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BJ's Wholesale Club Holdings, Inc.（BJ）与福陆（FLR）财务数据对比。点击上方公司名可切换其他公司
BJ's Wholesale Club Holdings, Inc.的季度营收约是福陆的1.3倍（$5.3B vs $4.2B），BJ's Wholesale Club Holdings, Inc.净利率更高（2.8% vs -37.7%，领先40.5%），BJ's Wholesale Club Holdings, Inc.同比增速更快（4.9% vs -2.0%），BJ's Wholesale Club Holdings, Inc.自由现金流更多（$-13.7M vs $-378.0M），过去两年福陆的营收复合增速更高（5.7% 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。
福陆是总部位于美国得克萨斯州欧文市的工程建设企业，通过旗下子公司提供油气、工业与基础设施、政府项目及电力三大核心领域的服务，是《财富》世界500强中排名最高的上市工程建设企业，总排名位列第265位。
BJ vs FLR — 直观对比
营收规模更大
BJ
是对方的1.3倍
$4.2B
营收增速更快
BJ
高出6.9%
-2.0%
净利率更高
BJ
高出40.5%
-37.7%
自由现金流更多
BJ
多$364.3M
$-378.0M
两年增速更快
FLR
近两年复合增速
-0.1%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $5.3B | $4.2B |
| 净利润 | $152.1M | $-1.6B |
| 毛利率 | 19.0% | 3.2% |
| 营业利润率 | 4.1% | 1.3% |
| 净利率 | 2.8% | -37.7% |
| 营收同比 | 4.9% | -2.0% |
| 净利润同比 | -2.4% | -184.4% |
| 每股收益（稀释后） | $1.15 | $-9.40 |
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BJFLR
| Q4 25 | $5.3B | $4.2B | ||
| Q3 25 | $5.4B | $3.4B | ||
| Q2 25 | $5.2B | $4.0B | ||
| Q1 25 | $5.3B | $4.0B | ||
| Q4 24 | $5.1B | $4.3B | ||
| Q3 24 | $5.2B | $4.1B | ||
| Q2 24 | $4.9B | $4.2B | ||
| Q1 24 | $5.4B | $3.7B |
净利润BJFLR
| Q4 25 | $152.1M | $-1.6B | ||
| Q3 25 | $150.7M | $-697.0M | ||
| Q2 25 | $149.8M | $2.5B | ||
| Q1 25 | $122.7M | $-241.0M | ||
| Q4 24 | $155.7M | $1.9B | ||
| Q3 24 | $145.0M | $54.0M | ||
| Q2 24 | $111.0M | $169.0M | ||
| Q1 24 | $145.9M | $59.0M |
毛利率BJFLR
| Q4 25 | 19.0% | 3.2% | ||
| Q3 25 | 18.7% | -13.3% | ||
| Q2 25 | 18.8% | 1.4% | ||
| Q1 25 | 18.0% | 3.5% | ||
| Q4 24 | 19.1% | 4.9% | ||
| Q3 24 | 18.4% | 2.1% | ||
| Q2 24 | 18.0% | 4.2% | ||
| Q1 24 | 18.0% | 2.7% |
营业利润率BJFLR
| Q4 25 | 4.1% | 1.3% | ||
| Q3 25 | 4.0% | -14.7% | ||
| Q2 25 | 4.0% | -0.7% | ||
| Q1 25 | 3.4% | 2.3% | ||
| Q4 24 | 4.5% | 4.4% | ||
| Q3 24 | 3.9% | 1.2% | ||
| Q2 24 | 3.3% | 4.2% | ||
| Q1 24 | 4.0% | 1.4% |
净利率BJFLR
| Q4 25 | 2.8% | -37.7% | ||
| Q3 25 | 2.8% | -20.7% | ||
| Q2 25 | 2.9% | 61.8% | ||
| Q1 25 | 2.3% | -6.1% | ||
| Q4 24 | 3.1% | 43.7% | ||
| Q3 24 | 2.8% | 1.3% | ||
| Q2 24 | 2.3% | 4.0% | ||
| Q1 24 | 2.7% | 1.6% |
每股收益（稀释后）BJFLR
| Q4 25 | $1.15 | $-9.40 | ||
| Q3 25 | $1.14 | $-4.30 | ||
| Q2 25 | $1.13 | $14.81 | ||
| Q1 25 | $0.92 | $-1.42 | ||
| Q4 24 | $1.17 | $10.68 | ||
| Q3 24 | $1.08 | $0.31 | ||
| Q2 24 | $0.83 | $0.97 | ||
| Q1 24 | $1.09 | $0.34 |
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 | $2.2B |
| 总债务越低越好 | $399.0M | — |
| 股东权益账面价值 | $2.2B | $3.2B |
| 总资产 | $7.5B | $8.2B |
| 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BJFLR
| Q4 25 | $45.1M | $2.2B | ||
| Q3 25 | $47.3M | $2.8B | ||
| Q2 25 | $39.5M | $2.3B | ||
| Q1 25 | $28.3M | $2.5B | ||
| Q4 24 | $33.9M | $3.0B | ||
| Q3 24 | $38.1M | $3.0B | ||
| Q2 24 | $35.1M | $2.7B | ||
| Q1 24 | $36.0M | $2.4B |
总债务BJFLR
| Q4 25 | $399.0M | — | ||
| Q3 25 | $399.0M | — | ||
| Q2 25 | $398.9M | — | ||
| Q1 25 | $398.8M | — | ||
| Q4 24 | $398.7M | — | ||
| Q3 24 | $398.6M | — | ||
| Q2 24 | $398.5M | — | ||
| Q1 24 | $398.4M | — |
股东权益BJFLR
| Q4 25 | $2.2B | $3.2B | ||
| Q3 25 | $2.1B | $5.2B | ||
| Q2 25 | $2.0B | $5.9B | ||
| Q1 25 | $1.8B | $3.6B | ||
| Q4 24 | $1.8B | $3.9B | ||
| Q3 24 | $1.7B | $2.3B | ||
| Q2 24 | $1.5B | $2.1B | ||
| Q1 24 | $1.5B | $2.0B |
总资产BJFLR
| Q4 25 | $7.5B | $8.2B | ||
| Q3 25 | $7.2B | $11.5B | ||
| Q2 25 | $7.2B | $11.8B | ||
| Q1 25 | $7.1B | $8.4B | ||
| Q4 24 | $7.2B | $9.1B | ||
| Q3 24 | $6.9B | $7.1B | ||
| Q2 24 | $6.8B | $6.8B | ||
| Q1 24 | $6.7B | $6.7B |
负债/权益比BJFLR
| Q4 25 | 0.18× | — | ||
| Q3 25 | 0.19× | — | ||
| Q2 25 | 0.20× | — | ||
| Q1 25 | 0.22× | — | ||
| Q4 24 | 0.23× | — | ||
| Q3 24 | 0.24× | — | ||
| Q2 24 | 0.26× | — | ||
| Q1 24 | 0.27× | — |
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 | $-366.0M |
| 自由现金流经营现金流 - 资本支出 | $-13.7M | $-378.0M |
| 自由现金流率自由现金流/营收 | -0.3% | -9.1% |
| 资本支出强度资本支出/营收 | 3.6% | 0.3% |
| 现金转化率经营现金流/净利润 | 1.19× | — |
| 过去12个月自由现金流最近4个季度 | $249.6M | $-437.0M |
8季度趋势，按日历期对齐
经营现金流BJFLR
| Q4 25 | $181.1M | $-366.0M | ||
| Q3 25 | $249.9M | $286.0M | ||
| Q2 25 | $208.1M | $-21.0M | ||
| Q1 25 | $271.9M | $-286.0M | ||
| Q4 24 | $206.8M | $327.0M | ||
| Q3 24 | $221.4M | $330.0M | ||
| Q2 24 | $200.8M | $282.0M | ||
| Q1 24 | $274.4M | $-111.0M |
自由现金流BJFLR
| Q4 25 | $-13.7M | $-378.0M | ||
| Q3 25 | $84.3M | $273.0M | ||
| Q2 25 | $67.6M | $-35.0M | ||
| Q1 25 | $111.5M | $-297.0M | ||
| Q4 24 | $18.8M | $296.0M | ||
| Q3 24 | $87.5M | $279.0M | ||
| Q2 24 | $95.1M | $234.0M | ||
| Q1 24 | $155.2M | $-145.0M |
自由现金流率BJFLR
| Q4 25 | -0.3% | -9.1% | ||
| Q3 25 | 1.6% | 8.1% | ||
| Q2 25 | 1.3% | -0.9% | ||
| Q1 25 | 2.1% | -7.5% | ||
| Q4 24 | 0.4% | 6.9% | ||
| Q3 24 | 1.7% | 6.8% | ||
| Q2 24 | 1.9% | 5.5% | ||
| Q1 24 | 2.9% | -3.9% |
资本支出强度BJFLR
| Q4 25 | 3.6% | 0.3% | ||
| Q3 25 | 3.1% | 0.4% | ||
| Q2 25 | 2.7% | 0.4% | ||
| Q1 25 | 3.0% | 0.3% | ||
| Q4 24 | 3.7% | 0.7% | ||
| Q3 24 | 2.6% | 1.2% | ||
| Q2 24 | 2.1% | 1.1% | ||
| Q1 24 | 2.2% | 0.9% |
现金转化率BJFLR
| Q4 25 | 1.19× | — | ||
| Q3 25 | 1.66× | — | ||
| Q2 25 | 1.39× | -0.01× | ||
| Q1 25 | 2.22× | — | ||
| Q4 24 | 1.33× | 0.18× | ||
| Q3 24 | 1.53× | 6.11× | ||
| Q2 24 | 1.81× | 1.67× | ||
| Q1 24 | 1.88× | -1.88× |
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% |
FLR
| Urban Solutions Segment | $2.6B | 63% |
| Energy Solutions Segment | $943.0M | 23% |
| Mission Solutions Segment | $600.0M | 14% |
