vs
BOSTON BEER CO INC（SAM）与摩森康胜饮品公司（TAP）财务数据对比。点击上方公司名可切换其他公司
摩森康胜饮品公司的季度营收约是BOSTON BEER CO INC的8.1倍（$3.1B vs $385.7M）。摩森康胜饮品公司净利率更高（7.6% vs -5.8%，领先13.5%）。摩森康胜饮品公司同比增速更快（-3.6% vs -4.1%）。摩森康胜饮品公司自由现金流更多（$357.8M vs $22.1M）。过去两年摩森康胜饮品公司的营收复合增速更高（1.2% vs -4.9%）
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。
摩森康胜饮品公司是一家美加合资的跨国饮料酿造企业，旗下拥有多款知名酒精及非酒精饮品产品线，业务覆盖全球多个国家和地区，目前在伊利诺伊州芝加哥与魁北克省蒙特利尔设有双总部。
SAM vs TAP — 直观对比
营收规模更大
TAP
是对方的8.1倍
$385.7M
营收增速更快
TAP
高出0.5%
-4.1%
净利率更高
TAP
高出13.5%
-5.8%
自由现金流更多
TAP
多$335.7M
$22.1M
两年增速更快
TAP
近两年复合增速
-4.9%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $385.7M | $3.1B |
| 净利润 | $-22.5M | $238.3M |
| 毛利率 | 43.5% | 31.0% |
| 营业利润率 | -8.6% | 10.4% |
| 净利率 | -5.8% | 7.6% |
| 营收同比 | -4.1% | -3.6% |
| 净利润同比 | 41.9% | -17.2% |
| 每股收益（稀释后） | $-1.97 | $1.32 |
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SAMTAP
| Q4 25 | $385.7M | $3.1B | ||
| Q3 25 | $537.5M | $3.5B | ||
| Q2 25 | $587.9M | $3.7B | ||
| Q1 25 | $453.9M | $2.7B | ||
| Q4 24 | $402.3M | $3.2B | ||
| Q3 24 | $605.5M | $3.6B | ||
| Q2 24 | $579.1M | $3.8B | ||
| Q1 24 | $426.1M | $3.0B |
净利润SAMTAP
| Q4 25 | $-22.5M | $238.3M | ||
| Q3 25 | $46.2M | $-2.9B | ||
| Q2 25 | $60.4M | $428.7M | ||
| Q1 25 | $24.4M | $121.0M | ||
| Q4 24 | $-38.8M | $287.8M | ||
| Q3 24 | $33.5M | $199.8M | ||
| Q2 24 | $52.3M | $427.0M | ||
| Q1 24 | $12.6M | $207.8M |
毛利率SAMTAP
| Q4 25 | 43.5% | 31.0% | ||
| Q3 25 | 50.8% | 33.7% | ||
| Q2 25 | 49.8% | 34.3% | ||
| Q1 25 | 48.3% | 31.6% | ||
| Q4 24 | 39.9% | 32.0% | ||
| Q3 24 | 46.3% | 33.4% | ||
| Q2 24 | 46.0% | 34.6% | ||
| Q1 24 | 43.7% | 31.6% |
营业利润率SAMTAP
| Q4 25 | -8.6% | 10.4% | ||
| Q3 25 | 11.5% | -98.5% | ||
| Q2 25 | 14.0% | 15.6% | ||
| Q1 25 | 7.4% | 6.9% | ||
| Q4 24 | -13.9% | 12.0% | ||
| Q3 24 | 7.6% | 12.5% | ||
| Q2 24 | 12.2% | 15.6% | ||
| Q1 24 | 3.6% | 10.3% |
净利率SAMTAP
| Q4 25 | -5.8% | 7.6% | ||
| Q3 25 | 8.6% | -84.0% | ||
| Q2 25 | 10.3% | 11.5% | ||
| Q1 25 | 5.4% | 4.5% | ||
| Q4 24 | -9.6% | 8.9% | ||
| Q3 24 | 5.5% | 5.5% | ||
| Q2 24 | 9.0% | 11.1% | ||
| Q1 24 | 3.0% | 6.8% |
每股收益（稀释后）SAMTAP
| Q4 25 | $-1.97 | $1.32 | ||
| Q3 25 | $4.25 | $-14.79 | ||
| Q2 25 | $5.45 | $2.13 | ||
| Q1 25 | $2.16 | $0.59 | ||
| Q4 24 | $-3.23 | $1.39 | ||
| Q3 24 | $2.86 | $0.96 | ||
| Q2 24 | $4.39 | $2.03 | ||
| Q1 24 | $1.04 | $0.97 |
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 | $223.4M | $896.5M |
| 总债务越低越好 | — | $6.3B |
| 股东权益账面价值 | $846.3M | $10.2B |
| 总资产 | $1.2B | $22.7B |
| 负债/权益比越低杠杆越低 | — | 0.61× |
8季度趋势，按日历期对齐
现金及短期投资SAMTAP
| Q4 25 | $223.4M | $896.5M | ||
| Q3 25 | $250.5M | $950.2M | ||
| Q2 25 | $212.4M | $613.8M | ||
| Q1 25 | $152.5M | $412.7M | ||
| Q4 24 | $211.8M | $969.3M | ||
| Q3 24 | $255.6M | $1.0B | ||
| Q2 24 | $219.3M | $1.6B | ||
| Q1 24 | $205.4M | $458.4M |
总债务SAMTAP
| Q4 25 | — | $6.3B | ||
| Q3 25 | — | $6.3B | ||
| Q2 25 | — | $6.3B | ||
| Q1 25 | — | $6.2B | ||
| Q4 24 | — | $6.1B | ||
| Q3 24 | — | $6.2B | ||
| Q2 24 | — | $7.0B | ||
| Q1 24 | — | $6.2B |
股东权益SAMTAP
| Q4 25 | $846.3M | $10.2B | ||
| Q3 25 | $911.0M | $10.3B | ||
| Q2 25 | $912.3M | $13.4B | ||
| Q1 25 | $897.0M | $13.1B | ||
| Q4 24 | $916.2M | $13.1B | ||
| Q3 24 | $1.0B | $13.3B | ||
| Q2 24 | $1.0B | $13.2B | ||
| Q1 24 | $1.0B | $13.1B |
总资产SAMTAP
| Q4 25 | $1.2B | $22.7B | ||
| Q3 25 | $1.2B | $22.9B | ||
| Q2 25 | $1.3B | $26.8B | ||
| Q1 25 | $1.2B | $25.9B | ||
| Q4 24 | $1.3B | $26.1B | ||
| Q3 24 | $1.4B | $26.6B | ||
| Q2 24 | $1.4B | $27.4B | ||
| Q1 24 | $1.4B | $26.1B |
负债/权益比SAMTAP
| Q4 25 | — | 0.61× | ||
| Q3 25 | — | 0.61× | ||
| Q2 25 | — | 0.47× | ||
| Q1 25 | — | 0.47× | ||
| Q4 24 | — | 0.47× | ||
| Q3 24 | — | 0.47× | ||
| Q2 24 | — | 0.53× | ||
| Q1 24 | — | 0.47× |
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 | $39.9M | $540.7M |
| 自由现金流经营现金流 - 资本支出 | $22.1M | $357.8M |
| 自由现金流率自由现金流/营收 | 5.7% | 11.4% |
| 资本支出强度资本支出/营收 | 4.6% | 5.9% |
| 现金转化率经营现金流/净利润 | — | 2.27× |
| 过去12个月自由现金流最近4个季度 | $215.6M | $1.1B |
8季度趋势，按日历期对齐
经营现金流SAMTAP
| Q4 25 | $39.9M | $540.7M | ||
| Q3 25 | $101.8M | $616.1M | ||
| Q2 25 | $126.5M | $718.3M | ||
| Q1 25 | $1.9M | $-90.7M | ||
| Q4 24 | $41.9M | $494.5M | ||
| Q3 24 | $115.9M | $521.2M | ||
| Q2 24 | $96.0M | $869.2M | ||
| Q1 24 | $-4.9M | $25.4M |
自由现金流SAMTAP
| Q4 25 | $22.1M | $357.8M | ||
| Q3 25 | $89.2M | $483.0M | ||
| Q2 25 | $112.2M | $555.0M | ||
| Q1 25 | $-8.0M | $-328.0M | ||
| Q4 24 | $18.4M | $383.4M | ||
| Q3 24 | $99.2M | $350.4M | ||
| Q2 24 | $75.6M | $691.7M | ||
| Q1 24 | $-20.6M | $-189.3M |
自由现金流率SAMTAP
| Q4 25 | 5.7% | 11.4% | ||
| Q3 25 | 16.6% | 13.9% | ||
| Q2 25 | 19.1% | 14.8% | ||
| Q1 25 | -1.8% | -12.2% | ||
| Q4 24 | 4.6% | 11.8% | ||
| Q3 24 | 16.4% | 9.7% | ||
| Q2 24 | 13.1% | 18.0% | ||
| Q1 24 | -4.8% | -6.2% |
资本支出强度SAMTAP
| Q4 25 | 4.6% | 5.9% | ||
| Q3 25 | 2.3% | 3.8% | ||
| Q2 25 | 2.4% | 4.4% | ||
| Q1 25 | 2.2% | 8.8% | ||
| Q4 24 | 5.8% | 3.4% | ||
| Q3 24 | 2.8% | 4.7% | ||
| Q2 24 | 3.5% | 4.6% | ||
| Q1 24 | 3.7% | 7.0% |
现金转化率SAMTAP
| Q4 25 | — | 2.27× | ||
| Q3 25 | 2.21× | — | ||
| Q2 25 | 2.09× | 1.68× | ||
| Q1 25 | 0.08× | -0.75× | ||
| Q4 24 | — | 1.72× | ||
| Q3 24 | 3.46× | 2.61× | ||
| Q2 24 | 1.83× | 2.04× | ||
| Q1 24 | -0.39× | 0.12× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
