vs
ABERCROMBIE & FITCH CO（ANF）与Constellation Brands（STZ）财务数据对比。点击上方公司名可切换其他公司
Constellation Brands的季度营收约是ABERCROMBIE & FITCH CO的1.7倍（$2.2B vs $1.3B），Constellation Brands净利率更高（22.6% vs 8.8%，领先13.9%），ABERCROMBIE & FITCH CO同比增速更快（6.8% vs -9.8%），Constellation Brands自由现金流更多（$370.9M vs $131.8M），过去两年Constellation Brands的营收复合增速更高（1.9% vs -5.8%）
A&F（阿伯克龙比与菲奇）是1892年成立的美国生活方式零售品牌，主打面向20岁出头至45岁左右客群的潮流服饰，总部位于俄亥俄州新奥尔巴尼。旗下运营Abercrombie Kids、Your Personal Best、霍利斯特（Hollister Co.）、Gilly Hicks四个子品牌，全品牌直营门店超780家。
Constellation Brands, Inc.是总部位于美国纽约州罗切斯特的《财富》500强企业，主营啤酒、葡萄酒及烈酒的生产与营销，按销售额计算是美国最大的啤酒进口商，在全美主要啤酒供应商中市场份额位列第三。公司还通过与Canopy Growth合作在医用及娱乐大麻领域有大额投资，现有约40处设施、近9000名员工。
ANF vs STZ — 直观对比
损益表 — Q3 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $2.2B |
| 净利润 | $113.0M | $502.8M |
| 毛利率 | 62.5% | 53.2% |
| 营业利润率 | 12.0% | 31.1% |
| 净利率 | 8.8% | 22.6% |
| 营收同比 | 6.8% | -9.8% |
| 净利润同比 | -14.4% | -18.4% |
| 每股收益（稀释后） | $2.36 | — |
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
| Q4 25 | $1.3B | $2.2B | ||
| Q3 25 | $1.2B | $2.5B | ||
| Q2 25 | $1.1B | $2.5B | ||
| Q1 25 | $1.6B | $2.2B | ||
| Q4 24 | $1.2B | $2.5B | ||
| Q3 24 | $1.1B | $2.9B | ||
| Q2 24 | $1.0B | $2.7B | ||
| Q1 24 | $1.5B | $2.1B |
| Q4 25 | $113.0M | $502.8M | ||
| Q3 25 | $141.4M | $466.0M | ||
| Q2 25 | $80.4M | $516.1M | ||
| Q1 25 | $187.2M | $-375.3M | ||
| Q4 24 | $132.0M | $615.9M | ||
| Q3 24 | $133.2M | $-1.2B | ||
| Q2 24 | $113.8M | $877.0M | ||
| Q1 24 | $158.4M | $392.4M |
| Q4 25 | 62.5% | 53.2% | ||
| Q3 25 | 62.6% | 52.8% | ||
| Q2 25 | 62.0% | 50.4% | ||
| Q1 25 | — | 51.5% | ||
| Q4 24 | 65.1% | 52.1% | ||
| Q3 24 | 64.9% | 51.8% | ||
| Q2 24 | 66.4% | 52.7% | ||
| Q1 24 | 62.9% | 48.6% |
| Q4 25 | 12.0% | 31.1% | ||
| Q3 25 | 17.1% | 35.2% | ||
| Q2 25 | 9.3% | 28.4% | ||
| Q1 25 | 16.2% | -6.9% | ||
| Q4 24 | 14.8% | 32.2% | ||
| Q3 24 | 15.5% | -42.1% | ||
| Q2 24 | 12.7% | 35.4% | ||
| Q1 24 | 15.3% | 29.4% |
| Q4 25 | 8.8% | 22.6% | ||
| Q3 25 | 11.7% | 18.8% | ||
| Q2 25 | 7.3% | 20.5% | ||
| Q1 25 | 11.8% | -17.3% | ||
| Q4 24 | 10.9% | 25.0% | ||
| Q3 24 | 11.7% | -41.1% | ||
| Q2 24 | 11.2% | 32.9% | ||
| Q1 24 | 10.9% | 18.3% |
| Q4 25 | $2.36 | — | ||
| Q3 25 | $2.91 | — | ||
| Q2 25 | $1.59 | — | ||
| Q1 25 | $3.55 | — | ||
| Q4 24 | $2.50 | — | ||
| Q3 24 | $2.50 | — | ||
| Q2 24 | $2.14 | — | ||
| Q1 24 | $2.97 | — |
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 | $631.0M | $152.4M |
| 总债务越低越好 | — | $10.3B |
| 股东权益账面价值 | $1.3B | $7.7B |
| 总资产 | $3.5B | $21.7B |
| 负债/权益比越低杠杆越低 | — | 1.33× |
8季度趋势，按日历期对齐
| Q4 25 | $631.0M | $152.4M | ||
| Q3 25 | $603.5M | $72.0M | ||
| Q2 25 | $607.6M | $73.9M | ||
| Q1 25 | $888.9M | $68.1M | ||
| Q4 24 | $738.9M | $73.7M | ||
| Q3 24 | $738.4M | $64.6M | ||
| Q2 24 | $864.2M | $73.8M | ||
| Q1 24 | $900.9M | $152.4M |
| Q4 25 | — | $10.3B | ||
| Q3 25 | — | $10.3B | ||
| Q2 25 | — | $11.2B | ||
| Q1 25 | — | $10.7B | ||
| Q4 24 | — | $10.7B | ||
| Q3 24 | — | $11.1B | ||
| Q2 24 | — | $11.1B | ||
| Q1 24 | — | $11.6B |
| Q4 25 | $1.3B | $7.7B | ||
| Q3 25 | $1.3B | $7.5B | ||
| Q2 25 | $1.2B | $7.3B | ||
| Q1 25 | $1.3B | $6.9B | ||
| Q4 24 | $1.2B | $7.8B | ||
| Q3 24 | $1.2B | $7.9B | ||
| Q2 24 | $1.1B | $10.3B | ||
| Q1 24 | $1.0B | $9.7B |
| Q4 25 | $3.5B | $21.7B | ||
| Q3 25 | $3.3B | $21.4B | ||
| Q2 25 | $3.1B | $22.3B | ||
| Q1 25 | $3.3B | $21.7B | ||
| Q4 24 | $3.3B | $22.8B | ||
| Q3 24 | $3.0B | $23.1B | ||
| Q2 24 | $3.0B | $26.1B | ||
| Q1 24 | $3.0B | $25.7B |
| Q4 25 | — | 1.33× | ||
| Q3 25 | — | 1.37× | ||
| Q2 25 | — | 1.54× | ||
| Q1 25 | — | 1.55× | ||
| Q4 24 | — | 1.37× | ||
| Q3 24 | — | 1.41× | ||
| Q2 24 | — | 1.08× | ||
| Q1 24 | — | 1.19× |
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 | $200.1M | $616.9M |
| 自由现金流经营现金流 - 资本支出 | $131.8M | $370.9M |
| 自由现金流率自由现金流/营收 | 10.2% | 16.7% |
| 资本支出强度资本支出/营收 | 5.3% | 11.1% |
| 现金转化率经营现金流/净利润 | 1.77× | 1.23× |
| 过去12个月自由现金流最近4个季度 | $384.5M | $1.8B |
8季度趋势，按日历期对齐
| Q4 25 | $200.1M | $616.9M | ||
| Q3 25 | $116.9M | $852.1M | ||
| Q2 25 | $-4.0M | $637.2M | ||
| Q1 25 | $307.6M | $594.7M | ||
| Q4 24 | $142.6M | $685.2M | ||
| Q3 24 | $165.1M | $1.2B | ||
| Q2 24 | $95.0M | $690.5M | ||
| Q1 24 | $303.3M | $433.2M |
| Q4 25 | $131.8M | $370.9M | ||
| Q3 25 | $50.7M | $634.8M | ||
| Q2 25 | $-54.8M | $444.4M | ||
| Q1 25 | $256.8M | $312.1M | ||
| Q4 24 | $92.2M | $456.8M | ||
| Q3 24 | $122.3M | $854.0M | ||
| Q2 24 | $56.1M | $315.2M | ||
| Q1 24 | $274.1M | $76.0M |
| Q4 25 | 10.2% | 16.7% | ||
| Q3 25 | 4.2% | 25.6% | ||
| Q2 25 | -5.0% | 17.7% | ||
| Q1 25 | 16.2% | 14.4% | ||
| Q4 24 | 7.6% | 18.5% | ||
| Q3 24 | 10.8% | 29.3% | ||
| Q2 24 | 5.5% | 11.8% | ||
| Q1 24 | 18.9% | 3.6% |
| Q4 25 | 5.3% | 11.1% | ||
| Q3 25 | 5.5% | 8.8% | ||
| Q2 25 | 4.6% | 7.7% | ||
| Q1 25 | 3.2% | 13.1% | ||
| Q4 24 | 4.2% | 9.3% | ||
| Q3 24 | 3.8% | 11.2% | ||
| Q2 24 | 3.8% | 14.1% | ||
| Q1 24 | 2.0% | 16.7% |
| Q4 25 | 1.77× | 1.23× | ||
| Q3 25 | 0.83× | 1.83× | ||
| Q2 25 | -0.05× | 1.23× | ||
| Q1 25 | 1.64× | — | ||
| Q4 24 | 1.08× | 1.11× | ||
| Q3 24 | 1.24× | — | ||
| Q2 24 | 0.83× | 0.79× | ||
| Q1 24 | 1.91× | 1.10× |
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
ANF
| Hollister | $673.3M | 52% |
| Abercrombie | $617.3M | 48% |
| Gift Card | $25.7M | 2% |
| Royalty | $19.5M | 2% |
STZ
| Beer | $2.0B | 90% |
| Constellation Wines And Spirits | $213.1M | 10% |
