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DoorDash（DASH）与卡夫亨氏（KHC）财务数据对比。点击上方公司名可切换其他公司
卡夫亨氏的季度营收约是DoorDash的1.5倍（$6.0B vs $4.0B），卡夫亨氏净利率更高（13.2% vs 7.1%，领先6.2%），DoorDash同比增速更快（8.3% vs 0.8%），卡夫亨氏自由现金流更多（$766.0M vs $355.0M），过去两年DoorDash的营收复合增速更高（23.9% vs -3.4%）
DoorDash是美国头部在线订餐及配送平台，也是美国规模最大的外卖配送服务商，占据当地外卖配送市场56%的份额，便民配送品类市场占比更是高达60%。截至2020年12月31日，平台合作商户超45万家，服务消费者超2000万，注册配送员数量突破100万。
卡夫亨氏（股票代码：KHC）是美国大型跨国食品企业，由原卡夫食品集团与亨氏公司合并组建，在芝加哥与匹兹堡均设有总部，旗下拥有多款全球知名食品品牌，业务覆盖全球众多市场。
DASH vs KHC — 直观对比
营收规模更大
KHC
是对方的1.5倍
$4.0B
营收增速更快
DASH
高出7.5%
0.8%
净利率更高
KHC
高出6.2%
7.1%
自由现金流更多
KHC
多$411.0M
$355.0M
两年增速更快
DASH
近两年复合增速
-3.4%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $4.0B | $6.0B |
| 净利润 | $285.0M | $799.0M |
| 毛利率 | 39.8% | 36.7% |
| 营业利润率 | 3.7% | — |
| 净利率 | 7.1% | 13.2% |
| 营收同比 | 8.3% | 0.8% |
| 净利润同比 | 47.7% | 11.9% |
| 每股收益（稀释后） | $0.42 | $0.67 |
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DASHKHC
| Q1 26 | $4.0B | $6.0B | ||
| Q4 25 | $4.0B | $6.4B | ||
| Q3 25 | $3.4B | $6.2B | ||
| Q2 25 | $3.3B | $6.4B | ||
| Q1 25 | $3.0B | $6.0B | ||
| Q4 24 | $2.9B | $6.6B | ||
| Q3 24 | $2.7B | $6.4B | ||
| Q2 24 | $2.6B | $6.5B |
净利润DASHKHC
| Q1 26 | $285.0M | $799.0M | ||
| Q4 25 | $213.0M | $651.0M | ||
| Q3 25 | $244.0M | $615.0M | ||
| Q2 25 | $285.0M | $-7.8B | ||
| Q1 25 | $193.0M | $712.0M | ||
| Q4 24 | $141.0M | $2.1B | ||
| Q3 24 | $162.0M | $-290.0M | ||
| Q2 24 | $-157.0M | $102.0M |
毛利率DASHKHC
| Q1 26 | 39.8% | 36.7% | ||
| Q4 25 | — | 32.6% | ||
| Q3 25 | — | 31.9% | ||
| Q2 25 | — | 34.4% | ||
| Q1 25 | — | 34.4% | ||
| Q4 24 | — | 34.1% | ||
| Q3 24 | — | 34.2% | ||
| Q2 24 | — | 35.4% |
营业利润率DASHKHC
| Q1 26 | 3.7% | — | ||
| Q4 25 | 3.7% | 17.1% | ||
| Q3 25 | 7.5% | 16.4% | ||
| Q2 25 | 5.0% | -125.5% | ||
| Q1 25 | 5.1% | 19.9% | ||
| Q4 24 | 4.1% | -0.6% | ||
| Q3 24 | 4.0% | -1.6% | ||
| Q2 24 | -7.6% | 8.1% |
净利率DASHKHC
| Q1 26 | 7.1% | 13.2% | ||
| Q4 25 | 5.4% | 10.2% | ||
| Q3 25 | 7.1% | 9.9% | ||
| Q2 25 | 8.7% | -123.2% | ||
| Q1 25 | 6.4% | 11.9% | ||
| Q4 24 | 4.9% | 32.4% | ||
| Q3 24 | 6.0% | -4.5% | ||
| Q2 24 | -6.0% | 1.6% |
每股收益（稀释后）DASHKHC
| Q1 26 | $0.42 | $0.67 | ||
| Q4 25 | $0.49 | $0.56 | ||
| Q3 25 | $0.55 | $0.52 | ||
| Q2 25 | $0.65 | $-6.60 | ||
| Q1 25 | $0.44 | $0.59 | ||
| Q4 24 | $0.35 | $1.76 | ||
| Q3 24 | $0.38 | $-0.24 | ||
| Q2 24 | $-0.38 | $0.08 |
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 | $5.5B | $3.3B |
| 总债务越低越好 | — | $21.1B |
| 股东权益账面价值 | $10.2B | $41.9B |
| 总资产 | $19.7B | $82.0B |
| 负债/权益比越低杠杆越低 | — | 0.50× |
8季度趋势，按日历期对齐
现金及短期投资DASHKHC
| Q1 26 | $5.5B | $3.3B | ||
| Q4 25 | $4.4B | $2.6B | ||
| Q3 25 | $3.3B | $3.1B | ||
| Q2 25 | $3.9B | $2.6B | ||
| Q1 25 | $4.5B | $2.8B | ||
| Q4 24 | $4.0B | $1.3B | ||
| Q3 24 | $3.7B | $1.3B | ||
| Q2 24 | $3.4B | $900.0M |
总债务DASHKHC
| Q1 26 | — | $21.1B | ||
| Q4 25 | — | $19.3B | ||
| Q3 25 | — | $19.3B | ||
| Q2 25 | — | $19.3B | ||
| Q1 25 | — | $20.9B | ||
| Q4 24 | — | $19.2B | ||
| Q3 24 | — | $19.4B | ||
| Q2 24 | — | $19.3B |
股东权益DASHKHC
| Q1 26 | $10.2B | $41.9B | ||
| Q4 25 | $10.0B | $41.7B | ||
| Q3 25 | $9.5B | $41.5B | ||
| Q2 25 | $8.9B | $41.4B | ||
| Q1 25 | $8.4B | $49.5B | ||
| Q4 24 | $7.8B | $49.2B | ||
| Q3 24 | $7.6B | $48.3B | ||
| Q2 24 | $7.2B | $48.9B |
总资产DASHKHC
| Q1 26 | $19.7B | $82.0B | ||
| Q4 25 | $19.7B | $81.8B | ||
| Q3 25 | $18.0B | $81.7B | ||
| Q2 25 | $16.9B | $81.6B | ||
| Q1 25 | $13.6B | $90.3B | ||
| Q4 24 | $12.8B | $88.3B | ||
| Q3 24 | $12.3B | $88.6B | ||
| Q2 24 | $11.8B | $88.8B |
负债/权益比DASHKHC
| Q1 26 | — | 0.50× | ||
| Q4 25 | — | 0.46× | ||
| Q3 25 | — | 0.47× | ||
| Q2 25 | — | 0.47× | ||
| Q1 25 | — | 0.42× | ||
| Q4 24 | — | 0.39× | ||
| Q3 24 | — | 0.40× | ||
| Q2 24 | — | 0.39× |
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 | $504.0M | — |
| 自由现金流经营现金流 - 资本支出 | $355.0M | $766.0M |
| 自由现金流率自由现金流/营收 | 8.8% | 12.7% |
| 资本支出强度资本支出/营收 | — | 4.0% |
| 现金转化率经营现金流/净利润 | 1.77× | — |
| 过去12个月自由现金流最近4个季度 | $2.0B | $3.9B |
8季度趋势，按日历期对齐
经营现金流DASHKHC
| Q1 26 | $504.0M | — | ||
| Q4 25 | $421.0M | $1.4B | ||
| Q3 25 | $871.0M | $1.2B | ||
| Q2 25 | $504.0M | $1.2B | ||
| Q1 25 | $635.0M | $720.0M | ||
| Q4 24 | $518.0M | $1.4B | ||
| Q3 24 | $531.0M | $1.1B | ||
| Q2 24 | $530.0M | $942.0M |
自由现金流DASHKHC
| Q1 26 | $355.0M | $766.0M | ||
| Q4 25 | $367.0M | $1.2B | ||
| Q3 25 | $808.0M | $986.0M | ||
| Q2 25 | $438.0M | $1.0B | ||
| Q1 25 | $561.0M | $482.0M | ||
| Q4 24 | $486.0M | $1.1B | ||
| Q3 24 | $499.0M | $849.0M | ||
| Q2 24 | $507.0M | $693.0M |
自由现金流率DASHKHC
| Q1 26 | 8.8% | 12.7% | ||
| Q4 25 | 9.3% | 18.4% | ||
| Q3 25 | 23.4% | 15.8% | ||
| Q2 25 | 13.3% | 16.1% | ||
| Q1 25 | 18.5% | 8.0% | ||
| Q4 24 | 16.9% | 17.4% | ||
| Q3 24 | 18.4% | 13.3% | ||
| Q2 24 | 19.3% | 10.7% |
资本支出强度DASHKHC
| Q1 26 | — | 4.0% | ||
| Q4 25 | 1.4% | 3.2% | ||
| Q3 25 | 1.8% | 2.7% | ||
| Q2 25 | 2.0% | 2.9% | ||
| Q1 25 | 2.4% | 4.0% | ||
| Q4 24 | 1.1% | 3.8% | ||
| Q3 24 | 1.2% | 3.7% | ||
| Q2 24 | 0.9% | 3.8% |
现金转化率DASHKHC
| Q1 26 | 1.77× | — | ||
| Q4 25 | 1.98× | 2.11× | ||
| Q3 25 | 3.57× | 1.88× | ||
| Q2 25 | 1.77× | — | ||
| Q1 25 | 3.29× | 1.01× | ||
| Q4 24 | 3.67× | 0.65× | ||
| Q3 24 | 3.28× | — | ||
| Q2 24 | — | 9.24× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
