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AutoZone（AZO）与维多利亚的秘密（VSCO）财务数据对比。点击上方公司名可切换其他公司
AutoZone的季度营收约是维多利亚的秘密的2.9倍（$4.3B vs $1.5B）。AutoZone净利率更高（11.0% vs -2.5%，领先13.5%）。维多利亚的秘密同比增速更快（9.3% vs 8.1%）。AutoZone自由现金流更多（$35.6M vs $-232.0M）。过去两年AutoZone的营收复合增速更高（0.5% vs -15.9%）
AutoZone是美国规模最大的汽车售后零部件及配件零售商，1979年正式成立，总部位于田纳西州孟菲斯。目前企业在全美、墨西哥、波多黎各、巴西及美属维尔京群岛共开设7140家门店，为车主及汽修从业人员提供多元齐全的汽车相关配件产品。
维多利亚的秘密是美国知名内衣、服饰及美妆零售商，1977年由斯坦福大学研究生罗伊·雷蒙德与妻子盖伊共同创立，1982年旗下5家内衣门店被莱斯·韦克斯纳收购。韦克斯纳随后快速将门店布局到全美各大购物中心，到90年代初已在全国拥有350家门店，销售额达10亿美元，成为美国最大的内衣零售商。
AZO vs VSCO — 直观对比
营收规模更大
AZO
是对方的2.9倍
$1.5B
营收增速更快
VSCO
高出1.1%
8.1%
净利率更高
AZO
高出13.5%
-2.5%
自由现金流更多
AZO
多$267.6M
$-232.0M
两年增速更快
AZO
近两年复合增速
-15.9%
损益表 — Q2 2026 vs Q4 2026
| 指标 | | |
|---|---|---|
| 营收 | $4.3B | $1.5B |
| 净利润 | $468.9M | $-37.0M |
| 毛利率 | 52.5% | 36.4% |
| 营业利润率 | 16.3% | -1.3% |
| 净利率 | 11.0% | -2.5% |
| 营收同比 | 8.1% | 9.3% |
| 净利润同比 | -3.9% | 33.9% |
| 每股收益（稀释后） | $27.63 | $-0.46 |
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AZOVSCO
| Q1 26 | $4.3B | — | ||
| Q4 25 | $4.6B | $1.5B | ||
| Q3 25 | $6.2B | $1.5B | ||
| Q2 25 | $4.5B | $1.4B | ||
| Q1 25 | $4.0B | $2.1B | ||
| Q4 24 | $4.3B | $1.3B | ||
| Q3 24 | $6.2B | $1.4B | ||
| Q2 24 | $4.2B | $1.4B |
净利润AZOVSCO
| Q1 26 | $468.9M | — | ||
| Q4 25 | $530.8M | $-37.0M | ||
| Q3 25 | $837.0M | $16.0M | ||
| Q2 25 | $608.4M | $-2.0M | ||
| Q1 25 | $487.9M | $193.0M | ||
| Q4 24 | $564.9M | $-56.0M | ||
| Q3 24 | $902.2M | $32.0M | ||
| Q2 24 | $651.7M | $-4.0M |
毛利率AZOVSCO
| Q1 26 | 52.5% | — | ||
| Q4 25 | 51.0% | 36.4% | ||
| Q3 25 | 51.5% | 35.6% | ||
| Q2 25 | 52.7% | 35.0% | ||
| Q1 25 | 53.9% | 38.6% | ||
| Q4 24 | 53.0% | 34.7% | ||
| Q3 24 | 52.5% | 35.4% | ||
| Q2 24 | 53.5% | 36.9% |
营业利润率AZOVSCO
| Q1 26 | 16.3% | — | ||
| Q4 25 | 16.9% | -1.3% | ||
| Q3 25 | 19.2% | 2.8% | ||
| Q2 25 | 19.4% | 1.5% | ||
| Q1 25 | 17.9% | 12.8% | ||
| Q4 24 | 19.7% | -3.5% | ||
| Q3 24 | 20.9% | 4.4% | ||
| Q2 24 | 21.3% | 1.9% |
净利率AZOVSCO
| Q1 26 | 11.0% | — | ||
| Q4 25 | 11.5% | -2.5% | ||
| Q3 25 | 13.4% | 1.1% | ||
| Q2 25 | 13.6% | -0.1% | ||
| Q1 25 | 12.3% | 9.2% | ||
| Q4 24 | 13.2% | -4.2% | ||
| Q3 24 | 14.5% | 2.3% | ||
| Q2 24 | 15.4% | -0.3% |
每股收益（稀释后）AZOVSCO
| Q1 26 | $27.63 | — | ||
| Q4 25 | $31.04 | $-0.46 | ||
| Q3 25 | $48.70 | $0.20 | ||
| Q2 25 | $35.36 | $-0.02 | ||
| Q1 25 | $28.29 | $2.41 | ||
| Q4 24 | $32.52 | $-0.71 | ||
| Q3 24 | $51.42 | $0.40 | ||
| Q2 24 | $36.69 | $-0.05 |
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 | $285.5M | $249.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $-2.9B | $653.0M |
| 总资产 | $20.4B | $5.1B |
| 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AZOVSCO
| Q1 26 | $285.5M | — | ||
| Q4 25 | $287.6M | $249.0M | ||
| Q3 25 | $271.8M | $188.0M | ||
| Q2 25 | $268.6M | $138.0M | ||
| Q1 25 | $300.9M | $227.0M | ||
| Q4 24 | $304.0M | $161.0M | ||
| Q3 24 | $298.2M | $169.0M | ||
| Q2 24 | $275.4M | $105.0M |
股东权益AZOVSCO
| Q1 26 | $-2.9B | — | ||
| Q4 25 | $-3.2B | $653.0M | ||
| Q3 25 | $-3.4B | $680.0M | ||
| Q2 25 | $-4.0B | $645.0M | ||
| Q1 25 | $-4.5B | $640.0M | ||
| Q4 24 | $-4.7B | $429.0M | ||
| Q3 24 | $-4.7B | $472.0M | ||
| Q2 24 | $-4.8B | $423.0M |
总资产AZOVSCO
| Q1 26 | $20.4B | — | ||
| Q4 25 | $19.7B | $5.1B | ||
| Q3 25 | $19.4B | $4.8B | ||
| Q2 25 | $18.6B | $4.6B | ||
| Q1 25 | $18.1B | $4.5B | ||
| Q4 24 | $17.5B | $4.9B | ||
| Q3 24 | $17.2B | $4.6B | ||
| Q2 24 | $17.1B | $4.4B |
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 | $373.4M | $-180.0M |
| 自由现金流经营现金流 - 资本支出 | $35.6M | $-232.0M |
| 自由现金流率自由现金流/营收 | 0.8% | -15.8% |
| 资本支出强度资本支出/营收 | 7.9% | 3.5% |
| 现金转化率经营现金流/净利润 | 0.80× | — |
| 过去12个月自由现金流最近4个季度 | $1.6B | $309.0M |
8季度趋势，按日历期对齐
经营现金流AZOVSCO
| Q1 26 | $373.4M | — | ||
| Q4 25 | $944.2M | $-180.0M | ||
| Q3 25 | $952.8M | $156.0M | ||
| Q2 25 | $769.0M | $-150.0M | ||
| Q1 25 | $583.7M | $674.0M | ||
| Q4 24 | $811.8M | $-248.0M | ||
| Q3 24 | $1.1B | $115.0M | ||
| Q2 24 | $669.5M | $-116.0M |
自由现金流AZOVSCO
| Q1 26 | $35.6M | — | ||
| Q4 25 | $630.0M | $-232.0M | ||
| Q3 25 | $511.1M | $88.0M | ||
| Q2 25 | $423.1M | $-193.0M | ||
| Q1 25 | $291.0M | $646.0M | ||
| Q4 24 | $564.8M | $-299.0M | ||
| Q3 24 | $723.5M | $55.0M | ||
| Q2 24 | $434.4M | $-155.0M |
自由现金流率AZOVSCO
| Q1 26 | 0.8% | — | ||
| Q4 25 | 13.6% | -15.8% | ||
| Q3 25 | 8.2% | 6.0% | ||
| Q2 25 | 9.5% | -14.3% | ||
| Q1 25 | 7.4% | 30.7% | ||
| Q4 24 | 13.2% | -22.2% | ||
| Q3 24 | 11.7% | 3.9% | ||
| Q2 24 | 10.3% | -11.4% |
资本支出强度AZOVSCO
| Q1 26 | 7.9% | — | ||
| Q4 25 | 6.8% | 3.5% | ||
| Q3 25 | 7.1% | 4.7% | ||
| Q2 25 | 7.7% | 3.2% | ||
| Q1 25 | 7.4% | 1.3% | ||
| Q4 24 | 5.8% | 3.8% | ||
| Q3 24 | 5.6% | 4.2% | ||
| Q2 24 | 5.6% | 2.9% |
现金转化率AZOVSCO
| Q1 26 | 0.80× | — | ||
| Q4 25 | 1.78× | — | ||
| Q3 25 | 1.14× | 9.75× | ||
| Q2 25 | 1.26× | — | ||
| Q1 25 | 1.20× | 3.49× | ||
| Q4 24 | 1.44× | — | ||
| Q3 24 | 1.19× | 3.59× | ||
| Q2 24 | 1.03× | — |
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
AZO
暂无分部数据
VSCO
| Sales Channel North America Stores | $778.0M | 53% |
| Sales Channel Directly To Consumer | $429.0M | 29% |
| Sales Channel International | $265.0M | 18% |
| Sales Channel Loyalty And Private Label Credit Card | $19.0M | 1% |
