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达美乐（DPZ）与Royalty Pharma plc（RPRX）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Royalty Pharma plc的1.8倍（$1.2B vs $622.0M），Royalty Pharma plc净利率更高（34.4% vs 12.2%，领先22.3%），Royalty Pharma plc同比增速更快（4.8% vs 3.5%），过去两年Royalty Pharma plc的营收复合增速更高（4.6% 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。
本公司是总部位于美国马萨诸塞州剑桥市的临床阶段生物制药企业，专注于研发可调节转化生长因子β（TGF-β）超家族蛋白的药物，该类蛋白在红细胞、肌肉、骨骼、血管等细胞与组织的生长修复过程中发挥核心作用。
DPZ vs RPRX — 直观对比
营收规模更大
DPZ
是对方的1.8倍
$622.0M
营收增速更快
RPRX
高出1.3%
3.5%
净利率更高
RPRX
高出22.3%
12.2%
两年增速更快
RPRX
近两年复合增速
3.0%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $622.0M |
| 净利润 | $139.8M | $214.2M |
| 毛利率 | 40.4% | — |
| 营业利润率 | 20.0% | 62.4% |
| 净利率 | 12.2% | 34.4% |
| 营收同比 | 3.5% | 4.8% |
| 净利润同比 | -6.6% | 2.9% |
| 每股收益（稀释后） | $4.13 | $0.49 |
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DPZRPRX
| Q1 26 | $1.2B | — | ||
| Q4 25 | — | $622.0M | ||
| Q3 25 | $1.1B | $609.3M | ||
| Q2 25 | $1.1B | $578.7M | ||
| Q1 25 | $1.1B | $568.2M | ||
| Q4 24 | $1.4B | $593.6M | ||
| Q3 24 | $1.1B | $564.7M | ||
| Q2 24 | $1.1B | $537.3M |
净利润DPZRPRX
| Q1 26 | $139.8M | — | ||
| Q4 25 | — | $214.2M | ||
| Q3 25 | $139.3M | $288.2M | ||
| Q2 25 | $131.1M | $30.2M | ||
| Q1 25 | $149.7M | $238.3M | ||
| Q4 24 | $169.4M | $208.2M | ||
| Q3 24 | $146.9M | $544.0M | ||
| Q2 24 | $142.0M | $102.0M |
毛利率DPZRPRX
| Q1 26 | 40.4% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 40.1% | — | ||
| Q2 25 | 40.3% | — | ||
| Q1 25 | 39.8% | — | ||
| Q4 24 | 39.2% | — | ||
| Q3 24 | 39.2% | — | ||
| Q2 24 | 39.8% | — |
营业利润率DPZRPRX
| Q1 26 | 20.0% | — | ||
| Q4 25 | — | 62.4% | ||
| Q3 25 | 19.5% | 70.1% | ||
| Q2 25 | 19.7% | 36.3% | ||
| Q1 25 | 18.9% | 94.0% | ||
| Q4 24 | 19.0% | 60.9% | ||
| Q3 24 | 18.4% | — | ||
| Q2 24 | 17.9% | 50.2% |
净利率DPZRPRX
| Q1 26 | 12.2% | — | ||
| Q4 25 | — | 34.4% | ||
| Q3 25 | 12.1% | 47.3% | ||
| Q2 25 | 11.4% | 5.2% | ||
| Q1 25 | 13.5% | 41.9% | ||
| Q4 24 | 11.7% | 35.1% | ||
| Q3 24 | 13.6% | 96.3% | ||
| Q2 24 | 12.9% | 19.0% |
每股收益（稀释后）DPZRPRX
| Q1 26 | $4.13 | — | ||
| Q4 25 | — | $0.49 | ||
| Q3 25 | $4.08 | $0.67 | ||
| Q2 25 | $3.81 | $0.07 | ||
| Q1 25 | $4.33 | $0.55 | ||
| Q4 24 | $4.89 | $0.46 | ||
| Q3 24 | $4.19 | $1.21 | ||
| Q2 24 | $4.03 | $0.23 |
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 | $618.7M |
| 总债务越低越好 | $4.9B | $9.0B |
| 股东权益账面价值 | — | $9.7B |
| 总资产 | $1.8B | $19.6B |
| 负债/权益比越低杠杆越低 | — | 0.92× |
8季度趋势，按日历期对齐
现金及短期投资DPZRPRX
| Q1 26 | $232.9M | — | ||
| Q4 25 | — | $618.7M | ||
| Q3 25 | $139.7M | $938.9M | ||
| Q2 25 | $272.9M | $631.9M | ||
| Q1 25 | $304.3M | $1.1B | ||
| Q4 24 | $186.1M | $929.0M | ||
| Q3 24 | $189.1M | $950.1M | ||
| Q2 24 | $283.7M | $1.8B |
总债务DPZRPRX
| Q1 26 | $4.9B | — | ||
| Q4 25 | — | $9.0B | ||
| Q3 25 | $4.8B | $8.9B | ||
| Q2 25 | $3.8B | $8.0B | ||
| Q1 25 | $3.8B | $7.6B | ||
| Q4 24 | $3.8B | $7.6B | ||
| Q3 24 | $5.0B | $7.6B | ||
| Q2 24 | $5.0B | $7.6B |
股东权益DPZRPRX
| Q1 26 | — | — | ||
| Q4 25 | — | $9.7B | ||
| Q3 25 | $-4.0B | $9.6B | ||
| Q2 25 | $-4.0B | $9.5B | ||
| Q1 25 | $-3.9B | $9.8B | ||
| Q4 24 | $-4.0B | $10.3B | ||
| Q3 24 | $-4.0B | $10.3B | ||
| Q2 24 | $-3.9B | $9.8B |
总资产DPZRPRX
| Q1 26 | $1.8B | — | ||
| Q4 25 | — | $19.6B | ||
| Q3 25 | $1.7B | $19.3B | ||
| Q2 25 | $1.8B | $18.3B | ||
| Q1 25 | $1.9B | $17.6B | ||
| Q4 24 | $1.7B | $18.2B | ||
| Q3 24 | $1.8B | $18.0B | ||
| Q2 24 | $1.9B | $17.7B |
负债/权益比DPZRPRX
| Q1 26 | — | — | ||
| Q4 25 | — | 0.92× | ||
| Q3 25 | — | 0.93× | ||
| Q2 25 | — | 0.84× | ||
| Q1 25 | — | 0.78× | ||
| Q4 24 | — | 0.74× | ||
| Q3 24 | — | 0.74× | ||
| Q2 24 | — | 0.78× |
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 | $827.1M |
| 自由现金流经营现金流 - 资本支出 | $147.0M | — |
| 自由现金流率自由现金流/营收 | 12.8% | — |
| 资本支出强度资本支出/营收 | 1.3% | — |
| 现金转化率经营现金流/净利润 | 1.16× | 3.86× |
| 过去12个月自由现金流最近4个季度 | $642.6M | — |
8季度趋势，按日历期对齐
经营现金流DPZRPRX
| Q1 26 | $162.0M | — | ||
| Q4 25 | — | $827.1M | ||
| Q3 25 | $185.4M | $702.6M | ||
| Q2 25 | $187.8M | $364.0M | ||
| Q1 25 | $179.1M | $596.1M | ||
| Q4 24 | $178.0M | $742.5M | ||
| Q3 24 | $172.7M | $703.6M | ||
| Q2 24 | $150.7M | $658.2M |
自由现金流DPZRPRX
| Q1 26 | $147.0M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $164.0M | — | ||
| Q2 25 | $167.3M | — | ||
| Q1 25 | $164.3M | — | ||
| Q4 24 | $135.9M | — | ||
| Q3 24 | $145.6M | — | ||
| Q2 24 | $127.2M | — |
自由现金流率DPZRPRX
| Q1 26 | 12.8% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 14.3% | — | ||
| Q2 25 | 14.6% | — | ||
| Q1 25 | 14.8% | — | ||
| Q4 24 | 9.4% | — | ||
| Q3 24 | 13.5% | — | ||
| Q2 24 | 11.6% | — |
资本支出强度DPZRPRX
| Q1 26 | 1.3% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 1.9% | — | ||
| Q2 25 | 1.8% | — | ||
| Q1 25 | 1.3% | — | ||
| Q4 24 | 2.9% | — | ||
| Q3 24 | 2.5% | — | ||
| Q2 24 | 2.1% | — |
现金转化率DPZRPRX
| Q1 26 | 1.16× | — | ||
| Q4 25 | — | 3.86× | ||
| Q3 25 | 1.33× | 2.44× | ||
| Q2 25 | 1.43× | 12.06× | ||
| Q1 25 | 1.20× | 2.50× | ||
| Q4 24 | 1.05× | 3.57× | ||
| Q3 24 | 1.18× | 1.29× | ||
| Q2 24 | 1.06× | 6.45× |
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% |
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
