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亚马逊（AMZN）与Churchill Downs Inc（CHDN）财务数据对比。点击上方公司名可切换其他公司
亚马逊的季度营收约是Churchill Downs Inc的321.8倍（$213.4B vs $663.0M）。Churchill Downs Inc净利率更高（12.5% vs 9.9%，领先2.6%）。亚马逊同比增速更快（13.6% vs 3.1%）。过去两年亚马逊的营收复合增速更高（22.0% vs -13.7%）
亚马逊是全球知名的综合电商与科技企业，业务覆盖北美及全球多个地区，设有北美零售、国际零售、亚马逊云科技（AWS）三大业务板块。除运营线上线下零售渠道、提供消费商品售卖与订阅服务外，也为第三方卖家提供销售平台，还自主研发销售Kindle、Fire平板等电子设备。
丘吉尔唐斯股份有限公司是丘吉尔唐斯赛马场的母公司，起家于美国肯塔基州路易斯维尔的单一赛马场，现已发展为业务覆盖美国多州的上市企业，旗下拥有赛马场、赌场、线上投注平台等多元业务板块。
AMZN vs CHDN — 直观对比
营收规模更大
AMZN
是对方的321.8倍
$663.0M
营收增速更快
AMZN
高出10.5%
3.1%
净利率更高
CHDN
高出2.6%
9.9%
两年增速更快
AMZN
近两年复合增速
-13.7%
损益表 — Q4 2025 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $213.4B | $663.0M |
| 净利润 | $21.2B | $83.0M |
| 毛利率 | 48.5% | — |
| 营业利润率 | 11.7% | 21.6% |
| 净利率 | 9.9% | 12.5% |
| 营收同比 | 13.6% | 3.1% |
| 净利润同比 | 5.9% | 7.8% |
| 每股收益（稀释后） | $1.95 | $1.16 |
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AMZNCHDN
| Q1 26 | — | $663.0M | ||
| Q4 25 | $213.4B | $665.9M | ||
| Q3 25 | $180.2B | $683.0M | ||
| Q2 25 | $167.7B | $934.4M | ||
| Q1 25 | $155.7B | $642.6M | ||
| Q4 24 | $187.8B | $624.2M | ||
| Q3 24 | $158.9B | $628.5M | ||
| Q2 24 | $148.0B | $890.7M |
净利润AMZNCHDN
| Q1 26 | — | $83.0M | ||
| Q4 25 | $21.2B | $51.3M | ||
| Q3 25 | $21.2B | $38.1M | ||
| Q2 25 | $18.2B | $216.9M | ||
| Q1 25 | $17.1B | $76.7M | ||
| Q4 24 | $20.0B | $71.7M | ||
| Q3 24 | $15.3B | $65.4M | ||
| Q2 24 | $13.5B | $209.3M |
毛利率AMZNCHDN
| Q1 26 | — | — | ||
| Q4 25 | 48.5% | — | ||
| Q3 25 | 50.8% | — | ||
| Q2 25 | 51.8% | — | ||
| Q1 25 | 50.6% | — | ||
| Q4 24 | 47.3% | — | ||
| Q3 24 | 49.0% | — | ||
| Q2 24 | 50.1% | — |
营业利润率AMZNCHDN
| Q1 26 | — | 21.6% | ||
| Q4 25 | 11.7% | 18.5% | ||
| Q3 25 | 9.7% | 14.3% | ||
| Q2 25 | 11.4% | 35.1% | ||
| Q1 25 | 11.8% | 20.9% | ||
| Q4 24 | 11.3% | 20.3% | ||
| Q3 24 | 11.0% | 20.0% | ||
| Q2 24 | 9.9% | 37.0% |
净利率AMZNCHDN
| Q1 26 | — | 12.5% | ||
| Q4 25 | 9.9% | 7.7% | ||
| Q3 25 | 11.8% | 5.6% | ||
| Q2 25 | 10.8% | 23.2% | ||
| Q1 25 | 11.0% | 11.9% | ||
| Q4 24 | 10.7% | 11.5% | ||
| Q3 24 | 9.6% | 10.4% | ||
| Q2 24 | 9.1% | 23.5% |
每股收益（稀释后）AMZNCHDN
| Q1 26 | — | $1.16 | ||
| Q4 25 | $1.95 | — | ||
| Q3 25 | $1.95 | — | ||
| Q2 25 | $1.68 | — | ||
| Q1 25 | $1.59 | — | ||
| Q4 24 | $1.86 | — | ||
| Q3 24 | $1.43 | — | ||
| Q2 24 | $1.26 | — |
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 | $123.0B | $200.0M |
| 总债务越低越好 | $68.8B | $840.0M |
| 股东权益账面价值 | $411.1B | — |
| 总资产 | $818.0B | $7.5B |
| 负债/权益比越低杠杆越低 | 0.17× | — |
8季度趋势，按日历期对齐
现金及短期投资AMZNCHDN
| Q1 26 | — | $200.0M | ||
| Q4 25 | $123.0B | $200.6M | ||
| Q3 25 | $94.2B | $180.5M | ||
| Q2 25 | $93.2B | $182.4M | ||
| Q1 25 | $94.6B | $174.2M | ||
| Q4 24 | $101.2B | $175.5M | ||
| Q3 24 | $88.1B | $152.7M | ||
| Q2 24 | $89.1B | $140.3M |
总债务AMZNCHDN
| Q1 26 | — | $840.0M | ||
| Q4 25 | $68.8B | — | ||
| Q3 25 | $55.1B | — | ||
| Q2 25 | $56.1B | — | ||
| Q1 25 | $58.8B | — | ||
| Q4 24 | $58.0B | — | ||
| Q3 24 | $60.5B | — | ||
| Q2 24 | $62.7B | — |
股东权益AMZNCHDN
| Q1 26 | — | — | ||
| Q4 25 | $411.1B | $1.0B | ||
| Q3 25 | $369.6B | $1.0B | ||
| Q2 25 | $333.8B | $1.0B | ||
| Q1 25 | $305.9B | $1.1B | ||
| Q4 24 | $286.0B | $1.1B | ||
| Q3 24 | $259.2B | $1.1B | ||
| Q2 24 | $236.4B | $1.0B |
总资产AMZNCHDN
| Q1 26 | — | $7.5B | ||
| Q4 25 | $818.0B | $7.5B | ||
| Q3 25 | $727.9B | $7.5B | ||
| Q2 25 | $682.2B | $7.4B | ||
| Q1 25 | $643.3B | $7.3B | ||
| Q4 24 | $624.9B | $7.3B | ||
| Q3 24 | $584.6B | $7.2B | ||
| Q2 24 | $554.8B | $7.2B |
负债/权益比AMZNCHDN
| Q1 26 | — | — | ||
| Q4 25 | 0.17× | — | ||
| Q3 25 | 0.15× | — | ||
| Q2 25 | 0.17× | — | ||
| Q1 25 | 0.19× | — | ||
| Q4 24 | 0.20× | — | ||
| Q3 24 | 0.23× | — | ||
| Q2 24 | 0.27× | — |
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 | $54.5B | $295.0M |
| 自由现金流经营现金流 - 资本支出 | $14.9B | — |
| 自由现金流率自由现金流/营收 | 7.0% | — |
| 资本支出强度资本支出/营收 | 18.5% | — |
| 现金转化率经营现金流/净利润 | 2.57× | 3.55× |
| 过去12个月自由现金流最近4个季度 | $7.7B | — |
8季度趋势，按日历期对齐
经营现金流AMZNCHDN
| Q1 26 | — | $295.0M | ||
| Q4 25 | $54.5B | — | ||
| Q3 25 | $35.5B | $187.7M | ||
| Q2 25 | $32.5B | — | ||
| Q1 25 | $17.0B | $246.5M | ||
| Q4 24 | $45.6B | — | ||
| Q3 24 | $26.0B | $169.4M | ||
| Q2 24 | $25.3B | — |
自由现金流AMZNCHDN
| Q1 26 | — | — | ||
| Q4 25 | $14.9B | — | ||
| Q3 25 | $430.0M | $166.3M | ||
| Q2 25 | $332.0M | — | ||
| Q1 25 | $-8.0B | $233.9M | ||
| Q4 24 | $17.8B | — | ||
| Q3 24 | $3.4B | $154.4M | ||
| Q2 24 | $7.7B | — |
自由现金流率AMZNCHDN
| Q1 26 | — | — | ||
| Q4 25 | 7.0% | — | ||
| Q3 25 | 0.2% | 24.3% | ||
| Q2 25 | 0.2% | — | ||
| Q1 25 | -5.1% | 36.4% | ||
| Q4 24 | 9.5% | — | ||
| Q3 24 | 2.1% | 24.6% | ||
| Q2 24 | 5.2% | — |
资本支出强度AMZNCHDN
| Q1 26 | — | — | ||
| Q4 25 | 18.5% | 2.6% | ||
| Q3 25 | 19.5% | 3.1% | ||
| Q2 25 | 19.2% | 2.0% | ||
| Q1 25 | 16.1% | 2.0% | ||
| Q4 24 | 14.8% | 5.4% | ||
| Q3 24 | 14.2% | 2.4% | ||
| Q2 24 | 11.9% | 2.5% |
现金转化率AMZNCHDN
| Q1 26 | — | 3.55× | ||
| Q4 25 | 2.57× | — | ||
| Q3 25 | 1.68× | 4.93× | ||
| Q2 25 | 1.79× | — | ||
| Q1 25 | 0.99× | 3.21× | ||
| Q4 24 | 2.28× | — | ||
| Q3 24 | 1.69× | 2.59× | ||
| Q2 24 | 1.87× | — |
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
AMZN
| Products | $90.0B | 42% |
| Third Party Seller Services | $52.8B | 25% |
| Other | $49.9B | 23% |
| Subscription Services | $13.1B | 6% |
| Physical Stores | $5.9B | 3% |
| Other Services | $1.7B | 1% |
CHDN
| Live and Historical Racing | $297.0M | 45% |
| Gaming | $257.0M | 39% |
| Wagering Services and Solutions | $109.0M | 16% |
