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Cboe Global Markets（CBOE）与Texas Roadhouse, Inc.（TXRH）财务数据对比。点击上方公司名可切换其他公司
Texas Roadhouse, Inc.的季度营收约是Cboe Global Markets的1.2倍（$1.5B vs $1.2B），Cboe Global Markets净利率更高（26.0% vs 5.8%，领先20.2%），Cboe Global Markets同比增速更快（8.7% vs 3.1%），过去两年Texas Roadhouse, Inc.的营收复合增速更高（12.8% vs 12.2%）
Cboe Global Markets是总部位于美国芝加哥的金融交易所运营集团，旗下拥有并运营多类交易所及交易场所，业务覆盖股票、期权、期货、数字资产等多个交易领域，为全球市场参与者提供专业交易服务支持。
Texas Roadhouse是美国知名牛排连锁餐厅，主打德克萨斯及美国西南部风味餐食，核心产品为各类牛排。品牌总部位于肯塔基州路易斯维尔，旗下还运营另外两个餐饮品牌。截至2025年8月，品牌在美国49个州拥有约800家门店，同时在11个国家开设了70家海外门店。
CBOE vs TXRH — 直观对比
营收规模更大
TXRH
是对方的1.2倍
$1.2B
营收增速更快
CBOE
高出5.6%
3.1%
净利率更高
CBOE
高出20.2%
5.8%
两年增速更快
TXRH
近两年复合增速
12.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.5B |
| 净利润 | $313.5M | $86.7M |
| 毛利率 | 55.7% | — |
| 营业利润率 | 33.5% | 6.5% |
| 净利率 | 26.0% | 5.8% |
| 营收同比 | 8.7% | 3.1% |
| 净利润同比 | 59.5% | -26.9% |
| 每股收益（稀释后） | $2.97 | $1.29 |
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CBOETXRH
| Q4 25 | $1.2B | $1.5B | ||
| Q3 25 | $1.1B | $1.4B | ||
| Q2 25 | $1.2B | $1.4B | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.1B | $1.4B | ||
| Q3 24 | $1.1B | $1.3B | ||
| Q2 24 | $974.0M | $1.3B | ||
| Q1 24 | $957.2M | $1.3B |
净利润CBOETXRH
| Q4 25 | $313.5M | $86.7M | ||
| Q3 25 | $300.8M | $84.9M | ||
| Q2 25 | $235.1M | $116.1M | ||
| Q1 25 | $250.6M | — | ||
| Q4 24 | $196.5M | $118.5M | ||
| Q3 24 | $218.5M | $86.8M | ||
| Q2 24 | $140.4M | $123.1M | ||
| Q1 24 | $209.5M | $116.0M |
毛利率CBOETXRH
| Q4 25 | 55.7% | — | ||
| Q3 25 | 53.0% | — | ||
| Q2 25 | 50.0% | — | ||
| Q1 25 | 47.3% | — | ||
| Q4 24 | 47.4% | — | ||
| Q3 24 | 50.4% | — | ||
| Q2 24 | 52.8% | — | ||
| Q1 24 | 52.5% | — |
营业利润率CBOETXRH
| Q4 25 | 33.5% | 6.5% | ||
| Q3 25 | 32.4% | 6.7% | ||
| Q2 25 | 28.9% | 9.3% | ||
| Q1 25 | 29.6% | — | ||
| Q4 24 | 27.0% | 9.6% | ||
| Q3 24 | 29.1% | 8.0% | ||
| Q2 24 | 21.6% | 10.6% | ||
| Q1 24 | 29.5% | 10.1% |
净利率CBOETXRH
| Q4 25 | 26.0% | 5.8% | ||
| Q3 25 | 26.3% | 5.9% | ||
| Q2 25 | 20.0% | 8.0% | ||
| Q1 25 | 21.0% | — | ||
| Q4 24 | 17.7% | 8.2% | ||
| Q3 24 | 20.7% | 6.8% | ||
| Q2 24 | 14.4% | 9.2% | ||
| Q1 24 | 21.9% | 8.8% |
每股收益（稀释后）CBOETXRH
| Q4 25 | $2.97 | $1.29 | ||
| Q3 25 | $2.85 | $1.25 | ||
| Q2 25 | $2.23 | $1.70 | ||
| Q1 25 | $2.37 | — | ||
| Q4 24 | $1.85 | $1.73 | ||
| Q3 24 | $2.07 | $1.26 | ||
| Q2 24 | $1.33 | $1.79 | ||
| Q1 24 | $1.96 | $1.69 |
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 | $2.3B | $134.7M |
| 总债务越低越好 | $1.4B | — |
| 股东权益账面价值 | $5.1B | $1.5B |
| 总资产 | $9.3B | $3.5B |
| 负债/权益比越低杠杆越低 | 0.28× | — |
8季度趋势，按日历期对齐
现金及短期投资CBOETXRH
| Q4 25 | $2.3B | $134.7M | ||
| Q3 25 | $1.5B | $108.2M | ||
| Q2 25 | $1.5B | $221.1M | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.0B | $245.2M | ||
| Q3 24 | $763.2M | $189.2M | ||
| Q2 24 | $698.3M | $197.5M | ||
| Q1 24 | $595.1M | $213.4M |
总债务CBOETXRH
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.4B | — | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.4B | — |
股东权益CBOETXRH
| Q4 25 | $5.1B | $1.5B | ||
| Q3 25 | $4.9B | $1.5B | ||
| Q2 25 | $4.7B | $1.4B | ||
| Q1 25 | $4.5B | — | ||
| Q4 24 | $4.3B | $1.4B | ||
| Q3 24 | $4.2B | $1.3B | ||
| Q2 24 | $4.0B | $1.3B | ||
| Q1 24 | $4.0B | $1.2B |
总资产CBOETXRH
| Q4 25 | $9.3B | $3.5B | ||
| Q3 25 | $9.1B | $3.3B | ||
| Q2 25 | $9.0B | $3.2B | ||
| Q1 25 | $8.7B | — | ||
| Q4 24 | $7.8B | $3.2B | ||
| Q3 24 | $8.7B | $2.9B | ||
| Q2 24 | $9.3B | $2.9B | ||
| Q1 24 | $8.2B | $2.8B |
负债/权益比CBOETXRH
| Q4 25 | 0.28× | — | ||
| Q3 25 | 0.30× | — | ||
| Q2 25 | 0.31× | — | ||
| Q1 25 | 0.32× | — | ||
| Q4 24 | 0.34× | — | ||
| Q3 24 | 0.34× | — | ||
| Q2 24 | 0.36× | — | ||
| Q1 24 | 0.36× | — |
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 | $352.1M | — |
| 自由现金流经营现金流 - 资本支出 | $332.1M | — |
| 自由现金流率自由现金流/营收 | 27.6% | — |
| 资本支出强度资本支出/营收 | 1.7% | — |
| 现金转化率经营现金流/净利润 | 1.12× | — |
| 过去12个月自由现金流最近4个季度 | $1.7B | — |
8季度趋势，按日历期对齐
经营现金流CBOETXRH
| Q4 25 | $352.1M | — | ||
| Q3 25 | $153.9M | $143.6M | ||
| Q2 25 | $333.7M | $237.7M | ||
| Q1 25 | $912.9M | — | ||
| Q4 24 | $-710.4M | $237.5M | ||
| Q3 24 | $-578.5M | $138.7M | ||
| Q2 24 | $1.5B | $133.9M | ||
| Q1 24 | $895.6M | $243.4M |
自由现金流CBOETXRH
| Q4 25 | $332.1M | — | ||
| Q3 25 | $137.9M | $14.7M | ||
| Q2 25 | $313.4M | $160.4M | ||
| Q1 25 | $898.2M | — | ||
| Q4 24 | $-734.2M | $129.7M | ||
| Q3 24 | $-590.5M | $47.7M | ||
| Q2 24 | $1.5B | $56.1M | ||
| Q1 24 | $888.3M | $165.8M |
自由现金流率CBOETXRH
| Q4 25 | 27.6% | — | ||
| Q3 25 | 12.1% | 1.0% | ||
| Q2 25 | 26.7% | 11.1% | ||
| Q1 25 | 75.2% | — | ||
| Q4 24 | -66.3% | 9.0% | ||
| Q3 24 | -55.9% | 3.7% | ||
| Q2 24 | 151.6% | 4.2% | ||
| Q1 24 | 92.8% | 12.5% |
资本支出强度CBOETXRH
| Q4 25 | 1.7% | — | ||
| Q3 25 | 1.4% | 9.0% | ||
| Q2 25 | 1.7% | 5.3% | ||
| Q1 25 | 1.2% | — | ||
| Q4 24 | 2.1% | 7.5% | ||
| Q3 24 | 1.1% | 7.2% | ||
| Q2 24 | 1.8% | 5.8% | ||
| Q1 24 | 0.8% | 5.9% |
现金转化率CBOETXRH
| Q4 25 | 1.12× | — | ||
| Q3 25 | 0.51× | 1.69× | ||
| Q2 25 | 1.42× | 2.05× | ||
| Q1 25 | 3.64× | — | ||
| Q4 24 | -3.62× | 2.00× | ||
| Q3 24 | -2.65× | 1.60× | ||
| Q2 24 | 10.64× | 1.09× | ||
| Q1 24 | 4.27× | 2.10× |
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
CBOE
| Liquidity Payments | $443.6M | 37% |
| Cash And Spot Markets | $431.3M | 36% |
| Transferred Over Time | $84.3M | 7% |
| Market Data Fees | $82.7M | 7% |
| Royalty Fees | $68.9M | 6% |
| Futures | $36.1M | 3% |
| Global FX | $24.4M | 2% |
| Other Revenue | $23.1M | 2% |
| Routing And Clearing | $20.1M | 2% |
TXRH
| Food And Beverage | $1.5B | 99% |
| Texas Roadhouse Segment | $21.2M | 1% |
| Franchise | $8.2M | 1% |
| Franchise Royalty | $7.4M | 0% |
| Bubba S33Segment | $2.3M | 0% |
