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RH（RH）与Toast, Inc.（TOST）财务数据对比。点击上方公司名可切换其他公司
Toast, Inc.的季度营收约是RH的1.8倍（$1.6B vs $883.8M），Toast, Inc.净利率更高（6.2% vs 4.1%，领先2.1%），Toast, Inc.同比增速更快（22.0% vs 8.9%），Toast, Inc.自由现金流更多（$178.0M vs $83.0M），过去两年Toast, Inc.的营收复合增速更高（23.3% vs 9.4%）
RH是美国高端家居品牌，总部位于加利福尼亚州科尔特马德拉。品牌通过线下零售门店、产品目录和线上渠道发售家居商品，截至2018年8月，在美国和加拿大共运营70家展示馆、18家全系列设计展示馆、3家婴童家居展示馆，另有36家奥莱门店。
Toast, Inc.是总部位于美国马萨诸塞州波士顿的云餐饮管理软件企业，主打基于安卓操作系统研发的一体化销售点（POS）系统，可为餐饮商家提供涵盖收银、订单管理等在内的全场景门店经营解决方案。
RH vs TOST — 直观对比
营收规模更大
TOST
是对方的1.8倍
$883.8M
营收增速更快
TOST
高出13.2%
8.9%
净利率更高
TOST
高出2.1%
4.1%
自由现金流更多
TOST
多$95.0M
$83.0M
两年增速更快
TOST
近两年复合增速
9.4%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $883.8M | $1.6B |
| 净利润 | $36.3M | $101.0M |
| 毛利率 | 44.1% | 25.9% |
| 营业利润率 | 12.0% | 5.2% |
| 净利率 | 4.1% | 6.2% |
| 营收同比 | 8.9% | 22.0% |
| 净利润同比 | 9.3% | 215.6% |
| 每股收益（稀释后） | $1.83 | $0.18 |
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RHTOST
| Q4 25 | $883.8M | $1.6B | ||
| Q3 25 | $899.2M | $1.6B | ||
| Q2 25 | $814.0M | $1.6B | ||
| Q1 25 | $812.4M | $1.3B | ||
| Q4 24 | $811.7M | $1.3B | ||
| Q3 24 | $829.7M | $1.3B | ||
| Q2 24 | $727.0M | $1.2B | ||
| Q1 24 | $738.3M | $1.1B |
净利润RHTOST
| Q4 25 | $36.3M | $101.0M | ||
| Q3 25 | $51.7M | $105.0M | ||
| Q2 25 | $8.0M | $80.0M | ||
| Q1 25 | $13.9M | $56.0M | ||
| Q4 24 | $33.2M | $32.0M | ||
| Q3 24 | $29.0M | $56.0M | ||
| Q2 24 | $-3.6M | $14.0M | ||
| Q1 24 | $11.4M | $-83.0M |
毛利率RHTOST
| Q4 25 | 44.1% | 25.9% | ||
| Q3 25 | 45.5% | 26.5% | ||
| Q2 25 | 43.7% | 25.3% | ||
| Q1 25 | 44.7% | 25.9% | ||
| Q4 24 | 44.5% | 24.9% | ||
| Q3 24 | 45.2% | 24.7% | ||
| Q2 24 | 43.5% | 23.0% | ||
| Q1 24 | 43.5% | 23.2% |
营业利润率RHTOST
| Q4 25 | 12.0% | 5.2% | ||
| Q3 25 | 14.3% | 5.1% | ||
| Q2 25 | 6.9% | 5.2% | ||
| Q1 25 | 8.7% | 3.2% | ||
| Q4 24 | 12.5% | 2.5% | ||
| Q3 24 | 11.6% | 2.6% | ||
| Q2 24 | 7.5% | 0.4% | ||
| Q1 24 | 8.7% | -5.2% |
净利率RHTOST
| Q4 25 | 4.1% | 6.2% | ||
| Q3 25 | 5.8% | 6.4% | ||
| Q2 25 | 1.0% | 5.2% | ||
| Q1 25 | 1.7% | 4.2% | ||
| Q4 24 | 4.1% | 2.4% | ||
| Q3 24 | 3.5% | 4.3% | ||
| Q2 24 | -0.5% | 1.1% | ||
| Q1 24 | 1.5% | -7.7% |
每股收益（稀释后）RHTOST
| Q4 25 | $1.83 | $0.18 | ||
| Q3 25 | $2.62 | $0.16 | ||
| Q2 25 | $0.40 | $0.13 | ||
| Q1 25 | $0.71 | $0.09 | ||
| Q4 24 | $1.66 | $0.09 | ||
| Q3 24 | $1.45 | $0.07 | ||
| Q2 24 | $-0.20 | $0.02 | ||
| Q1 24 | $0.91 | $-0.15 |
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 | $43.1M | $1.4B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $3.3M | $2.1B |
| 总资产 | $4.8B | $3.1B |
| 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RHTOST
| Q4 25 | $43.1M | $1.4B | ||
| Q3 25 | $34.6M | $1.4B | ||
| Q2 25 | $46.1M | $1.2B | ||
| Q1 25 | $30.4M | $1.0B | ||
| Q4 24 | $87.0M | $903.0M | ||
| Q3 24 | $78.3M | $761.0M | ||
| Q2 24 | $101.8M | $691.0M | ||
| Q1 24 | $123.7M | $578.0M |
股东权益RHTOST
| Q4 25 | $3.3M | $2.1B | ||
| Q3 25 | $-40.9M | $2.0B | ||
| Q2 25 | $-110.8M | $1.8B | ||
| Q1 25 | $-163.6M | $1.7B | ||
| Q4 24 | $-183.0M | $1.5B | ||
| Q3 24 | $-234.7M | $1.4B | ||
| Q2 24 | $-289.9M | $1.3B | ||
| Q1 24 | $-297.4M | $1.2B |
总资产RHTOST
| Q4 25 | $4.8B | $3.1B | ||
| Q3 25 | $4.7B | $3.0B | ||
| Q2 25 | $4.7B | $2.8B | ||
| Q1 25 | $4.6B | $2.6B | ||
| Q4 24 | $4.5B | $2.4B | ||
| Q3 24 | $4.4B | $2.2B | ||
| Q2 24 | $4.2B | $2.2B | ||
| Q1 24 | $4.1B | $2.1B |
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 | $131.9M | $194.0M |
| 自由现金流经营现金流 - 资本支出 | $83.0M | $178.0M |
| 自由现金流率自由现金流/营收 | 9.4% | 10.9% |
| 资本支出强度资本支出/营收 | 5.5% | 1.0% |
| 现金转化率经营现金流/净利润 | 3.64× | 1.92× |
| 过去12个月自由现金流最近4个季度 | $128.1M | $608.0M |
8季度趋势，按日历期对齐
经营现金流RHTOST
| Q4 25 | $131.9M | $194.0M | ||
| Q3 25 | $137.7M | $165.0M | ||
| Q2 25 | $86.6M | $223.0M | ||
| Q1 25 | $-18.8M | $79.0M | ||
| Q4 24 | $-31.4M | $147.0M | ||
| Q3 24 | $11.2M | $109.0M | ||
| Q2 24 | $56.1M | $124.0M | ||
| Q1 24 | $-114.0M | $-20.0M |
自由现金流RHTOST
| Q4 25 | $83.0M | $178.0M | ||
| Q3 25 | $80.7M | $153.0M | ||
| Q2 25 | $34.1M | $208.0M | ||
| Q1 25 | $-69.7M | $69.0M | ||
| Q4 24 | $-96.0M | $134.0M | ||
| Q3 24 | $-37.9M | $97.0M | ||
| Q2 24 | $-10.1M | $108.0M | ||
| Q1 24 | $-251.5M | $-33.0M |
自由现金流率RHTOST
| Q4 25 | 9.4% | 10.9% | ||
| Q3 25 | 9.0% | 9.4% | ||
| Q2 25 | 4.2% | 13.4% | ||
| Q1 25 | -8.6% | 5.2% | ||
| Q4 24 | -11.8% | 10.0% | ||
| Q3 24 | -4.6% | 7.4% | ||
| Q2 24 | -1.4% | 8.7% | ||
| Q1 24 | -34.1% | -3.1% |
资本支出强度RHTOST
| Q4 25 | 5.5% | 1.0% | ||
| Q3 25 | 6.3% | 0.7% | ||
| Q2 25 | 6.5% | 1.0% | ||
| Q1 25 | 6.3% | 0.7% | ||
| Q4 24 | 8.0% | 1.0% | ||
| Q3 24 | 5.9% | 0.9% | ||
| Q2 24 | 9.1% | 1.3% | ||
| Q1 24 | 18.6% | 1.2% |
现金转化率RHTOST
| Q4 25 | 3.64× | 1.92× | ||
| Q3 25 | 2.66× | 1.57× | ||
| Q2 25 | 10.78× | 2.79× | ||
| Q1 25 | -1.35× | 1.41× | ||
| Q4 24 | -0.95× | 4.59× | ||
| Q3 24 | 0.39× | 1.95× | ||
| Q2 24 | — | 8.86× | ||
| Q1 24 | -10.01× | — |
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
RH
| RH Segment | $835.8M | 95% |
| Waterworks Segment | $48.0M | 5% |
| Gift Card And Merchandise Credit | $4.5M | 1% |
TOST
| Technology Service | $1.3B | 82% |
| License | $256.0M | 16% |
| Product And Professional Services | $43.0M | 3% |
