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Smurfit Westrock（SW）与US Foods Holding Corp.（USFD）财务数据对比。点击上方公司名可切换其他公司
US Foods Holding Corp.的季度营收约是Smurfit Westrock的1.3倍（$9.8B vs $7.6B），US Foods Holding Corp.净利率更高（1.9% vs 1.3%，领先0.6%），US Foods Holding Corp.同比增速更快（3.3% vs 0.5%），Smurfit Westrock自由现金流更多（$612.0M vs $159.0M），过去两年Smurfit Westrock的营收复合增速更高（60.8% vs 4.6%）
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。
US Foods Holding Corp.是美国第二大食品服务分销商，规模仅次于Sysco。公司服务覆盖独立餐厅、连锁餐饮、医疗保健、酒店、教育机构等共计25万个场点，为各类客户提供食品配送及相关供应链服务，业务覆盖场景十分多元。
SW vs USFD — 直观对比
营收规模更大
USFD
是对方的1.3倍
$7.6B
营收增速更快
USFD
高出2.7%
0.5%
净利率更高
USFD
高出0.6%
1.3%
自由现金流更多
SW
多$453.0M
$159.0M
两年增速更快
SW
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $7.6B | $9.8B |
| 净利润 | $97.0M | $184.0M |
| 毛利率 | 18.2% | 17.6% |
| 营业利润率 | 5.1% | 3.3% |
| 净利率 | 1.3% | 1.9% |
| 营收同比 | 0.5% | 3.3% |
| 净利润同比 | -33.6% | 178.8% |
| 每股收益（稀释后） | $0.18 | $0.82 |
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SWUSFD
| Q4 25 | $7.6B | $9.8B | ||
| Q3 25 | $8.0B | $10.2B | ||
| Q2 25 | $7.9B | $10.1B | ||
| Q1 25 | $7.7B | $9.4B | ||
| Q4 24 | $7.5B | $9.5B | ||
| Q3 24 | $7.7B | $9.7B | ||
| Q2 24 | $3.0B | $9.7B | ||
| Q1 24 | $2.9B | $8.9B |
净利润SWUSFD
| Q4 25 | $97.0M | $184.0M | ||
| Q3 25 | $246.0M | $153.0M | ||
| Q2 25 | $-28.0M | $224.0M | ||
| Q1 25 | $384.0M | $115.0M | ||
| Q4 24 | $146.0M | $66.0M | ||
| Q3 24 | $-150.0M | $148.0M | ||
| Q2 24 | $132.0M | $198.0M | ||
| Q1 24 | $191.0M | $82.0M |
毛利率SWUSFD
| Q4 25 | 18.2% | 17.6% | ||
| Q3 25 | 19.6% | 17.2% | ||
| Q2 25 | 19.1% | 17.6% | ||
| Q1 25 | 20.6% | 17.3% | ||
| Q4 24 | 19.1% | 17.6% | ||
| Q3 24 | 17.6% | 17.1% | ||
| Q2 24 | 23.3% | 17.6% | ||
| Q1 24 | 24.2% | 16.7% |
营业利润率SWUSFD
| Q4 25 | 5.1% | 3.3% | ||
| Q3 25 | 6.6% | 2.8% | ||
| Q2 25 | 3.2% | 3.7% | ||
| Q1 25 | 7.2% | 2.4% | ||
| Q4 24 | 5.3% | 3.2% | ||
| Q3 24 | 0.7% | 2.9% | ||
| Q2 24 | 8.2% | 3.6% | ||
| Q1 24 | 10.5% | 1.8% |
净利率SWUSFD
| Q4 25 | 1.3% | 1.9% | ||
| Q3 25 | 3.1% | 1.5% | ||
| Q2 25 | -0.4% | 2.2% | ||
| Q1 25 | 5.0% | 1.2% | ||
| Q4 24 | 1.9% | 0.7% | ||
| Q3 24 | -2.0% | 1.5% | ||
| Q2 24 | 4.4% | 2.0% | ||
| Q1 24 | 6.5% | 0.9% |
每股收益（稀释后）SWUSFD
| Q4 25 | $0.18 | $0.82 | ||
| Q3 25 | $0.47 | $0.67 | ||
| Q2 25 | $-0.05 | $0.96 | ||
| Q1 25 | $0.73 | $0.49 | ||
| Q4 24 | $-0.12 | $0.28 | ||
| Q3 24 | $-0.30 | $0.61 | ||
| Q2 24 | $0.51 | $0.80 | ||
| Q1 24 | $0.73 | $0.33 |
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 | $41.0M |
| 总债务越低越好 | $13.4B | $5.1B |
| 股东权益账面价值 | $18.3B | $4.3B |
| 总资产 | $45.2B | $13.9B |
| 负债/权益比越低杠杆越低 | 0.73× | 1.18× |
8季度趋势，按日历期对齐
现金及短期投资SWUSFD
| Q4 25 | $892.0M | $41.0M | ||
| Q3 25 | $851.0M | $56.0M | ||
| Q2 25 | $778.0M | $61.0M | ||
| Q1 25 | $797.0M | $101.0M | ||
| Q4 24 | $855.0M | $59.0M | ||
| Q3 24 | — | $81.0M | ||
| Q2 24 | $26.8K | $405.0M | ||
| Q1 24 | $108 | $267.0M |
总债务SWUSFD
| Q4 25 | $13.4B | $5.1B | ||
| Q3 25 | $13.3B | $4.8B | ||
| Q2 25 | $13.3B | $4.7B | ||
| Q1 25 | $12.9B | $4.7B | ||
| Q4 24 | $12.5B | $4.8B | ||
| Q3 24 | $13.2B | $4.7B | ||
| Q2 24 | — | $4.6B | ||
| Q1 24 | — | $4.6B |
股东权益SWUSFD
| Q4 25 | $18.3B | $4.3B | ||
| Q3 25 | $18.4B | $4.5B | ||
| Q2 25 | $18.3B | $4.6B | ||
| Q1 25 | $17.9B | $4.6B | ||
| Q4 24 | $17.4B | $4.5B | ||
| Q3 24 | $18.0B | $4.6B | ||
| Q2 24 | $14.5K | $5.0B | ||
| Q1 24 | $108 | $4.8B |
总资产SWUSFD
| Q4 25 | $45.2B | $13.9B | ||
| Q3 25 | $45.6B | $14.0B | ||
| Q2 25 | $45.7B | $13.8B | ||
| Q1 25 | $44.6B | $13.7B | ||
| Q4 24 | $43.8B | $13.4B | ||
| Q3 24 | $45.0B | $13.5B | ||
| Q2 24 | $26.8K | $13.7B | ||
| Q1 24 | $108 | $13.4B |
负债/权益比SWUSFD
| Q4 25 | 0.73× | 1.18× | ||
| Q3 25 | 0.72× | 1.08× | ||
| Q2 25 | 0.73× | 1.02× | ||
| Q1 25 | 0.72× | 1.02× | ||
| Q4 24 | 0.72× | 1.06× | ||
| Q3 24 | 0.73× | 1.01× | ||
| Q2 24 | — | 0.92× | ||
| Q1 24 | — | 0.95× |
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 | $293.0M |
| 自由现金流经营现金流 - 资本支出 | $612.0M | $159.0M |
| 自由现金流率自由现金流/营收 | 8.1% | 1.6% |
| 资本支出强度资本支出/营收 | 7.7% | 1.4% |
| 现金转化率经营现金流/净利润 | 12.32× | 1.59× |
| 过去12个月自由现金流最近4个季度 | $1.2B | $959.0M |
8季度趋势，按日历期对齐
经营现金流SWUSFD
| Q4 25 | $1.2B | $293.0M | ||
| Q3 25 | $1.1B | $351.0M | ||
| Q2 25 | $829.0M | $334.0M | ||
| Q1 25 | $235.0M | $391.0M | ||
| Q4 24 | $781.0M | $283.0M | ||
| Q3 24 | $320.0M | $270.0M | ||
| Q2 24 | $340.0M | $482.0M | ||
| Q1 24 | $42.0M | $139.0M |
自由现金流SWUSFD
| Q4 25 | $612.0M | $159.0M | ||
| Q3 25 | $523.0M | $236.0M | ||
| Q2 25 | $307.0M | $257.0M | ||
| Q1 25 | $-242.0M | $307.0M | ||
| Q4 24 | $212.0M | $178.0M | ||
| Q3 24 | $-192.0M | $190.0M | ||
| Q2 24 | $163.0M | $413.0M | ||
| Q1 24 | $-166.0M | $52.0M |
自由现金流率SWUSFD
| Q4 25 | 8.1% | 1.6% | ||
| Q3 25 | 6.5% | 2.3% | ||
| Q2 25 | 3.9% | 2.5% | ||
| Q1 25 | -3.2% | 3.3% | ||
| Q4 24 | 2.8% | 1.9% | ||
| Q3 24 | -2.5% | 2.0% | ||
| Q2 24 | 5.5% | 4.3% | ||
| Q1 24 | -5.7% | 0.6% |
资本支出强度SWUSFD
| Q4 25 | 7.7% | 1.4% | ||
| Q3 25 | 7.6% | 1.1% | ||
| Q2 25 | 6.6% | 0.8% | ||
| Q1 25 | 6.2% | 0.9% | ||
| Q4 24 | 7.5% | 1.1% | ||
| Q3 24 | 6.7% | 0.8% | ||
| Q2 24 | 6.0% | 0.7% | ||
| Q1 24 | 7.1% | 1.0% |
现金转化率SWUSFD
| Q4 25 | 12.32× | 1.59× | ||
| Q3 25 | 4.61× | 2.29× | ||
| Q2 25 | — | 1.49× | ||
| Q1 25 | 0.61× | 3.40× | ||
| Q4 24 | 5.35× | 4.29× | ||
| Q3 24 | — | 1.82× | ||
| Q2 24 | 2.58× | 2.43× | ||
| Q1 24 | 0.22× | 1.70× |
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
SW
| Packaging | $3.3B | 43% |
| Other | $3.2B | 43% |
| Paper | $1.1B | 14% |
USFD
| Product One | $3.5B | 36% |
| Product Two | $1.7B | 17% |
| Product Three | $1.7B | 17% |
| Product Four | $985.0M | 10% |
| Product Five | $901.0M | 9% |
| Product Six | $580.0M | 6% |
| Product Seven | $485.0M | 5% |
