vs
null（SWIM）与Turning Point Brands, Inc.（TPB）财务数据对比。点击上方公司名可切换其他公司
Turning Point Brands, Inc.的季度营收约是null的1.2倍（$121.0M vs $100.0M），Turning Point Brands, Inc.净利率更高（6.8% vs -7.0%，领先13.8%），Turning Point Brands, Inc.同比增速更快（29.2% vs 14.5%），Turning Point Brands, Inc.自由现金流更多（$21.5M vs $14.1M），过去两年Turning Point Brands, Inc.的营收复合增速更高（20.7% vs -4.9%）
该企业是一家源自美国的跨国律师事务所，1934年创立于加利福尼亚州洛杉矶，在诉讼业务、公司法务以及监管合规法律领域拥有深厚的行业积累与知名度，是全球颇具影响力的综合性律所之一。
Turning Point Australia（TPAUS）是一家位于澳大利亚的保守派游说团体，隶属于美国转折点组织但保持独立运营，由乔尔·贾马尔创立并于2023年完成注册。该团体目前正积极行动，试图影响2026年3月举行的南澳大利亚州选举结果。
SWIM vs TPB — 直观对比
营收规模更大
TPB
是对方的1.2倍
$100.0M
营收增速更快
TPB
高出14.7%
14.5%
净利率更高
TPB
高出13.8%
-7.0%
自由现金流更多
TPB
多$7.4M
$14.1M
两年增速更快
TPB
近两年复合增速
-4.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $100.0M | $121.0M |
| 净利润 | $-7.0M | $8.2M |
| 毛利率 | 28.0% | 55.9% |
| 营业利润率 | -10.7% | 16.5% |
| 净利率 | -7.0% | 6.8% |
| 营收同比 | 14.5% | 29.2% |
| 净利润同比 | 76.0% | 239.8% |
| 每股收益（稀释后） | $-0.06 | $0.40 |
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SWIMTPB
| Q4 25 | $100.0M | $121.0M | ||
| Q3 25 | $161.9M | $119.0M | ||
| Q2 25 | $172.6M | $116.6M | ||
| Q1 25 | $111.4M | $106.4M | ||
| Q4 24 | $87.3M | $93.7M | ||
| Q3 24 | $150.5M | $90.7M | ||
| Q2 24 | $160.1M | $93.2M | ||
| Q1 24 | $110.6M | $83.1M |
净利润SWIMTPB
| Q4 25 | $-7.0M | $8.2M | ||
| Q3 25 | $8.1M | $21.1M | ||
| Q2 25 | $16.0M | $14.5M | ||
| Q1 25 | $-6.0M | $14.4M | ||
| Q4 24 | $-29.2M | $2.4M | ||
| Q3 24 | $5.9M | $12.4M | ||
| Q2 24 | $13.3M | $13.0M | ||
| Q1 24 | $-7.9M | $12.0M |
毛利率SWIMTPB
| Q4 25 | 28.0% | 55.9% | ||
| Q3 25 | 35.4% | 59.2% | ||
| Q2 25 | 37.1% | 57.1% | ||
| Q1 25 | 29.5% | 56.0% | ||
| Q4 24 | 24.6% | 56.0% | ||
| Q3 24 | 32.4% | 55.6% | ||
| Q2 24 | 33.1% | 54.1% | ||
| Q1 24 | 27.7% | 58.2% |
营业利润率SWIMTPB
| Q4 25 | -10.7% | 16.5% | ||
| Q3 25 | 13.3% | 21.8% | ||
| Q2 25 | 14.3% | 22.6% | ||
| Q1 25 | -4.4% | 21.8% | ||
| Q4 24 | -14.9% | 19.1% | ||
| Q3 24 | 8.9% | 22.9% | ||
| Q2 24 | 12.5% | 24.5% | ||
| Q1 24 | -1.9% | 23.2% |
净利率SWIMTPB
| Q4 25 | -7.0% | 6.8% | ||
| Q3 25 | 5.0% | 17.7% | ||
| Q2 25 | 9.3% | 12.4% | ||
| Q1 25 | -5.4% | 13.5% | ||
| Q4 24 | -33.4% | 2.6% | ||
| Q3 24 | 3.9% | 13.6% | ||
| Q2 24 | 8.3% | 14.0% | ||
| Q1 24 | -7.1% | 14.5% |
每股收益（稀释后）SWIMTPB
| Q4 25 | $-0.06 | $0.40 | ||
| Q3 25 | $0.07 | $1.13 | ||
| Q2 25 | $0.13 | $0.79 | ||
| Q1 25 | $-0.05 | $0.79 | ||
| Q4 24 | $-0.24 | $0.15 | ||
| Q3 24 | $0.05 | $0.68 | ||
| Q2 24 | $0.11 | $0.68 | ||
| Q1 24 | $-0.07 | $0.63 |
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 | — | $222.8M |
| 总债务越低越好 | $279.8M | — |
| 股东权益账面价值 | $405.9M | $372.0M |
| 总资产 | $823.2M | $763.8M |
| 负债/权益比越低杠杆越低 | 0.69× | — |
8季度趋势，按日历期对齐
现金及短期投资SWIMTPB
| Q4 25 | — | $222.8M | ||
| Q3 25 | — | $201.2M | ||
| Q2 25 | — | $109.9M | ||
| Q1 25 | — | $99.6M | ||
| Q4 24 | — | $48.9M | ||
| Q3 24 | — | $33.6M | ||
| Q2 24 | — | $142.2M | ||
| Q1 24 | — | $130.9M |
总债务SWIMTPB
| Q4 25 | $279.8M | — | ||
| Q3 25 | $281.1M | — | ||
| Q2 25 | $281.5M | — | ||
| Q1 25 | $306.9M | — | ||
| Q4 24 | $281.5M | — | ||
| Q3 24 | $282.8M | — | ||
| Q2 24 | $282.4M | — | ||
| Q1 24 | $282.8M | — |
股东权益SWIMTPB
| Q4 25 | $405.9M | $372.0M | ||
| Q3 25 | $408.4M | $358.2M | ||
| Q2 25 | $398.4M | $224.8M | ||
| Q1 25 | $381.1M | $203.4M | ||
| Q4 24 | $387.2M | $190.4M | ||
| Q3 24 | $416.6M | $185.7M | ||
| Q2 24 | $408.1M | $172.8M | ||
| Q1 24 | $391.8M | $160.0M |
总资产SWIMTPB
| Q4 25 | $823.2M | $763.8M | ||
| Q3 25 | $844.4M | $742.8M | ||
| Q2 25 | $822.1M | $595.8M | ||
| Q1 25 | $824.6M | $564.6M | ||
| Q4 24 | $794.2M | $493.4M | ||
| Q3 24 | $853.4M | $488.0M | ||
| Q2 24 | $830.0M | $591.6M | ||
| Q1 24 | $808.6M | $586.3M |
负债/权益比SWIMTPB
| Q4 25 | 0.69× | — | ||
| Q3 25 | 0.69× | — | ||
| Q2 25 | 0.71× | — | ||
| Q1 25 | 0.81× | — | ||
| Q4 24 | 0.73× | — | ||
| Q3 24 | 0.68× | — | ||
| Q2 24 | 0.69× | — | ||
| Q1 24 | 0.72× | — |
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 | $23.3M | $24.9M |
| 自由现金流经营现金流 - 资本支出 | $14.1M | $21.5M |
| 自由现金流率自由现金流/营收 | 14.1% | 17.8% |
| 资本支出强度资本支出/营收 | 9.2% | 2.8% |
| 现金转化率经营现金流/净利润 | — | 3.03× |
| 过去12个月自由现金流最近4个季度 | $38.0M | $43.8M |
8季度趋势，按日历期对齐
经营现金流SWIMTPB
| Q4 25 | $23.3M | $24.9M | ||
| Q3 25 | $51.0M | $3.3M | ||
| Q2 25 | $36.0M | $11.8M | ||
| Q1 25 | $-46.9M | $17.4M | ||
| Q4 24 | $6.2M | $17.7M | ||
| Q3 24 | $37.2M | $13.2M | ||
| Q2 24 | $52.4M | $13.4M | ||
| Q1 24 | $-34.5M | $22.6M |
自由现金流SWIMTPB
| Q4 25 | $14.1M | $21.5M | ||
| Q3 25 | $45.2M | $-721.0K | ||
| Q2 25 | $29.1M | $7.8M | ||
| Q1 25 | $-50.3M | $15.2M | ||
| Q4 24 | $-98.0K | $16.6M | ||
| Q3 24 | $33.2M | $12.6M | ||
| Q2 24 | $47.9M | $10.9M | ||
| Q1 24 | $-39.9M | $22.3M |
自由现金流率SWIMTPB
| Q4 25 | 14.1% | 17.8% | ||
| Q3 25 | 27.9% | -0.6% | ||
| Q2 25 | 16.8% | 6.7% | ||
| Q1 25 | -45.2% | 14.3% | ||
| Q4 24 | -0.1% | 17.8% | ||
| Q3 24 | 22.1% | 13.9% | ||
| Q2 24 | 29.9% | 11.7% | ||
| Q1 24 | -36.0% | 26.8% |
资本支出强度SWIMTPB
| Q4 25 | 9.2% | 2.8% | ||
| Q3 25 | 3.6% | 3.4% | ||
| Q2 25 | 4.0% | 3.4% | ||
| Q1 25 | 3.1% | 2.1% | ||
| Q4 24 | 7.2% | 1.2% | ||
| Q3 24 | 2.7% | 0.7% | ||
| Q2 24 | 2.8% | 2.7% | ||
| Q1 24 | 4.8% | 0.4% |
现金转化率SWIMTPB
| Q4 25 | — | 3.03× | ||
| Q3 25 | 6.29× | 0.16× | ||
| Q2 25 | 2.25× | 0.82× | ||
| Q1 25 | — | 1.21× | ||
| Q4 24 | — | 7.34× | ||
| Q3 24 | 6.32× | 1.07× | ||
| Q2 24 | 3.95× | 1.03× | ||
| Q1 24 | — | 1.89× |
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
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
TPB
| US | $111.5M | 92% |
| Non Us | $9.6M | 8% |
