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Chewy, Inc.（CHWY）与北极星（PII）财务数据对比。点击上方公司名可切换其他公司
Chewy, Inc.的季度营收约是北极星的1.9倍（$3.1B vs $1.7B），Chewy, Inc.净利率更高（1.9% vs -2.8%，领先4.7%），Chewy, Inc.同比增速更快（8.3% vs 8.0%），Chewy, Inc.自由现金流更多（$175.8M vs $-342.5M），过去两年Chewy, Inc.的营收复合增速更高（4.6% vs -8.0%）
Chewy Inc.是总部位于美国佛罗里达州普兰泰申的宠物用品线上零售商，主营宠物食品及各类宠物相关产品，2019年于纽约证券交易所挂牌上市，股票代码CHWY，是北美知名的宠物电商平台，为宠物主提供丰富可靠的一站式宠物消费选购服务。
北极星公司（Polaris Inc.）是总部位于美国明尼苏达州麦地那的机动车制造企业，创立于明尼苏达州罗索，当地目前仍保留其工程研发与生产设施。公司曾通过胜利摩托子公司生产摩托车，2011年收购印第安摩托品牌后转由该子公司运营摩托业务，此前还曾生产私人水上摩托艇产品。
CHWY vs PII — 直观对比
营收规模更大
CHWY
是对方的1.9倍
$1.7B
营收增速更快
CHWY
高出0.3%
8.0%
净利率更高
CHWY
高出4.7%
-2.8%
自由现金流更多
CHWY
多$518.3M
$-342.5M
两年增速更快
CHWY
近两年复合增速
-8.0%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.1B | $1.7B |
| 净利润 | $59.2M | $-47.2M |
| 毛利率 | 29.8% | 20.2% |
| 营业利润率 | 2.1% | — |
| 净利率 | 1.9% | -2.8% |
| 营收同比 | 8.3% | 8.0% |
| 净利润同比 | 1405.6% | 29.2% |
| 每股收益（稀释后） | $0.14 | $-0.83 |
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CHWYPII
| Q1 26 | — | $1.7B | ||
| Q4 25 | $3.1B | $1.9B | ||
| Q3 25 | $3.1B | $1.8B | ||
| Q2 25 | $3.1B | $1.9B | ||
| Q1 25 | $3.2B | $1.5B | ||
| Q4 24 | $2.9B | $1.8B | ||
| Q3 24 | $2.9B | $1.7B | ||
| Q2 24 | $2.9B | $2.0B |
净利润CHWYPII
| Q1 26 | — | $-47.2M | ||
| Q4 25 | $59.2M | $-303.6M | ||
| Q3 25 | $62.0M | $-15.8M | ||
| Q2 25 | $62.4M | $-79.3M | ||
| Q1 25 | $22.8M | $-66.8M | ||
| Q4 24 | $3.9M | $10.6M | ||
| Q3 24 | $299.1M | $27.7M | ||
| Q2 24 | $66.9M | $68.7M |
毛利率CHWYPII
| Q1 26 | — | 20.2% | ||
| Q4 25 | 29.8% | 20.0% | ||
| Q3 25 | 30.4% | 20.7% | ||
| Q2 25 | 29.6% | 19.4% | ||
| Q1 25 | 28.5% | 16.0% | ||
| Q4 24 | 29.3% | 20.4% | ||
| Q3 24 | 29.5% | 20.6% | ||
| Q2 24 | 29.7% | 21.6% |
营业利润率CHWYPII
| Q1 26 | — | — | ||
| Q4 25 | 2.1% | -16.7% | ||
| Q3 25 | 2.2% | 1.1% | ||
| Q2 25 | 2.5% | -0.7% | ||
| Q1 25 | -0.3% | -2.4% | ||
| Q4 24 | 0.9% | 3.7% | ||
| Q3 24 | 1.1% | 3.8% | ||
| Q2 24 | 2.2% | 6.1% |
净利率CHWYPII
| Q1 26 | — | -2.8% | ||
| Q4 25 | 1.9% | -15.8% | ||
| Q3 25 | 2.0% | -0.9% | ||
| Q2 25 | 2.0% | -4.3% | ||
| Q1 25 | 0.7% | -4.3% | ||
| Q4 24 | 0.1% | 0.6% | ||
| Q3 24 | 10.5% | 1.6% | ||
| Q2 24 | 2.3% | 3.5% |
每股收益（稀释后）CHWYPII
| Q1 26 | — | $-0.83 | ||
| Q4 25 | $0.14 | $-5.34 | ||
| Q3 25 | $0.14 | $-0.28 | ||
| Q2 25 | $0.15 | $-1.39 | ||
| Q1 25 | $0.07 | $-1.17 | ||
| Q4 24 | $0.01 | $0.18 | ||
| Q3 24 | $0.68 | $0.49 | ||
| Q2 24 | $0.15 | $1.21 |
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 | $701.5M | $282.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $469.4M | $750.4M |
| 总资产 | $3.3B | $5.2B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资CHWYPII
| Q1 26 | — | $282.0M | ||
| Q4 25 | $701.5M | $138.0M | ||
| Q3 25 | $591.8M | $335.5M | ||
| Q2 25 | $616.4M | $324.3M | ||
| Q1 25 | $596.7M | $291.7M | ||
| Q4 24 | $507.5M | $287.8M | ||
| Q3 24 | $695.0M | $291.3M | ||
| Q2 24 | $1.1B | $322.7M |
总债务CHWYPII
| Q1 26 | — | — | ||
| Q4 25 | — | $1.5B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $1.6B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $2.1B |
股东权益CHWYPII
| Q1 26 | — | $750.4M | ||
| Q4 25 | $469.4M | $828.4M | ||
| Q3 25 | $389.9M | $1.1B | ||
| Q2 25 | $375.6M | $1.2B | ||
| Q1 25 | $261.5M | $1.2B | ||
| Q4 24 | $223.4M | $1.3B | ||
| Q3 24 | $486.7M | $1.3B | ||
| Q2 24 | $642.9M | $1.3B |
总资产CHWYPII
| Q1 26 | — | $5.2B | ||
| Q4 25 | $3.3B | $4.9B | ||
| Q3 25 | $3.1B | $5.3B | ||
| Q2 25 | $3.1B | $5.4B | ||
| Q1 25 | $3.0B | $5.5B | ||
| Q4 24 | $3.0B | $5.5B | ||
| Q3 24 | $3.1B | $5.6B | ||
| Q2 24 | $3.2B | $5.7B |
负债/权益比CHWYPII
| Q1 26 | — | — | ||
| Q4 25 | — | 1.82× | ||
| Q3 25 | — | 1.13× | ||
| Q2 25 | — | 1.17× | ||
| Q1 25 | — | 1.32× | ||
| Q4 24 | — | 1.27× | ||
| Q3 24 | — | 1.29× | ||
| Q2 24 | — | 1.56× |
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 | $207.9M | — |
| 自由现金流经营现金流 - 资本支出 | $175.8M | $-342.5M |
| 自由现金流率自由现金流/营收 | 5.6% | -20.6% |
| 资本支出强度资本支出/营收 | 1.0% | — |
| 现金转化率经营现金流/净利润 | 3.51× | — |
| 过去12个月自由现金流最近4个季度 | $487.0M | $168.0M |
8季度趋势，按日历期对齐
经营现金流CHWYPII
| Q1 26 | — | — | ||
| Q4 25 | $207.9M | $178.7M | ||
| Q3 25 | $133.9M | $158.8M | ||
| Q2 25 | $86.4M | $320.3M | ||
| Q1 25 | $207.5M | $83.2M | ||
| Q4 24 | $183.5M | $206.3M | ||
| Q3 24 | $123.4M | $21.0M | ||
| Q2 24 | $81.9M | $146.3M |
自由现金流CHWYPII
| Q1 26 | — | $-342.5M | ||
| Q4 25 | $175.8M | $114.0M | ||
| Q3 25 | $105.9M | $116.7M | ||
| Q2 25 | $48.7M | $279.8M | ||
| Q1 25 | $156.6M | $47.6M | ||
| Q4 24 | $151.8M | $137.3M | ||
| Q3 24 | $91.5M | $-32.4M | ||
| Q2 24 | $52.6M | $79.1M |
自由现金流率CHWYPII
| Q1 26 | — | -20.6% | ||
| Q4 25 | 5.6% | 5.9% | ||
| Q3 25 | 3.4% | 6.3% | ||
| Q2 25 | 1.6% | 15.1% | ||
| Q1 25 | 4.8% | 3.1% | ||
| Q4 24 | 5.3% | 7.8% | ||
| Q3 24 | 3.2% | -1.9% | ||
| Q2 24 | 1.8% | 4.0% |
资本支出强度CHWYPII
| Q1 26 | — | — | ||
| Q4 25 | 1.0% | 3.4% | ||
| Q3 25 | 0.9% | 2.3% | ||
| Q2 25 | 1.2% | 2.2% | ||
| Q1 25 | 1.6% | 2.3% | ||
| Q4 24 | 1.1% | 3.9% | ||
| Q3 24 | 1.1% | 3.1% | ||
| Q2 24 | 1.0% | 3.4% |
现金转化率CHWYPII
| Q1 26 | — | — | ||
| Q4 25 | 3.51× | — | ||
| Q3 25 | 2.16× | — | ||
| Q2 25 | 1.38× | — | ||
| Q1 25 | 9.10× | — | ||
| Q4 24 | 46.66× | 19.46× | ||
| Q3 24 | 0.41× | 0.76× | ||
| Q2 24 | 1.22× | 2.13× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
