vs
Dutch Bros Inc.（BROS）与Rackspace Technology, Inc.（RXT）财务数据对比。点击上方公司名可切换其他公司
Rackspace Technology, Inc.的季度营收约是Dutch Bros Inc.的1.5倍（$682.8M vs $443.6M），Dutch Bros Inc.净利率更高（4.8% vs -4.8%，领先9.6%），Dutch Bros Inc.同比增速更快（29.4% vs -0.4%），Rackspace Technology, Inc.自由现金流更多（$56.0M vs $8.5M），过去两年Dutch Bros Inc.的营收复合增速更高（27.0% vs -0.6%）
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。
Rackspace Technology, Inc.是总部位于美国得克萨斯州圣安东尼奥的云计算企业，在弗吉尼亚州雷斯顿以及澳大利亚、加拿大、英国、印度、迪拜、瑞士、荷兰、德国、新加坡、墨西哥、中国香港等多个国家和地区设有办事处，数据中心分布于全球多个主要城市，为客户提供专业的云计算相关服务。
BROS vs RXT — 直观对比
营收规模更大
RXT
是对方的1.5倍
$443.6M
营收增速更快
BROS
高出29.8%
-0.4%
净利率更高
BROS
高出9.6%
-4.8%
自由现金流更多
RXT
多$47.5M
$8.5M
两年增速更快
BROS
近两年复合增速
-0.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $443.6M | $682.8M |
| 净利润 | $21.4M | $-32.7M |
| 毛利率 | 24.1% | 17.6% |
| 营业利润率 | 7.7% | -0.5% |
| 净利率 | 4.8% | -4.8% |
| 营收同比 | 29.4% | -0.4% |
| 净利润同比 | 491.6% | 41.6% |
| 每股收益（稀释后） | $0.17 | $-0.13 |
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BROSRXT
| Q4 25 | $443.6M | $682.8M | ||
| Q3 25 | $423.6M | $671.2M | ||
| Q2 25 | $415.8M | $666.3M | ||
| Q1 25 | $355.2M | $665.4M | ||
| Q4 24 | $342.8M | $685.6M | ||
| Q3 24 | $338.2M | $675.8M | ||
| Q2 24 | $324.9M | $684.9M | ||
| Q1 24 | $275.1M | $690.8M |
净利润BROSRXT
| Q4 25 | $21.4M | $-32.7M | ||
| Q3 25 | $17.5M | $-67.1M | ||
| Q2 25 | $25.6M | $-54.5M | ||
| Q1 25 | $15.4M | $-71.5M | ||
| Q4 24 | $3.6M | $-56.0M | ||
| Q3 24 | $12.6M | $-186.6M | ||
| Q2 24 | $11.9M | $25.0M | ||
| Q1 24 | $7.1M | $-640.6M |
毛利率BROSRXT
| Q4 25 | 24.1% | 17.6% | ||
| Q3 25 | 25.2% | 19.4% | ||
| Q2 25 | 28.9% | 19.4% | ||
| Q1 25 | 25.3% | 19.1% | ||
| Q4 24 | 25.7% | 19.2% | ||
| Q3 24 | 26.6% | 20.3% | ||
| Q2 24 | 27.8% | 19.2% | ||
| Q1 24 | 26.1% | 19.2% |
营业利润率BROSRXT
| Q4 25 | 7.7% | -0.5% | ||
| Q3 25 | 9.8% | -5.1% | ||
| Q2 25 | 13.1% | -3.8% | ||
| Q1 25 | 8.7% | -5.8% | ||
| Q4 24 | 4.6% | -4.2% | ||
| Q3 24 | 9.6% | -25.7% | ||
| Q2 24 | 9.9% | -7.9% | ||
| Q1 24 | 9.3% | -94.5% |
净利率BROSRXT
| Q4 25 | 4.8% | -4.8% | ||
| Q3 25 | 4.1% | -10.0% | ||
| Q2 25 | 6.2% | -8.2% | ||
| Q1 25 | 4.3% | -10.7% | ||
| Q4 24 | 1.1% | -8.2% | ||
| Q3 24 | 3.7% | -27.6% | ||
| Q2 24 | 3.7% | 3.7% | ||
| Q1 24 | 2.6% | -92.7% |
每股收益（稀释后）BROSRXT
| Q4 25 | $0.17 | $-0.13 | ||
| Q3 25 | $0.14 | $-0.28 | ||
| Q2 25 | $0.20 | $-0.23 | ||
| Q1 25 | $0.13 | $-0.31 | ||
| Q4 24 | $0.03 | $-0.20 | ||
| Q3 24 | $0.11 | $-0.82 | ||
| Q2 24 | $0.12 | $0.11 | ||
| Q1 24 | $0.08 | $-2.91 |
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 | $105.8M |
| 总债务越低越好 | $202.5M | $2.7B |
| 股东权益账面价值 | $680.8M | $-1.2B |
| 总资产 | $3.0B | $2.8B |
| 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BROSRXT
| Q4 25 | $269.4M | $105.8M | ||
| Q3 25 | $267.2M | $99.5M | ||
| Q2 25 | $254.4M | $103.9M | ||
| Q1 25 | $316.4M | $128.0M | ||
| Q4 24 | $293.4M | $144.0M | ||
| Q3 24 | $281.1M | $157.1M | ||
| Q2 24 | $260.9M | $190.2M | ||
| Q1 24 | $262.7M | $282.6M |
总债务BROSRXT
| Q4 25 | $202.5M | $2.7B | ||
| Q3 25 | $202.3M | $2.8B | ||
| Q2 25 | $203.3M | $2.8B | ||
| Q1 25 | $284.2M | $2.8B | ||
| Q4 24 | $238.0M | $2.8B | ||
| Q3 24 | $241.2M | $2.8B | ||
| Q2 24 | $244.3M | $2.9B | ||
| Q1 24 | $247.5M | $3.0B |
股东权益BROSRXT
| Q4 25 | $680.8M | $-1.2B | ||
| Q3 25 | $656.6M | $-1.2B | ||
| Q2 25 | $636.2M | $-1.1B | ||
| Q1 25 | $599.1M | $-1.1B | ||
| Q4 24 | $537.4M | $-1.0B | ||
| Q3 24 | $523.1M | $-949.7M | ||
| Q2 24 | $509.1M | $-756.2M | ||
| Q1 24 | $417.1M | $-787.2M |
总资产BROSRXT
| Q4 25 | $3.0B | $2.8B | ||
| Q3 25 | $2.9B | $2.8B | ||
| Q2 25 | $2.8B | $2.9B | ||
| Q1 25 | $2.8B | $3.0B | ||
| Q4 24 | $2.5B | $3.1B | ||
| Q3 24 | $2.4B | $3.1B | ||
| Q2 24 | $2.4B | $3.4B | ||
| Q1 24 | $2.1B | $3.5B |
负债/权益比BROSRXT
| 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× | — | ||
| Q1 24 | 0.59× | — |
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 | $59.7M |
| 自由现金流经营现金流 - 资本支出 | $8.5M | $56.0M |
| 自由现金流率自由现金流/营收 | 1.9% | 8.2% |
| 资本支出强度资本支出/营收 | 16.0% | 0.5% |
| 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 | $90.6M |
8季度趋势，按日历期对齐
经营现金流BROSRXT
| Q4 25 | $79.6M | $59.7M | ||
| Q3 25 | $89.1M | $70.7M | ||
| Q2 25 | $89.9M | $8.4M | ||
| Q1 25 | $36.9M | $12.6M | ||
| Q4 24 | $62.2M | $54.3M | ||
| Q3 24 | $83.5M | $51.8M | ||
| Q2 24 | $59.5M | $24.1M | ||
| Q1 24 | $41.2M | $-90.3M |
自由现金流BROSRXT
| Q4 25 | $8.5M | $56.0M | ||
| Q3 25 | $18.9M | $42.7M | ||
| Q2 25 | $35.7M | $-12.4M | ||
| Q1 25 | $-8.7M | $4.3M | ||
| Q4 24 | $19.5M | $34.4M | ||
| Q3 24 | $26.4M | $27.3M | ||
| Q2 24 | $-4.9M | $-14.5M | ||
| Q1 24 | $-16.3M | $-118.4M |
自由现金流率BROSRXT
| Q4 25 | 1.9% | 8.2% | ||
| Q3 25 | 4.5% | 6.4% | ||
| Q2 25 | 8.6% | -1.9% | ||
| Q1 25 | -2.4% | 0.6% | ||
| Q4 24 | 5.7% | 5.0% | ||
| Q3 24 | 7.8% | 4.0% | ||
| Q2 24 | -1.5% | -2.1% | ||
| Q1 24 | -5.9% | -17.1% |
资本支出强度BROSRXT
| Q4 25 | 16.0% | 0.5% | ||
| Q3 25 | 16.6% | 4.2% | ||
| Q2 25 | 13.0% | 3.1% | ||
| Q1 25 | 12.8% | 1.2% | ||
| Q4 24 | 12.5% | 2.9% | ||
| Q3 24 | 16.9% | 3.6% | ||
| Q2 24 | 19.8% | 5.6% | ||
| Q1 24 | 20.9% | 4.1% |
现金转化率BROSRXT
| Q4 25 | 3.73× | — | ||
| Q3 25 | 5.09× | — | ||
| Q2 25 | 3.51× | — | ||
| Q1 25 | 2.40× | — | ||
| Q4 24 | 17.23× | — | ||
| Q3 24 | 6.60× | — | ||
| Q2 24 | 4.99× | 0.96× | ||
| Q1 24 | 5.83× | — |
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% |
RXT
| Public Cloud Services Segment | $442.2M | 65% |
| Private Cloud Service Segment | $240.6M | 35% |
