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AvalonBay Communities（AVB）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
AvalonBay Communities的季度营收约是CASELLA WASTE SYSTEMS INC的1.6倍（$767.9M vs $469.1M），AvalonBay Communities净利率更高（9040.6% vs -0.5%，领先9041.1%），CASELLA WASTE SYSTEMS INC同比增速更快（9.7% vs 3.7%），AvalonBay Communities自由现金流更多（$1.4B vs $39.3M），过去两年CASELLA WASTE SYSTEMS INC的营收复合增速更高（17.3% vs 3.8%）
AvalonBay Communities是一家公开上市的房地产投资信托（REIT），核心业务聚焦公寓类不动产的投资与运营，旗下持有并管理大量区位优质的公寓项目，为租户提供高品质居住服务，在北美住宅地产投资领域拥有较高知名度。
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。
AVB vs CWST — 直观对比
营收规模更大
AVB
是对方的1.6倍
$469.1M
营收增速更快
CWST
高出6.0%
3.7%
净利率更高
AVB
高出9041.1%
-0.5%
自由现金流更多
AVB
多$1.4B
$39.3M
两年增速更快
CWST
近两年复合增速
3.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $767.9M | $469.1M |
| 净利润 | $166.0M | $-2.5M |
| 毛利率 | — | 33.3% |
| 营业利润率 | 64.2% | 2.5% |
| 净利率 | 9040.6% | -0.5% |
| 营收同比 | 3.7% | 9.7% |
| 净利润同比 | -41.2% | -151.5% |
| 每股收益（稀释后） | $1.18 | $-0.04 |
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AVBCWST
| Q4 25 | $767.9M | $469.1M | ||
| Q3 25 | $766.8M | $485.4M | ||
| Q2 25 | $760.2M | $465.3M | ||
| Q1 25 | $745.9M | $417.1M | ||
| Q4 24 | $740.5M | $427.5M | ||
| Q3 24 | $734.3M | $411.6M | ||
| Q2 24 | $726.0M | $377.2M | ||
| Q1 24 | $712.9M | $341.0M |
净利润AVBCWST
| Q4 25 | $166.0M | $-2.5M | ||
| Q3 25 | $381.3M | $10.0M | ||
| Q2 25 | $268.7M | $5.2M | ||
| Q1 25 | $236.6M | $-4.8M | ||
| Q4 24 | $282.1M | $4.9M | ||
| Q3 24 | $372.5M | $5.8M | ||
| Q2 24 | $253.9M | $7.0M | ||
| Q1 24 | $173.4M | $-4.1M |
毛利率AVBCWST
| 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 24 | — | 32.3% |
营业利润率AVBCWST
| Q4 25 | 64.2% | 2.5% | ||
| Q3 25 | 65.7% | 6.1% | ||
| Q2 25 | 67.6% | 4.1% | ||
| Q1 25 | 68.5% | 0.8% | ||
| Q4 24 | 63.1% | 4.3% | ||
| Q3 24 | 65.4% | 5.9% | ||
| Q2 24 | 66.6% | 6.1% | ||
| Q1 24 | 67.2% | 2.0% |
净利率AVBCWST
| Q4 25 | 9040.6% | -0.5% | ||
| Q3 25 | 49.7% | 2.1% | ||
| Q2 25 | 35.3% | 1.1% | ||
| Q1 25 | 31.7% | -1.2% | ||
| Q4 24 | 38.1% | 1.1% | ||
| Q3 24 | 50.7% | 1.4% | ||
| Q2 24 | 35.0% | 1.9% | ||
| Q1 24 | 24.3% | -1.2% |
每股收益（稀释后）AVBCWST
| Q4 25 | $1.18 | $-0.04 | ||
| Q3 25 | $2.68 | $0.16 | ||
| Q2 25 | $1.88 | $0.08 | ||
| Q1 25 | $1.66 | $-0.08 | ||
| Q4 24 | $1.99 | $0.08 | ||
| Q3 24 | $2.61 | $0.10 | ||
| Q2 24 | $1.78 | $0.12 | ||
| Q1 24 | $1.22 | $-0.07 |
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 | $187.2M | $123.8M |
| 总债务越低越好 | $9.3B | $1.1B |
| 股东权益账面价值 | $11.6B | $1.6B |
| 总资产 | $22.2B | $3.3B |
| 负债/权益比越低杠杆越低 | 0.80× | 0.72× |
8季度趋势，按日历期对齐
现金及短期投资AVBCWST
| Q4 25 | $187.2M | $123.8M | ||
| Q3 25 | $123.3M | $192.7M | ||
| Q2 25 | $102.8M | $217.8M | ||
| Q1 25 | $53.3M | $267.7M | ||
| Q4 24 | $108.6M | $358.3M | ||
| Q3 24 | $552.4M | $519.0M | ||
| Q2 24 | $545.8M | $208.5M | ||
| Q1 24 | $287.9M | $189.5M |
总债务AVBCWST
| Q4 25 | $9.3B | $1.1B | ||
| Q3 25 | $8.7B | $1.1B | ||
| Q2 25 | $8.7B | $1.1B | ||
| Q1 25 | $8.3B | $1.1B | ||
| Q4 24 | $8.1B | $1.1B | ||
| Q3 24 | $8.4B | $1.0B | ||
| Q2 24 | $8.4B | $976.6M | ||
| Q1 24 | $8.0B | $980.9M |
股东权益AVBCWST
| Q4 25 | $11.6B | $1.6B | ||
| Q3 25 | $11.9B | $1.6B | ||
| Q2 25 | $11.9B | $1.6B | ||
| Q1 25 | $11.9B | $1.5B | ||
| Q4 24 | $11.9B | $1.6B | ||
| Q3 24 | $11.9B | $1.5B | ||
| Q2 24 | $11.7B | $1.0B | ||
| Q1 24 | $11.7B | $1.0B |
总资产AVBCWST
| Q4 25 | $22.2B | $3.3B | ||
| Q3 25 | $21.9B | $3.3B | ||
| Q2 25 | $21.8B | $3.3B | ||
| Q1 25 | $21.2B | $3.2B | ||
| Q4 24 | $21.0B | $3.2B | ||
| Q3 24 | $21.3B | $3.1B | ||
| Q2 24 | $21.0B | $2.5B | ||
| Q1 24 | $20.6B | $2.5B |
负债/权益比AVBCWST
| Q4 25 | 0.80× | 0.72× | ||
| Q3 25 | 0.73× | 0.72× | ||
| Q2 25 | 0.72× | 0.72× | ||
| Q1 25 | 0.70× | 0.72× | ||
| Q4 24 | 0.68× | 0.70× | ||
| Q3 24 | 0.70× | 0.68× | ||
| Q2 24 | 0.71× | 0.94× | ||
| Q1 24 | 0.68× | 0.96× |
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 | $1.7B | $96.6M |
| 自由现金流经营现金流 - 资本支出 | $1.4B | $39.3M |
| 自由现金流率自由现金流/营收 | 183.5% | 8.4% |
| 资本支出强度资本支出/营收 | 34.1% | 12.2% |
| 现金转化率经营现金流/净利润 | 10.07× | — |
| 过去12个月自由现金流最近4个季度 | $2.5B | $84.7M |
8季度趋势，按日历期对齐
经营现金流AVBCWST
| Q4 25 | $1.7B | $96.6M | ||
| Q3 25 | $477.0M | $93.6M | ||
| Q2 25 | $377.8M | $89.5M | ||
| Q1 25 | $415.9M | $50.1M | ||
| Q4 24 | $1.6B | $109.8M | ||
| Q3 24 | $486.2M | $91.8M | ||
| Q2 24 | $380.0M | $72.1M | ||
| Q1 24 | $412.9M | $7.7M |
自由现金流AVBCWST
| Q4 25 | $1.4B | $39.3M | ||
| Q3 25 | $402.2M | $27.6M | ||
| Q2 25 | $317.1M | $23.1M | ||
| Q1 25 | $367.5M | $-5.4M | ||
| Q4 24 | $1.4B | $32.9M | ||
| Q3 24 | $434.2M | $40.4M | ||
| Q2 24 | $333.0M | $27.5M | ||
| Q1 24 | $375.4M | $-22.6M |
自由现金流率AVBCWST
| Q4 25 | 183.5% | 8.4% | ||
| Q3 25 | 52.5% | 5.7% | ||
| Q2 25 | 41.7% | 5.0% | ||
| Q1 25 | 49.3% | -1.3% | ||
| Q4 24 | 191.0% | 7.7% | ||
| Q3 24 | 59.1% | 9.8% | ||
| Q2 24 | 45.9% | 7.3% | ||
| Q1 24 | 52.7% | -6.6% |
资本支出强度AVBCWST
| Q4 25 | 34.1% | 12.2% | ||
| Q3 25 | 9.8% | 13.6% | ||
| Q2 25 | 8.0% | 14.3% | ||
| Q1 25 | 6.5% | 13.3% | ||
| Q4 24 | 26.1% | 18.0% | ||
| Q3 24 | 7.1% | 12.5% | ||
| Q2 24 | 6.5% | 11.8% | ||
| Q1 24 | 5.3% | 8.9% |
现金转化率AVBCWST
| Q4 25 | 10.07× | — | ||
| Q3 25 | 1.25× | 9.37× | ||
| Q2 25 | 1.41× | 17.19× | ||
| Q1 25 | 1.76× | — | ||
| Q4 24 | 5.70× | 22.51× | ||
| Q3 24 | 1.31× | 15.91× | ||
| Q2 24 | 1.50× | 10.29× | ||
| Q1 24 | 2.38× | — |
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
AVB
暂无分部数据
CWST
| Transferred Over Time | $120.9M | 26% |
| Resource Solutions Region | $92.9M | 20% |
| Collection | $90.9M | 19% |
| Mid Atlantic Region | $89.6M | 19% |
| National Accounts | $60.9M | 13% |
| Landfill Revenue | $8.3M | 2% |
| Processing Services | $2.1M | 0% |
| Transportation | $1.4M | 0% |
