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SUBURBAN PROPANE PARTNERS LP（SPH）与Savers Value Village, Inc.（SVV）财务数据对比。点击上方公司名可切换其他公司
Savers Value Village, Inc.的季度营收约是SUBURBAN PROPANE PARTNERS LP的1.2倍（$426.9M vs $370.4M）。SUBURBAN PROPANE PARTNERS LP净利率更高（12.4% vs -3.3%，领先15.6%）。Savers Value Village, Inc.同比增速更快（8.1% vs -0.8%）。Savers Value Village, Inc.自由现金流更多（$-6.3M vs $-67.5M）。过去两年Savers Value Village, Inc.的营收复合增速更高（4.3% vs -13.8%）
Suburban Propane Partners LP是美国领先的丙烷、天然气、取暖油及相关能源产品分销商，服务覆盖住宅、商业、工业、农业等各类客户，同时提供暖通空调系统的安装、维护与维修服务，业务范围遍布全美。
Savers Value Village是美国中西部的折扣百货连锁品牌，由原伍尔沃斯公司的亨利·霍尼创立，1961年开业，运营至1989年，业务覆盖威斯康星州、伊利诺伊州两地。霍尼同时经营房地产业务，常于折扣店旁配套建设小型购物中心。
SPH vs SVV — 直观对比
损益表 — Q1 2026 vs Q3 2026
| 指标 | | |
|---|---|---|
| 营收 | $370.4M | $426.9M |
| 净利润 | $45.8M | $-14.0M |
| 毛利率 | 64.7% | — |
| 营业利润率 | 18.3% | 8.5% |
| 净利率 | 12.4% | -3.3% |
| 营收同比 | -0.8% | 8.1% |
| 净利润同比 | 135.7% | -164.6% |
| 每股收益（稀释后） | $0.69 | $-0.09 |
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
| Q4 25 | $370.4M | — | ||
| Q3 25 | $211.4M | $426.9M | ||
| Q2 25 | $260.1M | $417.2M | ||
| Q1 25 | $587.7M | $370.1M | ||
| Q4 24 | $373.3M | $402.0M | ||
| Q3 24 | $208.6M | $394.8M | ||
| Q2 24 | $254.6M | $386.7M | ||
| Q1 24 | $498.1M | $354.2M |
| Q4 25 | $45.8M | — | ||
| Q3 25 | $-35.1M | $-14.0M | ||
| Q2 25 | $-14.8M | $18.9M | ||
| Q1 25 | $137.1M | $-4.7M | ||
| Q4 24 | $19.4M | $-1.9M | ||
| Q3 24 | $-44.6M | $21.7M | ||
| Q2 24 | $-17.2M | $9.7M | ||
| Q1 24 | $111.5M | $-467.0K |
| Q4 25 | 64.7% | — | ||
| Q3 25 | 64.7% | — | ||
| Q2 25 | 61.7% | — | ||
| Q1 25 | 58.8% | — | ||
| Q4 24 | 60.6% | — | ||
| Q3 24 | 59.4% | 25.6% | ||
| Q2 24 | 62.9% | 26.6% | ||
| Q1 24 | 61.8% | 24.2% |
| Q4 25 | 18.3% | — | ||
| Q3 25 | -7.9% | 8.5% | ||
| Q2 25 | 2.1% | 8.2% | ||
| Q1 25 | 27.0% | 2.8% | ||
| Q4 24 | 15.8% | 8.2% | ||
| Q3 24 | -10.8% | 12.3% | ||
| Q2 24 | 3.2% | 8.3% | ||
| Q1 24 | 27.5% | 4.6% |
| Q4 25 | 12.4% | — | ||
| Q3 25 | -16.6% | -3.3% | ||
| Q2 25 | -5.7% | 4.5% | ||
| Q1 25 | 23.3% | -1.3% | ||
| Q4 24 | 5.2% | -0.5% | ||
| Q3 24 | -21.4% | 5.5% | ||
| Q2 24 | -6.8% | 2.5% | ||
| Q1 24 | 22.4% | -0.1% |
| Q4 25 | $0.69 | — | ||
| Q3 25 | $-0.55 | $-0.09 | ||
| Q2 25 | $-0.23 | $0.12 | ||
| Q1 25 | $2.10 | $-0.03 | ||
| Q4 24 | $0.30 | $-0.02 | ||
| Q3 24 | $-0.69 | $0.13 | ||
| Q2 24 | $-0.27 | $0.06 | ||
| Q1 24 | $1.72 | $0.00 |
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 | $1.3M | $63.5M |
| 总债务越低越好 | $1.3B | $750.0M |
| 股东权益账面价值 | — | $414.6M |
| 总资产 | $2.4B | $2.0B |
| 负债/权益比越低杠杆越低 | — | 1.81× |
8季度趋势，按日历期对齐
| Q4 25 | $1.3M | — | ||
| Q3 25 | $405.0K | $63.5M | ||
| Q2 25 | $1.3M | $70.5M | ||
| Q1 25 | $3.9M | $73.0M | ||
| Q4 24 | $4.4M | $150.0M | ||
| Q3 24 | $3.2M | $137.7M | ||
| Q2 24 | $4.9M | $160.7M | ||
| Q1 24 | $4.4M | $102.2M |
| Q4 25 | $1.3B | — | ||
| Q3 25 | $1.2B | $750.0M | ||
| Q2 25 | $1.2B | — | ||
| Q1 25 | $1.3B | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.2B | — | ||
| Q1 24 | $1.2B | — |
| Q4 25 | — | — | ||
| Q3 25 | — | $414.6M | ||
| Q2 25 | — | $423.5M | ||
| Q1 25 | — | $413.8M | ||
| Q4 24 | — | $421.7M | ||
| Q3 24 | — | $432.9M | ||
| Q2 24 | — | $419.5M | ||
| Q1 24 | — | $395.0M |
| Q4 25 | $2.4B | — | ||
| Q3 25 | $2.3B | $2.0B | ||
| Q2 25 | $2.3B | $1.9B | ||
| Q1 25 | $2.4B | $1.9B | ||
| Q4 24 | $2.4B | $1.9B | ||
| Q3 24 | $2.3B | $1.9B | ||
| Q2 24 | $2.3B | $1.9B | ||
| Q1 24 | $2.3B | $1.8B |
| Q4 25 | — | — | ||
| Q3 25 | — | 1.81× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $-47.7M | $21.6M |
| 自由现金流经营现金流 - 资本支出 | $-67.5M | $-6.3M |
| 自由现金流率自由现金流/营收 | -18.2% | -1.5% |
| 资本支出强度资本支出/营收 | 5.3% | 6.5% |
| 现金转化率经营现金流/净利润 | -1.04× | — |
| 过去12个月自由现金流最近4个季度 | $61.9M | $25.5M |
8季度趋势，按日历期对齐
| Q4 25 | $-47.7M | — | ||
| Q3 25 | $41.8M | $21.6M | ||
| Q2 25 | $95.5M | $54.4M | ||
| Q1 25 | $40.1M | $419.0K | ||
| Q4 24 | $8.8M | $55.8M | ||
| Q3 24 | $36.8M | $23.9M | ||
| Q2 24 | $61.4M | $60.4M | ||
| Q1 24 | $75.1M | $-5.8M |
| Q4 25 | $-67.5M | — | ||
| Q3 25 | $27.7M | $-6.3M | ||
| Q2 25 | $80.9M | $21.9M | ||
| Q1 25 | $20.8M | $-20.2M | ||
| Q4 24 | $-15.1M | $30.1M | ||
| Q3 24 | $17.7M | $-3.0M | ||
| Q2 24 | $46.8M | $29.6M | ||
| Q1 24 | $60.6M | $-28.3M |
| Q4 25 | -18.2% | — | ||
| Q3 25 | 13.1% | -1.5% | ||
| Q2 25 | 31.1% | 5.2% | ||
| Q1 25 | 3.5% | -5.4% | ||
| Q4 24 | -4.0% | 7.5% | ||
| Q3 24 | 8.5% | -0.8% | ||
| Q2 24 | 18.4% | 7.6% | ||
| Q1 24 | 12.2% | -8.0% |
| Q4 25 | 5.3% | — | ||
| Q3 25 | 6.7% | 6.5% | ||
| Q2 25 | 5.6% | 7.8% | ||
| Q1 25 | 3.3% | 5.6% | ||
| Q4 24 | 6.4% | 6.4% | ||
| Q3 24 | 9.1% | 6.8% | ||
| Q2 24 | 5.8% | 8.0% | ||
| Q1 24 | 2.9% | 6.4% |
| Q4 25 | -1.04× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 2.88× | ||
| Q1 25 | 0.29× | — | ||
| Q4 24 | 0.45× | — | ||
| Q3 24 | — | 1.10× | ||
| Q2 24 | — | 6.22× | ||
| Q1 24 | 0.67× | — |
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
SPH
| Propane | $326.4M | 88% |
| Other Sales Revenue Net | $19.9M | 5% |
| Fuel Oil And Refined Fuels | $18.2M | 5% |
| Natural Gas And Electricity | $5.9M | 2% |
| Wholesale | $4.1M | 1% |
SVV
| Sales Channel Directly To Consumer | $408.3M | 96% |
| Sales Channel Through Intermediary | $18.6M | 4% |
