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Black Rock Coffee Bar, Inc.（BRCB）与Dutch Bros Inc.（BROS）财务数据对比。点击上方公司名可切换其他公司
Dutch Bros Inc.的季度营收约是Black Rock Coffee Bar, Inc.的8.6倍（$443.6M vs $51.5M）。Dutch Bros Inc.净利率更高（4.8% vs -1.4%，领先6.2%）。Dutch Bros Inc.自由现金流更多（$8.5M vs $-25.8M）
Black Rock Coffee Bar是一家总部位于美国的特色咖啡零售连锁企业，提供手工精品咖啡、能量饮料、烘焙食品及轻食，在美国西部运营多家线下门店和得来速网点，主打高品质可定制产品与社区化消费体验。
Dutch Bros Inc.是美国上市得来速咖啡连锁品牌，1992年由戴恩·博尔斯马与特拉维斯·博尔斯马创立，原总部位于俄勒冈州格兰茨帕斯，2025年迁至亚利桑那州坦佩。品牌拥有直营及加盟门店，主力布局美国西部市场，目前扩张范围最东已覆盖佛罗里达州奥兰多。
BRCB vs BROS — 直观对比
营收规模更大
BROS
是对方的8.6倍
$51.5M
净利率更高
BROS
高出6.2%
-1.4%
自由现金流更多
BROS
多$34.3M
$-25.8M
损益表 — Q3 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $51.5M | $443.6M |
| 净利润 | $-712.0K | $21.4M |
| 毛利率 | — | 24.1% |
| 营业利润率 | -12.4% | 7.7% |
| 净利率 | -1.4% | 4.8% |
| 营收同比 | — | 29.4% |
| 净利润同比 | — | 491.6% |
| 每股收益（稀释后） | $-0.05 | $0.17 |
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BRCBBROS
| Q4 25 | — | $443.6M | ||
| Q3 25 | $51.5M | $423.6M | ||
| Q2 25 | — | $415.8M | ||
| Q1 25 | — | $355.2M | ||
| Q4 24 | — | $342.8M | ||
| Q3 24 | — | $338.2M | ||
| Q2 24 | — | $324.9M | ||
| Q1 24 | — | $275.1M |
净利润BRCBBROS
| Q4 25 | — | $21.4M | ||
| Q3 25 | $-712.0K | $17.5M | ||
| Q2 25 | — | $25.6M | ||
| Q1 25 | — | $15.4M | ||
| Q4 24 | — | $3.6M | ||
| Q3 24 | — | $12.6M | ||
| Q2 24 | — | $11.9M | ||
| Q1 24 | — | $7.1M |
毛利率BRCBBROS
| Q4 25 | — | 24.1% | ||
| Q3 25 | — | 25.2% | ||
| Q2 25 | — | 28.9% | ||
| Q1 25 | — | 25.3% | ||
| Q4 24 | — | 25.7% | ||
| Q3 24 | — | 26.6% | ||
| Q2 24 | — | 27.8% | ||
| Q1 24 | — | 26.1% |
营业利润率BRCBBROS
| Q4 25 | — | 7.7% | ||
| Q3 25 | -12.4% | 9.8% | ||
| Q2 25 | — | 13.1% | ||
| Q1 25 | — | 8.7% | ||
| Q4 24 | — | 4.6% | ||
| Q3 24 | — | 9.6% | ||
| Q2 24 | — | 9.9% | ||
| Q1 24 | — | 9.3% |
净利率BRCBBROS
| Q4 25 | — | 4.8% | ||
| Q3 25 | -1.4% | 4.1% | ||
| Q2 25 | — | 6.2% | ||
| Q1 25 | — | 4.3% | ||
| Q4 24 | — | 1.1% | ||
| Q3 24 | — | 3.7% | ||
| Q2 24 | — | 3.7% | ||
| Q1 24 | — | 2.6% |
每股收益（稀释后）BRCBBROS
| Q4 25 | — | $0.17 | ||
| Q3 25 | $-0.05 | $0.14 | ||
| Q2 25 | — | $0.20 | ||
| Q1 25 | — | $0.13 | ||
| Q4 24 | — | $0.03 | ||
| Q3 24 | — | $0.11 | ||
| Q2 24 | — | $0.12 | ||
| Q1 24 | — | $0.08 |
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 | $32.6M | $269.4M |
| 总债务越低越好 | $20.0M | $202.5M |
| 股东权益账面价值 | $43.0M | $680.8M |
| 总资产 | $323.2M | $3.0B |
| 负债/权益比越低杠杆越低 | 0.46× | 0.30× |
8季度趋势，按日历期对齐
现金及短期投资BRCBBROS
| Q4 25 | — | $269.4M | ||
| Q3 25 | $32.6M | $267.2M | ||
| Q2 25 | — | $254.4M | ||
| Q1 25 | — | $316.4M | ||
| Q4 24 | — | $293.4M | ||
| Q3 24 | — | $281.1M | ||
| Q2 24 | — | $260.9M | ||
| Q1 24 | — | $262.7M |
总债务BRCBBROS
| Q4 25 | — | $202.5M | ||
| Q3 25 | $20.0M | $202.3M | ||
| Q2 25 | — | $203.3M | ||
| Q1 25 | — | $284.2M | ||
| Q4 24 | — | $238.0M | ||
| Q3 24 | — | $241.2M | ||
| Q2 24 | — | $244.3M | ||
| Q1 24 | — | $247.5M |
股东权益BRCBBROS
| Q4 25 | — | $680.8M | ||
| Q3 25 | $43.0M | $656.6M | ||
| Q2 25 | — | $636.2M | ||
| Q1 25 | — | $599.1M | ||
| Q4 24 | — | $537.4M | ||
| Q3 24 | — | $523.1M | ||
| Q2 24 | — | $509.1M | ||
| Q1 24 | — | $417.1M |
总资产BRCBBROS
| Q4 25 | — | $3.0B | ||
| Q3 25 | $323.2M | $2.9B | ||
| Q2 25 | — | $2.8B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | — | $2.5B | ||
| Q3 24 | — | $2.4B | ||
| Q2 24 | — | $2.4B | ||
| Q1 24 | — | $2.1B |
负债/权益比BRCBBROS
| Q4 25 | — | 0.30× | ||
| Q3 25 | 0.46× | 0.31× | ||
| Q2 25 | — | 0.32× | ||
| Q1 25 | — | 0.47× | ||
| Q4 24 | — | 0.44× | ||
| Q3 24 | — | 0.46× | ||
| Q2 24 | — | 0.48× | ||
| Q1 24 | — | 0.59× |
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 | $-2.9M | $79.6M |
| 自由现金流经营现金流 - 资本支出 | $-25.8M | $8.5M |
| 自由现金流率自由现金流/营收 | -50.2% | 1.9% |
| 资本支出强度资本支出/营收 | 44.5% | 16.0% |
| 现金转化率经营现金流/净利润 | — | 3.73× |
| 过去12个月自由现金流最近4个季度 | — | $54.4M |
8季度趋势，按日历期对齐
经营现金流BRCBBROS
| Q4 25 | — | $79.6M | ||
| Q3 25 | $-2.9M | $89.1M | ||
| Q2 25 | — | $89.9M | ||
| Q1 25 | — | $36.9M | ||
| Q4 24 | — | $62.2M | ||
| Q3 24 | — | $83.5M | ||
| Q2 24 | — | $59.5M | ||
| Q1 24 | — | $41.2M |
自由现金流BRCBBROS
| Q4 25 | — | $8.5M | ||
| Q3 25 | $-25.8M | $18.9M | ||
| Q2 25 | — | $35.7M | ||
| Q1 25 | — | $-8.7M | ||
| Q4 24 | — | $19.5M | ||
| Q3 24 | — | $26.4M | ||
| Q2 24 | — | $-4.9M | ||
| Q1 24 | — | $-16.3M |
自由现金流率BRCBBROS
| Q4 25 | — | 1.9% | ||
| Q3 25 | -50.2% | 4.5% | ||
| Q2 25 | — | 8.6% | ||
| Q1 25 | — | -2.4% | ||
| Q4 24 | — | 5.7% | ||
| Q3 24 | — | 7.8% | ||
| Q2 24 | — | -1.5% | ||
| Q1 24 | — | -5.9% |
资本支出强度BRCBBROS
| Q4 25 | — | 16.0% | ||
| Q3 25 | 44.5% | 16.6% | ||
| Q2 25 | — | 13.0% | ||
| Q1 25 | — | 12.8% | ||
| Q4 24 | — | 12.5% | ||
| Q3 24 | — | 16.9% | ||
| Q2 24 | — | 19.8% | ||
| Q1 24 | — | 20.9% |
现金转化率BRCBBROS
| Q4 25 | — | 3.73× | ||
| Q3 25 | — | 5.09× | ||
| Q2 25 | — | 3.51× | ||
| Q1 25 | — | 2.40× | ||
| Q4 24 | — | 17.23× | ||
| Q3 24 | — | 6.60× | ||
| Q2 24 | — | 4.99× | ||
| Q1 24 | — | 5.83× |
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
BRCB
暂无分部数据
BROS
| Company Operated Shops | $409.6M | 92% |
| Franchise Fees | $32.3M | 7% |
| Other | $1.8M | 0% |
