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达美乐（DPZ）与摩丁制造（MOD）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摩丁制造的1.4倍（$1.2B vs $805.0M），达美乐净利率更高（12.2% vs -5.9%，领先18.0%），摩丁制造同比增速更快（30.5% vs 3.5%），达美乐自由现金流更多（$147.0M vs $-17.1M），过去两年摩丁制造的营收复合增速更高（15.5% vs 3.0%）
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。
摩丁制造是1916年成立于美国的热管理企业。创始人亚瑟·B·摩丁获拖拉机Spirex散热器专利后创立公司，曾为福特T型车生产Turbotube散热器，1941年在威斯康星州拉辛建成全球首个车用风洞，二战期间为P-51野马战斗机供应后冷却器。
DPZ vs MOD — 直观对比
营收规模更大
DPZ
是对方的1.4倍
$805.0M
营收增速更快
MOD
高出27.1%
3.5%
净利率更高
DPZ
高出18.0%
-5.9%
自由现金流更多
DPZ
多$164.1M
$-17.1M
两年增速更快
MOD
近两年复合增速
3.0%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $805.0M |
| 净利润 | $139.8M | $-47.4M |
| 毛利率 | 40.4% | 23.1% |
| 营业利润率 | 20.0% | 11.1% |
| 净利率 | 12.2% | -5.9% |
| 营收同比 | 3.5% | 30.5% |
| 净利润同比 | -6.6% | -215.6% |
| 每股收益（稀释后） | $4.13 | $-0.90 |
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DPZMOD
| Q1 26 | $1.2B | — | ||
| Q4 25 | — | $805.0M | ||
| Q3 25 | $1.1B | $738.9M | ||
| Q2 25 | $1.1B | $682.8M | ||
| Q1 25 | $1.1B | $647.2M | ||
| Q4 24 | $1.4B | $616.8M | ||
| Q3 24 | $1.1B | $658.0M | ||
| Q2 24 | $1.1B | $661.5M |
净利润DPZMOD
| Q1 26 | $139.8M | — | ||
| Q4 25 | — | $-47.4M | ||
| Q3 25 | $139.3M | $44.4M | ||
| Q2 25 | $131.1M | $51.2M | ||
| Q1 25 | $149.7M | $49.6M | ||
| Q4 24 | $169.4M | $41.0M | ||
| Q3 24 | $146.9M | $46.1M | ||
| Q2 24 | $142.0M | $47.3M |
毛利率DPZMOD
| Q1 26 | 40.4% | — | ||
| Q4 25 | — | 23.1% | ||
| Q3 25 | 40.1% | 22.3% | ||
| Q2 25 | 40.3% | 24.2% | ||
| Q1 25 | 39.8% | 25.6% | ||
| Q4 24 | 39.2% | 24.3% | ||
| Q3 24 | 39.2% | 25.2% | ||
| Q2 24 | 39.8% | 24.6% |
营业利润率DPZMOD
| Q1 26 | 20.0% | — | ||
| Q4 25 | — | 11.1% | ||
| Q3 25 | 19.5% | 9.9% | ||
| Q2 25 | 19.7% | 11.1% | ||
| Q1 25 | 18.9% | 11.5% | ||
| Q4 24 | 19.0% | 9.6% | ||
| Q3 24 | 18.4% | 11.4% | ||
| Q2 24 | 17.9% | 11.2% |
净利率DPZMOD
| Q1 26 | 12.2% | — | ||
| Q4 25 | — | -5.9% | ||
| Q3 25 | 12.1% | 6.0% | ||
| Q2 25 | 11.4% | 7.5% | ||
| Q1 25 | 13.5% | 7.7% | ||
| Q4 24 | 11.7% | 6.6% | ||
| Q3 24 | 13.6% | 7.0% | ||
| Q2 24 | 12.9% | 7.2% |
每股收益（稀释后）DPZMOD
| Q1 26 | $4.13 | — | ||
| Q4 25 | — | $-0.90 | ||
| Q3 25 | $4.08 | $0.83 | ||
| Q2 25 | $3.81 | $0.95 | ||
| Q1 25 | $4.33 | $0.92 | ||
| Q4 24 | $4.89 | $0.76 | ||
| Q3 24 | $4.19 | $0.86 | ||
| Q2 24 | $4.03 | $0.88 |
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 | $98.7M |
| 总债务越低越好 | $4.9B | $570.7M |
| 股东权益账面价值 | — | $1.1B |
| 总资产 | $1.8B | $2.5B |
| 负债/权益比越低杠杆越低 | — | 0.51× |
8季度趋势，按日历期对齐
现金及短期投资DPZMOD
| Q1 26 | $232.9M | — | ||
| Q4 25 | — | $98.7M | ||
| Q3 25 | $139.7M | $83.8M | ||
| Q2 25 | $272.9M | $124.5M | ||
| Q1 25 | $304.3M | $71.6M | ||
| Q4 24 | $186.1M | $83.8M | ||
| Q3 24 | $189.1M | $78.6M | ||
| Q2 24 | $283.7M | $72.9M |
总债务DPZMOD
| Q1 26 | $4.9B | — | ||
| Q4 25 | — | $570.7M | ||
| Q3 25 | $4.8B | $525.8M | ||
| Q2 25 | $3.8B | $482.1M | ||
| Q1 25 | $3.8B | $296.7M | ||
| Q4 24 | $3.8B | $330.0M | ||
| Q3 24 | $5.0B | $359.1M | ||
| Q2 24 | $5.0B | $405.7M |
股东权益DPZMOD
| Q1 26 | — | — | ||
| Q4 25 | — | $1.1B | ||
| Q3 25 | $-4.0B | $1.1B | ||
| Q2 25 | $-4.0B | $1.0B | ||
| Q1 25 | $-3.9B | $910.2M | ||
| Q4 24 | $-4.0B | $855.1M | ||
| Q3 24 | $-4.0B | $858.8M | ||
| Q2 24 | $-3.9B | $788.4M |
总资产DPZMOD
| Q1 26 | $1.8B | — | ||
| Q4 25 | — | $2.5B | ||
| Q3 25 | $1.7B | $2.4B | ||
| Q2 25 | $1.8B | $2.2B | ||
| Q1 25 | $1.9B | $1.9B | ||
| Q4 24 | $1.7B | $1.8B | ||
| Q3 24 | $1.8B | $1.9B | ||
| Q2 24 | $1.9B | $1.9B |
负债/权益比DPZMOD
| Q1 26 | — | — | ||
| Q4 25 | — | 0.51× | ||
| Q3 25 | — | 0.50× | ||
| Q2 25 | — | 0.48× | ||
| Q1 25 | — | 0.33× | ||
| Q4 24 | — | 0.39× | ||
| Q3 24 | — | 0.42× | ||
| Q2 24 | — | 0.51× |
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 | $24.7M |
| 自由现金流经营现金流 - 资本支出 | $147.0M | $-17.1M |
| 自由现金流率自由现金流/营收 | 12.8% | -2.1% |
| 资本支出强度资本支出/营收 | 1.3% | 5.2% |
| 现金转化率经营现金流/净利润 | 1.16× | — |
| 过去12个月自由现金流最近4个季度 | $642.6M | $-20.3M |
8季度趋势，按日历期对齐
经营现金流DPZMOD
| Q1 26 | $162.0M | — | ||
| Q4 25 | — | $24.7M | ||
| Q3 25 | $185.4M | $1.4M | ||
| Q2 25 | $187.8M | $27.7M | ||
| Q1 25 | $179.1M | $54.8M | ||
| Q4 24 | $178.0M | $60.7M | ||
| Q3 24 | $172.7M | $57.3M | ||
| Q2 24 | $150.7M | $40.5M |
自由现金流DPZMOD
| Q1 26 | $147.0M | — | ||
| Q4 25 | — | $-17.1M | ||
| Q3 25 | $164.0M | $-30.5M | ||
| Q2 25 | $167.3M | $200.0K | ||
| Q1 25 | $164.3M | $27.1M | ||
| Q4 24 | $135.9M | $44.7M | ||
| Q3 24 | $145.6M | $43.8M | ||
| Q2 24 | $127.2M | $13.7M |
自由现金流率DPZMOD
| Q1 26 | 12.8% | — | ||
| Q4 25 | — | -2.1% | ||
| Q3 25 | 14.3% | -4.1% | ||
| Q2 25 | 14.6% | 0.0% | ||
| Q1 25 | 14.8% | 4.2% | ||
| Q4 24 | 9.4% | 7.2% | ||
| Q3 24 | 13.5% | 6.7% | ||
| Q2 24 | 11.6% | 2.1% |
资本支出强度DPZMOD
| Q1 26 | 1.3% | — | ||
| Q4 25 | — | 5.2% | ||
| Q3 25 | 1.9% | 4.3% | ||
| Q2 25 | 1.8% | 4.0% | ||
| Q1 25 | 1.3% | 4.3% | ||
| Q4 24 | 2.9% | 2.6% | ||
| Q3 24 | 2.5% | 2.1% | ||
| Q2 24 | 2.1% | 4.1% |
现金转化率DPZMOD
| Q1 26 | 1.16× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 1.33× | 0.03× | ||
| Q2 25 | 1.43× | 0.54× | ||
| Q1 25 | 1.20× | 1.10× | ||
| Q4 24 | 1.05× | 1.48× | ||
| Q3 24 | 1.18× | 1.24× | ||
| Q2 24 | 1.06× | 0.86× |
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% |
MOD
| Data Centers | $296.9M | 37% |
| Performance Technologies | $266.0M | 33% |
| Hvac Technologies | $107.1M | 13% |
| Air Cooled | $92.4M | 11% |
| Lb White | $25.6M | 3% |
| Climate By Design | $10.2M | 1% |
| Absolutaire | $7.0M | 1% |
