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BOSTON BEER CO INC（SAM）与Upstart Holdings, Inc.（UPST）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Upstart Holdings, Inc.的1.5倍（$461.6M vs $308.2M），Upstart Holdings, Inc.同比增速更快（44.4% vs -4.1%），过去两年Upstart Holdings, Inc.的营收复合增速更高（55.4% 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。
Upstart是一家AI信贷平台服务商，与银行及信用合作社合作，将教育背景、就业情况等非传统指标纳入信用评估模型，更精准地预测借款人的信用状况，为用户提供消费贷款服务，助力金融机构提升信贷效率、扩大服务覆盖范围。
SAM vs UPST — 直观对比
营收规模更大
SAM
是对方的1.5倍
$308.2M
营收增速更快
UPST
高出48.6%
-4.1%
两年增速更快
UPST
近两年复合增速
-10.7%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $461.6M | $308.2M |
| 净利润 | — | $-6.6M |
| 毛利率 | 46.4% | — |
| 营业利润率 | 12.4% | -2.4% |
| 净利率 | — | -2.2% |
| 营收同比 | -4.1% | 44.4% |
| 净利润同比 | — | -171.6% |
| 每股收益（稀释后） | $2.16 | $-0.07 |
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SAMUPST
| Q1 26 | $461.6M | $308.2M | ||
| Q4 25 | $385.7M | $296.1M | ||
| Q3 25 | $537.5M | $277.1M | ||
| Q2 25 | $587.9M | $257.3M | ||
| Q1 25 | $453.9M | $213.4M | ||
| Q4 24 | $402.3M | $219.0M | ||
| Q3 24 | $605.5M | $162.1M | ||
| Q2 24 | $579.1M | $127.6M |
净利润SAMUPST
| Q1 26 | — | $-6.6M | ||
| Q4 25 | $-22.5M | $18.6M | ||
| Q3 25 | $46.2M | $31.8M | ||
| Q2 25 | $60.4M | $5.6M | ||
| Q1 25 | $24.4M | $-2.4M | ||
| Q4 24 | $-38.8M | $-2.8M | ||
| Q3 24 | $33.5M | $-6.8M | ||
| Q2 24 | $52.3M | $-54.5M |
毛利率SAMUPST
| 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SAMUPST
| Q1 26 | 12.4% | -2.4% | ||
| Q4 25 | -8.6% | 6.4% | ||
| Q3 25 | 11.5% | 8.5% | ||
| Q2 25 | 14.0% | 1.8% | ||
| Q1 25 | 7.4% | -2.1% | ||
| Q4 24 | -13.9% | -2.2% | ||
| Q3 24 | 7.6% | -27.8% | ||
| Q2 24 | 12.2% | -43.5% |
净利率SAMUPST
| Q1 26 | — | -2.2% | ||
| Q4 25 | -5.8% | 6.3% | ||
| Q3 25 | 8.6% | 11.5% | ||
| Q2 25 | 10.3% | 2.2% | ||
| Q1 25 | 5.4% | -1.1% | ||
| Q4 24 | -9.6% | -1.3% | ||
| Q3 24 | 5.5% | -4.2% | ||
| Q2 24 | 9.0% | -42.7% |
每股收益（稀释后）SAMUPST
| Q1 26 | $2.16 | $-0.07 | ||
| Q4 25 | $-1.97 | $0.20 | ||
| Q3 25 | $4.25 | $0.23 | ||
| Q2 25 | $5.45 | $0.05 | ||
| Q1 25 | $2.16 | $-0.03 | ||
| Q4 24 | $-3.23 | $-0.01 | ||
| Q3 24 | $2.86 | $-0.07 | ||
| Q2 24 | $4.39 | $-0.62 |
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 | $472.9M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $682.6M | $733.2M |
| 总资产 | $1.2B | $3.0B |
| 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SAMUPST
| Q1 26 | $164.1M | $472.9M | ||
| Q4 25 | $223.4M | $652.4M | ||
| Q3 25 | $250.5M | $489.8M | ||
| Q2 25 | $212.4M | $395.9M | ||
| Q1 25 | $152.5M | $599.8M | ||
| Q4 24 | $211.8M | $788.4M | ||
| Q3 24 | $255.6M | — | ||
| Q2 24 | $219.3M | — |
股东权益SAMUPST
| Q1 26 | $682.6M | $733.2M | ||
| Q4 25 | $846.3M | $798.8M | ||
| Q3 25 | $911.0M | $743.7M | ||
| Q2 25 | $912.3M | $722.0M | ||
| Q1 25 | $897.0M | $676.6M | ||
| Q4 24 | $916.2M | $633.2M | ||
| Q3 24 | $1.0B | $595.5M | ||
| Q2 24 | $1.0B | $594.7M |
总资产SAMUPST
| Q1 26 | $1.2B | $3.0B | ||
| Q4 25 | $1.2B | $3.0B | ||
| Q3 25 | $1.2B | $2.9B | ||
| Q2 25 | $1.3B | $2.5B | ||
| Q1 25 | $1.2B | $2.3B | ||
| Q4 24 | $1.3B | $2.4B | ||
| 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 | — | $-133.3M |
| 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 | — | — |
| 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SAMUPST
| Q1 26 | — | $-133.3M | ||
| Q4 25 | $39.9M | $108.6M | ||
| Q3 25 | $101.8M | $-122.6M | ||
| Q2 25 | $126.5M | $-120.2M | ||
| Q1 25 | $1.9M | $-13.5M | ||
| Q4 24 | $41.9M | $-110.9M | ||
| Q3 24 | $115.9M | $179.3M | ||
| Q2 24 | $96.0M | $65.3M |
自由现金流SAMUPST
| Q1 26 | — | — | ||
| Q4 25 | $22.1M | $108.4M | ||
| Q3 25 | $89.2M | $-122.7M | ||
| Q2 25 | $112.2M | $-120.3M | ||
| Q1 25 | $-8.0M | — | ||
| Q4 24 | $18.4M | — | ||
| Q3 24 | $99.2M | $179.2M | ||
| Q2 24 | $75.6M | $65.3M |
自由现金流率SAMUPST
| Q1 26 | — | — | ||
| Q4 25 | 5.7% | 36.6% | ||
| Q3 25 | 16.6% | -44.3% | ||
| Q2 25 | 19.1% | -46.7% | ||
| Q1 25 | -1.8% | — | ||
| Q4 24 | 4.6% | — | ||
| Q3 24 | 16.4% | 110.5% | ||
| Q2 24 | 13.1% | 51.1% |
资本支出强度SAMUPST
| Q1 26 | — | — | ||
| Q4 25 | 4.6% | 0.1% | ||
| Q3 25 | 2.3% | 0.0% | ||
| Q2 25 | 2.4% | 0.0% | ||
| Q1 25 | 2.2% | 0.0% | ||
| Q4 24 | 5.8% | 0.0% | ||
| Q3 24 | 2.8% | 0.1% | ||
| Q2 24 | 3.5% | 0.0% |
现金转化率SAMUPST
| Q1 26 | — | — | ||
| Q4 25 | — | 5.82× | ||
| Q3 25 | 2.21× | -3.86× | ||
| Q2 25 | 2.09× | -21.43× | ||
| Q1 25 | 0.08× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.46× | — | ||
| 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
UPST
| Platform and referral fees, net | $224.6M | 73% |
| Servicing and other fees, net | $52.4M | 17% |
| Other | $31.2M | 10% |
