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Chipotle Mexican Grill（CMG）与Wabtec（WAB）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Wabtec的1.0倍（$3.0B vs $3.0B），Wabtec净利率更高（12.3% vs 11.1%，领先1.2%），Wabtec同比增速更快（13.0% vs 4.9%），过去两年Wabtec的营收复合增速更高（5.6% 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。
西屋空气制动技术公司（通称Wabtec）是美国知名轨道交通设备企业，1999年由西屋空气制动公司（WABCO）与动力设备厂商MotivePower合并组建，总部设于宾夕法尼亚州匹兹堡，在全球轨交制动系统、牵引动力设备等领域拥有领先的技术实力与市场份额。
CMG vs WAB — 直观对比
营收规模更大
CMG
是对方的1.0倍
$3.0B
营收增速更快
WAB
高出8.2%
4.9%
净利率更高
WAB
高出1.2%
11.1%
两年增速更快
WAB
近两年复合增速
5.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.0B | $3.0B |
| 净利润 | $330.9M | $363.0M |
| 毛利率 | — | 36.0% |
| 营业利润率 | 14.1% | 17.5% |
| 净利率 | 11.1% | 12.3% |
| 营收同比 | 4.9% | 13.0% |
| 净利润同比 | -0.3% | 11.0% |
| 每股收益（稀释后） | $0.25 | $2.12 |
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CMGWAB
| Q1 26 | — | $3.0B | ||
| Q4 25 | $3.0B | $3.0B | ||
| Q3 25 | $3.0B | $2.9B | ||
| Q2 25 | $3.1B | $2.7B | ||
| Q1 25 | $2.9B | $2.6B | ||
| Q4 24 | $2.8B | $2.6B | ||
| Q3 24 | $2.8B | $2.7B | ||
| Q2 24 | $3.0B | $2.6B |
净利润CMGWAB
| Q1 26 | — | $363.0M | ||
| Q4 25 | $330.9M | $202.0M | ||
| Q3 25 | $382.1M | $310.0M | ||
| Q2 25 | $436.1M | $336.0M | ||
| Q1 25 | $386.6M | $322.0M | ||
| Q4 24 | $331.8M | $212.0M | ||
| Q3 24 | $387.4M | $283.0M | ||
| Q2 24 | $455.7M | $289.0M |
毛利率CMGWAB
| Q1 26 | — | 36.0% | ||
| Q4 25 | — | 32.6% | ||
| Q3 25 | — | 34.7% | ||
| Q2 25 | — | 34.7% | ||
| Q1 25 | — | 34.5% | ||
| Q4 24 | — | 30.9% | ||
| Q3 24 | — | 33.0% | ||
| Q2 24 | — | 33.1% |
营业利润率CMGWAB
| Q1 26 | — | 17.5% | ||
| Q4 25 | 14.1% | 12.0% | ||
| Q3 25 | 15.9% | 17.0% | ||
| Q2 25 | 18.2% | 17.4% | ||
| Q1 25 | 16.7% | 18.2% | ||
| Q4 24 | 14.6% | 12.9% | ||
| Q3 24 | 16.9% | 16.3% | ||
| Q2 24 | 19.7% | 16.3% |
净利率CMGWAB
| Q1 26 | — | 12.3% | ||
| Q4 25 | 11.1% | 6.8% | ||
| Q3 25 | 12.7% | 10.7% | ||
| Q2 25 | 14.2% | 12.4% | ||
| Q1 25 | 13.4% | 12.3% | ||
| Q4 24 | 11.7% | 8.2% | ||
| Q3 24 | 13.9% | 10.6% | ||
| Q2 24 | 15.3% | 10.9% |
每股收益（稀释后）CMGWAB
| Q1 26 | — | $2.12 | ||
| Q4 25 | $0.25 | $1.18 | ||
| Q3 25 | $0.29 | $1.81 | ||
| Q2 25 | $0.32 | $1.96 | ||
| Q1 25 | $0.28 | $1.88 | ||
| Q4 24 | $-12.51 | $1.24 | ||
| Q3 24 | $0.28 | $1.63 | ||
| Q2 24 | $0.33 | $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 | — |
| 总债务越低越好 | $0 | $4.7B |
| 股东权益账面价值 | $2.8B | $11.1B |
| 总资产 | $9.0B | $23.2B |
| 负债/权益比越低杠杆越低 | 0.00× | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资CMGWAB
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | — | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $1.5B | — | ||
| Q1 25 | $1.4B | — | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $1.5B | — |
总债务CMGWAB
| Q1 26 | — | $4.7B | ||
| Q4 25 | $0 | $5.5B | ||
| Q3 25 | — | $5.3B | ||
| Q2 25 | — | $4.8B | ||
| Q1 25 | — | $4.0B | ||
| Q4 24 | $0 | $4.0B | ||
| Q3 24 | — | $4.0B | ||
| Q2 24 | — | $4.0B |
股东权益CMGWAB
| Q1 26 | — | $11.1B | ||
| Q4 25 | $2.8B | $11.1B | ||
| Q3 25 | $3.2B | $11.0B | ||
| Q2 25 | $3.5B | $10.8B | ||
| Q1 25 | $3.5B | $10.4B | ||
| Q4 24 | $3.7B | $10.1B | ||
| Q3 24 | $3.6B | $10.3B | ||
| Q2 24 | $3.7B | $10.5B |
总资产CMGWAB
| Q1 26 | — | $23.2B | ||
| Q4 25 | $9.0B | $22.1B | ||
| Q3 25 | $9.3B | $21.5B | ||
| Q2 25 | $9.3B | $20.4B | ||
| Q1 25 | $9.0B | $19.1B | ||
| Q4 24 | $9.2B | $18.7B | ||
| Q3 24 | $9.0B | $18.6B | ||
| Q2 24 | $8.9B | $18.9B |
负债/权益比CMGWAB
| Q1 26 | — | 0.42× | ||
| Q4 25 | 0.00× | 0.50× | ||
| Q3 25 | — | 0.48× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.39× | ||
| Q4 24 | 0.00× | 0.39× | ||
| Q3 24 | — | 0.39× | ||
| Q2 24 | — | 0.38× |
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 | $199.0M |
| 自由现金流经营现金流 - 资本支出 | $228.4M | — |
| 自由现金流率自由现金流/营收 | 7.7% | — |
| 资本支出强度资本支出/营收 | 6.6% | — |
| 现金转化率经营现金流/净利润 | 1.29× | 0.55× |
| 过去12个月自由现金流最近4个季度 | $1.4B | — |
8季度趋势，按日历期对齐
经营现金流CMGWAB
| Q1 26 | — | $199.0M | ||
| Q4 25 | $425.8M | $992.0M | ||
| Q3 25 | $569.7M | $367.0M | ||
| Q2 25 | $561.3M | $209.0M | ||
| Q1 25 | $557.1M | $191.0M | ||
| Q4 24 | $526.8M | $723.0M | ||
| Q3 24 | $446.5M | $542.0M | ||
| Q2 24 | $562.6M | $235.0M |
自由现金流CMGWAB
| Q1 26 | — | — | ||
| Q4 25 | $228.4M | $870.0M | ||
| Q3 25 | $406.2M | $312.0M | ||
| Q2 25 | $400.7M | $170.0M | ||
| Q1 25 | $412.3M | $147.0M | ||
| Q4 24 | $353.9M | $639.0M | ||
| Q3 24 | $299.0M | $496.0M | ||
| Q2 24 | $422.1M | $189.0M |
自由现金流率CMGWAB
| Q1 26 | — | — | ||
| Q4 25 | 7.7% | 29.3% | ||
| Q3 25 | 13.5% | 10.8% | ||
| Q2 25 | 13.1% | 6.3% | ||
| Q1 25 | 14.3% | 5.6% | ||
| Q4 24 | 12.4% | 24.7% | ||
| Q3 24 | 10.7% | 18.6% | ||
| Q2 24 | 14.2% | 7.1% |
资本支出强度CMGWAB
| Q1 26 | — | — | ||
| Q4 25 | 6.6% | 4.1% | ||
| Q3 25 | 5.4% | 1.9% | ||
| Q2 25 | 5.2% | 1.4% | ||
| Q1 25 | 5.0% | 1.7% | ||
| Q4 24 | 6.1% | 3.3% | ||
| Q3 24 | 5.3% | 1.7% | ||
| Q2 24 | 4.7% | 1.7% |
现金转化率CMGWAB
| Q1 26 | — | 0.55× | ||
| Q4 25 | 1.29× | 4.91× | ||
| Q3 25 | 1.49× | 1.18× | ||
| Q2 25 | 1.29× | 0.62× | ||
| Q1 25 | 1.44× | 0.59× | ||
| Q4 24 | 1.59× | 3.41× | ||
| Q3 24 | 1.15× | 1.92× | ||
| Q2 24 | 1.23× | 0.81× |
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% |
WAB
暂无分部数据
