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BRUNSWICK CORP（BC）与TEREX CORP（TEX）财务数据对比。点击上方公司名可切换其他公司
BRUNSWICK CORP的季度营收约是TEREX CORP的1.0倍（$1.3B vs $1.3B），TEREX CORP净利率更高（4.8% vs 1.4%，领先3.4%），BRUNSWICK CORP同比增速更快（15.5% vs 6.2%），TEREX CORP自由现金流更多（$171.0M vs $83.6M），过去两年TEREX CORP的营收复合增速更高（1.0% vs -1.1%）
美国Brunswick公司创立于1845年，专注于多品类产品的研发、生产与营销，旗下拥有知名海事品牌水星海事（Mercury Marine）等多个品牌。目前集团在24个国家拥有超1.3万名员工，2024年销售额达52亿美元，全球总部位于伊利诺伊州芝加哥北郊的梅塔瓦。
特雷克斯公司是美国知名的设备制造企业，业务遍布美洲、欧洲、澳大利亚及亚太地区，主营物料加工机械、废弃物回收处理设备、移动式高空作业平台，以及电力行业专用设备，为全球多领域客户提供专业解决方案。
BC vs TEX — 直观对比
营收规模更大
BC
是对方的1.0倍
$1.3B
营收增速更快
BC
高出9.3%
6.2%
净利率更高
TEX
高出3.4%
1.4%
自由现金流更多
TEX
多$87.4M
$83.6M
两年增速更快
TEX
近两年复合增速
-1.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.3B |
| 净利润 | $18.7M | $63.0M |
| 毛利率 | 23.1% | 18.8% |
| 营业利润率 | 3.1% | 10.4% |
| 净利率 | 1.4% | 4.8% |
| 营收同比 | 15.5% | 6.2% |
| 净利润同比 | 122.7% | 2963.6% |
| 每股收益（稀释后） | $0.32 | $0.95 |
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BCTEX
| Q4 25 | $1.3B | $1.3B | ||
| Q3 25 | $1.4B | $1.4B | ||
| Q2 25 | $1.4B | $1.5B | ||
| Q1 25 | $1.2B | $1.2B | ||
| Q4 24 | $1.2B | $1.2B | ||
| Q3 24 | $1.3B | $1.2B | ||
| Q2 24 | $1.4B | $1.4B | ||
| Q1 24 | $1.4B | $1.3B |
净利润BCTEX
| Q4 25 | $18.7M | $63.0M | ||
| Q3 25 | $-235.5M | $65.0M | ||
| Q2 25 | $59.3M | $72.0M | ||
| Q1 25 | $20.2M | $21.0M | ||
| Q4 24 | $-82.5M | $-2.2M | ||
| Q3 24 | $44.6M | $88.0M | ||
| Q2 24 | $100.0M | $140.7M | ||
| Q1 24 | $68.0M | $108.5M |
毛利率BCTEX
| Q4 25 | 23.1% | 18.8% | ||
| Q3 25 | 25.8% | 20.3% | ||
| Q2 25 | 25.5% | 19.6% | ||
| Q1 25 | 24.9% | 18.7% | ||
| Q4 24 | 21.9% | 15.9% | ||
| Q3 24 | 26.2% | 20.2% | ||
| Q2 24 | 27.1% | 23.8% | ||
| Q1 24 | 27.4% | 23.0% |
营业利润率BCTEX
| Q4 25 | 3.1% | 10.4% | ||
| Q3 25 | -17.8% | 10.1% | ||
| Q2 25 | 7.1% | 8.7% | ||
| Q1 25 | 4.6% | 5.6% | ||
| Q4 24 | -4.8% | 4.2% | ||
| Q3 24 | 7.7% | 10.1% | ||
| Q2 24 | 11.0% | 14.0% | ||
| Q1 24 | 8.1% | 12.2% |
净利率BCTEX
| Q4 25 | 1.4% | 4.8% | ||
| Q3 25 | -17.3% | 4.7% | ||
| Q2 25 | 4.1% | 4.8% | ||
| Q1 25 | 1.7% | 1.7% | ||
| Q4 24 | -7.1% | -0.2% | ||
| Q3 24 | 3.5% | 7.3% | ||
| Q2 24 | 6.9% | 10.2% | ||
| Q1 24 | 5.0% | 8.4% |
每股收益（稀释后）BCTEX
| Q4 25 | $0.32 | $0.95 | ||
| Q3 25 | $-3.59 | $0.98 | ||
| Q2 25 | $0.89 | $1.09 | ||
| Q1 25 | $0.30 | $0.31 | ||
| Q4 24 | $-1.21 | $-0.03 | ||
| Q3 24 | $0.67 | $1.31 | ||
| Q2 24 | $1.48 | $2.08 | ||
| Q1 24 | $0.99 | $1.60 |
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 | $256.8M | $772.0M |
| 总债务越低越好 | $2.1B | $2.6B |
| 股东权益账面价值 | $1.6B | $2.1B |
| 总资产 | $5.3B | $6.1B |
| 负债/权益比越低杠杆越低 | 1.30× | 1.23× |
8季度趋势，按日历期对齐
现金及短期投资BCTEX
| Q4 25 | $256.8M | $772.0M | ||
| Q3 25 | $297.7M | $509.0M | ||
| Q2 25 | $315.7M | $374.0M | ||
| Q1 25 | $286.7M | $298.0M | ||
| Q4 24 | $269.0M | $388.0M | ||
| Q3 24 | $284.1M | $352.0M | ||
| Q2 24 | $494.5M | $319.3M | ||
| Q1 24 | $548.4M | $364.9M |
总债务BCTEX
| Q4 25 | $2.1B | $2.6B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $2.4B | $2.6B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益BCTEX
| Q4 25 | $1.6B | $2.1B | ||
| Q3 25 | $1.6B | $2.0B | ||
| Q2 25 | $1.9B | $2.0B | ||
| Q1 25 | $1.9B | $1.8B | ||
| Q4 24 | $1.9B | $1.8B | ||
| Q3 24 | $2.0B | $2.0B | ||
| Q2 24 | $2.0B | $1.8B | ||
| Q1 24 | $2.0B | $1.7B |
总资产BCTEX
| Q4 25 | $5.3B | $6.1B | ||
| Q3 25 | $5.4B | $6.2B | ||
| Q2 25 | $5.8B | $6.2B | ||
| Q1 25 | $5.9B | $5.8B | ||
| Q4 24 | $5.7B | $5.7B | ||
| Q3 24 | $6.0B | $3.8B | ||
| Q2 24 | $6.4B | $3.8B | ||
| Q1 24 | $6.5B | $3.8B |
负债/权益比BCTEX
| Q4 25 | 1.30× | 1.23× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.25× | 1.41× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $132.9M | $205.0M |
| 自由现金流经营现金流 - 资本支出 | $83.6M | $171.0M |
| 自由现金流率自由现金流/营收 | 6.3% | 13.0% |
| 资本支出强度资本支出/营收 | 3.7% | 2.6% |
| 现金转化率经营现金流/净利润 | 7.11× | 3.25× |
| 过去12个月自由现金流最近4个季度 | $396.3M | $322.0M |
8季度趋势，按日历期对齐
经营现金流BCTEX
| Q4 25 | $132.9M | $205.0M | ||
| Q3 25 | $140.4M | $154.0M | ||
| Q2 25 | $316.2M | $102.0M | ||
| Q1 25 | $-27.4M | $-21.0M | ||
| Q4 24 | $306.4M | $177.0M | ||
| Q3 24 | $67.4M | $116.4M | ||
| Q2 24 | $211.0M | $66.5M | ||
| Q1 24 | $-153.4M | $-33.9M |
自由现金流BCTEX
| Q4 25 | $83.6M | $171.0M | ||
| Q3 25 | $106.5M | $130.0M | ||
| Q2 25 | $271.3M | $78.0M | ||
| Q1 25 | $-65.1M | $-57.0M | ||
| Q4 24 | $276.1M | $128.0M | ||
| Q3 24 | $31.4M | $87.4M | ||
| Q2 24 | $163.9M | $42.5M | ||
| Q1 24 | $-207.4M | $-68.9M |
自由现金流率BCTEX
| Q4 25 | 6.3% | 13.0% | ||
| Q3 25 | 7.8% | 9.4% | ||
| Q2 25 | 18.7% | 5.2% | ||
| Q1 25 | -5.3% | -4.6% | ||
| Q4 24 | 23.9% | 10.3% | ||
| Q3 24 | 2.5% | 7.2% | ||
| Q2 24 | 11.4% | 3.1% | ||
| Q1 24 | -15.2% | -5.3% |
资本支出强度BCTEX
| Q4 25 | 3.7% | 2.6% | ||
| Q3 25 | 2.5% | 1.7% | ||
| Q2 25 | 3.1% | 1.6% | ||
| Q1 25 | 3.1% | 2.9% | ||
| Q4 24 | 2.6% | 3.9% | ||
| Q3 24 | 2.8% | 2.4% | ||
| Q2 24 | 3.3% | 1.7% | ||
| Q1 24 | 4.0% | 2.7% |
现金转化率BCTEX
| Q4 25 | 7.11× | 3.25× | ||
| Q3 25 | — | 2.37× | ||
| Q2 25 | 5.33× | 1.42× | ||
| Q1 25 | -1.36× | -1.00× | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.51× | 1.32× | ||
| Q2 24 | 2.11× | 0.47× | ||
| Q1 24 | -2.26× | -0.31× |
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
BC
| Engine Partsand Accessories | $532.4M | 40% |
| Navico Group | $452.9M | 34% |
| Recreational Fiberglass Boats | $111.6M | 8% |
| Saltwater Fishing Boats | $85.7M | 6% |
| Controls Riggingand Propellers | $78.3M | 6% |
| Business Acceleration | $48.1M | 4% |
| Sterndrive Engine | $32.6M | 2% |
TEX
| Aerials Segment | $466.0M | 35% |
| Materials Processing Segment | $428.0M | 32% |
| Materials Processing Equipment | $279.0M | 21% |
| Specialty Equipment | $148.0M | 11% |
