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Targa Resources（TRGP）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
Targa Resources的季度营收约是百胜餐饮集团的1.6倍（$4.1B vs $2.5B），百胜餐饮集团净利率更高（21.3% vs 13.4%，领先7.8%），百胜餐饮集团同比增速更快（6.5% vs -7.9%），Targa Resources自由现金流更多（$542.3M vs $482.0M），过去两年百胜餐饮集团的营收复合增速更高（25.5% vs 0.8%）
Targa Resources Corp.为财富500强企业，总部位于美国得克萨斯州休斯敦，是美国规模最大的中游能源基础设施企业之一，主营天然气及天然气凝液输送业务，运营资产主要集中在墨西哥湾沿岸，得克萨斯州与路易斯安那州为核心布局区域，马修·J·梅洛伊自2020年起担任首席执行官。
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。
TRGP vs YUM — 直观对比
营收规模更大
TRGP
是对方的1.6倍
$2.5B
营收增速更快
YUM
高出14.4%
-7.9%
净利率更高
YUM
高出7.8%
13.4%
自由现金流更多
TRGP
多$60.3M
$482.0M
两年增速更快
YUM
近两年复合增速
0.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.1B | $2.5B |
| 净利润 | $545.0M | $535.0M |
| 毛利率 | 43.1% | 67.6% |
| 营业利润率 | 22.6% | 29.3% |
| 净利率 | 13.4% | 21.3% |
| 营收同比 | -7.9% | 6.5% |
| 净利润同比 | 55.3% | 26.5% |
| 每股收益（稀释后） | $2.51 | $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TRGPYUM
| Q4 25 | $4.1B | $2.5B | ||
| Q3 25 | $4.2B | $2.0B | ||
| Q2 25 | $4.3B | $1.9B | ||
| Q1 25 | $4.6B | $1.8B | ||
| Q4 24 | $4.4B | $2.4B | ||
| Q3 24 | $3.9B | $1.8B | ||
| Q2 24 | $3.0B | $1.8B | ||
| Q1 24 | $4.0B | $1.6B |
净利润TRGPYUM
| Q4 25 | $545.0M | $535.0M | ||
| Q3 25 | $478.4M | $397.0M | ||
| Q2 25 | $629.1M | $374.0M | ||
| Q1 25 | $270.5M | $253.0M | ||
| Q4 24 | $350.9M | $423.0M | ||
| Q3 24 | $387.4M | $382.0M | ||
| Q2 24 | $298.5M | $367.0M | ||
| Q1 24 | $275.2M | $314.0M |
毛利率TRGPYUM
| Q4 25 | 43.1% | 67.6% | ||
| Q3 25 | 39.6% | 70.3% | ||
| Q2 25 | 42.8% | 71.0% | ||
| Q1 25 | 28.6% | 70.9% | ||
| Q4 24 | 33.7% | 69.2% | ||
| Q3 24 | 38.6% | 71.4% | ||
| Q2 24 | 27.9% | 73.3% | ||
| Q1 24 | 19.3% | 75.0% |
营业利润率TRGPYUM
| Q4 25 | 22.6% | 29.3% | ||
| Q3 25 | 20.2% | 33.7% | ||
| Q2 25 | 24.3% | 32.2% | ||
| Q1 25 | 11.9% | 30.7% | ||
| Q4 24 | 15.9% | 27.8% | ||
| Q3 24 | 18.9% | 33.9% | ||
| Q2 24 | 20.6% | 34.4% | ||
| Q1 24 | 16.0% | 32.5% |
净利率TRGPYUM
| Q4 25 | 13.4% | 21.3% | ||
| Q3 25 | 11.5% | 20.1% | ||
| Q2 25 | 14.8% | 19.3% | ||
| Q1 25 | 5.9% | 14.2% | ||
| Q4 24 | 8.0% | 17.9% | ||
| Q3 24 | 10.1% | 20.9% | ||
| Q2 24 | 9.8% | 20.8% | ||
| Q1 24 | 6.9% | 19.6% |
每股收益（稀释后）TRGPYUM
| Q4 25 | $2.51 | $1.91 | ||
| Q3 25 | $2.20 | $1.41 | ||
| Q2 25 | $2.87 | $1.33 | ||
| Q1 25 | $0.91 | $0.90 | ||
| Q4 24 | $1.44 | $1.49 | ||
| Q3 24 | $1.75 | $1.35 | ||
| Q2 24 | $1.33 | $1.28 | ||
| Q1 24 | $1.22 | $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 | $166.1M | $709.0M |
| 总债务越低越好 | $16.7B | $11.9B |
| 股东权益账面价值 | $3.1B | $-7.3B |
| 总资产 | $25.2B | $8.2B |
| 负债/权益比越低杠杆越低 | 5.43× | — |
8季度趋势，按日历期对齐
现金及短期投资TRGPYUM
| Q4 25 | $166.1M | $709.0M | ||
| Q3 25 | $124.1M | $1.0B | ||
| Q2 25 | $113.1M | $677.0M | ||
| Q1 25 | $151.4M | $607.0M | ||
| Q4 24 | $157.3M | $707.0M | ||
| Q3 24 | $127.2M | $548.0M | ||
| Q2 24 | $166.4M | $520.0M | ||
| Q1 24 | $109.9M | $652.0M |
总债务TRGPYUM
| Q4 25 | $16.7B | $11.9B | ||
| Q3 25 | $16.7B | $11.5B | ||
| Q2 25 | $16.1B | $10.4B | ||
| Q1 25 | $15.5B | $11.3B | ||
| Q4 24 | $13.8B | $11.3B | ||
| Q3 24 | $13.6B | $11.2B | ||
| Q2 24 | $13.0B | $11.1B | ||
| Q1 24 | $12.5B | $11.1B |
股东权益TRGPYUM
| Q4 25 | $3.1B | $-7.3B | ||
| Q3 25 | $2.7B | $-7.5B | ||
| Q2 25 | $2.6B | $-7.7B | ||
| Q1 25 | $2.5B | $-7.8B | ||
| Q4 24 | $2.6B | $-7.6B | ||
| Q3 24 | $2.6B | $-7.7B | ||
| Q2 24 | $2.5B | $-7.6B | ||
| Q1 24 | $2.7B | $-7.8B |
总资产TRGPYUM
| Q4 25 | $25.2B | $8.2B | ||
| Q3 25 | $24.2B | $7.2B | ||
| Q2 25 | $23.5B | $6.9B | ||
| Q1 25 | $22.8B | $6.7B | ||
| Q4 24 | $22.7B | $6.7B | ||
| Q3 24 | $21.9B | $6.5B | ||
| Q2 24 | $21.3B | $6.4B | ||
| Q1 24 | $20.8B | $6.2B |
负债/权益比TRGPYUM
| Q4 25 | 5.43× | — | ||
| Q3 25 | 6.19× | — | ||
| Q2 25 | 6.21× | — | ||
| Q1 25 | 6.34× | — | ||
| Q4 24 | 5.32× | — | ||
| Q3 24 | 5.28× | — | ||
| Q2 24 | 5.25× | — | ||
| Q1 24 | 4.63× | — |
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 | $1.5B | $617.0M |
| 自由现金流经营现金流 - 资本支出 | $542.3M | $482.0M |
| 自由现金流率自由现金流/营收 | 13.4% | 19.2% |
| 资本支出强度资本支出/营收 | 23.8% | 5.4% |
| 现金转化率经营现金流/净利润 | 2.76× | 1.15× |
| 过去12个月自由现金流最近4个季度 | $584.1M | $1.6B |
8季度趋势，按日历期对齐
经营现金流TRGPYUM
| Q4 25 | $1.5B | $617.0M | ||
| Q3 25 | $599.2M | $543.0M | ||
| Q2 25 | $858.3M | $446.0M | ||
| Q1 25 | $954.4M | $404.0M | ||
| Q4 24 | $1.3B | $513.0M | ||
| Q3 24 | $540.9M | $471.0M | ||
| Q2 24 | $904.5M | $342.0M | ||
| Q1 24 | $876.4M | $363.0M |
自由现金流TRGPYUM
| Q4 25 | $542.3M | $482.0M | ||
| Q3 25 | $-72.6M | $449.0M | ||
| Q2 25 | $-47.8M | $375.0M | ||
| Q1 25 | $162.2M | $333.0M | ||
| Q4 24 | $601.0M | $407.0M | ||
| Q3 24 | $-287.9M | $419.0M | ||
| Q2 24 | $164.2M | $292.0M | ||
| Q1 24 | $206.6M | $314.0M |
自由现金流率TRGPYUM
| Q4 25 | 13.4% | 19.2% | ||
| Q3 25 | -1.7% | 22.7% | ||
| Q2 25 | -1.1% | 19.4% | ||
| Q1 25 | 3.6% | 18.6% | ||
| Q4 24 | 13.6% | 17.2% | ||
| Q3 24 | -7.5% | 22.9% | ||
| Q2 24 | 5.4% | 16.6% | ||
| Q1 24 | 5.2% | 19.6% |
资本支出强度TRGPYUM
| Q4 25 | 23.8% | 5.4% | ||
| Q3 25 | 16.2% | 4.7% | ||
| Q2 25 | 21.3% | 3.7% | ||
| Q1 25 | 17.4% | 4.0% | ||
| Q4 24 | 16.5% | 4.5% | ||
| Q3 24 | 21.5% | 2.8% | ||
| Q2 24 | 24.3% | 2.8% | ||
| Q1 24 | 16.8% | 3.1% |
现金转化率TRGPYUM
| Q4 25 | 2.76× | 1.15× | ||
| Q3 25 | 1.25× | 1.37× | ||
| Q2 25 | 1.36× | 1.19× | ||
| Q1 25 | 3.53× | 1.60× | ||
| Q4 24 | 3.78× | 1.21× | ||
| Q3 24 | 1.40× | 1.23× | ||
| Q2 24 | 3.03× | 0.93× | ||
| Q1 24 | 3.18× | 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
TRGP
| Logistics And Transportation | $3.4B | 83% |
| Natural Gas Reserves | $393.1M | 10% |
| Storage Terminaling And Export | $130.9M | 3% |
| Oil And Condensate | $112.0M | 3% |
| NGL Transportation Fractionation And Services | $64.7M | 2% |
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% |
