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Bath & Body Works, Inc.（BBWI）与Sally Beauty Holdings, Inc.（SBH）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Sally Beauty Holdings, Inc.的1.7倍（$1.6B vs $943.2M）。Bath & Body Works, Inc.净利率更高（4.8% vs 4.8%，领先0.0%）。Sally Beauty Holdings, Inc.同比增速更快（0.6% vs -1.0%）。Sally Beauty Holdings, Inc.自由现金流更多（$57.5M vs $-1.0M）。过去两年Sally Beauty Holdings, Inc.的营收复合增速更高（1.9% 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。
莎莉美容控股是美国的跨国专业美妆用品零售及分销商，主营专业级美容相关产品供应，年营收超39亿美元，业务覆盖全球多个市场，在专业美容供应链领域拥有较高的行业知名度。
BBWI vs SBH — 直观对比
营收规模更大
BBWI
是对方的1.7倍
$943.2M
营收增速更快
SBH
高出1.6%
-1.0%
净利率更高
BBWI
高出0.0%
4.8%
自由现金流更多
SBH
多$58.5M
$-1.0M
两年增速更快
SBH
近两年复合增速
-26.0%
损益表 — Q4 2026 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $943.2M |
| 净利润 | $77.0M | $45.6M |
| 毛利率 | 41.3% | 51.2% |
| 营业利润率 | 10.1% | 8.1% |
| 净利率 | 4.8% | 4.8% |
| 营收同比 | -1.0% | 0.6% |
| 净利润同比 | -27.4% | -25.3% |
| 每股收益（稀释后） | $0.37 | $0.45 |
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BBWISBH
| Q4 25 | $1.6B | $943.2M | ||
| Q3 25 | $1.5B | $947.1M | ||
| Q2 25 | $1.4B | $933.3M | ||
| Q1 25 | $2.8B | $883.1M | ||
| Q4 24 | $1.6B | $937.9M | ||
| Q3 24 | $1.5B | $935.0M | ||
| Q2 24 | $1.4B | $942.3M | ||
| Q1 24 | $2.9B | $908.4M |
净利润BBWISBH
| Q4 25 | $77.0M | $45.6M | ||
| Q3 25 | $64.0M | $49.9M | ||
| Q2 25 | $105.0M | $45.7M | ||
| Q1 25 | $453.0M | $39.2M | ||
| Q4 24 | $106.0M | $61.0M | ||
| Q3 24 | $152.0M | $48.1M | ||
| Q2 24 | $87.0M | $37.7M | ||
| Q1 24 | $579.0M | $29.2M |
毛利率BBWISBH
| Q4 25 | 41.3% | 51.2% | ||
| Q3 25 | 41.3% | 52.2% | ||
| Q2 25 | 45.4% | 51.5% | ||
| Q1 25 | 46.7% | 52.0% | ||
| Q4 24 | 43.5% | 50.8% | ||
| Q3 24 | 41.0% | 51.2% | ||
| Q2 24 | 43.8% | 51.0% | ||
| Q1 24 | 45.9% | 51.0% |
营业利润率BBWISBH
| Q4 25 | 10.1% | 8.1% | ||
| Q3 25 | 10.1% | 8.4% | ||
| Q2 25 | 14.7% | 8.4% | ||
| Q1 25 | 24.3% | 7.9% | ||
| Q4 24 | 13.5% | 10.7% | ||
| Q3 24 | 12.0% | 8.8% | ||
| Q2 24 | 13.5% | 7.6% | ||
| Q1 24 | 23.9% | 6.6% |
净利率BBWISBH
| Q4 25 | 4.8% | 4.8% | ||
| Q3 25 | 4.1% | 5.3% | ||
| Q2 25 | 7.4% | 4.9% | ||
| Q1 25 | 16.3% | 4.4% | ||
| Q4 24 | 6.6% | 6.5% | ||
| Q3 24 | 10.0% | 5.1% | ||
| Q2 24 | 6.3% | 4.0% | ||
| Q1 24 | 19.9% | 3.2% |
每股收益（稀释后）BBWISBH
| Q4 25 | $0.37 | $0.45 | ||
| Q3 25 | $0.30 | $0.49 | ||
| Q2 25 | $0.49 | $0.44 | ||
| Q1 25 | $2.06 | $0.38 | ||
| Q4 24 | $0.49 | $0.58 | ||
| Q3 24 | $0.68 | $0.45 | ||
| Q2 24 | $0.38 | $0.36 | ||
| Q1 24 | $2.54 | $0.27 |
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 | $157.2M |
| 总债务越低越好 | $3.9B | $842.5M |
| 股东权益账面价值 | $-1.6B | $823.6M |
| 总资产 | $5.0B | $2.9B |
| 负债/权益比越低杠杆越低 | — | 1.02× |
8季度趋势，按日历期对齐
现金及短期投资BBWISBH
| Q4 25 | $236.0M | $157.2M | ||
| Q3 25 | $364.0M | $149.2M | ||
| Q2 25 | $636.0M | $112.8M | ||
| Q1 25 | $674.0M | $92.2M | ||
| Q4 24 | $191.0M | $105.5M | ||
| Q3 24 | $514.0M | $108.0M | ||
| Q2 24 | $855.0M | $97.4M | ||
| Q1 24 | $1.1B | $97.2M |
总债务BBWISBH
| Q4 25 | $3.9B | $842.5M | ||
| Q3 25 | $3.9B | $862.0M | ||
| Q2 25 | $3.9B | $882.4M | ||
| Q1 25 | $3.9B | $902.8M | ||
| Q4 24 | $4.2B | $938.1M | ||
| Q3 24 | $4.2B | $978.3M | ||
| Q2 24 | $4.3B | $978.9M | ||
| Q1 24 | $4.4B | $978.4M |
股东权益BBWISBH
| Q4 25 | $-1.6B | $823.6M | ||
| Q3 25 | $-1.5B | $794.2M | ||
| Q2 25 | $-1.5B | $762.9M | ||
| Q1 25 | $-1.4B | $699.8M | ||
| Q4 24 | $-1.7B | $656.5M | ||
| Q3 24 | $-1.7B | $628.5M | ||
| Q2 24 | $-1.7B | $577.7M | ||
| Q1 24 | $-1.6B | $550.9M |
总资产BBWISBH
| Q4 25 | $5.0B | $2.9B | ||
| Q3 25 | $4.8B | $2.9B | ||
| Q2 25 | $4.9B | $2.7B | ||
| Q1 25 | $4.9B | $2.7B | ||
| Q4 24 | $5.0B | $2.7B | ||
| Q3 24 | $4.9B | $2.8B | ||
| Q2 24 | $5.2B | $2.7B | ||
| Q1 24 | $5.5B | $2.7B |
负债/权益比BBWISBH
| Q4 25 | — | 1.02× | ||
| Q3 25 | — | 1.09× | ||
| Q2 25 | — | 1.16× | ||
| Q1 25 | — | 1.29× | ||
| Q4 24 | — | 1.43× | ||
| Q3 24 | — | 1.56× | ||
| Q2 24 | — | 1.69× | ||
| Q1 24 | — | 1.78× |
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 | $93.2M |
| 自由现金流经营现金流 - 资本支出 | $-1.0M | $57.5M |
| 自由现金流率自由现金流/营收 | -0.1% | 6.1% |
| 资本支出强度资本支出/营收 | 5.1% | 3.8% |
| 现金转化率经营现金流/净利润 | 1.04× | 2.05× |
| 过去12个月自由现金流最近4个季度 | $946.0M | $216.8M |
8季度趋势，按日历期对齐
经营现金流BBWISBH
| Q4 25 | $80.0M | $93.2M | ||
| Q3 25 | $-43.0M | $120.9M | ||
| Q2 25 | $188.0M | $69.4M | ||
| Q1 25 | $955.0M | $51.1M | ||
| Q4 24 | $-99.0M | $33.5M | ||
| Q3 24 | $-46.0M | $110.7M | ||
| Q2 24 | $76.0M | $47.9M | ||
| Q1 24 | $926.0M | $36.9M |
自由现金流BBWISBH
| Q4 25 | $-1.0M | $57.5M | ||
| Q3 25 | $-99.0M | $78.0M | ||
| Q2 25 | $151.0M | $49.1M | ||
| Q1 25 | $895.0M | $32.2M | ||
| Q4 24 | $-164.0M | $13.4M | ||
| Q3 24 | $-101.0M | $73.3M | ||
| Q2 24 | $30.0M | $28.7M | ||
| Q1 24 | $878.0M | $22.8M |
自由现金流率BBWISBH
| Q4 25 | -0.1% | 6.1% | ||
| Q3 25 | -6.4% | 8.2% | ||
| Q2 25 | 10.6% | 5.3% | ||
| Q1 25 | 32.1% | 3.6% | ||
| Q4 24 | -10.2% | 1.4% | ||
| Q3 24 | -6.6% | 7.8% | ||
| Q2 24 | 2.2% | 3.1% | ||
| Q1 24 | 30.2% | 2.5% |
资本支出强度BBWISBH
| Q4 25 | 5.1% | 3.8% | ||
| Q3 25 | 3.6% | 4.5% | ||
| Q2 25 | 2.6% | 2.2% | ||
| Q1 25 | 2.2% | 2.1% | ||
| Q4 24 | 4.0% | 2.1% | ||
| Q3 24 | 3.6% | 4.0% | ||
| Q2 24 | 3.3% | 2.0% | ||
| Q1 24 | 1.6% | 1.6% |
现金转化率BBWISBH
| Q4 25 | 1.04× | 2.05× | ||
| Q3 25 | -0.67× | 2.42× | ||
| Q2 25 | 1.79× | 1.52× | ||
| Q1 25 | 2.11× | 1.30× | ||
| Q4 24 | -0.93× | 0.55× | ||
| Q3 24 | -0.30× | 2.30× | ||
| Q2 24 | 0.87× | 1.27× | ||
| Q1 24 | 1.60× | 1.26× |
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% |
SBH
| Sally Beauty Supply | $531.6M | 56% |
| Beauty Systems Group | $411.6M | 44% |
