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百富门（BF.B）与Ryman Hospitality Properties, Inc.（RHP）财务数据对比。点击上方公司名可切换其他公司
百富门的季度营收约是Ryman Hospitality Properties, Inc.的1.4倍（$1.0B vs $737.8M），百富门净利率更高（21.6% vs 10.1%，领先11.5%），Ryman Hospitality Properties, Inc.同比增速更快（13.9% vs -5.4%），百富门自由现金流更多（$107.0M vs $58.5M），过去两年Ryman Hospitality Properties, Inc.的营收复合增速更高（18.2% 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。
莱曼酒店地产是一家主营酒店、度假村、娱乐及媒体业务的企业，得名于旗下位于田纳西州纳什维尔的国家历史地标莱曼礼堂。公司历史可追溯至曾为俄克拉荷马出版公司子公司时期，1983年收购WSM公司后奠定现代业务基础，同时将知名演出IP大奥普里等核心资产纳入麾下。
BF.B vs RHP — 直观对比
营收规模更大
BF.B
是对方的1.4倍
$737.8M
营收增速更快
RHP
高出19.3%
-5.4%
净利率更高
BF.B
高出11.5%
10.1%
自由现金流更多
BF.B
多$48.5M
$58.5M
两年增速更快
RHP
近两年复合增速
-1.6%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $737.8M |
| 净利润 | $224.0M | $74.5M |
| 毛利率 | 59.4% | 41.4% |
| 营业利润率 | 29.4% | 19.4% |
| 净利率 | 21.6% | 10.1% |
| 营收同比 | -5.4% | 13.9% |
| 净利润同比 | -13.2% | 3.0% |
| 每股收益（稀释后） | $0.47 | $1.12 |
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.BRHP
| Q4 25 | $1.0B | $737.8M | ||
| Q3 25 | $924.0M | $592.5M | ||
| Q2 25 | $894.0M | $659.5M | ||
| Q1 25 | $1.0B | $587.3M | ||
| Q4 24 | $1.1B | $647.6M | ||
| Q3 24 | $951.0M | $550.0M | ||
| Q2 24 | $964.0M | $613.3M | ||
| Q1 24 | $1.1B | $528.3M |
净利润BF.BRHP
| Q4 25 | $224.0M | $74.5M | ||
| Q3 25 | $170.0M | $34.9M | ||
| Q2 25 | $146.0M | $71.8M | ||
| Q1 25 | $270.0M | $63.0M | ||
| Q4 24 | $258.0M | $72.3M | ||
| Q3 24 | $195.0M | $59.0M | ||
| Q2 24 | $266.0M | $100.8M | ||
| Q1 24 | $285.0M | $42.8M |
毛利率BF.BRHP
| Q4 25 | 59.4% | 41.4% | ||
| Q3 25 | 59.7% | 40.9% | ||
| Q2 25 | 57.4% | 49.7% | ||
| Q1 25 | 59.8% | 44.4% | ||
| Q4 24 | 59.0% | 40.4% | ||
| Q3 24 | 59.4% | 43.1% | ||
| Q2 24 | 59.0% | 48.4% | ||
| Q1 24 | 59.4% | 41.5% |
营业利润率BF.BRHP
| Q4 25 | 29.4% | 19.4% | ||
| Q3 25 | 28.1% | 15.0% | ||
| Q2 25 | 22.9% | 21.1% | ||
| Q1 25 | 27.1% | 19.8% | ||
| Q4 24 | 31.1% | 18.6% | ||
| Q3 24 | 29.5% | 19.3% | ||
| Q2 24 | 38.9% | 27.4% | ||
| Q1 24 | 34.9% | 18.2% |
净利率BF.BRHP
| Q4 25 | 21.6% | 10.1% | ||
| Q3 25 | 18.4% | 5.9% | ||
| Q2 25 | 16.3% | 10.9% | ||
| Q1 25 | 26.1% | 10.7% | ||
| Q4 24 | 23.6% | 11.2% | ||
| Q3 24 | 20.5% | 10.7% | ||
| Q2 24 | 27.6% | 16.4% | ||
| Q1 24 | 26.7% | 8.1% |
每股收益（稀释后）BF.BRHP
| Q4 25 | $0.47 | $1.12 | ||
| Q3 25 | $0.36 | $0.53 | ||
| Q2 25 | $0.31 | $1.12 | ||
| Q1 25 | $0.57 | $1.00 | ||
| Q4 24 | $0.55 | $1.12 | ||
| Q3 24 | $0.41 | $0.94 | ||
| Q2 24 | $0.56 | $1.65 | ||
| Q1 24 | $0.60 | $0.67 |
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 | $471.4M |
| 总债务越低越好 | $2.4B | — |
| 股东权益账面价值 | $4.1B | $750.2M |
| 总资产 | $8.2B | $6.2B |
| 负债/权益比越低杠杆越低 | 0.59× | — |
8季度趋势，按日历期对齐
现金及短期投资BF.BRHP
| Q4 25 | $319.0M | $471.4M | ||
| Q3 25 | $471.0M | $483.3M | ||
| Q2 25 | $444.0M | $420.6M | ||
| Q1 25 | $599.0M | $413.9M | ||
| Q4 24 | $416.0M | $477.7M | ||
| Q3 24 | $416.0M | $534.9M | ||
| Q2 24 | $446.0M | $498.4M | ||
| Q1 24 | $589.0M | $465.3M |
总债务BF.BRHP
| Q4 25 | $2.4B | — | ||
| Q3 25 | $2.4B | — | ||
| Q2 25 | $2.4B | — | ||
| Q1 25 | $2.7B | — | ||
| Q4 24 | $2.7B | — | ||
| Q3 24 | $2.7B | — | ||
| Q2 24 | $2.7B | — | ||
| Q1 24 | $2.7B | — |
股东权益BF.BRHP
| Q4 25 | $4.1B | $750.2M | ||
| Q3 25 | $4.0B | $758.5M | ||
| Q2 25 | $4.0B | $800.4M | ||
| Q1 25 | $3.8B | $531.5M | ||
| Q4 24 | $3.7B | $549.0M | ||
| Q3 24 | $3.5B | $551.9M | ||
| Q2 24 | $3.5B | $562.6M | ||
| Q1 24 | $3.2B | $529.9M |
总资产BF.BRHP
| Q4 25 | $8.2B | $6.2B | ||
| Q3 25 | $8.2B | $6.2B | ||
| Q2 25 | $8.1B | $6.1B | ||
| Q1 25 | $8.1B | $5.2B | ||
| Q4 24 | $8.3B | $5.2B | ||
| Q3 24 | $8.2B | $5.2B | ||
| Q2 24 | $8.2B | $5.1B | ||
| Q1 24 | $8.2B | $5.1B |
负债/权益比BF.BRHP
| Q4 25 | 0.59× | — | ||
| Q3 25 | 0.61× | — | ||
| Q2 25 | 0.61× | — | ||
| Q1 25 | 0.70× | — | ||
| 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 | $164.7M |
| 自由现金流经营现金流 - 资本支出 | $107.0M | $58.5M |
| 自由现金流率自由现金流/营收 | 10.3% | 7.9% |
| 资本支出强度资本支出/营收 | 2.4% | 14.4% |
| 现金转化率经营现金流/净利润 | 0.59× | 2.21× |
| 过去12个月自由现金流最近4个季度 | $610.0M | $232.4M |
8季度趋势，按日历期对齐
经营现金流BF.BRHP
| Q4 25 | $132.0M | $164.7M | ||
| Q3 25 | $160.0M | $205.2M | ||
| Q2 25 | $152.0M | $122.5M | ||
| Q1 25 | $317.0M | $98.2M | ||
| Q4 24 | $112.0M | $166.6M | ||
| Q3 24 | $17.0M | $218.1M | ||
| Q2 24 | $285.0M | $184.3M | ||
| Q1 24 | $265.0M | $7.5M |
自由现金流BF.BRHP
| Q4 25 | $107.0M | $58.5M | ||
| Q3 25 | $129.0M | $135.4M | ||
| Q2 25 | $102.0M | $53.0M | ||
| Q1 25 | $272.0M | $-14.5M | ||
| Q4 24 | $81.0M | $76.0M | ||
| Q3 24 | $-24.0M | $85.7M | ||
| Q2 24 | $205.0M | $78.8M | ||
| Q1 24 | $196.0M | $-72.0M |
自由现金流率BF.BRHP
| Q4 25 | 10.3% | 7.9% | ||
| Q3 25 | 14.0% | 22.9% | ||
| Q2 25 | 11.4% | 8.0% | ||
| Q1 25 | 26.3% | -2.5% | ||
| Q4 24 | 7.4% | 11.7% | ||
| Q3 24 | -2.5% | 15.6% | ||
| Q2 24 | 21.3% | 12.9% | ||
| Q1 24 | 18.3% | -13.6% |
资本支出强度BF.BRHP
| Q4 25 | 2.4% | 14.4% | ||
| Q3 25 | 3.4% | 11.8% | ||
| Q2 25 | 5.6% | 10.5% | ||
| Q1 25 | 4.3% | 19.2% | ||
| Q4 24 | 2.8% | 14.0% | ||
| Q3 24 | 4.3% | 24.1% | ||
| Q2 24 | 8.3% | 17.2% | ||
| Q1 24 | 6.5% | 15.0% |
现金转化率BF.BRHP
| Q4 25 | 0.59× | 2.21× | ||
| Q3 25 | 0.94× | 5.88× | ||
| Q2 25 | 1.04× | 1.71× | ||
| Q1 25 | 1.17× | 1.56× | ||
| Q4 24 | 0.43× | 2.30× | ||
| Q3 24 | 0.09× | 3.70× | ||
| Q2 24 | 1.07× | 1.83× | ||
| Q1 24 | 0.93× | 0.17× |
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% |
RHP
| Hotel Other | $157.7M | 21% |
| Gaylord Opryland | $147.4M | 20% |
| Hotel Transient Rooms | $93.6M | 13% |
| Hotel Food And Beverage Outlets | $92.2M | 12% |
| Gaylord Palms | $88.2M | 12% |
| Jw Marriott Hill Country | $53.7M | 7% |
| Entertainment Admissions And Ticketing | $43.1M | 6% |
| Entertainment Food And Beverage | $38.1M | 5% |
| Entertainment Retail And Other | $28.3M | 4% |
| Ac Hotel | $2.4M | 0% |
