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万宝盛华（MAN）与百胜餐饮集团（YUM）财务数据对比。点击上方公司名可切换其他公司
万宝盛华的季度营收约是百胜餐饮集团的1.9倍（$4.7B vs $2.5B），百胜餐饮集团净利率更高（21.3% vs 0.6%，领先20.6%），万宝盛华同比增速更快（7.1% vs 6.5%），百胜餐饮集团自由现金流更多（$482.0M vs $168.0M），过去两年百胜餐饮集团的营收复合增速更高（25.5% vs 3.5%）
万宝盛华集团是总部位于美国威斯康星州密尔沃基的跨国人力资源企业，由埃尔默·温特与亚伦·沙因费尔德于1948年创立，目前是全球第三大人力资源服务机构，规模仅次于瑞士德科与荷兰任仕达。集团通过万宝盛华、Experis、睿程、万宝盛华解决方案四大品牌，提供行政支持、专业咨询及各类商务服务。
百胜餐饮集团是美国跨国快餐企业，前身为百事可乐1977年收购肯德基、必胜客、塔可贝尔后成立的子公司，1997年从百事可乐分拆独立。目前集团运营肯德基、必胜客、塔可贝尔、哈比特汉堡等知名餐饮品牌，同时持有多家科技公司为业务发展提供支持。
MAN vs YUM — 直观对比
营收规模更大
MAN
是对方的1.9倍
$2.5B
营收增速更快
MAN
高出0.6%
6.5%
净利率更高
YUM
高出20.6%
0.6%
自由现金流更多
YUM
多$314.0M
$168.0M
两年增速更快
YUM
近两年复合增速
3.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.7B | $2.5B |
| 净利润 | $30.2M | $535.0M |
| 毛利率 | 16.3% | 67.6% |
| 营业利润率 | 1.7% | 29.3% |
| 净利率 | 0.6% | 21.3% |
| 营收同比 | 7.1% | 6.5% |
| 净利润同比 | 34.2% | 26.5% |
| 每股收益（稀释后） | $0.65 | $1.91 |
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MANYUM
| Q4 25 | $4.7B | $2.5B | ||
| Q3 25 | $4.6B | $2.0B | ||
| Q2 25 | $4.5B | $1.9B | ||
| Q1 25 | $4.1B | $1.8B | ||
| Q4 24 | $4.4B | $2.4B | ||
| Q3 24 | $4.5B | $1.8B | ||
| Q2 24 | $4.5B | $1.8B | ||
| Q1 24 | $4.4B | $1.6B |
净利润MANYUM
| Q4 25 | $30.2M | $535.0M | ||
| Q3 25 | $18.0M | $397.0M | ||
| Q2 25 | $-67.1M | $374.0M | ||
| Q1 25 | $5.6M | $253.0M | ||
| Q4 24 | $22.5M | $423.0M | ||
| Q3 24 | $22.8M | $382.0M | ||
| Q2 24 | $60.1M | $367.0M | ||
| Q1 24 | $39.7M | $314.0M |
毛利率MANYUM
| Q4 25 | 16.3% | 67.6% | ||
| Q3 25 | 16.6% | 70.3% | ||
| Q2 25 | 16.9% | 71.0% | ||
| Q1 25 | 17.1% | 70.9% | ||
| Q4 24 | 17.2% | 69.2% | ||
| Q3 24 | 17.3% | 71.4% | ||
| Q2 24 | 17.4% | 73.3% | ||
| Q1 24 | 17.3% | 75.0% |
营业利润率MANYUM
| Q4 25 | 1.7% | 29.3% | ||
| Q3 25 | 1.4% | 33.7% | ||
| Q2 25 | -0.6% | 32.2% | ||
| Q1 25 | 0.7% | 30.7% | ||
| Q4 24 | 1.6% | 27.8% | ||
| Q3 24 | 1.6% | 33.9% | ||
| Q2 24 | 2.2% | 34.4% | ||
| Q1 24 | 1.5% | 32.5% |
净利率MANYUM
| Q4 25 | 0.6% | 21.3% | ||
| Q3 25 | 0.4% | 20.1% | ||
| Q2 25 | -1.5% | 19.3% | ||
| Q1 25 | 0.1% | 14.2% | ||
| Q4 24 | 0.5% | 17.9% | ||
| Q3 24 | 0.5% | 20.9% | ||
| Q2 24 | 1.3% | 20.8% | ||
| Q1 24 | 0.9% | 19.6% |
每股收益（稀释后）MANYUM
| Q4 25 | $0.65 | $1.91 | ||
| Q3 25 | $0.38 | $1.41 | ||
| Q2 25 | $-1.44 | $1.33 | ||
| Q1 25 | $0.12 | $0.90 | ||
| Q4 24 | $0.49 | $1.49 | ||
| Q3 24 | $0.47 | $1.35 | ||
| Q2 24 | $1.24 | $1.28 | ||
| Q1 24 | $0.81 | $1.10 |
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 | $871.0M | $709.0M |
| 总债务越低越好 | $1.1B | $11.9B |
| 股东权益账面价值 | $2.1B | $-7.3B |
| 总资产 | $9.2B | $8.2B |
| 负债/权益比越低杠杆越低 | 0.51× | — |
8季度趋势，按日历期对齐
现金及短期投资MANYUM
| Q4 25 | $871.0M | $709.0M | ||
| Q3 25 | $274.6M | $1.0B | ||
| Q2 25 | $289.8M | $677.0M | ||
| Q1 25 | $395.0M | $607.0M | ||
| Q4 24 | $509.4M | $707.0M | ||
| Q3 24 | $410.9M | $548.0M | ||
| Q2 24 | $468.9M | $520.0M | ||
| Q1 24 | $604.8M | $652.0M |
总债务MANYUM
| Q4 25 | $1.1B | $11.9B | ||
| Q3 25 | $468.3M | $11.5B | ||
| Q2 25 | $470.3M | $10.4B | ||
| Q1 25 | $971.4M | $11.3B | ||
| Q4 24 | $929.4M | $11.3B | ||
| Q3 24 | $999.7M | $11.2B | ||
| Q2 24 | $961.7M | $11.1B | ||
| Q1 24 | $968.9M | $11.1B |
股东权益MANYUM
| Q4 25 | $2.1B | $-7.3B | ||
| Q3 25 | $2.0B | $-7.5B | ||
| Q2 25 | $2.0B | $-7.7B | ||
| Q1 25 | $2.1B | $-7.8B | ||
| Q4 24 | $2.1B | $-7.6B | ||
| Q3 24 | $2.2B | $-7.7B | ||
| Q2 24 | $2.1B | $-7.6B | ||
| Q1 24 | $2.2B | $-7.8B |
总资产MANYUM
| Q4 25 | $9.2B | $8.2B | ||
| Q3 25 | $8.4B | $7.2B | ||
| Q2 25 | $8.5B | $6.9B | ||
| Q1 25 | $8.0B | $6.7B | ||
| Q4 24 | $8.2B | $6.7B | ||
| Q3 24 | $8.5B | $6.5B | ||
| Q2 24 | $8.5B | $6.4B | ||
| Q1 24 | $8.5B | $6.2B |
负债/权益比MANYUM
| Q4 25 | 0.51× | — | ||
| Q3 25 | 0.23× | — | ||
| Q2 25 | 0.24× | — | ||
| Q1 25 | 0.46× | — | ||
| Q4 24 | 0.44× | — | ||
| Q3 24 | 0.46× | — | ||
| Q2 24 | 0.45× | — | ||
| Q1 24 | 0.45× | — |
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 | $178.9M | $617.0M |
| 自由现金流经营现金流 - 资本支出 | $168.0M | $482.0M |
| 自由现金流率自由现金流/营收 | 3.6% | 19.2% |
| 资本支出强度资本支出/营收 | 0.2% | 5.4% |
| 现金转化率经营现金流/净利润 | 5.92× | 1.15× |
| 过去12个月自由现金流最近4个季度 | $-161.4M | $1.6B |
8季度趋势，按日历期对齐
经营现金流MANYUM
| Q4 25 | $178.9M | $617.0M | ||
| Q3 25 | $59.8M | $543.0M | ||
| Q2 25 | $-189.6M | $446.0M | ||
| Q1 25 | $-153.2M | $404.0M | ||
| Q4 24 | $247.6M | $513.0M | ||
| Q3 24 | $83.5M | $471.0M | ||
| Q2 24 | $-137.9M | $342.0M | ||
| Q1 24 | $116.0M | $363.0M |
自由现金流MANYUM
| Q4 25 | $168.0M | $482.0M | ||
| Q3 25 | $44.7M | $449.0M | ||
| Q2 25 | $-207.2M | $375.0M | ||
| Q1 25 | $-166.9M | $333.0M | ||
| Q4 24 | $236.3M | $407.0M | ||
| Q3 24 | $67.4M | $419.0M | ||
| Q2 24 | $-149.8M | $292.0M | ||
| Q1 24 | $104.2M | $314.0M |
自由现金流率MANYUM
| Q4 25 | 3.6% | 19.2% | ||
| Q3 25 | 1.0% | 22.7% | ||
| Q2 25 | -4.6% | 19.4% | ||
| Q1 25 | -4.1% | 18.6% | ||
| Q4 24 | 5.4% | 17.2% | ||
| Q3 24 | 1.5% | 22.9% | ||
| Q2 24 | -3.3% | 16.6% | ||
| Q1 24 | 2.4% | 19.6% |
资本支出强度MANYUM
| Q4 25 | 0.2% | 5.4% | ||
| Q3 25 | 0.3% | 4.7% | ||
| Q2 25 | 0.4% | 3.7% | ||
| Q1 25 | 0.3% | 4.0% | ||
| Q4 24 | 0.3% | 4.5% | ||
| Q3 24 | 0.4% | 2.8% | ||
| Q2 24 | 0.3% | 2.8% | ||
| Q1 24 | 0.3% | 3.1% |
现金转化率MANYUM
| Q4 25 | 5.92× | 1.15× | ||
| Q3 25 | 3.32× | 1.37× | ||
| Q2 25 | — | 1.19× | ||
| Q1 25 | -27.36× | 1.60× | ||
| Q4 24 | 11.00× | 1.21× | ||
| Q3 24 | 3.66× | 1.23× | ||
| Q2 24 | -2.29× | 0.93× | ||
| Q1 24 | 2.92× | 1.16× |
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
MAN
| Other | $2.4B | 52% |
| Transferred Over Time | $1.1B | 24% |
| Staffingand Interim | $1.0B | 22% |
| Productsand Services Other | $50.8M | 1% |
| Permanent Recruitment | $37.5M | 1% |
| Outcome Based Solutionsand Consulting | $20.7M | 0% |
| Transferred At Point In Time | $20.4M | 0% |
YUM
| Other | $1.5B | 59% |
| Advertising | $547.0M | 22% |
| Pizza Hut Global Division | $303.0M | 12% |
| The Habit Burger Grill Global Division | $174.0M | 7% |
| Real Estate | $4.0M | 0% |
