vs
惠而浦（WHR）与韦莱韬悦（WTW）财务数据对比。点击上方公司名可切换其他公司
惠而浦的季度营收约是韦莱韬悦的1.4倍（$4.1B vs $2.9B），韦莱韬悦净利率更高（25.5% vs 2.7%，领先22.9%），惠而浦同比增速更快（-0.9% vs -3.5%），惠而浦自由现金流更多（$989.0M vs $708.0M），过去两年韦莱韬悦的营收复合增速更高（12.0% vs -4.5%）
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。
韦莱韬悦是一家英美联营的跨国咨询、经纪及解决方案服务商，业务覆盖商业保险经纪与风险咨询、员工福利与薪酬咨询、退休与精算服务，同时可为养老基金、机构投资者提供专业投资建议，服务网络覆盖全球多个市场。
WHR vs WTW — 直观对比
营收规模更大
WHR
是对方的1.4倍
$2.9B
营收增速更快
WHR
高出2.6%
-3.5%
净利率更高
WTW
高出22.9%
2.7%
自由现金流更多
WHR
多$281.0M
$708.0M
两年增速更快
WTW
近两年复合增速
-4.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.1B | $2.9B |
| 净利润 | $109.0M | $735.0M |
| 毛利率 | 14.0% | — |
| 营业利润率 | 6.0% | 35.3% |
| 净利率 | 2.7% | 25.5% |
| 营收同比 | -0.9% | -3.5% |
| 净利润同比 | 127.8% | -41.0% |
| 每股收益（稀释后） | $1.92 | $7.50 |
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WHRWTW
| Q4 25 | $4.1B | $2.9B | ||
| Q3 25 | $4.0B | $2.2B | ||
| Q2 25 | $3.8B | $2.2B | ||
| Q1 25 | $3.6B | $2.2B | ||
| Q4 24 | $4.1B | $3.0B | ||
| Q3 24 | $4.0B | $2.2B | ||
| Q2 24 | $4.0B | $2.2B | ||
| Q1 24 | $4.5B | $2.3B |
净利润WHRWTW
| Q4 25 | $109.0M | $735.0M | ||
| Q3 25 | $73.0M | $304.0M | ||
| Q2 25 | $65.0M | $331.0M | ||
| Q1 25 | $71.0M | $235.0M | ||
| Q4 24 | $-392.0M | $1.2B | ||
| Q3 24 | $109.0M | $-1.7B | ||
| Q2 24 | $219.0M | $141.0M | ||
| Q1 24 | $-259.0M | $190.0M |
毛利率WHRWTW
| 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WHRWTW
| Q4 25 | 6.0% | 35.3% | ||
| Q3 25 | 5.1% | 18.7% | ||
| Q2 25 | 5.4% | 16.6% | ||
| Q1 25 | 5.1% | 19.8% | ||
| Q4 24 | -3.3% | 30.2% | ||
| Q3 24 | 6.6% | -34.2% | ||
| Q2 24 | 3.3% | 9.6% | ||
| Q1 24 | -2.6% | 12.2% |
净利率WHRWTW
| Q4 25 | 2.7% | 25.5% | ||
| Q3 25 | 1.8% | 13.6% | ||
| Q2 25 | 1.7% | 14.9% | ||
| Q1 25 | 2.0% | 10.8% | ||
| Q4 24 | -9.5% | 41.7% | ||
| Q3 24 | 2.7% | -74.8% | ||
| Q2 24 | 5.5% | 6.4% | ||
| Q1 24 | -5.8% | 8.3% |
每股收益（稀释后）WHRWTW
| Q4 25 | $1.92 | $7.50 | ||
| Q3 25 | $1.29 | $3.11 | ||
| Q2 25 | $1.17 | $3.32 | ||
| Q1 25 | $1.28 | $2.33 | ||
| Q4 24 | $-7.11 | $12.29 | ||
| Q3 24 | $2.00 | $-16.44 | ||
| Q2 24 | $3.96 | $1.36 | ||
| Q1 24 | $-4.72 | $1.83 |
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 | $3.2B |
| 总债务越低越好 | $6.2B | $9.7B |
| 股东权益账面价值 | $2.7B | $8.0B |
| 总资产 | $16.0B | $29.5B |
| 负债/权益比越低杠杆越低 | 2.26× | 1.21× |
8季度趋势，按日历期对齐
现金及短期投资WHRWTW
| Q4 25 | $669.0M | $3.2B | ||
| Q3 25 | $934.0M | $1.9B | ||
| Q2 25 | $1.1B | $2.0B | ||
| Q1 25 | $1.0B | $1.5B | ||
| Q4 24 | $1.3B | $1.9B | ||
| Q3 24 | $1.1B | $1.4B | ||
| Q2 24 | $1.2B | $1.2B | ||
| Q1 24 | $1.2B | $1.9B |
总债务WHRWTW
| Q4 25 | $6.2B | $9.7B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $6.6B | $8.6B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益WHRWTW
| Q4 25 | $2.7B | $8.0B | ||
| Q3 25 | $2.6B | $7.7B | ||
| Q2 25 | $2.6B | $8.1B | ||
| Q1 25 | $2.6B | $8.1B | ||
| Q4 24 | $2.7B | $7.9B | ||
| Q3 24 | $3.0B | $7.5B | ||
| Q2 24 | $3.1B | $9.3B | ||
| Q1 24 | $2.4B | $9.5B |
总资产WHRWTW
| Q4 25 | $16.0B | $29.5B | ||
| Q3 25 | $16.9B | $27.4B | ||
| Q2 25 | $16.8B | $28.5B | ||
| Q1 25 | $16.5B | $28.1B | ||
| Q4 24 | $16.3B | $27.7B | ||
| Q3 24 | $17.2B | $27.2B | ||
| Q2 24 | $17.3B | $29.6B | ||
| Q1 24 | $17.4B | $30.2B |
负债/权益比WHRWTW
| Q4 25 | 2.26× | 1.21× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.46× | 1.08× | ||
| 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 | $1.1B | $771.0M |
| 自由现金流经营现金流 - 资本支出 | $989.0M | $708.0M |
| 自由现金流率自由现金流/营收 | 24.1% | 24.6% |
| 资本支出强度资本支出/营收 | 3.7% | 2.2% |
| 现金转化率经营现金流/净利润 | 10.45× | 1.05× |
| 过去12个月自由现金流最近4个季度 | $81.0M | $1.5B |
8季度趋势，按日历期对齐
经营现金流WHRWTW
| Q4 25 | $1.1B | $771.0M | ||
| Q3 25 | $33.0M | $678.0M | ||
| Q2 25 | $19.0M | $361.0M | ||
| Q1 25 | $-721.0M | $-35.0M | ||
| Q4 24 | $1.1B | $599.0M | ||
| Q3 24 | $214.0M | $482.0M | ||
| Q2 24 | $388.0M | $407.0M | ||
| Q1 24 | $-873.0M | $24.0M |
自由现金流WHRWTW
| Q4 25 | $989.0M | $708.0M | ||
| Q3 25 | $-52.0M | $621.0M | ||
| Q2 25 | $-63.0M | $303.0M | ||
| Q1 25 | $-793.0M | $-86.0M | ||
| Q4 24 | $970.0M | $543.0M | ||
| Q3 24 | $127.0M | $419.0M | ||
| Q2 24 | $275.0M | $341.0M | ||
| Q1 24 | $-988.0M | $-36.0M |
自由现金流率WHRWTW
| Q4 25 | 24.1% | 24.6% | ||
| Q3 25 | -1.3% | 27.7% | ||
| Q2 25 | -1.7% | 13.7% | ||
| Q1 25 | -21.9% | -3.9% | ||
| Q4 24 | 23.5% | 18.2% | ||
| Q3 24 | 3.2% | 18.7% | ||
| Q2 24 | 6.9% | 15.4% | ||
| Q1 24 | -22.0% | -1.6% |
资本支出强度WHRWTW
| Q4 25 | 3.7% | 2.2% | ||
| Q3 25 | 2.1% | 2.5% | ||
| Q2 25 | 2.2% | 2.6% | ||
| Q1 25 | 2.0% | 2.3% | ||
| Q4 24 | 3.3% | 1.9% | ||
| Q3 24 | 2.2% | 2.8% | ||
| Q2 24 | 2.8% | 3.0% | ||
| Q1 24 | 2.6% | 2.6% |
现金转化率WHRWTW
| Q4 25 | 10.45× | 1.05× | ||
| Q3 25 | 0.45× | 2.23× | ||
| Q2 25 | 0.29× | 1.09× | ||
| Q1 25 | -10.15× | -0.15× | ||
| Q4 24 | — | 0.48× | ||
| Q3 24 | 1.96× | — | ||
| Q2 24 | 1.77× | 2.89× | ||
| Q1 24 | — | 0.13× |
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
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% |
WTW
| Health Wealth And Career | $1.7B | 58% |
| GB | $566.0M | 20% |
| Broking | $465.0M | 16% |
| Other | $113.0M | 4% |
| December Thirty One Two Thousand And Twenty Four | $67.0M | 2% |
| IE | $38.0M | 1% |
