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Biglari Holdings Inc.（BH）与BRINKER INTERNATIONAL, INC（EAT）财务数据对比。点击上方公司名可切换其他公司
BRINKER INTERNATIONAL, INC的季度营收约是Biglari Holdings Inc.的14.5倍（$1.5B vs $99.9M）。BRINKER INTERNATIONAL, INC净利率更高（8.8% vs -49.9%，领先58.8%）。Biglari Holdings Inc.同比增速更快（9.6% vs 6.9%）。BRINKER INTERNATIONAL, INC自由现金流更多（$155.2M vs $6.4M）。过去两年BRINKER INTERNATIONAL, INC的营收复合增速更高（13.9% 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。
Brinker International, Inc.是美国跨国餐饮企业，成立于1975年，总部位于得克萨斯州达拉斯，旗下拥有Chili's和Maggiano's Little Italy两大知名连锁餐饮品牌，目前在全球持有、运营或特许经营的上述品牌门店总计达1672家。
BH vs EAT — 直观对比
损益表 — Q4 2025 vs Q2 2026
| 指标 | | |
|---|---|---|
| 营收 | $99.9M | $1.5B |
| 净利润 | $-49.9M | $128.5M |
| 毛利率 | 58.3% | — |
| 营业利润率 | -64.1% | 11.6% |
| 净利率 | -49.9% | 8.8% |
| 营收同比 | 9.6% | 6.9% |
| 净利润同比 | -385.3% | 8.4% |
| 每股收益（稀释后） | — | $2.86 |
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
| Q4 25 | $99.9M | $1.5B | ||
| Q3 25 | $99.7M | $1.3B | ||
| Q2 25 | $100.6M | $1.5B | ||
| Q1 25 | $95.0M | $1.4B | ||
| Q4 24 | $91.1M | $1.4B | ||
| Q3 24 | $90.4M | $1.1B | ||
| Q2 24 | $91.1M | $1.2B | ||
| Q1 24 | $89.5M | $1.1B |
| Q4 25 | $-49.9M | $128.5M | ||
| Q3 25 | $-5.3M | $99.5M | ||
| Q2 25 | $50.9M | $107.0M | ||
| Q1 25 | $-33.3M | $119.1M | ||
| Q4 24 | $-10.3M | $118.5M | ||
| Q3 24 | $32.1M | $38.5M | ||
| Q2 24 | $-48.2M | $57.3M | ||
| Q1 24 | $22.6M | $48.7M |
| 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% | — | ||
| Q1 24 | 61.5% | — |
| Q4 25 | -64.1% | 11.6% | ||
| Q3 25 | -7.6% | 8.7% | ||
| Q2 25 | 64.7% | 9.8% | ||
| Q1 25 | -43.3% | 11.0% | ||
| Q4 24 | -19.7% | 11.5% | ||
| Q3 24 | 47.9% | 5.0% | ||
| Q2 24 | -69.0% | 6.1% | ||
| Q1 24 | 32.9% | 6.2% |
| Q4 25 | -49.9% | 8.8% | ||
| Q3 25 | -5.3% | 7.4% | ||
| Q2 25 | 50.6% | 7.3% | ||
| Q1 25 | -35.0% | 8.4% | ||
| Q4 24 | -11.3% | 8.7% | ||
| Q3 24 | 35.5% | 3.4% | ||
| Q2 24 | -52.9% | 4.7% | ||
| Q1 24 | 25.2% | 4.3% |
| Q4 25 | — | $2.86 | ||
| Q3 25 | — | $2.17 | ||
| Q2 25 | — | $2.31 | ||
| Q1 25 | — | $2.56 | ||
| Q4 24 | — | $2.61 | ||
| Q3 24 | — | $0.84 | ||
| Q2 24 | — | $1.22 | ||
| Q1 24 | — | $1.08 |
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 | $15.0M |
| 总债务越低越好 | — | $451.3M |
| 股东权益账面价值 | $523.4M | $379.3M |
| 总资产 | $1.0B | $2.7B |
| 负债/权益比越低杠杆越低 | — | 1.19× |
8季度趋势，按日历期对齐
| Q4 25 | $268.8M | $15.0M | ||
| Q3 25 | $272.5M | $33.6M | ||
| Q2 25 | $32.8M | $18.9M | ||
| Q1 25 | $28.7M | $17.5M | ||
| Q4 24 | $30.7M | $14.8M | ||
| Q3 24 | $29.9M | $16.2M | ||
| Q2 24 | $26.9M | $64.6M | ||
| Q1 24 | $34.5M | $15.5M |
| Q4 25 | — | $451.3M | ||
| Q3 25 | — | $525.8M | ||
| Q2 25 | — | $426.0M | ||
| Q1 25 | — | $518.3M | ||
| Q4 24 | — | $652.0M | ||
| Q3 24 | — | $806.9M | ||
| Q2 24 | — | $786.3M | ||
| Q1 24 | — | $818.5M |
| Q4 25 | $523.4M | $379.3M | ||
| Q3 25 | $580.3M | $343.9M | ||
| Q2 25 | $589.3M | $370.9M | ||
| Q1 25 | $539.8M | $259.0M | ||
| Q4 24 | $573.0M | $131.5M | ||
| Q3 24 | $601.8M | $12.7M | ||
| Q2 24 | $569.2M | $39.4M | ||
| Q1 24 | $618.6M | $-46.7M |
| Q4 25 | $1.0B | $2.7B | ||
| Q3 25 | $1.1B | $2.7B | ||
| Q2 25 | $863.6M | $2.7B | ||
| Q1 25 | $829.1M | $2.6B | ||
| Q4 24 | $866.1M | $2.6B | ||
| Q3 24 | $865.1M | $2.5B | ||
| Q2 24 | $809.1M | $2.6B | ||
| Q1 24 | $885.3M | $2.5B |
| Q4 25 | — | 1.19× | ||
| Q3 25 | — | 1.53× | ||
| Q2 25 | — | 1.15× | ||
| Q1 25 | — | 2.00× | ||
| Q4 24 | — | 4.96× | ||
| Q3 24 | — | 63.54× | ||
| Q2 24 | — | 19.96× | ||
| Q1 24 | — | — |
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 | $218.9M |
| 自由现金流经营现金流 - 资本支出 | $6.4M | $155.2M |
| 自由现金流率自由现金流/营收 | 6.4% | 10.7% |
| 资本支出强度资本支出/营收 | 11.4% | 4.4% |
| 现金转化率经营现金流/净利润 | — | 1.70× |
| 过去12个月自由现金流最近4个季度 | $76.6M | $455.9M |
8季度趋势，按日历期对齐
| Q4 25 | $17.8M | $218.9M | ||
| Q3 25 | $31.2M | $120.8M | ||
| Q2 25 | $42.1M | $186.0M | ||
| Q1 25 | $15.8M | $212.0M | ||
| Q4 24 | $18.0M | $218.2M | ||
| Q3 24 | $10.8M | $62.8M | ||
| Q2 24 | $1.8M | $141.5M | ||
| Q1 24 | $19.1M | $130.1M |
| Q4 25 | $6.4M | $155.2M | ||
| Q3 25 | $22.3M | $62.2M | ||
| Q2 25 | $39.4M | $106.1M | ||
| Q1 25 | $8.5M | $132.4M | ||
| Q4 24 | $10.9M | $168.9M | ||
| Q3 24 | $3.7M | $6.3M | ||
| Q2 24 | $-10.0M | $83.5M | ||
| Q1 24 | $14.5M | $78.7M |
| Q4 25 | 6.4% | 10.7% | ||
| Q3 25 | 22.4% | 4.6% | ||
| Q2 25 | 39.2% | 7.3% | ||
| Q1 25 | 8.9% | 9.3% | ||
| Q4 24 | 12.0% | 12.4% | ||
| Q3 24 | 4.1% | 0.6% | ||
| Q2 24 | -11.0% | 6.9% | ||
| Q1 24 | 16.2% | 7.0% |
| Q4 25 | 11.4% | 4.4% | ||
| Q3 25 | 9.0% | 4.3% | ||
| Q2 25 | 2.7% | 5.5% | ||
| Q1 25 | 7.7% | 5.6% | ||
| Q4 24 | 7.8% | 3.6% | ||
| Q3 24 | 7.8% | 5.0% | ||
| Q2 24 | 13.0% | 4.8% | ||
| Q1 24 | 5.1% | 4.6% |
| Q4 25 | — | 1.70× | ||
| Q3 25 | — | 1.21× | ||
| Q2 25 | 0.83× | 1.74× | ||
| Q1 25 | — | 1.78× | ||
| Q4 24 | — | 1.84× | ||
| Q3 24 | 0.33× | 1.63× | ||
| Q2 24 | — | 2.47× | ||
| Q1 24 | 0.85× | 2.67× |
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% |
EAT
| Chilis Restaurants | $1.3B | 91% |
| Maggianos Restaurants | $134.9M | 9% |
| Franchise Revenues | $13.4M | 1% |
