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Bath & Body Works, Inc.（BBWI）与WATSCO INC（WSO）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WATSCO INC的1.0倍（$1.6B vs $1.6B），Bath & Body Works, Inc.净利率更高（4.8% vs 4.5%，领先0.3%），Bath & Body Works, Inc.同比增速更快（-1.0% vs -10.0%），WATSCO INC自由现金流更多（$388.5M vs $-1.0M），过去两年WATSCO INC的营收复合增速更高（0.4% 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。
Watsco Inc.是美国暖通空调、供暖及制冷（HVAC/R）设备及相关零部件、耗材的专业分销商。公司成立至今已超60年，最初主营HVAC/R行业相关零部件、工具制造业务，1989年通过收购佛罗里达州南部的瑞姆品牌分销商Gemaire Distributors Inc，正式从制造赛道转向分销领域。
BBWI vs WSO — 直观对比
营收规模更大
BBWI
是对方的1.0倍
$1.6B
营收增速更快
BBWI
高出9.0%
-10.0%
净利率更高
BBWI
高出0.3%
4.5%
自由现金流更多
WSO
多$389.5M
$-1.0M
两年增速更快
WSO
近两年复合增速
-26.0%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $1.6B |
| 净利润 | $77.0M | $71.7M |
| 毛利率 | 41.3% | 27.1% |
| 营业利润率 | 10.1% | 6.4% |
| 净利率 | 4.8% | 4.5% |
| 营收同比 | -1.0% | -10.0% |
| 净利润同比 | -27.4% | -25.9% |
| 每股收益（稀释后） | $0.37 | $1.82 |
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BBWIWSO
| Q4 25 | $1.6B | $1.6B | ||
| Q3 25 | $1.5B | $2.1B | ||
| Q2 25 | $1.4B | $2.1B | ||
| Q1 25 | $2.8B | $1.5B | ||
| Q4 24 | $1.6B | $1.8B | ||
| Q3 24 | $1.5B | $2.2B | ||
| Q2 24 | $1.4B | $2.1B | ||
| Q1 24 | $2.9B | $1.6B |
净利润BBWIWSO
| Q4 25 | $77.0M | $71.7M | ||
| Q3 25 | $64.0M | $161.6M | ||
| Q2 25 | $105.0M | $183.6M | ||
| Q1 25 | $453.0M | $80.1M | ||
| Q4 24 | $106.0M | $96.8M | ||
| Q3 24 | $152.0M | $171.0M | ||
| Q2 24 | $87.0M | $181.4M | ||
| Q1 24 | $579.0M | $87.0M |
毛利率BBWIWSO
| Q4 25 | 41.3% | 27.1% | ||
| Q3 25 | 41.3% | 27.5% | ||
| Q2 25 | 45.4% | 29.3% | ||
| Q1 25 | 46.7% | 28.1% | ||
| Q4 24 | 43.5% | 26.7% | ||
| Q3 24 | 41.0% | 26.2% | ||
| Q2 24 | 43.8% | 27.1% | ||
| Q1 24 | 45.9% | 27.5% |
营业利润率BBWIWSO
| Q4 25 | 10.1% | 6.4% | ||
| Q3 25 | 10.1% | 11.4% | ||
| Q2 25 | 14.7% | 13.2% | ||
| Q1 25 | 24.3% | 7.3% | ||
| Q4 24 | 13.5% | 7.8% | ||
| Q3 24 | 12.0% | 11.6% | ||
| Q2 24 | 13.5% | 12.6% | ||
| Q1 24 | 23.9% | 8.1% |
净利率BBWIWSO
| Q4 25 | 4.8% | 4.5% | ||
| Q3 25 | 4.1% | 7.8% | ||
| Q2 25 | 7.4% | 8.9% | ||
| Q1 25 | 16.3% | 5.2% | ||
| Q4 24 | 6.6% | 5.5% | ||
| Q3 24 | 10.0% | 7.9% | ||
| Q2 24 | 6.3% | 8.5% | ||
| Q1 24 | 19.9% | 5.6% |
每股收益（稀释后）BBWIWSO
| Q4 25 | $0.37 | $1.82 | ||
| Q3 25 | $0.30 | $3.98 | ||
| Q2 25 | $0.49 | $4.52 | ||
| Q1 25 | $2.06 | $1.93 | ||
| Q4 24 | $0.49 | $2.42 | ||
| Q3 24 | $0.68 | $4.22 | ||
| Q2 24 | $0.38 | $4.49 | ||
| Q1 24 | $2.54 | $2.17 |
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 | $733.3M |
| 总债务越低越好 | $3.9B | $361.6M |
| 股东权益账面价值 | $-1.6B | $2.8B |
| 总资产 | $5.0B | $4.4B |
| 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BBWIWSO
| Q4 25 | $236.0M | $733.3M | ||
| Q3 25 | $364.0M | $524.3M | ||
| Q2 25 | $636.0M | $293.0M | ||
| Q1 25 | $674.0M | $431.8M | ||
| Q4 24 | $191.0M | $781.9M | ||
| Q3 24 | $514.0M | $550.0M | ||
| Q2 24 | $855.0M | $424.9M | ||
| Q1 24 | $1.1B | $478.9M |
总债务BBWIWSO
| Q4 25 | $3.9B | $361.6M | ||
| Q3 25 | $3.9B | $340.8M | ||
| Q2 25 | $3.9B | $338.7M | ||
| Q1 25 | $3.9B | $346.4M | ||
| Q4 24 | $4.2B | $337.2M | ||
| Q3 24 | $4.2B | $321.0M | ||
| Q2 24 | $4.3B | $307.1M | ||
| Q1 24 | $4.4B | $306.3M |
股东权益BBWIWSO
| Q4 25 | $-1.6B | $2.8B | ||
| Q3 25 | $-1.5B | $2.8B | ||
| Q2 25 | $-1.5B | $2.8B | ||
| Q1 25 | $-1.4B | $2.7B | ||
| Q4 24 | $-1.7B | $2.7B | ||
| Q3 24 | $-1.7B | $2.7B | ||
| Q2 24 | $-1.7B | $2.6B | ||
| Q1 24 | $-1.6B | $2.5B |
总资产BBWIWSO
| Q4 25 | $5.0B | $4.4B | ||
| Q3 25 | $4.8B | $4.6B | ||
| Q2 25 | $4.9B | $4.7B | ||
| Q1 25 | $4.9B | $4.5B | ||
| Q4 24 | $5.0B | $4.5B | ||
| Q3 24 | $4.9B | $4.5B | ||
| Q2 24 | $5.2B | $4.4B | ||
| Q1 24 | $5.5B | $4.4B |
负债/权益比BBWIWSO
| Q4 25 | — | 0.13× | ||
| Q3 25 | — | 0.12× | ||
| Q2 25 | — | 0.12× | ||
| Q1 25 | — | 0.13× | ||
| Q4 24 | — | 0.13× | ||
| Q3 24 | — | 0.12× | ||
| Q2 24 | — | 0.12× | ||
| Q1 24 | — | 0.12× |
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 | $399.8M |
| 自由现金流经营现金流 - 资本支出 | $-1.0M | $388.5M |
| 自由现金流率自由现金流/营收 | -0.1% | 24.6% |
| 资本支出强度资本支出/营收 | 5.1% | 0.7% |
| 现金转化率经营现金流/净利润 | 1.04× | 5.57× |
| 过去12个月自由现金流最近4个季度 | $946.0M | $535.1M |
8季度趋势，按日历期对齐
经营现金流BBWIWSO
| Q4 25 | $80.0M | $399.8M | ||
| Q3 25 | $-43.0M | $354.9M | ||
| Q2 25 | $188.0M | $-7.4M | ||
| Q1 25 | $955.0M | $-177.6M | ||
| Q4 24 | $-99.0M | $378.9M | ||
| Q3 24 | $-46.0M | $232.8M | ||
| Q2 24 | $76.0M | $57.7M | ||
| Q1 24 | $926.0M | $103.7M |
自由现金流BBWIWSO
| Q4 25 | $-1.0M | $388.5M | ||
| Q3 25 | $-99.0M | $346.1M | ||
| Q2 25 | $151.0M | $-14.3M | ||
| Q1 25 | $895.0M | $-185.2M | ||
| Q4 24 | $-164.0M | $370.9M | ||
| Q3 24 | $-101.0M | $223.0M | ||
| Q2 24 | $30.0M | $51.3M | ||
| Q1 24 | $878.0M | $97.9M |
自由现金流率BBWIWSO
| Q4 25 | -0.1% | 24.6% | ||
| Q3 25 | -6.4% | 16.7% | ||
| Q2 25 | 10.6% | -0.7% | ||
| Q1 25 | 32.1% | -12.1% | ||
| Q4 24 | -10.2% | 21.1% | ||
| Q3 24 | -6.6% | 10.3% | ||
| Q2 24 | 2.2% | 2.4% | ||
| Q1 24 | 30.2% | 6.3% |
资本支出强度BBWIWSO
| Q4 25 | 5.1% | 0.7% | ||
| Q3 25 | 3.6% | 0.4% | ||
| Q2 25 | 2.6% | 0.3% | ||
| Q1 25 | 2.2% | 0.5% | ||
| Q4 24 | 4.0% | 0.5% | ||
| Q3 24 | 3.6% | 0.5% | ||
| Q2 24 | 3.3% | 0.3% | ||
| Q1 24 | 1.6% | 0.4% |
现金转化率BBWIWSO
| Q4 25 | 1.04× | 5.57× | ||
| Q3 25 | -0.67× | 2.20× | ||
| Q2 25 | 1.79× | -0.04× | ||
| Q1 25 | 2.11× | -2.22× | ||
| Q4 24 | -0.93× | 3.91× | ||
| Q3 24 | -0.30× | 1.36× | ||
| Q2 24 | 0.87× | 0.32× | ||
| Q1 24 | 1.60× | 1.19× |
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% |
WSO
暂无分部数据
