vs
Constellation Brands（STZ）与Wabtec（WAB）财务数据对比。点击上方公司名可切换其他公司
Wabtec的季度营收约是Constellation Brands的1.3倍（$3.0B vs $2.2B），Constellation Brands净利率更高（22.6% vs 12.3%，领先10.3%），Wabtec同比增速更快（13.0% vs -9.8%），过去两年Wabtec的营收复合增速更高（5.6% vs 1.9%）
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。
西屋空气制动技术公司（通称Wabtec）是美国知名轨道交通设备企业，1999年由西屋空气制动公司（WABCO）与动力设备厂商MotivePower合并组建，总部设于宾夕法尼亚州匹兹堡，在全球轨交制动系统、牵引动力设备等领域拥有领先的技术实力与市场份额。
STZ vs WAB — 直观对比
营收规模更大
WAB
是对方的1.3倍
$2.2B
营收增速更快
WAB
高出22.8%
-9.8%
净利率更高
STZ
高出10.3%
12.3%
两年增速更快
WAB
近两年复合增速
1.9%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.2B | $3.0B |
| 净利润 | $502.8M | $363.0M |
| 毛利率 | 53.2% | 36.0% |
| 营业利润率 | 31.1% | 17.5% |
| 净利率 | 22.6% | 12.3% |
| 营收同比 | -9.8% | 13.0% |
| 净利润同比 | -18.4% | 11.0% |
| 每股收益（稀释后） | — | $2.12 |
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STZWAB
| Q1 26 | — | $3.0B | ||
| Q4 25 | $2.2B | $3.0B | ||
| Q3 25 | $2.5B | $2.9B | ||
| Q2 25 | $2.5B | $2.7B | ||
| Q1 25 | $2.2B | $2.6B | ||
| Q4 24 | $2.5B | $2.6B | ||
| Q3 24 | $2.9B | $2.7B | ||
| Q2 24 | $2.7B | $2.6B |
净利润STZWAB
| Q1 26 | — | $363.0M | ||
| Q4 25 | $502.8M | $202.0M | ||
| Q3 25 | $466.0M | $310.0M | ||
| Q2 25 | $516.1M | $336.0M | ||
| Q1 25 | $-375.3M | $322.0M | ||
| Q4 24 | $615.9M | $212.0M | ||
| Q3 24 | $-1.2B | $283.0M | ||
| Q2 24 | $877.0M | $289.0M |
毛利率STZWAB
| Q1 26 | — | 36.0% | ||
| Q4 25 | 53.2% | 32.6% | ||
| Q3 25 | 52.8% | 34.7% | ||
| Q2 25 | 50.4% | 34.7% | ||
| Q1 25 | 51.5% | 34.5% | ||
| Q4 24 | 52.1% | 30.9% | ||
| Q3 24 | 51.8% | 33.0% | ||
| Q2 24 | 52.7% | 33.1% |
营业利润率STZWAB
| Q1 26 | — | 17.5% | ||
| Q4 25 | 31.1% | 12.0% | ||
| Q3 25 | 35.2% | 17.0% | ||
| Q2 25 | 28.4% | 17.4% | ||
| Q1 25 | -6.9% | 18.2% | ||
| Q4 24 | 32.2% | 12.9% | ||
| Q3 24 | -42.1% | 16.3% | ||
| Q2 24 | 35.4% | 16.3% |
净利率STZWAB
| Q1 26 | — | 12.3% | ||
| Q4 25 | 22.6% | 6.8% | ||
| Q3 25 | 18.8% | 10.7% | ||
| Q2 25 | 20.5% | 12.4% | ||
| Q1 25 | -17.3% | 12.3% | ||
| Q4 24 | 25.0% | 8.2% | ||
| Q3 24 | -41.1% | 10.6% | ||
| Q2 24 | 32.9% | 10.9% |
每股收益（稀释后）STZWAB
| Q1 26 | — | $2.12 | ||
| Q4 25 | — | $1.18 | ||
| Q3 25 | — | $1.81 | ||
| Q2 25 | — | $1.96 | ||
| Q1 25 | — | $1.88 | ||
| Q4 24 | — | $1.24 | ||
| Q3 24 | — | $1.63 | ||
| Q2 24 | — | $1.64 |
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 | $152.4M | — |
| 总债务越低越好 | $10.3B | $4.7B |
| 股东权益账面价值 | $7.7B | $11.1B |
| 总资产 | $21.7B | $23.2B |
| 负债/权益比越低杠杆越低 | 1.33× | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资STZWAB
| Q1 26 | — | — | ||
| Q4 25 | $152.4M | — | ||
| Q3 25 | $72.0M | — | ||
| Q2 25 | $73.9M | — | ||
| Q1 25 | $68.1M | — | ||
| Q4 24 | $73.7M | — | ||
| Q3 24 | $64.6M | — | ||
| Q2 24 | $73.8M | — |
总债务STZWAB
| Q1 26 | — | $4.7B | ||
| Q4 25 | $10.3B | $5.5B | ||
| Q3 25 | $10.3B | $5.3B | ||
| Q2 25 | $11.2B | $4.8B | ||
| Q1 25 | $10.7B | $4.0B | ||
| Q4 24 | $10.7B | $4.0B | ||
| Q3 24 | $11.1B | $4.0B | ||
| Q2 24 | $11.1B | $4.0B |
股东权益STZWAB
| Q1 26 | — | $11.1B | ||
| Q4 25 | $7.7B | $11.1B | ||
| Q3 25 | $7.5B | $11.0B | ||
| Q2 25 | $7.3B | $10.8B | ||
| Q1 25 | $6.9B | $10.4B | ||
| Q4 24 | $7.8B | $10.1B | ||
| Q3 24 | $7.9B | $10.3B | ||
| Q2 24 | $10.3B | $10.5B |
总资产STZWAB
| Q1 26 | — | $23.2B | ||
| Q4 25 | $21.7B | $22.1B | ||
| Q3 25 | $21.4B | $21.5B | ||
| Q2 25 | $22.3B | $20.4B | ||
| Q1 25 | $21.7B | $19.1B | ||
| Q4 24 | $22.8B | $18.7B | ||
| Q3 24 | $23.1B | $18.6B | ||
| Q2 24 | $26.1B | $18.9B |
负债/权益比STZWAB
| Q1 26 | — | 0.42× | ||
| Q4 25 | 1.33× | 0.50× | ||
| Q3 25 | 1.37× | 0.48× | ||
| Q2 25 | 1.54× | 0.44× | ||
| Q1 25 | 1.55× | 0.39× | ||
| Q4 24 | 1.37× | 0.39× | ||
| Q3 24 | 1.41× | 0.39× | ||
| Q2 24 | 1.08× | 0.38× |
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 | $616.9M | $199.0M |
| 自由现金流经营现金流 - 资本支出 | $370.9M | — |
| 自由现金流率自由现金流/营收 | 16.7% | — |
| 资本支出强度资本支出/营收 | 11.1% | — |
| 现金转化率经营现金流/净利润 | 1.23× | 0.55× |
| 过去12个月自由现金流最近4个季度 | $1.8B | — |
8季度趋势，按日历期对齐
经营现金流STZWAB
| Q1 26 | — | $199.0M | ||
| Q4 25 | $616.9M | $992.0M | ||
| Q3 25 | $852.1M | $367.0M | ||
| Q2 25 | $637.2M | $209.0M | ||
| Q1 25 | $594.7M | $191.0M | ||
| Q4 24 | $685.2M | $723.0M | ||
| Q3 24 | $1.2B | $542.0M | ||
| Q2 24 | $690.5M | $235.0M |
自由现金流STZWAB
| Q1 26 | — | — | ||
| Q4 25 | $370.9M | $870.0M | ||
| Q3 25 | $634.8M | $312.0M | ||
| Q2 25 | $444.4M | $170.0M | ||
| Q1 25 | $312.1M | $147.0M | ||
| Q4 24 | $456.8M | $639.0M | ||
| Q3 24 | $854.0M | $496.0M | ||
| Q2 24 | $315.2M | $189.0M |
自由现金流率STZWAB
| Q1 26 | — | — | ||
| Q4 25 | 16.7% | 29.3% | ||
| Q3 25 | 25.6% | 10.8% | ||
| Q2 25 | 17.7% | 6.3% | ||
| Q1 25 | 14.4% | 5.6% | ||
| Q4 24 | 18.5% | 24.7% | ||
| Q3 24 | 29.3% | 18.6% | ||
| Q2 24 | 11.8% | 7.1% |
资本支出强度STZWAB
| Q1 26 | — | — | ||
| Q4 25 | 11.1% | 4.1% | ||
| Q3 25 | 8.8% | 1.9% | ||
| Q2 25 | 7.7% | 1.4% | ||
| Q1 25 | 13.1% | 1.7% | ||
| Q4 24 | 9.3% | 3.3% | ||
| Q3 24 | 11.2% | 1.7% | ||
| Q2 24 | 14.1% | 1.7% |
现金转化率STZWAB
| Q1 26 | — | 0.55× | ||
| Q4 25 | 1.23× | 4.91× | ||
| Q3 25 | 1.83× | 1.18× | ||
| Q2 25 | 1.23× | 0.62× | ||
| Q1 25 | — | 0.59× | ||
| Q4 24 | 1.11× | 3.41× | ||
| Q3 24 | — | 1.92× | ||
| Q2 24 | 0.79× | 0.81× |
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
STZ
| Beer | $2.0B | 90% |
| Constellation Wines And Spirits | $213.1M | 10% |
WAB
暂无分部数据
