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Freedom Holding Corp.（FRHC）与BOSTON BEER CO INC（SAM）财务数据对比。点击上方公司名可切换其他公司
Freedom Holding Corp.的季度营收约是BOSTON BEER CO INC的1.4倍（$628.6M vs $461.6M），Freedom Holding Corp.同比增速更快（-4.1% vs -4.1%），过去两年Freedom Holding Corp.的营收复合增速更高（16.3% vs -10.7%）
Freedom Holding Corp.是在美国内华达州注册的投资集团，业务覆盖零售证券经纪交易、资产管理、资本市场服务、投研咨询、投行承销、抵押贷款、保险、银行及其他消费金融服务，核心布局美股、欧洲及以哈萨克斯坦为核心的中亚市场。
波士顿啤酒公司是美国知名酿酒企业，1984年由吉姆·科赫与朗达·卡尔曼联合创立。旗下首款产品以美国开国元勋、独立运动先驱塞缪尔·亚当斯命名，后续陆续推出多个自有品牌，2019年正式完成与角鲨头酿酒厂的合并，是北美精酿啤酒行业的核心参与者之一。
FRHC vs SAM — 直观对比
营收规模更大
FRHC
是对方的1.4倍
$461.6M
营收增速更快
FRHC
高出0.1%
-4.1%
两年增速更快
FRHC
近两年复合增速
-10.7%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $628.6M | $461.6M |
| 净利润 | $76.2M | — |
| 毛利率 | 96.0% | 46.4% |
| 营业利润率 | 14.9% | 12.4% |
| 净利率 | 12.1% | — |
| 营收同比 | -4.1% | -4.1% |
| 净利润同比 | -2.6% | — |
| 每股收益（稀释后） | $1.25 | $2.16 |
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FRHCSAM
| Q1 26 | — | $461.6M | ||
| Q4 25 | $628.6M | $385.7M | ||
| Q3 25 | $526.1M | $537.5M | ||
| Q2 25 | $533.4M | $587.9M | ||
| Q1 25 | $363.7M | $453.9M | ||
| Q4 24 | $655.2M | $402.3M | ||
| Q3 24 | $580.9M | $605.5M | ||
| Q2 24 | $450.7M | $579.1M |
净利润FRHCSAM
| Q1 26 | — | — | ||
| Q4 25 | $76.2M | $-22.5M | ||
| Q3 25 | $38.7M | $46.2M | ||
| Q2 25 | $30.4M | $60.4M | ||
| Q1 25 | $-142.7M | $24.4M | ||
| Q4 24 | $78.3M | $-38.8M | ||
| Q3 24 | $114.7M | $33.5M | ||
| Q2 24 | $34.4M | $52.3M |
毛利率FRHCSAM
| Q1 26 | — | 46.4% | ||
| Q4 25 | 96.0% | 43.5% | ||
| Q3 25 | 97.1% | 50.8% | ||
| Q2 25 | 97.4% | 49.8% | ||
| Q1 25 | 96.6% | 48.3% | ||
| Q4 24 | 98.6% | 39.9% | ||
| Q3 24 | 99.1% | 46.3% | ||
| Q2 24 | 99.0% | 46.0% |
营业利润率FRHCSAM
| Q1 26 | — | 12.4% | ||
| Q4 25 | 14.9% | -8.6% | ||
| Q3 25 | 11.5% | 11.5% | ||
| Q2 25 | 7.6% | 14.0% | ||
| Q1 25 | -42.7% | 7.4% | ||
| Q4 24 | 15.0% | -13.9% | ||
| Q3 24 | 22.1% | 7.6% | ||
| Q2 24 | 9.2% | 12.2% |
净利率FRHCSAM
| Q1 26 | — | — | ||
| Q4 25 | 12.1% | -5.8% | ||
| Q3 25 | 7.4% | 8.6% | ||
| Q2 25 | 5.7% | 10.3% | ||
| Q1 25 | -39.2% | 5.4% | ||
| Q4 24 | 11.9% | -9.6% | ||
| Q3 24 | 19.7% | 5.5% | ||
| Q2 24 | 7.6% | 9.0% |
每股收益（稀释后）FRHCSAM
| Q1 26 | — | $2.16 | ||
| Q4 25 | $1.25 | $-1.97 | ||
| Q3 25 | $0.63 | $4.25 | ||
| Q2 25 | $0.50 | $5.45 | ||
| Q1 25 | $-2.35 | $2.16 | ||
| Q4 24 | $1.29 | $-3.23 | ||
| Q3 24 | $1.89 | $2.86 | ||
| Q2 24 | $0.57 | $4.39 |
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 | $869.2M | $164.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.4B | $682.6M |
| 总资产 | $12.4B | $1.2B |
| 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FRHCSAM
| Q1 26 | — | $164.1M | ||
| Q4 25 | $869.2M | $223.4M | ||
| Q3 25 | $636.0M | $250.5M | ||
| Q2 25 | $567.9M | $212.4M | ||
| Q1 25 | $837.3M | $152.5M | ||
| Q4 24 | $577.9M | $211.8M | ||
| Q3 24 | $569.2M | $255.6M | ||
| Q2 24 | $718.7M | $219.3M |
股东权益FRHCSAM
| Q1 26 | — | $682.6M | ||
| Q4 25 | $1.4B | $846.3M | ||
| Q3 25 | $1.2B | $911.0M | ||
| Q2 25 | $1.2B | $912.3M | ||
| Q1 25 | $1.2B | $897.0M | ||
| Q4 24 | $1.3B | $916.2M | ||
| Q3 24 | $1.3B | $1.0B | ||
| Q2 24 | $1.1B | $1.0B |
总资产FRHCSAM
| Q1 26 | — | $1.2B | ||
| Q4 25 | $12.4B | $1.2B | ||
| Q3 25 | $10.3B | $1.2B | ||
| Q2 25 | $9.7B | $1.3B | ||
| Q1 25 | $9.9B | $1.2B | ||
| Q4 24 | $9.1B | $1.3B | ||
| Q3 24 | $8.8B | $1.4B | ||
| Q2 24 | $8.5B | $1.4B |
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 | $717.8M | — |
| 自由现金流经营现金流 - 资本支出 | $651.7M | — |
| 自由现金流率自由现金流/营收 | 103.7% | — |
| 资本支出强度资本支出/营收 | 10.5% | — |
| 现金转化率经营现金流/净利润 | 9.42× | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流FRHCSAM
| Q1 26 | — | — | ||
| Q4 25 | $717.8M | $39.9M | ||
| Q3 25 | $535.3M | $101.8M | ||
| Q2 25 | $480.8M | $126.5M | ||
| Q1 25 | $1.3B | $1.9M | ||
| Q4 24 | $-72.8M | $41.9M | ||
| Q3 24 | $-438.0M | $115.9M | ||
| Q2 24 | $854.1M | $96.0M |
自由现金流FRHCSAM
| Q1 26 | — | — | ||
| Q4 25 | $651.7M | $22.1M | ||
| Q3 25 | $456.4M | $89.2M | ||
| Q2 25 | $450.0M | $112.2M | ||
| Q1 25 | — | $-8.0M | ||
| Q4 24 | $-92.7M | $18.4M | ||
| Q3 24 | $-447.5M | $99.2M | ||
| Q2 24 | $829.9M | $75.6M |
自由现金流率FRHCSAM
| Q1 26 | — | — | ||
| Q4 25 | 103.7% | 5.7% | ||
| Q3 25 | 86.7% | 16.6% | ||
| Q2 25 | 84.4% | 19.1% | ||
| Q1 25 | — | -1.8% | ||
| Q4 24 | -14.1% | 4.6% | ||
| Q3 24 | -77.0% | 16.4% | ||
| Q2 24 | 184.1% | 13.1% |
资本支出强度FRHCSAM
| Q1 26 | — | — | ||
| Q4 25 | 10.5% | 4.6% | ||
| Q3 25 | 15.0% | 2.3% | ||
| Q2 25 | 5.8% | 2.4% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | 3.0% | 5.8% | ||
| Q3 24 | 1.6% | 2.8% | ||
| Q2 24 | 5.4% | 3.5% |
现金转化率FRHCSAM
| Q1 26 | — | — | ||
| Q4 25 | 9.42× | — | ||
| Q3 25 | 13.82× | 2.21× | ||
| Q2 25 | 15.82× | 2.09× | ||
| Q1 25 | — | 0.08× | ||
| Q4 24 | -0.93× | — | ||
| Q3 24 | -3.82× | 3.46× | ||
| Q2 24 | 24.83× | 1.83× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
