vs
Dollar Tree（DLTR）与Keurig Dr Pepper（KDP）财务数据对比。点击上方公司名可切换其他公司
Dollar Tree的季度营收约是Keurig Dr Pepper的1.2倍（$4.7B vs $4.0B），Keurig Dr Pepper净利率更高（6.8% vs 5.2%，领先1.6%），Keurig Dr Pepper同比增速更快（9.4% vs -37.2%），Keurig Dr Pepper自由现金流更多（$184.0M vs $-57.1M），过去两年Keurig Dr Pepper的营收复合增速更高（0.7% vs -25.9%）
Dollar Tree是美国多价位折扣百货连锁企业，位列《财富》500强，总部位于弗吉尼亚州切萨皮克。公司在美国本土48个毗连州及加拿大共运营15115家门店，旗下24个配送中心组成的全国物流网络为所有门店提供运营支持。
Keurig Dr Pepper是美国上市的饮品与咖啡机综合企业，2018年由克里格绿山和胡椒博士斯奈普集团合并成立，在马萨诸塞州伯灵顿及得克萨斯州弗里斯科设有双总部，旗下拥有超125款冷热饮品，加拿大区域业务由当地子公司负责运营。
DLTR vs KDP — 直观对比
营收规模更大
DLTR
是对方的1.2倍
$4.0B
营收增速更快
KDP
高出46.6%
-37.2%
净利率更高
KDP
高出1.6%
5.2%
自由现金流更多
KDP
多$241.1M
$-57.1M
两年增速更快
KDP
近两年复合增速
-25.9%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $4.7B | $4.0B |
| 净利润 | $244.6M | $270.0M |
| 毛利率 | 35.8% | 52.8% |
| 营业利润率 | 7.2% | 19.0% |
| 净利率 | 5.2% | 6.8% |
| 营收同比 | -37.2% | 9.4% |
| 净利润同比 | 4.8% | -47.8% |
| 每股收益（稀释后） | $1.20 | $0.20 |
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DLTRKDP
| Q1 26 | — | $4.0B | ||
| Q4 25 | $4.7B | $4.5B | ||
| Q3 25 | $4.6B | $4.3B | ||
| Q2 25 | $4.6B | $4.2B | ||
| Q1 25 | $5.0B | $3.6B | ||
| Q4 24 | $7.6B | $4.1B | ||
| Q3 24 | $7.4B | $3.9B | ||
| Q2 24 | $7.6B | $3.9B |
净利润DLTRKDP
| Q1 26 | — | $270.0M | ||
| Q4 25 | $244.6M | $353.0M | ||
| Q3 25 | $188.4M | $662.0M | ||
| Q2 25 | $343.4M | $547.0M | ||
| Q1 25 | $-3.7B | $517.0M | ||
| Q4 24 | $233.3M | $-144.0M | ||
| Q3 24 | $132.4M | $616.0M | ||
| Q2 24 | $300.1M | $515.0M |
毛利率DLTRKDP
| Q1 26 | — | 52.8% | ||
| Q4 25 | 35.8% | 53.8% | ||
| Q3 25 | 34.4% | 54.3% | ||
| Q2 25 | 35.6% | 54.2% | ||
| Q1 25 | 37.6% | 54.6% | ||
| Q4 24 | 30.9% | 55.9% | ||
| Q3 24 | 30.0% | 55.0% | ||
| Q2 24 | 30.8% | 55.4% |
营业利润率DLTRKDP
| Q1 26 | — | 19.0% | ||
| Q4 25 | 7.2% | 19.6% | ||
| Q3 25 | 5.1% | 23.1% | ||
| Q2 25 | 8.3% | 21.6% | ||
| Q1 25 | — | 22.0% | ||
| Q4 24 | 4.4% | 1.5% | ||
| Q3 24 | 2.8% | 23.2% | ||
| Q2 24 | 5.5% | 22.0% |
净利率DLTRKDP
| Q1 26 | — | 6.8% | ||
| Q4 25 | 5.2% | 7.8% | ||
| Q3 25 | 4.1% | 15.4% | ||
| Q2 25 | 7.4% | 13.1% | ||
| Q1 25 | -74.0% | 14.2% | ||
| Q4 24 | 3.1% | -3.5% | ||
| Q3 24 | 1.8% | 15.8% | ||
| Q2 24 | 3.9% | 13.1% |
每股收益（稀释后）DLTRKDP
| Q1 26 | — | $0.20 | ||
| Q4 25 | $1.20 | $0.26 | ||
| Q3 25 | $0.91 | $0.49 | ||
| Q2 25 | $1.61 | $0.40 | ||
| Q1 25 | $-17.17 | $0.38 | ||
| Q4 24 | $1.08 | $-0.11 | ||
| Q3 24 | $0.62 | $0.45 | ||
| Q2 24 | $1.38 | $0.38 |
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 | $594.8M | $898.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $3.5B | $25.3B |
| 总资产 | $13.7B | $73.1B |
| 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DLTRKDP
| Q1 26 | — | $898.0M | ||
| Q4 25 | $594.8M | $1.0B | ||
| Q3 25 | $666.3M | $516.0M | ||
| Q2 25 | $1.0B | $509.0M | ||
| Q1 25 | $1.3B | $653.0M | ||
| Q4 24 | $697.6M | $510.0M | ||
| Q3 24 | $570.3M | $552.0M | ||
| Q2 24 | $618.5M | $438.0M |
总债务DLTRKDP
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $3.4B | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益DLTRKDP
| Q1 26 | — | $25.3B | ||
| Q4 25 | $3.5B | $25.5B | ||
| Q3 25 | $3.6B | $25.3B | ||
| Q2 25 | $3.9B | $25.0B | ||
| Q1 25 | $4.0B | $24.4B | ||
| Q4 24 | $7.6B | $24.2B | ||
| Q3 24 | $7.4B | $25.0B | ||
| Q2 24 | $7.3B | $24.7B |
总资产DLTRKDP
| Q1 26 | — | $73.1B | ||
| Q4 25 | $13.7B | $55.5B | ||
| Q3 25 | $13.4B | $54.6B | ||
| Q2 25 | $18.3B | $54.4B | ||
| Q1 25 | $18.6B | $53.7B | ||
| Q4 24 | $23.3B | $53.4B | ||
| Q3 24 | $22.6B | $52.7B | ||
| Q2 24 | $22.1B | $52.3B |
负债/权益比DLTRKDP
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.86× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $319.3M | $281.0M |
| 自由现金流经营现金流 - 资本支出 | $-57.1M | $184.0M |
| 自由现金流率自由现金流/营收 | -1.2% | 4.6% |
| 资本支出强度资本支出/营收 | 7.9% | — |
| 现金转化率经营现金流/净利润 | 1.31× | 1.04× |
| 过去12个月自由现金流最近4个季度 | $394.5M | $1.6B |
8季度趋势，按日历期对齐
经营现金流DLTRKDP
| Q1 26 | — | $281.0M | ||
| Q4 25 | $319.3M | $712.0M | ||
| Q3 25 | $260.7M | $639.0M | ||
| Q2 25 | $378.5M | $431.0M | ||
| Q1 25 | $405.1M | $209.0M | ||
| Q4 24 | $785.6M | $849.0M | ||
| Q3 24 | $306.9M | $628.0M | ||
| Q2 24 | $695.7M | $657.0M |
自由现金流DLTRKDP
| Q1 26 | — | $184.0M | ||
| Q4 25 | $-57.1M | $564.0M | ||
| Q3 25 | $15.6M | $527.0M | ||
| Q2 25 | $129.7M | $325.0M | ||
| Q1 25 | $306.3M | $89.0M | ||
| Q4 24 | $359.2M | $684.0M | ||
| Q3 24 | $-193.8M | $503.0M | ||
| Q2 24 | $223.5M | $542.0M |
自由现金流率DLTRKDP
| Q1 26 | — | 4.6% | ||
| Q4 25 | -1.2% | 12.5% | ||
| Q3 25 | 0.3% | 12.2% | ||
| Q2 25 | 2.8% | 7.8% | ||
| Q1 25 | 6.1% | 2.4% | ||
| Q4 24 | 4.8% | 16.8% | ||
| Q3 24 | -2.6% | 12.9% | ||
| Q2 24 | 2.9% | 13.8% |
资本支出强度DLTRKDP
| Q1 26 | — | — | ||
| Q4 25 | 7.9% | 3.3% | ||
| Q3 25 | 5.4% | 2.6% | ||
| Q2 25 | 5.4% | 2.5% | ||
| Q1 25 | 2.0% | 3.3% | ||
| Q4 24 | 5.6% | 4.1% | ||
| Q3 24 | 6.8% | 3.2% | ||
| Q2 24 | 6.2% | 2.9% |
现金转化率DLTRKDP
| Q1 26 | — | 1.04× | ||
| Q4 25 | 1.31× | 2.02× | ||
| Q3 25 | 1.38× | 0.97× | ||
| Q2 25 | 1.10× | 0.79× | ||
| Q1 25 | — | 0.40× | ||
| Q4 24 | 3.37× | — | ||
| Q3 24 | 2.32× | 1.02× | ||
| Q2 24 | 2.32× | 1.28× |
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
DLTR
| Consumable | $2.4B | 50% |
| Variety | $2.1B | 43% |
| Seasonal | $344.1M | 7% |
KDP
| U.S. Refreshment Beverages | $2.6B | 65% |
| U.S. Coffee | $877.0M | 22% |
| International | $435.0M | 11% |
