vs
Dollar Tree（DLTR）与Block, Inc.（XYZ）财务数据对比。点击上方公司名可切换其他公司
Block, Inc.的季度营收约是Dollar Tree的1.3倍（$6.3B vs $4.7B），Dollar Tree净利率更高（5.2% vs 1.9%，领先3.3%），Block, Inc.同比增速更快（3.6% vs -37.2%），Block, Inc.自由现金流更多（$579.8M vs $-57.1M），过去两年Block, Inc.的营收复合增速更高（2.4% 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。
Block, Inc.是美国科技企业，面向消费者与商户提供金融服务，由杰克·多尔西于2009年创立，是美国销售点系统领域的市场领导者。截至2024年，平台服务5700万用户及400万商户，年支付处理规模达2410亿美元。
DLTR vs XYZ — 直观对比
营收规模更大
XYZ
是对方的1.3倍
$4.7B
营收增速更快
XYZ
高出40.9%
-37.2%
净利率更高
DLTR
高出3.3%
1.9%
自由现金流更多
XYZ
多$636.9M
$-57.1M
两年增速更快
XYZ
近两年复合增速
-25.9%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.7B | $6.3B |
| 净利润 | $244.6M | $115.8M |
| 毛利率 | 35.8% | 45.9% |
| 营业利润率 | 7.2% | 7.8% |
| 净利率 | 5.2% | 1.9% |
| 营收同比 | -37.2% | 3.6% |
| 净利润同比 | 4.8% | -94.1% |
| 每股收益（稀释后） | $1.20 | $0.19 |
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DLTRXYZ
| Q4 25 | $4.7B | $6.3B | ||
| Q3 25 | $4.6B | $6.1B | ||
| Q2 25 | $4.6B | $6.1B | ||
| Q1 25 | $5.0B | $5.8B | ||
| Q4 24 | $7.6B | $6.0B | ||
| Q3 24 | $7.4B | $6.0B | ||
| Q2 24 | $7.6B | $6.2B | ||
| Q1 24 | $8.6B | $6.0B |
净利润DLTRXYZ
| Q4 25 | $244.6M | $115.8M | ||
| Q3 25 | $188.4M | $461.5M | ||
| Q2 25 | $343.4M | $538.5M | ||
| Q1 25 | $-3.7B | $189.9M | ||
| Q4 24 | $233.3M | $1.9B | ||
| Q3 24 | $132.4M | $283.8M | ||
| Q2 24 | $300.1M | $195.3M | ||
| Q1 24 | $-1.7B | $472.0M |
毛利率DLTRXYZ
| Q4 25 | 35.8% | 45.9% | ||
| Q3 25 | 34.4% | 43.5% | ||
| Q2 25 | 35.6% | 41.9% | ||
| Q1 25 | 37.6% | 39.7% | ||
| Q4 24 | 30.9% | 38.3% | ||
| Q3 24 | 30.0% | 37.6% | ||
| Q2 24 | 30.8% | 36.3% | ||
| Q1 24 | 32.1% | 35.2% |
营业利润率DLTRXYZ
| Q4 25 | 7.2% | 7.8% | ||
| Q3 25 | 5.1% | 6.7% | ||
| Q2 25 | 8.3% | 8.0% | ||
| Q1 25 | — | 5.7% | ||
| Q4 24 | 4.4% | 0.2% | ||
| Q3 24 | 2.8% | 5.4% | ||
| Q2 24 | 5.5% | 5.0% | ||
| Q1 24 | -21.9% | 4.2% |
净利率DLTRXYZ
| Q4 25 | 5.2% | 1.9% | ||
| Q3 25 | 4.1% | 7.5% | ||
| Q2 25 | 7.4% | 8.9% | ||
| Q1 25 | -74.0% | 3.3% | ||
| Q4 24 | 3.1% | 32.3% | ||
| Q3 24 | 1.8% | 4.7% | ||
| Q2 24 | 3.9% | 3.2% | ||
| Q1 24 | -19.8% | 7.9% |
每股收益（稀释后）DLTRXYZ
| Q4 25 | $1.20 | $0.19 | ||
| Q3 25 | $0.91 | $0.74 | ||
| Q2 25 | $1.61 | $0.87 | ||
| Q1 25 | $-17.17 | $0.30 | ||
| Q4 24 | $1.08 | $3.06 | ||
| Q3 24 | $0.62 | $0.45 | ||
| Q2 24 | $1.38 | $0.31 | ||
| Q1 24 | $-7.78 | $0.74 |
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 | $6.6B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $3.5B | $22.2B |
| 总资产 | $13.7B | $39.5B |
| 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DLTRXYZ
| Q4 25 | $594.8M | $6.6B | ||
| Q3 25 | $666.3M | $8.3B | ||
| Q2 25 | $1.0B | $6.4B | ||
| Q1 25 | $1.3B | $7.1B | ||
| Q4 24 | $697.6M | $8.1B | ||
| Q3 24 | $570.3M | $8.3B | ||
| Q2 24 | $618.5M | $7.8B | ||
| Q1 24 | $684.9M | $5.8B |
总债务DLTRXYZ
| Q4 25 | — | — | ||
| Q3 25 | — | $7.3B | ||
| Q2 25 | — | $5.1B | ||
| Q1 25 | $3.4B | $5.1B | ||
| Q4 24 | — | $6.1B | ||
| Q3 24 | — | $6.1B | ||
| Q2 24 | — | $6.1B | ||
| Q1 24 | $3.4B | $4.1B |
股东权益DLTRXYZ
| Q4 25 | $3.5B | $22.2B | ||
| Q3 25 | $3.6B | $22.5B | ||
| Q2 25 | $3.9B | $22.2B | ||
| Q1 25 | $4.0B | $21.5B | ||
| Q4 24 | $7.6B | $21.3B | ||
| Q3 24 | $7.4B | $19.9B | ||
| Q2 24 | $7.3B | $19.3B | ||
| Q1 24 | $7.3B | $19.0B |
总资产DLTRXYZ
| Q4 25 | $13.7B | $39.5B | ||
| Q3 25 | $13.4B | $39.2B | ||
| Q2 25 | $18.3B | $36.9B | ||
| Q1 25 | $18.6B | $36.4B | ||
| Q4 24 | $23.3B | $36.8B | ||
| Q3 24 | $22.6B | $36.4B | ||
| Q2 24 | $22.1B | $37.5B | ||
| Q1 24 | $22.0B | $35.6B |
负债/权益比DLTRXYZ
| Q4 25 | — | — | ||
| Q3 25 | — | 0.32× | ||
| Q2 25 | — | 0.23× | ||
| Q1 25 | 0.86× | 0.24× | ||
| Q4 24 | — | 0.29× | ||
| Q3 24 | — | 0.31× | ||
| Q2 24 | — | 0.32× | ||
| Q1 24 | 0.47× | 0.22× |
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 | $621.0M |
| 自由现金流经营现金流 - 资本支出 | $-57.1M | $579.8M |
| 自由现金流率自由现金流/营收 | -1.2% | 9.3% |
| 资本支出强度资本支出/营收 | 7.9% | 0.7% |
| 现金转化率经营现金流/净利润 | 1.31× | 5.36× |
| 过去12个月自由现金流最近4个季度 | $394.5M | $2.4B |
8季度趋势，按日历期对齐
经营现金流DLTRXYZ
| Q4 25 | $319.3M | $621.0M | ||
| Q3 25 | $260.7M | $1.5B | ||
| Q2 25 | $378.5M | $374.3M | ||
| Q1 25 | $405.1M | $133.3M | ||
| Q4 24 | $785.6M | $13.8M | ||
| Q3 24 | $306.9M | $684.8M | ||
| Q2 24 | $695.7M | $519.4M | ||
| Q1 24 | $1.3B | $489.4M |
自由现金流DLTRXYZ
| Q4 25 | $-57.1M | $579.8M | ||
| Q3 25 | $15.6M | $1.4B | ||
| Q2 25 | $129.7M | $343.0M | ||
| Q1 25 | $306.3M | $101.5M | ||
| Q4 24 | $359.2M | $-13.2M | ||
| Q3 24 | $-193.8M | $628.2M | ||
| Q2 24 | $223.5M | $481.0M | ||
| Q1 24 | $470.8M | $457.4M |
自由现金流率DLTRXYZ
| Q4 25 | -1.2% | 9.3% | ||
| Q3 25 | 0.3% | 22.9% | ||
| Q2 25 | 2.8% | 5.7% | ||
| Q1 25 | 6.1% | 1.8% | ||
| Q4 24 | 4.8% | -0.2% | ||
| Q3 24 | -2.6% | 10.5% | ||
| Q2 24 | 2.9% | 7.8% | ||
| Q1 24 | 5.5% | 7.7% |
资本支出强度DLTRXYZ
| Q4 25 | 7.9% | 0.7% | ||
| Q3 25 | 5.4% | 0.8% | ||
| Q2 25 | 5.4% | 0.5% | ||
| Q1 25 | 2.0% | 0.6% | ||
| Q4 24 | 5.6% | 0.4% | ||
| Q3 24 | 6.8% | 0.9% | ||
| Q2 24 | 6.2% | 0.6% | ||
| Q1 24 | 9.1% | 0.5% |
现金转化率DLTRXYZ
| Q4 25 | 1.31× | 5.36× | ||
| Q3 25 | 1.38× | 3.14× | ||
| Q2 25 | 1.10× | 0.70× | ||
| Q1 25 | — | 0.70× | ||
| Q4 24 | 3.37× | 0.01× | ||
| Q3 24 | 2.32× | 2.41× | ||
| Q2 24 | 2.32× | 2.66× | ||
| Q1 24 | — | 1.04× |
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% |
XYZ
| US | $5.7B | 91% |
| Non Us | $560.9M | 9% |
