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CHEESECAKE FACTORY INC（CAKE）与Meritage Homes CORP（MTH）财务数据对比。点击上方公司名可切换其他公司
Meritage Homes CORP的季度营收约是CHEESECAKE FACTORY INC的1.6倍（$1.4B vs $907.2M），Meritage Homes CORP净利率更高（17.7% vs 3.5%，领先14.2%），Meritage Homes CORP同比增速更快（10.5% vs 0.4%），CHEESECAKE FACTORY INC自由现金流更多（$69.2M vs $-225.4M）
芝士蛋糕工厂（The Cheesecake Factory）是美国知名的餐饮连锁及芝士蛋糕分销企业，目前在全球运营370家全服务餐厅，其中218家为芝士蛋糕工厂品牌门店，47家为North Italia品牌门店，其余105家为其他品牌门店。此外公司在加利福尼亚州卡拉巴萨斯及北卡罗来纳州落基山城设有两座烘焙生产基地。
Meritage Homes Corporation是美国上市房地产开发企业，主营全美范围内各类独栋住宅建造业务，按2023年房屋销量计算为美国第五大住宅建筑商，同时在亚利桑那州开发活跃长者社区及高端地产项目。
CAKE vs MTH — 直观对比
营收规模更大
MTH
是对方的1.6倍
$907.2M
营收增速更快
MTH
高出10.2%
0.4%
净利率更高
MTH
高出14.2%
3.5%
自由现金流更多
CAKE
多$294.7M
$-225.4M
损益表 — Q3 FY2025 vs Q2 FY2022
| 指标 | | |
|---|---|---|
| 营收 | $907.2M | $1.4B |
| 净利润 | $31.9M | $250.1M |
| 毛利率 | — | 31.5% |
| 营业利润率 | 4.1% | 23.5% |
| 净利率 | 3.5% | 17.7% |
| 营收同比 | 0.4% | 10.5% |
| 净利润同比 | -39.2% | 49.4% |
| 每股收益（稀释后） | $0.66 | $6.77 |
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CAKEMTH
| Q3 25 | $907.2M | — | ||
| Q2 25 | $927.2M | — | ||
| Q4 24 | $865.5M | — | ||
| Q3 24 | $904.0M | — | ||
| Q2 24 | $891.2M | — | ||
| Q1 24 | $877.0M | — | ||
| Q4 23 | $830.2M | — | ||
| Q3 23 | $866.2M | — |
净利润CAKEMTH
| Q3 25 | $31.9M | — | ||
| Q2 25 | $32.9M | — | ||
| Q4 24 | $30.0M | — | ||
| Q3 24 | $52.4M | — | ||
| Q2 24 | $33.2M | — | ||
| Q1 24 | $12.7M | — | ||
| Q4 23 | $17.9M | — | ||
| Q3 23 | $42.7M | — |
营业利润率CAKEMTH
| Q3 25 | 4.1% | — | ||
| Q2 25 | 5.6% | — | ||
| Q4 24 | 3.9% | — | ||
| Q3 24 | 6.5% | — | ||
| Q2 24 | 4.4% | — | ||
| Q1 24 | 0.9% | — | ||
| Q4 23 | 2.3% | — | ||
| Q3 23 | 5.5% | — |
净利率CAKEMTH
| Q3 25 | 3.5% | — | ||
| Q2 25 | 3.6% | — | ||
| Q4 24 | 3.5% | — | ||
| Q3 24 | 5.8% | — | ||
| Q2 24 | 3.7% | — | ||
| Q1 24 | 1.4% | — | ||
| Q4 23 | 2.2% | — | ||
| Q3 23 | 4.9% | — |
每股收益（稀释后）CAKEMTH
| Q3 25 | $0.66 | — | ||
| Q2 25 | $0.67 | — | ||
| Q4 24 | $0.61 | — | ||
| Q3 24 | $1.08 | — | ||
| Q2 24 | $0.68 | — | ||
| Q1 24 | $0.27 | — | ||
| Q4 23 | $0.37 | — | ||
| Q3 23 | $0.87 | — |
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 | $190.0M | $272.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $425.3M | $3.4B |
| 总资产 | $3.2B | $5.3B |
| 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CAKEMTH
| Q3 25 | $190.0M | — | ||
| Q2 25 | $135.4M | — | ||
| Q4 24 | $52.2M | — | ||
| Q3 24 | $40.7M | — | ||
| Q2 24 | $60.2M | — | ||
| Q1 24 | $56.3M | — | ||
| Q4 23 | $64.0M | — | ||
| Q3 23 | $91.6M | — |
股东权益CAKEMTH
| Q3 25 | $425.3M | — | ||
| Q2 25 | $339.4M | — | ||
| Q4 24 | $396.4M | — | ||
| Q3 24 | $374.0M | — | ||
| Q2 24 | $332.4M | — | ||
| Q1 24 | $318.1M | — | ||
| Q4 23 | $321.6M | — | ||
| Q3 23 | $325.9M | — |
总资产CAKEMTH
| Q3 25 | $3.2B | — | ||
| Q2 25 | $3.1B | — | ||
| Q4 24 | $2.9B | — | ||
| Q3 24 | $2.9B | — | ||
| Q2 24 | $2.8B | — | ||
| Q1 24 | $2.8B | — | ||
| Q4 23 | $2.8B | — | ||
| Q3 23 | $2.8B | — |
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 | $147.5M | $-219.0M |
| 自由现金流经营现金流 - 资本支出 | $69.2M | $-225.4M |
| 自由现金流率自由现金流/营收 | 7.6% | -16.0% |
| 资本支出强度资本支出/营收 | 8.6% | 0.5% |
| 现金转化率经营现金流/净利润 | 4.62× | -0.88× |
| 过去12个月自由现金流最近4个季度 | $129.5M | — |
8季度趋势，按日历期对齐
经营现金流CAKEMTH
| Q3 25 | $147.5M | — | ||
| Q2 25 | $78.9M | — | ||
| Q4 24 | $79.9M | — | ||
| Q3 24 | $27.7M | — | ||
| Q2 24 | $66.7M | — | ||
| Q1 24 | $67.9M | — | ||
| Q4 23 | $49.0M | — | ||
| Q3 23 | $36.5M | — |
自由现金流CAKEMTH
| Q3 25 | $69.2M | — | ||
| Q2 25 | $36.1M | — | ||
| Q4 24 | $25.7M | — | ||
| Q3 24 | $-1.5M | — | ||
| Q2 24 | $29.6M | — | ||
| Q1 24 | $16.2M | — | ||
| Q4 23 | $11.8M | — | ||
| Q3 23 | $11.8M | — |
自由现金流率CAKEMTH
| Q3 25 | 7.6% | — | ||
| Q2 25 | 3.9% | — | ||
| Q4 24 | 3.0% | — | ||
| Q3 24 | -0.2% | — | ||
| Q2 24 | 3.3% | — | ||
| Q1 24 | 1.8% | — | ||
| Q4 23 | 1.4% | — | ||
| Q3 23 | 1.4% | — |
资本支出强度CAKEMTH
| Q3 25 | 8.6% | — | ||
| Q2 25 | 4.6% | — | ||
| Q4 24 | 6.3% | — | ||
| Q3 24 | 3.2% | — | ||
| Q2 24 | 4.2% | — | ||
| Q1 24 | 5.9% | — | ||
| Q4 23 | 4.5% | — | ||
| Q3 23 | 2.9% | — |
现金转化率CAKEMTH
| Q3 25 | 4.62× | — | ||
| Q2 25 | 2.40× | — | ||
| Q4 24 | 2.66× | — | ||
| Q3 24 | 0.53× | — | ||
| Q2 24 | 2.01× | — | ||
| Q1 24 | 5.35× | — | ||
| Q4 23 | 2.73× | — | ||
| Q3 23 | 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
CAKE
| The Cheesecake Factory | $651.4M | 72% |
| Other | $94.4M | 10% |
| North Italia | $83.5M | 9% |
| Other Fox Restaurant Concepts Llc | $78.0M | 9% |
MTH
| Home Building | $1.4B | 100% |
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $9.8M | 1% |
| Financial Service | $5.1M | 0% |
| Land Closing | $3.4M | 0% |
