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Chipotle Mexican Grill（CMG）与KLA Corporation（KLAC）财务数据对比。点击上方公司名可切换其他公司
KLA Corporation的季度营收约是Chipotle Mexican Grill的1.1倍（$3.3B vs $3.0B），KLA Corporation净利率更高（34.7% vs 11.1%，领先23.7%），KLA Corporation同比增速更快（7.2% vs 4.9%），KLA Corporation自由现金流更多（$1.3B vs $228.4M），过去两年KLA Corporation的营收复合增速更高（18.2% 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。
KLA Corporation是总部位于美国加利福尼亚州米尔皮塔斯的企业，主营晶圆制造设备，为半导体及相关纳米电子行业提供过程控制与良率管理系统，产品及服务覆盖晶圆、光罩、集成电路、封装生产从研发到批量制造的全流程。
CMG vs KLAC — 直观对比
营收规模更大
KLAC
是对方的1.1倍
$3.0B
营收增速更快
KLAC
高出2.3%
4.9%
净利率更高
KLAC
高出23.7%
11.1%
自由现金流更多
KLAC
多$1.0B
$228.4M
两年增速更快
KLAC
近两年复合增速
5.1%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.0B | $3.3B |
| 净利润 | $330.9M | $1.1B |
| 毛利率 | — | 61.4% |
| 营业利润率 | 14.1% | — |
| 净利率 | 11.1% | 34.7% |
| 营收同比 | 4.9% | 7.2% |
| 净利润同比 | -0.3% | 39.0% |
| 每股收益（稀释后） | $0.25 | $8.68 |
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CMGKLAC
| Q4 25 | $3.0B | $3.3B | ||
| Q3 25 | $3.0B | $3.2B | ||
| Q2 25 | $3.1B | $3.2B | ||
| Q1 25 | $2.9B | $3.1B | ||
| Q4 24 | $2.8B | $3.1B | ||
| Q3 24 | $2.8B | $2.8B | ||
| Q2 24 | $3.0B | $2.6B | ||
| Q1 24 | $2.7B | $2.4B |
净利润CMGKLAC
| Q4 25 | $330.9M | $1.1B | ||
| Q3 25 | $382.1M | $1.1B | ||
| Q2 25 | $436.1M | $1.2B | ||
| Q1 25 | $386.6M | $1.1B | ||
| Q4 24 | $331.8M | $824.5M | ||
| Q3 24 | $387.4M | $945.9M | ||
| Q2 24 | $455.7M | $836.4M | ||
| Q1 24 | $359.3M | $601.5M |
毛利率CMGKLAC
| Q4 25 | — | 61.4% | ||
| Q3 25 | — | 61.3% | ||
| Q2 25 | — | 62.0% | ||
| Q1 25 | — | 61.6% | ||
| Q4 24 | — | 60.3% | ||
| Q3 24 | — | 59.6% | ||
| Q2 24 | — | 60.7% | ||
| Q1 24 | — | 57.9% |
营业利润率CMGKLAC
| Q4 25 | 14.1% | — | ||
| Q3 25 | 15.9% | — | ||
| Q2 25 | 18.2% | 41.9% | ||
| Q1 25 | 16.7% | 41.3% | ||
| Q4 24 | 14.6% | 31.6% | ||
| Q3 24 | 16.9% | 38.0% | ||
| Q2 24 | 19.7% | 36.8% | ||
| Q1 24 | 16.3% | 29.7% |
净利率CMGKLAC
| Q4 25 | 11.1% | 34.7% | ||
| Q3 25 | 12.7% | 34.9% | ||
| Q2 25 | 14.2% | 37.9% | ||
| Q1 25 | 13.4% | 35.5% | ||
| Q4 24 | 11.7% | 26.8% | ||
| Q3 24 | 13.9% | 33.3% | ||
| Q2 24 | 15.3% | 32.6% | ||
| Q1 24 | 13.3% | 25.5% |
每股收益（稀释后）CMGKLAC
| Q4 25 | $0.25 | $8.68 | ||
| Q3 25 | $0.29 | $8.47 | ||
| Q2 25 | $0.32 | $9.04 | ||
| Q1 25 | $0.28 | $8.16 | ||
| Q4 24 | $-12.51 | $6.16 | ||
| Q3 24 | $0.28 | $7.01 | ||
| Q2 24 | $0.33 | $6.16 | ||
| Q1 24 | $13.01 | $4.43 |
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 | $2.5B |
| 总债务越低越好 | $0 | $5.9B |
| 股东权益账面价值 | $2.8B | $5.5B |
| 总资产 | $9.0B | $16.7B |
| 负债/权益比越低杠杆越低 | 0.00× | 1.08× |
8季度趋势，按日历期对齐
现金及短期投资CMGKLAC
| Q4 25 | $1.0B | $2.5B | ||
| Q3 25 | $1.4B | $1.9B | ||
| Q2 25 | $1.5B | $2.1B | ||
| Q1 25 | $1.4B | $1.9B | ||
| Q4 24 | $1.4B | $1.8B | ||
| Q3 24 | $1.4B | $2.0B | ||
| Q2 24 | $1.5B | $2.0B | ||
| Q1 24 | $1.4B | $1.8B |
总债务CMGKLAC
| Q4 25 | $0 | $5.9B | ||
| Q3 25 | — | $5.9B | ||
| Q2 25 | — | $5.9B | ||
| Q1 25 | — | $5.9B | ||
| Q4 24 | $0 | $5.9B | ||
| Q3 24 | — | $5.9B | ||
| Q2 24 | — | $5.9B | ||
| Q1 24 | — | $5.9B |
股东权益CMGKLAC
| Q4 25 | $2.8B | $5.5B | ||
| Q3 25 | $3.2B | $5.0B | ||
| Q2 25 | $3.5B | $4.7B | ||
| Q1 25 | $3.5B | $4.0B | ||
| Q4 24 | $3.7B | $3.6B | ||
| Q3 24 | $3.6B | $3.6B | ||
| Q2 24 | $3.7B | $3.4B | ||
| Q1 24 | $3.4B | $3.1B |
总资产CMGKLAC
| Q4 25 | $9.0B | $16.7B | ||
| Q3 25 | $9.3B | $16.3B | ||
| Q2 25 | $9.3B | $16.1B | ||
| Q1 25 | $9.0B | $15.2B | ||
| Q4 24 | $9.2B | $15.0B | ||
| Q3 24 | $9.0B | $15.7B | ||
| Q2 24 | $8.9B | $15.4B | ||
| Q1 24 | $8.4B | $15.0B |
负债/权益比CMGKLAC
| Q4 25 | 0.00× | 1.08× | ||
| Q3 25 | — | 1.18× | ||
| Q2 25 | — | 1.25× | ||
| Q1 25 | — | 1.47× | ||
| Q4 24 | 0.00× | 1.64× | ||
| Q3 24 | — | 1.65× | ||
| Q2 24 | — | 1.75× | ||
| Q1 24 | — | 1.90× |
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 | $1.4B |
| 自由现金流经营现金流 - 资本支出 | $228.4M | $1.3B |
| 自由现金流率自由现金流/营收 | 7.7% | 38.3% |
| 资本支出强度资本支出/营收 | 6.6% | 3.2% |
| 现金转化率经营现金流/净利润 | 1.29× | 1.19× |
| 过去12个月自由现金流最近4个季度 | $1.4B | $4.4B |
8季度趋势，按日历期对齐
经营现金流CMGKLAC
| Q4 25 | $425.8M | $1.4B | ||
| Q3 25 | $569.7M | $1.2B | ||
| Q2 25 | $561.3M | $1.2B | ||
| Q1 25 | $557.1M | $1.1B | ||
| Q4 24 | $526.8M | $849.5M | ||
| Q3 24 | $446.5M | $995.2M | ||
| Q2 24 | $562.6M | $892.6M | ||
| Q1 24 | $569.2M | $910.0M |
自由现金流CMGKLAC
| Q4 25 | $228.4M | $1.3B | ||
| Q3 25 | $406.2M | $1.1B | ||
| Q2 25 | $400.7M | $1.1B | ||
| Q1 25 | $412.3M | $990.0M | ||
| Q4 24 | $353.9M | $757.2M | ||
| Q3 24 | $299.0M | $934.8M | ||
| Q2 24 | $422.1M | $831.9M | ||
| Q1 24 | $436.5M | $838.2M |
自由现金流率CMGKLAC
| Q4 25 | 7.7% | 38.3% | ||
| Q3 25 | 13.5% | 33.2% | ||
| Q2 25 | 13.1% | 33.5% | ||
| Q1 25 | 14.3% | 32.3% | ||
| Q4 24 | 12.4% | 24.6% | ||
| Q3 24 | 10.7% | 32.9% | ||
| Q2 24 | 14.2% | 32.4% | ||
| Q1 24 | 16.2% | 35.5% |
资本支出强度CMGKLAC
| Q4 25 | 6.6% | 3.2% | ||
| Q3 25 | 5.4% | 3.0% | ||
| Q2 25 | 5.2% | 3.2% | ||
| Q1 25 | 5.0% | 2.7% | ||
| Q4 24 | 6.1% | 3.0% | ||
| Q3 24 | 5.3% | 2.1% | ||
| Q2 24 | 4.7% | 2.4% | ||
| Q1 24 | 4.9% | 3.0% |
现金转化率CMGKLAC
| Q4 25 | 1.29× | 1.19× | ||
| Q3 25 | 1.49× | 1.04× | ||
| Q2 25 | 1.29× | 0.97× | ||
| Q1 25 | 1.44× | 0.99× | ||
| Q4 24 | 1.59× | 1.03× | ||
| Q3 24 | 1.15× | 1.05× | ||
| Q2 24 | 1.23× | 1.07× | ||
| Q1 24 | 1.58× | 1.51× |
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% |
KLAC
| Wafer Inspection | $1.6B | 48% |
| Services | $786.1M | 24% |
| Patterning | $696.2M | 21% |
| Specialty Semiconductor Process | $121.6M | 4% |
| PCB And Component Inspection | $80.3M | 2% |
| Other Revenue | $40.2M | 1% |
