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佳明（GRMN）与Williams-Sonoma, Inc.（WSM）财务数据对比。点击上方公司名可切换其他公司
佳明的季度营收约是Williams-Sonoma, Inc.的1.1倍（$2.1B vs $1.9B），佳明净利率更高（24.9% vs 12.8%，领先12.0%），佳明同比增速更快（16.6% vs 4.6%），佳明自由现金流更多（$429.6M vs $248.1M），过去两年佳明的营收复合增速更高（24.0% vs -9.1%）
佳明（Garmin）是总部位于美国堪萨斯州奥拉西的跨国科技企业，专注于设计、研发、生产及销售GPS功能产品，以及导航、通讯、传感类信息产品，业务覆盖汽车、航空、航海、户外、运动健身等多个领域。
Williams-Sonoma, Inc.是美国知名家居零售企业，1956年由查尔斯·E·威廉姆斯创立，主营高品质炊具、家居家电、家居软装等多元品类产品，在家居消费领域拥有广泛的用户基础与较高的市场认可度。
GRMN vs WSM — 直观对比
营收规模更大
GRMN
是对方的1.1倍
$1.9B
营收增速更快
GRMN
高出12.0%
4.6%
净利率更高
GRMN
高出12.0%
12.8%
自由现金流更多
GRMN
多$181.5M
$248.1M
两年增速更快
GRMN
近两年复合增速
-9.1%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $1.9B |
| 净利润 | $528.7M | $241.6M |
| 毛利率 | 59.2% | 46.1% |
| 营业利润率 | 28.9% | 17.0% |
| 净利率 | 24.9% | 12.8% |
| 营收同比 | 16.6% | 4.6% |
| 净利润同比 | 21.3% | -3.0% |
| 每股收益（稀释后） | $2.72 | $1.96 |
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GRMNWSM
| Q4 25 | $2.1B | $1.9B | ||
| Q3 25 | $1.8B | $1.8B | ||
| Q2 25 | $1.8B | $1.7B | ||
| Q1 25 | $1.5B | $2.5B | ||
| Q4 24 | $1.8B | $1.8B | ||
| Q3 24 | $1.6B | $1.8B | ||
| Q2 24 | $1.5B | $1.7B | ||
| Q1 24 | $1.4B | $2.3B |
净利润GRMNWSM
| Q4 25 | $528.7M | $241.6M | ||
| Q3 25 | $401.6M | $247.6M | ||
| Q2 25 | $400.8M | $231.3M | ||
| Q1 25 | $332.8M | $384.9M | ||
| Q4 24 | $435.7M | $249.0M | ||
| Q3 24 | $399.1M | $225.7M | ||
| Q2 24 | $300.6M | $265.7M | ||
| Q1 24 | $276.0M | $354.4M |
毛利率GRMNWSM
| Q4 25 | 59.2% | 46.1% | ||
| Q3 25 | 59.1% | 47.1% | ||
| Q2 25 | 58.8% | 44.3% | ||
| Q1 25 | 57.6% | 45.2% | ||
| Q4 24 | 59.3% | 46.7% | ||
| Q3 24 | 60.0% | 46.2% | ||
| Q2 24 | 57.3% | 48.3% | ||
| Q1 24 | 58.1% | 46.0% |
营业利润率GRMNWSM
| Q4 25 | 28.9% | 17.0% | ||
| Q3 25 | 25.8% | 17.9% | ||
| Q2 25 | 26.0% | 16.8% | ||
| Q1 25 | 21.7% | 20.1% | ||
| Q4 24 | 28.3% | 17.8% | ||
| Q3 24 | 27.6% | 16.2% | ||
| Q2 24 | 22.7% | 19.5% | ||
| Q1 24 | 21.6% | 20.1% |
净利率GRMNWSM
| Q4 25 | 24.9% | 12.8% | ||
| Q3 25 | 22.7% | 13.5% | ||
| Q2 25 | 22.1% | 13.4% | ||
| Q1 25 | 21.7% | 15.6% | ||
| Q4 24 | 23.9% | 13.8% | ||
| Q3 24 | 25.2% | 12.6% | ||
| Q2 24 | 20.0% | 16.0% | ||
| Q1 24 | 20.0% | 15.6% |
每股收益（稀释后）GRMNWSM
| Q4 25 | $2.72 | $1.96 | ||
| Q3 25 | $2.08 | $2.00 | ||
| Q2 25 | $2.07 | $1.85 | ||
| Q1 25 | $1.72 | $1.02 | ||
| Q4 24 | $2.24 | $1.96 | ||
| Q3 24 | $2.07 | $1.74 | ||
| Q2 24 | $1.56 | $4.07 | ||
| Q1 24 | $1.43 | $5.42 |
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 | $2.3B | $884.7M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $9.0B | $2.1B |
| 总资产 | $11.0B | $5.3B |
| 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GRMNWSM
| Q4 25 | $2.3B | $884.7M | ||
| Q3 25 | $2.1B | $985.8M | ||
| Q2 25 | $2.1B | $1.0B | ||
| Q1 25 | $2.2B | $1.2B | ||
| Q4 24 | $2.1B | $826.8M | ||
| Q3 24 | $2.0B | $1.3B | ||
| Q2 24 | $1.9B | $1.3B | ||
| Q1 24 | $1.9B | $1.3B |
股东权益GRMNWSM
| Q4 25 | $9.0B | $2.1B | ||
| Q3 25 | $8.5B | $2.1B | ||
| Q2 25 | $8.1B | $2.2B | ||
| Q1 25 | $8.2B | $2.1B | ||
| Q4 24 | $7.8B | $1.9B | ||
| Q3 24 | $7.5B | $2.3B | ||
| Q2 24 | $7.0B | $2.2B | ||
| Q1 24 | $7.2B | $2.1B |
总资产GRMNWSM
| Q4 25 | $11.0B | $5.3B | ||
| Q3 25 | $10.5B | $5.2B | ||
| Q2 25 | $10.3B | $5.2B | ||
| Q1 25 | $9.8B | $5.3B | ||
| Q4 24 | $9.6B | $5.0B | ||
| Q3 24 | $9.3B | $5.2B | ||
| Q2 24 | $8.9B | $5.2B | ||
| Q1 24 | $8.6B | $5.3B |
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 | $553.8M | $316.3M |
| 自由现金流经营现金流 - 资本支出 | $429.6M | $248.1M |
| 自由现金流率自由现金流/营收 | 20.2% | 13.2% |
| 资本支出强度资本支出/营收 | 5.8% | 3.6% |
| 现金转化率经营现金流/净利润 | 1.05× | 1.31× |
| 过去12个月自由现金流最近4个季度 | $1.4B | $1.1B |
8季度趋势，按日历期对齐
经营现金流GRMNWSM
| Q4 25 | $553.8M | $316.3M | ||
| Q3 25 | $485.6M | $282.7M | ||
| Q2 25 | $173.2M | $118.9M | ||
| Q1 25 | $420.8M | $633.5M | ||
| Q4 24 | $483.9M | $253.5M | ||
| Q3 24 | $258.0M | $246.5M | ||
| Q2 24 | $255.3M | $226.8M | ||
| Q1 24 | $435.3M | $674.9M |
自由现金流GRMNWSM
| Q4 25 | $429.6M | $248.1M | ||
| Q3 25 | $425.1M | $230.7M | ||
| Q2 25 | $127.5M | $60.7M | ||
| Q1 25 | $380.7M | $566.3M | ||
| Q4 24 | $399.2M | $170.1M | ||
| Q3 24 | $219.4M | $215.1M | ||
| Q2 24 | $218.2M | $187.3M | ||
| Q1 24 | $402.1M | $621.2M |
自由现金流率GRMNWSM
| Q4 25 | 20.2% | 13.2% | ||
| Q3 25 | 24.0% | 12.6% | ||
| Q2 25 | 7.0% | 3.5% | ||
| Q1 25 | 24.8% | 23.0% | ||
| Q4 24 | 21.9% | 9.4% | ||
| Q3 24 | 13.8% | 12.0% | ||
| Q2 24 | 14.5% | 11.3% | ||
| Q1 24 | 29.1% | 27.3% |
资本支出强度GRMNWSM
| Q4 25 | 5.8% | 3.6% | ||
| Q3 25 | 3.4% | 2.8% | ||
| Q2 25 | 2.5% | 3.4% | ||
| Q1 25 | 2.6% | 2.7% | ||
| Q4 24 | 4.6% | 4.6% | ||
| Q3 24 | 2.4% | 1.8% | ||
| Q2 24 | 2.5% | 2.4% | ||
| Q1 24 | 2.4% | 2.4% |
现金转化率GRMNWSM
| Q4 25 | 1.05× | 1.31× | ||
| Q3 25 | 1.21× | 1.14× | ||
| Q2 25 | 0.43× | 0.51× | ||
| Q1 25 | 1.26× | 1.65× | ||
| Q4 24 | 1.11× | 1.02× | ||
| Q3 24 | 0.65× | 1.09× | ||
| Q2 24 | 0.85× | 0.85× | ||
| Q1 24 | 1.58× | 1.90× |
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
GRMN
| Fitness Segment | $765.8M | 36% |
| Outdoor Segment | $627.6M | 30% |
| Marine Segment | $296.9M | 14% |
| Aviation Segment | $274.2M | 13% |
| Auto Oem Segment | $160.4M | 8% |
WSM
暂无分部数据
