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标普全球（SPGI）与Smurfit Westrock（SW）财务数据对比。点击上方公司名可切换其他公司
Smurfit Westrock的季度营收约是标普全球的1.8倍（$7.6B vs $4.2B），标普全球净利率更高（36.1% vs 1.3%，领先34.8%），标普全球同比增速更快（10.0% vs 0.5%），标普全球自由现金流更多（$919.0M vs $612.0M），过去两年Smurfit Westrock的营收复合增速更高（60.8% vs 8.4%）
标普全球是总部位于美国纽约曼哈顿的上市企业，核心业务涵盖金融信息、数据分析、能源及大宗商品情报服务，旗下拥有标普全球评级、标普全球市场财智、标普全球能源、标普全球移动、印度信用评级机构CRISIL等业务板块，同时控股合资企业标普道琼斯指数。
Smurfit Westrock plc是总部位于爱尔兰都柏林的企业，核心业务为生产瓦楞包装及各类纸制包装产品，公司股票同时在纽约证券交易所和伦敦证券交易所挂牌上市。
SPGI vs SW — 直观对比
营收规模更大
SW
是对方的1.8倍
$4.2B
营收增速更快
SPGI
高出9.5%
0.5%
净利率更高
SPGI
高出34.8%
1.3%
自由现金流更多
SPGI
多$307.0M
$612.0M
两年增速更快
SW
近两年复合增速
8.4%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.2B | $7.6B |
| 净利润 | $1.5B | $97.0M |
| 毛利率 | — | 18.2% |
| 营业利润率 | 48.0% | 5.1% |
| 净利率 | 36.1% | 1.3% |
| 营收同比 | 10.0% | 0.5% |
| 净利润同比 | 28.0% | -33.6% |
| 每股收益（稀释后） | $4.69 | $0.18 |
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SPGISW
| Q1 26 | $4.2B | — | ||
| Q4 25 | $3.9B | $7.6B | ||
| Q3 25 | $3.9B | $8.0B | ||
| Q2 25 | $3.8B | $7.9B | ||
| Q1 25 | $3.8B | $7.7B | ||
| Q4 24 | $3.6B | $7.5B | ||
| Q3 24 | $3.6B | $7.7B | ||
| Q2 24 | $3.5B | $3.0B |
净利润SPGISW
| Q1 26 | $1.5B | — | ||
| Q4 25 | $1.1B | $97.0M | ||
| Q3 25 | $1.2B | $246.0M | ||
| Q2 25 | $1.1B | $-28.0M | ||
| Q1 25 | $1.1B | $384.0M | ||
| Q4 24 | $879.0M | $146.0M | ||
| Q3 24 | $971.0M | $-150.0M | ||
| Q2 24 | $1.0B | $132.0M |
毛利率SPGISW
| Q1 26 | — | — | ||
| Q4 25 | 70.1% | 18.2% | ||
| Q3 25 | 71.2% | 19.6% | ||
| Q2 25 | 70.2% | 19.1% | ||
| Q1 25 | 69.5% | 20.6% | ||
| Q4 24 | 69.8% | 19.1% | ||
| Q3 24 | 70.0% | 17.6% | ||
| Q2 24 | 69.4% | 23.3% |
营业利润率SPGISW
| Q1 26 | 48.0% | — | ||
| Q4 25 | 42.7% | 5.1% | ||
| Q3 25 | 43.1% | 6.6% | ||
| Q2 25 | 41.3% | 3.2% | ||
| Q1 25 | 41.8% | 7.2% | ||
| Q4 24 | 36.4% | 5.3% | ||
| Q3 24 | 40.1% | 0.7% | ||
| Q2 24 | 40.9% | 8.2% |
净利率SPGISW
| Q1 26 | 36.1% | — | ||
| Q4 25 | 28.9% | 1.3% | ||
| Q3 25 | 30.2% | 3.1% | ||
| Q2 25 | 28.5% | -0.4% | ||
| Q1 25 | 28.9% | 5.0% | ||
| Q4 24 | 24.5% | 1.9% | ||
| Q3 24 | 27.2% | -2.0% | ||
| Q2 24 | 28.5% | 4.4% |
每股收益（稀释后）SPGISW
| Q1 26 | $4.69 | — | ||
| Q4 25 | $3.76 | $0.18 | ||
| Q3 25 | $3.86 | $0.47 | ||
| Q2 25 | $3.50 | $-0.05 | ||
| Q1 25 | $3.54 | $0.73 | ||
| Q4 24 | $2.85 | $-0.12 | ||
| Q3 24 | $3.11 | $-0.30 | ||
| Q2 24 | $3.23 | $0.51 |
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 | — | $892.0M |
| 总债务越低越好 | $13.3B | $13.4B |
| 股东权益账面价值 | $31.3B | $18.3B |
| 总资产 | $60.8B | $45.2B |
| 负债/权益比越低杠杆越低 | 0.43× | 0.73× |
8季度趋势，按日历期对齐
现金及短期投资SPGISW
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | $892.0M | ||
| Q3 25 | $1.7B | $851.0M | ||
| Q2 25 | $1.8B | $778.0M | ||
| Q1 25 | $1.5B | $797.0M | ||
| Q4 24 | $1.7B | $855.0M | ||
| Q3 24 | $1.7B | — | ||
| Q2 24 | $2.0B | $26.8K |
总债务SPGISW
| Q1 26 | $13.3B | — | ||
| Q4 25 | $13.1B | $13.4B | ||
| Q3 25 | $11.4B | $13.3B | ||
| Q2 25 | $11.4B | $13.3B | ||
| Q1 25 | $11.4B | $12.9B | ||
| Q4 24 | $11.4B | $12.5B | ||
| Q3 24 | $11.4B | $13.2B | ||
| Q2 24 | $11.4B | — |
股东权益SPGISW
| Q1 26 | $31.3B | — | ||
| Q4 25 | $31.1B | $18.3B | ||
| Q3 25 | $33.1B | $18.4B | ||
| Q2 25 | $33.4B | $18.3B | ||
| Q1 25 | $33.4B | $17.9B | ||
| Q4 24 | $33.2B | $17.4B | ||
| Q3 24 | $34.0B | $18.0B | ||
| Q2 24 | $34.9B | $14.5K |
总资产SPGISW
| Q1 26 | $60.8B | — | ||
| Q4 25 | $61.2B | $45.2B | ||
| Q3 25 | $59.7B | $45.6B | ||
| Q2 25 | $60.4B | $45.7B | ||
| Q1 25 | $59.9B | $44.6B | ||
| Q4 24 | $60.2B | $43.8B | ||
| Q3 24 | $60.4B | $45.0B | ||
| Q2 24 | $61.0B | $26.8K |
负债/权益比SPGISW
| Q1 26 | 0.43× | — | ||
| Q4 25 | 0.42× | 0.73× | ||
| Q3 25 | 0.34× | 0.72× | ||
| Q2 25 | 0.34× | 0.73× | ||
| Q1 25 | 0.34× | 0.72× | ||
| Q4 24 | 0.34× | 0.72× | ||
| Q3 24 | 0.34× | 0.73× | ||
| Q2 24 | 0.33× | — |
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 | — | $1.2B |
| 自由现金流经营现金流 - 资本支出 | $919.0M | $612.0M |
| 自由现金流率自由现金流/营收 | 22.0% | 8.1% |
| 资本支出强度资本支出/营收 | 0.6% | 7.7% |
| 现金转化率经营现金流/净利润 | — | 12.32× |
| 过去12个月自由现金流最近4个季度 | $5.5B | $1.2B |
8季度趋势，按日历期对齐
经营现金流SPGISW
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | $1.2B | ||
| Q3 25 | $1.5B | $1.1B | ||
| Q2 25 | $1.4B | $829.0M | ||
| Q1 25 | $953.0M | $235.0M | ||
| Q4 24 | $1.7B | $781.0M | ||
| Q3 24 | $1.4B | $320.0M | ||
| Q2 24 | $1.6B | $340.0M |
自由现金流SPGISW
| Q1 26 | $919.0M | — | ||
| Q4 25 | $1.7B | $612.0M | ||
| Q3 25 | $1.5B | $523.0M | ||
| Q2 25 | $1.4B | $307.0M | ||
| Q1 25 | $910.0M | $-242.0M | ||
| Q4 24 | $1.7B | $212.0M | ||
| Q3 24 | $1.4B | $-192.0M | ||
| Q2 24 | $1.5B | $163.0M |
自由现金流率SPGISW
| Q1 26 | 22.0% | — | ||
| Q4 25 | 43.5% | 8.1% | ||
| Q3 25 | 37.6% | 6.5% | ||
| Q2 25 | 36.9% | 3.9% | ||
| Q1 25 | 24.1% | -3.2% | ||
| Q4 24 | 47.5% | 2.8% | ||
| Q3 24 | 39.4% | -2.5% | ||
| Q2 24 | 42.9% | 5.5% |
资本支出强度SPGISW
| Q1 26 | 0.6% | — | ||
| Q4 25 | 1.2% | 7.7% | ||
| Q3 25 | 1.2% | 7.6% | ||
| Q2 25 | 1.6% | 6.6% | ||
| Q1 25 | 1.1% | 6.2% | ||
| Q4 24 | 0.9% | 7.5% | ||
| Q3 24 | 1.0% | 6.7% | ||
| Q2 24 | 0.9% | 6.0% |
现金转化率SPGISW
| Q1 26 | — | — | ||
| Q4 25 | 1.54× | 12.32× | ||
| Q3 25 | 1.28× | 4.61× | ||
| Q2 25 | 1.35× | — | ||
| Q1 25 | 0.87× | 0.61× | ||
| Q4 24 | 1.98× | 5.35× | ||
| Q3 24 | 1.49× | — | ||
| Q2 24 | 1.54× | 2.58× |
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
SPGI
| Ratings | $1.3B | 31% |
| Market Intelligence | $1.3B | 31% |
| Energy | $652.0M | 16% |
| Indices | $519.0M | 12% |
| Mobility | $454.0M | 11% |
SW
| Packaging | $3.3B | 43% |
| Other | $3.2B | 43% |
| Paper | $1.1B | 14% |
