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Bath & Body Works, Inc.（BBWI）与KB HOME（KBH）财务数据对比。点击上方公司名可切换其他公司
KB HOME的季度营收约是Bath & Body Works, Inc.的1.1倍（$1.7B vs $1.6B），KB HOME净利率更高（6.0% vs 4.8%，领先1.2%），Bath & Body Works, Inc.同比增速更快（-1.0% vs -15.3%），KB HOME自由现金流更多（$290.1M vs $-1.0M），过去两年KB HOME的营收复合增速更高（7.4% vs -26.0%）
Bath & Body Works, Inc.是总部位于美国俄亥俄州哥伦布市的特色零售企业，旗下拥有同名身体护理及家居香氛零售品牌Bath & Body Works，2023年营收达74亿美元，在2024年《财富》美国500强榜单中位列第481位。
KB Home是美国知名住宅建造企业，1957年于密歇根州底特律成立，前身为Kaufman & Broad，是首家在纽约证券交易所上市的住宅建造商，总部现位于加利福尼亚州洛杉矶。
BBWI vs KBH — 直观对比
营收规模更大
KBH
是对方的1.1倍
$1.6B
营收增速更快
BBWI
高出14.3%
-15.3%
净利率更高
KBH
高出1.2%
4.8%
自由现金流更多
KBH
多$291.1M
$-1.0M
两年增速更快
KBH
近两年复合增速
-26.0%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $1.7B |
| 净利润 | $77.0M | $101.5M |
| 毛利率 | 41.3% | — |
| 营业利润率 | 10.1% | — |
| 净利率 | 4.8% | 6.0% |
| 营收同比 | -1.0% | -15.3% |
| 净利润同比 | -27.4% | -46.7% |
| 每股收益（稀释后） | $0.37 | $1.55 |
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BBWIKBH
| Q4 25 | $1.6B | $1.7B | ||
| Q3 25 | $1.5B | $1.6B | ||
| Q2 25 | $1.4B | $1.5B | ||
| Q1 25 | $2.8B | $1.4B | ||
| Q4 24 | $1.6B | $2.0B | ||
| Q3 24 | $1.5B | $1.8B | ||
| Q2 24 | $1.4B | $1.7B | ||
| Q1 24 | $2.9B | $1.5B |
净利润BBWIKBH
| Q4 25 | $77.0M | $101.5M | ||
| Q3 25 | $64.0M | $109.8M | ||
| Q2 25 | $105.0M | $107.9M | ||
| Q1 25 | $453.0M | $109.6M | ||
| Q4 24 | $106.0M | $190.6M | ||
| Q3 24 | $152.0M | $157.3M | ||
| Q2 24 | $87.0M | $168.4M | ||
| Q1 24 | $579.0M | $138.7M |
毛利率BBWIKBH
| Q4 25 | 41.3% | — | ||
| Q3 25 | 41.3% | — | ||
| Q2 25 | 45.4% | — | ||
| Q1 25 | 46.7% | — | ||
| Q4 24 | 43.5% | — | ||
| Q3 24 | 41.0% | — | ||
| Q2 24 | 43.8% | — | ||
| Q1 24 | 45.9% | — |
营业利润率BBWIKBH
| Q4 25 | 10.1% | — | ||
| Q3 25 | 10.1% | — | ||
| Q2 25 | 14.7% | — | ||
| Q1 25 | 24.3% | — | ||
| Q4 24 | 13.5% | — | ||
| Q3 24 | 12.0% | — | ||
| Q2 24 | 13.5% | — | ||
| Q1 24 | 23.9% | — |
净利率BBWIKBH
| Q4 25 | 4.8% | 6.0% | ||
| Q3 25 | 4.1% | 6.8% | ||
| Q2 25 | 7.4% | 7.1% | ||
| Q1 25 | 16.3% | 7.9% | ||
| Q4 24 | 6.6% | 9.5% | ||
| Q3 24 | 10.0% | 9.0% | ||
| Q2 24 | 6.3% | 9.9% | ||
| Q1 24 | 19.9% | 9.4% |
每股收益（稀释后）BBWIKBH
| Q4 25 | $0.37 | $1.55 | ||
| Q3 25 | $0.30 | $1.61 | ||
| Q2 25 | $0.49 | $1.50 | ||
| Q1 25 | $2.06 | $1.49 | ||
| Q4 24 | $0.49 | $2.50 | ||
| Q3 24 | $0.68 | $2.04 | ||
| Q2 24 | $0.38 | $2.15 | ||
| Q1 24 | $2.54 | $1.76 |
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 | $236.0M | — |
| 总债务越低越好 | $3.9B | — |
| 股东权益账面价值 | $-1.6B | $3.9B |
| 总资产 | $5.0B | $6.7B |
| 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BBWIKBH
| Q4 25 | $236.0M | — | ||
| Q3 25 | $364.0M | — | ||
| Q2 25 | $636.0M | — | ||
| Q1 25 | $674.0M | — | ||
| Q4 24 | $191.0M | — | ||
| Q3 24 | $514.0M | — | ||
| Q2 24 | $855.0M | — | ||
| Q1 24 | $1.1B | — |
总债务BBWIKBH
| Q4 25 | $3.9B | — | ||
| Q3 25 | $3.9B | — | ||
| Q2 25 | $3.9B | — | ||
| Q1 25 | $3.9B | — | ||
| Q4 24 | $4.2B | — | ||
| Q3 24 | $4.2B | — | ||
| Q2 24 | $4.3B | — | ||
| Q1 24 | $4.4B | — |
股东权益BBWIKBH
| Q4 25 | $-1.6B | $3.9B | ||
| Q3 25 | $-1.5B | $3.9B | ||
| Q2 25 | $-1.5B | $4.0B | ||
| Q1 25 | $-1.4B | $4.1B | ||
| Q4 24 | $-1.7B | $4.1B | ||
| Q3 24 | $-1.7B | $4.0B | ||
| Q2 24 | $-1.7B | $4.0B | ||
| Q1 24 | $-1.6B | $3.9B |
总资产BBWIKBH
| Q4 25 | $5.0B | $6.7B | ||
| Q3 25 | $4.8B | $7.0B | ||
| Q2 25 | $4.9B | $7.0B | ||
| Q1 25 | $4.9B | $7.0B | ||
| Q4 24 | $5.0B | $6.9B | ||
| Q3 24 | $4.9B | $6.8B | ||
| Q2 24 | $5.2B | $6.8B | ||
| Q1 24 | $5.5B | $6.7B |
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 | $80.0M | $303.8M |
| 自由现金流经营现金流 - 资本支出 | $-1.0M | $290.1M |
| 自由现金流率自由现金流/营收 | -0.1% | 17.1% |
| 资本支出强度资本支出/营收 | 5.1% | 0.8% |
| 现金转化率经营现金流/净利润 | 1.04× | 2.99× |
| 过去12个月自由现金流最近4个季度 | $946.0M | $287.3M |
8季度趋势，按日历期对齐
经营现金流BBWIKBH
| Q4 25 | $80.0M | $303.8M | ||
| Q3 25 | $-43.0M | $197.7M | ||
| Q2 25 | $188.0M | $168.4M | ||
| Q1 25 | $955.0M | $-334.3M | ||
| Q4 24 | $-99.0M | $362.6M | ||
| Q3 24 | $-46.0M | $-89.9M | ||
| Q2 24 | $76.0M | $61.5M | ||
| Q1 24 | $926.0M | $28.5M |
自由现金流BBWIKBH
| Q4 25 | $-1.0M | $290.1M | ||
| Q3 25 | $-99.0M | $185.8M | ||
| Q2 25 | $151.0M | $156.9M | ||
| Q1 25 | $895.0M | $-345.5M | ||
| Q4 24 | $-164.0M | $352.6M | ||
| Q3 24 | $-101.0M | $-99.4M | ||
| Q2 24 | $30.0M | $51.2M | ||
| Q1 24 | $878.0M | $19.1M |
自由现金流率BBWIKBH
| Q4 25 | -0.1% | 17.1% | ||
| Q3 25 | -6.4% | 11.5% | ||
| Q2 25 | 10.6% | 10.3% | ||
| Q1 25 | 32.1% | -24.8% | ||
| Q4 24 | -10.2% | 17.6% | ||
| Q3 24 | -6.6% | -5.7% | ||
| Q2 24 | 2.2% | 3.0% | ||
| Q1 24 | 30.2% | 1.3% |
资本支出强度BBWIKBH
| Q4 25 | 5.1% | 0.8% | ||
| Q3 25 | 3.6% | 0.7% | ||
| Q2 25 | 2.6% | 0.8% | ||
| Q1 25 | 2.2% | 0.8% | ||
| Q4 24 | 4.0% | 0.5% | ||
| Q3 24 | 3.6% | 0.5% | ||
| Q2 24 | 3.3% | 0.6% | ||
| Q1 24 | 1.6% | 0.6% |
现金转化率BBWIKBH
| Q4 25 | 1.04× | 2.99× | ||
| Q3 25 | -0.67× | 1.80× | ||
| Q2 25 | 1.79× | 1.56× | ||
| Q1 25 | 2.11× | -3.05× | ||
| Q4 24 | -0.93× | 1.90× | ||
| Q3 24 | -0.30× | -0.57× | ||
| Q2 24 | 0.87× | 0.37× | ||
| Q1 24 | 1.60× | 0.21× |
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
BBWI
| Bath Body Works Stores | $1.2B | 77% |
| Bath Body Works Direct | $299.0M | 19% |
| Bath Body Works International | $73.0M | 5% |
KBH
| Home Building | $1.7B | 99% |
| Financial Service | $8.7M | 1% |
