{"id":620870,"date":"2026-02-17T22:32:38","date_gmt":"2026-02-18T06:32:38","guid":{"rendered":"https:\/\/nai500.com\/?p=620870"},"modified":"2026-02-17T22:32:38","modified_gmt":"2026-02-18T06:32:38","slug":"%e5%8a%a0%e6%8b%bf%e5%a4%a7%e4%be%bf%e5%88%a9%e5%ba%97%e5%b7%a8%e9%a0%ad%e4%bb%8a%e5%b9%b4%e6%bc%b2%e8%b6%8511%ef%bc%8c%e7%8f%be%e5%9c%a8%e4%b8%8a%e8%bb%8a%e9%82%84%e4%be%86%e5%be%97%e5%8f%8a%e5%97%8e","status":"publish","type":"post","link":"https:\/\/nai500.com\/zh-hant\/blog\/2026\/02\/%e5%8a%a0%e6%8b%bf%e5%a4%a7%e4%be%bf%e5%88%a9%e5%ba%97%e5%b7%a8%e9%a0%ad%e4%bb%8a%e5%b9%b4%e6%bc%b2%e8%b6%8511%ef%bc%8c%e7%8f%be%e5%9c%a8%e4%b8%8a%e8%bb%8a%e9%82%84%e4%be%86%e5%be%97%e5%8f%8a%e5%97%8e\/","title":{"rendered":"\u52a0\u62ff\u5927\u4fbf\u5229\u5e97\u5de8\u982d\u4eca\u5e74\u6f32\u8d8511%\uff0c\u73fe\u5728\u4e0a\u8eca\u9084\u4f86\u5f97\u53ca\u55ce\uff1f"},"content":{"rendered":"

\u57282025\u5e74\u5e7e\u4e4e\u6a6b\u76e4\u4e00\u5e74\u5f8c\uff0c\u52a0\u62ff\u5927\u4fbf\u5229\u5e97\u5de8\u982d\u00a0Alimentation Couche-Tard (TSX:ATD)<\/strong>\u00a0<\/a>\u57282026\u5e74\u521d\u8fce\u4f86\u7206\u767c\u3002\u622a\u81f32\u6708\u4e2d\u65ec\uff0c\u8a72\u80a1\u5e74\u5167\u7d2f\u8a08\u6f32\u5e45\u5df2\u8d85\u904e11%\u4e14\u6f32\u52e2\u7d72\u6beb\u6c92\u6709\u653e\u7de9\u7684\u8de1\u8c61\u3002\u96a8\u8457\u65b0CEO\u7684\u4e0a\u4efb\u548c\u201c\u6838\u5fc3+\u66f4\u591a\u201d\uff08Core + More\uff09\u6230\u7565\u7684\u767c\u4f48\uff0c\u5e02\u5834\u958b\u59cb\u91cd\u65b0\u5be9\u8996\u9019\u5bb6\u4f4e\u8abf\u5de8\u982d\u7684\u589e\u9577\u6f5b\u529b\u3002<\/p>\n

Couche-Tard\u80a1\u50f9\u7684\u7a81\u7136\u98c6\u5347\u4e26\u975e\u5076\u7136\u3002\u5728\u638c\u8235\u591a\u5e74\u7684\u5275\u59cb\u4eba\u5378\u4efb\u5f8c\uff0c\u65b0\u4efbCEO\u00a0Alex Miller\u00a0\u65bc2026\u5e742\u6708\u6b63\u5f0f\u516c\u4f48\u4e86\u516c\u53f8\u4e0b\u4e00\u968e\u6bb5\u7684\u6230\u7565\u898f\u5283\u3002Miller\u8868\u793a\uff1a\u201c\u9019\u4e00\u6230\u7565\u610f\u5473\u8457\u5c07\u6211\u5011\u7684\u898f\u6a21\u3001\u7db2\u7d61\u548c\u4eba\u624d\u7684\u5168\u9762\u529b\u91cf\u8f49\u5316\u70ba\u80a1\u6771\u66f4\u5927\u7684\u50f9\u503c\u3002\u201d<\/p>\n

\u904e\u53bb\uff0cCouche-Tard\u4e00\u76f4\u4ee5\u7a69\u5065\u7684\u4e26\u8cfc\u9a45\u52d5\u589e\u9577\u800c\u8457\u7a31\uff0c\u4f46\u80a1\u50f9\u8868\u73fe\u4e5f\u6642\u5e38\u56e0\u7f3a\u4e4f\u79d1\u6280\u60f3\u50cf\u7a7a\u9593\u800c\u88ab\u4f4e\u4f30\u3002\u5982\u4eca\uff0c\u6295\u8cc7\u8005\u4f3c\u4e4e\u958b\u59cb\u8a8d\u540c\u9019\u7a2e\u53ef\u9810\u6e2c\u7684\u201c\u4f4e\u79d1\u6280\u201d\u589e\u9577\u6a21\u5f0f\u7684\u50f9\u503c\u30022026\u5e74\u8fc4\u4eca\u7684\u4e0a\u6f32\uff0c\u6b63\u662f\u5e02\u5834\u7d66\u4e88\u7684\u91cd\u65b0\u8a55\u7d1a\u3002<\/p>\n

\u4e0d\u53ea\u662f\u52a0\u6cb9\u7ad9\uff1a\u98df\u54c1\u696d\u52d9\u8b93Circle K\u8b8a\u8eab\u201c\u98a8\u5473\u4e4b\u90fd\u201d<\/h2>\n

\u5982\u679c\u8aaa\u4e26\u8cfc\u662fCouche-Tard\u96a8\u6642\u53ef\u62c9\u7684\u201c\u589e\u9577\u6760\u6746\u201d\uff0c\u90a3\u9ebc\u98df\u54c1\u696d\u52d9\u7684\u5347\u7d1a\u5247\u662f\u672a\u4f86\u5341\u5e74\u7684\u5167\u751f\u589e\u9577\u5f15\u64ce\u3002\u516c\u53f8\u65e9\u5df2\u6d1e\u5bdf\u5230\u4fbf\u5229\u5e97\u884c\u696d\u7684\u672a\u4f86\u8da8\u52e2\u2014\u2014\u66f4\u50cf\u4e00\u5bb6\u9910\u5ef3\uff0c\u540c\u6642\u63d0\u4f9b\u4fbf\u5229\u7684\u96dc\u8ca8\u81ea\u63d0\u670d\u52d9\u3002\u8fd1\u5e74\u4f86\uff0cCouche-Tard\u4e00\u76f4\u5728\u52a0\u5f37\u98df\u54c1\u696d\u52d9\uff0c\u5176\u4e2d\u6700\u5f15\u4eba\u6ce8\u76ee\u7684\u7576\u5c6c\u8207\u660e\u661f\u5eda\u5e2b\u00a0Guy Fieri\u00a0\u5408\u4f5c\u5c07\u65d7\u4e0b\u7684\u00a0Circle K\u00a0\u9580\u5e97\u5e36\u5165\u4e86\u201c\u98a8\u5473\u4e4b\u90fd\u201d\uff08Flavortown\uff09\u3002<\/p>\n

\u5206\u6790\u5e2b\u8a8d\u70ba\uff0cCouche-Tard\u7684\u98df\u54c1\u696d\u52d9\u53ef\u4ee5\u8b8a\u5f97\u66f4\u52a0\u201c\u9910\u5ef3\u5316\u201d\uff0c\u7121\u8ad6\u662f\u63a8\u51fa\u73fe\u9ede\u73fe\u505a\u7684\u62ab\u85a9\uff0c\u9084\u662f\u6f5b\u8247\u5821\uff0c\u90fd\u6709\u5de8\u5927\u7684\u60f3\u50cf\u7a7a\u9593\u3002\u6191\u85c9\u5f37\u52c1\u7684\u8cc7\u7522\u8ca0\u50b5\u8868\uff08\u5c24\u5176\u662f\u5728\u672a\u80fd\u6536\u8cfc7-Eleven\u6bcd\u516c\u53f87&i Holdings\u4e4b\u5f8c\uff09\uff0c\u516c\u53f8\u5b8c\u5168\u6709\u80fd\u529b\u901a\u904e\u4e26\u8cfc\u7372\u5f97\u5408\u9069\u7684\u4eba\u624d\u548c\u6280\u8853\uff0c\u9032\u4e00\u6b65\u6df1\u8015\u71b1\u98df\u9818\u57df\u3002<\/p>\n

Couche-Tard\u76ee\u524d\u5e02\u503c\u5df2\u9054768\u5104\u52a0\u5143\uff0c\u662f\u5168\u7403\u4fbf\u5229\u5e97\u884c\u696d\u7684\u9818\u5c0e\u8005\u3002\u516c\u53f8\u64c1\u6709\u5145\u8db3\u7684\u8ca1\u52d9\u706b\u529b\uff0c\u4f46\u7ba1\u7406\u5c64\u8868\u793a\u5c07\u7cbe\u6311\u7d30\u9078\uff0c\u5728\u5408\u9069\u7684\u6642\u6a5f\u6263\u52d5\u6273\u6a5f\u3002\u76ee\u524d\uff0c\u5206\u6790\u5e2b\u666e\u904d\u9810\u671f\u516c\u53f8\u6703\u5728\u6b50\u6d32\u9032\u884c\u4e00\u4e9b\u201c\u88dc\u5f37\u5f0f\u201d\u7684\u6536\u8cfc\uff08bolt-on deals\uff09\uff0c\u4ee5\u978f\u56fa\u5176\u5168\u7403\u4f48\u5c40\u3002\u4f46\u5728\u7f8e\u570b\u672c\u571f\uff0c\u6536\u8cfc\u50cfSheetz\u9019\u6a23\u6ce8\u91cd\u98df\u54c1\u54c1\u8cea\u7684\u5340\u57df\u9023\u9396\u6216\u8a31\u80fd\u5e36\u4f86\u66f4\u5927\u7684\u5354\u540c\u6548\u61c9\u3002\u6b64\u5916\uff0c\u4e5f\u4e0d\u6392\u9664\u672a\u4f86\u518d\u6b21\u5617\u8a66\u9032\u5165\u96dc\u8ca8\u6216\u9910\u98f2\u884c\u696d\u7684\u53ef\u80fd\u6027\u3002<\/p>\n

\u5728\u7b49\u5f85\u5927\u4ea4\u6613\u7684\u9593\u9699\uff0cCouche-Tard\u4e5f\u5728\u7a4d\u6975\u90e8\u7f72\u8cc7\u672c\uff1a<\/p>\n

    \n
  • \u80a1\u7968\u56de\u8cfc<\/strong>\uff1a\u5229\u7528\u5f37\u5927\u7684\u73fe\u91d1\u6d41\u9032\u884c\u56de\u8cfc\uff0c\u652f\u6490\u80a1\u50f9\u3002<\/li>\n
  • \u6709\u6a5f\u589e\u9577<\/strong>\uff1a\u6295\u8cc7\u65b0\u5efa\u9580\u5e97\uff08new-to-industry builds\uff09\u3002<\/li>\n
  • \u4f9b\u61c9\u93c8\u5347\u7d1a<\/strong>\uff1a\u672a\u4f86\u4e94\u5e74\u901a\u904eAI\u548c\u6a5f\u5668\u4eba\u6280\u8853\u63d0\u5347\u4f9b\u61c9\u93c8\u6548\u7387\uff0c\u91cb\u653e\u66f4\u591a\u5229\u6f64\u7a7a\u9593\u3002<\/li>\n<\/ul>\n

    \u8ca1\u52d9\u6578\u64da\u986f\u793a\uff0c\u516c\u53f82026\u8ca1\u5e74\u9810\u671f\u81ea\u7531\u73fe\u91d1\u6d41\u5c07\u8d85\u904e25\u5104\u7f8e\u5143\u3002\u7ba1\u7406\u5c64\u66f4\u662f\u8a2d\u5b9a\u4e86\u52302030\u8ca1\u5e74\uff0c\u8abf\u6574\u5f8cEBITDA\u5be6\u73fe6%\u81f38%\u7684\u5e74\u8907\u5408\u589e\u9577\u76ee\u6a19\u3002<\/p>\n

    \u73fe\u5728\u4e0a\u8eca\u9084\u4f86\u5f97\u53ca\u55ce\uff1f<\/h2>\n

    \u5118\u7ba1\u80a1\u50f9\u5df2\u5927\u5e45\u4e0a\u6f32\uff0c\u4f46\u591a\u6578\u5206\u6790\u5e2b\u8a8d\u70ba\uff0cCouche-Tard\u7684\u884c\u60c5\u9060\u672a\u7d50\u675f\u3002\u76ee\u524d\uff0c\u8a72\u80a1\u80a1\u50f9\u583182.95\u52a0\u5143\uff0c\u80a1\u606f\u7387\u96d6\u7136\u53ea\u67091%\uff0c\u4f46\u5c0d\u65bc\u4e00\u96bb\u6301\u7e8c\u56de\u8cfc\u4e14\u589e\u9577\u8def\u5f91\u6e05\u6670\u7684\u6d88\u8cbb\u5fc5\u9700\u54c1\u80a1\u7968\u800c\u8a00\uff0c\u80a1\u606f\u53ea\u662f\u9644\u52a0\u50f9\u503c\u3002<\/p>\n

    \u95dc\u9375\u5728\u65bc\uff0c\u5e02\u5834\u525b\u525b\u958b\u59cb\u7406\u89e3\u201cCore + More\u201d\u6230\u7565\u7684\u6f5b\u529b\u3002\u96a8\u8457\u98df\u54c1\u696d\u52d9\u7684\u6301\u7e8c\u5347\u7d1a\uff0c\u4e26\u8cfc\u5f48\u6027\u7684\u5b58\u5728\u4ee5\u53caAI\u63d0\u6548\u7684\u9010\u6b65\u843d\u5730\uff0cCouche-Tard\u6709\u671b\u5728\u672a\u4f86\u6578\u5e74\u7e7c\u7e8c\u4fdd\u6301\u7a69\u5065\u7684\u96d9\u4f4d\u6578\u589e\u9577\u3002\u5c0d\u65bc\u932f\u904e\u5e74\u521d\u884c\u60c5\u7684\u6295\u8cc7\u8005\u4f86\u8aaa\uff0c\u7576\u4e0b\u7684\u56de\u8abf\u6216\u8a31\u6b63\u662f\u4f48\u5c40\u826f\u6a5f\u3002\u7562\u7adf\uff0c\u5728\u4fbf\u5229\u5e97\u9019\u500b\u770b\u4f3c\u50b3\u7d71\u7684\u884c\u696d\u88e1\uff0cCouche-Tard\u65e9\u5df2\u770b\u6e05\u4e86\u51b0\u7403\u4e0b\u4e00\u6b65\u7684\u65b9\u5411\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"

    \u57282025\u5e74\u5e7e\u4e4e\u6a6b\u76e4\u4e00\u5e74\u5f8c\uff0c\u52a0\u62ff\u5927\u4fbf\u5229\u5e97\u5de8\u982d\u00a0Alimentation Couche-Tard (TSX:AT […]<\/p>\n","protected":false},"author":27,"featured_media":549822,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[1522,431],"tags":[793,2147,2177,1860],"class_list":{"0":"post-620870","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-1522","8":"category-trends-strategies-zh-hant","9":"tag-793","10":"tag--zh-hant","11":"tag-2177","13":"sectors--zh-hant","14":"locations-canada-zh-hant","15":"exchange-tsx-zh-hant"},"acf":[],"_links":{"self":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts\/620870","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/users\/27"}],"replies":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/comments?post=620870"}],"version-history":[{"count":3,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts\/620870\/revisions"}],"predecessor-version":[{"id":620873,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts\/620870\/revisions\/620873"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/media\/549822"}],"wp:attachment":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/media?parent=620870"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/categories?post=620870"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/tags?post=620870"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}