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达美乐（DPZ）与赛莱默（XYL）财务数据对比。点击上方公司名可切换其他公司
赛莱默的季度营收约是达美乐的1.8倍（$2.1B vs $1.2B），达美乐净利率更高（12.2% vs 8.9%，领先3.3%），达美乐同比增速更快（3.5% vs 2.7%），过去两年达美乐的营收复合增速更高（3.0% vs -1.0%）
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。
该文本为植物学对木质部的定义说明，并非赛莱默公司（Xylem Inc.）的企业业务介绍。Xylem Inc.是一家专注于水技术与解决方案的全球企业，提供水务基础设施、水环境治理等相关设备与服务。
DPZ vs XYL — 直观对比
营收规模更大
XYL
是对方的1.8倍
$1.2B
营收增速更快
DPZ
高出0.8%
2.7%
净利率更高
DPZ
高出3.3%
8.9%
两年增速更快
DPZ
近两年复合增速
-1.0%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $2.1B |
| 净利润 | $139.8M | $189.0M |
| 毛利率 | 40.4% | 37.8% |
| 营业利润率 | 20.0% | 11.5% |
| 净利率 | 12.2% | 8.9% |
| 营收同比 | 3.5% | 2.7% |
| 净利润同比 | -6.6% | 13.2% |
| 每股收益（稀释后） | $4.13 | $0.79 |
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DPZXYL
| Q1 26 | $1.2B | $2.1B | ||
| Q4 25 | — | $2.4B | ||
| Q3 25 | $1.1B | $2.3B | ||
| Q2 25 | $1.1B | $2.3B | ||
| Q1 25 | $1.1B | $2.1B | ||
| Q4 24 | $1.4B | $2.3B | ||
| Q3 24 | $1.1B | $2.1B | ||
| Q2 24 | $1.1B | $2.2B |
净利润DPZXYL
| Q1 26 | $139.8M | $189.0M | ||
| Q4 25 | — | $335.0M | ||
| Q3 25 | $139.3M | $227.0M | ||
| Q2 25 | $131.1M | $226.0M | ||
| Q1 25 | $149.7M | $169.0M | ||
| Q4 24 | $169.4M | $326.0M | ||
| Q3 24 | $146.9M | $217.0M | ||
| Q2 24 | $142.0M | $194.0M |
毛利率DPZXYL
| Q1 26 | 40.4% | 37.8% | ||
| Q4 25 | — | 38.9% | ||
| Q3 25 | 40.1% | 38.9% | ||
| Q2 25 | 40.3% | 38.8% | ||
| Q1 25 | 39.8% | 37.1% | ||
| Q4 24 | 39.2% | 38.0% | ||
| Q3 24 | 39.2% | 37.3% | ||
| Q2 24 | 39.8% | 37.8% |
营业利润率DPZXYL
| Q1 26 | 20.0% | 11.5% | ||
| Q4 25 | — | 14.7% | ||
| Q3 25 | 19.5% | 14.7% | ||
| Q2 25 | 19.7% | 13.3% | ||
| Q1 25 | 18.9% | 11.2% | ||
| Q4 24 | 19.0% | 11.8% | ||
| Q3 24 | 18.4% | 13.3% | ||
| Q2 24 | 17.9% | 11.7% |
净利率DPZXYL
| Q1 26 | 12.2% | 8.9% | ||
| Q4 25 | — | 14.0% | ||
| Q3 25 | 12.1% | 10.0% | ||
| Q2 25 | 11.4% | 9.8% | ||
| Q1 25 | 13.5% | 8.2% | ||
| Q4 24 | 11.7% | 14.5% | ||
| Q3 24 | 13.6% | 10.3% | ||
| Q2 24 | 12.9% | 8.9% |
每股收益（稀释后）DPZXYL
| Q1 26 | $4.13 | $0.79 | ||
| Q4 25 | — | $1.37 | ||
| Q3 25 | $4.08 | $0.93 | ||
| Q2 25 | $3.81 | $0.93 | ||
| Q1 25 | $4.33 | $0.69 | ||
| Q4 24 | $4.89 | $1.33 | ||
| Q3 24 | $4.19 | $0.89 | ||
| Q2 24 | $4.03 | $0.80 |
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 | $808.0M |
| 总债务越低越好 | $4.9B | $1.9B |
| 股东权益账面价值 | — | $11.0B |
| 总资产 | $1.8B | $17.0B |
| 负债/权益比越低杠杆越低 | — | 0.18× |
8季度趋势，按日历期对齐
现金及短期投资DPZXYL
| Q1 26 | $232.9M | $808.0M | ||
| Q4 25 | — | $1.5B | ||
| Q3 25 | $139.7M | $1.2B | ||
| Q2 25 | $272.9M | $1.2B | ||
| Q1 25 | $304.3M | $1.1B | ||
| Q4 24 | $186.1M | $1.1B | ||
| Q3 24 | $189.1M | $989.0M | ||
| Q2 24 | $283.7M | $815.0M |
总债务DPZXYL
| Q1 26 | $4.9B | $1.9B | ||
| Q4 25 | — | $2.0B | ||
| Q3 25 | $4.8B | $2.0B | ||
| Q2 25 | $3.8B | $2.0B | ||
| Q1 25 | $3.8B | $2.0B | ||
| Q4 24 | $3.8B | $2.0B | ||
| Q3 24 | $5.0B | — | ||
| Q2 24 | $5.0B | — |
股东权益DPZXYL
| Q1 26 | — | $11.0B | ||
| Q4 25 | — | $11.5B | ||
| Q3 25 | $-4.0B | $11.2B | ||
| Q2 25 | $-4.0B | $11.1B | ||
| Q1 25 | $-3.9B | $10.8B | ||
| Q4 24 | $-4.0B | $10.6B | ||
| Q3 24 | $-4.0B | $10.6B | ||
| Q2 24 | $-3.9B | $10.3B |
总资产DPZXYL
| Q1 26 | $1.8B | $17.0B | ||
| Q4 25 | — | $17.6B | ||
| Q3 25 | $1.7B | $17.3B | ||
| Q2 25 | $1.8B | $17.2B | ||
| Q1 25 | $1.9B | $16.6B | ||
| Q4 24 | $1.7B | $16.5B | ||
| Q3 24 | $1.8B | $16.0B | ||
| Q2 24 | $1.9B | $15.8B |
负债/权益比DPZXYL
| Q1 26 | — | 0.18× | ||
| Q4 25 | — | 0.17× | ||
| Q3 25 | — | 0.18× | ||
| Q2 25 | — | 0.18× | ||
| Q1 25 | — | 0.19× | ||
| Q4 24 | — | 0.19× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — |
| 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% | 4.2% |
| 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DPZXYL
| Q1 26 | $162.0M | — | ||
| Q4 25 | — | $543.0M | ||
| Q3 25 | $185.4M | $360.0M | ||
| Q2 25 | $187.8M | $305.0M | ||
| Q1 25 | $179.1M | $33.0M | ||
| Q4 24 | $178.0M | $575.0M | ||
| Q3 24 | $172.7M | $311.0M | ||
| Q2 24 | $150.7M | $288.0M |
自由现金流DPZXYL
| Q1 26 | $147.0M | — | ||
| Q4 25 | — | $460.0M | ||
| Q3 25 | $164.0M | $281.0M | ||
| Q2 25 | $167.3M | $207.0M | ||
| Q1 25 | $164.3M | $-38.0M | ||
| Q4 24 | $135.9M | $475.0M | ||
| Q3 24 | $145.6M | $237.0M | ||
| Q2 24 | $127.2M | $215.0M |
自由现金流率DPZXYL
| Q1 26 | 12.8% | — | ||
| Q4 25 | — | 19.2% | ||
| Q3 25 | 14.3% | 12.4% | ||
| Q2 25 | 14.6% | 9.0% | ||
| Q1 25 | 14.8% | -1.8% | ||
| Q4 24 | 9.4% | 21.1% | ||
| Q3 24 | 13.5% | 11.3% | ||
| Q2 24 | 11.6% | 9.9% |
资本支出强度DPZXYL
| Q1 26 | 1.3% | 4.2% | ||
| Q4 25 | — | 3.5% | ||
| Q3 25 | 1.9% | 3.5% | ||
| Q2 25 | 1.8% | 4.3% | ||
| Q1 25 | 1.3% | 3.4% | ||
| Q4 24 | 2.9% | 4.4% | ||
| Q3 24 | 2.5% | 3.5% | ||
| Q2 24 | 2.1% | 3.4% |
现金转化率DPZXYL
| Q1 26 | 1.16× | — | ||
| Q4 25 | — | 1.62× | ||
| Q3 25 | 1.33× | 1.59× | ||
| Q2 25 | 1.43× | 1.35× | ||
| Q1 25 | 1.20× | 0.20× | ||
| Q4 24 | 1.05× | 1.76× | ||
| Q3 24 | 1.18× | 1.43× | ||
| Q2 24 | 1.06× | 1.48× |
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% |
XYL
| Revenue from products | $1.8B | 83% |
| Revenue from services | $368.0M | 17% |
