vs
AZZ INC（AZZ）与棒约翰（PZZA）财务数据对比。点击上方公司名可切换其他公司
棒约翰的季度营收约是AZZ INC的1.3倍（$498.2M vs $385.1M），AZZ INC净利率更高（4.1% vs 1.4%，领先2.7%），棒约翰同比增速更快（-6.1% vs -75.6%），过去两年棒约翰的营收复合增速更高（-1.5% vs -3.5%）
AZZ公司是全球领先的金属防护解决方案供应商，主营热浸镀锌、表面涂层处理服务及特种电气、工业零部件，主要服务于北美及其他核心国际市场的建筑、能源、基建、制造等下游领域。
棒约翰国际是源自美国的知名披萨餐饮连锁品牌，截至2023年，它是美国市场规模第四大披萨外送连锁餐饮集团，总部设于肯塔基州路易斯维尔与佐治亚州亚特兰大的都会区，在全球多地开设门店，主打披萨外卖业务。
AZZ vs PZZA — 直观对比
营收规模更大
PZZA
是对方的1.3倍
$385.1M
营收增速更快
PZZA
高出69.5%
-75.6%
净利率更高
AZZ
高出2.7%
1.4%
两年增速更快
PZZA
近两年复合增速
-3.5%
损益表 — Q4 FY2027 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $385.1M | $498.2M |
| 净利润 | $15.9M | $7.1M |
| 毛利率 | 22.7% | — |
| 营业利润率 | 14.8% | 4.9% |
| 净利率 | 4.1% | 1.4% |
| 营收同比 | -75.6% | -6.1% |
| 净利润同比 | -21.2% | -52.2% |
| 每股收益（稀释后） | $0.53 | $0.22 |
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AZZPZZA
| Q4 26 | $385.1M | — | ||
| Q4 25 | $425.7M | $498.2M | ||
| Q3 25 | $417.3M | $508.2M | ||
| Q2 25 | $422.0M | $529.2M | ||
| Q1 25 | $351.9M | $518.3M | ||
| Q4 24 | $403.7M | $530.8M | ||
| Q3 24 | $409.0M | $506.8M | ||
| Q2 24 | $413.2M | $507.9M |
净利润AZZPZZA
| Q4 26 | $15.9M | — | ||
| Q4 25 | $41.1M | $7.1M | ||
| Q3 25 | $89.3M | $4.7M | ||
| Q2 25 | $170.9M | $9.5M | ||
| Q1 25 | $20.2M | $9.2M | ||
| Q4 24 | $33.6M | $14.8M | ||
| Q3 24 | $35.4M | $41.8M | ||
| Q2 24 | $39.6M | $12.2M |
毛利率AZZPZZA
| Q4 26 | 22.7% | — | ||
| Q4 25 | 23.9% | — | ||
| Q3 25 | 24.3% | — | ||
| Q2 25 | 24.7% | — | ||
| Q1 25 | 22.4% | — | ||
| Q4 24 | 24.2% | — | ||
| Q3 24 | 25.3% | — | ||
| Q2 24 | 24.8% | — |
营业利润率AZZPZZA
| Q4 26 | 14.8% | — | ||
| Q4 25 | 16.3% | 4.9% | ||
| Q3 25 | 16.4% | 3.2% | ||
| Q2 25 | 16.5% | 4.6% | ||
| Q1 25 | 11.5% | 4.6% | ||
| Q4 24 | 14.5% | 5.6% | ||
| Q3 24 | 16.5% | 12.9% | ||
| Q2 24 | 16.9% | 5.6% |
净利率AZZPZZA
| Q4 26 | 4.1% | — | ||
| Q4 25 | 9.6% | 1.4% | ||
| Q3 25 | 21.4% | 0.9% | ||
| Q2 25 | 40.5% | 1.8% | ||
| Q1 25 | 5.7% | 1.8% | ||
| Q4 24 | 8.3% | 2.8% | ||
| Q3 24 | 8.7% | 8.2% | ||
| Q2 24 | 9.6% | 2.4% |
每股收益（稀释后）AZZPZZA
| Q4 26 | $0.53 | — | ||
| Q4 25 | $1.36 | $0.22 | ||
| Q3 25 | $2.95 | $0.13 | ||
| Q2 25 | $5.66 | $0.28 | ||
| Q1 25 | $0.87 | $0.27 | ||
| Q4 24 | $1.12 | $0.46 | ||
| Q3 24 | $1.18 | $1.27 | ||
| Q2 24 | $-1.38 | $0.37 |
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 | — | $34.6M |
| 总债务越低越好 | — | $722.3M |
| 股东权益账面价值 | $1.3B | $-444.8M |
| 总资产 | $2.2B | $837.5M |
| 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AZZPZZA
| Q4 26 | — | — | ||
| Q4 25 | $623.0K | $34.6M | ||
| Q3 25 | $897.0K | $39.0M | ||
| Q2 25 | $3.0M | $33.3M | ||
| Q1 25 | $1.5M | $44.0M | ||
| Q4 24 | $1.5M | $38.0M | ||
| Q3 24 | $2.2M | $17.6M | ||
| Q2 24 | $10.5M | $24.3M |
总债务AZZPZZA
| Q4 26 | — | — | ||
| Q4 25 | — | $722.3M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益AZZPZZA
| Q4 26 | $1.3B | — | ||
| Q4 25 | $1.3B | $-444.8M | ||
| Q3 25 | $1.3B | $-439.3M | ||
| Q2 25 | $1.2B | $-432.0M | ||
| Q1 25 | $1.0B | $-431.9M | ||
| Q4 24 | $1.0B | $-429.5M | ||
| Q3 24 | $999.8M | $-430.9M | ||
| Q2 24 | $967.2M | $-461.7M |
总资产AZZPZZA
| Q4 26 | $2.2B | — | ||
| Q4 25 | $2.2B | $837.5M | ||
| Q3 25 | $2.2B | $884.1M | ||
| Q2 25 | $2.2B | $890.4M | ||
| Q1 25 | $2.2B | $898.1M | ||
| Q4 24 | $2.2B | $889.0M | ||
| Q3 24 | $2.2B | $860.9M | ||
| Q2 24 | $2.2B | $838.4M |
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 | $525.4M | $19.8M |
| 自由现金流经营现金流 - 资本支出 | — | $2.1M |
| 自由现金流率自由现金流/营收 | — | 0.4% |
| 资本支出强度资本支出/营收 | — | 3.6% |
| 现金转化率经营现金流/净利润 | 32.98× | 2.80× |
| 过去12个月自由现金流最近4个季度 | — | $61.3M |
8季度趋势，按日历期对齐
经营现金流AZZPZZA
| Q4 26 | $525.4M | — | ||
| Q4 25 | $79.7M | $19.8M | ||
| Q3 25 | $58.4M | $39.3M | ||
| Q2 25 | $314.8M | $35.5M | ||
| Q1 25 | — | $31.3M | ||
| Q4 24 | $66.2M | $50.7M | ||
| Q3 24 | $47.5M | $13.9M | ||
| Q2 24 | $71.9M | $30.0M |
自由现金流AZZPZZA
| Q4 26 | — | — | ||
| Q4 25 | $61.2M | $2.1M | ||
| Q3 25 | $39.1M | $22.7M | ||
| Q2 25 | $293.9M | $17.4M | ||
| Q1 25 | — | $19.1M | ||
| Q4 24 | $39.7M | $25.2M | ||
| Q3 24 | $15.4M | $-3.8M | ||
| Q2 24 | $44.5M | $13.9M |
自由现金流率AZZPZZA
| Q4 26 | — | — | ||
| Q4 25 | 14.4% | 0.4% | ||
| Q3 25 | 9.4% | 4.5% | ||
| Q2 25 | 69.6% | 3.3% | ||
| Q1 25 | — | 3.7% | ||
| Q4 24 | 9.8% | 4.7% | ||
| Q3 24 | 3.8% | -0.8% | ||
| Q2 24 | 10.8% | 2.7% |
资本支出强度AZZPZZA
| Q4 26 | — | — | ||
| Q4 25 | 4.4% | 3.6% | ||
| Q3 25 | 4.6% | 3.3% | ||
| Q2 25 | 5.0% | 3.4% | ||
| Q1 25 | 8.5% | 2.4% | ||
| Q4 24 | 6.6% | 4.8% | ||
| Q3 24 | 7.8% | 3.5% | ||
| Q2 24 | 6.6% | 3.2% |
现金转化率AZZPZZA
| Q4 26 | 32.98× | — | ||
| Q4 25 | 1.94× | 2.80× | ||
| Q3 25 | 0.65× | 8.36× | ||
| Q2 25 | 1.84× | 3.73× | ||
| Q1 25 | — | 3.40× | ||
| Q4 24 | 1.97× | 3.43× | ||
| Q3 24 | 1.34× | 0.33× | ||
| Q2 24 | 1.82× | 2.45× |
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
AZZ
| Precoat Metals | $203.5M | 53% |
| Metal Coatings | $186.5M | 48% |
PZZA
| Commissary | $236.8M | 48% |
| Company Owned Restaurant Sales | $154.4M | 31% |
| Franchisor | $47.5M | 10% |
| Advertising | $37.2M | 7% |
| Other | $22.2M | 4% |
