vs
Chipotle Mexican Grill（CMG）与国际香精香料（IFF）财务数据对比。点击上方公司名可切换其他公司
Chipotle Mexican Grill的季度营收约是国际香精香料的1.2倍（$3.0B vs $2.6B），Chipotle Mexican Grill净利率更高（11.1% vs 0.2%，领先10.9%），Chipotle Mexican Grill同比增速更快（4.9% vs -6.6%），Chipotle Mexican Grill自由现金流更多（$228.4M vs $130.0M），过去两年Chipotle Mexican Grill的营收复合增速更高（5.1% vs -5.5%）
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。
国际香精香料（IFF）是美国知名企业，业务覆盖风味、质感、香氛、营养、酶制剂、菌种、大豆蛋白、益生菌等多品类产品研发，产品行销全球。公司总部位于纽约，在44个国家设有创意、销售及生产基地，是标普500指数成分股企业。
CMG vs IFF — 直观对比
营收规模更大
CMG
是对方的1.2倍
$2.6B
营收增速更快
CMG
高出11.4%
-6.6%
净利率更高
CMG
高出10.9%
0.2%
自由现金流更多
CMG
多$98.4M
$130.0M
两年增速更快
CMG
近两年复合增速
-5.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.0B | $2.6B |
| 净利润 | $330.9M | $5.0M |
| 毛利率 | — | 34.4% |
| 营业利润率 | 14.1% | 3.7% |
| 净利率 | 11.1% | 0.2% |
| 营收同比 | 4.9% | -6.6% |
| 净利润同比 | -0.3% | 110.9% |
| 每股收益（稀释后） | $0.25 | $0.03 |
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CMGIFF
| Q4 25 | $3.0B | $2.6B | ||
| Q3 25 | $3.0B | $2.7B | ||
| Q2 25 | $3.1B | $2.8B | ||
| Q1 25 | $2.9B | $2.8B | ||
| Q4 24 | $2.8B | $2.8B | ||
| Q3 24 | $2.8B | $2.9B | ||
| Q2 24 | $3.0B | $2.9B | ||
| Q1 24 | $2.7B | $2.9B |
净利润CMGIFF
| Q4 25 | $330.9M | $5.0M | ||
| Q3 25 | $382.1M | $40.0M | ||
| Q2 25 | $436.1M | $612.0M | ||
| Q1 25 | $386.6M | $-1.0B | ||
| Q4 24 | $331.8M | $-46.0M | ||
| Q3 24 | $387.4M | $59.0M | ||
| Q2 24 | $455.7M | $170.0M | ||
| Q1 24 | $359.3M | $60.0M |
毛利率CMGIFF
| Q4 25 | — | 34.4% | ||
| Q3 25 | — | 36.5% | ||
| Q2 25 | — | 37.3% | ||
| Q1 25 | — | 36.4% | ||
| Q4 24 | — | 35.4% | ||
| Q3 24 | — | 36.0% | ||
| Q2 24 | — | 37.0% | ||
| Q1 24 | — | 35.3% |
营业利润率CMGIFF
| Q4 25 | 14.1% | 3.7% | ||
| Q3 25 | 15.9% | 8.4% | ||
| Q2 25 | 18.2% | 7.2% | ||
| Q1 25 | 16.7% | -31.8% | ||
| Q4 24 | 14.6% | 4.6% | ||
| Q3 24 | 16.9% | 8.5% | ||
| Q2 24 | 19.7% | 6.6% | ||
| Q1 24 | 16.3% | 6.9% |
净利率CMGIFF
| Q4 25 | 11.1% | 0.2% | ||
| Q3 25 | 12.7% | 1.5% | ||
| Q2 25 | 14.2% | 22.1% | ||
| Q1 25 | 13.4% | -35.8% | ||
| Q4 24 | 11.7% | -1.7% | ||
| Q3 24 | 13.9% | 2.0% | ||
| Q2 24 | 15.3% | 5.9% | ||
| Q1 24 | 13.3% | 2.1% |
每股收益（稀释后）CMGIFF
| Q4 25 | $0.25 | $0.03 | ||
| Q3 25 | $0.29 | $0.16 | ||
| Q2 25 | $0.32 | $2.38 | ||
| Q1 25 | $0.28 | $-3.98 | ||
| Q4 24 | $-12.51 | $-0.17 | ||
| Q3 24 | $0.28 | $0.23 | ||
| Q2 24 | $0.33 | $0.66 | ||
| Q1 24 | $13.01 | $0.23 |
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 | $590.0M |
| 总债务越低越好 | $0 | $5.6B |
| 股东权益账面价值 | $2.8B | $14.2B |
| 总资产 | $9.0B | $25.5B |
| 负债/权益比越低杠杆越低 | 0.00× | 0.40× |
8季度趋势，按日历期对齐
现金及短期投资CMGIFF
| Q4 25 | $1.0B | $590.0M | ||
| Q3 25 | $1.4B | $621.0M | ||
| Q2 25 | $1.5B | $816.0M | ||
| Q1 25 | $1.4B | $613.0M | ||
| Q4 24 | $1.4B | $469.0M | ||
| Q3 24 | $1.4B | $567.0M | ||
| Q2 24 | $1.5B | $671.0M | ||
| Q1 24 | $1.4B | $732.0M |
总债务CMGIFF
| Q4 25 | $0 | $5.6B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $0 | $8.9B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益CMGIFF
| Q4 25 | $2.8B | $14.2B | ||
| Q3 25 | $3.2B | $14.2B | ||
| Q2 25 | $3.5B | $14.4B | ||
| Q1 25 | $3.5B | $13.2B | ||
| Q4 24 | $3.7B | $13.9B | ||
| Q3 24 | $3.6B | $14.8B | ||
| Q2 24 | $3.7B | $14.3B | ||
| Q1 24 | $3.4B | $14.3B |
总资产CMGIFF
| Q4 25 | $9.0B | $25.5B | ||
| Q3 25 | $9.3B | $25.8B | ||
| Q2 25 | $9.3B | $26.1B | ||
| Q1 25 | $9.0B | $28.3B | ||
| Q4 24 | $9.2B | $28.7B | ||
| Q3 24 | $9.0B | $29.9B | ||
| Q2 24 | $8.9B | $29.5B | ||
| Q1 24 | $8.4B | $30.6B |
负债/权益比CMGIFF
| Q4 25 | 0.00× | 0.40× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.00× | 0.64× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $318.0M |
| 自由现金流经营现金流 - 资本支出 | $228.4M | $130.0M |
| 自由现金流率自由现金流/营收 | 7.7% | 5.0% |
| 资本支出强度资本支出/营收 | 6.6% | 7.3% |
| 现金转化率经营现金流/净利润 | 1.29× | 63.60× |
| 过去12个月自由现金流最近4个季度 | $1.4B | $256.0M |
8季度趋势，按日历期对齐
经营现金流CMGIFF
| Q4 25 | $425.8M | $318.0M | ||
| Q3 25 | $569.7M | $164.0M | ||
| Q2 25 | $561.3M | $241.0M | ||
| Q1 25 | $557.1M | $127.0M | ||
| Q4 24 | $526.8M | $368.0M | ||
| Q3 24 | $446.5M | $366.0M | ||
| Q2 24 | $562.6M | $237.0M | ||
| Q1 24 | $569.2M | $99.0M |
自由现金流CMGIFF
| Q4 25 | $228.4M | $130.0M | ||
| Q3 25 | $406.2M | $32.0M | ||
| Q2 25 | $400.7M | $146.0M | ||
| Q1 25 | $412.3M | $-52.0M | ||
| Q4 24 | $353.9M | $208.0M | ||
| Q3 24 | $299.0M | $263.0M | ||
| Q2 24 | $422.1M | $155.0M | ||
| Q1 24 | $436.5M | $-19.0M |
自由现金流率CMGIFF
| Q4 25 | 7.7% | 5.0% | ||
| Q3 25 | 13.5% | 1.2% | ||
| Q2 25 | 13.1% | 5.3% | ||
| Q1 25 | 14.3% | -1.8% | ||
| Q4 24 | 12.4% | 7.5% | ||
| Q3 24 | 10.7% | 9.0% | ||
| Q2 24 | 14.2% | 5.4% | ||
| Q1 24 | 16.2% | -0.7% |
资本支出强度CMGIFF
| Q4 25 | 6.6% | 7.3% | ||
| Q3 25 | 5.4% | 4.9% | ||
| Q2 25 | 5.2% | 3.4% | ||
| Q1 25 | 5.0% | 6.3% | ||
| Q4 24 | 6.1% | 5.8% | ||
| Q3 24 | 5.3% | 3.5% | ||
| Q2 24 | 4.7% | 2.8% | ||
| Q1 24 | 4.9% | 4.1% |
现金转化率CMGIFF
| Q4 25 | 1.29× | 63.60× | ||
| Q3 25 | 1.49× | 4.10× | ||
| Q2 25 | 1.29× | 0.39× | ||
| Q1 25 | 1.44× | — | ||
| Q4 24 | 1.59× | — | ||
| Q3 24 | 1.15× | 6.20× | ||
| Q2 24 | 1.23× | 1.39× | ||
| Q1 24 | 1.58× | 1.65× |
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% |
IFF
| Food Ingredients | $802.0M | 31% |
| Scent | $610.0M | 24% |
| Other | $589.0M | 23% |
| Taste | $588.0M | 23% |
