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FIVE BELOW, INC（FIVE）与北极星（PII）财务数据对比。点击上方公司名可切换其他公司
北极星的季度营收约是FIVE BELOW, INC的1.6倍（$1.7B vs $1.0B），FIVE BELOW, INC净利率更高（3.5% vs -2.8%，领先6.4%），FIVE BELOW, INC同比增速更快（23.1% vs 8.0%），FIVE BELOW, INC自由现金流更多（$-133.2M vs $-342.5M），过去两年北极星的营收复合增速更高（-8.0% vs -11.9%）
Five Below是美国特色折扣礼品连锁品牌，2002年成立，总部位于宾夕法尼亚州费城，主要面向青少年消费群体，旗下绝大多数商品定价不超过5美元，另有少量精选商品最高定价40美元，目前在全美拥有超过1850家线下门店。
北极星公司（Polaris Inc.）是总部位于美国明尼苏达州麦地那的机动车制造企业，创立于明尼苏达州罗索，当地目前仍保留其工程研发与生产设施。公司曾通过胜利摩托子公司生产摩托车，2011年收购印第安摩托品牌后转由该子公司运营摩托业务，此前还曾生产私人水上摩托艇产品。
FIVE vs PII — 直观对比
营收规模更大
PII
是对方的1.6倍
$1.0B
营收增速更快
FIVE
高出15.1%
8.0%
净利率更高
FIVE
高出6.4%
-2.8%
自由现金流更多
FIVE
多$209.3M
$-342.5M
两年增速更快
PII
近两年复合增速
-11.9%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $1.7B |
| 净利润 | $36.5M | $-47.2M |
| 毛利率 | 33.8% | 20.2% |
| 营业利润率 | 4.2% | — |
| 净利率 | 3.5% | -2.8% |
| 营收同比 | 23.1% | 8.0% |
| 净利润同比 | 2063.9% | 29.2% |
| 每股收益（稀释后） | $0.66 | $-0.83 |
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FIVEPII
| Q1 26 | — | $1.7B | ||
| Q4 25 | $1.0B | $1.9B | ||
| Q3 25 | $1.0B | $1.8B | ||
| Q2 25 | $970.5M | $1.9B | ||
| Q1 25 | $1.4B | $1.5B | ||
| Q4 24 | $843.7M | $1.8B | ||
| Q3 24 | $830.1M | $1.7B | ||
| Q2 24 | $811.9M | $2.0B |
净利润FIVEPII
| Q1 26 | — | $-47.2M | ||
| Q4 25 | $36.5M | $-303.6M | ||
| Q3 25 | $42.8M | $-15.8M | ||
| Q2 25 | $41.1M | $-79.3M | ||
| Q1 25 | $187.5M | $-66.8M | ||
| Q4 24 | $1.7M | $10.6M | ||
| Q3 24 | $33.0M | $27.7M | ||
| Q2 24 | $31.5M | $68.7M |
毛利率FIVEPII
| Q1 26 | — | 20.2% | ||
| Q4 25 | 33.8% | 20.0% | ||
| Q3 25 | 33.3% | 20.7% | ||
| Q2 25 | 33.4% | 19.4% | ||
| Q1 25 | 40.2% | 16.0% | ||
| Q4 24 | 30.6% | 20.4% | ||
| Q3 24 | 32.7% | 20.6% | ||
| Q2 24 | 32.5% | 21.6% |
营业利润率FIVEPII
| Q1 26 | — | — | ||
| Q4 25 | 4.2% | -16.7% | ||
| Q3 25 | 5.1% | 1.1% | ||
| Q2 25 | 5.2% | -0.7% | ||
| Q1 25 | 17.7% | -2.4% | ||
| Q4 24 | -0.1% | 3.7% | ||
| Q3 24 | 5.0% | 3.8% | ||
| Q2 24 | 4.5% | 6.1% |
净利率FIVEPII
| Q1 26 | — | -2.8% | ||
| Q4 25 | 3.5% | -15.8% | ||
| Q3 25 | 4.2% | -0.9% | ||
| Q2 25 | 4.2% | -4.3% | ||
| Q1 25 | 13.5% | -4.3% | ||
| Q4 24 | 0.2% | 0.6% | ||
| Q3 24 | 4.0% | 1.6% | ||
| Q2 24 | 3.9% | 3.5% |
每股收益（稀释后）FIVEPII
| Q1 26 | — | $-0.83 | ||
| Q4 25 | $0.66 | $-5.34 | ||
| Q3 25 | $0.77 | $-0.28 | ||
| Q2 25 | $0.75 | $-1.39 | ||
| Q1 25 | $3.40 | $-1.17 | ||
| Q4 24 | $0.03 | $0.18 | ||
| Q3 24 | $0.60 | $0.49 | ||
| Q2 24 | $0.57 | $1.21 |
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 | $524.5M | $282.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.0B | $750.4M |
| 总资产 | $4.8B | $5.2B |
| 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FIVEPII
| Q1 26 | — | $282.0M | ||
| Q4 25 | $524.5M | $138.0M | ||
| Q3 25 | $670.2M | $335.5M | ||
| Q2 25 | $624.0M | $324.3M | ||
| Q1 25 | $528.8M | $291.7M | ||
| Q4 24 | $216.6M | $287.8M | ||
| Q3 24 | $327.7M | $291.3M | ||
| Q2 24 | $369.6M | $322.7M |
总债务FIVEPII
| Q1 26 | — | — | ||
| Q4 25 | — | $1.5B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $1.6B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $2.1B |
股东权益FIVEPII
| Q1 26 | — | $750.4M | ||
| Q4 25 | $2.0B | $828.4M | ||
| Q3 25 | $1.9B | $1.1B | ||
| Q2 25 | $1.9B | $1.2B | ||
| Q1 25 | $1.8B | $1.2B | ||
| Q4 24 | $1.6B | $1.3B | ||
| Q3 24 | $1.6B | $1.3B | ||
| Q2 24 | $1.6B | $1.3B |
总资产FIVEPII
| Q1 26 | — | $5.2B | ||
| Q4 25 | $4.8B | $4.9B | ||
| Q3 25 | $4.6B | $5.3B | ||
| Q2 25 | $4.5B | $5.4B | ||
| Q1 25 | $4.3B | $5.5B | ||
| Q4 24 | $4.2B | $5.5B | ||
| Q3 24 | $4.0B | $5.6B | ||
| Q2 24 | $3.9B | $5.7B |
负债/权益比FIVEPII
| Q1 26 | — | — | ||
| Q4 25 | — | 1.82× | ||
| Q3 25 | — | 1.13× | ||
| Q2 25 | — | 1.17× | ||
| Q1 25 | — | 1.32× | ||
| Q4 24 | — | 1.27× | ||
| Q3 24 | — | 1.29× | ||
| Q2 24 | — | 1.56× |
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 | $-80.1M | — |
| 自由现金流经营现金流 - 资本支出 | $-133.2M | $-342.5M |
| 自由现金流率自由现金流/营收 | -12.8% | -20.6% |
| 资本支出强度资本支出/营收 | 5.1% | — |
| 现金转化率经营现金流/净利润 | -2.19× | — |
| 过去12个月自由现金流最近4个季度 | $323.0M | $168.0M |
8季度趋势，按日历期对齐
经营现金流FIVEPII
| Q1 26 | — | — | ||
| Q4 25 | $-80.1M | $178.7M | ||
| Q3 25 | $93.0M | $158.8M | ||
| Q2 25 | $132.7M | $320.3M | ||
| Q1 25 | $363.5M | $83.2M | ||
| Q4 24 | $-30.6M | $206.3M | ||
| Q3 24 | $71.3M | $21.0M | ||
| Q2 24 | $26.4M | $146.3M |
自由现金流FIVEPII
| Q1 26 | — | $-342.5M | ||
| Q4 25 | $-133.2M | $114.0M | ||
| Q3 25 | $48.3M | $116.7M | ||
| Q2 25 | $96.5M | $279.8M | ||
| Q1 25 | $311.4M | $47.6M | ||
| Q4 24 | $-111.0M | $137.3M | ||
| Q3 24 | $-32.4M | $-32.4M | ||
| Q2 24 | $-61.4M | $79.1M |
自由现金流率FIVEPII
| Q1 26 | — | -20.6% | ||
| Q4 25 | -12.8% | 5.9% | ||
| Q3 25 | 4.7% | 6.3% | ||
| Q2 25 | 9.9% | 15.1% | ||
| Q1 25 | 22.4% | 3.1% | ||
| Q4 24 | -13.2% | 7.8% | ||
| Q3 24 | -3.9% | -1.9% | ||
| Q2 24 | -7.6% | 4.0% |
资本支出强度FIVEPII
| Q1 26 | — | — | ||
| Q4 25 | 5.1% | 3.4% | ||
| Q3 25 | 4.4% | 2.3% | ||
| Q2 25 | 3.7% | 2.2% | ||
| Q1 25 | 3.7% | 2.3% | ||
| Q4 24 | 9.5% | 3.9% | ||
| Q3 24 | 12.5% | 3.1% | ||
| Q2 24 | 10.8% | 3.4% |
现金转化率FIVEPII
| Q1 26 | — | — | ||
| Q4 25 | -2.19× | — | ||
| Q3 25 | 2.17× | — | ||
| Q2 25 | 3.22× | — | ||
| Q1 25 | 1.94× | — | ||
| Q4 24 | -18.13× | 19.46× | ||
| Q3 24 | 2.16× | 0.76× | ||
| Q2 24 | 0.84× | 2.13× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
