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J.M. Smucker Company (The)（SJM）与普信集团（TROW）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)的季度营收约是普信集团的1.2倍（$2.3B vs $1.9B），普信集团净利率更高（23.0% vs 10.4%，领先12.7%），普信集团同比增速更快（6.0% vs 2.6%），J.M. Smucker Company (The)自由现金流更多（$280.2M vs $-85.4M），过去两年普信集团的营收复合增速更高（5.1% vs 2.2%）
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。
普信集团（T. Rowe Price）是美国上市的全球性资产管理机构，面向个人、机构及金融中介提供基金、次咨询服务、独立账户管理、退休规划等多元金融服务。截至2023年，公司管理资产规模超1.51万亿美元，年营收64.8亿美元，位列美国财富1000强第537位。
SJM vs TROW — 直观对比
营收规模更大
SJM
是对方的1.2倍
$1.9B
营收增速更快
TROW
高出3.4%
2.6%
净利率更高
TROW
高出12.7%
10.4%
自由现金流更多
SJM
多$365.6M
$-85.4M
两年增速更快
TROW
近两年复合增速
2.2%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.3B | $1.9B |
| 净利润 | $241.3M | $445.3M |
| 毛利率 | 37.3% | — |
| 营业利润率 | 18.0% | 24.4% |
| 净利率 | 10.4% | 23.0% |
| 营收同比 | 2.6% | 6.0% |
| 净利润同比 | 1084.9% | 1.2% |
| 每股收益（稀释后） | $2.26 | $1.98 |
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SJMTROW
| Q4 25 | $2.3B | $1.9B | ||
| Q3 25 | $2.1B | $1.9B | ||
| Q2 25 | $2.1B | $1.7B | ||
| Q1 25 | $2.2B | $1.8B | ||
| Q4 24 | $2.3B | $1.8B | ||
| Q3 24 | $2.1B | $1.8B | ||
| Q2 24 | $2.2B | $1.7B | ||
| Q1 24 | $2.2B | $1.8B |
净利润SJMTROW
| Q4 25 | $241.3M | $445.3M | ||
| Q3 25 | $-43.9M | $646.1M | ||
| Q2 25 | $-729.0M | $505.2M | ||
| Q1 25 | $-662.3M | $490.5M | ||
| Q4 24 | $-24.5M | $439.9M | ||
| Q3 24 | $185.0M | $603.0M | ||
| Q2 24 | $245.1M | $483.4M | ||
| Q1 24 | $120.4M | $573.8M |
毛利率SJMTROW
| 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SJMTROW
| Q4 25 | 18.0% | 24.4% | ||
| Q3 25 | 2.2% | 34.0% | ||
| Q2 25 | -27.9% | 27.8% | ||
| Q1 25 | -27.2% | 33.8% | ||
| Q4 24 | 7.5% | 31.2% | ||
| Q3 24 | 16.4% | 34.4% | ||
| Q2 24 | 18.4% | 32.6% | ||
| Q1 24 | 13.3% | 33.5% |
净利率SJMTROW
| Q4 25 | 10.4% | 23.0% | ||
| Q3 25 | -2.1% | 34.1% | ||
| Q2 25 | -34.0% | 29.3% | ||
| Q1 25 | -30.3% | 27.8% | ||
| Q4 24 | -1.1% | 24.1% | ||
| Q3 24 | 8.7% | 33.8% | ||
| Q2 24 | 11.1% | 27.9% | ||
| Q1 24 | 5.4% | 32.8% |
每股收益（稀释后）SJMTROW
| Q4 25 | $2.26 | $1.98 | ||
| Q3 25 | $-0.41 | $2.87 | ||
| Q2 25 | $-6.86 | $2.24 | ||
| Q1 25 | $-6.22 | $2.15 | ||
| Q4 24 | $-0.23 | $1.91 | ||
| Q3 24 | $1.74 | $2.64 | ||
| Q2 24 | $2.31 | $2.11 | ||
| Q1 24 | $1.13 | $2.49 |
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 | — | $3.4B |
| 总债务越低越好 | $7.0B | — |
| 股东权益账面价值 | $6.1B | $10.9B |
| 总资产 | $17.6B | $14.3B |
| 负债/权益比越低杠杆越低 | 1.16× | — |
8季度趋势，按日历期对齐
现金及短期投资SJMTROW
| Q4 25 | — | $3.4B | ||
| Q3 25 | — | $3.6B | ||
| Q2 25 | — | $3.1B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | — | $3.2B | ||
| Q2 24 | — | $2.7B | ||
| Q1 24 | — | $2.4B |
总债务SJMTROW
| Q4 25 | $7.0B | — | ||
| Q3 25 | $7.0B | — | ||
| Q2 25 | $7.0B | — | ||
| Q1 25 | $7.4B | — | ||
| Q4 24 | $7.8B | — | ||
| Q3 24 | $7.8B | — | ||
| Q2 24 | $7.8B | — | ||
| Q1 24 | $8.1B | — |
股东权益SJMTROW
| Q4 25 | $6.1B | $10.9B | ||
| Q3 25 | $5.9B | $10.8B | ||
| Q2 25 | $6.1B | $10.6B | ||
| Q1 25 | $6.9B | $10.4B | ||
| Q4 24 | $7.6B | $10.3B | ||
| Q3 24 | $7.8B | $10.2B | ||
| Q2 24 | $7.7B | $9.9B | ||
| Q1 24 | $7.6B | $9.8B |
总资产SJMTROW
| Q4 25 | $17.6B | $14.3B | ||
| Q3 25 | $17.7B | $14.7B | ||
| Q2 25 | $17.6B | $14.3B | ||
| Q1 25 | $18.4B | $14.0B | ||
| Q4 24 | $20.0B | $13.5B | ||
| Q3 24 | $20.3B | $13.7B | ||
| Q2 24 | $20.3B | $13.1B | ||
| Q1 24 | $20.2B | $12.9B |
负债/权益比SJMTROW
| Q4 25 | 1.16× | — | ||
| Q3 25 | 1.19× | — | ||
| Q2 25 | 1.16× | — | ||
| Q1 25 | 1.07× | — | ||
| Q4 24 | 1.02× | — | ||
| Q3 24 | 1.00× | — | ||
| Q2 24 | 1.01× | — | ||
| Q1 24 | 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 | $346.5M | $-18.7M |
| 自由现金流经营现金流 - 资本支出 | $280.2M | $-85.4M |
| 自由现金流率自由现金流/营收 | 12.0% | -4.4% |
| 资本支出强度资本支出/营收 | 2.8% | 3.4% |
| 现金转化率经营现金流/净利润 | 1.44× | -0.04× |
| 过去12个月自由现金流最近4个季度 | $635.5M | $1.5B |
8季度趋势，按日历期对齐
经营现金流SJMTROW
| Q4 25 | $346.5M | $-18.7M | ||
| Q3 25 | $-10.6M | $609.3M | ||
| Q2 25 | $393.9M | $529.9M | ||
| Q1 25 | $239.4M | $632.9M | ||
| Q4 24 | $404.2M | $-281.9M | ||
| Q3 24 | $172.9M | $652.5M | ||
| Q2 24 | $428.1M | $677.7M | ||
| Q1 24 | $406.5M | $637.3M |
自由现金流SJMTROW
| Q4 25 | $280.2M | $-85.4M | ||
| Q3 25 | $-94.9M | $546.0M | ||
| Q2 25 | $298.9M | $467.7M | ||
| Q1 25 | $151.3M | $550.9M | ||
| Q4 24 | $317.2M | $-394.9M | ||
| Q3 24 | $49.2M | $547.9M | ||
| Q2 24 | $297.5M | $574.4M | ||
| Q1 24 | $249.6M | $534.8M |
自由现金流率SJMTROW
| Q4 25 | 12.0% | -4.4% | ||
| Q3 25 | -4.5% | 28.8% | ||
| Q2 25 | 13.9% | 27.1% | ||
| Q1 25 | 6.9% | 31.2% | ||
| Q4 24 | 14.0% | -21.6% | ||
| Q3 24 | 2.3% | 30.7% | ||
| Q2 24 | 13.5% | 33.1% | ||
| Q1 24 | 11.2% | 30.6% |
资本支出强度SJMTROW
| Q4 25 | 2.8% | 3.4% | ||
| Q3 25 | 4.0% | 3.3% | ||
| Q2 25 | 4.4% | 3.6% | ||
| Q1 25 | 4.0% | 4.6% | ||
| Q4 24 | 3.8% | 6.2% | ||
| Q3 24 | 5.8% | 5.9% | ||
| Q2 24 | 5.9% | 6.0% | ||
| Q1 24 | 7.0% | 5.9% |
现金转化率SJMTROW
| Q4 25 | 1.44× | -0.04× | ||
| Q3 25 | — | 0.94× | ||
| Q2 25 | — | 1.05× | ||
| Q1 25 | — | 1.29× | ||
| Q4 24 | — | -0.64× | ||
| Q3 24 | 0.93× | 1.08× | ||
| Q2 24 | 1.75× | 1.40× | ||
| Q1 24 | 3.38× | 1.11× |
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
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% |
TROW
| Asset Management1 | $1.7B | 90% |
| Administrative Distribution Servicing And Other Fee Revenue | $141.5M | 7% |
| Other | $40.8M | 2% |
| Performance Based Advisory Fees | $14.2M | 1% |
