vs
Chipotle Mexican Grill（CMG）与COMFORT SYSTEMS USA INC（FIX）财务数据对比。点击上方公司名可切换其他公司
Chipotle Mexican Grill的季度营收约是COMFORT SYSTEMS USA INC的1.1倍（$3.0B vs $2.6B），COMFORT SYSTEMS USA INC净利率更高（12.5% vs 11.1%，领先1.4%），COMFORT SYSTEMS USA INC同比增速更快（41.7% vs 4.9%），COMFORT SYSTEMS USA INC自由现金流更多（$402.4M vs $228.4M），过去两年COMFORT SYSTEMS USA INC的营收复合增速更高（31.2% vs 5.1%）
Chipotle Mexican Grill（常简称为Chipotle）是源自美国的跨国休闲快餐连锁品牌，主营现点现做的碗餐、塔可、墨西哥卷饼等风味餐食，餐品制作过程全程向顾客公开。截至2025年12月，品牌全球门店数量已达4000家，品牌名来源于纳瓦特尔语中烟熏干哈拉佩尼奥辣椒的称谓。
Comfort Systems USA Inc.是一家美国企业，主营机电工程承包服务，核心业务覆盖暖通空调、给排水、管道工程、控制系统、场外预制建造、监测服务、消防系统，以及电气系统的安装与运维，为各类客户提供一体化机电设施解决方案。
CMG vs FIX — 直观对比
营收规模更大
CMG
是对方的1.1倍
$2.6B
营收增速更快
FIX
高出36.8%
4.9%
净利率更高
FIX
高出1.4%
11.1%
自由现金流更多
FIX
多$174.1M
$228.4M
两年增速更快
FIX
近两年复合增速
5.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.0B | $2.6B |
| 净利润 | $330.9M | $330.8M |
| 毛利率 | — | 25.5% |
| 营业利润率 | 14.1% | 16.1% |
| 净利率 | 11.1% | 12.5% |
| 营收同比 | 4.9% | 41.7% |
| 净利润同比 | -0.3% | 126.8% |
| 每股收益（稀释后） | $0.25 | $9.35 |
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CMGFIX
| Q4 25 | $3.0B | $2.6B | ||
| Q3 25 | $3.0B | $2.5B | ||
| Q2 25 | $3.1B | $2.2B | ||
| Q1 25 | $2.9B | $1.8B | ||
| Q4 24 | $2.8B | $1.9B | ||
| Q3 24 | $2.8B | $1.8B | ||
| Q2 24 | $3.0B | $1.8B | ||
| Q1 24 | $2.7B | $1.5B |
净利润CMGFIX
| Q4 25 | $330.9M | $330.8M | ||
| Q3 25 | $382.1M | $291.6M | ||
| Q2 25 | $436.1M | $230.8M | ||
| Q1 25 | $386.6M | $169.3M | ||
| Q4 24 | $331.8M | $145.9M | ||
| Q3 24 | $387.4M | $146.2M | ||
| Q2 24 | $455.7M | $134.0M | ||
| Q1 24 | $359.3M | $96.3M |
毛利率CMGFIX
| Q4 25 | — | 25.5% | ||
| Q3 25 | — | 24.8% | ||
| Q2 25 | — | 23.5% | ||
| Q1 25 | — | 22.0% | ||
| Q4 24 | — | 23.2% | ||
| Q3 24 | — | 21.1% | ||
| Q2 24 | — | 20.1% | ||
| Q1 24 | — | 19.3% |
营业利润率CMGFIX
| Q4 25 | 14.1% | 16.1% | ||
| Q3 25 | 15.9% | 15.5% | ||
| Q2 25 | 18.2% | 13.8% | ||
| Q1 25 | 16.7% | 11.4% | ||
| Q4 24 | 14.6% | 12.1% | ||
| Q3 24 | 16.9% | 11.2% | ||
| Q2 24 | 19.7% | 10.2% | ||
| Q1 24 | 16.3% | 8.8% |
净利率CMGFIX
| Q4 25 | 11.1% | 12.5% | ||
| Q3 25 | 12.7% | 11.9% | ||
| Q2 25 | 14.2% | 10.6% | ||
| Q1 25 | 13.4% | 9.2% | ||
| Q4 24 | 11.7% | 7.8% | ||
| Q3 24 | 13.9% | 8.1% | ||
| Q2 24 | 15.3% | 7.4% | ||
| Q1 24 | 13.3% | 6.3% |
每股收益（稀释后）CMGFIX
| Q4 25 | $0.25 | $9.35 | ||
| Q3 25 | $0.29 | $8.25 | ||
| Q2 25 | $0.32 | $6.53 | ||
| Q1 25 | $0.28 | $4.75 | ||
| Q4 24 | $-12.51 | $4.08 | ||
| Q3 24 | $0.28 | $4.09 | ||
| Q2 24 | $0.33 | $3.74 | ||
| Q1 24 | $13.01 | $2.69 |
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 | $1.0B | $981.9M |
| 总债务越低越好 | $0 | $145.2M |
| 股东权益账面价值 | $2.8B | $2.4B |
| 总资产 | $9.0B | $6.4B |
| 负债/权益比越低杠杆越低 | 0.00× | 0.06× |
8季度趋势，按日历期对齐
现金及短期投资CMGFIX
| Q4 25 | $1.0B | $981.9M | ||
| Q3 25 | $1.4B | $860.5M | ||
| Q2 25 | $1.5B | $331.7M | ||
| Q1 25 | $1.4B | $204.8M | ||
| Q4 24 | $1.4B | $549.9M | ||
| Q3 24 | $1.4B | $415.6M | ||
| Q2 24 | $1.5B | $199.4M | ||
| Q1 24 | $1.4B | $100.8M |
总债务CMGFIX
| Q4 25 | $0 | $145.2M | ||
| Q3 25 | — | $136.0M | ||
| Q2 25 | — | $73.0M | ||
| Q1 25 | — | $67.8M | ||
| Q4 24 | $0 | $68.3M | ||
| Q3 24 | — | $62.3M | ||
| Q2 24 | — | $73.4M | ||
| Q1 24 | — | $77.0M |
股东权益CMGFIX
| Q4 25 | $2.8B | $2.4B | ||
| Q3 25 | $3.2B | $2.2B | ||
| Q2 25 | $3.5B | $2.0B | ||
| Q1 25 | $3.5B | $1.8B | ||
| Q4 24 | $3.7B | $1.7B | ||
| Q3 24 | $3.6B | $1.6B | ||
| Q2 24 | $3.7B | $1.5B | ||
| Q1 24 | $3.4B | $1.4B |
总资产CMGFIX
| Q4 25 | $9.0B | $6.4B | ||
| Q3 25 | $9.3B | $5.8B | ||
| Q2 25 | $9.3B | $5.1B | ||
| Q1 25 | $9.0B | $4.6B | ||
| Q4 24 | $9.2B | $4.7B | ||
| Q3 24 | $9.0B | $4.4B | ||
| Q2 24 | $8.9B | $4.2B | ||
| Q1 24 | $8.4B | $3.9B |
负债/权益比CMGFIX
| Q4 25 | 0.00× | 0.06× | ||
| Q3 25 | — | 0.06× | ||
| Q2 25 | — | 0.04× | ||
| Q1 25 | — | 0.04× | ||
| Q4 24 | 0.00× | 0.04× | ||
| Q3 24 | — | 0.04× | ||
| Q2 24 | — | 0.05× | ||
| Q1 24 | — | 0.06× |
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 | $425.8M | $468.5M |
| 自由现金流经营现金流 - 资本支出 | $228.4M | $402.4M |
| 自由现金流率自由现金流/营收 | 7.7% | 15.2% |
| 资本支出强度资本支出/营收 | 6.6% | 2.5% |
| 现金转化率经营现金流/净利润 | 1.29× | 1.42× |
| 过去12个月自由现金流最近4个季度 | $1.4B | $1.0B |
8季度趋势，按日历期对齐
经营现金流CMGFIX
| Q4 25 | $425.8M | $468.5M | ||
| Q3 25 | $569.7M | $553.3M | ||
| Q2 25 | $561.3M | $252.5M | ||
| Q1 25 | $557.1M | $-88.0M | ||
| Q4 24 | $526.8M | $210.5M | ||
| Q3 24 | $446.5M | $302.2M | ||
| Q2 24 | $562.6M | $189.9M | ||
| Q1 24 | $569.2M | $146.6M |
自由现金流CMGFIX
| Q4 25 | $228.4M | $402.4M | ||
| Q3 25 | $406.2M | $517.9M | ||
| Q2 25 | $400.7M | $221.2M | ||
| Q1 25 | $412.3M | $-110.2M | ||
| Q4 24 | $353.9M | $169.8M | ||
| Q3 24 | $299.0M | $280.1M | ||
| Q2 24 | $422.1M | $166.5M | ||
| Q1 24 | $436.5M | $121.6M |
自由现金流率CMGFIX
| Q4 25 | 7.7% | 15.2% | ||
| Q3 25 | 13.5% | 21.1% | ||
| Q2 25 | 13.1% | 10.2% | ||
| Q1 25 | 14.3% | -6.0% | ||
| Q4 24 | 12.4% | 9.1% | ||
| Q3 24 | 10.7% | 15.5% | ||
| Q2 24 | 14.2% | 9.2% | ||
| Q1 24 | 16.2% | 7.9% |
资本支出强度CMGFIX
| Q4 25 | 6.6% | 2.5% | ||
| Q3 25 | 5.4% | 1.4% | ||
| Q2 25 | 5.2% | 1.4% | ||
| Q1 25 | 5.0% | 1.2% | ||
| Q4 24 | 6.1% | 2.2% | ||
| Q3 24 | 5.3% | 1.2% | ||
| Q2 24 | 4.7% | 1.3% | ||
| Q1 24 | 4.9% | 1.6% |
现金转化率CMGFIX
| Q4 25 | 1.29× | 1.42× | ||
| Q3 25 | 1.49× | 1.90× | ||
| Q2 25 | 1.29× | 1.09× | ||
| Q1 25 | 1.44× | -0.52× | ||
| Q4 24 | 1.59× | 1.44× | ||
| Q3 24 | 1.15× | 2.07× | ||
| Q2 24 | 1.23× | 1.42× | ||
| Q1 24 | 1.58× | 1.52× |
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
CMG
| U.S.Segment | $2.9B | 98% |
| Chipotle Rewards | $46.1M | 2% |
| Delivery Service | $14.3M | 0% |
FIX
| Electrical Segment | $823.7M | 31% |
| Manufacturing Customer | $542.7M | 21% |
| Existing Building Construction | $491.4M | 19% |
| Healthcare Sector Customer | $220.8M | 8% |
| Service Projects | $153.0M | 6% |
| Education | $137.5M | 5% |
| Government Customer | $131.0M | 5% |
| Office Building Customer | $88.2M | 3% |
| Other Customer | $40.7M | 2% |
| Multi Family And Residential | $33.7M | 1% |
