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SEABOARD CORP（SEB）与Constellation Brands（STZ）财务数据对比。点击上方公司名可切换其他公司
SEABOARD CORP的季度营收约是Constellation Brands的1.1倍（$2.4B vs $2.2B），Constellation Brands净利率更高（22.6% vs 10.6%，领先12.0%），SEABOARD CORP同比增速更快（-2.9% vs -9.8%），Constellation Brands自由现金流更多（$370.9M vs $53.0M），过去两年SEABOARD CORP的营收复合增速更高（4.9% vs 1.9%）
Seaboard Corporation是一家多元化跨国农业综合及运输集团，业务覆盖多个垂直整合领域。美国本土核心业务包括生猪养殖加工与远洋运输，海外板块主营大宗商品贸易、谷物加工、食糖生产及发电，总部位于堪萨斯州梅里亚姆。
Constellation Brands, Inc.是总部位于美国纽约州罗切斯特的《财富》500强企业，主营啤酒、葡萄酒及烈酒的生产与营销，按销售额计算是美国最大的啤酒进口商，在全美主要啤酒供应商中市场份额位列第三。公司还通过与Canopy Growth合作在医用及娱乐大麻领域有大额投资，现有约40处设施、近9000名员工。
SEB vs STZ — 直观对比
营收规模更大
SEB
是对方的1.1倍
$2.2B
营收增速更快
SEB
高出6.9%
-9.8%
净利率更高
STZ
高出12.0%
10.6%
自由现金流更多
STZ
多$317.9M
$53.0M
两年增速更快
SEB
近两年复合增速
1.9%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.4B | $2.2B |
| 净利润 | $255.0M | $502.8M |
| 毛利率 | 7.9% | 53.2% |
| 营业利润率 | 2.7% | 31.1% |
| 净利率 | 10.6% | 22.6% |
| 营收同比 | -2.9% | -9.8% |
| 净利润同比 | 63.5% | -18.4% |
| 每股收益（稀释后） | $262.58 | — |
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SEBSTZ
| Q4 25 | $2.4B | $2.2B | ||
| Q3 25 | $2.5B | $2.5B | ||
| Q2 25 | $2.5B | $2.5B | ||
| Q1 25 | $2.3B | $2.2B | ||
| Q4 24 | $2.5B | $2.5B | ||
| Q3 24 | $2.2B | $2.9B | ||
| Q2 24 | $2.2B | $2.7B | ||
| Q1 24 | $2.2B | $2.1B |
净利润SEBSTZ
| Q4 25 | $255.0M | $502.8M | ||
| Q3 25 | $110.0M | $466.0M | ||
| Q2 25 | $104.0M | $516.1M | ||
| Q1 25 | $32.0M | $-375.3M | ||
| Q4 24 | $156.0M | $615.9M | ||
| Q3 24 | $-149.0M | $-1.2B | ||
| Q2 24 | $61.0M | $877.0M | ||
| Q1 24 | $22.0M | $392.4M |
毛利率SEBSTZ
| Q4 25 | 7.9% | 53.2% | ||
| Q3 25 | 7.8% | 52.8% | ||
| Q2 25 | 6.5% | 50.4% | ||
| Q1 25 | 6.1% | 51.5% | ||
| Q4 24 | 9.0% | 52.1% | ||
| Q3 24 | 6.2% | 51.8% | ||
| Q2 24 | 5.8% | 52.7% | ||
| Q1 24 | 4.0% | 48.6% |
营业利润率SEBSTZ
| Q4 25 | 2.7% | 31.1% | ||
| Q3 25 | 3.3% | 35.2% | ||
| Q2 25 | 2.1% | 28.4% | ||
| Q1 25 | 1.6% | -6.9% | ||
| Q4 24 | 4.6% | 32.2% | ||
| Q3 24 | 1.4% | -42.1% | ||
| Q2 24 | 1.4% | 35.4% | ||
| Q1 24 | -0.9% | 29.4% |
净利率SEBSTZ
| Q4 25 | 10.6% | 22.6% | ||
| Q3 25 | 4.3% | 18.8% | ||
| Q2 25 | 4.2% | 20.5% | ||
| Q1 25 | 1.4% | -17.3% | ||
| Q4 24 | 6.3% | 25.0% | ||
| Q3 24 | -6.7% | -41.1% | ||
| Q2 24 | 2.8% | 32.9% | ||
| Q1 24 | 1.0% | 18.3% |
每股收益（稀释后）SEBSTZ
| Q4 25 | $262.58 | — | ||
| Q3 25 | $113.71 | — | ||
| Q2 25 | $105.22 | — | ||
| Q1 25 | $32.95 | — | ||
| Q4 24 | $158.58 | — | ||
| Q3 24 | $-153.44 | — | ||
| Q2 24 | $62.82 | — | ||
| Q1 24 | $22.66 | — |
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 | $1.2B | $152.4M |
| 总债务越低越好 | — | $10.3B |
| 股东权益账面价值 | $5.2B | $7.7B |
| 总资产 | $8.2B | $21.7B |
| 负债/权益比越低杠杆越低 | — | 1.33× |
8季度趋势，按日历期对齐
现金及短期投资SEBSTZ
| Q4 25 | $1.2B | $152.4M | ||
| Q3 25 | $1.2B | $72.0M | ||
| Q2 25 | $1.1B | $73.9M | ||
| Q1 25 | $1.1B | $68.1M | ||
| Q4 24 | $1.2B | $73.7M | ||
| Q3 24 | $1.2B | $64.6M | ||
| Q2 24 | $1.2B | $73.8M | ||
| Q1 24 | $1.2B | $152.4M |
总债务SEBSTZ
| Q4 25 | — | $10.3B | ||
| Q3 25 | — | $10.3B | ||
| Q2 25 | — | $11.2B | ||
| Q1 25 | — | $10.7B | ||
| Q4 24 | — | $10.7B | ||
| Q3 24 | — | $11.1B | ||
| Q2 24 | — | $11.1B | ||
| Q1 24 | — | $11.6B |
股东权益SEBSTZ
| Q4 25 | $5.2B | $7.7B | ||
| Q3 25 | $5.0B | $7.5B | ||
| Q2 25 | $4.8B | $7.3B | ||
| Q1 25 | $4.7B | $6.9B | ||
| Q4 24 | $4.7B | $7.8B | ||
| Q3 24 | $4.5B | $7.9B | ||
| Q2 24 | $4.7B | $10.3B | ||
| Q1 24 | $4.6B | $9.7B |
总资产SEBSTZ
| Q4 25 | $8.2B | $21.7B | ||
| Q3 25 | $8.0B | $21.4B | ||
| Q2 25 | $7.9B | $22.3B | ||
| Q1 25 | $7.6B | $21.7B | ||
| Q4 24 | $7.7B | $22.8B | ||
| Q3 24 | $7.5B | $23.1B | ||
| Q2 24 | $7.7B | $26.1B | ||
| Q1 24 | $7.6B | $25.7B |
负债/权益比SEBSTZ
| Q4 25 | — | 1.33× | ||
| Q3 25 | — | 1.37× | ||
| Q2 25 | — | 1.54× | ||
| Q1 25 | — | 1.55× | ||
| Q4 24 | — | 1.37× | ||
| Q3 24 | — | 1.41× | ||
| Q2 24 | — | 1.08× | ||
| Q1 24 | — | 1.19× |
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 | $188.0M | $616.9M |
| 自由现金流经营现金流 - 资本支出 | $53.0M | $370.9M |
| 自由现金流率自由现金流/营收 | 2.2% | 16.7% |
| 资本支出强度资本支出/营收 | 5.6% | 11.1% |
| 现金转化率经营现金流/净利润 | 0.74× | 1.23× |
| 过去12个月自由现金流最近4个季度 | $6.0M | $1.8B |
8季度趋势，按日历期对齐
经营现金流SEBSTZ
| Q4 25 | $188.0M | $616.9M | ||
| Q3 25 | $319.0M | $852.1M | ||
| Q2 25 | $81.0M | $637.2M | ||
| Q1 25 | $-20.0M | $594.7M | ||
| Q4 24 | $300.0M | $685.2M | ||
| Q3 24 | $194.0M | $1.2B | ||
| Q2 24 | $6.0M | $690.5M | ||
| Q1 24 | $19.0M | $433.2M |
自由现金流SEBSTZ
| Q4 25 | $53.0M | $370.9M | ||
| Q3 25 | $152.0M | $634.8M | ||
| Q2 25 | $-70.0M | $444.4M | ||
| Q1 25 | $-129.0M | $312.1M | ||
| Q4 24 | $162.0M | $456.8M | ||
| Q3 24 | $58.0M | $854.0M | ||
| Q2 24 | $-127.0M | $315.2M | ||
| Q1 24 | $-85.0M | $76.0M |
自由现金流率SEBSTZ
| Q4 25 | 2.2% | 16.7% | ||
| Q3 25 | 6.0% | 25.6% | ||
| Q2 25 | -2.8% | 17.7% | ||
| Q1 25 | -5.6% | 14.4% | ||
| Q4 24 | 6.5% | 18.5% | ||
| Q3 24 | 2.6% | 29.3% | ||
| Q2 24 | -5.7% | 11.8% | ||
| Q1 24 | -3.9% | 3.6% |
资本支出强度SEBSTZ
| Q4 25 | 5.6% | 11.1% | ||
| Q3 25 | 6.6% | 8.8% | ||
| Q2 25 | 6.1% | 7.7% | ||
| Q1 25 | 4.7% | 13.1% | ||
| Q4 24 | 5.6% | 9.3% | ||
| Q3 24 | 6.1% | 11.2% | ||
| Q2 24 | 6.0% | 14.1% | ||
| Q1 24 | 4.7% | 16.7% |
现金转化率SEBSTZ
| Q4 25 | 0.74× | 1.23× | ||
| Q3 25 | 2.90× | 1.83× | ||
| Q2 25 | 0.78× | 1.23× | ||
| Q1 25 | -0.63× | — | ||
| Q4 24 | 1.92× | 1.11× | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.10× | 0.79× | ||
| Q1 24 | 0.86× | 1.10× |
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
SEB
| Commodity Trading And Milling | $1.3B | 52% |
| Pork Segment | $469.0M | 19% |
| Marine | $444.0M | 18% |
| Other | $108.0M | 4% |
| Energy Service | $56.0M | 2% |
| Product And Service Other Services | $15.0M | 1% |
| Transportation | $6.0M | 0% |
STZ
| Beer | $2.0B | 90% |
| Constellation Wines And Spirits | $213.1M | 10% |
