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Biglari Holdings Inc.（BH）与CAVA GROUP, INC.（CAVA）财务数据对比。点击上方公司名可切换其他公司
CAVA GROUP, INC.的季度营收约是Biglari Holdings Inc.的2.9倍（$292.2M vs $99.9M）。CAVA GROUP, INC.净利率更高（5.0% vs -49.9%，领先55.0%）。CAVA GROUP, INC.同比增速更快（19.9% vs 9.6%）。Biglari Holdings Inc.自由现金流更多（$6.4M vs $1.4M）。过去两年CAVA GROUP, INC.的营收复合增速更高（30.0% vs 5.7%）
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。
Cava是美国知名地中海风味休闲快餐连锁品牌，隶属于上市企业Cava集团。2018年8月集团收购Zoës Kitchen后，成为美国餐饮行业地中海品类规模最大的运营商。除餐厅业务外，集团还生产地中海风味蘸酱、抹酱、沙拉酱等产品，在全美各大商超渠道发售。
BH vs CAVA — 直观对比
营收规模更大
CAVA
是对方的2.9倍
$99.9M
营收增速更快
CAVA
高出10.3%
9.6%
净利率更高
CAVA
高出55.0%
-49.9%
自由现金流更多
BH
多$5.0M
$1.4M
两年增速更快
CAVA
近两年复合增速
5.7%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $99.9M | $292.2M |
| 净利润 | $-49.9M | $14.7M |
| 毛利率 | 58.3% | — |
| 营业利润率 | -64.1% | 5.9% |
| 净利率 | -49.9% | 5.0% |
| 营收同比 | 9.6% | 19.9% |
| 净利润同比 | -385.3% | -17.9% |
| 每股收益（稀释后） | — | $0.12 |
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BHCAVA
| Q4 25 | $99.9M | $292.2M | ||
| Q3 25 | $99.7M | $280.6M | ||
| Q2 25 | $100.6M | $331.8M | ||
| Q1 25 | $95.0M | — | ||
| Q4 24 | $91.1M | $243.8M | ||
| Q3 24 | $90.4M | $233.5M | ||
| Q2 24 | $91.1M | $259.0M | ||
| Q1 24 | $89.5M | — |
净利润BHCAVA
| Q4 25 | $-49.9M | $14.7M | ||
| Q3 25 | $-5.3M | $18.4M | ||
| Q2 25 | $50.9M | $25.7M | ||
| Q1 25 | $-33.3M | — | ||
| Q4 24 | $-10.3M | $18.0M | ||
| Q3 24 | $32.1M | $19.7M | ||
| Q2 24 | $-48.2M | $14.0M | ||
| Q1 24 | $22.6M | — |
毛利率BHCAVA
| Q4 25 | 58.3% | — | ||
| Q3 25 | 58.1% | — | ||
| Q2 25 | 60.2% | — | ||
| Q1 25 | 60.3% | — | ||
| Q4 24 | 60.6% | 25.7% | ||
| Q3 24 | 59.9% | 26.7% | ||
| Q2 24 | 59.5% | 25.2% | ||
| Q1 24 | 61.5% | — |
营业利润率BHCAVA
| Q4 25 | -64.1% | 5.9% | ||
| Q3 25 | -7.6% | 7.0% | ||
| Q2 25 | 64.7% | 4.7% | ||
| Q1 25 | -43.3% | — | ||
| Q4 24 | -19.7% | 5.6% | ||
| Q3 24 | 47.9% | 6.9% | ||
| Q2 24 | -69.0% | 3.6% | ||
| Q1 24 | 32.9% | — |
净利率BHCAVA
| Q4 25 | -49.9% | 5.0% | ||
| Q3 25 | -5.3% | 6.5% | ||
| Q2 25 | 50.6% | 7.7% | ||
| Q1 25 | -35.0% | — | ||
| Q4 24 | -11.3% | 7.4% | ||
| Q3 24 | 35.5% | 8.5% | ||
| Q2 24 | -52.9% | 5.4% | ||
| Q1 24 | 25.2% | — |
每股收益（稀释后）BHCAVA
| Q4 25 | — | $0.12 | ||
| Q3 25 | — | $0.16 | ||
| Q2 25 | — | $0.22 | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $0.15 | ||
| Q3 24 | — | $0.17 | ||
| Q2 24 | — | $0.12 | ||
| Q1 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 | $268.8M | $284.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $523.4M | $769.0M |
| 总资产 | $1.0B | $1.3B |
| 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BHCAVA
| Q4 25 | $268.8M | $284.6M | ||
| Q3 25 | $272.5M | $290.2M | ||
| Q2 25 | $32.8M | $289.4M | ||
| Q1 25 | $28.7M | — | ||
| Q4 24 | $30.7M | $367.2M | ||
| Q3 24 | $29.9M | $343.7M | ||
| Q2 24 | $26.9M | $329.1M | ||
| Q1 24 | $34.5M | — |
股东权益BHCAVA
| Q4 25 | $523.4M | $769.0M | ||
| Q3 25 | $580.3M | $750.7M | ||
| Q2 25 | $589.3M | $726.2M | ||
| Q1 25 | $539.8M | — | ||
| Q4 24 | $573.0M | $616.4M | ||
| Q3 24 | $601.8M | $595.4M | ||
| Q2 24 | $569.2M | $580.8M | ||
| Q1 24 | $618.6M | — |
总资产BHCAVA
| Q4 25 | $1.0B | $1.3B | ||
| Q3 25 | $1.1B | $1.3B | ||
| Q2 25 | $863.6M | $1.2B | ||
| Q1 25 | $829.1M | — | ||
| Q4 24 | $866.1M | $1.1B | ||
| Q3 24 | $865.1M | $1.0B | ||
| Q2 24 | $809.1M | $1.0B | ||
| Q1 24 | $885.3M | — |
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 | $17.8M | $45.6M |
| 自由现金流经营现金流 - 资本支出 | $6.4M | $1.4M |
| 自由现金流率自由现金流/营收 | 6.4% | 0.5% |
| 资本支出强度资本支出/营收 | 11.4% | 15.1% |
| 现金转化率经营现金流/净利润 | — | 3.10× |
| 过去12个月自由现金流最近4个季度 | $76.6M | $46.6M |
8季度趋势，按日历期对齐
经营现金流BHCAVA
| Q4 25 | $17.8M | $45.6M | ||
| Q3 25 | $31.2M | $60.3M | ||
| Q2 25 | $42.1M | $38.6M | ||
| Q1 25 | $15.8M | — | ||
| Q4 24 | $18.0M | $43.9M | ||
| Q3 24 | $10.8M | $48.9M | ||
| Q2 24 | $1.8M | $38.4M | ||
| Q1 24 | $19.1M | — |
自由现金流BHCAVA
| Q4 25 | $6.4M | $1.4M | ||
| Q3 25 | $22.3M | $19.2M | ||
| Q2 25 | $39.4M | $2.7M | ||
| Q1 25 | $8.5M | — | ||
| Q4 24 | $10.9M | $23.4M | ||
| Q3 24 | $3.7M | $22.7M | ||
| Q2 24 | $-10.0M | $4.7M | ||
| Q1 24 | $14.5M | — |
自由现金流率BHCAVA
| Q4 25 | 6.4% | 0.5% | ||
| Q3 25 | 22.4% | 6.8% | ||
| Q2 25 | 39.2% | 0.8% | ||
| Q1 25 | 8.9% | — | ||
| Q4 24 | 12.0% | 9.6% | ||
| Q3 24 | 4.1% | 9.7% | ||
| Q2 24 | -11.0% | 1.8% | ||
| Q1 24 | 16.2% | — |
资本支出强度BHCAVA
| Q4 25 | 11.4% | 15.1% | ||
| Q3 25 | 9.0% | 14.7% | ||
| Q2 25 | 2.7% | 10.8% | ||
| Q1 25 | 7.7% | — | ||
| Q4 24 | 7.8% | 8.4% | ||
| Q3 24 | 7.8% | 11.2% | ||
| Q2 24 | 13.0% | 13.0% | ||
| Q1 24 | 5.1% | — |
现金转化率BHCAVA
| Q4 25 | — | 3.10× | ||
| Q3 25 | — | 3.28× | ||
| Q2 25 | 0.83× | 1.50× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 2.44× | ||
| Q3 24 | 0.33× | 2.48× | ||
| Q2 24 | — | 2.74× | ||
| Q1 24 | 0.85× | — |
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
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% |
CAVA
| Restaurant Revenue | $289.8M | 99% |
| Rewards | $2.9M | 1% |
| CPG Revenue And Other | $2.5M | 1% |
