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旅行者集团（TRV）与泰森食品（TSN）财务数据对比。点击上方公司名可切换其他公司
泰森食品的季度营收约是旅行者集团的1.2倍（$14.3B vs $12.4B），旅行者集团净利率更高（20.1% vs 0.6%，领先19.5%），泰森食品同比增速更快（5.1% vs 3.5%），过去两年旅行者集团的营收复合增速更高（5.2% vs 4.6%）
旅行者集团是美国跨国保险企业，为美国第二大商业财产及意外伤害保险承保商，同时是美国第六大通过独立代理人展业的个人保险提供商。公司注册地为明尼苏达州，总部设于纽约市，最大办事处在康涅狄格州哈特福德，2009年6月8日起成为道琼斯工业平均指数成分股。
泰森食品是总部位于美国阿肯色州斯普林代尔的跨国食品企业，是仅次于JBS的全球第二大鸡肉、牛肉、猪肉加工销售商，同时是美国规模最大的肉类企业，常年位居美国牛肉出口占比首位，旗下运营泰森、Jimmy Dean、Hillshire Farm等多个知名食品品牌。
TRV vs TSN — 直观对比
营收规模更大
TSN
是对方的1.2倍
$12.4B
营收增速更快
TSN
高出1.5%
3.5%
净利率更高
TRV
高出19.5%
0.6%
两年增速更快
TRV
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $12.4B | $14.3B |
| 净利润 | $2.5B | $85.0M |
| 毛利率 | — | 5.6% |
| 营业利润率 | 25.0% | 2.1% |
| 净利率 | 20.1% | 0.6% |
| 营收同比 | 3.5% | 5.1% |
| 净利润同比 | 19.9% | -76.3% |
| 每股收益（稀释后） | $10.96 | $0.24 |
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TRVTSN
| Q4 25 | $12.4B | $14.3B | ||
| Q3 25 | $12.5B | $13.9B | ||
| Q2 25 | $12.1B | $13.9B | ||
| Q1 25 | $11.8B | $13.1B | ||
| Q4 24 | $12.0B | $13.6B | ||
| Q3 24 | $11.9B | $13.6B | ||
| Q2 24 | $11.3B | $13.4B | ||
| Q1 24 | $11.2B | $13.1B |
净利润TRVTSN
| Q4 25 | $2.5B | $85.0M | ||
| Q3 25 | $1.9B | $47.0M | ||
| Q2 25 | $1.5B | $61.0M | ||
| Q1 25 | $395.0M | $7.0M | ||
| Q4 24 | $2.1B | $359.0M | ||
| Q3 24 | $1.3B | $357.0M | ||
| Q2 24 | $534.0M | $191.0M | ||
| Q1 24 | $1.1B | $145.0M |
毛利率TRVTSN
| Q4 25 | — | 5.6% | ||
| Q3 25 | — | 5.2% | ||
| Q2 25 | — | 8.2% | ||
| Q1 25 | — | 4.6% | ||
| Q4 24 | — | 8.0% | ||
| Q3 24 | — | 7.8% | ||
| Q2 24 | — | 6.6% | ||
| Q1 24 | — | 6.6% |
营业利润率TRVTSN
| Q4 25 | 25.0% | 2.1% | ||
| Q3 25 | 18.8% | 1.1% | ||
| Q2 25 | 15.5% | 1.9% | ||
| Q1 25 | 4.0% | 0.8% | ||
| Q4 24 | 21.6% | 4.3% | ||
| Q3 24 | 13.1% | 3.9% | ||
| Q2 24 | 5.8% | 2.6% | ||
| Q1 24 | 12.2% | 2.4% |
净利率TRVTSN
| Q4 25 | 20.1% | 0.6% | ||
| Q3 25 | 15.1% | 0.3% | ||
| Q2 25 | 12.5% | 0.4% | ||
| Q1 25 | 3.3% | 0.1% | ||
| Q4 24 | 17.3% | 2.6% | ||
| Q3 24 | 10.6% | 2.6% | ||
| Q2 24 | 4.7% | 1.4% | ||
| Q1 24 | 10.0% | 1.1% |
每股收益（稀释后）TRVTSN
| Q4 25 | $10.96 | $0.24 | ||
| Q3 25 | $8.24 | $0.13 | ||
| Q2 25 | $6.53 | $0.17 | ||
| Q1 25 | $1.70 | $0.02 | ||
| Q4 24 | $8.96 | $1.01 | ||
| Q3 24 | $5.42 | $1.00 | ||
| Q2 24 | $2.29 | $0.54 | ||
| Q1 24 | $4.80 | $0.41 |
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 | — | $1.3B |
| 总债务越低越好 | — | $7.5B |
| 股东权益账面价值 | $32.9B | $18.0B |
| 总资产 | $143.7B | $36.0B |
| 负债/权益比越低杠杆越低 | — | 0.41× |
8季度趋势，按日历期对齐
现金及短期投资TRVTSN
| Q4 25 | — | $1.3B | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $992.0M | ||
| Q4 24 | — | $2.3B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $2.6B | ||
| Q1 24 | — | $2.2B |
总债务TRVTSN
| Q4 25 | — | $7.5B | ||
| Q3 25 | — | $7.9B | ||
| Q2 25 | — | $8.2B | ||
| Q1 25 | — | $8.2B | ||
| Q4 24 | — | $9.7B | ||
| Q3 24 | — | $9.7B | ||
| Q2 24 | — | $9.7B | ||
| Q1 24 | — | $9.6B |
股东权益TRVTSN
| Q4 25 | $32.9B | $18.0B | ||
| Q3 25 | $31.6B | $18.1B | ||
| Q2 25 | $29.5B | $18.3B | ||
| Q1 25 | $28.2B | $18.4B | ||
| Q4 24 | $27.9B | $18.5B | ||
| Q3 24 | $27.7B | $18.4B | ||
| Q2 24 | $24.9B | $18.1B | ||
| Q1 24 | $25.0B | $18.1B |
总资产TRVTSN
| Q4 25 | $143.7B | $36.0B | ||
| Q3 25 | $143.7B | $36.7B | ||
| Q2 25 | $138.9B | $36.5B | ||
| Q1 25 | $136.0B | $36.3B | ||
| Q4 24 | $133.2B | $37.3B | ||
| Q3 24 | $134.6B | $37.1B | ||
| Q2 24 | $129.3B | $37.7B | ||
| Q1 24 | $127.4B | $37.5B |
负债/权益比TRVTSN
| Q4 25 | — | 0.41× | ||
| Q3 25 | — | 0.44× | ||
| Q2 25 | — | 0.45× | ||
| Q1 25 | — | 0.44× | ||
| Q4 24 | — | 0.52× | ||
| Q3 24 | — | 0.53× | ||
| Q2 24 | — | 0.54× | ||
| Q1 24 | — | 0.53× |
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 | $2.7B | $942.0M |
| 自由现金流经营现金流 - 资本支出 | — | $690.0M |
| 自由现金流率自由现金流/营收 | — | 4.8% |
| 资本支出强度资本支出/营收 | — | 1.8% |
| 现金转化率经营现金流/净利润 | 1.08× | 11.08× |
| 过去12个月自由现金流最近4个季度 | — | $1.1B |
8季度趋势，按日历期对齐
经营现金流TRVTSN
| Q4 25 | $2.7B | $942.0M | ||
| Q3 25 | $4.2B | $535.0M | ||
| Q2 25 | $2.3B | $774.0M | ||
| Q1 25 | $1.4B | $-185.0M | ||
| Q4 24 | $2.1B | $1.0B | ||
| Q3 24 | $3.9B | $617.0M | ||
| Q2 24 | $1.7B | $796.0M | ||
| Q1 24 | $1.5B | $-123.0M |
自由现金流TRVTSN
| Q4 25 | — | $690.0M | ||
| Q3 25 | — | $248.0M | ||
| Q2 25 | — | $547.0M | ||
| Q1 25 | — | $-378.0M | ||
| Q4 24 | — | $760.0M | ||
| Q3 24 | — | $369.0M | ||
| Q2 24 | — | $533.0M | ||
| Q1 24 | — | $-390.0M |
自由现金流率TRVTSN
| Q4 25 | — | 4.8% | ||
| Q3 25 | — | 1.8% | ||
| Q2 25 | — | 3.9% | ||
| Q1 25 | — | -2.9% | ||
| Q4 24 | — | 5.6% | ||
| Q3 24 | — | 2.7% | ||
| Q2 24 | — | 4.0% | ||
| Q1 24 | — | -3.0% |
资本支出强度TRVTSN
| Q4 25 | — | 1.8% | ||
| Q3 25 | — | 2.1% | ||
| Q2 25 | — | 1.6% | ||
| Q1 25 | — | 1.5% | ||
| Q4 24 | — | 2.0% | ||
| Q3 24 | — | 1.8% | ||
| Q2 24 | — | 2.0% | ||
| Q1 24 | — | 2.0% |
现金转化率TRVTSN
| Q4 25 | 1.08× | 11.08× | ||
| Q3 25 | 2.24× | 11.38× | ||
| Q2 25 | 1.55× | 12.69× | ||
| Q1 25 | 3.44× | -26.43× | ||
| Q4 24 | 0.99× | 2.87× | ||
| Q3 24 | 3.08× | 1.73× | ||
| Q2 24 | 3.14× | 4.17× | ||
| Q1 24 | 1.30× | -0.85× |
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
TRV
| Business And International Insurance | $6.6B | 53% |
| Personal Insurance | $4.6B | 37% |
| Bond And Specialty Insurance | $1.2B | 9% |
TSN
| Beef | $5.8B | 40% |
| Retail Sales Channel | $2.9B | 20% |
| Pork | $1.6B | 11% |
| Foodservice Sales Channel | $1.6B | 11% |
| Other | $776.0M | 5% |
| Industrialand Other Sales Channel | $575.0M | 4% |
| International Sales Channel | $542.0M | 4% |
| Intersegment Revenues | $534.0M | 4% |
