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Masco（MAS）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Masco的1.3倍（$2.5B vs $1.9B），Masco净利率更高（11.9% vs 6.3%，领先5.6%），Restaurant Brands International Inc.同比增速更快（7.4% vs 6.5%），过去两年Restaurant Brands International Inc.的营收复合增速更高（19.1% vs -4.2%）
美国家居建材企业Masco主营家装及新建住宅市场相关产品，旗下拥有20余家子公司，在全球运营近80座生产工厂，其中美国本土近60座，海外地区超20座。公司1969年于纽交所挂牌上市，后实现快速增长，成功跻身美国财富500强榜单。
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。
MAS vs QSR — 直观对比
营收规模更大
QSR
是对方的1.3倍
$1.9B
营收增速更快
QSR
高出0.9%
6.5%
净利率更高
MAS
高出5.6%
6.3%
两年增速更快
QSR
近两年复合增速
-4.2%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $2.5B |
| 净利润 | $228.0M | $155.0M |
| 毛利率 | 35.8% | — |
| 营业利润率 | 16.5% | 25.2% |
| 净利率 | 11.9% | 6.3% |
| 营收同比 | 6.5% | 7.4% |
| 净利润同比 | 14.5% | -57.1% |
| 每股收益（稀释后） | — | $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MASQSR
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.8B | $2.5B | ||
| Q3 25 | $1.9B | $2.4B | ||
| Q2 25 | $2.1B | $2.4B | ||
| Q1 25 | $1.8B | $2.1B | ||
| Q4 24 | $1.8B | $2.3B | ||
| Q3 24 | $2.0B | $2.3B | ||
| Q2 24 | $2.1B | $2.1B |
净利润MASQSR
| Q1 26 | $228.0M | — | ||
| Q4 25 | $165.0M | $155.0M | ||
| Q3 25 | $189.0M | $436.0M | ||
| Q2 25 | $270.0M | $263.0M | ||
| Q1 25 | $186.0M | $221.0M | ||
| Q4 24 | $182.0M | $361.0M | ||
| Q3 24 | $167.0M | $357.0M | ||
| Q2 24 | $258.0M | $399.0M |
毛利率MASQSR
| Q1 26 | 35.8% | — | ||
| Q4 25 | 33.9% | — | ||
| Q3 25 | 34.2% | — | ||
| Q2 25 | 37.6% | — | ||
| Q1 25 | 35.8% | — | ||
| Q4 24 | 34.8% | — | ||
| Q3 24 | 36.6% | — | ||
| Q2 24 | 37.5% | — |
营业利润率MASQSR
| Q1 26 | 16.5% | — | ||
| Q4 25 | 13.8% | 25.2% | ||
| Q3 25 | 15.8% | 27.1% | ||
| Q2 25 | 20.1% | 20.0% | ||
| Q1 25 | 15.9% | 20.6% | ||
| Q4 24 | 15.9% | 27.7% | ||
| Q3 24 | 18.0% | 25.2% | ||
| Q2 24 | 19.0% | 31.9% |
净利率MASQSR
| Q1 26 | 11.9% | — | ||
| Q4 25 | 9.2% | 6.3% | ||
| Q3 25 | 9.9% | 17.8% | ||
| Q2 25 | 13.2% | 10.9% | ||
| Q1 25 | 10.3% | 10.5% | ||
| Q4 24 | 10.0% | 15.7% | ||
| Q3 24 | 8.4% | 15.6% | ||
| Q2 24 | 12.3% | 19.2% |
每股收益（稀释后）MASQSR
| Q1 26 | — | — | ||
| Q4 25 | $0.81 | $0.33 | ||
| Q3 25 | $0.90 | $0.96 | ||
| Q2 25 | $1.28 | $0.57 | ||
| Q1 25 | $0.87 | $0.49 | ||
| Q4 24 | $0.85 | $0.79 | ||
| Q3 24 | $0.77 | $0.79 | ||
| Q2 24 | $1.17 | $0.88 |
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 | — | — |
| 总债务越低越好 | $2.9B | $13.3B |
| 股东权益账面价值 | $27.0M | $3.6B |
| 总资产 | $5.2B | $25.6B |
| 负债/权益比越低杠杆越低 | 109.07× | 3.65× |
8季度趋势，按日历期对齐
现金及短期投资MASQSR
| Q1 26 | — | — | ||
| Q4 25 | $647.0M | — | ||
| Q3 25 | $559.0M | — | ||
| Q2 25 | $390.0M | — | ||
| Q1 25 | $377.0M | — | ||
| Q4 24 | $634.0M | — | ||
| Q3 24 | $646.0M | — | ||
| Q2 24 | $398.0M | — |
总债务MASQSR
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $13.3B | ||
| Q3 25 | — | $13.5B | ||
| Q2 25 | — | $13.6B | ||
| Q1 25 | — | $13.6B | ||
| Q4 24 | $2.9B | $13.6B | ||
| Q3 24 | — | $13.7B | ||
| Q2 24 | — | $13.7B |
股东权益MASQSR
| Q1 26 | $27.0M | — | ||
| Q4 25 | $-185.0M | $3.6B | ||
| Q3 25 | $-78.0M | $3.4B | ||
| Q2 25 | $-84.0M | $3.3B | ||
| Q1 25 | $-254.0M | $3.1B | ||
| Q4 24 | $-279.0M | $3.1B | ||
| Q3 24 | $-88.0M | $3.2B | ||
| Q2 24 | $-26.0M | $3.1B |
总资产MASQSR
| Q1 26 | $5.2B | — | ||
| Q4 25 | $5.2B | $25.6B | ||
| Q3 25 | $5.3B | $25.7B | ||
| Q2 25 | $5.3B | $25.7B | ||
| Q1 25 | $5.1B | $24.9B | ||
| Q4 24 | $5.0B | $24.6B | ||
| Q3 24 | $5.3B | $25.1B | ||
| Q2 24 | $5.4B | $24.8B |
负债/权益比MASQSR
| Q1 26 | 109.07× | — | ||
| Q4 25 | — | 3.65× | ||
| Q3 25 | — | 3.99× | ||
| Q2 25 | — | 4.10× | ||
| Q1 25 | — | 4.37× | ||
| Q4 24 | — | 4.39× | ||
| Q3 24 | — | 4.22× | ||
| Q2 24 | — | 4.46× |
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 | — | $555.0M |
| 自由现金流经营现金流 - 资本支出 | — | $453.0M |
| 自由现金流率自由现金流/营收 | — | 18.4% |
| 资本支出强度资本支出/营收 | 1.8% | 4.1% |
| 现金转化率经营现金流/净利润 | — | 3.58× |
| 过去12个月自由现金流最近4个季度 | — | $1.4B |
8季度趋势，按日历期对齐
经营现金流MASQSR
| Q1 26 | — | — | ||
| Q4 25 | $418.0M | $555.0M | ||
| Q3 25 | $456.0M | $592.0M | ||
| Q2 25 | $306.0M | $449.0M | ||
| Q1 25 | $-158.0M | $118.0M | ||
| Q4 24 | $407.0M | $481.0M | ||
| Q3 24 | $416.0M | $540.0M | ||
| Q2 24 | $346.0M | $334.0M |
自由现金流MASQSR
| Q1 26 | — | — | ||
| Q4 25 | $371.0M | $453.0M | ||
| Q3 25 | $415.0M | $531.0M | ||
| Q2 25 | $270.0M | $411.0M | ||
| Q1 25 | $-190.0M | $54.0M | ||
| Q4 24 | $351.0M | $404.0M | ||
| Q3 24 | $378.0M | $485.0M | ||
| Q2 24 | $303.0M | $291.0M |
自由现金流率MASQSR
| Q1 26 | — | — | ||
| Q4 25 | 20.7% | 18.4% | ||
| Q3 25 | 21.6% | 21.7% | ||
| Q2 25 | 13.2% | 17.1% | ||
| Q1 25 | -10.5% | 2.6% | ||
| Q4 24 | 19.2% | 17.6% | ||
| Q3 24 | 19.1% | 21.2% | ||
| Q2 24 | 14.5% | 14.0% |
资本支出强度MASQSR
| Q1 26 | 1.8% | — | ||
| Q4 25 | 2.6% | 4.1% | ||
| Q3 25 | 2.1% | 2.5% | ||
| Q2 25 | 1.8% | 1.6% | ||
| Q1 25 | 1.8% | 3.0% | ||
| Q4 24 | 3.1% | 3.4% | ||
| Q3 24 | 1.9% | 2.4% | ||
| Q2 24 | 2.1% | 2.1% |
现金转化率MASQSR
| Q1 26 | — | — | ||
| Q4 25 | 2.53× | 3.58× | ||
| Q3 25 | 2.41× | 1.36× | ||
| Q2 25 | 1.13× | 1.71× | ||
| Q1 25 | -0.85× | 0.53× | ||
| Q4 24 | 2.24× | 1.33× | ||
| Q3 24 | 2.49× | 1.51× | ||
| Q2 24 | 1.34× | 0.84× |
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
MAS
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% |
