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芝商所（CME）与百胜中国（YUMC）财务数据对比。点击上方公司名可切换其他公司
百胜中国的季度营收约是芝商所的1.5倍（$2.8B vs $1.9B），百胜中国净利率更高（5.0% vs 0.1%，领先4.9%），芝商所同比增速更快（14.5% vs 8.8%），过去两年芝商所的营收复合增速更高（10.8% vs -2.3%）
芝商所是总部位于美国伊利诺伊州芝加哥的金融服务企业，为全球规模最大的金融衍生品交易所运营商，旗下拥有芝加哥商品交易所、芝加哥期货交易所、纽约商业交易所、纽约商品交易所等交易平台，覆盖农产品、货币、能源等品类交易，同时持有标普道琼斯指数27%的股权。
百胜中国是总部位于上海的世界500强快餐企业，2016年从百胜餐饮集团分拆独立上市，获百胜餐饮集团商标授权，按全系统销售额的3%支付授权费。目前在国内1100多座城市运营超8400家餐厅，全球门店总数超10600家，年营收达95亿美元，是全球规模最大的餐饮企业之一。
CME vs YUMC — 直观对比
营收规模更大
YUMC
是对方的1.5倍
$1.9B
营收增速更快
CME
高出5.7%
8.8%
净利率更高
YUMC
高出4.9%
0.1%
两年增速更快
CME
近两年复合增速
-2.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $2.8B |
| 净利润 | $1.2M | $140.0M |
| 毛利率 | — | — |
| 营业利润率 | 0.1% | 6.6% |
| 净利率 | 0.1% | 5.0% |
| 营收同比 | 14.5% | 8.8% |
| 净利润同比 | 20.7% | 21.7% |
| 每股收益（稀释后） | — | $0.40 |
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CMEYUMC
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.6B | $2.8B | ||
| Q3 25 | $1.5B | $3.2B | ||
| Q2 25 | $1.7B | $2.8B | ||
| Q1 25 | $1.6B | $3.0B | ||
| Q4 24 | $1.5B | $2.6B | ||
| Q3 24 | $1.6B | $3.1B | ||
| Q2 24 | $1.5B | $2.7B |
净利润CMEYUMC
| Q1 26 | $1.2M | — | ||
| Q4 25 | $1.2B | $140.0M | ||
| Q3 25 | $908.0M | $282.0M | ||
| Q2 25 | $1.0B | $215.0M | ||
| Q1 25 | $956.2M | $292.0M | ||
| Q4 24 | $874.6M | $115.0M | ||
| Q3 24 | $912.8M | $297.0M | ||
| Q2 24 | $883.2M | $212.0M |
营业利润率CMEYUMC
| Q1 26 | 0.1% | — | ||
| Q4 25 | 61.8% | 6.6% | ||
| Q3 25 | 63.3% | 12.5% | ||
| Q2 25 | 66.7% | 10.9% | ||
| Q1 25 | 67.5% | 13.4% | ||
| Q4 24 | 62.1% | 5.8% | ||
| Q3 24 | 64.6% | 12.1% | ||
| Q2 24 | 65.3% | 9.9% |
净利率CMEYUMC
| Q1 26 | 0.1% | — | ||
| Q4 25 | 71.7% | 5.0% | ||
| Q3 25 | 59.1% | 8.8% | ||
| Q2 25 | 60.6% | 7.7% | ||
| Q1 25 | 58.2% | 9.8% | ||
| Q4 24 | 57.3% | 4.4% | ||
| Q3 24 | 57.6% | 9.7% | ||
| Q2 24 | 57.6% | 7.9% |
每股收益（稀释后）CMEYUMC
| Q1 26 | — | — | ||
| Q4 25 | $3.24 | $0.40 | ||
| Q3 25 | $2.49 | $0.76 | ||
| Q2 25 | $2.81 | $0.58 | ||
| Q1 25 | $2.62 | $0.77 | ||
| Q4 24 | $2.40 | $0.30 | ||
| Q3 24 | $2.50 | $0.77 | ||
| Q2 24 | $2.42 | $0.55 |
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 | $2.4B | $1.4B |
| 总债务越低越好 | $3.4B | — |
| 股东权益账面价值 | — | $5.4B |
| 总资产 | $202.0B | $10.8B |
| 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CMEYUMC
| Q1 26 | $2.4B | — | ||
| Q4 25 | $4.5B | $1.4B | ||
| Q3 25 | $2.6B | $2.1B | ||
| Q2 25 | $2.1B | $2.2B | ||
| Q1 25 | $1.5B | $2.0B | ||
| Q4 24 | $3.0B | $1.8B | ||
| Q3 24 | $2.4B | $2.5B | ||
| Q2 24 | $1.9B | $2.5B |
总债务CMEYUMC
| Q1 26 | $3.4B | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益CMEYUMC
| Q1 26 | — | — | ||
| Q4 25 | $28.7B | $5.4B | ||
| Q3 25 | $28.2B | $5.7B | ||
| Q2 25 | $27.7B | $5.8B | ||
| Q1 25 | $27.0B | $5.8B | ||
| Q4 24 | $26.5B | $5.7B | ||
| Q3 24 | $28.2B | $6.0B | ||
| Q2 24 | $27.6B | $5.8B |
总资产CMEYUMC
| Q1 26 | $202.0B | — | ||
| Q4 25 | $198.4B | $10.8B | ||
| Q3 25 | $187.1B | $11.0B | ||
| Q2 25 | $179.9B | $11.0B | ||
| Q1 25 | $157.8B | $11.0B | ||
| Q4 24 | $137.4B | $11.1B | ||
| Q3 24 | $137.8B | $11.8B | ||
| Q2 24 | $123.4B | $11.6B |
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 | — | $125.0M |
| 自由现金流经营现金流 - 资本支出 | — | $-116.0M |
| 自由现金流率自由现金流/营收 | — | -4.1% |
| 资本支出强度资本支出/营收 | — | 8.5% |
| 现金转化率经营现金流/净利润 | — | 0.89× |
| 过去12个月自由现金流最近4个季度 | — | $840.0M |
8季度趋势，按日历期对齐
经营现金流CMEYUMC
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $125.0M | ||
| Q3 25 | $968.1M | $477.0M | ||
| Q2 25 | $1.1B | $412.0M | ||
| Q1 25 | $1.1B | $452.0M | ||
| Q4 24 | $1.0B | $167.0M | ||
| Q3 24 | $1.0B | $409.0M | ||
| Q2 24 | $776.9M | $401.0M |
自由现金流CMEYUMC
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $-116.0M | ||
| Q3 25 | $949.7M | $351.0M | ||
| Q2 25 | $1.0B | $290.0M | ||
| Q1 25 | $1.1B | $315.0M | ||
| Q4 24 | $991.7M | $-15.0M | ||
| Q3 24 | $973.2M | $244.0M | ||
| Q2 24 | $758.7M | $232.0M |
自由现金流率CMEYUMC
| Q1 26 | — | — | ||
| Q4 25 | 66.8% | -4.1% | ||
| Q3 25 | 61.8% | 10.9% | ||
| Q2 25 | 61.5% | 10.4% | ||
| Q1 25 | 67.1% | 10.6% | ||
| Q4 24 | 65.0% | -0.6% | ||
| Q3 24 | 61.4% | 7.9% | ||
| Q2 24 | 49.5% | 8.7% |
资本支出强度CMEYUMC
| Q1 26 | — | — | ||
| Q4 25 | 2.0% | 8.5% | ||
| Q3 25 | 1.2% | 3.9% | ||
| Q2 25 | 1.1% | 4.4% | ||
| Q1 25 | 0.9% | 4.6% | ||
| Q4 24 | 1.7% | 7.0% | ||
| Q3 24 | 1.9% | 5.4% | ||
| Q2 24 | 1.2% | 6.3% |
现金转化率CMEYUMC
| Q1 26 | — | — | ||
| Q4 25 | 0.96× | 0.89× | ||
| Q3 25 | 1.07× | 1.69× | ||
| Q2 25 | 1.03× | 1.92× | ||
| Q1 25 | 1.17× | 1.55× | ||
| Q4 24 | 1.16× | 1.45× | ||
| Q3 24 | 1.10× | 1.38× | ||
| Q2 24 | 0.88× | 1.89× |
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
CME
暂无分部数据
YUMC
| Revenue From External Customers | $2.1B | 75% |
| Pizza Hut | $540.0M | 19% |
| Corporate And Unallocated | $105.0M | 4% |
| Other Revenue | $45.0M | 2% |
| Franchise Fees And Income | $25.0M | 1% |
