vs
必能宝（PBI）与RBC Bearings INC（RBC）财务数据对比。点击上方公司名可切换其他公司
必能宝的季度营收约是RBC Bearings INC的1.0倍（$477.6M vs $461.6M），RBC Bearings INC净利率更高（14.6% vs 5.7%，领先8.9%），RBC Bearings INC同比增速更快（17.0% vs -7.5%），必能宝自由现金流更多（$201.4M vs $99.1M），过去两年RBC Bearings INC的营收复合增速更高（5.6% vs -4.3%）
必能宝（Pitney Bowes）是全球知名科技与物流服务商，提供电商配送、邮寄处理、订单履约及客户信息管理解决方案，服务零售、金融、医疗、政府等领域的各类大中小企业客户，助力企业优化物流配送与客户运营效率。
该文本实际介绍的并非RBC Bearings，而是美国多佛公司。多佛是一家工业产品综合制造商，1955年成立，总部位于伊利诺伊州当纳斯格罗夫。2021年其业务分为五大板块：工程产品、清洁能源与加注、成像与识别、泵与工艺解决方案、气候与可持续技术，是标普500成分股，在纽约证券交易所上市。
PBI vs RBC — 直观对比
营收规模更大
PBI
是对方的1.0倍
$461.6M
营收增速更快
RBC
高出24.5%
-7.5%
净利率更高
RBC
高出8.9%
5.7%
自由现金流更多
PBI
多$102.3M
$99.1M
两年增速更快
RBC
近两年复合增速
-4.3%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $477.6M | $461.6M |
| 净利润 | $27.3M | $67.4M |
| 毛利率 | — | 44.3% |
| 营业利润率 | 8.0% | 22.3% |
| 净利率 | 5.7% | 14.6% |
| 营收同比 | -7.5% | 17.0% |
| 净利润同比 | 173.1% | 16.4% |
| 每股收益（稀释后） | $0.18 | $2.13 |
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PBIRBC
| Q4 25 | $477.6M | $461.6M | ||
| Q3 25 | $459.7M | $455.3M | ||
| Q2 25 | $461.9M | $436.0M | ||
| Q1 25 | $493.4M | $437.7M | ||
| Q4 24 | $516.1M | $394.4M | ||
| Q3 24 | $499.5M | $397.9M | ||
| Q2 24 | $489.7M | $406.3M | ||
| Q1 24 | $521.3M | $413.7M |
净利润PBIRBC
| Q4 25 | $27.3M | $67.4M | ||
| Q3 25 | $52.0M | $60.0M | ||
| Q2 25 | $30.0M | $68.5M | ||
| Q1 25 | $35.4M | $72.7M | ||
| Q4 24 | $-37.4M | $57.9M | ||
| Q3 24 | $-138.5M | $54.2M | ||
| Q2 24 | $-24.9M | $61.4M | ||
| Q1 24 | $-2.9M | — |
毛利率PBIRBC
| Q4 25 | — | 44.3% | ||
| Q3 25 | — | 44.1% | ||
| Q2 25 | — | 44.8% | ||
| Q1 25 | — | 44.2% | ||
| Q4 24 | 53.8% | 44.3% | ||
| Q3 24 | 52.4% | 43.7% | ||
| Q2 24 | 51.1% | 45.3% | ||
| Q1 24 | 52.3% | 43.1% |
营业利润率PBIRBC
| Q4 25 | 8.0% | 22.3% | ||
| Q3 25 | 14.8% | 21.5% | ||
| Q2 25 | 8.5% | 23.2% | ||
| Q1 25 | 9.5% | 23.0% | ||
| Q4 24 | -9.3% | 21.7% | ||
| Q3 24 | -8.8% | 21.6% | ||
| Q2 24 | -1.6% | 24.0% | ||
| Q1 24 | 9.1% | 22.8% |
净利率PBIRBC
| Q4 25 | 5.7% | 14.6% | ||
| Q3 25 | 11.3% | 13.2% | ||
| Q2 25 | 6.5% | 15.7% | ||
| Q1 25 | 7.2% | 16.6% | ||
| Q4 24 | -7.2% | 14.7% | ||
| Q3 24 | -27.7% | 13.6% | ||
| Q2 24 | -5.1% | 15.1% | ||
| Q1 24 | -0.6% | — |
每股收益（稀释后）PBIRBC
| Q4 25 | $0.18 | $2.13 | ||
| Q3 25 | $0.30 | $1.90 | ||
| Q2 25 | $0.17 | $2.17 | ||
| Q1 25 | $0.19 | $2.33 | ||
| Q4 24 | $-0.21 | $1.82 | ||
| Q3 24 | $-0.75 | $1.65 | ||
| Q2 24 | $-0.14 | $1.90 | ||
| Q1 24 | $-0.02 | $1.92 |
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 | $297.1M | $107.6M |
| 总债务越低越好 | $2.0B | $990.2M |
| 股东权益账面价值 | $-802.4M | $3.3B |
| 总资产 | $3.2B | $5.1B |
| 负债/权益比越低杠杆越低 | — | 0.30× |
8季度趋势，按日历期对齐
现金及短期投资PBIRBC
| Q4 25 | $297.1M | $107.6M | ||
| Q3 25 | $336.0M | $91.2M | ||
| Q2 25 | $300.8M | $132.9M | ||
| Q1 25 | $340.0M | $36.8M | ||
| Q4 24 | $486.1M | — | ||
| Q3 24 | $575.5M | — | ||
| Q2 24 | $612.0M | $76.8M | ||
| Q1 24 | $538.0M | $63.5M |
总债务PBIRBC
| Q4 25 | $2.0B | $990.2M | ||
| Q3 25 | $2.1B | $1.1B | ||
| Q2 25 | $1.9B | $915.6M | ||
| Q1 25 | $1.9B | $920.1M | ||
| Q4 24 | $1.9B | — | ||
| Q3 24 | $2.1B | — | ||
| Q2 24 | $2.1B | — | ||
| Q1 24 | $2.1B | $1.2B |
股东权益PBIRBC
| Q4 25 | $-802.4M | $3.3B | ||
| Q3 25 | $-661.5M | $3.2B | ||
| Q2 25 | $-536.8M | $3.1B | ||
| Q1 25 | $-535.9M | $3.0B | ||
| Q4 24 | $-578.4M | $2.9B | ||
| Q3 24 | $-518.9M | $2.9B | ||
| Q2 24 | $-427.9M | $2.8B | ||
| Q1 24 | $-392.4M | $2.8B |
总资产PBIRBC
| Q4 25 | $3.2B | $5.1B | ||
| Q3 25 | $3.3B | $5.1B | ||
| Q2 25 | $3.2B | $4.8B | ||
| Q1 25 | $3.3B | $4.7B | ||
| Q4 24 | $3.4B | $4.7B | ||
| Q3 24 | $3.6B | $4.7B | ||
| Q2 24 | $4.1B | $4.7B | ||
| Q1 24 | $4.1B | $4.7B |
负债/权益比PBIRBC
| Q4 25 | — | 0.30× | ||
| Q3 25 | — | 0.34× | ||
| Q2 25 | — | 0.29× | ||
| Q1 25 | — | 0.30× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.43× |
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 | $221.7M | $122.1M |
| 自由现金流经营现金流 - 资本支出 | $201.4M | $99.1M |
| 自由现金流率自由现金流/营收 | 42.2% | 21.5% |
| 资本支出强度资本支出/营收 | 4.2% | 5.0% |
| 现金转化率经营现金流/净利润 | 8.11× | 1.81× |
| 过去12个月自由现金流最近4个季度 | $317.0M | — |
8季度趋势，按日历期对齐
经营现金流PBIRBC
| Q4 25 | $221.7M | $122.1M | ||
| Q3 25 | $66.8M | $88.4M | ||
| Q2 25 | $111.4M | $120.0M | ||
| Q1 25 | $-16.7M | — | ||
| Q4 24 | $134.5M | $84.0M | ||
| Q3 24 | $14.7M | — | ||
| Q2 24 | $92.6M | $97.4M | ||
| Q1 24 | $-12.6M | — |
自由现金流PBIRBC
| Q4 25 | $201.4M | $99.1M | ||
| Q3 25 | $51.1M | $71.7M | ||
| Q2 25 | $98.0M | $104.3M | ||
| Q1 25 | $-33.6M | — | ||
| Q4 24 | $112.3M | $73.6M | ||
| Q3 24 | $-4.7M | — | ||
| Q2 24 | $76.1M | $88.4M | ||
| Q1 24 | $-26.9M | — |
自由现金流率PBIRBC
| Q4 25 | 42.2% | 21.5% | ||
| Q3 25 | 11.1% | 15.7% | ||
| Q2 25 | 21.2% | 23.9% | ||
| Q1 25 | -6.8% | — | ||
| Q4 24 | 21.8% | 18.7% | ||
| Q3 24 | -0.9% | — | ||
| Q2 24 | 15.5% | 21.8% | ||
| Q1 24 | -5.2% | — |
资本支出强度PBIRBC
| Q4 25 | 4.2% | 5.0% | ||
| Q3 25 | 3.4% | 3.7% | ||
| Q2 25 | 2.9% | 3.6% | ||
| Q1 25 | 3.4% | 3.2% | ||
| Q4 24 | 4.3% | 2.6% | ||
| Q3 24 | 3.9% | 4.1% | ||
| Q2 24 | 3.4% | 2.2% | ||
| Q1 24 | 2.7% | — |
现金转化率PBIRBC
| Q4 25 | 8.11× | 1.81× | ||
| Q3 25 | 1.29× | 1.47× | ||
| Q2 25 | 3.72× | 1.75× | ||
| Q1 25 | -0.47× | — | ||
| Q4 24 | — | 1.45× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 1.59× | ||
| Q1 24 | — | — |
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
PBI
| Sales And Services | $218.4M | 46% |
| Presort Services | $159.7M | 33% |
| Financing And Other | $79.0M | 17% |
| Other | $20.5M | 4% |
RBC
| Domestic | $413.3M | 90% |
| Foreign | $48.3M | 10% |
