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博士伦（BLCO）与Deckers Brands（DECK）财务数据对比。点击上方公司名可切换其他公司
Deckers Brands的季度营收约是博士伦的1.4倍（$2.0B vs $1.4B），Deckers Brands净利率更高（24.6% vs -4.1%，领先28.7%），博士伦同比增速更快（9.8% vs 7.1%），Deckers Brands自由现金流更多（$1.0B vs $60.0M），过去两年Deckers Brands的营收复合增速更高（42.8% vs 13.1%）
博士伦是知名眼健康产品企业，总部位于加拿大安大略省沃恩市，是全球规模最大的隐形眼镜、镜片护理产品、眼科药品、人工晶体及其他眼科手术产品供应商之一。品牌1853年由验光师约翰·鲍什与合伙人亨利·朗姆在美国纽约罗切斯特创立，曾是美国历史最悠久的持续运营企业之一，2013年被整体收购。
Deckers Brands是1973年成立的美国鞋履设计与分销企业，总部位于加利福尼亚州戈利塔，由道格·奥托与卡尔·F·洛普克共同创立。公司旗下拥有UGG、Teva、Hoka等全球知名鞋履品牌，产品覆盖休闲、户外等多个领域，销往世界多地。
BLCO vs DECK — 直观对比
营收规模更大
DECK
是对方的1.4倍
$1.4B
营收增速更快
BLCO
高出2.6%
7.1%
净利率更高
DECK
高出28.7%
-4.1%
自由现金流更多
DECK
多$960.3M
$60.0M
两年增速更快
DECK
近两年复合增速
13.1%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $2.0B |
| 净利润 | $-58.0M | $481.1M |
| 毛利率 | — | 59.8% |
| 营业利润率 | 8.0% | 31.4% |
| 净利率 | -4.1% | 24.6% |
| 营收同比 | 9.8% | 7.1% |
| 净利润同比 | -1833.3% | 5.3% |
| 每股收益（稀释后） | $-0.16 | $3.33 |
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BLCODECK
| Q4 25 | $1.4B | $2.0B | ||
| Q3 25 | $1.3B | $1.4B | ||
| Q2 25 | $1.3B | $964.5M | ||
| Q1 25 | $1.1B | $1.0B | ||
| Q4 24 | $1.3B | $1.8B | ||
| Q3 24 | $1.2B | $1.3B | ||
| Q2 24 | $1.2B | $825.3M | ||
| Q1 24 | $1.1B | $959.8M |
净利润BLCODECK
| Q4 25 | $-58.0M | $481.1M | ||
| Q3 25 | $-28.0M | $268.2M | ||
| Q2 25 | $-62.0M | $139.2M | ||
| Q1 25 | $-212.0M | $151.4M | ||
| Q4 24 | $-3.0M | $456.7M | ||
| Q3 24 | $4.0M | $242.3M | ||
| Q2 24 | $-151.0M | $115.6M | ||
| Q1 24 | $-167.0M | $127.5M |
毛利率BLCODECK
| Q4 25 | — | 59.8% | ||
| Q3 25 | — | 56.2% | ||
| Q2 25 | — | 55.8% | ||
| Q1 25 | — | 56.7% | ||
| Q4 24 | — | 60.3% | ||
| Q3 24 | — | 55.9% | ||
| Q2 24 | — | 56.9% | ||
| Q1 24 | — | 56.2% |
营业利润率BLCODECK
| Q4 25 | 8.0% | 31.4% | ||
| Q3 25 | 7.4% | 22.8% | ||
| Q2 25 | -0.9% | 17.1% | ||
| Q1 25 | -7.3% | 17.0% | ||
| Q4 24 | 6.8% | 31.0% | ||
| Q3 24 | 3.6% | 23.3% | ||
| Q2 24 | 2.1% | 16.1% | ||
| Q1 24 | 0.5% | 15.0% |
净利率BLCODECK
| Q4 25 | -4.1% | 24.6% | ||
| Q3 25 | -2.2% | 18.7% | ||
| Q2 25 | -4.9% | 14.4% | ||
| Q1 25 | -18.6% | 14.8% | ||
| Q4 24 | -0.2% | 25.0% | ||
| Q3 24 | 0.3% | 18.5% | ||
| Q2 24 | -12.4% | 14.0% | ||
| Q1 24 | -15.2% | 13.3% |
每股收益（稀释后）BLCODECK
| Q4 25 | $-0.16 | $3.33 | ||
| Q3 25 | $-0.08 | $1.82 | ||
| Q2 25 | $-0.18 | $0.93 | ||
| Q1 25 | $-0.60 | $-2.78 | ||
| Q4 24 | $-0.00 | $3.00 | ||
| Q3 24 | $0.01 | $1.59 | ||
| Q2 24 | $-0.43 | $4.52 | ||
| Q1 24 | $-0.48 | $4.82 |
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 | $383.0M | $2.1B |
| 总债务越低越好 | $5.0B | — |
| 股东权益账面价值 | $6.4B | $2.6B |
| 总资产 | $14.0B | $4.1B |
| 负债/权益比越低杠杆越低 | 0.78× | — |
8季度趋势，按日历期对齐
现金及短期投资BLCODECK
| Q4 25 | $383.0M | $2.1B | ||
| Q3 25 | $310.0M | $1.4B | ||
| Q2 25 | $266.0M | $1.7B | ||
| Q1 25 | $202.0M | $1.9B | ||
| Q4 24 | $305.0M | $2.2B | ||
| Q3 24 | $329.0M | $1.2B | ||
| Q2 24 | $285.0M | $1.4B | ||
| Q1 24 | $315.0M | $1.5B |
总债务BLCODECK
| Q4 25 | $5.0B | — | ||
| Q3 25 | $5.0B | — | ||
| Q2 25 | $5.0B | — | ||
| Q1 25 | $4.8B | — | ||
| Q4 24 | $4.8B | — | ||
| Q3 24 | $4.6B | — | ||
| Q2 24 | $4.6B | — | ||
| Q1 24 | $4.6B | — |
股东权益BLCODECK
| Q4 25 | $6.4B | $2.6B | ||
| Q3 25 | $6.4B | $2.5B | ||
| Q2 25 | $6.4B | $2.5B | ||
| Q1 25 | $6.4B | $2.5B | ||
| Q4 24 | $6.5B | $2.6B | ||
| Q3 24 | $6.6B | $2.2B | ||
| Q2 24 | $6.5B | $2.1B | ||
| Q1 24 | $6.7B | $2.1B |
总资产BLCODECK
| Q4 25 | $14.0B | $4.1B | ||
| Q3 25 | $13.8B | $3.8B | ||
| Q2 25 | $13.8B | $3.8B | ||
| Q1 25 | $13.4B | $3.6B | ||
| Q4 24 | $13.5B | $4.0B | ||
| Q3 24 | $13.5B | $3.4B | ||
| Q2 24 | $13.3B | $3.3B | ||
| Q1 24 | $13.3B | $3.1B |
负债/权益比BLCODECK
| Q4 25 | 0.78× | — | ||
| Q3 25 | 0.77× | — | ||
| Q2 25 | 0.77× | — | ||
| Q1 25 | 0.76× | — | ||
| Q4 24 | 0.74× | — | ||
| Q3 24 | 0.70× | — | ||
| Q2 24 | 0.71× | — | ||
| Q1 24 | 0.69× | — |
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 | $136.0M | $1.0B |
| 自由现金流经营现金流 - 资本支出 | $60.0M | $1.0B |
| 自由现金流率自由现金流/营收 | 4.3% | 52.1% |
| 资本支出强度资本支出/营收 | 5.4% | 1.1% |
| 现金转化率经营现金流/净利润 | — | 2.17× |
| 过去12个月自由现金流最近4个季度 | $-66.0M | $929.1M |
8季度趋势，按日历期对齐
经营现金流BLCODECK
| Q4 25 | $136.0M | $1.0B | ||
| Q3 25 | $137.0M | $8.1M | ||
| Q2 25 | $35.0M | $36.1M | ||
| Q1 25 | $-25.0M | $-73.0M | ||
| Q4 24 | $22.0M | $1.1B | ||
| Q3 24 | $154.0M | $-90.5M | ||
| Q2 24 | $15.0M | $112.7M | ||
| Q1 24 | $41.0M | $-28.7M |
自由现金流BLCODECK
| Q4 25 | $60.0M | $1.0B | ||
| Q3 25 | $63.0M | $-13.9M | ||
| Q2 25 | $-54.0M | $12.2M | ||
| Q1 25 | $-135.0M | $-89.4M | ||
| Q4 24 | $-70.0M | $1.1B | ||
| Q3 24 | $94.0M | $-113.4M | ||
| Q2 24 | $-57.0M | $90.1M | ||
| Q1 24 | $-26.0M | $-44.0M |
自由现金流率BLCODECK
| Q4 25 | 4.3% | 52.1% | ||
| Q3 25 | 4.9% | -1.0% | ||
| Q2 25 | -4.2% | 1.3% | ||
| Q1 25 | -11.9% | -8.8% | ||
| Q4 24 | -5.5% | 58.6% | ||
| Q3 24 | 7.9% | -8.6% | ||
| Q2 24 | -4.7% | 10.9% | ||
| Q1 24 | -2.4% | -4.6% |
资本支出强度BLCODECK
| Q4 25 | 5.4% | 1.1% | ||
| Q3 25 | 5.8% | 1.5% | ||
| Q2 25 | 7.0% | 2.5% | ||
| Q1 25 | 9.7% | 1.6% | ||
| Q4 24 | 7.2% | 1.3% | ||
| Q3 24 | 5.0% | 1.7% | ||
| Q2 24 | 5.9% | 2.7% | ||
| Q1 24 | 6.1% | 1.6% |
现金转化率BLCODECK
| Q4 25 | — | 2.17× | ||
| Q3 25 | — | 0.03× | ||
| Q2 25 | — | 0.26× | ||
| Q1 25 | — | -0.48× | ||
| Q4 24 | — | 2.40× | ||
| Q3 24 | 38.50× | -0.37× | ||
| Q2 24 | — | 0.97× | ||
| Q1 24 | — | -0.22× |
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
BLCO
| Overthe Counter Products | $489.0M | 35% |
| Pharmaceuticals | $378.0M | 27% |
| Other | $263.0M | 19% |
| Surgical | $249.0M | 18% |
| Brandedand Other Generic Products | $14.0M | 1% |
| Other Revenues | $3.0M | 0% |
| Pharmaceutical Products | $2.0M | 0% |
DECK
| UGG Brand Segment | $1.3B | 67% |
| Hoka Brand Segment | $628.9M | 32% |
| Other Brands Segment | $23.2M | 1% |
