vs
豪瑞（AMRZ）与CARVANA CO.（CVNA）财务数据对比。点击上方公司名可切换其他公司
CARVANA CO.的季度营收约是豪瑞的1.5倍（$5.6B vs $3.7B），CARVANA CO.净利率更高（15.3% vs 14.8%，领先0.5%），CARVANA CO.同比增速更快（58.0% vs 6.6%），豪瑞自由现金流更多（$669.0M vs $379.0M）
豪瑞是总部位于瑞士的全球领先建筑材料及骨料供应商，为豪瑞集团旗下核心业务板块。原公司于2015年7月10日与拉法基合并组建拉法基豪瑞，2021年正式更名为豪瑞集团，合并完成后豪瑞品牌仍在集团内正常运营。
Carvana Co.是总部位于美国亚利桑那州坦佩市的线上二手车零售企业，主打线上一站式购车服务，2021年成功入选《财富》500强榜单，是该榜单有史以来最年轻的上榜企业之一。
AMRZ vs CVNA — 直观对比
营收规模更大
CVNA
是对方的1.5倍
$3.7B
营收增速更快
CVNA
高出51.3%
6.6%
净利率更高
CVNA
高出0.5%
14.8%
自由现金流更多
AMRZ
多$290.0M
$379.0M
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.7B | $5.6B |
| 净利润 | $545.0M | $857.0M |
| 毛利率 | 29.6% | 18.8% |
| 营业利润率 | 21.2% | 7.6% |
| 净利率 | 14.8% | 15.3% |
| 营收同比 | 6.6% | 58.0% |
| 净利润同比 | -1.4% | 984.8% |
| 每股收益（稀释后） | $0.98 | — |
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AMRZCVNA
| Q4 25 | — | $5.6B | ||
| Q3 25 | $3.7B | $5.6B | ||
| Q2 25 | $3.2B | $4.8B | ||
| Q1 25 | — | $4.2B | ||
| Q4 24 | — | $3.5B | ||
| Q3 24 | $3.4B | $3.7B | ||
| Q2 24 | $3.2B | $3.4B | ||
| Q1 24 | — | $3.1B |
净利润AMRZCVNA
| Q4 25 | — | $857.0M | ||
| Q3 25 | $545.0M | $151.0M | ||
| Q2 25 | $429.0M | $183.0M | ||
| Q1 25 | — | $216.0M | ||
| Q4 24 | — | $79.0M | ||
| Q3 24 | $553.0M | $85.0M | ||
| Q2 24 | $474.0M | $18.0M | ||
| Q1 24 | — | $28.0M |
毛利率AMRZCVNA
| Q4 25 | — | 18.8% | ||
| Q3 25 | 29.6% | 20.3% | ||
| Q2 25 | 30.0% | 22.0% | ||
| Q1 25 | — | 22.0% | ||
| Q4 24 | — | 21.5% | ||
| Q3 24 | 30.2% | 22.1% | ||
| Q2 24 | 30.2% | 21.0% | ||
| Q1 24 | — | 19.3% |
营业利润率AMRZCVNA
| Q4 25 | — | 7.6% | ||
| Q3 25 | 21.2% | 9.8% | ||
| Q2 25 | 20.8% | 10.6% | ||
| Q1 25 | — | 9.3% | ||
| Q4 24 | — | 7.3% | ||
| Q3 24 | 24.5% | 9.2% | ||
| Q2 24 | 23.3% | 7.6% | ||
| Q1 24 | — | 4.4% |
净利率AMRZCVNA
| Q4 25 | — | 15.3% | ||
| Q3 25 | 14.8% | 2.7% | ||
| Q2 25 | 13.3% | 3.8% | ||
| Q1 25 | — | 5.1% | ||
| Q4 24 | — | 2.2% | ||
| Q3 24 | 16.0% | 2.3% | ||
| Q2 24 | 14.6% | 0.5% | ||
| Q1 24 | — | 0.9% |
每股收益（稀释后）AMRZCVNA
| Q4 25 | — | — | ||
| Q3 25 | $0.98 | — | ||
| Q2 25 | $0.78 | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $1.00 | — | ||
| Q2 24 | $0.86 | — | ||
| Q1 24 | — | $0.24 |
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 | $826.0M | $2.3B |
| 总债务越低越好 | — | $4.9B |
| 股东权益账面价值 | $12.9B | $3.4B |
| 总资产 | $24.0B | $13.2B |
| 负债/权益比越低杠杆越低 | — | 1.43× |
8季度趋势，按日历期对齐
现金及短期投资AMRZCVNA
| Q4 25 | — | $2.3B | ||
| Q3 25 | $826.0M | $2.1B | ||
| Q2 25 | $601.0M | $1.9B | ||
| Q1 25 | — | $1.9B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | — | $871.0M | ||
| Q2 24 | — | $542.0M | ||
| Q1 24 | — | $252.0M |
总债务AMRZCVNA
| Q4 25 | — | $4.9B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $5.3B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益AMRZCVNA
| Q4 25 | — | $3.4B | ||
| Q3 25 | $12.9B | $2.3B | ||
| Q2 25 | $12.4B | $1.7B | ||
| Q1 25 | — | $1.5B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | $9.8B | $611.0M | ||
| Q2 24 | $9.3B | $526.0M | ||
| Q1 24 | — | $289.0M |
总资产AMRZCVNA
| Q4 25 | — | $13.2B | ||
| Q3 25 | $24.0B | $9.9B | ||
| Q2 25 | $23.8B | $9.4B | ||
| Q1 25 | — | $8.9B | ||
| Q4 24 | — | $8.5B | ||
| Q3 24 | — | $7.4B | ||
| Q2 24 | — | $7.2B | ||
| Q1 24 | — | $7.0B |
负债/权益比AMRZCVNA
| Q4 25 | — | 1.43× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 4.20× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $854.0M | $430.0M |
| 自由现金流经营现金流 - 资本支出 | $669.0M | $379.0M |
| 自由现金流率自由现金流/营收 | 18.2% | 6.8% |
| 资本支出强度资本支出/营收 | 5.0% | 0.9% |
| 现金转化率经营现金流/净利润 | 1.57× | 0.50× |
| 过去12个月自由现金流最近4个季度 | — | $889.0M |
8季度趋势，按日历期对齐
经营现金流AMRZCVNA
| Q4 25 | — | $430.0M | ||
| Q3 25 | $854.0M | $345.0M | ||
| Q2 25 | — | $29.0M | ||
| Q1 25 | — | $232.0M | ||
| Q4 24 | — | $60.0M | ||
| Q3 24 | — | $403.0M | ||
| Q2 24 | — | $354.0M | ||
| Q1 24 | — | $101.0M |
自由现金流AMRZCVNA
| Q4 25 | — | $379.0M | ||
| Q3 25 | $669.0M | $307.0M | ||
| Q2 25 | — | $-2.0M | ||
| Q1 25 | — | $205.0M | ||
| Q4 24 | — | $36.0M | ||
| Q3 24 | — | $376.0M | ||
| Q2 24 | — | $332.0M | ||
| Q1 24 | — | $83.0M |
自由现金流率AMRZCVNA
| Q4 25 | — | 6.8% | ||
| Q3 25 | 18.2% | 5.4% | ||
| Q2 25 | — | -0.0% | ||
| Q1 25 | — | 4.8% | ||
| Q4 24 | — | 1.0% | ||
| Q3 24 | — | 10.3% | ||
| Q2 24 | — | 9.7% | ||
| Q1 24 | — | 2.7% |
资本支出强度AMRZCVNA
| Q4 25 | — | 0.9% | ||
| Q3 25 | 5.0% | 0.7% | ||
| Q2 25 | — | 0.6% | ||
| Q1 25 | — | 0.6% | ||
| Q4 24 | — | 0.7% | ||
| Q3 24 | — | 0.7% | ||
| Q2 24 | — | 0.6% | ||
| Q1 24 | — | 0.6% |
现金转化率AMRZCVNA
| Q4 25 | — | 0.50× | ||
| Q3 25 | 1.57× | 2.28× | ||
| Q2 25 | — | 0.16× | ||
| Q1 25 | — | 1.07× | ||
| Q4 24 | — | 0.76× | ||
| Q3 24 | — | 4.74× | ||
| Q2 24 | — | 19.67× | ||
| Q1 24 | — | 3.61× |
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
AMRZ
| Building Materials | $2.8B | 75% |
| Building Envelope | $901.0M | 25% |
| Equity Method Investee | $5.0M | 0% |
CVNA
| Used Vehicle Sales | $4.2B | 74% |
| Wholesale Sales And Revenues | $988.0M | 18% |
| Other | $459.0M | 8% |
