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达美乐（DPZ）与Ryman Hospitality Properties, Inc.（RHP）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Ryman Hospitality Properties, Inc.的1.6倍（$1.2B vs $737.8M），达美乐净利率更高（12.2% vs 10.1%，领先2.1%），Ryman Hospitality Properties, Inc.同比增速更快（13.9% vs 3.5%），达美乐自由现金流更多（$147.0M vs $58.5M），过去两年Ryman Hospitality Properties, Inc.的营收复合增速更高（18.2% 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。
莱曼酒店地产是一家主营酒店、度假村、娱乐及媒体业务的企业，得名于旗下位于田纳西州纳什维尔的国家历史地标莱曼礼堂。公司历史可追溯至曾为俄克拉荷马出版公司子公司时期，1983年收购WSM公司后奠定现代业务基础，同时将知名演出IP大奥普里等核心资产纳入麾下。
DPZ vs RHP — 直观对比
营收规模更大
DPZ
是对方的1.6倍
$737.8M
营收增速更快
RHP
高出10.5%
3.5%
净利率更高
DPZ
高出2.1%
10.1%
自由现金流更多
DPZ
多$88.5M
$58.5M
两年增速更快
RHP
近两年复合增速
2.4%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $737.8M |
| 净利润 | $139.8M | $74.5M |
| 毛利率 | 40.4% | 41.4% |
| 营业利润率 | 20.0% | 19.4% |
| 净利率 | 12.2% | 10.1% |
| 营收同比 | 3.5% | 13.9% |
| 净利润同比 | -6.6% | 3.0% |
| 每股收益（稀释后） | $4.13 | $1.12 |
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DPZRHP
| Q1 26 | $1.2B | — | ||
| Q4 25 | — | $737.8M | ||
| Q3 25 | $1.1B | $592.5M | ||
| Q2 25 | $1.1B | $659.5M | ||
| Q1 25 | $1.1B | $587.3M | ||
| Q4 24 | $1.4B | $647.6M | ||
| Q3 24 | $1.1B | $550.0M | ||
| Q2 24 | $1.1B | $613.3M |
净利润DPZRHP
| Q1 26 | $139.8M | — | ||
| Q4 25 | — | $74.5M | ||
| Q3 25 | $139.3M | $34.9M | ||
| Q2 25 | $131.1M | $71.8M | ||
| Q1 25 | $149.7M | $63.0M | ||
| Q4 24 | $169.4M | $72.3M | ||
| Q3 24 | $146.9M | $59.0M | ||
| Q2 24 | $142.0M | $100.8M |
毛利率DPZRHP
| Q1 26 | 40.4% | — | ||
| Q4 25 | — | 41.4% | ||
| Q3 25 | 40.1% | 40.9% | ||
| Q2 25 | 40.3% | 49.7% | ||
| Q1 25 | 39.8% | 44.4% | ||
| Q4 24 | 39.2% | 40.4% | ||
| Q3 24 | 39.2% | 43.1% | ||
| Q2 24 | 39.8% | 48.4% |
营业利润率DPZRHP
| Q1 26 | 20.0% | — | ||
| Q4 25 | — | 19.4% | ||
| Q3 25 | 19.5% | 15.0% | ||
| Q2 25 | 19.7% | 21.1% | ||
| Q1 25 | 18.9% | 19.8% | ||
| Q4 24 | 19.0% | 18.6% | ||
| Q3 24 | 18.4% | 19.3% | ||
| Q2 24 | 17.9% | 27.4% |
净利率DPZRHP
| Q1 26 | 12.2% | — | ||
| Q4 25 | — | 10.1% | ||
| Q3 25 | 12.1% | 5.9% | ||
| Q2 25 | 11.4% | 10.9% | ||
| Q1 25 | 13.5% | 10.7% | ||
| Q4 24 | 11.7% | 11.2% | ||
| Q3 24 | 13.6% | 10.7% | ||
| Q2 24 | 12.9% | 16.4% |
每股收益（稀释后）DPZRHP
| Q1 26 | $4.13 | — | ||
| Q4 25 | — | $1.12 | ||
| Q3 25 | $4.08 | $0.53 | ||
| Q2 25 | $3.81 | $1.12 | ||
| Q1 25 | $4.33 | $1.00 | ||
| Q4 24 | $4.89 | $1.12 | ||
| Q3 24 | $4.19 | $0.94 | ||
| Q2 24 | $4.03 | $1.65 |
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 | $471.4M |
| 总债务越低越好 | $4.9B | — |
| 股东权益账面价值 | — | $750.2M |
| 总资产 | $1.8B | $6.2B |
| 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DPZRHP
| Q1 26 | $232.9M | — | ||
| Q4 25 | — | $471.4M | ||
| Q3 25 | $139.7M | $483.3M | ||
| Q2 25 | $272.9M | $420.6M | ||
| Q1 25 | $304.3M | $413.9M | ||
| Q4 24 | $186.1M | $477.7M | ||
| Q3 24 | $189.1M | $534.9M | ||
| Q2 24 | $283.7M | $498.4M |
总债务DPZRHP
| 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DPZRHP
| Q1 26 | — | — | ||
| Q4 25 | — | $750.2M | ||
| Q3 25 | $-4.0B | $758.5M | ||
| Q2 25 | $-4.0B | $800.4M | ||
| Q1 25 | $-3.9B | $531.5M | ||
| Q4 24 | $-4.0B | $549.0M | ||
| Q3 24 | $-4.0B | $551.9M | ||
| Q2 24 | $-3.9B | $562.6M |
总资产DPZRHP
| Q1 26 | $1.8B | — | ||
| Q4 25 | — | $6.2B | ||
| Q3 25 | $1.7B | $6.2B | ||
| Q2 25 | $1.8B | $6.1B | ||
| Q1 25 | $1.9B | $5.2B | ||
| Q4 24 | $1.7B | $5.2B | ||
| Q3 24 | $1.8B | $5.2B | ||
| Q2 24 | $1.9B | $5.1B |
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 | $164.7M |
| 自由现金流经营现金流 - 资本支出 | $147.0M | $58.5M |
| 自由现金流率自由现金流/营收 | 12.8% | 7.9% |
| 资本支出强度资本支出/营收 | 1.3% | 14.4% |
| 现金转化率经营现金流/净利润 | 1.16× | 2.21× |
| 过去12个月自由现金流最近4个季度 | $625.3M | $232.4M |
8季度趋势，按日历期对齐
经营现金流DPZRHP
| Q1 26 | $162.0M | — | ||
| Q4 25 | — | $164.7M | ||
| Q3 25 | $185.4M | $205.2M | ||
| Q2 25 | $187.8M | $122.5M | ||
| Q1 25 | $179.1M | $98.2M | ||
| Q4 24 | $178.0M | $166.6M | ||
| Q3 24 | $172.7M | $218.1M | ||
| Q2 24 | $150.7M | $184.3M |
自由现金流DPZRHP
| Q1 26 | $147.0M | — | ||
| Q4 25 | — | $58.5M | ||
| Q3 25 | $164.0M | $135.4M | ||
| Q2 25 | $167.3M | $53.0M | ||
| Q1 25 | $164.3M | $-14.5M | ||
| Q4 24 | $135.9M | $76.0M | ||
| Q3 24 | $145.6M | $85.7M | ||
| Q2 24 | $127.2M | $78.8M |
自由现金流率DPZRHP
| Q1 26 | 12.8% | — | ||
| Q4 25 | — | 7.9% | ||
| Q3 25 | 14.3% | 22.9% | ||
| Q2 25 | 14.6% | 8.0% | ||
| Q1 25 | 14.8% | -2.5% | ||
| Q4 24 | 9.4% | 11.7% | ||
| Q3 24 | 13.5% | 15.6% | ||
| Q2 24 | 11.6% | 12.9% |
资本支出强度DPZRHP
| Q1 26 | 1.3% | — | ||
| Q4 25 | — | 14.4% | ||
| Q3 25 | 1.9% | 11.8% | ||
| Q2 25 | 1.8% | 10.5% | ||
| Q1 25 | 1.3% | 19.2% | ||
| Q4 24 | 2.9% | 14.0% | ||
| Q3 24 | 2.5% | 24.1% | ||
| Q2 24 | 2.1% | 17.2% |
现金转化率DPZRHP
| Q1 26 | 1.16× | — | ||
| Q4 25 | — | 2.21× | ||
| Q3 25 | 1.33× | 5.88× | ||
| Q2 25 | 1.43× | 1.71× | ||
| Q1 25 | 1.20× | 1.56× | ||
| Q4 24 | 1.05× | 2.30× | ||
| Q3 24 | 1.18× | 3.70× | ||
| Q2 24 | 1.06× | 1.83× |
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% |
RHP
| Hotel Other | $157.7M | 21% |
| Gaylord Opryland | $147.4M | 20% |
| Hotel Transient Rooms | $93.6M | 13% |
| Hotel Food And Beverage Outlets | $92.2M | 12% |
| Gaylord Palms | $88.2M | 12% |
| Jw Marriott Hill Country | $53.7M | 7% |
| Entertainment Admissions And Ticketing | $43.1M | 6% |
| Entertainment Food And Beverage | $38.1M | 5% |
| Entertainment Retail And Other | $28.3M | 4% |
| Ac Hotel | $2.4M | 0% |
