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Masco（MAS）与Texas Roadhouse, Inc.（TXRH）财务数据对比。点击上方公司名可切换其他公司
Masco的季度营收约是Texas Roadhouse, Inc.的1.1倍（$1.8B vs $1.6B），Masco净利率更高（9.2% vs 7.6%，领先1.6%），Texas Roadhouse, Inc.同比增速更快（12.8% vs -1.9%），过去两年Texas Roadhouse, Inc.的营收复合增速更高（11.2% vs -3.5%）
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。
Texas Roadhouse是美国知名牛排连锁餐厅，主打德克萨斯及美国西南部风味餐食，核心产品为各类牛排。品牌总部位于肯塔基州路易斯维尔，旗下还运营另外两个餐饮品牌。截至2025年8月，品牌在美国49个州拥有约800家门店，同时在11个国家开设了70家海外门店。
MAS vs TXRH — 直观对比
营收规模更大
MAS
是对方的1.1倍
$1.6B
营收增速更快
TXRH
高出14.7%
-1.9%
净利率更高
MAS
高出1.6%
7.6%
两年增速更快
TXRH
近两年复合增速
-3.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $1.6B |
| 净利润 | $165.0M | $123.4M |
| 毛利率 | 33.9% | — |
| 营业利润率 | 13.8% | 9.0% |
| 净利率 | 9.2% | 7.6% |
| 营收同比 | -1.9% | 12.8% |
| 净利润同比 | -9.3% | 8.6% |
| 每股收益（稀释后） | $0.81 | $1.87 |
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MASTXRH
| Q1 26 | — | $1.6B | ||
| Q4 25 | $1.8B | $1.5B | ||
| Q3 25 | $1.9B | $1.4B | ||
| Q2 25 | $2.1B | $1.4B | ||
| Q1 25 | $1.8B | — | ||
| Q4 24 | $1.8B | $1.4B | ||
| Q3 24 | $2.0B | $1.3B | ||
| Q2 24 | $2.1B | $1.3B |
净利润MASTXRH
| Q1 26 | — | $123.4M | ||
| Q4 25 | $165.0M | $86.7M | ||
| Q3 25 | $189.0M | $84.9M | ||
| Q2 25 | $270.0M | $116.1M | ||
| Q1 25 | $186.0M | — | ||
| Q4 24 | $182.0M | $118.5M | ||
| Q3 24 | $167.0M | $86.8M | ||
| Q2 24 | $258.0M | $123.1M |
毛利率MASTXRH
| Q1 26 | — | — | ||
| 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MASTXRH
| Q1 26 | — | 9.0% | ||
| Q4 25 | 13.8% | 6.5% | ||
| Q3 25 | 15.8% | 6.7% | ||
| Q2 25 | 20.1% | 9.3% | ||
| Q1 25 | 15.9% | — | ||
| Q4 24 | 15.9% | 9.6% | ||
| Q3 24 | 18.0% | 8.0% | ||
| Q2 24 | 19.0% | 10.6% |
净利率MASTXRH
| Q1 26 | — | 7.6% | ||
| Q4 25 | 9.2% | 5.8% | ||
| Q3 25 | 9.9% | 5.9% | ||
| Q2 25 | 13.2% | 8.0% | ||
| Q1 25 | 10.3% | — | ||
| Q4 24 | 10.0% | 8.2% | ||
| Q3 24 | 8.4% | 6.8% | ||
| Q2 24 | 12.3% | 9.2% |
每股收益（稀释后）MASTXRH
| Q1 26 | — | $1.87 | ||
| Q4 25 | $0.81 | $1.29 | ||
| Q3 25 | $0.90 | $1.25 | ||
| Q2 25 | $1.28 | $1.70 | ||
| Q1 25 | $0.87 | — | ||
| Q4 24 | $0.85 | $1.73 | ||
| Q3 24 | $0.77 | $1.26 | ||
| Q2 24 | $1.17 | $1.79 |
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 | $647.0M | $214.6M |
| 总债务越低越好 | $2.9B | — |
| 股东权益账面价值 | $-185.0M | — |
| 总资产 | $5.2B | $3.6B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资MASTXRH
| Q1 26 | — | $214.6M | ||
| Q4 25 | $647.0M | $134.7M | ||
| Q3 25 | $559.0M | $108.2M | ||
| Q2 25 | $390.0M | $221.1M | ||
| Q1 25 | $377.0M | — | ||
| Q4 24 | $634.0M | $245.2M | ||
| Q3 24 | $646.0M | $189.2M | ||
| Q2 24 | $398.0M | $197.5M |
总债务MASTXRH
| Q1 26 | — | — | ||
| Q4 25 | $2.9B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $2.9B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益MASTXRH
| Q1 26 | — | — | ||
| Q4 25 | $-185.0M | $1.5B | ||
| Q3 25 | $-78.0M | $1.5B | ||
| Q2 25 | $-84.0M | $1.4B | ||
| Q1 25 | $-254.0M | — | ||
| Q4 24 | $-279.0M | $1.4B | ||
| Q3 24 | $-88.0M | $1.3B | ||
| Q2 24 | $-26.0M | $1.3B |
总资产MASTXRH
| Q1 26 | — | $3.6B | ||
| Q4 25 | $5.2B | $3.5B | ||
| Q3 25 | $5.3B | $3.3B | ||
| Q2 25 | $5.3B | $3.2B | ||
| Q1 25 | $5.1B | — | ||
| Q4 24 | $5.0B | $3.2B | ||
| Q3 24 | $5.3B | $2.9B | ||
| Q2 24 | $5.4B | $2.9B |
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 | $418.0M | $259.1M |
| 自由现金流经营现金流 - 资本支出 | $371.0M | — |
| 自由现金流率自由现金流/营收 | 20.7% | — |
| 资本支出强度资本支出/营收 | 2.6% | 4.9% |
| 现金转化率经营现金流/净利润 | 2.53× | 2.10× |
| 过去12个月自由现金流最近4个季度 | $866.0M | — |
8季度趋势，按日历期对齐
经营现金流MASTXRH
| Q1 26 | — | $259.1M | ||
| Q4 25 | $418.0M | — | ||
| Q3 25 | $456.0M | $143.6M | ||
| Q2 25 | $306.0M | $237.7M | ||
| Q1 25 | $-158.0M | — | ||
| Q4 24 | $407.0M | $237.5M | ||
| Q3 24 | $416.0M | $138.7M | ||
| Q2 24 | $346.0M | $133.9M |
自由现金流MASTXRH
| Q1 26 | — | — | ||
| Q4 25 | $371.0M | — | ||
| Q3 25 | $415.0M | $14.7M | ||
| Q2 25 | $270.0M | $160.4M | ||
| Q1 25 | $-190.0M | — | ||
| Q4 24 | $351.0M | $129.7M | ||
| Q3 24 | $378.0M | $47.7M | ||
| Q2 24 | $303.0M | $56.1M |
自由现金流率MASTXRH
| Q1 26 | — | — | ||
| Q4 25 | 20.7% | — | ||
| Q3 25 | 21.6% | 1.0% | ||
| Q2 25 | 13.2% | 11.1% | ||
| Q1 25 | -10.5% | — | ||
| Q4 24 | 19.2% | 9.0% | ||
| Q3 24 | 19.1% | 3.7% | ||
| Q2 24 | 14.5% | 4.2% |
资本支出强度MASTXRH
| Q1 26 | — | 4.9% | ||
| Q4 25 | 2.6% | — | ||
| Q3 25 | 2.1% | 9.0% | ||
| Q2 25 | 1.8% | 5.3% | ||
| Q1 25 | 1.8% | — | ||
| Q4 24 | 3.1% | 7.5% | ||
| Q3 24 | 1.9% | 7.2% | ||
| Q2 24 | 2.1% | 5.8% |
现金转化率MASTXRH
| Q1 26 | — | 2.10× | ||
| Q4 25 | 2.53× | — | ||
| Q3 25 | 2.41× | 1.69× | ||
| Q2 25 | 1.13× | 2.05× | ||
| Q1 25 | -0.85× | — | ||
| Q4 24 | 2.24× | 2.00× | ||
| Q3 24 | 2.49× | 1.60× | ||
| Q2 24 | 1.34× | 1.09× |
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
| Plumbing Products | $844.0M | 47% |
| Decorative Architectural Products | $545.0M | 30% |
| Other | $404.0M | 23% |
TXRH
| Restaurant and other sales | $1.6B | 100% |
| Royalties and franchise fees | $6.5M | 0% |
