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B&G Foods, Inc.（BGS）与SPIRE INC（SR）财务数据对比。点击上方公司名可切换其他公司
SPIRE INC的季度营收约是B&G Foods, Inc.的1.7倍（$762.2M vs $439.3M），SPIRE INC净利率更高（12.5% vs -4.4%，领先16.8%），SPIRE INC同比增速更快（13.9% vs -4.7%），B&G Foods, Inc.自由现金流更多（$-70.7M vs $-121.8M），过去两年B&G Foods, Inc.的营收复合增速更高（-12.8% vs -17.8%）
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。
Spire Inc是总部位于美国密苏里州圣路易斯的区域公用事业控股公司，核心业务为受监管的天然气供应服务，同时布局非监管类业务拓展商业机会。旗下主要子公司Laclede Gas Company是密苏里州最大的天然气分销公用事业企业，为圣路易斯市及密苏里州东部10个县的约63.1万户住宅、商业及工业客户提供服务。
BGS vs SR — 直观对比
营收规模更大
SR
是对方的1.7倍
$439.3M
营收增速更快
SR
高出18.6%
-4.7%
净利率更高
SR
高出16.8%
-4.4%
自由现金流更多
BGS
多$51.1M
$-121.8M
两年增速更快
BGS
近两年复合增速
-17.8%
损益表 — Q3 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $439.3M | $762.2M |
| 净利润 | $-19.1M | $95.0M |
| 毛利率 | 22.5% | 55.1% |
| 营业利润率 | 2.5% | 22.8% |
| 净利率 | -4.4% | 12.5% |
| 营收同比 | -4.7% | 13.9% |
| 净利润同比 | -356.5% | 16.9% |
| 每股收益（稀释后） | $-0.24 | $1.54 |
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BGSSR
| Q4 25 | — | $762.2M | ||
| Q3 25 | $439.3M | $334.1M | ||
| Q2 25 | $424.4M | $421.9M | ||
| Q1 25 | $425.4M | $1.1B | ||
| Q4 24 | $551.6M | $669.1M | ||
| Q3 24 | $461.1M | $293.8M | ||
| Q2 24 | $444.6M | $414.1M | ||
| Q1 24 | $475.2M | $1.1B |
净利润BGSSR
| Q4 25 | — | $95.0M | ||
| Q3 25 | $-19.1M | $-39.8M | ||
| Q2 25 | $-9.8M | $20.9M | ||
| Q1 25 | $835.0K | $209.3M | ||
| Q4 24 | $-222.4M | $81.3M | ||
| Q3 24 | $7.5M | $-25.9M | ||
| Q2 24 | $3.9M | $-12.6M | ||
| Q1 24 | $-40.2M | $204.3M |
毛利率BGSSR
| Q4 25 | — | 55.1% | ||
| Q3 25 | 22.5% | — | ||
| Q2 25 | 20.5% | — | ||
| Q1 25 | 21.2% | — | ||
| Q4 24 | 21.5% | 55.6% | ||
| Q3 24 | 22.2% | — | ||
| Q2 24 | 20.7% | — | ||
| Q1 24 | 22.9% | — |
营业利润率BGSSR
| Q4 25 | — | 22.8% | ||
| Q3 25 | 2.5% | -0.1% | ||
| Q2 25 | 5.2% | 16.4% | ||
| Q1 25 | 8.4% | 29.1% | ||
| Q4 24 | -46.6% | 22.2% | ||
| Q3 24 | 11.1% | 6.7% | ||
| Q2 24 | 9.9% | 7.4% | ||
| Q1 24 | -3.3% | 26.5% |
净利率BGSSR
| Q4 25 | — | 12.5% | ||
| Q3 25 | -4.4% | -11.9% | ||
| Q2 25 | -2.3% | 5.0% | ||
| Q1 25 | 0.2% | 19.9% | ||
| Q4 24 | -40.3% | 12.2% | ||
| Q3 24 | 1.6% | -8.8% | ||
| Q2 24 | 0.9% | -3.0% | ||
| Q1 24 | -8.5% | 18.1% |
每股收益（稀释后）BGSSR
| Q4 25 | — | $1.54 | ||
| Q3 25 | $-0.24 | $-0.77 | ||
| Q2 25 | $-0.12 | $0.29 | ||
| Q1 25 | $0.01 | $3.51 | ||
| Q4 24 | $-2.81 | $1.34 | ||
| Q3 24 | $0.09 | $-0.63 | ||
| Q2 24 | $0.05 | $-0.28 | ||
| Q1 24 | $-0.51 | $3.58 |
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 | $4.1M |
| 总债务越低越好 | $2.0B | — |
| 股东权益账面价值 | $470.7M | $3.4B |
| 总资产 | $2.9B | $11.9B |
| 负债/权益比越低杠杆越低 | 4.30× | — |
8季度趋势，按日历期对齐
现金及短期投资BGSSR
| Q4 25 | — | $4.1M | ||
| Q3 25 | $60.9M | $5.7M | ||
| Q2 25 | $54.1M | $13.1M | ||
| Q1 25 | $61.2M | $15.2M | ||
| Q4 24 | $50.6M | $11.5M | ||
| Q3 24 | $54.7M | $4.5M | ||
| Q2 24 | $40.3M | $7.4M | ||
| Q1 24 | $42.5M | $25.6M |
总债务BGSSR
| Q4 25 | — | — | ||
| Q3 25 | $2.0B | — | ||
| Q2 25 | $2.0B | — | ||
| Q1 25 | $2.0B | — | ||
| Q4 24 | $2.0B | — | ||
| Q3 24 | $2.1B | — | ||
| Q2 24 | $2.0B | — | ||
| Q1 24 | $2.0B | — |
股东权益BGSSR
| Q4 25 | — | $3.4B | ||
| Q3 25 | $470.7M | $3.4B | ||
| Q2 25 | $501.4M | $3.5B | ||
| Q1 25 | $513.1M | $3.5B | ||
| Q4 24 | $524.8M | $3.3B | ||
| Q3 24 | $755.3M | $3.2B | ||
| Q2 24 | $765.0M | $3.3B | ||
| Q1 24 | $781.2M | $3.4B |
总资产BGSSR
| Q4 25 | — | $11.9B | ||
| Q3 25 | $2.9B | $11.6B | ||
| Q2 25 | $2.9B | $11.4B | ||
| Q1 25 | $3.0B | $11.3B | ||
| Q4 24 | $3.0B | $11.3B | ||
| Q3 24 | $3.4B | $10.9B | ||
| Q2 24 | $3.4B | $10.7B | ||
| Q1 24 | $3.4B | $10.7B |
负债/权益比BGSSR
| Q4 25 | — | — | ||
| Q3 25 | 4.30× | — | ||
| Q2 25 | 3.97× | — | ||
| Q1 25 | 3.91× | — | ||
| Q4 24 | 3.85× | — | ||
| Q3 24 | 2.75× | — | ||
| Q2 24 | 2.67× | — | ||
| 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 | $81.0M |
| 自由现金流经营现金流 - 资本支出 | $-70.7M | $-121.8M |
| 自由现金流率自由现金流/营收 | -16.1% | -16.0% |
| 资本支出强度资本支出/营收 | 1.4% | 26.6% |
| 现金转化率经营现金流/净利润 | — | 0.85× |
| 过去12个月自由现金流最近4个季度 | $54.8M | $-286.7M |
8季度趋势，按日历期对齐
经营现金流BGSSR
| Q4 25 | — | $81.0M | ||
| Q3 25 | $-64.6M | $-4.9M | ||
| Q2 25 | $17.8M | $129.1M | ||
| Q1 25 | $52.7M | $372.7M | ||
| Q4 24 | $80.3M | $81.1M | ||
| Q3 24 | $4.2M | $82.9M | ||
| Q2 24 | $11.3M | $270.1M | ||
| Q1 24 | $35.1M | $489.4M |
自由现金流BGSSR
| Q4 25 | — | $-121.8M | ||
| Q3 25 | $-70.7M | $-227.6M | ||
| Q2 25 | $11.5M | $-91.4M | ||
| Q1 25 | $42.4M | $154.1M | ||
| Q4 24 | $71.7M | $-179.5M | ||
| Q3 24 | $-679.0K | $-146.9M | ||
| Q2 24 | $5.2M | $47.9M | ||
| Q1 24 | $27.5M | $306.6M |
自由现金流率BGSSR
| Q4 25 | — | -16.0% | ||
| Q3 25 | -16.1% | -68.1% | ||
| Q2 25 | 2.7% | -21.7% | ||
| Q1 25 | 10.0% | 14.7% | ||
| Q4 24 | 13.0% | -26.8% | ||
| Q3 24 | -0.1% | -50.0% | ||
| Q2 24 | 1.2% | 11.6% | ||
| Q1 24 | 5.8% | 27.2% |
资本支出强度BGSSR
| Q4 25 | — | 26.6% | ||
| Q3 25 | 1.4% | 66.7% | ||
| Q2 25 | 1.5% | 52.3% | ||
| Q1 25 | 2.4% | 20.8% | ||
| Q4 24 | 1.6% | 38.9% | ||
| Q3 24 | 1.0% | 78.2% | ||
| Q2 24 | 1.4% | 53.7% | ||
| Q1 24 | 1.6% | 16.2% |
现金转化率BGSSR
| Q4 25 | — | 0.85× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 6.18× | ||
| Q1 25 | 63.17× | 1.78× | ||
| Q4 24 | — | 1.00× | ||
| Q3 24 | 0.56× | — | ||
| Q2 24 | 2.87× | — | ||
| Q1 24 | — | 2.40× |
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% |
SR
| Residential | $474.9M | 62% |
| Commercial And Industrial | $148.4M | 19% |
| Gas Marketing | $41.1M | 5% |
| Midstream | $39.0M | 5% |
| Transportation | $37.1M | 5% |
| Offsystem And Other Inventive | $19.7M | 3% |
| Other Customer Revenue | $4.6M | 1% |
