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Tractor Supply（TSCO）与Wabtec（WAB）财务数据对比。点击上方公司名可切换其他公司
Tractor Supply的季度营收约是Wabtec的1.2倍（$3.6B vs $3.0B），Wabtec净利率更高（12.3% vs 4.6%，领先7.7%），Tractor Supply同比增速更快（100.0% vs 13.0%），过去两年Wabtec的营收复合增速更高（5.6% vs -8.0%）
Tractor Supply Company成立于1938年，是美国连锁零售企业，主营家居装修、农业、园艺养护、牲畜、马术及宠物护理相关设备与用品，客群覆盖农民、牧场主、宠物主及土地所有者。截至2024年共开设2250家门店，总部位于田纳西州布伦特伍德，为纳斯达克上市的财富500强企业。
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。
TSCO vs WAB — 直观对比
营收规模更大
TSCO
是对方的1.2倍
$3.0B
营收增速更快
TSCO
高出87.0%
13.0%
净利率更高
WAB
高出7.7%
4.6%
两年增速更快
WAB
近两年复合增速
-8.0%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.6B | $3.0B |
| 净利润 | $164.5M | $363.0M |
| 毛利率 | 36.2% | 36.0% |
| 营业利润率 | 6.5% | 17.5% |
| 净利率 | 4.6% | 12.3% |
| 营收同比 | 100.0% | 13.0% |
| 净利润同比 | 4.6% | 11.0% |
| 每股收益（稀释后） | $0.31 | $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TSCOWAB
| Q1 26 | $3.6B | $3.0B | ||
| Q4 25 | $3.9B | $3.0B | ||
| Q3 25 | $3.7B | $2.9B | ||
| Q2 25 | $4.4B | $2.7B | ||
| Q1 25 | $3.5B | $2.6B | ||
| Q4 24 | $3.8B | $2.6B | ||
| Q3 24 | $3.5B | $2.7B | ||
| Q2 24 | $4.2B | $2.6B |
净利润TSCOWAB
| Q1 26 | $164.5M | $363.0M | ||
| Q4 25 | $227.4M | $202.0M | ||
| Q3 25 | $259.3M | $310.0M | ||
| Q2 25 | $430.0M | $336.0M | ||
| Q1 25 | $179.4M | $322.0M | ||
| Q4 24 | $236.4M | $212.0M | ||
| Q3 24 | $241.5M | $283.0M | ||
| Q2 24 | $425.2M | $289.0M |
毛利率TSCOWAB
| Q1 26 | 36.2% | 36.0% | ||
| Q4 25 | 35.1% | 32.6% | ||
| Q3 25 | 37.4% | 34.7% | ||
| Q2 25 | 36.9% | 34.7% | ||
| Q1 25 | 36.2% | 34.5% | ||
| Q4 24 | 35.2% | 30.9% | ||
| Q3 24 | 37.2% | 33.0% | ||
| Q2 24 | 36.6% | 33.1% |
营业利润率TSCOWAB
| Q1 26 | 6.5% | 17.5% | ||
| Q4 25 | 7.6% | 12.0% | ||
| Q3 25 | 9.2% | 17.0% | ||
| Q2 25 | 13.0% | 17.4% | ||
| Q1 25 | 7.2% | 18.2% | ||
| Q4 24 | 8.4% | 12.9% | ||
| Q3 24 | 9.4% | 16.3% | ||
| Q2 24 | 13.2% | 16.3% |
净利率TSCOWAB
| Q1 26 | 4.6% | 12.3% | ||
| Q4 25 | 5.8% | 6.8% | ||
| Q3 25 | 7.0% | 10.7% | ||
| Q2 25 | 9.7% | 12.4% | ||
| Q1 25 | 5.2% | 12.3% | ||
| Q4 24 | 6.3% | 8.2% | ||
| Q3 24 | 7.0% | 10.6% | ||
| Q2 24 | 10.0% | 10.9% |
每股收益（稀释后）TSCOWAB
| Q1 26 | $0.31 | $2.12 | ||
| Q4 25 | $0.42 | $1.18 | ||
| Q3 25 | $0.49 | $1.81 | ||
| Q2 25 | $0.81 | $1.96 | ||
| Q1 25 | $0.34 | $1.88 | ||
| Q4 24 | $-5.96 | $1.24 | ||
| Q3 24 | $2.24 | $1.63 | ||
| Q2 24 | $3.93 | $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 | $224.3M | — |
| 总债务越低越好 | $2.1B | $4.7B |
| 股东权益账面价值 | $2.5B | $11.1B |
| 总资产 | $11.7B | $23.2B |
| 负债/权益比越低杠杆越低 | 0.85× | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资TSCOWAB
| Q1 26 | $224.3M | — | ||
| Q4 25 | $194.1M | — | ||
| Q3 25 | $184.6M | — | ||
| Q2 25 | $225.8M | — | ||
| Q1 25 | $231.7M | — | ||
| Q4 24 | $251.5M | — | ||
| Q3 24 | $186.3M | — | ||
| Q2 24 | $394.7M | — |
总债务TSCOWAB
| Q1 26 | $2.1B | $4.7B | ||
| Q4 25 | $150.0M | $5.5B | ||
| Q3 25 | — | $5.3B | ||
| Q2 25 | — | $4.8B | ||
| Q1 25 | — | $4.0B | ||
| Q4 24 | $150.0M | $4.0B | ||
| Q3 24 | — | $4.0B | ||
| Q2 24 | — | $4.0B |
股东权益TSCOWAB
| Q1 26 | $2.5B | $11.1B | ||
| Q4 25 | $2.6B | $11.1B | ||
| Q3 25 | $2.6B | $11.0B | ||
| Q2 25 | $2.5B | $10.8B | ||
| Q1 25 | $2.2B | $10.4B | ||
| Q4 24 | $2.3B | $10.1B | ||
| Q3 24 | $2.3B | $10.3B | ||
| Q2 24 | $2.3B | $10.5B |
总资产TSCOWAB
| Q1 26 | $11.7B | $23.2B | ||
| Q4 25 | $10.9B | $22.1B | ||
| Q3 25 | $10.9B | $21.5B | ||
| Q2 25 | $10.6B | $20.4B | ||
| Q1 25 | $10.4B | $19.1B | ||
| Q4 24 | $9.8B | $18.7B | ||
| Q3 24 | $9.8B | $18.6B | ||
| Q2 24 | $9.8B | $18.9B |
负债/权益比TSCOWAB
| Q1 26 | 0.85× | 0.42× | ||
| Q4 25 | 0.06× | 0.50× | ||
| Q3 25 | — | 0.48× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.39× | ||
| Q4 24 | 0.07× | 0.39× | ||
| Q3 24 | — | 0.39× | ||
| Q2 24 | — | 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 | $91.1M | $199.0M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | 5.6% | — |
| 现金转化率经营现金流/净利润 | 0.55× | 0.55× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流TSCOWAB
| Q1 26 | $91.1M | $199.0M | ||
| Q4 25 | $324.8M | $992.0M | ||
| Q3 25 | $307.9M | $367.0M | ||
| Q2 25 | $785.8M | $209.0M | ||
| Q1 25 | $216.8M | $191.0M | ||
| Q4 24 | $517.2M | $723.0M | ||
| Q3 24 | $86.3M | $542.0M | ||
| Q2 24 | $559.9M | $235.0M |
自由现金流TSCOWAB
| Q1 26 | — | — | ||
| Q4 25 | $59.3M | $870.0M | ||
| Q3 25 | $30.3M | $312.0M | ||
| Q2 25 | $575.4M | $170.0M | ||
| Q1 25 | $75.5M | $147.0M | ||
| Q4 24 | $271.2M | $639.0M | ||
| Q3 24 | $-101.9M | $496.0M | ||
| Q2 24 | $367.3M | $189.0M |
自由现金流率TSCOWAB
| Q1 26 | — | — | ||
| Q4 25 | 1.5% | 29.3% | ||
| Q3 25 | 0.8% | 10.8% | ||
| Q2 25 | 13.0% | 6.3% | ||
| Q1 25 | 2.2% | 5.6% | ||
| Q4 24 | 7.2% | 24.7% | ||
| Q3 24 | -2.9% | 18.6% | ||
| Q2 24 | 8.6% | 7.1% |
资本支出强度TSCOWAB
| Q1 26 | 5.6% | — | ||
| Q4 25 | 6.8% | 4.1% | ||
| Q3 25 | 7.5% | 1.9% | ||
| Q2 25 | 4.7% | 1.4% | ||
| Q1 25 | 4.1% | 1.7% | ||
| Q4 24 | 6.5% | 3.3% | ||
| Q3 24 | 5.4% | 1.7% | ||
| Q2 24 | 4.5% | 1.7% |
现金转化率TSCOWAB
| Q1 26 | 0.55× | 0.55× | ||
| Q4 25 | 1.43× | 4.91× | ||
| Q3 25 | 1.19× | 1.18× | ||
| Q2 25 | 1.83× | 0.62× | ||
| Q1 25 | 1.21× | 0.59× | ||
| Q4 24 | 2.19× | 3.41× | ||
| Q3 24 | 0.36× | 1.92× | ||
| Q2 24 | 1.32× | 0.81× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
