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Builders FirstSource（BLDR）与Constellation Brands（STZ）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Constellation Brands的1.5倍（$3.4B vs $2.2B），Constellation Brands净利率更高（22.6% vs 0.9%，领先21.7%），Constellation Brands同比增速更快（-9.8% vs -12.1%），Constellation Brands自由现金流更多（$370.9M vs $106.7M），过去两年Constellation Brands的营收复合增速更高（1.9% 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。
Constellation Brands, Inc.是总部位于美国纽约州罗切斯特的《财富》500强企业，主营啤酒、葡萄酒及烈酒的生产与营销，按销售额计算是美国最大的啤酒进口商，在全美主要啤酒供应商中市场份额位列第三。公司还通过与Canopy Growth合作在医用及娱乐大麻领域有大额投资，现有约40处设施、近9000名员工。
BLDR vs STZ — 直观对比
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.4B | $2.2B |
| 净利润 | $31.5M | $502.8M |
| 毛利率 | 29.8% | 53.2% |
| 营业利润率 | 1.8% | 31.1% |
| 净利率 | 0.9% | 22.6% |
| 营收同比 | -12.1% | -9.8% |
| 净利润同比 | -83.5% | -18.4% |
| 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
| Q4 25 | $3.4B | $2.2B | ||
| Q3 25 | $3.9B | $2.5B | ||
| Q2 25 | $4.2B | $2.5B | ||
| Q1 25 | $3.7B | $2.2B | ||
| Q4 24 | $3.8B | $2.5B | ||
| Q3 24 | $4.2B | $2.9B | ||
| Q2 24 | $4.5B | $2.7B | ||
| Q1 24 | $3.9B | $2.1B |
| Q4 25 | $31.5M | $502.8M | ||
| Q3 25 | $122.4M | $466.0M | ||
| Q2 25 | $185.0M | $516.1M | ||
| Q1 25 | $96.3M | $-375.3M | ||
| Q4 24 | $190.2M | $615.9M | ||
| Q3 24 | $284.8M | $-1.2B | ||
| Q2 24 | $344.1M | $877.0M | ||
| Q1 24 | $258.8M | $392.4M |
| Q4 25 | 29.8% | 53.2% | ||
| Q3 25 | 30.4% | 52.8% | ||
| Q2 25 | 30.7% | 50.4% | ||
| Q1 25 | 30.5% | 51.5% | ||
| Q4 24 | 32.3% | 52.1% | ||
| Q3 24 | 32.8% | 51.8% | ||
| Q2 24 | 32.8% | 52.7% | ||
| Q1 24 | 33.4% | 48.6% |
| Q4 25 | 1.8% | 31.1% | ||
| Q3 25 | 5.8% | 35.2% | ||
| Q2 25 | 7.4% | 28.4% | ||
| Q1 25 | 5.0% | -6.9% | ||
| Q4 24 | 8.0% | 32.2% | ||
| Q3 24 | 10.1% | -42.1% | ||
| Q2 24 | 11.0% | 35.4% | ||
| Q1 24 | 9.6% | 29.4% |
| Q4 25 | 0.9% | 22.6% | ||
| Q3 25 | 3.1% | 18.8% | ||
| Q2 25 | 4.4% | 20.5% | ||
| Q1 25 | 2.6% | -17.3% | ||
| Q4 24 | 5.0% | 25.0% | ||
| Q3 24 | 6.7% | -41.1% | ||
| Q2 24 | 7.7% | 32.9% | ||
| Q1 24 | 6.7% | 18.3% |
| 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 | $152.4M |
| 总债务越低越好 | $4.4B | $10.3B |
| 股东权益账面价值 | $4.4B | $7.7B |
| 总资产 | $11.2B | $21.7B |
| 负债/权益比越低杠杆越低 | 1.02× | 1.33× |
8季度趋势，按日历期对齐
| Q4 25 | $181.8M | $152.4M | ||
| Q3 25 | $296.2M | $72.0M | ||
| Q2 25 | $87.0M | $73.9M | ||
| Q1 25 | $115.4M | $68.1M | ||
| Q4 24 | $153.6M | $73.7M | ||
| Q3 24 | $328.1M | $64.6M | ||
| Q2 24 | $75.6M | $73.8M | ||
| Q1 24 | $697.5M | $152.4M |
| Q4 25 | $4.4B | $10.3B | ||
| Q3 25 | $4.4B | $10.3B | ||
| Q2 25 | $4.7B | $11.2B | ||
| Q1 25 | $4.5B | $10.7B | ||
| Q4 24 | $3.7B | $10.7B | ||
| Q3 24 | $3.7B | $11.1B | ||
| Q2 24 | $3.8B | $11.1B | ||
| Q1 24 | $3.7B | $11.6B |
| Q4 25 | $4.4B | $7.7B | ||
| Q3 25 | $4.3B | $7.5B | ||
| Q2 25 | $4.2B | $7.3B | ||
| Q1 25 | $4.4B | $6.9B | ||
| Q4 24 | $4.3B | $7.8B | ||
| Q3 24 | $4.4B | $7.9B | ||
| Q2 24 | $4.3B | $10.3B | ||
| Q1 24 | $5.0B | $9.7B |
| Q4 25 | $11.2B | $21.7B | ||
| Q3 25 | $11.4B | $21.4B | ||
| Q2 25 | $11.5B | $22.3B | ||
| Q1 25 | $11.4B | $21.7B | ||
| Q4 24 | $10.6B | $22.8B | ||
| Q3 24 | $10.9B | $23.1B | ||
| Q2 24 | $10.7B | $26.1B | ||
| Q1 24 | $11.2B | $25.7B |
| Q4 25 | 1.02× | 1.33× | ||
| Q3 25 | 1.03× | 1.37× | ||
| Q2 25 | 1.12× | 1.54× | ||
| Q1 25 | 1.02× | 1.55× | ||
| Q4 24 | 0.86× | 1.37× | ||
| Q3 24 | 0.83× | 1.41× | ||
| Q2 24 | 0.88× | 1.08× | ||
| Q1 24 | 0.75× | 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 | $194.8M | $616.9M |
| 自由现金流经营现金流 - 资本支出 | $106.7M | $370.9M |
| 自由现金流率自由现金流/营收 | 3.2% | 16.7% |
| 资本支出强度资本支出/营收 | 2.6% | 11.1% |
| 现金转化率经营现金流/净利润 | 6.19× | 1.23× |
| 过去12个月自由现金流最近4个季度 | $853.3M | $1.8B |
8季度趋势，按日历期对齐
| Q4 25 | $194.8M | $616.9M | ||
| Q3 25 | $547.7M | $852.1M | ||
| Q2 25 | $341.0M | $637.2M | ||
| Q1 25 | $132.3M | $594.7M | ||
| Q4 24 | $373.5M | $685.2M | ||
| Q3 24 | $730.0M | $1.2B | ||
| Q2 24 | $452.1M | $690.5M | ||
| Q1 24 | $317.2M | $433.2M |
| Q4 25 | $106.7M | $370.9M | ||
| Q3 25 | $461.9M | $634.8M | ||
| Q2 25 | $252.3M | $444.4M | ||
| Q1 25 | $32.4M | $312.1M | ||
| Q4 24 | $273.8M | $456.8M | ||
| Q3 24 | $630.4M | $854.0M | ||
| Q2 24 | $364.0M | $315.2M | ||
| Q1 24 | $224.0M | $76.0M |
| Q4 25 | 3.2% | 16.7% | ||
| Q3 25 | 11.7% | 25.6% | ||
| Q2 25 | 6.0% | 17.7% | ||
| Q1 25 | 0.9% | 14.4% | ||
| Q4 24 | 7.2% | 18.5% | ||
| Q3 24 | 14.9% | 29.3% | ||
| Q2 24 | 8.2% | 11.8% | ||
| Q1 24 | 5.8% | 3.6% |
| Q4 25 | 2.6% | 11.1% | ||
| Q3 25 | 2.2% | 8.8% | ||
| Q2 25 | 2.1% | 7.7% | ||
| Q1 25 | 2.7% | 13.1% | ||
| Q4 24 | 2.6% | 9.3% | ||
| Q3 24 | 2.4% | 11.2% | ||
| Q2 24 | 2.0% | 14.1% | ||
| Q1 24 | 2.4% | 16.7% |
| Q4 25 | 6.19× | 1.23× | ||
| Q3 25 | 4.48× | 1.83× | ||
| Q2 25 | 1.84× | 1.23× | ||
| Q1 25 | 1.37× | — | ||
| Q4 24 | 1.96× | 1.11× | ||
| Q3 24 | 2.56× | — | ||
| Q2 24 | 1.31× | 0.79× | ||
| Q1 24 | 1.23× | 1.10× |
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% |
STZ
| Beer | $2.0B | 90% |
| Constellation Wines And Spirits | $213.1M | 10% |
