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Dutch Bros Inc.（BROS）与GIBRALTAR INDUSTRIES, INC.（ROCK）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GIBRALTAR INDUSTRIES, INC.的2.0倍（$443.6M vs $225.0M），Dutch Bros Inc.同比增速更快（29.4% vs 24.9%），GIBRALTAR INDUSTRIES, INC.自由现金流更多（$26.2M vs $8.5M），过去两年Dutch Bros Inc.的营收复合增速更高（27.0% vs -12.3%）
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。
直布罗陀工业公司是专业建筑、基础设施及可再生能源产品制造商与分销商，主营通风系统、屋面配件、太阳能安装支架、园林景观产品等，主要服务北美地区住宅、商业建筑及清洁能源市场，专注提供创新可持续的客户解决方案。
BROS vs ROCK — 直观对比
营收规模更大
BROS
是对方的2.0倍
$225.0M
营收增速更快
BROS
高出4.5%
24.9%
自由现金流更多
ROCK
多$17.7M
$8.5M
两年增速更快
BROS
近两年复合增速
-12.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $443.6M | $225.0M |
| 净利润 | $21.4M | — |
| 毛利率 | 24.1% | 25.3% |
| 营业利润率 | 7.7% | 7.9% |
| 净利率 | 4.8% | — |
| 营收同比 | 29.4% | 24.9% |
| 净利润同比 | 491.6% | — |
| 每股收益（稀释后） | $0.17 | — |
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BROSROCK
| Q4 25 | $443.6M | $225.0M | ||
| Q3 25 | $423.6M | $310.9M | ||
| Q2 25 | $415.8M | $309.5M | ||
| Q1 25 | $355.2M | $290.0M | ||
| Q4 24 | $342.8M | $180.1M | ||
| Q3 24 | $338.2M | $277.1M | ||
| Q2 24 | $324.9M | $273.6M | ||
| Q1 24 | $275.1M | $292.5M |
净利润BROSROCK
| Q4 25 | $21.4M | — | ||
| Q3 25 | $17.5M | $-89.1M | ||
| Q2 25 | $25.6M | $26.0M | ||
| Q1 25 | $15.4M | $21.1M | ||
| Q4 24 | $3.6M | — | ||
| Q3 24 | $12.6M | $34.0M | ||
| Q2 24 | $11.9M | $32.2M | ||
| Q1 24 | $7.1M | $24.9M |
毛利率BROSROCK
| Q4 25 | 24.1% | 25.3% | ||
| Q3 25 | 25.2% | 26.6% | ||
| Q2 25 | 28.9% | 28.4% | ||
| Q1 25 | 25.3% | 26.8% | ||
| Q4 24 | 25.7% | 29.0% | ||
| Q3 24 | 26.6% | 29.4% | ||
| Q2 24 | 27.8% | 30.5% | ||
| Q1 24 | 26.1% | 28.9% |
营业利润率BROSROCK
| Q4 25 | 7.7% | 7.9% | ||
| Q3 25 | 9.8% | 12.8% | ||
| Q2 25 | 13.1% | 12.8% | ||
| Q1 25 | 8.7% | 8.8% | ||
| Q4 24 | 4.6% | 13.3% | ||
| Q3 24 | 9.6% | 15.6% | ||
| Q2 24 | 9.9% | 14.9% | ||
| Q1 24 | 9.3% | 10.8% |
净利率BROSROCK
| Q4 25 | 4.8% | — | ||
| Q3 25 | 4.1% | -28.6% | ||
| Q2 25 | 6.2% | 8.4% | ||
| Q1 25 | 4.3% | 7.3% | ||
| Q4 24 | 1.1% | — | ||
| Q3 24 | 3.7% | 12.3% | ||
| Q2 24 | 3.7% | 11.8% | ||
| Q1 24 | 2.6% | 8.5% |
每股收益（稀释后）BROSROCK
| Q4 25 | $0.17 | — | ||
| Q3 25 | $0.14 | $-2.98 | ||
| Q2 25 | $0.20 | $0.87 | ||
| Q1 25 | $0.13 | — | ||
| Q4 24 | $0.03 | — | ||
| Q3 24 | $0.11 | $1.11 | ||
| Q2 24 | $0.12 | $1.05 | ||
| Q1 24 | $0.08 | — |
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 | $115.7M |
| 总债务越低越好 | $202.5M | $0 |
| 股东权益账面价值 | $680.8M | $950.4M |
| 总资产 | $3.0B | $1.4B |
| 负债/权益比越低杠杆越低 | 0.30× | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资BROSROCK
| Q4 25 | $269.4M | $115.7M | ||
| Q3 25 | $267.2M | $89.4M | ||
| Q2 25 | $254.4M | $43.3M | ||
| Q1 25 | $316.4M | $25.1M | ||
| Q4 24 | $293.4M | $269.5M | ||
| Q3 24 | $281.1M | $228.9M | ||
| Q2 24 | $260.9M | $179.1M | ||
| Q1 24 | $262.7M | $146.7M |
总债务BROSROCK
| Q4 25 | $202.5M | $0 | ||
| Q3 25 | $202.3M | $0 | ||
| Q2 25 | $203.3M | $0 | ||
| Q1 25 | $284.2M | $0 | ||
| Q4 24 | $238.0M | $0 | ||
| Q3 24 | $241.2M | $0 | ||
| Q2 24 | $244.3M | $0 | ||
| Q1 24 | $247.5M | $0 |
股东权益BROSROCK
| Q4 25 | $680.8M | $950.4M | ||
| Q3 25 | $656.6M | $951.8M | ||
| Q2 25 | $636.2M | $1.0B | ||
| Q1 25 | $599.1M | $1.0B | ||
| Q4 24 | $537.4M | $1.0B | ||
| Q3 24 | $523.1M | $1.0B | ||
| Q2 24 | $509.1M | $975.7M | ||
| Q1 24 | $417.1M | $940.2M |
总资产BROSROCK
| Q4 25 | $3.0B | $1.4B | ||
| Q3 25 | $2.9B | $1.4B | ||
| Q2 25 | $2.8B | $1.5B | ||
| Q1 25 | $2.8B | $1.4B | ||
| Q4 24 | $2.5B | $1.4B | ||
| Q3 24 | $2.4B | $1.4B | ||
| Q2 24 | $2.4B | $1.4B | ||
| Q1 24 | $2.1B | $1.3B |
负债/权益比BROSROCK
| Q4 25 | 0.30× | 0.00× | ||
| Q3 25 | 0.31× | 0.00× | ||
| Q2 25 | 0.32× | 0.00× | ||
| Q1 25 | 0.47× | 0.00× | ||
| Q4 24 | 0.44× | 0.00× | ||
| Q3 24 | 0.46× | 0.00× | ||
| Q2 24 | 0.48× | 0.00× | ||
| Q1 24 | 0.59× | 0.00× |
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 | $35.5M |
| 自由现金流经营现金流 - 资本支出 | $8.5M | $26.2M |
| 自由现金流率自由现金流/营收 | 1.9% | 11.7% |
| 资本支出强度资本支出/营收 | 16.0% | 4.1% |
| 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 | $120.6M |
8季度趋势，按日历期对齐
经营现金流BROSROCK
| Q4 25 | $79.6M | $35.5M | ||
| Q3 25 | $89.1M | $73.0M | ||
| Q2 25 | $89.9M | $44.9M | ||
| Q1 25 | $36.9M | $13.7M | ||
| Q4 24 | $62.2M | $19.9M | ||
| Q3 24 | $83.5M | $64.7M | ||
| Q2 24 | $59.5M | $36.5M | ||
| Q1 24 | $41.2M | $53.2M |
自由现金流BROSROCK
| Q4 25 | $8.5M | $26.2M | ||
| Q3 25 | $18.9M | $64.8M | ||
| Q2 25 | $35.7M | $27.3M | ||
| Q1 25 | $-8.7M | $2.3M | ||
| Q4 24 | $19.5M | $14.1M | ||
| Q3 24 | $26.4M | $60.5M | ||
| Q2 24 | $-4.9M | $33.5M | ||
| Q1 24 | $-16.3M | $48.8M |
自由现金流率BROSROCK
| Q4 25 | 1.9% | 11.7% | ||
| Q3 25 | 4.5% | 20.8% | ||
| Q2 25 | 8.6% | 8.8% | ||
| Q1 25 | -2.4% | 0.8% | ||
| Q4 24 | 5.7% | 7.8% | ||
| Q3 24 | 7.8% | 21.8% | ||
| Q2 24 | -1.5% | 12.2% | ||
| Q1 24 | -5.9% | 16.7% |
资本支出强度BROSROCK
| Q4 25 | 16.0% | 4.1% | ||
| Q3 25 | 16.6% | 2.6% | ||
| Q2 25 | 13.0% | 5.7% | ||
| Q1 25 | 12.8% | 3.9% | ||
| Q4 24 | 12.5% | 3.3% | ||
| Q3 24 | 16.9% | 1.5% | ||
| Q2 24 | 19.8% | 1.1% | ||
| Q1 24 | 20.9% | 1.5% |
现金转化率BROSROCK
| Q4 25 | 3.73× | — | ||
| Q3 25 | 5.09× | — | ||
| Q2 25 | 3.51× | 1.73× | ||
| Q1 25 | 2.40× | 0.65× | ||
| Q4 24 | 17.23× | — | ||
| Q3 24 | 6.60× | 1.90× | ||
| Q2 24 | 4.99× | 1.13× | ||
| Q1 24 | 5.83× | 2.13× |
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% |
ROCK
| Transferred At Point In Time | $183.5M | 82% |
| Infrastructure | $22.5M | 10% |
| Other | $18.9M | 8% |
