The Kraft Heinz Company (KHC)财务
NYSE · Consumer Defensive · Packaged Foods · 员工35,000人 · CEO Steven A. Cahillane
- 股价
- $24.34 +1.84%
- 市值
- $289亿
- 企业价值
- $454亿
- 最近财报
- Q2 '26 2026-08-05提交
- 下次财报
- 2026-11-04 EPS预期 $0.42
营收(TTM)$249亿-1.6% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)-12.8%+14.6 百分点 对比去年同期营业利润 -$31.8亿
净利润(TTM)-$34亿+35.6% 对比去年同期税后,含营业外收益
自由现金流(TTM)$38.2亿+9.2% 对比去年同期资本支出 $8.05亿
稀释EPS(TTM)-$2.86+36.3% 对比去年同期最近4个季度之和
净现金-$163亿+12.5% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $289亿 EV $454亿
- 营收
- $249亿 过去12个月
- 营收增速
- -1% FY2026年一致预期
- 净利润率
- -13.6% 净利润 / 营收,TTM
- P/E
- -8.5× 预期 11.9×(FY2026)
- P/S
- 1.2× 股价 / 营收,TTM
- EV / EBITDA
- -23.5× TTM
- 自由现金流
- $38.2亿 过去12个月
- 净利润
- -$34亿 过去12个月
- 营收预期
- $247亿 FY2026年一致预期
- 盈利
- 2026-11-04 营收预期 $60.9亿
- 股息
- $1.60 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-08-05):营收超预期1.4%,EPS 超预期3.5%营收$62.6亿,预期$61.8亿(+1.4%);EPS $0.56,预期$0.54(+3.5%)。
- 营收增长平稳:同比-1.4%Q2 '26营收$62.6亿,此前四个季度的平均值为-1.7%。
- 营业利润率-12.8%(TTM),较去年同期+14.6 百分点营收增长-1.6%,营业利润增长54.1%。
- 资本支出占营收的3.2%(去年为3.6%)最近4个季度投入$8.05亿(同比-11.1%)。自由现金流$38.2亿。
- 股东回报$14.9亿 = 自由现金流的39.0%回购-$4.07亿(去年为$8.86亿),股息$19亿,股权激励$9500万(TTM)。
- 稀释股数一年内增加0.1%Q2 '26稀释股数11.9亿,一年前为11.9亿。
- 净债务 $163亿现金 + 短期投资 $26.8亿,含租赁债务 $190亿;一年前净债务 $186亿。
上一季度:Q2 '26
截至2026-06-27的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q2 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $62.6亿 | $63.5亿 | -1.4% |
| 毛利率 | 32.4% | 34.4% | -2.0 百分点 |
| 营业利润 | -$64.3亿 | -$79.7亿 | +19.4% |
| 营业利润率 | -102.7% | -125.5% | +22.8 百分点 |
| 净利润 | -$54.6亿 | -$78.2亿 | +30.2% |
| 稀释EPS | -$4.60 | -$6.60 | +30.3% |
| 经营现金流 | $10.8亿 | $12.1亿 | -10.5% |
| 资本支出 | $1.89亿 | $1.87亿 | +1.1% |
| 自由现金流 | $8.93亿 | $10.2亿 | -12.6% |
| R&D | $0 | $0 | – |
| 股权激励费用 | $3100万 | $2600万 | +19.2% |
实际 vs 一致预期
2026-08-05| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $62.6亿 | $61.8亿 | +1.4% |
| EPS(一致预期口径) | $0.56 | $0.54 | +3.5% |
来自2026-08-05发布的Q2 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q2 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Taste Elevation | – | – | – | – | – | |
| Condiments, Sauces, and Spreads | $29亿 | – | 46.3% | – | – | |
| Easy Ready Meals | – | – | – | – | – | |
| Cheese and dairy | – | – | – | – | – | |
| Ambient Meals and Sides | $6.79亿 | – | 10.8% | – | – | |
| Hydration | – | – | – | – | – | |
| Meats | $4.81亿 | -8.9% | 7.7% | $18.6亿 | -8.8% | |
| Refreshment Beverages | $5.84亿 | – | 9.3% | – | – | |
| Substantial Snacking | – | – | – | – | – | |
| Frozen Meals and Sides | $3.63亿 | – | 5.8% | – | – | |
| Cheese | $3.96亿 | – | 6.3% | – | – | |
| Desserts, toppings and baking | – | – | – | – | – | |
| Refrigerated Snacks | $2.98亿 | – | 4.8% | – | – | |
| Other products | – | – | – | – | – | |
| Desserts | $2.81亿 | – | 4.5% | – | – | |
| Coffee | $2.25亿 | +8.7% | 3.6% | $8.97亿 | +6.9% | |
| Other Category | $5800万 | – | 0.9% | – | – |
按地区划分的营收
占总额比例| 分部 | Q2 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| North America Segment | $46.3亿 | -2.8% | 73.9% | – | – | |
| International Developed Markets Segment | $8.65亿 | -3.6% | 13.8% | – | – | |
| Emerging Markets | $7.71亿 | +10.5% | 12.3% | – | – |
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $46.2亿
- 资本支出
- -$8.05亿
- 股票回购
- $4.07亿
- 股息
- -$19亿
- 收购
- $1.46亿
- 债务净发行
- -$18.3亿
- 股权激励费用
- $9500万
- 自由现金流
- $38.2亿
- 股东回报 / FCF
- 39.0%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | -8.5× | 23.2× 5年中的4年 | 13.5× – 42.5× |
| EV / EBITDA | -23.5× | 14.9× 5年中的4年 | 11.6× – 20.5× |
| EV / 营收 | 1.8× | 2.3× | 1.9× – 2.6× |
| 股价 / FCF | 7.6× | 15.3× | 7.8× – 32.1× |
| 股价 / 净资产 | 0.8× | 0.9× | 0.7× – 1.0× |
| FCF收益率 | 13.2% | 8.3% | 3.1% – 12.8% |
| 投入资本回报率 | -4.5% | 1.2% | -6.2% – 4.3% |
| 净资产收益率 | -8.4% | 0.8% | -14.0% – 5.8% |
分析师
一致目标价 $24.38 (+0.2%)
区间 $21.00 – $32.00 · 评级 Hold
强烈买入0
买入4
持有20
卖出11
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $247亿 | -1.1% | $2.05 | +141.5% | 11.9× | 11 |
| FY2027 | $247亿 | +0.1% | $2.06 | +0.5% | 11.8× | 11 |
| FY2028 | $250亿 | +1.3% | $2.13 | +3.6% | 11.4× | 3 |
| FY2029 | $251亿 | +0.3% | $2.19 | +2.8% | 11.1× | 1 |
| FY2030 | $252亿 | +0.5% | $2.24 | +2.2% | 10.9× | 1 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
The Kraft Heinz Company在近期10-Q / 10-K文件中标记的全部341项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable, Trade | $8.68亿 | $7.52亿 | +15.4% | $7.55亿 | $7.45亿 | +1.3% |
| Accounts Payable, Trade, Current | $44.8亿 | $43.4亿 | +3.2% | $43.1亿 | $41.9亿 | +2.9% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $22.9亿 | $23.4亿 | -2.5% | $22.5亿 | $21.5亿 | +5.0% |
| Accounts Receivable, Allowance for Credit Loss | $3400万 | $2600万 | +30.8% | $3400万 | $2600万 | +30.8% |
| Accrued Marketing Costs, Current | $9.9亿 | $7.49亿 | +32.2% | $8.01亿 | $6.97亿 | +14.9% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$24.6亿 | -$23.2亿 | -6.0% | -$23.7亿 | -$29.2亿 | +18.7% |
| Additional Paid in Capital | $504亿 | $522亿 | -3.5% | $513亿 | $521亿 | -1.6% |
| Adjustments to Additional Paid in Capital, Dividends in Excess of Retained Earnings | $4.77亿 | – | – | – | – | – |
| Advertising Expense | – | – | – | $10.7亿 | $10.3亿 | +4.1% |
| Amortization of Debt Discount (Premium) | – | – | – | $1500万 | $1600万 | -6.3% |
| Amortization of Debt Issuance Costs | – | – | – | $1200万 | $1200万 | 0.0% |
| Amortization of Intangible Assets | $6200万 | $6200万 | 0.0% | $2.46亿 | $2.52亿 | -2.4% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1700万 | 1400万 | +21.4% | 1400万 | 600万 | +133.3% |
| Asset Impairment Charges | $73.5亿 | $92.7亿 | -20.7% | $93.1亿 | $36.7亿 | +153.6% |
| Assets | $731亿 | $816亿 | -10.4% | $818亿 | $883亿 | -7.4% |
| Assets, Current | $92.5亿 | $92.4亿 | +0.1% | $101亿 | $76.6亿 | +32.3% |
| Cash and Cash Equivalents, at Carrying Value | $24.2亿 | $15.7亿 | +54.4% | $26.2亿 | $13.3亿 | +96.0% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $26.9亿 | $17.1亿 | +57.1% | $29.4亿 | $14.9亿 | +98.1% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$9.27亿 | -$5.51亿 | -68.2% | $14.6亿 | $8200万 | +1,678.0% |
| Common Stock, Dividends, Per Share, Declared | $0.40 | $0.40 | 0.0% | $1.60 | $1.60 | 0.0% |
| Common Stock, Par or Stated Value Per Share | $0.01 | $0.01 | 0.0% | $0.01 | $0.01 | 0.0% |
| Common Stock, Shares Authorized | 50亿 | 50亿 | 0.0% | 50亿 | 50亿 | 0.0% |
| Common Stock, Shares, Issued | 12.6亿 | 12.6亿 | +0.2% | 12.6亿 | 12.5亿 | +0.2% |
| Common Stock, Shares, Outstanding | 11.9亿 | 11.8亿 | +0.2% | 11.8亿 | 12亿 | -0.9% |
| Common Stock, Value, Issued | $1200万 | $1200万 | 0.0% | $1200万 | $1200万 | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | -$500万 | -$1100万 | +54.5% | -$1300万 | -$2500万 | +48.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | -$54.7亿 | -$74.5亿 | +26.6% | -$53亿 | $24.3亿 | -317.9% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | -$54.8亿 | -$74.6亿 | +26.6% | -$53.1亿 | $24.1亿 | -320.7% |
| Construction in Progress, Gross | $6.25亿 | $6.25亿 | 0.0% | $6.25亿 | $6.25亿 | 0.0% |
| Cost of Goods and Services Sold | $42.3亿 | $41.7亿 | +1.6% | $166亿 | $169亿 | -1.5% |
| Current Federal Tax Expense (Benefit) | – | – | – | $4.59亿 | $6.27亿 | -26.8% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $3.64亿 | $2.84亿 | +28.2% |
| Current Income Tax Expense (Benefit) | – | – | – | $8.98亿 | $9.67亿 | -7.1% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $7500万 | $5600万 | +33.9% |
| Debt Instrument, Interest Rate, Stated Percentage | – | – | – | 3.5%2024-03-01 | – | – |
| Debt Instrument, Unamortized Discount (Premium), Net | -$1.94亿2025-12-27 | -$2.17亿 | +10.6% | -$1.94亿 | -$2.17亿 | +10.6% |
| Debt Securities, Available-for-sale | $3.66亿 | $10.1亿 | -63.8% | $12.8亿 | – | – |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | $0 | $0 | – | $0 | – | – |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | $0 | $100万 | -100.0% | $0 | – | – |
| Debt Securities, Available-for-sale, Amortized Cost | $3.66亿 | $10.1亿 | -63.8% | $12.8亿 | – | – |
| Debt Securities, Held-to-Maturity, Accrued Interest, before Allowance for Credit Loss | $200万 | $1100万 | -81.8% | $400万 | – | – |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | -$5.02亿 | -$4.17亿 | -20.4% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | $9200万 | -$23.6亿 | +103.9% |
| Deferred Income Tax Expense (Benefit) | -$12亿 | -$6.46亿 | -85.1% | -$4.95亿 | -$28.6亿 | +82.7% |
| Deferred Income Tax Liabilities, Net | $78.5亿 | $91亿 | -13.8% | $90.2亿 | $96.8亿 | -6.8% |
| Deferred Income, Noncurrent | $12.9亿 | $13.5亿 | -4.2% | $13.2亿 | $13.7亿 | -3.9% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | -$8500万 | -$7900万 | -7.6% |
| Deferred Tax Assets, Deferred Income | $3.17亿2025-12-27 | $2.77亿 | +14.4% | $3.17亿 | $2.77亿 | +14.4% |
| Deferred Tax Assets, Goodwill and Intangible Assets | $31.7亿2025-12-27 | $29.6亿 | +7.2% | $31.7亿 | $29.6亿 | +7.2% |
| Deferred Tax Assets, Gross | $44.6亿2025-12-27 | $41.2亿 | +8.3% | $44.6亿 | $41.2亿 | +8.3% |
| Deferred Tax Assets, Operating Loss Carryforwards, Foreign | $2.74亿2025-12-27 | $2.43亿 | +12.8% | $2.74亿 | $2.43亿 | +12.8% |
| Deferred Tax Assets, Operating Loss Carryforwards, Not Subject to Expiration | $9.04亿2025-12-27 | $7.74亿 | +16.8% | $9.04亿 | $7.74亿 | +16.8% |
| Deferred Tax Assets, Operating Loss Carryforwards, State and Local | $2600万2025-12-27 | $2100万 | +23.8% | $2600万 | $2100万 | +23.8% |
| Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration | $5200万2025-12-27 | $6200万 | -16.1% | $5200万 | $6200万 | -16.1% |
| Deferred Tax Assets, Other | $5.45亿2025-12-27 | $4.41亿 | +23.6% | $5.45亿 | $4.41亿 | +23.6% |
| Deferred Tax Assets, Tax Credit Carryforwards | $2500万2025-12-27 | $3900万 | -35.9% | $2500万 | $3900万 | -35.9% |
| Deferred Tax Assets, Tax Credit Carryforwards, Foreign | $1400万2025-12-27 | $2200万 | -36.4% | $1400万 | $2200万 | -36.4% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits | $3.17亿2025-12-27 | $3.28亿 | -3.4% | $3.17亿 | $3.28亿 | -3.4% |
| Deferred Tax Assets, Valuation Allowance | $9.32亿2025-12-27 | $8.51亿 | +9.5% | $9.32亿 | $8.51亿 | +9.5% |
| Deferred Tax Liabilities, Gross | $99.1亿2025-12-27 | $105亿 | -5.5% | $99.1亿 | $105亿 | -5.5% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标和预期均根据公司文件标准化。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-06-27, 10-Q 2026-03-28, 10-K 2025-12-27, 10-Q 2025-09-27, 10-Q 2025-06-28, 10-Q 2025-03-29, 10-K 2024-12-28, 10-Q 2024-09-28, 10-Q 2024-06-29
数据截至 2026-11-02