vs
Dutch Bros Inc.（BROS）与UiPath, Inc.（PATH）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UiPath, Inc.的1.1倍（$464.4M vs $411.1M），UiPath, Inc.净利率更高（48.4% vs 5.1%，领先43.3%），Dutch Bros Inc.同比增速更快（30.8% vs 15.9%），过去两年Dutch Bros Inc.的营收复合增速更高（19.6% vs 0.7%）
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。
UiPath是一家全球化软件企业，专注于开发人工智能、智能自动化及流程编排类软件，其产品支持用户搭建与调度AI代理，实现复杂业务流程、工作流的自动化运行，助力各行业客户提升运营效率、降低人力成本。
BROS vs PATH — 直观对比
营收规模更大
BROS
是对方的1.1倍
$411.1M
营收增速更快
BROS
高出14.8%
15.9%
净利率更高
PATH
高出43.3%
5.1%
两年增速更快
BROS
近两年复合增速
0.7%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $464.4M | $411.1M |
| 净利润 | $23.7M | $198.8M |
| 毛利率 | 23.1% | 83.3% |
| 营业利润率 | 7.4% | 3.2% |
| 净利率 | 5.1% | 48.4% |
| 营收同比 | 30.8% | 15.9% |
| 净利润同比 | 5.3% | 1966.2% |
| 每股收益（稀释后） | $0.13 | $0.37 |
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BROSPATH
| Q1 26 | $464.4M | — | ||
| Q4 25 | $443.6M | $411.1M | ||
| Q3 25 | $423.6M | $361.7M | ||
| Q2 25 | $415.8M | $356.6M | ||
| Q1 25 | $355.2M | $423.6M | ||
| Q4 24 | $342.8M | $354.7M | ||
| Q3 24 | $338.2M | $316.3M | ||
| Q2 24 | $324.9M | $335.1M |
净利润BROSPATH
| Q1 26 | $23.7M | — | ||
| Q4 25 | $21.4M | $198.8M | ||
| Q3 25 | $17.5M | $1.6M | ||
| Q2 25 | $25.6M | $-22.6M | ||
| Q1 25 | $15.4M | $51.8M | ||
| Q4 24 | $3.6M | $-10.7M | ||
| Q3 24 | $12.6M | $-86.1M | ||
| Q2 24 | $11.9M | $-28.7M |
毛利率BROSPATH
| Q1 26 | 23.1% | — | ||
| Q4 25 | 24.1% | 83.3% | ||
| Q3 25 | 25.2% | 82.2% | ||
| Q2 25 | 28.9% | 82.1% | ||
| Q1 25 | 25.3% | 84.8% | ||
| Q4 24 | 25.7% | 82.0% | ||
| Q3 24 | 26.6% | 80.0% | ||
| Q2 24 | 27.8% | 83.5% |
营业利润率BROSPATH
| Q1 26 | 7.4% | — | ||
| Q4 25 | 7.7% | 3.2% | ||
| Q3 25 | 9.8% | -5.6% | ||
| Q2 25 | 13.1% | -4.6% | ||
| Q1 25 | 8.7% | 7.9% | ||
| Q4 24 | 4.6% | -12.2% | ||
| Q3 24 | 9.6% | -32.7% | ||
| Q2 24 | 9.9% | -14.8% |
净利率BROSPATH
| Q1 26 | 5.1% | — | ||
| Q4 25 | 4.8% | 48.4% | ||
| Q3 25 | 4.1% | 0.4% | ||
| Q2 25 | 6.2% | -6.3% | ||
| Q1 25 | 4.3% | 12.2% | ||
| Q4 24 | 1.1% | -3.0% | ||
| Q3 24 | 3.7% | -27.2% | ||
| Q2 24 | 3.7% | -8.6% |
每股收益（稀释后）BROSPATH
| Q1 26 | $0.13 | — | ||
| Q4 25 | $0.17 | $0.37 | ||
| Q3 25 | $0.14 | $0.00 | ||
| Q2 25 | $0.20 | $-0.04 | ||
| Q1 25 | $0.13 | $0.09 | ||
| Q4 24 | $0.03 | $-0.02 | ||
| Q3 24 | $0.11 | $-0.15 | ||
| Q2 24 | $0.12 | $-0.05 |
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 | $1.4B |
| 总债务越低越好 | $199.3M | — |
| 股东权益账面价值 | $920.5M | $1.9B |
| 总资产 | $3.1B | $2.9B |
| 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BROSPATH
| Q1 26 | $263.5M | — | ||
| Q4 25 | $269.4M | $1.4B | ||
| Q3 25 | $267.2M | $1.4B | ||
| Q2 25 | $254.4M | $1.6B | ||
| Q1 25 | $316.4M | $1.6B | ||
| Q4 24 | $293.4M | $1.6B | ||
| Q3 24 | $281.1M | $1.7B | ||
| Q2 24 | $260.9M | $1.9B |
总债务BROSPATH
| 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BROSPATH
| Q1 26 | $920.5M | — | ||
| Q4 25 | $680.8M | $1.9B | ||
| Q3 25 | $656.6M | $1.7B | ||
| Q2 25 | $636.2M | $1.7B | ||
| Q1 25 | $599.1M | $1.8B | ||
| Q4 24 | $537.4M | $1.7B | ||
| Q3 24 | $523.1M | $1.8B | ||
| Q2 24 | $509.1M | $2.0B |
总资产BROSPATH
| Q1 26 | $3.1B | — | ||
| Q4 25 | $3.0B | $2.9B | ||
| Q3 25 | $2.9B | $2.6B | ||
| Q2 25 | $2.8B | $2.6B | ||
| Q1 25 | $2.8B | $2.9B | ||
| Q4 24 | $2.5B | $2.7B | ||
| Q3 24 | $2.4B | $2.7B | ||
| Q2 24 | $2.4B | $2.8B |
负债/权益比BROSPATH
| 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 | $28.3M |
| 自由现金流经营现金流 - 资本支出 | — | $25.1M |
| 自由现金流率自由现金流/营收 | — | 6.1% |
| 资本支出强度资本支出/营收 | — | 0.8% |
| 现金转化率经营现金流/净利润 | 3.58× | 0.14× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流BROSPATH
| Q1 26 | $84.7M | — | ||
| Q4 25 | $79.6M | $28.3M | ||
| Q3 25 | $89.1M | $41.6M | ||
| Q2 25 | $89.9M | $119.0M | ||
| Q1 25 | $36.9M | $146.1M | ||
| Q4 24 | $62.2M | $28.1M | ||
| Q3 24 | $83.5M | $46.4M | ||
| Q2 24 | $59.5M | $100.0M |
自由现金流BROSPATH
| Q1 26 | — | — | ||
| Q4 25 | $8.5M | $25.1M | ||
| Q3 25 | $18.9M | — | ||
| Q2 25 | $35.7M | $106.2M | ||
| Q1 25 | $-8.7M | $138.7M | ||
| Q4 24 | $19.5M | $23.2M | ||
| Q3 24 | $26.4M | $45.0M | ||
| Q2 24 | $-4.9M | $98.8M |
自由现金流率BROSPATH
| Q1 26 | — | — | ||
| Q4 25 | 1.9% | 6.1% | ||
| Q3 25 | 4.5% | — | ||
| Q2 25 | 8.6% | 29.8% | ||
| Q1 25 | -2.4% | 32.7% | ||
| Q4 24 | 5.7% | 6.5% | ||
| Q3 24 | 7.8% | 14.2% | ||
| Q2 24 | -1.5% | 29.5% |
资本支出强度BROSPATH
| Q1 26 | — | — | ||
| Q4 25 | 16.0% | 0.8% | ||
| Q3 25 | 16.6% | 0.0% | ||
| Q2 25 | 13.0% | 3.6% | ||
| Q1 25 | 12.8% | 1.7% | ||
| Q4 24 | 12.5% | 1.4% | ||
| Q3 24 | 16.9% | 0.4% | ||
| Q2 24 | 19.8% | 0.4% |
现金转化率BROSPATH
| Q1 26 | 3.58× | — | ||
| Q4 25 | 3.73× | 0.14× | ||
| Q3 25 | 5.09× | 26.25× | ||
| Q2 25 | 3.51× | — | ||
| Q1 25 | 2.40× | 2.82× | ||
| Q4 24 | 17.23× | — | ||
| 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% |
PATH
| Subscription Services | $247.6M | 60% |
| License | $150.0M | 36% |
| Professional Services And Other | $13.5M | 3% |
