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Restaurant Brands International Inc.（QSR）与罗致恒富（RHI）财务数据对比。点击上方公司名可切换其他公司
Restaurant Brands International Inc.的季度营收约是罗致恒富的1.9倍（$2.5B vs $1.3B），Restaurant Brands International Inc.同比增速更快（7.4% vs -5.8%），Restaurant Brands International Inc.自由现金流更多（$453.0M vs $170.8M），过去两年Restaurant Brands International Inc.的营收复合增速更高（19.1% vs -6.1%）
Restaurant Brands International（简称RBI）是美加合资的跨国快餐控股企业，2014年由汉堡王与加拿大咖啡连锁品牌蒂姆·霍顿斯以125亿美元合并成立，后续先后收购Popeyes、Firehouse Subs两大品牌，现为全球第五大快餐运营商，规模仅次于赛百味、麦当劳、星巴克和百胜餐饮。
罗致恒富是1948年成立的国际人力资源咨询机构，总部位于加利福尼亚州门洛帕克和圣拉蒙，是全球规模领先的会计与金融领域人才派遣服务商之一，在全球范围内设有超过345个办公点。
QSR vs RHI — 直观对比
营收规模更大
QSR
是对方的1.9倍
$1.3B
营收增速更快
QSR
高出13.2%
-5.8%
自由现金流更多
QSR
多$282.2M
$170.8M
两年增速更快
QSR
近两年复合增速
-6.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.5B | $1.3B |
| 净利润 | $155.0M | — |
| 毛利率 | — | 37.6% |
| 营业利润率 | 25.2% | 1.7% |
| 净利率 | 6.3% | — |
| 营收同比 | 7.4% | -5.8% |
| 净利润同比 | -57.1% | — |
| 每股收益（稀释后） | $0.33 | $0.32 |
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QSRRHI
| Q4 25 | $2.5B | $1.3B | ||
| Q3 25 | $2.4B | $1.4B | ||
| Q2 25 | $2.4B | $1.4B | ||
| Q1 25 | $2.1B | $1.4B | ||
| Q4 24 | $2.3B | $1.4B | ||
| Q3 24 | $2.3B | $1.5B | ||
| Q2 24 | $2.1B | $1.5B | ||
| Q1 24 | $1.7B | $1.5B |
净利润QSRRHI
| Q4 25 | $155.0M | — | ||
| Q3 25 | $436.0M | $42.9M | ||
| Q2 25 | $263.0M | $41.0M | ||
| Q1 25 | $221.0M | $17.4M | ||
| Q4 24 | $361.0M | — | ||
| Q3 24 | $357.0M | $65.5M | ||
| Q2 24 | $399.0M | $68.2M | ||
| Q1 24 | $328.0M | $63.7M |
毛利率QSRRHI
| Q4 25 | — | 37.6% | ||
| Q3 25 | — | 37.2% | ||
| Q2 25 | — | 37.2% | ||
| Q1 25 | — | 36.9% | ||
| Q4 24 | — | 38.8% | ||
| Q3 24 | — | 39.0% | ||
| Q2 24 | — | 39.2% | ||
| Q1 24 | 65.2% | 38.1% |
营业利润率QSRRHI
| Q4 25 | 25.2% | 1.7% | ||
| Q3 25 | 27.1% | 1.0% | ||
| Q2 25 | 20.0% | 0.1% | ||
| Q1 25 | 20.6% | 2.9% | ||
| Q4 24 | 27.7% | 4.7% | ||
| Q3 24 | 25.2% | 4.1% | ||
| Q2 24 | 31.9% | 5.1% | ||
| Q1 24 | 31.3% | 2.8% |
净利率QSRRHI
| Q4 25 | 6.3% | — | ||
| Q3 25 | 17.8% | 3.2% | ||
| Q2 25 | 10.9% | 3.0% | ||
| Q1 25 | 10.5% | 1.3% | ||
| Q4 24 | 15.7% | — | ||
| Q3 24 | 15.6% | 4.5% | ||
| Q2 24 | 19.2% | 4.6% | ||
| Q1 24 | 18.9% | 4.3% |
每股收益（稀释后）QSRRHI
| Q4 25 | $0.33 | $0.32 | ||
| Q3 25 | $0.96 | $0.43 | ||
| Q2 25 | $0.57 | $0.41 | ||
| Q1 25 | $0.49 | $0.17 | ||
| Q4 24 | $0.79 | $0.53 | ||
| Q3 24 | $0.79 | $0.64 | ||
| Q2 24 | $0.88 | $0.66 | ||
| Q1 24 | $0.72 | $0.61 |
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 | — | $464.4M |
| 总债务越低越好 | $13.3B | — |
| 股东权益账面价值 | $3.6B | $1.3B |
| 总资产 | $25.6B | $2.9B |
| 负债/权益比越低杠杆越低 | 3.65× | — |
8季度趋势，按日历期对齐
现金及短期投资QSRRHI
| Q4 25 | — | $464.4M | ||
| Q3 25 | — | $365.3M | ||
| Q2 25 | — | $380.5M | ||
| Q1 25 | — | $342.5M | ||
| Q4 24 | — | $537.6M | ||
| Q3 24 | — | $570.5M | ||
| Q2 24 | — | $547.4M | ||
| Q1 24 | — | $540.9M |
总债务QSRRHI
| Q4 25 | $13.3B | — | ||
| Q3 25 | $13.5B | — | ||
| Q2 25 | $13.6B | — | ||
| Q1 25 | $13.6B | — | ||
| Q4 24 | $13.6B | — | ||
| Q3 24 | $13.7B | — | ||
| Q2 24 | $13.7B | — | ||
| Q1 24 | $12.9B | — |
股东权益QSRRHI
| Q4 25 | $3.6B | $1.3B | ||
| Q3 25 | $3.4B | $1.3B | ||
| Q2 25 | $3.3B | $1.3B | ||
| Q1 25 | $3.1B | $1.3B | ||
| Q4 24 | $3.1B | $1.4B | ||
| Q3 24 | $3.2B | $1.5B | ||
| Q2 24 | $3.1B | $1.5B | ||
| Q1 24 | $3.0B | $1.5B |
总资产QSRRHI
| Q4 25 | $25.6B | $2.9B | ||
| Q3 25 | $25.7B | $2.8B | ||
| Q2 25 | $25.7B | $2.8B | ||
| Q1 25 | $24.9B | $2.7B | ||
| Q4 24 | $24.6B | $2.9B | ||
| Q3 24 | $25.1B | $3.0B | ||
| Q2 24 | $24.8B | $2.9B | ||
| Q1 24 | $23.1B | $2.9B |
负债/权益比QSRRHI
| Q4 25 | 3.65× | — | ||
| Q3 25 | 3.99× | — | ||
| Q2 25 | 4.10× | — | ||
| Q1 25 | 4.37× | — | ||
| Q4 24 | 4.39× | — | ||
| Q3 24 | 4.22× | — | ||
| Q2 24 | 4.46× | — | ||
| Q1 24 | 4.35× | — |
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 | $555.0M | $182.5M |
| 自由现金流经营现金流 - 资本支出 | $453.0M | $170.8M |
| 自由现金流率自由现金流/营收 | 18.4% | 13.1% |
| 资本支出强度资本支出/营收 | 4.1% | 0.9% |
| 现金转化率经营现金流/净利润 | 3.58× | — |
| 过去12个月自由现金流最近4个季度 | $1.4B | $266.8M |
8季度趋势，按日历期对齐
经营现金流QSRRHI
| Q4 25 | $555.0M | $182.5M | ||
| Q3 25 | $592.0M | $77.4M | ||
| Q2 25 | $449.0M | $119.4M | ||
| Q1 25 | $118.0M | $-59.3M | ||
| Q4 24 | $481.0M | $154.8M | ||
| Q3 24 | $540.0M | $129.6M | ||
| Q2 24 | $334.0M | $142.0M | ||
| Q1 24 | $148.0M | $-15.9M |
自由现金流QSRRHI
| Q4 25 | $453.0M | $170.8M | ||
| Q3 25 | $531.0M | $63.6M | ||
| Q2 25 | $411.0M | $104.2M | ||
| Q1 25 | $54.0M | $-71.7M | ||
| Q4 24 | $404.0M | $140.5M | ||
| Q3 24 | $485.0M | $111.8M | ||
| Q2 24 | $291.0M | $129.6M | ||
| Q1 24 | $122.0M | $-27.7M |
自由现金流率QSRRHI
| Q4 25 | 18.4% | 13.1% | ||
| Q3 25 | 21.7% | 4.7% | ||
| Q2 25 | 17.1% | 7.6% | ||
| Q1 25 | 2.6% | -5.3% | ||
| Q4 24 | 17.6% | 10.2% | ||
| Q3 24 | 21.2% | 7.6% | ||
| Q2 24 | 14.0% | 8.8% | ||
| Q1 24 | 7.0% | -1.9% |
资本支出强度QSRRHI
| Q4 25 | 4.1% | 0.9% | ||
| Q3 25 | 2.5% | 1.0% | ||
| Q2 25 | 1.6% | 1.1% | ||
| Q1 25 | 3.0% | 0.9% | ||
| Q4 24 | 3.4% | 1.0% | ||
| Q3 24 | 2.4% | 1.2% | ||
| Q2 24 | 2.1% | 0.8% | ||
| Q1 24 | 1.5% | 0.8% |
现金转化率QSRRHI
| Q4 25 | 3.58× | — | ||
| Q3 25 | 1.36× | 1.80× | ||
| Q2 25 | 1.71× | 2.91× | ||
| Q1 25 | 0.53× | -3.42× | ||
| Q4 24 | 1.33× | — | ||
| Q3 24 | 1.51× | 1.98× | ||
| Q2 24 | 0.84× | 2.08× | ||
| Q1 24 | 0.45× | -0.25× |
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
QSR
| CA | $1.0B | 41% |
| Other | $330.0M | 13% |
| Advertising | $308.0M | 12% |
| Others | $284.0M | 12% |
| Popeyes Louisiana Kitchen | $195.0M | 8% |
| Burger King | $185.0M | 8% |
| Royalty | $87.0M | 4% |
| Firehouse Subs | $59.0M | 2% |
| Franchisor | $7.0M | 0% |
RHI
| Finance And Accounting | $535.2M | 41% |
| Protiviti | $479.0M | 37% |
| Technology | $156.4M | 12% |
| Permanent Placement Talent Solutions | $102.6M | 8% |
| Other | $29.2M | 2% |
