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BOSTON BEER CO INC（SAM）与猫途鹰（TRIP）财务数据对比。点击上方公司名可切换其他公司
BOSTON BEER CO INC的季度营收约是猫途鹰的1.1倍（$461.6M vs $411.0M），猫途鹰同比增速更快（0.0% vs -4.1%），过去两年猫途鹰的营收复合增速更高（2.0% 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。
TripAdvisor是美国知名在线旅游服务企业，旗下运营在线旅行社平台、旅游产品比价网站及移动应用，平台拥有大量用户生成的真实旅行内容，为全球消费者提供出行规划、预订等多元服务。
SAM vs TRIP — 直观对比
营收规模更大
SAM
是对方的1.1倍
$411.0M
营收增速更快
TRIP
高出4.1%
-4.1%
两年增速更快
TRIP
近两年复合增速
-10.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $461.6M | $411.0M |
| 净利润 | — | $-38.0M |
| 毛利率 | 46.4% | 91.5% |
| 营业利润率 | 12.4% | -8.3% |
| 净利率 | — | -9.2% |
| 营收同比 | -4.1% | 0.0% |
| 净利润同比 | — | -3900.0% |
| 每股收益（稀释后） | $2.16 | $-0.32 |
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SAMTRIP
| Q1 26 | $461.6M | — | ||
| Q4 25 | $385.7M | $411.0M | ||
| Q3 25 | $537.5M | $553.0M | ||
| Q2 25 | $587.9M | $529.0M | ||
| Q1 25 | $453.9M | $398.0M | ||
| Q4 24 | $402.3M | $411.0M | ||
| Q3 24 | $605.5M | $532.0M | ||
| Q2 24 | $579.1M | $497.0M |
净利润SAMTRIP
| Q1 26 | — | — | ||
| Q4 25 | $-22.5M | $-38.0M | ||
| Q3 25 | $46.2M | $53.0M | ||
| Q2 25 | $60.4M | $36.0M | ||
| Q1 25 | $24.4M | $-11.0M | ||
| Q4 24 | $-38.8M | $1.0M | ||
| Q3 24 | $33.5M | $39.0M | ||
| Q2 24 | $52.3M | $24.0M |
毛利率SAMTRIP
| Q1 26 | 46.4% | — | ||
| Q4 25 | 43.5% | 91.5% | ||
| Q3 25 | 50.8% | 92.6% | ||
| Q2 25 | 49.8% | 92.1% | ||
| Q1 25 | 48.3% | 93.2% | ||
| Q4 24 | 39.9% | 93.4% | ||
| Q3 24 | 46.3% | 92.5% | ||
| Q2 24 | 46.0% | 92.8% |
营业利润率SAMTRIP
| Q1 26 | 12.4% | — | ||
| Q4 25 | -8.6% | -8.3% | ||
| Q3 25 | 11.5% | 12.7% | ||
| Q2 25 | 14.0% | 11.2% | ||
| Q1 25 | 7.4% | -3.8% | ||
| Q4 24 | -13.9% | 0.2% | ||
| Q3 24 | 7.6% | 13.2% | ||
| Q2 24 | 12.2% | 7.2% |
净利率SAMTRIP
| Q1 26 | — | — | ||
| Q4 25 | -5.8% | -9.2% | ||
| Q3 25 | 8.6% | 9.6% | ||
| Q2 25 | 10.3% | 6.8% | ||
| Q1 25 | 5.4% | -2.8% | ||
| Q4 24 | -9.6% | 0.2% | ||
| Q3 24 | 5.5% | 7.3% | ||
| Q2 24 | 9.0% | 4.8% |
每股收益（稀释后）SAMTRIP
| Q1 26 | $2.16 | — | ||
| Q4 25 | $-1.97 | $-0.32 | ||
| Q3 25 | $4.25 | $0.43 | ||
| Q2 25 | $5.45 | $0.28 | ||
| Q1 25 | $2.16 | $-0.08 | ||
| Q4 24 | $-3.23 | $0.03 | ||
| Q3 24 | $2.86 | $0.27 | ||
| Q2 24 | $4.39 | $0.17 |
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 | $1.0B |
| 总债务越低越好 | — | $819.0M |
| 股东权益账面价值 | $682.6M | $645.0M |
| 总资产 | $1.2B | $2.6B |
| 负债/权益比越低杠杆越低 | — | 1.27× |
8季度趋势，按日历期对齐
现金及短期投资SAMTRIP
| Q1 26 | $164.1M | — | ||
| Q4 25 | $223.4M | $1.0B | ||
| Q3 25 | $250.5M | $1.2B | ||
| Q2 25 | $212.4M | $1.2B | ||
| Q1 25 | $152.5M | $1.2B | ||
| Q4 24 | $211.8M | $1.1B | ||
| Q3 24 | $255.6M | $1.1B | ||
| Q2 24 | $219.3M | $1.2B |
总债务SAMTRIP
| Q1 26 | — | — | ||
| Q4 25 | — | $819.0M | ||
| Q3 25 | — | $821.0M | ||
| Q2 25 | — | $822.0M | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | — | $831.0M | ||
| Q3 24 | — | $832.0M | ||
| Q2 24 | — | — |
股东权益SAMTRIP
| Q1 26 | $682.6M | — | ||
| Q4 25 | $846.3M | $645.0M | ||
| Q3 25 | $911.0M | $707.0M | ||
| Q2 25 | $912.3M | $627.0M | ||
| Q1 25 | $897.0M | $643.0M | ||
| Q4 24 | $916.2M | $943.0M | ||
| Q3 24 | $1.0B | $944.0M | ||
| Q2 24 | $1.0B | $857.0M |
总资产SAMTRIP
| Q1 26 | $1.2B | — | ||
| Q4 25 | $1.2B | $2.6B | ||
| Q3 25 | $1.2B | $2.8B | ||
| Q2 25 | $1.3B | $2.9B | ||
| Q1 25 | $1.2B | $2.8B | ||
| Q4 24 | $1.3B | $2.6B | ||
| Q3 24 | $1.4B | $2.7B | ||
| Q2 24 | $1.4B | $2.8B |
负债/权益比SAMTRIP
| Q1 26 | — | — | ||
| Q4 25 | — | 1.27× | ||
| Q3 25 | — | 1.16× | ||
| Q2 25 | — | 1.31× | ||
| Q1 25 | — | 1.81× | ||
| Q4 24 | — | 0.88× | ||
| Q3 24 | — | 0.88× | ||
| Q2 24 | — | — |
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 | — | $-103.0M |
| 自由现金流经营现金流 - 资本支出 | — | $-122.0M |
| 自由现金流率自由现金流/营收 | — | -29.7% |
| 资本支出强度资本支出/营收 | — | 4.6% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | $163.0M |
8季度趋势，按日历期对齐
经营现金流SAMTRIP
| Q1 26 | — | — | ||
| Q4 25 | $39.9M | $-103.0M | ||
| Q3 25 | $101.8M | $44.0M | ||
| Q2 25 | $126.5M | $202.0M | ||
| Q1 25 | $1.9M | $102.0M | ||
| Q4 24 | $41.9M | $-3.0M | ||
| Q3 24 | $115.9M | $-43.0M | ||
| Q2 24 | $96.0M | $51.0M |
自由现金流SAMTRIP
| Q1 26 | — | — | ||
| Q4 25 | $22.1M | $-122.0M | ||
| Q3 25 | $89.2M | $25.0M | ||
| Q2 25 | $112.2M | $177.0M | ||
| Q1 25 | $-8.0M | $83.0M | ||
| Q4 24 | $18.4M | $-26.0M | ||
| Q3 24 | $99.2M | $-63.0M | ||
| Q2 24 | $75.6M | $36.0M |
自由现金流率SAMTRIP
| Q1 26 | — | — | ||
| Q4 25 | 5.7% | -29.7% | ||
| Q3 25 | 16.6% | 4.5% | ||
| Q2 25 | 19.1% | 33.5% | ||
| Q1 25 | -1.8% | 20.9% | ||
| Q4 24 | 4.6% | -6.3% | ||
| Q3 24 | 16.4% | -11.8% | ||
| Q2 24 | 13.1% | 7.2% |
资本支出强度SAMTRIP
| Q1 26 | — | — | ||
| Q4 25 | 4.6% | 4.6% | ||
| Q3 25 | 2.3% | 3.4% | ||
| Q2 25 | 2.4% | 4.7% | ||
| Q1 25 | 2.2% | 4.8% | ||
| Q4 24 | 5.8% | 5.6% | ||
| Q3 24 | 2.8% | 3.8% | ||
| Q2 24 | 3.5% | 3.0% |
现金转化率SAMTRIP
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 2.21× | 0.83× | ||
| Q2 25 | 2.09× | 5.61× | ||
| Q1 25 | 0.08× | — | ||
| Q4 24 | — | -3.00× | ||
| Q3 24 | 3.46× | -1.10× | ||
| Q2 24 | 1.83× | 2.13× |
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
TRIP
| Third Party | $327.0M | 80% |
| The Fork | $58.0M | 14% |
| Other | $26.0M | 6% |
