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Builders FirstSource（BLDR）与QVC INC（QVCD）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QVC INC的1.4倍（$3.4B vs $2.4B），QVC INC净利率更高（1.5% vs 0.9%，领先0.6%），QVC INC同比增速更快（-8.9% vs -12.1%），过去两年QVC INC的营收复合增速更高（7.1% 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。
QVC集团是一家美国媒体 conglomerate，由公司董事长约翰·C·马龙控股，马龙持有该集团多数有表决权股份，业务覆盖媒体相关领域，是美国颇具影响力的传媒企业集团。
BLDR vs QVCD — 直观对比
营收规模更大
BLDR
是对方的1.4倍
$2.4B
营收增速更快
QVCD
高出3.2%
-12.1%
净利率更高
QVCD
高出0.6%
0.9%
两年增速更快
QVCD
近两年复合增速
-7.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.4B | $2.4B |
| 净利润 | $31.5M | $37.0M |
| 毛利率 | 29.8% | 32.5% |
| 营业利润率 | 1.8% | 5.6% |
| 净利率 | 0.9% | 1.5% |
| 营收同比 | -12.1% | -8.9% |
| 净利润同比 | -83.5% | 103.0% |
| 每股收益（稀释后） | $0.29 | — |
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BLDRQVCD
| Q4 25 | $3.4B | $2.4B | ||
| Q3 25 | $3.9B | $2.0B | ||
| Q2 25 | $4.2B | $2.0B | ||
| Q1 25 | $3.7B | $1.9B | ||
| Q4 24 | $3.8B | $2.7B | ||
| Q3 24 | $4.2B | $2.1B | ||
| Q2 24 | $4.5B | $2.1B | ||
| Q1 24 | $3.9B | $2.1B |
净利润BLDRQVCD
| Q4 25 | $31.5M | $37.0M | ||
| Q3 25 | $122.4M | $2.0M | ||
| Q2 25 | $185.0M | $-2.2B | ||
| Q1 25 | $96.3M | $-42.0M | ||
| Q4 24 | $190.2M | $-1.2B | ||
| Q3 24 | $284.8M | $51.0M | ||
| Q2 24 | $344.1M | $53.0M | ||
| Q1 24 | $258.8M | $51.0M |
毛利率BLDRQVCD
| Q4 25 | 29.8% | 32.5% | ||
| Q3 25 | 30.4% | 33.6% | ||
| Q2 25 | 30.7% | 35.4% | ||
| Q1 25 | 30.5% | 33.3% | ||
| Q4 24 | 32.3% | 32.6% | ||
| Q3 24 | 32.8% | 34.7% | ||
| Q2 24 | 32.8% | 35.6% | ||
| Q1 24 | 33.4% | 35.0% |
营业利润率BLDRQVCD
| Q4 25 | 1.8% | 5.6% | ||
| Q3 25 | 5.8% | 4.6% | ||
| Q2 25 | 7.4% | -114.5% | ||
| Q1 25 | 5.0% | 1.5% | ||
| Q4 24 | 8.0% | -47.1% | ||
| Q3 24 | 10.1% | 7.8% | ||
| Q2 24 | 11.0% | 7.6% | ||
| Q1 24 | 9.6% | 7.4% |
净利率BLDRQVCD
| Q4 25 | 0.9% | 1.5% | ||
| Q3 25 | 3.1% | 0.1% | ||
| Q2 25 | 4.4% | -109.1% | ||
| Q1 25 | 2.6% | -2.2% | ||
| Q4 24 | 5.0% | -46.0% | ||
| Q3 24 | 6.7% | 2.4% | ||
| Q2 24 | 7.7% | 2.5% | ||
| Q1 24 | 6.7% | 2.4% |
每股收益（稀释后）BLDRQVCD
| Q4 25 | $0.29 | — | ||
| Q3 25 | $1.10 | — | ||
| Q2 25 | $1.66 | — | ||
| Q1 25 | $0.84 | — | ||
| Q4 24 | $1.65 | — | ||
| Q3 24 | $2.44 | — | ||
| Q2 24 | $2.87 | — | ||
| Q1 24 | $2.10 | — |
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 | $1.5B |
| 总债务越低越好 | $4.4B | $1.0M |
| 股东权益账面价值 | $4.4B | $1.2B |
| 总资产 | $11.2B | $8.5B |
| 负债/权益比越低杠杆越低 | 1.02× | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资BLDRQVCD
| Q4 25 | $181.8M | $1.5B | ||
| Q3 25 | $296.2M | — | ||
| Q2 25 | $87.0M | — | ||
| Q1 25 | $115.4M | — | ||
| Q4 24 | $153.6M | $297.0M | ||
| Q3 24 | $328.1M | $297.0M | ||
| Q2 24 | $75.6M | $315.0M | ||
| Q1 24 | $697.5M | $311.0M |
总债务BLDRQVCD
| Q4 25 | $4.4B | $1.0M | ||
| Q3 25 | $4.4B | $5.0B | ||
| Q2 25 | $4.7B | $4.0B | ||
| Q1 25 | $4.5B | $4.0B | ||
| Q4 24 | $3.7B | $3.3B | ||
| Q3 24 | $3.7B | $3.4B | ||
| Q2 24 | $3.8B | $3.7B | ||
| Q1 24 | $3.7B | $3.8B |
股东权益BLDRQVCD
| Q4 25 | $4.4B | $1.2B | ||
| Q3 25 | $4.3B | $1.2B | ||
| Q2 25 | $4.2B | $1.2B | ||
| Q1 25 | $4.4B | $3.3B | ||
| Q4 24 | $4.3B | $3.3B | ||
| Q3 24 | $4.4B | $4.6B | ||
| Q2 24 | $4.3B | $4.3B | ||
| Q1 24 | $5.0B | $4.2B |
总资产BLDRQVCD
| Q4 25 | $11.2B | $8.5B | ||
| Q3 25 | $11.4B | $8.3B | ||
| Q2 25 | $11.5B | $7.4B | ||
| Q1 25 | $11.4B | $9.7B | ||
| Q4 24 | $10.6B | $9.9B | ||
| Q3 24 | $10.9B | $9.9B | ||
| Q2 24 | $10.7B | $11.2B | ||
| Q1 24 | $11.2B | $11.4B |
负债/权益比BLDRQVCD
| Q4 25 | 1.02× | 0.00× | ||
| Q3 25 | 1.03× | 4.30× | ||
| Q2 25 | 1.12× | 3.42× | ||
| Q1 25 | 1.02× | 1.22× | ||
| Q4 24 | 0.86× | 1.01× | ||
| Q3 24 | 0.83× | 0.73× | ||
| Q2 24 | 0.88× | 0.87× | ||
| Q1 24 | 0.75× | 0.89× |
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 | $245.0M |
| 自由现金流经营现金流 - 资本支出 | $106.7M | — |
| 自由现金流率自由现金流/营收 | 3.2% | — |
| 资本支出强度资本支出/营收 | 2.6% | — |
| 现金转化率经营现金流/净利润 | 6.19× | 6.62× |
| 过去12个月自由现金流最近4个季度 | $853.3M | — |
8季度趋势，按日历期对齐
经营现金流BLDRQVCD
| Q4 25 | $194.8M | $245.0M | ||
| Q3 25 | $547.7M | $76.0M | ||
| Q2 25 | $341.0M | $52.0M | ||
| Q1 25 | $132.3M | $46.0M | ||
| Q4 24 | $373.5M | $189.0M | ||
| Q3 24 | $730.0M | $98.0M | ||
| Q2 24 | $452.1M | $164.0M | ||
| Q1 24 | $317.2M | $84.0M |
自由现金流BLDRQVCD
| Q4 25 | $106.7M | — | ||
| Q3 25 | $461.9M | — | ||
| Q2 25 | $252.3M | — | ||
| Q1 25 | $32.4M | — | ||
| Q4 24 | $273.8M | — | ||
| Q3 24 | $630.4M | — | ||
| Q2 24 | $364.0M | — | ||
| Q1 24 | $224.0M | — |
自由现金流率BLDRQVCD
| Q4 25 | 3.2% | — | ||
| Q3 25 | 11.7% | — | ||
| Q2 25 | 6.0% | — | ||
| Q1 25 | 0.9% | — | ||
| Q4 24 | 7.2% | — | ||
| Q3 24 | 14.9% | — | ||
| Q2 24 | 8.2% | — | ||
| Q1 24 | 5.8% | — |
资本支出强度BLDRQVCD
| Q4 25 | 2.6% | — | ||
| Q3 25 | 2.2% | — | ||
| Q2 25 | 2.1% | — | ||
| Q1 25 | 2.7% | — | ||
| Q4 24 | 2.6% | — | ||
| Q3 24 | 2.4% | — | ||
| Q2 24 | 2.0% | — | ||
| Q1 24 | 2.4% | — |
现金转化率BLDRQVCD
| Q4 25 | 6.19× | 6.62× | ||
| Q3 25 | 4.48× | 38.00× | ||
| Q2 25 | 1.84× | — | ||
| Q1 25 | 1.37× | — | ||
| Q4 24 | 1.96× | — | ||
| Q3 24 | 2.56× | 1.92× | ||
| Q2 24 | 1.31× | 3.09× | ||
| Q1 24 | 1.23× | 1.65× |
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% |
QVCD
| Home | $754.0M | 31% |
| QVC International | $661.0M | 27% |
| Beauty | $260.0M | 11% |
| Apparel | $254.0M | 10% |
| Electronics | $187.0M | 8% |
| Accessories | $181.0M | 7% |
| Jewelry | $87.0M | 4% |
| Otherrevenue | $38.0M | 2% |
