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达美乐（DPZ）与RXO, Inc.（RXO）财务数据对比。点击上方公司名可切换其他公司
RXO, Inc.的季度营收约是达美乐的1.3倍（$1.5B vs $1.2B），达美乐净利率更高（12.2% vs -3.1%，领先15.3%），达美乐同比增速更快（3.5% vs -11.9%），达美乐自由现金流更多（$147.0M vs $-9.0M），过去两年RXO, Inc.的营收复合增速更高（26.8% 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。
RXO是总部位于美国的头部运输及物流解决方案供应商，核心业务覆盖货运经纪、大件商品最后一公里配送、运输管理服务与全链路供应链优化支持，主要服务北美制造业、零售业及电商领域的客户。
DPZ vs RXO — 直观对比
营收规模更大
RXO
是对方的1.3倍
$1.2B
营收增速更快
DPZ
高出15.3%
-11.9%
净利率更高
DPZ
高出15.3%
-3.1%
自由现金流更多
DPZ
多$156.0M
$-9.0M
两年增速更快
RXO
近两年复合增速
3.0%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.5B |
| 净利润 | $139.8M | $-46.0M |
| 毛利率 | 40.4% | — |
| 营业利润率 | 20.0% | -2.9% |
| 净利率 | 12.2% | -3.1% |
| 营收同比 | 3.5% | -11.9% |
| 净利润同比 | -6.6% | -84.0% |
| 每股收益（稀释后） | $4.13 | $-0.28 |
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DPZRXO
| Q1 26 | $1.2B | — | ||
| Q4 25 | — | $1.5B | ||
| Q3 25 | $1.1B | $1.4B | ||
| Q2 25 | $1.1B | $1.4B | ||
| Q1 25 | $1.1B | $1.4B | ||
| Q4 24 | $1.4B | $1.7B | ||
| Q3 24 | $1.1B | $1.0B | ||
| Q2 24 | $1.1B | $930.0M |
净利润DPZRXO
| Q1 26 | $139.8M | — | ||
| Q4 25 | — | $-46.0M | ||
| Q3 25 | $139.3M | $-14.0M | ||
| Q2 25 | $131.1M | $-9.0M | ||
| Q1 25 | $149.7M | $-31.0M | ||
| Q4 24 | $169.4M | $-25.0M | ||
| Q3 24 | $146.9M | $-243.0M | ||
| Q2 24 | $142.0M | $-7.0M |
毛利率DPZRXO
| 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DPZRXO
| Q1 26 | 20.0% | — | ||
| Q4 25 | — | -2.9% | ||
| Q3 25 | 19.5% | -0.5% | ||
| Q2 25 | 19.7% | — | ||
| Q1 25 | 18.9% | -2.1% | ||
| Q4 24 | 19.0% | -1.4% | ||
| Q3 24 | 18.4% | -1.9% | ||
| Q2 24 | 17.9% | — |
净利率DPZRXO
| Q1 26 | 12.2% | — | ||
| Q4 25 | — | -3.1% | ||
| Q3 25 | 12.1% | -1.0% | ||
| Q2 25 | 11.4% | -0.6% | ||
| Q1 25 | 13.5% | -2.2% | ||
| Q4 24 | 11.7% | -1.5% | ||
| Q3 24 | 13.6% | -23.4% | ||
| Q2 24 | 12.9% | -0.8% |
每股收益（稀释后）DPZRXO
| Q1 26 | $4.13 | — | ||
| Q4 25 | — | $-0.28 | ||
| Q3 25 | $4.08 | $-0.08 | ||
| Q2 25 | $3.81 | $-0.05 | ||
| Q1 25 | $4.33 | $-0.18 | ||
| Q4 24 | $4.89 | $-0.17 | ||
| Q3 24 | $4.19 | $-1.81 | ||
| 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 | $17.0M |
| 总债务越低越好 | $4.9B | $387.0M |
| 股东权益账面价值 | — | $1.5B |
| 总资产 | $1.8B | $3.3B |
| 负债/权益比越低杠杆越低 | — | 0.25× |
8季度趋势，按日历期对齐
现金及短期投资DPZRXO
| Q1 26 | $232.9M | — | ||
| Q4 25 | — | $17.0M | ||
| Q3 25 | $139.7M | $25.0M | ||
| Q2 25 | $272.9M | $18.0M | ||
| Q1 25 | $304.3M | $16.0M | ||
| Q4 24 | $186.1M | $35.0M | ||
| Q3 24 | $189.1M | $55.0M | ||
| Q2 24 | $283.7M | $7.0M |
总债务DPZRXO
| Q1 26 | $4.9B | — | ||
| Q4 25 | — | $387.0M | ||
| Q3 25 | $4.8B | $387.0M | ||
| Q2 25 | $3.8B | $387.0M | ||
| Q1 25 | $3.8B | $387.0M | ||
| Q4 24 | $3.8B | $351.0M | ||
| Q3 24 | $5.0B | $352.0M | ||
| Q2 24 | $5.0B | $370.0M |
股东权益DPZRXO
| Q1 26 | — | — | ||
| Q4 25 | — | $1.5B | ||
| Q3 25 | $-4.0B | $1.6B | ||
| Q2 25 | $-4.0B | $1.6B | ||
| Q1 25 | $-3.9B | $1.6B | ||
| Q4 24 | $-4.0B | $1.6B | ||
| Q3 24 | $-4.0B | $1.7B | ||
| Q2 24 | $-3.9B | $579.0M |
总资产DPZRXO
| Q1 26 | $1.8B | — | ||
| Q4 25 | — | $3.3B | ||
| Q3 25 | $1.7B | $3.2B | ||
| Q2 25 | $1.8B | $3.2B | ||
| Q1 25 | $1.9B | $3.3B | ||
| Q4 24 | $1.7B | $3.4B | ||
| Q3 24 | $1.8B | $3.4B | ||
| Q2 24 | $1.9B | $1.8B |
负债/权益比DPZRXO
| Q1 26 | — | — | ||
| Q4 25 | — | 0.25× | ||
| Q3 25 | — | 0.24× | ||
| Q2 25 | — | 0.24× | ||
| Q1 25 | — | 0.24× | ||
| Q4 24 | — | 0.22× | ||
| Q3 24 | — | 0.21× | ||
| Q2 24 | — | 0.64× |
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 | $7.0M |
| 自由现金流经营现金流 - 资本支出 | $147.0M | $-9.0M |
| 自由现金流率自由现金流/营收 | 12.8% | -0.6% |
| 资本支出强度资本支出/营收 | 1.3% | 1.1% |
| 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 | $-8.0M |
8季度趋势，按日历期对齐
经营现金流DPZRXO
| Q1 26 | $162.0M | — | ||
| Q4 25 | — | $7.0M | ||
| Q3 25 | $185.4M | $23.0M | ||
| Q2 25 | $187.8M | $23.0M | ||
| Q1 25 | $179.1M | $-2.0M | ||
| Q4 24 | $178.0M | $-7.0M | ||
| Q3 24 | $172.7M | $-7.0M | ||
| Q2 24 | $150.7M | $-5.0M |
自由现金流DPZRXO
| Q1 26 | $147.0M | — | ||
| Q4 25 | — | $-9.0M | ||
| Q3 25 | $164.0M | $9.0M | ||
| Q2 25 | $167.3M | $9.0M | ||
| Q1 25 | $164.3M | $-17.0M | ||
| Q4 24 | $135.9M | $-19.0M | ||
| Q3 24 | $145.6M | $-18.0M | ||
| Q2 24 | $127.2M | $-16.0M |
自由现金流率DPZRXO
| Q1 26 | 12.8% | — | ||
| Q4 25 | — | -0.6% | ||
| Q3 25 | 14.3% | 0.6% | ||
| Q2 25 | 14.6% | 0.6% | ||
| Q1 25 | 14.8% | -1.2% | ||
| Q4 24 | 9.4% | -1.1% | ||
| Q3 24 | 13.5% | -1.7% | ||
| Q2 24 | 11.6% | -1.7% |
资本支出强度DPZRXO
| Q1 26 | 1.3% | — | ||
| Q4 25 | — | 1.1% | ||
| Q3 25 | 1.9% | 1.0% | ||
| Q2 25 | 1.8% | 1.0% | ||
| Q1 25 | 1.3% | 1.0% | ||
| Q4 24 | 2.9% | 0.7% | ||
| Q3 24 | 2.5% | 1.1% | ||
| Q2 24 | 2.1% | 1.2% |
现金转化率DPZRXO
| Q1 26 | 1.16× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 1.33× | — | ||
| Q2 25 | 1.43× | — | ||
| Q1 25 | 1.20× | — | ||
| Q4 24 | 1.05× | — | ||
| Q3 24 | 1.18× | — | ||
| 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% |
RXO
| Retail Sector | $546.0M | 37% |
| Last Mile | $298.0M | 20% |
| Food And Beverage Sector | $225.0M | 15% |
| Other Sector | $185.0M | 13% |
| Managed Transportation | $133.0M | 9% |
| Automotive Sector | $93.0M | 6% |
