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美泰（MAT）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
美泰的季度营收约是Texas Roadhouse, Inc.的1.2倍（$1.8B vs $1.5B），美泰净利率更高（6.0% vs 5.8%，领先0.2%），美泰同比增速更快（7.3% vs 3.1%），过去两年美泰的营收复合增速更高（47.7% vs 12.8%）
美泰是美国知名玩具及娱乐企业，旗下影视制作部门美泰影业运营时间为2018年9月6日至2025年6月2日。其前身为2013年10月16日成立的美泰Playground Productions，更早可追溯至美泰娱乐、美泰工作室等集团原有娱乐业务品牌。
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。
MAT vs TXRH — 直观对比
营收规模更大
MAT
是对方的1.2倍
$1.5B
营收增速更快
MAT
高出4.2%
3.1%
净利率更高
MAT
高出0.2%
5.8%
两年增速更快
MAT
近两年复合增速
12.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $1.5B |
| 净利润 | $106.2M | $86.7M |
| 毛利率 | 45.9% | — |
| 营业利润率 | 8.0% | 6.5% |
| 净利率 | 6.0% | 5.8% |
| 营收同比 | 7.3% | 3.1% |
| 净利润同比 | -24.6% | -26.9% |
| 每股收益（稀释后） | $0.32 | $1.29 |
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MATTXRH
| Q4 25 | $1.8B | $1.5B | ||
| Q3 25 | $1.7B | $1.4B | ||
| Q2 25 | $1.0B | $1.4B | ||
| Q1 25 | $826.6M | — | ||
| Q4 24 | $1.6B | $1.4B | ||
| Q3 24 | $1.8B | $1.3B | ||
| Q2 24 | $1.1B | $1.3B | ||
| Q1 24 | $809.5M | $1.3B |
净利润MATTXRH
| Q4 25 | $106.2M | $86.7M | ||
| Q3 25 | $278.4M | $84.9M | ||
| Q2 25 | $53.4M | $116.1M | ||
| Q1 25 | $-40.3M | — | ||
| Q4 24 | $140.9M | $118.5M | ||
| Q3 24 | $372.4M | $86.8M | ||
| Q2 24 | $56.9M | $123.1M | ||
| Q1 24 | $-28.3M | $116.0M |
毛利率MATTXRH
| Q4 25 | 45.9% | — | ||
| Q3 25 | 50.0% | — | ||
| Q2 25 | 50.9% | — | ||
| Q1 25 | 49.4% | — | ||
| Q4 24 | 50.7% | — | ||
| Q3 24 | 53.1% | — | ||
| Q2 24 | 49.2% | — | ||
| Q1 24 | 48.0% | — |
营业利润率MATTXRH
| Q4 25 | 8.0% | 6.5% | ||
| Q3 25 | 21.9% | 6.7% | ||
| Q2 25 | 7.7% | 9.3% | ||
| Q1 25 | -6.4% | — | ||
| Q4 24 | 9.6% | 9.6% | ||
| Q3 24 | 26.5% | 8.0% | ||
| Q2 24 | 7.7% | 10.6% | ||
| Q1 24 | -4.4% | 10.1% |
净利率MATTXRH
| Q4 25 | 6.0% | 5.8% | ||
| Q3 25 | 16.0% | 5.9% | ||
| Q2 25 | 5.2% | 8.0% | ||
| Q1 25 | -4.9% | — | ||
| Q4 24 | 8.6% | 8.2% | ||
| Q3 24 | 20.2% | 6.8% | ||
| Q2 24 | 5.3% | 9.2% | ||
| Q1 24 | -3.5% | 8.8% |
每股收益（稀释后）MATTXRH
| Q4 25 | $0.32 | $1.29 | ||
| Q3 25 | $0.88 | $1.25 | ||
| Q2 25 | $0.16 | $1.70 | ||
| Q1 25 | $-0.12 | — | ||
| Q4 24 | $0.40 | $1.73 | ||
| Q3 24 | $1.09 | $1.26 | ||
| Q2 24 | $0.17 | $1.79 | ||
| Q1 24 | $-0.08 | $1.69 |
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 | $1.2B | $134.7M |
| 总债务越低越好 | $2.3B | — |
| 股东权益账面价值 | $2.2B | $1.5B |
| 总资产 | $6.6B | $3.5B |
| 负债/权益比越低杠杆越低 | 1.04× | — |
8季度趋势，按日历期对齐
现金及短期投资MATTXRH
| Q4 25 | $1.2B | $134.7M | ||
| Q3 25 | $691.9M | $108.2M | ||
| Q2 25 | $870.5M | $221.1M | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.4B | $245.2M | ||
| Q3 24 | $723.5M | $189.2M | ||
| Q2 24 | $722.4M | $197.5M | ||
| Q1 24 | $1.1B | $213.4M |
总债务MATTXRH
| Q4 25 | $2.3B | — | ||
| Q3 25 | $2.3B | — | ||
| Q2 25 | $2.3B | — | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | $2.3B | — | ||
| Q3 24 | $2.3B | — | ||
| Q2 24 | $2.3B | — | ||
| Q1 24 | $2.3B | — |
股东权益MATTXRH
| Q4 25 | $2.2B | $1.5B | ||
| Q3 25 | $2.3B | $1.5B | ||
| Q2 25 | $2.2B | $1.4B | ||
| Q1 25 | $2.1B | — | ||
| Q4 24 | $2.3B | $1.4B | ||
| Q3 24 | $2.3B | $1.3B | ||
| Q2 24 | $2.0B | $1.3B | ||
| Q1 24 | $2.0B | $1.2B |
总资产MATTXRH
| Q4 25 | $6.6B | $3.5B | ||
| Q3 25 | $6.6B | $3.3B | ||
| Q2 25 | $6.2B | $3.2B | ||
| Q1 25 | $6.2B | — | ||
| Q4 24 | $6.5B | $3.2B | ||
| Q3 24 | $6.5B | $2.9B | ||
| Q2 24 | $5.9B | $2.9B | ||
| Q1 24 | $6.1B | $2.8B |
负债/权益比MATTXRH
| Q4 25 | 1.04× | — | ||
| Q3 25 | 1.03× | — | ||
| Q2 25 | 1.08× | — | ||
| Q1 25 | 1.10× | — | ||
| Q4 24 | 1.03× | — | ||
| Q3 24 | 1.01× | — | ||
| Q2 24 | 1.18× | — | ||
| Q1 24 | 1.15× | — |
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 | $796.6M | — |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 7.50× | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流MATTXRH
| Q4 25 | $796.6M | — | ||
| Q3 25 | $72.0M | $143.6M | ||
| Q2 25 | $-300.1M | $237.7M | ||
| Q1 25 | $24.8M | — | ||
| Q4 24 | $862.1M | $237.5M | ||
| Q3 24 | $155.8M | $138.7M | ||
| Q2 24 | $-252.9M | $133.9M | ||
| Q1 24 | $35.5M | $243.4M |
自由现金流MATTXRH
| Q4 25 | — | — | ||
| Q3 25 | — | $14.7M | ||
| Q2 25 | — | $160.4M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $129.7M | ||
| Q3 24 | — | $47.7M | ||
| Q2 24 | — | $56.1M | ||
| Q1 24 | — | $165.8M |
自由现金流率MATTXRH
| Q4 25 | — | — | ||
| Q3 25 | — | 1.0% | ||
| Q2 25 | — | 11.1% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 9.0% | ||
| Q3 24 | — | 3.7% | ||
| Q2 24 | — | 4.2% | ||
| Q1 24 | — | 12.5% |
资本支出强度MATTXRH
| Q4 25 | — | — | ||
| Q3 25 | — | 9.0% | ||
| Q2 25 | — | 5.3% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 7.5% | ||
| Q3 24 | — | 7.2% | ||
| Q2 24 | — | 5.8% | ||
| Q1 24 | — | 5.9% |
现金转化率MATTXRH
| Q4 25 | 7.50× | — | ||
| Q3 25 | 0.26× | 1.69× | ||
| Q2 25 | -5.62× | 2.05× | ||
| Q1 25 | — | — | ||
| Q4 24 | 6.12× | 2.00× | ||
| Q3 24 | 0.42× | 1.60× | ||
| Q2 24 | -4.45× | 1.09× | ||
| Q1 24 | — | 2.10× |
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
MAT
| North America Segment | $1.0B | 58% |
| International Segment | $745.6M | 42% |
TXRH
| Food And Beverage | $1.5B | 99% |
| Texas Roadhouse Segment | $21.2M | 1% |
| Franchise | $8.2M | 1% |
| Franchise Royalty | $7.4M | 0% |
| Bubba S33Segment | $2.3M | 0% |
