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AUTONATION, INC.（AN）与世邦魏理仕（CBRE）财务数据对比。点击上方公司名可切换其他公司
世邦魏理仕的季度营收约是AUTONATION, INC.的1.7倍（$11.5B vs $6.9B），世邦魏理仕净利率更高（3.6% vs 2.5%，领先1.1%），世邦魏理仕同比增速更快（12.3% vs -3.9%），世邦魏理仕自由现金流更多（$1.1B vs $64.2M），过去两年世邦魏理仕的营收复合增速更高（21.1% vs 3.4%）
AutoNation是总部位于美国佛罗里达州劳德代尔堡的汽车零售企业，1996年由韦恩·休伊森创立，最初仅拥有12家门店，目前在全美运营超300个零售网点，提供新车、二手车销售及相关配套服务。
世邦魏理仕（CBRE Group）是全球领先的跨国商业地产服务与投资企业，业务涵盖物业顾问、交易撮合、资产管理、项目开发咨询等范畴，为全球各类企业及机构客户提供全链条不动产相关解决方案，服务网络覆盖全球各大主要城市。
AN vs CBRE — 直观对比
营收规模更大
CBRE
是对方的1.7倍
$6.9B
营收增速更快
CBRE
高出16.2%
-3.9%
净利率更高
CBRE
高出1.1%
2.5%
自由现金流更多
CBRE
多$1.0B
$64.2M
两年增速更快
CBRE
近两年复合增速
3.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $6.9B | $11.5B |
| 净利润 | $172.1M | $416.0M |
| 毛利率 | 17.5% | 17.3% |
| 营业利润率 | 4.5% | 5.4% |
| 净利率 | 2.5% | 3.6% |
| 营收同比 | -3.9% | 12.3% |
| 净利润同比 | -7.5% | -14.6% |
| 每股收益（稀释后） | $4.68 | $1.38 |
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ANCBRE
| Q4 25 | $6.9B | $11.5B | ||
| Q3 25 | $7.0B | $10.1B | ||
| Q2 25 | $7.0B | $9.6B | ||
| Q1 25 | $6.7B | $8.8B | ||
| Q4 24 | $7.2B | $10.2B | ||
| Q3 24 | $6.6B | $8.8B | ||
| Q2 24 | $6.5B | $8.2B | ||
| Q1 24 | $6.5B | $7.8B |
净利润ANCBRE
| Q4 25 | $172.1M | $416.0M | ||
| Q3 25 | $215.1M | $363.0M | ||
| Q2 25 | $86.4M | $215.0M | ||
| Q1 25 | $175.5M | $163.0M | ||
| Q4 24 | $186.1M | $487.0M | ||
| Q3 24 | $185.8M | $225.0M | ||
| Q2 24 | $130.2M | $130.0M | ||
| Q1 24 | $190.1M | $126.0M |
毛利率ANCBRE
| Q4 25 | 17.5% | 17.3% | ||
| Q3 25 | 17.6% | 17.7% | ||
| Q2 25 | 18.3% | 17.1% | ||
| Q1 25 | 18.2% | 17.1% | ||
| Q4 24 | 17.2% | 18.7% | ||
| Q3 24 | 18.0% | 18.1% | ||
| Q2 24 | 17.9% | 17.6% | ||
| Q1 24 | 18.5% | 17.1% |
营业利润率ANCBRE
| Q4 25 | 4.5% | 5.4% | ||
| Q3 25 | 5.3% | 4.8% | ||
| Q2 25 | 3.1% | 3.9% | ||
| Q1 25 | 5.0% | 3.1% | ||
| Q4 24 | 4.7% | 5.8% | ||
| Q3 24 | 5.3% | 4.2% | ||
| Q2 24 | 4.2% | 3.0% | ||
| Q1 24 | 5.2% | 2.6% |
净利率ANCBRE
| Q4 25 | 2.5% | 3.6% | ||
| Q3 25 | 3.1% | 3.6% | ||
| Q2 25 | 1.2% | 2.2% | ||
| Q1 25 | 2.6% | 1.9% | ||
| Q4 24 | 2.6% | 4.8% | ||
| Q3 24 | 2.8% | 2.5% | ||
| Q2 24 | 2.0% | 1.6% | ||
| Q1 24 | 2.9% | 1.6% |
每股收益（稀释后）ANCBRE
| Q4 25 | $4.68 | $1.38 | ||
| Q3 25 | $5.65 | $1.21 | ||
| Q2 25 | $2.26 | $0.72 | ||
| Q1 25 | $4.45 | $0.54 | ||
| Q4 24 | $4.62 | $1.58 | ||
| Q3 24 | $4.61 | $0.73 | ||
| Q2 24 | $3.20 | $0.42 | ||
| Q1 24 | $4.49 | $0.41 |
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 | $58.6M | $1.9B |
| 总债务越低越好 | $3.7B | — |
| 股东权益账面价值 | $2.3B | $8.9B |
| 总资产 | $14.4B | $30.9B |
| 负债/权益比越低杠杆越低 | 1.58× | — |
8季度趋势，按日历期对齐
现金及短期投资ANCBRE
| Q4 25 | $58.6M | $1.9B | ||
| Q3 25 | $97.6M | $1.7B | ||
| Q2 25 | $62.9M | $1.4B | ||
| Q1 25 | $70.5M | $1.4B | ||
| Q4 24 | $59.8M | $1.1B | ||
| Q3 24 | $60.2M | $1.0B | ||
| Q2 24 | $85.9M | $928.0M | ||
| Q1 24 | $60.3M | $1.0B |
总债务ANCBRE
| Q4 25 | $3.7B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $3.1B | — | ||
| Q4 24 | $2.6B | — | ||
| Q3 24 | $3.1B | — | ||
| Q2 24 | $3.1B | — | ||
| Q1 24 | $3.1B | — |
股东权益ANCBRE
| Q4 25 | $2.3B | $8.9B | ||
| Q3 25 | $2.5B | $8.5B | ||
| Q2 25 | $2.5B | $8.3B | ||
| Q1 25 | $2.4B | $8.3B | ||
| Q4 24 | $2.5B | $8.4B | ||
| Q3 24 | $2.4B | $8.7B | ||
| Q2 24 | $2.2B | $8.4B | ||
| Q1 24 | $2.4B | $8.3B |
总资产ANCBRE
| Q4 25 | $14.4B | $30.9B | ||
| Q3 25 | $14.2B | $28.6B | ||
| Q2 25 | $13.6B | $27.7B | ||
| Q1 25 | $13.3B | $26.4B | ||
| Q4 24 | $13.0B | $24.4B | ||
| Q3 24 | $12.9B | $24.8B | ||
| Q2 24 | $12.8B | $23.5B | ||
| Q1 24 | $12.0B | $23.0B |
负债/权益比ANCBRE
| Q4 25 | 1.58× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 1.29× | — | ||
| Q4 24 | 1.06× | — | ||
| Q3 24 | 1.32× | — | ||
| Q2 24 | 1.43× | — | ||
| Q1 24 | 1.32× | — |
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 | $150.5M | $1.2B |
| 自由现金流经营现金流 - 资本支出 | $64.2M | $1.1B |
| 自由现金流率自由现金流/营收 | 0.9% | 9.4% |
| 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 | 0.87× | 2.94× |
| 过去12个月自由现金流最近4个季度 | $-197.5M | $1.2B |
8季度趋势，按日历期对齐
经营现金流ANCBRE
| Q4 25 | $150.5M | $1.2B | ||
| Q3 25 | $191.7M | $827.0M | ||
| Q2 25 | $-177.8M | $57.0M | ||
| Q1 25 | $-52.5M | $-546.0M | ||
| Q4 24 | $149.8M | $1.3B | ||
| Q3 24 | $-70.0M | $573.0M | ||
| Q2 24 | $-59.6M | $287.0M | ||
| Q1 24 | $294.5M | $-492.0M |
自由现金流ANCBRE
| Q4 25 | $64.2M | $1.1B | ||
| Q3 25 | $122.8M | $743.0M | ||
| Q2 25 | $-256.8M | $-17.0M | ||
| Q1 25 | $-127.7M | $-610.0M | ||
| Q4 24 | $83.5M | $1.2B | ||
| Q3 24 | $-151.0M | $494.0M | ||
| Q2 24 | $-147.1M | $220.0M | ||
| Q1 24 | $200.8M | $-560.0M |
自由现金流率ANCBRE
| Q4 25 | 0.9% | 9.4% | ||
| Q3 25 | 1.7% | 7.4% | ||
| Q2 25 | -3.7% | -0.2% | ||
| Q1 25 | -1.9% | -7.0% | ||
| Q4 24 | 1.2% | 12.2% | ||
| Q3 24 | -2.3% | 5.6% | ||
| Q2 24 | -2.3% | 2.7% | ||
| Q1 24 | 3.1% | -7.2% |
资本支出强度ANCBRE
| Q4 25 | 1.2% | 1.3% | ||
| Q3 25 | 1.0% | 0.8% | ||
| Q2 25 | 1.1% | 0.8% | ||
| Q1 25 | 1.1% | 0.7% | ||
| Q4 24 | 0.9% | 0.9% | ||
| Q3 24 | 1.2% | 0.9% | ||
| Q2 24 | 1.4% | 0.8% | ||
| Q1 24 | 1.4% | 0.9% |
现金转化率ANCBRE
| Q4 25 | 0.87× | 2.94× | ||
| Q3 25 | 0.89× | 2.28× | ||
| Q2 25 | -2.06× | 0.27× | ||
| Q1 25 | -0.30× | -3.35× | ||
| Q4 24 | 0.80× | 2.75× | ||
| Q3 24 | -0.38× | 2.55× | ||
| Q2 24 | -0.46× | 2.21× | ||
| Q1 24 | 1.55× | -3.90× |
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
AN
| New Vehicle | $3.4B | 50% |
| Transferred At Point In Time | $1.7B | 24% |
| Parts And Service | $1.2B | 18% |
| Finance And Insurance Net | $369.4M | 5% |
| Transferred Over Time | $221.4M | 3% |
| Other | $3.5M | 0% |
CBRE
| Other | $5.8B | 51% |
| Project Management Segment | $2.2B | 19% |
| Advisory Leasing | $1.5B | 13% |
| Advisory Sales | $756.0M | 7% |
| Property Management | $695.0M | 6% |
| Investment Management Property Management Brokerage And Other Professional Services | $156.0M | 1% |
| Commercial Mortgage Origination | $95.0M | 1% |
| Other Portfolio Services | $87.0M | 1% |
| Loan Servicing | $73.0M | 1% |
| Real Estate Development Services | $60.0M | 1% |
