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BRUNSWICK CORP（BC）与Ubiquiti Inc.（UI）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Ubiquiti Inc.的1.6倍（$1.3B vs $814.9M），Ubiquiti Inc.净利率更高（28.7% vs 1.4%，领先27.3%），Ubiquiti Inc.同比增速更快（35.8% vs 15.5%），Ubiquiti Inc.自由现金流更多（$260.3M vs $83.6M），过去两年Ubiquiti Inc.的营收复合增速更高（28.6% 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。
Ubiquiti Inc.是一家美国科技企业，2003年于加利福尼亚州圣何塞成立，目前总部位于纽约。公司旗下拥有多个品牌，主营面向企业及家庭用户的有线、无线数据通信产品的研发、生产与销售。
BC vs UI — 直观对比
营收规模更大
BC
是对方的1.6倍
$814.9M
营收增速更快
UI
高出20.3%
15.5%
净利率更高
UI
高出27.3%
1.4%
自由现金流更多
UI
多$176.7M
$83.6M
两年增速更快
UI
近两年复合增速
-1.1%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $814.9M |
| 净利润 | $18.7M | $233.6M |
| 毛利率 | 23.1% | 45.9% |
| 营业利润率 | 3.1% | 35.9% |
| 净利率 | 1.4% | 28.7% |
| 营收同比 | 15.5% | 35.8% |
| 净利润同比 | 122.7% | 70.8% |
| 每股收益（稀释后） | $0.32 | $3.86 |
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BCUI
| Q4 25 | $1.3B | $814.9M | ||
| Q3 25 | $1.4B | $733.8M | ||
| Q2 25 | $1.4B | $759.2M | ||
| Q1 25 | $1.2B | $664.2M | ||
| Q4 24 | $1.2B | $599.9M | ||
| Q3 24 | $1.3B | $550.3M | ||
| Q2 24 | $1.4B | $507.5M | ||
| Q1 24 | $1.4B | $493.0M |
净利润BCUI
| Q4 25 | $18.7M | $233.6M | ||
| Q3 25 | $-235.5M | $207.9M | ||
| Q2 25 | $59.3M | $266.7M | ||
| Q1 25 | $20.2M | $180.4M | ||
| Q4 24 | $-82.5M | $136.8M | ||
| Q3 24 | $44.6M | $128.0M | ||
| Q2 24 | $100.0M | $103.8M | ||
| Q1 24 | $68.0M | $76.3M |
毛利率BCUI
| Q4 25 | 23.1% | 45.9% | ||
| Q3 25 | 25.8% | 46.0% | ||
| Q2 25 | 25.5% | 45.1% | ||
| Q1 25 | 24.9% | 44.5% | ||
| Q4 24 | 21.9% | 41.2% | ||
| Q3 24 | 26.2% | 42.1% | ||
| Q2 24 | 27.1% | 40.2% | ||
| Q1 24 | 27.4% | 35.3% |
营业利润率BCUI
| Q4 25 | 3.1% | 35.9% | ||
| Q3 25 | -17.8% | 35.7% | ||
| Q2 25 | 7.1% | 34.4% | ||
| Q1 25 | 4.6% | 34.2% | ||
| Q4 24 | -4.8% | 29.8% | ||
| Q3 24 | 7.7% | 30.7% | ||
| Q2 24 | 11.0% | 27.3% | ||
| Q1 24 | 8.1% | 22.6% |
净利率BCUI
| Q4 25 | 1.4% | 28.7% | ||
| Q3 25 | -17.3% | 28.3% | ||
| Q2 25 | 4.1% | 35.1% | ||
| Q1 25 | 1.7% | 27.2% | ||
| Q4 24 | -7.1% | 22.8% | ||
| Q3 24 | 3.5% | 23.3% | ||
| Q2 24 | 6.9% | 20.5% | ||
| Q1 24 | 5.0% | 15.5% |
每股收益（稀释后）BCUI
| Q4 25 | $0.32 | $3.86 | ||
| Q3 25 | $-3.59 | $3.43 | ||
| Q2 25 | $0.89 | $4.40 | ||
| Q1 25 | $0.30 | $2.98 | ||
| Q4 24 | $-1.21 | $2.26 | ||
| Q3 24 | $0.67 | $2.12 | ||
| Q2 24 | $1.48 | $1.72 | ||
| Q1 24 | $0.99 | $1.26 |
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 | $302.8M |
| 总债务越低越好 | $2.1B | $47.5M |
| 股东权益账面价值 | $1.6B | $1.0B |
| 总资产 | $5.3B | $1.6B |
| 负债/权益比越低杠杆越低 | 1.30× | 0.05× |
8季度趋势，按日历期对齐
现金及短期投资BCUI
| Q4 25 | $256.8M | $302.8M | ||
| Q3 25 | $297.7M | $177.2M | ||
| Q2 25 | $315.7M | $149.7M | ||
| Q1 25 | $286.7M | $151.0M | ||
| Q4 24 | $269.0M | $133.1M | ||
| Q3 24 | $284.1M | $165.2M | ||
| Q2 24 | $494.5M | $126.3M | ||
| Q1 24 | $548.4M | $102.5M |
总债务BCUI
| Q4 25 | $2.1B | $47.5M | ||
| Q3 25 | — | $133.8M | ||
| Q2 25 | — | $250.0M | ||
| Q1 25 | — | $340.0M | ||
| Q4 24 | $2.4B | $406.3M | ||
| Q3 24 | — | $552.5M | ||
| Q2 24 | — | $708.1M | ||
| Q1 24 | — | $877.5M |
股东权益BCUI
| Q4 25 | $1.6B | $1.0B | ||
| Q3 25 | $1.6B | $828.4M | ||
| Q2 25 | $1.9B | $668.3M | ||
| Q1 25 | $1.9B | $436.1M | ||
| Q4 24 | $1.9B | $290.4M | ||
| Q3 24 | $2.0B | $188.1M | ||
| Q2 24 | $2.0B | $95.1M | ||
| Q1 24 | $2.0B | $25.9M |
总资产BCUI
| Q4 25 | $5.3B | $1.6B | ||
| Q3 25 | $5.4B | $1.5B | ||
| Q2 25 | $5.8B | $1.5B | ||
| Q1 25 | $5.9B | $1.3B | ||
| Q4 24 | $5.7B | $1.2B | ||
| Q3 24 | $6.0B | $1.2B | ||
| Q2 24 | $6.4B | $1.2B | ||
| Q1 24 | $6.5B | $1.2B |
负债/权益比BCUI
| Q4 25 | 1.30× | 0.05× | ||
| Q3 25 | — | 0.16× | ||
| Q2 25 | — | 0.37× | ||
| Q1 25 | — | 0.78× | ||
| Q4 24 | 1.25× | 1.40× | ||
| Q3 24 | — | 2.94× | ||
| Q2 24 | — | 7.45× | ||
| Q1 24 | — | 33.92× |
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 | $263.9M |
| 自由现金流经营现金流 - 资本支出 | $83.6M | $260.3M |
| 自由现金流率自由现金流/营收 | 6.3% | 31.9% |
| 资本支出强度资本支出/营收 | 3.7% | 0.4% |
| 现金转化率经营现金流/净利润 | 7.11× | 1.13× |
| 过去12个月自由现金流最近4个季度 | $396.3M | $699.5M |
8季度趋势，按日历期对齐
经营现金流BCUI
| Q4 25 | $132.9M | $263.9M | ||
| Q3 25 | $140.4M | $198.5M | ||
| Q2 25 | $316.2M | $130.4M | ||
| Q1 25 | $-27.4M | $123.6M | ||
| Q4 24 | $306.4M | $152.4M | ||
| Q3 24 | $67.4M | $233.7M | ||
| Q2 24 | $211.0M | $231.4M | ||
| Q1 24 | $-153.4M | $163.9M |
自由现金流BCUI
| Q4 25 | $83.6M | $260.3M | ||
| Q3 25 | $106.5M | $193.3M | ||
| Q2 25 | $271.3M | $125.2M | ||
| Q1 25 | $-65.1M | $120.7M | ||
| Q4 24 | $276.1M | $150.4M | ||
| Q3 24 | $31.4M | $231.1M | ||
| Q2 24 | $163.9M | $229.5M | ||
| Q1 24 | $-207.4M | $160.6M |
自由现金流率BCUI
| Q4 25 | 6.3% | 31.9% | ||
| Q3 25 | 7.8% | 26.3% | ||
| Q2 25 | 18.7% | 16.5% | ||
| Q1 25 | -5.3% | 18.2% | ||
| Q4 24 | 23.9% | 25.1% | ||
| Q3 24 | 2.5% | 42.0% | ||
| Q2 24 | 11.4% | 45.2% | ||
| Q1 24 | -15.2% | 32.6% |
资本支出强度BCUI
| Q4 25 | 3.7% | 0.4% | ||
| Q3 25 | 2.5% | 0.7% | ||
| Q2 25 | 3.1% | 0.7% | ||
| Q1 25 | 3.1% | 0.4% | ||
| Q4 24 | 2.6% | 0.3% | ||
| Q3 24 | 2.8% | 0.5% | ||
| Q2 24 | 3.3% | 0.4% | ||
| Q1 24 | 4.0% | 0.7% |
现金转化率BCUI
| Q4 25 | 7.11× | 1.13× | ||
| Q3 25 | — | 0.95× | ||
| Q2 25 | 5.33× | 0.49× | ||
| Q1 25 | -1.36× | 0.68× | ||
| Q4 24 | — | 1.11× | ||
| Q3 24 | 1.51× | 1.83× | ||
| Q2 24 | 2.11× | 2.23× | ||
| Q1 24 | -2.26× | 2.15× |
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% |
UI
| Enterprise Technology | $729.0M | 89% |
| Service Provider Technology | $85.9M | 11% |
