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Dutch Bros Inc.（BROS）与IES Holdings, Inc.（IESC）财务数据对比。点击上方公司名可切换其他公司
IES Holdings, Inc.的季度营收约是Dutch Bros Inc.的1.9倍（$871.0M vs $464.4M），IES Holdings, Inc.净利率更高（10.5% vs 5.1%，领先5.4%），Dutch Bros Inc.同比增速更快（30.8% vs 16.2%），过去两年Dutch Bros Inc.的营收复合增速更高（19.6% vs 11.1%）
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。
IES Holdings, Inc.前身为Integrated Electrical Services, Inc.，主营业务为集成电气及技术系统的设计与安装，同时面向数据中心、住宅、商业和工业设施等多元终端市场提供基础设施类产品及相关服务。
BROS vs IESC — 直观对比
营收规模更大
IESC
是对方的1.9倍
$464.4M
营收增速更快
BROS
高出14.6%
16.2%
净利率更高
IESC
高出5.4%
5.1%
两年增速更快
BROS
近两年复合增速
11.1%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $464.4M | $871.0M |
| 净利润 | $23.7M | $91.8M |
| 毛利率 | 23.1% | 25.3% |
| 营业利润率 | 7.4% | 11.2% |
| 净利率 | 5.1% | 10.5% |
| 营收同比 | 30.8% | 16.2% |
| 净利润同比 | 5.3% | 59.1% |
| 每股收益（稀释后） | $0.13 | $4.51 |
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BROSIESC
| Q1 26 | $464.4M | — | ||
| Q4 25 | $443.6M | $871.0M | ||
| Q3 25 | $423.6M | $897.8M | ||
| Q2 25 | $415.8M | $890.2M | ||
| Q1 25 | $355.2M | $834.0M | ||
| Q4 24 | $342.8M | $749.5M | ||
| Q3 24 | $338.2M | $775.8M | ||
| Q2 24 | $324.9M | $768.4M |
净利润BROSIESC
| Q1 26 | $23.7M | — | ||
| Q4 25 | $21.4M | $91.8M | ||
| Q3 25 | $17.5M | $102.3M | ||
| Q2 25 | $25.6M | $79.3M | ||
| Q1 25 | $15.4M | $72.6M | ||
| Q4 24 | $3.6M | $57.7M | ||
| Q3 24 | $12.6M | $65.5M | ||
| Q2 24 | $11.9M | $66.6M |
毛利率BROSIESC
| Q1 26 | 23.1% | — | ||
| Q4 25 | 24.1% | 25.3% | ||
| Q3 25 | 25.2% | 26.0% | ||
| Q2 25 | 28.9% | 26.9% | ||
| Q1 25 | 25.3% | 25.0% | ||
| Q4 24 | 25.7% | 23.8% | ||
| Q3 24 | 26.6% | 24.0% | ||
| Q2 24 | 27.8% | 25.3% |
营业利润率BROSIESC
| Q1 26 | 7.4% | — | ||
| Q4 25 | 7.7% | 11.2% | ||
| Q3 25 | 9.8% | 11.6% | ||
| Q2 25 | 13.1% | 12.6% | ||
| Q1 25 | 8.7% | 11.1% | ||
| Q4 24 | 4.6% | 10.0% | ||
| Q3 24 | 9.6% | 9.7% | ||
| Q2 24 | 9.9% | 11.7% |
净利率BROSIESC
| Q1 26 | 5.1% | — | ||
| Q4 25 | 4.8% | 10.5% | ||
| Q3 25 | 4.1% | 11.4% | ||
| Q2 25 | 6.2% | 8.9% | ||
| Q1 25 | 4.3% | 8.7% | ||
| Q4 24 | 1.1% | 7.7% | ||
| Q3 24 | 3.7% | 8.4% | ||
| Q2 24 | 3.7% | 8.7% |
每股收益（稀释后）BROSIESC
| Q1 26 | $0.13 | — | ||
| Q4 25 | $0.17 | $4.51 | ||
| Q3 25 | $0.14 | $4.99 | ||
| Q2 25 | $0.20 | $3.81 | ||
| Q1 25 | $0.13 | $3.50 | ||
| Q4 24 | $0.03 | $2.72 | ||
| Q3 24 | $0.11 | $3.06 | ||
| Q2 24 | $0.12 | $2.67 |
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 | $263.5M | $258.7M |
| 总债务越低越好 | $199.3M | — |
| 股东权益账面价值 | $920.5M | $961.1M |
| 总资产 | $3.1B | $1.7B |
| 负债/权益比越低杠杆越低 | 0.22× | — |
8季度趋势，按日历期对齐
现金及短期投资BROSIESC
| Q1 26 | $263.5M | — | ||
| Q4 25 | $269.4M | $258.7M | ||
| Q3 25 | $267.2M | $231.8M | ||
| Q2 25 | $254.4M | $168.3M | ||
| Q1 25 | $316.4M | $88.3M | ||
| Q4 24 | $293.4M | $112.0M | ||
| Q3 24 | $281.1M | $135.8M | ||
| Q2 24 | $260.9M | $44.9M |
总债务BROSIESC
| Q1 26 | $199.3M | — | ||
| Q4 25 | $202.5M | — | ||
| Q3 25 | $202.3M | — | ||
| Q2 25 | $203.3M | — | ||
| Q1 25 | $284.2M | — | ||
| Q4 24 | $238.0M | — | ||
| Q3 24 | $241.2M | — | ||
| Q2 24 | $244.3M | — |
股东权益BROSIESC
| Q1 26 | $920.5M | — | ||
| Q4 25 | $680.8M | $961.1M | ||
| Q3 25 | $656.6M | $884.0M | ||
| Q2 25 | $636.2M | $781.4M | ||
| Q1 25 | $599.1M | $705.8M | ||
| Q4 24 | $537.4M | $652.4M | ||
| Q3 24 | $523.1M | $611.1M | ||
| Q2 24 | $509.1M | $567.5M |
总资产BROSIESC
| Q1 26 | $3.1B | — | ||
| Q4 25 | $3.0B | $1.7B | ||
| Q3 25 | $2.9B | $1.6B | ||
| Q2 25 | $2.8B | $1.5B | ||
| Q1 25 | $2.8B | $1.4B | ||
| Q4 24 | $2.5B | $1.3B | ||
| Q3 24 | $2.4B | $1.2B | ||
| Q2 24 | $2.4B | $1.2B |
负债/权益比BROSIESC
| Q1 26 | 0.22× | — | ||
| Q4 25 | 0.30× | — | ||
| Q3 25 | 0.31× | — | ||
| Q2 25 | 0.32× | — | ||
| Q1 25 | 0.47× | — | ||
| Q4 24 | 0.44× | — | ||
| Q3 24 | 0.46× | — | ||
| Q2 24 | 0.48× | — |
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 | $84.7M | $27.7M |
| 自由现金流经营现金流 - 资本支出 | — | $-18.9M |
| 自由现金流率自由现金流/营收 | — | -2.2% |
| 资本支出强度资本支出/营收 | — | 5.3% |
| 现金转化率经营现金流/净利润 | 3.58× | 0.30× |
| 过去12个月自由现金流最近4个季度 | — | $175.9M |
8季度趋势，按日历期对齐
经营现金流BROSIESC
| Q1 26 | $84.7M | — | ||
| Q4 25 | $79.6M | $27.7M | ||
| Q3 25 | $89.1M | $132.0M | ||
| Q2 25 | $89.9M | $92.0M | ||
| Q1 25 | $36.9M | $24.8M | ||
| Q4 24 | $62.2M | $37.3M | ||
| Q3 24 | $83.5M | $92.8M | ||
| Q2 24 | $59.5M | $82.9M |
自由现金流BROSIESC
| Q1 26 | — | — | ||
| Q4 25 | $8.5M | $-18.9M | ||
| Q3 25 | $18.9M | $112.0M | ||
| Q2 25 | $35.7M | $74.8M | ||
| Q1 25 | $-8.7M | $7.9M | ||
| Q4 24 | $19.5M | $24.1M | ||
| Q3 24 | $26.4M | $78.5M | ||
| Q2 24 | $-4.9M | $65.4M |
自由现金流率BROSIESC
| Q1 26 | — | — | ||
| Q4 25 | 1.9% | -2.2% | ||
| Q3 25 | 4.5% | 12.5% | ||
| Q2 25 | 8.6% | 8.4% | ||
| Q1 25 | -2.4% | 0.9% | ||
| Q4 24 | 5.7% | 3.2% | ||
| Q3 24 | 7.8% | 10.1% | ||
| Q2 24 | -1.5% | 8.5% |
资本支出强度BROSIESC
| Q1 26 | — | — | ||
| Q4 25 | 16.0% | 5.3% | ||
| Q3 25 | 16.6% | 2.2% | ||
| Q2 25 | 13.0% | 1.9% | ||
| Q1 25 | 12.8% | 2.0% | ||
| Q4 24 | 12.5% | 1.8% | ||
| Q3 24 | 16.9% | 1.8% | ||
| Q2 24 | 19.8% | 2.3% |
现金转化率BROSIESC
| Q1 26 | 3.58× | — | ||
| Q4 25 | 3.73× | 0.30× | ||
| Q3 25 | 5.09× | 1.29× | ||
| Q2 25 | 3.51× | 1.16× | ||
| Q1 25 | 2.40× | 0.34× | ||
| Q4 24 | 17.23× | 0.65× | ||
| Q3 24 | 6.60× | 1.42× | ||
| Q2 24 | 4.99× | 1.24× |
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
BROS
| Company-operated shops | $429.1M | 92% |
| Franchising and other | $35.4M | 8% |
IESC
| Communications | $351.9M | 40% |
| Single Family Electrical Contracts | $137.0M | 16% |
| Custom Engineered Solutions | $116.0M | 13% |
| Commercialand Industrial | $94.8M | 11% |
| Single Family Contracts Plumbing HVAC | $82.9M | 10% |
| Multi Familyand Other | $64.2M | 7% |
| Industrial Services | $24.2M | 3% |
