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特诺控股（TROX）与Voya Financial, Inc.（VOYA）财务数据对比。点击上方公司名可切换其他公司
特诺控股的季度营收约是Voya Financial, Inc.的1.2倍（$730.0M vs $603.0M），Voya Financial, Inc.净利率更高（23.2% vs -24.1%，领先47.3%），特诺控股同比增速更快（8.0% vs 7.5%），过去两年Voya Financial, Inc.的营收复合增速更高（7.8% vs -2.9%）
特诺控股是一家业务遍及全球的美国化工企业，专注于钛制品领域，现有员工约6500名。在收购南非埃萨罗资源原有的矿砂业务后，特诺已成为全球规模最大的全产业链二氧化钛颜料供应商。二氧化钛颜料主要为涂料、塑料、纸张等产品增白增亮，特诺还拥有钛矿砂开采及加工业务。
Voya Financial是总部位于美国纽约的金融服务机构，业务覆盖退休规划、投资管理及保险领域。其前身为ING集团美国运营子公司，2013年完成分拆并通过首次公开募股获得独立资金支持，2014年4月正式启用Voya Financial品牌，旗下前身机构最早在1970年代就已进入美国市场。
TROX vs VOYA — 直观对比
营收规模更大
TROX
是对方的1.2倍
$603.0M
营收增速更快
TROX
高出0.5%
7.5%
净利率更高
VOYA
高出47.3%
-24.1%
两年增速更快
VOYA
近两年复合增速
-2.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $730.0M | $603.0M |
| 净利润 | $-176.0M | $140.0M |
| 毛利率 | 5.3% | — |
| 营业利润率 | -15.6% | 28.0% |
| 净利率 | -24.1% | 23.2% |
| 营收同比 | 8.0% | 7.5% |
| 净利润同比 | -486.7% | 44.3% |
| 每股收益（稀释后） | $-1.11 | $1.41 |
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TROXVOYA
| Q4 25 | $730.0M | $603.0M | ||
| Q3 25 | $699.0M | $572.0M | ||
| Q2 25 | $731.0M | $542.0M | ||
| Q1 25 | $738.0M | $538.0M | ||
| Q4 24 | $676.0M | $561.0M | ||
| Q3 24 | $804.0M | $542.0M | ||
| Q2 24 | $820.0M | $528.0M | ||
| Q1 24 | $774.0M | $519.0M |
净利润TROXVOYA
| Q4 25 | $-176.0M | $140.0M | ||
| Q3 25 | $-99.0M | $192.0M | ||
| Q2 25 | $-84.0M | $166.0M | ||
| Q1 25 | $-111.0M | $156.0M | ||
| Q4 24 | $-30.0M | $97.0M | ||
| Q3 24 | $-25.0M | $114.0M | ||
| Q2 24 | $16.0M | $205.0M | ||
| Q1 24 | $-9.0M | $251.0M |
毛利率TROXVOYA
| Q4 25 | 5.3% | — | ||
| Q3 25 | 7.4% | — | ||
| Q2 25 | 10.8% | — | ||
| Q1 25 | 13.4% | — | ||
| Q4 24 | 17.3% | — | ||
| Q3 24 | 15.9% | — | ||
| Q2 24 | 18.3% | — | ||
| Q1 24 | 15.5% | — |
营业利润率TROXVOYA
| Q4 25 | -15.6% | 28.0% | ||
| Q3 25 | -6.2% | 53.7% | ||
| Q2 25 | -4.8% | 34.7% | ||
| Q1 25 | -8.3% | 32.2% | ||
| Q4 24 | 7.1% | 21.4% | ||
| Q3 24 | 6.7% | 21.4% | ||
| Q2 24 | 9.3% | 52.3% | ||
| Q1 24 | 5.3% | 55.3% |
净利率TROXVOYA
| Q4 25 | -24.1% | 23.2% | ||
| Q3 25 | -14.2% | 33.6% | ||
| Q2 25 | -11.5% | 30.6% | ||
| Q1 25 | -15.0% | 29.0% | ||
| Q4 24 | -4.4% | 17.3% | ||
| Q3 24 | -3.1% | 21.0% | ||
| Q2 24 | 2.0% | 38.8% | ||
| Q1 24 | -1.2% | 48.4% |
每股收益（稀释后）TROXVOYA
| Q4 25 | $-1.11 | $1.41 | ||
| Q3 25 | $-0.63 | $1.80 | ||
| Q2 25 | $-0.53 | $1.66 | ||
| Q1 25 | $-0.70 | $1.42 | ||
| Q4 24 | $-0.19 | $0.99 | ||
| Q3 24 | $-0.16 | $0.98 | ||
| Q2 24 | $0.10 | $1.96 | ||
| Q1 24 | $-0.06 | $2.24 |
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 | $199.0M | — |
| 总债务越低越好 | $3.1B | $2.1B |
| 股东权益账面价值 | $1.4B | $5.0B |
| 总资产 | $6.2B | $178.9B |
| 负债/权益比越低杠杆越低 | 2.21× | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资TROXVOYA
| Q4 25 | $199.0M | — | ||
| Q3 25 | $185.0M | — | ||
| Q2 25 | $132.0M | — | ||
| Q1 25 | $138.0M | — | ||
| Q4 24 | $151.0M | — | ||
| Q3 24 | $167.0M | — | ||
| Q2 24 | $201.0M | — | ||
| Q1 24 | $152.0M | — |
总债务TROXVOYA
| Q4 25 | $3.1B | $2.1B | ||
| Q3 25 | $3.1B | $2.1B | ||
| Q2 25 | $2.7B | $2.1B | ||
| Q1 25 | $2.8B | $2.1B | ||
| Q4 24 | $2.8B | $2.5B | ||
| Q3 24 | $2.8B | $2.5B | ||
| Q2 24 | $2.8B | $2.1B | ||
| Q1 24 | $2.8B | $2.1B |
股东权益TROXVOYA
| Q4 25 | $1.4B | $5.0B | ||
| Q3 25 | $1.6B | $5.0B | ||
| Q2 25 | $1.6B | $4.6B | ||
| Q1 25 | $1.7B | $4.4B | ||
| Q4 24 | $1.8B | $4.0B | ||
| Q3 24 | $1.9B | $4.7B | ||
| Q2 24 | $1.9B | $4.0B | ||
| Q1 24 | $1.9B | $4.2B |
总资产TROXVOYA
| Q4 25 | $6.2B | $178.9B | ||
| Q3 25 | $6.3B | $177.4B | ||
| Q2 25 | $6.2B | $172.4B | ||
| Q1 25 | $6.1B | $163.9B | ||
| Q4 24 | $6.0B | $163.9B | ||
| Q3 24 | $6.2B | $166.9B | ||
| Q2 24 | $6.1B | $161.3B | ||
| Q1 24 | $6.0B | $161.6B |
负债/权益比TROXVOYA
| Q4 25 | 2.21× | 0.42× | ||
| Q3 25 | 2.01× | 0.42× | ||
| Q2 25 | 1.67× | 0.45× | ||
| Q1 25 | 1.64× | 0.48× | ||
| Q4 24 | 1.57× | 0.62× | ||
| Q3 24 | 1.45× | 0.53× | ||
| Q2 24 | 1.47× | 0.52× | ||
| Q1 24 | 1.48× | 0.51× |
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 | $121.0M | $557.0M |
| 自由现金流经营现金流 - 资本支出 | $53.0M | — |
| 自由现金流率自由现金流/营收 | 7.3% | — |
| 资本支出强度资本支出/营收 | 9.3% | — |
| 现金转化率经营现金流/净利润 | — | 3.98× |
| 过去12个月自由现金流最近4个季度 | $-281.0M | — |
8季度趋势，按日历期对齐
经营现金流TROXVOYA
| Q4 25 | $121.0M | $557.0M | ||
| Q3 25 | $-57.0M | $168.0M | ||
| Q2 25 | $28.0M | $742.0M | ||
| Q1 25 | $-32.0M | $-179.0M | ||
| Q4 24 | $82.0M | $79.0M | ||
| Q3 24 | $87.0M | $719.0M | ||
| Q2 24 | $160.0M | $316.0M | ||
| Q1 24 | $-29.0M | $231.0M |
自由现金流TROXVOYA
| Q4 25 | $53.0M | — | ||
| Q3 25 | $-137.0M | — | ||
| Q2 25 | $-55.0M | — | ||
| Q1 25 | $-142.0M | — | ||
| Q4 24 | $-35.0M | — | ||
| Q3 24 | $-14.0M | — | ||
| Q2 24 | $84.0M | — | ||
| Q1 24 | $-105.0M | — |
自由现金流率TROXVOYA
| Q4 25 | 7.3% | — | ||
| Q3 25 | -19.6% | — | ||
| Q2 25 | -7.5% | — | ||
| Q1 25 | -19.2% | — | ||
| Q4 24 | -5.2% | — | ||
| Q3 24 | -1.7% | — | ||
| Q2 24 | 10.2% | — | ||
| Q1 24 | -13.6% | — |
资本支出强度TROXVOYA
| Q4 25 | 9.3% | — | ||
| Q3 25 | 11.4% | — | ||
| Q2 25 | 11.4% | — | ||
| Q1 25 | 14.9% | — | ||
| Q4 24 | 17.3% | — | ||
| Q3 24 | 12.6% | — | ||
| Q2 24 | 9.3% | — | ||
| Q1 24 | 9.8% | — |
现金转化率TROXVOYA
| Q4 25 | — | 3.98× | ||
| Q3 25 | — | 0.88× | ||
| Q2 25 | — | 4.47× | ||
| Q1 25 | — | -1.15× | ||
| Q4 24 | — | 0.81× | ||
| Q3 24 | — | 6.31× | ||
| Q2 24 | 10.00× | 1.54× | ||
| Q1 24 | — | 0.92× |
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
TROX
| Ti O2 | $577.0M | 79% |
| Zircon | $78.0M | 11% |
| Idle Facility And Lower Of Cost Or Net Realizable Value Charges | $42.0M | 6% |
| Other | $20.0M | 3% |
| MGT | $13.0M | 2% |
VOYA
| Other | $295.0M | 49% |
| Investment Management Segment | $274.0M | 45% |
| Distribution Fees Member | $34.0M | 6% |
