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李维斯（LEVI）与利氏兄弟拍卖行（RBA）财务数据对比。点击上方公司名可切换其他公司
李维斯的季度营收约是利氏兄弟拍卖行的1.5倍（$1.8B vs $1.2B），利氏兄弟拍卖行净利率更高（9.1% vs 8.9%，领先0.2%），利氏兄弟拍卖行同比增速更快（5.4% vs -4.0%），李维斯自由现金流更多（$215.7M vs $186.5M），过去两年李维斯的营收复合增速更高（6.5% vs 6.3%）
李维斯（Levi Strauss & Co.）是全球知名的美国服饰企业，凭借旗下Levi's品牌丹宁牛仔裤享誉全球。公司创立于1853年5月，由德裔犹太移民李维·斯特劳斯在旧金山成立，注册地为特拉华州，总部设在旧金山李维斯广场。
利氏兄弟拍卖行（股票代码RBA）是全球知名的工业资产拍卖服务商，注册地位于加拿大，属公开上市企业，总部设在美国伊利诺伊州韦斯特切斯特，普通股同时在多伦多证券交易所与纽约证券交易所挂牌交易。
LEVI vs RBA — 直观对比
营收规模更大
LEVI
是对方的1.5倍
$1.2B
营收增速更快
RBA
高出9.4%
-4.0%
净利率更高
RBA
高出0.2%
8.9%
自由现金流更多
LEVI
多$29.2M
$186.5M
两年增速更快
LEVI
近两年复合增速
6.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $1.2B |
| 净利润 | $158.0M | $109.7M |
| 毛利率 | 60.8% | — |
| 营业利润率 | 11.9% | 14.7% |
| 净利率 | 8.9% | 9.1% |
| 营收同比 | -4.0% | 5.4% |
| 净利润同比 | -13.4% | -7.4% |
| 每股收益（稀释后） | $0.39 | $0.53 |
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LEVIRBA
| Q4 25 | $1.8B | $1.2B | ||
| Q3 25 | $1.5B | $1.1B | ||
| Q2 25 | $1.4B | $1.2B | ||
| Q1 25 | $1.5B | $1.1B | ||
| Q4 24 | $1.8B | $1.1B | ||
| Q3 24 | $1.5B | $981.8M | ||
| Q2 24 | $1.4B | $1.1B | ||
| Q1 24 | $1.6B | $1.1B |
净利润LEVIRBA
| Q4 25 | $158.0M | $109.7M | ||
| Q3 25 | $218.1M | $95.5M | ||
| Q2 25 | $67.0M | $109.8M | ||
| Q1 25 | $135.0M | $113.4M | ||
| Q4 24 | $182.5M | $118.5M | ||
| Q3 24 | $20.7M | $76.1M | ||
| Q2 24 | $18.0M | $111.1M | ||
| Q1 24 | $-10.6M | $107.4M |
毛利率LEVIRBA
| Q4 25 | 60.8% | — | ||
| Q3 25 | 61.7% | — | ||
| Q2 25 | 62.6% | — | ||
| Q1 25 | 62.1% | — | ||
| Q4 24 | 61.3% | — | ||
| Q3 24 | 60.0% | — | ||
| Q2 24 | 60.5% | — | ||
| Q1 24 | 58.2% | — |
营业利润率LEVIRBA
| Q4 25 | 11.9% | 14.7% | ||
| Q3 25 | 10.8% | 14.5% | ||
| Q2 25 | 7.5% | 15.9% | ||
| Q1 25 | 12.5% | 17.1% | ||
| Q4 24 | 11.5% | 18.1% | ||
| Q3 24 | 2.0% | 15.6% | ||
| Q2 24 | 1.5% | 18.4% | ||
| Q1 24 | -0.0% | 18.7% |
净利率LEVIRBA
| Q4 25 | 8.9% | 9.1% | ||
| Q3 25 | 14.1% | 8.7% | ||
| Q2 25 | 4.6% | 9.3% | ||
| Q1 25 | 8.8% | 10.2% | ||
| Q4 24 | 9.9% | 10.4% | ||
| Q3 24 | 1.4% | 7.8% | ||
| Q2 24 | 1.2% | 10.1% | ||
| Q1 24 | -0.7% | 10.1% |
每股收益（稀释后）LEVIRBA
| Q4 25 | $0.39 | $0.53 | ||
| Q3 25 | $0.55 | $0.43 | ||
| Q2 25 | $0.17 | $0.53 | ||
| Q1 25 | $0.34 | $0.55 | ||
| Q4 24 | $0.46 | $0.58 | ||
| Q3 24 | $0.05 | $0.36 | ||
| Q2 24 | $0.04 | $0.54 | ||
| Q1 24 | $-0.03 | $0.53 |
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 | $848.8M | $531.5M |
| 总债务越低越好 | $1.1B | $2.3B |
| 股东权益账面价值 | $2.3B | $5.6B |
| 总资产 | $6.8B | $12.1B |
| 负债/权益比越低杠杆越低 | 0.46× | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资LEVIRBA
| Q4 25 | $848.8M | $531.5M | ||
| Q3 25 | $707.5M | $674.7M | ||
| Q2 25 | $736.7M | $710.2M | ||
| Q1 25 | $574.4M | $578.1M | ||
| Q4 24 | $690.0M | $533.9M | ||
| Q3 24 | $577.1M | $650.7M | ||
| Q2 24 | $641.4M | $599.5M | ||
| Q1 24 | $516.7M | $462.8M |
总债务LEVIRBA
| Q4 25 | $1.1B | $2.3B | ||
| Q3 25 | $1.0B | $2.6B | ||
| Q2 25 | $1.0B | $2.6B | ||
| Q1 25 | $987.4M | $2.6B | ||
| Q4 24 | $994.0M | $2.6B | ||
| Q3 24 | $1.0B | $2.7B | ||
| Q2 24 | $1.0B | $2.8B | ||
| Q1 24 | $1.0B | $2.9B |
股东权益LEVIRBA
| Q4 25 | $2.3B | $5.6B | ||
| Q3 25 | $2.2B | $5.5B | ||
| Q2 25 | $2.1B | $5.5B | ||
| Q1 25 | $2.0B | $5.3B | ||
| Q4 24 | $2.0B | $5.2B | ||
| Q3 24 | $1.9B | $5.2B | ||
| Q2 24 | $2.0B | $5.2B | ||
| Q1 24 | $2.0B | $5.1B |
总资产LEVIRBA
| Q4 25 | $6.8B | $12.1B | ||
| Q3 25 | $6.7B | $12.2B | ||
| Q2 25 | $6.5B | $12.2B | ||
| Q1 25 | $6.2B | $11.9B | ||
| Q4 24 | $6.4B | $11.8B | ||
| Q3 24 | $6.3B | $11.9B | ||
| Q2 24 | $6.2B | $12.1B | ||
| Q1 24 | $6.0B | $12.0B |
负债/权益比LEVIRBA
| Q4 25 | 0.46× | 0.42× | ||
| Q3 25 | 0.48× | 0.47× | ||
| Q2 25 | 0.49× | 0.47× | ||
| Q1 25 | 0.49× | 0.50× | ||
| Q4 24 | 0.50× | 0.50× | ||
| Q3 24 | 0.54× | 0.52× | ||
| Q2 24 | 0.51× | 0.55× | ||
| Q1 24 | 0.51× | 0.58× |
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 | $266.8M | $255.2M |
| 自由现金流经营现金流 - 资本支出 | $215.7M | $186.5M |
| 自由现金流率自由现金流/营收 | 12.2% | 15.5% |
| 资本支出强度资本支出/营收 | 2.9% | 5.7% |
| 现金转化率经营现金流/净利润 | 1.69× | 2.33× |
| 过去12个月自由现金流最近4个季度 | $308.2M | $719.2M |
8季度趋势，按日历期对齐
经营现金流LEVIRBA
| Q4 25 | $266.8M | $255.2M | ||
| Q3 25 | $24.8M | $239.7M | ||
| Q2 25 | $185.5M | $326.5M | ||
| Q1 25 | $52.5M | $156.8M | ||
| Q4 24 | $297.3M | $184.5M | ||
| Q3 24 | $52.3M | $285.4M | ||
| Q2 24 | $262.8M | $337.3M | ||
| Q1 24 | $286.0M | $124.8M |
自由现金流LEVIRBA
| Q4 25 | $215.7M | $186.5M | ||
| Q3 25 | $-39.4M | $188.5M | ||
| Q2 25 | $146.0M | $241.7M | ||
| Q1 25 | $-14.1M | $102.5M | ||
| Q4 24 | $231.6M | $127.9M | ||
| Q3 24 | $2.3M | $248.5M | ||
| Q2 24 | $222.6M | $308.6M | ||
| Q1 24 | $214.4M | $79.6M |
自由现金流率LEVIRBA
| Q4 25 | 12.2% | 15.5% | ||
| Q3 25 | -2.6% | 17.3% | ||
| Q2 25 | 10.1% | 20.4% | ||
| Q1 25 | -0.9% | 9.2% | ||
| Q4 24 | 12.6% | 11.2% | ||
| Q3 24 | 0.2% | 25.3% | ||
| Q2 24 | 15.4% | 28.2% | ||
| Q1 24 | 13.8% | 7.5% |
资本支出强度LEVIRBA
| Q4 25 | 2.9% | 5.7% | ||
| Q3 25 | 4.2% | 4.7% | ||
| Q2 25 | 2.7% | 7.2% | ||
| Q1 25 | 4.4% | 4.9% | ||
| Q4 24 | 3.6% | 5.0% | ||
| Q3 24 | 3.3% | 3.8% | ||
| Q2 24 | 2.8% | 2.6% | ||
| Q1 24 | 4.6% | 4.2% |
现金转化率LEVIRBA
| Q4 25 | 1.69× | 2.33× | ||
| Q3 25 | 0.11× | 2.51× | ||
| Q2 25 | 2.77× | 2.97× | ||
| Q1 25 | 0.39× | 1.38× | ||
| Q4 24 | 1.63× | 1.56× | ||
| Q3 24 | 2.53× | 3.75× | ||
| Q2 24 | 14.60× | 3.04× | ||
| Q1 24 | — | 1.16× |
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
LEVI
| Other | $760.3M | 43% |
| Sales Channel Through Intermediary | $583.2M | 33% |
| Sales Channel Directly To Consumer | $376.0M | 21% |
| Beyond Yoga | $46.3M | 3% |
RBA
| Buyer Revenue | $577.2M | 48% |
| Seller Revenue | $255.2M | 21% |
| CA | $199.0M | 17% |
| Other | $124.7M | 10% |
| AU | $47.3M | 4% |
