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Builders FirstSource（BLDR）与西湖化学（WLK）财务数据对比。点击上方公司名可切换其他公司
Builders FirstSource的季度营收约是西湖化学的1.3倍（$3.4B vs $2.5B），Builders FirstSource净利率更高（0.9% vs -21.5%，领先22.4%），西湖化学同比增速更快（-10.9% vs -12.1%），Builders FirstSource自由现金流更多（$106.7M vs $-16.0M），过去两年Builders FirstSource的营收复合增速更高（-7.1% vs -7.7%）
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。
西湖化学是国际知名的石化产品、聚合物及装配式建筑产品生产商与供应商，产品广泛应用于各类消费及工业市场。公司1986年由赵廷箴创立，是美国最大的低密度聚乙烯生产商，位列福布斯全球2000强，业务分为烯烃和乙烯基两大板块，具备乙烯基产品下游一体化生产能力。
BLDR vs WLK — 直观对比
营收规模更大
BLDR
是对方的1.3倍
$2.5B
营收增速更快
WLK
高出1.2%
-12.1%
净利率更高
BLDR
高出22.4%
-21.5%
自由现金流更多
BLDR
多$122.7M
$-16.0M
两年增速更快
BLDR
近两年复合增速
-7.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.4B | $2.5B |
| 净利润 | $31.5M | $-544.0M |
| 毛利率 | 29.8% | 3.4% |
| 营业利润率 | 1.8% | -26.5% |
| 净利率 | 0.9% | -21.5% |
| 营收同比 | -12.1% | -10.9% |
| 净利润同比 | -83.5% | -7871.4% |
| 每股收益（稀释后） | $0.29 | $-4.22 |
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BLDRWLK
| Q4 25 | $3.4B | $2.5B | ||
| Q3 25 | $3.9B | $2.8B | ||
| Q2 25 | $4.2B | $3.0B | ||
| Q1 25 | $3.7B | $2.8B | ||
| Q4 24 | $3.8B | $2.8B | ||
| Q3 24 | $4.2B | $3.1B | ||
| Q2 24 | $4.5B | $3.2B | ||
| Q1 24 | $3.9B | $3.0B |
净利润BLDRWLK
| Q4 25 | $31.5M | $-544.0M | ||
| Q3 25 | $122.4M | $-782.0M | ||
| Q2 25 | $185.0M | $-142.0M | ||
| Q1 25 | $96.3M | $-40.0M | ||
| Q4 24 | $190.2M | $7.0M | ||
| Q3 24 | $284.8M | $108.0M | ||
| Q2 24 | $344.1M | $313.0M | ||
| Q1 24 | $258.8M | $174.0M |
毛利率BLDRWLK
| Q4 25 | 29.8% | 3.4% | ||
| Q3 25 | 30.4% | 8.3% | ||
| Q2 25 | 30.7% | 8.7% | ||
| Q1 25 | 30.5% | 8.2% | ||
| Q4 24 | 32.3% | 11.5% | ||
| Q3 24 | 32.8% | 16.0% | ||
| Q2 24 | 32.8% | 20.7% | ||
| Q1 24 | 33.4% | 15.7% |
营业利润率BLDRWLK
| Q4 25 | 1.8% | -26.5% | ||
| Q3 25 | 5.8% | -27.0% | ||
| Q2 25 | 7.4% | -3.7% | ||
| Q1 25 | 5.0% | -1.1% | ||
| Q4 24 | 8.0% | 2.3% | ||
| Q3 24 | 10.1% | 5.8% | ||
| Q2 24 | 11.0% | 12.7% | ||
| Q1 24 | 9.6% | 7.5% |
净利率BLDRWLK
| Q4 25 | 0.9% | -21.5% | ||
| Q3 25 | 3.1% | -27.6% | ||
| Q2 25 | 4.4% | -4.8% | ||
| Q1 25 | 2.6% | -1.4% | ||
| Q4 24 | 5.0% | 0.2% | ||
| Q3 24 | 6.7% | 3.5% | ||
| Q2 24 | 7.7% | 9.8% | ||
| Q1 24 | 6.7% | 5.8% |
每股收益（稀释后）BLDRWLK
| Q4 25 | $0.29 | $-4.22 | ||
| Q3 25 | $1.10 | $-6.06 | ||
| Q2 25 | $1.66 | $-1.11 | ||
| Q1 25 | $0.84 | $-0.31 | ||
| Q4 24 | $1.65 | $0.07 | ||
| Q3 24 | $2.44 | $0.83 | ||
| Q2 24 | $2.87 | $2.40 | ||
| Q1 24 | $2.10 | $1.34 |
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 | $2.7B |
| 总债务越低越好 | $4.4B | $5.6B |
| 股东权益账面价值 | $4.4B | $8.8B |
| 总资产 | $11.2B | $20.0B |
| 负债/权益比越低杠杆越低 | 1.02× | 0.64× |
8季度趋势，按日历期对齐
现金及短期投资BLDRWLK
| Q4 25 | $181.8M | $2.7B | ||
| Q3 25 | $296.2M | $1.9B | ||
| Q2 25 | $87.0M | $2.1B | ||
| Q1 25 | $115.4M | $2.3B | ||
| Q4 24 | $153.6M | $2.9B | ||
| Q3 24 | $328.1M | $2.9B | ||
| Q2 24 | $75.6M | $3.0B | ||
| Q1 24 | $697.5M | $3.1B |
总债务BLDRWLK
| Q4 25 | $4.4B | $5.6B | ||
| Q3 25 | $4.4B | $4.7B | ||
| Q2 25 | $4.7B | $4.7B | ||
| Q1 25 | $4.5B | $4.6B | ||
| Q4 24 | $3.7B | $4.6B | ||
| Q3 24 | $3.7B | $4.6B | ||
| Q2 24 | $3.8B | $4.9B | ||
| Q1 24 | $3.7B | $4.9B |
股东权益BLDRWLK
| Q4 25 | $4.4B | $8.8B | ||
| Q3 25 | $4.3B | $9.4B | ||
| Q2 25 | $4.2B | $10.3B | ||
| Q1 25 | $4.4B | $10.4B | ||
| Q4 24 | $4.3B | $10.5B | ||
| Q3 24 | $4.4B | $10.7B | ||
| Q2 24 | $4.3B | $10.6B | ||
| Q1 24 | $5.0B | $10.3B |
总资产BLDRWLK
| Q4 25 | $11.2B | $20.0B | ||
| Q3 25 | $11.4B | $19.8B | ||
| Q2 25 | $11.5B | $20.8B | ||
| Q1 25 | $11.4B | $20.7B | ||
| Q4 24 | $10.6B | $20.8B | ||
| Q3 24 | $10.9B | $21.1B | ||
| Q2 24 | $10.7B | $21.1B | ||
| Q1 24 | $11.2B | $21.0B |
负债/权益比BLDRWLK
| Q4 25 | 1.02× | 0.64× | ||
| Q3 25 | 1.03× | 0.49× | ||
| Q2 25 | 1.12× | 0.45× | ||
| Q1 25 | 1.02× | 0.44× | ||
| Q4 24 | 0.86× | 0.43× | ||
| Q3 24 | 0.83× | 0.43× | ||
| Q2 24 | 0.88× | 0.46× | ||
| Q1 24 | 0.75× | 0.47× |
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 | $225.0M |
| 自由现金流经营现金流 - 资本支出 | $106.7M | $-16.0M |
| 自由现金流率自由现金流/营收 | 3.2% | -0.6% |
| 资本支出强度资本支出/营收 | 2.6% | 9.5% |
| 现金转化率经营现金流/净利润 | 6.19× | — |
| 过去12个月自由现金流最近4个季度 | $853.3M | $-530.0M |
8季度趋势，按日历期对齐
经营现金流BLDRWLK
| Q4 25 | $194.8M | $225.0M | ||
| Q3 25 | $547.7M | $182.0M | ||
| Q2 25 | $341.0M | $135.0M | ||
| Q1 25 | $132.3M | $-77.0M | ||
| Q4 24 | $373.5M | $434.0M | ||
| Q3 24 | $730.0M | $474.0M | ||
| Q2 24 | $452.1M | $237.0M | ||
| Q1 24 | $317.2M | $169.0M |
自由现金流BLDRWLK
| Q4 25 | $106.7M | $-16.0M | ||
| Q3 25 | $461.9M | $-57.0M | ||
| Q2 25 | $252.3M | $-132.0M | ||
| Q1 25 | $32.4M | $-325.0M | ||
| Q4 24 | $273.8M | $149.0M | ||
| Q3 24 | $630.4M | $254.0M | ||
| Q2 24 | $364.0M | $6.0M | ||
| Q1 24 | $224.0M | $-103.0M |
自由现金流率BLDRWLK
| Q4 25 | 3.2% | -0.6% | ||
| Q3 25 | 11.7% | -2.0% | ||
| Q2 25 | 6.0% | -4.5% | ||
| Q1 25 | 0.9% | -11.4% | ||
| Q4 24 | 7.2% | 5.2% | ||
| Q3 24 | 14.9% | 8.1% | ||
| Q2 24 | 8.2% | 0.2% | ||
| Q1 24 | 5.8% | -3.5% |
资本支出强度BLDRWLK
| Q4 25 | 2.6% | 9.5% | ||
| Q3 25 | 2.2% | 8.4% | ||
| Q2 25 | 2.1% | 9.0% | ||
| Q1 25 | 2.7% | 8.7% | ||
| Q4 24 | 2.6% | 10.0% | ||
| Q3 24 | 2.4% | 7.1% | ||
| Q2 24 | 2.0% | 7.2% | ||
| Q1 24 | 2.4% | 9.1% |
现金转化率BLDRWLK
| Q4 25 | 6.19× | — | ||
| Q3 25 | 4.48× | — | ||
| Q2 25 | 1.84× | — | ||
| Q1 25 | 1.37× | — | ||
| Q4 24 | 1.96× | 62.00× | ||
| Q3 24 | 2.56× | 4.39× | ||
| Q2 24 | 1.31× | 0.76× | ||
| Q1 24 | 1.23× | 0.97× |
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% |
WLK
| Performance Materials | $930.0M | 37% |
| Housing Products | $767.0M | 30% |
| Essential Materials | $702.0M | 28% |
| Infrastructure Products | $134.0M | 5% |
