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波尔公司（BALL）与Constellation Brands（STZ）财务数据对比。点击上方公司名可切换其他公司
波尔公司的季度营收约是Constellation Brands的1.5倍（$3.3B vs $2.2B），Constellation Brands净利率更高（22.6% vs 6.0%，领先16.6%），波尔公司同比增速更快（16.2% vs -9.8%），波尔公司自由现金流更多（$1.0B vs $370.9M），过去两年波尔公司的营收复合增速更高（7.9% vs 1.9%）
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。
Constellation Brands, Inc.是总部位于美国纽约州罗切斯特的《财富》500强企业，主营啤酒、葡萄酒及烈酒的生产与营销，按销售额计算是美国最大的啤酒进口商，在全美主要啤酒供应商中市场份额位列第三。公司还通过与Canopy Growth合作在医用及娱乐大麻领域有大额投资，现有约40处设施、近9000名员工。
BALL vs STZ — 直观对比
营收规模更大
BALL
是对方的1.5倍
$2.2B
营收增速更快
BALL
高出26.0%
-9.8%
净利率更高
STZ
高出16.6%
6.0%
自由现金流更多
BALL
多$670.1M
$370.9M
两年增速更快
BALL
近两年复合增速
1.9%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.3B | $2.2B |
| 净利润 | $200.0M | $502.8M |
| 毛利率 | — | 53.2% |
| 营业利润率 | 7.2% | 31.1% |
| 净利率 | 6.0% | 22.6% |
| 营收同比 | 16.2% | -9.8% |
| 净利润同比 | 766.7% | -18.4% |
| 每股收益（稀释后） | $0.73 | — |
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BALLSTZ
| Q4 25 | $3.3B | $2.2B | ||
| Q3 25 | $3.4B | $2.5B | ||
| Q2 25 | $3.3B | $2.5B | ||
| Q1 25 | $3.1B | $2.2B | ||
| Q4 24 | $2.9B | $2.5B | ||
| Q3 24 | $3.1B | $2.9B | ||
| Q2 24 | $3.0B | $2.7B | ||
| Q1 24 | $2.9B | $2.1B |
净利润BALLSTZ
| Q4 25 | $200.0M | $502.8M | ||
| Q3 25 | $321.0M | $466.0M | ||
| Q2 25 | $215.0M | $516.1M | ||
| Q1 25 | $179.0M | $-375.3M | ||
| Q4 24 | $-30.0M | $615.9M | ||
| Q3 24 | $199.0M | $-1.2B | ||
| Q2 24 | $159.0M | $877.0M | ||
| Q1 24 | $3.7B | $392.4M |
毛利率BALLSTZ
| Q4 25 | — | 53.2% | ||
| Q3 25 | — | 52.8% | ||
| Q2 25 | — | 50.4% | ||
| Q1 25 | — | 51.5% | ||
| Q4 24 | — | 52.1% | ||
| Q3 24 | 17.7% | 51.8% | ||
| Q2 24 | 16.5% | 52.7% | ||
| Q1 24 | 16.6% | 48.6% |
营业利润率BALLSTZ
| Q4 25 | 7.2% | 31.1% | ||
| Q3 25 | 11.6% | 35.2% | ||
| Q2 25 | 8.0% | 28.4% | ||
| Q1 25 | 7.4% | -6.9% | ||
| Q4 24 | 0.2% | 32.2% | ||
| Q3 24 | 7.4% | -42.1% | ||
| Q2 24 | 6.8% | 35.4% | ||
| Q1 24 | 6.8% | 29.4% |
净利率BALLSTZ
| Q4 25 | 6.0% | 22.6% | ||
| Q3 25 | 9.5% | 18.8% | ||
| Q2 25 | 6.4% | 20.5% | ||
| Q1 25 | 5.8% | -17.3% | ||
| Q4 24 | -1.0% | 25.0% | ||
| Q3 24 | 6.5% | -41.1% | ||
| Q2 24 | 5.4% | 32.9% | ||
| Q1 24 | 128.3% | 18.3% |
每股收益（稀释后）BALLSTZ
| Q4 25 | $0.73 | — | ||
| Q3 25 | $1.18 | — | ||
| Q2 25 | $0.76 | — | ||
| Q1 25 | $0.63 | — | ||
| Q4 24 | $0.23 | — | ||
| Q3 24 | $0.65 | — | ||
| Q2 24 | $0.51 | — | ||
| Q1 24 | $11.61 | — |
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 | $152.4M |
| 总债务越低越好 | $7.0B | $10.3B |
| 股东权益账面价值 | $5.4B | $7.7B |
| 总资产 | $19.5B | $21.7B |
| 负债/权益比越低杠杆越低 | 1.29× | 1.33× |
8季度趋势，按日历期对齐
现金及短期投资BALLSTZ
| Q4 25 | $1.2B | $152.4M | ||
| Q3 25 | $568.0M | $72.0M | ||
| Q2 25 | $296.0M | $73.9M | ||
| Q1 25 | $449.0M | $68.1M | ||
| Q4 24 | $885.0M | $73.7M | ||
| Q3 24 | $1.4B | $64.6M | ||
| Q2 24 | $1.3B | $73.8M | ||
| Q1 24 | $1.7B | $152.4M |
总债务BALLSTZ
| Q4 25 | $7.0B | $10.3B | ||
| Q3 25 | $6.9B | $10.3B | ||
| Q2 25 | $6.5B | $11.2B | ||
| Q1 25 | $6.1B | $10.7B | ||
| Q4 24 | $5.3B | $10.7B | ||
| Q3 24 | $5.4B | $11.1B | ||
| Q2 24 | $5.5B | $11.1B | ||
| Q1 24 | $5.5B | $11.6B |
股东权益BALLSTZ
| Q4 25 | $5.4B | $7.7B | ||
| Q3 25 | $5.4B | $7.5B | ||
| Q2 25 | $5.2B | $7.3B | ||
| Q1 25 | $5.5B | $6.9B | ||
| Q4 24 | $5.9B | $7.8B | ||
| Q3 24 | $6.7B | $7.9B | ||
| Q2 24 | $6.9B | $10.3B | ||
| Q1 24 | $7.3B | $9.7B |
总资产BALLSTZ
| Q4 25 | $19.5B | $21.7B | ||
| Q3 25 | $18.7B | $21.4B | ||
| Q2 25 | $18.6B | $22.3B | ||
| Q1 25 | $18.0B | $21.7B | ||
| Q4 24 | $17.6B | $22.8B | ||
| Q3 24 | $18.8B | $23.1B | ||
| Q2 24 | $19.0B | $26.1B | ||
| Q1 24 | $19.9B | $25.7B |
负债/权益比BALLSTZ
| Q4 25 | 1.29× | 1.33× | ||
| Q3 25 | 1.26× | 1.37× | ||
| Q2 25 | 1.24× | 1.54× | ||
| Q1 25 | 1.12× | 1.55× | ||
| Q4 24 | 0.91× | 1.37× | ||
| Q3 24 | 0.80× | 1.41× | ||
| Q2 24 | 0.80× | 1.08× | ||
| Q1 24 | 0.76× | 1.19× |
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 | $616.9M |
| 自由现金流经营现金流 - 资本支出 | $1.0B | $370.9M |
| 自由现金流率自由现金流/营收 | 31.1% | 16.7% |
| 资本支出强度资本支出/营收 | 5.1% | 11.1% |
| 现金转化率经营现金流/净利润 | 6.05× | 1.23× |
| 过去12个月自由现金流最近4个季度 | $788.0M | $1.8B |
8季度趋势，按日历期对齐
经营现金流BALLSTZ
| Q4 25 | $1.2B | $616.9M | ||
| Q3 25 | $384.0M | $852.1M | ||
| Q2 25 | $332.0M | $637.2M | ||
| Q1 25 | $-665.0M | $594.7M | ||
| Q4 24 | $500.0M | $685.2M | ||
| Q3 24 | $610.0M | $1.2B | ||
| Q2 24 | $252.0M | $690.5M | ||
| Q1 24 | $-1.2B | $433.2M |
自由现金流BALLSTZ
| Q4 25 | $1.0B | $370.9M | ||
| Q3 25 | $257.0M | $634.8M | ||
| Q2 25 | $236.0M | $444.4M | ||
| Q1 25 | $-746.0M | $312.1M | ||
| Q4 24 | $393.0M | $456.8M | ||
| Q3 24 | $493.0M | $854.0M | ||
| Q2 24 | $146.0M | $315.2M | ||
| Q1 24 | $-1.4B | $76.0M |
自由现金流率BALLSTZ
| Q4 25 | 31.1% | 16.7% | ||
| Q3 25 | 7.6% | 25.6% | ||
| Q2 25 | 7.1% | 17.7% | ||
| Q1 25 | -24.1% | 14.4% | ||
| Q4 24 | 13.6% | 18.5% | ||
| Q3 24 | 16.0% | 29.3% | ||
| Q2 24 | 4.9% | 11.8% | ||
| Q1 24 | -48.7% | 3.6% |
资本支出强度BALLSTZ
| Q4 25 | 5.1% | 11.1% | ||
| Q3 25 | 3.8% | 8.8% | ||
| Q2 25 | 2.9% | 7.7% | ||
| Q1 25 | 2.6% | 13.1% | ||
| Q4 24 | 3.7% | 9.3% | ||
| Q3 24 | 3.8% | 11.2% | ||
| Q2 24 | 3.6% | 14.1% | ||
| Q1 24 | 5.4% | 16.7% |
现金转化率BALLSTZ
| Q4 25 | 6.05× | 1.23× | ||
| Q3 25 | 1.20× | 1.83× | ||
| Q2 25 | 1.54× | 1.23× | ||
| Q1 25 | -3.72× | — | ||
| Q4 24 | — | 1.11× | ||
| Q3 24 | 3.07× | — | ||
| Q2 24 | 1.58× | 0.79× | ||
| Q1 24 | -0.34× | 1.10× |
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% |
STZ
| Beer | $2.0B | 90% |
| Constellation Wines And Spirits | $213.1M | 10% |
