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百富门（BF.B）与CoreWeave, Inc.（CRWV）财务数据对比。点击上方公司名可切换其他公司
CoreWeave, Inc.的季度营收约是百富门的1.5倍（$1.6B vs $1.0B），百富门净利率更高（21.6% vs -28.7%，领先50.4%），百富门自由现金流更多（$107.0M vs $-2.5B）
百富门（Brown-Forman）是美国家族控股上市企业，属全球规模最大的葡萄酒及烈酒经营集团之一，总部位于肯塔基州路易斯维尔。旗下拥有杰克丹尼、伍德福德珍藏、格兰多纳等多个国际知名酒类品牌，曾持有的南方安逸等品牌已于2016年出售。
CoreWeave是总部位于美国新泽西州利文斯顿的人工智能云计算企业，专注为AI开发者及各行业企业客户提供云侧图形处理器（GPU）算力基础设施，同时自主研发芯片管理相关软件。
BF.B vs CRWV — 直观对比
营收规模更大
CRWV
是对方的1.5倍
$1.0B
净利率更高
BF.B
高出50.4%
-28.7%
自由现金流更多
BF.B
多$2.6B
$-2.5B
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $1.6B |
| 净利润 | $224.0M | $-451.7M |
| 毛利率 | 59.4% | 67.6% |
| 营业利润率 | 29.4% | -5.7% |
| 净利率 | 21.6% | -28.7% |
| 营收同比 | -5.4% | — |
| 净利润同比 | -13.2% | — |
| 每股收益（稀释后） | $0.47 | $-0.50 |
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BF.BCRWV
| Q4 25 | $1.0B | $1.6B | ||
| Q3 25 | $924.0M | $1.4B | ||
| Q2 25 | $894.0M | $1.2B | ||
| Q1 25 | $1.0B | $981.6M | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $951.0M | $583.9M | ||
| Q2 24 | $964.0M | $395.4M | ||
| Q1 24 | $1.1B | — |
净利润BF.BCRWV
| Q4 25 | $224.0M | $-451.7M | ||
| Q3 25 | $170.0M | $-110.1M | ||
| Q2 25 | $146.0M | $-290.5M | ||
| Q1 25 | $270.0M | $-314.6M | ||
| Q4 24 | $258.0M | — | ||
| Q3 24 | $195.0M | $-359.8M | ||
| Q2 24 | $266.0M | $-323.0M | ||
| Q1 24 | $285.0M | — |
毛利率BF.BCRWV
| Q4 25 | 59.4% | 67.6% | ||
| Q3 25 | 59.7% | 73.0% | ||
| Q2 25 | 57.4% | 74.2% | ||
| Q1 25 | 59.8% | 73.3% | ||
| Q4 24 | 59.0% | — | ||
| Q3 24 | 59.4% | 75.5% | ||
| Q2 24 | 59.0% | 72.5% | ||
| Q1 24 | 59.4% | — |
营业利润率BF.BCRWV
| Q4 25 | 29.4% | -5.7% | ||
| Q3 25 | 28.1% | 3.8% | ||
| Q2 25 | 22.9% | 1.6% | ||
| Q1 25 | 27.1% | -2.8% | ||
| Q4 24 | 31.1% | — | ||
| Q3 24 | 29.5% | 20.1% | ||
| Q2 24 | 38.9% | 19.7% | ||
| Q1 24 | 34.9% | — |
净利率BF.BCRWV
| Q4 25 | 21.6% | -28.7% | ||
| Q3 25 | 18.4% | -8.1% | ||
| Q2 25 | 16.3% | -24.0% | ||
| Q1 25 | 26.1% | -32.1% | ||
| Q4 24 | 23.6% | — | ||
| Q3 24 | 20.5% | -61.6% | ||
| Q2 24 | 27.6% | -81.7% | ||
| Q1 24 | 26.7% | — |
每股收益（稀释后）BF.BCRWV
| Q4 25 | $0.47 | $-0.50 | ||
| Q3 25 | $0.36 | $-0.22 | ||
| Q2 25 | $0.31 | $-0.60 | ||
| Q1 25 | $0.57 | $-1.49 | ||
| Q4 24 | $0.55 | — | ||
| Q3 24 | $0.41 | $-1.82 | ||
| Q2 24 | $0.56 | $-1.62 | ||
| Q1 24 | $0.60 | — |
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 | $319.0M | $3.2B |
| 总债务越低越好 | $2.4B | $21.4B |
| 股东权益账面价值 | $4.1B | $3.3B |
| 总资产 | $8.2B | $49.3B |
| 负债/权益比越低杠杆越低 | 0.59× | 6.41× |
8季度趋势，按日历期对齐
现金及短期投资BF.BCRWV
| Q4 25 | $319.0M | $3.2B | ||
| Q3 25 | $471.0M | $1.9B | ||
| Q2 25 | $444.0M | $1.2B | ||
| Q1 25 | $599.0M | $1.3B | ||
| Q4 24 | $416.0M | — | ||
| Q3 24 | $416.0M | $1.4B | ||
| Q2 24 | $446.0M | $1.0B | ||
| Q1 24 | $589.0M | — |
总债务BF.BCRWV
| Q4 25 | $2.4B | $21.4B | ||
| Q3 25 | $2.4B | $14.0B | ||
| Q2 25 | $2.4B | $11.1B | ||
| Q1 25 | $2.7B | $8.7B | ||
| Q4 24 | $2.7B | — | ||
| Q3 24 | $2.7B | — | ||
| Q2 24 | $2.7B | — | ||
| Q1 24 | $2.7B | — |
股东权益BF.BCRWV
| Q4 25 | $4.1B | $3.3B | ||
| Q3 25 | $4.0B | $3.9B | ||
| Q2 25 | $4.0B | $2.7B | ||
| Q1 25 | $3.8B | $1.9B | ||
| Q4 24 | $3.7B | — | ||
| Q3 24 | $3.5B | $-344.0M | ||
| Q2 24 | $3.5B | $-1.0B | ||
| Q1 24 | $3.2B | — |
总资产BF.BCRWV
| Q4 25 | $8.2B | $49.3B | ||
| Q3 25 | $8.2B | $32.9B | ||
| Q2 25 | $8.1B | $26.2B | ||
| Q1 25 | $8.1B | $21.9B | ||
| Q4 24 | $8.3B | — | ||
| Q3 24 | $8.2B | — | ||
| Q2 24 | $8.2B | — | ||
| Q1 24 | $8.2B | — |
负债/权益比BF.BCRWV
| Q4 25 | 0.59× | 6.41× | ||
| Q3 25 | 0.61× | 3.62× | ||
| Q2 25 | 0.61× | 4.16× | ||
| Q1 25 | 0.70× | 4.57× | ||
| Q4 24 | 0.73× | — | ||
| Q3 24 | 0.77× | — | ||
| Q2 24 | 0.76× | — | ||
| Q1 24 | 0.83× | — |
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 | $132.0M | $1.6B |
| 自由现金流经营现金流 - 资本支出 | $107.0M | $-2.5B |
| 自由现金流率自由现金流/营收 | 10.3% | -159.1% |
| 资本支出强度资本支出/营收 | 2.4% | 258.3% |
| 现金转化率经营现金流/净利润 | 0.59× | — |
| 过去12个月自由现金流最近4个季度 | $610.0M | $-7.3B |
8季度趋势，按日历期对齐
经营现金流BF.BCRWV
| Q4 25 | $132.0M | $1.6B | ||
| Q3 25 | $160.0M | $1.7B | ||
| Q2 25 | $152.0M | $-251.3M | ||
| Q1 25 | $317.0M | $61.2M | ||
| Q4 24 | $112.0M | — | ||
| Q3 24 | $17.0M | — | ||
| Q2 24 | $285.0M | — | ||
| Q1 24 | $265.0M | — |
自由现金流BF.BCRWV
| Q4 25 | $107.0M | $-2.5B | ||
| Q3 25 | $129.0M | $-699.8M | ||
| Q2 25 | $102.0M | $-2.7B | ||
| Q1 25 | $272.0M | $-1.3B | ||
| Q4 24 | $81.0M | — | ||
| Q3 24 | $-24.0M | — | ||
| Q2 24 | $205.0M | — | ||
| Q1 24 | $196.0M | — |
自由现金流率BF.BCRWV
| Q4 25 | 10.3% | -159.1% | ||
| Q3 25 | 14.0% | -51.3% | ||
| Q2 25 | 11.4% | -223.0% | ||
| Q1 25 | 26.3% | -137.1% | ||
| Q4 24 | 7.4% | — | ||
| Q3 24 | -2.5% | — | ||
| Q2 24 | 21.3% | — | ||
| Q1 24 | 18.3% | — |
资本支出强度BF.BCRWV
| Q4 25 | 2.4% | 258.3% | ||
| Q3 25 | 3.4% | 175.1% | ||
| Q2 25 | 5.6% | 202.3% | ||
| Q1 25 | 4.3% | 143.4% | ||
| Q4 24 | 2.8% | — | ||
| Q3 24 | 4.3% | — | ||
| Q2 24 | 8.3% | — | ||
| Q1 24 | 6.5% | — |
现金转化率BF.BCRWV
| Q4 25 | 0.59× | — | ||
| Q3 25 | 0.94× | — | ||
| Q2 25 | 1.04× | — | ||
| Q1 25 | 1.17× | — | ||
| Q4 24 | 0.43× | — | ||
| Q3 24 | 0.09× | — | ||
| Q2 24 | 1.07× | — | ||
| Q1 24 | 0.93× | — |
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
BF.B
| Whiskey | $771.0M | 74% |
| Ready To Drink | $138.0M | 13% |
| Tequila | $67.0M | 6% |
| Restofportfolio | $52.0M | 5% |
| Nonbrandedandbulk | $8.0M | 1% |
CRWV
| US | $1.4B | 92% |
| Non Us | $129.3M | 8% |
