vs
Chefs' Warehouse, Inc.（CHEF）与登士柏西诺德（XRAY）财务数据对比。点击上方公司名可切换其他公司
Chefs' Warehouse, Inc.的季度营收约是登士柏西诺德的1.2倍（$1.1B vs $961.0M），Chefs' Warehouse, Inc.净利率更高（1.9% vs -15.2%，领先17.1%），Chefs' Warehouse, Inc.同比增速更快（10.5% vs 6.2%），Chefs' Warehouse, Inc.自由现金流更多（$65.8M vs $60.0M），过去两年Chefs' Warehouse, Inc.的营收复合增速更高（14.3% vs 0.4%）
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。
登士柏西诺德是美国牙科设备及耗材制造商，业务覆盖全球120多个国家，在21个国家设有生产工厂。该公司前身为1993年Gendex公司以5.9亿美元收购登士柏国际后整合组建的企业，是全球牙科领域的重要供应商。
CHEF vs XRAY — 直观对比
营收规模更大
CHEF
是对方的1.2倍
$961.0M
营收增速更快
CHEF
高出4.4%
6.2%
净利率更高
CHEF
高出17.1%
-15.2%
自由现金流更多
CHEF
多$5.8M
$60.0M
两年增速更快
CHEF
近两年复合增速
0.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $961.0M |
| 净利润 | $21.7M | $-146.0M |
| 毛利率 | 24.2% | 46.1% |
| 营业利润率 | 3.8% | -14.5% |
| 净利率 | 1.9% | -15.2% |
| 营收同比 | 10.5% | 6.2% |
| 净利润同比 | -9.4% | 66.0% |
| 每股收益（稀释后） | $0.50 | $-0.74 |
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CHEFXRAY
| Q4 25 | $1.1B | $961.0M | ||
| Q3 25 | $1.0B | $904.0M | ||
| Q2 25 | $1.0B | $936.0M | ||
| Q1 25 | $950.7M | $879.0M | ||
| Q4 24 | $1.0B | $905.0M | ||
| Q3 24 | $931.5M | $951.0M | ||
| Q2 24 | $954.7M | $984.0M | ||
| Q1 24 | $874.5M | $953.0M |
净利润CHEFXRAY
| Q4 25 | $21.7M | $-146.0M | ||
| Q3 25 | $19.1M | $-427.0M | ||
| Q2 25 | $21.2M | $-45.0M | ||
| Q1 25 | $10.3M | $20.0M | ||
| Q4 24 | $23.9M | $-430.0M | ||
| Q3 24 | $14.1M | $-494.0M | ||
| Q2 24 | $15.5M | $-4.0M | ||
| Q1 24 | $1.9M | $18.0M |
毛利率CHEFXRAY
| Q4 25 | 24.2% | 46.1% | ||
| Q3 25 | 24.2% | 48.8% | ||
| Q2 25 | 24.6% | 52.4% | ||
| Q1 25 | 23.8% | 53.0% | ||
| Q4 24 | 24.3% | 49.3% | ||
| Q3 24 | 24.1% | 52.1% | ||
| Q2 24 | 24.0% | 51.9% | ||
| Q1 24 | 23.9% | 53.1% |
营业利润率CHEFXRAY
| Q4 25 | 3.8% | -14.5% | ||
| Q3 25 | 3.8% | -24.1% | ||
| Q2 25 | 3.9% | -13.7% | ||
| Q1 25 | 2.4% | 7.2% | ||
| Q4 24 | 4.5% | -56.2% | ||
| Q3 24 | 3.4% | -48.6% | ||
| Q2 24 | 3.5% | 5.1% | ||
| Q1 24 | 1.8% | 4.4% |
净利率CHEFXRAY
| Q4 25 | 1.9% | -15.2% | ||
| Q3 25 | 1.9% | -47.2% | ||
| Q2 25 | 2.1% | -4.8% | ||
| Q1 25 | 1.1% | 2.3% | ||
| Q4 24 | 2.3% | -47.5% | ||
| Q3 24 | 1.5% | -51.9% | ||
| Q2 24 | 1.6% | -0.4% | ||
| Q1 24 | 0.2% | 1.9% |
每股收益（稀释后）CHEFXRAY
| Q4 25 | $0.50 | $-0.74 | ||
| Q3 25 | $0.44 | $-2.14 | ||
| Q2 25 | $0.49 | $-0.22 | ||
| Q1 25 | $0.25 | $0.10 | ||
| Q4 24 | $0.56 | $-2.09 | ||
| Q3 24 | $0.34 | $-2.46 | ||
| Q2 24 | $0.37 | $-0.02 | ||
| Q1 24 | $0.05 | $0.09 |
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 | $326.0M |
| 总债务越低越好 | $720.3M | $2.3B |
| 股东权益账面价值 | $604.3M | $1.3B |
| 总资产 | $2.0B | $5.4B |
| 负债/权益比越低杠杆越低 | 1.19× | 1.70× |
8季度趋势，按日历期对齐
现金及短期投资CHEFXRAY
| Q4 25 | $121.0M | $326.0M | ||
| Q3 25 | $65.1M | $363.0M | ||
| Q2 25 | $96.9M | $359.0M | ||
| Q1 25 | $116.5M | $398.0M | ||
| Q4 24 | $114.7M | $272.0M | ||
| Q3 24 | $50.7M | $296.0M | ||
| Q2 24 | $38.3M | $279.0M | ||
| Q1 24 | $42.3M | $291.0M |
总债务CHEFXRAY
| Q4 25 | $720.3M | $2.3B | ||
| Q3 25 | $711.7M | — | ||
| Q2 25 | $690.2M | — | ||
| Q1 25 | $681.1M | — | ||
| Q4 24 | $688.7M | $1.7B | ||
| Q3 24 | $666.6M | — | ||
| Q2 24 | $660.8M | — | ||
| Q1 24 | $667.3M | — |
股东权益CHEFXRAY
| Q4 25 | $604.3M | $1.3B | ||
| Q3 25 | $576.6M | $1.5B | ||
| Q2 25 | $557.7M | $2.0B | ||
| Q1 25 | $541.6M | $2.0B | ||
| Q4 24 | $537.6M | $1.9B | ||
| Q3 24 | $480.3M | $2.5B | ||
| Q2 24 | $461.9M | $3.1B | ||
| Q1 24 | $447.8M | $3.3B |
总资产CHEFXRAY
| Q4 25 | $2.0B | $5.4B | ||
| Q3 25 | $1.9B | $5.7B | ||
| Q2 25 | $1.9B | $6.1B | ||
| Q1 25 | $1.8B | $6.0B | ||
| Q4 24 | $1.9B | $5.8B | ||
| Q3 24 | $1.8B | $6.6B | ||
| Q2 24 | $1.7B | $6.9B | ||
| Q1 24 | $1.7B | $7.1B |
负债/权益比CHEFXRAY
| Q4 25 | 1.19× | 1.70× | ||
| Q3 25 | 1.23× | — | ||
| Q2 25 | 1.24× | — | ||
| Q1 25 | 1.26× | — | ||
| Q4 24 | 1.28× | 0.90× | ||
| Q3 24 | 1.39× | — | ||
| Q2 24 | 1.43× | — | ||
| Q1 24 | 1.49× | — |
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 | $101.0M |
| 自由现金流经营现金流 - 资本支出 | $65.8M | $60.0M |
| 自由现金流率自由现金流/营收 | 5.8% | 6.2% |
| 资本支出强度资本支出/营收 | 0.7% | 4.3% |
| 现金转化率经营现金流/净利润 | 3.41× | — |
| 过去12个月自由现金流最近4个季度 | $87.8M | $104.0M |
8季度趋势，按日历期对齐
经营现金流CHEFXRAY
| Q4 25 | $73.9M | $101.0M | ||
| Q3 25 | $-8.7M | $79.0M | ||
| Q2 25 | $14.5M | $48.0M | ||
| Q1 25 | $49.6M | $7.0M | ||
| Q4 24 | $73.0M | $87.0M | ||
| Q3 24 | $19.8M | $141.0M | ||
| Q2 24 | $29.3M | $208.0M | ||
| Q1 24 | $30.9M | $25.0M |
自由现金流CHEFXRAY
| Q4 25 | $65.8M | $60.0M | ||
| Q3 25 | $-19.7M | $40.0M | ||
| Q2 25 | $4.5M | $16.0M | ||
| Q1 25 | $37.2M | $-12.0M | ||
| Q4 24 | $64.6M | $36.0M | ||
| Q3 24 | $11.8M | $98.0M | ||
| Q2 24 | $13.3M | $156.0M | ||
| Q1 24 | $13.8M | $-9.0M |
自由现金流率CHEFXRAY
| Q4 25 | 5.8% | 6.2% | ||
| Q3 25 | -1.9% | 4.4% | ||
| Q2 25 | 0.4% | 1.7% | ||
| Q1 25 | 3.9% | -1.4% | ||
| Q4 24 | 6.3% | 4.0% | ||
| Q3 24 | 1.3% | 10.3% | ||
| Q2 24 | 1.4% | 15.9% | ||
| Q1 24 | 1.6% | -0.9% |
资本支出强度CHEFXRAY
| Q4 25 | 0.7% | 4.3% | ||
| Q3 25 | 1.1% | 4.3% | ||
| Q2 25 | 1.0% | 3.4% | ||
| Q1 25 | 1.3% | 2.2% | ||
| Q4 24 | 0.8% | 5.6% | ||
| Q3 24 | 0.9% | 4.5% | ||
| Q2 24 | 1.7% | 5.3% | ||
| Q1 24 | 2.0% | 3.6% |
现金转化率CHEFXRAY
| Q4 25 | 3.41× | — | ||
| Q3 25 | -0.46× | — | ||
| Q2 25 | 0.68× | — | ||
| Q1 25 | 4.82× | 0.35× | ||
| Q4 24 | 3.05× | — | ||
| Q3 24 | 1.41× | — | ||
| Q2 24 | 1.89× | — | ||
| Q1 24 | 16.00× | 1.39× |
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% |
XRAY
| Essential Dental Solutions | $372.0M | 39% |
| Equipment And Instruments | $160.0M | 17% |
| Implants And Prosthetics | $150.0M | 16% |
| CADCAM | $139.0M | 14% |
| Wellspect Healthcare | $88.0M | 9% |
| Orthodontics | $52.0M | 5% |
