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H2O AMERICA（HTO）与百胜餐饮集团（LCUT）财务数据对比。点击上方公司名可切换其他公司
百胜餐饮集团的季度营收约是H2O AMERICA的1.0倍（$204.1M vs $199.4M），百胜餐饮集团净利率更高（8.9% vs 8.1%，领先0.8%），H2O AMERICA同比增速更快（1.5% vs -5.2%），过去两年百胜餐饮集团的营收复合增速更高（19.8% vs 15.3%）
H2O Wireless是美国的预付费移动通信服务商，依托AT&T网络运营，隶属于MVNO（移动虚拟网络运营商）Locus通信，自2019年起Locus成为Telrite控股的子公司，此前2010年起曾是KDDI美国旗下资产。该品牌主打无限制套餐服务，支持用户自带或购买无锁智能手机入网，AT&T合约机/锁网机也可兼容使用。
百胜餐饮集团是美国跨国快餐企业，1977年百事可乐收购肯德基、必胜客、塔可Bell后将其整合为旗下子公司，1997年百事剥离该业务板块后正式独立为百胜集团。集团目前运营肯德基、必胜客、塔可Bell、哈比特汉堡等多个餐饮品牌，同时布局相关餐饮科技业务，门店网络遍布全球多个国家和地区。
HTO vs LCUT — 直观对比
营收规模更大
LCUT
是对方的1.0倍
$199.4M
营收增速更快
HTO
高出6.6%
-5.2%
净利率更高
LCUT
高出0.8%
8.1%
两年增速更快
LCUT
近两年复合增速
15.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.4M | $204.1M |
| 净利润 | $16.2M | $18.2M |
| 毛利率 | — | 38.6% |
| 营业利润率 | 16.6% | 9.8% |
| 净利率 | 8.1% | 8.9% |
| 营收同比 | 1.5% | -5.2% |
| 净利润同比 | -29.2% | 103.5% |
| 每股收益（稀释后） | $0.45 | $0.83 |
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HTOLCUT
| Q4 25 | $199.4M | $204.1M | ||
| Q3 25 | $243.5M | $171.9M | ||
| Q2 25 | $197.8M | $131.9M | ||
| Q1 25 | $164.9M | $140.1M | ||
| Q4 24 | $196.5M | $215.2M | ||
| Q3 24 | $216.7M | $183.8M | ||
| Q2 24 | $173.1M | $141.7M | ||
| Q1 24 | $150.0M | $142.2M |
净利润HTOLCUT
| Q4 25 | $16.2M | $18.2M | ||
| Q3 25 | $45.1M | $-1.2M | ||
| Q2 25 | $24.7M | $-39.7M | ||
| Q1 25 | $16.6M | $-4.2M | ||
| Q4 24 | $22.9M | $8.9M | ||
| Q3 24 | $38.7M | $344.0K | ||
| Q2 24 | $20.7M | $-18.2M | ||
| Q1 24 | $11.7M | $-6.3M |
毛利率HTOLCUT
| Q4 25 | — | 38.6% | ||
| Q3 25 | — | 35.1% | ||
| Q2 25 | — | 38.6% | ||
| Q1 25 | — | 36.1% | ||
| Q4 24 | — | 37.7% | ||
| Q3 24 | — | 36.7% | ||
| Q2 24 | — | 38.5% | ||
| Q1 24 | — | 40.5% |
营业利润率HTOLCUT
| Q4 25 | 16.6% | 9.8% | ||
| Q3 25 | 26.5% | 3.9% | ||
| Q2 25 | 22.2% | -28.2% | ||
| Q1 25 | 21.8% | 0.8% | ||
| Q4 24 | 22.2% | 7.2% | ||
| Q3 24 | 26.9% | 4.7% | ||
| Q2 24 | 23.4% | 0.8% | ||
| Q1 24 | 18.6% | 1.3% |
净利率HTOLCUT
| Q4 25 | 8.1% | 8.9% | ||
| Q3 25 | 18.5% | -0.7% | ||
| Q2 25 | 12.5% | -30.1% | ||
| Q1 25 | 10.0% | -3.0% | ||
| Q4 24 | 11.7% | 4.1% | ||
| Q3 24 | 17.8% | 0.2% | ||
| Q2 24 | 12.0% | -12.8% | ||
| Q1 24 | 7.8% | -4.4% |
每股收益（稀释后）HTOLCUT
| Q4 25 | $0.45 | $0.83 | ||
| Q3 25 | $1.27 | $-0.05 | ||
| Q2 25 | $0.71 | $-1.83 | ||
| Q1 25 | $0.49 | $-0.19 | ||
| Q4 24 | $0.70 | $0.41 | ||
| Q3 24 | $1.17 | $0.02 | ||
| Q2 24 | $0.64 | $-0.85 | ||
| Q1 24 | $0.36 | $-0.29 |
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 | $20.7M | $4.3M |
| 总债务越低越好 | $1.9B | $135.0M |
| 股东权益账面价值 | $1.5B | $202.3M |
| 总资产 | $5.1B | $572.6M |
| 负债/权益比越低杠杆越低 | 1.23× | 0.67× |
8季度趋势，按日历期对齐
现金及短期投资HTOLCUT
| Q4 25 | $20.7M | $4.3M | ||
| Q3 25 | $11.3M | $12.1M | ||
| Q2 25 | $19.8M | $12.0M | ||
| Q1 25 | $23.7M | $10.4M | ||
| Q4 24 | $11.1M | $2.9M | ||
| Q3 24 | $4.0M | $6.0M | ||
| Q2 24 | $22.8M | $3.4M | ||
| Q1 24 | $4.5M | $4.6M |
总债务HTOLCUT
| Q4 25 | $1.9B | $135.0M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.7B | $142.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益HTOLCUT
| Q4 25 | $1.5B | $202.3M | ||
| Q3 25 | $1.5B | $184.6M | ||
| Q2 25 | $1.5B | $185.8M | ||
| Q1 25 | $1.4B | $225.7M | ||
| Q4 24 | $1.4B | $229.9M | ||
| Q3 24 | $1.3B | $220.9M | ||
| Q2 24 | $1.3B | $219.8M | ||
| Q1 24 | $1.2B | $223.7M |
总资产HTOLCUT
| Q4 25 | $5.1B | $572.6M | ||
| Q3 25 | $5.0B | $581.1M | ||
| Q2 25 | $4.8B | $551.9M | ||
| Q1 25 | $4.7B | $594.6M | ||
| Q4 24 | $4.7B | $634.3M | ||
| Q3 24 | $4.6B | $668.7M | ||
| Q2 24 | $4.4B | $617.0M | ||
| Q1 24 | $4.4B | $602.7M |
负债/权益比HTOLCUT
| Q4 25 | 1.23× | 0.67× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.26× | 0.62× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $63.5M | $3.7M |
| 自由现金流经营现金流 - 资本支出 | — | $2.6M |
| 自由现金流率自由现金流/营收 | — | 1.3% |
| 资本支出强度资本支出/营收 | — | 0.6% |
| 现金转化率经营现金流/净利润 | 3.92× | 0.21× |
| 过去12个月自由现金流最近4个季度 | — | $3.3M |
8季度趋势，按日历期对齐
经营现金流HTOLCUT
| Q4 25 | $63.5M | $3.7M | ||
| Q3 25 | $77.3M | $-22.2M | ||
| Q2 25 | $60.8M | $9.3M | ||
| Q1 25 | $43.2M | $16.7M | ||
| Q4 24 | $41.5M | $20.3M | ||
| Q3 24 | $53.5M | $-22.7M | ||
| Q2 24 | $49.3M | $10.4M | ||
| Q1 24 | $51.2M | $10.5M |
自由现金流HTOLCUT
| Q4 25 | — | $2.6M | ||
| Q3 25 | — | $-22.7M | ||
| Q2 25 | — | $8.2M | ||
| Q1 25 | — | $15.1M | ||
| Q4 24 | — | $19.7M | ||
| Q3 24 | — | $-23.2M | ||
| Q2 24 | — | $9.9M | ||
| Q1 24 | — | $9.9M |
自由现金流率HTOLCUT
| Q4 25 | — | 1.3% | ||
| Q3 25 | — | -13.2% | ||
| Q2 25 | — | 6.2% | ||
| Q1 25 | — | 10.8% | ||
| Q4 24 | — | 9.1% | ||
| Q3 24 | — | -12.6% | ||
| Q2 24 | — | 7.0% | ||
| Q1 24 | — | 7.0% |
资本支出强度HTOLCUT
| Q4 25 | — | 0.6% | ||
| Q3 25 | — | 0.3% | ||
| Q2 25 | — | 0.9% | ||
| Q1 25 | — | 1.1% | ||
| Q4 24 | — | 0.3% | ||
| Q3 24 | — | 0.3% | ||
| Q2 24 | — | 0.4% | ||
| Q1 24 | — | 0.4% |
现金转化率HTOLCUT
| Q4 25 | 3.92× | 0.21× | ||
| Q3 25 | 1.71× | — | ||
| Q2 25 | 2.47× | — | ||
| Q1 25 | 2.61× | — | ||
| Q4 24 | 1.81× | 2.28× | ||
| Q3 24 | 1.39× | -65.89× | ||
| Q2 24 | 2.38× | — | ||
| Q1 24 | 4.38× | — |
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
HTO
| Water Utility Services | $191.0M | 96% |
| Other | $8.4M | 4% |
LCUT
| Kitchenware | $114.3M | 56% |
| Tableware | $41.7M | 20% |
| Home Solutions | $29.4M | 14% |
| Other | $18.8M | 9% |
