vs
CrossAmerica Partners LP（CAPL）与北极星（PII）财务数据对比。点击上方公司名可切换其他公司
北极星的季度营收约是CrossAmerica Partners LP的1.9倍（$1.7B vs $866.3M），CrossAmerica Partners LP净利率更高（1.2% vs -2.8%，领先4.0%），北极星同比增速更快（8.0% vs -8.3%），CrossAmerica Partners LP自由现金流更多（$22.4M vs $-342.5M），过去两年CrossAmerica Partners LP的营收复合增速更高（-4.1% vs -8.0%）
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。
北极星公司（Polaris Inc.）是总部位于美国明尼苏达州麦地那的机动车制造企业，创立于明尼苏达州罗索，当地目前仍保留其工程研发与生产设施。公司曾通过胜利摩托子公司生产摩托车，2011年收购印第安摩托品牌后转由该子公司运营摩托业务，此前还曾生产私人水上摩托艇产品。
CAPL vs PII — 直观对比
营收规模更大
PII
是对方的1.9倍
$866.3M
营收增速更快
PII
高出16.3%
-8.3%
净利率更高
CAPL
高出4.0%
-2.8%
自由现金流更多
CAPL
多$364.9M
$-342.5M
两年增速更快
CAPL
近两年复合增速
-8.0%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $866.3M | $1.7B |
| 净利润 | $10.2M | $-47.2M |
| 毛利率 | 12.4% | 20.2% |
| 营业利润率 | 3.0% | 76.5% |
| 净利率 | 1.2% | -2.8% |
| 营收同比 | -8.3% | 8.0% |
| 净利润同比 | -39.6% | 29.0% |
| 每股收益（稀释后） | $0.24 | $-0.83 |
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CAPLPII
| Q1 26 | — | $1.7B | ||
| Q4 25 | $866.3M | $1.9B | ||
| Q3 25 | $971.8M | $1.8B | ||
| Q2 25 | $961.9M | $1.9B | ||
| Q1 25 | $862.5M | $1.5B | ||
| Q4 24 | $944.2M | $1.8B | ||
| Q3 24 | $1.1B | $1.7B | ||
| Q2 24 | $1.1B | $2.0B |
净利润CAPLPII
| Q1 26 | — | $-47.2M | ||
| Q4 25 | $10.2M | $-303.6M | ||
| Q3 25 | $13.6M | $-15.8M | ||
| Q2 25 | $25.2M | $-79.3M | ||
| Q1 25 | $-7.1M | $-66.8M | ||
| Q4 24 | $16.9M | $10.6M | ||
| Q3 24 | $10.7M | $27.7M | ||
| Q2 24 | $12.4M | $68.7M |
毛利率CAPLPII
| Q1 26 | — | 20.2% | ||
| Q4 25 | 12.4% | 20.0% | ||
| Q3 25 | 10.8% | 20.7% | ||
| Q2 25 | 10.5% | 19.4% | ||
| Q1 25 | 10.4% | 16.0% | ||
| Q4 24 | 10.7% | 20.4% | ||
| Q3 24 | 10.3% | 20.6% | ||
| Q2 24 | 9.2% | 21.6% |
营业利润率CAPLPII
| Q1 26 | — | 76.5% | ||
| Q4 25 | 3.0% | -16.7% | ||
| Q3 25 | 2.9% | 1.1% | ||
| Q2 25 | 4.3% | -0.7% | ||
| Q1 25 | 0.2% | -2.4% | ||
| Q4 24 | 3.0% | 3.7% | ||
| Q3 24 | 2.5% | 3.8% | ||
| Q2 24 | 2.5% | 6.1% |
净利率CAPLPII
| Q1 26 | — | -2.8% | ||
| Q4 25 | 1.2% | -15.8% | ||
| Q3 25 | 1.4% | -0.9% | ||
| Q2 25 | 2.6% | -4.3% | ||
| Q1 25 | -0.8% | -4.3% | ||
| Q4 24 | 1.8% | 0.6% | ||
| Q3 24 | 1.0% | 1.6% | ||
| Q2 24 | 1.1% | 3.5% |
每股收益（稀释后）CAPLPII
| Q1 26 | — | $-0.83 | ||
| Q4 25 | $0.24 | $-5.34 | ||
| Q3 25 | $0.34 | $-0.28 | ||
| Q2 25 | $0.64 | $-1.39 | ||
| Q1 25 | $-0.20 | $-1.17 | ||
| Q4 24 | $0.42 | $0.18 | ||
| Q3 24 | $0.27 | $0.49 | ||
| Q2 24 | $0.31 | $1.21 |
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 | $282.0M |
| 总债务越低越好 | $687.2M | — |
| 股东权益账面价值 | — | $750.4M |
| 总资产 | $964.7M | $5.2B |
| 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CAPLPII
| Q1 26 | — | $282.0M | ||
| Q4 25 | $3.1M | $138.0M | ||
| Q3 25 | $5.8M | $335.5M | ||
| Q2 25 | $9.7M | $324.3M | ||
| Q1 25 | $6.7M | $291.7M | ||
| Q4 24 | $3.4M | $287.8M | ||
| Q3 24 | $7.8M | $291.3M | ||
| Q2 24 | $5.5M | $322.7M |
总债务CAPLPII
| Q1 26 | — | — | ||
| Q4 25 | $687.2M | $1.5B | ||
| Q3 25 | $700.8M | $1.3B | ||
| Q2 25 | $722.7M | $1.4B | ||
| Q1 25 | $774.1M | $1.6B | ||
| Q4 24 | $763.9M | $1.6B | ||
| Q3 24 | $769.2M | $1.7B | ||
| Q2 24 | $786.7M | $2.1B |
股东权益CAPLPII
| Q1 26 | — | $750.4M | ||
| Q4 25 | — | $828.4M | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | $1.3B | ||
| Q2 24 | — | $1.3B |
总资产CAPLPII
| Q1 26 | — | $5.2B | ||
| Q4 25 | $964.7M | $4.9B | ||
| Q3 25 | $998.9M | $5.3B | ||
| Q2 25 | $1.0B | $5.4B | ||
| Q1 25 | $1.1B | $5.5B | ||
| Q4 24 | $1.1B | $5.5B | ||
| Q3 24 | $1.1B | $5.6B | ||
| Q2 24 | $1.2B | $5.7B |
负债/权益比CAPLPII
| Q1 26 | — | — | ||
| Q4 25 | — | 1.82× | ||
| Q3 25 | — | 1.13× | ||
| Q2 25 | — | 1.17× | ||
| Q1 25 | — | 1.32× | ||
| Q4 24 | — | 1.27× | ||
| Q3 24 | — | 1.29× | ||
| Q2 24 | — | 1.56× |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $22.4M | $-342.5M |
| 自由现金流率自由现金流/营收 | 2.6% | -20.6% |
| 资本支出强度资本支出/营收 | 0.8% | — |
| 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 | $168.0M |
8季度趋势，按日历期对齐
经营现金流CAPLPII
| Q1 26 | — | — | ||
| Q4 25 | $29.4M | $178.7M | ||
| Q3 25 | $24.4M | $158.8M | ||
| Q2 25 | $22.6M | $320.3M | ||
| Q1 25 | $15.0M | $83.2M | ||
| Q4 24 | $11.1M | $206.3M | ||
| Q3 24 | $41.9M | $21.0M | ||
| Q2 24 | $28.9M | $146.3M |
自由现金流CAPLPII
| Q1 26 | — | $-342.5M | ||
| Q4 25 | $22.4M | $114.0M | ||
| Q3 25 | $17.7M | $116.7M | ||
| Q2 25 | $10.8M | $279.8M | ||
| Q1 25 | $4.9M | $47.6M | ||
| Q4 24 | $3.9M | $137.3M | ||
| Q3 24 | $34.2M | $-32.4M | ||
| Q2 24 | $23.6M | $79.1M |
自由现金流率CAPLPII
| Q1 26 | — | -20.6% | ||
| Q4 25 | 2.6% | 5.9% | ||
| Q3 25 | 1.8% | 6.3% | ||
| Q2 25 | 1.1% | 15.1% | ||
| Q1 25 | 0.6% | 3.1% | ||
| Q4 24 | 0.4% | 7.8% | ||
| Q3 24 | 3.2% | -1.9% | ||
| Q2 24 | 2.1% | 4.0% |
资本支出强度CAPLPII
| Q1 26 | — | — | ||
| Q4 25 | 0.8% | 3.4% | ||
| Q3 25 | 0.7% | 2.3% | ||
| Q2 25 | 1.2% | 2.2% | ||
| Q1 25 | 1.2% | 2.3% | ||
| Q4 24 | 0.8% | 3.9% | ||
| Q3 24 | 0.7% | 3.1% | ||
| Q2 24 | 0.5% | 3.4% |
现金转化率CAPLPII
| Q1 26 | — | — | ||
| Q4 25 | 2.89× | — | ||
| Q3 25 | 1.79× | — | ||
| Q2 25 | 0.90× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.66× | 19.46× | ||
| Q3 24 | 3.92× | 0.76× | ||
| Q2 24 | 2.33× | 2.13× |
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% |
PII
暂无分部数据
