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黑石集团（BX）与RUSH ENTERPRISES INC \TX\（RUSHA）财务数据对比。点击上方公司名可切换其他公司
黑石集团的季度营收约是RUSH ENTERPRISES INC \TX\的2.0倍（$3.3B vs $1.7B），黑石集团净利率更高（36.7% vs 3.7%，领先33.1%），RUSH ENTERPRISES INC \TX\同比增速更快（-9.0% vs -77.7%），过去两年黑石集团的营收复合增速更高（8.5% vs -6.8%）
黑石集团是总部位于美国纽约的另类资产管理机构，1985年由曾共同任职于雷曼兄弟的彼得·彼得森和斯蒂芬·施瓦茨曼创立，最初主营并购咨询业务。过去三十年间，其私募股权业务是全球最大的杠杆收购投资方之一，地产业务也在全球积极布局商业不动产投资。
Rush Enterprises是总部位于美国得克萨斯州新布朗费尔斯的商用车经销商，核心业务是通过旗下Rush Truck Centers销售全新及二手卡车。2019年该公司在全美20个州运营超200家卡车中心，在加拿大设有14个网点，2020年入选财富500强榜单。
BX vs RUSHA — 直观对比
营收规模更大
BX
是对方的2.0倍
$1.7B
营收增速更快
RUSHA
高出68.7%
-77.7%
净利率更高
BX
高出33.1%
3.7%
两年增速更快
BX
近两年复合增速
-6.8%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.3B | $1.7B |
| 净利润 | $1.2B | $61.7M |
| 毛利率 | — | 20.4% |
| 营业利润率 | — | 4.9% |
| 净利率 | 36.7% | 3.7% |
| 营收同比 | -77.7% | -9.0% |
| 净利润同比 | -76.1% | 1.8% |
| 每股收益（稀释后） | $0.80 | $0.77 |
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BXRUSHA
| Q1 26 | $3.3B | $1.7B | ||
| Q4 25 | $4.4B | $1.7B | ||
| Q3 25 | $3.1B | $1.8B | ||
| Q2 25 | $3.7B | $1.8B | ||
| Q1 25 | $3.3B | $1.8B | ||
| Q4 24 | $3.1B | $1.9B | ||
| Q3 24 | $3.7B | $1.8B | ||
| Q2 24 | $2.8B | $1.9B |
净利润BXRUSHA
| Q1 26 | $1.2B | $61.7M | ||
| Q4 25 | $1.0B | $64.3M | ||
| Q3 25 | $624.9M | $66.7M | ||
| Q2 25 | $764.2M | $72.4M | ||
| Q1 25 | $614.9M | $60.3M | ||
| Q4 24 | $703.9M | $74.8M | ||
| Q3 24 | $780.8M | $79.1M | ||
| Q2 24 | $444.4M | $78.7M |
毛利率BXRUSHA
| Q1 26 | — | 20.4% | ||
| Q4 25 | — | 20.8% | ||
| Q3 25 | — | 21.0% | ||
| Q2 25 | — | 20.7% | ||
| Q1 25 | — | 20.3% | ||
| Q4 24 | — | 19.3% | ||
| Q3 24 | — | 21.0% | ||
| Q2 24 | — | 20.2% |
营业利润率BXRUSHA
| Q1 26 | — | 4.9% | ||
| Q4 25 | 54.1% | 5.5% | ||
| Q3 25 | 46.8% | 5.6% | ||
| Q2 25 | 51.6% | 6.0% | ||
| Q1 25 | 44.2% | 5.2% | ||
| Q4 24 | 50.6% | 5.8% | ||
| Q3 24 | 49.4% | 6.7% | ||
| Q2 24 | 43.2% | 6.4% |
净利率BXRUSHA
| Q1 26 | 36.7% | 3.7% | ||
| Q4 25 | 23.3% | 3.8% | ||
| Q3 25 | 20.2% | 3.7% | ||
| Q2 25 | 20.6% | 3.9% | ||
| Q1 25 | 18.7% | 3.4% | ||
| Q4 24 | 22.8% | 3.9% | ||
| Q3 24 | 21.3% | 4.4% | ||
| Q2 24 | 15.9% | 4.1% |
每股收益（稀释后）BXRUSHA
| Q1 26 | $0.80 | $0.77 | ||
| Q4 25 | $1.29 | $0.81 | ||
| Q3 25 | $0.80 | $0.83 | ||
| Q2 25 | $0.98 | $0.90 | ||
| Q1 25 | $0.80 | $0.73 | ||
| Q4 24 | $0.91 | $-95.13 | ||
| Q3 24 | $1.02 | $0.97 | ||
| Q2 24 | $0.58 | $97.00 |
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 | $2.4B | — |
| 总债务越低越好 | — | $277.8M |
| 股东权益账面价值 | $18.5B | $2.3B |
| 总资产 | $45.3B | $4.5B |
| 负债/权益比越低杠杆越低 | — | 0.12× |
8季度趋势，按日历期对齐
现金及短期投资BXRUSHA
| Q1 26 | $2.4B | — | ||
| Q4 25 | $2.6B | $212.6M | ||
| Q3 25 | $2.4B | $242.0M | ||
| Q2 25 | $2.2B | $211.1M | ||
| Q1 25 | $2.4B | $228.7M | ||
| Q4 24 | $2.0B | $228.1M | ||
| Q3 24 | $2.4B | $185.1M | ||
| Q2 24 | $2.4B | $167.3M |
总债务BXRUSHA
| Q1 26 | — | $277.8M | ||
| Q4 25 | $12.6B | $274.8M | ||
| Q3 25 | $12.1B | — | ||
| Q2 25 | $12.1B | — | ||
| Q1 25 | $12.6B | — | ||
| Q4 24 | $11.5B | $408.4M | ||
| Q3 24 | $10.9B | — | ||
| Q2 24 | $10.8B | — |
股东权益BXRUSHA
| Q1 26 | $18.5B | $2.3B | ||
| Q4 25 | $8.7B | $2.2B | ||
| Q3 25 | $8.4B | $2.2B | ||
| Q2 25 | $8.4B | $2.2B | ||
| Q1 25 | $8.0B | $2.2B | ||
| Q4 24 | $8.2B | $2.1B | ||
| Q3 24 | $7.0B | $2.1B | ||
| Q2 24 | $6.8B | $2.0B |
总资产BXRUSHA
| Q1 26 | $45.3B | $4.5B | ||
| Q4 25 | $47.7B | $4.4B | ||
| Q3 25 | $46.6B | $4.6B | ||
| Q2 25 | $45.4B | $4.7B | ||
| Q1 25 | $45.3B | $4.7B | ||
| Q4 24 | $43.5B | $4.6B | ||
| Q3 24 | $42.6B | $4.6B | ||
| Q2 24 | $40.6B | $4.5B |
负债/权益比BXRUSHA
| Q1 26 | — | 0.12× | ||
| Q4 25 | 1.45× | 0.12× | ||
| Q3 25 | 1.44× | — | ||
| Q2 25 | 1.45× | — | ||
| Q1 25 | 1.58× | — | ||
| Q4 24 | 1.40× | 0.19× | ||
| Q3 24 | 1.55× | — | ||
| Q2 24 | 1.58× | — |
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 | — | — |
| 自由现金流经营现金流 - 资本支出 | — | $411.6M |
| 自由现金流率自由现金流/营收 | — | 24.4% |
| 资本支出强度资本支出/营收 | — | 2.0% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | $828.4M |
8季度趋势，按日历期对齐
经营现金流BXRUSHA
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $112.9M | ||
| Q3 25 | $1.6B | $367.8M | ||
| Q2 25 | $888.5M | $227.6M | ||
| Q1 25 | $1.1B | $153.5M | ||
| Q4 24 | $161.4M | $392.3M | ||
| Q3 24 | $1.2B | $111.7M | ||
| Q2 24 | $1.2B | $270.6M |
自由现金流BXRUSHA
| Q1 26 | — | $411.6M | ||
| Q4 25 | $1.0B | $31.9M | ||
| Q3 25 | $1.6B | $271.2M | ||
| Q2 25 | $848.4M | $113.8M | ||
| Q1 25 | $1.1B | $45.1M | ||
| Q4 24 | $149.5M | $263.5M | ||
| Q3 24 | $1.2B | $-20.0M | ||
| Q2 24 | $1.1B | $177.2M |
自由现金流率BXRUSHA
| Q1 26 | — | 24.4% | ||
| Q4 25 | 24.0% | 1.9% | ||
| Q3 25 | 51.0% | 15.2% | ||
| Q2 25 | 22.9% | 6.2% | ||
| Q1 25 | 32.8% | 2.6% | ||
| Q4 24 | 4.9% | 13.7% | ||
| Q3 24 | 32.8% | -1.1% | ||
| Q2 24 | 41.0% | 9.1% |
资本支出强度BXRUSHA
| Q1 26 | — | 2.0% | ||
| Q4 25 | 0.5% | 4.8% | ||
| Q3 25 | 0.8% | 5.4% | ||
| Q2 25 | 1.1% | 6.2% | ||
| Q1 25 | 0.9% | 6.2% | ||
| Q4 24 | 0.4% | 6.7% | ||
| Q3 24 | 0.5% | 7.3% | ||
| Q2 24 | 0.4% | 4.8% |
现金转化率BXRUSHA
| Q1 26 | — | — | ||
| Q4 25 | 1.05× | 1.75× | ||
| Q3 25 | 2.56× | 5.51× | ||
| Q2 25 | 1.16× | 3.14× | ||
| Q1 25 | 1.80× | 2.55× | ||
| Q4 24 | 0.23× | 5.25× | ||
| Q3 24 | 1.56× | 1.41× | ||
| Q2 24 | 2.61× | 3.44× |
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
BX
| Management and Advisory Fees, Net | $1.9B | 58% |
| Realized | $562.0M | 17% |
| Other | $368.1M | 11% |
| Unrealized | $263.2M | 8% |
| Incentive Fees | $191.8M | 6% |
RUSHA
| New and used commercial vehicle sales | $955.1M | 57% |
| Aftermarket products and services sales | $627.2M | 37% |
| Lease and rental sales | $92.3M | 5% |
| Finance and insurance | $5.6M | 0% |
