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Ulta Beauty（ULTA）与Vistra Corp.（VST）财务数据对比。点击上方公司名可切换其他公司
Vistra Corp.的季度营收约是Ulta Beauty的1.7倍（$4.8B vs $2.9B），Ulta Beauty净利率更高（8.1% vs 4.8%，领先3.2%），Vistra Corp.同比增速更快（31.2% vs 12.9%），Vistra Corp.自由现金流更多（$596.0M vs $-81.6M），过去两年Vistra Corp.的营收复合增速更高（23.3% 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。
股票代码为VST的Vistra Corp是总部位于美国得克萨斯州的能源企业，主营电力生产、可再生能源开发及能源零售等业务。此外“Vistra”也可指一家总部位于中国香港的企业服务提供商，为全球客户提供公司注册、合规管理等专业服务。
ULTA vs VST — 直观对比
营收规模更大
VST
是对方的1.7倍
$2.9B
营收增速更快
VST
高出18.3%
12.9%
净利率更高
ULTA
高出3.2%
4.8%
自由现金流更多
VST
多$677.6M
$-81.6M
两年增速更快
VST
近两年复合增速
7.2%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.9B | $4.8B |
| 净利润 | $230.9M | $233.0M |
| 毛利率 | 40.4% | — |
| 营业利润率 | 10.8% | 9.9% |
| 净利率 | 8.1% | 4.8% |
| 营收同比 | 12.9% | 31.2% |
| 净利润同比 | -4.7% | -47.2% |
| 每股收益（稀释后） | $5.14 | $0.55 |
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ULTAVST
| Q4 25 | $2.9B | $4.8B | ||
| Q3 25 | $2.8B | $4.8B | ||
| Q2 25 | $2.8B | $3.8B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | $2.5B | $3.7B | ||
| Q3 24 | $2.6B | $4.3B | ||
| Q2 24 | $2.7B | $3.6B | ||
| Q1 24 | $3.6B | $3.2B |
净利润ULTAVST
| Q4 25 | $230.9M | $233.0M | ||
| Q3 25 | $260.9M | $652.0M | ||
| Q2 25 | $305.1M | $327.0M | ||
| Q1 25 | — | $-268.0M | ||
| Q4 24 | $242.2M | $441.0M | ||
| Q3 24 | $252.6M | $1.9B | ||
| Q2 24 | $313.1M | $365.0M | ||
| Q1 24 | $394.4M | $-35.0M |
毛利率ULTAVST
| 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ULTAVST
| Q4 25 | 10.8% | 9.9% | ||
| Q3 25 | 12.4% | 21.7% | ||
| Q2 25 | 14.1% | 13.7% | ||
| Q1 25 | — | -2.8% | ||
| Q4 24 | 12.6% | 16.4% | ||
| Q3 24 | 12.9% | 59.6% | ||
| Q2 24 | 14.7% | 22.5% | ||
| Q1 24 | 14.5% | 2.7% |
净利率ULTAVST
| Q4 25 | 8.1% | 4.8% | ||
| Q3 25 | 9.4% | 13.6% | ||
| Q2 25 | 10.7% | 8.7% | ||
| Q1 25 | — | -6.3% | ||
| Q4 24 | 9.6% | 12.0% | ||
| Q3 24 | 9.9% | 43.5% | ||
| Q2 24 | 11.5% | 10.1% | ||
| Q1 24 | 11.1% | -1.1% |
每股收益（稀释后）ULTAVST
| Q4 25 | $5.14 | $0.55 | ||
| Q3 25 | $5.78 | $1.75 | ||
| Q2 25 | $6.70 | $0.81 | ||
| Q1 25 | — | $-0.93 | ||
| Q4 24 | $5.14 | $1.09 | ||
| Q3 24 | $5.30 | $5.25 | ||
| Q2 24 | $6.47 | $0.90 | ||
| Q1 24 | $8.06 | $-0.24 |
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 | $785.0M |
| 总债务越低越好 | — | $15.8B |
| 股东权益账面价值 | $2.6B | $5.1B |
| 总资产 | $7.0B | $41.5B |
| 负债/权益比越低杠杆越低 | — | 3.11× |
8季度趋势，按日历期对齐
现金及短期投资ULTAVST
| Q4 25 | $204.9M | $785.0M | ||
| Q3 25 | $242.7M | $602.0M | ||
| Q2 25 | $454.6M | $458.0M | ||
| Q1 25 | — | $561.0M | ||
| Q4 24 | $177.8M | $1.2B | ||
| Q3 24 | $414.0M | $905.0M | ||
| Q2 24 | $524.6M | $1.6B | ||
| Q1 24 | $766.6M | $1.1B |
总债务ULTAVST
| Q4 25 | — | $15.8B | ||
| Q3 25 | — | $15.8B | ||
| Q2 25 | — | $15.5B | ||
| Q1 25 | — | $15.4B | ||
| Q4 24 | — | $15.4B | ||
| Q3 24 | — | $13.9B | ||
| Q2 24 | — | $13.9B | ||
| Q1 24 | — | $14.7B |
股东权益ULTAVST
| Q4 25 | $2.6B | $5.1B | ||
| Q3 25 | $2.6B | $5.2B | ||
| Q2 25 | $2.4B | $4.8B | ||
| Q1 25 | — | $4.8B | ||
| Q4 24 | $2.3B | $5.6B | ||
| Q3 24 | $2.3B | $5.4B | ||
| Q2 24 | $2.3B | $5.6B | ||
| Q1 24 | $2.3B | $5.7B |
总资产ULTAVST
| Q4 25 | $7.0B | $41.5B | ||
| Q3 25 | $6.6B | $38.0B | ||
| Q2 25 | $6.0B | $38.1B | ||
| Q1 25 | — | $38.2B | ||
| Q4 24 | $6.0B | $37.8B | ||
| Q3 24 | $5.7B | $37.9B | ||
| Q2 24 | $5.6B | $39.1B | ||
| Q1 24 | $5.7B | $38.2B |
负债/权益比ULTAVST
| Q4 25 | — | 3.11× | ||
| Q3 25 | — | 3.02× | ||
| Q2 25 | — | 3.22× | ||
| Q1 25 | — | 3.20× | ||
| Q4 24 | — | 2.77× | ||
| Q3 24 | — | 2.56× | ||
| Q2 24 | — | 2.49× | ||
| Q1 24 | — | 2.60× |
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 | $1.4B |
| 自由现金流经营现金流 - 资本支出 | $-81.6M | $596.0M |
| 自由现金流率自由现金流/营收 | -2.9% | 12.4% |
| 资本支出强度资本支出/营收 | 3.1% | 17.4% |
| 现金转化率经营现金流/净利润 | 0.02× | 6.15× |
| 过去12个月自由现金流最近4个季度 | $-92.2M | $1.3B |
8季度趋势，按日历期对齐
经营现金流ULTAVST
| Q4 25 | $5.6M | $1.4B | ||
| Q3 25 | $96.5M | $1.5B | ||
| Q2 25 | $220.0M | $572.0M | ||
| Q1 25 | — | $599.0M | ||
| Q4 24 | $-56.8M | $1.4B | ||
| Q3 24 | $199.5M | $1.7B | ||
| Q2 24 | $159.3M | $1.2B | ||
| Q1 24 | $1.1B | $312.0M |
自由现金流ULTAVST
| Q4 25 | $-81.6M | $596.0M | ||
| Q3 25 | $19.6M | $1.0B | ||
| Q2 25 | $141.0M | $-118.0M | ||
| Q1 25 | — | $-169.0M | ||
| Q4 24 | $-171.1M | $923.0M | ||
| Q3 24 | $104.3M | $1.0B | ||
| Q2 24 | $68.3M | $698.0M | ||
| Q1 24 | $994.0M | $-153.0M |
自由现金流率ULTAVST
| Q4 25 | -2.9% | 12.4% | ||
| Q3 25 | 0.7% | 21.1% | ||
| Q2 25 | 4.9% | -3.1% | ||
| Q1 25 | — | -4.0% | ||
| Q4 24 | -6.8% | 25.2% | ||
| Q3 24 | 4.1% | 23.4% | ||
| Q2 24 | 2.5% | 19.4% | ||
| Q1 24 | 28.0% | -4.8% |
资本支出强度ULTAVST
| Q4 25 | 3.1% | 17.4% | ||
| Q3 25 | 2.8% | 9.6% | ||
| Q2 25 | 2.8% | 18.4% | ||
| Q1 25 | — | 18.1% | ||
| Q4 24 | 4.5% | 11.7% | ||
| Q3 24 | 3.7% | 15.8% | ||
| Q2 24 | 3.3% | 13.8% | ||
| Q1 24 | 3.5% | 14.7% |
现金转化率ULTAVST
| Q4 25 | 0.02× | 6.15× | ||
| Q3 25 | 0.37× | 2.25× | ||
| Q2 25 | 0.72× | 1.75× | ||
| Q1 25 | — | — | ||
| Q4 24 | -0.23× | 3.07× | ||
| Q3 24 | 0.79× | 0.90× | ||
| Q2 24 | 0.51× | 3.28× | ||
| 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
VST
| Retail Energy Charge In ERCOT | $2.1B | 43% |
| Retail Energy Charge In Northeast Midwest | $1.2B | 24% |
| East Segment | $1.1B | 24% |
| Hedging Revenue Realized | $170.0M | 4% |
| Revenue From Other Wholesale Contracts | $116.0M | 2% |
| Transferable Production Tax Credit Revenues | $78.0M | 2% |
| West Segment | $77.0M | 2% |
| Intersegment Sales | $25.0M | 1% |
