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亚玛芬体育（AS）与TopBuild Corp（BLD）财务数据对比。点击上方公司名可切换其他公司
TopBuild Corp的季度营收约是亚玛芬体育的1.4倍（$1.5B vs $1.1B），TopBuild Corp净利率更高（7.0% vs 1.8%，领先5.2%），TopBuild Corp自由现金流更多（$159.4M vs $92.2M）
亚玛芬体育是芬兰跨国运动装备企业，总部位于赫尔辛基，成立于1950年。早年为涉足烟草贸易、航运、出版等领域的多元化工业集团，后逐步转型专注于体育用品的生产与营销，现有员工超9700人，2018年起成为中国安踏体育旗下子公司。
HashiCorp是总部位于美国加利福尼亚州旧金山的软件企业，2012年由米切尔·桥本与阿蒙·达德加创立，采用免费增值商业模式，为开发、运维及安全从业人员提供云基础设施配置、防护、运行与连接相关的工具及产品。
AS vs BLD — 直观对比
营收规模更大
BLD
是对方的1.4倍
$1.1B
净利率更高
BLD
高出5.2%
1.8%
自由现金流更多
BLD
多$67.2M
$92.2M
损益表 — Q1 FY2024 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.5B |
| 净利润 | $19.0M | $104.5M |
| 毛利率 | 52.8% | 27.2% |
| 营业利润率 | 12.4% | 12.1% |
| 净利率 | 1.8% | 7.0% |
| 营收同比 | — | 13.2% |
| 净利润同比 | — | -30.6% |
| 每股收益（稀释后） | $0.05 | $3.69 |
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ASBLD
| Q4 25 | — | $1.5B | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | — | $1.3B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | $1.4B | ||
| Q1 24 | $1.1B | $1.3B |
净利润ASBLD
| Q4 25 | — | $104.5M | ||
| Q3 25 | — | $142.2M | ||
| Q2 25 | — | $151.6M | ||
| Q1 25 | — | $123.4M | ||
| Q4 24 | — | $150.5M | ||
| Q3 24 | — | $169.0M | ||
| Q2 24 | — | $150.7M | ||
| Q1 24 | $19.0M | $152.4M |
毛利率ASBLD
| Q4 25 | — | 27.2% | ||
| Q3 25 | — | 30.1% | ||
| Q2 25 | — | 30.4% | ||
| Q1 25 | — | 28.5% | ||
| Q4 24 | — | 29.9% | ||
| Q3 24 | — | 30.7% | ||
| Q2 24 | — | 31.0% | ||
| Q1 24 | 52.8% | 30.3% |
营业利润率ASBLD
| Q4 25 | — | 12.1% | ||
| Q3 25 | — | 15.4% | ||
| Q2 25 | — | 16.9% | ||
| Q1 25 | — | 14.4% | ||
| Q4 24 | — | 16.6% | ||
| Q3 24 | — | 17.8% | ||
| Q2 24 | — | 15.4% | ||
| Q1 24 | 12.4% | 16.8% |
净利率ASBLD
| Q4 25 | — | 7.0% | ||
| Q3 25 | — | 10.2% | ||
| Q2 25 | — | 11.7% | ||
| Q1 25 | — | 10.0% | ||
| Q4 24 | — | 11.5% | ||
| Q3 24 | — | 12.3% | ||
| Q2 24 | — | 11.0% | ||
| Q1 24 | 1.8% | 11.9% |
每股收益（稀释后）ASBLD
| Q4 25 | — | $3.69 | ||
| Q3 25 | — | $5.04 | ||
| Q2 25 | — | $5.32 | ||
| Q1 25 | — | $4.23 | ||
| Q4 24 | — | $5.07 | ||
| Q3 24 | — | $5.65 | ||
| Q2 24 | — | $4.78 | ||
| Q1 24 | $0.05 | $4.79 |
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 | — | $184.7M |
| 总债务越低越好 | — | $2.8B |
| 股东权益账面价值 | — | $2.3B |
| 总资产 | — | $6.6B |
| 负债/权益比越低杠杆越低 | — | 1.23× |
8季度趋势，按日历期对齐
现金及短期投资ASBLD
| Q4 25 | — | $184.7M | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $842.5M | ||
| Q1 25 | — | $308.8M | ||
| Q4 24 | — | $400.3M | ||
| Q3 24 | — | $257.3M | ||
| Q2 24 | — | $463.2M | ||
| Q1 24 | — | $968.8M |
总债务ASBLD
| Q4 25 | — | $2.8B | ||
| Q3 25 | — | $2.9B | ||
| Q2 25 | — | $1.9B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | $1.4B | ||
| Q1 24 | — | $1.4B |
股东权益ASBLD
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | $2.2B | ||
| Q2 25 | — | $2.1B | ||
| Q1 25 | — | $2.1B | ||
| Q4 24 | — | $2.2B | ||
| Q3 24 | — | $2.1B | ||
| Q2 24 | — | $2.4B | ||
| Q1 24 | — | $2.7B |
总资产ASBLD
| Q4 25 | — | $6.6B | ||
| Q3 25 | — | $6.4B | ||
| Q2 25 | — | $5.1B | ||
| Q1 25 | — | $4.6B | ||
| Q4 24 | — | $4.7B | ||
| Q3 24 | — | $4.7B | ||
| Q2 24 | — | $4.9B | ||
| Q1 24 | — | $5.3B |
负债/权益比ASBLD
| Q4 25 | — | 1.23× | ||
| Q3 25 | — | 1.29× | ||
| Q2 25 | — | 0.88× | ||
| Q1 25 | — | 0.65× | ||
| Q4 24 | — | 0.62× | ||
| Q3 24 | — | 0.66× | ||
| Q2 24 | — | 0.59× | ||
| Q1 24 | — | 0.52× |
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 | $114.3M | $176.7M |
| 自由现金流经营现金流 - 资本支出 | $92.2M | $159.4M |
| 自由现金流率自由现金流/营收 | 8.8% | 10.7% |
| 资本支出强度资本支出/营收 | 2.1% | 1.2% |
| 现金转化率经营现金流/净利润 | 6.02× | 1.69× |
| 过去12个月自由现金流最近4个季度 | — | $696.9M |
8季度趋势，按日历期对齐
经营现金流ASBLD
| Q4 25 | — | $176.7M | ||
| Q3 25 | — | $233.3M | ||
| Q2 25 | — | $193.7M | ||
| Q1 25 | — | $152.6M | ||
| Q4 24 | — | $266.2M | ||
| Q3 24 | — | $240.7M | ||
| Q2 24 | — | $90.4M | ||
| Q1 24 | $114.3M | $178.8M |
自由现金流ASBLD
| Q4 25 | — | $159.4M | ||
| Q3 25 | — | $216.2M | ||
| Q2 25 | — | $182.2M | ||
| Q1 25 | — | $139.2M | ||
| Q4 24 | — | $253.7M | ||
| Q3 24 | — | $219.8M | ||
| Q2 24 | — | $74.3M | ||
| Q1 24 | $92.2M | $158.9M |
自由现金流率ASBLD
| Q4 25 | — | 10.7% | ||
| Q3 25 | — | 15.5% | ||
| Q2 25 | — | 14.0% | ||
| Q1 25 | — | 11.3% | ||
| Q4 24 | — | 19.3% | ||
| Q3 24 | — | 16.0% | ||
| Q2 24 | — | 5.4% | ||
| Q1 24 | 8.8% | 12.4% |
资本支出强度ASBLD
| Q4 25 | — | 1.2% | ||
| Q3 25 | — | 1.2% | ||
| Q2 25 | — | 0.9% | ||
| Q1 25 | — | 1.1% | ||
| Q4 24 | — | 1.0% | ||
| Q3 24 | — | 1.5% | ||
| Q2 24 | — | 1.2% | ||
| Q1 24 | 2.1% | 1.6% |
现金转化率ASBLD
| Q4 25 | — | 1.69× | ||
| Q3 25 | — | 1.64× | ||
| Q2 25 | — | 1.28× | ||
| Q1 25 | — | 1.24× | ||
| Q4 24 | — | 1.77× | ||
| Q3 24 | — | 1.42× | ||
| Q2 24 | — | 0.60× | ||
| Q1 24 | 6.02× | 1.17× |
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
AS
| Americas2 | $409.6M | 39% |
| EMEA1 | $356.9M | 34% |
| Greater China3 | $205.6M | 20% |
| Asia Pacific4 | $78.2M | 7% |
BLD
| Distribution Segment | $755.4M | 51% |
| Residential | $557.9M | 38% |
| All Other Products | $91.9M | 6% |
| Glass And Windows | $51.5M | 3% |
| Rain Gutters | $27.1M | 2% |
