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FIVE BELOW, INC（FIVE）与WHITE MOUNTAINS INSURANCE GROUP LTD（WTM）财务数据对比。点击上方公司名可切换其他公司
WHITE MOUNTAINS INSURANCE GROUP LTD的季度营收约是FIVE BELOW, INC的1.5倍（$1.6B vs $1.0B），WHITE MOUNTAINS INSURANCE GROUP LTD净利率更高（52.1% vs 3.5%，领先48.6%），WHITE MOUNTAINS INSURANCE GROUP LTD同比增速更快（348.0% vs 23.1%），过去两年WHITE MOUNTAINS INSURANCE GROUP LTD的营收复合增速更高（57.4% 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。
怀特山保险集团是一家多元化保险及相关金融服务控股企业，总部位于百慕大汉密尔顿，1999年10月25日从美国特拉华州迁册至当前注册地，大部分业务通过旗下保险子公司及其他关联机构开展，覆盖多个保险及金融服务细分赛道。
FIVE vs WTM — 直观对比
营收规模更大
WTM
是对方的1.5倍
$1.0B
营收增速更快
WTM
高出324.9%
23.1%
净利率更高
WTM
高出48.6%
3.5%
两年增速更快
WTM
近两年复合增速
-11.9%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $1.6B |
| 净利润 | $36.5M | $835.8M |
| 毛利率 | 33.8% | 97.1% |
| 营业利润率 | 4.2% | 56.2% |
| 净利率 | 3.5% | 52.1% |
| 营收同比 | 23.1% | 348.0% |
| 净利润同比 | 2063.9% | 741.0% |
| 每股收益（稀释后） | $0.66 | $325.02 |
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FIVEWTM
| Q4 25 | $1.0B | $1.6B | ||
| Q3 25 | $1.0B | $864.2M | ||
| Q2 25 | $970.5M | $689.2M | ||
| Q1 25 | $1.4B | $577.8M | ||
| Q4 24 | $843.7M | $358.0M | ||
| Q3 24 | $830.1M | $839.1M | ||
| Q2 24 | $811.9M | $395.4M | ||
| Q1 24 | $1.3B | $647.3M |
净利润FIVEWTM
| Q4 25 | $36.5M | $835.8M | ||
| Q3 25 | $42.8M | $113.8M | ||
| Q2 25 | $41.1M | $122.9M | ||
| Q1 25 | $187.5M | $33.9M | ||
| Q4 24 | $1.7M | $-130.4M | ||
| Q3 24 | $33.0M | $179.0M | ||
| Q2 24 | $31.5M | $-54.6M | ||
| Q1 24 | $202.2M | $236.4M |
毛利率FIVEWTM
| Q4 25 | 33.8% | 97.1% | ||
| Q3 25 | 33.3% | 93.6% | ||
| Q2 25 | 33.4% | 93.8% | ||
| Q1 25 | 40.2% | 98.7% | ||
| Q4 24 | 30.6% | 97.9% | ||
| Q3 24 | 32.7% | 99.1% | ||
| Q2 24 | 32.5% | 98.2% | ||
| Q1 24 | 41.2% | 98.8% |
营业利润率FIVEWTM
| Q4 25 | 4.2% | 56.2% | ||
| Q3 25 | 5.1% | 20.7% | ||
| Q2 25 | 5.2% | 25.6% | ||
| Q1 25 | 17.7% | 12.5% | ||
| Q4 24 | -0.1% | -33.7% | ||
| Q3 24 | 5.0% | 28.5% | ||
| Q2 24 | 4.5% | -8.8% | ||
| Q1 24 | 20.1% | 35.9% |
净利率FIVEWTM
| Q4 25 | 3.5% | 52.1% | ||
| Q3 25 | 4.2% | 13.2% | ||
| Q2 25 | 4.2% | 17.8% | ||
| Q1 25 | 13.5% | 5.9% | ||
| Q4 24 | 0.2% | -36.4% | ||
| Q3 24 | 4.0% | 21.3% | ||
| Q2 24 | 3.9% | -13.8% | ||
| Q1 24 | 15.1% | 36.5% |
每股收益（稀释后）FIVEWTM
| Q4 25 | $0.66 | $325.02 | ||
| Q3 25 | $0.77 | $44.18 | ||
| Q2 25 | $0.75 | $47.75 | ||
| Q1 25 | $3.40 | $13.19 | ||
| Q4 24 | $0.03 | $-50.98 | ||
| Q3 24 | $0.60 | $69.68 | ||
| Q2 24 | $0.57 | $-21.24 | ||
| Q1 24 | $3.64 | $92.33 |
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 | — |
| 总债务越低越好 | — | $837.0M |
| 股东权益账面价值 | $2.0B | $5.4B |
| 总资产 | $4.8B | $12.3B |
| 负债/权益比越低杠杆越低 | — | 0.15× |
8季度趋势，按日历期对齐
现金及短期投资FIVEWTM
| Q4 25 | $524.5M | — | ||
| Q3 25 | $670.2M | — | ||
| Q2 25 | $624.0M | — | ||
| Q1 25 | $528.8M | — | ||
| Q4 24 | $216.6M | — | ||
| Q3 24 | $327.7M | — | ||
| Q2 24 | $369.6M | — | ||
| Q1 24 | $460.1M | — |
总债务FIVEWTM
| Q4 25 | — | $837.0M | ||
| Q3 25 | — | $870.4M | ||
| Q2 25 | — | $694.6M | ||
| Q1 25 | — | $676.1M | ||
| Q4 24 | — | $562.5M | ||
| Q3 24 | — | $544.9M | ||
| Q2 24 | — | $530.2M | ||
| Q1 24 | — | $532.1M |
股东权益FIVEWTM
| Q4 25 | $2.0B | $5.4B | ||
| Q3 25 | $1.9B | $4.8B | ||
| Q2 25 | $1.9B | $4.6B | ||
| Q1 25 | $1.8B | $4.5B | ||
| Q4 24 | $1.6B | $4.5B | ||
| Q3 24 | $1.6B | $4.6B | ||
| Q2 24 | $1.6B | $4.4B | ||
| Q1 24 | $1.6B | $4.5B |
总资产FIVEWTM
| Q4 25 | $4.8B | $12.3B | ||
| Q3 25 | $4.6B | $12.3B | ||
| Q2 25 | $4.5B | $11.8B | ||
| Q1 25 | $4.3B | $11.0B | ||
| Q4 24 | $4.2B | $9.9B | ||
| Q3 24 | $4.0B | $10.3B | ||
| Q2 24 | $3.9B | $10.2B | ||
| Q1 24 | $3.9B | $9.6B |
负债/权益比FIVEWTM
| Q4 25 | — | 0.15× | ||
| Q3 25 | — | 0.18× | ||
| Q2 25 | — | 0.15× | ||
| Q1 25 | — | 0.15× | ||
| Q4 24 | — | 0.13× | ||
| Q3 24 | — | 0.12× | ||
| Q2 24 | — | 0.12× | ||
| Q1 24 | — | 0.12× |
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 | $53.9M |
| 自由现金流经营现金流 - 资本支出 | $-133.2M | — |
| 自由现金流率自由现金流/营收 | -12.8% | — |
| 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× | 0.06× |
| 过去12个月自由现金流最近4个季度 | $323.0M | — |
8季度趋势，按日历期对齐
经营现金流FIVEWTM
| Q4 25 | $-80.1M | $53.9M | ||
| Q3 25 | $93.0M | $359.3M | ||
| Q2 25 | $132.7M | $177.5M | ||
| Q1 25 | $363.5M | $-40.2M | ||
| Q4 24 | $-30.6M | $64.1M | ||
| Q3 24 | $71.3M | $269.4M | ||
| Q2 24 | $26.4M | $216.8M | ||
| Q1 24 | $407.7M | $36.5M |
自由现金流FIVEWTM
| Q4 25 | $-133.2M | — | ||
| Q3 25 | $48.3M | — | ||
| Q2 25 | $96.5M | — | ||
| Q1 25 | $311.4M | — | ||
| Q4 24 | $-111.0M | — | ||
| Q3 24 | $-32.4M | — | ||
| Q2 24 | $-61.4M | — | ||
| Q1 24 | $304.6M | — |
自由现金流率FIVEWTM
| Q4 25 | -12.8% | — | ||
| Q3 25 | 4.7% | — | ||
| Q2 25 | 9.9% | — | ||
| Q1 25 | 22.4% | — | ||
| Q4 24 | -13.2% | — | ||
| Q3 24 | -3.9% | — | ||
| Q2 24 | -7.6% | — | ||
| Q1 24 | 22.8% | — |
资本支出强度FIVEWTM
| Q4 25 | 5.1% | — | ||
| Q3 25 | 4.4% | — | ||
| Q2 25 | 3.7% | — | ||
| Q1 25 | 3.7% | — | ||
| Q4 24 | 9.5% | — | ||
| Q3 24 | 12.5% | — | ||
| Q2 24 | 10.8% | — | ||
| Q1 24 | 7.7% | — |
现金转化率FIVEWTM
| Q4 25 | -2.19× | 0.06× | ||
| Q3 25 | 2.17× | 3.16× | ||
| Q2 25 | 3.22× | 1.44× | ||
| Q1 25 | 1.94× | -1.19× | ||
| Q4 24 | -18.13× | — | ||
| Q3 24 | 2.16× | 1.51× | ||
| Q2 24 | 0.84× | — | ||
| Q1 24 | 2.02× | 0.15× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
