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棒约翰（PZZA）与Ryman Hospitality Properties, Inc.（RHP）财务数据对比。点击上方公司名可切换其他公司
Ryman Hospitality Properties, Inc.的季度营收约是棒约翰的1.5倍（$737.8M vs $498.2M），Ryman Hospitality Properties, Inc.净利率更高（10.1% vs 1.4%，领先8.7%），Ryman Hospitality Properties, Inc.同比增速更快（13.9% vs -6.1%），Ryman Hospitality Properties, Inc.自由现金流更多（$58.5M vs $2.1M），过去两年Ryman Hospitality Properties, Inc.的营收复合增速更高（18.2% vs -1.5%）
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。
莱曼酒店地产是一家主营酒店、度假村、娱乐及媒体业务的企业，得名于旗下位于田纳西州纳什维尔的国家历史地标莱曼礼堂。公司历史可追溯至曾为俄克拉荷马出版公司子公司时期，1983年收购WSM公司后奠定现代业务基础，同时将知名演出IP大奥普里等核心资产纳入麾下。
PZZA vs RHP — 直观对比
营收规模更大
RHP
是对方的1.5倍
$498.2M
营收增速更快
RHP
高出20.1%
-6.1%
净利率更高
RHP
高出8.7%
1.4%
自由现金流更多
RHP
多$56.4M
$2.1M
两年增速更快
RHP
近两年复合增速
-1.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $498.2M | $737.8M |
| 净利润 | $7.1M | $74.5M |
| 毛利率 | — | 41.4% |
| 营业利润率 | 4.9% | 19.4% |
| 净利率 | 1.4% | 10.1% |
| 营收同比 | -6.1% | 13.9% |
| 净利润同比 | -52.2% | 3.0% |
| 每股收益（稀释后） | $0.22 | $1.12 |
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PZZARHP
| Q4 25 | $498.2M | $737.8M | ||
| Q3 25 | $508.2M | $592.5M | ||
| Q2 25 | $529.2M | $659.5M | ||
| Q1 25 | $518.3M | $587.3M | ||
| Q4 24 | $530.8M | $647.6M | ||
| Q3 24 | $506.8M | $550.0M | ||
| Q2 24 | $507.9M | $613.3M | ||
| Q1 24 | $513.9M | $528.3M |
净利润PZZARHP
| Q4 25 | $7.1M | $74.5M | ||
| Q3 25 | $4.7M | $34.9M | ||
| Q2 25 | $9.5M | $71.8M | ||
| Q1 25 | $9.2M | $63.0M | ||
| Q4 24 | $14.8M | $72.3M | ||
| Q3 24 | $41.8M | $59.0M | ||
| Q2 24 | $12.2M | $100.8M | ||
| Q1 24 | $14.6M | $42.8M |
毛利率PZZARHP
| Q4 25 | — | 41.4% | ||
| Q3 25 | — | 40.9% | ||
| Q2 25 | — | 49.7% | ||
| Q1 25 | — | 44.4% | ||
| Q4 24 | — | 40.4% | ||
| Q3 24 | — | 43.1% | ||
| Q2 24 | — | 48.4% | ||
| Q1 24 | — | 41.5% |
营业利润率PZZARHP
| Q4 25 | 4.9% | 19.4% | ||
| Q3 25 | 3.2% | 15.0% | ||
| Q2 25 | 4.6% | 21.1% | ||
| Q1 25 | 4.6% | 19.8% | ||
| Q4 24 | 5.6% | 18.6% | ||
| Q3 24 | 12.9% | 19.3% | ||
| Q2 24 | 5.6% | 27.4% | ||
| Q1 24 | 6.6% | 18.2% |
净利率PZZARHP
| Q4 25 | 1.4% | 10.1% | ||
| Q3 25 | 0.9% | 5.9% | ||
| Q2 25 | 1.8% | 10.9% | ||
| Q1 25 | 1.8% | 10.7% | ||
| Q4 24 | 2.8% | 11.2% | ||
| Q3 24 | 8.2% | 10.7% | ||
| Q2 24 | 2.4% | 16.4% | ||
| Q1 24 | 2.8% | 8.1% |
每股收益（稀释后）PZZARHP
| Q4 25 | $0.22 | $1.12 | ||
| Q3 25 | $0.13 | $0.53 | ||
| Q2 25 | $0.28 | $1.12 | ||
| Q1 25 | $0.27 | $1.00 | ||
| Q4 24 | $0.46 | $1.12 | ||
| Q3 24 | $1.27 | $0.94 | ||
| Q2 24 | $0.37 | $1.65 | ||
| Q1 24 | $0.44 | $0.67 |
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 | $34.6M | $471.4M |
| 总债务越低越好 | $722.3M | — |
| 股东权益账面价值 | $-444.8M | $750.2M |
| 总资产 | $837.5M | $6.2B |
| 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PZZARHP
| Q4 25 | $34.6M | $471.4M | ||
| Q3 25 | $39.0M | $483.3M | ||
| Q2 25 | $33.3M | $420.6M | ||
| Q1 25 | $44.0M | $413.9M | ||
| Q4 24 | $38.0M | $477.7M | ||
| Q3 24 | $17.6M | $534.9M | ||
| Q2 24 | $24.3M | $498.4M | ||
| Q1 24 | $27.8M | $465.3M |
总债务PZZARHP
| Q4 25 | $722.3M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益PZZARHP
| Q4 25 | $-444.8M | $750.2M | ||
| Q3 25 | $-439.3M | $758.5M | ||
| Q2 25 | $-432.0M | $800.4M | ||
| Q1 25 | $-431.9M | $531.5M | ||
| Q4 24 | $-429.5M | $549.0M | ||
| Q3 24 | $-430.9M | $551.9M | ||
| Q2 24 | $-461.7M | $562.6M | ||
| Q1 24 | $-461.9M | $529.9M |
总资产PZZARHP
| Q4 25 | $837.5M | $6.2B | ||
| Q3 25 | $884.1M | $6.2B | ||
| Q2 25 | $890.4M | $6.1B | ||
| Q1 25 | $898.1M | $5.2B | ||
| Q4 24 | $889.0M | $5.2B | ||
| Q3 24 | $860.9M | $5.2B | ||
| Q2 24 | $838.4M | $5.1B | ||
| Q1 24 | $847.2M | $5.1B |
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 | $19.8M | $164.7M |
| 自由现金流经营现金流 - 资本支出 | $2.1M | $58.5M |
| 自由现金流率自由现金流/营收 | 0.4% | 7.9% |
| 资本支出强度资本支出/营收 | 3.6% | 14.4% |
| 现金转化率经营现金流/净利润 | 2.80× | 2.21× |
| 过去12个月自由现金流最近4个季度 | $61.3M | $232.4M |
8季度趋势，按日历期对齐
经营现金流PZZARHP
| Q4 25 | $19.8M | $164.7M | ||
| Q3 25 | $39.3M | $205.2M | ||
| Q2 25 | $35.5M | $122.5M | ||
| Q1 25 | $31.3M | $98.2M | ||
| Q4 24 | $50.7M | $166.6M | ||
| Q3 24 | $13.9M | $218.1M | ||
| Q2 24 | $30.0M | $184.3M | ||
| Q1 24 | $12.0M | $7.5M |
自由现金流PZZARHP
| Q4 25 | $2.1M | $58.5M | ||
| Q3 25 | $22.7M | $135.4M | ||
| Q2 25 | $17.4M | $53.0M | ||
| Q1 25 | $19.1M | $-14.5M | ||
| Q4 24 | $25.2M | $76.0M | ||
| Q3 24 | $-3.8M | $85.7M | ||
| Q2 24 | $13.9M | $78.8M | ||
| Q1 24 | $-1.1M | $-72.0M |
自由现金流率PZZARHP
| Q4 25 | 0.4% | 7.9% | ||
| Q3 25 | 4.5% | 22.9% | ||
| Q2 25 | 3.3% | 8.0% | ||
| Q1 25 | 3.7% | -2.5% | ||
| Q4 24 | 4.7% | 11.7% | ||
| Q3 24 | -0.8% | 15.6% | ||
| Q2 24 | 2.7% | 12.9% | ||
| Q1 24 | -0.2% | -13.6% |
资本支出强度PZZARHP
| Q4 25 | 3.6% | 14.4% | ||
| Q3 25 | 3.3% | 11.8% | ||
| Q2 25 | 3.4% | 10.5% | ||
| Q1 25 | 2.4% | 19.2% | ||
| Q4 24 | 4.8% | 14.0% | ||
| Q3 24 | 3.5% | 24.1% | ||
| Q2 24 | 3.2% | 17.2% | ||
| Q1 24 | 2.5% | 15.0% |
现金转化率PZZARHP
| Q4 25 | 2.80× | 2.21× | ||
| Q3 25 | 8.36× | 5.88× | ||
| Q2 25 | 3.73× | 1.71× | ||
| Q1 25 | 3.40× | 1.56× | ||
| Q4 24 | 3.43× | 2.30× | ||
| Q3 24 | 0.33× | 3.70× | ||
| Q2 24 | 2.45× | 1.83× | ||
| Q1 24 | 0.82× | 0.17× |
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
PZZA
| Commissary | $236.8M | 48% |
| Company Owned Restaurant Sales | $154.4M | 31% |
| Franchisor | $47.5M | 10% |
| Advertising | $37.2M | 7% |
| Other | $22.2M | 4% |
RHP
| Hotel Other | $157.7M | 21% |
| Gaylord Opryland | $147.4M | 20% |
| Hotel Transient Rooms | $93.6M | 13% |
| Hotel Food And Beverage Outlets | $92.2M | 12% |
| Gaylord Palms | $88.2M | 12% |
| Jw Marriott Hill Country | $53.7M | 7% |
| Entertainment Admissions And Ticketing | $43.1M | 6% |
| Entertainment Food And Beverage | $38.1M | 5% |
| Entertainment Retail And Other | $28.3M | 4% |
| Ac Hotel | $2.4M | 0% |
