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泰佩思琦（TPR）与Williams Companies（WMB）财务数据对比。点击上方公司名可切换其他公司
Williams Companies的季度营收约是泰佩思琦的1.5倍（$3.8B vs $2.5B），泰佩思琦净利率更高（22.4% vs 19.1%，领先3.3%），泰佩思琦同比增速更快（14.0% vs 12.7%），泰佩思琦自由现金流更多（$1.0B vs $-379.0M），过去两年泰佩思琦的营收复合增速更高（29.9% vs 7.3%）
Tapestry, Inc.是美国知名跨国奢侈品时尚控股企业，旗下拥有Coach、Kate Spade New York、Stuart Weitzman三大标志性生活方式品牌，主营高端手袋、服饰、鞋履、配饰及香水产品，销售渠道覆盖全球线下门店与线上电商平台。
总部位于美国俄克拉荷马州塔尔萨的能源企业，位列《财富》美国500强，普通股为标普500指数成分股，核心业务为天然气加工与运输，同时持有石油、发电相关资产。
TPR vs WMB — 直观对比
营收规模更大
WMB
是对方的1.5倍
$2.5B
营收增速更快
TPR
高出1.3%
12.7%
净利率更高
TPR
高出3.3%
19.1%
自由现金流更多
TPR
多$1.4B
$-379.0M
两年增速更快
TPR
近两年复合增速
7.3%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.5B | $3.8B |
| 净利润 | $561.3M | $734.0M |
| 毛利率 | 75.5% | — |
| 营业利润率 | 28.6% | 27.3% |
| 净利率 | 22.4% | 19.1% |
| 营收同比 | 14.0% | 12.7% |
| 净利润同比 | 80.8% | 51.0% |
| 每股收益（稀释后） | $2.68 | $0.60 |
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TPRWMB
| Q4 25 | $2.5B | $3.8B | ||
| Q3 25 | $1.7B | $3.5B | ||
| Q2 25 | $1.7B | $3.4B | ||
| Q1 25 | $1.6B | $4.2B | ||
| Q4 24 | $2.2B | $3.4B | ||
| Q3 24 | $1.5B | $3.0B | ||
| Q2 24 | $1.6B | $2.8B | ||
| Q1 24 | $1.5B | $3.3B |
净利润TPRWMB
| Q4 25 | $561.3M | $734.0M | ||
| Q3 25 | $274.8M | $647.0M | ||
| Q2 25 | $-517.1M | $546.0M | ||
| Q1 25 | $203.3M | $691.0M | ||
| Q4 24 | $310.4M | $486.0M | ||
| Q3 24 | $186.6M | $706.0M | ||
| Q2 24 | $159.3M | $401.0M | ||
| Q1 24 | $139.4M | $632.0M |
毛利率TPRWMB
| Q4 25 | 75.5% | — | ||
| Q3 25 | 76.3% | — | ||
| Q2 25 | 76.3% | — | ||
| Q1 25 | 76.1% | — | ||
| Q4 24 | 74.4% | — | ||
| Q3 24 | 75.3% | — | ||
| Q2 24 | 74.9% | — | ||
| Q1 24 | 74.7% | — |
营业利润率TPRWMB
| Q4 25 | 28.6% | 27.3% | ||
| Q3 25 | 19.3% | 31.8% | ||
| Q2 25 | -33.9% | 28.0% | ||
| Q1 25 | 16.0% | 26.1% | ||
| Q4 24 | 22.4% | 23.2% | ||
| Q3 24 | 16.7% | 27.6% | ||
| Q2 24 | 14.8% | 24.4% | ||
| Q1 24 | 13.8% | 30.3% |
净利率TPRWMB
| Q4 25 | 22.4% | 19.1% | ||
| Q3 25 | 16.1% | 18.5% | ||
| Q2 25 | -30.0% | 16.2% | ||
| Q1 25 | 12.8% | 16.5% | ||
| Q4 24 | 14.1% | 14.2% | ||
| Q3 24 | 12.4% | 23.3% | ||
| Q2 24 | 10.0% | 14.1% | ||
| Q1 24 | 9.4% | 18.9% |
每股收益（稀释后）TPRWMB
| Q4 25 | $2.68 | $0.60 | ||
| Q3 25 | $1.28 | $0.53 | ||
| Q2 25 | $-2.30 | $0.45 | ||
| Q1 25 | $0.95 | $0.56 | ||
| Q4 24 | $1.38 | $0.39 | ||
| Q3 24 | $0.79 | $0.58 | ||
| Q2 24 | $0.67 | $0.33 | ||
| Q1 24 | $0.60 | $0.52 |
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 | $1.1B | — |
| 总债务越低越好 | $2.4B | $27.3B |
| 股东权益账面价值 | $551.2M | $12.8B |
| 总资产 | $6.5B | $58.6B |
| 负债/权益比越低杠杆越低 | 4.32× | 2.13× |
8季度趋势，按日历期对齐
现金及短期投资TPRWMB
| Q4 25 | $1.1B | — | ||
| Q3 25 | $743.2M | — | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $1.0B | — | ||
| Q3 24 | $7.3B | — | ||
| Q2 24 | $7.2B | — | ||
| Q1 24 | $7.4B | — |
总债务TPRWMB
| Q4 25 | $2.4B | $27.3B | ||
| Q3 25 | $2.4B | $25.6B | ||
| Q2 25 | $2.4B | $25.6B | ||
| Q1 25 | $2.4B | $24.1B | ||
| Q4 24 | $2.4B | $24.7B | ||
| Q3 24 | $7.0B | $24.8B | ||
| Q2 24 | $6.9B | $24.1B | ||
| Q1 24 | $7.7B | $24.1B |
股东权益TPRWMB
| Q4 25 | $551.2M | $12.8B | ||
| Q3 25 | $399.5M | $12.5B | ||
| Q2 25 | $857.8M | $12.4B | ||
| Q1 25 | $1.5B | $12.5B | ||
| Q4 24 | $1.3B | $12.4B | ||
| Q3 24 | $3.0B | $12.4B | ||
| Q2 24 | $2.9B | $12.3B | ||
| Q1 24 | $2.8B | $12.4B |
总资产TPRWMB
| Q4 25 | $6.5B | $58.6B | ||
| Q3 25 | $6.4B | $55.7B | ||
| Q2 25 | $6.6B | $56.1B | ||
| Q1 25 | $7.3B | $54.9B | ||
| Q4 24 | $7.3B | $54.5B | ||
| Q3 24 | $13.7B | $53.8B | ||
| Q2 24 | $13.4B | $52.4B | ||
| Q1 24 | $13.7B | $52.7B |
负债/权益比TPRWMB
| Q4 25 | 4.32× | 2.13× | ||
| Q3 25 | 5.95× | 2.04× | ||
| Q2 25 | 2.77× | 2.06× | ||
| Q1 25 | 1.59× | 1.93× | ||
| Q4 24 | 1.78× | 1.99× | ||
| Q3 24 | 2.35× | 2.00× | ||
| Q2 24 | 2.39× | 1.96× | ||
| Q1 24 | 2.77× | 1.94× |
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 | $1.1B | $1.6B |
| 自由现金流经营现金流 - 资本支出 | $1.0B | $-379.0M |
| 自由现金流率自由现金流/营收 | 41.5% | -9.9% |
| 资本支出强度资本支出/营收 | 1.7% | 50.9% |
| 现金转化率经营现金流/净利润 | 1.93× | 2.15× |
| 过去12个月自由现金流最近4个季度 | $1.6B | $1.0B |
8季度趋势，按日历期对齐
经营现金流TPRWMB
| Q4 25 | $1.1B | $1.6B | ||
| Q3 25 | $112.6M | $1.4B | ||
| Q2 25 | $446.8M | $1.4B | ||
| Q1 25 | $144.3M | $1.4B | ||
| Q4 24 | $506.0M | $1.2B | ||
| Q3 24 | $119.5M | $1.2B | ||
| Q2 24 | $256.0M | $1.3B | ||
| Q1 24 | $97.8M | $1.2B |
自由现金流TPRWMB
| Q4 25 | $1.0B | $-379.0M | ||
| Q3 25 | $80.2M | $485.0M | ||
| Q2 25 | $411.5M | $478.0M | ||
| Q1 25 | $113.4M | $421.0M | ||
| Q4 24 | $475.1M | $450.0M | ||
| Q3 24 | $93.9M | $561.0M | ||
| Q2 24 | $209.8M | $700.0M | ||
| Q1 24 | $78.8M | $690.0M |
自由现金流率TPRWMB
| Q4 25 | 41.5% | -9.9% | ||
| Q3 25 | 4.7% | 13.9% | ||
| Q2 25 | 23.9% | 14.2% | ||
| Q1 25 | 7.2% | 10.1% | ||
| Q4 24 | 21.6% | 13.2% | ||
| Q3 24 | 6.2% | 18.5% | ||
| Q2 24 | 13.2% | 24.6% | ||
| Q1 24 | 5.3% | 20.7% |
资本支出强度TPRWMB
| Q4 25 | 1.7% | 50.9% | ||
| Q3 25 | 1.9% | 27.3% | ||
| Q2 25 | 2.0% | 28.8% | ||
| Q1 25 | 2.0% | 24.2% | ||
| Q4 24 | 1.4% | 22.5% | ||
| Q3 24 | 1.7% | 22.5% | ||
| Q2 24 | 2.9% | 20.3% | ||
| Q1 24 | 1.3% | 16.3% |
现金转化率TPRWMB
| Q4 25 | 1.93× | 2.15× | ||
| Q3 25 | 0.41× | 2.22× | ||
| Q2 25 | — | 2.66× | ||
| Q1 25 | 0.71× | 2.07× | ||
| Q4 24 | 1.63× | 2.51× | ||
| Q3 24 | 0.64× | 1.76× | ||
| Q2 24 | 1.61× | 3.19× | ||
| Q1 24 | 0.70× | 1.95× |
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
TPR
| Coach | $1.4B | 57% |
| Other | $787.0M | 31% |
| Kate Spade Company | $290.0M | 12% |
WMB
| Services | $2.2B | 57% |
| Natural Gas Us Regulated | $740.0M | 19% |
| West | $730.0M | 19% |
| Non Regulated Service Commodity Consideration | $51.0M | 1% |
| Natural Gas Gathering Transportation Marketing And Processing | $45.0M | 1% |
| Affiliated Entity | $23.0M | 1% |
| Other | $14.0M | 0% |
| Other Service | $11.0M | 0% |
