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TopBuild Corp（BLD）与Zscaler, Inc.（ZS）财务数据对比。点击上方公司名可切换其他公司
TopBuild Corp的季度营收约是Zscaler, Inc.的1.9倍（$1.5B vs $788.1M），TopBuild Corp净利率更高（7.0% vs -1.5%，领先8.5%），Zscaler, Inc.同比增速更快（25.5% vs 13.2%），Zscaler, Inc.自由现金流更多（$431.0M vs $159.4M），过去两年Zscaler, Inc.的营收复合增速更高（22.5% vs 7.8%）
HashiCorp是总部位于美国加利福尼亚州旧金山的软件企业，2012年由米切尔·桥本与阿蒙·达德加创立，采用免费增值商业模式，为开发、运维及安全从业人员提供云基础设施配置、防护、运行与连接相关的工具及产品。
Zscaler是总部位于美国加利福尼亚州圣何塞的云安全企业，专注提供云原生安全服务，为全球各行业企业的网络系统与数据资产提供全方位防护，助力企业在数字化运营过程中抵御各类安全风险，保障业务稳定开展。
BLD vs ZS — 直观对比
营收规模更大
BLD
是对方的1.9倍
$788.1M
营收增速更快
ZS
高出12.3%
13.2%
净利率更高
BLD
高出8.5%
-1.5%
自由现金流更多
ZS
多$271.6M
$159.4M
两年增速更快
ZS
近两年复合增速
7.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.5B | $788.1M |
| 净利润 | $104.5M | $-11.6M |
| 毛利率 | 27.2% | 76.6% |
| 营业利润率 | 12.1% | -4.6% |
| 净利率 | 7.0% | -1.5% |
| 营收同比 | 13.2% | 25.5% |
| 净利润同比 | -30.6% | 3.6% |
| 每股收益（稀释后） | $3.69 | $-0.07 |
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BLDZS
| Q4 25 | $1.5B | $788.1M | ||
| Q3 25 | $1.4B | $719.2M | ||
| Q2 25 | $1.3B | $678.0M | ||
| Q1 25 | $1.2B | $647.9M | ||
| Q4 24 | $1.3B | $628.0M | ||
| Q3 24 | $1.4B | $592.9M | ||
| Q2 24 | $1.4B | $553.2M | ||
| Q1 24 | $1.3B | $525.0M |
净利润BLDZS
| Q4 25 | $104.5M | $-11.6M | ||
| Q3 25 | $142.2M | $-17.6M | ||
| Q2 25 | $151.6M | $-4.1M | ||
| Q1 25 | $123.4M | $-7.7M | ||
| Q4 24 | $150.5M | $-12.1M | ||
| Q3 24 | $169.0M | $-14.9M | ||
| Q2 24 | $150.7M | $19.1M | ||
| Q1 24 | $152.4M | $-28.5M |
毛利率BLDZS
| Q4 25 | 27.2% | 76.6% | ||
| Q3 25 | 30.1% | 76.1% | ||
| Q2 25 | 30.4% | 77.0% | ||
| Q1 25 | 28.5% | 77.1% | ||
| Q4 24 | 29.9% | 77.5% | ||
| Q3 24 | 30.7% | 78.0% | ||
| Q2 24 | 31.0% | 78.6% | ||
| Q1 24 | 30.3% | 77.7% |
营业利润率BLDZS
| Q4 25 | 12.1% | -4.6% | ||
| Q3 25 | 15.4% | -4.5% | ||
| Q2 25 | 16.9% | -3.7% | ||
| Q1 25 | 14.4% | -6.2% | ||
| Q4 24 | 16.6% | -4.9% | ||
| Q3 24 | 17.8% | -4.5% | ||
| Q2 24 | 15.4% | -0.5% | ||
| Q1 24 | 16.8% | -8.7% |
净利率BLDZS
| Q4 25 | 7.0% | -1.5% | ||
| Q3 25 | 10.2% | -2.4% | ||
| Q2 25 | 11.7% | -0.6% | ||
| Q1 25 | 10.0% | -1.2% | ||
| Q4 24 | 11.5% | -1.9% | ||
| Q3 24 | 12.3% | -2.5% | ||
| Q2 24 | 11.0% | 3.5% | ||
| Q1 24 | 11.9% | -5.4% |
每股收益（稀释后）BLDZS
| Q4 25 | $3.69 | $-0.07 | ||
| Q3 25 | $5.04 | $-0.11 | ||
| Q2 25 | $5.32 | $-0.03 | ||
| Q1 25 | $4.23 | $-0.05 | ||
| Q4 24 | $5.07 | $-0.08 | ||
| Q3 24 | $5.65 | $-0.09 | ||
| Q2 24 | $4.78 | $0.12 | ||
| Q1 24 | $4.79 | $-0.19 |
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 | $184.7M | $1.3B |
| 总债务越低越好 | $2.8B | — |
| 股东权益账面价值 | $2.3B | $2.0B |
| 总资产 | $6.6B | $6.5B |
| 负债/权益比越低杠杆越低 | 1.23× | — |
8季度趋势，按日历期对齐
现金及短期投资BLDZS
| Q4 25 | $184.7M | $1.3B | ||
| Q3 25 | $1.1B | $2.4B | ||
| Q2 25 | $842.5M | $2.0B | ||
| Q1 25 | $308.8M | $1.8B | ||
| Q4 24 | $400.3M | $1.6B | ||
| Q3 24 | $257.3M | $1.4B | ||
| Q2 24 | $463.2M | $1.3B | ||
| Q1 24 | $968.8M | $1.4B |
总债务BLDZS
| Q4 25 | $2.8B | — | ||
| Q3 25 | $2.9B | — | ||
| Q2 25 | $1.9B | $1.1B | ||
| Q1 25 | $1.4B | $1.1B | ||
| Q4 24 | $1.4B | $1.1B | ||
| Q3 24 | $1.4B | $1.1B | ||
| Q2 24 | $1.4B | $1.1B | ||
| Q1 24 | $1.4B | $1.1B |
股东权益BLDZS
| Q4 25 | $2.3B | $2.0B | ||
| Q3 25 | $2.2B | $1.8B | ||
| Q2 25 | $2.1B | $1.8B | ||
| Q1 25 | $2.1B | $1.6B | ||
| Q4 24 | $2.2B | $1.4B | ||
| Q3 24 | $2.1B | $1.3B | ||
| Q2 24 | $2.4B | $1.1B | ||
| Q1 24 | $2.7B | $958.9M |
总资产BLDZS
| Q4 25 | $6.6B | $6.5B | ||
| Q3 25 | $6.4B | $6.4B | ||
| Q2 25 | $5.1B | $5.3B | ||
| Q1 25 | $4.6B | $5.0B | ||
| Q4 24 | $4.7B | $4.7B | ||
| Q3 24 | $4.7B | $4.7B | ||
| Q2 24 | $4.9B | $4.2B | ||
| Q1 24 | $5.3B | $3.9B |
负债/权益比BLDZS
| Q4 25 | 1.23× | — | ||
| Q3 25 | 1.29× | — | ||
| Q2 25 | 0.88× | 0.64× | ||
| Q1 25 | 0.65× | 0.71× | ||
| Q4 24 | 0.62× | 0.80× | ||
| Q3 24 | 0.66× | 0.90× | ||
| Q2 24 | 0.59× | 1.04× | ||
| Q1 24 | 0.52× | 1.19× |
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 | $176.7M | $448.3M |
| 自由现金流经营现金流 - 资本支出 | $159.4M | $431.0M |
| 自由现金流率自由现金流/营收 | 10.7% | 54.7% |
| 资本支出强度资本支出/营收 | 1.2% | 2.2% |
| 现金转化率经营现金流/净利润 | 1.69× | — |
| 过去12个月自由现金流最近4个季度 | $696.9M | $924.9M |
8季度趋势，按日历期对齐
经营现金流BLDZS
| Q4 25 | $176.7M | $448.3M | ||
| Q3 25 | $233.3M | $250.6M | ||
| Q2 25 | $193.7M | $211.1M | ||
| Q1 25 | $152.6M | $179.4M | ||
| Q4 24 | $266.2M | $331.3M | ||
| Q3 24 | $240.7M | $203.6M | ||
| Q2 24 | $90.4M | $173.4M | ||
| Q1 24 | $178.8M | $142.1M |
自由现金流BLDZS
| Q4 25 | $159.4M | $431.0M | ||
| Q3 25 | $216.2M | $190.6M | ||
| Q2 25 | $182.2M | $138.9M | ||
| Q1 25 | $139.2M | $164.4M | ||
| Q4 24 | $253.7M | $314.3M | ||
| Q3 24 | $219.8M | $154.2M | ||
| Q2 24 | $74.3M | $137.8M | ||
| Q1 24 | $158.9M | $111.2M |
自由现金流率BLDZS
| Q4 25 | 10.7% | 54.7% | ||
| Q3 25 | 15.5% | 26.5% | ||
| Q2 25 | 14.0% | 20.5% | ||
| Q1 25 | 11.3% | 25.4% | ||
| Q4 24 | 19.3% | 50.1% | ||
| Q3 24 | 16.0% | 26.0% | ||
| Q2 24 | 5.4% | 24.9% | ||
| Q1 24 | 12.4% | 21.2% |
资本支出强度BLDZS
| Q4 25 | 1.2% | 2.2% | ||
| Q3 25 | 1.2% | 8.3% | ||
| Q2 25 | 0.9% | 10.6% | ||
| Q1 25 | 1.1% | 2.3% | ||
| Q4 24 | 1.0% | 2.7% | ||
| Q3 24 | 1.5% | 8.3% | ||
| Q2 24 | 1.2% | 6.4% | ||
| Q1 24 | 1.6% | 5.9% |
现金转化率BLDZS
| Q4 25 | 1.69× | — | ||
| Q3 25 | 1.64× | — | ||
| Q2 25 | 1.28× | — | ||
| Q1 25 | 1.24× | — | ||
| Q4 24 | 1.77× | — | ||
| Q3 24 | 1.42× | — | ||
| Q2 24 | 0.60× | 9.07× | ||
| Q1 24 | 1.17× | — |
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
BLD
| Distribution Segment | $755.4M | 51% |
| Residential | $557.9M | 38% |
| All Other Products | $91.9M | 6% |
| Glass And Windows | $51.5M | 3% |
| Rain Gutters | $27.1M | 2% |
ZS
暂无分部数据
