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Tennessee Valley Authority（TVE）与Ulta Beauty（ULTA）财务数据对比。点击上方公司名可切换其他公司
Tennessee Valley Authority的季度营收约是Ulta Beauty的1.1倍（$3.0B vs $2.9B），Tennessee Valley Authority净利率更高（8.7% vs 8.1%，领先0.6%），Ulta Beauty同比增速更快（12.9% vs 4.4%），Ulta Beauty自由现金流更多（$-81.6M vs $-814.0M），过去两年Ulta Beauty的营收复合增速更高（7.2% vs -1.7%）
田纳西河流域管理局（TVA）是美国联邦政府所有的电力公用事业企业，服务范围覆盖田纳西州全境，以及阿拉巴马州、密西西比州、肯塔基州的部分区域，还涵盖佐治亚州、北卡罗来纳州、弗吉尼亚州的小块区域。该企业虽归属联邦政府，但不依赖纳税人资金运营，运营模式与私营盈利企业类似，总部位于田纳西州诺克斯维尔。
Ulta Beauty是美国头部美妆连锁品牌，总部位于伊利诺伊州博林布鲁克，旗下门店在售商品覆盖高低端彩妆、香水、美甲、身体护理、美发产品及美妆工具等全品类美妆个护产品，每家门店均配备对外开放的美容沙龙，为消费者提供一站式美妆消费及服务体验。
TVE vs ULTA — 直观对比
营收规模更大
TVE
是对方的1.1倍
$2.9B
营收增速更快
ULTA
高出8.5%
4.4%
净利率更高
TVE
高出0.6%
8.1%
自由现金流更多
ULTA
多$732.4M
$-814.0M
两年增速更快
ULTA
近两年复合增速
-1.7%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.0B | $2.9B |
| 净利润 | $266.0M | $230.9M |
| 毛利率 | — | 40.4% |
| 营业利润率 | 18.1% | 10.8% |
| 净利率 | 8.7% | 8.1% |
| 营收同比 | 4.4% | 12.9% |
| 净利润同比 | 112.8% | -4.7% |
| 每股收益（稀释后） | — | $5.14 |
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TVEULTA
| Q4 25 | $3.0B | $2.9B | ||
| Q3 25 | $3.9B | $2.8B | ||
| Q2 25 | $3.3B | $2.8B | ||
| Q1 25 | $3.5B | — | ||
| Q4 24 | $2.9B | $2.5B | ||
| Q3 24 | $3.5B | $2.6B | ||
| Q2 24 | $2.9B | $2.7B | ||
| Q1 24 | $3.2B | $3.6B |
净利润TVEULTA
| Q4 25 | $266.0M | $230.9M | ||
| Q3 25 | $615.0M | $260.9M | ||
| Q2 25 | $212.0M | $305.1M | ||
| Q1 25 | $408.0M | — | ||
| Q4 24 | $125.0M | $242.2M | ||
| Q3 24 | $520.0M | $252.6M | ||
| Q2 24 | $181.0M | $313.1M | ||
| Q1 24 | $307.0M | $394.4M |
毛利率TVEULTA
| Q4 25 | — | 40.4% | ||
| Q3 25 | — | 39.2% | ||
| Q2 25 | — | 39.1% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 39.7% | ||
| Q3 24 | — | 38.3% | ||
| Q2 24 | — | 39.2% | ||
| Q1 24 | — | 37.7% |
营业利润率TVEULTA
| Q4 25 | 18.1% | 10.8% | ||
| Q3 25 | 23.6% | 12.4% | ||
| Q2 25 | 15.6% | 14.1% | ||
| Q1 25 | 20.3% | — | ||
| Q4 24 | 14.1% | 12.6% | ||
| Q3 24 | 22.7% | 12.9% | ||
| Q2 24 | 15.9% | 14.7% | ||
| Q1 24 | 18.4% | 14.5% |
净利率TVEULTA
| Q4 25 | 8.7% | 8.1% | ||
| Q3 25 | 15.7% | 9.4% | ||
| Q2 25 | 6.4% | 10.7% | ||
| Q1 25 | 11.6% | — | ||
| Q4 24 | 4.3% | 9.6% | ||
| Q3 24 | 14.8% | 9.9% | ||
| Q2 24 | 6.3% | 11.5% | ||
| Q1 24 | 9.7% | 11.1% |
每股收益（稀释后）TVEULTA
| Q4 25 | — | $5.14 | ||
| Q3 25 | — | $5.78 | ||
| Q2 25 | — | $6.70 | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $5.14 | ||
| Q3 24 | — | $5.30 | ||
| Q2 24 | — | $6.47 | ||
| Q1 24 | — | $8.06 |
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 | $501.0M | $204.9M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $2.6B |
| 总资产 | $59.5B | $7.0B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资TVEULTA
| Q4 25 | $501.0M | $204.9M | ||
| Q3 25 | $1.6B | $242.7M | ||
| Q2 25 | $501.0M | $454.6M | ||
| Q1 25 | $502.0M | — | ||
| Q4 24 | $507.0M | $177.8M | ||
| Q3 24 | $502.0M | $414.0M | ||
| Q2 24 | $501.0M | $524.6M | ||
| Q1 24 | $508.0M | $766.6M |
总债务TVEULTA
| Q4 25 | — | — | ||
| Q3 25 | $22.1B | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $19.1B | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益TVEULTA
| Q4 25 | — | $2.6B | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | — | $2.4B | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $2.3B | ||
| Q3 24 | — | $2.3B | ||
| Q2 24 | — | $2.3B | ||
| Q1 24 | — | $2.3B |
总资产TVEULTA
| Q4 25 | $59.5B | $7.0B | ||
| Q3 25 | $60.9B | $6.6B | ||
| Q2 25 | $59.9B | $6.0B | ||
| Q1 25 | $59.3B | — | ||
| Q4 24 | $58.4B | $6.0B | ||
| Q3 24 | $57.7B | $5.7B | ||
| Q2 24 | $56.2B | $5.6B | ||
| Q1 24 | $52.3B | $5.7B |
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 | $330.0M | $5.6M |
| 自由现金流经营现金流 - 资本支出 | $-814.0M | $-81.6M |
| 自由现金流率自由现金流/营收 | -26.7% | -2.9% |
| 资本支出强度资本支出/营收 | 37.5% | 3.1% |
| 现金转化率经营现金流/净利润 | 1.24× | 0.02× |
| 过去12个月自由现金流最近4个季度 | $-1.2B | $-92.2M |
8季度趋势，按日历期对齐
经营现金流TVEULTA
| Q4 25 | $330.0M | $5.6M | ||
| Q3 25 | $1.2B | $96.5M | ||
| Q2 25 | $615.0M | $220.0M | ||
| Q1 25 | $1.0B | — | ||
| Q4 24 | $450.0M | $-56.8M | ||
| Q3 24 | $1.1B | $199.5M | ||
| Q2 24 | $508.0M | $159.3M | ||
| Q1 24 | $1.0B | $1.1B |
自由现金流TVEULTA
| Q4 25 | $-814.0M | $-81.6M | ||
| Q3 25 | $233.0M | $19.6M | ||
| Q2 25 | $-431.0M | $141.0M | ||
| Q1 25 | $-176.0M | — | ||
| Q4 24 | $-759.0M | $-171.1M | ||
| Q3 24 | $164.0M | $104.3M | ||
| Q2 24 | $-248.0M | $68.3M | ||
| Q1 24 | $276.0M | $994.0M |
自由现金流率TVEULTA
| Q4 25 | -26.7% | -2.9% | ||
| Q3 25 | 6.0% | 0.7% | ||
| Q2 25 | -13.0% | 4.9% | ||
| Q1 25 | -5.0% | — | ||
| Q4 24 | -26.0% | -6.8% | ||
| Q3 24 | 4.7% | 4.1% | ||
| Q2 24 | -8.6% | 2.5% | ||
| Q1 24 | 8.8% | 28.0% |
资本支出强度TVEULTA
| Q4 25 | 37.5% | 3.1% | ||
| Q3 25 | 25.9% | 2.8% | ||
| Q2 25 | 31.6% | 2.8% | ||
| Q1 25 | 33.6% | — | ||
| Q4 24 | 41.4% | 4.5% | ||
| Q3 24 | 25.6% | 3.7% | ||
| Q2 24 | 26.3% | 3.3% | ||
| Q1 24 | 24.2% | 3.5% |
现金转化率TVEULTA
| Q4 25 | 1.24× | 0.02× | ||
| Q3 25 | 2.03× | 0.37× | ||
| Q2 25 | 2.90× | 0.72× | ||
| Q1 25 | 2.48× | — | ||
| Q4 24 | 3.60× | -0.23× | ||
| Q3 24 | 2.05× | 0.79× | ||
| Q2 24 | 2.81× | 0.51× | ||
| Q1 24 | 3.38× | 2.84× |
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
TVE
| TN | $2.0B | 65% |
| AL | $449.0M | 15% |
| MS | $266.0M | 9% |
| KY | $193.0M | 6% |
| GA | $75.0M | 2% |
| Federal Agencies And Other | $29.0M | 1% |
| NC | $23.0M | 1% |
| VA | $12.0M | 0% |
| Off System Sales Member | $2.0M | 0% |
ULTA
暂无分部数据
