vs
Builders FirstSource（BLDR）与Lowe's（LOW）财务数据对比。点击上方公司名可切换其他公司
Lowe's的季度营收约是Builders FirstSource的6.2倍（$20.8B vs $3.4B），Lowe's净利率更高（7.8% vs 0.9%，领先6.8%），Lowe's同比增速更快（3.2% vs -12.1%），Builders FirstSource自由现金流更多（$106.7M vs $90.0M），过去两年Builders FirstSource的营收复合增速更高（-7.1% vs -8.7%）
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。
Lowe's是美国知名家居建材零售企业，总部位于北卡罗来纳州穆尔斯维尔，主营家居改善类相关产品的线下零售业务。截至2022年10月，该公司及旗下关联业务在北美地区共运营2181家家居建材及五金门店，服务普通消费者及专业装修从业人员。
BLDR vs LOW — 直观对比
营收规模更大
LOW
是对方的6.2倍
$3.4B
营收增速更快
LOW
高出15.3%
-12.1%
净利率更高
LOW
高出6.8%
0.9%
自由现金流更多
BLDR
多$16.7M
$90.0M
两年增速更快
BLDR
近两年复合增速
-8.7%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.4B | $20.8B |
| 净利润 | $31.5M | $1.6B |
| 毛利率 | 29.8% | 34.2% |
| 营业利润率 | 1.8% | 11.9% |
| 净利率 | 0.9% | 7.8% |
| 营收同比 | -12.1% | 3.2% |
| 净利润同比 | -83.5% | -4.7% |
| 每股收益（稀释后） | $0.29 | $2.88 |
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BLDRLOW
| Q4 25 | $3.4B | $20.8B | ||
| Q3 25 | $3.9B | — | ||
| Q2 25 | $4.2B | $20.9B | ||
| Q1 25 | $3.7B | — | ||
| Q4 24 | $3.8B | $20.2B | ||
| Q3 24 | $4.2B | $23.6B | ||
| Q2 24 | $4.5B | $21.4B | ||
| Q1 24 | $3.9B | $18.6B |
净利润BLDRLOW
| Q4 25 | $31.5M | $1.6B | ||
| Q3 25 | $122.4M | — | ||
| Q2 25 | $185.0M | $1.6B | ||
| Q1 25 | $96.3M | — | ||
| Q4 24 | $190.2M | $1.7B | ||
| Q3 24 | $284.8M | $2.4B | ||
| Q2 24 | $344.1M | $1.8B | ||
| Q1 24 | $258.8M | $1.0B |
毛利率BLDRLOW
| Q4 25 | 29.8% | 34.2% | ||
| Q3 25 | 30.4% | — | ||
| Q2 25 | 30.7% | 33.4% | ||
| Q1 25 | 30.5% | — | ||
| Q4 24 | 32.3% | 33.7% | ||
| Q3 24 | 32.8% | 33.5% | ||
| Q2 24 | 32.8% | 33.2% | ||
| Q1 24 | 33.4% | 32.4% |
营业利润率BLDRLOW
| Q4 25 | 1.8% | 11.9% | ||
| Q3 25 | 5.8% | — | ||
| Q2 25 | 7.4% | 11.9% | ||
| Q1 25 | 5.0% | — | ||
| Q4 24 | 8.0% | 12.6% | ||
| Q3 24 | 10.1% | 14.6% | ||
| Q2 24 | 11.0% | 12.4% | ||
| Q1 24 | 9.6% | 9.1% |
净利率BLDRLOW
| Q4 25 | 0.9% | 7.8% | ||
| Q3 25 | 3.1% | — | ||
| Q2 25 | 4.4% | 7.8% | ||
| Q1 25 | 2.6% | — | ||
| Q4 24 | 5.0% | 8.4% | ||
| Q3 24 | 6.7% | 10.1% | ||
| Q2 24 | 7.7% | 8.2% | ||
| Q1 24 | 6.7% | 5.5% |
每股收益（稀释后）BLDRLOW
| Q4 25 | $0.29 | $2.88 | ||
| Q3 25 | $1.10 | — | ||
| Q2 25 | $1.66 | $2.92 | ||
| Q1 25 | $0.84 | — | ||
| Q4 24 | $1.65 | $2.99 | ||
| Q3 24 | $2.44 | $4.17 | ||
| Q2 24 | $2.87 | $3.06 | ||
| Q1 24 | $2.10 | $1.81 |
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 | $1.0B |
| 总债务越低越好 | $4.4B | $37.5B |
| 股东权益账面价值 | $4.4B | $-10.4B |
| 总资产 | $11.2B | $53.5B |
| 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BLDRLOW
| Q4 25 | $181.8M | $1.0B | ||
| Q3 25 | $296.2M | — | ||
| Q2 25 | $87.0M | $3.4B | ||
| Q1 25 | $115.4M | — | ||
| Q4 24 | $153.6M | $3.6B | ||
| Q3 24 | $328.1M | $4.7B | ||
| Q2 24 | $75.6M | $3.5B | ||
| Q1 24 | $697.5M | $1.2B |
总债务BLDRLOW
| Q4 25 | $4.4B | $37.5B | ||
| Q3 25 | $4.4B | — | ||
| Q2 25 | $4.7B | $30.5B | ||
| Q1 25 | $4.5B | — | ||
| Q4 24 | $3.7B | $32.9B | ||
| Q3 24 | $3.7B | $34.7B | ||
| Q2 24 | $3.8B | $34.6B | ||
| Q1 24 | $3.7B | $35.4B |
股东权益BLDRLOW
| Q4 25 | $4.4B | $-10.4B | ||
| Q3 25 | $4.3B | — | ||
| Q2 25 | $4.2B | $-13.3B | ||
| Q1 25 | $4.4B | — | ||
| Q4 24 | $4.3B | $-13.4B | ||
| Q3 24 | $4.4B | $-13.8B | ||
| Q2 24 | $4.3B | $-14.6B | ||
| Q1 24 | $5.0B | $-15.1B |
总资产BLDRLOW
| Q4 25 | $11.2B | $53.5B | ||
| Q3 25 | $11.4B | — | ||
| Q2 25 | $11.5B | $45.4B | ||
| Q1 25 | $11.4B | — | ||
| Q4 24 | $10.6B | $44.7B | ||
| Q3 24 | $10.9B | $44.9B | ||
| Q2 24 | $10.7B | $45.4B | ||
| Q1 24 | $11.2B | $41.8B |
负债/权益比BLDRLOW
| 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 | $687.0M |
| 自由现金流经营现金流 - 资本支出 | $106.7M | $90.0M |
| 自由现金流率自由现金流/营收 | 3.2% | 0.4% |
| 资本支出强度资本支出/营收 | 2.6% | 2.9% |
| 现金转化率经营现金流/净利润 | 6.19× | 0.43× |
| 过去12个月自由现金流最近4个季度 | $853.3M | $6.4B |
8季度趋势，按日历期对齐
经营现金流BLDRLOW
| Q4 25 | $194.8M | $687.0M | ||
| Q3 25 | $547.7M | — | ||
| Q2 25 | $341.0M | $3.4B | ||
| Q1 25 | $132.3M | — | ||
| Q4 24 | $373.5M | $1.3B | ||
| Q3 24 | $730.0M | $3.2B | ||
| Q2 24 | $452.1M | $4.3B | ||
| Q1 24 | $317.2M | $1.1B |
自由现金流BLDRLOW
| Q4 25 | $106.7M | $90.0M | ||
| Q3 25 | $461.9M | — | ||
| Q2 25 | $252.3M | $2.9B | ||
| Q1 25 | $32.4M | — | ||
| Q4 24 | $273.8M | $728.0M | ||
| Q3 24 | $630.4M | $2.7B | ||
| Q2 24 | $364.0M | $3.9B | ||
| Q1 24 | $224.0M | $488.0M |
自由现金流率BLDRLOW
| Q4 25 | 3.2% | 0.4% | ||
| Q3 25 | 11.7% | — | ||
| Q2 25 | 6.0% | 13.7% | ||
| Q1 25 | 0.9% | — | ||
| Q4 24 | 7.2% | 3.6% | ||
| Q3 24 | 14.9% | 11.6% | ||
| Q2 24 | 8.2% | 18.2% | ||
| Q1 24 | 5.8% | 2.6% |
资本支出强度BLDRLOW
| Q4 25 | 2.6% | 2.9% | ||
| Q3 25 | 2.2% | — | ||
| Q2 25 | 2.1% | 2.5% | ||
| Q1 25 | 2.7% | — | ||
| Q4 24 | 2.6% | 2.8% | ||
| Q3 24 | 2.4% | 1.8% | ||
| Q2 24 | 2.0% | 1.8% | ||
| Q1 24 | 2.4% | 3.3% |
现金转化率BLDRLOW
| Q4 25 | 6.19× | 0.43× | ||
| Q3 25 | 4.48× | — | ||
| Q2 25 | 1.84× | 2.06× | ||
| Q1 25 | 1.37× | — | ||
| Q4 24 | 1.96× | 0.77× | ||
| Q3 24 | 2.56× | 1.32× | ||
| Q2 24 | 1.31× | 2.43× | ||
| Q1 24 | 1.23× | 1.09× |
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% |
LOW
| Home Decor | $7.8B | 37% |
| Building Products | $6.9B | 33% |
| Hardlines | $5.1B | 25% |
| Services | $753.0M | 4% |
| Other | $384.0M | 2% |
