M |
自由现金流率SEETMHC
| Q1 26 | — | — | ||
| Q4 25 | 18.5% | 30.3% | ||
| Q3 25 | 8.9% | 9.9% | ||
| Q2 25 | 7.0% | -6.6% | ||
| Q1 25 | -0.9% | 3.6% | ||
| Q4 24 | 13.6% | 18.2% | ||
| Q3 24 | 8.6% | 6.0% | ||
| Q2 24 | 9.7% | -12.1% |
资本支出强度SEETMHC
| Q1 26 | — | — | ||
| Q4 25 | 2.6% | 0.5% | ||
| Q3 25 | 3.4% | 0.6% | ||
| Q2 25 | 3.3% | 0.4% | ||
| Q1 25 | 3.5% | 0.4% | ||
| Q4 24 | 4.4% | 0.4% | ||
| Q3 24 | 4.1% | 0.4% | ||
| Q2 24 | 4.4% | 0.4% |
现金转化率SEETMHC
| Q1 26 | — | — | ||
| Q4 25 | 6.70× | 3.71× | ||
| Q3 25 | 0.65× | 1.09× | ||
| Q2 25 | 1.47× | -0.65× | ||
| Q1 25 | 0.28× | 0.36× | ||
| Q4 24 | — | 1.81× | ||
| Q3 24 | 1.86× | 0.54× | ||
| Q2 24 | 1.91× | -1.17× |
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% |
TMHC
| Home closings revenue, net | $1.3B | 95% |
| Financial services revenue, net | $49.3M | 4% |
| Land closings revenue | $14.5M | 1% |
| Amenity and other revenue | $11.9M | 1% |
