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BJ's Wholesale Club Holdings, Inc.（BJ）与Oneok（OKE）财务数据对比。点击上方公司名可切换其他公司
Oneok的季度营收约是BJ's Wholesale Club Holdings, Inc.的1.7倍（$9.1B vs $5.3B），Oneok净利率更高（10.8% vs 2.8%，领先7.9%），Oneok同比增速更快（29.5% vs 4.9%），Oneok自由现金流更多（$576.0M vs $-13.7M），过去两年Oneok的营收复合增速更高（37.7% 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。
ONEOK是美国油气中游领域运营商，总部位于俄克拉荷马州塔尔萨，为油气行业提供收集、处理、分馏、运输及储存服务，位列财富500强及标普500指数成分股。公司前身为1906年成立的俄克拉荷马天然气公司，1980年正式更名为ONEOK。
BJ vs OKE — 直观对比
营收规模更大
OKE
是对方的1.7倍
$5.3B
营收增速更快
OKE
高出24.6%
4.9%
净利率更高
OKE
高出7.9%
2.8%
自由现金流更多
OKE
多$589.7M
$-13.7M
两年增速更快
OKE
近两年复合增速
-0.1%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $5.3B | $9.1B |
| 净利润 | $152.1M | $977.0M |
| 毛利率 | 19.0% | 29.4% |
| 营业利润率 | 4.1% | 16.9% |
| 净利率 | 2.8% | 10.8% |
| 营收同比 | 4.9% | 29.5% |
| 净利润同比 | -2.4% | 5.9% |
| 每股收益（稀释后） | $1.15 | $1.55 |
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BJOKE
| Q4 25 | $5.3B | $9.1B | ||
| Q3 25 | $5.4B | $8.6B | ||
| Q2 25 | $5.2B | $7.9B | ||
| Q1 25 | $5.3B | $8.0B | ||
| Q4 24 | $5.1B | $7.0B | ||
| Q3 24 | $5.2B | $5.0B | ||
| Q2 24 | $4.9B | $4.9B | ||
| Q1 24 | $5.4B | $4.8B |
净利润BJOKE
| Q4 25 | $152.1M | $977.0M | ||
| Q3 25 | $150.7M | $939.0M | ||
| Q2 25 | $149.8M | $841.0M | ||
| Q1 25 | $122.7M | $636.0M | ||
| Q4 24 | $155.7M | $923.0M | ||
| Q3 24 | $145.0M | $693.0M | ||
| Q2 24 | $111.0M | $780.0M | ||
| Q1 24 | $145.9M | $639.0M |
毛利率BJOKE
| Q4 25 | 19.0% | 29.4% | ||
| Q3 25 | 18.7% | 30.9% | ||
| Q2 25 | 18.8% | 32.0% | ||
| Q1 25 | 18.0% | 29.7% | ||
| Q4 24 | 19.1% | 35.8% | ||
| Q3 24 | 18.4% | 39.7% | ||
| Q2 24 | 18.0% | 40.9% | ||
| Q1 24 | 18.0% | 39.4% |
营业利润率BJOKE
| Q4 25 | 4.1% | 16.9% | ||
| Q3 25 | 4.0% | 18.0% | ||
| Q2 25 | 4.0% | 18.1% | ||
| Q1 25 | 3.4% | 15.2% | ||
| Q4 24 | 4.5% | 22.4% | ||
| Q3 24 | 3.9% | 22.5% | ||
| Q2 24 | 3.3% | 25.1% | ||
| Q1 24 | 4.0% | 22.3% |
净利率BJOKE
| Q4 25 | 2.8% | 10.8% | ||
| Q3 25 | 2.8% | 10.9% | ||
| Q2 25 | 2.9% | 10.7% | ||
| Q1 25 | 2.3% | 7.9% | ||
| Q4 24 | 3.1% | 13.2% | ||
| Q3 24 | 2.8% | 13.8% | ||
| Q2 24 | 2.3% | 15.9% | ||
| Q1 24 | 2.7% | 13.4% |
每股收益（稀释后）BJOKE
| Q4 25 | $1.15 | $1.55 | ||
| Q3 25 | $1.14 | $1.49 | ||
| Q2 25 | $1.13 | $1.34 | ||
| Q1 25 | $0.92 | $1.04 | ||
| Q4 24 | $1.17 | $1.57 | ||
| Q3 24 | $1.08 | $1.18 | ||
| Q2 24 | $0.83 | $1.33 | ||
| Q1 24 | $1.09 | $1.09 |
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 | $78.0M |
| 总债务越低越好 | $399.0M | — |
| 股东权益账面价值 | $2.2B | $22.5B |
| 总资产 | $7.5B | $66.6B |
| 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BJOKE
| Q4 25 | $45.1M | $78.0M | ||
| Q3 25 | $47.3M | $1.2B | ||
| Q2 25 | $39.5M | $97.0M | ||
| Q1 25 | $28.3M | $141.0M | ||
| Q4 24 | $33.9M | $733.0M | ||
| Q3 24 | $38.1M | $579.0M | ||
| Q2 24 | $35.1M | $36.0M | ||
| Q1 24 | $36.0M | $65.0M |
总债务BJOKE
| Q4 25 | $399.0M | — | ||
| Q3 25 | $399.0M | $33.7B | ||
| Q2 25 | $398.9M | $31.3B | ||
| Q1 25 | $398.8M | $31.8B | ||
| Q4 24 | $398.7M | $32.1B | ||
| Q3 24 | $398.6M | $28.1B | ||
| Q2 24 | $398.5M | $21.7B | ||
| Q1 24 | $398.4M | $21.7B |
股东权益BJOKE
| Q4 25 | $2.2B | $22.5B | ||
| Q3 25 | $2.1B | $22.1B | ||
| Q2 25 | $2.0B | $21.8B | ||
| Q1 25 | $1.8B | $21.4B | ||
| Q4 24 | $1.8B | $17.0B | ||
| Q3 24 | $1.7B | $16.9B | ||
| Q2 24 | $1.5B | $16.7B | ||
| Q1 24 | $1.5B | $16.4B |
总资产BJOKE
| Q4 25 | $7.5B | $66.6B | ||
| Q3 25 | $7.2B | $66.6B | ||
| Q2 25 | $7.2B | $64.5B | ||
| Q1 25 | $7.1B | $64.3B | ||
| Q4 24 | $7.2B | $64.1B | ||
| Q3 24 | $6.9B | $51.0B | ||
| Q2 24 | $6.8B | $44.5B | ||
| Q1 24 | $6.7B | $44.4B |
负债/权益比BJOKE
| Q4 25 | 0.18× | — | ||
| Q3 25 | 0.19× | 1.53× | ||
| Q2 25 | 0.20× | 1.43× | ||
| Q1 25 | 0.22× | 1.49× | ||
| Q4 24 | 0.23× | 1.88× | ||
| Q3 24 | 0.24× | 1.66× | ||
| Q2 24 | 0.26× | 1.30× | ||
| Q1 24 | 0.27× | 1.32× |
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 | $1.5B |
| 自由现金流经营现金流 - 资本支出 | $-13.7M | $576.0M |
| 自由现金流率自由现金流/营收 | -0.3% | 6.4% |
| 资本支出强度资本支出/营收 | 3.6% | 10.7% |
| 现金转化率经营现金流/净利润 | 1.19× | 1.58× |
| 过去12个月自由现金流最近4个季度 | $249.6M | $2.4B |
8季度趋势，按日历期对齐
经营现金流BJOKE
| Q4 25 | $181.1M | $1.5B | ||
| Q3 25 | $249.9M | $1.6B | ||
| Q2 25 | $208.1M | $1.5B | ||
| Q1 25 | $271.9M | $904.0M | ||
| Q4 24 | $206.8M | $1.6B | ||
| Q3 24 | $221.4M | $1.3B | ||
| Q2 24 | $200.8M | $1.4B | ||
| Q1 24 | $274.4M | $596.0M |
自由现金流BJOKE
| Q4 25 | $-13.7M | $576.0M | ||
| Q3 25 | $84.3M | $820.0M | ||
| Q2 25 | $67.6M | $776.0M | ||
| Q1 25 | $111.5M | $275.0M | ||
| Q4 24 | $18.8M | $1.0B | ||
| Q3 24 | $87.5M | $783.0M | ||
| Q2 24 | $95.1M | $951.0M | ||
| Q1 24 | $155.2M | $84.0M |
自由现金流率BJOKE
| Q4 25 | -0.3% | 6.4% | ||
| Q3 25 | 1.6% | 9.5% | ||
| Q2 25 | 1.3% | 9.8% | ||
| Q1 25 | 2.1% | 3.4% | ||
| Q4 24 | 0.4% | 15.0% | ||
| Q3 24 | 1.7% | 15.6% | ||
| Q2 24 | 1.9% | 19.4% | ||
| Q1 24 | 2.9% | 1.8% |
资本支出强度BJOKE
| Q4 25 | 3.6% | 10.7% | ||
| Q3 25 | 3.1% | 9.3% | ||
| Q2 25 | 2.7% | 9.5% | ||
| Q1 25 | 3.0% | 7.8% | ||
| Q4 24 | 3.7% | 8.0% | ||
| Q3 24 | 2.6% | 9.3% | ||
| Q2 24 | 2.1% | 9.8% | ||
| Q1 24 | 2.2% | 10.7% |
现金转化率BJOKE
| Q4 25 | 1.19× | 1.58× | ||
| Q3 25 | 1.66× | 1.73× | ||
| Q2 25 | 1.39× | 1.81× | ||
| Q1 25 | 2.22× | 1.42× | ||
| Q4 24 | 1.33× | 1.75× | ||
| Q3 24 | 1.53× | 1.81× | ||
| Q2 24 | 1.81× | 1.83× | ||
| Q1 24 | 1.88× | 0.93× |
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% |
OKE
| Natural Gas Liquids | $4.0B | 44% |
| Natural Gas Gathering And Processing | $1.8B | 20% |
| Services | $1.2B | 14% |
| Liquids Commodity | $979.0M | 11% |
| Wholly Owned Interstate Natural Gas Pipelines | $527.0M | 6% |
| Exchange Services And Natural Gas Gathering And Processing Revenue | $365.0M | 4% |
| Transportationand Storage Revenue | $108.0M | 1% |
| Other | $12.0M | 0% |
