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US Foods Holding Corp.（USFD）与维萨（V）财务数据对比。点击上方公司名可切换其他公司
维萨的季度营收约是US Foods Holding Corp.的1.1倍（$11.2B vs $9.8B），维萨净利率更高（53.4% vs 1.9%，领先51.6%），维萨同比增速更快（17.0% vs 3.3%），过去两年维萨的营收复合增速更高（12.3% vs 4.6%）
US Foods Holding Corp.是美国第二大食品服务分销商，规模仅次于Sysco。公司服务覆盖独立餐厅、连锁餐饮、医疗保健、酒店、教育机构等共计25万个场点，为各类客户提供食品配送及相关供应链服务，业务覆盖场景十分多元。
维萨（Visa Inc.）是总部位于美国加利福尼亚州旧金山的跨国支付卡服务企业，业务覆盖全球电子资金转账领域，旗下拥有Visa品牌的信用卡、借记卡、预付卡等多条产品线，为全球消费者及商户提供安全便捷的电子支付解决方案。
USFD vs V — 直观对比
营收规模更大
V
是对方的1.1倍
$9.8B
营收增速更快
V
高出13.7%
3.3%
净利率更高
V
高出51.6%
1.9%
两年增速更快
V
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $9.8B | $11.2B |
| 净利润 | $184.0M | $6.0B |
| 毛利率 | 17.6% | — |
| 营业利润率 | 3.3% | 64.4% |
| 净利率 | 1.9% | 53.4% |
| 营收同比 | 3.3% | 17.0% |
| 净利润同比 | 178.8% | 32.0% |
| 每股收益（稀释后） | $0.82 | — |
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USFDV
| Q2 26 | — | $11.2B | ||
| Q4 25 | $9.8B | $10.9B | ||
| Q3 25 | $10.2B | $10.7B | ||
| Q2 25 | $10.1B | $10.2B | ||
| Q1 25 | $9.4B | $9.6B | ||
| Q4 24 | $9.5B | $9.5B | ||
| Q3 24 | $9.7B | $9.6B | ||
| Q2 24 | $9.7B | $8.9B |
净利润USFDV
| Q2 26 | — | $6.0B | ||
| Q4 25 | $184.0M | $5.9B | ||
| Q3 25 | $153.0M | $5.1B | ||
| Q2 25 | $224.0M | $5.3B | ||
| Q1 25 | $115.0M | $4.6B | ||
| Q4 24 | $66.0M | $5.1B | ||
| Q3 24 | $148.0M | $5.3B | ||
| Q2 24 | $198.0M | $4.9B |
毛利率USFDV
| Q2 26 | — | — | ||
| Q4 25 | 17.6% | — | ||
| Q3 25 | 17.2% | — | ||
| Q2 25 | 17.6% | — | ||
| Q1 25 | 17.3% | — | ||
| Q4 24 | 17.6% | — | ||
| Q3 24 | 17.1% | — | ||
| Q2 24 | 17.6% | — |
营业利润率USFDV
| Q2 26 | — | 64.4% | ||
| Q4 25 | 3.3% | 61.8% | ||
| Q3 25 | 2.8% | 57.3% | ||
| Q2 25 | 3.7% | 60.7% | ||
| Q1 25 | 2.4% | 56.6% | ||
| Q4 24 | 3.2% | 65.6% | ||
| Q3 24 | 2.9% | 66.0% | ||
| Q2 24 | 3.6% | 66.7% |
净利率USFDV
| Q2 26 | — | 53.4% | ||
| Q4 25 | 1.9% | 53.7% | ||
| Q3 25 | 1.5% | 47.5% | ||
| Q2 25 | 2.2% | 51.8% | ||
| Q1 25 | 1.2% | 47.7% | ||
| Q4 24 | 0.7% | 53.8% | ||
| Q3 24 | 1.5% | 55.3% | ||
| Q2 24 | 2.0% | 54.7% |
每股收益（稀释后）USFDV
| Q2 26 | — | — | ||
| Q4 25 | $0.82 | — | ||
| Q3 25 | $0.67 | — | ||
| Q2 25 | $0.96 | — | ||
| Q1 25 | $0.49 | — | ||
| Q4 24 | $0.28 | — | ||
| Q3 24 | $0.61 | — | ||
| Q2 24 | $0.80 | — |
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 | $41.0M | $12.4B |
| 总债务越低越好 | $5.1B | $22.4B |
| 股东权益账面价值 | $4.3B | $35.7B |
| 总资产 | $13.9B | $95.0B |
| 负债/权益比越低杠杆越低 | 1.18× | 0.63× |
8季度趋势，按日历期对齐
现金及短期投资USFDV
| Q2 26 | — | $12.4B | ||
| Q4 25 | $41.0M | $14.8B | ||
| Q3 25 | $56.0M | $17.2B | ||
| Q2 25 | $61.0M | $17.1B | ||
| Q1 25 | $101.0M | $11.7B | ||
| Q4 24 | $59.0M | $12.4B | ||
| Q3 24 | $81.0M | $12.0B | ||
| Q2 24 | $405.0M | $12.9B |
总债务USFDV
| Q2 26 | — | $22.4B | ||
| Q4 25 | $5.1B | — | ||
| Q3 25 | $4.8B | — | ||
| Q2 25 | $4.7B | — | ||
| Q1 25 | $4.7B | — | ||
| Q4 24 | $4.8B | — | ||
| Q3 24 | $4.7B | — | ||
| Q2 24 | $4.6B | — |
股东权益USFDV
| Q2 26 | — | $35.7B | ||
| Q4 25 | $4.3B | $38.8B | ||
| Q3 25 | $4.5B | $37.9B | ||
| Q2 25 | $4.6B | $38.7B | ||
| Q1 25 | $4.6B | $38.0B | ||
| Q4 24 | $4.5B | $38.3B | ||
| Q3 24 | $4.6B | $39.1B | ||
| Q2 24 | $5.0B | $39.7B |
总资产USFDV
| Q2 26 | — | $95.0B | ||
| Q4 25 | $13.9B | $96.8B | ||
| Q3 25 | $14.0B | $99.6B | ||
| Q2 25 | $13.8B | $100.0B | ||
| Q1 25 | $13.7B | $92.9B | ||
| Q4 24 | $13.4B | $91.9B | ||
| Q3 24 | $13.5B | $94.5B | ||
| Q2 24 | $13.7B | $91.0B |
负债/权益比USFDV
| Q2 26 | — | 0.63× | ||
| Q4 25 | 1.18× | — | ||
| Q3 25 | 1.08× | — | ||
| Q2 25 | 1.02× | — | ||
| Q1 25 | 1.02× | — | ||
| Q4 24 | 1.06× | — | ||
| Q3 24 | 1.01× | — | ||
| Q2 24 | 0.92× | — |
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 | $293.0M | — |
| 自由现金流经营现金流 - 资本支出 | $159.0M | — |
| 自由现金流率自由现金流/营收 | 1.6% | — |
| 资本支出强度资本支出/营收 | 1.4% | — |
| 现金转化率经营现金流/净利润 | 1.59× | — |
| 过去12个月自由现金流最近4个季度 | $959.0M | — |
8季度趋势，按日历期对齐
经营现金流USFDV
| Q2 26 | — | — | ||
| Q4 25 | $293.0M | $6.8B | ||
| Q3 25 | $351.0M | $6.2B | ||
| Q2 25 | $334.0M | $6.7B | ||
| Q1 25 | $391.0M | $4.7B | ||
| Q4 24 | $283.0M | $5.4B | ||
| Q3 24 | $270.0M | $6.7B | ||
| Q2 24 | $482.0M | $5.1B |
自由现金流USFDV
| Q2 26 | — | — | ||
| Q4 25 | $159.0M | $6.4B | ||
| Q3 25 | $236.0M | $5.8B | ||
| Q2 25 | $257.0M | $6.3B | ||
| Q1 25 | $307.0M | $4.4B | ||
| Q4 24 | $178.0M | $5.1B | ||
| Q3 24 | $190.0M | $6.4B | ||
| Q2 24 | $413.0M | $4.7B |
自由现金流率USFDV
| Q2 26 | — | — | ||
| Q4 25 | 1.6% | 58.7% | ||
| Q3 25 | 2.3% | 54.5% | ||
| Q2 25 | 2.5% | 62.0% | ||
| Q1 25 | 3.3% | 45.5% | ||
| Q4 24 | 1.9% | 53.1% | ||
| Q3 24 | 2.0% | 66.1% | ||
| Q2 24 | 4.3% | 53.2% |
资本支出强度USFDV
| Q2 26 | — | — | ||
| Q4 25 | 1.4% | 3.5% | ||
| Q3 25 | 1.1% | 3.6% | ||
| Q2 25 | 0.8% | 4.1% | ||
| Q1 25 | 0.9% | 3.4% | ||
| Q4 24 | 1.1% | 3.6% | ||
| Q3 24 | 0.8% | 3.2% | ||
| Q2 24 | 0.7% | 4.5% |
现金转化率USFDV
| Q2 26 | — | — | ||
| Q4 25 | 1.59× | 1.16× | ||
| Q3 25 | 2.29× | 1.23× | ||
| Q2 25 | 1.49× | 1.28× | ||
| Q1 25 | 3.40× | 1.03× | ||
| Q4 24 | 4.29× | 1.05× | ||
| Q3 24 | 1.82× | 1.25× | ||
| Q2 24 | 2.43× | 1.05× |
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
USFD
| Product One | $3.5B | 36% |
| Product Two | $1.7B | 17% |
| Product Three | $1.7B | 17% |
| Product Four | $985.0M | 10% |
| Product Five | $901.0M | 9% |
| Product Six | $580.0M | 6% |
| Product Seven | $485.0M | 5% |
V
| Data processing revenue | $5.5B | 49% |
| International transaction revenue | $3.6B | 32% |
| Other revenue | $1.3B | 12% |
| Other | $736.0M | 7% |
