vs
Builders FirstSource（BLDR）与高德纳（IT）财务数据对比。点击上方公司名可切换其他公司
Builders FirstSource的季度营收约是高德纳的1.9倍（$3.4B vs $1.8B），高德纳净利率更高（13.8% vs 0.9%，领先12.9%），高德纳同比增速更快（2.2% vs -12.1%），高德纳自由现金流更多（$270.7M vs $106.7M），过去两年高德纳的营收复合增速更高（9.1% vs -7.1%）
Builders FirstSource是财富500强企业，成立于1998年3月，总部位于美国得克萨斯州欧文，是美国规模最大的建筑产品、预制构件及增值服务供应商，同时生产制造建筑材料。公司在全美拥有超1.5万名员工，服务于新建住宅施工、维修及翻新领域的专业客户。
高德纳是美国专注于商业与科技领域的研究咨询机构，服务客户覆盖大型企业、政府机构、科技公司、投资机构等群体，通过输出研究报告、举办行业峰会、提供定制咨询等形式，为客户决策提供权威专业的洞见支撑。
BLDR vs IT — 直观对比
营收规模更大
BLDR
是对方的1.9倍
$1.8B
营收增速更快
IT
高出14.3%
-12.1%
净利率更高
IT
高出12.9%
0.9%
自由现金流更多
IT
多$164.0M
$106.7M
两年增速更快
IT
近两年复合增速
-7.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.4B | $1.8B |
| 净利润 | $31.5M | $242.2M |
| 毛利率 | 29.8% | 67.8% |
| 营业利润率 | 1.8% | 19.1% |
| 净利率 | 0.9% | 13.8% |
| 营收同比 | -12.1% | 2.2% |
| 净利润同比 | -83.5% | -39.2% |
| 每股收益（稀释后） | $0.29 | $3.36 |
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BLDRIT
| Q4 25 | $3.4B | $1.8B | ||
| Q3 25 | $3.9B | $1.5B | ||
| Q2 25 | $4.2B | $1.7B | ||
| Q1 25 | $3.7B | $1.5B | ||
| Q4 24 | $3.8B | $1.7B | ||
| Q3 24 | $4.2B | $1.5B | ||
| Q2 24 | $4.5B | $1.6B | ||
| Q1 24 | $3.9B | $1.5B |
净利润BLDRIT
| Q4 25 | $31.5M | $242.2M | ||
| Q3 25 | $122.4M | $35.4M | ||
| Q2 25 | $185.0M | $240.8M | ||
| Q1 25 | $96.3M | $210.9M | ||
| Q4 24 | $190.2M | $398.6M | ||
| Q3 24 | $284.8M | $415.0M | ||
| Q2 24 | $344.1M | $229.5M | ||
| Q1 24 | $258.8M | $210.5M |
毛利率BLDRIT
| Q4 25 | 29.8% | 67.8% | ||
| Q3 25 | 30.4% | 69.3% | ||
| Q2 25 | 30.7% | 68.6% | ||
| Q1 25 | 30.5% | 69.4% | ||
| Q4 24 | 32.3% | 66.8% | ||
| Q3 24 | 32.8% | 68.4% | ||
| Q2 24 | 32.8% | 68.6% | ||
| Q1 24 | 33.4% | 69.4% |
营业利润率BLDRIT
| Q4 25 | 1.8% | 19.1% | ||
| Q3 25 | 5.8% | 5.7% | ||
| Q2 25 | 7.4% | 19.4% | ||
| Q1 25 | 5.0% | 18.1% | ||
| Q4 24 | 8.0% | 18.5% | ||
| Q3 24 | 10.1% | 16.6% | ||
| Q2 24 | 11.0% | 20.0% | ||
| Q1 24 | 9.6% | 18.6% |
净利率BLDRIT
| Q4 25 | 0.9% | 13.8% | ||
| Q3 25 | 3.1% | 2.3% | ||
| Q2 25 | 4.4% | 14.3% | ||
| Q1 25 | 2.6% | 13.7% | ||
| Q4 24 | 5.0% | 23.2% | ||
| Q3 24 | 6.7% | 28.0% | ||
| Q2 24 | 7.7% | 14.4% | ||
| Q1 24 | 6.7% | 14.3% |
每股收益（稀释后）BLDRIT
| Q4 25 | $0.29 | $3.36 | ||
| Q3 25 | $1.10 | $0.47 | ||
| Q2 25 | $1.66 | $3.11 | ||
| Q1 25 | $0.84 | $2.71 | ||
| Q4 24 | $1.65 | $5.08 | ||
| Q3 24 | $2.44 | $5.32 | ||
| Q2 24 | $2.87 | $2.93 | ||
| Q1 24 | $2.10 | $2.67 |
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 | $181.8M | $1.7B |
| 总债务越低越好 | $4.4B | — |
| 股东权益账面价值 | $4.4B | $319.9M |
| 总资产 | $11.2B | $8.1B |
| 负债/权益比越低杠杆越低 | 1.02× | — |
8季度趋势，按日历期对齐
现金及短期投资BLDRIT
| Q4 25 | $181.8M | $1.7B | ||
| Q3 25 | $296.2M | $1.4B | ||
| Q2 25 | $87.0M | $2.2B | ||
| Q1 25 | $115.4M | $2.1B | ||
| Q4 24 | $153.6M | $1.9B | ||
| Q3 24 | $328.1M | $1.8B | ||
| Q2 24 | $75.6M | $1.2B | ||
| Q1 24 | $697.5M | $1.2B |
总债务BLDRIT
| Q4 25 | $4.4B | — | ||
| Q3 25 | $4.4B | — | ||
| Q2 25 | $4.7B | — | ||
| Q1 25 | $4.5B | — | ||
| Q4 24 | $3.7B | — | ||
| Q3 24 | $3.7B | — | ||
| Q2 24 | $3.8B | — | ||
| Q1 24 | $3.7B | — |
股东权益BLDRIT
| Q4 25 | $4.4B | $319.9M | ||
| Q3 25 | $4.3B | $556.6M | ||
| Q2 25 | $4.2B | $1.5B | ||
| Q1 25 | $4.4B | $1.5B | ||
| Q4 24 | $4.3B | $1.4B | ||
| Q3 24 | $4.4B | $1.1B | ||
| Q2 24 | $4.3B | $646.7M | ||
| Q1 24 | $5.0B | $718.2M |
总资产BLDRIT
| Q4 25 | $11.2B | $8.1B | ||
| Q3 25 | $11.4B | $7.2B | ||
| Q2 25 | $11.5B | $8.3B | ||
| Q1 25 | $11.4B | $8.5B | ||
| Q4 24 | $10.6B | $8.5B | ||
| Q3 24 | $10.9B | $7.8B | ||
| Q2 24 | $10.7B | $7.4B | ||
| Q1 24 | $11.2B | $7.7B |
负债/权益比BLDRIT
| Q4 25 | 1.02× | — | ||
| Q3 25 | 1.03× | — | ||
| Q2 25 | 1.12× | — | ||
| Q1 25 | 1.02× | — | ||
| Q4 24 | 0.86× | — | ||
| Q3 24 | 0.83× | — | ||
| Q2 24 | 0.88× | — | ||
| Q1 24 | 0.75× | — |
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 | $194.8M | $294.5M |
| 自由现金流经营现金流 - 资本支出 | $106.7M | $270.7M |
| 自由现金流率自由现金流/营收 | 3.2% | 15.4% |
| 资本支出强度资本支出/营收 | 2.6% | 1.4% |
| 现金转化率经营现金流/净利润 | 6.19× | 1.22× |
| 过去12个月自由现金流最近4个季度 | $853.3M | $1.2B |
8季度趋势，按日历期对齐
经营现金流BLDRIT
| Q4 25 | $194.8M | $294.5M | ||
| Q3 25 | $547.7M | $298.7M | ||
| Q2 25 | $341.0M | $383.6M | ||
| Q1 25 | $132.3M | $313.5M | ||
| Q4 24 | $373.5M | $335.4M | ||
| Q3 24 | $730.0M | $590.8M | ||
| Q2 24 | $452.1M | $370.0M | ||
| Q1 24 | $317.2M | $188.8M |
自由现金流BLDRIT
| Q4 25 | $106.7M | $270.7M | ||
| Q3 25 | $461.9M | $269.3M | ||
| Q2 25 | $252.3M | $347.3M | ||
| Q1 25 | $32.4M | $287.9M | ||
| Q4 24 | $273.8M | $311.4M | ||
| Q3 24 | $630.4M | $565.0M | ||
| Q2 24 | $364.0M | $340.6M | ||
| Q1 24 | $224.0M | $166.2M |
自由现金流率BLDRIT
| Q4 25 | 3.2% | 15.4% | ||
| Q3 25 | 11.7% | 17.7% | ||
| Q2 25 | 6.0% | 20.6% | ||
| Q1 25 | 0.9% | 18.8% | ||
| Q4 24 | 7.2% | 18.2% | ||
| Q3 24 | 14.9% | 38.1% | ||
| Q2 24 | 8.2% | 21.4% | ||
| Q1 24 | 5.8% | 11.3% |
资本支出强度BLDRIT
| Q4 25 | 2.6% | 1.4% | ||
| Q3 25 | 2.2% | 1.9% | ||
| Q2 25 | 2.1% | 2.1% | ||
| Q1 25 | 2.7% | 1.7% | ||
| Q4 24 | 2.6% | 1.4% | ||
| Q3 24 | 2.4% | 1.7% | ||
| Q2 24 | 2.0% | 1.8% | ||
| Q1 24 | 2.4% | 1.5% |
现金转化率BLDRIT
| Q4 25 | 6.19× | 1.22× | ||
| Q3 25 | 4.48× | 8.45× | ||
| Q2 25 | 1.84× | 1.59× | ||
| Q1 25 | 1.37× | 1.49× | ||
| Q4 24 | 1.96× | 0.84× | ||
| Q3 24 | 2.56× | 1.42× | ||
| Q2 24 | 1.31× | 1.61× | ||
| Q1 24 | 1.23× | 0.90× |
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
BLDR
| Specialty Building Products And Services | $949.0M | 28% |
| Windows Doors And Millwork | $893.5M | 27% |
| Lumber And Lumber Sheet Goods | $772.6M | 23% |
| Manufactured Products | $742.8M | 22% |
IT
| Transferred Over Time | $1.3B | 73% |
| Conferences | $286.2M | 16% |
| Consulting | $133.6M | 8% |
| Other | $52.3M | 3% |
