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Solventum（SOLV）与百胜餐饮集团（YUM）财务数据对比。点击上方公司名可切换其他公司
百胜餐饮集团的季度营收约是Solventum的1.3倍（$2.5B vs $2.0B），百胜餐饮集团净利率更高（21.3% vs 3.2%，领先18.1%），百胜餐饮集团同比增速更快（6.5% vs -3.7%），百胜餐饮集团自由现金流更多（$482.0M vs $32.0M），过去两年百胜餐饮集团的营收复合增速更高（25.5% vs -0.4%）
Solventum是一家总部位于美国的医疗健康企业，于2024年4月1日正式从全球知名多元化工业集团3M分拆后独立运营，继承了原3M旗下医疗板块的技术积累与业务资源，面向全球市场提供专业医疗相关产品及服务。
百胜餐饮集团是美国跨国快餐企业，前身为百事可乐1977年收购肯德基、必胜客、塔可贝尔后成立的子公司，1997年从百事可乐分拆独立。目前集团运营肯德基、必胜客、塔可贝尔、哈比特汉堡等知名餐饮品牌，同时持有多家科技公司为业务发展提供支持。
SOLV vs YUM — 直观对比
营收规模更大
YUM
是对方的1.3倍
$2.0B
营收增速更快
YUM
高出10.2%
-3.7%
净利率更高
YUM
高出18.1%
3.2%
自由现金流更多
YUM
多$450.0M
$32.0M
两年增速更快
YUM
近两年复合增速
-0.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $2.5B |
| 净利润 | $63.0M | $535.0M |
| 毛利率 | 51.4% | 67.6% |
| 营业利润率 | 6.3% | 29.3% |
| 净利率 | 3.2% | 21.3% |
| 营收同比 | -3.7% | 6.5% |
| 净利润同比 | 103.2% | 26.5% |
| 每股收益（稀释后） | $0.37 | $1.91 |
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SOLVYUM
| Q4 25 | $2.0B | $2.5B | ||
| Q3 25 | $2.1B | $2.0B | ||
| Q2 25 | $2.2B | $1.9B | ||
| Q1 25 | $2.1B | $1.8B | ||
| Q4 24 | $2.1B | $2.4B | ||
| Q3 24 | $2.1B | $1.8B | ||
| Q2 24 | $2.1B | $1.8B | ||
| Q1 24 | $2.0B | $1.6B |
净利润SOLVYUM
| Q4 25 | $63.0M | $535.0M | ||
| Q3 25 | $1.3B | $397.0M | ||
| Q2 25 | $90.0M | $374.0M | ||
| Q1 25 | $137.0M | $253.0M | ||
| Q4 24 | $31.0M | $423.0M | ||
| Q3 24 | $122.0M | $382.0M | ||
| Q2 24 | $89.0M | $367.0M | ||
| Q1 24 | $237.0M | $314.0M |
毛利率SOLVYUM
| Q4 25 | 51.4% | 67.6% | ||
| Q3 25 | 54.2% | 70.3% | ||
| Q2 25 | 54.4% | 71.0% | ||
| Q1 25 | 53.8% | 70.9% | ||
| Q4 24 | 53.9% | 69.2% | ||
| Q3 24 | 56.0% | 71.4% | ||
| Q2 24 | 54.6% | 73.3% | ||
| Q1 24 | 58.1% | 75.0% |
营业利润率SOLVYUM
| Q4 25 | 6.3% | 29.3% | ||
| Q3 25 | 80.6% | 33.7% | ||
| Q2 25 | 9.9% | 32.2% | ||
| Q1 25 | 7.3% | 30.7% | ||
| Q4 24 | 6.6% | 27.8% | ||
| Q3 24 | 13.2% | 33.9% | ||
| Q2 24 | 11.7% | 34.4% | ||
| Q1 24 | 18.9% | 32.5% |
净利率SOLVYUM
| Q4 25 | 3.2% | 21.3% | ||
| Q3 25 | 60.4% | 20.1% | ||
| Q2 25 | 4.2% | 19.3% | ||
| Q1 25 | 6.6% | 14.2% | ||
| Q4 24 | 1.5% | 17.9% | ||
| Q3 24 | 5.9% | 20.9% | ||
| Q2 24 | 4.3% | 20.8% | ||
| Q1 24 | 11.8% | 19.6% |
每股收益（稀释后）SOLVYUM
| Q4 25 | $0.37 | $1.91 | ||
| Q3 25 | $7.22 | $1.41 | ||
| Q2 25 | $0.51 | $1.33 | ||
| Q1 25 | $0.78 | $0.90 | ||
| Q4 24 | $0.18 | $1.49 | ||
| Q3 24 | $0.70 | $1.35 | ||
| Q2 24 | $0.51 | $1.28 | ||
| Q1 24 | $1.37 | $1.10 |
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 | $878.0M | $709.0M |
| 总债务越低越好 | $5.0B | $11.9B |
| 股东权益账面价值 | $5.0B | $-7.3B |
| 总资产 | $14.3B | $8.2B |
| 负债/权益比越低杠杆越低 | 1.00× | — |
8季度趋势，按日历期对齐
现金及短期投资SOLVYUM
| Q4 25 | $878.0M | $709.0M | ||
| Q3 25 | $1.6B | $1.0B | ||
| Q2 25 | $492.0M | $677.0M | ||
| Q1 25 | $534.0M | $607.0M | ||
| Q4 24 | $762.0M | $707.0M | ||
| Q3 24 | $772.0M | $548.0M | ||
| Q2 24 | $897.0M | $520.0M | ||
| Q1 24 | $996.0M | $652.0M |
总债务SOLVYUM
| Q4 25 | $5.0B | $11.9B | ||
| Q3 25 | $5.1B | $11.5B | ||
| Q2 25 | $7.8B | $10.4B | ||
| Q1 25 | $7.9B | $11.3B | ||
| Q4 24 | $8.0B | $11.3B | ||
| Q3 24 | $8.1B | $11.2B | ||
| Q2 24 | $8.3B | $11.1B | ||
| Q1 24 | $8.3B | $11.1B |
股东权益SOLVYUM
| Q4 25 | $5.0B | $-7.3B | ||
| Q3 25 | $5.0B | $-7.5B | ||
| Q2 25 | $3.6B | $-7.7B | ||
| Q1 25 | $3.3B | $-7.8B | ||
| Q4 24 | $3.0B | $-7.6B | ||
| Q3 24 | $3.2B | $-7.7B | ||
| Q2 24 | $2.9B | $-7.6B | ||
| Q1 24 | $3.9B | $-7.8B |
总资产SOLVYUM
| Q4 25 | $14.3B | $8.2B | ||
| Q3 25 | $14.0B | $7.2B | ||
| Q2 25 | $15.1B | $6.9B | ||
| Q1 25 | $14.5B | $6.7B | ||
| Q4 24 | $14.5B | $6.7B | ||
| Q3 24 | $14.7B | $6.5B | ||
| Q2 24 | $14.6B | $6.4B | ||
| Q1 24 | $14.7B | $6.2B |
负债/权益比SOLVYUM
| Q4 25 | 1.00× | — | ||
| Q3 25 | 1.03× | — | ||
| Q2 25 | 2.14× | — | ||
| Q1 25 | 2.43× | — | ||
| Q4 24 | 2.71× | — | ||
| Q3 24 | 2.54× | — | ||
| Q2 24 | 2.90× | — | ||
| Q1 24 | 2.16× | — |
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 | $95.0M | $617.0M |
| 自由现金流经营现金流 - 资本支出 | $32.0M | $482.0M |
| 自由现金流率自由现金流/营收 | 1.6% | 19.2% |
| 资本支出强度资本支出/营收 | 3.2% | 5.4% |
| 现金转化率经营现金流/净利润 | 1.51× | 1.15× |
| 过去12个月自由现金流最近4个季度 | $-10.0M | $1.6B |
8季度趋势，按日历期对齐
经营现金流SOLVYUM
| Q4 25 | $95.0M | $617.0M | ||
| Q3 25 | $76.0M | $543.0M | ||
| Q2 25 | $169.0M | $446.0M | ||
| Q1 25 | $29.0M | $404.0M | ||
| Q4 24 | $219.0M | $513.0M | ||
| Q3 24 | $169.0M | $471.0M | ||
| Q2 24 | $355.0M | $342.0M | ||
| Q1 24 | $442.0M | $363.0M |
自由现金流SOLVYUM
| Q4 25 | $32.0M | $482.0M | ||
| Q3 25 | $-21.0M | $449.0M | ||
| Q2 25 | $59.0M | $375.0M | ||
| Q1 25 | $-80.0M | $333.0M | ||
| Q4 24 | $92.0M | $407.0M | ||
| Q3 24 | $76.0M | $419.0M | ||
| Q2 24 | $297.0M | $292.0M | ||
| Q1 24 | $340.0M | $314.0M |
自由现金流率SOLVYUM
| Q4 25 | 1.6% | 19.2% | ||
| Q3 25 | -1.0% | 22.7% | ||
| Q2 25 | 2.7% | 19.4% | ||
| Q1 25 | -3.9% | 18.6% | ||
| Q4 24 | 4.4% | 17.2% | ||
| Q3 24 | 3.7% | 22.9% | ||
| Q2 24 | 14.3% | 16.6% | ||
| Q1 24 | 16.9% | 19.6% |
资本支出强度SOLVYUM
| Q4 25 | 3.2% | 5.4% | ||
| Q3 25 | 4.6% | 4.7% | ||
| Q2 25 | 5.1% | 3.7% | ||
| Q1 25 | 5.3% | 4.0% | ||
| Q4 24 | 6.1% | 4.5% | ||
| Q3 24 | 4.5% | 2.8% | ||
| Q2 24 | 2.8% | 2.8% | ||
| Q1 24 | 5.1% | 3.1% |
现金转化率SOLVYUM
| Q4 25 | 1.51× | 1.15× | ||
| Q3 25 | 0.06× | 1.37× | ||
| Q2 25 | 1.88× | 1.19× | ||
| Q1 25 | 0.21× | 1.60× | ||
| Q4 24 | 7.06× | 1.21× | ||
| Q3 24 | 1.39× | 1.23× | ||
| Q2 24 | 3.99× | 0.93× | ||
| Q1 24 | 1.86× | 1.16× |
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
SOLV
| Infection Prevention And Surgical Solutions | $752.0M | 38% |
| Cost Of Software And Rentals | $508.0M | 25% |
| Health Information Systems Segment | $347.0M | 17% |
| Dental Solutions Segment | $343.0M | 17% |
| Related Party | $14.0M | 1% |
YUM
| Other | $1.5B | 59% |
| Advertising | $547.0M | 22% |
| Pizza Hut Global Division | $303.0M | 12% |
| The Habit Burger Grill Global Division | $174.0M | 7% |
| Real Estate | $4.0M | 0% |
