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Texas Roadhouse, Inc.（TXRH）与Wingstop Inc.（WING）财务数据对比。点击上方公司名可切换其他公司
Texas Roadhouse, Inc.的季度营收约是Wingstop Inc.的8.4倍（$1.5B vs $175.7M）。Wingstop Inc.净利率更高（15.2% vs 5.8%，领先9.4%）。Wingstop Inc.同比增速更快（8.6% vs 3.1%）。过去两年Texas Roadhouse, Inc.的营收复合增速更高（12.8% vs 9.8%）
Texas Roadhouse是美国知名牛排连锁餐厅，主打德克萨斯及美国西南部风味餐食，核心产品为各类牛排。品牌总部位于肯塔基州路易斯维尔，旗下还运营另外两个餐饮品牌。截至2025年8月，品牌在美国49个州拥有约800家门店，同时在11个国家开设了70家海外门店。
Wingstop Inc.是美国知名跨国快餐连锁品牌，核心产品为布法罗鸡翅，旗下门店均采用20世纪30至40年代喷气时代前的航空主题装饰风格，目前业务已覆盖全球多个国家和地区。
TXRH vs WING — 直观对比
营收规模更大
TXRH
是对方的8.4倍
$175.7M
营收增速更快
WING
高出5.5%
3.1%
净利率更高
WING
高出9.4%
5.8%
两年增速更快
TXRH
近两年复合增速
9.8%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.5B | $175.7M |
| 净利润 | $86.7M | $26.8M |
| 毛利率 | — | — |
| 营业利润率 | 6.5% | 26.7% |
| 净利率 | 5.8% | 15.2% |
| 营收同比 | 3.1% | 8.6% |
| 净利润同比 | -26.9% | 0.0% |
| 每股收益（稀释后） | $1.29 | $0.99 |
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TXRHWING
| Q4 25 | $1.5B | $175.7M | ||
| Q3 25 | $1.4B | $175.7M | ||
| Q2 25 | $1.4B | $174.3M | ||
| Q1 25 | — | $171.1M | ||
| Q4 24 | $1.4B | $161.8M | ||
| Q3 24 | $1.3B | $162.5M | ||
| Q2 24 | $1.3B | $155.7M | ||
| Q1 24 | $1.3B | $145.8M |
净利润TXRHWING
| Q4 25 | $86.7M | $26.8M | ||
| Q3 25 | $84.9M | $28.5M | ||
| Q2 25 | $116.1M | $26.8M | ||
| Q1 25 | — | $92.3M | ||
| Q4 24 | $118.5M | $26.8M | ||
| Q3 24 | $86.8M | $25.7M | ||
| Q2 24 | $123.1M | $27.5M | ||
| Q1 24 | $116.0M | $28.7M |
毛利率TXRHWING
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 85.6% | ||
| Q3 24 | — | 85.0% | ||
| Q2 24 | — | 85.4% | ||
| Q1 24 | — | 85.4% |
营业利润率TXRHWING
| Q4 25 | 6.5% | 26.7% | ||
| Q3 25 | 6.7% | 27.9% | ||
| Q2 25 | 9.3% | 25.9% | ||
| Q1 25 | — | 22.4% | ||
| Q4 24 | 9.6% | 25.9% | ||
| Q3 24 | 8.0% | 24.5% | ||
| Q2 24 | 10.6% | 26.5% | ||
| Q1 24 | 10.1% | 29.3% |
净利率TXRHWING
| Q4 25 | 5.8% | 15.2% | ||
| Q3 25 | 5.9% | 16.2% | ||
| Q2 25 | 8.0% | 15.4% | ||
| Q1 25 | — | 53.9% | ||
| Q4 24 | 8.2% | 16.5% | ||
| Q3 24 | 6.8% | 15.8% | ||
| Q2 24 | 9.2% | 17.7% | ||
| Q1 24 | 8.8% | 19.7% |
每股收益（稀释后）TXRHWING
| Q4 25 | $1.29 | $0.99 | ||
| Q3 25 | $1.25 | $1.02 | ||
| Q2 25 | $1.70 | $0.96 | ||
| Q1 25 | — | $3.24 | ||
| Q4 24 | $1.73 | $0.91 | ||
| Q3 24 | $1.26 | $0.88 | ||
| Q2 24 | $1.79 | $0.93 | ||
| Q1 24 | $1.69 | $0.98 |
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 | $134.7M | $196.6M |
| 总债务越低越好 | — | $1.2B |
| 股东权益账面价值 | $1.5B | $-736.8M |
| 总资产 | $3.5B | $693.4M |
| 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TXRHWING
| Q4 25 | $134.7M | $196.6M | ||
| Q3 25 | $108.2M | $237.6M | ||
| Q2 25 | $221.1M | $227.9M | ||
| Q1 25 | — | $251.4M | ||
| Q4 24 | $245.2M | $315.9M | ||
| Q3 24 | $189.2M | $84.0M | ||
| Q2 24 | $197.5M | $96.7M | ||
| Q1 24 | $213.4M | $108.3M |
总债务TXRHWING
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益TXRHWING
| Q4 25 | $1.5B | $-736.8M | ||
| Q3 25 | $1.5B | $-702.6M | ||
| Q2 25 | $1.4B | $-686.0M | ||
| Q1 25 | — | $-715.0M | ||
| Q4 24 | $1.4B | $-675.6M | ||
| Q3 24 | $1.3B | $-447.5M | ||
| Q2 24 | $1.3B | $-437.5M | ||
| Q1 24 | $1.2B | $-434.4M |
总资产TXRHWING
| Q4 25 | $3.5B | $693.4M | ||
| Q3 25 | $3.3B | $721.0M | ||
| Q2 25 | $3.2B | $708.3M | ||
| Q1 25 | — | $696.8M | ||
| Q4 24 | $3.2B | $716.2M | ||
| Q3 24 | $2.9B | $484.8M | ||
| Q2 24 | $2.9B | $451.8M | ||
| Q1 24 | $2.8B | $412.3M |
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 | — | $57.3M |
| 自由现金流经营现金流 - 资本支出 | — | $34.5M |
| 自由现金流率自由现金流/营收 | — | 19.6% |
| 资本支出强度资本支出/营收 | — | 13.0% |
| 现金转化率经营现金流/净利润 | — | 2.14× |
| 过去12个月自由现金流最近4个季度 | — | $105.6M |
8季度趋势，按日历期对齐
经营现金流TXRHWING
| Q4 25 | — | $57.3M | ||
| Q3 25 | $143.6M | $63.9M | ||
| Q2 25 | $237.7M | $6.6M | ||
| Q1 25 | — | $25.3M | ||
| Q4 24 | $237.5M | $7.7M | ||
| Q3 24 | $138.7M | $69.0M | ||
| Q2 24 | $133.9M | $36.2M | ||
| Q1 24 | $243.4M | $44.7M |
自由现金流TXRHWING
| Q4 25 | — | $34.5M | ||
| Q3 25 | $14.7M | $61.7M | ||
| Q2 25 | $160.4M | $-7.8M | ||
| Q1 25 | — | $17.3M | ||
| Q4 24 | $129.7M | $-8.6M | ||
| Q3 24 | $47.7M | $54.9M | ||
| Q2 24 | $56.1M | $25.9M | ||
| Q1 24 | $165.8M | $33.5M |
自由现金流率TXRHWING
| Q4 25 | — | 19.6% | ||
| Q3 25 | 1.0% | 35.1% | ||
| Q2 25 | 11.1% | -4.5% | ||
| Q1 25 | — | 10.1% | ||
| Q4 24 | 9.0% | -5.3% | ||
| Q3 24 | 3.7% | 33.8% | ||
| Q2 24 | 4.2% | 16.6% | ||
| Q1 24 | 12.5% | 23.0% |
资本支出强度TXRHWING
| Q4 25 | — | 13.0% | ||
| Q3 25 | 9.0% | 1.3% | ||
| Q2 25 | 5.3% | 8.2% | ||
| Q1 25 | — | 4.7% | ||
| Q4 24 | 7.5% | 10.1% | ||
| Q3 24 | 7.2% | 8.7% | ||
| Q2 24 | 5.8% | 6.6% | ||
| Q1 24 | 5.9% | 7.7% |
现金转化率TXRHWING
| Q4 25 | — | 2.14× | ||
| Q3 25 | 1.69× | 2.24× | ||
| Q2 25 | 2.05× | 0.25× | ||
| Q1 25 | — | 0.27× | ||
| Q4 24 | 2.00× | 0.29× | ||
| Q3 24 | 1.60× | 2.68× | ||
| Q2 24 | 1.09× | 1.32× | ||
| Q1 24 | 2.10× | 1.55× |
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
TXRH
| Food And Beverage | $1.5B | 99% |
| Texas Roadhouse Segment | $21.2M | 1% |
| Franchise | $8.2M | 1% |
| Franchise Royalty | $7.4M | 0% |
| Bubba S33Segment | $2.3M | 0% |
WING
| Royalty | $73.7M | 42% |
| Advertising | $61.4M | 35% |
| Franchisor Owned Outlet | $32.4M | 18% |
| Other | $6.4M | 4% |
| Franchise | $1.8M | 1% |
