vs
CrossAmerica Partners LP（CAPL）与玛斯特锁（MBC）财务数据对比。点击上方公司名可切换其他公司
CrossAmerica Partners LP的季度营收约是玛斯特锁的1.3倍（$866.3M vs $644.6M），CrossAmerica Partners LP净利率更高（1.2% vs -6.5%，领先7.7%），玛斯特锁同比增速更快（-3.5% vs -8.3%），玛斯特锁自由现金流更多（$52.5M vs $22.4M），过去两年玛斯特锁的营收复合增速更高（0.5% 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。
玛斯特锁是美国知名安防产品供应商，1921年由锁匠发明家哈里·索雷夫创立，总部位于威斯康星州奥克里克，主营挂锁、密码锁、保险箱及相关安防产品，现为富俊创新集团旗下子公司，在全球安防锁具领域拥有较高的市场认可度。
CAPL vs MBC — 直观对比
营收规模更大
CAPL
是对方的1.3倍
$644.6M
营收增速更快
MBC
高出4.8%
-8.3%
净利率更高
CAPL
高出7.7%
-6.5%
自由现金流更多
MBC
多$30.1M
$22.4M
两年增速更快
MBC
近两年复合增速
-4.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $866.3M | $644.6M |
| 净利润 | $10.2M | $-42.0M |
| 毛利率 | 12.4% | 26.0% |
| 营业利润率 | 3.0% | -4.2% |
| 净利率 | 1.2% | -6.5% |
| 营收同比 | -8.3% | -3.5% |
| 净利润同比 | -39.6% | -400.0% |
| 每股收益（稀释后） | $0.24 | $-0.32 |
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CAPLMBC
| Q4 25 | $866.3M | $644.6M | ||
| Q3 25 | $971.8M | $698.9M | ||
| Q2 25 | $961.9M | $730.9M | ||
| Q1 25 | $862.5M | $660.3M | ||
| Q4 24 | $944.2M | $667.7M | ||
| Q3 24 | $1.1B | $718.1M | ||
| Q2 24 | $1.1B | $676.5M | ||
| Q1 24 | $941.5M | $638.1M |
净利润CAPLMBC
| Q4 25 | $10.2M | $-42.0M | ||
| Q3 25 | $13.6M | $18.1M | ||
| Q2 25 | $25.2M | $37.3M | ||
| Q1 25 | $-7.1M | $13.3M | ||
| Q4 24 | $16.9M | $14.0M | ||
| Q3 24 | $10.7M | $29.1M | ||
| Q2 24 | $12.4M | $45.3M | ||
| Q1 24 | $-17.5M | $37.5M |
毛利率CAPLMBC
| Q4 25 | 12.4% | 26.0% | ||
| Q3 25 | 10.8% | 31.2% | ||
| Q2 25 | 10.5% | 32.8% | ||
| Q1 25 | 10.4% | 30.6% | ||
| Q4 24 | 10.7% | 30.4% | ||
| Q3 24 | 10.3% | 33.1% | ||
| Q2 24 | 9.2% | 34.1% | ||
| Q1 24 | 8.6% | 32.1% |
营业利润率CAPLMBC
| Q4 25 | 3.0% | -4.2% | ||
| Q3 25 | 2.9% | 6.0% | ||
| Q2 25 | 4.3% | 9.2% | ||
| Q1 25 | 0.2% | 5.6% | ||
| Q4 24 | 3.0% | 5.6% | ||
| Q3 24 | 2.5% | 8.0% | ||
| Q2 24 | 2.5% | 11.5% | ||
| Q1 24 | -1.4% | 9.8% |
净利率CAPLMBC
| Q4 25 | 1.2% | -6.5% | ||
| Q3 25 | 1.4% | 2.6% | ||
| Q2 25 | 2.6% | 5.1% | ||
| Q1 25 | -0.8% | 2.0% | ||
| Q4 24 | 1.8% | 2.1% | ||
| Q3 24 | 1.0% | 4.1% | ||
| Q2 24 | 1.1% | 6.7% | ||
| Q1 24 | -1.9% | 5.9% |
每股收益（稀释后）CAPLMBC
| Q4 25 | $0.24 | $-0.32 | ||
| Q3 25 | $0.34 | $0.14 | ||
| Q2 25 | $0.64 | $0.29 | ||
| Q1 25 | $-0.20 | $0.10 | ||
| Q4 24 | $0.42 | $0.10 | ||
| Q3 24 | $0.27 | $0.22 | ||
| Q2 24 | $0.31 | $0.35 | ||
| Q1 24 | $-0.48 | $0.29 |
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 | $183.3M |
| 总债务越低越好 | $687.2M | — |
| 股东权益账面价值 | — | $1.3B |
| 总资产 | $964.7M | $3.1B |
| 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CAPLMBC
| Q4 25 | $3.1M | $183.3M | ||
| Q3 25 | $5.8M | $114.8M | ||
| Q2 25 | $9.7M | $120.1M | ||
| Q1 25 | $6.7M | $113.5M | ||
| Q4 24 | $3.4M | $120.6M | ||
| Q3 24 | $7.8M | $108.4M | ||
| Q2 24 | $5.5M | $189.4M | ||
| Q1 24 | $6.3M | $153.7M |
总债务CAPLMBC
| Q4 25 | $687.2M | — | ||
| Q3 25 | $700.8M | — | ||
| Q2 25 | $722.7M | — | ||
| Q1 25 | $774.1M | — | ||
| Q4 24 | $763.9M | $1.0B | ||
| Q3 24 | $769.2M | $1.1B | ||
| Q2 24 | $786.7M | — | ||
| Q1 24 | $795.8M | — |
股东权益CAPLMBC
| Q4 25 | — | $1.3B | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | $1.3B | ||
| Q2 24 | — | $1.3B | ||
| Q1 24 | — | $1.2B |
总资产CAPLMBC
| Q4 25 | $964.7M | $3.1B | ||
| Q3 25 | $998.9M | $3.0B | ||
| Q2 25 | $1.0B | $3.0B | ||
| Q1 25 | $1.1B | $3.0B | ||
| Q4 24 | $1.1B | $2.9B | ||
| Q3 24 | $1.1B | $3.0B | ||
| Q2 24 | $1.2B | $2.4B | ||
| Q1 24 | $1.2B | $2.4B |
负债/权益比CAPLMBC
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.79× | ||
| Q3 24 | — | 0.83× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $86.9M |
| 自由现金流经营现金流 - 资本支出 | $22.4M | $52.5M |
| 自由现金流率自由现金流/营收 | 2.6% | 8.1% |
| 资本支出强度资本支出/营收 | 0.8% | 5.3% |
| 现金转化率经营现金流/净利润 | 2.89× | — |
| 过去12个月自由现金流最近4个季度 | $55.8M | $117.5M |
8季度趋势，按日历期对齐
经营现金流CAPLMBC
| Q4 25 | $29.4M | $86.9M | ||
| Q3 25 | $24.4M | $55.4M | ||
| Q2 25 | $22.6M | $84.8M | ||
| Q1 25 | $15.0M | $-31.4M | ||
| Q4 24 | $11.1M | $115.1M | ||
| Q3 24 | $41.9M | $80.8M | ||
| Q2 24 | $28.9M | $77.4M | ||
| Q1 24 | $5.8M | $18.7M |
自由现金流CAPLMBC
| Q4 25 | $22.4M | $52.5M | ||
| Q3 25 | $17.7M | $39.5M | ||
| Q2 25 | $10.8M | $66.7M | ||
| Q1 25 | $4.9M | $-41.2M | ||
| Q4 24 | $3.9M | $68.8M | ||
| Q3 24 | $34.2M | $64.5M | ||
| Q2 24 | $23.6M | $66.1M | ||
| Q1 24 | $-289.0K | $11.7M |
自由现金流率CAPLMBC
| Q4 25 | 2.6% | 8.1% | ||
| Q3 25 | 1.8% | 5.7% | ||
| Q2 25 | 1.1% | 9.1% | ||
| Q1 25 | 0.6% | -6.2% | ||
| Q4 24 | 0.4% | 10.3% | ||
| Q3 24 | 3.2% | 9.0% | ||
| Q2 24 | 2.1% | 9.8% | ||
| Q1 24 | -0.0% | 1.8% |
资本支出强度CAPLMBC
| Q4 25 | 0.8% | 5.3% | ||
| Q3 25 | 0.7% | 2.3% | ||
| Q2 25 | 1.2% | 2.5% | ||
| Q1 25 | 1.2% | 1.5% | ||
| Q4 24 | 0.8% | 6.9% | ||
| Q3 24 | 0.7% | 2.3% | ||
| Q2 24 | 0.5% | 1.7% | ||
| Q1 24 | 0.6% | 1.1% |
现金转化率CAPLMBC
| Q4 25 | 2.89× | — | ||
| Q3 25 | 1.79× | 3.06× | ||
| Q2 25 | 0.90× | 2.27× | ||
| Q1 25 | — | -2.36× | ||
| Q4 24 | 0.66× | 8.22× | ||
| Q3 24 | 3.92× | 2.78× | ||
| Q2 24 | 2.33× | 1.71× | ||
| Q1 24 | — | 0.50× |
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% |
MBC
| Dealers | $345.7M | 54% |
| Retail | $220.0M | 34% |
| Builders | $78.9M | 12% |
