vs
美泰（MAT）与百胜中国（YUMC）财务数据对比。点击上方公司名可切换其他公司
百胜中国的季度营收约是美泰的1.6倍（$2.8B vs $1.8B），美泰净利率更高（6.0% vs 5.0%，领先1.1%），百胜中国同比增速更快（8.8% vs 7.3%），过去两年美泰的营收复合增速更高（47.7% vs -2.3%）
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。
百胜中国是总部位于上海的世界500强快餐企业，2016年从百胜餐饮集团分拆独立上市，获百胜餐饮集团商标授权，按全系统销售额的3%支付授权费。目前在国内1100多座城市运营超8400家餐厅，全球门店总数超10600家，年营收达95亿美元，是全球规模最大的餐饮企业之一。
MAT vs YUMC — 直观对比
营收规模更大
YUMC
是对方的1.6倍
$1.8B
营收增速更快
YUMC
高出1.5%
7.3%
净利率更高
MAT
高出1.1%
5.0%
两年增速更快
MAT
近两年复合增速
-2.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $2.8B |
| 净利润 | $106.2M | $140.0M |
| 毛利率 | 45.9% | — |
| 营业利润率 | 8.0% | 6.6% |
| 净利率 | 6.0% | 5.0% |
| 营收同比 | 7.3% | 8.8% |
| 净利润同比 | -24.6% | 21.7% |
| 每股收益（稀释后） | $0.32 | $0.40 |
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MATYUMC
| Q4 25 | $1.8B | $2.8B | ||
| Q3 25 | $1.7B | $3.2B | ||
| Q2 25 | $1.0B | $2.8B | ||
| Q1 25 | $826.6M | $3.0B | ||
| Q4 24 | $1.6B | $2.6B | ||
| Q3 24 | $1.8B | $3.1B | ||
| Q2 24 | $1.1B | $2.7B | ||
| Q1 24 | $809.5M | $3.0B |
净利润MATYUMC
| Q4 25 | $106.2M | $140.0M | ||
| Q3 25 | $278.4M | $282.0M | ||
| Q2 25 | $53.4M | $215.0M | ||
| Q1 25 | $-40.3M | $292.0M | ||
| Q4 24 | $140.9M | $115.0M | ||
| Q3 24 | $372.4M | $297.0M | ||
| Q2 24 | $56.9M | $212.0M | ||
| Q1 24 | $-28.3M | $287.0M |
毛利率MATYUMC
| 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MATYUMC
| Q4 25 | 8.0% | 6.6% | ||
| Q3 25 | 21.9% | 12.5% | ||
| Q2 25 | 7.7% | 10.9% | ||
| Q1 25 | -6.4% | 13.4% | ||
| Q4 24 | 9.6% | 5.8% | ||
| Q3 24 | 26.5% | 12.1% | ||
| Q2 24 | 7.7% | 9.9% | ||
| Q1 24 | -4.4% | 12.6% |
净利率MATYUMC
| Q4 25 | 6.0% | 5.0% | ||
| Q3 25 | 16.0% | 8.8% | ||
| Q2 25 | 5.2% | 7.7% | ||
| Q1 25 | -4.9% | 9.8% | ||
| Q4 24 | 8.6% | 4.4% | ||
| Q3 24 | 20.2% | 9.7% | ||
| Q2 24 | 5.3% | 7.9% | ||
| Q1 24 | -3.5% | 9.7% |
每股收益（稀释后）MATYUMC
| Q4 25 | $0.32 | $0.40 | ||
| Q3 25 | $0.88 | $0.76 | ||
| Q2 25 | $0.16 | $0.58 | ||
| Q1 25 | $-0.12 | $0.77 | ||
| Q4 24 | $0.40 | $0.30 | ||
| Q3 24 | $1.09 | $0.77 | ||
| Q2 24 | $0.17 | $0.55 | ||
| Q1 24 | $-0.08 | $0.71 |
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 | $1.4B |
| 总债务越低越好 | $2.3B | — |
| 股东权益账面价值 | $2.2B | $5.4B |
| 总资产 | $6.6B | $10.8B |
| 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MATYUMC
| Q4 25 | $1.2B | $1.4B | ||
| Q3 25 | $691.9M | $2.1B | ||
| Q2 25 | $870.5M | $2.2B | ||
| Q1 25 | $1.2B | $2.0B | ||
| Q4 24 | $1.4B | $1.8B | ||
| Q3 24 | $723.5M | $2.5B | ||
| Q2 24 | $722.4M | $2.5B | ||
| Q1 24 | $1.1B | $2.4B |
总债务MATYUMC
| 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MATYUMC
| Q4 25 | $2.2B | $5.4B | ||
| Q3 25 | $2.3B | $5.7B | ||
| Q2 25 | $2.2B | $5.8B | ||
| Q1 25 | $2.1B | $5.8B | ||
| Q4 24 | $2.3B | $5.7B | ||
| Q3 24 | $2.3B | $6.0B | ||
| Q2 24 | $2.0B | $5.8B | ||
| Q1 24 | $2.0B | $5.9B |
总资产MATYUMC
| Q4 25 | $6.6B | $10.8B | ||
| Q3 25 | $6.6B | $11.0B | ||
| Q2 25 | $6.2B | $11.0B | ||
| Q1 25 | $6.2B | $11.0B | ||
| Q4 24 | $6.5B | $11.1B | ||
| Q3 24 | $6.5B | $11.8B | ||
| Q2 24 | $5.9B | $11.6B | ||
| Q1 24 | $6.1B | $11.3B |
负债/权益比MATYUMC
| 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 | $125.0M |
| 自由现金流经营现金流 - 资本支出 | — | $-116.0M |
| 自由现金流率自由现金流/营收 | — | -4.1% |
| 资本支出强度资本支出/营收 | — | 8.5% |
| 现金转化率经营现金流/净利润 | 7.50× | 0.89× |
| 过去12个月自由现金流最近4个季度 | — | $840.0M |
8季度趋势，按日历期对齐
经营现金流MATYUMC
| Q4 25 | $796.6M | $125.0M | ||
| Q3 25 | $72.0M | $477.0M | ||
| Q2 25 | $-300.1M | $412.0M | ||
| Q1 25 | $24.8M | $452.0M | ||
| Q4 24 | $862.1M | $167.0M | ||
| Q3 24 | $155.8M | $409.0M | ||
| Q2 24 | $-252.9M | $401.0M | ||
| Q1 24 | $35.5M | $442.0M |
自由现金流MATYUMC
| Q4 25 | — | $-116.0M | ||
| Q3 25 | — | $351.0M | ||
| Q2 25 | — | $290.0M | ||
| Q1 25 | — | $315.0M | ||
| Q4 24 | — | $-15.0M | ||
| Q3 24 | — | $244.0M | ||
| Q2 24 | — | $232.0M | ||
| Q1 24 | — | $253.0M |
自由现金流率MATYUMC
| Q4 25 | — | -4.1% | ||
| Q3 25 | — | 10.9% | ||
| Q2 25 | — | 10.4% | ||
| Q1 25 | — | 10.6% | ||
| Q4 24 | — | -0.6% | ||
| Q3 24 | — | 7.9% | ||
| Q2 24 | — | 8.7% | ||
| Q1 24 | — | 8.6% |
资本支出强度MATYUMC
| Q4 25 | — | 8.5% | ||
| Q3 25 | — | 3.9% | ||
| Q2 25 | — | 4.4% | ||
| Q1 25 | — | 4.6% | ||
| Q4 24 | — | 7.0% | ||
| Q3 24 | — | 5.4% | ||
| Q2 24 | — | 6.3% | ||
| Q1 24 | — | 6.4% |
现金转化率MATYUMC
| Q4 25 | 7.50× | 0.89× | ||
| Q3 25 | 0.26× | 1.69× | ||
| Q2 25 | -5.62× | 1.92× | ||
| Q1 25 | — | 1.55× | ||
| Q4 24 | 6.12× | 1.45× | ||
| Q3 24 | 0.42× | 1.38× | ||
| Q2 24 | -4.45× | 1.89× | ||
| Q1 24 | — | 1.54× |
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% |
YUMC
| Revenue From External Customers | $2.1B | 75% |
| Pizza Hut | $540.0M | 19% |
| Corporate And Unallocated | $105.0M | 4% |
| Other Revenue | $45.0M | 2% |
| Franchise Fees And Income | $25.0M | 1% |
