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BRUNSWICK CORP（BC）与Worthington Steel, Inc.（WS）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Worthington Steel, Inc.的1.5倍（$1.3B vs $871.9M），Worthington Steel, Inc.净利率更高（2.2% vs 1.4%，领先0.8%），Worthington Steel, Inc.同比增速更快（18.0% vs 15.5%），BRUNSWICK CORP自由现金流更多（$83.6M vs $74.6M），过去两年Worthington Steel, Inc.的营收复合增速更高（3.9% 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。
沃辛顿钢铁是总部位于美国俄亥俄州哥伦布市的工业制造企业，下设消费品和建筑建材两大业务板块，主营各类压力容器的设计与生产，覆盖丙烷、氧气、氦气储罐，制冷剂及工业气瓶，露营与民用气瓶，以及用于存储、处理、加热、扩容和流量控制的供水系统罐体等产品。
BC vs WS — 直观对比
营收规模更大
BC
是对方的1.5倍
$871.9M
营收增速更快
WS
高出2.5%
15.5%
净利率更高
WS
高出0.8%
1.4%
自由现金流更多
BC
多$9.0M
$74.6M
两年增速更快
WS
近两年复合增速
-1.1%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $871.9M |
| 净利润 | $18.7M | $18.8M |
| 毛利率 | 23.1% | 10.7% |
| 营业利润率 | 3.1% | 2.5% |
| 净利率 | 1.4% | 2.2% |
| 营收同比 | 15.5% | 18.0% |
| 净利润同比 | 122.7% | 46.9% |
| 每股收益（稀释后） | $0.32 | $0.37 |
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BCWS
| Q4 25 | $1.3B | $871.9M | ||
| Q3 25 | $1.4B | $872.9M | ||
| Q2 25 | $1.4B | $832.9M | ||
| Q1 25 | $1.2B | $687.4M | ||
| Q4 24 | $1.2B | $739.0M | ||
| Q3 24 | $1.3B | $834.0M | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.4B | $805.8M |
净利润BCWS
| Q4 25 | $18.7M | $18.8M | ||
| Q3 25 | $-235.5M | $36.8M | ||
| Q2 25 | $59.3M | $55.7M | ||
| Q1 25 | $20.2M | $13.8M | ||
| Q4 24 | $-82.5M | $12.8M | ||
| Q3 24 | $44.6M | $28.4M | ||
| Q2 24 | $100.0M | — | ||
| Q1 24 | $68.0M | $49.0M |
毛利率BCWS
| Q4 25 | 23.1% | 10.7% | ||
| Q3 25 | 25.8% | 13.2% | ||
| Q2 25 | 25.5% | 15.2% | ||
| Q1 25 | 24.9% | 11.8% | ||
| Q4 24 | 21.9% | 10.8% | ||
| Q3 24 | 26.2% | 12.0% | ||
| Q2 24 | 27.1% | — | ||
| Q1 24 | 27.4% | 14.9% |
营业利润率BCWS
| Q4 25 | 3.1% | 2.5% | ||
| Q3 25 | -17.8% | 5.5% | ||
| Q2 25 | 7.1% | 8.0% | ||
| Q1 25 | 4.6% | 2.7% | ||
| Q4 24 | -4.8% | 2.6% | ||
| Q3 24 | 7.7% | 5.2% | ||
| Q2 24 | 11.0% | — | ||
| Q1 24 | 8.1% | 8.2% |
净利率BCWS
| Q4 25 | 1.4% | 2.2% | ||
| Q3 25 | -17.3% | 4.2% | ||
| Q2 25 | 4.1% | 6.7% | ||
| Q1 25 | 1.7% | 2.0% | ||
| Q4 24 | -7.1% | 1.7% | ||
| Q3 24 | 3.5% | 3.4% | ||
| Q2 24 | 6.9% | — | ||
| Q1 24 | 5.0% | 6.1% |
每股收益（稀释后）BCWS
| Q4 25 | $0.32 | $0.37 | ||
| Q3 25 | $-3.59 | $0.72 | ||
| Q2 25 | $0.89 | $1.11 | ||
| Q1 25 | $0.30 | $0.27 | ||
| Q4 24 | $-1.21 | $0.25 | ||
| Q3 24 | $0.67 | $0.56 | ||
| Q2 24 | $1.48 | — | ||
| Q1 24 | $0.99 | $0.98 |
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 | $89.8M |
| 总债务越低越好 | $2.1B | $72.1M |
| 股东权益账面价值 | $1.6B | $1.1B |
| 总资产 | $5.3B | $2.1B |
| 负债/权益比越低杠杆越低 | 1.30× | 0.06× |
8季度趋势，按日历期对齐
现金及短期投资BCWS
| Q4 25 | $256.8M | $89.8M | ||
| Q3 25 | $297.7M | $78.3M | ||
| Q2 25 | $315.7M | $38.0M | ||
| Q1 25 | $286.7M | $63.3M | ||
| Q4 24 | $269.0M | $52.0M | ||
| Q3 24 | $284.1M | $36.0M | ||
| Q2 24 | $494.5M | — | ||
| Q1 24 | $548.4M | $60.8M |
总债务BCWS
| Q4 25 | $2.1B | $72.1M | ||
| Q3 25 | — | $73.4M | ||
| Q2 25 | — | $151.5M | ||
| Q1 25 | — | — | ||
| Q4 24 | $2.4B | $115.0M | ||
| Q3 24 | — | $122.2M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $147.2M |
股东权益BCWS
| Q4 25 | $1.6B | $1.1B | ||
| Q3 25 | $1.6B | $1.1B | ||
| Q2 25 | $1.9B | $1.1B | ||
| Q1 25 | $1.9B | $1.0B | ||
| Q4 24 | $1.9B | $1.0B | ||
| Q3 24 | $2.0B | $1.0B | ||
| Q2 24 | $2.0B | — | ||
| Q1 24 | $2.0B | $937.6M |
总资产BCWS
| Q4 25 | $5.3B | $2.1B | ||
| Q3 25 | $5.4B | $2.2B | ||
| Q2 25 | $5.8B | $2.0B | ||
| Q1 25 | $5.9B | $1.8B | ||
| Q4 24 | $5.7B | $1.7B | ||
| Q3 24 | $6.0B | $1.8B | ||
| Q2 24 | $6.4B | — | ||
| Q1 24 | $6.5B | $1.8B |
负债/权益比BCWS
| Q4 25 | 1.30× | 0.06× | ||
| Q3 25 | — | 0.07× | ||
| Q2 25 | — | 0.14× | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.25× | 0.11× | ||
| Q3 24 | — | 0.12× | ||
| Q2 24 | — | — | ||
| 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 | $132.9M | $99.3M |
| 自由现金流经营现金流 - 资本支出 | $83.6M | $74.6M |
| 自由现金流率自由现金流/营收 | 6.3% | 8.6% |
| 资本支出强度资本支出/营收 | 3.7% | 2.8% |
| 现金转化率经营现金流/净利润 | 7.11× | 5.28× |
| 过去12个月自由现金流最近4个季度 | $396.3M | $72.5M |
8季度趋势，按日历期对齐
经营现金流BCWS
| Q4 25 | $132.9M | $99.3M | ||
| Q3 25 | $140.4M | $-6.3M | ||
| Q2 25 | $316.2M | $53.9M | ||
| Q1 25 | $-27.4M | $53.8M | ||
| Q4 24 | $306.4M | $68.0M | ||
| Q3 24 | $67.4M | $54.6M | ||
| Q2 24 | $211.0M | — | ||
| Q1 24 | $-153.4M | $44.7M |
自由现金流BCWS
| Q4 25 | $83.6M | $74.6M | ||
| Q3 25 | $106.5M | $-35.7M | ||
| Q2 25 | $271.3M | $8.4M | ||
| Q1 25 | $-65.1M | $25.2M | ||
| Q4 24 | $276.1M | $33.2M | ||
| Q3 24 | $31.4M | $33.1M | ||
| Q2 24 | $163.9M | — | ||
| Q1 24 | $-207.4M | $22.3M |
自由现金流率BCWS
| Q4 25 | 6.3% | 8.6% | ||
| Q3 25 | 7.8% | -4.1% | ||
| Q2 25 | 18.7% | 1.0% | ||
| Q1 25 | -5.3% | 3.7% | ||
| Q4 24 | 23.9% | 4.5% | ||
| Q3 24 | 2.5% | 4.0% | ||
| Q2 24 | 11.4% | — | ||
| Q1 24 | -15.2% | 2.8% |
资本支出强度BCWS
| Q4 25 | 3.7% | 2.8% | ||
| Q3 25 | 2.5% | 3.4% | ||
| Q2 25 | 3.1% | 5.5% | ||
| Q1 25 | 3.1% | 4.2% | ||
| Q4 24 | 2.6% | 4.7% | ||
| Q3 24 | 2.8% | 2.6% | ||
| Q2 24 | 3.3% | — | ||
| Q1 24 | 4.0% | 2.8% |
现金转化率BCWS
| Q4 25 | 7.11× | 5.28× | ||
| Q3 25 | — | -0.17× | ||
| Q2 25 | 5.33× | 0.97× | ||
| Q1 25 | -1.36× | 3.90× | ||
| Q4 24 | — | 5.31× | ||
| Q3 24 | 1.51× | 1.92× | ||
| Q2 24 | 2.11× | — | ||
| Q1 24 | -2.26× | 0.91× |
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% |
WS
| Direct | $844.1M | 97% |
| Toll | $27.8M | 3% |
