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BJ's Wholesale Club Holdings, Inc.（BJ）与Lumen Technologies, Inc.（LUMN）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Lumen Technologies, Inc.的1.9倍（$5.3B vs $2.7B），BJ's Wholesale Club Holdings, Inc.净利率更高（2.8% vs -0.1%，领先2.9%），BJ's Wholesale Club Holdings, Inc.同比增速更快（4.9% vs -11.0%），BJ's Wholesale Club Holdings, Inc.自由现金流更多（$-13.7M vs $-1.1B），过去两年BJ's Wholesale Club Holdings, Inc.的营收复合增速更高（-0.1% vs -5.3%）
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。
Lumen Technologies是总部位于美国路易斯安那州门罗市的电信企业，依托自有光纤、铜线网络、数据中心及云计算资源，为客户提供网络、安全、云、语音及各类托管通信服务，2023年3月起纳入标普600指数，此前曾为标普500指数成分股。
BJ vs LUMN — 直观对比
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $5.3B | $2.7B |
| 净利润 | $152.1M | $-2.0M |
| 毛利率 | 19.0% | 40.7% |
| 营业利润率 | 4.1% | -7.3% |
| 净利率 | 2.8% | -0.1% |
| 营收同比 | 4.9% | -11.0% |
| 净利润同比 | -2.4% | -102.4% |
| 每股收益（稀释后） | $1.15 | $-0.01 |
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
| Q4 25 | $5.3B | $2.7B | ||
| Q3 25 | $5.4B | $2.8B | ||
| Q2 25 | $5.2B | $2.9B | ||
| Q1 25 | $5.3B | $2.9B | ||
| Q4 24 | $5.1B | $3.1B | ||
| Q3 24 | $5.2B | $3.0B | ||
| Q2 24 | $4.9B | $3.0B | ||
| Q1 24 | $5.4B | $3.1B |
| Q4 25 | $152.1M | $-2.0M | ||
| Q3 25 | $150.7M | $-621.0M | ||
| Q2 25 | $149.8M | $-915.0M | ||
| Q1 25 | $122.7M | $-201.0M | ||
| Q4 24 | $155.7M | $85.0M | ||
| Q3 24 | $145.0M | $-148.0M | ||
| Q2 24 | $111.0M | $-49.0M | ||
| Q1 24 | $145.9M | $57.0M |
| Q4 25 | 19.0% | 40.7% | ||
| Q3 25 | 18.7% | 39.4% | ||
| Q2 25 | 18.8% | 43.4% | ||
| Q1 25 | 18.0% | 42.0% | ||
| Q4 24 | 19.1% | 44.7% | ||
| Q3 24 | 18.4% | 43.0% | ||
| Q2 24 | 18.0% | 45.2% | ||
| Q1 24 | 18.0% | 46.0% |
| Q4 25 | 4.1% | -7.3% | ||
| Q3 25 | 4.0% | -4.1% | ||
| Q2 25 | 4.0% | -21.0% | ||
| Q1 25 | 3.4% | 3.7% | ||
| Q4 24 | 4.5% | 5.0% | ||
| Q3 24 | 3.9% | 4.2% | ||
| Q2 24 | 3.3% | 4.5% | ||
| Q1 24 | 4.0% | 1.5% |
| Q4 25 | 2.8% | -0.1% | ||
| Q3 25 | 2.8% | -22.1% | ||
| Q2 25 | 2.9% | -31.9% | ||
| Q1 25 | 2.3% | -6.9% | ||
| Q4 24 | 3.1% | 2.8% | ||
| Q3 24 | 2.8% | -5.0% | ||
| Q2 24 | 2.3% | -1.6% | ||
| Q1 24 | 2.7% | 1.9% |
| Q4 25 | $1.15 | $-0.01 | ||
| Q3 25 | $1.14 | $-0.62 | ||
| Q2 25 | $1.13 | $-0.92 | ||
| Q1 25 | $0.92 | $-0.20 | ||
| Q4 24 | $1.17 | $0.08 | ||
| Q3 24 | $1.08 | $-0.15 | ||
| Q2 24 | $0.83 | $-0.05 | ||
| Q1 24 | $1.09 | $0.06 |
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 | $1.0B |
| 总债务越低越好 | $399.0M | $17.4B |
| 股东权益账面价值 | $2.2B | $-1.1B |
| 总资产 | $7.5B | $34.3B |
| 负债/权益比越低杠杆越低 | 0.18× | — |
8季度趋势，按日历期对齐
| Q4 25 | $45.1M | $1.0B | ||
| Q3 25 | $47.3M | $2.4B | ||
| Q2 25 | $39.5M | $1.6B | ||
| Q1 25 | $28.3M | $1.9B | ||
| Q4 24 | $33.9M | $1.9B | ||
| Q3 24 | $38.1M | $2.6B | ||
| Q2 24 | $35.1M | $1.5B | ||
| Q1 24 | $36.0M | $1.6B |
| Q4 25 | $399.0M | $17.4B | ||
| Q3 25 | $399.0M | $17.6B | ||
| Q2 25 | $398.9M | $17.6B | ||
| Q1 25 | $398.8M | $17.3B | ||
| Q4 24 | $398.7M | $17.5B | ||
| Q3 24 | $398.6M | $18.1B | ||
| Q2 24 | $398.5M | $18.4B | ||
| Q1 24 | $398.4M | $18.6B |
| Q4 25 | $2.2B | $-1.1B | ||
| Q3 25 | $2.1B | $-1.2B | ||
| Q2 25 | $2.0B | $-595.0M | ||
| Q1 25 | $1.8B | $289.0M | ||
| Q4 24 | $1.8B | $464.0M | ||
| Q3 24 | $1.7B | $342.0M | ||
| Q2 24 | $1.5B | $466.0M | ||
| Q1 24 | $1.5B | $504.0M |
| Q4 25 | $7.5B | $34.3B | ||
| Q3 25 | $7.2B | $34.3B | ||
| Q2 25 | $7.2B | $33.0B | ||
| Q1 25 | $7.1B | $33.5B | ||
| Q4 24 | $7.2B | $33.5B | ||
| Q3 24 | $6.9B | $34.0B | ||
| Q2 24 | $6.8B | $32.9B | ||
| Q1 24 | $6.7B | $33.2B |
| Q4 25 | 0.18× | — | ||
| Q3 25 | 0.19× | — | ||
| Q2 25 | 0.20× | — | ||
| Q1 25 | 0.22× | 59.98× | ||
| Q4 24 | 0.23× | 37.70× | ||
| Q3 24 | 0.24× | 53.05× | ||
| Q2 24 | 0.26× | 39.51× | ||
| Q1 24 | 0.27× | 36.89× |
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 | $562.0M |
| 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% | -39.4% |
| 资本支出强度资本支出/营收 | 3.6% | 59.9% |
| 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 | $371.0M |
8季度趋势，按日历期对齐
| Q4 25 | $181.1M | $562.0M | ||
| Q3 25 | $249.9M | $2.5B | ||
| Q2 25 | $208.1M | $570.0M | ||
| Q1 25 | $271.9M | $1.1B | ||
| Q4 24 | $206.8M | $688.0M | ||
| Q3 24 | $221.4M | $2.0B | ||
| Q2 24 | $200.8M | $511.0M | ||
| Q1 24 | $274.4M | $1.1B |
| Q4 25 | $-13.7M | $-1.1B | ||
| Q3 25 | $84.3M | $1.5B | ||
| Q2 25 | $67.6M | $-321.0M | ||
| Q1 25 | $111.5M | $304.0M | ||
| Q4 24 | $18.8M | $-227.0M | ||
| Q3 24 | $87.5M | $1.2B | ||
| Q2 24 | $95.1M | $-242.0M | ||
| Q1 24 | $155.2M | $389.0M |
| Q4 25 | -0.3% | -39.4% | ||
| Q3 25 | 1.6% | 52.4% | ||
| Q2 25 | 1.3% | -11.2% | ||
| Q1 25 | 2.1% | 10.4% | ||
| Q4 24 | 0.4% | -7.4% | ||
| Q3 24 | 1.7% | 39.8% | ||
| Q2 24 | 1.9% | -8.0% | ||
| Q1 24 | 2.9% | 12.7% |
| Q4 25 | 3.6% | 59.9% | ||
| Q3 25 | 3.1% | 37.1% | ||
| Q2 25 | 2.7% | 31.1% | ||
| Q1 25 | 3.0% | 27.2% | ||
| Q4 24 | 3.7% | 29.7% | ||
| Q3 24 | 2.6% | 28.6% | ||
| Q2 24 | 2.1% | 25.0% | ||
| Q1 24 | 2.2% | 23.3% |
| Q4 25 | 1.19× | — | ||
| Q3 25 | 1.66× | — | ||
| Q2 25 | 1.39× | — | ||
| Q1 25 | 2.22× | — | ||
| Q4 24 | 1.33× | 8.09× | ||
| Q3 24 | 1.53× | — | ||
| Q2 24 | 1.81× | — | ||
| Q1 24 | 1.88× | 19.33× |
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% |
LUMN
| Large Enterprise | $758.0M | 28% |
| Wholesale | $661.0M | 24% |
| Mid Market Enterprise | $472.0M | 17% |
| Fiber Broadband | $232.0M | 8% |
| Other Broadband | $218.0M | 8% |
| Other | $184.0M | 7% |
| Voice And Other | $166.0M | 6% |
| International And Other | $77.0M | 3% |
