vs
B&G Foods, Inc.（BGS）与BLACKBAUD INC（BLKB）财务数据对比。点击上方公司名可切换其他公司
B&G Foods, Inc.的季度营收约是BLACKBAUD INC的1.5倍（$439.3M vs $295.3M），BLACKBAUD INC净利率更高（12.4% vs -4.4%，领先16.8%），BLACKBAUD INC同比增速更快（-2.3% vs -4.7%），BLACKBAUD INC自由现金流更多（$55.0M vs $-70.7M），过去两年BLACKBAUD INC的营收复合增速更高（3.0% vs -12.8%）
B&G Foods是总部位于美国新泽西州帕西帕尼的品牌食品控股企业，创立于1996年，成立初衷是收购1889年诞生于曼哈顿的酸黄瓜、调味酱及调味品生产商Bloch & Guggenheimer，如今在北美食品领域拥有众多知名品牌。
Blackbaud是全球知名的云服务提供商，专注为非营利组织、基金会、企业、教育机构、医疗机构、宗教团体及个人公益推动者提供技术支持，旗下产品覆盖筹款、网站管理、客户关系管理、数据分析、财务管理、票务系统、教育管理等多元场景。
BGS vs BLKB — 直观对比
营收规模更大
BGS
是对方的1.5倍
$295.3M
营收增速更快
BLKB
高出2.5%
-4.7%
净利率更高
BLKB
高出16.8%
-4.4%
自由现金流更多
BLKB
多$125.8M
$-70.7M
两年增速更快
BLKB
近两年复合增速
-12.8%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $439.3M | $295.3M |
| 净利润 | $-19.1M | $36.7M |
| 毛利率 | 22.5% | 58.3% |
| 营业利润率 | 2.5% | 20.0% |
| 净利率 | -4.4% | 12.4% |
| 营收同比 | -4.7% | -2.3% |
| 净利润同比 | -356.5% | 110.6% |
| 每股收益（稀释后） | $-0.24 | $0.75 |
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BGSBLKB
| Q4 25 | — | $295.3M | ||
| Q3 25 | $439.3M | $281.1M | ||
| Q2 25 | $424.4M | $282.0M | ||
| Q1 25 | $425.4M | $269.9M | ||
| Q4 24 | $551.6M | $302.1M | ||
| Q3 24 | $461.1M | $286.6M | ||
| Q2 24 | $444.6M | $287.3M | ||
| Q1 24 | $475.2M | $278.6M |
净利润BGSBLKB
| Q4 25 | — | $36.7M | ||
| Q3 25 | $-19.1M | $47.5M | ||
| Q2 25 | $-9.8M | $26.5M | ||
| Q1 25 | $835.0K | $4.3M | ||
| Q4 24 | $-222.4M | $-346.4M | ||
| Q3 24 | $7.5M | $18.3M | ||
| Q2 24 | $3.9M | $21.2M | ||
| Q1 24 | $-40.2M | $7.3M |
毛利率BGSBLKB
| Q4 25 | — | 58.3% | ||
| Q3 25 | 22.5% | 59.6% | ||
| Q2 25 | 20.5% | 59.7% | ||
| Q1 25 | 21.2% | 57.5% | ||
| Q4 24 | 21.5% | 53.8% | ||
| Q3 24 | 22.2% | 54.9% | ||
| Q2 24 | 20.7% | 56.0% | ||
| Q1 24 | 22.9% | 54.1% |
营业利润率BGSBLKB
| Q4 25 | — | 20.0% | ||
| Q3 25 | 2.5% | 19.4% | ||
| Q2 25 | 5.2% | 20.3% | ||
| Q1 25 | 8.4% | 7.3% | ||
| Q4 24 | -46.6% | -121.5% | ||
| Q3 24 | 11.1% | 14.4% | ||
| Q2 24 | 9.9% | 14.4% | ||
| Q1 24 | -3.3% | 4.8% |
净利率BGSBLKB
| Q4 25 | — | 12.4% | ||
| Q3 25 | -4.4% | 16.9% | ||
| Q2 25 | -2.3% | 9.4% | ||
| Q1 25 | 0.2% | 1.6% | ||
| Q4 24 | -40.3% | -114.6% | ||
| Q3 24 | 1.6% | 6.4% | ||
| Q2 24 | 0.9% | 7.4% | ||
| Q1 24 | -8.5% | 2.6% |
每股收益（稀释后）BGSBLKB
| Q4 25 | — | $0.75 | ||
| Q3 25 | $-0.24 | $0.98 | ||
| Q2 25 | $-0.12 | $0.55 | ||
| Q1 25 | $0.01 | $0.09 | ||
| Q4 24 | $-2.81 | $-6.82 | ||
| Q3 24 | $0.09 | $0.35 | ||
| Q2 24 | $0.05 | $0.41 | ||
| Q1 24 | $-0.51 | $0.14 |
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 | $60.9M | $38.9M |
| 总债务越低越好 | $2.0B | $1.1B |
| 股东权益账面价值 | $470.7M | $85.1M |
| 总资产 | $2.9B | $2.4B |
| 负债/权益比越低杠杆越低 | 4.30× | 13.06× |
8季度趋势，按日历期对齐
现金及短期投资BGSBLKB
| Q4 25 | — | $38.9M | ||
| Q3 25 | $60.9M | $38.3M | ||
| Q2 25 | $54.1M | $41.6M | ||
| Q1 25 | $61.2M | $37.2M | ||
| Q4 24 | $50.6M | $67.6M | ||
| Q3 24 | $54.7M | $34.6M | ||
| Q2 24 | $40.3M | $30.4M | ||
| Q1 24 | $42.5M | $26.4M |
总债务BGSBLKB
| Q4 25 | — | $1.1B | ||
| Q3 25 | $2.0B | — | ||
| Q2 25 | $2.0B | — | ||
| Q1 25 | $2.0B | — | ||
| Q4 24 | $2.0B | $1.1B | ||
| Q3 24 | $2.1B | $1.0B | ||
| Q2 24 | $2.0B | $1.0B | ||
| Q1 24 | $2.0B | — |
股东权益BGSBLKB
| Q4 25 | — | $85.1M | ||
| Q3 25 | $470.7M | $108.2M | ||
| Q2 25 | $501.4M | $72.7M | ||
| Q1 25 | $513.1M | $17.5M | ||
| Q4 24 | $524.8M | $126.8M | ||
| Q3 24 | $755.3M | $544.8M | ||
| Q2 24 | $765.0M | $577.5M | ||
| Q1 24 | $781.2M | $534.0M |
总资产BGSBLKB
| Q4 25 | — | $2.4B | ||
| Q3 25 | $2.9B | $2.1B | ||
| Q2 25 | $2.9B | $2.6B | ||
| Q1 25 | $3.0B | $2.1B | ||
| Q4 24 | $3.0B | $2.5B | ||
| Q3 24 | $3.4B | $2.6B | ||
| Q2 24 | $3.4B | $3.0B | ||
| Q1 24 | $3.4B | $2.5B |
负债/权益比BGSBLKB
| Q4 25 | — | 13.06× | ||
| Q3 25 | 4.30× | — | ||
| Q2 25 | 3.97× | — | ||
| Q1 25 | 3.91× | — | ||
| Q4 24 | 3.85× | 8.50× | ||
| Q3 24 | 2.75× | 1.84× | ||
| Q2 24 | 2.67× | 1.78× | ||
| Q1 24 | 2.61× | — |
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 | $-64.6M | $58.0M |
| 自由现金流经营现金流 - 资本支出 | $-70.7M | $55.0M |
| 自由现金流率自由现金流/营收 | -16.1% | 18.6% |
| 资本支出强度资本支出/营收 | 1.4% | 1.0% |
| 现金转化率经营现金流/净利润 | — | 1.58× |
| 过去12个月自由现金流最近4个季度 | $54.8M | $257.8M |
8季度趋势，按日历期对齐
经营现金流BGSBLKB
| Q4 25 | — | $58.0M | ||
| Q3 25 | $-64.6M | $139.2M | ||
| Q2 25 | $17.8M | $66.9M | ||
| Q1 25 | $52.7M | $1.4M | ||
| Q4 24 | $80.3M | $73.6M | ||
| Q3 24 | $4.2M | $104.0M | ||
| Q2 24 | $11.3M | $53.1M | ||
| Q1 24 | $35.1M | $65.3M |
自由现金流BGSBLKB
| Q4 25 | — | $55.0M | ||
| Q3 25 | $-70.7M | $135.7M | ||
| Q2 25 | $11.5M | $66.3M | ||
| Q1 25 | $42.4M | $712.0K | ||
| Q4 24 | $71.7M | $73.4M | ||
| Q3 24 | $-679.0K | $102.9M | ||
| Q2 24 | $5.2M | $48.0M | ||
| Q1 24 | $27.5M | $64.3M |
自由现金流率BGSBLKB
| Q4 25 | — | 18.6% | ||
| Q3 25 | -16.1% | 48.3% | ||
| Q2 25 | 2.7% | 23.5% | ||
| Q1 25 | 10.0% | 0.3% | ||
| Q4 24 | 13.0% | 24.3% | ||
| Q3 24 | -0.1% | 35.9% | ||
| Q2 24 | 1.2% | 16.7% | ||
| Q1 24 | 5.8% | 23.1% |
资本支出强度BGSBLKB
| Q4 25 | — | 1.0% | ||
| Q3 25 | 1.4% | 1.2% | ||
| Q2 25 | 1.5% | 0.2% | ||
| Q1 25 | 2.4% | 0.3% | ||
| Q4 24 | 1.6% | 0.1% | ||
| Q3 24 | 1.0% | 0.4% | ||
| Q2 24 | 1.4% | 1.8% | ||
| Q1 24 | 1.6% | 0.4% |
现金转化率BGSBLKB
| Q4 25 | — | 1.58× | ||
| Q3 25 | — | 2.93× | ||
| Q2 25 | — | 2.53× | ||
| Q1 25 | 63.17× | 0.32× | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.56× | 5.69× | ||
| Q2 24 | 2.87× | 2.50× | ||
| Q1 24 | — | 8.94× |
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
BGS
| Specialty Segment | $150.5M | 34% |
| Meals Segment | $110.0M | 25% |
| Spices And Flavor Solutions Segment | $101.4M | 23% |
| Frozen And Vegetables Segment | $77.4M | 18% |
BLKB
| Contractual Recurring | $182.7M | 62% |
| Transactional Recurring | $108.0M | 37% |
| One Time Services And Other | $4.5M | 2% |
