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SONOCO PRODUCTS CO（SON）与百胜中国（YUMC）财务数据对比。点击上方公司名可切换其他公司
百胜中国的季度营收约是SONOCO PRODUCTS CO的1.7倍（$2.8B vs $1.7B），百胜中国净利率更高（5.0% vs 4.1%，领先0.9%），百胜中国同比增速更快（8.8% vs -1.9%），百胜中国自由现金流更多（$-116.0M vs $-428.3B），过去两年SONOCO PRODUCTS CO的营收复合增速更高（1.2% vs -2.3%）
索诺科产品公司是美国多元化包装服务商，主营消费包装、工业产品、防护包装及包装供应链服务，是全球最大的复合罐、纸管和纸芯生产商。公司成立于1889年，年净销售额约73亿美元，在33个国家设有超335个运营点，员工1.99万名，业务覆盖超85个国家，总部位于南卡罗来纳州哈茨维尔。
百胜中国是总部位于上海的世界500强快餐企业，2016年从百胜餐饮集团分拆独立上市，获百胜餐饮集团商标授权，按全系统销售额的3%支付授权费。目前在国内1100多座城市运营超8400家餐厅，全球门店总数超10600家，年营收达95亿美元，是全球规模最大的餐饮企业之一。
SON vs YUMC — 直观对比
营收规模更大
YUMC
是对方的1.7倍
$1.7B
营收增速更快
YUMC
高出10.7%
-1.9%
净利率更高
YUMC
高出0.9%
4.1%
自由现金流更多
YUMC
多$428.2B
$-428.3B
两年增速更快
SON
近两年复合增速
-2.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $2.8B |
| 净利润 | $68.0M | $140.0M |
| 毛利率 | 20.6% | — |
| 营业利润率 | 7.6% | 6.6% |
| 净利率 | 4.1% | 5.0% |
| 营收同比 | -1.9% | 8.8% |
| 净利润同比 | 25.9% | 21.7% |
| 每股收益（稀释后） | $0.68 | $0.40 |
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SONYUMC
| Q1 26 | $1.7B | — | ||
| Q4 25 | $1.8B | $2.8B | ||
| Q3 25 | $2.1B | $3.2B | ||
| Q2 25 | $1.9B | $2.8B | ||
| Q1 25 | $1.7B | $3.0B | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | $1.7B | $3.1B | ||
| Q2 24 | $1.6B | $2.7B |
净利润SONYUMC
| Q1 26 | $68.0M | — | ||
| Q4 25 | $332.2M | $140.0M | ||
| Q3 25 | $122.9M | $282.0M | ||
| Q2 25 | $493.4M | $215.0M | ||
| Q1 25 | $54.4M | $292.0M | ||
| Q4 24 | — | $115.0M | ||
| Q3 24 | $50.9M | $297.0M | ||
| Q2 24 | $90.8M | $212.0M |
毛利率SONYUMC
| Q1 26 | 20.6% | — | ||
| Q4 25 | 19.6% | — | ||
| Q3 25 | 21.9% | — | ||
| Q2 25 | 21.3% | — | ||
| Q1 25 | 20.7% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 21.4% | — | ||
| Q2 24 | 22.0% | — |
营业利润率SONYUMC
| Q1 26 | 7.6% | — | ||
| Q4 25 | 29.4% | 6.6% | ||
| Q3 25 | 9.1% | 12.5% | ||
| Q2 25 | 9.2% | 10.9% | ||
| Q1 25 | 7.4% | 13.4% | ||
| Q4 24 | — | 5.8% | ||
| Q3 24 | 7.6% | 12.1% | ||
| Q2 24 | 8.6% | 9.9% |
净利率SONYUMC
| Q1 26 | 4.1% | — | ||
| Q4 25 | 18.8% | 5.0% | ||
| Q3 25 | 5.8% | 8.8% | ||
| Q2 25 | 25.8% | 7.7% | ||
| Q1 25 | 3.2% | 9.8% | ||
| Q4 24 | — | 4.4% | ||
| Q3 24 | 3.0% | 9.7% | ||
| Q2 24 | 5.6% | 7.9% |
每股收益（稀释后）SONYUMC
| Q1 26 | $0.68 | — | ||
| Q4 25 | $3.33 | $0.40 | ||
| Q3 25 | $1.23 | $0.76 | ||
| Q2 25 | $4.96 | $0.58 | ||
| Q1 25 | $0.55 | $0.77 | ||
| Q4 24 | — | $0.30 | ||
| Q3 24 | $0.51 | $0.77 | ||
| Q2 24 | $0.92 | $0.55 |
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 | $224.5M | $1.4B |
| 总债务越低越好 | $3.5B | — |
| 股东权益账面价值 | $3.6B | $5.4B |
| 总资产 | $11.1B | $10.8B |
| 负债/权益比越低杠杆越低 | 0.97× | — |
8季度趋势，按日历期对齐
现金及短期投资SONYUMC
| Q1 26 | $224.5M | — | ||
| Q4 25 | $378.4M | $1.4B | ||
| Q3 25 | $244.9M | $2.1B | ||
| Q2 25 | $329.8M | $2.2B | ||
| Q1 25 | $181.8M | $2.0B | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | $1.9B | $2.5B | ||
| Q2 24 | $140.2M | $2.5B |
总债务SONYUMC
| Q1 26 | $3.5B | — | ||
| Q4 25 | $3.8B | — | ||
| Q3 25 | $3.8B | — | ||
| Q2 25 | $5.0B | — | ||
| Q1 25 | $5.0B | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $4.3B | — | ||
| Q2 24 | $2.5B | — |
股东权益SONYUMC
| Q1 26 | $3.6B | — | ||
| Q4 25 | $3.6B | $5.4B | ||
| Q3 25 | $3.3B | $5.7B | ||
| Q2 25 | $3.2B | $5.8B | ||
| Q1 25 | $2.4B | $5.8B | ||
| Q4 24 | — | $5.7B | ||
| Q3 24 | $2.5B | $6.0B | ||
| Q2 24 | $2.4B | $5.8B |
总资产SONYUMC
| Q1 26 | $11.1B | — | ||
| Q4 25 | $11.2B | $10.8B | ||
| Q3 25 | $11.7B | $11.0B | ||
| Q2 25 | $12.0B | $11.0B | ||
| Q1 25 | $12.7B | $11.0B | ||
| Q4 24 | — | $11.1B | ||
| Q3 24 | $9.0B | $11.8B | ||
| Q2 24 | $7.2B | $11.6B |
负债/权益比SONYUMC
| Q1 26 | 0.97× | — | ||
| Q4 25 | 1.05× | — | ||
| Q3 25 | 1.15× | — | ||
| Q2 25 | 1.54× | — | ||
| Q1 25 | 2.03× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.74× | — | ||
| Q2 24 | 1.04× | — |
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 | — | $125.0M |
| 自由现金流经营现金流 - 资本支出 | $-428.3B | $-116.0M |
| 自由现金流率自由现金流/营收 | -25547.4% | -4.1% |
| 资本支出强度资本支出/营收 | 3600.5% | 8.5% |
| 现金转化率经营现金流/净利润 | — | 0.89× |
| 过去12个月自由现金流最近4个季度 | $-427.6B | $840.0M |
8季度趋势，按日历期对齐
经营现金流SONYUMC
| Q1 26 | — | — | ||
| Q4 25 | $412.9M | $125.0M | ||
| Q3 25 | $291.5M | $477.0M | ||
| Q2 25 | $193.4M | $412.0M | ||
| Q1 25 | $-208.1M | $452.0M | ||
| Q4 24 | — | $167.0M | ||
| Q3 24 | $162.1M | $409.0M | ||
| Q2 24 | $109.3M | $401.0M |
自由现金流SONYUMC
| Q1 26 | $-428.3B | — | ||
| Q4 25 | $322.3M | $-116.0M | ||
| Q3 25 | $225.6M | $351.0M | ||
| Q2 25 | $98.6M | $290.0M | ||
| Q1 25 | $-300.8M | $315.0M | ||
| Q4 24 | — | $-15.0M | ||
| Q3 24 | $70.5M | $244.0M | ||
| Q2 24 | $16.0M | $232.0M |
自由现金流率SONYUMC
| Q1 26 | -25547.4% | — | ||
| Q4 25 | 18.2% | -4.1% | ||
| Q3 25 | 10.6% | 10.9% | ||
| Q2 25 | 5.2% | 10.4% | ||
| Q1 25 | -17.6% | 10.6% | ||
| Q4 24 | — | -0.6% | ||
| Q3 24 | 4.2% | 7.9% | ||
| Q2 24 | 1.0% | 8.7% |
资本支出强度SONYUMC
| Q1 26 | 3600.5% | — | ||
| Q4 25 | 5.1% | 8.5% | ||
| Q3 25 | 3.1% | 3.9% | ||
| Q2 25 | 5.0% | 4.4% | ||
| Q1 25 | 5.4% | 4.6% | ||
| Q4 24 | — | 7.0% | ||
| Q3 24 | 5.5% | 5.4% | ||
| Q2 24 | 5.7% | 6.3% |
现金转化率SONYUMC
| Q1 26 | — | — | ||
| Q4 25 | 1.24× | 0.89× | ||
| Q3 25 | 2.37× | 1.69× | ||
| Q2 25 | 0.39× | 1.92× | ||
| Q1 25 | -3.82× | 1.55× | ||
| Q4 24 | — | 1.45× | ||
| Q3 24 | 3.18× | 1.38× | ||
| Q2 24 | 1.20× | 1.89× |
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
SON
| Consumer Packaging | $1.1B | 65% |
| Industrial Paper Packaging | $587.5M | 35% |
| All Other | $55.1M | 3% |
YUMC
| Revenue From External Customers | $2.1B | 75% |
| Pizza Hut | $540.0M | 19% |
| Corporate And Unallocated | $105.0M | 4% |
| Other Revenue | $45.0M | 2% |
| Franchise Fees And Income | $25.0M | 1% |
