vs
CrossAmerica Partners LP（CAPL）与卡骆驰（CROX）财务数据对比。点击上方公司名可切换其他公司
卡骆驰的季度营收约是CrossAmerica Partners LP的1.1倍（$957.6M vs $866.3M），卡骆驰净利率更高（11.0% vs 1.2%，领先9.8%），卡骆驰同比增速更快（-3.2% vs -8.3%），卡骆驰自由现金流更多（$246.4M vs $22.4M），过去两年卡骆驰的营收复合增速更高（1.0% vs -4.1%）
塔峰资本合伙人（TowerBrook Capital Partners）是一家总部位于伦敦和纽约的投资管理公司，2005年从索罗斯基金管理分拆独立。该机构主打私募股权及结构性机会投资，曾收购奢侈品品牌Jimmy Choo控股权，截至2025年其管理规模超250亿美元，官网公示在管投资项目共110个。
卡骆驰（Crocs）是总部位于美国科罗拉多州布鲁姆菲尔德的鞋履企业，主打生产、销售旗下同名品牌的泡沫鞋履产品。其标志性鞋款虽被品牌称为“木屐”，但和传统木屐不同，不含木质材料，凭借舒适轻便的特性受到全球消费者喜爱。
CAPL vs CROX — 直观对比
营收规模更大
CROX
是对方的1.1倍
$866.3M
营收增速更快
CROX
高出5.0%
-8.3%
净利率更高
CROX
高出9.8%
1.2%
自由现金流更多
CROX
多$224.1M
$22.4M
两年增速更快
CROX
近两年复合增速
-4.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $866.3M | $957.6M |
| 净利润 | $10.2M | $105.2M |
| 毛利率 | 12.4% | 54.7% |
| 营业利润率 | 3.0% | 15.3% |
| 净利率 | 1.2% | 11.0% |
| 营收同比 | -8.3% | -3.2% |
| 净利润同比 | -39.6% | -71.5% |
| 每股收益（稀释后） | $0.24 | $1.79 |
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CAPLCROX
| Q4 25 | $866.3M | $957.6M | ||
| Q3 25 | $971.8M | $996.3M | ||
| Q2 25 | $961.9M | $1.1B | ||
| Q1 25 | $862.5M | $937.3M | ||
| Q4 24 | $944.2M | $989.8M | ||
| Q3 24 | $1.1B | $1.1B | ||
| Q2 24 | $1.1B | $1.1B | ||
| Q1 24 | $941.5M | $938.6M |
净利润CAPLCROX
| Q4 25 | $10.2M | $105.2M | ||
| Q3 25 | $13.6M | $145.8M | ||
| Q2 25 | $25.2M | $-492.3M | ||
| Q1 25 | $-7.1M | $160.1M | ||
| Q4 24 | $16.9M | $368.9M | ||
| Q3 24 | $10.7M | $199.8M | ||
| Q2 24 | $12.4M | $228.9M | ||
| Q1 24 | $-17.5M | $152.5M |
毛利率CAPLCROX
| Q4 25 | 12.4% | 54.7% | ||
| Q3 25 | 10.8% | 58.5% | ||
| Q2 25 | 10.5% | 61.7% | ||
| Q1 25 | 10.4% | 57.8% | ||
| Q4 24 | 10.7% | 57.9% | ||
| Q3 24 | 10.3% | 59.6% | ||
| Q2 24 | 9.2% | 61.4% | ||
| Q1 24 | 8.6% | 55.6% |
营业利润率CAPLCROX
| Q4 25 | 3.0% | 15.3% | ||
| Q3 25 | 2.9% | 20.8% | ||
| Q2 25 | 4.3% | -37.2% | ||
| Q1 25 | 0.2% | 23.8% | ||
| Q4 24 | 3.0% | 20.2% | ||
| Q3 24 | 2.5% | 25.4% | ||
| Q2 24 | 2.5% | 29.3% | ||
| Q1 24 | -1.4% | 24.1% |
净利率CAPLCROX
| Q4 25 | 1.2% | 11.0% | ||
| Q3 25 | 1.4% | 14.6% | ||
| Q2 25 | 2.6% | -42.8% | ||
| Q1 25 | -0.8% | 17.1% | ||
| Q4 24 | 1.8% | 37.3% | ||
| Q3 24 | 1.0% | 18.8% | ||
| Q2 24 | 1.1% | 20.6% | ||
| Q1 24 | -1.9% | 16.2% |
每股收益（稀释后）CAPLCROX
| Q4 25 | $0.24 | $1.79 | ||
| Q3 25 | $0.34 | $2.70 | ||
| Q2 25 | $0.64 | $-8.82 | ||
| Q1 25 | $-0.20 | $2.83 | ||
| Q4 24 | $0.42 | $6.25 | ||
| Q3 24 | $0.27 | $3.36 | ||
| Q2 24 | $0.31 | $3.77 | ||
| Q1 24 | $-0.48 | $2.50 |
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 | $3.1M | $130.4M |
| 总债务越低越好 | $687.2M | — |
| 股东权益账面价值 | — | $1.3B |
| 总资产 | $964.7M | $4.2B |
| 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CAPLCROX
| Q4 25 | $3.1M | $130.4M | ||
| Q3 25 | $5.8M | $154.0M | ||
| Q2 25 | $9.7M | $200.6M | ||
| Q1 25 | $6.7M | $166.5M | ||
| Q4 24 | $3.4M | $180.5M | ||
| Q3 24 | $7.8M | $186.1M | ||
| Q2 24 | $5.5M | $167.7M | ||
| Q1 24 | $6.3M | $159.3M |
总债务CAPLCROX
| Q4 25 | $687.2M | — | ||
| Q3 25 | $700.8M | — | ||
| Q2 25 | $722.7M | — | ||
| Q1 25 | $774.1M | — | ||
| Q4 24 | $763.9M | — | ||
| Q3 24 | $769.2M | — | ||
| Q2 24 | $786.7M | — | ||
| Q1 24 | $795.8M | — |
股东权益CAPLCROX
| Q4 25 | — | $1.3B | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $2.0B | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $1.7B | ||
| Q1 24 | — | $1.6B |
总资产CAPLCROX
| Q4 25 | $964.7M | $4.2B | ||
| Q3 25 | $998.9M | $4.3B | ||
| Q2 25 | $1.0B | $4.5B | ||
| Q1 25 | $1.1B | $5.1B | ||
| Q4 24 | $1.1B | $4.8B | ||
| Q3 24 | $1.1B | $4.7B | ||
| Q2 24 | $1.2B | $4.7B | ||
| Q1 24 | $1.2B | $4.8B |
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 | $29.4M | $252.5M |
| 自由现金流经营现金流 - 资本支出 | $22.4M | $246.4M |
| 自由现金流率自由现金流/营收 | 2.6% | 25.7% |
| 资本支出强度资本支出/营收 | 0.8% | 0.6% |
| 现金转化率经营现金流/净利润 | 2.89× | 2.40× |
| 过去12个月自由现金流最近4个季度 | $55.8M | $659.2M |
8季度趋势，按日历期对齐
经营现金流CAPLCROX
| Q4 25 | $29.4M | $252.5M | ||
| Q3 25 | $24.4M | $239.3M | ||
| Q2 25 | $22.6M | $285.8M | ||
| Q1 25 | $15.0M | $-67.2M | ||
| Q4 24 | $11.1M | $321.9M | ||
| Q3 24 | $41.9M | $296.9M | ||
| Q2 24 | $28.9M | $401.2M | ||
| Q1 24 | $5.8M | $-27.6M |
自由现金流CAPLCROX
| Q4 25 | $22.4M | $246.4M | ||
| Q3 25 | $17.7M | $226.2M | ||
| Q2 25 | $10.8M | $269.2M | ||
| Q1 25 | $4.9M | $-82.6M | ||
| Q4 24 | $3.9M | $303.4M | ||
| Q3 24 | $34.2M | $278.8M | ||
| Q2 24 | $23.6M | $384.2M | ||
| Q1 24 | $-289.0K | $-43.3M |
自由现金流率CAPLCROX
| Q4 25 | 2.6% | 25.7% | ||
| Q3 25 | 1.8% | 22.7% | ||
| Q2 25 | 1.1% | 23.4% | ||
| Q1 25 | 0.6% | -8.8% | ||
| Q4 24 | 0.4% | 30.7% | ||
| Q3 24 | 3.2% | 26.3% | ||
| Q2 24 | 2.1% | 34.6% | ||
| Q1 24 | -0.0% | -4.6% |
资本支出强度CAPLCROX
| Q4 25 | 0.8% | 0.6% | ||
| Q3 25 | 0.7% | 1.3% | ||
| Q2 25 | 1.2% | 1.4% | ||
| Q1 25 | 1.2% | 1.6% | ||
| Q4 24 | 0.8% | 1.9% | ||
| Q3 24 | 0.7% | 1.7% | ||
| Q2 24 | 0.5% | 1.5% | ||
| Q1 24 | 0.6% | 1.7% |
现金转化率CAPLCROX
| Q4 25 | 2.89× | 2.40× | ||
| Q3 25 | 1.79× | 1.64× | ||
| Q2 25 | 0.90× | — | ||
| Q1 25 | — | -0.42× | ||
| Q4 24 | 0.66× | 0.87× | ||
| Q3 24 | 3.92× | 1.49× | ||
| Q2 24 | 2.33× | 1.75× | ||
| Q1 24 | — | -0.18× |
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
CAPL
| Retail Segment | $505.3M | 58% |
| Wholesale | $360.9M | 42% |
| Other | $1.2M | 0% |
CROX
| Sales Channel Directly To Consumer | $333.2M | 35% |
| Other | $332.1M | 35% |
| HEYDUDE Brand Segment | $189.3M | 20% |
| Sales Channel Through Intermediary Wholesale | $103.1M | 11% |
