vs
CrossAmerica Partners LP（CAPL）与帕森斯公司（PSN）财务数据对比。点击上方公司名可切换其他公司
帕森斯公司的季度营收约是CrossAmerica Partners LP的1.9倍（$1.6B vs $866.3M），帕森斯公司净利率更高（3.5% vs 1.2%，领先2.3%），帕森斯公司同比增速更快（-7.5% vs -8.3%），帕森斯公司自由现金流更多（$135.6M vs $22.4M），过去两年帕森斯公司的营收复合增速更高（2.2% 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。
帕森斯公司是一家总部位于美国弗吉尼亚州尚蒂利的跨国企业，1944年成立，核心业务覆盖国防、情报、基础设施工程领域，深耕技术研发，在全球30多个国家为政府及私营部门客户提供专业解决方案。
CAPL vs PSN — 直观对比
营收规模更大
PSN
是对方的1.9倍
$866.3M
营收增速更快
PSN
高出0.7%
-8.3%
净利率更高
PSN
高出2.3%
1.2%
自由现金流更多
PSN
多$113.2M
$22.4M
两年增速更快
PSN
近两年复合增速
-4.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $866.3M | $1.6B |
| 净利润 | $10.2M | $55.6M |
| 毛利率 | 12.4% | 23.0% |
| 营业利润率 | 3.0% | 6.6% |
| 净利率 | 1.2% | 3.5% |
| 营收同比 | -8.3% | -7.5% |
| 净利润同比 | -39.6% | -72.4% |
| 每股收益（稀释后） | $0.24 | $0.51 |
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CAPLPSN
| Q4 25 | $866.3M | $1.6B | ||
| Q3 25 | $971.8M | $1.6B | ||
| Q2 25 | $961.9M | $1.6B | ||
| Q1 25 | $862.5M | $1.6B | ||
| Q4 24 | $944.2M | $1.7B | ||
| Q3 24 | $1.1B | $1.8B | ||
| Q2 24 | $1.1B | $1.7B | ||
| Q1 24 | $941.5M | $1.5B |
净利润CAPLPSN
| Q4 25 | $10.2M | $55.6M | ||
| Q3 25 | $13.6M | $64.1M | ||
| Q2 25 | $25.2M | $55.2M | ||
| Q1 25 | $-7.1M | $66.2M | ||
| Q4 24 | $16.9M | $201.3M | ||
| Q3 24 | $10.7M | $72.0M | ||
| Q2 24 | $12.4M | $69.2M | ||
| Q1 24 | $-17.5M | $-107.4M |
毛利率CAPLPSN
| Q4 25 | 12.4% | 23.0% | ||
| Q3 25 | 10.8% | 22.2% | ||
| Q2 25 | 10.5% | 22.0% | ||
| Q1 25 | 10.4% | 22.8% | ||
| Q4 24 | 10.7% | 21.3% | ||
| Q3 24 | 10.3% | 19.9% | ||
| Q2 24 | 9.2% | 21.0% | ||
| Q1 24 | 8.6% | 21.2% |
营业利润率CAPLPSN
| Q4 25 | 3.0% | 6.6% | ||
| Q3 25 | 2.9% | 6.7% | ||
| Q2 25 | 4.3% | 6.0% | ||
| Q1 25 | 0.2% | 7.0% | ||
| Q4 24 | 3.0% | 5.8% | ||
| Q3 24 | 2.5% | 6.4% | ||
| Q2 24 | 2.5% | 6.7% | ||
| Q1 24 | -1.4% | 6.6% |
净利率CAPLPSN
| Q4 25 | 1.2% | 3.5% | ||
| Q3 25 | 1.4% | 4.0% | ||
| Q2 25 | 2.6% | 3.5% | ||
| Q1 25 | -0.8% | 4.3% | ||
| Q4 24 | 1.8% | 11.6% | ||
| Q3 24 | 1.0% | 4.0% | ||
| Q2 24 | 1.1% | 4.1% | ||
| Q1 24 | -1.9% | -7.0% |
每股收益（稀释后）CAPLPSN
| Q4 25 | $0.24 | $0.51 | ||
| Q3 25 | $0.34 | $0.59 | ||
| Q2 25 | $0.64 | $0.50 | ||
| Q1 25 | $-0.20 | $0.60 | ||
| Q4 24 | $0.42 | $1.85 | ||
| Q3 24 | $0.27 | $0.65 | ||
| Q2 24 | $0.31 | $0.63 | ||
| Q1 24 | $-0.48 | $-1.01 |
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 | $466.4M |
| 总债务越低越好 | $687.2M | $1.2B |
| 股东权益账面价值 | — | $2.6B |
| 总资产 | $964.7M | $5.8B |
| 负债/权益比越低杠杆越低 | — | 0.47× |
8季度趋势，按日历期对齐
现金及短期投资CAPLPSN
| Q4 25 | $3.1M | $466.4M | ||
| Q3 25 | $5.8M | $422.6M | ||
| Q2 25 | $9.7M | $411.3M | ||
| Q1 25 | $6.7M | $269.7M | ||
| Q4 24 | $3.4M | $453.5M | ||
| Q3 24 | $7.8M | $558.8M | ||
| Q2 24 | $5.5M | $528.5M | ||
| Q1 24 | $6.3M | $423.1M |
总债务CAPLPSN
| Q4 25 | $687.2M | $1.2B | ||
| Q3 25 | $700.8M | $1.2B | ||
| Q2 25 | $722.7M | $1.2B | ||
| Q1 25 | $774.1M | $785.2M | ||
| Q4 24 | $763.9M | $784.1M | ||
| Q3 24 | $769.2M | $1.1B | ||
| Q2 24 | $786.7M | $1.2B | ||
| Q1 24 | $795.8M | $1.2B |
股东权益CAPLPSN
| Q4 25 | — | $2.6B | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | — | $2.5B | ||
| Q1 25 | — | $2.5B | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | — | $2.3B | ||
| Q2 24 | — | $2.2B | ||
| Q1 24 | — | $2.1B |
总资产CAPLPSN
| Q4 25 | $964.7M | $5.8B | ||
| Q3 25 | $998.9M | $5.7B | ||
| Q2 25 | $1.0B | $5.7B | ||
| Q1 25 | $1.1B | $5.4B | ||
| Q4 24 | $1.1B | $5.5B | ||
| Q3 24 | $1.1B | $5.4B | ||
| Q2 24 | $1.2B | $5.2B | ||
| Q1 24 | $1.2B | $5.1B |
负债/权益比CAPLPSN
| Q4 25 | — | 0.47× | ||
| Q3 25 | — | 0.48× | ||
| Q2 25 | — | 0.49× | ||
| Q1 25 | — | 0.32× | ||
| Q4 24 | — | 0.32× | ||
| Q3 24 | — | 0.49× | ||
| Q2 24 | — | 0.56× | ||
| Q1 24 | — | 0.58× |
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 | $29.4M | $167.5M |
| 自由现金流经营现金流 - 资本支出 | $22.4M | $135.6M |
| 自由现金流率自由现金流/营收 | 2.6% | 8.5% |
| 资本支出强度资本支出/营收 | 0.8% | 2.0% |
| 现金转化率经营现金流/净利润 | 2.89× | 3.01× |
| 过去12个月自由现金流最近4个季度 | $55.8M | $410.4M |
8季度趋势，按日历期对齐
经营现金流CAPLPSN
| Q4 25 | $29.4M | $167.5M | ||
| Q3 25 | $24.4M | $162.8M | ||
| Q2 25 | $22.6M | $159.8M | ||
| Q1 25 | $15.0M | $-11.8M | ||
| Q4 24 | $11.1M | $126.8M | ||
| Q3 24 | $41.9M | $299.0M | ||
| Q2 24 | $28.9M | $161.2M | ||
| Q1 24 | $5.8M | $-63.4M |
自由现金流CAPLPSN
| Q4 25 | $22.4M | $135.6M | ||
| Q3 25 | $17.7M | $149.7M | ||
| Q2 25 | $10.8M | $150.4M | ||
| Q1 25 | $4.9M | $-25.3M | ||
| Q4 24 | $3.9M | $108.0M | ||
| Q3 24 | $34.2M | $287.3M | ||
| Q2 24 | $23.6M | $152.0M | ||
| Q1 24 | $-289.0K | $-72.9M |
自由现金流率CAPLPSN
| Q4 25 | 2.6% | 8.5% | ||
| Q3 25 | 1.8% | 9.2% | ||
| Q2 25 | 1.1% | 9.5% | ||
| Q1 25 | 0.6% | -1.6% | ||
| Q4 24 | 0.4% | 6.2% | ||
| Q3 24 | 3.2% | 15.9% | ||
| Q2 24 | 2.1% | 9.1% | ||
| Q1 24 | -0.0% | -4.7% |
资本支出强度CAPLPSN
| Q4 25 | 0.8% | 2.0% | ||
| Q3 25 | 0.7% | 0.8% | ||
| Q2 25 | 1.2% | 0.6% | ||
| Q1 25 | 1.2% | 0.9% | ||
| Q4 24 | 0.8% | 1.1% | ||
| Q3 24 | 0.7% | 0.6% | ||
| Q2 24 | 0.5% | 0.6% | ||
| Q1 24 | 0.6% | 0.6% |
现金转化率CAPLPSN
| Q4 25 | 2.89× | 3.01× | ||
| Q3 25 | 1.79× | 2.54× | ||
| Q2 25 | 0.90× | 2.89× | ||
| Q1 25 | — | -0.18× | ||
| Q4 24 | 0.66× | 0.63× | ||
| Q3 24 | 3.92× | 4.16× | ||
| Q2 24 | 2.33× | 2.33× | ||
| Q1 24 | — | — |
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% |
PSN
| Unconsolidated Joint Ventures | $582.1M | 36% |
| Defense And Intelligence | $502.8M | 31% |
| Engineered Systems | $281.4M | 18% |
| Consolidated Joint Ventures | $216.7M | 14% |
| TRS Group Inc | $9.4M | 1% |
