vs
BOSTON BEER CO INC（SAM）与Texas Pacific Land Corporation（TPL）财务数据对比。点击上方公司名可切换其他公司
BOSTON BEER CO INC的季度营收约是Texas Pacific Land Corporation的2.2倍（$461.6M vs $211.6M），Texas Pacific Land Corporation同比增速更快（13.9% vs -4.1%），过去两年Texas Pacific Land Corporation的营收复合增速更高（10.2% 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。
Texas Pacific Land Corporation（简称TPL）是一家公开上市的不动产运营企业，行政总部位于美国得克萨斯州达拉斯市。公司在得州西部20个郡拥有逾88万英亩（约3600平方公里）土地，是得州规模最大的私人土地所有者之一，前身为得克萨斯太平洋土地信托。
SAM vs TPL — 直观对比
营收规模更大
SAM
是对方的2.2倍
$211.6M
营收增速更快
TPL
高出18.0%
-4.1%
两年增速更快
TPL
近两年复合增速
-10.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $461.6M | $211.6M |
| 净利润 | — | $123.3M |
| 毛利率 | 46.4% | — |
| 营业利润率 | 12.4% | 70.5% |
| 净利率 | — | 58.3% |
| 营收同比 | -4.1% | 13.9% |
| 净利润同比 | — | 4.2% |
| 每股收益（稀释后） | $2.16 | $-8.59 |
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SAMTPL
| Q1 26 | $461.6M | — | ||
| Q4 25 | $385.7M | $211.6M | ||
| Q3 25 | $537.5M | $203.1M | ||
| Q2 25 | $587.9M | $187.5M | ||
| Q1 25 | $453.9M | $196.0M | ||
| Q4 24 | $402.3M | $185.8M | ||
| Q3 24 | $605.5M | $173.6M | ||
| Q2 24 | $579.1M | $172.3M |
净利润SAMTPL
| Q1 26 | — | — | ||
| Q4 25 | $-22.5M | $123.3M | ||
| Q3 25 | $46.2M | $121.2M | ||
| Q2 25 | $60.4M | $116.1M | ||
| Q1 25 | $24.4M | $120.7M | ||
| Q4 24 | $-38.8M | $118.4M | ||
| Q3 24 | $33.5M | $106.6M | ||
| Q2 24 | $52.3M | $114.6M |
毛利率SAMTPL
| Q1 26 | 46.4% | — | ||
| Q4 25 | 43.5% | — | ||
| Q3 25 | 50.8% | — | ||
| Q2 25 | 49.8% | — | ||
| Q1 25 | 48.3% | — | ||
| Q4 24 | 39.9% | — | ||
| Q3 24 | 46.3% | — | ||
| Q2 24 | 46.0% | — |
营业利润率SAMTPL
| Q1 26 | 12.4% | — | ||
| Q4 25 | -8.6% | 70.5% | ||
| Q3 25 | 11.5% | 73.4% | ||
| Q2 25 | 14.0% | 76.6% | ||
| Q1 25 | 7.4% | 76.6% | ||
| Q4 24 | -13.9% | 76.7% | ||
| Q3 24 | 7.6% | 73.4% | ||
| Q2 24 | 12.2% | 77.3% |
净利率SAMTPL
| Q1 26 | — | — | ||
| Q4 25 | -5.8% | 58.3% | ||
| Q3 25 | 8.6% | 59.7% | ||
| Q2 25 | 10.3% | 61.9% | ||
| Q1 25 | 5.4% | 61.6% | ||
| Q4 24 | -9.6% | 63.7% | ||
| Q3 24 | 5.5% | 61.4% | ||
| Q2 24 | 9.0% | 66.5% |
每股收益（稀释后）SAMTPL
| Q1 26 | $2.16 | — | ||
| Q4 25 | $-1.97 | $-8.59 | ||
| Q3 25 | $4.25 | $5.27 | ||
| Q2 25 | $5.45 | $5.05 | ||
| Q1 25 | $2.16 | $5.24 | ||
| Q4 24 | $-3.23 | $5.14 | ||
| Q3 24 | $2.86 | $4.63 | ||
| Q2 24 | $4.39 | $4.98 |
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 | $144.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $682.6M | $1.5B |
| 总资产 | $1.2B | $1.6B |
| 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SAMTPL
| Q1 26 | $164.1M | — | ||
| Q4 25 | $223.4M | $144.8M | ||
| Q3 25 | $250.5M | $531.8M | ||
| Q2 25 | $212.4M | $543.9M | ||
| Q1 25 | $152.5M | $460.4M | ||
| Q4 24 | $211.8M | $369.8M | ||
| Q3 24 | $255.6M | $533.9M | ||
| Q2 24 | $219.3M | $894.7M |
股东权益SAMTPL
| Q1 26 | $682.6M | — | ||
| Q4 25 | $846.3M | $1.5B | ||
| Q3 25 | $911.0M | $1.4B | ||
| Q2 25 | $912.3M | $1.3B | ||
| Q1 25 | $897.0M | $1.2B | ||
| Q4 24 | $916.2M | $1.1B | ||
| Q3 24 | $1.0B | $1.1B | ||
| Q2 24 | $1.0B | $1.2B |
总资产SAMTPL
| Q1 26 | $1.2B | — | ||
| Q4 25 | $1.2B | $1.6B | ||
| Q3 25 | $1.2B | $1.5B | ||
| Q2 25 | $1.3B | $1.4B | ||
| Q1 25 | $1.2B | $1.4B | ||
| Q4 24 | $1.3B | $1.2B | ||
| Q3 24 | $1.4B | $1.2B | ||
| Q2 24 | $1.4B | $1.3B |
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 | — | $113.7M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | — | 0.92× |
| 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SAMTPL
| Q1 26 | — | — | ||
| Q4 25 | $39.9M | $113.7M | ||
| Q3 25 | $101.8M | $154.6M | ||
| Q2 25 | $126.5M | $120.9M | ||
| Q1 25 | $1.9M | $156.7M | ||
| Q4 24 | $41.9M | $126.6M | ||
| Q3 24 | $115.9M | $118.6M | ||
| Q2 24 | $96.0M | $98.3M |
自由现金流SAMTPL
| Q1 26 | — | — | ||
| Q4 25 | $22.1M | — | ||
| Q3 25 | $89.2M | — | ||
| Q2 25 | $112.2M | — | ||
| Q1 25 | $-8.0M | — | ||
| Q4 24 | $18.4M | — | ||
| Q3 24 | $99.2M | — | ||
| Q2 24 | $75.6M | — |
自由现金流率SAMTPL
| Q1 26 | — | — | ||
| Q4 25 | 5.7% | — | ||
| Q3 25 | 16.6% | — | ||
| Q2 25 | 19.1% | — | ||
| Q1 25 | -1.8% | — | ||
| Q4 24 | 4.6% | — | ||
| Q3 24 | 16.4% | — | ||
| Q2 24 | 13.1% | — |
资本支出强度SAMTPL
| Q1 26 | — | — | ||
| Q4 25 | 4.6% | — | ||
| Q3 25 | 2.3% | — | ||
| Q2 25 | 2.4% | — | ||
| Q1 25 | 2.2% | — | ||
| Q4 24 | 5.8% | — | ||
| Q3 24 | 2.8% | — | ||
| Q2 24 | 3.5% | — |
现金转化率SAMTPL
| Q1 26 | — | — | ||
| Q4 25 | — | 0.92× | ||
| Q3 25 | 2.21× | 1.28× | ||
| Q2 25 | 2.09× | 1.04× | ||
| Q1 25 | 0.08× | 1.30× | ||
| Q4 24 | — | 1.07× | ||
| Q3 24 | 3.46× | 1.11× | ||
| Q2 24 | 1.83× | 0.86× |
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
TPL
| Water Serviceand Operations Segment | $98.2M | 46% |
| Water Sales And Royalties | $60.7M | 29% |
| Produced Water Royalties | $33.5M | 16% |
| Easementand Sundry | $20.6M | 10% |
