vs
Dutch Bros Inc.（BROS）与Rithm Capital Corp.（RITM）财务数据对比。点击上方公司名可切换其他公司
Rithm Capital Corp.的季度营收约是Dutch Bros Inc.的1.9倍（$828.2M vs $443.6M），Rithm Capital Corp.净利率更高（13.2% vs 4.8%，领先8.4%），Rithm Capital Corp.同比增速更快（508.5% vs 29.4%），过去两年Dutch Bros Inc.的营收复合增速更高（27.0% vs -17.9%）
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。
Rithm Capital Corp.是总部位于美国纽约的投资管理机构，核心业务聚焦房地产投资与另类资产投资，依托专业的投研团队和成熟的市场运营经验，为合作伙伴及投资者提供优质的资产配置解决方案与长期收益回报。
BROS vs RITM — 直观对比
营收规模更大
RITM
是对方的1.9倍
$443.6M
营收增速更快
RITM
高出479.1%
29.4%
净利率更高
RITM
高出8.4%
4.8%
两年增速更快
BROS
近两年复合增速
-17.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $443.6M | $828.2M |
| 净利润 | $21.4M | $109.5M |
| 毛利率 | 24.1% | — |
| 营业利润率 | 7.7% | 29.9% |
| 净利率 | 4.8% | 13.2% |
| 营收同比 | 29.4% | 508.5% |
| 净利润同比 | 491.6% | 27.7% |
| 每股收益（稀释后） | $0.17 | $0.12 |
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BROSRITM
| Q1 26 | — | $828.2M | ||
| Q4 25 | $443.6M | $1.5B | ||
| Q3 25 | $423.6M | $1.1B | ||
| Q2 25 | $415.8M | $1.2B | ||
| Q1 25 | $355.2M | $768.4M | ||
| Q4 24 | $342.8M | $2.1B | ||
| Q3 24 | $338.2M | $619.5M | ||
| Q2 24 | $324.9M | $1.2B |
净利润BROSRITM
| Q1 26 | — | $109.5M | ||
| Q4 25 | $21.4M | $85.0M | ||
| Q3 25 | $17.5M | $221.5M | ||
| Q2 25 | $25.6M | $311.7M | ||
| Q1 25 | $15.4M | $78.8M | ||
| Q4 24 | $3.6M | $290.2M | ||
| Q3 24 | $12.6M | $121.7M | ||
| Q2 24 | $11.9M | $235.6M |
毛利率BROSRITM
| Q1 26 | — | — | ||
| Q4 25 | 24.1% | — | ||
| Q3 25 | 25.2% | — | ||
| Q2 25 | 28.9% | — | ||
| Q1 25 | 25.3% | — | ||
| Q4 24 | 25.7% | — | ||
| Q3 24 | 26.6% | — | ||
| Q2 24 | 27.8% | — |
营业利润率BROSRITM
| Q1 26 | — | 29.9% | ||
| Q4 25 | 7.7% | 13.8% | ||
| Q3 25 | 9.8% | 21.4% | ||
| Q2 25 | 13.1% | 25.2% | ||
| Q1 25 | 8.7% | 7.4% | ||
| Q4 24 | 4.6% | 23.8% | ||
| Q3 24 | 9.6% | 7.3% | ||
| Q2 24 | 9.9% | 23.6% |
净利率BROSRITM
| Q1 26 | — | 13.2% | ||
| Q4 25 | 4.8% | 5.7% | ||
| Q3 25 | 4.1% | 20.0% | ||
| Q2 25 | 6.2% | 25.6% | ||
| Q1 25 | 4.3% | 10.3% | ||
| Q4 24 | 1.1% | 14.0% | ||
| Q3 24 | 3.7% | 19.7% | ||
| Q2 24 | 3.7% | 19.2% |
每股收益（稀释后）BROSRITM
| Q1 26 | — | $0.12 | ||
| Q4 25 | $0.17 | $0.09 | ||
| Q3 25 | $0.14 | $0.35 | ||
| Q2 25 | $0.20 | $0.53 | ||
| Q1 25 | $0.13 | $0.07 | ||
| Q4 24 | $0.03 | $0.50 | ||
| Q3 24 | $0.11 | $0.20 | ||
| Q2 24 | $0.12 | $0.43 |
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 | — |
| 总债务越低越好 | $202.5M | — |
| 股东权益账面价值 | $680.8M | $9.1B |
| 总资产 | $3.0B | $53.4B |
| 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BROSRITM
| Q1 26 | — | — | ||
| Q4 25 | $269.4M | $1.8B | ||
| Q3 25 | $267.2M | $1.6B | ||
| Q2 25 | $254.4M | $1.6B | ||
| Q1 25 | $316.4M | $1.5B | ||
| Q4 24 | $293.4M | $1.5B | ||
| Q3 24 | $281.1M | $1.6B | ||
| Q2 24 | $260.9M | $1.2B |
总债务BROSRITM
| Q1 26 | — | — | ||
| Q4 25 | $202.5M | $35.4B | ||
| Q3 25 | $202.3M | $32.2B | ||
| Q2 25 | $203.3M | $31.2B | ||
| Q1 25 | $284.2M | $32.2B | ||
| Q4 24 | $238.0M | $32.6B | ||
| Q3 24 | $241.2M | $29.6B | ||
| Q2 24 | $244.3M | $30.1B |
股东权益BROSRITM
| Q1 26 | — | $9.1B | ||
| Q4 25 | $680.8M | $8.4B | ||
| Q3 25 | $656.6M | $8.5B | ||
| Q2 25 | $636.2M | $7.9B | ||
| Q1 25 | $599.1M | $7.8B | ||
| Q4 24 | $537.4M | $7.8B | ||
| Q3 24 | $523.1M | $7.7B | ||
| Q2 24 | $509.1M | $7.3B |
总资产BROSRITM
| Q1 26 | — | $53.4B | ||
| Q4 25 | $3.0B | $53.1B | ||
| Q3 25 | $2.9B | $47.2B | ||
| Q2 25 | $2.8B | $44.3B | ||
| Q1 25 | $2.8B | $45.3B | ||
| Q4 24 | $2.5B | $46.0B | ||
| Q3 24 | $2.4B | $42.3B | ||
| Q2 24 | $2.4B | $42.0B |
负债/权益比BROSRITM
| Q1 26 | — | — | ||
| Q4 25 | 0.30× | 4.20× | ||
| Q3 25 | 0.31× | 3.79× | ||
| Q2 25 | 0.32× | 3.92× | ||
| Q1 25 | 0.47× | 4.14× | ||
| Q4 24 | 0.44× | 4.18× | ||
| Q3 24 | 0.46× | 3.87× | ||
| Q2 24 | 0.48× | 4.10× |
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 | — |
| 自由现金流率自由现金流/营收 | 1.9% | — |
| 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 | — |
8季度趋势，按日历期对齐
经营现金流BROSRITM
| Q1 26 | — | — | ||
| Q4 25 | $79.6M | $-114.6M | ||
| Q3 25 | $89.1M | $-2.0B | ||
| Q2 25 | $89.9M | $-557.1M | ||
| Q1 25 | $36.9M | $1.4B | ||
| Q4 24 | $62.2M | $-1.8B | ||
| Q3 24 | $83.5M | $768.1M | ||
| Q2 24 | $59.5M | $-55.7M |
自由现金流BROSRITM
| Q1 26 | — | — | ||
| Q4 25 | $8.5M | — | ||
| Q3 25 | $18.9M | — | ||
| Q2 25 | $35.7M | — | ||
| Q1 25 | $-8.7M | — | ||
| Q4 24 | $19.5M | — | ||
| Q3 24 | $26.4M | — | ||
| Q2 24 | $-4.9M | — |
自由现金流率BROSRITM
| Q1 26 | — | — | ||
| Q4 25 | 1.9% | — | ||
| Q3 25 | 4.5% | — | ||
| Q2 25 | 8.6% | — | ||
| Q1 25 | -2.4% | — | ||
| Q4 24 | 5.7% | — | ||
| Q3 24 | 7.8% | — | ||
| Q2 24 | -1.5% | — |
资本支出强度BROSRITM
| Q1 26 | — | — | ||
| Q4 25 | 16.0% | — | ||
| Q3 25 | 16.6% | — | ||
| Q2 25 | 13.0% | — | ||
| Q1 25 | 12.8% | — | ||
| Q4 24 | 12.5% | — | ||
| Q3 24 | 16.9% | — | ||
| Q2 24 | 19.8% | — |
现金转化率BROSRITM
| Q1 26 | — | — | ||
| Q4 25 | 3.73× | -1.35× | ||
| Q3 25 | 5.09× | -9.22× | ||
| Q2 25 | 3.51× | -1.79× | ||
| Q1 25 | 2.40× | 18.03× | ||
| Q4 24 | 17.23× | -6.04× | ||
| Q3 24 | 6.60× | 6.31× | ||
| Q2 24 | 4.99× | -0.24× |
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 | $409.6M | 92% |
| Franchise Fees | $32.3M | 7% |
| Other | $1.8M | 0% |
RITM
| Servicing revenue, net | $375.1M | 45% |
| Other | $234.9M | 28% |
| Gain on originated residential mortgage loans, held-for-sale, net | $195.0M | 24% |
| Other revenue | $23.3M | 3% |
