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玛斯特锁（MBC）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
玛斯特锁的季度营收约是BOSTON BEER CO INC的1.3倍（$618.0M vs $461.6M），BOSTON BEER CO INC同比增速更快（-4.1% vs -6.4%），过去两年玛斯特锁的营收复合增速更高（-4.4% vs -10.7%）
玛斯特锁是美国知名安防产品供应商，1921年由锁匠发明家哈里·索雷夫创立，总部位于威斯康星州奥克里克，主营挂锁、密码锁、保险箱及相关安防产品，现为富俊创新集团旗下子公司，在全球安防锁具领域拥有较高的市场认可度。
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。
MBC vs SAM — 直观对比
营收规模更大
MBC
是对方的1.3倍
$461.6M
营收增速更快
SAM
高出2.3%
-6.4%
两年增速更快
MBC
近两年复合增速
-10.7%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $618.0M | $461.6M |
| 净利润 | — | — |
| 毛利率 | 25.3% | 46.4% |
| 营业利润率 | — | 12.4% |
| 净利率 | — | — |
| 营收同比 | -6.4% | -4.1% |
| 净利润同比 | — | — |
| 每股收益（稀释后） | $-0.12 | $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MBCSAM
| Q1 26 | $618.0M | $461.6M | ||
| Q4 25 | $644.6M | $385.7M | ||
| Q3 25 | $698.9M | $537.5M | ||
| Q2 25 | $730.9M | $587.9M | ||
| Q1 25 | $660.3M | $453.9M | ||
| Q4 24 | $667.7M | $402.3M | ||
| Q3 24 | $718.1M | $605.5M | ||
| Q2 24 | $676.5M | $579.1M |
净利润MBCSAM
| Q1 26 | — | — | ||
| Q4 25 | $-42.0M | $-22.5M | ||
| Q3 25 | $18.1M | $46.2M | ||
| Q2 25 | $37.3M | $60.4M | ||
| Q1 25 | $13.3M | $24.4M | ||
| Q4 24 | $14.0M | $-38.8M | ||
| Q3 24 | $29.1M | $33.5M | ||
| Q2 24 | $45.3M | $52.3M |
毛利率MBCSAM
| Q1 26 | 25.3% | 46.4% | ||
| Q4 25 | 26.0% | 43.5% | ||
| Q3 25 | 31.2% | 50.8% | ||
| Q2 25 | 32.8% | 49.8% | ||
| Q1 25 | 30.6% | 48.3% | ||
| Q4 24 | 30.4% | 39.9% | ||
| Q3 24 | 33.1% | 46.3% | ||
| Q2 24 | 34.1% | 46.0% |
营业利润率MBCSAM
| Q1 26 | — | 12.4% | ||
| Q4 25 | -4.2% | -8.6% | ||
| Q3 25 | 6.0% | 11.5% | ||
| Q2 25 | 9.2% | 14.0% | ||
| Q1 25 | 5.6% | 7.4% | ||
| Q4 24 | 5.6% | -13.9% | ||
| Q3 24 | 8.0% | 7.6% | ||
| Q2 24 | 11.5% | 12.2% |
净利率MBCSAM
| Q1 26 | — | — | ||
| Q4 25 | -6.5% | -5.8% | ||
| Q3 25 | 2.6% | 8.6% | ||
| Q2 25 | 5.1% | 10.3% | ||
| Q1 25 | 2.0% | 5.4% | ||
| Q4 24 | 2.1% | -9.6% | ||
| Q3 24 | 4.1% | 5.5% | ||
| Q2 24 | 6.7% | 9.0% |
每股收益（稀释后）MBCSAM
| Q1 26 | $-0.12 | $2.16 | ||
| Q4 25 | $-0.32 | $-1.97 | ||
| Q3 25 | $0.14 | $4.25 | ||
| Q2 25 | $0.29 | $5.45 | ||
| Q1 25 | $0.10 | $2.16 | ||
| Q4 24 | $0.10 | $-3.23 | ||
| Q3 24 | $0.22 | $2.86 | ||
| Q2 24 | $0.35 | $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 | $138.4M | $164.1M |
| 总债务越低越好 | $1.1B | — |
| 股东权益账面价值 | $1.3B | $682.6M |
| 总资产 | $3.1B | $1.2B |
| 负债/权益比越低杠杆越低 | 0.82× | — |
8季度趋势，按日历期对齐
现金及短期投资MBCSAM
| Q1 26 | $138.4M | $164.1M | ||
| Q4 25 | $183.3M | $223.4M | ||
| Q3 25 | $114.8M | $250.5M | ||
| Q2 25 | $120.1M | $212.4M | ||
| Q1 25 | $113.5M | $152.5M | ||
| Q4 24 | $120.6M | $211.8M | ||
| Q3 24 | $108.4M | $255.6M | ||
| Q2 24 | $189.4M | $219.3M |
总债务MBCSAM
| Q1 26 | $1.1B | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.0B | — | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | — | — |
股东权益MBCSAM
| Q1 26 | $1.3B | $682.6M | ||
| Q4 25 | $1.3B | $846.3M | ||
| Q3 25 | $1.4B | $911.0M | ||
| Q2 25 | $1.4B | $912.3M | ||
| Q1 25 | $1.3B | $897.0M | ||
| Q4 24 | $1.3B | $916.2M | ||
| Q3 24 | $1.3B | $1.0B | ||
| Q2 24 | $1.3B | $1.0B |
总资产MBCSAM
| Q1 26 | $3.1B | $1.2B | ||
| Q4 25 | $3.1B | $1.2B | ||
| Q3 25 | $3.0B | $1.2B | ||
| Q2 25 | $3.0B | $1.3B | ||
| Q1 25 | $3.0B | $1.2B | ||
| Q4 24 | $2.9B | $1.3B | ||
| Q3 24 | $3.0B | $1.4B | ||
| Q2 24 | $2.4B | $1.4B |
负债/权益比MBCSAM
| Q1 26 | 0.82× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.79× | — | ||
| Q3 24 | 0.83× | — | ||
| Q2 24 | — | — |
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 | $-133.0M | — |
| 自由现金流经营现金流 - 资本支出 | $-146.2M | — |
| 自由现金流率自由现金流/营收 | -23.7% | — |
| 资本支出强度资本支出/营收 | 2.1% | — |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $12.5M | — |
8季度趋势，按日历期对齐
经营现金流MBCSAM
| Q1 26 | $-133.0M | — | ||
| Q4 25 | $86.9M | $39.9M | ||
| Q3 25 | $55.4M | $101.8M | ||
| Q2 25 | $84.8M | $126.5M | ||
| Q1 25 | $-31.4M | $1.9M | ||
| Q4 24 | $115.1M | $41.9M | ||
| Q3 24 | $80.8M | $115.9M | ||
| Q2 24 | $77.4M | $96.0M |
自由现金流MBCSAM
| Q1 26 | $-146.2M | — | ||
| Q4 25 | $52.5M | $22.1M | ||
| Q3 25 | $39.5M | $89.2M | ||
| Q2 25 | $66.7M | $112.2M | ||
| Q1 25 | $-41.2M | $-8.0M | ||
| Q4 24 | $68.8M | $18.4M | ||
| Q3 24 | $64.5M | $99.2M | ||
| Q2 24 | $66.1M | $75.6M |
自由现金流率MBCSAM
| Q1 26 | -23.7% | — | ||
| Q4 25 | 8.1% | 5.7% | ||
| Q3 25 | 5.7% | 16.6% | ||
| Q2 25 | 9.1% | 19.1% | ||
| Q1 25 | -6.2% | -1.8% | ||
| Q4 24 | 10.3% | 4.6% | ||
| Q3 24 | 9.0% | 16.4% | ||
| Q2 24 | 9.8% | 13.1% |
资本支出强度MBCSAM
| Q1 26 | 2.1% | — | ||
| Q4 25 | 5.3% | 4.6% | ||
| Q3 25 | 2.3% | 2.3% | ||
| Q2 25 | 2.5% | 2.4% | ||
| Q1 25 | 1.5% | 2.2% | ||
| Q4 24 | 6.9% | 5.8% | ||
| Q3 24 | 2.3% | 2.8% | ||
| Q2 24 | 1.7% | 3.5% |
现金转化率MBCSAM
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 3.06× | 2.21× | ||
| Q2 25 | 2.27× | 2.09× | ||
| Q1 25 | -2.36× | 0.08× | ||
| Q4 24 | 8.22× | — | ||
| Q3 24 | 2.78× | 3.46× | ||
| Q2 24 | 1.71× | 1.83× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
