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Bath & Body Works, Inc.（BBWI）与美森（MATX）财务数据对比。点击上方公司名可切换其他公司
Bath & Body Works, Inc.的季度营收约是美森的1.9倍（$1.6B vs $851.9M），美森净利率更高（16.8% vs 4.8%，领先12.0%），Bath & Body Works, Inc.同比增速更快（-1.0% vs -4.3%），美森自由现金流更多（$42.2M vs $-1.0M），过去两年美森的营收复合增速更高（8.6% 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。
美森公司（Matson, Inc.）是美国知名航运服务企业，总部位于夏威夷州火奴鲁鲁，成立于1882年。旗下子公司美森航运主营跨太平洋海运业务，服务覆盖夏威夷、阿拉斯加、关岛、密克罗尼西亚、太平洋诸岛、中国及日本等地区。
BBWI vs MATX — 直观对比
营收规模更大
BBWI
是对方的1.9倍
$851.9M
营收增速更快
BBWI
高出3.3%
-4.3%
净利率更高
MATX
高出12.0%
4.8%
自由现金流更多
MATX
多$43.2M
$-1.0M
两年增速更快
MATX
近两年复合增速
-26.0%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $851.9M |
| 净利润 | $77.0M | $143.1M |
| 毛利率 | 41.3% | — |
| 营业利润率 | 10.1% | 16.9% |
| 净利率 | 4.8% | 16.8% |
| 营收同比 | -1.0% | -4.3% |
| 净利润同比 | -27.4% | 11.8% |
| 每股收益（稀释后） | $0.37 | $4.47 |
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BBWIMATX
| Q4 25 | $1.6B | $851.9M | ||
| Q3 25 | $1.5B | $880.1M | ||
| Q2 25 | $1.4B | $830.5M | ||
| Q1 25 | $2.8B | $782.0M | ||
| Q4 24 | $1.6B | $890.3M | ||
| Q3 24 | $1.5B | $962.0M | ||
| Q2 24 | $1.4B | $847.4M | ||
| Q1 24 | $2.9B | $722.1M |
净利润BBWIMATX
| Q4 25 | $77.0M | $143.1M | ||
| Q3 25 | $64.0M | $134.7M | ||
| Q2 25 | $105.0M | $94.7M | ||
| Q1 25 | $453.0M | $72.3M | ||
| Q4 24 | $106.0M | $128.0M | ||
| Q3 24 | $152.0M | $199.1M | ||
| Q2 24 | $87.0M | $113.2M | ||
| Q1 24 | $579.0M | $36.1M |
毛利率BBWIMATX
| 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BBWIMATX
| Q4 25 | 10.1% | 16.9% | ||
| Q3 25 | 10.1% | 18.3% | ||
| Q2 25 | 14.7% | 13.6% | ||
| Q1 25 | 24.3% | 10.5% | ||
| Q4 24 | 13.5% | 16.6% | ||
| Q3 24 | 12.0% | 25.2% | ||
| Q2 24 | 13.5% | 14.7% | ||
| Q1 24 | 23.9% | 5.1% |
净利率BBWIMATX
| Q4 25 | 4.8% | 16.8% | ||
| Q3 25 | 4.1% | 15.3% | ||
| Q2 25 | 7.4% | 11.4% | ||
| Q1 25 | 16.3% | 9.2% | ||
| Q4 24 | 6.6% | 14.4% | ||
| Q3 24 | 10.0% | 20.7% | ||
| Q2 24 | 6.3% | 13.4% | ||
| Q1 24 | 19.9% | 5.0% |
每股收益（稀释后）BBWIMATX
| Q4 25 | $0.37 | $4.47 | ||
| Q3 25 | $0.30 | $4.24 | ||
| Q2 25 | $0.49 | $2.92 | ||
| Q1 25 | $2.06 | $2.18 | ||
| Q4 24 | $0.49 | $3.69 | ||
| Q3 24 | $0.68 | $5.89 | ||
| Q2 24 | $0.38 | $3.31 | ||
| Q1 24 | $2.54 | $1.04 |
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 | $141.9M |
| 总债务越低越好 | $3.9B | $361.2M |
| 股东权益账面价值 | $-1.6B | $2.8B |
| 总资产 | $5.0B | $4.6B |
| 负债/权益比越低杠杆越低 | — | 0.13× |
8季度趋势，按日历期对齐
现金及短期投资BBWIMATX
| Q4 25 | $236.0M | $141.9M | ||
| Q3 25 | $364.0M | $92.7M | ||
| Q2 25 | $636.0M | $59.1M | ||
| Q1 25 | $674.0M | $122.0M | ||
| Q4 24 | $191.0M | $266.8M | ||
| Q3 24 | $514.0M | $270.3M | ||
| Q2 24 | $855.0M | $168.2M | ||
| Q1 24 | $1.1B | $25.9M |
总债务BBWIMATX
| Q4 25 | $3.9B | $361.2M | ||
| Q3 25 | $3.9B | $370.9M | ||
| Q2 25 | $3.9B | $341.3M | ||
| Q1 25 | $3.9B | $351.1M | ||
| Q4 24 | $4.2B | $361.2M | ||
| Q3 24 | $4.2B | $370.9M | ||
| Q2 24 | $4.3B | $381.0M | ||
| Q1 24 | $4.4B | $390.8M |
股东权益BBWIMATX
| Q4 25 | $-1.6B | $2.8B | ||
| Q3 25 | $-1.5B | $2.7B | ||
| Q2 25 | $-1.5B | $2.6B | ||
| Q1 25 | $-1.4B | $2.6B | ||
| Q4 24 | $-1.7B | $2.7B | ||
| Q3 24 | $-1.7B | $2.6B | ||
| Q2 24 | $-1.7B | $2.4B | ||
| Q1 24 | $-1.6B | $2.4B |
总资产BBWIMATX
| Q4 25 | $5.0B | $4.6B | ||
| Q3 25 | $4.8B | $4.6B | ||
| Q2 25 | $4.9B | $4.5B | ||
| Q1 25 | $4.9B | $4.5B | ||
| Q4 24 | $5.0B | $4.6B | ||
| Q3 24 | $4.9B | $4.4B | ||
| Q2 24 | $5.2B | $4.3B | ||
| Q1 24 | $5.5B | $4.2B |
负债/权益比BBWIMATX
| Q4 25 | — | 0.13× | ||
| Q3 25 | — | 0.14× | ||
| Q2 25 | — | 0.13× | ||
| Q1 25 | — | 0.13× | ||
| Q4 24 | — | 0.14× | ||
| Q3 24 | — | 0.15× | ||
| Q2 24 | — | 0.16× | ||
| Q1 24 | — | 0.16× |
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 | $176.9M |
| 自由现金流经营现金流 - 资本支出 | $-1.0M | $42.2M |
| 自由现金流率自由现金流/营收 | -0.1% | 5.0% |
| 资本支出强度资本支出/营收 | 5.1% | 15.8% |
| 现金转化率经营现金流/净利润 | 1.04× | 1.24× |
| 过去12个月自由现金流最近4个季度 | $946.0M | $153.7M |
8季度趋势，按日历期对齐
经营现金流BBWIMATX
| Q4 25 | $80.0M | $176.9M | ||
| Q3 25 | $-43.0M | $175.6M | ||
| Q2 25 | $188.0M | $105.6M | ||
| Q1 25 | $955.0M | $89.0M | ||
| Q4 24 | $-99.0M | $174.7M | ||
| Q3 24 | $-46.0M | $248.6M | ||
| Q2 24 | $76.0M | $307.9M | ||
| Q1 24 | $926.0M | $36.6M |
自由现金流BBWIMATX
| Q4 25 | $-1.0M | $42.2M | ||
| Q3 25 | $-99.0M | $92.4M | ||
| Q2 25 | $151.0M | $19.3M | ||
| Q1 25 | $895.0M | $-200.0K | ||
| Q4 24 | $-164.0M | $49.3M | ||
| Q3 24 | $-101.0M | $189.0M | ||
| Q2 24 | $30.0M | $238.1M | ||
| Q1 24 | $878.0M | $-18.7M |
自由现金流率BBWIMATX
| Q4 25 | -0.1% | 5.0% | ||
| Q3 25 | -6.4% | 10.5% | ||
| Q2 25 | 10.6% | 2.3% | ||
| Q1 25 | 32.1% | -0.0% | ||
| Q4 24 | -10.2% | 5.5% | ||
| Q3 24 | -6.6% | 19.6% | ||
| Q2 24 | 2.2% | 28.1% | ||
| Q1 24 | 30.2% | -2.6% |
资本支出强度BBWIMATX
| Q4 25 | 5.1% | 15.8% | ||
| Q3 25 | 3.6% | 9.5% | ||
| Q2 25 | 2.6% | 10.4% | ||
| Q1 25 | 2.2% | 11.4% | ||
| Q4 24 | 4.0% | 14.1% | ||
| Q3 24 | 3.6% | 6.2% | ||
| Q2 24 | 3.3% | 8.2% | ||
| Q1 24 | 1.6% | 7.7% |
现金转化率BBWIMATX
| Q4 25 | 1.04× | 1.24× | ||
| Q3 25 | -0.67× | 1.30× | ||
| Q2 25 | 1.79× | 1.12× | ||
| Q1 25 | 2.11× | 1.23× | ||
| Q4 24 | -0.93× | 1.36× | ||
| Q3 24 | -0.30× | 1.25× | ||
| Q2 24 | 0.87× | 2.72× | ||
| Q1 24 | 1.60× | 1.01× |
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% |
MATX
| Ocean Transportation Segment | $704.2M | 83% |
| Logistics Services Segment | $147.7M | 17% |
