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达美乐（DPZ）与Reddit, Inc.（RDDT）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Reddit, Inc.的1.6倍（$1.2B vs $725.6M），Reddit, Inc.净利率更高（34.7% vs 12.2%，领先22.5%），Reddit, Inc.同比增速更快（69.7% vs 3.5%），Reddit, Inc.自由现金流更多（$263.6M vs $147.0M），过去两年Reddit, Inc.的营收复合增速更高（72.8% 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。
Reddit是美国知名的社交新闻聚合与论坛类社交媒体平台，注册用户可发布链接、文字帖、图片、视频等各类内容，其他用户可对内容进行点赞或点踩，内容按主题归类到用户创建的子板块中，获赞更高的内容会排在板块前列，热度足够的内容还将展示在全站首页。
DPZ vs RDDT — 直观对比
营收规模更大
DPZ
是对方的1.6倍
$725.6M
营收增速更快
RDDT
高出66.2%
3.5%
净利率更高
RDDT
高出22.5%
12.2%
自由现金流更多
RDDT
多$116.6M
$147.0M
两年增速更快
RDDT
近两年复合增速
2.4%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $725.6M |
| 净利润 | $139.8M | $251.6M |
| 毛利率 | 40.4% | 91.9% |
| 营业利润率 | 20.0% | 31.9% |
| 净利率 | 12.2% | 34.7% |
| 营收同比 | 3.5% | 69.7% |
| 净利润同比 | -6.6% | 254.2% |
| 每股收益（稀释后） | $4.13 | $1.24 |
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DPZRDDT
| Q1 26 | $1.2B | — | ||
| Q4 25 | — | $725.6M | ||
| Q3 25 | $1.1B | $584.9M | ||
| Q2 25 | $1.1B | $499.6M | ||
| Q1 25 | $1.1B | $392.4M | ||
| Q4 24 | $1.4B | $427.7M | ||
| Q3 24 | $1.1B | $348.4M | ||
| Q2 24 | $1.1B | $281.2M |
净利润DPZRDDT
| Q1 26 | $139.8M | — | ||
| Q4 25 | — | $251.6M | ||
| Q3 25 | $139.3M | $162.7M | ||
| Q2 25 | $131.1M | $89.3M | ||
| Q1 25 | $149.7M | $26.2M | ||
| Q4 24 | $169.4M | $71.0M | ||
| Q3 24 | $146.9M | $29.9M | ||
| Q2 24 | $142.0M | $-10.1M |
毛利率DPZRDDT
| Q1 26 | 40.4% | — | ||
| Q4 25 | — | 91.9% | ||
| Q3 25 | 40.1% | 91.0% | ||
| Q2 25 | 40.3% | 90.8% | ||
| Q1 25 | 39.8% | 90.5% | ||
| Q4 24 | 39.2% | 92.6% | ||
| Q3 24 | 39.2% | 90.1% | ||
| Q2 24 | 39.8% | 89.5% |
营业利润率DPZRDDT
| Q1 26 | 20.0% | — | ||
| Q4 25 | — | 31.9% | ||
| Q3 25 | 19.5% | 23.7% | ||
| Q2 25 | 19.7% | 13.6% | ||
| Q1 25 | 18.9% | 1.0% | ||
| Q4 24 | 19.0% | 12.4% | ||
| Q3 24 | 18.4% | 2.0% | ||
| Q2 24 | 17.9% | -11.0% |
净利率DPZRDDT
| Q1 26 | 12.2% | — | ||
| Q4 25 | — | 34.7% | ||
| Q3 25 | 12.1% | 27.8% | ||
| Q2 25 | 11.4% | 17.9% | ||
| Q1 25 | 13.5% | 6.7% | ||
| Q4 24 | 11.7% | 16.6% | ||
| Q3 24 | 13.6% | 8.6% | ||
| Q2 24 | 12.9% | -3.6% |
每股收益（稀释后）DPZRDDT
| Q1 26 | $4.13 | — | ||
| Q4 25 | — | $1.24 | ||
| Q3 25 | $4.08 | $0.80 | ||
| Q2 25 | $3.81 | $0.45 | ||
| Q1 25 | $4.33 | $0.13 | ||
| Q4 24 | $4.89 | $4.76 | ||
| Q3 24 | $4.19 | $0.16 | ||
| Q2 24 | $4.03 | $-0.06 |
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 | $953.6M |
| 总债务越低越好 | $4.9B | — |
| 股东权益账面价值 | — | $2.9B |
| 总资产 | $1.8B | $3.2B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资DPZRDDT
| Q1 26 | $232.9M | — | ||
| Q4 25 | — | $953.6M | ||
| Q3 25 | $139.7M | $911.7M | ||
| Q2 25 | $272.9M | $734.1M | ||
| Q1 25 | $304.3M | $635.7M | ||
| Q4 24 | $186.1M | $562.1M | ||
| Q3 24 | $189.1M | $515.9M | ||
| Q2 24 | $283.7M | $468.0M |
总债务DPZRDDT
| Q1 26 | $4.9B | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $4.8B | — | ||
| Q2 25 | $3.8B | — | ||
| Q1 25 | $3.8B | — | ||
| Q4 24 | $3.8B | — | ||
| Q3 24 | $5.0B | — | ||
| Q2 24 | $5.0B | — |
股东权益DPZRDDT
| Q1 26 | — | — | ||
| Q4 25 | — | $2.9B | ||
| Q3 25 | $-4.0B | $2.6B | ||
| Q2 25 | $-4.0B | $2.4B | ||
| Q1 25 | $-3.9B | $2.2B | ||
| Q4 24 | $-4.0B | $2.1B | ||
| Q3 24 | $-4.0B | $2.0B | ||
| Q2 24 | $-3.9B | $1.9B |
总资产DPZRDDT
| Q1 26 | $1.8B | — | ||
| Q4 25 | — | $3.2B | ||
| Q3 25 | $1.7B | $2.9B | ||
| Q2 25 | $1.8B | $2.6B | ||
| Q1 25 | $1.9B | $2.4B | ||
| Q4 24 | $1.7B | $2.3B | ||
| Q3 24 | $1.8B | $2.2B | ||
| Q2 24 | $1.9B | $2.1B |
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 | $266.8M |
| 自由现金流经营现金流 - 资本支出 | $147.0M | $263.6M |
| 自由现金流率自由现金流/营收 | 12.8% | 36.3% |
| 资本支出强度资本支出/营收 | 1.3% | 0.4% |
| 现金转化率经营现金流/净利润 | 1.16× | 1.06× |
| 过去12个月自由现金流最近4个季度 | $625.3M | $684.2M |
8季度趋势，按日历期对齐
经营现金流DPZRDDT
| Q1 26 | $162.0M | — | ||
| Q4 25 | — | $266.8M | ||
| Q3 25 | $185.4M | $185.2M | ||
| Q2 25 | $187.8M | $111.3M | ||
| Q1 25 | $179.1M | $127.6M | ||
| Q4 24 | $178.0M | $90.0M | ||
| Q3 24 | $172.7M | $71.6M | ||
| Q2 24 | $150.7M | $28.4M |
自由现金流DPZRDDT
| Q1 26 | $147.0M | — | ||
| Q4 25 | — | $263.6M | ||
| Q3 25 | $164.0M | $183.1M | ||
| Q2 25 | $167.3M | $110.8M | ||
| Q1 25 | $164.3M | $126.6M | ||
| Q4 24 | $135.9M | $89.2M | ||
| Q3 24 | $145.6M | $70.3M | ||
| Q2 24 | $127.2M | $27.2M |
自由现金流率DPZRDDT
| Q1 26 | 12.8% | — | ||
| Q4 25 | — | 36.3% | ||
| Q3 25 | 14.3% | 31.3% | ||
| Q2 25 | 14.6% | 22.2% | ||
| Q1 25 | 14.8% | 32.3% | ||
| Q4 24 | 9.4% | 20.8% | ||
| Q3 24 | 13.5% | 20.2% | ||
| Q2 24 | 11.6% | 9.7% |
资本支出强度DPZRDDT
| Q1 26 | 1.3% | — | ||
| Q4 25 | — | 0.4% | ||
| Q3 25 | 1.9% | 0.4% | ||
| Q2 25 | 1.8% | 0.1% | ||
| Q1 25 | 1.3% | 0.2% | ||
| Q4 24 | 2.9% | 0.2% | ||
| Q3 24 | 2.5% | 0.4% | ||
| Q2 24 | 2.1% | 0.4% |
现金转化率DPZRDDT
| Q1 26 | 1.16× | — | ||
| Q4 25 | — | 1.06× | ||
| Q3 25 | 1.33× | 1.14× | ||
| Q2 25 | 1.43× | 1.25× | ||
| Q1 25 | 1.20× | 4.88× | ||
| Q4 24 | 1.05× | 1.27× | ||
| Q3 24 | 1.18× | 2.40× | ||
| Q2 24 | 1.06× | — |
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% |
RDDT
| Advertising | $689.7M | 95% |
| Other Revenue | $35.9M | 5% |
