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Ulta Beauty（ULTA）与威富集团（VFC）财务数据对比。点击上方公司名可切换其他公司
威富集团的季度营收约是Ulta Beauty的1.0倍（$2.9B vs $2.9B），威富集团净利率更高（10.5% vs 8.1%，领先2.4%），Ulta Beauty同比增速更快（12.9% vs 1.5%），威富集团自由现金流更多（$977.9M vs $-81.6M），过去两年威富集团的营收复合增速更高（10.1% vs 7.2%）
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。
威富集团前身为F.W.伍尔沃斯公司，是全球知名零售企业，也是五分一角平价商店业态的先驱之一。作为美国乃至全球最成功的平价零售企业之一，它曾引领行业发展潮流，构建了如今全球各地门店普遍遵循的现代零售模式。
ULTA vs VFC — 直观对比
营收规模更大
VFC
是对方的1.0倍
$2.9B
营收增速更快
ULTA
高出11.5%
1.5%
净利率更高
VFC
高出2.4%
8.1%
自由现金流更多
VFC
多$1.1B
$-81.6M
两年增速更快
VFC
近两年复合增速
7.2%
损益表 — Q3 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.9B | $2.9B |
| 净利润 | $230.9M | $300.8M |
| 毛利率 | 40.4% | 56.6% |
| 营业利润率 | 10.8% | 10.1% |
| 净利率 | 8.1% | 10.5% |
| 营收同比 | 12.9% | 1.5% |
| 净利润同比 | -4.7% | 79.3% |
| 每股收益（稀释后） | $5.14 | $0.76 |
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ULTAVFC
| Q4 25 | $2.9B | $2.9B | ||
| Q3 25 | $2.8B | $2.8B | ||
| Q2 25 | $2.8B | $1.8B | ||
| Q1 25 | — | $2.0B | ||
| Q4 24 | $2.5B | $2.8B | ||
| Q3 24 | $2.6B | $2.8B | ||
| Q2 24 | $2.7B | $1.9B | ||
| Q1 24 | $3.6B | $2.4B |
净利润ULTAVFC
| Q4 25 | $230.9M | $300.8M | ||
| Q3 25 | $260.9M | $189.8M | ||
| Q2 25 | $305.1M | $-116.4M | ||
| Q1 25 | — | $-150.8M | ||
| Q4 24 | $242.2M | $167.8M | ||
| Q3 24 | $252.6M | $52.2M | ||
| Q2 24 | $313.1M | $-258.9M | ||
| Q1 24 | $394.4M | $-418.3M |
毛利率ULTAVFC
| Q4 25 | 40.4% | 56.6% | ||
| Q3 25 | 39.2% | 52.2% | ||
| Q2 25 | 39.1% | 53.9% | ||
| Q1 25 | — | 52.7% | ||
| Q4 24 | 39.7% | 56.3% | ||
| Q3 24 | 38.3% | 52.2% | ||
| Q2 24 | 39.2% | 52.0% | ||
| Q1 24 | 37.7% | 48.4% |
营业利润率ULTAVFC
| Q4 25 | 10.8% | 10.1% | ||
| Q3 25 | 12.4% | 11.2% | ||
| Q2 25 | 14.1% | -4.9% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | 12.6% | 8.0% | ||
| Q3 24 | 12.9% | 9.9% | ||
| Q2 24 | 14.7% | -12.6% | ||
| Q1 24 | 14.5% | -15.0% |
净利率ULTAVFC
| Q4 25 | 8.1% | 10.5% | ||
| Q3 25 | 9.4% | 6.8% | ||
| Q2 25 | 10.7% | -6.6% | ||
| Q1 25 | — | -7.5% | ||
| Q4 24 | 9.6% | 5.9% | ||
| Q3 24 | 9.9% | 1.9% | ||
| Q2 24 | 11.5% | -13.6% | ||
| Q1 24 | 11.1% | -17.6% |
每股收益（稀释后）ULTAVFC
| Q4 25 | $5.14 | $0.76 | ||
| Q3 25 | $5.78 | $0.48 | ||
| Q2 25 | $6.70 | $-0.30 | ||
| Q1 25 | — | $-0.37 | ||
| Q4 24 | $5.14 | $0.43 | ||
| Q3 24 | $5.30 | $0.13 | ||
| Q2 24 | $6.47 | $-0.67 | ||
| Q1 24 | $8.06 | $-1.07 |
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 | $204.9M | $1.5B |
| 总债务越低越好 | — | $3.6B |
| 股东权益账面价值 | $2.6B | $1.8B |
| 总资产 | $7.0B | $10.4B |
| 负债/权益比越低杠杆越低 | — | 1.99× |
8季度趋势，按日历期对齐
现金及短期投资ULTAVFC
| Q4 25 | $204.9M | $1.5B | ||
| Q3 25 | $242.7M | $419.1M | ||
| Q2 25 | $454.6M | $642.4M | ||
| Q1 25 | — | $429.4M | ||
| Q4 24 | $177.8M | $1.4B | ||
| Q3 24 | $414.0M | $492.2M | ||
| Q2 24 | $524.6M | $637.4M | ||
| Q1 24 | $766.6M | $674.6M |
总债务ULTAVFC
| Q4 25 | — | $3.6B | ||
| Q3 25 | — | $3.5B | ||
| Q2 25 | — | $3.6B | ||
| Q1 25 | — | $3.4B | ||
| Q4 24 | — | $3.9B | ||
| Q3 24 | — | $4.0B | ||
| Q2 24 | — | $3.9B | ||
| Q1 24 | — | $4.7B |
股东权益ULTAVFC
| Q4 25 | $2.6B | $1.8B | ||
| Q3 25 | $2.6B | $1.5B | ||
| Q2 25 | $2.4B | $1.3B | ||
| Q1 25 | — | $1.5B | ||
| Q4 24 | $2.3B | $1.7B | ||
| Q3 24 | $2.3B | $1.4B | ||
| Q2 24 | $2.3B | $1.4B | ||
| Q1 24 | $2.3B | $1.7B |
总资产ULTAVFC
| Q4 25 | $7.0B | $10.4B | ||
| Q3 25 | $6.6B | $10.6B | ||
| Q2 25 | $6.0B | $10.2B | ||
| Q1 25 | — | $9.4B | ||
| Q4 24 | $6.0B | $10.6B | ||
| Q3 24 | $5.7B | $12.2B | ||
| Q2 24 | $5.6B | $11.5B | ||
| Q1 24 | $5.7B | $11.6B |
负债/权益比ULTAVFC
| Q4 25 | — | 1.99× | ||
| Q3 25 | — | 2.40× | ||
| Q2 25 | — | 2.76× | ||
| Q1 25 | — | 2.30× | ||
| Q4 24 | — | 2.31× | ||
| Q3 24 | — | 2.86× | ||
| Q2 24 | — | 2.84× | ||
| Q1 24 | — | 2.84× |
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 | $5.6M | $1.0B |
| 自由现金流经营现金流 - 资本支出 | $-81.6M | $977.9M |
| 自由现金流率自由现金流/营收 | -2.9% | 34.0% |
| 资本支出强度资本支出/营收 | 3.1% | 1.1% |
| 现金转化率经营现金流/净利润 | 0.02× | 3.36× |
| 过去12个月自由现金流最近4个季度 | $-92.2M | $357.6M |
8季度趋势，按日历期对齐
经营现金流ULTAVFC
| Q4 25 | $5.6M | $1.0B | ||
| Q3 25 | $96.5M | $-227.0M | ||
| Q2 25 | $220.0M | $-145.5M | ||
| Q1 25 | — | $-171.1M | ||
| Q4 24 | $-56.8M | $918.1M | ||
| Q3 24 | $199.5M | $-301.6M | ||
| Q2 24 | $159.3M | $19.8M | ||
| Q1 24 | $1.1B | — |
自由现金流ULTAVFC
| Q4 25 | $-81.6M | $977.9M | ||
| Q3 25 | $19.6M | $-253.5M | ||
| Q2 25 | $141.0M | $-173.7M | ||
| Q1 25 | — | $-193.0M | ||
| Q4 24 | $-171.1M | $899.7M | ||
| Q3 24 | $104.3M | $-322.4M | ||
| Q2 24 | $68.3M | $-5.4M | ||
| Q1 24 | $994.0M | — |
自由现金流率ULTAVFC
| Q4 25 | -2.9% | 34.0% | ||
| Q3 25 | 0.7% | -9.0% | ||
| Q2 25 | 4.9% | -9.9% | ||
| Q1 25 | — | -9.6% | ||
| Q4 24 | -6.8% | 31.7% | ||
| Q3 24 | 4.1% | -11.7% | ||
| Q2 24 | 2.5% | -0.3% | ||
| Q1 24 | 28.0% | — |
资本支出强度ULTAVFC
| Q4 25 | 3.1% | 1.1% | ||
| Q3 25 | 2.8% | 0.9% | ||
| Q2 25 | 2.8% | 1.6% | ||
| Q1 25 | — | 1.1% | ||
| Q4 24 | 4.5% | 0.6% | ||
| Q3 24 | 3.7% | 0.8% | ||
| Q2 24 | 3.3% | 1.3% | ||
| Q1 24 | 3.5% | — |
现金转化率ULTAVFC
| Q4 25 | 0.02× | 3.36× | ||
| Q3 25 | 0.37× | -1.20× | ||
| Q2 25 | 0.72× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -0.23× | 5.47× | ||
| Q3 24 | 0.79× | -5.78× | ||
| Q2 24 | 0.51× | — | ||
| Q1 24 | 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
ULTA
暂无分部数据
VFC
| Outdoor | $1.9B | 67% |
| Sales Channel Through Intermediary | $813.4M | 28% |
| Other | $136.3M | 5% |
