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美国合众银行（USB）与惠而浦（WHR）财务数据对比。点击上方公司名可切换其他公司
美国合众银行的季度营收约是惠而浦的1.8倍（$7.4B vs $4.1B），美国合众银行净利率更高（27.8% vs 2.7%，领先25.1%），美国合众银行同比增速更快（5.1% vs -0.9%），过去两年美国合众银行的营收复合增速更高（4.7% vs -4.5%）
美国合众银行是美国跨国银行机构，总部位于明尼苏达州明尼阿波利斯，在特拉华州注册成立。截至2025年为美国第五大银行，也是美国中西部规模最大的银行，被金融稳定委员会认定为系统重要性机构，旗下核心运营主体提供银行、投资、按揭等多元金融服务。
惠而浦是总部位于美国密歇根州本顿特许镇的跨国家电研发、生产及销售企业，位列《财富》世界500强。2023年集团年销售额约190亿美元，全球员工规模近5.9万人，在世界各地布局超55座生产及技术研发中心。
USB vs WHR — 直观对比
营收规模更大
USB
是对方的1.8倍
$4.1B
营收增速更快
USB
高出6.0%
-0.9%
净利率更高
USB
高出25.1%
2.7%
两年增速更快
USB
近两年复合增速
-4.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $7.4B | $4.1B |
| 净利润 | $2.0B | $109.0M |
| 毛利率 | — | 14.0% |
| 营业利润率 | 34.4% | 6.0% |
| 净利率 | 27.8% | 2.7% |
| 营收同比 | 5.1% | -0.9% |
| 净利润同比 | 23.0% | 127.8% |
| 每股收益（稀释后） | $1.26 | $1.92 |
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USBWHR
| Q4 25 | $7.4B | $4.1B | ||
| Q3 25 | $7.3B | $4.0B | ||
| Q2 25 | $7.0B | $3.8B | ||
| Q1 25 | $7.0B | $3.6B | ||
| Q4 24 | $7.0B | $4.1B | ||
| Q3 24 | $6.9B | $4.0B | ||
| Q2 24 | $6.9B | $4.0B | ||
| Q1 24 | $6.7B | $4.5B |
净利润USBWHR
| Q4 25 | $2.0B | $109.0M | ||
| Q3 25 | $2.0B | $73.0M | ||
| Q2 25 | $1.8B | $65.0M | ||
| Q1 25 | $1.7B | $71.0M | ||
| Q4 24 | $1.7B | $-392.0M | ||
| Q3 24 | $1.7B | $109.0M | ||
| Q2 24 | $1.6B | $219.0M | ||
| Q1 24 | $1.3B | $-259.0M |
毛利率USBWHR
| Q4 25 | — | 14.0% | ||
| Q3 25 | — | 14.7% | ||
| Q2 25 | — | 16.2% | ||
| Q1 25 | — | 16.8% | ||
| Q4 24 | — | 16.2% | ||
| Q3 24 | — | 16.1% | ||
| Q2 24 | — | 15.7% | ||
| Q1 24 | — | 14.3% |
营业利润率USBWHR
| Q4 25 | 34.4% | 6.0% | ||
| Q3 25 | 34.5% | 5.1% | ||
| Q2 25 | 32.7% | 5.4% | ||
| Q1 25 | 31.0% | 5.1% | ||
| Q4 24 | 30.1% | -3.3% | ||
| Q3 24 | 30.2% | 6.6% | ||
| Q2 24 | 29.9% | 3.3% | ||
| Q1 24 | 24.9% | -2.6% |
净利率USBWHR
| Q4 25 | 27.8% | 2.7% | ||
| Q3 25 | 27.3% | 1.8% | ||
| Q2 25 | 25.9% | 1.7% | ||
| Q1 25 | 24.6% | 2.0% | ||
| Q4 24 | 23.7% | -9.5% | ||
| Q3 24 | 25.0% | 2.7% | ||
| Q2 24 | 23.3% | 5.5% | ||
| Q1 24 | 19.6% | -5.8% |
每股收益（稀释后）USBWHR
| Q4 25 | $1.26 | $1.92 | ||
| Q3 25 | $1.22 | $1.29 | ||
| Q2 25 | $1.11 | $1.17 | ||
| Q1 25 | $1.03 | $1.28 | ||
| Q4 24 | $1.01 | $-7.11 | ||
| Q3 24 | $1.03 | $2.00 | ||
| Q2 24 | $0.97 | $3.96 | ||
| Q1 24 | $0.78 | $-4.72 |
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 | — | $669.0M |
| 总债务越低越好 | — | $6.2B |
| 股东权益账面价值 | $65.2B | $2.7B |
| 总资产 | $692.3B | $16.0B |
| 负债/权益比越低杠杆越低 | — | 2.26× |
8季度趋势，按日历期对齐
现金及短期投资USBWHR
| Q4 25 | — | $669.0M | ||
| Q3 25 | — | $934.0M | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | $1.0B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $1.2B |
总债务USBWHR
| Q4 25 | — | $6.2B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $6.6B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益USBWHR
| Q4 25 | $65.2B | $2.7B | ||
| Q3 25 | $63.3B | $2.6B | ||
| Q2 25 | $61.4B | $2.6B | ||
| Q1 25 | $60.1B | $2.6B | ||
| Q4 24 | $58.6B | $2.7B | ||
| Q3 24 | $58.9B | $3.0B | ||
| Q2 24 | $56.4B | $3.1B | ||
| Q1 24 | $55.6B | $2.4B |
总资产USBWHR
| Q4 25 | $692.3B | $16.0B | ||
| Q3 25 | $695.4B | $16.9B | ||
| Q2 25 | $686.4B | $16.8B | ||
| Q1 25 | $676.5B | $16.5B | ||
| Q4 24 | $678.3B | $16.3B | ||
| Q3 24 | $686.5B | $17.2B | ||
| Q2 24 | $680.1B | $17.3B | ||
| Q1 24 | $683.6B | $17.4B |
负债/权益比USBWHR
| Q4 25 | — | 2.26× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 2.46× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $2.8B | $1.1B |
| 自由现金流经营现金流 - 资本支出 | — | $989.0M |
| 自由现金流率自由现金流/营收 | — | 24.1% |
| 资本支出强度资本支出/营收 | — | 3.7% |
| 现金转化率经营现金流/净利润 | 1.39× | 10.45× |
| 过去12个月自由现金流最近4个季度 | — | $81.0M |
8季度趋势，按日历期对齐
经营现金流USBWHR
| Q4 25 | $2.8B | $1.1B | ||
| Q3 25 | $3.4B | $33.0M | ||
| Q2 25 | $2.0B | $19.0M | ||
| Q1 25 | $-285.0M | $-721.0M | ||
| Q4 24 | $4.8B | $1.1B | ||
| Q3 24 | $972.0M | $214.0M | ||
| Q2 24 | $2.9B | $388.0M | ||
| Q1 24 | $2.7B | $-873.0M |
自由现金流USBWHR
| Q4 25 | — | $989.0M | ||
| Q3 25 | — | $-52.0M | ||
| Q2 25 | — | $-63.0M | ||
| Q1 25 | — | $-793.0M | ||
| Q4 24 | — | $970.0M | ||
| Q3 24 | — | $127.0M | ||
| Q2 24 | — | $275.0M | ||
| Q1 24 | — | $-988.0M |
自由现金流率USBWHR
| Q4 25 | — | 24.1% | ||
| Q3 25 | — | -1.3% | ||
| Q2 25 | — | -1.7% | ||
| Q1 25 | — | -21.9% | ||
| Q4 24 | — | 23.5% | ||
| Q3 24 | — | 3.2% | ||
| Q2 24 | — | 6.9% | ||
| Q1 24 | — | -22.0% |
资本支出强度USBWHR
| Q4 25 | — | 3.7% | ||
| Q3 25 | — | 2.1% | ||
| Q2 25 | — | 2.2% | ||
| Q1 25 | — | 2.0% | ||
| Q4 24 | — | 3.3% | ||
| Q3 24 | — | 2.2% | ||
| Q2 24 | — | 2.8% | ||
| Q1 24 | — | 2.6% |
现金转化率USBWHR
| Q4 25 | 1.39× | 10.45× | ||
| Q3 25 | 1.69× | 0.45× | ||
| Q2 25 | 1.12× | 0.29× | ||
| Q1 25 | -0.17× | -10.15× | ||
| Q4 24 | 2.87× | — | ||
| Q3 24 | 0.57× | 1.96× | ||
| Q2 24 | 1.79× | 1.77× | ||
| Q1 24 | 2.02× | — |
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
USB
暂无分部数据
WHR
| Refrigeration | $1.2B | 30% |
| Laundry | $1.1B | 27% |
| Cooking | $1.1B | 26% |
| Dishwashing | $299.0M | 7% |
| Other | $266.0M | 6% |
| Spare Parts And Warranties | $139.0M | 3% |
