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BJ's Wholesale Club Holdings, Inc.（BJ）与PG&E Corporation（PCG）财务数据对比。点击上方公司名可切换其他公司
PG&E Corporation的季度营收约是BJ's Wholesale Club Holdings, Inc.的1.3倍（$6.9B vs $5.3B），PG&E Corporation净利率更高（12.9% vs 2.8%，领先10.0%），PG&E Corporation同比增速更快（15.0% vs 4.9%），过去两年PG&E Corporation的营收复合增速更高（7.2% 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。
PG&E Corporation是美国由投资者持有运营的公用事业企业，总部坐落于加利福尼亚州奥克兰市凯撒中心，为加州北部三分之二区域的520万户家庭提供天然气与电力供应服务，服务范围涵盖贝克斯菲尔德、圣巴巴拉县北部，几乎延伸至俄勒冈州与内华达州的州界。
BJ vs PCG — 直观对比
营收规模更大
PCG
是对方的1.3倍
$5.3B
营收增速更快
PCG
高出10.1%
4.9%
净利率更高
PCG
高出10.0%
2.8%
两年增速更快
PCG
近两年复合增速
-0.1%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $5.3B | $6.9B |
| 净利润 | $152.1M | $885.0M |
| 毛利率 | 19.0% | — |
| 营业利润率 | 4.1% | 21.4% |
| 净利率 | 2.8% | 12.9% |
| 营收同比 | 4.9% | 15.0% |
| 净利润同比 | -2.4% | 39.6% |
| 每股收益（稀释后） | $1.15 | $0.39 |
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BJPCG
| Q1 26 | — | $6.9B | ||
| Q4 25 | $5.3B | $6.8B | ||
| Q3 25 | $5.4B | $6.3B | ||
| Q2 25 | $5.2B | $5.9B | ||
| Q1 25 | $5.3B | $6.0B | ||
| Q4 24 | $5.1B | $6.6B | ||
| Q3 24 | $5.2B | $5.9B | ||
| Q2 24 | $4.9B | $6.0B |
净利润BJPCG
| Q1 26 | — | $885.0M | ||
| Q4 25 | $152.1M | $670.0M | ||
| Q3 25 | $150.7M | $850.0M | ||
| Q2 25 | $149.8M | $549.0M | ||
| Q1 25 | $122.7M | $634.0M | ||
| Q4 24 | $155.7M | $674.0M | ||
| Q3 24 | $145.0M | $579.0M | ||
| Q2 24 | $111.0M | $524.0M |
毛利率BJPCG
| Q1 26 | — | — | ||
| Q4 25 | 19.0% | — | ||
| Q3 25 | 18.7% | — | ||
| Q2 25 | 18.8% | — | ||
| Q1 25 | 18.0% | — | ||
| Q4 24 | 19.1% | — | ||
| Q3 24 | 18.4% | — | ||
| Q2 24 | 18.0% | — |
营业利润率BJPCG
| Q1 26 | — | 21.4% | ||
| Q4 25 | 4.1% | 18.0% | ||
| Q3 25 | 4.0% | 19.3% | ||
| Q2 25 | 4.0% | 18.6% | ||
| Q1 25 | 3.4% | 20.4% | ||
| Q4 24 | 4.5% | 15.4% | ||
| Q3 24 | 3.9% | 17.3% | ||
| Q2 24 | 3.3% | 18.9% |
净利率BJPCG
| Q1 26 | — | 12.9% | ||
| Q4 25 | 2.8% | 9.8% | ||
| Q3 25 | 2.8% | 13.6% | ||
| Q2 25 | 2.9% | 9.3% | ||
| Q1 25 | 2.3% | 10.6% | ||
| Q4 24 | 3.1% | 10.2% | ||
| Q3 24 | 2.8% | 9.7% | ||
| Q2 24 | 2.3% | 8.8% |
每股收益（稀释后）BJPCG
| Q1 26 | — | $0.39 | ||
| Q4 25 | $1.15 | $0.29 | ||
| Q3 25 | $1.14 | $0.37 | ||
| Q2 25 | $1.13 | $0.24 | ||
| Q1 25 | $0.92 | $0.28 | ||
| Q4 24 | $1.17 | $0.30 | ||
| Q3 24 | $1.08 | $0.27 | ||
| Q2 24 | $0.83 | $0.24 |
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BJPCG
| Q1 26 | — | — | ||
| Q4 25 | $45.1M | $713.0M | ||
| Q3 25 | $47.3M | $404.0M | ||
| Q2 25 | $39.5M | $494.0M | ||
| Q1 25 | $28.3M | $2.0B | ||
| Q4 24 | $33.9M | $940.0M | ||
| Q3 24 | $38.1M | $895.0M | ||
| Q2 24 | $35.1M | $1.3B |
总债务BJPCG
| Q1 26 | — | — | ||
| Q4 25 | $399.0M | $57.4B | ||
| Q3 25 | $399.0M | — | ||
| Q2 25 | $398.9M | — | ||
| Q1 25 | $398.8M | — | ||
| Q4 24 | $398.7M | $53.6B | ||
| Q3 24 | $398.6M | — | ||
| Q2 24 | $398.5M | — |
股东权益BJPCG
| Q1 26 | — | — | ||
| Q4 25 | $2.2B | $32.5B | ||
| Q3 25 | $2.1B | $32.0B | ||
| Q2 25 | $2.0B | $31.2B | ||
| Q1 25 | $1.8B | $30.7B | ||
| Q4 24 | $1.8B | $30.1B | ||
| Q3 24 | $1.7B | $26.8B | ||
| Q2 24 | $1.5B | $26.3B |
总资产BJPCG
| Q1 26 | — | — | ||
| Q4 25 | $7.5B | $141.6B | ||
| Q3 25 | $7.2B | $138.2B | ||
| Q2 25 | $7.2B | $136.4B | ||
| Q1 25 | $7.1B | $135.4B | ||
| Q4 24 | $7.2B | $133.7B | ||
| Q3 24 | $6.9B | $132.3B | ||
| Q2 24 | $6.8B | $130.8B |
负债/权益比BJPCG
| Q1 26 | — | — | ||
| Q4 25 | 0.18× | 1.76× | ||
| Q3 25 | 0.19× | — | ||
| Q2 25 | 0.20× | — | ||
| Q1 25 | 0.22× | — | ||
| Q4 24 | 0.23× | 1.78× | ||
| Q3 24 | 0.24× | — | ||
| Q2 24 | 0.26× | — |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $-13.7M | — |
| 自由现金流率自由现金流/营收 | -0.3% | — |
| 资本支出强度资本支出/营收 | 3.6% | — |
| 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 | — |
8季度趋势，按日历期对齐
经营现金流BJPCG
| Q1 26 | — | — | ||
| Q4 25 | $181.1M | $2.0B | ||
| Q3 25 | $249.9M | $2.9B | ||
| Q2 25 | $208.1M | $1.1B | ||
| Q1 25 | $271.9M | $2.8B | ||
| Q4 24 | $206.8M | $1.9B | ||
| Q3 24 | $221.4M | $3.1B | ||
| Q2 24 | $200.8M | $711.0M |
自由现金流BJPCG
| Q1 26 | — | — | ||
| Q4 25 | $-13.7M | $-1.2B | ||
| Q3 25 | $84.3M | $-80.0M | ||
| Q2 25 | $67.6M | $-2.0B | ||
| Q1 25 | $111.5M | $213.0M | ||
| Q4 24 | $18.8M | $-896.0M | ||
| Q3 24 | $87.5M | $526.0M | ||
| Q2 24 | $95.1M | $-1.6B |
自由现金流率BJPCG
| Q1 26 | — | — | ||
| Q4 25 | -0.3% | -17.6% | ||
| Q3 25 | 1.6% | -1.3% | ||
| Q2 25 | 1.3% | -34.0% | ||
| Q1 25 | 2.1% | 3.6% | ||
| Q4 24 | 0.4% | -13.5% | ||
| Q3 24 | 1.7% | 8.9% | ||
| Q2 24 | 1.9% | -26.5% |
资本支出强度BJPCG
| Q1 26 | — | — | ||
| Q4 25 | 3.6% | 46.4% | ||
| Q3 25 | 3.1% | 46.9% | ||
| Q2 25 | 2.7% | 52.0% | ||
| Q1 25 | 3.0% | 44.0% | ||
| Q4 24 | 3.7% | 42.6% | ||
| Q3 24 | 2.6% | 43.8% | ||
| Q2 24 | 2.1% | 38.4% |
现金转化率BJPCG
| Q1 26 | — | — | ||
| Q4 25 | 1.19× | 2.93× | ||
| Q3 25 | 1.66× | 3.35× | ||
| Q2 25 | 1.39× | 1.93× | ||
| Q1 25 | 2.22× | 4.49× | ||
| Q4 24 | 1.33× | 2.87× | ||
| Q3 24 | 1.53× | 5.41× | ||
| Q2 24 | 1.81× | 1.36× |
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% |
PCG
| Electric | $5.0B | 72% |
| Other | $1.9B | 28% |
