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J&J SNACK FOODS CORP（JJSF）与罗塞塔石碑（STEP）财务数据对比。点击上方公司名可切换其他公司
罗塞塔石碑的季度营收约是J&J SNACK FOODS CORP的1.7倍（$586.5M vs $343.8M），J&J SNACK FOODS CORP净利率更高（0.3% vs -21.0%，领先21.3%），罗塞塔石碑同比增速更快（73.0% vs -5.2%），罗塞塔石碑自由现金流更多（$26.7M vs $17.0M），过去两年罗塞塔石碑的营收复合增速更高（28.2% vs -2.2%）
强生休闲食品公司（J&J Snack Foods Corp.）是美国知名的品牌休闲食品与冷冻饮品生产商、营销商及分销商，总部位于新泽西州芒特劳雷尔，在全美44个州、墨西哥及加拿大设有超175个生产、仓储及配送设施，于纳斯达克全球精选市场上市，业务覆盖国内外市场。
罗塞塔石碑是美国教育科技软件企业，开发语言学习、读写能力提升及脑训练类软件，旗下语言学习产品知名度极高。2013年公司收购Livemocha、Lexia Learning等品牌拓展教育科技业务矩阵，2021年正式成为IXL Learning的子公司。
JJSF vs STEP — 直观对比
营收规模更大
STEP
是对方的1.7倍
$343.8M
营收增速更快
STEP
高出78.2%
-5.2%
净利率更高
JJSF
高出21.3%
-21.0%
自由现金流更多
STEP
多$9.8M
$17.0M
两年增速更快
STEP
近两年复合增速
-2.2%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $343.8M | $586.5M |
| 净利润 | $883.0K | $-123.5M |
| 毛利率 | 27.9% | — |
| 营业利润率 | 0.2% | -33.2% |
| 净利率 | 0.3% | -21.0% |
| 营收同比 | -5.2% | 73.0% |
| 净利润同比 | -82.8% | 35.7% |
| 每股收益（稀释后） | $0.05 | $-1.55 |
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JJSFSTEP
| Q4 25 | $343.8M | $586.5M | ||
| Q3 25 | $410.2M | $454.2M | ||
| Q2 25 | $454.3M | $364.3M | ||
| Q1 25 | $356.1M | $377.7M | ||
| Q4 24 | $362.6M | $339.0M | ||
| Q3 24 | $426.8M | $271.7M | ||
| Q2 24 | $440.0M | $186.4M | ||
| Q1 24 | $359.7M | $356.8M |
净利润JJSFSTEP
| Q4 25 | $883.0K | $-123.5M | ||
| Q3 25 | $11.4M | $-366.1M | ||
| Q2 25 | $44.2M | $-38.4M | ||
| Q1 25 | $4.8M | $-18.5M | ||
| Q4 24 | $5.1M | $-192.0M | ||
| Q3 24 | $29.6M | $17.6M | ||
| Q2 24 | $36.3M | $13.3M | ||
| Q1 24 | $13.3M | $30.8M |
毛利率JJSFSTEP
| Q4 25 | 27.9% | — | ||
| Q3 25 | 31.7% | — | ||
| Q2 25 | 33.0% | — | ||
| Q1 25 | 26.9% | — | ||
| Q4 24 | 25.9% | — | ||
| Q3 24 | 31.8% | — | ||
| Q2 24 | 33.6% | — | ||
| Q1 24 | 30.1% | — |
营业利润率JJSFSTEP
| Q4 25 | 0.2% | -33.2% | ||
| Q3 25 | 2.8% | -148.8% | ||
| Q2 25 | 13.3% | -5.6% | ||
| Q1 25 | 1.7% | 2.6% | ||
| Q4 24 | 1.7% | -101.7% | ||
| Q3 24 | 9.3% | 21.3% | ||
| Q2 24 | 11.4% | 29.4% | ||
| Q1 24 | 5.0% | 26.5% |
净利率JJSFSTEP
| Q4 25 | 0.3% | -21.0% | ||
| Q3 25 | 2.8% | -80.6% | ||
| Q2 25 | 9.7% | -10.5% | ||
| Q1 25 | 1.4% | -4.9% | ||
| Q4 24 | 1.4% | -56.6% | ||
| Q3 24 | 6.9% | 6.5% | ||
| Q2 24 | 8.3% | 7.2% | ||
| Q1 24 | 3.7% | 8.6% |
每股收益（稀释后）JJSFSTEP
| Q4 25 | $0.05 | $-1.55 | ||
| Q3 25 | $0.59 | $-4.66 | ||
| Q2 25 | $2.26 | $-0.49 | ||
| Q1 25 | $0.25 | $-0.37 | ||
| Q4 24 | $0.26 | $-2.61 | ||
| Q3 24 | $1.52 | $0.26 | ||
| Q2 24 | $1.87 | $0.20 | ||
| Q1 24 | $0.69 | $0.47 |
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 | $66.8M | — |
| 总债务越低越好 | — | $270.2M |
| 股东权益账面价值 | $912.9M | $-378.8M |
| 总资产 | $1.3B | $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JJSFSTEP
| Q4 25 | $66.8M | — | ||
| Q3 25 | $105.9M | — | ||
| Q2 25 | $77.4M | — | ||
| Q1 25 | $48.5M | — | ||
| Q4 24 | $73.6M | — | ||
| Q3 24 | $73.4M | — | ||
| Q2 24 | $64.0M | — | ||
| Q1 24 | $43.6M | — |
总债务JJSFSTEP
| Q4 25 | — | $270.2M | ||
| Q3 25 | — | $269.9M | ||
| Q2 25 | — | $269.6M | ||
| Q1 25 | — | $269.3M | ||
| Q4 24 | — | $168.9M | ||
| Q3 24 | — | $172.3M | ||
| Q2 24 | — | $172.1M | ||
| Q1 24 | — | $148.8M |
股东权益JJSFSTEP
| Q4 25 | $912.9M | $-378.8M | ||
| Q3 25 | $966.7M | $-233.5M | ||
| Q2 25 | $969.9M | $153.9M | ||
| Q1 25 | $935.0M | $179.4M | ||
| Q4 24 | $946.8M | $209.8M | ||
| Q3 24 | $957.0M | $397.5M | ||
| Q2 24 | $937.9M | $366.9M | ||
| Q1 24 | $915.7M | $324.5M |
总资产JJSFSTEP
| Q4 25 | $1.3B | $5.2B | ||
| Q3 25 | $1.4B | $5.3B | ||
| Q2 25 | $1.4B | $4.8B | ||
| Q1 25 | $1.4B | $4.6B | ||
| Q4 24 | $1.3B | $4.3B | ||
| Q3 24 | $1.4B | $4.0B | ||
| Q2 24 | $1.4B | $3.8B | ||
| Q1 24 | $1.3B | $3.8B |
负债/权益比JJSFSTEP
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 1.75× | ||
| Q1 25 | — | 1.50× | ||
| Q4 24 | — | 0.81× | ||
| Q3 24 | — | 0.43× | ||
| Q2 24 | — | 0.47× | ||
| Q1 24 | — | 0.46× |
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 | $36.0M | $27.2M |
| 自由现金流经营现金流 - 资本支出 | $17.0M | $26.7M |
| 自由现金流率自由现金流/营收 | 4.9% | 4.6% |
| 资本支出强度资本支出/营收 | 5.5% | 0.1% |
| 现金转化率经营现金流/净利润 | 40.73× | — |
| 过去12个月自由现金流最近4个季度 | $83.1M | $18.6M |
8季度趋势，按日历期对齐
经营现金流JJSFSTEP
| Q4 25 | $36.0M | $27.2M | ||
| Q3 25 | $66.4M | $16.2M | ||
| Q2 25 | $51.2M | $46.3M | ||
| Q1 25 | $12.3M | $-66.5M | ||
| Q4 24 | $35.2M | $27.6M | ||
| Q3 24 | $46.3M | $53.7M | ||
| Q2 24 | $65.0M | $50.2M | ||
| Q1 24 | $12.7M | $7.6M |
自由现金流JJSFSTEP
| Q4 25 | $17.0M | $26.7M | ||
| Q3 25 | $44.8M | $15.9M | ||
| Q2 25 | $28.5M | $45.2M | ||
| Q1 25 | $-7.2M | $-69.2M | ||
| Q4 24 | $16.1M | $27.0M | ||
| Q3 24 | $29.1M | $52.4M | ||
| Q2 24 | $45.3M | $49.6M | ||
| Q1 24 | $-4.0M | $6.7M |
自由现金流率JJSFSTEP
| Q4 25 | 4.9% | 4.6% | ||
| Q3 25 | 10.9% | 3.5% | ||
| Q2 25 | 6.3% | 12.4% | ||
| Q1 25 | -2.0% | -18.3% | ||
| Q4 24 | 4.4% | 8.0% | ||
| Q3 24 | 6.8% | 19.3% | ||
| Q2 24 | 10.3% | 26.6% | ||
| Q1 24 | -1.1% | 1.9% |
资本支出强度JJSFSTEP
| Q4 25 | 5.5% | 0.1% | ||
| Q3 25 | 5.3% | 0.1% | ||
| Q2 25 | 5.0% | 0.3% | ||
| Q1 25 | 5.5% | 0.7% | ||
| Q4 24 | 5.3% | 0.2% | ||
| Q3 24 | 4.0% | 0.5% | ||
| Q2 24 | 4.5% | 0.3% | ||
| Q1 24 | 4.6% | 0.3% |
现金转化率JJSFSTEP
| Q4 25 | 40.73× | — | ||
| Q3 25 | 5.84× | — | ||
| Q2 25 | 1.16× | — | ||
| Q1 25 | 2.55× | — | ||
| Q4 24 | 6.84× | — | ||
| Q3 24 | 1.56× | 3.05× | ||
| Q2 24 | 1.79× | 3.76× | ||
| Q1 24 | 0.96× | 0.25× |
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
JJSF
| Food Service | $219.2M | 64% |
| Frozen Beverages | $78.7M | 23% |
| Repair And Maintenance Service | $22.5M | 7% |
| Other | $12.7M | 4% |
| Machine Sales | $10.7M | 3% |
STEP
| Other | $210.1M | 36% |
| Management And Advisory Fees Net Focused Commingled Funds | $143.3M | 24% |
| Carried Interest Allocation Focused Commingled Funds | $85.1M | 15% |
| Carried Interest Allocation Separately Managed Accounts | $63.6M | 11% |
| Carried Interest Allocation Realized | $46.7M | 8% |
| Management And Advisory Fees Net Advisory And Other Services | $18.3M | 3% |
| Legacy Carried Interest Allocation Focused Commingled Funds | $10.3M | 2% |
| Income Based Incentive Fees | $6.0M | 1% |
| Management And Advisory Fees Net Fund Reimbursement Revenues | $3.1M | 1% |
