{"id":620866,"date":"2026-02-17T22:32:37","date_gmt":"2026-02-18T06:32:37","guid":{"rendered":"https:\/\/nai500.com\/?p=620866"},"modified":"2026-02-17T22:32:37","modified_gmt":"2026-02-18T06:32:37","slug":"%e5%8a%a0%e6%8b%bf%e5%a4%a7%e4%be%bf%e5%88%a9%e5%ba%97%e5%b7%a8%e5%a4%b4%e4%bb%8a%e5%b9%b4%e6%b6%a8%e8%b6%8511%ef%bc%8c%e7%8e%b0%e5%9c%a8%e4%b8%8a%e8%bd%a6%e8%bf%98%e6%9d%a5%e5%be%97%e5%8f%8a%e5%90%97","status":"publish","type":"post","link":"https:\/\/nai500.com\/zh-hans\/blog\/2026\/02\/%e5%8a%a0%e6%8b%bf%e5%a4%a7%e4%be%bf%e5%88%a9%e5%ba%97%e5%b7%a8%e5%a4%b4%e4%bb%8a%e5%b9%b4%e6%b6%a8%e8%b6%8511%ef%bc%8c%e7%8e%b0%e5%9c%a8%e4%b8%8a%e8%bd%a6%e8%bf%98%e6%9d%a5%e5%be%97%e5%8f%8a%e5%90%97\/","title":{"rendered":"\u52a0\u62ff\u5927\u4fbf\u5229\u5e97\u5de8\u5934\u4eca\u5e74\u6da8\u8d8511%\uff0c\u73b0\u5728\u4e0a\u8f66\u8fd8\u6765\u5f97\u53ca\u5417\uff1f"},"content":{"rendered":"

\u57282025\u5e74\u51e0\u4e4e\u6a2a\u76d8\u4e00\u5e74\u540e\uff0c\u52a0\u62ff\u5927\u4fbf\u5229\u5e97\u5de8\u5934\u00a0Alimentation Couche-Tard (TSX:ATD)<\/strong>\u00a0<\/a>\u57282026\u5e74\u521d\u8fce\u6765\u7206\u53d1\u3002\u622a\u81f32\u6708\u4e2d\u65ec\uff0c\u8be5\u80a1\u5e74\u5185\u7d2f\u8ba1\u6da8\u5e45\u5df2\u8d85\u8fc711%\u4e14\u6da8\u52bf\u4e1d\u6beb\u6ca1\u6709\u653e\u7f13\u7684\u8ff9\u8c61\u3002\u968f\u7740\u65b0CEO\u7684\u4e0a\u4efb\u548c\u201c\u6838\u5fc3+\u66f4\u591a\u201d\uff08Core + More\uff09\u6218\u7565\u7684\u53d1\u5e03\uff0c\u5e02\u573a\u5f00\u59cb\u91cd\u65b0\u5ba1\u89c6\u8fd9\u5bb6\u4f4e\u8c03\u5de8\u5934\u7684\u589e\u957f\u6f5c\u529b\u3002<\/p>\n

Couche-Tard\u80a1\u4ef7\u7684\u7a81\u7136\u98d9\u5347\u5e76\u975e\u5076\u7136\u3002\u5728\u638c\u8235\u591a\u5e74\u7684\u521b\u59cb\u4eba\u5378\u4efb\u540e\uff0c\u65b0\u4efbCEO\u00a0Alex Miller\u00a0\u4e8e2026\u5e742\u6708\u6b63\u5f0f\u516c\u5e03\u4e86\u516c\u53f8\u4e0b\u4e00\u9636\u6bb5\u7684\u6218\u7565\u89c4\u5212\u3002Miller\u8868\u793a\uff1a\u201c\u8fd9\u4e00\u6218\u7565\u610f\u5473\u7740\u5c06\u6211\u4eec\u7684\u89c4\u6a21\u3001\u7f51\u7edc\u548c\u4eba\u624d\u7684\u5168\u9762\u529b\u91cf\u8f6c\u5316\u4e3a\u80a1\u4e1c\u66f4\u5927\u7684\u4ef7\u503c\u3002\u201d<\/p>\n

\u8fc7\u53bb\uff0cCouche-Tard\u4e00\u76f4\u4ee5\u7a33\u5065\u7684\u5e76\u8d2d\u9a71\u52a8\u589e\u957f\u800c\u8457\u79f0\uff0c\u4f46\u80a1\u4ef7\u8868\u73b0\u4e5f\u65f6\u5e38\u56e0\u7f3a\u4e4f\u79d1\u6280\u60f3\u8c61\u7a7a\u95f4\u800c\u88ab\u4f4e\u4f30\u3002\u5982\u4eca\uff0c\u6295\u8d44\u8005\u4f3c\u4e4e\u5f00\u59cb\u8ba4\u540c\u8fd9\u79cd\u53ef\u9884\u6d4b\u7684\u201c\u4f4e\u79d1\u6280\u201d\u589e\u957f\u6a21\u5f0f\u7684\u4ef7\u503c\u30022026\u5e74\u8fc4\u4eca\u7684\u4e0a\u6da8\uff0c\u6b63\u662f\u5e02\u573a\u7ed9\u4e88\u7684\u91cd\u65b0\u8bc4\u7ea7\u3002<\/p>\n

\u4e0d\u53ea\u662f\u52a0\u6cb9\u7ad9\uff1a\u98df\u54c1\u4e1a\u52a1\u8ba9Circle K\u53d8\u8eab\u201c\u98ce\u5473\u4e4b\u90fd\u201d<\/h2>\n

\u5982\u679c\u8bf4\u5e76\u8d2d\u662fCouche-Tard\u968f\u65f6\u53ef\u62c9\u7684\u201c\u589e\u957f\u6760\u6746\u201d\uff0c\u90a3\u4e48\u98df\u54c1\u4e1a\u52a1\u7684\u5347\u7ea7\u5219\u662f\u672a\u6765\u5341\u5e74\u7684\u5185\u751f\u589e\u957f\u5f15\u64ce\u3002\u516c\u53f8\u65e9\u5df2\u6d1e\u5bdf\u5230\u4fbf\u5229\u5e97\u884c\u4e1a\u7684\u672a\u6765\u8d8b\u52bf\u2014\u2014\u66f4\u50cf\u4e00\u5bb6\u9910\u5385\uff0c\u540c\u65f6\u63d0\u4f9b\u4fbf\u5229\u7684\u6742\u8d27\u81ea\u63d0\u670d\u52a1\u3002\u8fd1\u5e74\u6765\uff0cCouche-Tard\u4e00\u76f4\u5728\u52a0\u5f3a\u98df\u54c1\u4e1a\u52a1\uff0c\u5176\u4e2d\u6700\u5f15\u4eba\u6ce8\u76ee\u7684\u5f53\u5c5e\u4e0e\u660e\u661f\u53a8\u5e08\u00a0Guy Fieri\u00a0\u5408\u4f5c\u5c06\u65d7\u4e0b\u7684\u00a0Circle K\u00a0\u95e8\u5e97\u5e26\u5165\u4e86\u201c\u98ce\u5473\u4e4b\u90fd\u201d\uff08Flavortown\uff09\u3002<\/p>\n

\u5206\u6790\u5e08\u8ba4\u4e3a\uff0cCouche-Tard\u7684\u98df\u54c1\u4e1a\u52a1\u53ef\u4ee5\u53d8\u5f97\u66f4\u52a0\u201c\u9910\u5385\u5316\u201d\uff0c\u65e0\u8bba\u662f\u63a8\u51fa\u73b0\u70b9\u73b0\u505a\u7684\u62ab\u8428\uff0c\u8fd8\u662f\u6f5c\u8247\u5821\uff0c\u90fd\u6709\u5de8\u5927\u7684\u60f3\u8c61\u7a7a\u95f4\u3002\u51ed\u501f\u5f3a\u52b2\u7684\u8d44\u4ea7\u8d1f\u503a\u8868\uff08\u5c24\u5176\u662f\u5728\u672a\u80fd\u6536\u8d2d7-Eleven\u6bcd\u516c\u53f87&i Holdings\u4e4b\u540e\uff09\uff0c\u516c\u53f8\u5b8c\u5168\u6709\u80fd\u529b\u901a\u8fc7\u5e76\u8d2d\u83b7\u5f97\u5408\u9002\u7684\u4eba\u624d\u548c\u6280\u672f\uff0c\u8fdb\u4e00\u6b65\u6df1\u8015\u70ed\u98df\u9886\u57df\u3002<\/p>\n

Couche-Tard\u76ee\u524d\u5e02\u503c\u5df2\u8fbe768\u4ebf\u52a0\u5143\uff0c\u662f\u5168\u7403\u4fbf\u5229\u5e97\u884c\u4e1a\u7684\u9886\u5bfc\u8005\u3002\u516c\u53f8\u62e5\u6709\u5145\u8db3\u7684\u8d22\u52a1\u706b\u529b\uff0c\u4f46\u7ba1\u7406\u5c42\u8868\u793a\u5c06\u7cbe\u6311\u7ec6\u9009\uff0c\u5728\u5408\u9002\u7684\u65f6\u673a\u6263\u52a8\u6273\u673a\u3002\u76ee\u524d\uff0c\u5206\u6790\u5e08\u666e\u904d\u9884\u671f\u516c\u53f8\u4f1a\u5728\u6b27\u6d32\u8fdb\u884c\u4e00\u4e9b\u201c\u8865\u5f3a\u5f0f\u201d\u7684\u6536\u8d2d\uff08bolt-on deals\uff09\uff0c\u4ee5\u5de9\u56fa\u5176\u5168\u7403\u5e03\u5c40\u3002\u4f46\u5728\u7f8e\u56fd\u672c\u571f\uff0c\u6536\u8d2d\u50cfSheetz\u8fd9\u6837\u6ce8\u91cd\u98df\u54c1\u54c1\u8d28\u7684\u533a\u57df\u8fde\u9501\u6216\u8bb8\u80fd\u5e26\u6765\u66f4\u5927\u7684\u534f\u540c\u6548\u5e94\u3002\u6b64\u5916\uff0c\u4e5f\u4e0d\u6392\u9664\u672a\u6765\u518d\u6b21\u5c1d\u8bd5\u8fdb\u5165\u6742\u8d27\u6216\u9910\u996e\u884c\u4e1a\u7684\u53ef\u80fd\u6027\u3002<\/p>\n

\u5728\u7b49\u5f85\u5927\u4ea4\u6613\u7684\u95f4\u9699\uff0cCouche-Tard\u4e5f\u5728\u79ef\u6781\u90e8\u7f72\u8d44\u672c\uff1a<\/p>\n

    \n
  • \u80a1\u7968\u56de\u8d2d<\/strong>\uff1a\u5229\u7528\u5f3a\u5927\u7684\u73b0\u91d1\u6d41\u8fdb\u884c\u56de\u8d2d\uff0c\u652f\u6491\u80a1\u4ef7\u3002<\/li>\n
  • \u6709\u673a\u589e\u957f<\/strong>\uff1a\u6295\u8d44\u65b0\u5efa\u95e8\u5e97\uff08new-to-industry builds\uff09\u3002<\/li>\n
  • \u4f9b\u5e94\u94fe\u5347\u7ea7<\/strong>\uff1a\u672a\u6765\u4e94\u5e74\u901a\u8fc7AI\u548c\u673a\u5668\u4eba\u6280\u672f\u63d0\u5347\u4f9b\u5e94\u94fe\u6548\u7387\uff0c\u91ca\u653e\u66f4\u591a\u5229\u6da6\u7a7a\u95f4\u3002<\/li>\n<\/ul>\n

    \u8d22\u52a1\u6570\u636e\u663e\u793a\uff0c\u516c\u53f82026\u8d22\u5e74\u9884\u671f\u81ea\u7531\u73b0\u91d1\u6d41\u5c06\u8d85\u8fc725\u4ebf\u7f8e\u5143\u3002\u7ba1\u7406\u5c42\u66f4\u662f\u8bbe\u5b9a\u4e86\u52302030\u8d22\u5e74\uff0c\u8c03\u6574\u540eEBITDA\u5b9e\u73b06%\u81f38%\u7684\u5e74\u590d\u5408\u589e\u957f\u76ee\u6807\u3002<\/p>\n

    \u73b0\u5728\u4e0a\u8f66\u8fd8\u6765\u5f97\u53ca\u5417\uff1f<\/h2>\n

    \u5c3d\u7ba1\u80a1\u4ef7\u5df2\u5927\u5e45\u4e0a\u6da8\uff0c\u4f46\u591a\u6570\u5206\u6790\u5e08\u8ba4\u4e3a\uff0cCouche-Tard\u7684\u884c\u60c5\u8fdc\u672a\u7ed3\u675f\u3002\u76ee\u524d\uff0c\u8be5\u80a1\u80a1\u4ef7\u62a582.95\u52a0\u5143\uff0c\u80a1\u606f\u7387\u867d\u7136\u53ea\u67091%\uff0c\u4f46\u5bf9\u4e8e\u4e00\u53ea\u6301\u7eed\u56de\u8d2d\u4e14\u589e\u957f\u8def\u5f84\u6e05\u6670\u7684\u6d88\u8d39\u5fc5\u9700\u54c1\u80a1\u7968\u800c\u8a00\uff0c\u80a1\u606f\u53ea\u662f\u9644\u52a0\u4ef7\u503c\u3002<\/p>\n

    \u5173\u952e\u5728\u4e8e\uff0c\u5e02\u573a\u521a\u521a\u5f00\u59cb\u7406\u89e3\u201cCore + More\u201d\u6218\u7565\u7684\u6f5c\u529b\u3002\u968f\u7740\u98df\u54c1\u4e1a\u52a1\u7684\u6301\u7eed\u5347\u7ea7\uff0c\u5e76\u8d2d\u5f39\u6027\u7684\u5b58\u5728\u4ee5\u53caAI\u63d0\u6548\u7684\u9010\u6b65\u843d\u5730\uff0cCouche-Tard\u6709\u671b\u5728\u672a\u6765\u6570\u5e74\u7ee7\u7eed\u4fdd\u6301\u7a33\u5065\u7684\u53cc\u4f4d\u6570\u589e\u957f\u3002\u5bf9\u4e8e\u9519\u8fc7\u5e74\u521d\u884c\u60c5\u7684\u6295\u8d44\u8005\u6765\u8bf4\uff0c\u5f53\u4e0b\u7684\u56de\u8c03\u6216\u8bb8\u6b63\u662f\u5e03\u5c40\u826f\u673a\u3002\u6bd5\u7adf\uff0c\u5728\u4fbf\u5229\u5e97\u8fd9\u4e2a\u770b\u4f3c\u4f20\u7edf\u7684\u884c\u4e1a\u91cc\uff0cCouche-Tard\u65e9\u5df2\u770b\u6e05\u4e86\u51b0\u7403\u4e0b\u4e00\u6b65\u7684\u65b9\u5411\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"

    \u57282025\u5e74\u51e0\u4e4e\u6a2a\u76d8\u4e00\u5e74\u540e\uff0c\u52a0\u62ff\u5927\u4fbf\u5229\u5e97\u5de8\u5934\u00a0Alimentation Couche-Tard (TSX:AT […]<\/p>\n","protected":false},"author":27,"featured_media":549821,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[1521,430],"tags":[2146,766,668,1859],"class_list":["post-620866","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-1521","category-trends-strategies-zh-hans","tag-2146","tag-766","tag-668","tag-1859","sectors-1602","locations-canada-zh-hans","exchange-tsx-zh-hans"],"acf":[],"_links":{"self":[{"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/posts\/620866","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/users\/27"}],"replies":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/comments?post=620866"}],"version-history":[{"count":3,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/posts\/620866\/revisions"}],"predecessor-version":[{"id":620869,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/posts\/620866\/revisions\/620869"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/media\/549821"}],"wp:attachment":[{"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/media?parent=620866"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/categories?post=620866"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/tags?post=620866"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}