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波尔公司（BALL）与Keurig Dr Pepper（KDP）财务数据对比。点击上方公司名可切换其他公司
Keurig Dr Pepper的季度营收约是波尔公司的1.2倍（$4.0B vs $3.3B），Keurig Dr Pepper净利率更高（6.8% vs 6.0%，领先0.8%），波尔公司同比增速更快（16.2% vs 9.4%），波尔公司自由现金流更多（$1.0B vs $184.0M），过去两年波尔公司的营收复合增速更高（7.9% vs 0.7%）
波尔公司是全球领先的可持续铝制包装解决方案供应商，为饮料、个护、家居产品领域的品牌提供创新包装产品，同时旗下航空航天板块为政府及商业客户提供先进技术、系统与相关服务，全业务线高度重视环保责任与产品可靠性。
Keurig Dr Pepper是美国上市的饮品与咖啡机综合企业，2018年由克里格绿山和胡椒博士斯奈普集团合并成立，在马萨诸塞州伯灵顿及得克萨斯州弗里斯科设有双总部，旗下拥有超125款冷热饮品，加拿大区域业务由当地子公司负责运营。
BALL vs KDP — 直观对比
营收规模更大
KDP
是对方的1.2倍
$3.3B
营收增速更快
BALL
高出6.8%
9.4%
净利率更高
KDP
高出0.8%
6.0%
自由现金流更多
BALL
多$857.0M
$184.0M
两年增速更快
BALL
近两年复合增速
0.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.3B | $4.0B |
| 净利润 | $200.0M | $270.0M |
| 毛利率 | — | 52.8% |
| 营业利润率 | 7.2% | 19.0% |
| 净利率 | 6.0% | 6.8% |
| 营收同比 | 16.2% | 9.4% |
| 净利润同比 | 766.7% | -47.8% |
| 每股收益（稀释后） | $0.73 | $0.20 |
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BALLKDP
| Q1 26 | — | $4.0B | ||
| Q4 25 | $3.3B | $4.5B | ||
| Q3 25 | $3.4B | $4.3B | ||
| Q2 25 | $3.3B | $4.2B | ||
| Q1 25 | $3.1B | $3.6B | ||
| Q4 24 | $2.9B | $4.1B | ||
| Q3 24 | $3.1B | $3.9B | ||
| Q2 24 | $3.0B | $3.9B |
净利润BALLKDP
| Q1 26 | — | $270.0M | ||
| Q4 25 | $200.0M | $353.0M | ||
| Q3 25 | $321.0M | $662.0M | ||
| Q2 25 | $215.0M | $547.0M | ||
| Q1 25 | $179.0M | $517.0M | ||
| Q4 24 | $-30.0M | $-144.0M | ||
| Q3 24 | $199.0M | $616.0M | ||
| Q2 24 | $159.0M | $515.0M |
毛利率BALLKDP
| Q1 26 | — | 52.8% | ||
| Q4 25 | — | 53.8% | ||
| Q3 25 | — | 54.3% | ||
| Q2 25 | — | 54.2% | ||
| Q1 25 | — | 54.6% | ||
| Q4 24 | — | 55.9% | ||
| Q3 24 | 17.7% | 55.0% | ||
| Q2 24 | 16.5% | 55.4% |
营业利润率BALLKDP
| Q1 26 | — | 19.0% | ||
| Q4 25 | 7.2% | 19.6% | ||
| Q3 25 | 11.6% | 23.1% | ||
| Q2 25 | 8.0% | 21.6% | ||
| Q1 25 | 7.4% | 22.0% | ||
| Q4 24 | 0.2% | 1.5% | ||
| Q3 24 | 7.4% | 23.2% | ||
| Q2 24 | 6.8% | 22.0% |
净利率BALLKDP
| Q1 26 | — | 6.8% | ||
| Q4 25 | 6.0% | 7.8% | ||
| Q3 25 | 9.5% | 15.4% | ||
| Q2 25 | 6.4% | 13.1% | ||
| Q1 25 | 5.8% | 14.2% | ||
| Q4 24 | -1.0% | -3.5% | ||
| Q3 24 | 6.5% | 15.8% | ||
| Q2 24 | 5.4% | 13.1% |
每股收益（稀释后）BALLKDP
| Q1 26 | — | $0.20 | ||
| Q4 25 | $0.73 | $0.26 | ||
| Q3 25 | $1.18 | $0.49 | ||
| Q2 25 | $0.76 | $0.40 | ||
| Q1 25 | $0.63 | $0.38 | ||
| Q4 24 | $0.23 | $-0.11 | ||
| Q3 24 | $0.65 | $0.45 | ||
| Q2 24 | $0.51 | $0.38 |
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 | $1.2B | $898.0M |
| 总债务越低越好 | $7.0B | — |
| 股东权益账面价值 | $5.4B | $25.3B |
| 总资产 | $19.5B | $73.1B |
| 负债/权益比越低杠杆越低 | 1.29× | — |
8季度趋势，按日历期对齐
现金及短期投资BALLKDP
| Q1 26 | — | $898.0M | ||
| Q4 25 | $1.2B | $1.0B | ||
| Q3 25 | $568.0M | $516.0M | ||
| Q2 25 | $296.0M | $509.0M | ||
| Q1 25 | $449.0M | $653.0M | ||
| Q4 24 | $885.0M | $510.0M | ||
| Q3 24 | $1.4B | $552.0M | ||
| Q2 24 | $1.3B | $438.0M |
总债务BALLKDP
| Q1 26 | — | — | ||
| Q4 25 | $7.0B | — | ||
| Q3 25 | $6.9B | — | ||
| Q2 25 | $6.5B | — | ||
| Q1 25 | $6.1B | — | ||
| Q4 24 | $5.3B | — | ||
| Q3 24 | $5.4B | — | ||
| Q2 24 | $5.5B | — |
股东权益BALLKDP
| Q1 26 | — | $25.3B | ||
| Q4 25 | $5.4B | $25.5B | ||
| Q3 25 | $5.4B | $25.3B | ||
| Q2 25 | $5.2B | $25.0B | ||
| Q1 25 | $5.5B | $24.4B | ||
| Q4 24 | $5.9B | $24.2B | ||
| Q3 24 | $6.7B | $25.0B | ||
| Q2 24 | $6.9B | $24.7B |
总资产BALLKDP
| Q1 26 | — | $73.1B | ||
| Q4 25 | $19.5B | $55.5B | ||
| Q3 25 | $18.7B | $54.6B | ||
| Q2 25 | $18.6B | $54.4B | ||
| Q1 25 | $18.0B | $53.7B | ||
| Q4 24 | $17.6B | $53.4B | ||
| Q3 24 | $18.8B | $52.7B | ||
| Q2 24 | $19.0B | $52.3B |
负债/权益比BALLKDP
| Q1 26 | — | — | ||
| Q4 25 | 1.29× | — | ||
| Q3 25 | 1.26× | — | ||
| Q2 25 | 1.24× | — | ||
| Q1 25 | 1.12× | — | ||
| Q4 24 | 0.91× | — | ||
| Q3 24 | 0.80× | — | ||
| Q2 24 | 0.80× | — |
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 | $1.2B | $281.0M |
| 自由现金流经营现金流 - 资本支出 | $1.0B | $184.0M |
| 自由现金流率自由现金流/营收 | 31.1% | 4.6% |
| 资本支出强度资本支出/营收 | 5.1% | — |
| 现金转化率经营现金流/净利润 | 6.05× | 1.04× |
| 过去12个月自由现金流最近4个季度 | $788.0M | $1.6B |
8季度趋势，按日历期对齐
经营现金流BALLKDP
| Q1 26 | — | $281.0M | ||
| Q4 25 | $1.2B | $712.0M | ||
| Q3 25 | $384.0M | $639.0M | ||
| Q2 25 | $332.0M | $431.0M | ||
| Q1 25 | $-665.0M | $209.0M | ||
| Q4 24 | $500.0M | $849.0M | ||
| Q3 24 | $610.0M | $628.0M | ||
| Q2 24 | $252.0M | $657.0M |
自由现金流BALLKDP
| Q1 26 | — | $184.0M | ||
| Q4 25 | $1.0B | $564.0M | ||
| Q3 25 | $257.0M | $527.0M | ||
| Q2 25 | $236.0M | $325.0M | ||
| Q1 25 | $-746.0M | $89.0M | ||
| Q4 24 | $393.0M | $684.0M | ||
| Q3 24 | $493.0M | $503.0M | ||
| Q2 24 | $146.0M | $542.0M |
自由现金流率BALLKDP
| Q1 26 | — | 4.6% | ||
| Q4 25 | 31.1% | 12.5% | ||
| Q3 25 | 7.6% | 12.2% | ||
| Q2 25 | 7.1% | 7.8% | ||
| Q1 25 | -24.1% | 2.4% | ||
| Q4 24 | 13.6% | 16.8% | ||
| Q3 24 | 16.0% | 12.9% | ||
| Q2 24 | 4.9% | 13.8% |
资本支出强度BALLKDP
| Q1 26 | — | — | ||
| Q4 25 | 5.1% | 3.3% | ||
| Q3 25 | 3.8% | 2.6% | ||
| Q2 25 | 2.9% | 2.5% | ||
| Q1 25 | 2.6% | 3.3% | ||
| Q4 24 | 3.7% | 4.1% | ||
| Q3 24 | 3.8% | 3.2% | ||
| Q2 24 | 3.6% | 2.9% |
现金转化率BALLKDP
| Q1 26 | — | 1.04× | ||
| Q4 25 | 6.05× | 2.02× | ||
| Q3 25 | 1.20× | 0.97× | ||
| Q2 25 | 1.54× | 0.79× | ||
| Q1 25 | -3.72× | 0.40× | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.07× | 1.02× | ||
| Q2 24 | 1.58× | 1.28× |
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
BALL
| Transferred Over Time | $2.7B | 82% |
| Transferred At Point In Time | $602.0M | 18% |
KDP
| U.S. Refreshment Beverages | $2.6B | 65% |
| U.S. Coffee | $877.0M | 22% |
| International | $435.0M | 11% |
