vs
亚什兰（ASH）与Warby Parker Inc.（WRBY）财务数据对比。点击上方公司名可切换其他公司
亚什兰的季度营收约是Warby Parker Inc.的1.8倍（$386.0M vs $212.0M），Warby Parker Inc.净利率更高（-2.8% vs -3.1%，领先0.3%），Warby Parker Inc.同比增速更快（11.2% vs -4.7%），亚什兰自由现金流更多（$111.0M vs $8.1M），过去两年Warby Parker Inc.的营收复合增速更高（2.9% vs -18.1%）
亚什兰是一家总部位于美国特拉华州威尔明顿的化工企业，1924年始创于肯塔基州亚什兰市，最初以炼油业务起家，1994年迁至现总部。公司拥有多个业务板块，覆盖化工中间体与溶剂、复合材料、工业特种化学品、个人及家居护理、制药、食品饮料以及农业相关领域，2017年之前曾是胜牌润滑油的主要生产商。
Warby Parker是总部位于纽约的美国眼镜品牌零售商，主营处方眼镜、隐形眼镜及太阳镜，还提供验光服务。品牌2010年创立之初仅在线上运营，目前约三分之二的收入来自276家线下实体门店，其中271家位于美国，5家位于加拿大，品牌未来计划开设900家门店，现有消费者规模228万，客单价约263美元。
ASH vs WRBY — 直观对比
营收规模更大
ASH
是对方的1.8倍
$212.0M
营收增速更快
WRBY
高出15.9%
-4.7%
净利率更高
WRBY
高出0.3%
-3.1%
自由现金流更多
ASH
多$102.9M
$8.1M
两年增速更快
WRBY
近两年复合增速
-18.1%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $386.0M | $212.0M |
| 净利润 | $-12.0M | $-6.0M |
| 毛利率 | 27.2% | 52.4% |
| 营业利润率 | -1.6% | -3.2% |
| 净利率 | -3.1% | -2.8% |
| 营收同比 | -4.7% | 11.2% |
| 净利润同比 | 92.7% | 13.4% |
| 每股收益（稀释后） | $-0.26 | $-0.06 |
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ASHWRBY
| Q4 25 | $386.0M | $212.0M | ||
| Q3 25 | $477.0M | $221.7M | ||
| Q2 25 | $463.0M | $214.5M | ||
| Q1 25 | $479.0M | $223.8M | ||
| Q4 24 | $405.0M | $190.6M | ||
| Q3 24 | $521.0M | $192.4M | ||
| Q2 24 | $544.0M | $188.2M | ||
| Q1 24 | $575.0M | $200.0M |
净利润ASHWRBY
| Q4 25 | $-12.0M | $-6.0M | ||
| Q3 25 | $31.0M | $5.9M | ||
| Q2 25 | $-742.0M | $-1.8M | ||
| Q1 25 | $31.0M | $3.5M | ||
| Q4 24 | $-165.0M | $-6.9M | ||
| Q3 24 | $17.0M | $-4.1M | ||
| Q2 24 | $6.0M | $-6.8M | ||
| Q1 24 | $120.0M | $-2.7M |
毛利率ASHWRBY
| Q4 25 | 27.2% | 52.4% | ||
| Q3 25 | 33.3% | 54.1% | ||
| Q2 25 | 28.5% | 53.0% | ||
| Q1 25 | 30.7% | 56.3% | ||
| Q4 24 | 27.4% | 54.1% | ||
| Q3 24 | 33.2% | 54.5% | ||
| Q2 24 | 34.2% | 56.0% | ||
| Q1 24 | 28.0% | 56.7% |
营业利润率ASHWRBY
| Q4 25 | -1.6% | -3.2% | ||
| Q3 25 | 12.8% | 1.6% | ||
| Q2 25 | -152.9% | -2.1% | ||
| Q1 25 | 10.6% | 1.1% | ||
| Q4 24 | -44.2% | -4.9% | ||
| Q3 24 | 6.1% | -3.4% | ||
| Q2 24 | -11.2% | -4.8% | ||
| Q1 24 | 3.7% | -2.6% |
净利率ASHWRBY
| Q4 25 | -3.1% | -2.8% | ||
| Q3 25 | 6.5% | 2.6% | ||
| Q2 25 | -160.3% | -0.8% | ||
| Q1 25 | 6.5% | 1.6% | ||
| Q4 24 | -40.7% | -3.6% | ||
| Q3 24 | 3.3% | -2.1% | ||
| Q2 24 | 1.1% | -3.6% | ||
| Q1 24 | 20.9% | -1.3% |
每股收益（稀释后）ASHWRBY
| Q4 25 | $-0.26 | $-0.06 | ||
| Q3 25 | $0.83 | $0.05 | ||
| Q2 25 | $-16.21 | $-0.01 | ||
| Q1 25 | $0.65 | $0.03 | ||
| Q4 24 | $-3.50 | $-0.06 | ||
| Q3 24 | $0.34 | $-0.03 | ||
| Q2 24 | $0.12 | $-0.06 | ||
| Q1 24 | $2.39 | $-0.02 |
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 | $304.0M | $286.4M |
| 总债务越低越好 | $1.4B | — |
| 股东权益账面价值 | $1.9B | $367.7M |
| 总资产 | $4.5B | $720.9M |
| 负债/权益比越低杠杆越低 | 0.74× | — |
8季度趋势，按日历期对齐
现金及短期投资ASHWRBY
| Q4 25 | $304.0M | $286.4M | ||
| Q3 25 | $215.0M | $280.4M | ||
| Q2 25 | $207.0M | $286.4M | ||
| Q1 25 | $168.0M | $265.1M | ||
| Q4 24 | $219.0M | $254.2M | ||
| Q3 24 | $300.0M | $251.0M | ||
| Q2 24 | $399.0M | $238.0M | ||
| Q1 24 | $439.0M | $220.4M |
总债务ASHWRBY
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.3B | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $1.3B | — | ||
| Q1 24 | $1.3B | — |
股东权益ASHWRBY
| Q4 25 | $1.9B | $367.7M | ||
| Q3 25 | $1.9B | $369.6M | ||
| Q2 25 | $1.9B | $361.5M | ||
| Q1 25 | $2.6B | $354.1M | ||
| Q4 24 | $2.6B | $340.1M | ||
| Q3 24 | $2.9B | $336.8M | ||
| Q2 24 | $3.0B | $329.4M | ||
| Q1 24 | $3.1B | $316.2M |
总资产ASHWRBY
| Q4 25 | $4.5B | $720.9M | ||
| Q3 25 | $4.6B | $706.9M | ||
| Q2 25 | $4.6B | $701.9M | ||
| Q1 25 | $5.2B | $682.8M | ||
| Q4 24 | $5.2B | $676.5M | ||
| Q3 24 | $5.6B | $638.0M | ||
| Q2 24 | $5.7B | $618.2M | ||
| Q1 24 | $5.9B | $592.9M |
负债/权益比ASHWRBY
| Q4 25 | 0.74× | — | ||
| Q3 25 | 0.73× | — | ||
| Q2 25 | 0.73× | — | ||
| Q1 25 | 0.52× | — | ||
| Q4 24 | 0.51× | — | ||
| Q3 24 | 0.47× | — | ||
| Q2 24 | 0.45× | — | ||
| Q1 24 | 0.42× | — |
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 | $125.0M | $23.3M |
| 自由现金流经营现金流 - 资本支出 | $111.0M | $8.1M |
| 自由现金流率自由现金流/营收 | 28.8% | 3.8% |
| 资本支出强度资本支出/营收 | 3.6% | 7.1% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $200.0M | $43.7M |
8季度趋势，按日历期对齐
经营现金流ASHWRBY
| Q4 25 | $125.0M | $23.3M | ||
| Q3 25 | $40.0M | $18.0M | ||
| Q2 25 | $115.0M | $40.2M | ||
| Q1 25 | $9.0M | $29.4M | ||
| Q4 24 | $-30.0M | $19.9M | ||
| Q3 24 | $80.0M | $27.3M | ||
| Q2 24 | $127.0M | $31.6M | ||
| Q1 24 | $54.0M | $19.9M |
自由现金流ASHWRBY
| Q4 25 | $111.0M | $8.1M | ||
| Q3 25 | $6.0M | $-1.5M | ||
| Q2 25 | $95.0M | $23.9M | ||
| Q1 25 | $-12.0M | $13.2M | ||
| Q4 24 | $-53.0M | $2.2M | ||
| Q3 24 | $42.0M | $13.1M | ||
| Q2 24 | $98.0M | $14.0M | ||
| Q1 24 | $20.0M | $5.5M |
自由现金流率ASHWRBY
| Q4 25 | 28.8% | 3.8% | ||
| Q3 25 | 1.3% | -0.7% | ||
| Q2 25 | 20.5% | 11.1% | ||
| Q1 25 | -2.5% | 5.9% | ||
| Q4 24 | -13.1% | 1.1% | ||
| Q3 24 | 8.1% | 6.8% | ||
| Q2 24 | 18.0% | 7.4% | ||
| Q1 24 | 3.5% | 2.7% |
资本支出强度ASHWRBY
| Q4 25 | 3.6% | 7.1% | ||
| Q3 25 | 7.1% | 8.8% | ||
| Q2 25 | 4.3% | 7.6% | ||
| Q1 25 | 4.4% | 7.2% | ||
| Q4 24 | 5.7% | 9.3% | ||
| Q3 24 | 7.3% | 7.4% | ||
| Q2 24 | 5.3% | 9.4% | ||
| Q1 24 | 5.9% | 7.2% |
现金转化率ASHWRBY
| Q4 25 | — | — | ||
| Q3 25 | 1.29× | 3.06× | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.29× | 8.46× | ||
| Q4 24 | — | — | ||
| Q3 24 | 4.71× | — | ||
| Q2 24 | 21.17× | — | ||
| Q1 24 | 0.45× | — |
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
ASH
| Personal Care And Household | $123.0M | 32% |
| Other | $120.0M | 31% |
| Specialty Additives | $36.0M | 9% |
| Intermediates And Solvents | $31.0M | 8% |
| Personal Care | $30.0M | 8% |
| Life Sciences | $27.0M | 7% |
| Intermediates | $19.0M | 5% |
WRBY
| Retail | $155.2M | 73% |
| E Commerce | $56.8M | 27% |
