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Arhaus, Inc.（ARHS）与BOSTON BEER CO INC（SAM）财务数据对比。点击上方公司名可切换其他公司
BOSTON BEER CO INC的季度营收约是Arhaus, Inc.的1.3倍（$461.6M vs $364.8M），Arhaus, Inc.同比增速更快（5.1% vs -4.1%），过去两年Arhaus, Inc.的营收复合增速更高（11.2% vs -10.7%）
Arhaus, Inc.是源自美国的高端家居零售企业，总部位于俄亥俄州波士顿高地，1986年正式创立。品牌主打可持续理念与工匠级品质，产品品类丰富，采用全渠道模式面向个人消费者及企业客户，覆盖民用与商用家居场景，提供相关产品与配套服务。
波士顿啤酒公司是美国知名酿酒企业，1984年由吉姆·科赫与朗达·卡尔曼联合创立。旗下首款产品以美国开国元勋、独立运动先驱塞缪尔·亚当斯命名，后续陆续推出多个自有品牌，2019年正式完成与角鲨头酿酒厂的合并，是北美精酿啤酒行业的核心参与者之一。
ARHS vs SAM — 直观对比
营收规模更大
SAM
是对方的1.3倍
$364.8M
营收增速更快
ARHS
高出9.2%
-4.1%
两年增速更快
ARHS
近两年复合增速
-10.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $364.8M | $461.6M |
| 净利润 | $15.1M | — |
| 毛利率 | 38.1% | 46.4% |
| 营业利润率 | 5.6% | 12.4% |
| 净利率 | 4.1% | — |
| 营收同比 | 5.1% | -4.1% |
| 净利润同比 | -29.1% | — |
| 每股收益（稀释后） | $0.11 | $2.16 |
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ARHSSAM
| Q1 26 | — | $461.6M | ||
| Q4 25 | $364.8M | $385.7M | ||
| Q3 25 | $344.6M | $537.5M | ||
| Q2 25 | $358.4M | $587.9M | ||
| Q1 25 | $311.4M | $453.9M | ||
| Q4 24 | $347.0M | $402.3M | ||
| Q3 24 | $319.1M | $605.5M | ||
| Q2 24 | $309.8M | $579.1M |
净利润ARHSSAM
| Q1 26 | — | — | ||
| Q4 25 | $15.1M | $-22.5M | ||
| Q3 25 | $12.2M | $46.2M | ||
| Q2 25 | $35.1M | $60.4M | ||
| Q1 25 | $4.9M | $24.4M | ||
| Q4 24 | $21.3M | $-38.8M | ||
| Q3 24 | $9.9M | $33.5M | ||
| Q2 24 | $22.2M | $52.3M |
毛利率ARHSSAM
| Q1 26 | — | 46.4% | ||
| Q4 25 | 38.1% | 43.5% | ||
| Q3 25 | 38.7% | 50.8% | ||
| Q2 25 | 41.4% | 49.8% | ||
| Q1 25 | 37.1% | 48.3% | ||
| Q4 24 | 40.0% | 39.9% | ||
| Q3 24 | 38.6% | 46.3% | ||
| Q2 24 | 40.1% | 46.0% |
营业利润率ARHSSAM
| Q1 26 | — | 12.4% | ||
| Q4 25 | 5.6% | -8.6% | ||
| Q3 25 | 4.8% | 11.5% | ||
| Q2 25 | 13.0% | 14.0% | ||
| Q1 25 | 1.7% | 7.4% | ||
| Q4 24 | 8.2% | -13.9% | ||
| Q3 24 | 3.3% | 7.6% | ||
| Q2 24 | 9.5% | 12.2% |
净利率ARHSSAM
| Q1 26 | — | — | ||
| Q4 25 | 4.1% | -5.8% | ||
| Q3 25 | 3.5% | 8.6% | ||
| Q2 25 | 9.8% | 10.3% | ||
| Q1 25 | 1.6% | 5.4% | ||
| Q4 24 | 6.1% | -9.6% | ||
| Q3 24 | 3.1% | 5.5% | ||
| Q2 24 | 7.2% | 9.0% |
每股收益（稀释后）ARHSSAM
| Q1 26 | — | $2.16 | ||
| Q4 25 | $0.11 | $-1.97 | ||
| Q3 25 | $0.09 | $4.25 | ||
| Q2 25 | $0.25 | $5.45 | ||
| Q1 25 | $0.03 | $2.16 | ||
| Q4 24 | $0.15 | $-3.23 | ||
| Q3 24 | $0.07 | $2.86 | ||
| Q2 24 | $0.16 | $4.39 |
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 | $253.4M | $164.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $418.2M | $682.6M |
| 总资产 | $1.4B | $1.2B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资ARHSSAM
| Q1 26 | — | $164.1M | ||
| Q4 25 | $253.4M | $223.4M | ||
| Q3 25 | $262.2M | $250.5M | ||
| Q2 25 | $234.8M | $212.4M | ||
| Q1 25 | $214.4M | $152.5M | ||
| Q4 24 | $197.5M | $211.8M | ||
| Q3 24 | $177.7M | $255.6M | ||
| Q2 24 | $174.2M | $219.3M |
股东权益ARHSSAM
| Q1 26 | — | $682.6M | ||
| Q4 25 | $418.2M | $846.3M | ||
| Q3 25 | $400.4M | $911.0M | ||
| Q2 25 | $385.6M | $912.3M | ||
| Q1 25 | $348.8M | $897.0M | ||
| Q4 24 | $343.7M | $916.2M | ||
| Q3 24 | $320.6M | $1.0B | ||
| Q2 24 | $309.3M | $1.0B |
总资产ARHSSAM
| Q1 26 | — | $1.2B | ||
| Q4 25 | $1.4B | $1.2B | ||
| Q3 25 | $1.4B | $1.2B | ||
| Q2 25 | $1.3B | $1.3B | ||
| Q1 25 | $1.3B | $1.2B | ||
| Q4 24 | $1.2B | $1.3B | ||
| Q3 24 | $1.2B | $1.4B | ||
| Q2 24 | $1.2B | $1.4B |
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 | $9.3M | — |
| 自由现金流经营现金流 - 资本支出 | $-8.8M | — |
| 自由现金流率自由现金流/营收 | -2.4% | — |
| 资本支出强度资本支出/营收 | 5.0% | — |
| 现金转化率经营现金流/净利润 | 0.62× | — |
| 过去12个月自由现金流最近4个季度 | $59.0M | — |
8季度趋势，按日历期对齐
经营现金流ARHSSAM
| Q1 26 | — | — | ||
| Q4 25 | $9.3M | $39.9M | ||
| Q3 25 | $46.1M | $101.8M | ||
| Q2 25 | $34.9M | $126.5M | ||
| Q1 25 | $46.5M | $1.9M | ||
| Q4 24 | $31.7M | $41.9M | ||
| Q3 24 | $31.1M | $115.9M | ||
| Q2 24 | $47.5M | $96.0M |
自由现金流ARHSSAM
| Q1 26 | — | — | ||
| Q4 25 | $-8.8M | $22.1M | ||
| Q3 25 | $28.0M | $89.2M | ||
| Q2 25 | $20.9M | $112.2M | ||
| Q1 25 | $18.9M | $-8.0M | ||
| Q4 24 | $13.0M | $18.4M | ||
| Q3 24 | $4.6M | $99.2M | ||
| Q2 24 | $11.3M | $75.6M |
自由现金流率ARHSSAM
| Q1 26 | — | — | ||
| Q4 25 | -2.4% | 5.7% | ||
| Q3 25 | 8.1% | 16.6% | ||
| Q2 25 | 5.8% | 19.1% | ||
| Q1 25 | 6.1% | -1.8% | ||
| Q4 24 | 3.7% | 4.6% | ||
| Q3 24 | 1.4% | 16.4% | ||
| Q2 24 | 3.6% | 13.1% |
资本支出强度ARHSSAM
| Q1 26 | — | — | ||
| Q4 25 | 5.0% | 4.6% | ||
| Q3 25 | 5.3% | 2.3% | ||
| Q2 25 | 3.9% | 2.4% | ||
| Q1 25 | 8.9% | 2.2% | ||
| Q4 24 | 5.4% | 5.8% | ||
| Q3 24 | 8.3% | 2.8% | ||
| Q2 24 | 11.7% | 3.5% |
现金转化率ARHSSAM
| Q1 26 | — | — | ||
| Q4 25 | 0.62× | — | ||
| Q3 25 | 3.77× | 2.21× | ||
| Q2 25 | 1.00× | 2.09× | ||
| Q1 25 | 9.53× | 0.08× | ||
| Q4 24 | 1.49× | — | ||
| Q3 24 | 3.14× | 3.46× | ||
| Q2 24 | 2.14× | 1.83× |
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
ARHS
| Sales Channel Retail | $305.7M | 84% |
| Sales Channel E Commerce | $59.2M | 16% |
SAM
暂无分部数据
