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DILLARD'S, INC.（DDS）与梅西百货（M）财务数据对比。点击上方公司名可切换其他公司
梅西百货的季度营收约是DILLARD'S, INC.的3.2倍（$4.7B vs $1.5B）。DILLARD'S, INC.净利率更高（8.8% vs 0.2%，领先8.6%）。DILLARD'S, INC.同比增速更快（2.9% vs -0.6%）。DILLARD'S, INC.自由现金流更多（$156.2M vs $-101.0M）。过去两年DILLARD'S, INC.的营收复合增速更高（-16.9% vs -23.8%）
Dillard's, Inc.是美国知名连锁百货企业，1938年由威廉·T·迪拉德创立，总部位于阿肯色州小石城，目前在全美30个州运营约272家门店，其中得克萨斯州、佛罗里达州分别设有57家、42家门店，为其门店数量最多的两个区域。
梅西百货是美国知名百货控股集团，1929年成立时名为联合百货，最初持有Abraham & Straus、Lazarus等多个区域连锁百货品牌，次年布鲁明戴尔正式加入。集团早年频繁开展资产并购与剥离，1994年收购1858年创立的老牌百货梅西，随后更名并发展为美国头部百货零售企业。
DDS vs M — 直观对比
营收规模更大
M
是对方的3.2倍
$1.5B
营收增速更快
DDS
高出3.5%
-0.6%
净利率更高
DDS
高出8.6%
0.2%
自由现金流更多
DDS
多$257.2M
$-101.0M
两年增速更快
DDS
近两年复合增速
-23.8%
损益表 — Q4 2026 vs Q3 2026
| 指标 | | |
|---|---|---|
| 营收 | $1.5B | $4.7B |
| 净利润 | $129.8M | $11.0M |
| 毛利率 | 43.4% | 39.4% |
| 营业利润率 | 11.5% | 0.9% |
| 净利率 | 8.8% | 0.2% |
| 营收同比 | 2.9% | -0.6% |
| 净利润同比 | 4.2% | -60.7% |
| 每股收益（稀释后） | $8.31 | $0.04 |
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DDSM
| Q4 25 | $1.5B | $4.7B | ||
| Q3 25 | $1.5B | $4.8B | ||
| Q2 25 | $1.5B | $4.6B | ||
| Q1 25 | $2.0B | $7.8B | ||
| Q4 24 | $1.4B | $4.7B | ||
| Q3 24 | $1.5B | $4.9B | ||
| Q2 24 | $1.5B | $4.8B | ||
| Q1 24 | $2.1B | $8.1B |
净利润DDSM
| Q4 25 | $129.8M | $11.0M | ||
| Q3 25 | $72.8M | $87.0M | ||
| Q2 25 | $163.8M | $38.0M | ||
| Q1 25 | $214.4M | $342.0M | ||
| Q4 24 | $124.6M | $28.0M | ||
| Q3 24 | $74.5M | $150.0M | ||
| Q2 24 | $180.0M | $62.0M | ||
| Q1 24 | $250.5M | $-71.0M |
毛利率DDSM
| Q4 25 | 43.4% | 39.4% | ||
| Q3 25 | 36.6% | 39.7% | ||
| Q2 25 | 43.9% | 39.2% | ||
| Q1 25 | 34.9% | 35.7% | ||
| Q4 24 | 42.6% | 39.6% | ||
| Q3 24 | 37.6% | 40.5% | ||
| Q2 24 | 44.6% | 39.2% | ||
| Q1 24 | 36.6% | 37.5% |
营业利润率DDSM
| Q4 25 | 11.5% | 0.9% | ||
| Q3 25 | 6.2% | 3.1% | ||
| Q2 25 | 14.0% | 2.0% | ||
| Q1 25 | 11.7% | 6.4% | ||
| Q4 24 | 11.4% | 1.3% | ||
| Q3 24 | 6.5% | 4.5% | ||
| Q2 24 | 15.2% | 2.6% | ||
| Q1 24 | 13.3% | -0.9% |
净利率DDSM
| Q4 25 | 8.8% | 0.2% | ||
| Q3 25 | 4.8% | 1.8% | ||
| Q2 25 | 10.7% | 0.8% | ||
| Q1 25 | 10.6% | 4.4% | ||
| Q4 24 | 8.7% | 0.6% | ||
| Q3 24 | 5.0% | 3.0% | ||
| Q2 24 | 11.6% | 1.3% | ||
| Q1 24 | 11.8% | -0.9% |
每股收益（稀释后）DDSM
| Q4 25 | $8.31 | $0.04 | ||
| Q3 25 | $4.66 | $0.31 | ||
| Q2 25 | $10.39 | $0.13 | ||
| Q1 25 | $13.41 | $1.22 | ||
| Q4 24 | $7.73 | $0.10 | ||
| Q3 24 | $4.59 | $0.53 | ||
| Q2 24 | $11.09 | $0.22 | ||
| Q1 24 | $15.41 | $-0.25 |
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 | $1.1B | $447.0M |
| 总债务越低越好 | — | $2.4B |
| 股东权益账面价值 | $2.0B | $4.3B |
| 总资产 | $4.3B | $17.1B |
| 负债/权益比越低杠杆越低 | — | 0.56× |
8季度趋势，按日历期对齐
现金及短期投资DDSM
| Q4 25 | $1.1B | $447.0M | ||
| Q3 25 | $1.0B | $829.0M | ||
| Q2 25 | $900.5M | $932.0M | ||
| Q1 25 | $717.9M | $1.3B | ||
| Q4 24 | $980.4M | $315.0M | ||
| Q3 24 | $946.7M | $646.0M | ||
| Q2 24 | $817.8M | $876.0M | ||
| Q1 24 | $808.3M | $1.0B |
总债务DDSM
| Q4 25 | — | $2.4B | ||
| Q3 25 | — | $2.4B | ||
| Q2 25 | — | $2.8B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | — | $2.8B | ||
| Q3 24 | — | $3.0B | ||
| Q2 24 | — | $3.0B | ||
| Q1 24 | — | $3.0B |
股东权益DDSM
| Q4 25 | $2.0B | $4.3B | ||
| Q3 25 | $1.9B | $4.5B | ||
| Q2 25 | $1.9B | $4.5B | ||
| Q1 25 | $1.8B | $4.6B | ||
| Q4 24 | $2.0B | $4.1B | ||
| Q3 24 | $1.9B | $4.3B | ||
| Q2 24 | $1.9B | $4.2B | ||
| Q1 24 | $1.7B | $4.1B |
总资产DDSM
| Q4 25 | $4.3B | $17.1B | ||
| Q3 25 | $3.7B | $15.6B | ||
| Q2 25 | $3.9B | $16.1B | ||
| Q1 25 | $3.5B | $16.4B | ||
| Q4 24 | $4.1B | $17.3B | ||
| Q3 24 | $3.7B | $15.8B | ||
| Q2 24 | $3.9B | $16.4B | ||
| Q1 24 | $3.4B | $16.2B |
负债/权益比DDSM
| Q4 25 | — | 0.56× | ||
| Q3 25 | — | 0.55× | ||
| Q2 25 | — | 0.62× | ||
| Q1 25 | — | 0.61× | ||
| Q4 24 | — | 0.67× | ||
| Q3 24 | — | 0.70× | ||
| Q2 24 | — | 0.72× | ||
| Q1 24 | — | 0.72× |
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 | $186.5M | $-8.0M |
| 自由现金流经营现金流 - 资本支出 | $156.2M | $-101.0M |
| 自由现金流率自由现金流/营收 | 10.6% | -2.1% |
| 资本支出强度资本支出/营收 | 2.1% | 2.0% |
| 现金转化率经营现金流/净利润 | 1.44× | -0.73× |
| 过去12个月自由现金流最近4个季度 | $781.3M | $1.2B |
8季度趋势，按日历期对齐
经营现金流DDSM
| Q4 25 | $186.5M | $-8.0M | ||
| Q3 25 | $86.8M | $319.0M | ||
| Q2 25 | $232.6M | $-64.0M | ||
| Q1 25 | $364.7M | $1.3B | ||
| Q4 24 | $173.5M | $-167.0M | ||
| Q3 24 | $-68.4M | $8.0M | ||
| Q2 24 | $244.4M | $129.0M | ||
| Q1 24 | $436.5M | $1.1B |
自由现金流DDSM
| Q4 25 | $156.2M | $-101.0M | ||
| Q3 25 | $60.1M | $240.0M | ||
| Q2 25 | $215.8M | $-164.0M | ||
| Q1 25 | $349.3M | $1.2B | ||
| Q4 24 | $145.4M | $-295.0M | ||
| Q3 24 | $-94.3M | $-109.0M | ||
| Q2 24 | $209.2M | $-25.0M | ||
| Q1 24 | $408.2M | $1.0B |
自由现金流率DDSM
| Q4 25 | 10.6% | -2.1% | ||
| Q3 25 | 4.0% | 5.0% | ||
| Q2 25 | 14.1% | -3.6% | ||
| Q1 25 | 17.3% | 15.3% | ||
| Q4 24 | 10.2% | -6.2% | ||
| Q3 24 | -6.3% | -2.2% | ||
| Q2 24 | 13.5% | -0.5% | ||
| Q1 24 | 19.2% | 12.3% |
资本支出强度DDSM
| Q4 25 | 2.1% | 2.0% | ||
| Q3 25 | 1.8% | 1.6% | ||
| Q2 25 | 1.1% | 2.2% | ||
| Q1 25 | 0.8% | 1.5% | ||
| Q4 24 | 2.0% | 2.7% | ||
| Q3 24 | 1.7% | 2.4% | ||
| Q2 24 | 2.3% | 3.2% | ||
| Q1 24 | 1.3% | 1.8% |
现金转化率DDSM
| Q4 25 | 1.44× | -0.73× | ||
| Q3 25 | 1.19× | 3.67× | ||
| Q2 25 | 1.42× | -1.68× | ||
| Q1 25 | 1.70× | 3.82× | ||
| Q4 24 | 1.39× | -5.96× | ||
| Q3 24 | -0.92× | 0.05× | ||
| Q2 24 | 1.36× | 2.08× | ||
| Q1 24 | 1.74× | — |
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
DDS
暂无分部数据
M
| Womens Accessories Shoes Cosmetics And Fragrances | $1.9B | 41% |
| Womens Apparel | $1.1B | 23% |
| Mens And Kids | $1.0B | 22% |
| Home Other | $638.0M | 14% |
| Credit Card Revenues Net | $158.0M | 3% |
| Macys Media Network Revenue Net | $42.0M | 1% |
