Revenue Stability Amid Modest Growth
CHD posted Q1 2026 revenue of $1,469.3M, up just 0.1% YoY from $1,467.1M, indicating a largely stable top line with limited organic growth momentum in the quarter.
来源: 10-Q Income Statement
该报告暂无中文版，以下为英文版分析。
按公开的固定规则计算，不是模型的主观判断——但其中一项输入（高等级风险的条数）取自下方的 AI 分析。
非投资建议，也不是目标价——评的是本季基本面，不是股价。 完整方法论 →
AI核心结论
Church & Dwight (CHD) delivered essentially flat Q1 2026 revenue of $1.47B with improved gross margins of 46.4% (+140bps YoY), but net income slipped 1.7% to $216.3M as a 10.2% surge in SG&A expenses and lower cash balances weighed on overall profitability.
营收
14.69亿美元
同比 +0.15%
每股收益（稀释）
0.91美元
同比 +2.25%
毛利率
46.4%
同比 +1.4 个百分点
营业利润
2.91亿美元
同比 -1.46%
SEC XBRL 原值
Church & Dwight (CHD) Q1 FY2026 营收 14.69亿美元，同比增长 0.1%。 营业利润率 19.8%，较去年同期的 20.1% 收窄 0.3 个百分点。 经营活动现金流 1.75亿美元，同比下降 5.9%。 CHD 的财年 Q1 FY2026 对应日历 Q1 2026。
近 4 个季度：3 次超预期
| 季度 | 实际 EPS（美元） | 市场预期（美元） | 结果 |
|---|---|---|---|
| 2026年6月 | 0.89 | 0.91 | 不及预期 -1.7% |
| 2026年3月本次财报 | 0.95 | 0.94 | 超预期 +1.0% |
| 2025年12月 | 0.86 | 0.84 | 超预期 +1.8% |
| 2025年9月 | 0.81 | 0.74 | 超预期 +8.8% |
2026年3月 调整后（非 GAAP） EPS 0.95美元，分析师一致预期 0.94美元，超预期 +1.0%。 分析师一致预期按市场通行的调整后（非 GAAP）口径。本季 GAAP 稀释每股收益为 0.91美元。
由 AI 基于本次 SEC 报告整理
CHD posted Q1 2026 revenue of $1,469.3M, up just 0.1% YoY from $1,467.1M, indicating a largely stable top line with limited organic growth momentum in the quarter.
来源: 10-Q Income Statement
Gross profit rose 3.3% YoY to $681.4M, pushing gross margin to 46.4% from 45.0% a year ago — a 140bps improvement — as cost of revenue declined 2.4% YoY to $787.9M, suggesting easing commodity or supply chain pressures.
来源: 10-Q Income Statement
SG&A expenses jumped 10.2% YoY to $251.0M from $227.7M, materially offsetting gross margin improvements and contributing to a 1.5% decline in operating income to $291.0M and a contraction in operating margin to 19.8% from 20.1%.
来源: 10-Q Income Statement
Cash & equivalents fell sharply by 53.2% YoY to $503.4M from $1,074.5M, while total liabilities increased 9.4% YoY to $4,820.5M and current liabilities rose 17.0% to $1,413.4M, reflecting potential deployment of cash for capital allocation or debt-related activities.
来源: 10-Q Balance Sheet
Operating cash flow decreased 5.9% YoY to $174.8M, while dividends paid remained steady at $72.9M (+0.7% YoY), indicating the company continues to prioritize shareholder returns despite softer cash generation.
来源: 10-Q Cash Flow Statement
由 AI 基于本次 SEC 报告整理 · 高 2 中 3 低 0
SG&A expenses surged 10.2% YoY to $251.0M in Q1 2026, significantly outpacing revenue growth of just 0.1%. If this elevated spending trajectory continues without a corresponding revenue acceleration, operating margins could face sustained compression from the current 19.8% level.
来源: 10-Q Income Statement
Cash & equivalents declined 53.2% YoY to $503.4M, while current liabilities rose 17.0% to $1,413.4M, resulting in a current ratio of only 1.22. This tightening liquidity position reduces the company's financial flexibility to respond to unexpected operational or market disruptions.
来源: 10-Q Balance Sheet
Total liabilities grew 9.4% YoY to $4,820.5M, pushing the debt-to-equity ratio to 1.15, while stockholders' equity declined 8.0% YoY to $4,186.0M. This increasing leverage could constrain future borrowing capacity and raise interest expense risk if rates remain elevated.
来源: 10-Q Balance Sheet
Operating cash flow fell 5.9% YoY to $174.8M while investing cash outflows nearly doubled to -$33.5M, compressing free cash flow. With dividends of $72.9M already committed, the remaining discretionary cash is limited for debt reduction or strategic investments.
来源: 10-Q Cash Flow Statement
Revenue grew only 0.1% YoY to $1,469.3M, suggesting limited pricing power or volume growth in CHD's consumer product categories. Without meaningful top-line acceleration, the company's ability to absorb rising operating costs and grow earnings is constrained.
来源: 10-Q Income Statement
| 指标 | 当期 | 上期 | 同比变化 |
|---|---|---|---|
营收 亿美元 | 14.69 亿美元 | 14.67 亿美元 | +0.15% |
营业成本 亿美元 | 7.88 亿美元 | 8.08 亿美元 | -2.43% |
毛利润 亿美元 | 6.81 亿美元 | 6.60 亿美元 | +3.31% |
营业利润 亿美元 | 2.91 亿美元 | 2.95 亿美元 | -1.46% |
净利润 亿美元 | 2.16 亿美元 | 2.20 亿美元 | -1.73% |
每股收益（基本） 美元 | 0.91 美元 | 0.90 美元 | +1.11% |
每股收益（稀释） 美元 | 0.91 美元 | 0.89 美元 | +2.25% |
研发费用 万美元 | 3160.00 万美元 | 3280.00 万美元 | -3.66% |
销售及管理费用 亿美元 | 2.51 亿美元 | 2.28 亿美元 | +10.23% |
答案基于本次 SEC 报告与本页数据