vs
Chefs' Warehouse, Inc.（CHEF）与Hilton Grand Vacations Inc.（HGV）财务数据对比。点击上方公司名可切换其他公司
Hilton Grand Vacations Inc.的季度营收约是Chefs' Warehouse, Inc.的1.0倍（$1.2B vs $1.1B），Hilton Grand Vacations Inc.净利率更高（4.0% vs 1.9%，领先2.1%），Chefs' Warehouse, Inc.同比增速更快（10.5% vs 3.7%），Hilton Grand Vacations Inc.自由现金流更多（$147.0M vs $65.8M），过去两年Chefs' Warehouse, Inc.的营收复合增速更高（14.3% vs 7.4%）
Chefs' Warehouse, Inc. 是一家北美专业食品分销商，服务对象包括独立餐厅、高端餐饮场所、酒店、餐饮服务商等食品服务运营商，供应超15万种精选产品，涵盖手工食材、特色肉类、海鲜、乳制品、进口高端美食等，适配专业厨师的使用需求。
希尔顿度假大酒店公司（Hilton Grand Vacations Inc.）总部位于美国佛罗里达州奥兰多，是一家跨国企业。该公司通过与希尔顿全球的独家授权协议，运营管理希尔顿旗下的分时度假和度假所有权品牌。其原为希尔顿全球的全资子公司，2017年分拆为独立上市公司。
CHEF vs HGV — 直观对比
营收规模更大
HGV
是对方的1.0倍
$1.1B
营收增速更快
CHEF
高出6.8%
3.7%
净利率更高
HGV
高出2.1%
1.9%
自由现金流更多
HGV
多$81.2M
$65.8M
两年增速更快
CHEF
近两年复合增速
7.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.2B |
| 净利润 | $21.7M | $48.0M |
| 毛利率 | 24.2% | — |
| 营业利润率 | 3.8% | 7.8% |
| 净利率 | 1.9% | 4.0% |
| 营收同比 | 10.5% | 3.7% |
| 净利润同比 | -9.4% | 140.0% |
| 每股收益（稀释后） | $0.50 | $0.53 |
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CHEFHGV
| Q4 25 | $1.1B | $1.2B | ||
| Q3 25 | $1.0B | $1.2B | ||
| Q2 25 | $1.0B | $1.1B | ||
| Q1 25 | $950.7M | $1.0B | ||
| Q4 24 | $1.0B | $1.1B | ||
| Q3 24 | $931.5M | $1.2B | ||
| Q2 24 | $954.7M | $1.1B | ||
| Q1 24 | $874.5M | $1.0B |
净利润CHEFHGV
| Q4 25 | $21.7M | $48.0M | ||
| Q3 25 | $19.1M | $25.0M | ||
| Q2 25 | $21.2M | $25.0M | ||
| Q1 25 | $10.3M | $-17.0M | ||
| Q4 24 | $23.9M | $20.0M | ||
| Q3 24 | $14.1M | $29.0M | ||
| Q2 24 | $15.5M | $2.0M | ||
| Q1 24 | $1.9M | $-4.0M |
毛利率CHEFHGV
| Q4 25 | 24.2% | — | ||
| Q3 25 | 24.2% | — | ||
| Q2 25 | 24.6% | — | ||
| Q1 25 | 23.8% | — | ||
| Q4 24 | 24.3% | — | ||
| Q3 24 | 24.1% | — | ||
| Q2 24 | 24.0% | — | ||
| Q1 24 | 23.9% | — |
营业利润率CHEFHGV
| Q4 25 | 3.8% | 7.8% | ||
| Q3 25 | 3.8% | 3.9% | ||
| Q2 25 | 3.9% | 3.8% | ||
| Q1 25 | 2.4% | -0.6% | ||
| Q4 24 | 4.5% | 4.3% | ||
| Q3 24 | 3.4% | 7.9% | ||
| Q2 24 | 3.5% | 0.6% | ||
| Q1 24 | 1.8% | -1.3% |
净利率CHEFHGV
| Q4 25 | 1.9% | 4.0% | ||
| Q3 25 | 1.9% | 2.1% | ||
| Q2 25 | 2.1% | 2.2% | ||
| Q1 25 | 1.1% | -1.7% | ||
| Q4 24 | 2.3% | 1.7% | ||
| Q3 24 | 1.5% | 2.5% | ||
| Q2 24 | 1.6% | 0.2% | ||
| Q1 24 | 0.2% | -0.4% |
每股收益（稀释后）CHEFHGV
| Q4 25 | $0.50 | $0.53 | ||
| Q3 25 | $0.44 | $0.28 | ||
| Q2 25 | $0.49 | $0.25 | ||
| Q1 25 | $0.25 | $-0.17 | ||
| Q4 24 | $0.56 | $0.19 | ||
| Q3 24 | $0.34 | $0.28 | ||
| Q2 24 | $0.37 | $0.02 | ||
| Q1 24 | $0.05 | $-0.04 |
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 | $121.0M | $239.0M |
| 总债务越低越好 | $720.3M | $4.5B |
| 股东权益账面价值 | $604.3M | $1.3B |
| 总资产 | $2.0B | $11.5B |
| 负债/权益比越低杠杆越低 | 1.19× | 3.53× |
8季度趋势，按日历期对齐
现金及短期投资CHEFHGV
| Q4 25 | $121.0M | $239.0M | ||
| Q3 25 | $65.1M | $215.0M | ||
| Q2 25 | $96.9M | $269.0M | ||
| Q1 25 | $116.5M | $259.0M | ||
| Q4 24 | $114.7M | $328.0M | ||
| Q3 24 | $50.7M | $297.0M | ||
| Q2 24 | $38.3M | $328.0M | ||
| Q1 24 | $42.3M | $355.0M |
总债务CHEFHGV
| Q4 25 | $720.3M | $4.5B | ||
| Q3 25 | $711.7M | $4.7B | ||
| Q2 25 | $690.2M | $4.6B | ||
| Q1 25 | $681.1M | $4.5B | ||
| Q4 24 | $688.7M | $4.6B | ||
| Q3 24 | $666.6M | $5.0B | ||
| Q2 24 | $660.8M | $4.9B | ||
| Q1 24 | $667.3M | $5.1B |
股东权益CHEFHGV
| Q4 25 | $604.3M | $1.3B | ||
| Q3 25 | $576.6M | $1.4B | ||
| Q2 25 | $557.7M | $1.5B | ||
| Q1 25 | $541.6M | $1.6B | ||
| Q4 24 | $537.6M | $1.8B | ||
| Q3 24 | $480.3M | $1.8B | ||
| Q2 24 | $461.9M | $1.9B | ||
| Q1 24 | $447.8M | $2.0B |
总资产CHEFHGV
| Q4 25 | $2.0B | $11.5B | ||
| Q3 25 | $1.9B | $11.7B | ||
| Q2 25 | $1.9B | $11.7B | ||
| Q1 25 | $1.8B | $11.8B | ||
| Q4 24 | $1.9B | $11.4B | ||
| Q3 24 | $1.8B | $11.2B | ||
| Q2 24 | $1.7B | $11.5B | ||
| Q1 24 | $1.7B | $11.7B |
负债/权益比CHEFHGV
| Q4 25 | 1.19× | 3.53× | ||
| Q3 25 | 1.23× | 3.41× | ||
| Q2 25 | 1.24× | 3.07× | ||
| Q1 25 | 1.26× | 2.83× | ||
| Q4 24 | 1.28× | 2.63× | ||
| Q3 24 | 1.39× | 2.73× | ||
| Q2 24 | 1.43× | 2.55× | ||
| Q1 24 | 1.49× | 2.57× |
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 | $73.9M | $167.0M |
| 自由现金流经营现金流 - 资本支出 | $65.8M | $147.0M |
| 自由现金流率自由现金流/营收 | 5.8% | 12.3% |
| 资本支出强度资本支出/营收 | 0.7% | 1.7% |
| 现金转化率经营现金流/净利润 | 3.41× | 3.48× |
| 过去12个月自由现金流最近4个季度 | $87.8M | $230.0M |
8季度趋势，按日历期对齐
经营现金流CHEFHGV
| Q4 25 | $73.9M | $167.0M | ||
| Q3 25 | $-8.7M | $34.0M | ||
| Q2 25 | $14.5M | $61.0M | ||
| Q1 25 | $49.6M | $38.0M | ||
| Q4 24 | $73.0M | $105.0M | ||
| Q3 24 | $19.8M | $91.0M | ||
| Q2 24 | $29.3M | $113.0M | ||
| Q1 24 | $30.9M | $0 |
自由现金流CHEFHGV
| Q4 25 | $65.8M | $147.0M | ||
| Q3 25 | $-19.7M | $13.0M | ||
| Q2 25 | $4.5M | $46.0M | ||
| Q1 25 | $37.2M | $24.0M | ||
| Q4 24 | $64.6M | $90.0M | ||
| Q3 24 | $11.8M | $81.0M | ||
| Q2 24 | $13.3M | $106.0M | ||
| Q1 24 | $13.8M | — |
自由现金流率CHEFHGV
| Q4 25 | 5.8% | 12.3% | ||
| Q3 25 | -1.9% | 1.1% | ||
| Q2 25 | 0.4% | 4.0% | ||
| Q1 25 | 3.9% | 2.4% | ||
| Q4 24 | 6.3% | 7.8% | ||
| Q3 24 | 1.3% | 6.9% | ||
| Q2 24 | 1.4% | 9.6% | ||
| Q1 24 | 1.6% | — |
资本支出强度CHEFHGV
| Q4 25 | 0.7% | 1.7% | ||
| Q3 25 | 1.1% | 1.8% | ||
| Q2 25 | 1.0% | 1.3% | ||
| Q1 25 | 1.3% | 1.4% | ||
| Q4 24 | 0.8% | 1.3% | ||
| Q3 24 | 0.9% | 0.9% | ||
| Q2 24 | 1.7% | 0.6% | ||
| Q1 24 | 2.0% | 1.0% |
现金转化率CHEFHGV
| Q4 25 | 3.41× | 3.48× | ||
| Q3 25 | -0.46× | 1.36× | ||
| Q2 25 | 0.68× | 2.44× | ||
| Q1 25 | 4.82× | — | ||
| Q4 24 | 3.05× | 5.25× | ||
| Q3 24 | 1.41× | 3.14× | ||
| Q2 24 | 1.89× | 56.50× | ||
| Q1 24 | 16.00× | — |
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
CHEF
| Center Of The Plate Product | $459.1M | 40% |
| Dry Goods Product | $175.7M | 15% |
| Pastry Product | $160.5M | 14% |
| Produce | $147.9M | 13% |
| Cheese And Charcuterie Product | $75.3M | 7% |
| Dairy And Eggs Product | $69.2M | 6% |
| Oils And Vinegar Product | $32.4M | 3% |
| Kitchen Supplies Product | $22.4M | 2% |
HGV
| Sales Of Vacation Ownership Intervals Net | $492.0M | 41% |
| Fee For Services Commissions Package Sales And Other Fees | $169.0M | 14% |
| Cost Reimbursements | $141.0M | 12% |
| Resort Management | $118.0M | 10% |
| Other | $116.0M | 10% |
| Club Management | $101.0M | 8% |
| Related Party | $42.0M | 4% |
| Ancillary Services | $13.0M | 1% |
