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UNITED NATURAL FOODS INC（UNFI）与联合太平洋（UNP）财务数据对比。点击上方公司名可切换其他公司
UNITED NATURAL FOODS INC的季度营收约是联合太平洋的1.3倍（$7.8B vs $6.2B），联合太平洋净利率更高（27.4% vs -0.1%，领先27.4%），联合太平洋同比增速更快（3.2% vs -0.4%），联合太平洋自由现金流更多（$631.0M vs $-54.0M），过去两年联合太平洋的营收复合增速更高（1.7% vs 0.4%）
联合天然食品公司（UNFI）总部位于美国罗德岛州普罗维登斯，是北美知名的天然有机食品企业，也是美国和加拿大规模最大的上市健康及特色食品批发经销商，是全食超市的核心供应商，2018年来自全食的业务收入占其总营收的三分之一以上。
联合太平洋是美国一级货运铁路运营商，共运营8300台机车，线路总长超5.18万公里，覆盖芝加哥、新奥尔良以西的23个美国州，是全美规模仅次于BNSF的第二大铁路企业。
UNFI vs UNP — 直观对比
营收规模更大
UNFI
是对方的1.3倍
$6.2B
营收增速更快
UNP
高出3.5%
-0.4%
净利率更高
UNP
高出27.4%
-0.1%
自由现金流更多
UNP
多$685.0M
$-54.0M
两年增速更快
UNP
近两年复合增速
0.4%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $7.8B | $6.2B |
| 净利润 | $-4.0M | $1.7B |
| 毛利率 | 13.4% | — |
| 营业利润率 | 0.2% | 39.5% |
| 净利率 | -0.1% | 27.4% |
| 营收同比 | -0.4% | 3.2% |
| 净利润同比 | 81.0% | 4.6% |
| 每股收益（稀释后） | $-0.06 | $2.87 |
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UNFIUNP
| Q1 26 | — | $6.2B | ||
| Q4 25 | $7.8B | $6.1B | ||
| Q3 25 | $7.7B | $6.2B | ||
| Q2 25 | $8.1B | $6.2B | ||
| Q1 25 | $8.2B | $6.0B | ||
| Q4 24 | $7.9B | $6.1B | ||
| Q3 24 | $8.2B | $6.1B | ||
| Q2 24 | $7.5B | $6.0B |
净利润UNFIUNP
| Q1 26 | — | $1.7B | ||
| Q4 25 | $-4.0M | $1.8B | ||
| Q3 25 | $-87.0M | $1.8B | ||
| Q2 25 | $-7.0M | $1.9B | ||
| Q1 25 | $-3.0M | $1.6B | ||
| Q4 24 | $-21.0M | $1.8B | ||
| Q3 24 | $-37.0M | $1.7B | ||
| Q2 24 | $-21.0M | $1.7B |
毛利率UNFIUNP
| Q1 26 | — | — | ||
| Q4 25 | 13.4% | — | ||
| Q3 25 | 13.4% | — | ||
| Q2 25 | 13.4% | — | ||
| Q1 25 | 13.1% | — | ||
| Q4 24 | 13.2% | — | ||
| Q3 24 | 13.7% | — | ||
| Q2 24 | 13.6% | — |
营业利润率UNFIUNP
| Q1 26 | — | 39.5% | ||
| Q4 25 | 0.2% | 39.5% | ||
| Q3 25 | -1.0% | 40.8% | ||
| Q2 25 | 0.2% | 41.0% | ||
| Q1 25 | 0.3% | 39.3% | ||
| Q4 24 | 0.1% | 41.3% | ||
| Q3 24 | 0.0% | 39.7% | ||
| Q2 24 | 0.1% | 40.0% |
净利率UNFIUNP
| Q1 26 | — | 27.4% | ||
| Q4 25 | -0.1% | 30.4% | ||
| Q3 25 | -1.1% | 28.6% | ||
| Q2 25 | -0.1% | 30.5% | ||
| Q1 25 | -0.0% | 27.0% | ||
| Q4 24 | -0.3% | 28.8% | ||
| Q3 24 | -0.5% | 27.4% | ||
| Q2 24 | -0.3% | 27.9% |
每股收益（稀释后）UNFIUNP
| Q1 26 | — | $2.87 | ||
| Q4 25 | $-0.06 | $3.12 | ||
| Q3 25 | $-1.43 | $3.01 | ||
| Q2 25 | $-0.12 | $3.15 | ||
| Q1 25 | $-0.05 | $2.70 | ||
| Q4 24 | $-0.35 | $2.91 | ||
| Q3 24 | $-0.63 | $2.75 | ||
| Q2 24 | $-0.34 | $2.74 |
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 | $38.0M | $735.0M |
| 总债务越低越好 | $1.9B | — |
| 股东权益账面价值 | $1.5B | — |
| 总资产 | $7.6B | $69.6B |
| 负债/权益比越低杠杆越低 | 1.24× | — |
8季度趋势，按日历期对齐
现金及短期投资UNFIUNP
| Q1 26 | — | $735.0M | ||
| Q4 25 | $38.0M | $1.3B | ||
| Q3 25 | $44.0M | $808.0M | ||
| Q2 25 | $52.0M | $1.1B | ||
| Q1 25 | $44.0M | $1.4B | ||
| Q4 24 | $37.0M | $1.0B | ||
| Q3 24 | $40.0M | $947.0M | ||
| Q2 24 | $39.0M | $1.1B |
总债务UNFIUNP
| Q1 26 | — | — | ||
| Q4 25 | $1.9B | $30.3B | ||
| Q3 25 | $1.9B | $30.3B | ||
| Q2 25 | $2.0B | $30.3B | ||
| Q1 25 | $2.1B | $30.6B | ||
| Q4 24 | $2.2B | $29.8B | ||
| Q3 24 | $2.1B | $29.8B | ||
| Q2 24 | $2.1B | $31.2B |
股东权益UNFIUNP
| Q1 26 | — | — | ||
| Q4 25 | $1.5B | $18.5B | ||
| Q3 25 | $1.6B | $17.3B | ||
| Q2 25 | $1.6B | $16.3B | ||
| Q1 25 | $1.6B | $16.0B | ||
| Q4 24 | $1.6B | $16.9B | ||
| Q3 24 | $1.6B | $16.6B | ||
| Q2 24 | $1.7B | $16.5B |
总资产UNFIUNP
| Q1 26 | — | $69.6B | ||
| Q4 25 | $7.6B | $69.7B | ||
| Q3 25 | $7.6B | $68.6B | ||
| Q2 25 | $7.6B | $68.6B | ||
| Q1 25 | $7.7B | $68.5B | ||
| Q4 24 | $8.0B | $67.7B | ||
| Q3 24 | $7.5B | $67.6B | ||
| Q2 24 | $7.6B | $67.8B |
负债/权益比UNFIUNP
| Q1 26 | — | — | ||
| Q4 25 | 1.24× | 1.64× | ||
| Q3 25 | 1.20× | 1.75× | ||
| Q2 25 | 1.21× | 1.86× | ||
| Q1 25 | 1.27× | 1.91× | ||
| Q4 24 | 1.38× | 1.76× | ||
| Q3 24 | 1.27× | 1.79× | ||
| Q2 24 | 1.28× | 1.89× |
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 | $-38.0M | — |
| 自由现金流经营现金流 - 资本支出 | $-54.0M | $631.0M |
| 自由现金流率自由现金流/营收 | -0.7% | 10.1% |
| 资本支出强度资本支出/营收 | 0.2% | — |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $344.0M | $4.8B |
8季度趋势，按日历期对齐
经营现金流UNFIUNP
| Q1 26 | — | — | ||
| Q4 25 | $-38.0M | $2.2B | ||
| Q3 25 | $160.0M | $2.5B | ||
| Q2 25 | $173.0M | $2.3B | ||
| Q1 25 | $247.0M | $2.2B | ||
| Q4 24 | $-110.0M | $2.7B | ||
| Q3 24 | $199.0M | $2.7B | ||
| Q2 24 | $125.0M | $1.9B |
自由现金流UNFIUNP
| Q1 26 | — | $631.0M | ||
| Q4 25 | $-54.0M | $1.2B | ||
| Q3 25 | $86.0M | $1.6B | ||
| Q2 25 | $119.0M | $1.4B | ||
| Q1 25 | $193.0M | $1.3B | ||
| Q4 24 | $-159.0M | $1.7B | ||
| Q3 24 | $71.0M | $1.8B | ||
| Q2 24 | $49.0M | $1.0B |
自由现金流率UNFIUNP
| Q1 26 | — | 10.1% | ||
| Q4 25 | -0.7% | 20.1% | ||
| Q3 25 | 1.1% | 25.2% | ||
| Q2 25 | 1.5% | 22.7% | ||
| Q1 25 | 2.4% | 21.6% | ||
| Q4 24 | -2.0% | 28.4% | ||
| Q3 24 | 0.9% | 29.9% | ||
| Q2 24 | 0.7% | 16.8% |
资本支出强度UNFIUNP
| Q1 26 | — | — | ||
| Q4 25 | 0.2% | 16.4% | ||
| Q3 25 | 1.0% | 15.2% | ||
| Q2 25 | 0.7% | 15.2% | ||
| Q1 25 | 0.7% | 15.0% | ||
| Q4 24 | 0.6% | 15.1% | ||
| Q3 24 | 1.6% | 13.6% | ||
| Q2 24 | 1.0% | 15.0% |
现金转化率UNFIUNP
| Q1 26 | — | — | ||
| Q4 25 | — | 1.20× | ||
| Q3 25 | — | 1.41× | ||
| Q2 25 | — | 1.24× | ||
| Q1 25 | — | 1.36× | ||
| Q4 24 | — | 1.51× | ||
| Q3 24 | — | 1.59× | ||
| Q2 24 | — | 1.14× |
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
UNFI
| Natural Segment | $4.3B | 55% |
| Conventional Segment | $3.1B | 40% |
| Retail Segment | $560.0M | 7% |
UNP
| Freight revenues | $5.9B | 95% |
| Other revenues | $324.0M | 5% |
