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百富门（BF.B）与BOSTON BEER CO INC（SAM）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BOSTON BEER CO INC的2.7倍（$1.0B vs $385.7M）。百富门净利率更高（21.6% vs -5.8%，领先27.5%）。BOSTON BEER CO INC同比增速更快（-4.1% vs -5.4%）。百富门自由现金流更多（$107.0M vs $22.1M）。过去两年百富门的营收复合增速更高（-1.6% vs -4.9%）
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。
波士顿啤酒公司是美国知名酿酒企业，1984年由吉姆·科赫与朗达·卡尔曼联合创立。旗下首款产品以美国开国元勋、独立运动先驱塞缪尔·亚当斯命名，后续陆续推出多个自有品牌，2019年正式完成与角鲨头酿酒厂的合并，是北美精酿啤酒行业的核心参与者之一。
BF.B vs SAM — 直观对比
营收规模更大
BF.B
是对方的2.7倍
$385.7M
营收增速更快
SAM
高出1.3%
-5.4%
净利率更高
BF.B
高出27.5%
-5.8%
自由现金流更多
BF.B
多$84.9M
$22.1M
两年增速更快
BF.B
近两年复合增速
-4.9%
损益表 — Q2 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $385.7M |
| 净利润 | $224.0M | $-22.5M |
| 毛利率 | 59.4% | 43.5% |
| 营业利润率 | 29.4% | -8.6% |
| 净利率 | 21.6% | -5.8% |
| 营收同比 | -5.4% | -4.1% |
| 净利润同比 | -13.2% | 41.9% |
| 每股收益（稀释后） | $0.47 | $-1.97 |
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.BSAM
| Q4 25 | $1.0B | $385.7M | ||
| Q3 25 | $924.0M | $537.5M | ||
| Q2 25 | $894.0M | $587.9M | ||
| Q1 25 | $1.0B | $453.9M | ||
| Q4 24 | $1.1B | $402.3M | ||
| Q3 24 | $951.0M | $605.5M | ||
| Q2 24 | $964.0M | $579.1M | ||
| Q1 24 | $1.1B | $426.1M |
净利润BF.BSAM
| Q4 25 | $224.0M | $-22.5M | ||
| Q3 25 | $170.0M | $46.2M | ||
| Q2 25 | $146.0M | $60.4M | ||
| Q1 25 | $270.0M | $24.4M | ||
| Q4 24 | $258.0M | $-38.8M | ||
| Q3 24 | $195.0M | $33.5M | ||
| Q2 24 | $266.0M | $52.3M | ||
| Q1 24 | $285.0M | $12.6M |
毛利率BF.BSAM
| Q4 25 | 59.4% | 43.5% | ||
| Q3 25 | 59.7% | 50.8% | ||
| Q2 25 | 57.4% | 49.8% | ||
| Q1 25 | 59.8% | 48.3% | ||
| Q4 24 | 59.0% | 39.9% | ||
| Q3 24 | 59.4% | 46.3% | ||
| Q2 24 | 59.0% | 46.0% | ||
| Q1 24 | 59.4% | 43.7% |
营业利润率BF.BSAM
| Q4 25 | 29.4% | -8.6% | ||
| Q3 25 | 28.1% | 11.5% | ||
| Q2 25 | 22.9% | 14.0% | ||
| Q1 25 | 27.1% | 7.4% | ||
| Q4 24 | 31.1% | -13.9% | ||
| Q3 24 | 29.5% | 7.6% | ||
| Q2 24 | 38.9% | 12.2% | ||
| Q1 24 | 34.9% | 3.6% |
净利率BF.BSAM
| Q4 25 | 21.6% | -5.8% | ||
| Q3 25 | 18.4% | 8.6% | ||
| Q2 25 | 16.3% | 10.3% | ||
| Q1 25 | 26.1% | 5.4% | ||
| Q4 24 | 23.6% | -9.6% | ||
| Q3 24 | 20.5% | 5.5% | ||
| Q2 24 | 27.6% | 9.0% | ||
| Q1 24 | 26.7% | 3.0% |
每股收益（稀释后）BF.BSAM
| Q4 25 | $0.47 | $-1.97 | ||
| Q3 25 | $0.36 | $4.25 | ||
| Q2 25 | $0.31 | $5.45 | ||
| Q1 25 | $0.57 | $2.16 | ||
| Q4 24 | $0.55 | $-3.23 | ||
| Q3 24 | $0.41 | $2.86 | ||
| Q2 24 | $0.56 | $4.39 | ||
| Q1 24 | $0.60 | $1.04 |
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 | $223.4M |
| 总债务越低越好 | $2.4B | — |
| 股东权益账面价值 | $4.1B | $846.3M |
| 总资产 | $8.2B | $1.2B |
| 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.BSAM
| Q4 25 | $319.0M | $223.4M | ||
| Q3 25 | $471.0M | $250.5M | ||
| Q2 25 | $444.0M | $212.4M | ||
| Q1 25 | $599.0M | $152.5M | ||
| Q4 24 | $416.0M | $211.8M | ||
| Q3 24 | $416.0M | $255.6M | ||
| Q2 24 | $446.0M | $219.3M | ||
| Q1 24 | $589.0M | $205.4M |
总债务BF.BSAM
| 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.BSAM
| Q4 25 | $4.1B | $846.3M | ||
| Q3 25 | $4.0B | $911.0M | ||
| Q2 25 | $4.0B | $912.3M | ||
| Q1 25 | $3.8B | $897.0M | ||
| Q4 24 | $3.7B | $916.2M | ||
| Q3 24 | $3.5B | $1.0B | ||
| Q2 24 | $3.5B | $1.0B | ||
| Q1 24 | $3.2B | $1.0B |
总资产BF.BSAM
| Q4 25 | $8.2B | $1.2B | ||
| Q3 25 | $8.2B | $1.2B | ||
| Q2 25 | $8.1B | $1.3B | ||
| Q1 25 | $8.1B | $1.2B | ||
| Q4 24 | $8.3B | $1.3B | ||
| Q3 24 | $8.2B | $1.4B | ||
| Q2 24 | $8.2B | $1.4B | ||
| Q1 24 | $8.2B | $1.4B |
负债/权益比BF.BSAM
| 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 | $39.9M |
| 自由现金流经营现金流 - 资本支出 | $107.0M | $22.1M |
| 自由现金流率自由现金流/营收 | 10.3% | 5.7% |
| 资本支出强度资本支出/营收 | 2.4% | 4.6% |
| 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 | $215.6M |
8季度趋势，按日历期对齐
经营现金流BF.BSAM
| Q4 25 | $132.0M | $39.9M | ||
| Q3 25 | $160.0M | $101.8M | ||
| Q2 25 | $152.0M | $126.5M | ||
| Q1 25 | $317.0M | $1.9M | ||
| Q4 24 | $112.0M | $41.9M | ||
| Q3 24 | $17.0M | $115.9M | ||
| Q2 24 | $285.0M | $96.0M | ||
| Q1 24 | $265.0M | $-4.9M |
自由现金流BF.BSAM
| Q4 25 | $107.0M | $22.1M | ||
| Q3 25 | $129.0M | $89.2M | ||
| Q2 25 | $102.0M | $112.2M | ||
| Q1 25 | $272.0M | $-8.0M | ||
| Q4 24 | $81.0M | $18.4M | ||
| Q3 24 | $-24.0M | $99.2M | ||
| Q2 24 | $205.0M | $75.6M | ||
| Q1 24 | $196.0M | $-20.6M |
自由现金流率BF.BSAM
| Q4 25 | 10.3% | 5.7% | ||
| Q3 25 | 14.0% | 16.6% | ||
| Q2 25 | 11.4% | 19.1% | ||
| Q1 25 | 26.3% | -1.8% | ||
| Q4 24 | 7.4% | 4.6% | ||
| Q3 24 | -2.5% | 16.4% | ||
| Q2 24 | 21.3% | 13.1% | ||
| Q1 24 | 18.3% | -4.8% |
资本支出强度BF.BSAM
| Q4 25 | 2.4% | 4.6% | ||
| Q3 25 | 3.4% | 2.3% | ||
| Q2 25 | 5.6% | 2.4% | ||
| Q1 25 | 4.3% | 2.2% | ||
| Q4 24 | 2.8% | 5.8% | ||
| Q3 24 | 4.3% | 2.8% | ||
| Q2 24 | 8.3% | 3.5% | ||
| Q1 24 | 6.5% | 3.7% |
现金转化率BF.BSAM
| Q4 25 | 0.59× | — | ||
| Q3 25 | 0.94× | 2.21× | ||
| Q2 25 | 1.04× | 2.09× | ||
| Q1 25 | 1.17× | 0.08× | ||
| Q4 24 | 0.43× | — | ||
| Q3 24 | 0.09× | 3.46× | ||
| Q2 24 | 1.07× | 1.83× | ||
| Q1 24 | 0.93× | -0.39× |
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% |
SAM
暂无分部数据
