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POTLATCHDELTIC CORP（PCH）与棒约翰（PZZA）财务数据对比。点击上方公司名可切换其他公司
棒约翰的季度营收约是POTLATCHDELTIC CORP的1.6倍（$498.2M vs $314.2M），POTLATCHDELTIC CORP净利率更高（8.2% vs 1.4%，领先6.8%），POTLATCHDELTIC CORP同比增速更快（23.1% vs -6.1%），POTLATCHDELTIC CORP自由现金流更多（$50.1M vs $2.1M），过去两年POTLATCHDELTIC CORP的营收复合增速更高（11.1% vs -1.5%）
PotlatchDeltic是一家总部位于美国华盛顿州斯波坎的多元化林产品企业，业务覆盖林木培育、木材加工及相关林制品的生产与供应，在林业资源管理和产品研发领域拥有成熟的运营体系，为建筑、家居等多个下游行业提供优质原材料与产品解决方案。
棒约翰国际是源自美国的知名披萨餐饮连锁品牌，截至2023年，它是美国市场规模第四大披萨外送连锁餐饮集团，总部设于肯塔基州路易斯维尔与佐治亚州亚特兰大的都会区，在全球多地开设门店，主打披萨外卖业务。
PCH vs PZZA — 直观对比
营收规模更大
PZZA
是对方的1.6倍
$314.2M
营收增速更快
PCH
高出29.3%
-6.1%
净利率更高
PCH
高出6.8%
1.4%
自由现金流更多
PCH
多$48.0M
$2.1M
两年增速更快
PCH
近两年复合增速
-1.5%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $314.2M | $498.2M |
| 净利润 | $25.9M | $7.1M |
| 毛利率 | 18.2% | — |
| 营业利润率 | 11.2% | 4.9% |
| 净利率 | 8.2% | 1.4% |
| 营收同比 | 23.1% | -6.1% |
| 净利润同比 | 682.5% | -52.2% |
| 每股收益（稀释后） | $0.33 | $0.22 |
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PCHPZZA
| Q4 25 | — | $498.2M | ||
| Q3 25 | $314.2M | $508.2M | ||
| Q2 25 | $275.0M | $529.2M | ||
| Q1 25 | $268.3M | $518.3M | ||
| Q4 24 | $258.1M | $530.8M | ||
| Q3 24 | $255.1M | $506.8M | ||
| Q2 24 | $320.7M | $507.9M | ||
| Q1 24 | $228.1M | $513.9M |
净利润PCHPZZA
| Q4 25 | — | $7.1M | ||
| Q3 25 | $25.9M | $4.7M | ||
| Q2 25 | $7.4M | $9.5M | ||
| Q1 25 | $25.8M | $9.2M | ||
| Q4 24 | $5.2M | $14.8M | ||
| Q3 24 | $3.3M | $41.8M | ||
| Q2 24 | $13.7M | $12.2M | ||
| Q1 24 | $-305.0K | $14.6M |
毛利率PCHPZZA
| Q4 25 | — | — | ||
| Q3 25 | 18.2% | — | ||
| Q2 25 | 13.0% | — | ||
| Q1 25 | 17.8% | — | ||
| Q4 24 | 13.4% | — | ||
| Q3 24 | 10.8% | — | ||
| Q2 24 | 11.9% | — | ||
| Q1 24 | 7.0% | — |
营业利润率PCHPZZA
| Q4 25 | — | 4.9% | ||
| Q3 25 | 11.2% | 3.2% | ||
| Q2 25 | 5.0% | 4.6% | ||
| Q1 25 | 10.3% | 4.6% | ||
| Q4 24 | 5.2% | 5.6% | ||
| Q3 24 | 2.8% | 12.9% | ||
| Q2 24 | 5.4% | 5.6% | ||
| Q1 24 | -2.1% | 6.6% |
净利率PCHPZZA
| Q4 25 | — | 1.4% | ||
| Q3 25 | 8.2% | 0.9% | ||
| Q2 25 | 2.7% | 1.8% | ||
| Q1 25 | 9.6% | 1.8% | ||
| Q4 24 | 2.0% | 2.8% | ||
| Q3 24 | 1.3% | 8.2% | ||
| Q2 24 | 4.3% | 2.4% | ||
| Q1 24 | -0.1% | 2.8% |
每股收益（稀释后）PCHPZZA
| Q4 25 | — | $0.22 | ||
| Q3 25 | $0.33 | $0.13 | ||
| Q2 25 | $0.09 | $0.28 | ||
| Q1 25 | $0.33 | $0.27 | ||
| Q4 24 | $0.07 | $0.46 | ||
| Q3 24 | $0.04 | $1.27 | ||
| Q2 24 | $0.17 | $0.37 | ||
| Q1 24 | $0.00 | $0.44 |
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 | $88.8M | $34.6M |
| 总债务越低越好 | — | $722.3M |
| 股东权益账面价值 | $1.9B | $-444.8M |
| 总资产 | $3.2B | $837.5M |
| 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PCHPZZA
| Q4 25 | — | $34.6M | ||
| Q3 25 | $88.8M | $39.0M | ||
| Q2 25 | $95.3M | $33.3M | ||
| Q1 25 | $147.5M | $44.0M | ||
| Q4 24 | $151.6M | $38.0M | ||
| Q3 24 | $161.1M | $17.6M | ||
| Q2 24 | $199.7M | $24.3M | ||
| Q1 24 | $180.2M | $27.8M |
总债务PCHPZZA
| Q4 25 | — | $722.3M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.0B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益PCHPZZA
| Q4 25 | — | $-444.8M | ||
| Q3 25 | $1.9B | $-439.3M | ||
| Q2 25 | $1.9B | $-432.0M | ||
| Q1 25 | $2.0B | $-431.9M | ||
| Q4 24 | $2.0B | $-429.5M | ||
| Q3 24 | $2.1B | $-430.9M | ||
| Q2 24 | $2.1B | $-461.7M | ||
| Q1 24 | $2.2B | $-461.9M |
总资产PCHPZZA
| Q4 25 | — | $837.5M | ||
| Q3 25 | $3.2B | $884.1M | ||
| Q2 25 | $3.2B | $890.4M | ||
| Q1 25 | $3.3B | $898.1M | ||
| Q4 24 | $3.3B | $889.0M | ||
| Q3 24 | $3.3B | $860.9M | ||
| Q2 24 | $3.4B | $838.4M | ||
| Q1 24 | $3.4B | $847.2M |
负债/权益比PCHPZZA
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.51× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $65.7M | $19.8M |
| 自由现金流经营现金流 - 资本支出 | $50.1M | $2.1M |
| 自由现金流率自由现金流/营收 | 15.9% | 0.4% |
| 资本支出强度资本支出/营收 | 4.9% | 3.6% |
| 现金转化率经营现金流/净利润 | 2.54× | 2.80× |
| 过去12个月自由现金流最近4个季度 | $132.4M | $61.3M |
8季度趋势，按日历期对齐
经营现金流PCHPZZA
| Q4 25 | — | $19.8M | ||
| Q3 25 | $65.7M | $39.3M | ||
| Q2 25 | $41.0M | $35.5M | ||
| Q1 25 | $49.1M | $31.3M | ||
| Q4 24 | $45.4M | $50.7M | ||
| Q3 24 | $26.5M | $13.9M | ||
| Q2 24 | $100.6M | $30.0M | ||
| Q1 24 | $16.0M | $12.0M |
自由现金流PCHPZZA
| Q4 25 | — | $2.1M | ||
| Q3 25 | $50.1M | $22.7M | ||
| Q2 25 | $30.6M | $17.4M | ||
| Q1 25 | $26.3M | $19.1M | ||
| Q4 24 | $25.4M | $25.2M | ||
| Q3 24 | $-8.2M | $-3.8M | ||
| Q2 24 | $72.4M | $13.9M | ||
| Q1 24 | $2.0M | $-1.1M |
自由现金流率PCHPZZA
| Q4 25 | — | 0.4% | ||
| Q3 25 | 15.9% | 4.5% | ||
| Q2 25 | 11.1% | 3.3% | ||
| Q1 25 | 9.8% | 3.7% | ||
| Q4 24 | 9.9% | 4.7% | ||
| Q3 24 | -3.2% | -0.8% | ||
| Q2 24 | 22.6% | 2.7% | ||
| Q1 24 | 0.9% | -0.2% |
资本支出强度PCHPZZA
| Q4 25 | — | 3.6% | ||
| Q3 25 | 4.9% | 3.3% | ||
| Q2 25 | 3.8% | 3.4% | ||
| Q1 25 | 8.5% | 2.4% | ||
| Q4 24 | 7.7% | 4.8% | ||
| Q3 24 | 13.6% | 3.5% | ||
| Q2 24 | 8.8% | 3.2% | ||
| Q1 24 | 6.1% | 2.5% |
现金转化率PCHPZZA
| Q4 25 | — | 2.80× | ||
| Q3 25 | 2.54× | 8.36× | ||
| Q2 25 | 5.58× | 3.73× | ||
| Q1 25 | 1.90× | 3.40× | ||
| Q4 24 | 8.74× | 3.43× | ||
| Q3 24 | 7.99× | 0.33× | ||
| Q2 24 | 7.35× | 2.45× | ||
| Q1 24 | — | 0.82× |
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
PCH
| Lumber | $131.8M | 42% |
| Timberlands | $52.5M | 17% |
| Rural Real Estate | $51.3M | 16% |
| Residuals And Panels | $34.0M | 11% |
| Pulpwood | $16.7M | 5% |
| Development Real Estate | $14.6M | 5% |
| Other | $8.1M | 3% |
| Other Products | $5.2M | 2% |
PZZA
| Commissary | $236.8M | 48% |
| Company Owned Restaurant Sales | $154.4M | 31% |
| Franchisor | $47.5M | 10% |
| Advertising | $37.2M | 7% |
| Other | $22.2M | 4% |
