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BOSTON BEER CO INC（SAM）与Clear Secure, Inc.（YOU）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Clear Secure, Inc.的1.9倍（$461.6M vs $240.8M），Clear Secure, Inc.同比增速更快（16.7% vs -4.1%），过去两年Clear Secure, Inc.的营收复合增速更高（16.0% 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。
Clear Secure, Inc.是美国一家科技企业，主营生物识别旅行证件核验系统，其服务已覆盖部分大型机场与体育场馆。公司成立于2003年，2009年申请破产后停运，2012年重启运营，最终于2021年成功上市。
SAM vs YOU — 直观对比
营收规模更大
SAM
是对方的1.9倍
$240.8M
营收增速更快
YOU
高出20.8%
-4.1%
两年增速更快
YOU
近两年复合增速
-10.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $461.6M | $240.8M |
| 净利润 | — | $30.8M |
| 毛利率 | 46.4% | — |
| 营业利润率 | 12.4% | 22.4% |
| 净利率 | — | 12.8% |
| 营收同比 | -4.1% | 16.7% |
| 净利润同比 | — | -70.2% |
| 每股收益（稀释后） | $2.16 | — |
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SAMYOU
| Q1 26 | $461.6M | — | ||
| Q4 25 | $385.7M | $240.8M | ||
| Q3 25 | $537.5M | $229.2M | ||
| Q2 25 | $587.9M | $219.5M | ||
| Q1 25 | $453.9M | $211.4M | ||
| Q4 24 | $402.3M | $206.3M | ||
| Q3 24 | $605.5M | $198.4M | ||
| Q2 24 | $579.1M | $186.7M |
净利润SAMYOU
| Q1 26 | — | — | ||
| Q4 25 | $-22.5M | $30.8M | ||
| Q3 25 | $46.2M | $28.3M | ||
| Q2 25 | $60.4M | $24.7M | ||
| Q1 25 | $24.4M | $25.4M | ||
| Q4 24 | $-38.8M | $103.3M | ||
| Q3 24 | $33.5M | $23.5M | ||
| Q2 24 | $52.3M | $24.1M |
毛利率SAMYOU
| 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SAMYOU
| Q1 26 | 12.4% | — | ||
| Q4 25 | -8.6% | 22.4% | ||
| Q3 25 | 11.5% | 23.0% | ||
| Q2 25 | 14.0% | 19.4% | ||
| Q1 25 | 7.4% | 17.7% | ||
| Q4 24 | -13.9% | 16.5% | ||
| Q3 24 | 7.6% | 17.7% | ||
| Q2 24 | 12.2% | 16.2% |
净利率SAMYOU
| Q1 26 | — | — | ||
| Q4 25 | -5.8% | 12.8% | ||
| Q3 25 | 8.6% | 12.3% | ||
| Q2 25 | 10.3% | 11.3% | ||
| Q1 25 | 5.4% | 12.0% | ||
| Q4 24 | -9.6% | 50.1% | ||
| Q3 24 | 5.5% | 11.8% | ||
| Q2 24 | 9.0% | 12.9% |
每股收益（稀释后）SAMYOU
| Q1 26 | $2.16 | — | ||
| Q4 25 | $-1.97 | — | ||
| Q3 25 | $4.25 | — | ||
| Q2 25 | $5.45 | — | ||
| Q1 25 | $2.16 | — | ||
| Q4 24 | $-3.23 | — | ||
| Q3 24 | $2.86 | — | ||
| Q2 24 | $4.39 | — |
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 | $85.7M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $682.6M | $177.7M |
| 总资产 | $1.2B | $1.3B |
| 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SAMYOU
| Q1 26 | $164.1M | — | ||
| Q4 25 | $223.4M | $85.7M | ||
| Q3 25 | $250.5M | $75.8M | ||
| Q2 25 | $212.4M | $89.3M | ||
| Q1 25 | $152.5M | $87.6M | ||
| Q4 24 | $211.8M | $66.9M | ||
| Q3 24 | $255.6M | $32.9M | ||
| Q2 24 | $219.3M | $39.1M |
股东权益SAMYOU
| Q1 26 | $682.6M | — | ||
| Q4 25 | $846.3M | $177.7M | ||
| Q3 25 | $911.0M | $148.6M | ||
| Q2 25 | $912.3M | $121.3M | ||
| Q1 25 | $897.0M | $116.7M | ||
| Q4 24 | $916.2M | $198.4M | ||
| Q3 24 | $1.0B | $129.0M | ||
| Q2 24 | $1.0B | $153.5M |
总资产SAMYOU
| Q1 26 | $1.2B | — | ||
| Q4 25 | $1.2B | $1.3B | ||
| Q3 25 | $1.2B | $1.1B | ||
| Q2 25 | $1.3B | $1.2B | ||
| Q1 25 | $1.2B | $1.1B | ||
| Q4 24 | $1.3B | $1.2B | ||
| Q3 24 | $1.4B | $858.6M | ||
| Q2 24 | $1.4B | $982.4M |
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 | — | $198.4M |
| 自由现金流经营现金流 - 资本支出 | — | $187.4M |
| 自由现金流率自由现金流/营收 | — | 77.8% |
| 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 | — | 6.45× |
| 过去12个月自由现金流最近4个季度 | — | $343.1M |
8季度趋势，按日历期对齐
经营现金流SAMYOU
| Q1 26 | — | — | ||
| Q4 25 | $39.9M | $198.4M | ||
| Q3 25 | $101.8M | $-47.3M | ||
| Q2 25 | $126.5M | $123.0M | ||
| Q1 25 | $1.9M | $98.3M | ||
| Q4 24 | $41.9M | $136.6M | ||
| Q3 24 | $115.9M | $-35.9M | ||
| Q2 24 | $96.0M | $114.6M |
自由现金流SAMYOU
| Q1 26 | — | — | ||
| Q4 25 | $22.1M | $187.4M | ||
| Q3 25 | $89.2M | $-53.5M | ||
| Q2 25 | $112.2M | $117.9M | ||
| Q1 25 | $-8.0M | $91.3M | ||
| Q4 24 | $18.4M | $133.9M | ||
| Q3 24 | $99.2M | $-37.9M | ||
| Q2 24 | $75.6M | $110.1M |
自由现金流率SAMYOU
| Q1 26 | — | — | ||
| Q4 25 | 5.7% | 77.8% | ||
| Q3 25 | 16.6% | -23.3% | ||
| Q2 25 | 19.1% | 53.7% | ||
| Q1 25 | -1.8% | 43.2% | ||
| Q4 24 | 4.6% | 64.9% | ||
| Q3 24 | 16.4% | -19.1% | ||
| Q2 24 | 13.1% | 59.0% |
资本支出强度SAMYOU
| Q1 26 | — | — | ||
| Q4 25 | 4.6% | 4.6% | ||
| Q3 25 | 2.3% | 2.7% | ||
| Q2 25 | 2.4% | 2.3% | ||
| Q1 25 | 2.2% | 3.4% | ||
| Q4 24 | 5.8% | 1.3% | ||
| Q3 24 | 2.8% | 1.0% | ||
| Q2 24 | 3.5% | 2.4% |
现金转化率SAMYOU
| Q1 26 | — | — | ||
| Q4 25 | — | 6.45× | ||
| Q3 25 | 2.21× | -1.67× | ||
| Q2 25 | 2.09× | 4.97× | ||
| Q1 25 | 0.08× | 3.87× | ||
| Q4 24 | — | 1.32× | ||
| Q3 24 | 3.46× | -1.53× | ||
| Q2 24 | 1.83× | 4.75× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
