vs
Chipotle Mexican Grill（CMG）与NOODLES & Co（NDLS）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NOODLES & Co的24.4倍（$3.0B vs $122.1M），Chipotle Mexican Grill净利率更高（11.1% vs -7.5%，领先18.6%），Chipotle Mexican Grill同比增速更快（4.9% vs -4.1%），Chipotle Mexican Grill自由现金流更多（$228.4M vs $-2.8M），过去两年Chipotle Mexican Grill的营收复合增速更高（5.1% vs -1.2%）
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。
Noodles & Company是源自美国的休闲快餐连锁品牌，主打融合多国风味及美式特色的面条菜品，同时也供应汤品和沙拉。品牌由亚伦·肯尼迪创立于1995年，总部位于科罗拉多州布鲁姆菲尔德，截至2022年年中，品牌已在美国31个州开出了458家门店。
CMG vs NDLS — 直观对比
营收规模更大
CMG
是对方的24.4倍
$122.1M
营收增速更快
CMG
高出9.0%
-4.1%
净利率更高
CMG
高出18.6%
-7.5%
自由现金流更多
CMG
多$231.2M
$-2.8M
两年增速更快
CMG
近两年复合增速
-1.2%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.0B | $122.1M |
| 净利润 | $330.9M | $-9.2M |
| 毛利率 | — | — |
| 营业利润率 | 14.1% | -5.2% |
| 净利率 | 11.1% | -7.5% |
| 营收同比 | 4.9% | -4.1% |
| 净利润同比 | -0.3% | 32.8% |
| 每股收益（稀释后） | $0.25 | $-0.20 |
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CMGNDLS
| Q4 25 | $3.0B | — | ||
| Q3 25 | $3.0B | $122.1M | ||
| Q2 25 | $3.1B | $123.8M | ||
| Q1 25 | $2.9B | — | ||
| Q4 24 | $2.8B | $122.8M | ||
| Q3 24 | $2.8B | $127.4M | ||
| Q2 24 | $3.0B | $121.4M | ||
| Q1 24 | $2.7B | $124.3M |
净利润CMGNDLS
| Q4 25 | $330.9M | — | ||
| Q3 25 | $382.1M | $-9.2M | ||
| Q2 25 | $436.1M | $-9.1M | ||
| Q1 25 | $386.6M | — | ||
| Q4 24 | $331.8M | $-6.8M | ||
| Q3 24 | $387.4M | $-13.6M | ||
| Q2 24 | $455.7M | $-6.1M | ||
| Q1 24 | $359.3M | $-6.1M |
营业利润率CMGNDLS
| Q4 25 | 14.1% | — | ||
| Q3 25 | 15.9% | -5.2% | ||
| Q2 25 | 18.2% | -5.2% | ||
| Q1 25 | 16.7% | — | ||
| Q4 24 | 14.6% | -3.9% | ||
| Q3 24 | 16.9% | -9.0% | ||
| Q2 24 | 19.7% | -3.4% | ||
| Q1 24 | 16.3% | -3.7% |
净利率CMGNDLS
| Q4 25 | 11.1% | — | ||
| Q3 25 | 12.7% | -7.5% | ||
| Q2 25 | 14.2% | -7.3% | ||
| Q1 25 | 13.4% | — | ||
| Q4 24 | 11.7% | -5.5% | ||
| Q3 24 | 13.9% | -10.7% | ||
| Q2 24 | 15.3% | -5.1% | ||
| Q1 24 | 13.3% | -4.9% |
每股收益（稀释后）CMGNDLS
| Q4 25 | $0.25 | — | ||
| Q3 25 | $0.29 | $-0.20 | ||
| Q2 25 | $0.32 | $-0.20 | ||
| Q1 25 | $0.28 | — | ||
| Q4 24 | $-12.51 | $-0.15 | ||
| Q3 24 | $0.28 | $-0.30 | ||
| Q2 24 | $0.33 | $-0.14 | ||
| Q1 24 | $13.01 | $-1.64 |
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 | $4.7M |
| 总债务越低越好 | $0 | — |
| 股东权益账面价值 | $2.8B | $-38.9M |
| 总资产 | $9.0B | $280.6M |
| 负债/权益比越低杠杆越低 | 0.00× | — |
8季度趋势，按日历期对齐
现金及短期投资CMGNDLS
| Q4 25 | $1.0B | — | ||
| Q3 25 | $1.4B | $4.7M | ||
| Q2 25 | $1.5B | $1.4M | ||
| Q1 25 | $1.4B | — | ||
| Q4 24 | $1.4B | $3.3M | ||
| Q3 24 | $1.4B | $1.8M | ||
| Q2 24 | $1.5B | $1.3M | ||
| Q1 24 | $1.4B | $3.0M |
总债务CMGNDLS
| Q4 25 | $0 | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $0 | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益CMGNDLS
| Q4 25 | $2.8B | — | ||
| Q3 25 | $3.2B | $-38.9M | ||
| Q2 25 | $3.5B | $-13.9M | ||
| Q1 25 | $3.5B | — | ||
| Q4 24 | $3.7B | $3.7M | ||
| Q3 24 | $3.6B | $9.6M | ||
| Q2 24 | $3.7B | $21.9M | ||
| Q1 24 | $3.4B | $27.2M |
总资产CMGNDLS
| Q4 25 | $9.0B | — | ||
| Q3 25 | $9.3B | $280.6M | ||
| Q2 25 | $9.3B | $319.4M | ||
| Q1 25 | $9.0B | — | ||
| Q4 24 | $9.2B | $340.5M | ||
| Q3 24 | $9.0B | $346.3M | ||
| Q2 24 | $8.9B | $360.4M | ||
| Q1 24 | $8.4B | $368.1M |
负债/权益比CMGNDLS
| Q4 25 | 0.00× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.00× | — | ||
| 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 | $4.3M |
| 自由现金流经营现金流 - 资本支出 | $228.4M | $-2.8M |
| 自由现金流率自由现金流/营收 | 7.7% | -2.3% |
| 资本支出强度资本支出/营收 | 6.6% | 5.8% |
| 现金转化率经营现金流/净利润 | 1.29× | — |
| 过去12个月自由现金流最近4个季度 | $1.4B | $-7.5M |
8季度趋势，按日历期对齐
经营现金流CMGNDLS
| Q4 25 | $425.8M | — | ||
| Q3 25 | $569.7M | $4.3M | ||
| Q2 25 | $561.3M | $4.0M | ||
| Q1 25 | $557.1M | — | ||
| Q4 24 | $526.8M | $5.8M | ||
| Q3 24 | $446.5M | $4.7M | ||
| Q2 24 | $562.6M | $7.0M | ||
| Q1 24 | $569.2M | $164.0K |
自由现金流CMGNDLS
| Q4 25 | $228.4M | — | ||
| Q3 25 | $406.2M | $-2.8M | ||
| Q2 25 | $400.7M | $1.1M | ||
| Q1 25 | $412.3M | — | ||
| Q4 24 | $353.9M | $-1.3M | ||
| Q3 24 | $299.0M | $-4.5M | ||
| Q2 24 | $422.1M | $-1.6M | ||
| Q1 24 | $436.5M | $-15.2M |
自由现金流率CMGNDLS
| Q4 25 | 7.7% | — | ||
| Q3 25 | 13.5% | -2.3% | ||
| Q2 25 | 13.1% | 0.9% | ||
| Q1 25 | 14.3% | — | ||
| Q4 24 | 12.4% | -1.1% | ||
| Q3 24 | 10.7% | -3.5% | ||
| Q2 24 | 14.2% | -1.4% | ||
| Q1 24 | 16.2% | -12.2% |
资本支出强度CMGNDLS
| Q4 25 | 6.6% | — | ||
| Q3 25 | 5.4% | 5.8% | ||
| Q2 25 | 5.2% | 2.4% | ||
| Q1 25 | 5.0% | — | ||
| Q4 24 | 6.1% | 5.8% | ||
| Q3 24 | 5.3% | 7.2% | ||
| Q2 24 | 4.7% | 7.1% | ||
| Q1 24 | 4.9% | 12.3% |
现金转化率CMGNDLS
| Q4 25 | 1.29× | — | ||
| Q3 25 | 1.49× | — | ||
| Q2 25 | 1.29× | — | ||
| Q1 25 | 1.44× | — | ||
| Q4 24 | 1.59× | — | ||
| Q3 24 | 1.15× | — | ||
| Q2 24 | 1.23× | — | ||
| Q1 24 | 1.58× | — |
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% |
NDLS
| Food And Beverage | $119.6M | 98% |
| Franchise | $2.5M | 2% |
