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Dutch Bros Inc.（BROS）与Reddit, Inc.（RDDT）财务数据对比。点击上方公司名可切换其他公司
Reddit, Inc.的季度营收约是Dutch Bros Inc.的1.5倍（$663.0M vs $443.6M），Reddit, Inc.净利率更高（30.8% vs 4.8%，领先26.0%），Reddit, Inc.同比增速更快（69.0% vs 29.4%），Reddit, Inc.自由现金流更多（$311.0M vs $8.5M），过去两年Reddit, Inc.的营收复合增速更高（53.6% vs 27.0%）
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。
Reddit是美国知名的社交新闻聚合与论坛类社交媒体平台，注册用户可发布链接、文字帖、图片、视频等各类内容，其他用户可对内容进行点赞或点踩，内容按主题归类到用户创建的子板块中，获赞更高的内容会排在板块前列，热度足够的内容还将展示在全站首页。
BROS vs RDDT — 直观对比
营收规模更大
RDDT
是对方的1.5倍
$443.6M
营收增速更快
RDDT
高出39.6%
29.4%
净利率更高
RDDT
高出26.0%
4.8%
自由现金流更多
RDDT
多$302.5M
$8.5M
两年增速更快
RDDT
近两年复合增速
27.0%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $443.6M | $663.0M |
| 净利润 | $21.4M | $204.0M |
| 毛利率 | 24.1% | 100.0% |
| 营业利润率 | 7.7% | 0.0% |
| 净利率 | 4.8% | 30.8% |
| 营收同比 | 29.4% | 69.0% |
| 净利润同比 | 491.6% | 680.0% |
| 每股收益（稀释后） | $0.17 | $1.01 |
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BROSRDDT
| Q1 26 | — | $663.0M | ||
| Q4 25 | $443.6M | $725.6M | ||
| Q3 25 | $423.6M | $584.9M | ||
| Q2 25 | $415.8M | $499.6M | ||
| Q1 25 | $355.2M | $392.4M | ||
| Q4 24 | $342.8M | $427.7M | ||
| Q3 24 | $338.2M | $348.4M | ||
| Q2 24 | $324.9M | $281.2M |
净利润BROSRDDT
| Q1 26 | — | $204.0M | ||
| Q4 25 | $21.4M | $251.6M | ||
| Q3 25 | $17.5M | $162.7M | ||
| Q2 25 | $25.6M | $89.3M | ||
| Q1 25 | $15.4M | $26.2M | ||
| Q4 24 | $3.6M | $71.0M | ||
| Q3 24 | $12.6M | $29.9M | ||
| Q2 24 | $11.9M | $-10.1M |
毛利率BROSRDDT
| Q1 26 | — | 100.0% | ||
| Q4 25 | 24.1% | 91.9% | ||
| Q3 25 | 25.2% | 91.0% | ||
| Q2 25 | 28.9% | 90.8% | ||
| Q1 25 | 25.3% | 90.5% | ||
| Q4 24 | 25.7% | 92.6% | ||
| Q3 24 | 26.6% | 90.1% | ||
| Q2 24 | 27.8% | 89.5% |
营业利润率BROSRDDT
| Q1 26 | — | 0.0% | ||
| Q4 25 | 7.7% | 31.9% | ||
| Q3 25 | 9.8% | 23.7% | ||
| Q2 25 | 13.1% | 13.6% | ||
| Q1 25 | 8.7% | 1.0% | ||
| Q4 24 | 4.6% | 12.4% | ||
| Q3 24 | 9.6% | 2.0% | ||
| Q2 24 | 9.9% | -11.0% |
净利率BROSRDDT
| Q1 26 | — | 30.8% | ||
| Q4 25 | 4.8% | 34.7% | ||
| Q3 25 | 4.1% | 27.8% | ||
| Q2 25 | 6.2% | 17.9% | ||
| Q1 25 | 4.3% | 6.7% | ||
| Q4 24 | 1.1% | 16.6% | ||
| Q3 24 | 3.7% | 8.6% | ||
| Q2 24 | 3.7% | -3.6% |
每股收益（稀释后）BROSRDDT
| Q1 26 | — | $1.01 | ||
| Q4 25 | $0.17 | $1.24 | ||
| Q3 25 | $0.14 | $0.80 | ||
| Q2 25 | $0.20 | $0.45 | ||
| Q1 25 | $0.13 | $0.13 | ||
| Q4 24 | $0.03 | $4.76 | ||
| Q3 24 | $0.11 | $0.16 | ||
| Q2 24 | $0.12 | $-0.06 |
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 | $269.4M | $1.4B |
| 总债务越低越好 | $202.5M | — |
| 股东权益账面价值 | $680.8M | $3.2B |
| 总资产 | $3.0B | $3.5B |
| 负债/权益比越低杠杆越低 | 0.30× | — |
8季度趋势，按日历期对齐
现金及短期投资BROSRDDT
| Q1 26 | — | $1.4B | ||
| Q4 25 | $269.4M | $953.6M | ||
| Q3 25 | $267.2M | $911.7M | ||
| Q2 25 | $254.4M | $734.1M | ||
| Q1 25 | $316.4M | $635.7M | ||
| Q4 24 | $293.4M | $562.1M | ||
| Q3 24 | $281.1M | $515.9M | ||
| Q2 24 | $260.9M | $468.0M |
总债务BROSRDDT
| Q1 26 | — | — | ||
| 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BROSRDDT
| Q1 26 | — | $3.2B | ||
| Q4 25 | $680.8M | $2.9B | ||
| Q3 25 | $656.6M | $2.6B | ||
| Q2 25 | $636.2M | $2.4B | ||
| Q1 25 | $599.1M | $2.2B | ||
| Q4 24 | $537.4M | $2.1B | ||
| Q3 24 | $523.1M | $2.0B | ||
| Q2 24 | $509.1M | $1.9B |
总资产BROSRDDT
| Q1 26 | — | $3.5B | ||
| Q4 25 | $3.0B | $3.2B | ||
| Q3 25 | $2.9B | $2.9B | ||
| Q2 25 | $2.8B | $2.6B | ||
| Q1 25 | $2.8B | $2.4B | ||
| Q4 24 | $2.5B | $2.3B | ||
| Q3 24 | $2.4B | $2.2B | ||
| Q2 24 | $2.4B | $2.1B |
负债/权益比BROSRDDT
| Q1 26 | — | — | ||
| 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 | $79.6M | — |
| 自由现金流经营现金流 - 资本支出 | $8.5M | $311.0M |
| 自由现金流率自由现金流/营收 | 1.9% | 46.9% |
| 资本支出强度资本支出/营收 | 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 | $868.6M |
8季度趋势，按日历期对齐
经营现金流BROSRDDT
| Q1 26 | — | — | ||
| Q4 25 | $79.6M | $266.8M | ||
| Q3 25 | $89.1M | $185.2M | ||
| Q2 25 | $89.9M | $111.3M | ||
| Q1 25 | $36.9M | $127.6M | ||
| Q4 24 | $62.2M | $90.0M | ||
| Q3 24 | $83.5M | $71.6M | ||
| Q2 24 | $59.5M | $28.4M |
自由现金流BROSRDDT
| Q1 26 | — | $311.0M | ||
| Q4 25 | $8.5M | $263.6M | ||
| Q3 25 | $18.9M | $183.1M | ||
| Q2 25 | $35.7M | $110.8M | ||
| Q1 25 | $-8.7M | $126.6M | ||
| Q4 24 | $19.5M | $89.2M | ||
| Q3 24 | $26.4M | $70.3M | ||
| Q2 24 | $-4.9M | $27.2M |
自由现金流率BROSRDDT
| Q1 26 | — | 46.9% | ||
| Q4 25 | 1.9% | 36.3% | ||
| Q3 25 | 4.5% | 31.3% | ||
| Q2 25 | 8.6% | 22.2% | ||
| Q1 25 | -2.4% | 32.3% | ||
| Q4 24 | 5.7% | 20.8% | ||
| Q3 24 | 7.8% | 20.2% | ||
| Q2 24 | -1.5% | 9.7% |
资本支出强度BROSRDDT
| Q1 26 | — | — | ||
| Q4 25 | 16.0% | 0.4% | ||
| Q3 25 | 16.6% | 0.4% | ||
| Q2 25 | 13.0% | 0.1% | ||
| Q1 25 | 12.8% | 0.2% | ||
| Q4 24 | 12.5% | 0.2% | ||
| Q3 24 | 16.9% | 0.4% | ||
| Q2 24 | 19.8% | 0.4% |
现金转化率BROSRDDT
| Q1 26 | — | — | ||
| Q4 25 | 3.73× | 1.06× | ||
| Q3 25 | 5.09× | 1.14× | ||
| Q2 25 | 3.51× | 1.25× | ||
| Q1 25 | 2.40× | 4.88× | ||
| Q4 24 | 17.23× | 1.27× | ||
| Q3 24 | 6.60× | 2.40× | ||
| 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 | $409.6M | 92% |
| Franchise Fees | $32.3M | 7% |
| Other | $1.8M | 0% |
RDDT
暂无分部数据
