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棒约翰（PZZA）与Sabre Corp（SABR）财务数据对比。点击上方公司名可切换其他公司
Sabre Corp的季度营收约是棒约翰的1.2倍（$592.0M vs $498.2M），棒约翰净利率更高（1.4% vs -17.5%，领先18.9%），Sabre Corp同比增速更快（2.9% vs -6.1%），过去两年棒约翰的营收复合增速更高（-1.5% vs -13.0%）
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。
Sabre Corporation是总部位于美国得克萨斯州南湖的旅游科技公司，也是全球最大的航空预订全球分销系统（GDS）服务商。其核心产品Sabre全球分销系统作为中立中介，连接航司、酒店等旅游供应商与旅行社等旅游销售方，提供实时库存与价格信息，是企业差旅管理领域的重要服务商。
PZZA vs SABR — 直观对比
营收规模更大
SABR
是对方的1.2倍
$498.2M
营收增速更快
SABR
高出9.0%
-6.1%
净利率更高
PZZA
高出18.9%
-17.5%
两年增速更快
PZZA
近两年复合增速
-13.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $498.2M | $592.0M |
| 净利润 | $7.1M | $-103.5M |
| 毛利率 | — | 55.4% |
| 营业利润率 | 4.9% | 1.6% |
| 净利率 | 1.4% | -17.5% |
| 营收同比 | -6.1% | 2.9% |
| 净利润同比 | -52.2% | -38.6% |
| 每股收益（稀释后） | $0.22 | $-0.08 |
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PZZASABR
| Q4 25 | $498.2M | $592.0M | ||
| Q3 25 | $508.2M | $715.2M | ||
| Q2 25 | $529.2M | $687.1M | ||
| Q1 25 | $518.3M | $776.6M | ||
| Q4 24 | $530.8M | $575.6M | ||
| Q3 24 | $506.8M | $691.3M | ||
| Q2 24 | $507.9M | $695.0M | ||
| Q1 24 | $513.9M | $782.9M |
净利润PZZASABR
| Q4 25 | $7.1M | $-103.5M | ||
| Q3 25 | $4.7M | $848.5M | ||
| Q2 25 | $9.5M | $-256.5M | ||
| Q1 25 | $9.2M | $35.5M | ||
| Q4 24 | $14.8M | $-74.7M | ||
| Q3 24 | $41.8M | $-62.8M | ||
| Q2 24 | $12.2M | $-69.8M | ||
| Q1 24 | $14.6M | $-71.5M |
毛利率PZZASABR
| Q4 25 | — | 55.4% | ||
| Q3 25 | — | 56.2% | ||
| Q2 25 | — | 56.9% | ||
| Q1 25 | — | 57.0% | ||
| Q4 24 | — | 58.8% | ||
| Q3 24 | — | 57.4% | ||
| Q2 24 | — | 57.8% | ||
| Q1 24 | — | 59.0% |
营业利润率PZZASABR
| Q4 25 | 4.9% | 1.6% | ||
| Q3 25 | 3.2% | 13.1% | ||
| Q2 25 | 4.6% | 13.0% | ||
| Q1 25 | 4.6% | 13.3% | ||
| Q4 24 | 5.6% | 6.5% | ||
| Q3 24 | 12.9% | 8.4% | ||
| Q2 24 | 5.6% | 7.0% | ||
| Q1 24 | 6.6% | 12.5% |
净利率PZZASABR
| Q4 25 | 1.4% | -17.5% | ||
| Q3 25 | 0.9% | 118.6% | ||
| Q2 25 | 1.8% | -37.3% | ||
| Q1 25 | 1.8% | 4.6% | ||
| Q4 24 | 2.8% | -13.0% | ||
| Q3 24 | 8.2% | -9.1% | ||
| Q2 24 | 2.4% | -10.0% | ||
| Q1 24 | 2.8% | -9.1% |
每股收益（稀释后）PZZASABR
| Q4 25 | $0.22 | $-0.08 | ||
| Q3 25 | $0.13 | $1.98 | ||
| Q2 25 | $0.28 | $-0.65 | ||
| Q1 25 | $0.27 | $0.09 | ||
| Q4 24 | $0.46 | $-0.20 | ||
| Q3 24 | $1.27 | $-0.16 | ||
| Q2 24 | $0.37 | $-0.18 | ||
| Q1 24 | $0.44 | $-0.19 |
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 | $791.6M |
| 总债务越低越好 | $722.3M | $4.3B |
| 股东权益账面价值 | $-444.8M | $-1.0B |
| 总资产 | $837.5M | $4.5B |
| 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PZZASABR
| Q4 25 | $34.6M | $791.6M | ||
| Q3 25 | $39.0M | $661.7M | ||
| Q2 25 | $33.3M | $426.1M | ||
| Q1 25 | $44.0M | $651.1M | ||
| Q4 24 | $38.0M | $724.5M | ||
| Q3 24 | $17.6M | $668.8M | ||
| Q2 24 | $24.3M | $612.6M | ||
| Q1 24 | $27.8M | $629.1M |
总债务PZZASABR
| Q4 25 | $722.3M | $4.3B | ||
| Q3 25 | — | $4.2B | ||
| Q2 25 | — | $5.1B | ||
| Q1 25 | — | $5.0B | ||
| Q4 24 | — | $5.0B | ||
| Q3 24 | — | $4.9B | ||
| Q2 24 | — | $4.9B | ||
| Q1 24 | — | $5.1B |
股东权益PZZASABR
| Q4 25 | $-444.8M | $-1.0B | ||
| Q3 25 | $-439.3M | $-950.8M | ||
| Q2 25 | $-432.0M | $-1.8B | ||
| Q1 25 | $-431.9M | $-1.6B | ||
| Q4 24 | $-429.5M | $-1.6B | ||
| Q3 24 | $-430.9M | $-1.5B | ||
| Q2 24 | $-461.7M | $-1.5B | ||
| Q1 24 | $-461.9M | $-1.4B |
总资产PZZASABR
| Q4 25 | $837.5M | $4.5B | ||
| Q3 25 | $884.1M | $4.4B | ||
| Q2 25 | $890.4M | $4.4B | ||
| Q1 25 | $898.1M | $4.7B | ||
| Q4 24 | $889.0M | $4.6B | ||
| Q3 24 | $860.9M | $4.7B | ||
| Q2 24 | $838.4M | $4.7B | ||
| Q1 24 | $847.2M | $4.7B |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $2.1M | — |
| 自由现金流率自由现金流/营收 | 0.4% | — |
| 资本支出强度资本支出/营收 | 3.6% | 4.0% |
| 现金转化率经营现金流/净利润 | 2.80× | — |
| 过去12个月自由现金流最近4个季度 | $61.3M | — |
8季度趋势，按日历期对齐
经营现金流PZZASABR
| Q4 25 | $19.8M | — | ||
| Q3 25 | $39.3M | $33.7M | ||
| Q2 25 | $35.5M | — | ||
| Q1 25 | $31.3M | $-80.6M | ||
| Q4 24 | $50.7M | $75.7M | ||
| Q3 24 | $13.9M | $24.4M | ||
| Q2 24 | $30.0M | $38.2M | ||
| Q1 24 | $12.0M | $-68.1M |
自由现金流PZZASABR
| Q4 25 | $2.1M | — | ||
| Q3 25 | $22.7M | $13.4M | ||
| Q2 25 | $17.4M | — | ||
| Q1 25 | $19.1M | $-98.5M | ||
| Q4 24 | $25.2M | $61.0M | ||
| Q3 24 | $-3.8M | $5.1M | ||
| Q2 24 | $13.9M | $20.4M | ||
| Q1 24 | $-1.1M | $-95.8M |
自由现金流率PZZASABR
| Q4 25 | 0.4% | — | ||
| Q3 25 | 4.5% | 1.9% | ||
| Q2 25 | 3.3% | — | ||
| Q1 25 | 3.7% | -12.7% | ||
| Q4 24 | 4.7% | 10.6% | ||
| Q3 24 | -0.8% | 0.7% | ||
| Q2 24 | 2.7% | 2.9% | ||
| Q1 24 | -0.2% | -12.2% |
资本支出强度PZZASABR
| Q4 25 | 3.6% | 4.0% | ||
| Q3 25 | 3.3% | 2.8% | ||
| Q2 25 | 3.4% | 3.1% | ||
| Q1 25 | 2.4% | 2.3% | ||
| Q4 24 | 4.8% | 2.6% | ||
| Q3 24 | 3.5% | 2.8% | ||
| Q2 24 | 3.2% | 2.6% | ||
| Q1 24 | 2.5% | 3.5% |
现金转化率PZZASABR
| Q4 25 | 2.80× | — | ||
| Q3 25 | 8.36× | 0.04× | ||
| Q2 25 | 3.73× | — | ||
| Q1 25 | 3.40× | -2.27× | ||
| Q4 24 | 3.43× | — | ||
| Q3 24 | 0.33× | — | ||
| Q2 24 | 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
PZZA
| Commissary | $236.8M | 48% |
| Company Owned Restaurant Sales | $154.4M | 31% |
| Franchisor | $47.5M | 10% |
| Advertising | $37.2M | 7% |
| Other | $22.2M | 4% |
SABR
| Distribution | $526.8M | 89% |
| Other | $65.2M | 11% |
