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百富门（BF.B）与利氏兄弟拍卖行（RBA）财务数据对比。点击上方公司名可切换其他公司
利氏兄弟拍卖行的季度营收约是百富门的1.2倍（$1.2B vs $1.0B），百富门净利率更高（21.6% vs 9.1%，领先12.5%），利氏兄弟拍卖行同比增速更快（5.4% vs -5.4%），利氏兄弟拍卖行自由现金流更多（$186.5M vs $107.0M），过去两年利氏兄弟拍卖行的营收复合增速更高（6.3% vs -1.6%）
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。
利氏兄弟拍卖行（股票代码RBA）是全球知名的工业资产拍卖服务商，注册地位于加拿大，属公开上市企业，总部设在美国伊利诺伊州韦斯特切斯特，普通股同时在多伦多证券交易所与纽约证券交易所挂牌交易。
BF.B vs RBA — 直观对比
营收规模更大
RBA
是对方的1.2倍
$1.0B
营收增速更快
RBA
高出10.8%
-5.4%
净利率更高
BF.B
高出12.5%
9.1%
自由现金流更多
RBA
多$79.5M
$107.0M
两年增速更快
RBA
近两年复合增速
-1.6%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $1.2B |
| 净利润 | $224.0M | $109.7M |
| 毛利率 | 59.4% | — |
| 营业利润率 | 29.4% | 14.7% |
| 净利率 | 21.6% | 9.1% |
| 营收同比 | -5.4% | 5.4% |
| 净利润同比 | -13.2% | -7.4% |
| 每股收益（稀释后） | $0.47 | $0.53 |
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.BRBA
| Q4 25 | $1.0B | $1.2B | ||
| Q3 25 | $924.0M | $1.1B | ||
| Q2 25 | $894.0M | $1.2B | ||
| Q1 25 | $1.0B | $1.1B | ||
| Q4 24 | $1.1B | $1.1B | ||
| Q3 24 | $951.0M | $981.8M | ||
| Q2 24 | $964.0M | $1.1B | ||
| Q1 24 | $1.1B | $1.1B |
净利润BF.BRBA
| Q4 25 | $224.0M | $109.7M | ||
| Q3 25 | $170.0M | $95.5M | ||
| Q2 25 | $146.0M | $109.8M | ||
| Q1 25 | $270.0M | $113.4M | ||
| Q4 24 | $258.0M | $118.5M | ||
| Q3 24 | $195.0M | $76.1M | ||
| Q2 24 | $266.0M | $111.1M | ||
| Q1 24 | $285.0M | $107.4M |
毛利率BF.BRBA
| Q4 25 | 59.4% | — | ||
| Q3 25 | 59.7% | — | ||
| Q2 25 | 57.4% | — | ||
| Q1 25 | 59.8% | — | ||
| Q4 24 | 59.0% | — | ||
| Q3 24 | 59.4% | — | ||
| Q2 24 | 59.0% | — | ||
| Q1 24 | 59.4% | — |
营业利润率BF.BRBA
| Q4 25 | 29.4% | 14.7% | ||
| Q3 25 | 28.1% | 14.5% | ||
| Q2 25 | 22.9% | 15.9% | ||
| Q1 25 | 27.1% | 17.1% | ||
| Q4 24 | 31.1% | 18.1% | ||
| Q3 24 | 29.5% | 15.6% | ||
| Q2 24 | 38.9% | 18.4% | ||
| Q1 24 | 34.9% | 18.7% |
净利率BF.BRBA
| Q4 25 | 21.6% | 9.1% | ||
| Q3 25 | 18.4% | 8.7% | ||
| Q2 25 | 16.3% | 9.3% | ||
| Q1 25 | 26.1% | 10.2% | ||
| Q4 24 | 23.6% | 10.4% | ||
| Q3 24 | 20.5% | 7.8% | ||
| Q2 24 | 27.6% | 10.1% | ||
| Q1 24 | 26.7% | 10.1% |
每股收益（稀释后）BF.BRBA
| Q4 25 | $0.47 | $0.53 | ||
| Q3 25 | $0.36 | $0.43 | ||
| Q2 25 | $0.31 | $0.53 | ||
| Q1 25 | $0.57 | $0.55 | ||
| Q4 24 | $0.55 | $0.58 | ||
| Q3 24 | $0.41 | $0.36 | ||
| Q2 24 | $0.56 | $0.54 | ||
| Q1 24 | $0.60 | $0.53 |
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 | $531.5M |
| 总债务越低越好 | $2.4B | $2.3B |
| 股东权益账面价值 | $4.1B | $5.6B |
| 总资产 | $8.2B | $12.1B |
| 负债/权益比越低杠杆越低 | 0.59× | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资BF.BRBA
| Q4 25 | $319.0M | $531.5M | ||
| Q3 25 | $471.0M | $674.7M | ||
| Q2 25 | $444.0M | $710.2M | ||
| Q1 25 | $599.0M | $578.1M | ||
| Q4 24 | $416.0M | $533.9M | ||
| Q3 24 | $416.0M | $650.7M | ||
| Q2 24 | $446.0M | $599.5M | ||
| Q1 24 | $589.0M | $462.8M |
总债务BF.BRBA
| Q4 25 | $2.4B | $2.3B | ||
| Q3 25 | $2.4B | $2.6B | ||
| Q2 25 | $2.4B | $2.6B | ||
| Q1 25 | $2.7B | $2.6B | ||
| Q4 24 | $2.7B | $2.6B | ||
| Q3 24 | $2.7B | $2.7B | ||
| Q2 24 | $2.7B | $2.8B | ||
| Q1 24 | $2.7B | $2.9B |
股东权益BF.BRBA
| Q4 25 | $4.1B | $5.6B | ||
| Q3 25 | $4.0B | $5.5B | ||
| Q2 25 | $4.0B | $5.5B | ||
| Q1 25 | $3.8B | $5.3B | ||
| Q4 24 | $3.7B | $5.2B | ||
| Q3 24 | $3.5B | $5.2B | ||
| Q2 24 | $3.5B | $5.2B | ||
| Q1 24 | $3.2B | $5.1B |
总资产BF.BRBA
| Q4 25 | $8.2B | $12.1B | ||
| Q3 25 | $8.2B | $12.2B | ||
| Q2 25 | $8.1B | $12.2B | ||
| Q1 25 | $8.1B | $11.9B | ||
| Q4 24 | $8.3B | $11.8B | ||
| Q3 24 | $8.2B | $11.9B | ||
| Q2 24 | $8.2B | $12.1B | ||
| Q1 24 | $8.2B | $12.0B |
负债/权益比BF.BRBA
| Q4 25 | 0.59× | 0.42× | ||
| Q3 25 | 0.61× | 0.47× | ||
| Q2 25 | 0.61× | 0.47× | ||
| Q1 25 | 0.70× | 0.50× | ||
| Q4 24 | 0.73× | 0.50× | ||
| Q3 24 | 0.77× | 0.52× | ||
| Q2 24 | 0.76× | 0.55× | ||
| Q1 24 | 0.83× | 0.58× |
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 | $255.2M |
| 自由现金流经营现金流 - 资本支出 | $107.0M | $186.5M |
| 自由现金流率自由现金流/营收 | 10.3% | 15.5% |
| 资本支出强度资本支出/营收 | 2.4% | 5.7% |
| 现金转化率经营现金流/净利润 | 0.59× | 2.33× |
| 过去12个月自由现金流最近4个季度 | $610.0M | $719.2M |
8季度趋势，按日历期对齐
经营现金流BF.BRBA
| Q4 25 | $132.0M | $255.2M | ||
| Q3 25 | $160.0M | $239.7M | ||
| Q2 25 | $152.0M | $326.5M | ||
| Q1 25 | $317.0M | $156.8M | ||
| Q4 24 | $112.0M | $184.5M | ||
| Q3 24 | $17.0M | $285.4M | ||
| Q2 24 | $285.0M | $337.3M | ||
| Q1 24 | $265.0M | $124.8M |
自由现金流BF.BRBA
| Q4 25 | $107.0M | $186.5M | ||
| Q3 25 | $129.0M | $188.5M | ||
| Q2 25 | $102.0M | $241.7M | ||
| Q1 25 | $272.0M | $102.5M | ||
| Q4 24 | $81.0M | $127.9M | ||
| Q3 24 | $-24.0M | $248.5M | ||
| Q2 24 | $205.0M | $308.6M | ||
| Q1 24 | $196.0M | $79.6M |
自由现金流率BF.BRBA
| Q4 25 | 10.3% | 15.5% | ||
| Q3 25 | 14.0% | 17.3% | ||
| Q2 25 | 11.4% | 20.4% | ||
| Q1 25 | 26.3% | 9.2% | ||
| Q4 24 | 7.4% | 11.2% | ||
| Q3 24 | -2.5% | 25.3% | ||
| Q2 24 | 21.3% | 28.2% | ||
| Q1 24 | 18.3% | 7.5% |
资本支出强度BF.BRBA
| Q4 25 | 2.4% | 5.7% | ||
| Q3 25 | 3.4% | 4.7% | ||
| Q2 25 | 5.6% | 7.2% | ||
| Q1 25 | 4.3% | 4.9% | ||
| Q4 24 | 2.8% | 5.0% | ||
| Q3 24 | 4.3% | 3.8% | ||
| Q2 24 | 8.3% | 2.6% | ||
| Q1 24 | 6.5% | 4.2% |
现金转化率BF.BRBA
| Q4 25 | 0.59× | 2.33× | ||
| Q3 25 | 0.94× | 2.51× | ||
| Q2 25 | 1.04× | 2.97× | ||
| Q1 25 | 1.17× | 1.38× | ||
| Q4 24 | 0.43× | 1.56× | ||
| Q3 24 | 0.09× | 3.75× | ||
| Q2 24 | 1.07× | 3.04× | ||
| Q1 24 | 0.93× | 1.16× |
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% |
RBA
| Buyer Revenue | $577.2M | 48% |
| Seller Revenue | $255.2M | 21% |
| CA | $199.0M | 17% |
| Other | $124.7M | 10% |
| AU | $47.3M | 4% |
