vs
Dutch Bros Inc.（BROS）与Mativ Holdings, Inc.（MATV）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Mativ Holdings, Inc.的1.0倍（$464.4M vs $463.1M），Mativ Holdings, Inc.净利率更高（21.8% vs 5.1%，领先16.7%），Dutch Bros Inc.同比增速更快（30.8% vs 1.0%），过去两年Dutch Bros Inc.的营收复合增速更高（19.6% vs -3.8%）
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。
Mativ Holdings是一家全球特种材料制造商，主要生产高性能先进聚合物、无纺布、过滤解决方案及功能性涂层材料，服务医疗、工业、消费品、航空航天、能源等领域，业务遍及北美、欧洲及亚太地区。
BROS vs MATV — 直观对比
营收规模更大
BROS
是对方的1.0倍
$463.1M
营收增速更快
BROS
高出29.8%
1.0%
净利率更高
MATV
高出16.7%
5.1%
两年增速更快
BROS
近两年复合增速
-3.8%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $464.4M | $463.1M |
| 净利润 | $23.7M | $100.8M |
| 毛利率 | 23.1% | 18.8% |
| 营业利润率 | 7.4% | 2.2% |
| 净利率 | 5.1% | 21.8% |
| 营收同比 | 30.8% | 1.0% |
| 净利润同比 | 5.3% | 6620.0% |
| 每股收益（稀释后） | $0.13 | $1.87 |
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BROSMATV
| Q1 26 | $464.4M | — | ||
| Q4 25 | $443.6M | $463.1M | ||
| Q3 25 | $423.6M | $513.7M | ||
| Q2 25 | $415.8M | $525.4M | ||
| Q1 25 | $355.2M | $484.8M | ||
| Q4 24 | $342.8M | $458.6M | ||
| Q3 24 | $338.2M | $498.5M | ||
| Q2 24 | $324.9M | $523.8M |
净利润BROSMATV
| Q1 26 | $23.7M | — | ||
| Q4 25 | $21.4M | $100.8M | ||
| Q3 25 | $17.5M | $-3.2M | ||
| Q2 25 | $25.6M | $-9.5M | ||
| Q1 25 | $15.4M | $-425.5M | ||
| Q4 24 | $3.6M | $1.5M | ||
| Q3 24 | $12.6M | $-20.8M | ||
| Q2 24 | $11.9M | $-1.4M |
毛利率BROSMATV
| Q1 26 | 23.1% | — | ||
| Q4 25 | 24.1% | 18.8% | ||
| Q3 25 | 25.2% | 19.3% | ||
| Q2 25 | 28.9% | 19.7% | ||
| Q1 25 | 25.3% | 15.0% | ||
| Q4 24 | 25.7% | 16.9% | ||
| Q3 24 | 26.6% | 18.8% | ||
| Q2 24 | 27.8% | 20.8% |
营业利润率BROSMATV
| Q1 26 | 7.4% | — | ||
| Q4 25 | 7.7% | 2.2% | ||
| Q3 25 | 9.8% | 3.1% | ||
| Q2 25 | 13.1% | 3.8% | ||
| Q1 25 | 8.7% | -88.8% | ||
| Q4 24 | 4.6% | 0.6% | ||
| Q3 24 | 9.6% | 1.4% | ||
| Q2 24 | 9.9% | 2.0% |
净利率BROSMATV
| Q1 26 | 5.1% | — | ||
| Q4 25 | 4.8% | 21.8% | ||
| Q3 25 | 4.1% | -0.6% | ||
| Q2 25 | 6.2% | -1.8% | ||
| Q1 25 | 4.3% | -87.8% | ||
| Q4 24 | 1.1% | 0.3% | ||
| Q3 24 | 3.7% | -4.2% | ||
| Q2 24 | 3.7% | -0.3% |
每股收益（稀释后）BROSMATV
| Q1 26 | $0.13 | — | ||
| Q4 25 | $0.17 | $1.87 | ||
| Q3 25 | $0.14 | $-0.06 | ||
| Q2 25 | $0.20 | $-0.18 | ||
| Q1 25 | $0.13 | $-7.82 | ||
| Q4 24 | $0.03 | $0.03 | ||
| Q3 24 | $0.11 | $-0.38 | ||
| Q2 24 | $0.12 | $-0.03 |
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 | $84.2M |
| 总债务越低越好 | $199.3M | $1.0B |
| 股东权益账面价值 | $920.5M | $498.7M |
| 总资产 | $3.1B | $2.1B |
| 负债/权益比越低杠杆越低 | 0.22× | 2.07× |
8季度趋势，按日历期对齐
现金及短期投资BROSMATV
| Q1 26 | $263.5M | — | ||
| Q4 25 | $269.4M | $84.2M | ||
| Q3 25 | $267.2M | $97.1M | ||
| Q2 25 | $254.4M | $95.6M | ||
| Q1 25 | $316.4M | $84.0M | ||
| Q4 24 | $293.4M | $94.3M | ||
| Q3 24 | $281.1M | $162.2M | ||
| Q2 24 | $260.9M | $133.4M |
总债务BROSMATV
| Q1 26 | $199.3M | — | ||
| Q4 25 | $202.5M | $1.0B | ||
| Q3 25 | $202.3M | $1.0B | ||
| Q2 25 | $203.3M | $1.1B | ||
| Q1 25 | $284.2M | $1.1B | ||
| Q4 24 | $238.0M | $1.1B | ||
| Q3 24 | $241.2M | $1.2B | ||
| Q2 24 | $244.3M | $1.2B |
股东权益BROSMATV
| Q1 26 | $920.5M | — | ||
| Q4 25 | $680.8M | $498.7M | ||
| Q3 25 | $656.6M | $397.4M | ||
| Q2 25 | $636.2M | $416.6M | ||
| Q1 25 | $599.1M | $428.2M | ||
| Q4 24 | $537.4M | $858.5M | ||
| Q3 24 | $523.1M | $882.3M | ||
| Q2 24 | $509.1M | $898.0M |
总资产BROSMATV
| Q1 26 | $3.1B | — | ||
| Q4 25 | $3.0B | $2.1B | ||
| Q3 25 | $2.9B | $2.0B | ||
| Q2 25 | $2.8B | $2.1B | ||
| Q1 25 | $2.8B | $2.1B | ||
| Q4 24 | $2.5B | $2.4B | ||
| Q3 24 | $2.4B | $2.6B | ||
| Q2 24 | $2.4B | $2.6B |
负债/权益比BROSMATV
| Q1 26 | 0.22× | — | ||
| Q4 25 | 0.30× | 2.07× | ||
| Q3 25 | 0.31× | 2.63× | ||
| Q2 25 | 0.32× | 2.66× | ||
| Q1 25 | 0.47× | 2.67× | ||
| Q4 24 | 0.44× | 1.30× | ||
| Q3 24 | 0.46× | 1.32× | ||
| Q2 24 | 0.48× | 1.29× |
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 | $19.3M |
| 自由现金流经营现金流 - 资本支出 | — | $8.0M |
| 自由现金流率自由现金流/营收 | — | 1.7% |
| 资本支出强度资本支出/营收 | — | 2.4% |
| 现金转化率经营现金流/净利润 | 3.58× | 0.19× |
| 过去12个月自由现金流最近4个季度 | — | $93.8M |
8季度趋势，按日历期对齐
经营现金流BROSMATV
| Q1 26 | $84.7M | — | ||
| Q4 25 | $79.6M | $19.3M | ||
| Q3 25 | $89.1M | $72.8M | ||
| Q2 25 | $89.9M | $57.6M | ||
| Q1 25 | $36.9M | $-15.9M | ||
| Q4 24 | $62.2M | $24.1M | ||
| Q3 24 | $83.5M | $37.6M | ||
| Q2 24 | $59.5M | $46.1M |
自由现金流BROSMATV
| Q1 26 | — | — | ||
| Q4 25 | $8.5M | $8.0M | ||
| Q3 25 | $18.9M | $66.7M | ||
| Q2 25 | $35.7M | $48.9M | ||
| Q1 25 | $-8.7M | $-29.8M | ||
| Q4 24 | $19.5M | $2.0M | ||
| Q3 24 | $26.4M | $25.5M | ||
| Q2 24 | $-4.9M | $37.4M |
自由现金流率BROSMATV
| Q1 26 | — | — | ||
| Q4 25 | 1.9% | 1.7% | ||
| Q3 25 | 4.5% | 13.0% | ||
| Q2 25 | 8.6% | 9.3% | ||
| Q1 25 | -2.4% | -6.1% | ||
| Q4 24 | 5.7% | 0.4% | ||
| Q3 24 | 7.8% | 5.1% | ||
| Q2 24 | -1.5% | 7.1% |
资本支出强度BROSMATV
| Q1 26 | — | — | ||
| Q4 25 | 16.0% | 2.4% | ||
| Q3 25 | 16.6% | 1.2% | ||
| Q2 25 | 13.0% | 1.7% | ||
| Q1 25 | 12.8% | 2.9% | ||
| Q4 24 | 12.5% | 4.8% | ||
| Q3 24 | 16.9% | 2.4% | ||
| Q2 24 | 19.8% | 1.7% |
现金转化率BROSMATV
| Q1 26 | 3.58× | — | ||
| Q4 25 | 3.73× | 0.19× | ||
| Q3 25 | 5.09× | — | ||
| Q2 25 | 3.51× | — | ||
| Q1 25 | 2.40× | — | ||
| Q4 24 | 17.23× | 16.07× | ||
| Q3 24 | 6.60× | — | ||
| Q2 24 | 4.99× | — |
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% |
MATV
| Other | $208.7M | 45% |
| SAS Segment | $157.4M | 34% |
| FAM Segment | $97.0M | 21% |
