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KeyCorp（KEY）与Restaurant Brands International Inc.（QSR）财务数据对比。点击上方公司名可切换其他公司
Restaurant Brands International Inc.的季度营收约是KeyCorp的1.2倍（$2.5B vs $2.0B），KeyCorp净利率更高（25.4% vs 6.3%，领先19.2%），KeyCorp同比增速更快（131.8% vs 7.4%），KeyCorp自由现金流更多（$2.1B vs $453.0M），过去两年Restaurant Brands International Inc.的营收复合增速更高（19.1% vs 14.4%）
Key是日本知名视觉小说工作室，1998年7月21日作为发行商Visual Arts旗下品牌成立，总部位于大阪市北区。工作室主打剧情向作品，擅长创作情感饱满、情节跌宕的戏剧类内容，旗下多款作品深受全球ACG爱好者喜爱。
Restaurant Brands International（简称RBI）是美加合资的跨国快餐控股企业，2014年由汉堡王与加拿大咖啡连锁品牌蒂姆·霍顿斯以125亿美元合并成立，后续先后收购Popeyes、Firehouse Subs两大品牌，现为全球第五大快餐运营商，规模仅次于赛百味、麦当劳、星巴克和百胜餐饮。
KEY vs QSR — 直观对比
营收规模更大
QSR
是对方的1.2倍
$2.0B
营收增速更快
KEY
高出124.4%
7.4%
净利率更高
KEY
高出19.2%
6.3%
自由现金流更多
KEY
多$1.6B
$453.0M
两年增速更快
QSR
近两年复合增速
14.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $2.5B |
| 净利润 | $510.0M | $155.0M |
| 毛利率 | — | — |
| 营业利润率 | 32.3% | 25.2% |
| 净利率 | 25.4% | 6.3% |
| 营收同比 | 131.8% | 7.4% |
| 净利润同比 | 309.0% | -57.1% |
| 每股收益（稀释后） | $0.43 | $0.33 |
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KEYQSR
| Q4 25 | $2.0B | $2.5B | ||
| Q3 25 | $1.9B | $2.4B | ||
| Q2 25 | $1.8B | $2.4B | ||
| Q1 25 | $1.8B | $2.1B | ||
| Q4 24 | $865.0M | $2.3B | ||
| Q3 24 | $695.0M | $2.3B | ||
| Q2 24 | $1.5B | $2.1B | ||
| Q1 24 | $1.5B | $1.7B |
净利润KEYQSR
| Q4 25 | $510.0M | $155.0M | ||
| Q3 25 | $489.0M | $436.0M | ||
| Q2 25 | $425.0M | $263.0M | ||
| Q1 25 | $405.0M | $221.0M | ||
| Q4 24 | $-244.0M | $361.0M | ||
| Q3 24 | $-410.0M | $357.0M | ||
| Q2 24 | $274.0M | $399.0M | ||
| Q1 24 | $219.0M | $328.0M |
毛利率KEYQSR
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 65.2% |
营业利润率KEYQSR
| Q4 25 | 32.3% | 25.2% | ||
| Q3 25 | 31.8% | 27.1% | ||
| Q2 25 | 29.3% | 20.0% | ||
| Q1 25 | 29.0% | 20.6% | ||
| Q4 24 | -92.6% | 27.7% | ||
| Q3 24 | -72.8% | 25.2% | ||
| Q2 24 | 22.0% | 31.9% | ||
| Q1 24 | 18.1% | 31.3% |
净利率KEYQSR
| Q4 25 | 25.4% | 6.3% | ||
| Q3 25 | 25.8% | 17.8% | ||
| Q2 25 | 23.1% | 10.9% | ||
| Q1 25 | 22.8% | 10.5% | ||
| Q4 24 | -54.7% | 15.7% | ||
| Q3 24 | -59.0% | 15.6% | ||
| Q2 24 | 18.0% | 19.2% | ||
| Q1 24 | 14.3% | 18.9% |
每股收益（稀释后）KEYQSR
| Q4 25 | $0.43 | $0.33 | ||
| Q3 25 | $0.41 | $0.96 | ||
| Q2 25 | $0.35 | $0.57 | ||
| Q1 25 | $0.33 | $0.49 | ||
| Q4 24 | $-0.30 | $0.79 | ||
| Q3 24 | $-0.47 | $0.79 | ||
| Q2 24 | $0.25 | $0.88 | ||
| Q1 24 | $0.20 | $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 | $10.2B | — |
| 总债务越低越好 | $9.9B | $13.3B |
| 股东权益账面价值 | $20.4B | $3.6B |
| 总资产 | $184.4B | $25.6B |
| 负债/权益比越低杠杆越低 | 0.49× | 3.65× |
8季度趋势，按日历期对齐
现金及短期投资KEYQSR
| Q4 25 | $10.2B | — | ||
| Q3 25 | $13.3B | — | ||
| Q2 25 | $11.6B | — | ||
| Q1 25 | $15.3B | — | ||
| Q4 24 | $17.5B | — | ||
| Q3 24 | $22.8B | — | ||
| Q2 24 | $15.5B | — | ||
| Q1 24 | $13.2B | — |
总债务KEYQSR
| Q4 25 | $9.9B | $13.3B | ||
| Q3 25 | $10.9B | $13.5B | ||
| Q2 25 | $12.1B | $13.6B | ||
| Q1 25 | $12.4B | $13.6B | ||
| Q4 24 | $12.1B | $13.6B | ||
| Q3 24 | $15.7B | $13.7B | ||
| Q2 24 | $16.9B | $13.7B | ||
| Q1 24 | $20.8B | $12.9B |
股东权益KEYQSR
| Q4 25 | $20.4B | $3.6B | ||
| Q3 25 | $20.1B | $3.4B | ||
| Q2 25 | $19.5B | $3.3B | ||
| Q1 25 | $19.0B | $3.1B | ||
| Q4 24 | $18.2B | $3.1B | ||
| Q3 24 | $16.9B | $3.2B | ||
| Q2 24 | $14.8B | $3.1B | ||
| Q1 24 | $14.5B | $3.0B |
总资产KEYQSR
| Q4 25 | $184.4B | $25.6B | ||
| Q3 25 | $187.4B | $25.7B | ||
| Q2 25 | $185.5B | $25.7B | ||
| Q1 25 | $188.7B | $24.9B | ||
| Q4 24 | $187.2B | $24.6B | ||
| Q3 24 | $189.8B | $25.1B | ||
| Q2 24 | $187.4B | $24.8B | ||
| Q1 24 | $187.5B | $23.1B |
负债/权益比KEYQSR
| Q4 25 | 0.49× | 3.65× | ||
| Q3 25 | 0.54× | 3.99× | ||
| Q2 25 | 0.62× | 4.10× | ||
| Q1 25 | 0.65× | 4.37× | ||
| Q4 24 | 0.67× | 4.39× | ||
| Q3 24 | 0.93× | 4.22× | ||
| Q2 24 | 1.14× | 4.46× | ||
| Q1 24 | 1.43× | 4.35× |
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 | $2.2B | $555.0M |
| 自由现金流经营现金流 - 资本支出 | $2.1B | $453.0M |
| 自由现金流率自由现金流/营收 | 104.8% | 18.4% |
| 资本支出强度资本支出/营收 | 5.3% | 4.1% |
| 现金转化率经营现金流/净利润 | 4.33× | 3.58× |
| 过去12个月自由现金流最近4个季度 | $3.5B | $1.4B |
8季度趋势，按日历期对齐
经营现金流KEYQSR
| Q4 25 | $2.2B | $555.0M | ||
| Q3 25 | $396.0M | $592.0M | ||
| Q2 25 | $1.2B | $449.0M | ||
| Q1 25 | $-140.0M | $118.0M | ||
| Q4 24 | $664.0M | $481.0M | ||
| Q3 24 | $-1.2B | $540.0M | ||
| Q2 24 | $-217.0M | $334.0M | ||
| Q1 24 | $359.0M | $148.0M |
自由现金流KEYQSR
| Q4 25 | $2.1B | $453.0M | ||
| Q3 25 | $367.0M | $531.0M | ||
| Q2 25 | $1.2B | $411.0M | ||
| Q1 25 | $-150.0M | $54.0M | ||
| Q4 24 | $599.0M | $404.0M | ||
| Q3 24 | $-1.2B | $485.0M | ||
| Q2 24 | $-230.0M | $291.0M | ||
| Q1 24 | $347.0M | $122.0M |
自由现金流率KEYQSR
| Q4 25 | 104.8% | 18.4% | ||
| Q3 25 | 19.4% | 21.7% | ||
| Q2 25 | 65.8% | 17.1% | ||
| Q1 25 | -8.5% | 2.6% | ||
| Q4 24 | 69.2% | 17.6% | ||
| Q3 24 | -175.8% | 21.2% | ||
| Q2 24 | -15.1% | 14.0% | ||
| Q1 24 | 22.6% | 7.0% |
资本支出强度KEYQSR
| Q4 25 | 5.3% | 4.1% | ||
| Q3 25 | 1.5% | 2.5% | ||
| Q2 25 | 1.3% | 1.6% | ||
| Q1 25 | 0.6% | 3.0% | ||
| Q4 24 | 7.5% | 3.4% | ||
| Q3 24 | 2.4% | 2.4% | ||
| Q2 24 | 0.9% | 2.1% | ||
| Q1 24 | 0.8% | 1.5% |
现金转化率KEYQSR
| Q4 25 | 4.33× | 3.58× | ||
| Q3 25 | 0.81× | 1.36× | ||
| Q2 25 | 2.90× | 1.71× | ||
| Q1 25 | -0.35× | 0.53× | ||
| Q4 24 | — | 1.33× | ||
| Q3 24 | — | 1.51× | ||
| Q2 24 | -0.79× | 0.84× | ||
| Q1 24 | 1.64× | 0.45× |
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
KEY
暂无分部数据
QSR
| CA | $1.0B | 41% |
| Other | $330.0M | 13% |
| Advertising | $308.0M | 12% |
| Others | $284.0M | 12% |
| Popeyes Louisiana Kitchen | $195.0M | 8% |
| Burger King | $185.0M | 8% |
| Royalty | $87.0M | 4% |
| Firehouse Subs | $59.0M | 2% |
| Franchisor | $7.0M | 0% |
