财务数据
金额单位：亿美元；每股数据：美元；股数：亿股。* 为推导值（如第四季度 = 全年 − 前三季度；半年报公司的下半年 = 全年 − 上半年），悬停任一数字可查看来源（XBRL 标签 / PDF 页码 / 计算公式）。
年度营收（亿美元）
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| FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 营业收入 | 1,290 | 1,416 | 1,527 | 1,668 | 1,959 | 2,270 | 2,423 | 2,545 | 2,752 | 3,032 |
年度利润（亿美元）
营业利润净利润
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| FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 营业利润 | 41.1 | 44.8 | 47.4 | 54.4 | 67.1 | 77.9 | 81.1 | 92.8 | 103.8 | 116.8 |
| 净利润 | 26.8 | 31.3 | 36.6 | 40.0 | 50.1 | 58.4 | 62.9 | 73.7 | 81.0 | 92.3 |
市盈率对比：表观 vs 实际（倍，按当前市值折算）
表观市盈率（账面口径）实际市盈率（主业口径）
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| FY23 | FY24 | FY25 | FY26 | TTM | |
|---|---|---|---|---|---|
| 表观市盈率（账面口径） | 73.3x | 62.6x | 56.9x | 50.0x | 50.0x |
| 实际市盈率（主业口径） | 76.7x | 65.7x | 59.3x | 52.4x | 52.4x |
最新滚动 12 个月（FY2026Q1–FY2026Q4）：总市值 4,612.1 亿美元；账面净利润 92.3 亿美元 → 表观市盈率 50.0x；剔除税后非主业净收益 4.3 亿美元（投资/股权及利息等营业外收支税前 5.7 亿，有效税率 24.7%）后，实际主业盈利 88.0 亿美元 → 实际市盈率 52.4x（表观市盈率被非主业收益拉低 2.4x）。
年度账面盈利 vs 实际主业盈利（亿美元，含 TTM）
账面净利润实际主业盈利
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| FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 账面净利润 | 26.8 | 31.3 | 36.6 | 40.0 | 50.1 | 58.4 | 62.9 | 73.7 | 81.0 | 92.3 | 92.3 |
| 实际主业盈利 | 27.3 | 31.6 | 36.4 | 40.5 | 50.3 | 58.1 | 60.2 | 70.2 | 77.7 | 88.0 | 88.0 |
年度利润率
毛利率营业利润率税后营业利润率净利率
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| FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 毛利率 | 13.3% | 13.0% | 10.8% | 13.1% | 12.9% | 12.1% | 12.3% | 12.6% | 12.8% | 12.8% |
| 营业利润率 | 3.2% | 3.2% | 3.1% | 3.3% | 3.4% | 3.4% | 3.3% | 3.6% | 3.8% | 3.9% |
| 税后营业利润率 | 2.1% | 2.3% | 2.4% | 2.5% | 2.6% | 2.6% | 2.5% | 2.8% | 2.8% | 2.9% |
| 净利率 | 2.1% | 2.2% | 2.4% | 2.4% | 2.6% | 2.6% | 2.6% | 2.9% | 2.9% | 3.0% |
资本开支与自由现金流（亿美元）
资本开支自由现金流
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| FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 资本开支 | 25.0 | 29.7 | 30.0 | 28.1 | 35.9 | 38.9 | 43.2 | 47.1 | 55.0 | 64.3 |
| 自由现金流 | 42.2 | 28.1 | 33.6 | 60.5 | 53.7 | 35.0 | 67.5 | 66.3 | 78.4 | 93.8 |
年度ROE 与 ROIC
ROEROIC三年增量 ROIC
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| FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 23.4% | 26.6% | 26.1% | 23.9% | 27.9% | 30.6% | 27.5% | 30.3% | 30.7% | 28.4% |
| ROIC | 21.6% | 24.2% | 30.7% | 30.4% | 39.2% | 34.7% | 35.9% | 36.0% | 37.5% | 45.1% |
| 三年增量 ROIC | 30.6% | 44.5% | 59.3% | 29.5% | 49.9% |
FY2026 ROIC 45.1% = 税后营业利润（NOPAT）88.0 亿美元 ÷ 投入资本 195.1 亿美元（杜邦拆解：税后营业利润率 2.9% × 投入资本周转率 15.54x）。
年度税后营业利润（NOPAT）与投入资本（亿美元）
税后营业利润（NOPAT）投入资本
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| FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 税后营业利润（NOPAT） | 27.6 | 32.1 | 36.8 | 41.1 | 51.0 | 58.8 | 60.2 | 70.2 | 77.7 | 88.0 |
| 投入资本 | 128.1 | 132.3 | 119.8 | 135.2 | 130.0 | 169.2 | 167.3 | 195.1 | 207.2 | 195.1 |
| 科目 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| 利润表 | ||||||||||
| 营业收入IS_REVENUE | 1,290.2 | 1,415.8 | 1,527.0 | 1,667.6 | 1,959.3 | 2,269.5 | 2,422.9 | 2,544.5 | 2,752.4 | 3,031.5 |
| 营业成本IS_COGS | 1,118.8 | 1,231.5 | 1,328.9 | 1,449.4 | 1,706.8 | 1,993.8 | 2,125.9 | 2,223.6 | 2,398.9 | 2,642.8 |
| 毛利IS_GROSS_PROFIT | 171.4 | 184.2 | 164.6 | 218.2 | 252.4 | 275.7 | 297.0 | 321.0 | 353.5 | 388.8 |
| 销售及管理费用IS_SGA | 129.5 | 138.8 | 149.9 | 163.9 | 185.4 | 197.8 | 215.9 | 228.1 | 249.7 | 271.9 |
| 营业利润IS_OPERATING_PROFIT | 41.1 | 44.8 | 47.4 | 54.4 | 67.1 | 77.9 | 81.1 | 92.8 | 103.8 | 116.8 |
| 税前利润IS_PRETAX_PROFIT | 40.4 | 44.4 | 47.6 | 53.7 | 66.8 | 78.4 | 84.9 | 97.4 | 108.2 | 122.5 |
| 所得税IS_TAX | 13.2 | 12.6 | 10.6 | 13.1 | 16.0 | 19.2 | 22.0 | 23.7 | 27.2 | 30.2 |
| 净利润IS_NET_PROFIT | 26.8 | 31.3 | 36.6 | 40.0 | 50.1 | 58.4 | 62.9 | 73.7 | 81.0 | 92.3 |
| 基本每股收益IS_EPS_BASIC | 6.11 | 7.15 | 8.32 | 9.05 | 11.30 | 13.17 | 14.18 | 16.59 | 18.24 | 20.78 |
| 摊薄每股收益IS_EPS_DILUTED | 6.08 | 7.09 | 8.26 | 9.02 | 11.27 | 13.14 | 14.16 | 16.56 | 18.21 | 20.76 |
| 基本加权股数IS_SHARES_BASIC | 4.38 | 4.39 | 4.40 | 4.42 | 4.43 | 4.44 | 4.44 | 4.44 | 4.44 | 4.44 |
| 摊薄加权股数IS_SHARES_DILUTED | 4.41 | 4.42 | 4.43 | 4.44 | 4.44 | 4.45 | 4.44 | 4.45 | 4.45 | 4.44 |
| 每股宣派股息IS_DPS_DECLARED | 8.90 | 2.14 | 2.44 | 3.84 | 19.36 | 4.92 | 5.54 | |||
| 资产负债表 | ||||||||||
| 总资产BS_TOTAL_ASSETS | 363.5 | 408.3 | 454.0 | 555.6 | 592.7 | 641.7 | 689.9 | 698.3 | 771.0 | 890.4 |
| 流动资产BS_CURRENT_ASSETS | 173.2 | 202.9 | 234.8 | 281.2 | 295.0 | 327.0 | 358.8 | 342.5 | 383.8 | 465.8 |
| 现金及等价物BS_CASH | 45.5 | 60.6 | 83.8 | 122.8 | 112.6 | 102.0 | 137.0 | 99.1 | 141.6 | 202.1 |
| 短期投资（有价证券/定期存款）BS_ST_INVESTMENTS | 12.3 | 12.0 | 10.6 | 10.3 | 9.2 | 8.5 | 15.3 | 12.4 | 11.2 | 10.9 |
| 存货BS_INVENTORY | 98.3 | 110.4 | 114.0 | 122.4 | 142.2 | 179.1 | 166.5 | 186.5 | 181.2 | 193.2 |
| 固定资产净值BS_PPE_NET | 181.6 | 196.8 | 208.9 | 218.1 | 234.9 | 246.5 | 266.8 | 290.3 | 319.1 | 356.3 |
| 在建工程BS_CIP | 8.4 | 11.4 | 12.7 | 12.8 | 15.1 | 15.8 | 12.7 | 13.9 | 18.8 | 27.2 |
| 总负债BS_TOTAL_LIABILITIES | 252.7 | 277.3 | 298.2 | 368.5 | 411.9 | 435.2 | 439.4 | 462.1 | 479.4 | 532.4 |
| 流动负债BS_CURRENT_LIABILITIES | 175.0 | 199.3 | 232.4 | 248.4 | 294.4 | 320.0 | 335.8 | 354.6 | 371.1 | 439.5 |
| 一年内到期借款BS_ST_DEBT | 0.9 | 0.9 | 17.0 | 1.0 | 8.0 | 0.7 | 10.8 | 1.0 | 0.8 | 22.5 |
| 应付账款BS_AP | 96.1 | 112.4 | 116.8 | 141.7 | 162.8 | 178.5 | 174.8 | 194.2 | 197.8 | 225.9 |
| 合同负债BS_CONTRACT_LIAB | 15.0 | 16.2 | 17.1 | 18.5 | 20.4 | 21.7 | 23.4 | 25.0 | 28.5 | 30.1 |
| 长期借款BS_LT_DEBT | 65.7 | 64.9 | 51.2 | 75.1 | 66.9 | 64.8 | 53.8 | 57.9 | 57.1 | 39.1 |
| 股东权益BS_TOTAL_EQUITY | 107.8 | 128.0 | 152.4 | 182.8 | 175.6 | 206.4 | 250.6 | 236.2 | 291.6 | 358.0 |
| 少数股东权益BS_MINORITY_INTEREST | 3.0 | 3.0 | 3.4 | 4.2 | 5.1 | 0.0 | 0.0 | |||
| 现金流量表 | ||||||||||
| 经营活动现金流CF_OPERATING | 67.3 | 57.7 | 63.6 | 88.6 | 89.6 | 73.9 | 110.7 | 113.4 | 133.4 | 158.2 |
| 折旧摊销CF_DEPRECIATION | 13.7 | 14.4 | 14.9 | 16.4 | 17.8 | 19.0 | 20.8 | 22.4 | 24.3 | 26.7 |
| 股权激励费用CF_SBC | 5.1 | 5.4 | 6.0 | 6.2 | 6.6 | 7.2 | 7.7 | 8.2 | 8.6 | 9.2 |
| 投资活动现金流CF_INVESTING | -23.7 | -29.5 | -28.6 | -38.9 | -35.4 | -39.2 | -49.7 | -44.1 | -53.1 | -63.8 |
| 资本开支CF_CAPEX | 25.0 | 29.7 | 30.0 | 28.1 | 35.9 | 38.9 | 43.2 | 47.1 | 55.0 | 64.4 |
| 融资租赁新增资产（非现金）CF_FINANCE_LEASE_ADDITIONS | 3.2 | 4.0 | 7.9 | 1.0 | 2.0 | 1.3 | 1.2 | |||
| 经营租赁新增使用权资产（非现金）CF_OPLEASE_ADDITIONS | 3.5 | 3.5 | 2.3 | 2.0 | 1.2 | 2.9 | 2.4 | |||
| 筹资活动现金流CF_FINANCING | -32.2 | -12.8 | -11.5 | -11.5 | -64.9 | -42.8 | -26.1 | -107.6 | -37.8 | -33.6 |
| 偿还融资租赁本金CF_FINANCE_LEASE_PRINCIPAL | 0.5 | 0.7 | 1.8 | 2.9 | 1.4 | 1.5 | 0.9 | |||
| 派息CF_DIVIDEND | 39.0 | 6.9 | 10.4 | 14.8 | 57.5 | 15.0 | 12.5 | 90.4 | 21.8 | 24.6 |
| 回购CF_BUYBACK | 4.7 | 3.3 | 2.5 | 2.0 | 5.0 | 4.4 | 6.8 | 7.0 | 9.0 | 8.5 |
| 财务指标 | ||||||||||
| 毛利率GROSS_MARGIN | 13.3% | 13.0% | 10.8% | 13.1% | 12.9% | 12.1% | 12.3% | 12.6% | 12.8% | 12.8% |
| 营业利润率OPERATING_MARGIN | 3.2% | 3.2% | 3.1% | 3.3% | 3.4% | 3.4% | 3.3% | 3.6% | 3.8% | 3.9% |
| 净利率NET_MARGIN | 2.1% | 2.2% | 2.4% | 2.4% | 2.6% | 2.6% | 2.6% | 2.9% | 2.9% | 3.0% |
| 税后营业利润NOPAT | 27.6 | 32.1 | 36.8 | 41.1 | 51.0 | 58.8 | 60.2 | 70.2 | 77.7 | 88.0 |
| 税后营业利润率NOPAT_MARGIN | 2.1% | 2.3% | 2.4% | 2.5% | 2.6% | 2.6% | 2.5% | 2.8% | 2.8% | 2.9% |
| 投入资本INVESTED_CAPITAL | 128.0 | 132.3 | 119.8 | 135.2 | 130.0 | 169.2 | 167.4 | 195.1 | 207.2 | 195.1 |
| 投入资本周转率CAPITAL_TURNOVER | 10.08 | 10.70 | 12.74 | 12.33 | 15.07 | 13.41 | 14.48 | 13.04 | 13.29 | 15.54 |
| ROEROE | 23.4% | 26.6% | 26.1% | 23.9% | 27.9% | 30.6% | 27.5% | 30.3% | 30.7% | 28.4% |
| ROICROIC | 21.6% | 24.2% | 30.7% | 30.4% | 39.2% | 34.7% | 35.9% | 36.0% | 37.5% | 45.1% |
| 三年增量 ROICINCREMENTAL_ROIC_3Y | 30.6% | 44.5% | 59.3% | 29.5% | 49.9% | |||||
| 资产负债率DEBT_RATIO | 69.5% | 67.9% | 65.7% | 66.3% | 69.5% | 67.8% | 63.7% | 66.2% | 62.2% | 59.8% |
| 经营现金流/净利润OCF_TO_PROFIT | 251.1% | 184.2% | 173.7% | 221.4% | 178.9% | 126.5% | 175.9% | 153.9% | 164.6% | 171.4% |
| 应计比率ACCRUAL_RATIO | -11.1% | -6.5% | -5.9% | -8.7% | -6.7% | -2.4% | -6.9% | -5.7% | -6.8% | -7.4% |
| 营业外收支/税前利润NONOP_TO_PRETAX | -1.8% | -0.9% | 0.6% | -1.3% | -0.4% | 0.6% | 4.4% | 4.7% | 4.0% | 4.6% |
| 自由现金流FCF | 42.2 | 28.0 | 33.6 | 60.5 | 53.7 | 35.0 | 67.4 | 66.3 | 78.4 | 93.8 |
| 自由现金流利润率FCF_MARGIN | 3.3% | 2.0% | 2.2% | 3.6% | 2.7% | 1.5% | 2.8% | 2.6% | 2.8% | 3.1% |
| 股权激励/营收SBC_TO_REVENUE | 0.4% | 0.4% | 0.4% | 0.4% | 0.3% | 0.3% | 0.3% | 0.3% | 0.3% | 0.3% |
| 扣股权激励自由现金流FCF_AFTER_SBC | 37.1 | 22.6 | 27.6 | 54.3 | 47.0 | 27.8 | 59.7 | 58.1 | 69.8 | 84.6 |
| 扣融资租赁本金自由现金流FCF_AFTER_LEASES | 60.0 | 53.0 | 33.2 | 64.5 | 64.9 | 76.9 | 92.9 | |||
| 资本开支/折旧摊销CAPEX_TO_DA | 1.83 | 2.07 | 2.01 | 1.71 | 2.01 | 2.05 | 2.08 | 2.11 | 2.27 | 2.41 |
| 资本开支（含融资租赁）CAPEX_INCL_LEASES | 31.3 | 39.9 | 46.8 | 44.2 | 49.1 | 56.3 | 65.6 | |||
| 资本开支（含融资租赁）/折旧摊销CAPEX_INCL_LEASES_TO_DA | 1.90 | 2.24 | 2.47 | 2.13 | 2.19 | 2.32 | 2.45 | |||
| 在建工程/固定资产净值CIP_TO_PPE | 4.6% | 5.8% | 6.1% | 5.9% | 6.4% | 6.4% | 4.7% | 4.8% | 5.9% | 7.6% |
| 固定资产周转率PPE_TURNOVER | 7.10 | 7.19 | 7.31 | 7.65 | 8.34 | 9.21 | 9.08 | 8.76 | 8.63 | 8.51 |
| 总资产周转率ASSET_TURNOVER | 3.71 | 3.67 | 3.54 | 3.30 | 3.41 | 3.68 | 3.64 | 3.67 | 3.75 | 3.65 |
| 权益乘数EQUITY_MULTIPLIER | 3.04 | 3.27 | 3.08 | 3.01 | 3.20 | 3.23 | 2.91 | 2.85 | 2.78 | 2.56 |
| 存货周转天数DIO | 32.1 | 32.7 | 31.3 | 30.8 | 30.4 | 32.8 | 28.6 | 30.6 | 27.6 | 26.7 |
| 应付周转天数DPO | 31.3 | 33.3 | 32.1 | 35.7 | 34.8 | 32.7 | 30.0 | 31.9 | 30.1 | 31.2 |
| 合同负债同比CONTRACT_LIAB_YOY | 10.0% | 8.4% | 5.4% | 8.2% | 10.3% | 6.5% | 7.5% | 7.0% | 14.1% | 5.3% |
| 所有者盈余OWNER_EARNINGS | 53.6 | 43.4 | 48.6 | 72.2 | 71.8 | 54.9 | 89.9 | 91.0 | 109.1 | 131.4 |
| 股东回报（派息+回购）SHAREHOLDER_RETURN | 43.7 | 10.2 | 12.8 | 16.8 | 62.4 | 19.4 | 19.3 | 97.4 | 30.9 | 33.1 |
| 股东回报/自由现金流SHAREHOLDER_RETURN_TO_FCF | 103.5% | 36.3% | 38.3% | 27.7% | 116.3% | 55.3% | 28.6% | 146.9% | 39.4% | 35.2% |
| 派息率PAYOUT_RATIO | 145.7% | 22.0% | 28.4% | 37.0% | 114.8% | 25.6% | 19.9% | 122.7% | 27.0% | 26.6% |
| 稀释率DILUTION_RATE | 0.6% | 0.8% | 0.7% | 0.4% | 0.3% | 0.2% | 0.1% | 0.2% | 0.2% | 0.1% |
| 摊薄股数同比SHARES_DILUTED_CHANGE | -0.1% | 0.2% | 0.2% | 0.2% | 0.1% | 0.1% | -0.1% | 0.1% | 0.0% | -0.1% |
| 摊薄 EPS 同比EPS_DILUTED_GROWTH | 14.1% | 16.6% | 16.5% | 9.2% | 24.9% | 16.6% | 7.8% | 16.9% | 10.0% | 14.0% |
勾稽校验（所示期间）：10 项， 全部通过
季度营收（亿美元）
查看数据表
| 24Q1 | 24Q2 | 24Q3 | 24Q4 | 25Q1 | 25Q2 | 25Q3 | 25Q4 | 26Q1 | 26Q2 | 26Q3 | 26Q4 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 营业收入 | 578.0 | 584.4 | 585.1 | 797.0 | 621.5 | 637.2 | 632.0 | 861.6 | 673.1 | 696.0 | 705.3 | 957.2 |
季度利润（亿美元）
营业利润净利润
查看数据表
| 24Q1 | 24Q2 | 24Q3 | 24Q4 | 25Q1 | 25Q2 | 25Q3 | 25Q4 | 26Q1 | 26Q2 | 26Q3 | 26Q4 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 营业利润 | 19.8 | 20.6 | 22.0 | 30.4 | 22.0 | 23.2 | 25.3 | 33.4 | 24.6 | 26.1 | 28.1 | 38.0 |
| 净利润 | 15.9 | 17.4 | 16.8 | 23.5 | 18.0 | 17.9 | 19.0 | 26.1 | 20.0 | 20.4 | 21.9 | 30.0 |
滚动 TTM 市盈率对比：表观 vs 实际（倍，按当前市值折算）
表观市盈率（TTM）实际市盈率（TTM）
查看数据表
| 25Q1 | 25Q2 | 25Q3 | 25Q4 | 26Q1 | 26Q2 | 26Q3 | 26Q4 | |
|---|---|---|---|---|---|---|---|---|
| 表观市盈率（TTM） | 60.9x | 60.5x | 58.8x | 56.9x | 55.6x | 53.9x | 52.2x | 50.0x |
| 实际市盈率（TTM） | 63.7x | 62.8x | 60.8x | 59.3x | 57.9x | 56.2x | 54.6x | 52.4x |
季度账面盈利 vs 实际主业盈利（亿美元）
账面净利润实际主业盈利
查看数据表
| 24Q1 | 24Q2 | 24Q3 | 24Q4 | 25Q1 | 25Q2 | 25Q3 | 25Q4 | 26Q1 | 26Q2 | 26Q3 | 26Q4 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 账面净利润 | 15.9 | 17.4 | 16.8 | 23.5 | 18.0 | 17.9 | 19.0 | 26.1 | 20.0 | 20.4 | 21.9 | 30.0 |
| 实际主业盈利 | 15.0 | 16.1 | 16.2 | 23.0 | 17.1 | 17.1 | 18.7 | 24.8 | 19.1 | 19.5 | 21.0 | 28.4 |
季度利润率
毛利率营业利润率税后营业利润率净利率
查看数据表
| 24Q1 | 24Q2 | 24Q3 | 24Q4 | 25Q1 | 25Q2 | 25Q3 | 25Q4 | 26Q1 | 26Q2 | 26Q3 | 26Q4 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 毛利率 | 12.7% | 12.5% | 12.5% | 12.7% | 12.9% | 12.5% | 13.0% | 12.9% | 13.1% | 12.8% | 12.8% | 12.7% |
| 营业利润率 | 3.4% | 3.5% | 3.8% | 3.8% | 3.5% | 3.6% | 4.0% | 3.9% | 3.7% | 3.7% | 4.0% | 4.0% |
| 税后营业利润率 | 2.6% | 2.7% | 2.8% | 2.9% | ||||||||
| 净利率 | 2.7% | 3.0% | 2.9% | 3.0% | 2.9% | 2.8% | 3.0% | 3.0% | 3.0% | 2.9% | 3.1% | 3.1% |
资本开支与自由现金流（亿美元）
资本开支自由现金流
查看数据表
| 24Q1 | 24Q2 | 24Q3 | 24Q4 | 25Q1 | 25Q2 | 25Q3 | 25Q4 | 26Q1 | 26Q2 | 26Q3 | 26Q4 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 资本开支 | 10.4 | 10.3 | 10.6 | 15.8 | 12.6 | 11.4 | 11.3 | 19.7 | 15.3 | 12.9 | 14.1 | 22.1 |
| 自由现金流 | 36.1 | -3.0 | 19.4 | 13.8 | 20.0 | 16.1 | 23.3 | 19.0 | 31.6 | 17.1 | 20.4 | 24.8 |
季度ROE 与 ROIC
ROEROIC
查看数据表
| 24Q1 | 24Q2 | 24Q3 | 24Q4 | 25Q1 | 25Q2 | 25Q3 | 25Q4 | 26Q1 | 26Q2 | 26Q3 | 26Q4 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 6.1% | 8.4% | 7.7% | 10.0% | 7.4% | 7.0% | 7.0% | 8.9% | 6.6% | 6.3% | 6.5% | 8.4% |
| ROIC | 10.0% | 9.2% | 9.4% | 11.8% |
FY2024Q4 ROIC 11.8% = 税后营业利润（NOPAT）23.0 亿美元 ÷ 投入资本 195.1 亿美元（杜邦拆解：税后营业利润率 2.9% × 投入资本周转率 16.34x）。
季度税后营业利润（NOPAT）与投入资本（亿美元）
税后营业利润（NOPAT）投入资本
查看数据表
| 24Q1 | 24Q2 | 24Q3 | 24Q4 | 25Q1 | 25Q2 | 25Q3 | 25Q4 | 26Q1 | 26Q2 | 26Q3 | 26Q4 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 税后营业利润（NOPAT） | 15.0 | 16.1 | 16.2 | 23.0 | ||||||||
| 投入资本 | 150.0 | 175.3 | 172.0 | 195.1 | 192.9 | 189.8 | 190.1 | 207.2 | 197.5 | 203.9 | 202.3 | 195.1 |
| 科目 | 24Q1 | 24Q2 | 24Q3 | 24Q4 | 25Q1 | 25Q2 | 25Q3 | 25Q4 | 26Q1 | 26Q2 | 26Q3 | 26Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 利润表 | ||||||||||||
| 营业收入IS_REVENUE | 578.0 | 584.4 | 585.2 | 797.0 | 621.5 | 637.2 | 632.0 | 861.6 | 673.1 | 696.0 | 705.3 | 957.2 |
| 营业成本IS_COGS | 504.6 | 511.4 | 511.7 | 695.9 | 541.1 | 557.4 | 550.0 | 750.4 | 585.1 | 607.2 | 615.2 | 835.3 |
| 毛利IS_GROSS_PROFIT | 73.4 | 73.0 | 73.4 | 101.1 | 80.4 | 79.8 | 82.1 | 111.2 | 88.0 | 88.8 | 90.1 | 121.9 |
| 销售及管理费用IS_SGA | 53.6 | 52.4 | 51.4 | 70.7 | 58.5 | 56.6 | 56.8 | 77.8 | 63.3 | 62.7 | 61.9 | 83.9 |
| 营业利润IS_OPERATING_PROFIT | 19.8 | 20.6 | 22.0 | 30.4 | 22.0 | 23.2 | 25.3 | 33.4 | 24.6 | 26.1 | 28.2 | 38.0 |
| 税前利润IS_PRETAX_PROFIT | 21.1 | 22.4 | 22.8 | 31.1 | ||||||||
| 所得税IS_TAX | 5.2 | 4.9 | 6.0 | 7.6 | 5.1 | 6.3 | 6.8 | 9.0 | 5.8 | 6.9 | 7.5 | 10.1 |
| 净利润IS_NET_PROFIT | 15.9 | 17.4 | 16.8 | 23.5 | 18.0 | 17.9 | 19.0 | 26.1 | 20.0 | 20.4 | 21.9 | 30.0 |
| 基本每股收益IS_EPS_BASIC | 3.58 | 3.93 | 3.79 | 4.05 | 4.03 | 4.29 | 4.51 | 4.58 | 4.94 | |||
| 摊薄每股收益IS_EPS_DILUTED | 3.58 | 3.92 | 3.78 | 4.04 | 4.02 | 4.28 | 4.50 | 4.58 | 4.93 | |||
| 基本加权股数IS_SHARES_BASIC | 4.44 | 4.44 | 4.44 | 4.44 | 4.44 | 4.44 | 4.44 | 4.44 | 4.44 | |||
| 摊薄加权股数IS_SHARES_DILUTED | 4.44 | 4.45 | 4.45 | 4.45 | 4.45 | 4.45 | 4.45 | 4.44 | 4.44 | |||
| 每股宣派股息IS_DPS_DECLARED | 1.02 | 1.02 | 1.16 | 1.16 | 1.16 | 1.30 | 1.30 | 1.30 | 1.47 | |||
| 资产负债表 | ||||||||||||
| 总资产BS_TOTAL_ASSETS | 737.2 | 663.2 | 679.1 | 698.3 | 733.9 | 732.2 | 754.8 | 771.0 | 827.9 | 836.4 | 864.3 | 890.4 |
| 流动资产BS_CURRENT_ASSETS | 400.8 | 321.5 | 332.9 | 342.5 | 375.2 | 369.0 | 381.5 | 383.8 | 434.1 | 431.3 | 451.8 | 465.8 |
| 现金及等价物BS_CASH | 170.1 | 91.0 | 104.0 | 99.1 | 109.1 | 123.6 | 138.4 | 141.6 | 162.2 | 173.8 | 189.5 | 202.1 |
| 短期投资（有价证券/定期存款）BS_ST_INVESTMENTS | 8.5 | 12.3 | 11.0 | 12.4 | 9.2 | 8.0 | 10.1 | 11.2 | 9.7 | 8.6 | 10.5 | 10.9 |
| 存货BS_INVENTORY | 180.0 | 170.8 | 174.3 | 186.5 | 209.8 | 187.5 | 186.1 | 181.2 | 211.4 | 189.9 | 194.2 | 193.2 |
| 固定资产净值BS_PPE_NET | 271.7 | 276.0 | 280.6 | 290.3 | 293.4 | 298.1 | 305.8 | 319.1 | 326.2 | 336.4 | 342.9 | 356.3 |
| 在建工程BS_CIP | 13.9 | 18.8 | 27.2 | |||||||||
| 总负债BS_TOTAL_LIABILITIES | 475.8 | 455.6 | 461.4 | 462.1 | 489.4 | 476.5 | 483.6 | 479.4 | 524.9 | 515.5 | 529.2 | 532.4 |
| 流动负债BS_CURRENT_LIABILITIES | 367.7 | 346.9 | 353.6 | 354.6 | 382.9 | 370.0 | 375.8 | 371.1 | 418.0 | 407.6 | 421.2 | 439.5 |
| 一年内到期借款BS_ST_DEBT | 10.8 | 10.8 | 10.8 | 1.0 | 1.0 | 1.0 | 1.8 | 0.8 | 0.7 | 0.7 | 0.0 | 22.5 |
| 应付账款BS_AP | 203.6 | 174.9 | 188.4 | 194.2 | 217.9 | 186.1 | 198.2 | 197.8 | 235.1 | 206.5 | 223.6 | 225.9 |
| 合同负债BS_CONTRACT_LIAB | 24.6 | 25.4 | 25.5 | 25.0 | 26.8 | 28.2 | 29.3 | 28.5 | 29.9 | 31.3 | 31.6 | 30.1 |
| 长期借款BS_LT_DEBT | 58.7 | 58.6 | 58.3 | 57.9 | 57.4 | 57.6 | 57.2 | 57.1 | 56.7 | 56.9 | 56.7 | 39.1 |
| 股东权益BS_TOTAL_EQUITY | 261.5 | 207.6 | 217.7 | 236.2 | 244.5 | 255.8 | 271.2 | 291.6 | 303.0 | 320.9 | 335.1 | 358.0 |
| 现金流量表 | ||||||||||||
| 经营活动现金流CF_OPERATING | 46.5 | 7.3 | 30.0 | 29.6 | 32.6 | 27.5 | 34.6 | 38.7 | 46.9 | 30.0 | 34.5 | 46.8 |
| 折旧摊销CF_DEPRECIATION | 5.0 | 5.1 | 5.2 | 7.1 | 5.5 | 5.5 | 5.5 | 7.7 | 6.0 | 6.0 | 6.0 | 8.8 |
| 股权激励费用CF_SBC | 4.4 | 1.4 | 1.1 | 1.3 | 4.6 | 1.5 | 1.1 | 1.4 | 4.9 | 1.7 | 1.2 | 1.5 |
| 投资活动现金流CF_INVESTING | -3.7 | -13.9 | -9.5 | -17.0 | -9.8 | -10.2 | -13.4 | -19.7 | -14.0 | -11.7 | -15.9 | -22.2 |
| 资本开支CF_CAPEX | 10.4 | 10.3 | 10.6 | 15.8 | 12.6 | 11.4 | 11.3 | 19.7 | 15.3 | 12.9 | 14.1 | 22.1 |
| 融资租赁新增资产（非现金）CF_FINANCE_LEASE_ADDITIONS | 0.3 | 0.7 | 0.8 | 0.3 | 1.1 | -0.1 | -0.1 | 0.4 | 0.2 | 0.4 | 0.6 | 0.1 |
| 经营租赁新增使用权资产（非现金）CF_OPLEASE_ADDITIONS | 0.2 | 1.3 | -0.3 | 0.1 | 0.2 | 0.4 | 1.8 | 0.6 | 0.9 | 0.4 | 0.7 | 0.4 |
| 筹资活动现金流CF_FINANCING | -9.7 | -72.8 | -7.0 | -18.2 | -11.9 | -2.4 | -7.5 | -15.9 | -11.7 | -7.3 | -2.8 | -11.8 |
| 偿还融资租赁本金CF_FINANCE_LEASE_PRINCIPAL | 0.8 | 0.1 | 0.2 | 0.2 | 0.2 | 0.8 | 0.2 | 0.3 | 0.2 | 0.1 | 0.2 | 0.3 |
| 派息CF_DIVIDEND | 9.0 | 71.1 | 5.2 | 5.1 | 5.2 | 0.0 | 5.2 | 11.5 | 5.8 | 5.8 | 0.0 | 13.0 |
| 回购CF_BUYBACK | 1.6 | 1.6 | 1.6 | 2.2 | 2.1 | 2.0 | 2.1 | 2.8 | 2.1 | 2.1 | 1.8 | 2.4 |
| 财务指标 | ||||||||||||
| 毛利率GROSS_MARGIN | 12.7% | 12.5% | 12.5% | 12.7% | 12.9% | 12.5% | 13.0% | 12.9% | 13.1% | 12.8% | 12.8% | 12.7% |
| 营业利润率OPERATING_MARGIN | 3.4% | 3.5% | 3.8% | 3.8% | 3.5% | 3.6% | 4.0% | 3.9% | 3.7% | 3.7% | 4.0% | 4.0% |
| 净利率NET_MARGIN | 2.7% | 3.0% | 2.9% | 3.0% | 2.9% | 2.8% | 3.0% | 3.0% | 3.0% | 2.9% | 3.1% | 3.1% |
| 税后营业利润NOPAT | 15.0 | 16.1 | 16.2 | 23.0 | ||||||||
| 税后营业利润率NOPAT_MARGIN | 2.6% | 2.7% | 2.8% | 2.9% | ||||||||
| 投入资本INVESTED_CAPITAL | 150.0 | 175.3 | 172.0 | 195.1 | 192.9 | 189.8 | 190.1 | 207.2 | 197.5 | 203.9 | 202.3 | 195.1 |
| 投入资本周转率CAPITAL_TURNOVER | 15.41 | 13.34 | 13.61 | 16.34 | 12.89 | 13.43 | 13.30 | 16.64 | 13.63 | 13.65 | 13.94 | 19.63 |
| ROEROE | 6.1% | 8.4% | 7.7% | 10.0% | 7.4% | 7.0% | 7.0% | 8.9% | 6.6% | 6.3% | 6.5% | 8.4% |
| ROICROIC | 10.0% | 9.2% | 9.4% | 11.8% | ||||||||
| 资产负债率DEBT_RATIO | 64.5% | 68.7% | 67.9% | 66.2% | 66.7% | 65.1% | 64.1% | 62.2% | 63.4% | 61.6% | 61.2% | 59.8% |
| 经营现金流/净利润OCF_TO_PROFIT | 292.7% | 41.9% | 178.4% | 125.7% | 181.3% | 153.7% | 181.8% | 148.2% | 234.3% | 147.2% | 157.3% | 156.2% |
| 应计比率ACCRUAL_RATIO | -4.2% | 1.5% | -1.9% | -0.9% | -2.0% | -1.3% | -2.1% | -1.6% | -3.2% | -1.1% | -1.5% | -1.9% |
| 营业外收支/税前利润NONOP_TO_PRETAX | 5.8% | 7.8% | 3.8% | 2.3% | ||||||||
| 自由现金流FCF | 36.1 | -3.0 | 19.4 | 13.8 | 20.0 | 16.1 | 23.3 | 19.0 | 31.6 | 17.1 | 20.4 | 24.8 |
| 自由现金流利润率FCF_MARGIN | 6.2% | -0.5% | 3.3% | 1.7% | 3.2% | 2.5% | 3.7% | 2.2% | 4.7% | 2.5% | 2.9% | 2.6% |
| 股权激励/营收SBC_TO_REVENUE | 0.8% | 0.2% | 0.2% | 0.2% | 0.7% | 0.2% | 0.2% | 0.2% | 0.7% | 0.2% | 0.2% | 0.2% |
| 扣股权激励自由现金流FCF_AFTER_SBC | 31.7 | -4.4 | 18.3 | 12.5 | 15.3 | 14.6 | 22.2 | 17.6 | 26.8 | 15.4 | 19.2 | 23.2 |
| 扣融资租赁本金自由现金流FCF_AFTER_LEASES | 35.3 | -3.1 | 19.2 | 13.6 | 19.8 | 15.3 | 23.1 | 18.7 | 31.4 | 16.9 | 20.2 | 24.4 |
| 资本开支/折旧摊销CAPEX_TO_DA | 2.08 | 2.01 | 2.06 | 2.23 | 2.31 | 2.06 | 2.05 | 2.54 | 2.56 | 2.16 | 2.37 | 2.50 |
| 资本开支（含融资租赁）CAPEX_INCL_LEASES | 10.7 | 11.0 | 11.4 | 16.0 | 13.8 | 11.3 | 11.2 | 20.0 | 15.4 | 13.3 | 14.7 | 22.1 |
| 资本开支（含融资租赁）/折旧摊销CAPEX_INCL_LEASES_TO_DA | 2.13 | 2.14 | 2.21 | 2.27 | 2.51 | 2.05 | 2.03 | 2.59 | 2.59 | 2.23 | 2.46 | 2.51 |
| 在建工程/固定资产净值CIP_TO_PPE | 4.8% | 5.9% | 7.6% | |||||||||
| 固定资产周转率PPE_TURNOVER | 8.51 | 8.47 | 8.34 | 10.98 | 8.47 | 8.55 | 8.27 | 10.80 | 8.25 | 8.27 | 8.23 | 10.75 |
| 存货周转天数DIO | 32.6 | 30.5 | 31.1 | 24.5 | 35.4 | 30.7 | 30.9 | 22.0 | 33.0 | 28.5 | 28.8 | 21.1 |
| 应付周转天数DPO | 36.8 | 31.2 | 33.6 | 25.5 | 36.8 | 30.5 | 32.9 | 24.1 | 36.7 | 31.0 | 33.2 | 24.7 |
| 合同负债同比CONTRACT_LIAB_YOY | 6.0% | 5.3% | 4.8% | 7.0% | 9.0% | 11.1% | 14.8% | 14.1% | 11.4% | 10.7% | 7.7% | 5.3% |
| 股东回报（派息+回购）SHAREHOLDER_RETURN | 10.7 | 72.7 | 6.8 | 7.3 | 7.2 | 2.0 | 7.3 | 14.3 | 7.9 | 7.9 | 1.8 | 15.5 |
| 股东回报/自由现金流SHAREHOLDER_RETURN_TO_FCF | 29.5% | 35.0% | 52.9% | 36.2% | 12.7% | 31.2% | 75.4% | 24.9% | 46.0% | 9.0% | 62.5% | |
| 派息率PAYOUT_RATIO | 57.0% | 407.7% | 30.6% | 21.8% | 28.6% | 0.0% | 27.1% | 44.2% | 28.8% | 28.4% | 0.0% | 43.5% |
| 稀释率DILUTION_RATE | 0.1% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.1% | 0.1% | 0.1% | |||
勾稽校验（所示期间）：12 项， 全部通过