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百事公司（PFGC）与Valero Energy（VLO）财务数据对比。点击上方公司名可切换其他公司
Valero Energy的季度营收约是百事公司的1.8倍（$30.4B vs $16.4B），Valero Energy净利率更高（3.7% vs 0.4%，领先3.4%），百事公司同比增速更快（5.2% vs -1.2%），过去两年百事公司的营收复合增速更高（8.9% vs -2.2%）
百事公司是总部位于美国纽约州珀彻斯的跨国食品饮料企业，1965年由百事可乐公司与菲多利合并成立。业务覆盖食品饮料全领域，负责旗下产品的生产、分销与市场营销，产品矩阵从最初的百事可乐扩展到了丰富多元的知名品牌组合。
Valero Energy是总部位于美国得克萨斯州圣安东尼奥的燃料生产商，核心业务为交通燃料及相关产品的生产与销售，在美、加、英三国共运营15座炼油厂，总日加工产能约320万桶，同时拥有两座可再生柴油工厂。
PFGC vs VLO — 直观对比
营收规模更大
VLO
是对方的1.8倍
$16.4B
营收增速更快
PFGC
高出6.4%
-1.2%
净利率更高
VLO
高出3.4%
0.4%
两年增速更快
PFGC
近两年复合增速
-2.2%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $16.4B | $30.4B |
| 净利润 | $61.7M | $1.1B |
| 毛利率 | 12.0% | 6.3% |
| 营业利润率 | 1.2% | 5.2% |
| 净利率 | 0.4% | 3.7% |
| 营收同比 | 5.2% | -1.2% |
| 净利润同比 | 45.5% | 303.6% |
| 每股收益（稀释后） | $0.39 | $3.66 |
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PFGCVLO
| Q4 25 | $16.4B | $30.4B | ||
| Q3 25 | $17.1B | $32.2B | ||
| Q2 25 | $16.9B | $29.9B | ||
| Q1 25 | $15.3B | $30.3B | ||
| Q4 24 | $15.6B | $30.8B | ||
| Q3 24 | $15.4B | $32.9B | ||
| Q2 24 | $15.2B | $34.5B | ||
| Q1 24 | $13.9B | $31.8B |
净利润PFGCVLO
| Q4 25 | $61.7M | $1.1B | ||
| Q3 25 | $93.6M | $1.1B | ||
| Q2 25 | $131.5M | $714.0M | ||
| Q1 25 | $58.3M | $-595.0M | ||
| Q4 24 | $42.4M | $281.0M | ||
| Q3 24 | $108.0M | $364.0M | ||
| Q2 24 | $166.5M | $880.0M | ||
| Q1 24 | $70.4M | $1.2B |
毛利率PFGCVLO
| Q4 25 | 12.0% | 6.3% | ||
| Q3 25 | 11.8% | 5.5% | ||
| Q2 25 | 11.8% | 4.2% | ||
| Q1 25 | 11.9% | 1.7% | ||
| Q4 24 | 11.7% | 2.0% | ||
| Q3 24 | 11.4% | 2.3% | ||
| Q2 24 | 11.5% | 4.2% | ||
| Q1 24 | 11.3% | 6.2% |
营业利润率PFGCVLO
| Q4 25 | 1.2% | 5.2% | ||
| Q3 25 | 1.3% | 4.7% | ||
| Q2 25 | 1.6% | 3.3% | ||
| Q1 25 | 1.1% | -3.0% | ||
| Q4 24 | 1.0% | 1.1% | ||
| Q3 24 | 1.4% | 1.5% | ||
| Q2 24 | 1.9% | 3.5% | ||
| Q1 24 | 1.1% | 5.3% |
净利率PFGCVLO
| Q4 25 | 0.4% | 3.7% | ||
| Q3 25 | 0.5% | 3.4% | ||
| Q2 25 | 0.8% | 2.4% | ||
| Q1 25 | 0.4% | -2.0% | ||
| Q4 24 | 0.3% | 0.9% | ||
| Q3 24 | 0.7% | 1.1% | ||
| Q2 24 | 1.1% | 2.6% | ||
| Q1 24 | 0.5% | 3.9% |
每股收益（稀释后）PFGCVLO
| Q4 25 | $0.39 | $3.66 | ||
| Q3 25 | $0.60 | $3.53 | ||
| Q2 25 | $0.85 | $2.28 | ||
| Q1 25 | $0.37 | $-1.90 | ||
| Q4 24 | $0.27 | $0.98 | ||
| Q3 24 | $0.69 | $1.14 | ||
| Q2 24 | $1.07 | $2.71 | ||
| Q1 24 | $0.45 | $3.75 |
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 | — | $4.7B |
| 总债务越低越好 | $5.3B | $9.7B |
| 股东权益账面价值 | $4.6B | $23.7B |
| 总资产 | $18.2B | $58.0B |
| 负债/权益比越低杠杆越低 | 1.13× | 0.41× |
8季度趋势，按日历期对齐
现金及短期投资PFGCVLO
| Q4 25 | — | $4.7B | ||
| Q3 25 | — | $4.8B | ||
| Q2 25 | — | $4.5B | ||
| Q1 25 | — | $4.6B | ||
| Q4 24 | — | $4.7B | ||
| Q3 24 | — | $5.2B | ||
| Q2 24 | — | $5.2B | ||
| Q1 24 | — | $4.9B |
总债务PFGCVLO
| Q4 25 | $5.3B | $9.7B | ||
| Q3 25 | $5.6B | $9.7B | ||
| Q2 25 | $5.4B | $10.3B | ||
| Q1 25 | $5.4B | $10.3B | ||
| Q4 24 | $5.7B | $9.7B | ||
| Q3 24 | $3.9B | $9.8B | ||
| Q2 24 | $3.2B | $9.7B | ||
| Q1 24 | $3.2B | $10.0B |
股东权益PFGCVLO
| Q4 25 | $4.6B | $23.7B | ||
| Q3 25 | $4.6B | $23.8B | ||
| Q2 25 | $4.5B | $24.1B | ||
| Q1 25 | $4.3B | $23.5B | ||
| Q4 24 | $4.3B | $24.5B | ||
| Q3 24 | $4.2B | $25.3B | ||
| Q2 24 | $4.1B | $25.4B | ||
| Q1 24 | $4.0B | $26.1B |
总资产PFGCVLO
| Q4 25 | $18.2B | $58.0B | ||
| Q3 25 | $18.4B | $58.6B | ||
| Q2 25 | $17.9B | $59.4B | ||
| Q1 25 | $17.1B | $59.2B | ||
| Q4 24 | $17.1B | $60.1B | ||
| Q3 24 | $14.4B | $60.4B | ||
| Q2 24 | $13.4B | $63.6B | ||
| Q1 24 | $12.9B | $62.6B |
负债/权益比PFGCVLO
| Q4 25 | 1.13× | 0.41× | ||
| Q3 25 | 1.23× | 0.41× | ||
| Q2 25 | 1.20× | 0.43× | ||
| Q1 25 | 1.25× | 0.44× | ||
| Q4 24 | 1.34× | 0.40× | ||
| Q3 24 | 0.93× | 0.39× | ||
| Q2 24 | 0.78× | 0.38× | ||
| Q1 24 | 0.81× | 0.39× |
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 | $601.2M | $2.1B |
| 自由现金流经营现金流 - 资本支出 | $487.8M | — |
| 自由现金流率自由现金流/营收 | 3.0% | — |
| 资本支出强度资本支出/营收 | 0.7% | — |
| 现金转化率经营现金流/净利润 | 9.74× | 1.81× |
| 过去12个月自由现金流最近4个季度 | $792.7M | — |
8季度趋势，按日历期对齐
经营现金流PFGCVLO
| Q4 25 | $601.2M | $2.1B | ||
| Q3 25 | $-145.2M | $1.9B | ||
| Q2 25 | $383.0M | $936.0M | ||
| Q1 25 | $448.1M | $952.0M | ||
| Q4 24 | $325.5M | $1.1B | ||
| Q3 24 | $53.5M | $1.3B | ||
| Q2 24 | $206.3M | $2.5B | ||
| Q1 24 | $402.7M | $1.8B |
自由现金流PFGCVLO
| Q4 25 | $487.8M | — | ||
| Q3 25 | $-224.1M | $1.5B | ||
| Q2 25 | $209.7M | $529.0M | ||
| Q1 25 | $319.3M | $293.0M | ||
| Q4 24 | $218.1M | $523.0M | ||
| Q3 24 | $-43.0M | $866.0M | ||
| Q2 24 | $55.1M | $2.1B | ||
| Q1 24 | $305.4M | $1.2B |
自由现金流率PFGCVLO
| Q4 25 | 3.0% | — | ||
| Q3 25 | -1.3% | 4.6% | ||
| Q2 25 | 1.2% | 1.8% | ||
| Q1 25 | 2.1% | 1.0% | ||
| Q4 24 | 1.4% | 1.7% | ||
| Q3 24 | -0.3% | 2.6% | ||
| Q2 24 | 0.4% | 5.9% | ||
| Q1 24 | 2.2% | 3.7% |
资本支出强度PFGCVLO
| Q4 25 | 0.7% | — | ||
| Q3 25 | 0.5% | 1.3% | ||
| Q2 25 | 1.0% | 1.4% | ||
| Q1 25 | 0.8% | 2.2% | ||
| Q4 24 | 0.7% | 1.8% | ||
| Q3 24 | 0.6% | 1.3% | ||
| Q2 24 | 1.0% | 1.2% | ||
| Q1 24 | 0.7% | 2.1% |
现金转化率PFGCVLO
| Q4 25 | 9.74× | 1.81× | ||
| Q3 25 | -1.55× | 1.72× | ||
| Q2 25 | 2.91× | 1.31× | ||
| Q1 25 | 7.69× | — | ||
| Q4 24 | 7.68× | 3.81× | ||
| Q3 24 | 0.50× | 3.56× | ||
| Q2 24 | 1.24× | 2.81× | ||
| Q1 24 | 5.72× | 1.48× |
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
PFGC
| Foodservice | $8.8B | 54% |
| Convenience | $6.3B | 38% |
| Specialty | $1.3B | 8% |
VLO
| Distillates | $14.3B | 47% |
| Gasoline And Blendstocks | $12.5B | 41% |
| Manufactured Product Other | $1.8B | 6% |
| Ethanol Product | $784.0M | 3% |
| Renewable Diesel Product | $589.0M | 2% |
| Distillers Grains | $194.0M | 1% |
| Neat SAF | $118.0M | 0% |
| Renewable Naphtha Product | $24.0M | 0% |
