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CRACKER BARREL OLD COUNTRY STORE, INC（CBRL）与Restaurant Brands International Inc.（QSR）财务数据对比。点击上方公司名可切换其他公司
Restaurant Brands International Inc.的季度营收约是CRACKER BARREL OLD COUNTRY STORE, INC的3.1倍（$2.5B vs $797.2M），Restaurant Brands International Inc.净利率更高（6.3% vs -3.1%，领先9.4%），Restaurant Brands International Inc.同比增速更快（7.4% vs -10.9%），Restaurant Brands International Inc.自由现金流更多（$453.0M vs $-88.9M），过去两年Restaurant Brands International Inc.的营收复合增速更高（19.1% vs -2.4%）
Cracker Barrel是源自美国南方乡村风格的连锁餐厅与礼品店品牌，1969年由丹·埃文斯与汤米·洛创立，总部位于田纳西州黎巴嫩。品牌最初门店多开设在美国东南部和中西部的高速公路出口附近，于上世纪90年代至21世纪初逐步扩张至全美各地。
Restaurant Brands International（简称RBI）是美加合资的跨国快餐控股企业，2014年由汉堡王与加拿大咖啡连锁品牌蒂姆·霍顿斯以125亿美元合并成立，后续先后收购Popeyes、Firehouse Subs两大品牌，现为全球第五大快餐运营商，规模仅次于赛百味、麦当劳、星巴克和百胜餐饮。
CBRL vs QSR — 直观对比
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $797.2M | $2.5B |
| 净利润 | $-24.6M | $155.0M |
| 毛利率 | 68.8% | — |
| 营业利润率 | -4.1% | 25.2% |
| 净利率 | -3.1% | 6.3% |
| 营收同比 | -10.9% | 7.4% |
| 净利润同比 | -235.7% | -57.1% |
| 每股收益（稀释后） | $-1.10 | $0.33 |
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 | $797.2M | $2.5B | ||
| Q3 25 | — | $2.4B | ||
| Q2 25 | $821.1M | $2.4B | ||
| Q1 25 | $949.4M | $2.1B | ||
| Q4 24 | — | $2.3B | ||
| Q3 24 | $894.4M | $2.3B | ||
| Q2 24 | $817.1M | $2.1B | ||
| Q1 24 | $935.4M | $1.7B |
| Q4 25 | $-24.6M | $155.0M | ||
| Q3 25 | — | $436.0M | ||
| Q2 25 | $12.6M | $263.0M | ||
| Q1 25 | $22.2M | $221.0M | ||
| Q4 24 | — | $361.0M | ||
| Q3 24 | $18.1M | $357.0M | ||
| Q2 24 | $-9.2M | $399.0M | ||
| Q1 24 | $26.5M | $328.0M |
| Q4 25 | 68.8% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 69.9% | — | ||
| Q1 25 | 67.4% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 69.6% | — | ||
| Q2 24 | 70.0% | — | ||
| Q1 24 | 66.3% | 65.2% |
| Q4 25 | -4.1% | 25.2% | ||
| Q3 25 | — | 27.1% | ||
| Q2 25 | 1.8% | 20.0% | ||
| Q1 25 | 3.1% | 20.6% | ||
| Q4 24 | — | 27.7% | ||
| Q3 24 | 2.5% | 25.2% | ||
| Q2 24 | -2.4% | 31.9% | ||
| Q1 24 | 3.3% | 31.3% |
| Q4 25 | -3.1% | 6.3% | ||
| Q3 25 | — | 17.8% | ||
| Q2 25 | 1.5% | 10.9% | ||
| Q1 25 | 2.3% | 10.5% | ||
| Q4 24 | — | 15.7% | ||
| Q3 24 | 2.0% | 15.6% | ||
| Q2 24 | -1.1% | 19.2% | ||
| Q1 24 | 2.8% | 18.9% |
| Q4 25 | $-1.10 | $0.33 | ||
| Q3 25 | — | $0.96 | ||
| Q2 25 | $0.56 | $0.57 | ||
| Q1 25 | $0.99 | $0.49 | ||
| Q4 24 | — | $0.79 | ||
| Q3 24 | $0.80 | $0.79 | ||
| Q2 24 | $-0.41 | $0.88 | ||
| Q1 24 | $1.19 | $0.72 |
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 | $8.9M | — |
| 总债务越低越好 | — | $13.3B |
| 股东权益账面价值 | $428.8M | $3.6B |
| 总资产 | $2.2B | $25.6B |
| 负债/权益比越低杠杆越低 | — | 3.65× |
8季度趋势，按日历期对齐
| Q4 25 | $8.9M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $9.8M | — | ||
| Q1 25 | $10.3M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $12.0M | — | ||
| Q2 24 | $11.9M | — | ||
| Q1 24 | $12.6M | — |
| Q4 25 | — | $13.3B | ||
| Q3 25 | — | $13.5B | ||
| Q2 25 | — | $13.6B | ||
| Q1 25 | — | $13.6B | ||
| Q4 24 | — | $13.6B | ||
| Q3 24 | — | $13.7B | ||
| Q2 24 | — | $13.7B | ||
| Q1 24 | — | $12.9B |
| Q4 25 | $428.8M | $3.6B | ||
| Q3 25 | — | $3.4B | ||
| Q2 25 | $469.3M | $3.3B | ||
| Q1 25 | $460.9M | $3.1B | ||
| Q4 24 | — | $3.1B | ||
| Q3 24 | $440.1M | $3.2B | ||
| Q2 24 | $426.6M | $3.1B | ||
| Q1 24 | $462.0M | $3.0B |
| Q4 25 | $2.2B | $25.6B | ||
| Q3 25 | — | $25.7B | ||
| Q2 25 | $2.1B | $25.7B | ||
| Q1 25 | $2.1B | $24.9B | ||
| Q4 24 | — | $24.6B | ||
| Q3 24 | $2.2B | $25.1B | ||
| Q2 24 | $2.2B | $24.8B | ||
| Q1 24 | $2.2B | $23.1B |
| Q4 25 | — | 3.65× | ||
| Q3 25 | — | 3.99× | ||
| Q2 25 | — | 4.10× | ||
| Q1 25 | — | 4.37× | ||
| Q4 24 | — | 4.39× | ||
| Q3 24 | — | 4.22× | ||
| Q2 24 | — | 4.46× | ||
| Q1 24 | — | 4.35× |
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 | $-53.4M | $555.0M |
| 自由现金流经营现金流 - 资本支出 | $-88.9M | $453.0M |
| 自由现金流率自由现金流/营收 | -11.2% | 18.4% |
| 资本支出强度资本支出/营收 | 4.5% | 4.1% |
| 现金转化率经营现金流/净利润 | — | 3.58× |
| 过去12个月自由现金流最近4个季度 | — | $1.4B |
8季度趋势，按日历期对齐
| Q4 25 | $-53.4M | $555.0M | ||
| Q3 25 | — | $592.0M | ||
| Q2 25 | $23.0M | $449.0M | ||
| Q1 25 | — | $118.0M | ||
| Q4 24 | — | $481.0M | ||
| Q3 24 | $69.5M | $540.0M | ||
| Q2 24 | $37.6M | $334.0M | ||
| Q1 24 | $77.7M | $148.0M |
| Q4 25 | $-88.9M | $453.0M | ||
| Q3 25 | — | $531.0M | ||
| Q2 25 | $-13.6M | $411.0M | ||
| Q1 25 | — | $54.0M | ||
| Q4 24 | — | $404.0M | ||
| Q3 24 | $22.1M | $485.0M | ||
| Q2 24 | $8.2M | $291.0M | ||
| Q1 24 | $50.9M | $122.0M |
| Q4 25 | -11.2% | 18.4% | ||
| Q3 25 | — | 21.7% | ||
| Q2 25 | -1.7% | 17.1% | ||
| Q1 25 | — | 2.6% | ||
| Q4 24 | — | 17.6% | ||
| Q3 24 | 2.5% | 21.2% | ||
| Q2 24 | 1.0% | 14.0% | ||
| Q1 24 | 5.4% | 7.0% |
| Q4 25 | 4.5% | 4.1% | ||
| Q3 25 | — | 2.5% | ||
| Q2 25 | 4.5% | 1.6% | ||
| Q1 25 | — | 3.0% | ||
| Q4 24 | — | 3.4% | ||
| Q3 24 | 5.3% | 2.4% | ||
| Q2 24 | 3.6% | 2.1% | ||
| Q1 24 | 2.9% | 1.5% |
| Q4 25 | — | 3.58× | ||
| Q3 25 | — | 1.36× | ||
| Q2 25 | 1.83× | 1.71× | ||
| Q1 25 | — | 0.53× | ||
| Q4 24 | — | 1.33× | ||
| Q3 24 | 3.83× | 1.51× | ||
| Q2 24 | — | 0.84× | ||
| Q1 24 | 2.93× | 0.45× |
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
CBRL
| Restaurant | $650.6M | 82% |
| Retail | $146.6M | 18% |
QSR
| CA | $1.0B | 41% |
| Other | $330.0M | 13% |
| Advertising | $308.0M | 12% |
| Others | $284.0M | 12% |
| Popeyes Louisiana Kitchen | $195.0M | 8% |
| Burger King | $185.0M | 8% |
| Royalty | $87.0M | 4% |
| Firehouse Subs | $59.0M | 2% |
| Franchisor | $7.0M | 0% |
