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达美乐（DPZ）与LCI INDUSTRIES（LCII）财务数据对比。点击上方公司名可切换其他公司
达美乐的季度营收约是LCI INDUSTRIES的1.2倍（$1.2B vs $932.7M），达美乐净利率更高（12.2% vs 2.0%，领先10.1%），LCI INDUSTRIES同比增速更快（16.1% vs 3.5%），达美乐自由现金流更多（$147.0M vs $64.3M），过去两年达美乐的营收复合增速更高（3.0% vs -1.8%）
达美乐是1960年成立的美国跨国披萨连锁品牌，注册地位于特拉华州，总部坐落在密歇根州安娜堡附近的安娜堡镇达美乐农场办公园区。截至2018年，品牌已在全球83个国家和地区的5701座城市开设约15000家门店，其中美国、印度、英国分别有5649家、1500家和1249家门店。
拉奇核心工业有限公司前身为巴基斯坦帝国化学工业公司，是一家总部位于卡拉奇的巴基斯坦综合性企业集团，业务覆盖聚酯、医药、农用化学品、纯碱及兽药等多品类产品的研发生产，在巴基斯坦本土工业领域拥有重要市场地位。
DPZ vs LCII — 直观对比
营收规模更大
DPZ
是对方的1.2倍
$932.7M
营收增速更快
LCII
高出12.7%
3.5%
净利率更高
DPZ
高出10.1%
2.0%
自由现金流更多
DPZ
多$82.7M
$64.3M
两年增速更快
DPZ
近两年复合增速
-1.8%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $932.7M |
| 净利润 | $139.8M | $18.7M |
| 毛利率 | 40.4% | 22.1% |
| 营业利润率 | 20.0% | 3.8% |
| 净利率 | 12.2% | 2.0% |
| 营收同比 | 3.5% | 16.1% |
| 净利润同比 | -6.6% | 95.7% |
| 每股收益（稀释后） | $4.13 | $0.79 |
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DPZLCII
| Q1 26 | $1.2B | — | ||
| Q4 25 | — | $932.7M | ||
| Q3 25 | $1.1B | $1.0B | ||
| Q2 25 | $1.1B | $1.1B | ||
| Q1 25 | $1.1B | $1.0B | ||
| Q4 24 | $1.4B | $803.1M | ||
| Q3 24 | $1.1B | $915.5M | ||
| Q2 24 | $1.1B | $1.1B |
净利润DPZLCII
| Q1 26 | $139.8M | — | ||
| Q4 25 | — | $18.7M | ||
| Q3 25 | $139.3M | $62.5M | ||
| Q2 25 | $131.1M | $57.6M | ||
| Q1 25 | $149.7M | $49.4M | ||
| Q4 24 | $169.4M | $9.5M | ||
| Q3 24 | $146.9M | $35.6M | ||
| Q2 24 | $142.0M | $61.2M |
毛利率DPZLCII
| Q1 26 | 40.4% | — | ||
| Q4 25 | — | 22.1% | ||
| Q3 25 | 40.1% | 24.4% | ||
| Q2 25 | 40.3% | 24.4% | ||
| Q1 25 | 39.8% | 24.1% | ||
| Q4 24 | 39.2% | 21.1% | ||
| Q3 24 | 39.2% | 24.0% | ||
| Q2 24 | 39.8% | 25.3% |
营业利润率DPZLCII
| Q1 26 | 20.0% | — | ||
| Q4 25 | — | 3.8% | ||
| Q3 25 | 19.5% | 7.3% | ||
| Q2 25 | 19.7% | 7.9% | ||
| Q1 25 | 18.9% | 7.8% | ||
| Q4 24 | 19.0% | 2.0% | ||
| Q3 24 | 18.4% | 5.9% | ||
| Q2 24 | 17.9% | 8.6% |
净利率DPZLCII
| Q1 26 | 12.2% | — | ||
| Q4 25 | — | 2.0% | ||
| Q3 25 | 12.1% | 6.0% | ||
| Q2 25 | 11.4% | 5.2% | ||
| Q1 25 | 13.5% | 4.7% | ||
| Q4 24 | 11.7% | 1.2% | ||
| Q3 24 | 13.6% | 3.9% | ||
| Q2 24 | 12.9% | 5.8% |
每股收益（稀释后）DPZLCII
| Q1 26 | $4.13 | — | ||
| Q4 25 | — | $0.79 | ||
| Q3 25 | $4.08 | $2.55 | ||
| Q2 25 | $3.81 | $2.29 | ||
| Q1 25 | $4.33 | $1.94 | ||
| Q4 24 | $4.89 | $0.37 | ||
| Q3 24 | $4.19 | $1.39 | ||
| Q2 24 | $4.03 | $2.40 |
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 | $232.9M | $222.6M |
| 总债务越低越好 | $4.9B | $945.2M |
| 股东权益账面价值 | — | $1.4B |
| 总资产 | $1.8B | $3.2B |
| 负债/权益比越低杠杆越低 | — | 0.69× |
8季度趋势，按日历期对齐
现金及短期投资DPZLCII
| Q1 26 | $232.9M | — | ||
| Q4 25 | — | $222.6M | ||
| Q3 25 | $139.7M | $199.7M | ||
| Q2 25 | $272.9M | $191.9M | ||
| Q1 25 | $304.3M | $231.2M | ||
| Q4 24 | $186.1M | $165.8M | ||
| Q3 24 | $189.1M | $161.2M | ||
| Q2 24 | $283.7M | $130.4M |
总债务DPZLCII
| Q1 26 | $4.9B | — | ||
| Q4 25 | — | $945.2M | ||
| Q3 25 | $4.8B | $947.8M | ||
| Q2 25 | $3.8B | $948.0M | ||
| Q1 25 | $3.8B | $938.3M | ||
| Q4 24 | $3.8B | $757.3M | ||
| Q3 24 | $5.0B | $822.5M | ||
| Q2 24 | $5.0B | $829.7M |
股东权益DPZLCII
| Q1 26 | — | — | ||
| Q4 25 | — | $1.4B | ||
| Q3 25 | $-4.0B | $1.4B | ||
| Q2 25 | $-4.0B | $1.4B | ||
| Q1 25 | $-3.9B | $1.4B | ||
| Q4 24 | $-4.0B | $1.4B | ||
| Q3 24 | $-4.0B | $1.4B | ||
| Q2 24 | $-3.9B | $1.4B |
总资产DPZLCII
| Q1 26 | $1.8B | — | ||
| Q4 25 | — | $3.2B | ||
| Q3 25 | $1.7B | $3.2B | ||
| Q2 25 | $1.8B | $3.2B | ||
| Q1 25 | $1.9B | $3.1B | ||
| Q4 24 | $1.7B | $2.9B | ||
| Q3 24 | $1.8B | $3.0B | ||
| Q2 24 | $1.9B | $3.0B |
负债/权益比DPZLCII
| Q1 26 | — | — | ||
| Q4 25 | — | 0.69× | ||
| Q3 25 | — | 0.70× | ||
| Q2 25 | — | 0.68× | ||
| Q1 25 | — | 0.69× | ||
| Q4 24 | — | 0.55× | ||
| Q3 24 | — | 0.58× | ||
| Q2 24 | — | 0.60× |
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 | $162.0M | $78.9M |
| 自由现金流经营现金流 - 资本支出 | $147.0M | $64.3M |
| 自由现金流率自由现金流/营收 | 12.8% | 6.9% |
| 资本支出强度资本支出/营收 | 1.3% | 1.6% |
| 现金转化率经营现金流/净利润 | 1.16× | 4.22× |
| 过去12个月自由现金流最近4个季度 | $642.6M | $278.3M |
8季度趋势，按日历期对齐
经营现金流DPZLCII
| Q1 26 | $162.0M | — | ||
| Q4 25 | — | $78.9M | ||
| Q3 25 | $185.4M | $97.2M | ||
| Q2 25 | $187.8M | $112.2M | ||
| Q1 25 | $179.1M | $42.7M | ||
| Q4 24 | $178.0M | $106.6M | ||
| Q3 24 | $172.7M | $78.4M | ||
| Q2 24 | $150.7M | $192.9M |
自由现金流DPZLCII
| Q1 26 | $147.0M | — | ||
| Q4 25 | — | $64.3M | ||
| Q3 25 | $164.0M | $80.9M | ||
| Q2 25 | $167.3M | $99.5M | ||
| Q1 25 | $164.3M | $33.7M | ||
| Q4 24 | $135.9M | $95.7M | ||
| Q3 24 | $145.6M | $68.3M | ||
| Q2 24 | $127.2M | $180.2M |
自由现金流率DPZLCII
| Q1 26 | 12.8% | — | ||
| Q4 25 | — | 6.9% | ||
| Q3 25 | 14.3% | 7.8% | ||
| Q2 25 | 14.6% | 9.0% | ||
| Q1 25 | 14.8% | 3.2% | ||
| Q4 24 | 9.4% | 11.9% | ||
| Q3 24 | 13.5% | 7.5% | ||
| Q2 24 | 11.6% | 17.1% |
资本支出强度DPZLCII
| Q1 26 | 1.3% | — | ||
| Q4 25 | — | 1.6% | ||
| Q3 25 | 1.9% | 1.6% | ||
| Q2 25 | 1.8% | 1.2% | ||
| Q1 25 | 1.3% | 0.9% | ||
| Q4 24 | 2.9% | 1.4% | ||
| Q3 24 | 2.5% | 1.1% | ||
| Q2 24 | 2.1% | 1.2% |
现金转化率DPZLCII
| Q1 26 | 1.16× | — | ||
| Q4 25 | — | 4.22× | ||
| Q3 25 | 1.33× | 1.55× | ||
| Q2 25 | 1.43× | 1.95× | ||
| Q1 25 | 1.20× | 0.86× | ||
| Q4 24 | 1.05× | 11.17× | ||
| Q3 24 | 1.18× | 2.20× | ||
| Q2 24 | 1.06× | 3.15× |
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
DPZ
| Supply chain | $699.0M | 61% |
| U.S. franchise royalties and fees | $158.0M | 14% |
| U.S. franchise advertising | $130.5M | 11% |
| U.S. Company-owned stores | $82.1M | 7% |
| International franchise royalties and fees | $81.0M | 7% |
LCII
| Travel Trailer And Fifth Wheels | $378.4M | 41% |
| Chassis Chassis Partsand Slideout Mechanisms | $206.1M | 22% |
| Furnitureand Mattresses | $120.4M | 13% |
| Appliances | $69.9M | 7% |
| Other Products | $69.1M | 7% |
| Axlesand Suspension Solutions | $62.3M | 7% |
| Motorhomes | $34.2M | 4% |
