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爱玛客（ARMK）与Biglari Holdings Inc.（BH）财务数据对比。点击上方公司名可切换其他公司
爱玛客的季度营收约是Biglari Holdings Inc.的48.4倍（$4.8B vs $99.9M）。爱玛客净利率更高（2.0% vs -49.9%，领先51.9%）。Biglari Holdings Inc.同比增速更快（9.6% vs 6.1%）。Biglari Holdings Inc.自由现金流更多（$6.4M vs $-904.4M）。过去两年爱玛客的营收复合增速更高（7.3% vs 5.7%）
爱玛客是美国知名的餐饮服务与设施管理服务商，服务覆盖教育、司法监管、医疗、企业、休闲文旅等多个领域，业务遍布北美地区及英国、德国、智利、爱尔兰、西班牙在内的14个国家，为各场景客户提供专业后勤支持解决方案。
Biglari控股是一家总部位于美国得克萨斯州圣安东尼奥的控股公司，由企业家萨达尔·比格拉里创立。旗下业务涵盖餐饮、出版、保险、石油能源多个领域，旗下子品牌包括Steak 'n Shake、《马克西姆》杂志、第一卫士保险、南先锋保险、南方石油、阿布拉克萨斯石油等。
ARMK vs BH — 直观对比
营收规模更大
ARMK
是对方的48.4倍
$99.9M
营收增速更快
BH
高出3.5%
6.1%
净利率更高
ARMK
高出51.9%
-49.9%
自由现金流更多
BH
多$910.7M
$-904.4M
两年增速更快
ARMK
近两年复合增速
5.7%
损益表 — Q1 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $4.8B | $99.9M |
| 净利润 | $96.2M | $-49.9M |
| 毛利率 | — | 58.3% |
| 营业利润率 | 4.5% | -64.1% |
| 净利率 | 2.0% | -49.9% |
| 营收同比 | 6.1% | 9.6% |
| 净利润同比 | -9.0% | -385.3% |
| 每股收益（稀释后） | $0.36 | — |
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ARMKBH
| Q1 26 | $4.8B | — | ||
| Q4 25 | $5.0B | $99.9M | ||
| Q3 25 | — | $99.7M | ||
| Q2 25 | $4.6B | $100.6M | ||
| Q1 25 | $4.3B | $95.0M | ||
| Q4 24 | $4.6B | $91.1M | ||
| Q3 24 | $4.4B | $90.4M | ||
| Q2 24 | $4.4B | $91.1M |
净利润ARMKBH
| Q1 26 | $96.2M | — | ||
| Q4 25 | $87.1M | $-49.9M | ||
| Q3 25 | — | $-5.3M | ||
| Q2 25 | $71.8M | $50.9M | ||
| Q1 25 | $61.9M | $-33.3M | ||
| Q4 24 | $105.6M | $-10.3M | ||
| Q3 24 | $122.4M | $32.1M | ||
| Q2 24 | $58.1M | $-48.2M |
毛利率ARMKBH
| Q1 26 | — | — | ||
| Q4 25 | — | 58.3% | ||
| Q3 25 | — | 58.1% | ||
| Q2 25 | — | 60.2% | ||
| Q1 25 | — | 60.3% | ||
| Q4 24 | — | 60.6% | ||
| Q3 24 | — | 59.9% | ||
| Q2 24 | — | 59.5% |
营业利润率ARMKBH
| Q1 26 | 4.5% | — | ||
| Q4 25 | 4.3% | -64.1% | ||
| Q3 25 | — | -7.6% | ||
| Q2 25 | 3.9% | 64.7% | ||
| Q1 25 | 4.1% | -43.3% | ||
| Q4 24 | 4.8% | -19.7% | ||
| Q3 24 | 5.0% | 47.9% | ||
| Q2 24 | 3.7% | -69.0% |
净利率ARMKBH
| Q1 26 | 2.0% | — | ||
| Q4 25 | 1.7% | -49.9% | ||
| Q3 25 | — | -5.3% | ||
| Q2 25 | 1.6% | 50.6% | ||
| Q1 25 | 1.4% | -35.0% | ||
| Q4 24 | 2.3% | -11.3% | ||
| Q3 24 | 2.8% | 35.5% | ||
| Q2 24 | 1.3% | -52.9% |
每股收益（稀释后）ARMKBH
| Q1 26 | $0.36 | — | ||
| Q4 25 | $0.33 | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $0.27 | — | ||
| Q1 25 | $0.23 | — | ||
| Q4 24 | $0.39 | — | ||
| Q3 24 | $0.46 | — | ||
| Q2 24 | $0.22 | — |
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 | $439.6M | $268.8M |
| 总债务越低越好 | $6.2B | — |
| 股东权益账面价值 | $3.2B | $523.4M |
| 总资产 | $13.5B | $1.0B |
| 负债/权益比越低杠杆越低 | 1.94× | — |
8季度趋势，按日历期对齐
现金及短期投资ARMKBH
| Q1 26 | $439.6M | — | ||
| Q4 25 | $639.1M | $268.8M | ||
| Q3 25 | — | $272.5M | ||
| Q2 25 | $501.5M | $32.8M | ||
| Q1 25 | $920.5M | $28.7M | ||
| Q4 24 | $484.1M | $30.7M | ||
| Q3 24 | $672.5M | $29.9M | ||
| Q2 24 | $436.1M | $26.9M |
总债务ARMKBH
| Q1 26 | $6.2B | — | ||
| Q4 25 | $5.4B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $6.3B | — | ||
| Q1 25 | $6.1B | — | ||
| Q4 24 | $5.0B | — | ||
| Q3 24 | $4.3B | — | ||
| Q2 24 | $5.0B | — |
股东权益ARMKBH
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.1B | $523.4M | ||
| Q3 25 | — | $580.3M | ||
| Q2 25 | $3.1B | $589.3M | ||
| Q1 25 | $3.0B | $539.8M | ||
| Q4 24 | $3.1B | $573.0M | ||
| Q3 24 | $3.0B | $601.8M | ||
| Q2 24 | $2.9B | $569.2M |
总资产ARMKBH
| Q1 26 | $13.5B | — | ||
| Q4 25 | $13.3B | $1.0B | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | $13.3B | $863.6M | ||
| Q1 25 | $13.5B | $829.1M | ||
| Q4 24 | $12.7B | $866.1M | ||
| Q3 24 | $12.7B | $865.1M | ||
| Q2 24 | $12.5B | $809.1M |
负债/权益比ARMKBH
| Q1 26 | 1.94× | — | ||
| Q4 25 | 1.71× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 2.03× | — | ||
| Q1 25 | 2.02× | — | ||
| Q4 24 | 1.61× | — | ||
| Q3 24 | 1.42× | — | ||
| Q2 24 | 1.71× | — |
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 | $-782.2M | $17.8M |
| 自由现金流经营现金流 - 资本支出 | $-904.4M | $6.4M |
| 自由现金流率自由现金流/营收 | -18.7% | 6.4% |
| 资本支出强度资本支出/营收 | 2.5% | 11.4% |
| 现金转化率经营现金流/净利润 | -8.13× | — |
| 过去12个月自由现金流最近4个季度 | — | $76.6M |
8季度趋势，按日历期对齐
经营现金流ARMKBH
| Q1 26 | $-782.2M | — | ||
| Q4 25 | — | $17.8M | ||
| Q3 25 | — | $31.2M | ||
| Q2 25 | $76.7M | $42.1M | ||
| Q1 25 | $255.9M | $15.8M | ||
| Q4 24 | $-587.2M | $18.0M | ||
| Q3 24 | $1.0B | $10.8M | ||
| Q2 24 | $140.7M | $1.8M |
自由现金流ARMKBH
| Q1 26 | $-904.4M | — | ||
| Q4 25 | — | $6.4M | ||
| Q3 25 | — | $22.3M | ||
| Q2 25 | $-34.7M | $39.4M | ||
| Q1 25 | $140.1M | $8.5M | ||
| Q4 24 | $-707.0M | $10.9M | ||
| Q3 24 | $882.3M | $3.7M | ||
| Q2 24 | $55.6M | $-10.0M |
自由现金流率ARMKBH
| Q1 26 | -18.7% | — | ||
| Q4 25 | — | 6.4% | ||
| Q3 25 | — | 22.4% | ||
| Q2 25 | -0.8% | 39.2% | ||
| Q1 25 | 3.3% | 8.9% | ||
| Q4 24 | -15.5% | 12.0% | ||
| Q3 24 | 20.0% | 4.1% | ||
| Q2 24 | 1.3% | -11.0% |
资本支出强度ARMKBH
| Q1 26 | 2.5% | — | ||
| Q4 25 | 2.8% | 11.4% | ||
| Q3 25 | — | 9.0% | ||
| Q2 25 | 2.4% | 2.7% | ||
| Q1 25 | 2.7% | 7.7% | ||
| Q4 24 | 2.6% | 7.8% | ||
| Q3 24 | 3.2% | 7.8% | ||
| Q2 24 | 1.9% | 13.0% |
现金转化率ARMKBH
| Q1 26 | -8.13× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.07× | 0.83× | ||
| Q1 25 | 4.14× | — | ||
| Q4 24 | -5.56× | — | ||
| Q3 24 | 8.35× | 0.33× | ||
| Q2 24 | 2.42× | — |
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
ARMK
| Education | $1.1B | 22% |
| Sports Leisure Corrections | $961.2M | 20% |
| Food And Support Services International | $847.8M | 18% |
| Other | $621.6M | 13% |
| Businessand Industry | $510.6M | 11% |
| Health Care | $421.3M | 9% |
| Facility Services | $382.9M | 8% |
BH
| Products | $45.9M | 46% |
| Franchisor | $20.5M | 21% |
| Insurance Operations | $19.1M | 19% |
| Oil And Gas Segment | $5.4M | 5% |
| Royalty | $4.1M | 4% |
| Abraxas Petroleum | $2.7M | 3% |
| Other | $2.2M | 2% |
