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BJ's Wholesale Club Holdings, Inc.（BJ）与史密斯菲尔德食品（SFD）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.的季度营收约是史密斯菲尔德食品的1.4倍（$5.3B vs $3.8B），史密斯菲尔德食品净利率更高（6.6% vs 2.8%，领先3.7%），BJ's Wholesale Club Holdings, Inc.同比增速更快（4.9% vs 0.8%），过去两年史密斯菲尔德食品的营收复合增速更高（5.5% 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。
史密斯菲尔德食品是全球规模最大的生猪养殖与猪肉加工企业，1936年由卢特父子创立，总部位于美国弗吉尼亚州史密斯菲尔德，现隶属于香港企业。公司在美国自营超500个农场，还与2000余家独立农场合作养殖生猪，业务覆盖墨西哥、波兰、德国等多个海外市场。
BJ vs SFD — 直观对比
营收规模更大
BJ
是对方的1.4倍
$3.8B
营收增速更快
BJ
高出4.1%
0.8%
净利率更高
SFD
高出3.7%
2.8%
两年增速更快
SFD
近两年复合增速
-0.1%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $5.3B | $3.8B |
| 净利润 | $152.1M | $249.0M |
| 毛利率 | 19.0% | 13.4% |
| 营业利润率 | 4.1% | 8.8% |
| 净利率 | 2.8% | 6.6% |
| 营收同比 | 4.9% | 0.8% |
| 净利润同比 | -2.4% | 9.7% |
| 每股收益（稀释后） | $1.15 | — |
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BJSFD
| Q1 26 | — | $3.8B | ||
| Q4 25 | $5.3B | $4.2B | ||
| Q3 25 | $5.4B | $3.7B | ||
| Q2 25 | $5.2B | $3.8B | ||
| Q1 25 | $5.3B | $3.8B | ||
| Q4 24 | $5.1B | $4.0B | ||
| Q3 24 | $5.2B | $3.3B | ||
| Q2 24 | $4.9B | $3.4B |
净利润BJSFD
| Q1 26 | — | $249.0M | ||
| Q4 25 | $152.1M | $327.0M | ||
| Q3 25 | $150.7M | $248.0M | ||
| Q2 25 | $149.8M | $188.0M | ||
| Q1 25 | $122.7M | $224.0M | ||
| Q4 24 | $155.7M | $205.0M | ||
| Q3 24 | $145.0M | $291.0M | ||
| Q2 24 | $111.0M | $301.0M |
毛利率BJSFD
| Q1 26 | — | 13.4% | ||
| Q4 25 | 19.0% | 14.2% | ||
| Q3 25 | 18.7% | 12.8% | ||
| Q2 25 | 18.8% | 13.2% | ||
| Q1 25 | 18.0% | 13.5% | ||
| Q4 24 | 19.1% | 13.5% | ||
| Q3 24 | 18.4% | 14.3% | ||
| Q2 24 | 18.0% | 15.4% |
营业利润率BJSFD
| Q1 26 | — | 8.8% | ||
| Q4 25 | 4.1% | 9.5% | ||
| Q3 25 | 4.0% | 8.3% | ||
| Q2 25 | 4.0% | 6.9% | ||
| Q1 25 | 3.4% | 8.5% | ||
| Q4 24 | 4.5% | 8.5% | ||
| Q3 24 | 3.9% | 8.5% | ||
| Q2 24 | 3.3% | 9.8% |
净利率BJSFD
| Q1 26 | — | 6.6% | ||
| Q4 25 | 2.8% | 7.7% | ||
| Q3 25 | 2.8% | 6.6% | ||
| Q2 25 | 2.9% | 5.0% | ||
| Q1 25 | 2.3% | 5.9% | ||
| Q4 24 | 3.1% | 5.2% | ||
| Q3 24 | 2.8% | 8.7% | ||
| Q2 24 | 2.3% | 8.8% |
每股收益（稀释后）BJSFD
| Q1 26 | — | — | ||
| Q4 25 | $1.15 | $0.83 | ||
| Q3 25 | $1.14 | $0.63 | ||
| Q2 25 | $1.13 | $0.48 | ||
| Q1 25 | $0.92 | $0.57 | ||
| Q4 24 | $1.17 | $0.54 | ||
| Q3 24 | $1.08 | $0.77 | ||
| Q2 24 | $0.83 | $0.79 |
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 | $1.4B |
| 总债务越低越好 | $399.0M | — |
| 股东权益账面价值 | $2.2B | $6.9B |
| 总资产 | $7.5B | $12.0B |
| 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BJSFD
| Q1 26 | — | $1.4B | ||
| 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BJSFD
| Q1 26 | — | — | ||
| Q4 25 | $399.0M | $2.0B | ||
| Q3 25 | $399.0M | $2.0B | ||
| Q2 25 | $398.9M | $2.0B | ||
| Q1 25 | $398.8M | $2.0B | ||
| Q4 24 | $398.7M | $2.0B | ||
| Q3 24 | $398.6M | — | ||
| Q2 24 | $398.5M | — |
股东权益BJSFD
| Q1 26 | — | $6.9B | ||
| Q4 25 | $2.2B | $6.8B | ||
| Q3 25 | $2.1B | $6.5B | ||
| Q2 25 | $2.0B | $6.3B | ||
| Q1 25 | $1.8B | $6.2B | ||
| Q4 24 | $1.8B | $5.8B | ||
| Q3 24 | $1.7B | — | ||
| Q2 24 | $1.5B | — |
总资产BJSFD
| Q1 26 | — | $12.0B | ||
| Q4 25 | $7.5B | $12.2B | ||
| Q3 25 | $7.2B | $11.5B | ||
| Q2 25 | $7.2B | $11.2B | ||
| Q1 25 | $7.1B | $11.1B | ||
| Q4 24 | $7.2B | $11.1B | ||
| Q3 24 | $6.9B | — | ||
| Q2 24 | $6.8B | — |
负债/权益比BJSFD
| Q1 26 | — | — | ||
| Q4 25 | 0.18× | 0.29× | ||
| Q3 25 | 0.19× | 0.31× | ||
| Q2 25 | 0.20× | 0.32× | ||
| Q1 25 | 0.22× | 0.32× | ||
| Q4 24 | 0.23× | 0.34× | ||
| 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% | 2.3% |
| 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 | — |
8季度趋势，按日历期对齐
经营现金流BJSFD
| Q1 26 | — | — | ||
| Q4 25 | $181.1M | $938.0M | ||
| Q3 25 | $249.9M | $13.0M | ||
| Q2 25 | $208.1M | $274.0M | ||
| Q1 25 | $271.9M | $-166.0M | ||
| Q4 24 | $206.8M | — | ||
| Q3 24 | $221.4M | — | ||
| Q2 24 | $200.8M | — |
自由现金流BJSFD
| Q1 26 | — | — | ||
| Q4 25 | $-13.7M | $842.0M | ||
| Q3 25 | $84.3M | $-75.0M | ||
| Q2 25 | $67.6M | $196.0M | ||
| Q1 25 | $111.5M | $-245.0M | ||
| Q4 24 | $18.8M | — | ||
| Q3 24 | $87.5M | — | ||
| Q2 24 | $95.1M | — |
自由现金流率BJSFD
| Q1 26 | — | — | ||
| Q4 25 | -0.3% | 19.9% | ||
| Q3 25 | 1.6% | -2.0% | ||
| Q2 25 | 1.3% | 5.2% | ||
| Q1 25 | 2.1% | -6.5% | ||
| Q4 24 | 0.4% | — | ||
| Q3 24 | 1.7% | — | ||
| Q2 24 | 1.9% | — |
资本支出强度BJSFD
| Q1 26 | — | 2.3% | ||
| Q4 25 | 3.6% | 2.3% | ||
| Q3 25 | 3.1% | 2.3% | ||
| Q2 25 | 2.7% | 2.1% | ||
| Q1 25 | 3.0% | 2.1% | ||
| Q4 24 | 3.7% | 2.1% | ||
| Q3 24 | 2.6% | 2.8% | ||
| Q2 24 | 2.1% | 2.3% |
现金转化率BJSFD
| Q1 26 | — | — | ||
| Q4 25 | 1.19× | 2.87× | ||
| Q3 25 | 1.66× | 0.05× | ||
| Q2 25 | 1.39× | 1.46× | ||
| Q1 25 | 2.22× | -0.74× | ||
| Q4 24 | 1.33× | — | ||
| Q3 24 | 1.53× | — | ||
| Q2 24 | 1.81× | — |
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% |
SFD
暂无分部数据
