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BJ's Wholesale Club Holdings, Inc.（BJ）与丹纳赫（DHR）财务数据对比。点击上方公司名可切换其他公司
丹纳赫的季度营收约是BJ's Wholesale Club Holdings, Inc.的1.1倍（$6.0B vs $5.3B），丹纳赫净利率更高（17.3% vs 2.8%，领先14.4%），BJ's Wholesale Club Holdings, Inc.同比增速更快（4.9% vs 3.7%），丹纳赫自由现金流更多（$1.1B vs $-13.7M），过去两年丹纳赫的营收复合增速更高（1.8% vs -0.1%）
BJ's Wholesale Club Holdings是美国区域型会员制仓储连锁商超，总部位于马萨诸塞州马尔伯勒，业务覆盖美国东部地区及俄亥俄、密歇根、肯塔基州路易斯维尔、印第安纳、田纳西、佛罗里达、阿拉巴马等地，主要竞争对手为好市多和山姆会员店。
丹纳赫是总部位于美国华盛顿特区的医疗健康企业，聚焦生物技术、生命科学与诊断领域的产品研发。公司下设三大业务板块：生物技术板块开发治疗相关产品，生命科学板块覆盖疾病溯源、新疗法研发、药物疫苗与基因编辑技术的测试生产，诊断板块研发检测仪器，为全球生命健康产业提供核心支持。
BJ vs DHR — 直观对比
营收规模更大
DHR
是对方的1.1倍
$5.3B
营收增速更快
BJ
高出1.2%
3.7%
净利率更高
DHR
高出14.4%
2.8%
自由现金流更多
DHR
多$1.1B
$-13.7M
两年增速更快
DHR
近两年复合增速
-0.1%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $5.3B | $6.0B |
| 净利润 | $152.1M | $1.0B |
| 毛利率 | 19.0% | 60.3% |
| 营业利润率 | 4.1% | 22.6% |
| 净利率 | 2.8% | 17.3% |
| 营收同比 | 4.9% | 3.7% |
| 净利润同比 | -2.4% | 7.9% |
| 每股收益（稀释后） | $1.15 | $1.45 |
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BJDHR
| Q1 26 | — | $6.0B | ||
| Q4 25 | $5.3B | $6.8B | ||
| Q3 25 | $5.4B | $6.1B | ||
| Q2 25 | $5.2B | $5.9B | ||
| Q1 25 | $5.3B | $5.7B | ||
| Q4 24 | $5.1B | $6.5B | ||
| Q3 24 | $5.2B | $5.8B | ||
| Q2 24 | $4.9B | $5.7B |
净利润BJDHR
| Q1 26 | — | $1.0B | ||
| Q4 25 | $152.1M | $1.2B | ||
| Q3 25 | $150.7M | $908.0M | ||
| Q2 25 | $149.8M | $555.0M | ||
| Q1 25 | $122.7M | $954.0M | ||
| Q4 24 | $155.7M | $1.1B | ||
| Q3 24 | $145.0M | $818.0M | ||
| Q2 24 | $111.0M | $907.0M |
毛利率BJDHR
| Q1 26 | — | 60.3% | ||
| Q4 25 | 19.0% | 58.0% | ||
| Q3 25 | 18.7% | 58.2% | ||
| Q2 25 | 18.8% | 59.3% | ||
| Q1 25 | 18.0% | 61.2% | ||
| Q4 24 | 19.1% | 59.5% | ||
| Q3 24 | 18.4% | 58.7% | ||
| Q2 24 | 18.0% | 59.7% |
营业利润率BJDHR
| Q1 26 | — | 22.6% | ||
| Q4 25 | 4.1% | 22.0% | ||
| Q3 25 | 4.0% | 19.1% | ||
| Q2 25 | 4.0% | 12.8% | ||
| Q1 25 | 3.4% | 22.2% | ||
| Q4 24 | 4.5% | 21.8% | ||
| Q3 24 | 3.9% | 16.5% | ||
| Q2 24 | 3.3% | 20.3% |
净利率BJDHR
| Q1 26 | — | 17.3% | ||
| Q4 25 | 2.8% | 17.5% | ||
| Q3 25 | 2.8% | 15.0% | ||
| Q2 25 | 2.9% | 9.3% | ||
| Q1 25 | 2.3% | 16.6% | ||
| Q4 24 | 3.1% | 16.6% | ||
| Q3 24 | 2.8% | 14.1% | ||
| Q2 24 | 2.3% | 15.8% |
每股收益（稀释后）BJDHR
| Q1 26 | — | $1.45 | ||
| Q4 25 | $1.15 | $1.69 | ||
| Q3 25 | $1.14 | $1.27 | ||
| Q2 25 | $1.13 | $0.77 | ||
| Q1 25 | $0.92 | $1.32 | ||
| Q4 24 | $1.17 | $1.50 | ||
| Q3 24 | $1.08 | $1.12 | ||
| Q2 24 | $0.83 | $1.22 |
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 | $45.1M | — |
| 总债务越低越好 | $399.0M | — |
| 股东权益账面价值 | $2.2B | — |
| 总资产 | $7.5B | — |
| 负债/权益比越低杠杆越低 | 0.18× | — |
8季度趋势，按日历期对齐
现金及短期投资BJDHR
| Q1 26 | — | — | ||
| Q4 25 | $45.1M | — | ||
| Q3 25 | $47.3M | — | ||
| Q2 25 | $39.5M | — | ||
| Q1 25 | $28.3M | — | ||
| Q4 24 | $33.9M | — | ||
| Q3 24 | $38.1M | — | ||
| Q2 24 | $35.1M | — |
总债务BJDHR
| Q1 26 | — | — | ||
| Q4 25 | $399.0M | $18.4B | ||
| Q3 25 | $399.0M | $16.9B | ||
| Q2 25 | $398.9M | $17.4B | ||
| Q1 25 | $398.8M | $16.5B | ||
| Q4 24 | $398.7M | $16.0B | ||
| Q3 24 | $398.6M | $17.5B | ||
| Q2 24 | $398.5M | $17.0B |
股东权益BJDHR
| Q1 26 | — | — | ||
| Q4 25 | $2.2B | $52.5B | ||
| Q3 25 | $2.1B | $51.1B | ||
| Q2 25 | $2.0B | $52.3B | ||
| Q1 25 | $1.8B | $50.8B | ||
| Q4 24 | $1.8B | $49.5B | ||
| Q3 24 | $1.7B | $51.3B | ||
| Q2 24 | $1.5B | $49.9B |
总资产BJDHR
| Q1 26 | — | — | ||
| Q4 25 | $7.5B | $83.5B | ||
| Q3 25 | $7.2B | $79.9B | ||
| Q2 25 | $7.2B | $81.6B | ||
| Q1 25 | $7.1B | $79.1B | ||
| Q4 24 | $7.2B | $77.5B | ||
| Q3 24 | $6.9B | $80.6B | ||
| Q2 24 | $6.8B | $78.6B |
负债/权益比BJDHR
| Q1 26 | — | — | ||
| Q4 25 | 0.18× | 0.35× | ||
| Q3 25 | 0.19× | 0.33× | ||
| Q2 25 | 0.20× | 0.33× | ||
| Q1 25 | 0.22× | 0.32× | ||
| Q4 24 | 0.23× | 0.32× | ||
| Q3 24 | 0.24× | 0.34× | ||
| Q2 24 | 0.26× | 0.34× |
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 | $181.1M | $1.3B |
| 自由现金流经营现金流 - 资本支出 | $-13.7M | $1.1B |
| 自由现金流率自由现金流/营收 | -0.3% | 18.2% |
| 资本支出强度资本支出/营收 | 3.6% | 4.0% |
| 现金转化率经营现金流/净利润 | 1.19× | 1.28× |
| 过去12个月自由现金流最近4个季度 | $249.6M | $5.3B |
8季度趋势，按日历期对齐
经营现金流BJDHR
| Q1 26 | — | $1.3B | ||
| Q4 25 | $181.1M | $2.1B | ||
| Q3 25 | $249.9M | $1.7B | ||
| Q2 25 | $208.1M | $1.3B | ||
| Q1 25 | $271.9M | $1.3B | ||
| Q4 24 | $206.8M | $2.0B | ||
| Q3 24 | $221.4M | $1.5B | ||
| Q2 24 | $200.8M | $1.4B |
自由现金流BJDHR
| Q1 26 | — | $1.1B | ||
| Q4 25 | $-13.7M | $1.7B | ||
| Q3 25 | $84.3M | $1.4B | ||
| Q2 25 | $67.6M | $1.1B | ||
| Q1 25 | $111.5M | $1.1B | ||
| Q4 24 | $18.8M | $1.5B | ||
| Q3 24 | $87.5M | $1.2B | ||
| Q2 24 | $95.1M | $1.1B |
自由现金流率BJDHR
| Q1 26 | — | 18.2% | ||
| Q4 25 | -0.3% | 25.5% | ||
| Q3 25 | 1.6% | 22.6% | ||
| Q2 25 | 1.3% | 18.4% | ||
| Q1 25 | 2.1% | 18.4% | ||
| Q4 24 | 0.4% | 23.0% | ||
| Q3 24 | 1.7% | 21.0% | ||
| Q2 24 | 1.9% | 19.7% |
资本支出强度BJDHR
| Q1 26 | — | 4.0% | ||
| Q4 25 | 3.6% | 5.4% | ||
| Q3 25 | 3.1% | 4.8% | ||
| Q2 25 | 2.7% | 4.2% | ||
| Q1 25 | 3.0% | 4.3% | ||
| Q4 24 | 3.7% | 7.9% | ||
| Q3 24 | 2.6% | 5.1% | ||
| Q2 24 | 2.1% | 5.0% |
现金转化率BJDHR
| Q1 26 | — | 1.28× | ||
| Q4 25 | 1.19× | 1.77× | ||
| Q3 25 | 1.66× | 1.83× | ||
| Q2 25 | 1.39× | 2.41× | ||
| Q1 25 | 2.22× | 1.36× | ||
| Q4 24 | 1.33× | 1.86× | ||
| Q3 24 | 1.53× | 1.85× | ||
| Q2 24 | 1.81× | 1.56× |
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
BJ
| Products | $5.4B | 102% |
| Membership | $129.8M | 2% |
DHR
暂无分部数据
