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百胜餐饮集团（LCUT）与PLUG POWER INC（PLUG）财务数据对比。点击上方公司名可切换其他公司
PLUG POWER INC的季度营收约是百胜餐饮集团的1.1倍（$225.2M vs $204.1M），百胜餐饮集团净利率更高（8.9% vs -375.6%，领先384.5%），PLUG POWER INC同比增速更快（17.6% vs -5.2%），百胜餐饮集团自由现金流更多（$2.6M vs $-153.0M），过去两年PLUG POWER INC的营收复合增速更高（36.8% vs 19.8%）
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。
普拉格能源是一家美国企业，专注于氢燃料电池和电解槽系统的研发，其产品可替代电动设备及车辆所使用的传统电池。公司总部位于纽约州斯林格兰兹，在华盛顿州斯波坎、纽约州罗切斯特均设有生产运营基地。
LCUT vs PLUG — 直观对比
营收规模更大
PLUG
是对方的1.1倍
$204.1M
营收增速更快
PLUG
高出22.8%
-5.2%
净利率更高
LCUT
高出384.5%
-375.6%
自由现金流更多
LCUT
多$155.6M
$-153.0M
两年增速更快
PLUG
近两年复合增速
19.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $204.1M | $225.2M |
| 净利润 | $18.2M | $-846.0M |
| 毛利率 | 38.6% | 2.4% |
| 营业利润率 | 9.8% | -338.9% |
| 净利率 | 8.9% | -375.6% |
| 营收同比 | -5.2% | 17.6% |
| 净利润同比 | 103.5% | 36.7% |
| 每股收益（稀释后） | $0.83 | $-0.70 |
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LCUTPLUG
| Q4 25 | $204.1M | $225.2M | ||
| Q3 25 | $171.9M | $177.1M | ||
| Q2 25 | $131.9M | $174.0M | ||
| Q1 25 | $140.1M | $133.7M | ||
| Q4 24 | $215.2M | $191.5M | ||
| Q3 24 | $183.8M | $173.7M | ||
| Q2 24 | $141.7M | $143.3M | ||
| Q1 24 | $142.2M | $120.3M |
净利润LCUTPLUG
| Q4 25 | $18.2M | $-846.0M | ||
| Q3 25 | $-1.2M | $-361.9M | ||
| Q2 25 | $-39.7M | $-227.1M | ||
| Q1 25 | $-4.2M | $-196.7M | ||
| Q4 24 | $8.9M | $-1.3B | ||
| Q3 24 | $344.0K | $-211.2M | ||
| Q2 24 | $-18.2M | $-262.3M | ||
| Q1 24 | $-6.3M | $-295.8M |
毛利率LCUTPLUG
| Q4 25 | 38.6% | 2.4% | ||
| Q3 25 | 35.1% | -67.9% | ||
| Q2 25 | 38.6% | -30.7% | ||
| Q1 25 | 36.1% | -55.3% | ||
| Q4 24 | 37.7% | -122.5% | ||
| Q3 24 | 36.7% | -57.6% | ||
| Q2 24 | 38.5% | -91.6% | ||
| Q1 24 | 40.5% | -132.3% |
营业利润率LCUTPLUG
| Q4 25 | 9.8% | -338.9% | ||
| Q3 25 | 3.9% | -197.0% | ||
| Q2 25 | -28.2% | -101.7% | ||
| Q1 25 | 0.8% | -133.5% | ||
| Q4 24 | 7.2% | -678.7% | ||
| Q3 24 | 4.7% | -124.4% | ||
| Q2 24 | 0.8% | -170.7% | ||
| Q1 24 | 1.3% | -215.7% |
净利率LCUTPLUG
| Q4 25 | 8.9% | -375.6% | ||
| Q3 25 | -0.7% | -204.4% | ||
| Q2 25 | -30.1% | -130.5% | ||
| Q1 25 | -3.0% | -147.1% | ||
| Q4 24 | 4.1% | -697.5% | ||
| Q3 24 | 0.2% | -121.5% | ||
| Q2 24 | -12.8% | -183.0% | ||
| Q1 24 | -4.4% | -245.9% |
每股收益（稀释后）LCUTPLUG
| Q4 25 | $0.83 | $-0.70 | ||
| Q3 25 | $-0.05 | $-0.31 | ||
| Q2 25 | $-1.83 | $-0.20 | ||
| Q1 25 | $-0.19 | $-0.21 | ||
| Q4 24 | $0.41 | $-1.61 | ||
| Q3 24 | $0.02 | $-0.25 | ||
| Q2 24 | $-0.85 | $-0.36 | ||
| Q1 24 | $-0.29 | $-0.46 |
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 | $4.3M | $368.5M |
| 总债务越低越好 | $135.0M | — |
| 股东权益账面价值 | $202.3M | $978.1M |
| 总资产 | $572.6M | $2.6B |
| 负债/权益比越低杠杆越低 | 0.67× | — |
8季度趋势，按日历期对齐
现金及短期投资LCUTPLUG
| Q4 25 | $4.3M | $368.5M | ||
| Q3 25 | $12.1M | $165.9M | ||
| Q2 25 | $12.0M | $140.7M | ||
| Q1 25 | $10.4M | $295.8M | ||
| Q4 24 | $2.9M | $205.7M | ||
| Q3 24 | $6.0M | $93.9M | ||
| Q2 24 | $3.4M | $62.4M | ||
| Q1 24 | $4.6M | $172.9M |
总债务LCUTPLUG
| Q4 25 | $135.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $142.5M | — | ||
| Q3 24 | — | $3.9M | ||
| Q2 24 | — | $3.7M | ||
| Q1 24 | — | $3.8M |
股东权益LCUTPLUG
| Q4 25 | $202.3M | $978.1M | ||
| Q3 25 | $184.6M | $1.4B | ||
| Q2 25 | $185.8M | $1.7B | ||
| Q1 25 | $225.7M | $1.9B | ||
| Q4 24 | $229.9M | $1.7B | ||
| Q3 24 | $220.9M | $3.0B | ||
| Q2 24 | $219.8M | $3.0B | ||
| Q1 24 | $223.7M | $2.9B |
总资产LCUTPLUG
| Q4 25 | $572.6M | $2.6B | ||
| Q3 25 | $581.1M | $3.1B | ||
| Q2 25 | $551.9M | $3.4B | ||
| Q1 25 | $594.6M | $3.6B | ||
| Q4 24 | $634.3M | $3.6B | ||
| Q3 24 | $668.7M | $4.7B | ||
| Q2 24 | $617.0M | $4.8B | ||
| Q1 24 | $602.7M | $4.8B |
负债/权益比LCUTPLUG
| Q4 25 | 0.67× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.62× | — | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× | ||
| Q1 24 | — | 0.00× |
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 | $3.7M | $-148.6M |
| 自由现金流经营现金流 - 资本支出 | $2.6M | $-153.0M |
| 自由现金流率自由现金流/营收 | 1.3% | -67.9% |
| 资本支出强度资本支出/营收 | 0.6% | 1.9% |
| 现金转化率经营现金流/净利润 | 0.21× | — |
| 过去12个月自由现金流最近4个季度 | $3.3M | $-647.0M |
8季度趋势，按日历期对齐
经营现金流LCUTPLUG
| Q4 25 | $3.7M | $-148.6M | ||
| Q3 25 | $-22.2M | $-89.8M | ||
| Q2 25 | $9.3M | $-191.8M | ||
| Q1 25 | $16.7M | $-105.6M | ||
| Q4 24 | $20.3M | $-131.2M | ||
| Q3 24 | $-22.7M | $-174.9M | ||
| Q2 24 | $10.4M | $-254.7M | ||
| Q1 24 | $10.5M | $-167.7M |
自由现金流LCUTPLUG
| Q4 25 | $2.6M | $-153.0M | ||
| Q3 25 | $-22.7M | $-117.5M | ||
| Q2 25 | $8.2M | $-230.4M | ||
| Q1 25 | $15.1M | $-146.0M | ||
| Q4 24 | $19.7M | $-165.2M | ||
| Q3 24 | $-23.2M | $-234.2M | ||
| Q2 24 | $9.9M | $-356.0M | ||
| Q1 24 | $9.9M | $-260.3M |
自由现金流率LCUTPLUG
| Q4 25 | 1.3% | -67.9% | ||
| Q3 25 | -13.2% | -66.4% | ||
| Q2 25 | 6.2% | -132.5% | ||
| Q1 25 | 10.8% | -109.2% | ||
| Q4 24 | 9.1% | -86.3% | ||
| Q3 24 | -12.6% | -134.8% | ||
| Q2 24 | 7.0% | -248.4% | ||
| Q1 24 | 7.0% | -216.5% |
资本支出强度LCUTPLUG
| Q4 25 | 0.6% | 1.9% | ||
| Q3 25 | 0.3% | 15.6% | ||
| Q2 25 | 0.9% | 22.2% | ||
| Q1 25 | 1.1% | 30.3% | ||
| Q4 24 | 0.3% | 17.7% | ||
| Q3 24 | 0.3% | 34.1% | ||
| Q2 24 | 0.4% | 70.7% | ||
| Q1 24 | 0.4% | 77.0% |
现金转化率LCUTPLUG
| Q4 25 | 0.21× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.28× | — | ||
| Q3 24 | -65.89× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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
LCUT
| Kitchenware | $114.3M | 56% |
| Tableware | $41.7M | 20% |
| Home Solutions | $29.4M | 14% |
| Other | $18.8M | 9% |
PLUG
| Sales Of Equipment And Related Infrastructure | $111.6M | 50% |
| Services Performed On Fuel Cell Systems And Related Infrastructure | $41.5M | 18% |
| Power Purchase Agreements | $36.1M | 16% |
| Sale Of Cryogenic Equipment | $20.0M | 9% |
| Sales Of Fuel Cell Systems | $11.2M | 5% |
| Other | $4.8M | 2% |
