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亚玛芬体育（AS）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
亚玛芬体育的季度营收约是CASELLA WASTE SYSTEMS INC的1.9倍（$1.1B vs $557.2M），亚玛芬体育净利率更高（1.8% vs -1.0%，领先2.8%），亚玛芬体育自由现金流更多（$92.2M vs $30.7M）
亚玛芬体育是芬兰跨国运动装备企业，总部位于赫尔辛基，成立于1950年。早年为涉足烟草贸易、航运、出版等领域的多元化工业集团，后逐步转型专注于体育用品的生产与营销，现有员工超9700人，2018年起成为中国安踏体育旗下子公司。
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。
AS vs CWST — 直观对比
营收规模更大
AS
是对方的1.9倍
$557.2M
净利率更高
AS
高出2.8%
-1.0%
自由现金流更多
AS
多$61.5M
$30.7M
损益表 — Q1 FY2024 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $557.2M |
| 净利润 | $19.0M | $-5.5M |
| 毛利率 | 52.8% | — |
| 营业利润率 | 12.4% | 0.9% |
| 净利率 | 1.8% | -1.0% |
| 营收同比 | — | 9.6% |
| 净利润同比 | — | -15.2% |
| 每股收益（稀释后） | $0.05 | $-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
营收ASCWST
| Q1 26 | — | $557.2M | ||
| Q4 25 | — | $469.1M | ||
| Q3 25 | — | $485.4M | ||
| Q2 25 | — | $465.3M | ||
| Q1 25 | — | $417.1M | ||
| Q4 24 | — | $427.5M | ||
| Q3 24 | — | $411.6M | ||
| Q2 24 | — | $377.2M |
净利润ASCWST
| Q1 26 | — | $-5.5M | ||
| Q4 25 | — | $-2.5M | ||
| Q3 25 | — | $10.0M | ||
| Q2 25 | — | $5.2M | ||
| Q1 25 | — | $-4.8M | ||
| Q4 24 | — | $4.9M | ||
| Q3 24 | — | $5.8M | ||
| Q2 24 | — | $7.0M |
毛利率ASCWST
| 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% |
营业利润率ASCWST
| Q1 26 | — | 0.9% | ||
| Q4 25 | — | 2.5% | ||
| Q3 25 | — | 6.1% | ||
| Q2 25 | — | 4.1% | ||
| Q1 25 | — | 0.8% | ||
| Q4 24 | — | 4.3% | ||
| Q3 24 | — | 5.9% | ||
| Q2 24 | — | 6.1% |
净利率ASCWST
| Q1 26 | — | -1.0% | ||
| Q4 25 | — | -0.5% | ||
| Q3 25 | — | 2.1% | ||
| Q2 25 | — | 1.1% | ||
| Q1 25 | — | -1.2% | ||
| Q4 24 | — | 1.1% | ||
| Q3 24 | — | 1.4% | ||
| Q2 24 | — | 1.9% |
每股收益（稀释后）ASCWST
| Q1 26 | — | $-0.09 | ||
| Q4 25 | — | $-0.04 | ||
| Q3 25 | — | $0.16 | ||
| Q2 25 | — | $0.08 | ||
| Q1 25 | — | $-0.08 | ||
| Q4 24 | — | $0.08 | ||
| Q3 24 | — | $0.10 | ||
| Q2 24 | — | $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 | — | — |
| 股东权益账面价值 | — | $1.6B |
| 总资产 | — | $3.3B |
| 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ASCWST
| 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 |
总债务ASCWST
| Q1 26 | — | — | ||
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.0B | ||
| Q2 24 | — | $976.6M |
股东权益ASCWST
| Q1 26 | — | $1.6B | ||
| Q4 25 | — | $1.6B | ||
| Q3 25 | — | $1.6B | ||
| Q2 25 | — | $1.6B | ||
| Q1 25 | — | $1.5B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | — | $1.5B | ||
| Q2 24 | — | $1.0B |
总资产ASCWST
| Q1 26 | — | $3.3B | ||
| Q4 25 | — | $3.3B | ||
| Q3 25 | — | $3.3B | ||
| Q2 25 | — | $3.3B | ||
| Q1 25 | — | $3.2B | ||
| Q4 24 | — | $3.2B | ||
| Q3 24 | — | $3.1B | ||
| Q2 24 | — | $2.5B |
负债/权益比ASCWST
| Q1 26 | — | — | ||
| Q4 25 | — | 0.72× | ||
| Q3 25 | — | 0.72× | ||
| Q2 25 | — | 0.72× | ||
| Q1 25 | — | 0.72× | ||
| Q4 24 | — | 0.70× | ||
| Q3 24 | — | 0.68× | ||
| Q2 24 | — | 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 | $114.3M | $62.3M |
| 自由现金流经营现金流 - 资本支出 | $92.2M | $30.7M |
| 自由现金流率自由现金流/营收 | 8.8% | 5.5% |
| 资本支出强度资本支出/营收 | 2.1% | 9.0% |
| 现金转化率经营现金流/净利润 | 6.02× | — |
| 过去12个月自由现金流最近4个季度 | — | $120.7M |
8季度趋势，按日历期对齐
经营现金流ASCWST
| Q1 26 | — | $62.3M | ||
| Q4 25 | — | $96.6M | ||
| Q3 25 | — | $93.6M | ||
| Q2 25 | — | $89.5M | ||
| Q1 25 | — | $50.1M | ||
| Q4 24 | — | $109.8M | ||
| Q3 24 | — | $91.8M | ||
| Q2 24 | — | $72.1M |
自由现金流ASCWST
| Q1 26 | — | $30.7M | ||
| Q4 25 | — | $39.3M | ||
| Q3 25 | — | $27.6M | ||
| Q2 25 | — | $23.1M | ||
| Q1 25 | — | $-5.4M | ||
| Q4 24 | — | $32.9M | ||
| Q3 24 | — | $40.4M | ||
| Q2 24 | — | $27.5M |
自由现金流率ASCWST
| Q1 26 | — | 5.5% | ||
| Q4 25 | — | 8.4% | ||
| Q3 25 | — | 5.7% | ||
| Q2 25 | — | 5.0% | ||
| Q1 25 | — | -1.3% | ||
| Q4 24 | — | 7.7% | ||
| Q3 24 | — | 9.8% | ||
| Q2 24 | — | 7.3% |
资本支出强度ASCWST
| Q1 26 | — | 9.0% | ||
| Q4 25 | — | 12.2% | ||
| Q3 25 | — | 13.6% | ||
| Q2 25 | — | 14.3% | ||
| Q1 25 | — | 13.3% | ||
| Q4 24 | — | 18.0% | ||
| Q3 24 | — | 12.5% | ||
| Q2 24 | — | 11.8% |
现金转化率ASCWST
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 9.37× | ||
| Q2 25 | — | 17.19× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 22.51× | ||
| Q3 24 | — | 15.91× | ||
| Q2 24 | — | 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
AS
| Americas2 | $409.6M | 39% |
| EMEA1 | $356.9M | 34% |
| Greater China3 | $205.6M | 20% |
| Asia Pacific4 | $78.2M | 7% |
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% |
