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泰佩思琦（TPR）与百胜餐饮集团（YUM）财务数据对比。点击上方公司名可切换其他公司
百胜餐饮集团的季度营收约是泰佩思琦的1.0倍（$2.5B vs $2.5B），泰佩思琦净利率更高（22.4% vs 21.3%，领先1.2%），泰佩思琦同比增速更快（14.0% vs 6.5%），泰佩思琦自由现金流更多（$1.0B vs $482.0M），过去两年泰佩思琦的营收复合增速更高（29.9% vs 25.5%）
Tapestry, Inc.是美国知名跨国奢侈品时尚控股企业，旗下拥有Coach、Kate Spade New York、Stuart Weitzman三大标志性生活方式品牌，主营高端手袋、服饰、鞋履、配饰及香水产品，销售渠道覆盖全球线下门店与线上电商平台。
百胜餐饮集团是美国跨国快餐企业，前身为百事可乐1977年收购肯德基、必胜客、塔可贝尔后成立的子公司，1997年从百事可乐分拆独立。目前集团运营肯德基、必胜客、塔可贝尔、哈比特汉堡等知名餐饮品牌，同时持有多家科技公司为业务发展提供支持。
TPR vs YUM — 直观对比
营收规模更大
YUM
是对方的1.0倍
$2.5B
营收增速更快
TPR
高出7.5%
6.5%
净利率更高
TPR
高出1.2%
21.3%
自由现金流更多
TPR
多$555.5M
$482.0M
两年增速更快
TPR
近两年复合增速
25.5%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.5B | $2.5B |
| 净利润 | $561.3M | $535.0M |
| 毛利率 | 75.5% | 67.6% |
| 营业利润率 | 28.6% | 29.3% |
| 净利率 | 22.4% | 21.3% |
| 营收同比 | 14.0% | 6.5% |
| 净利润同比 | 80.8% | 26.5% |
| 每股收益（稀释后） | $2.68 | $1.91 |
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TPRYUM
| Q4 25 | $2.5B | $2.5B | ||
| Q3 25 | $1.7B | $2.0B | ||
| Q2 25 | $1.7B | $1.9B | ||
| Q1 25 | $1.6B | $1.8B | ||
| Q4 24 | $2.2B | $2.4B | ||
| Q3 24 | $1.5B | $1.8B | ||
| Q2 24 | $1.6B | $1.8B | ||
| Q1 24 | $1.5B | $1.6B |
净利润TPRYUM
| Q4 25 | $561.3M | $535.0M | ||
| Q3 25 | $274.8M | $397.0M | ||
| Q2 25 | $-517.1M | $374.0M | ||
| Q1 25 | $203.3M | $253.0M | ||
| Q4 24 | $310.4M | $423.0M | ||
| Q3 24 | $186.6M | $382.0M | ||
| Q2 24 | $159.3M | $367.0M | ||
| Q1 24 | $139.4M | $314.0M |
毛利率TPRYUM
| Q4 25 | 75.5% | 67.6% | ||
| Q3 25 | 76.3% | 70.3% | ||
| Q2 25 | 76.3% | 71.0% | ||
| Q1 25 | 76.1% | 70.9% | ||
| Q4 24 | 74.4% | 69.2% | ||
| Q3 24 | 75.3% | 71.4% | ||
| Q2 24 | 74.9% | 73.3% | ||
| Q1 24 | 74.7% | 75.0% |
营业利润率TPRYUM
| Q4 25 | 28.6% | 29.3% | ||
| Q3 25 | 19.3% | 33.7% | ||
| Q2 25 | -33.9% | 32.2% | ||
| Q1 25 | 16.0% | 30.7% | ||
| Q4 24 | 22.4% | 27.8% | ||
| Q3 24 | 16.7% | 33.9% | ||
| Q2 24 | 14.8% | 34.4% | ||
| Q1 24 | 13.8% | 32.5% |
净利率TPRYUM
| Q4 25 | 22.4% | 21.3% | ||
| Q3 25 | 16.1% | 20.1% | ||
| Q2 25 | -30.0% | 19.3% | ||
| Q1 25 | 12.8% | 14.2% | ||
| Q4 24 | 14.1% | 17.9% | ||
| Q3 24 | 12.4% | 20.9% | ||
| Q2 24 | 10.0% | 20.8% | ||
| Q1 24 | 9.4% | 19.6% |
每股收益（稀释后）TPRYUM
| Q4 25 | $2.68 | $1.91 | ||
| Q3 25 | $1.28 | $1.41 | ||
| Q2 25 | $-2.30 | $1.33 | ||
| Q1 25 | $0.95 | $0.90 | ||
| Q4 24 | $1.38 | $1.49 | ||
| Q3 24 | $0.79 | $1.35 | ||
| Q2 24 | $0.67 | $1.28 | ||
| Q1 24 | $0.60 | $1.10 |
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 | $1.1B | $709.0M |
| 总债务越低越好 | $2.4B | $11.9B |
| 股东权益账面价值 | $551.2M | $-7.3B |
| 总资产 | $6.5B | $8.2B |
| 负债/权益比越低杠杆越低 | 4.32× | — |
8季度趋势，按日历期对齐
现金及短期投资TPRYUM
| Q4 25 | $1.1B | $709.0M | ||
| Q3 25 | $743.2M | $1.0B | ||
| Q2 25 | $1.1B | $677.0M | ||
| Q1 25 | $1.1B | $607.0M | ||
| Q4 24 | $1.0B | $707.0M | ||
| Q3 24 | $7.3B | $548.0M | ||
| Q2 24 | $7.2B | $520.0M | ||
| Q1 24 | $7.4B | $652.0M |
总债务TPRYUM
| Q4 25 | $2.4B | $11.9B | ||
| Q3 25 | $2.4B | $11.5B | ||
| Q2 25 | $2.4B | $10.4B | ||
| Q1 25 | $2.4B | $11.3B | ||
| Q4 24 | $2.4B | $11.3B | ||
| Q3 24 | $7.0B | $11.2B | ||
| Q2 24 | $6.9B | $11.1B | ||
| Q1 24 | $7.7B | $11.1B |
股东权益TPRYUM
| Q4 25 | $551.2M | $-7.3B | ||
| Q3 25 | $399.5M | $-7.5B | ||
| Q2 25 | $857.8M | $-7.7B | ||
| Q1 25 | $1.5B | $-7.8B | ||
| Q4 24 | $1.3B | $-7.6B | ||
| Q3 24 | $3.0B | $-7.7B | ||
| Q2 24 | $2.9B | $-7.6B | ||
| Q1 24 | $2.8B | $-7.8B |
总资产TPRYUM
| Q4 25 | $6.5B | $8.2B | ||
| Q3 25 | $6.4B | $7.2B | ||
| Q2 25 | $6.6B | $6.9B | ||
| Q1 25 | $7.3B | $6.7B | ||
| Q4 24 | $7.3B | $6.7B | ||
| Q3 24 | $13.7B | $6.5B | ||
| Q2 24 | $13.4B | $6.4B | ||
| Q1 24 | $13.7B | $6.2B |
负债/权益比TPRYUM
| Q4 25 | 4.32× | — | ||
| Q3 25 | 5.95× | — | ||
| Q2 25 | 2.77× | — | ||
| Q1 25 | 1.59× | — | ||
| Q4 24 | 1.78× | — | ||
| Q3 24 | 2.35× | — | ||
| Q2 24 | 2.39× | — | ||
| Q1 24 | 2.77× | — |
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 | $1.1B | $617.0M |
| 自由现金流经营现金流 - 资本支出 | $1.0B | $482.0M |
| 自由现金流率自由现金流/营收 | 41.5% | 19.2% |
| 资本支出强度资本支出/营收 | 1.7% | 5.4% |
| 现金转化率经营现金流/净利润 | 1.93× | 1.15× |
| 过去12个月自由现金流最近4个季度 | $1.6B | $1.6B |
8季度趋势，按日历期对齐
经营现金流TPRYUM
| Q4 25 | $1.1B | $617.0M | ||
| Q3 25 | $112.6M | $543.0M | ||
| Q2 25 | $446.8M | $446.0M | ||
| Q1 25 | $144.3M | $404.0M | ||
| Q4 24 | $506.0M | $513.0M | ||
| Q3 24 | $119.5M | $471.0M | ||
| Q2 24 | $256.0M | $342.0M | ||
| Q1 24 | $97.8M | $363.0M |
自由现金流TPRYUM
| Q4 25 | $1.0B | $482.0M | ||
| Q3 25 | $80.2M | $449.0M | ||
| Q2 25 | $411.5M | $375.0M | ||
| Q1 25 | $113.4M | $333.0M | ||
| Q4 24 | $475.1M | $407.0M | ||
| Q3 24 | $93.9M | $419.0M | ||
| Q2 24 | $209.8M | $292.0M | ||
| Q1 24 | $78.8M | $314.0M |
自由现金流率TPRYUM
| Q4 25 | 41.5% | 19.2% | ||
| Q3 25 | 4.7% | 22.7% | ||
| Q2 25 | 23.9% | 19.4% | ||
| Q1 25 | 7.2% | 18.6% | ||
| Q4 24 | 21.6% | 17.2% | ||
| Q3 24 | 6.2% | 22.9% | ||
| Q2 24 | 13.2% | 16.6% | ||
| Q1 24 | 5.3% | 19.6% |
资本支出强度TPRYUM
| Q4 25 | 1.7% | 5.4% | ||
| Q3 25 | 1.9% | 4.7% | ||
| Q2 25 | 2.0% | 3.7% | ||
| Q1 25 | 2.0% | 4.0% | ||
| Q4 24 | 1.4% | 4.5% | ||
| Q3 24 | 1.7% | 2.8% | ||
| Q2 24 | 2.9% | 2.8% | ||
| Q1 24 | 1.3% | 3.1% |
现金转化率TPRYUM
| Q4 25 | 1.93× | 1.15× | ||
| Q3 25 | 0.41× | 1.37× | ||
| Q2 25 | — | 1.19× | ||
| Q1 25 | 0.71× | 1.60× | ||
| Q4 24 | 1.63× | 1.21× | ||
| Q3 24 | 0.64× | 1.23× | ||
| Q2 24 | 1.61× | 0.93× | ||
| Q1 24 | 0.70× | 1.16× |
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
TPR
| Coach | $1.4B | 57% |
| Other | $787.0M | 31% |
| Kate Spade Company | $290.0M | 12% |
YUM
| Other | $1.5B | 59% |
| Advertising | $547.0M | 22% |
| Pizza Hut Global Division | $303.0M | 12% |
| The Habit Burger Grill Global Division | $174.0M | 7% |
| Real Estate | $4.0M | 0% |
