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BRIGHT HORIZONS FAMILY SOLUTIONS INC.（BFAM）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
BRIGHT HORIZONS FAMILY SOLUTIONS INC.的季度营收约是BOSTON BEER CO INC的1.6倍（$733.7M vs $461.6M），BRIGHT HORIZONS FAMILY SOLUTIONS INC.同比增速更快（8.8% vs -4.1%），过去两年BRIGHT HORIZONS FAMILY SOLUTIONS INC.的营收复合增速更高（8.5% vs -10.7%）
Bright Horizons Family Solutions总部位于美国马萨诸塞州牛顿市，是美国规模最大的雇主赞助育儿服务运营商，除核心育儿服务外，还提供备用育儿、老人照护、学费项目管理、教育咨询、学生贷款偿还方案等多元服务，覆盖企业员工福利及教育支持领域。
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。
BFAM vs SAM — 直观对比
营收规模更大
BFAM
是对方的1.6倍
$461.6M
营收增速更快
BFAM
高出12.9%
-4.1%
两年增速更快
BFAM
近两年复合增速
-10.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $733.7M | $461.6M |
| 净利润 | — | — |
| 毛利率 | 19.3% | 46.4% |
| 营业利润率 | 6.2% | 12.4% |
| 净利率 | — | — |
| 营收同比 | 8.8% | -4.1% |
| 净利润同比 | — | — |
| 每股收益（稀释后） | $0.38 | $2.16 |
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BFAMSAM
| Q1 26 | — | $461.6M | ||
| Q4 25 | $733.7M | $385.7M | ||
| Q3 25 | $802.8M | $537.5M | ||
| Q2 25 | $731.6M | $587.9M | ||
| Q1 25 | $665.5M | $453.9M | ||
| Q4 24 | $674.1M | $402.3M | ||
| Q3 24 | $719.1M | $605.5M | ||
| Q2 24 | $670.1M | $579.1M |
净利润BFAMSAM
| Q1 26 | — | — | ||
| Q4 25 | — | $-22.5M | ||
| Q3 25 | $78.6M | $46.2M | ||
| Q2 25 | $54.8M | $60.4M | ||
| Q1 25 | $38.0M | $24.4M | ||
| Q4 24 | — | $-38.8M | ||
| Q3 24 | $54.9M | $33.5M | ||
| Q2 24 | $39.2M | $52.3M |
毛利率BFAMSAM
| Q1 26 | — | 46.4% | ||
| Q4 25 | 19.3% | 43.5% | ||
| Q3 25 | 27.0% | 50.8% | ||
| Q2 25 | 25.0% | 49.8% | ||
| Q1 25 | 23.4% | 48.3% | ||
| Q4 24 | 20.8% | 39.9% | ||
| Q3 24 | 25.2% | 46.3% | ||
| Q2 24 | 24.2% | 46.0% |
营业利润率BFAMSAM
| Q1 26 | — | 12.4% | ||
| Q4 25 | 6.2% | -8.6% | ||
| Q3 25 | 15.1% | 11.5% | ||
| Q2 25 | 11.8% | 14.0% | ||
| Q1 25 | 9.4% | 7.4% | ||
| Q4 24 | 7.2% | -13.9% | ||
| Q3 24 | 12.4% | 7.6% | ||
| Q2 24 | 10.3% | 12.2% |
净利率BFAMSAM
| Q1 26 | — | — | ||
| Q4 25 | — | -5.8% | ||
| Q3 25 | 9.8% | 8.6% | ||
| Q2 25 | 7.5% | 10.3% | ||
| Q1 25 | 5.7% | 5.4% | ||
| Q4 24 | — | -9.6% | ||
| Q3 24 | 7.6% | 5.5% | ||
| Q2 24 | 5.8% | 9.0% |
每股收益（稀释后）BFAMSAM
| Q1 26 | — | $2.16 | ||
| Q4 25 | $0.38 | $-1.97 | ||
| Q3 25 | $1.37 | $4.25 | ||
| Q2 25 | $0.95 | $5.45 | ||
| Q1 25 | $0.66 | $2.16 | ||
| Q4 24 | $0.50 | $-3.23 | ||
| Q3 24 | $0.94 | $2.86 | ||
| Q2 24 | $0.67 | $4.39 |
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 | $140.1M | $164.1M |
| 总债务越低越好 | $747.6M | — |
| 股东权益账面价值 | $1.3B | $682.6M |
| 总资产 | $3.9B | $1.2B |
| 负债/权益比越低杠杆越低 | 0.56× | — |
8季度趋势，按日历期对齐
现金及短期投资BFAMSAM
| Q1 26 | — | $164.1M | ||
| Q4 25 | $140.1M | $223.4M | ||
| Q3 25 | $116.6M | $250.5M | ||
| Q2 25 | $179.2M | $212.4M | ||
| Q1 25 | $112.0M | $152.5M | ||
| Q4 24 | $110.3M | $211.8M | ||
| Q3 24 | $109.9M | $255.6M | ||
| Q2 24 | $140.2M | $219.3M |
总债务BFAMSAM
| Q1 26 | — | — | ||
| Q4 25 | $747.6M | — | ||
| Q3 25 | $747.5M | — | ||
| Q2 25 | $797.0M | — | ||
| Q1 25 | $872.7M | — | ||
| Q4 24 | $918.4M | — | ||
| Q3 24 | $925.7M | — | ||
| Q2 24 | $931.9M | — |
股东权益BFAMSAM
| Q1 26 | — | $682.6M | ||
| Q4 25 | $1.3B | $846.3M | ||
| Q3 25 | $1.4B | $911.0M | ||
| Q2 25 | $1.4B | $912.3M | ||
| Q1 25 | $1.3B | $897.0M | ||
| Q4 24 | $1.3B | $916.2M | ||
| Q3 24 | $1.4B | $1.0B | ||
| Q2 24 | $1.3B | $1.0B |
总资产BFAMSAM
| Q1 26 | — | $1.2B | ||
| Q4 25 | $3.9B | $1.2B | ||
| Q3 25 | $3.9B | $1.2B | ||
| Q2 25 | $3.9B | $1.3B | ||
| Q1 25 | $3.8B | $1.2B | ||
| Q4 24 | $3.9B | $1.3B | ||
| Q3 24 | $3.9B | $1.4B | ||
| Q2 24 | $3.8B | $1.4B |
负债/权益比BFAMSAM
| Q1 26 | — | — | ||
| Q4 25 | 0.56× | — | ||
| Q3 25 | 0.52× | — | ||
| Q2 25 | 0.57× | — | ||
| Q1 25 | 0.66× | — | ||
| Q4 24 | 0.72× | — | ||
| Q3 24 | 0.66× | — | ||
| Q2 24 | 0.73× | — |
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 | $350.7M | — |
| 自由现金流经营现金流 - 资本支出 | $258.5M | — |
| 自由现金流率自由现金流/营收 | 35.2% | — |
| 资本支出强度资本支出/营收 | 12.6% | — |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $402.4M | — |
8季度趋势，按日历期对齐
经营现金流BFAMSAM
| Q1 26 | — | — | ||
| Q4 25 | $350.7M | $39.9M | ||
| Q3 25 | $-17.6M | $101.8M | ||
| Q2 25 | $134.2M | $126.5M | ||
| Q1 25 | $86.2M | $1.9M | ||
| Q4 24 | $337.5M | $41.9M | ||
| Q3 24 | $-8.9M | $115.9M | ||
| Q2 24 | $109.4M | $96.0M |
自由现金流BFAMSAM
| Q1 26 | — | — | ||
| Q4 25 | $258.5M | $22.1M | ||
| Q3 25 | $-42.4M | $89.2M | ||
| Q2 25 | $115.4M | $112.2M | ||
| Q1 25 | $70.9M | $-8.0M | ||
| Q4 24 | $240.2M | $18.4M | ||
| Q3 24 | $-32.2M | $99.2M | ||
| Q2 24 | $86.8M | $75.6M |
自由现金流率BFAMSAM
| Q1 26 | — | — | ||
| Q4 25 | 35.2% | 5.7% | ||
| Q3 25 | -5.3% | 16.6% | ||
| Q2 25 | 15.8% | 19.1% | ||
| Q1 25 | 10.7% | -1.8% | ||
| Q4 24 | 35.6% | 4.6% | ||
| Q3 24 | -4.5% | 16.4% | ||
| Q2 24 | 13.0% | 13.1% |
资本支出强度BFAMSAM
| Q1 26 | — | — | ||
| Q4 25 | 12.6% | 4.6% | ||
| Q3 25 | 3.1% | 2.3% | ||
| Q2 25 | 2.6% | 2.4% | ||
| Q1 25 | 2.3% | 2.2% | ||
| Q4 24 | 14.4% | 5.8% | ||
| Q3 24 | 3.2% | 2.8% | ||
| Q2 24 | 3.4% | 3.5% |
现金转化率BFAMSAM
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | -0.22× | 2.21× | ||
| Q2 25 | 2.45× | 2.09× | ||
| Q1 25 | 2.26× | 0.08× | ||
| Q4 24 | — | — | ||
| Q3 24 | -0.16× | 3.46× | ||
| Q2 24 | 2.79× | 1.83× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
