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德纳（DAN）与Constellation Brands（STZ）财务数据对比。点击上方公司名可切换其他公司
Constellation Brands的季度营收约是德纳的1.7倍（$2.2B vs $1.3B），Constellation Brands净利率更高（22.6% vs -3.9%，领先26.5%），Constellation Brands同比增速更快（-9.8% vs -44.5%），Constellation Brands自由现金流更多（$370.9M vs $345.0M），过去两年Constellation Brands的营收复合增速更高（1.9% vs -31.2%）
德纳（Dana Inc.）是美国知名汽车零部件供应商，创立于1904年，总部位于俄亥俄州莫米。公司为传统燃油车、混合动力车及电动车提供车桥、传动轴，以及电驱动、热管理、密封、数字设备等产品，服务于轻型车、商用车市场，业务遍及33个国家，员工近2.8万人，2022年销售额达102亿美元，位列财富世界500强。
Constellation Brands, Inc.是总部位于美国纽约州罗切斯特的《财富》500强企业，主营啤酒、葡萄酒及烈酒的生产与营销，按销售额计算是美国最大的啤酒进口商，在全美主要啤酒供应商中市场份额位列第三。公司还通过与Canopy Growth合作在医用及娱乐大麻领域有大额投资，现有约40处设施、近9000名员工。
DAN vs STZ — 直观对比
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $2.2B |
| 净利润 | $-50.0M | $502.8M |
| 毛利率 | 6.0% | 53.2% |
| 营业利润率 | -0.2% | 31.1% |
| 净利率 | -3.9% | 22.6% |
| 营收同比 | -44.5% | -9.8% |
| 净利润同比 | 37.5% | -18.4% |
| 每股收益（稀释后） | $-0.36 | — |
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
| Q4 25 | $1.3B | $2.2B | ||
| Q3 25 | $1.9B | $2.5B | ||
| Q2 25 | $1.9B | $2.5B | ||
| Q1 25 | $2.4B | $2.2B | ||
| Q4 24 | $2.3B | $2.5B | ||
| Q3 24 | $2.5B | $2.9B | ||
| Q2 24 | $2.7B | $2.7B | ||
| Q1 24 | $2.7B | $2.1B |
| Q4 25 | $-50.0M | $502.8M | ||
| Q3 25 | $83.0M | $466.0M | ||
| Q2 25 | $27.0M | $516.1M | ||
| Q1 25 | $25.0M | $-375.3M | ||
| Q4 24 | $-80.0M | $615.9M | ||
| Q3 24 | $4.0M | $-1.2B | ||
| Q2 24 | $16.0M | $877.0M | ||
| Q1 24 | $3.0M | $392.4M |
| Q4 25 | 6.0% | 53.2% | ||
| Q3 25 | 8.7% | 52.8% | ||
| Q2 25 | 7.1% | 50.4% | ||
| Q1 25 | 9.4% | 51.5% | ||
| Q4 24 | 5.7% | 52.1% | ||
| Q3 24 | 9.9% | 51.8% | ||
| Q2 24 | 9.3% | 52.7% | ||
| Q1 24 | 8.9% | 48.6% |
| Q4 25 | -0.2% | 31.1% | ||
| Q3 25 | 2.8% | 35.2% | ||
| Q2 25 | 0.8% | 28.4% | ||
| Q1 25 | 3.1% | -6.9% | ||
| Q4 24 | -1.5% | 32.2% | ||
| Q3 24 | 3.6% | -42.1% | ||
| Q2 24 | 3.8% | 35.4% | ||
| Q1 24 | 2.6% | 29.4% |
| Q4 25 | -3.9% | 22.6% | ||
| Q3 25 | 4.3% | 18.8% | ||
| Q2 25 | 1.4% | 20.5% | ||
| Q1 25 | 1.1% | -17.3% | ||
| Q4 24 | -3.4% | 25.0% | ||
| Q3 24 | 0.2% | -41.1% | ||
| Q2 24 | 0.6% | 32.9% | ||
| Q1 24 | 0.1% | 18.3% |
| Q4 25 | $-0.36 | — | ||
| Q3 25 | $0.64 | — | ||
| Q2 25 | $0.19 | — | ||
| Q1 25 | $0.17 | — | ||
| Q4 24 | $-0.55 | — | ||
| Q3 24 | $0.03 | — | ||
| Q2 24 | $0.11 | — | ||
| Q1 24 | $0.02 | — |
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 | $469.0M | $152.4M |
| 总债务越低越好 | $2.6B | $10.3B |
| 股东权益账面价值 | $840.0M | $7.7B |
| 总资产 | $7.8B | $21.7B |
| 负债/权益比越低杠杆越低 | 3.05× | 1.33× |
8季度趋势，按日历期对齐
| Q4 25 | $469.0M | $152.4M | ||
| Q3 25 | $414.0M | $72.0M | ||
| Q2 25 | $486.0M | $73.9M | ||
| Q1 25 | $507.0M | $68.1M | ||
| Q4 24 | $494.0M | $73.7M | ||
| Q3 24 | $419.0M | $64.6M | ||
| Q2 24 | $419.0M | $73.8M | ||
| Q1 24 | $351.0M | $152.4M |
| Q4 25 | $2.6B | $10.3B | ||
| Q3 25 | $2.6B | $10.3B | ||
| Q2 25 | $2.6B | $11.2B | ||
| Q1 25 | $2.4B | $10.7B | ||
| Q4 24 | $2.4B | $10.7B | ||
| Q3 24 | $2.4B | $11.1B | ||
| Q2 24 | $2.4B | $11.1B | ||
| Q1 24 | $2.6B | $11.6B |
| Q4 25 | $840.0M | $7.7B | ||
| Q3 25 | $1.1B | $7.5B | ||
| Q2 25 | $1.2B | $7.3B | ||
| Q1 25 | $1.4B | $6.9B | ||
| Q4 24 | $1.3B | $7.8B | ||
| Q3 24 | $1.5B | $7.9B | ||
| Q2 24 | $1.5B | $10.3B | ||
| Q1 24 | $1.5B | $9.7B |
| Q4 25 | $7.8B | $21.7B | ||
| Q3 25 | $8.1B | $21.4B | ||
| Q2 25 | $8.1B | $22.3B | ||
| Q1 25 | $7.8B | $21.7B | ||
| Q4 24 | $7.5B | $22.8B | ||
| Q3 24 | $7.9B | $23.1B | ||
| Q2 24 | $7.8B | $26.1B | ||
| Q1 24 | $7.9B | $25.7B |
| Q4 25 | 3.05× | 1.33× | ||
| Q3 25 | 2.35× | 1.37× | ||
| Q2 25 | 2.13× | 1.54× | ||
| Q1 25 | 1.76× | 1.55× | ||
| Q4 24 | 1.79× | 1.37× | ||
| Q3 24 | 1.65× | 1.41× | ||
| Q2 24 | 1.62× | 1.08× | ||
| Q1 24 | 1.68× | 1.19× |
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 | $406.0M | $616.9M |
| 自由现金流经营现金流 - 资本支出 | $345.0M | $370.9M |
| 自由现金流率自由现金流/营收 | 26.6% | 16.7% |
| 资本支出强度资本支出/营收 | 4.7% | 11.1% |
| 现金转化率经营现金流/净利润 | — | 1.23× |
| 过去12个月自由现金流最近4个季度 | $298.0M | $1.8B |
8季度趋势，按日历期对齐
| Q4 25 | $406.0M | $616.9M | ||
| Q3 25 | $111.0M | $852.1M | ||
| Q2 25 | $32.0M | $637.2M | ||
| Q1 25 | $-37.0M | $594.7M | ||
| Q4 24 | $302.0M | $685.2M | ||
| Q3 24 | $35.0M | $1.2B | ||
| Q2 24 | $215.0M | $690.5M | ||
| Q1 24 | $-102.0M | $433.2M |
| Q4 25 | $345.0M | $370.9M | ||
| Q3 25 | $62.0M | $634.8M | ||
| Q2 25 | $3.0M | $444.4M | ||
| Q1 25 | $-112.0M | $312.1M | ||
| Q4 24 | $149.0M | $456.8M | ||
| Q3 24 | $-11.0M | $854.0M | ||
| Q2 24 | $104.0M | $315.2M | ||
| Q1 24 | $-172.0M | $76.0M |
| Q4 25 | 26.6% | 16.7% | ||
| Q3 25 | 3.2% | 25.6% | ||
| Q2 25 | 0.2% | 17.7% | ||
| Q1 25 | -4.8% | 14.4% | ||
| Q4 24 | 6.4% | 18.5% | ||
| Q3 24 | -0.4% | 29.3% | ||
| Q2 24 | 3.8% | 11.8% | ||
| Q1 24 | -6.3% | 3.6% |
| Q4 25 | 4.7% | 11.1% | ||
| Q3 25 | 2.6% | 8.8% | ||
| Q2 25 | 1.5% | 7.7% | ||
| Q1 25 | 3.2% | 13.1% | ||
| Q4 24 | 6.6% | 9.3% | ||
| Q3 24 | 1.9% | 11.2% | ||
| Q2 24 | 4.1% | 14.1% | ||
| Q1 24 | 2.6% | 16.7% |
| Q4 25 | — | 1.23× | ||
| Q3 25 | 1.34× | 1.83× | ||
| Q2 25 | 1.19× | 1.23× | ||
| Q1 25 | -1.48× | — | ||
| Q4 24 | — | 1.11× | ||
| Q3 24 | 8.75× | — | ||
| Q2 24 | 13.44× | 0.79× | ||
| Q1 24 | -34.00× | 1.10× |
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
DAN
| Light Vehicle Segment | $912.0M | 70% |
| Commercial Vehicle Segment | $218.0M | 17% |
| Other | $166.0M | 13% |
STZ
| Beer | $2.0B | 90% |
| Constellation Wines And Spirits | $213.1M | 10% |
