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BRC Inc.（BRCC）与Rocket Lab Corp（RKLB）财务数据对比。点击上方公司名可切换其他公司
Rocket Lab Corp的季度营收约是BRC Inc.的1.6倍（$179.7M vs $112.7M），BRC Inc.净利率更高（-2.8% vs -29.5%，领先26.6%），Rocket Lab Corp同比增速更快（35.7% vs 6.5%），BRC Inc.自由现金流更多（$-9.4M vs $-114.2M），过去两年Rocket Lab Corp的营收复合增速更高（39.2% vs 7.0%）
BRC Inc.是一家美国高端咖啡与生活方式品牌，主营烘焙咖啡豆、即饮咖啡饮品、品牌服饰及户外装备，核心客群包含退伍军人、急救人员与户外爱好者，在北美地区通过电商及线下实体门店渠道销售产品。
Rocket Lab是公开上市的航空航天制造商及发射服务提供商，旗下Electron轨道火箭主打小型卫星发射，截至2026年1月已成功完成超75次任务，是全球现役发射次数最多的小型运载火箭。公司还开发了Electron的亚轨道改型HASTE用作高超音速技术测试平台，下一代可复用中型运载火箭Neutron目前也在研发中。
BRCC vs RKLB — 直观对比
营收规模更大
RKLB
是对方的1.6倍
$112.7M
营收增速更快
RKLB
高出29.2%
6.5%
净利率更高
BRCC
高出26.6%
-29.5%
自由现金流更多
BRCC
多$104.8M
$-114.2M
两年增速更快
RKLB
近两年复合增速
7.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $112.7M | $179.7M |
| 净利润 | $-3.2M | $-52.9M |
| 毛利率 | 32.1% | 38.0% |
| 营业利润率 | -6.3% | -28.4% |
| 净利率 | -2.8% | -29.5% |
| 营收同比 | 6.5% | 35.7% |
| 净利润同比 | -29.3% | -1.1% |
| 每股收益（稀释后） | $-0.02 | $-0.09 |
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BRCCRKLB
| Q4 25 | $112.7M | $179.7M | ||
| Q3 25 | $100.7M | $155.1M | ||
| Q2 25 | $94.8M | $144.5M | ||
| Q1 25 | $90.0M | $122.6M | ||
| Q4 24 | $105.9M | $132.4M | ||
| Q3 24 | $98.2M | $104.8M | ||
| Q2 24 | $89.0M | $106.3M | ||
| Q1 24 | $98.4M | $92.8M |
净利润BRCCRKLB
| Q4 25 | $-3.2M | $-52.9M | ||
| Q3 25 | $-486.0K | $-18.3M | ||
| Q2 25 | $-5.3M | $-66.4M | ||
| Q1 25 | $-2.9M | $-60.6M | ||
| Q4 24 | $-2.5M | $-52.3M | ||
| Q3 24 | $-535.0K | $-51.9M | ||
| Q2 24 | $-482.0K | $-41.6M | ||
| Q1 24 | $548.0K | $-44.3M |
毛利率BRCCRKLB
| Q4 25 | 32.1% | 38.0% | ||
| Q3 25 | 36.9% | 37.0% | ||
| Q2 25 | 33.9% | 32.1% | ||
| Q1 25 | 36.1% | 28.8% | ||
| Q4 24 | 38.1% | 27.8% | ||
| Q3 24 | 42.1% | 26.7% | ||
| Q2 24 | 41.9% | 25.6% | ||
| Q1 24 | 42.9% | 26.1% |
营业利润率BRCCRKLB
| Q4 25 | -6.3% | -28.4% | ||
| Q3 25 | 0.5% | -38.0% | ||
| Q2 25 | -13.3% | -41.3% | ||
| Q1 25 | -6.0% | -48.3% | ||
| Q4 24 | -2.1% | -38.9% | ||
| Q3 24 | 1.1% | -49.5% | ||
| Q2 24 | 1.1% | -40.7% | ||
| Q1 24 | 4.0% | -46.4% |
净利率BRCCRKLB
| Q4 25 | -2.8% | -29.5% | ||
| Q3 25 | -0.5% | -11.8% | ||
| Q2 25 | -5.6% | -46.0% | ||
| Q1 25 | -3.2% | -49.5% | ||
| Q4 24 | -2.3% | -39.5% | ||
| Q3 24 | -0.5% | -49.6% | ||
| Q2 24 | -0.5% | -39.2% | ||
| Q1 24 | 0.6% | -47.7% |
每股收益（稀释后）BRCCRKLB
| Q4 25 | $-0.02 | $-0.09 | ||
| Q3 25 | $0.00 | $-0.03 | ||
| Q2 25 | $-0.07 | $-0.13 | ||
| Q1 25 | $-0.04 | $-0.12 | ||
| Q4 24 | $-0.03 | $-0.11 | ||
| Q3 24 | $-0.01 | $-0.10 | ||
| Q2 24 | $-0.01 | $-0.08 | ||
| Q1 24 | $0.01 | $-0.09 |
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 | $4.3M | $1.0B |
| 总债务越低越好 | $34.7M | $152.4M |
| 股东权益账面价值 | $45.7M | $1.7B |
| 总资产 | $209.2M | $2.3B |
| 负债/权益比越低杠杆越低 | 0.76× | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资BRCCRKLB
| Q4 25 | $4.3M | $1.0B | ||
| Q3 25 | $9.5M | $976.7M | ||
| Q2 25 | $4.3M | $688.1M | ||
| Q1 25 | $3.9M | $428.4M | ||
| Q4 24 | $6.8M | $419.0M | ||
| Q3 24 | $7.3M | $442.4M | ||
| Q2 24 | $9.6M | $496.8M | ||
| Q1 24 | $4.0M | $492.5M |
总债务BRCCRKLB
| Q4 25 | $34.7M | $152.4M | ||
| Q3 25 | $35.0M | $347.0M | ||
| Q2 25 | $72.7M | $346.5M | ||
| Q1 25 | $68.8M | $345.9M | ||
| Q4 24 | $65.1M | $345.4M | ||
| Q3 24 | $64.9M | $61.2M | ||
| Q2 24 | $66.5M | $64.2M | ||
| Q1 24 | $61.5M | $66.8M |
股东权益BRCCRKLB
| Q4 25 | $45.7M | $1.7B | ||
| Q3 25 | $48.0M | $1.3B | ||
| Q2 25 | $10.1M | $688.5M | ||
| Q1 25 | $11.2M | $431.3M | ||
| Q4 24 | $13.2M | $382.5M | ||
| Q3 24 | $14.5M | $419.8M | ||
| Q2 24 | $14.9M | $455.2M | ||
| Q1 24 | $14.6M | $478.9M |
总资产BRCCRKLB
| Q4 25 | $209.2M | $2.3B | ||
| Q3 25 | $222.4M | $2.2B | ||
| Q2 25 | $225.3M | $1.6B | ||
| Q1 25 | $222.9M | $1.3B | ||
| Q4 24 | $227.4M | $1.2B | ||
| Q3 24 | $233.7M | $1.2B | ||
| Q2 24 | $229.9M | $1.2B | ||
| Q1 24 | $227.2M | $1.2B |
负债/权益比BRCCRKLB
| Q4 25 | 0.76× | 0.09× | ||
| Q3 25 | 0.73× | 0.27× | ||
| Q2 25 | 7.19× | 0.50× | ||
| Q1 25 | 6.15× | 0.80× | ||
| Q4 24 | 4.94× | 0.90× | ||
| Q3 24 | 4.47× | 0.15× | ||
| Q2 24 | 4.46× | 0.14× | ||
| Q1 24 | 4.21× | 0.14× |
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 | $-8.7M | $-64.5M |
| 自由现金流经营现金流 - 资本支出 | $-9.4M | $-114.2M |
| 自由现金流率自由现金流/营收 | -8.3% | -63.6% |
| 资本支出强度资本支出/营收 | 0.6% | 27.6% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $-13.5M | $-321.8M |
8季度趋势，按日历期对齐
经营现金流BRCCRKLB
| Q4 25 | $-8.7M | $-64.5M | ||
| Q3 25 | $6.4M | $-23.5M | ||
| Q2 25 | $-3.3M | $-23.2M | ||
| Q1 25 | $-4.1M | $-54.2M | ||
| Q4 24 | $2.2M | $-2.4M | ||
| Q3 24 | $1.9M | $-30.9M | ||
| Q2 24 | $2.3M | $-13.0M | ||
| Q1 24 | $4.9M | $-2.6M |
自由现金流BRCCRKLB
| Q4 25 | $-9.4M | $-114.2M | ||
| Q3 25 | $5.6M | $-69.4M | ||
| Q2 25 | $-4.3M | $-55.3M | ||
| Q1 25 | $-5.3M | $-82.9M | ||
| Q4 24 | $504.0K | $-23.9M | ||
| Q3 24 | $-205.0K | $-41.9M | ||
| Q2 24 | $147.0K | $-28.3M | ||
| Q1 24 | $2.2M | $-21.8M |
自由现金流率BRCCRKLB
| Q4 25 | -8.3% | -63.6% | ||
| Q3 25 | 5.5% | -44.8% | ||
| Q2 25 | -4.5% | -38.3% | ||
| Q1 25 | -5.9% | -67.6% | ||
| Q4 24 | 0.5% | -18.1% | ||
| Q3 24 | -0.2% | -40.0% | ||
| Q2 24 | 0.2% | -26.7% | ||
| Q1 24 | 2.2% | -23.5% |
资本支出强度BRCCRKLB
| Q4 25 | 0.6% | 27.6% | ||
| Q3 25 | 0.8% | 29.6% | ||
| Q2 25 | 1.0% | 22.2% | ||
| Q1 25 | 1.3% | 23.4% | ||
| Q4 24 | 1.6% | 16.3% | ||
| Q3 24 | 2.2% | 10.5% | ||
| Q2 24 | 2.4% | 14.4% | ||
| Q1 24 | 2.8% | 20.7% |
现金转化率BRCCRKLB
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 8.97× | — |
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
BRCC
| Sales Channel Through Intermediary | $72.9M | 65% |
| Sales Channel Directly To Consumer | $34.4M | 31% |
| Outpost | $5.4M | 5% |
RKLB
| Products | $94.0M | 52% |
| Transferred Over Time | $87.3M | 49% |
