vs
CrossAmerica Partners LP（CAPL）与利氏兄弟拍卖行（RBA）财务数据对比。点击上方公司名可切换其他公司
利氏兄弟拍卖行的季度营收约是CrossAmerica Partners LP的1.4倍（$1.2B vs $866.3M），利氏兄弟拍卖行净利率更高（9.1% vs 1.2%，领先7.9%），利氏兄弟拍卖行同比增速更快（5.4% vs -8.3%），利氏兄弟拍卖行自由现金流更多（$186.5M vs $22.4M），过去两年利氏兄弟拍卖行的营收复合增速更高（6.3% 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。
利氏兄弟拍卖行（股票代码RBA）是全球知名的工业资产拍卖服务商，注册地位于加拿大，属公开上市企业，总部设在美国伊利诺伊州韦斯特切斯特，普通股同时在多伦多证券交易所与纽约证券交易所挂牌交易。
CAPL vs RBA — 直观对比
营收规模更大
RBA
是对方的1.4倍
$866.3M
营收增速更快
RBA
高出13.7%
-8.3%
净利率更高
RBA
高出7.9%
1.2%
自由现金流更多
RBA
多$164.1M
$22.4M
两年增速更快
RBA
近两年复合增速
-4.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $866.3M | $1.2B |
| 净利润 | $10.2M | $109.7M |
| 毛利率 | 12.4% | — |
| 营业利润率 | 3.0% | 14.7% |
| 净利率 | 1.2% | 9.1% |
| 营收同比 | -8.3% | 5.4% |
| 净利润同比 | -39.6% | -7.4% |
| 每股收益（稀释后） | $0.24 | $0.53 |
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CAPLRBA
| Q4 25 | $866.3M | $1.2B | ||
| Q3 25 | $971.8M | $1.1B | ||
| Q2 25 | $961.9M | $1.2B | ||
| Q1 25 | $862.5M | $1.1B | ||
| Q4 24 | $944.2M | $1.1B | ||
| Q3 24 | $1.1B | $981.8M | ||
| Q2 24 | $1.1B | $1.1B | ||
| Q1 24 | $941.5M | $1.1B |
净利润CAPLRBA
| Q4 25 | $10.2M | $109.7M | ||
| Q3 25 | $13.6M | $95.5M | ||
| Q2 25 | $25.2M | $109.8M | ||
| Q1 25 | $-7.1M | $113.4M | ||
| Q4 24 | $16.9M | $118.5M | ||
| Q3 24 | $10.7M | $76.1M | ||
| Q2 24 | $12.4M | $111.1M | ||
| Q1 24 | $-17.5M | $107.4M |
毛利率CAPLRBA
| Q4 25 | 12.4% | — | ||
| Q3 25 | 10.8% | — | ||
| Q2 25 | 10.5% | — | ||
| Q1 25 | 10.4% | — | ||
| Q4 24 | 10.7% | — | ||
| Q3 24 | 10.3% | — | ||
| Q2 24 | 9.2% | — | ||
| Q1 24 | 8.6% | — |
营业利润率CAPLRBA
| Q4 25 | 3.0% | 14.7% | ||
| Q3 25 | 2.9% | 14.5% | ||
| Q2 25 | 4.3% | 15.9% | ||
| Q1 25 | 0.2% | 17.1% | ||
| Q4 24 | 3.0% | 18.1% | ||
| Q3 24 | 2.5% | 15.6% | ||
| Q2 24 | 2.5% | 18.4% | ||
| Q1 24 | -1.4% | 18.7% |
净利率CAPLRBA
| Q4 25 | 1.2% | 9.1% | ||
| Q3 25 | 1.4% | 8.7% | ||
| Q2 25 | 2.6% | 9.3% | ||
| Q1 25 | -0.8% | 10.2% | ||
| Q4 24 | 1.8% | 10.4% | ||
| Q3 24 | 1.0% | 7.8% | ||
| Q2 24 | 1.1% | 10.1% | ||
| Q1 24 | -1.9% | 10.1% |
每股收益（稀释后）CAPLRBA
| Q4 25 | $0.24 | $0.53 | ||
| Q3 25 | $0.34 | $0.43 | ||
| Q2 25 | $0.64 | $0.53 | ||
| Q1 25 | $-0.20 | $0.55 | ||
| Q4 24 | $0.42 | $0.58 | ||
| Q3 24 | $0.27 | $0.36 | ||
| Q2 24 | $0.31 | $0.54 | ||
| Q1 24 | $-0.48 | $0.53 |
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 | $531.5M |
| 总债务越低越好 | $687.2M | $2.3B |
| 股东权益账面价值 | — | $5.6B |
| 总资产 | $964.7M | $12.1B |
| 负债/权益比越低杠杆越低 | — | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资CAPLRBA
| Q4 25 | $3.1M | $531.5M | ||
| Q3 25 | $5.8M | $674.7M | ||
| Q2 25 | $9.7M | $710.2M | ||
| Q1 25 | $6.7M | $578.1M | ||
| Q4 24 | $3.4M | $533.9M | ||
| Q3 24 | $7.8M | $650.7M | ||
| Q2 24 | $5.5M | $599.5M | ||
| Q1 24 | $6.3M | $462.8M |
总债务CAPLRBA
| Q4 25 | $687.2M | $2.3B | ||
| Q3 25 | $700.8M | $2.6B | ||
| Q2 25 | $722.7M | $2.6B | ||
| Q1 25 | $774.1M | $2.6B | ||
| Q4 24 | $763.9M | $2.6B | ||
| Q3 24 | $769.2M | $2.7B | ||
| Q2 24 | $786.7M | $2.8B | ||
| Q1 24 | $795.8M | $2.9B |
股东权益CAPLRBA
| Q4 25 | — | $5.6B | ||
| Q3 25 | — | $5.5B | ||
| Q2 25 | — | $5.5B | ||
| Q1 25 | — | $5.3B | ||
| Q4 24 | — | $5.2B | ||
| Q3 24 | — | $5.2B | ||
| Q2 24 | — | $5.2B | ||
| Q1 24 | — | $5.1B |
总资产CAPLRBA
| Q4 25 | $964.7M | $12.1B | ||
| Q3 25 | $998.9M | $12.2B | ||
| Q2 25 | $1.0B | $12.2B | ||
| Q1 25 | $1.1B | $11.9B | ||
| Q4 24 | $1.1B | $11.8B | ||
| Q3 24 | $1.1B | $11.9B | ||
| Q2 24 | $1.2B | $12.1B | ||
| Q1 24 | $1.2B | $12.0B |
负债/权益比CAPLRBA
| Q4 25 | — | 0.42× | ||
| Q3 25 | — | 0.47× | ||
| Q2 25 | — | 0.47× | ||
| Q1 25 | — | 0.50× | ||
| Q4 24 | — | 0.50× | ||
| Q3 24 | — | 0.52× | ||
| Q2 24 | — | 0.55× | ||
| 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 | $255.2M |
| 自由现金流经营现金流 - 资本支出 | $22.4M | $186.5M |
| 自由现金流率自由现金流/营收 | 2.6% | 15.5% |
| 资本支出强度资本支出/营收 | 0.8% | 5.7% |
| 现金转化率经营现金流/净利润 | 2.89× | 2.33× |
| 过去12个月自由现金流最近4个季度 | $55.8M | $719.2M |
8季度趋势，按日历期对齐
经营现金流CAPLRBA
| Q4 25 | $29.4M | $255.2M | ||
| Q3 25 | $24.4M | $239.7M | ||
| Q2 25 | $22.6M | $326.5M | ||
| Q1 25 | $15.0M | $156.8M | ||
| Q4 24 | $11.1M | $184.5M | ||
| Q3 24 | $41.9M | $285.4M | ||
| Q2 24 | $28.9M | $337.3M | ||
| Q1 24 | $5.8M | $124.8M |
自由现金流CAPLRBA
| Q4 25 | $22.4M | $186.5M | ||
| Q3 25 | $17.7M | $188.5M | ||
| Q2 25 | $10.8M | $241.7M | ||
| Q1 25 | $4.9M | $102.5M | ||
| Q4 24 | $3.9M | $127.9M | ||
| Q3 24 | $34.2M | $248.5M | ||
| Q2 24 | $23.6M | $308.6M | ||
| Q1 24 | $-289.0K | $79.6M |
自由现金流率CAPLRBA
| Q4 25 | 2.6% | 15.5% | ||
| Q3 25 | 1.8% | 17.3% | ||
| Q2 25 | 1.1% | 20.4% | ||
| Q1 25 | 0.6% | 9.2% | ||
| Q4 24 | 0.4% | 11.2% | ||
| Q3 24 | 3.2% | 25.3% | ||
| Q2 24 | 2.1% | 28.2% | ||
| Q1 24 | -0.0% | 7.5% |
资本支出强度CAPLRBA
| Q4 25 | 0.8% | 5.7% | ||
| Q3 25 | 0.7% | 4.7% | ||
| Q2 25 | 1.2% | 7.2% | ||
| Q1 25 | 1.2% | 4.9% | ||
| Q4 24 | 0.8% | 5.0% | ||
| Q3 24 | 0.7% | 3.8% | ||
| Q2 24 | 0.5% | 2.6% | ||
| Q1 24 | 0.6% | 4.2% |
现金转化率CAPLRBA
| Q4 25 | 2.89× | 2.33× | ||
| Q3 25 | 1.79× | 2.51× | ||
| Q2 25 | 0.90× | 2.97× | ||
| Q1 25 | — | 1.38× | ||
| Q4 24 | 0.66× | 1.56× | ||
| Q3 24 | 3.92× | 3.75× | ||
| Q2 24 | 2.33× | 3.04× | ||
| Q1 24 | — | 1.16× |
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% |
RBA
| Buyer Revenue | $577.2M | 48% |
| Seller Revenue | $255.2M | 21% |
| CA | $199.0M | 17% |
| Other | $124.7M | 10% |
| AU | $47.3M | 4% |
