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Restaurant Brands International Inc.（QSR）与SEABOARD CORP（SEB）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SEABOARD CORP的1.0倍（$2.5B vs $2.4B），SEABOARD CORP净利率更高（10.6% vs 6.3%，领先4.3%），Restaurant Brands International Inc.同比增速更快（7.4% vs -2.9%），Restaurant Brands International Inc.自由现金流更多（$453.0M vs $53.0M），过去两年Restaurant Brands International Inc.的营收复合增速更高（19.1% vs 4.9%）
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。
Seaboard Corporation是一家多元化跨国农业综合及运输集团，业务覆盖多个垂直整合领域。美国本土核心业务包括生猪养殖加工与远洋运输，海外板块主营大宗商品贸易、谷物加工、食糖生产及发电，总部位于堪萨斯州梅里亚姆。
QSR vs SEB — 直观对比
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.5B | $2.4B |
| 净利润 | $155.0M | $255.0M |
| 毛利率 | — | 7.9% |
| 营业利润率 | 25.2% | 2.7% |
| 净利率 | 6.3% | 10.6% |
| 营收同比 | 7.4% | -2.9% |
| 净利润同比 | -57.1% | 63.5% |
| 每股收益（稀释后） | $0.33 | $262.58 |
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
| Q4 25 | $2.5B | $2.4B | ||
| Q3 25 | $2.4B | $2.5B | ||
| Q2 25 | $2.4B | $2.5B | ||
| Q1 25 | $2.1B | $2.3B | ||
| Q4 24 | $2.3B | $2.5B | ||
| Q3 24 | $2.3B | $2.2B | ||
| Q2 24 | $2.1B | $2.2B | ||
| Q1 24 | $1.7B | $2.2B |
| Q4 25 | $155.0M | $255.0M | ||
| Q3 25 | $436.0M | $110.0M | ||
| Q2 25 | $263.0M | $104.0M | ||
| Q1 25 | $221.0M | $32.0M | ||
| Q4 24 | $361.0M | $156.0M | ||
| Q3 24 | $357.0M | $-149.0M | ||
| Q2 24 | $399.0M | $61.0M | ||
| Q1 24 | $328.0M | $22.0M |
| Q4 25 | — | 7.9% | ||
| Q3 25 | — | 7.8% | ||
| Q2 25 | — | 6.5% | ||
| Q1 25 | — | 6.1% | ||
| Q4 24 | — | 9.0% | ||
| Q3 24 | — | 6.2% | ||
| Q2 24 | — | 5.8% | ||
| Q1 24 | 65.2% | 4.0% |
| Q4 25 | 25.2% | 2.7% | ||
| Q3 25 | 27.1% | 3.3% | ||
| Q2 25 | 20.0% | 2.1% | ||
| Q1 25 | 20.6% | 1.6% | ||
| Q4 24 | 27.7% | 4.6% | ||
| Q3 24 | 25.2% | 1.4% | ||
| Q2 24 | 31.9% | 1.4% | ||
| Q1 24 | 31.3% | -0.9% |
| Q4 25 | 6.3% | 10.6% | ||
| Q3 25 | 17.8% | 4.3% | ||
| Q2 25 | 10.9% | 4.2% | ||
| Q1 25 | 10.5% | 1.4% | ||
| Q4 24 | 15.7% | 6.3% | ||
| Q3 24 | 15.6% | -6.7% | ||
| Q2 24 | 19.2% | 2.8% | ||
| Q1 24 | 18.9% | 1.0% |
| Q4 25 | $0.33 | $262.58 | ||
| Q3 25 | $0.96 | $113.71 | ||
| Q2 25 | $0.57 | $105.22 | ||
| Q1 25 | $0.49 | $32.95 | ||
| Q4 24 | $0.79 | $158.58 | ||
| Q3 24 | $0.79 | $-153.44 | ||
| Q2 24 | $0.88 | $62.82 | ||
| Q1 24 | $0.72 | $22.66 |
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 | — | $1.2B |
| 总债务越低越好 | $13.3B | — |
| 股东权益账面价值 | $3.6B | $5.2B |
| 总资产 | $25.6B | $8.2B |
| 负债/权益比越低杠杆越低 | 3.65× | — |
8季度趋势，按日历期对齐
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $1.2B |
| 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 | — |
| Q4 25 | $3.6B | $5.2B | ||
| Q3 25 | $3.4B | $5.0B | ||
| Q2 25 | $3.3B | $4.8B | ||
| Q1 25 | $3.1B | $4.7B | ||
| Q4 24 | $3.1B | $4.7B | ||
| Q3 24 | $3.2B | $4.5B | ||
| Q2 24 | $3.1B | $4.7B | ||
| Q1 24 | $3.0B | $4.6B |
| Q4 25 | $25.6B | $8.2B | ||
| Q3 25 | $25.7B | $8.0B | ||
| Q2 25 | $25.7B | $7.9B | ||
| Q1 25 | $24.9B | $7.6B | ||
| Q4 24 | $24.6B | $7.7B | ||
| Q3 24 | $25.1B | $7.5B | ||
| Q2 24 | $24.8B | $7.7B | ||
| Q1 24 | $23.1B | $7.6B |
| 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 | $188.0M |
| 自由现金流经营现金流 - 资本支出 | $453.0M | $53.0M |
| 自由现金流率自由现金流/营收 | 18.4% | 2.2% |
| 资本支出强度资本支出/营收 | 4.1% | 5.6% |
| 现金转化率经营现金流/净利润 | 3.58× | 0.74× |
| 过去12个月自由现金流最近4个季度 | $1.4B | $6.0M |
8季度趋势，按日历期对齐
| Q4 25 | $555.0M | $188.0M | ||
| Q3 25 | $592.0M | $319.0M | ||
| Q2 25 | $449.0M | $81.0M | ||
| Q1 25 | $118.0M | $-20.0M | ||
| Q4 24 | $481.0M | $300.0M | ||
| Q3 24 | $540.0M | $194.0M | ||
| Q2 24 | $334.0M | $6.0M | ||
| Q1 24 | $148.0M | $19.0M |
| Q4 25 | $453.0M | $53.0M | ||
| Q3 25 | $531.0M | $152.0M | ||
| Q2 25 | $411.0M | $-70.0M | ||
| Q1 25 | $54.0M | $-129.0M | ||
| Q4 24 | $404.0M | $162.0M | ||
| Q3 24 | $485.0M | $58.0M | ||
| Q2 24 | $291.0M | $-127.0M | ||
| Q1 24 | $122.0M | $-85.0M |
| Q4 25 | 18.4% | 2.2% | ||
| Q3 25 | 21.7% | 6.0% | ||
| Q2 25 | 17.1% | -2.8% | ||
| Q1 25 | 2.6% | -5.6% | ||
| Q4 24 | 17.6% | 6.5% | ||
| Q3 24 | 21.2% | 2.6% | ||
| Q2 24 | 14.0% | -5.7% | ||
| Q1 24 | 7.0% | -3.9% |
| Q4 25 | 4.1% | 5.6% | ||
| Q3 25 | 2.5% | 6.6% | ||
| Q2 25 | 1.6% | 6.1% | ||
| Q1 25 | 3.0% | 4.7% | ||
| Q4 24 | 3.4% | 5.6% | ||
| Q3 24 | 2.4% | 6.1% | ||
| Q2 24 | 2.1% | 6.0% | ||
| Q1 24 | 1.5% | 4.7% |
| Q4 25 | 3.58× | 0.74× | ||
| Q3 25 | 1.36× | 2.90× | ||
| Q2 25 | 1.71× | 0.78× | ||
| Q1 25 | 0.53× | -0.63× | ||
| Q4 24 | 1.33× | 1.92× | ||
| Q3 24 | 1.51× | — | ||
| Q2 24 | 0.84× | 0.10× | ||
| Q1 24 | 0.45× | 0.86× |
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% |
SEB
| Commodity Trading And Milling | $1.3B | 52% |
| Pork Segment | $469.0M | 19% |
| Marine | $444.0M | 18% |
| Other | $108.0M | 4% |
| Energy Service | $56.0M | 2% |
| Product And Service Other Services | $15.0M | 1% |
| Transportation | $6.0M | 0% |
