vs
Smurfit Westrock（SW）与WORLD KINECT CORP（WKC）财务数据对比。点击上方公司名可切换其他公司
WORLD KINECT CORP的季度营收约是Smurfit Westrock的1.3倍（$9.7B vs $7.6B），Smurfit Westrock净利率更高（1.3% vs -0.0%，领先1.3%），WORLD KINECT CORP同比增速更快（2.0% vs 0.5%），Smurfit Westrock自由现金流更多（$612.0M vs $-60.2M），过去两年Smurfit Westrock的营收复合增速更高（60.8% vs -6.0%）
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。
世界科耐特公司（原世界燃料服务公司）是一家总部位于美国佛罗里达州多拉市的能源大宗商品服务企业，在2022年财富美国500强榜单中排名第70位。公司核心业务涵盖航空、海运、建筑及陆路运输领域能源大宗商品的销售、交易与融资及相关服务，2013年起也开展天然气与电力相关业务。
SW vs WKC — 直观对比
营收规模更大
WKC
是对方的1.3倍
$7.6B
营收增速更快
WKC
高出1.5%
0.5%
净利率更高
SW
高出1.3%
-0.0%
自由现金流更多
SW
多$672.2M
$-60.2M
两年增速更快
SW
近两年复合增速
-6.0%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $7.6B | $9.7B |
| 净利润 | $97.0M | $-700.0K |
| 毛利率 | 18.2% | 2.8% |
| 营业利润率 | 5.1% | — |
| 净利率 | 1.3% | -0.0% |
| 营收同比 | 0.5% | 2.0% |
| 净利润同比 | -33.6% | -250.0% |
| 每股收益（稀释后） | $0.18 | $0.50 |
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SWWKC
| Q1 26 | — | $9.7B | ||
| Q4 25 | $7.6B | $9.0B | ||
| Q3 25 | $8.0B | $9.4B | ||
| Q2 25 | $7.9B | $9.0B | ||
| Q1 25 | $7.7B | $9.5B | ||
| Q4 24 | $7.5B | $9.8B | ||
| Q3 24 | $7.7B | $10.5B | ||
| Q2 24 | $3.0B | $11.0B |
净利润SWWKC
| Q1 26 | — | $-700.0K | ||
| Q4 25 | $97.0M | $-279.6M | ||
| Q3 25 | $246.0M | $25.7M | ||
| Q2 25 | $-28.0M | $-339.4M | ||
| Q1 25 | $384.0M | $-21.1M | ||
| Q4 24 | $146.0M | $-101.8M | ||
| Q3 24 | $-150.0M | $33.5M | ||
| Q2 24 | $132.0M | $108.3M |
毛利率SWWKC
| Q1 26 | — | 2.8% | ||
| Q4 25 | 18.2% | 2.6% | ||
| Q3 25 | 19.6% | 2.7% | ||
| Q2 25 | 19.1% | 2.6% | ||
| Q1 25 | 20.6% | 2.4% | ||
| Q4 24 | 19.1% | 2.7% | ||
| Q3 24 | 17.6% | 2.6% | ||
| Q2 24 | 23.3% | 2.2% |
营业利润率SWWKC
| Q1 26 | — | — | ||
| Q4 25 | 5.1% | -3.1% | ||
| Q3 25 | 6.6% | 0.7% | ||
| Q2 25 | 3.2% | -3.8% | ||
| Q1 25 | 7.2% | -0.1% | ||
| Q4 24 | 5.3% | 0.3% | ||
| Q3 24 | 0.7% | 0.7% | ||
| Q2 24 | 8.2% | 0.4% |
净利率SWWKC
| Q1 26 | — | -0.0% | ||
| Q4 25 | 1.3% | -3.1% | ||
| Q3 25 | 3.1% | 0.3% | ||
| Q2 25 | -0.4% | -3.8% | ||
| Q1 25 | 5.0% | -0.2% | ||
| Q4 24 | 1.9% | -1.0% | ||
| Q3 24 | -2.0% | 0.3% | ||
| Q2 24 | 4.4% | 1.0% |
每股收益（稀释后）SWWKC
| Q1 26 | — | $0.50 | ||
| Q4 25 | $0.18 | $-5.02 | ||
| Q3 25 | $0.47 | $0.46 | ||
| Q2 25 | $-0.05 | $-6.06 | ||
| Q1 25 | $0.73 | $-0.37 | ||
| Q4 24 | $-0.12 | $-1.70 | ||
| Q3 24 | $-0.30 | $0.57 | ||
| Q2 24 | $0.51 | $1.81 |
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 | $151.1M |
| 总债务越低越好 | $13.4B | $798.7M |
| 股东权益账面价值 | $18.3B | $1.2B |
| 总资产 | $45.2B | $6.8B |
| 负债/权益比越低杠杆越低 | 0.73× | 0.66× |
8季度趋势，按日历期对齐
现金及短期投资SWWKC
| Q1 26 | — | $151.1M | ||
| Q4 25 | $892.0M | $193.5M | ||
| Q3 25 | $851.0M | $473.6M | ||
| Q2 25 | $778.0M | $403.2M | ||
| Q1 25 | $797.0M | $456.4M | ||
| Q4 24 | $855.0M | $382.9M | ||
| Q3 24 | — | $373.8M | ||
| Q2 24 | $26.8K | $524.6M |
总债务SWWKC
| Q1 26 | — | $798.7M | ||
| Q4 25 | $13.4B | $685.2M | ||
| Q3 25 | $13.3B | $766.6M | ||
| Q2 25 | $13.3B | $775.2M | ||
| Q1 25 | $12.9B | $792.3M | ||
| Q4 24 | $12.5B | $796.8M | ||
| Q3 24 | $13.2B | $798.0M | ||
| Q2 24 | — | $797.8M |
股东权益SWWKC
| Q1 26 | — | $1.2B | ||
| Q4 25 | $18.3B | $1.3B | ||
| Q3 25 | $18.4B | $1.6B | ||
| Q2 25 | $18.3B | $1.6B | ||
| Q1 25 | $17.9B | $1.9B | ||
| Q4 24 | $17.4B | $1.9B | ||
| Q3 24 | $18.0B | $2.0B | ||
| Q2 24 | $14.5K | $2.0B |
总资产SWWKC
| Q1 26 | — | $6.8B | ||
| Q4 25 | $45.2B | $5.9B | ||
| Q3 25 | $45.6B | $6.1B | ||
| Q2 25 | $45.7B | $6.1B | ||
| Q1 25 | $44.6B | $6.6B | ||
| Q4 24 | $43.8B | $6.7B | ||
| Q3 24 | $45.0B | $7.0B | ||
| Q2 24 | $26.8K | $7.2B |
负债/权益比SWWKC
| Q1 26 | — | 0.66× | ||
| Q4 25 | 0.73× | 0.53× | ||
| Q3 25 | 0.72× | 0.47× | ||
| Q2 25 | 0.73× | 0.48× | ||
| Q1 25 | 0.72× | 0.41× | ||
| Q4 24 | 0.72× | 0.41× | ||
| Q3 24 | 0.73× | 0.39× | ||
| Q2 24 | — | 0.39× |
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 | $612.0M | $-60.2M |
| 自由现金流率自由现金流/营收 | 8.1% | -0.6% |
| 资本支出强度资本支出/营收 | 7.7% | 0.1% |
| 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 | $1.2B | $67.9M |
8季度趋势，按日历期对齐
经营现金流SWWKC
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | $34.2M | ||
| Q3 25 | $1.1B | $116.1M | ||
| Q2 25 | $829.0M | $28.2M | ||
| Q1 25 | $235.0M | $114.4M | ||
| Q4 24 | $781.0M | $120.3M | ||
| Q3 24 | $320.0M | $-38.5M | ||
| Q2 24 | $340.0M | $67.9M |
自由现金流SWWKC
| Q1 26 | — | $-60.2M | ||
| Q4 25 | $612.0M | $12.9M | ||
| Q3 25 | $523.0M | $102.0M | ||
| Q2 25 | $307.0M | $13.2M | ||
| Q1 25 | $-242.0M | $99.2M | ||
| Q4 24 | $212.0M | $102.4M | ||
| Q3 24 | $-192.0M | $-56.7M | ||
| Q2 24 | $163.0M | $53.3M |
自由现金流率SWWKC
| Q1 26 | — | -0.6% | ||
| Q4 25 | 8.1% | 0.1% | ||
| Q3 25 | 6.5% | 1.1% | ||
| Q2 25 | 3.9% | 0.1% | ||
| Q1 25 | -3.2% | 1.0% | ||
| Q4 24 | 2.8% | 1.0% | ||
| Q3 24 | -2.5% | -0.5% | ||
| Q2 24 | 5.5% | 0.5% |
资本支出强度SWWKC
| Q1 26 | — | 0.1% | ||
| Q4 25 | 7.7% | 0.2% | ||
| Q3 25 | 7.6% | 0.2% | ||
| Q2 25 | 6.6% | 0.2% | ||
| Q1 25 | 6.2% | 0.2% | ||
| Q4 24 | 7.5% | 0.2% | ||
| Q3 24 | 6.7% | 0.2% | ||
| Q2 24 | 6.0% | 0.1% |
现金转化率SWWKC
| Q1 26 | — | — | ||
| Q4 25 | 12.32× | — | ||
| Q3 25 | 4.61× | 4.52× | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.61× | — | ||
| Q4 24 | 5.35× | — | ||
| Q3 24 | — | -1.15× | ||
| Q2 24 | 2.58× | 0.63× |
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% |
WKC
| Aviation segment | $5.0B | 52% |
| Land segment | $2.9B | 30% |
| Marine segment | $1.9B | 20% |
