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POTLATCHDELTIC CORP（PCH）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
RBC Bearings INC的季度营收约是POTLATCHDELTIC CORP的1.5倍（$461.6M vs $314.2M），RBC Bearings INC净利率更高（14.6% vs 8.2%，领先6.4%），POTLATCHDELTIC CORP同比增速更快（23.1% vs 17.0%），RBC Bearings INC自由现金流更多（$99.1M vs $50.1M），过去两年POTLATCHDELTIC CORP的营收复合增速更高（11.1% vs 5.6%）
PotlatchDeltic是一家总部位于美国华盛顿州斯波坎的多元化林产品企业，业务覆盖林木培育、木材加工及相关林制品的生产与供应，在林业资源管理和产品研发领域拥有成熟的运营体系，为建筑、家居等多个下游行业提供优质原材料与产品解决方案。
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。
PCH vs RBC — 直观对比
营收规模更大
RBC
是对方的1.5倍
$314.2M
营收增速更快
PCH
高出6.1%
17.0%
净利率更高
RBC
高出6.4%
8.2%
自由现金流更多
RBC
多$49.0M
$50.1M
两年增速更快
PCH
近两年复合增速
5.6%
损益表 — Q3 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $314.2M | $461.6M |
| 净利润 | $25.9M | $67.4M |
| 毛利率 | 18.2% | 44.3% |
| 营业利润率 | 11.2% | 22.3% |
| 净利率 | 8.2% | 14.6% |
| 营收同比 | 23.1% | 17.0% |
| 净利润同比 | 682.5% | 16.4% |
| 每股收益（稀释后） | $0.33 | $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PCHRBC
| Q4 25 | — | $461.6M | ||
| Q3 25 | $314.2M | $455.3M | ||
| Q2 25 | $275.0M | $436.0M | ||
| Q1 25 | $268.3M | $437.7M | ||
| Q4 24 | $258.1M | $394.4M | ||
| Q3 24 | $255.1M | $397.9M | ||
| Q2 24 | $320.7M | $406.3M | ||
| Q1 24 | $228.1M | $413.7M |
净利润PCHRBC
| Q4 25 | — | $67.4M | ||
| Q3 25 | $25.9M | $60.0M | ||
| Q2 25 | $7.4M | $68.5M | ||
| Q1 25 | $25.8M | $72.7M | ||
| Q4 24 | $5.2M | $57.9M | ||
| Q3 24 | $3.3M | $54.2M | ||
| Q2 24 | $13.7M | $61.4M | ||
| Q1 24 | $-305.0K | — |
毛利率PCHRBC
| Q4 25 | — | 44.3% | ||
| Q3 25 | 18.2% | 44.1% | ||
| Q2 25 | 13.0% | 44.8% | ||
| Q1 25 | 17.8% | 44.2% | ||
| Q4 24 | 13.4% | 44.3% | ||
| Q3 24 | 10.8% | 43.7% | ||
| Q2 24 | 11.9% | 45.3% | ||
| Q1 24 | 7.0% | 43.1% |
营业利润率PCHRBC
| Q4 25 | — | 22.3% | ||
| Q3 25 | 11.2% | 21.5% | ||
| Q2 25 | 5.0% | 23.2% | ||
| Q1 25 | 10.3% | 23.0% | ||
| Q4 24 | 5.2% | 21.7% | ||
| Q3 24 | 2.8% | 21.6% | ||
| Q2 24 | 5.4% | 24.0% | ||
| Q1 24 | -2.1% | 22.8% |
净利率PCHRBC
| Q4 25 | — | 14.6% | ||
| Q3 25 | 8.2% | 13.2% | ||
| Q2 25 | 2.7% | 15.7% | ||
| Q1 25 | 9.6% | 16.6% | ||
| Q4 24 | 2.0% | 14.7% | ||
| Q3 24 | 1.3% | 13.6% | ||
| Q2 24 | 4.3% | 15.1% | ||
| Q1 24 | -0.1% | — |
每股收益（稀释后）PCHRBC
| Q4 25 | — | $2.13 | ||
| Q3 25 | $0.33 | $1.90 | ||
| Q2 25 | $0.09 | $2.17 | ||
| Q1 25 | $0.33 | $2.33 | ||
| Q4 24 | $0.07 | $1.82 | ||
| Q3 24 | $0.04 | $1.65 | ||
| Q2 24 | $0.17 | $1.90 | ||
| Q1 24 | $0.00 | $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 | $88.8M | $107.6M |
| 总债务越低越好 | — | $990.2M |
| 股东权益账面价值 | $1.9B | $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PCHRBC
| Q4 25 | — | $107.6M | ||
| Q3 25 | $88.8M | $91.2M | ||
| Q2 25 | $95.3M | $132.9M | ||
| Q1 25 | $147.5M | $36.8M | ||
| Q4 24 | $151.6M | — | ||
| Q3 24 | $161.1M | — | ||
| Q2 24 | $199.7M | $76.8M | ||
| Q1 24 | $180.2M | $63.5M |
总债务PCHRBC
| Q4 25 | — | $990.2M | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $915.6M | ||
| Q1 25 | — | $920.1M | ||
| Q4 24 | $1.0B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $1.2B |
股东权益PCHRBC
| Q4 25 | — | $3.3B | ||
| Q3 25 | $1.9B | $3.2B | ||
| Q2 25 | $1.9B | $3.1B | ||
| Q1 25 | $2.0B | $3.0B | ||
| Q4 24 | $2.0B | $2.9B | ||
| Q3 24 | $2.1B | $2.9B | ||
| Q2 24 | $2.1B | $2.8B | ||
| Q1 24 | $2.2B | $2.8B |
总资产PCHRBC
| Q4 25 | — | $5.1B | ||
| Q3 25 | $3.2B | $5.1B | ||
| Q2 25 | $3.2B | $4.8B | ||
| Q1 25 | $3.3B | $4.7B | ||
| Q4 24 | $3.3B | $4.7B | ||
| Q3 24 | $3.3B | $4.7B | ||
| Q2 24 | $3.4B | $4.7B | ||
| Q1 24 | $3.4B | $4.7B |
负债/权益比PCHRBC
| Q4 25 | — | 0.30× | ||
| Q3 25 | — | 0.34× | ||
| Q2 25 | — | 0.29× | ||
| Q1 25 | — | 0.30× | ||
| Q4 24 | 0.51× | — | ||
| 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 | $65.7M | $122.1M |
| 自由现金流经营现金流 - 资本支出 | $50.1M | $99.1M |
| 自由现金流率自由现金流/营收 | 15.9% | 21.5% |
| 资本支出强度资本支出/营收 | 4.9% | 5.0% |
| 现金转化率经营现金流/净利润 | 2.54× | 1.81× |
| 过去12个月自由现金流最近4个季度 | $132.4M | — |
8季度趋势，按日历期对齐
经营现金流PCHRBC
| Q4 25 | — | $122.1M | ||
| Q3 25 | $65.7M | $88.4M | ||
| Q2 25 | $41.0M | $120.0M | ||
| Q1 25 | $49.1M | — | ||
| Q4 24 | $45.4M | $84.0M | ||
| Q3 24 | $26.5M | — | ||
| Q2 24 | $100.6M | $97.4M | ||
| Q1 24 | $16.0M | — |
自由现金流PCHRBC
| Q4 25 | — | $99.1M | ||
| Q3 25 | $50.1M | $71.7M | ||
| Q2 25 | $30.6M | $104.3M | ||
| Q1 25 | $26.3M | — | ||
| Q4 24 | $25.4M | $73.6M | ||
| Q3 24 | $-8.2M | — | ||
| Q2 24 | $72.4M | $88.4M | ||
| Q1 24 | $2.0M | — |
自由现金流率PCHRBC
| Q4 25 | — | 21.5% | ||
| Q3 25 | 15.9% | 15.7% | ||
| Q2 25 | 11.1% | 23.9% | ||
| Q1 25 | 9.8% | — | ||
| Q4 24 | 9.9% | 18.7% | ||
| Q3 24 | -3.2% | — | ||
| Q2 24 | 22.6% | 21.8% | ||
| Q1 24 | 0.9% | — |
资本支出强度PCHRBC
| Q4 25 | — | 5.0% | ||
| Q3 25 | 4.9% | 3.7% | ||
| Q2 25 | 3.8% | 3.6% | ||
| Q1 25 | 8.5% | 3.2% | ||
| Q4 24 | 7.7% | 2.6% | ||
| Q3 24 | 13.6% | 4.1% | ||
| Q2 24 | 8.8% | 2.2% | ||
| Q1 24 | 6.1% | — |
现金转化率PCHRBC
| Q4 25 | — | 1.81× | ||
| Q3 25 | 2.54× | 1.47× | ||
| Q2 25 | 5.58× | 1.75× | ||
| Q1 25 | 1.90× | — | ||
| Q4 24 | 8.74× | 1.45× | ||
| Q3 24 | 7.99× | — | ||
| Q2 24 | 7.35× | 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
PCH
| Lumber | $131.8M | 42% |
| Timberlands | $52.5M | 17% |
| Rural Real Estate | $51.3M | 16% |
| Residuals And Panels | $34.0M | 11% |
| Pulpwood | $16.7M | 5% |
| Development Real Estate | $14.6M | 5% |
| Other | $8.1M | 3% |
| Other Products | $5.2M | 2% |
RBC
| Domestic | $413.3M | 90% |
| Foreign | $48.3M | 10% |
