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BOSTON BEER CO INC（SAM）与SCANSOURCE, INC.（SCSC）财务数据对比。点击上方公司名可切换其他公司
SCANSOURCE, INC.的季度营收约是BOSTON BEER CO INC的1.7倍（$766.5M vs $461.6M），SCANSOURCE, INC.同比增速更快（2.5% vs -4.1%），过去两年SCANSOURCE, INC.的营收复合增速更高（0.9% vs -10.7%）
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。
ScanSource是全球领先的专业技术分销商，主营销售点系统、条码扫描设备、网络安全产品、云服务及通信解决方案，面向北美、拉美、欧洲的增值经销商、服务提供商及企业客户，覆盖零售、医疗、工业、公共部门等领域。
SAM vs SCSC — 直观对比
营收规模更大
SCSC
是对方的1.7倍
$461.6M
营收增速更快
SCSC
高出6.7%
-4.1%
两年增速更快
SCSC
近两年复合增速
-10.7%
损益表 — Q1 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $461.6M | $766.5M |
| 净利润 | — | $16.5M |
| 毛利率 | 46.4% | 13.4% |
| 营业利润率 | 12.4% | 2.3% |
| 净利率 | — | 2.2% |
| 营收同比 | -4.1% | 2.5% |
| 净利润同比 | — | -3.3% |
| 每股收益（稀释后） | $2.16 | $0.75 |
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SAMSCSC
| Q1 26 | $461.6M | — | ||
| Q4 25 | $385.7M | $766.5M | ||
| Q3 25 | $537.5M | $739.6M | ||
| Q2 25 | $587.9M | $812.9M | ||
| Q1 25 | $453.9M | $704.8M | ||
| Q4 24 | $402.3M | $747.5M | ||
| Q3 24 | $605.5M | $775.6M | ||
| Q2 24 | $579.1M | $746.1M |
净利润SAMSCSC
| Q1 26 | — | — | ||
| Q4 25 | $-22.5M | $16.5M | ||
| Q3 25 | $46.2M | $19.9M | ||
| Q2 25 | $60.4M | $20.1M | ||
| Q1 25 | $24.4M | $17.4M | ||
| Q4 24 | $-38.8M | $17.1M | ||
| Q3 24 | $33.5M | $17.0M | ||
| Q2 24 | $52.3M | $16.1M |
毛利率SAMSCSC
| Q1 26 | 46.4% | — | ||
| Q4 25 | 43.5% | 13.4% | ||
| Q3 25 | 50.8% | 14.5% | ||
| Q2 25 | 49.8% | 12.9% | ||
| Q1 25 | 48.3% | 14.2% | ||
| Q4 24 | 39.9% | 13.6% | ||
| Q3 24 | 46.3% | 13.1% | ||
| Q2 24 | 46.0% | 13.0% |
营业利润率SAMSCSC
| Q1 26 | 12.4% | — | ||
| Q4 25 | -8.6% | 2.3% | ||
| Q3 25 | 11.5% | 3.5% | ||
| Q2 25 | 14.0% | 3.3% | ||
| Q1 25 | 7.4% | 3.2% | ||
| Q4 24 | -13.9% | 2.5% | ||
| Q3 24 | 7.6% | 2.3% | ||
| Q2 24 | 12.2% | 2.9% |
净利率SAMSCSC
| Q1 26 | — | — | ||
| Q4 25 | -5.8% | 2.2% | ||
| Q3 25 | 8.6% | 2.7% | ||
| Q2 25 | 10.3% | 2.5% | ||
| Q1 25 | 5.4% | 2.5% | ||
| Q4 24 | -9.6% | 2.3% | ||
| Q3 24 | 5.5% | 2.2% | ||
| Q2 24 | 9.0% | 2.2% |
每股收益（稀释后）SAMSCSC
| Q1 26 | $2.16 | — | ||
| Q4 25 | $-1.97 | $0.75 | ||
| Q3 25 | $4.25 | $0.89 | ||
| Q2 25 | $5.45 | $0.87 | ||
| Q1 25 | $2.16 | $0.74 | ||
| Q4 24 | $-3.23 | $0.70 | ||
| Q3 24 | $2.86 | $0.69 | ||
| Q2 24 | $4.39 | $0.66 |
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 | $164.1M | $83.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $682.6M | $910.9M |
| 总资产 | $1.2B | $1.7B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资SAMSCSC
| Q1 26 | $164.1M | — | ||
| Q4 25 | $223.4M | $83.5M | ||
| Q3 25 | $250.5M | $124.9M | ||
| Q2 25 | $212.4M | $126.2M | ||
| Q1 25 | $152.5M | $146.3M | ||
| Q4 24 | $211.8M | $110.5M | ||
| Q3 24 | $255.6M | $145.0M | ||
| Q2 24 | $219.3M | $185.5M |
股东权益SAMSCSC
| Q1 26 | $682.6M | — | ||
| Q4 25 | $846.3M | $910.9M | ||
| Q3 25 | $911.0M | $914.0M | ||
| Q2 25 | $912.3M | $906.4M | ||
| Q1 25 | $897.0M | $901.7M | ||
| Q4 24 | $916.2M | $900.7M | ||
| Q3 24 | $1.0B | $920.9M | ||
| Q2 24 | $1.0B | $924.3M |
总资产SAMSCSC
| Q1 26 | $1.2B | — | ||
| Q4 25 | $1.2B | $1.7B | ||
| Q3 25 | $1.2B | $1.7B | ||
| Q2 25 | $1.3B | $1.8B | ||
| Q1 25 | $1.2B | $1.7B | ||
| Q4 24 | $1.3B | $1.7B | ||
| Q3 24 | $1.4B | $1.8B | ||
| Q2 24 | $1.4B | $1.8B |
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 | — | $30.8M |
| 自由现金流经营现金流 - 资本支出 | — | $28.9M |
| 自由现金流率自由现金流/营收 | — | 3.8% |
| 资本支出强度资本支出/营收 | — | 0.3% |
| 现金转化率经营现金流/净利润 | — | 1.87× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流SAMSCSC
| Q1 26 | — | — | ||
| Q4 25 | $39.9M | $30.8M | ||
| Q3 25 | $101.8M | $23.2M | ||
| Q2 25 | $126.5M | — | ||
| Q1 25 | $1.9M | $66.1M | ||
| Q4 24 | $41.9M | $-6.2M | ||
| Q3 24 | $115.9M | $44.8M | ||
| Q2 24 | $96.0M | — |
自由现金流SAMSCSC
| Q1 26 | — | — | ||
| Q4 25 | $22.1M | $28.9M | ||
| Q3 25 | $89.2M | $20.8M | ||
| Q2 25 | $112.2M | — | ||
| Q1 25 | $-8.0M | $64.6M | ||
| Q4 24 | $18.4M | $-8.2M | ||
| Q3 24 | $99.2M | $42.5M | ||
| Q2 24 | $75.6M | — |
自由现金流率SAMSCSC
| Q1 26 | — | — | ||
| Q4 25 | 5.7% | 3.8% | ||
| Q3 25 | 16.6% | 2.8% | ||
| Q2 25 | 19.1% | — | ||
| Q1 25 | -1.8% | 9.2% | ||
| Q4 24 | 4.6% | -1.1% | ||
| Q3 24 | 16.4% | 5.5% | ||
| Q2 24 | 13.1% | — |
资本支出强度SAMSCSC
| Q1 26 | — | — | ||
| Q4 25 | 4.6% | 0.3% | ||
| Q3 25 | 2.3% | 0.3% | ||
| Q2 25 | 2.4% | 0.3% | ||
| Q1 25 | 2.2% | 0.2% | ||
| Q4 24 | 5.8% | 0.3% | ||
| Q3 24 | 2.8% | 0.3% | ||
| Q2 24 | 3.5% | 0.2% |
现金转化率SAMSCSC
| Q1 26 | — | — | ||
| Q4 25 | — | 1.87× | ||
| Q3 25 | 2.21× | 1.17× | ||
| Q2 25 | 2.09× | — | ||
| Q1 25 | 0.08× | 3.79× | ||
| Q4 24 | — | -0.36× | ||
| Q3 24 | 3.46× | 2.64× | ||
| Q2 24 | 1.83× | — |
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
SAM
暂无分部数据
SCSC
| Products And Services | $723.4M | 94% |
| Intelisys Advisory | $25.0M | 3% |
| Recurring Revenue | $18.2M | 2% |
