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达美乐（DPZ）与Primoris Services Corp（PRIM）财务数据对比。点击上方公司名可切换其他公司
Primoris Services Corp的季度营收约是达美乐的1.6倍（$1.9B vs $1.2B），达美乐净利率更高（12.2% vs 2.8%，领先9.4%），Primoris Services Corp同比增速更快（6.7% vs 3.5%），达美乐自由现金流更多（$147.0M vs $121.1M），过去两年Primoris Services Corp的营收复合增速更高（14.7% vs 2.4%）
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。
Primoris Services Corp是总部位于美国的上市专业基建与工程建设企业，核心业务覆盖天然气管道、污水管网及供水管道建设领域，2014年入选《财富》1000强榜单，在北美能源及民生基建领域拥有丰富的项目运营经验。
DPZ vs PRIM — 直观对比
营收规模更大
PRIM
是对方的1.6倍
$1.2B
营收增速更快
PRIM
高出3.2%
3.5%
净利率更高
DPZ
高出9.4%
2.8%
自由现金流更多
DPZ
多$25.9M
$121.1M
两年增速更快
PRIM
近两年复合增速
2.4%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.9B |
| 净利润 | $139.8M | $51.7M |
| 毛利率 | 40.4% | 9.4% |
| 营业利润率 | 20.0% | 4.2% |
| 净利率 | 12.2% | 2.8% |
| 营收同比 | 3.5% | 6.7% |
| 净利润同比 | -6.6% | -4.2% |
| 每股收益（稀释后） | $4.13 | $0.94 |
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DPZPRIM
| Q1 26 | $1.2B | — | ||
| Q4 25 | — | $1.9B | ||
| Q3 25 | $1.1B | $2.2B | ||
| Q2 25 | $1.1B | $1.9B | ||
| Q1 25 | $1.1B | $1.6B | ||
| Q4 24 | $1.4B | $1.7B | ||
| Q3 24 | $1.1B | $1.6B | ||
| Q2 24 | $1.1B | $1.6B |
净利润DPZPRIM
| Q1 26 | $139.8M | — | ||
| Q4 25 | — | $51.7M | ||
| Q3 25 | $139.3M | $94.6M | ||
| Q2 25 | $131.1M | $84.3M | ||
| Q1 25 | $149.7M | $44.2M | ||
| Q4 24 | $169.4M | $54.0M | ||
| Q3 24 | $146.9M | $58.4M | ||
| Q2 24 | $142.0M | $49.5M |
毛利率DPZPRIM
| Q1 26 | 40.4% | — | ||
| Q4 25 | — | 9.4% | ||
| Q3 25 | 40.1% | 10.8% | ||
| Q2 25 | 40.3% | 12.3% | ||
| Q1 25 | 39.8% | 10.4% | ||
| Q4 24 | 39.2% | 10.6% | ||
| Q3 24 | 39.2% | 12.0% | ||
| Q2 24 | 39.8% | 11.9% |
营业利润率DPZPRIM
| Q1 26 | 20.0% | — | ||
| Q4 25 | — | 4.2% | ||
| Q3 25 | 19.5% | 6.3% | ||
| Q2 25 | 19.7% | 6.7% | ||
| Q1 25 | 18.9% | 4.3% | ||
| Q4 24 | 19.0% | 5.0% | ||
| Q3 24 | 18.4% | 6.0% | ||
| Q2 24 | 17.9% | 5.5% |
净利率DPZPRIM
| Q1 26 | 12.2% | — | ||
| Q4 25 | — | 2.8% | ||
| Q3 25 | 12.1% | 4.3% | ||
| Q2 25 | 11.4% | 4.5% | ||
| Q1 25 | 13.5% | 2.7% | ||
| Q4 24 | 11.7% | 3.1% | ||
| Q3 24 | 13.6% | 3.5% | ||
| Q2 24 | 12.9% | 3.2% |
每股收益（稀释后）DPZPRIM
| Q1 26 | $4.13 | — | ||
| Q4 25 | — | $0.94 | ||
| Q3 25 | $4.08 | $1.73 | ||
| Q2 25 | $3.81 | $1.54 | ||
| Q1 25 | $4.33 | $0.81 | ||
| Q4 24 | $4.89 | $0.98 | ||
| Q3 24 | $4.19 | $1.07 | ||
| Q2 24 | $4.03 | $0.91 |
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 | $535.5M |
| 总债务越低越好 | $4.9B | $469.9M |
| 股东权益账面价值 | — | $1.7B |
| 总资产 | $1.8B | $4.4B |
| 负债/权益比越低杠杆越低 | — | 0.28× |
8季度趋势，按日历期对齐
现金及短期投资DPZPRIM
| Q1 26 | $232.9M | — | ||
| Q4 25 | — | $535.5M | ||
| Q3 25 | $139.7M | $431.4M | ||
| Q2 25 | $272.9M | $390.3M | ||
| Q1 25 | $304.3M | $351.6M | ||
| Q4 24 | $186.1M | $455.8M | ||
| Q3 24 | $189.1M | $352.7M | ||
| Q2 24 | $283.7M | $207.4M |
总债务DPZPRIM
| Q1 26 | $4.9B | — | ||
| Q4 25 | — | $469.9M | ||
| Q3 25 | $4.8B | $486.0M | ||
| Q2 25 | $3.8B | $603.1M | ||
| Q1 25 | $3.8B | $612.0M | ||
| Q4 24 | $3.8B | $734.8M | ||
| Q3 24 | $5.0B | $903.7M | ||
| Q2 24 | $5.0B | $933.0M |
股东权益DPZPRIM
| Q1 26 | — | — | ||
| Q4 25 | — | $1.7B | ||
| Q3 25 | $-4.0B | $1.6B | ||
| Q2 25 | $-4.0B | $1.5B | ||
| Q1 25 | $-3.9B | $1.4B | ||
| Q4 24 | $-4.0B | $1.4B | ||
| Q3 24 | $-4.0B | $1.4B | ||
| Q2 24 | $-3.9B | $1.3B |
总资产DPZPRIM
| Q1 26 | $1.8B | — | ||
| Q4 25 | — | $4.4B | ||
| Q3 25 | $1.7B | $4.6B | ||
| Q2 25 | $1.8B | $4.5B | ||
| Q1 25 | $1.9B | $4.2B | ||
| Q4 24 | $1.7B | $4.2B | ||
| Q3 24 | $1.8B | $4.2B | ||
| Q2 24 | $1.9B | $4.0B |
负债/权益比DPZPRIM
| Q1 26 | — | — | ||
| Q4 25 | — | 0.28× | ||
| Q3 25 | — | 0.30× | ||
| Q2 25 | — | 0.39× | ||
| Q1 25 | — | 0.42× | ||
| Q4 24 | — | 0.52× | ||
| Q3 24 | — | 0.67× | ||
| Q2 24 | — | 0.72× |
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 | $142.9M |
| 自由现金流经营现金流 - 资本支出 | $147.0M | $121.1M |
| 自由现金流率自由现金流/营收 | 12.8% | 6.5% |
| 资本支出强度资本支出/营收 | 1.3% | 1.2% |
| 现金转化率经营现金流/净利润 | 1.16× | 2.76× |
| 过去12个月自由现金流最近4个季度 | $625.3M | $340.5M |
8季度趋势，按日历期对齐
经营现金流DPZPRIM
| Q1 26 | $162.0M | — | ||
| Q4 25 | — | $142.9M | ||
| Q3 25 | $185.4M | $182.9M | ||
| Q2 25 | $187.8M | $78.5M | ||
| Q1 25 | $179.1M | $66.2M | ||
| Q4 24 | $178.0M | $298.3M | ||
| Q3 24 | $172.7M | $222.5M | ||
| Q2 24 | $150.7M | $16.1M |
自由现金流DPZPRIM
| Q1 26 | $147.0M | — | ||
| Q4 25 | — | $121.1M | ||
| Q3 25 | $164.0M | $148.4M | ||
| Q2 25 | $167.3M | $45.3M | ||
| Q1 25 | $164.3M | $25.6M | ||
| Q4 24 | $135.9M | $270.0M | ||
| Q3 24 | $145.6M | $158.8M | ||
| Q2 24 | $127.2M | $-8.1M |
自由现金流率DPZPRIM
| Q1 26 | 12.8% | — | ||
| Q4 25 | — | 6.5% | ||
| Q3 25 | 14.3% | 6.8% | ||
| Q2 25 | 14.6% | 2.4% | ||
| Q1 25 | 14.8% | 1.6% | ||
| Q4 24 | 9.4% | 15.5% | ||
| Q3 24 | 13.5% | 9.6% | ||
| Q2 24 | 11.6% | -0.5% |
资本支出强度DPZPRIM
| Q1 26 | 1.3% | — | ||
| Q4 25 | — | 1.2% | ||
| Q3 25 | 1.9% | 1.6% | ||
| Q2 25 | 1.8% | 1.8% | ||
| Q1 25 | 1.3% | 2.5% | ||
| Q4 24 | 2.9% | 1.6% | ||
| Q3 24 | 2.5% | 3.9% | ||
| Q2 24 | 2.1% | 1.5% |
现金转化率DPZPRIM
| Q1 26 | 1.16× | — | ||
| Q4 25 | — | 2.76× | ||
| Q3 25 | 1.33× | 1.93× | ||
| Q2 25 | 1.43× | 0.93× | ||
| Q1 25 | 1.20× | 1.50× | ||
| Q4 24 | 1.05× | 5.53× | ||
| Q3 24 | 1.18× | 3.81× | ||
| Q2 24 | 1.06× | 0.32× |
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% |
PRIM
| Energy Segment | $1.2B | 64% |
| Unit Price Contracts | $473.7M | 25% |
| Cost Reimbursable Contracts | $121.3M | 7% |
| Other | $74.9M | 4% |
