vs
达美乐（DPZ）与TKO Group Holdings（TKO）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TKO Group Holdings的1.1倍（$1.2B vs $1.0B），达美乐净利率更高（12.2% vs -0.2%，领先12.4%），TKO Group Holdings同比增速更快（61.6% vs 3.5%），过去两年TKO Group Holdings的营收复合增速更高（28.4% 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。
TKO Group Holdings是美国体育及体育娱乐上市企业，成立于2023年9月12日，由奋进集团（Endeavor）子公司、终极格斗冠军赛（UFC）母公司Zuffa与职业摔跤品牌世界摔角娱乐（WWE）合并组建，主营综合格斗、职业摔跤赛事运营及相关娱乐内容业务。
DPZ vs TKO — 直观对比
营收规模更大
DPZ
是对方的1.1倍
$1.0B
营收增速更快
TKO
高出58.2%
3.5%
净利率更高
DPZ
高出12.4%
-0.2%
两年增速更快
TKO
近两年复合增速
3.0%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.0B |
| 净利润 | $139.8M | $-2.4M |
| 毛利率 | 40.4% | — |
| 营业利润率 | 20.0% | 5.5% |
| 净利率 | 12.2% | -0.2% |
| 营收同比 | 3.5% | 61.6% |
| 净利润同比 | -6.6% | -107.7% |
| 每股收益（稀释后） | $4.13 | $-0.07 |
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DPZTKO
| Q1 26 | $1.2B | — | ||
| Q4 25 | — | $1.0B | ||
| Q3 25 | $1.1B | $1.1B | ||
| Q2 25 | $1.1B | $1.3B | ||
| Q1 25 | $1.1B | $1.3B | ||
| Q4 24 | $1.4B | $642.2M | ||
| Q3 24 | $1.1B | $681.3M | ||
| Q2 24 | $1.1B | $851.2M |
净利润DPZTKO
| Q1 26 | $139.8M | — | ||
| Q4 25 | — | $-2.4M | ||
| Q3 25 | $139.3M | $41.0M | ||
| Q2 25 | $131.1M | $98.4M | ||
| Q1 25 | $149.7M | $58.4M | ||
| Q4 24 | $169.4M | $31.0M | ||
| Q3 24 | $146.9M | $23.1M | ||
| Q2 24 | $142.0M | $59.1M |
毛利率DPZTKO
| 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DPZTKO
| Q1 26 | 20.0% | — | ||
| Q4 25 | — | 5.5% | ||
| Q3 25 | 19.5% | 15.4% | ||
| Q2 25 | 19.7% | 28.1% | ||
| Q1 25 | 18.9% | 18.7% | ||
| Q4 24 | 19.0% | 15.9% | ||
| Q3 24 | 18.4% | 20.0% | ||
| Q2 24 | 17.9% | 30.0% |
净利率DPZTKO
| Q1 26 | 12.2% | — | ||
| Q4 25 | — | -0.2% | ||
| Q3 25 | 12.1% | 3.7% | ||
| Q2 25 | 11.4% | 7.5% | ||
| Q1 25 | 13.5% | 4.6% | ||
| Q4 24 | 11.7% | 4.8% | ||
| Q3 24 | 13.6% | 3.4% | ||
| Q2 24 | 12.9% | 6.9% |
每股收益（稀释后）DPZTKO
| Q1 26 | $4.13 | — | ||
| Q4 25 | — | $-0.07 | ||
| Q3 25 | $4.08 | $0.47 | ||
| Q2 25 | $3.81 | $1.17 | ||
| Q1 25 | $4.33 | $0.69 | ||
| Q4 24 | $4.89 | $0.28 | ||
| Q3 24 | $4.19 | $0.28 | ||
| Q2 24 | $4.03 | $0.72 |
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 | $831.1M |
| 总债务越低越好 | $4.9B | $3.8B |
| 股东权益账面价值 | — | $3.7B |
| 总资产 | $1.8B | $15.5B |
| 负债/权益比越低杠杆越低 | — | 1.01× |
8季度趋势，按日历期对齐
现金及短期投资DPZTKO
| Q1 26 | $232.9M | — | ||
| Q4 25 | — | $831.1M | ||
| Q3 25 | $139.7M | $861.4M | ||
| Q2 25 | $272.9M | $535.1M | ||
| Q1 25 | $304.3M | $470.9M | ||
| Q4 24 | $186.1M | $525.6M | ||
| Q3 24 | $189.1M | $457.4M | ||
| Q2 24 | $283.7M | $277.5M |
总债务DPZTKO
| Q1 26 | $4.9B | — | ||
| Q4 25 | — | $3.8B | ||
| Q3 25 | $4.8B | $3.7B | ||
| Q2 25 | $3.8B | $2.7B | ||
| Q1 25 | $3.8B | $2.8B | ||
| Q4 24 | $3.8B | $2.8B | ||
| Q3 24 | $5.0B | $2.7B | ||
| Q2 24 | $5.0B | $2.7B |
股东权益DPZTKO
| Q1 26 | — | — | ||
| Q4 25 | — | $3.7B | ||
| Q3 25 | $-4.0B | $3.8B | ||
| Q2 25 | $-4.0B | $4.3B | ||
| Q1 25 | $-3.9B | $4.2B | ||
| Q4 24 | $-4.0B | $4.1B | ||
| Q3 24 | $-4.0B | $4.0B | ||
| Q2 24 | $-3.9B | $4.0B |
总资产DPZTKO
| Q1 26 | $1.8B | — | ||
| Q4 25 | — | $15.5B | ||
| Q3 25 | $1.7B | $15.5B | ||
| Q2 25 | $1.8B | $15.3B | ||
| Q1 25 | $1.9B | $15.0B | ||
| Q4 24 | $1.7B | $12.7B | ||
| Q3 24 | $1.8B | $12.8B | ||
| Q2 24 | $1.9B | $12.7B |
负债/权益比DPZTKO
| Q1 26 | — | — | ||
| Q4 25 | — | 1.01× | ||
| Q3 25 | — | 0.98× | ||
| Q2 25 | — | 0.64× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 0.67× | ||
| Q3 24 | — | 0.67× | ||
| Q2 24 | — | 0.68× |
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 | $309.9M |
| 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× | — |
| 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DPZTKO
| Q1 26 | $162.0M | — | ||
| Q4 25 | — | $309.9M | ||
| Q3 25 | $185.4M | $416.8M | ||
| Q2 25 | $187.8M | $396.2M | ||
| Q1 25 | $179.1M | $162.8M | ||
| Q4 24 | $178.0M | $56.8M | ||
| Q3 24 | $172.7M | $236.5M | ||
| Q2 24 | $150.7M | $230.7M |
自由现金流DPZTKO
| 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DPZTKO
| 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DPZTKO
| 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DPZTKO
| Q1 26 | 1.16× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 1.33× | 10.16× | ||
| Q2 25 | 1.43× | 4.03× | ||
| Q1 25 | 1.20× | 2.79× | ||
| Q4 24 | 1.05× | 1.83× | ||
| Q3 24 | 1.18× | 10.22× | ||
| Q2 24 | 1.06× | 3.90× |
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% |
TKO
| World Wrestling Entertainment Segment | $359.6M | 35% |
| IMG Segment | $247.6M | 24% |
| Media Rights Production And Content | $222.6M | 21% |
| Partnerships And Marketing | $93.3M | 9% |
| Live Events And Hospitality | $72.2M | 7% |
| Other | $29.4M | 3% |
| Consumer Products Licensing And Other | $13.2M | 1% |
