vs
Artisan Partners Asset Management Inc.（APAM）与CASELLA WASTE SYSTEMS INC（CWST）财务数据对比。点击上方公司名可切换其他公司
CASELLA WASTE SYSTEMS INC的季度营收约是Artisan Partners Asset Management Inc.的1.7倍（$557.2M vs $335.5M），Artisan Partners Asset Management Inc.净利率更高（35.2% vs -1.0%，领先36.2%），Artisan Partners Asset Management Inc.同比增速更快（12.9% vs 9.6%），Artisan Partners Asset Management Inc.自由现金流更多（$171.6M vs $30.7M），过去两年CASELLA WASTE SYSTEMS INC的营收复合增速更高（21.5% vs 12.7%）
阿蒂森伙伴资产管理公司（Artisan Partners）是总部位于美国威斯康星州密尔沃基的资产管理机构，除美国本土外，还在都柏林、香港、伦敦、新加坡、悉尼设有办公室，为全球客户提供专业的资产管理服务。
Casella Waste Systems Inc.是总部位于美国佛蒙特州拉特兰的废弃物管理企业，1975年创立时仅靠一辆卡车起步，现为区域型垂直一体化固体废物服务提供商，面向住宅、商业、市政及工业客户提供固废收集处置、中转、回收、有机废弃物处理等专业资源管理服务。
APAM vs CWST — 直观对比
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $335.5M | $557.2M |
| 净利润 | $118.1M | $-5.5M |
| 毛利率 | — | — |
| 营业利润率 | 39.2% | 0.9% |
| 净利率 | 35.2% | -1.0% |
| 营收同比 | 12.9% | 9.6% |
| 净利润同比 | 34.9% | -15.2% |
| 每股收益（稀释后） | $1.36 | $-0.09 |
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
| Q1 26 | — | $557.2M | ||
| Q4 25 | $335.5M | $469.1M | ||
| Q3 25 | $301.3M | $485.4M | ||
| Q2 25 | $282.7M | $465.3M | ||
| Q1 25 | $277.1M | $417.1M | ||
| Q4 24 | $297.1M | $427.5M | ||
| Q3 24 | $279.6M | $411.6M | ||
| Q2 24 | $270.8M | $377.2M |
| Q1 26 | — | $-5.5M | ||
| Q4 25 | $118.1M | $-2.5M | ||
| Q3 25 | $66.8M | $10.0M | ||
| Q2 25 | $67.6M | $5.2M | ||
| Q1 25 | $61.1M | $-4.8M | ||
| Q4 24 | $87.5M | $4.9M | ||
| Q3 24 | $73.0M | $5.8M | ||
| Q2 24 | $57.6M | $7.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 33.3% | ||
| Q3 25 | — | 35.0% | ||
| Q2 25 | — | 33.8% | ||
| Q1 25 | — | 32.8% | ||
| Q4 24 | — | 33.2% | ||
| Q3 24 | — | 35.1% | ||
| Q2 24 | — | 35.4% |
| Q1 26 | — | 0.9% | ||
| Q4 25 | 39.2% | 2.5% | ||
| Q3 25 | 33.8% | 6.1% | ||
| Q2 25 | 28.2% | 4.1% | ||
| Q1 25 | 31.2% | 0.8% | ||
| Q4 24 | 36.7% | 4.3% | ||
| Q3 24 | 33.3% | 5.9% | ||
| Q2 24 | 32.0% | 6.1% |
| Q1 26 | — | -1.0% | ||
| Q4 25 | 35.2% | -0.5% | ||
| Q3 25 | 22.2% | 2.1% | ||
| Q2 25 | 23.9% | 1.1% | ||
| Q1 25 | 22.1% | -1.2% | ||
| Q4 24 | 29.5% | 1.1% | ||
| Q3 24 | 26.1% | 1.4% | ||
| Q2 24 | 21.3% | 1.9% |
| Q1 26 | — | $-0.09 | ||
| Q4 25 | $1.36 | $-0.04 | ||
| Q3 25 | $0.93 | $0.16 | ||
| Q2 25 | $0.94 | $0.08 | ||
| Q1 25 | $0.82 | $-0.08 | ||
| Q4 24 | $0.99 | $0.08 | ||
| Q3 24 | $1.03 | $0.10 | ||
| Q2 24 | $0.80 | $0.12 |
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 | — | $126.9M |
| 总债务越低越好 | $190.0M | — |
| 股东权益账面价值 | $438.8M | $1.6B |
| 总资产 | $1.6B | $3.3B |
| 负债/权益比越低杠杆越低 | 0.43× | — |
8季度趋势，按日历期对齐
| Q1 26 | — | $126.9M | ||
| Q4 25 | — | $123.8M | ||
| Q3 25 | — | $192.7M | ||
| Q2 25 | — | $217.8M | ||
| Q1 25 | — | $267.7M | ||
| Q4 24 | — | $358.3M | ||
| Q3 24 | — | $519.0M | ||
| Q2 24 | — | $208.5M |
| Q1 26 | — | — | ||
| Q4 25 | $190.0M | $1.1B | ||
| Q3 25 | $190.0M | $1.1B | ||
| Q2 25 | $200.0M | $1.1B | ||
| Q1 25 | $200.0M | $1.1B | ||
| Q4 24 | $200.0M | $1.1B | ||
| Q3 24 | $200.0M | $1.0B | ||
| Q2 24 | $200.0M | $976.6M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $438.8M | $1.6B | ||
| Q3 25 | $402.1M | $1.6B | ||
| Q2 25 | $381.8M | $1.6B | ||
| Q1 25 | $356.5M | $1.5B | ||
| Q4 24 | $388.9M | $1.6B | ||
| Q3 24 | $372.1M | $1.5B | ||
| Q2 24 | $341.2M | $1.0B |
| Q1 26 | — | $3.3B | ||
| Q4 25 | $1.6B | $3.3B | ||
| Q3 25 | $1.6B | $3.3B | ||
| Q2 25 | $1.4B | $3.3B | ||
| Q1 25 | $1.4B | $3.2B | ||
| Q4 24 | $1.6B | $3.2B | ||
| Q3 24 | $1.6B | $3.1B | ||
| Q2 24 | $1.5B | $2.5B |
| Q1 26 | — | — | ||
| Q4 25 | 0.43× | 0.72× | ||
| Q3 25 | 0.47× | 0.72× | ||
| Q2 25 | 0.52× | 0.72× | ||
| Q1 25 | 0.56× | 0.72× | ||
| Q4 24 | 0.51× | 0.70× | ||
| Q3 24 | 0.54× | 0.68× | ||
| Q2 24 | 0.59× | 0.94× |
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 | $172.0M | $62.3M |
| 自由现金流经营现金流 - 资本支出 | $171.6M | $30.7M |
| 自由现金流率自由现金流/营收 | 51.2% | 5.5% |
| 资本支出强度资本支出/营收 | 0.1% | 9.0% |
| 现金转化率经营现金流/净利润 | 1.46× | — |
| 过去12个月自由现金流最近4个季度 | $420.6M | $120.7M |
8季度趋势，按日历期对齐
| Q1 26 | — | $62.3M | ||
| Q4 25 | $172.0M | $96.6M | ||
| Q3 25 | $40.4M | $93.6M | ||
| Q2 25 | $50.9M | $89.5M | ||
| Q1 25 | $157.9M | $50.1M | ||
| Q4 24 | $372.8M | $109.8M | ||
| Q3 24 | $112.8M | $91.8M | ||
| Q2 24 | $75.9M | $72.1M |
| Q1 26 | — | $30.7M | ||
| Q4 25 | $171.6M | $39.3M | ||
| Q3 25 | $40.4M | $27.6M | ||
| Q2 25 | $50.9M | $23.1M | ||
| Q1 25 | $157.7M | $-5.4M | ||
| Q4 24 | $371.3M | $32.9M | ||
| Q3 24 | $112.4M | $40.4M | ||
| Q2 24 | $75.2M | $27.5M |
| Q1 26 | — | 5.5% | ||
| Q4 25 | 51.2% | 8.4% | ||
| Q3 25 | 13.4% | 5.7% | ||
| Q2 25 | 18.0% | 5.0% | ||
| Q1 25 | 56.9% | -1.3% | ||
| Q4 24 | 125.0% | 7.7% | ||
| Q3 24 | 40.2% | 9.8% | ||
| Q2 24 | 27.8% | 7.3% |
| Q1 26 | — | 9.0% | ||
| Q4 25 | 0.1% | 12.2% | ||
| Q3 25 | 0.0% | 13.6% | ||
| Q2 25 | 0.0% | 14.3% | ||
| Q1 25 | 0.1% | 13.3% | ||
| Q4 24 | 0.5% | 18.0% | ||
| Q3 24 | 0.1% | 12.5% | ||
| Q2 24 | 0.2% | 11.8% |
| Q1 26 | — | — | ||
| Q4 25 | 1.46× | — | ||
| Q3 25 | 0.60× | 9.37× | ||
| Q2 25 | 0.75× | 17.19× | ||
| Q1 25 | 2.58× | — | ||
| Q4 24 | 4.26× | 22.51× | ||
| Q3 24 | 1.54× | 15.91× | ||
| Q2 24 | 1.32× | 10.29× |
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
APAM
暂无分部数据
CWST
| Collection | $334.8M | 60% |
| Transfer station | $65.9M | 12% |
| Processing (ii) | $49.0M | 9% |
| Landfill | $48.0M | 9% |
| National Accounts (ii) | $45.6M | 8% |
| Transportation | $8.2M | 1% |
| Landfill gas-to-energy | $2.9M | 1% |
