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棒约翰（PZZA）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.的季度营收约是棒约翰的3.0倍（$1.5B vs $498.2M）。Texas Roadhouse, Inc.净利率更高（5.8% vs 1.4%，领先4.4%）。Texas Roadhouse, Inc.同比增速更快（3.1% vs -6.1%）。过去两年Texas Roadhouse, Inc.的营收复合增速更高（12.8% 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。
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。
PZZA vs TXRH — 直观对比
营收规模更大
TXRH
是对方的3.0倍
$498.2M
营收增速更快
TXRH
高出9.2%
-6.1%
净利率更高
TXRH
高出4.4%
1.4%
两年增速更快
TXRH
近两年复合增速
-1.5%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $498.2M | $1.5B |
| 净利润 | $7.1M | $86.7M |
| 毛利率 | — | — |
| 营业利润率 | 4.9% | 6.5% |
| 净利率 | 1.4% | 5.8% |
| 营收同比 | -6.1% | 3.1% |
| 净利润同比 | -52.2% | -26.9% |
| 每股收益（稀释后） | $0.22 | $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PZZATXRH
| Q4 25 | $498.2M | $1.5B | ||
| Q3 25 | $508.2M | $1.4B | ||
| Q2 25 | $529.2M | $1.4B | ||
| Q1 25 | $518.3M | — | ||
| Q4 24 | $530.8M | $1.4B | ||
| Q3 24 | $506.8M | $1.3B | ||
| Q2 24 | $507.9M | $1.3B | ||
| Q1 24 | $513.9M | $1.3B |
净利润PZZATXRH
| Q4 25 | $7.1M | $86.7M | ||
| Q3 25 | $4.7M | $84.9M | ||
| Q2 25 | $9.5M | $116.1M | ||
| Q1 25 | $9.2M | — | ||
| Q4 24 | $14.8M | $118.5M | ||
| Q3 24 | $41.8M | $86.8M | ||
| Q2 24 | $12.2M | $123.1M | ||
| Q1 24 | $14.6M | $116.0M |
营业利润率PZZATXRH
| Q4 25 | 4.9% | 6.5% | ||
| Q3 25 | 3.2% | 6.7% | ||
| Q2 25 | 4.6% | 9.3% | ||
| Q1 25 | 4.6% | — | ||
| Q4 24 | 5.6% | 9.6% | ||
| Q3 24 | 12.9% | 8.0% | ||
| Q2 24 | 5.6% | 10.6% | ||
| Q1 24 | 6.6% | 10.1% |
净利率PZZATXRH
| Q4 25 | 1.4% | 5.8% | ||
| Q3 25 | 0.9% | 5.9% | ||
| Q2 25 | 1.8% | 8.0% | ||
| Q1 25 | 1.8% | — | ||
| Q4 24 | 2.8% | 8.2% | ||
| Q3 24 | 8.2% | 6.8% | ||
| Q2 24 | 2.4% | 9.2% | ||
| Q1 24 | 2.8% | 8.8% |
每股收益（稀释后）PZZATXRH
| Q4 25 | $0.22 | $1.29 | ||
| Q3 25 | $0.13 | $1.25 | ||
| Q2 25 | $0.28 | $1.70 | ||
| Q1 25 | $0.27 | — | ||
| Q4 24 | $0.46 | $1.73 | ||
| Q3 24 | $1.27 | $1.26 | ||
| Q2 24 | $0.37 | $1.79 | ||
| Q1 24 | $0.44 | $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 | $34.6M | $134.7M |
| 总债务越低越好 | $722.3M | — |
| 股东权益账面价值 | $-444.8M | $1.5B |
| 总资产 | $837.5M | $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PZZATXRH
| Q4 25 | $34.6M | $134.7M | ||
| Q3 25 | $39.0M | $108.2M | ||
| Q2 25 | $33.3M | $221.1M | ||
| Q1 25 | $44.0M | — | ||
| Q4 24 | $38.0M | $245.2M | ||
| Q3 24 | $17.6M | $189.2M | ||
| Q2 24 | $24.3M | $197.5M | ||
| Q1 24 | $27.8M | $213.4M |
总债务PZZATXRH
| Q4 25 | $722.3M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益PZZATXRH
| Q4 25 | $-444.8M | $1.5B | ||
| Q3 25 | $-439.3M | $1.5B | ||
| Q2 25 | $-432.0M | $1.4B | ||
| Q1 25 | $-431.9M | — | ||
| Q4 24 | $-429.5M | $1.4B | ||
| Q3 24 | $-430.9M | $1.3B | ||
| Q2 24 | $-461.7M | $1.3B | ||
| Q1 24 | $-461.9M | $1.2B |
总资产PZZATXRH
| Q4 25 | $837.5M | $3.5B | ||
| Q3 25 | $884.1M | $3.3B | ||
| Q2 25 | $890.4M | $3.2B | ||
| Q1 25 | $898.1M | — | ||
| Q4 24 | $889.0M | $3.2B | ||
| Q3 24 | $860.9M | $2.9B | ||
| Q2 24 | $838.4M | $2.9B | ||
| Q1 24 | $847.2M | $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 | $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% | — |
| 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PZZATXRH
| Q4 25 | $19.8M | — | ||
| Q3 25 | $39.3M | $143.6M | ||
| Q2 25 | $35.5M | $237.7M | ||
| Q1 25 | $31.3M | — | ||
| Q4 24 | $50.7M | $237.5M | ||
| Q3 24 | $13.9M | $138.7M | ||
| Q2 24 | $30.0M | $133.9M | ||
| Q1 24 | $12.0M | $243.4M |
自由现金流PZZATXRH
| Q4 25 | $2.1M | — | ||
| Q3 25 | $22.7M | $14.7M | ||
| Q2 25 | $17.4M | $160.4M | ||
| Q1 25 | $19.1M | — | ||
| Q4 24 | $25.2M | $129.7M | ||
| Q3 24 | $-3.8M | $47.7M | ||
| Q2 24 | $13.9M | $56.1M | ||
| Q1 24 | $-1.1M | $165.8M |
自由现金流率PZZATXRH
| Q4 25 | 0.4% | — | ||
| Q3 25 | 4.5% | 1.0% | ||
| Q2 25 | 3.3% | 11.1% | ||
| Q1 25 | 3.7% | — | ||
| Q4 24 | 4.7% | 9.0% | ||
| Q3 24 | -0.8% | 3.7% | ||
| Q2 24 | 2.7% | 4.2% | ||
| Q1 24 | -0.2% | 12.5% |
资本支出强度PZZATXRH
| Q4 25 | 3.6% | — | ||
| Q3 25 | 3.3% | 9.0% | ||
| Q2 25 | 3.4% | 5.3% | ||
| Q1 25 | 2.4% | — | ||
| Q4 24 | 4.8% | 7.5% | ||
| Q3 24 | 3.5% | 7.2% | ||
| Q2 24 | 3.2% | 5.8% | ||
| Q1 24 | 2.5% | 5.9% |
现金转化率PZZATXRH
| Q4 25 | 2.80× | — | ||
| Q3 25 | 8.36× | 1.69× | ||
| Q2 25 | 3.73× | 2.05× | ||
| Q1 25 | 3.40× | — | ||
| Q4 24 | 3.43× | 2.00× | ||
| Q3 24 | 0.33× | 1.60× | ||
| Q2 24 | 2.45× | 1.09× | ||
| Q1 24 | 0.82× | 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
PZZA
| Commissary | $236.8M | 48% |
| Company Owned Restaurant Sales | $154.4M | 31% |
| Franchisor | $47.5M | 10% |
| Advertising | $37.2M | 7% |
| Other | $22.2M | 4% |
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% |
