vs
Pinnacle West Capital（PNW）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
Texas Roadhouse, Inc.的季度营收约是Pinnacle West Capital的1.3倍（$1.5B vs $1.1B），Texas Roadhouse, Inc.净利率更高（5.8% vs 1.6%，领先4.3%），Texas Roadhouse, Inc.同比增速更快（3.1% vs 3.0%），过去两年Texas Roadhouse, Inc.的营收复合增速更高（12.8% vs 8.9%）
Pinnacle West Capital是美国公用事业控股企业，旗下拥有亚利桑那州规模最大的公用事业公司亚利桑那公共服务（APS）。公司于纽约证券交易所上市，是标普500指数成分股，运营受亚利桑那州公司委员会监管。
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。
PNW vs TXRH — 直观对比
营收规模更大
TXRH
是对方的1.3倍
$1.1B
营收增速更快
TXRH
高出0.1%
3.0%
净利率更高
TXRH
高出4.3%
1.6%
两年增速更快
TXRH
近两年复合增速
8.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.5B |
| 净利润 | $17.6M | $86.7M |
| 毛利率 | — | — |
| 营业利润率 | 10.7% | 6.5% |
| 净利率 | 1.6% | 5.8% |
| 营收同比 | 3.0% | 3.1% |
| 净利润同比 | 798.0% | -26.9% |
| 每股收益（稀释后） | $0.12 | $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PNWTXRH
| Q4 25 | $1.1B | $1.5B | ||
| Q3 25 | $1.8B | $1.4B | ||
| Q2 25 | $1.4B | $1.4B | ||
| Q1 25 | $1.0B | — | ||
| Q4 24 | $1.1B | $1.4B | ||
| Q3 24 | $1.8B | $1.3B | ||
| Q2 24 | $1.3B | $1.3B | ||
| Q1 24 | $951.7M | $1.3B |
净利润PNWTXRH
| Q4 25 | $17.6M | $86.7M | ||
| Q3 25 | $417.5M | $84.9M | ||
| Q2 25 | $196.9M | $116.1M | ||
| Q1 25 | $-338.0K | — | ||
| Q4 24 | $-2.5M | $118.5M | ||
| Q3 24 | $399.3M | $86.8M | ||
| Q2 24 | $208.1M | $123.1M | ||
| Q1 24 | $21.2M | $116.0M |
营业利润率PNWTXRH
| Q4 25 | 10.7% | 6.5% | ||
| Q3 25 | 32.0% | 6.7% | ||
| Q2 25 | 22.6% | 9.3% | ||
| Q1 25 | 5.5% | — | ||
| Q4 24 | 7.7% | 9.6% | ||
| Q3 24 | 30.9% | 8.0% | ||
| Q2 24 | 24.0% | 10.6% | ||
| Q1 24 | 7.0% | 10.1% |
净利率PNWTXRH
| Q4 25 | 1.6% | 5.8% | ||
| Q3 25 | 22.9% | 5.9% | ||
| Q2 25 | 14.5% | 8.0% | ||
| Q1 25 | -0.0% | — | ||
| Q4 24 | -0.2% | 8.2% | ||
| Q3 24 | 22.6% | 6.8% | ||
| Q2 24 | 15.9% | 9.2% | ||
| Q1 24 | 2.2% | 8.8% |
每股收益（稀释后）PNWTXRH
| Q4 25 | $0.12 | $1.29 | ||
| Q3 25 | $3.39 | $1.25 | ||
| Q2 25 | $1.58 | $1.70 | ||
| Q1 25 | $-0.04 | — | ||
| Q4 24 | $-0.04 | $1.73 | ||
| Q3 24 | $3.37 | $1.26 | ||
| Q2 24 | $1.76 | $1.79 | ||
| Q1 24 | $0.15 | $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 | $6.6M | $134.7M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $7.0B | $1.5B |
| 总资产 | $30.0B | $3.5B |
| 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PNWTXRH
| Q4 25 | $6.6M | $134.7M | ||
| Q3 25 | $30.9M | $108.2M | ||
| Q2 25 | $18.8M | $221.1M | ||
| Q1 25 | $10.0M | — | ||
| Q4 24 | $3.8M | $245.2M | ||
| Q3 24 | $49.2M | $189.2M | ||
| Q2 24 | $4.0M | $197.5M | ||
| Q1 24 | $9.6M | $213.4M |
股东权益PNWTXRH
| Q4 25 | $7.0B | $1.5B | ||
| Q3 25 | $7.2B | $1.5B | ||
| Q2 25 | $6.7B | $1.4B | ||
| Q1 25 | $6.7B | — | ||
| Q4 24 | $6.8B | $1.4B | ||
| Q3 24 | $6.6B | $1.3B | ||
| Q2 24 | $6.2B | $1.3B | ||
| Q1 24 | $6.2B | $1.2B |
总资产PNWTXRH
| Q4 25 | $30.0B | $3.5B | ||
| Q3 25 | $29.9B | $3.3B | ||
| Q2 25 | $29.2B | $3.2B | ||
| Q1 25 | $27.2B | — | ||
| Q4 24 | $26.1B | $3.2B | ||
| Q3 24 | $26.3B | $2.9B | ||
| Q2 24 | $25.7B | $2.9B | ||
| Q1 24 | $24.8B | $2.8B |
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 | $476.8M | — |
| 自由现金流经营现金流 - 资本支出 | $-192.7M | — |
| 自由现金流率自由现金流/营收 | -17.1% | — |
| 资本支出强度资本支出/营收 | 59.3% | — |
| 现金转化率经营现金流/净利润 | 27.09× | — |
| 过去12个月自由现金流最近4个季度 | $-819.5M | — |
8季度趋势，按日历期对齐
经营现金流PNWTXRH
| Q4 25 | $476.8M | — | ||
| Q3 25 | $665.0M | $143.6M | ||
| Q2 25 | $261.4M | $237.7M | ||
| Q1 25 | $401.9M | — | ||
| Q4 24 | $439.5M | $237.5M | ||
| Q3 24 | $633.2M | $138.7M | ||
| Q2 24 | $189.8M | $133.9M | ||
| Q1 24 | $347.4M | $243.4M |
自由现金流PNWTXRH
| Q4 25 | $-192.7M | — | ||
| Q3 25 | $42.0M | $14.7M | ||
| Q2 25 | $-448.1M | $160.4M | ||
| Q1 25 | $-220.7M | — | ||
| Q4 24 | $-92.1M | $129.7M | ||
| Q3 24 | $-32.7M | $47.7M | ||
| Q2 24 | $-344.2M | $56.1M | ||
| Q1 24 | $-170.4M | $165.8M |
自由现金流率PNWTXRH
| Q4 25 | -17.1% | — | ||
| Q3 25 | 2.3% | 1.0% | ||
| Q2 25 | -33.0% | 11.1% | ||
| Q1 25 | -21.4% | — | ||
| Q4 24 | -8.4% | 9.0% | ||
| Q3 24 | -1.8% | 3.7% | ||
| Q2 24 | -26.3% | 4.2% | ||
| Q1 24 | -17.9% | 12.5% |
资本支出强度PNWTXRH
| Q4 25 | 59.3% | — | ||
| Q3 25 | 34.2% | 9.0% | ||
| Q2 25 | 52.2% | 5.3% | ||
| Q1 25 | 60.3% | — | ||
| Q4 24 | 48.5% | 7.5% | ||
| Q3 24 | 37.6% | 7.2% | ||
| Q2 24 | 40.8% | 5.8% | ||
| Q1 24 | 54.4% | 5.9% |
现金转化率PNWTXRH
| Q4 25 | 27.09× | — | ||
| Q3 25 | 1.59× | 1.69× | ||
| Q2 25 | 1.33× | 2.05× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 2.00× | ||
| Q3 24 | 1.59× | 1.60× | ||
| Q2 24 | 0.91× | 1.09× | ||
| Q1 24 | 16.41× | 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
PNW
| Electricand Transmission Service | $1.1B | 100% |
| Other Services | $4.4M | 0% |
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% |
