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ACV Auctions Inc.（ACVA）与万事达卡（MA）财务数据对比。点击上方公司名可切换其他公司
万事达卡的季度营收约是ACV Auctions Inc.的48.0倍（$8.8B vs $183.6M）。万事达卡同比增速更快（17.6% vs 15.1%）。万事达卡自由现金流更多（$4.9B vs $-14.7M）。过去两年万事达卡的营收复合增速更高（17.8% vs 12.3%）
ACV Auctions Inc.是北美领先的数字化二手车批发拍卖平台，主要服务美加两地汽车经销商，提供车辆透明检测、安全支付、物流配送等全链条服务，助力注册批发买卖双方无需线下到场即可高效完成二手车交易。
万事达卡是总部位于美国纽约帕切斯的跨国支付卡服务企业，核心业务为处理商户收单银行与持卡人发卡机构之间的支付交易，同时提供旗下品牌借记卡、信用卡、预付卡及相关配套支付服务，服务网络覆盖全球，于2006年公开上市。
ACVA vs MA — 直观对比
营收规模更大
MA
是对方的48.0倍
$183.6M
营收增速更快
MA
高出2.5%
15.1%
自由现金流更多
MA
多$4.9B
$-14.7M
两年增速更快
MA
近两年复合增速
12.3%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $183.6M | $8.8B |
| 净利润 | — | $4.1B |
| 毛利率 | — | — |
| 营业利润率 | -9.7% | 55.8% |
| 净利率 | — | 46.1% |
| 营收同比 | 15.1% | 17.6% |
| 净利润同比 | — | 21.5% |
| 每股收益（稀释后） | $-0.12 | $4.52 |
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ACVAMA
| Q4 25 | $183.6M | $8.8B | ||
| Q3 25 | $199.6M | $8.6B | ||
| Q2 25 | $193.7M | $8.1B | ||
| Q1 25 | $182.7M | $7.3B | ||
| Q4 24 | $159.5M | $7.5B | ||
| Q3 24 | $171.3M | $7.4B | ||
| Q2 24 | $160.6M | $7.0B | ||
| Q1 24 | $145.7M | $6.3B |
净利润ACVAMA
| Q4 25 | — | $4.1B | ||
| Q3 25 | $-24.5M | $3.9B | ||
| Q2 25 | $-7.3M | $3.7B | ||
| Q1 25 | $-14.8M | $3.3B | ||
| Q4 24 | — | $3.3B | ||
| Q3 24 | $-16.0M | $3.3B | ||
| Q2 24 | $-17.1M | $3.3B | ||
| Q1 24 | $-20.5M | $3.0B |
营业利润率ACVAMA
| Q4 25 | -9.7% | 55.8% | ||
| Q3 25 | -11.9% | 58.8% | ||
| Q2 25 | -3.7% | 58.7% | ||
| Q1 25 | -7.9% | 57.2% | ||
| Q4 24 | -16.2% | 52.6% | ||
| Q3 24 | -10.0% | 54.3% | ||
| Q2 24 | -11.6% | 58.0% | ||
| Q1 24 | -15.5% | 56.8% |
净利率ACVAMA
| Q4 25 | — | 46.1% | ||
| Q3 25 | -12.3% | 45.7% | ||
| Q2 25 | -3.8% | 45.5% | ||
| Q1 25 | -8.1% | 45.2% | ||
| Q4 24 | — | 44.6% | ||
| Q3 24 | -9.4% | 44.3% | ||
| Q2 24 | -10.6% | 46.8% | ||
| Q1 24 | -14.1% | 47.4% |
每股收益（稀释后）ACVAMA
| Q4 25 | $-0.12 | $4.52 | ||
| Q3 25 | $-0.14 | $4.34 | ||
| Q2 25 | $-0.04 | $4.07 | ||
| Q1 25 | $-0.09 | $3.59 | ||
| Q4 24 | $-0.15 | $3.64 | ||
| Q3 24 | $-0.10 | $3.53 | ||
| Q2 24 | $-0.10 | $3.50 | ||
| Q1 24 | $-0.13 | $3.22 |
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 | $271.5M | $10.6B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $429.7M | $7.7B |
| 总资产 | $1.1B | $54.2B |
| 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ACVAMA
| Q4 25 | $271.5M | $10.6B | ||
| Q3 25 | $265.3M | $10.3B | ||
| Q2 25 | $258.4M | $9.0B | ||
| Q1 25 | $291.9M | $7.6B | ||
| Q4 24 | $224.1M | $8.4B | ||
| Q3 24 | $252.5M | $11.1B | ||
| Q2 24 | $215.0M | $7.0B | ||
| Q1 24 | $209.8M | $7.3B |
股东权益ACVAMA
| Q4 25 | $429.7M | $7.7B | ||
| Q3 25 | $434.4M | $7.9B | ||
| Q2 25 | $448.8M | $7.9B | ||
| Q1 25 | $439.6M | $6.7B | ||
| Q4 24 | $440.0M | $6.5B | ||
| Q3 24 | $456.2M | $7.4B | ||
| Q2 24 | $457.6M | $7.4B | ||
| Q1 24 | $458.3M | $7.2B |
总资产ACVAMA
| Q4 25 | $1.1B | $54.2B | ||
| Q3 25 | $1.2B | $53.3B | ||
| Q2 25 | $1.1B | $51.4B | ||
| Q1 25 | $1.2B | $48.5B | ||
| Q4 24 | $984.1M | $48.1B | ||
| Q3 24 | $1.0B | $47.2B | ||
| Q2 24 | $1.0B | $42.3B | ||
| Q1 24 | $1.0B | $42.6B |
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 | $-12.4M | $5.0B |
| 自由现金流经营现金流 - 资本支出 | $-14.7M | $4.9B |
| 自由现金流率自由现金流/营收 | -8.0% | 55.5% |
| 资本支出强度资本支出/营收 | 1.2% | 1.3% |
| 现金转化率经营现金流/净利润 | — | 1.23× |
| 过去12个月自由现金流最近4个季度 | $69.1M | $17.2B |
8季度趋势，按日历期对齐
经营现金流ACVAMA
| Q4 25 | $-12.4M | $5.0B | ||
| Q3 25 | $10.3M | $5.7B | ||
| Q2 25 | $13.7M | $4.6B | ||
| Q1 25 | $66.6M | $2.4B | ||
| Q4 24 | $-3.2M | $4.8B | ||
| Q3 24 | $21.1M | $5.1B | ||
| Q2 24 | $4.5M | $3.1B | ||
| Q1 24 | $43.0M | $1.7B |
自由现金流ACVAMA
| Q4 25 | $-14.7M | $4.9B | ||
| Q3 25 | $7.7M | $5.5B | ||
| Q2 25 | $10.9M | $4.6B | ||
| Q1 25 | $65.3M | $2.2B | ||
| Q4 24 | $-3.9M | $4.7B | ||
| Q3 24 | $20.2M | $5.0B | ||
| Q2 24 | $2.7M | $3.0B | ||
| Q1 24 | $41.9M | $1.5B |
自由现金流率ACVAMA
| Q4 25 | -8.0% | 55.5% | ||
| Q3 25 | 3.8% | 63.8% | ||
| Q2 25 | 5.6% | 56.1% | ||
| Q1 25 | 35.7% | 30.6% | ||
| Q4 24 | -2.5% | 63.3% | ||
| Q3 24 | 11.8% | 68.2% | ||
| Q2 24 | 1.7% | 43.4% | ||
| Q1 24 | 28.8% | 23.9% |
资本支出强度ACVAMA
| Q4 25 | 1.2% | 1.3% | ||
| Q3 25 | 1.3% | 2.1% | ||
| Q2 25 | 1.5% | 0.5% | ||
| Q1 25 | 0.7% | 2.2% | ||
| Q4 24 | 0.4% | 1.3% | ||
| Q3 24 | 0.6% | 1.5% | ||
| Q2 24 | 1.1% | 1.7% | ||
| Q1 24 | 0.7% | 2.5% |
现金转化率ACVAMA
| Q4 25 | — | 1.23× | ||
| Q3 25 | — | 1.44× | ||
| Q2 25 | — | 1.24× | ||
| Q1 25 | — | 0.73× | ||
| Q4 24 | — | 1.45× | ||
| Q3 24 | — | 1.57× | ||
| Q2 24 | — | 0.96× | ||
| Q1 24 | — | 0.56× |
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
ACVA
| Auction Marketplace Revenue | $77.6M | 42% |
| Other Marketplace Revenue | $72.4M | 39% |
| Customer Assurance | $24.1M | 13% |
| Data Services Revenue | $9.4M | 5% |
MA
| Payment Network | $4.9B | 56% |
| Value Added Services And Solutions | $3.9B | 44% |
