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BUILD-A-BEAR WORKSHOP INC（BBW）与Rocket Lab Corp（RKLB）财务数据对比。点击上方公司名可切换其他公司
Rocket Lab Corp的季度营收约是BUILD-A-BEAR WORKSHOP INC的1.5倍（$179.7M vs $122.7M），BUILD-A-BEAR WORKSHOP INC净利率更高（6.6% vs -29.5%，领先36.1%），Rocket Lab Corp同比增速更快（35.7% vs 2.7%），BUILD-A-BEAR WORKSHOP INC自由现金流更多（$1.7M vs $-114.2M）
Build-A-Bear Workshop是源自美国的定制毛绒玩具零售商，总部位于密苏里州圣路易斯。顾客到店后可全程参与互动流程，亲手制作并根据自身偏好定制毛绒玩具，可选择不同香味、音效、造型与服饰，它是目前全球最大的同类毛绒玩具定制连锁品牌。
Rocket Lab是公开上市的航空航天制造商及发射服务提供商，旗下Electron轨道火箭主打小型卫星发射，截至2026年1月已成功完成超75次任务，是全球现役发射次数最多的小型运载火箭。公司还开发了Electron的亚轨道改型HASTE用作高超音速技术测试平台，下一代可复用中型运载火箭Neutron目前也在研发中。
BBW vs RKLB — 直观对比
营收规模更大
RKLB
是对方的1.5倍
$122.7M
营收增速更快
RKLB
高出33.0%
2.7%
净利率更高
BBW
高出36.1%
-29.5%
自由现金流更多
BBW
多$115.9M
$-114.2M
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $122.7M | $179.7M |
| 净利润 | $8.1M | $-52.9M |
| 毛利率 | 53.7% | 38.0% |
| 营业利润率 | 8.7% | -28.4% |
| 净利率 | 6.6% | -29.5% |
| 营收同比 | 2.7% | 35.7% |
| 净利润同比 | -17.7% | -1.1% |
| 每股收益（稀释后） | $0.62 | $-0.09 |
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BBWRKLB
| Q4 25 | $122.7M | $179.7M | ||
| Q3 25 | $124.2M | $155.1M | ||
| Q2 25 | $128.4M | $144.5M | ||
| Q1 25 | $150.4M | $122.6M | ||
| Q4 24 | — | $132.4M | ||
| Q3 24 | — | $104.8M | ||
| Q2 24 | — | $106.3M | ||
| Q1 24 | — | $92.8M |
净利润BBWRKLB
| Q4 25 | $8.1M | $-52.9M | ||
| Q3 25 | $12.4M | $-18.3M | ||
| Q2 25 | $15.3M | $-66.4M | ||
| Q1 25 | $21.7M | $-60.6M | ||
| Q4 24 | — | $-52.3M | ||
| Q3 24 | — | $-51.9M | ||
| Q2 24 | — | $-41.6M | ||
| Q1 24 | — | $-44.3M |
毛利率BBWRKLB
| Q4 25 | 53.7% | 38.0% | ||
| Q3 25 | 57.6% | 37.0% | ||
| Q2 25 | 56.8% | 32.1% | ||
| Q1 25 | 56.6% | 28.8% | ||
| Q4 24 | — | 27.8% | ||
| Q3 24 | — | 26.7% | ||
| Q2 24 | — | 25.6% | ||
| Q1 24 | — | 26.1% |
营业利润率BBWRKLB
| Q4 25 | 8.7% | -28.4% | ||
| Q3 25 | 12.3% | -38.0% | ||
| Q2 25 | 15.3% | -41.3% | ||
| Q1 25 | 18.3% | -48.3% | ||
| Q4 24 | — | -38.9% | ||
| Q3 24 | — | -49.5% | ||
| Q2 24 | — | -40.7% | ||
| Q1 24 | — | -46.4% |
净利率BBWRKLB
| Q4 25 | 6.6% | -29.5% | ||
| Q3 25 | 10.0% | -11.8% | ||
| Q2 25 | 11.9% | -46.0% | ||
| Q1 25 | 14.4% | -49.5% | ||
| Q4 24 | — | -39.5% | ||
| Q3 24 | — | -49.6% | ||
| Q2 24 | — | -39.2% | ||
| Q1 24 | — | -47.7% |
每股收益（稀释后）BBWRKLB
| Q4 25 | $0.62 | $-0.09 | ||
| Q3 25 | $0.94 | $-0.03 | ||
| Q2 25 | $1.17 | $-0.13 | ||
| Q1 25 | $1.61 | $-0.12 | ||
| Q4 24 | — | $-0.11 | ||
| Q3 24 | — | $-0.10 | ||
| Q2 24 | — | $-0.08 | ||
| Q1 24 | — | $-0.09 |
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 | $27.7M | $1.0B |
| 总债务越低越好 | — | $152.4M |
| 股东权益账面价值 | $150.6M | $1.7B |
| 总资产 | $326.5M | $2.3B |
| 负债/权益比越低杠杆越低 | — | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资BBWRKLB
| Q4 25 | $27.7M | $1.0B | ||
| Q3 25 | $39.1M | $976.7M | ||
| Q2 25 | $44.3M | $688.1M | ||
| Q1 25 | $27.8M | $428.4M | ||
| Q4 24 | — | $419.0M | ||
| Q3 24 | — | $442.4M | ||
| Q2 24 | — | $496.8M | ||
| Q1 24 | — | $492.5M |
总债务BBWRKLB
| Q4 25 | — | $152.4M | ||
| Q3 25 | — | $347.0M | ||
| Q2 25 | — | $346.5M | ||
| Q1 25 | — | $345.9M | ||
| Q4 24 | — | $345.4M | ||
| Q3 24 | — | $61.2M | ||
| Q2 24 | — | $64.2M | ||
| Q1 24 | — | $66.8M |
股东权益BBWRKLB
| Q4 25 | $150.6M | $1.7B | ||
| Q3 25 | $155.4M | $1.3B | ||
| Q2 25 | $148.7M | $688.5M | ||
| Q1 25 | $139.1M | $431.3M | ||
| Q4 24 | — | $382.5M | ||
| Q3 24 | — | $419.8M | ||
| Q2 24 | — | $455.2M | ||
| Q1 24 | — | $478.9M |
总资产BBWRKLB
| Q4 25 | $326.5M | $2.3B | ||
| Q3 25 | $318.2M | $2.2B | ||
| Q2 25 | $308.3M | $1.6B | ||
| Q1 25 | $290.0M | $1.3B | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $1.2B |
负债/权益比BBWRKLB
| Q4 25 | — | 0.09× | ||
| Q3 25 | — | 0.27× | ||
| Q2 25 | — | 0.50× | ||
| Q1 25 | — | 0.80× | ||
| Q4 24 | — | 0.90× | ||
| Q3 24 | — | 0.15× | ||
| Q2 24 | — | 0.14× | ||
| Q1 24 | — | 0.14× |
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 | $8.2M | $-64.5M |
| 自由现金流经营现金流 - 资本支出 | $1.7M | $-114.2M |
| 自由现金流率自由现金流/营收 | 1.4% | -63.6% |
| 资本支出强度资本支出/营收 | 5.3% | 27.6% |
| 现金转化率经营现金流/净利润 | 1.01× | — |
| 过去12个月自由现金流最近4个季度 | $37.2M | $-321.8M |
8季度趋势，按日历期对齐
经营现金流BBWRKLB
| Q4 25 | $8.2M | $-64.5M | ||
| Q3 25 | $4.2M | $-23.5M | ||
| Q2 25 | $27.8M | $-23.2M | ||
| Q1 25 | $19.5M | $-54.2M | ||
| Q4 24 | — | $-2.4M | ||
| Q3 24 | — | $-30.9M | ||
| Q2 24 | — | $-13.0M | ||
| Q1 24 | — | $-2.6M |
自由现金流BBWRKLB
| Q4 25 | $1.7M | $-114.2M | ||
| Q3 25 | $793.0K | $-69.4M | ||
| Q2 25 | $24.9M | $-55.3M | ||
| Q1 25 | $9.8M | $-82.9M | ||
| Q4 24 | — | $-23.9M | ||
| Q3 24 | — | $-41.9M | ||
| Q2 24 | — | $-28.3M | ||
| Q1 24 | — | $-21.8M |
自由现金流率BBWRKLB
| Q4 25 | 1.4% | -63.6% | ||
| Q3 25 | 0.6% | -44.8% | ||
| Q2 25 | 19.4% | -38.3% | ||
| Q1 25 | 6.5% | -67.6% | ||
| Q4 24 | — | -18.1% | ||
| Q3 24 | — | -40.0% | ||
| Q2 24 | — | -26.7% | ||
| Q1 24 | — | -23.5% |
资本支出强度BBWRKLB
| Q4 25 | 5.3% | 27.6% | ||
| Q3 25 | 2.8% | 29.6% | ||
| Q2 25 | 2.3% | 22.2% | ||
| Q1 25 | 6.5% | 23.4% | ||
| Q4 24 | — | 16.3% | ||
| Q3 24 | — | 10.5% | ||
| Q2 24 | — | 14.4% | ||
| Q1 24 | — | 20.7% |
现金转化率BBWRKLB
| Q4 25 | 1.01× | — | ||
| Q3 25 | 0.34× | — | ||
| Q2 25 | 1.81× | — | ||
| Q1 25 | 0.90× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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
BBW
| Direct To Consumer | $112.3M | 92% |
| Commercial Product And Service | $8.9M | 7% |
| International Franchising | $1.5M | 1% |
RKLB
| Products | $94.0M | 52% |
| Transferred Over Time | $87.3M | 49% |
