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开市客（COST）与西斯科（SYY）财务数据对比。点击上方公司名可切换其他公司
开市客的季度营收约是西斯科的3.2倍（$67.3B vs $20.8B），开市客净利率更高（3.0% vs 1.9%，领先1.1%），开市客同比增速更快（8.3% vs 3.0%），开市客自由现金流更多（$3.2B vs $385.0M），过去两年开市客的营收复合增速更高（7.9% vs 3.5%）
开市客是起源于美国的跨国连锁会员制仓储量贩集团，为全球第三大零售企业。截至2024年8月，开市客是全球规模最大的牛肉、禽肉、有机农产品及葡萄酒零售商，约有近三分之一的美国消费者定期前往其线下门店消费。
西斯科是总部位于美国得克萨斯州休斯敦能源走廊区的跨国企业，主要为餐厅、医疗机构、教育机构、体育场馆等各类提供餐食的场所销售配送食品产品，同时也供应餐饮服务相关用品及设备。
COST vs SYY — 直观对比
营收规模更大
COST
是对方的3.2倍
$20.8B
营收增速更快
COST
高出5.3%
3.0%
净利率更高
COST
高出1.1%
1.9%
自由现金流更多
COST
多$2.8B
$385.0M
两年增速更快
COST
近两年复合增速
3.5%
损益表 — Q1 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $67.3B | $20.8B |
| 净利润 | $2.0B | $389.0M |
| 毛利率 | 13.1% | 18.3% |
| 营业利润率 | 3.7% | 3.3% |
| 净利率 | 3.0% | 1.9% |
| 营收同比 | 8.3% | 3.0% |
| 净利润同比 | 11.3% | -4.2% |
| 每股收益（稀释后） | $4.50 | $0.81 |
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COSTSYY
| Q4 25 | $67.3B | $20.8B | ||
| Q3 25 | $86.2B | $21.1B | ||
| Q2 25 | $63.2B | $21.1B | ||
| Q1 25 | $63.7B | $19.6B | ||
| Q4 24 | $62.2B | $20.2B | ||
| Q3 24 | — | $20.5B | ||
| Q2 24 | $58.5B | $20.6B | ||
| Q1 24 | $58.4B | $19.4B |
净利润COSTSYY
| Q4 25 | $2.0B | $389.0M | ||
| Q3 25 | $2.6B | $476.0M | ||
| Q2 25 | $1.9B | $531.0M | ||
| Q1 25 | $1.8B | $401.0M | ||
| Q4 24 | $1.8B | $406.0M | ||
| Q3 24 | — | $490.0M | ||
| Q2 24 | $1.7B | $611.7M | ||
| Q1 24 | $1.7B | $424.7M |
毛利率COSTSYY
| Q4 25 | 13.1% | 18.3% | ||
| Q3 25 | 12.9% | 18.4% | ||
| Q2 25 | 13.0% | 18.9% | ||
| Q1 25 | 12.5% | 18.3% | ||
| Q4 24 | 12.9% | 18.1% | ||
| Q3 24 | — | 18.3% | ||
| Q2 24 | 12.5% | 18.7% | ||
| Q1 24 | 12.5% | 18.6% |
营业利润率COSTSYY
| Q4 25 | 3.7% | 3.3% | ||
| Q3 25 | 3.9% | 3.8% | ||
| Q2 25 | 4.0% | 4.2% | ||
| Q1 25 | 3.6% | 3.5% | ||
| Q4 24 | 3.5% | 3.5% | ||
| Q3 24 | — | 3.9% | ||
| Q2 24 | 3.8% | 4.7% | ||
| Q1 24 | 3.5% | 3.7% |
净利率COSTSYY
| Q4 25 | 3.0% | 1.9% | ||
| Q3 25 | 3.0% | 2.3% | ||
| Q2 25 | 3.0% | 2.5% | ||
| Q1 25 | 2.8% | 2.0% | ||
| Q4 24 | 2.9% | 2.0% | ||
| Q3 24 | — | 2.4% | ||
| Q2 24 | 2.9% | 3.0% | ||
| Q1 24 | 3.0% | 2.2% |
每股收益（稀释后）COSTSYY
| Q4 25 | $4.50 | $0.81 | ||
| Q3 25 | $5.87 | $0.99 | ||
| Q2 25 | $4.28 | $1.10 | ||
| Q1 25 | $4.02 | $0.82 | ||
| Q4 24 | $4.04 | $0.82 | ||
| Q3 24 | — | $0.99 | ||
| Q2 24 | $3.78 | $1.23 | ||
| Q1 24 | $3.92 | $0.85 |
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 | $17.2B | $1.2B |
| 总债务越低越好 | — | $12.4B |
| 股东权益账面价值 | $30.3B | $2.3B |
| 总资产 | $82.8B | $27.2B |
| 负债/权益比越低杠杆越低 | — | 5.45× |
8季度趋势，按日历期对齐
现金及短期投资COSTSYY
| Q4 25 | $17.2B | $1.2B | ||
| Q3 25 | $15.3B | $844.0M | ||
| Q2 25 | $14.8B | $1.1B | ||
| Q1 25 | $13.2B | $1.5B | ||
| Q4 24 | $11.8B | $793.0M | ||
| Q3 24 | — | $733.0M | ||
| Q2 24 | $11.5B | $696.0M | ||
| Q1 24 | $10.3B | $598.3M |
总债务COSTSYY
| Q4 25 | — | $12.4B | ||
| Q3 25 | — | $11.5B | ||
| Q2 25 | — | $12.4B | ||
| Q1 25 | — | $12.2B | ||
| Q4 24 | — | $11.4B | ||
| Q3 24 | — | $11.9B | ||
| Q2 24 | — | $11.5B | ||
| Q1 24 | — | $12.1B |
股东权益COSTSYY
| Q4 25 | $30.3B | $2.3B | ||
| Q3 25 | $29.2B | $2.1B | ||
| Q2 25 | $27.1B | $1.8B | ||
| Q1 25 | $25.6B | $1.9B | ||
| Q4 24 | $24.5B | $2.0B | ||
| Q3 24 | — | $2.2B | ||
| Q2 24 | $21.8B | $1.9B | ||
| Q1 24 | $20.8B | $2.1B |
总资产COSTSYY
| Q4 25 | $82.8B | $27.2B | ||
| Q3 25 | $77.1B | $27.0B | ||
| Q2 25 | $75.5B | $26.8B | ||
| Q1 25 | $73.2B | $26.3B | ||
| Q4 24 | $73.4B | $25.3B | ||
| Q3 24 | — | $25.9B | ||
| Q2 24 | $67.9B | $24.9B | ||
| Q1 24 | $66.3B | $24.7B |
负债/权益比COSTSYY
| Q4 25 | — | 5.45× | ||
| Q3 25 | — | 5.54× | ||
| Q2 25 | — | 6.75× | ||
| Q1 25 | — | 6.37× | ||
| Q4 24 | — | 5.66× | ||
| Q3 24 | — | 5.38× | ||
| Q2 24 | — | 6.19× | ||
| Q1 24 | — | 5.77× |
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 | $4.7B | $525.0M |
| 自由现金流经营现金流 - 资本支出 | $3.2B | $385.0M |
| 自由现金流率自由现金流/营收 | 4.7% | 1.9% |
| 资本支出强度资本支出/营收 | 2.3% | 0.7% |
| 现金转化率经营现金流/净利润 | 2.34× | 1.35× |
| 过去12个月自由现金流最近4个季度 | $9.0B | $1.8B |
8季度趋势，按日历期对齐
经营现金流COSTSYY
| Q4 25 | $4.7B | $525.0M | ||
| Q3 25 | $3.9B | $86.0M | ||
| Q2 25 | $3.5B | $1.2B | ||
| Q1 25 | $2.7B | $819.0M | ||
| Q4 24 | $3.3B | $445.0M | ||
| Q3 24 | — | $53.0M | ||
| Q2 24 | $3.0B | $1.6B | ||
| Q1 24 | $731.0M | $517.3M |
自由现金流COSTSYY
| Q4 25 | $3.2B | $385.0M | ||
| Q3 25 | $1.9B | $-74.0M | ||
| Q2 25 | $2.3B | $819.0M | ||
| Q1 25 | $1.6B | $620.0M | ||
| Q4 24 | $2.0B | $234.0M | ||
| Q3 24 | — | $-69.0M | ||
| Q2 24 | $1.9B | $1.3B | ||
| Q1 24 | $-300.0M | $333.9M |
自由现金流率COSTSYY
| Q4 25 | 4.7% | 1.9% | ||
| Q3 25 | 2.2% | -0.3% | ||
| Q2 25 | 3.7% | 3.9% | ||
| Q1 25 | 2.5% | 3.2% | ||
| Q4 24 | 3.2% | 1.2% | ||
| Q3 24 | — | -0.3% | ||
| Q2 24 | 3.3% | 6.4% | ||
| Q1 24 | -0.5% | 1.7% |
资本支出强度COSTSYY
| Q4 25 | 2.3% | 0.7% | ||
| Q3 25 | 2.3% | 0.8% | ||
| Q2 25 | 1.8% | 1.8% | ||
| Q1 25 | 1.8% | 1.0% | ||
| Q4 24 | 2.0% | 1.0% | ||
| Q3 24 | — | 0.6% | ||
| Q2 24 | 1.8% | 1.5% | ||
| Q1 24 | 1.8% | 0.9% |
现金转化率COSTSYY
| Q4 25 | 2.34× | 1.35× | ||
| Q3 25 | 1.48× | 0.18× | ||
| Q2 25 | 1.82× | 2.25× | ||
| Q1 25 | 1.54× | 2.04× | ||
| Q4 24 | 1.81× | 1.10× | ||
| Q3 24 | — | 0.11× | ||
| Q2 24 | 1.78× | 2.64× | ||
| Q1 24 | 0.42× | 1.22× |
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
COST
| Foods And Sundries | $27.1B | 40% |
| Non Foods | $19.2B | 28% |
| Other | $12.1B | 18% |
| Fresh Foods | $9.9B | 15% |
| Membership | $1.4B | 2% |
SYY
| International Foodservice Operations | $4.0B | 19% |
| Fresh And Frozen Meats1 | $3.0B | 14% |
| Canned And Dry Products1 | $2.7B | 13% |
| Sygma Segment | $2.1B | 10% |
| Frozen Fruits Vegetables Bakery And Other1 | $2.1B | 10% |
| Dairy Products1 | $1.5B | 7% |
| Poultry1 | $1.3B | 6% |
| Fresh Produce1 | $1.3B | 6% |
| Paper And Disposables1 | $1.0B | 5% |
| Seafood1 | $542.0M | 3% |
| Beverage Products1 | $390.0M | 2% |
| Other Products | $289.0M | 1% |
| Equipment And Smallwares | $286.0M | 1% |
