vs
CrossAmerica Partners LP（CAPL）与Frontier Group Holdings, Inc.（ULCC）财务数据对比。点击上方公司名可切换其他公司
Frontier Group Holdings, Inc.的季度营收约是CrossAmerica Partners LP的1.2倍（$997.0M vs $866.3M），Frontier Group Holdings, Inc.净利率更高（5.3% vs 1.2%，领先4.1%），Frontier Group Holdings, Inc.同比增速更快（-0.5% vs -8.3%），CrossAmerica Partners LP自由现金流更多（$22.4M vs $-113.0M），过去两年Frontier Group Holdings, Inc.的营收复合增速更高（7.4% 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。
前沿通信母公司（Frontier Communications Parent, Inc.）是一家美国电信企业，拥有自营光纤网络，提供云服务，目前隶属于威瑞森。公司此前曾先后以公民公用事业公司、公民通信公司、前沿通信公司为名开展运营。
CAPL vs ULCC — 直观对比
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $866.3M | $997.0M |
| 净利润 | $10.2M | $53.0M |
| 毛利率 | 12.4% | — |
| 营业利润率 | 3.0% | 4.9% |
| 净利率 | 1.2% | 5.3% |
| 营收同比 | -8.3% | -0.5% |
| 净利润同比 | -39.6% | -1.9% |
| 每股收益（稀释后） | $0.24 | $0.24 |
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
| Q4 25 | $866.3M | $997.0M | ||
| Q3 25 | $971.8M | $886.0M | ||
| Q2 25 | $961.9M | $929.0M | ||
| Q1 25 | $862.5M | $912.0M | ||
| Q4 24 | $944.2M | $1.0B | ||
| Q3 24 | $1.1B | $935.0M | ||
| Q2 24 | $1.1B | $973.0M | ||
| Q1 24 | $941.5M | $865.0M |
| Q4 25 | $10.2M | $53.0M | ||
| Q3 25 | $13.6M | $-77.0M | ||
| Q2 25 | $25.2M | $-70.0M | ||
| Q1 25 | $-7.1M | $-43.0M | ||
| Q4 24 | $16.9M | $54.0M | ||
| Q3 24 | $10.7M | $26.0M | ||
| Q2 24 | $12.4M | $31.0M | ||
| Q1 24 | $-17.5M | $-26.0M |
| 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% | — |
| Q4 25 | 3.0% | 4.9% | ||
| Q3 25 | 2.9% | -8.7% | ||
| Q2 25 | 4.3% | -8.1% | ||
| Q1 25 | 0.2% | -5.0% | ||
| Q4 24 | 3.0% | 4.5% | ||
| Q3 24 | 2.5% | 2.0% | ||
| Q2 24 | 2.5% | 2.6% | ||
| Q1 24 | -1.4% | -3.6% |
| Q4 25 | 1.2% | 5.3% | ||
| Q3 25 | 1.4% | -8.7% | ||
| Q2 25 | 2.6% | -7.5% | ||
| Q1 25 | -0.8% | -4.7% | ||
| Q4 24 | 1.8% | 5.4% | ||
| Q3 24 | 1.0% | 2.8% | ||
| Q2 24 | 1.1% | 3.2% | ||
| Q1 24 | -1.9% | -3.0% |
| Q4 25 | $0.24 | $0.24 | ||
| Q3 25 | $0.34 | $-0.34 | ||
| Q2 25 | $0.64 | $-0.31 | ||
| Q1 25 | $-0.20 | $-0.19 | ||
| Q4 24 | $0.42 | $0.24 | ||
| Q3 24 | $0.27 | $0.11 | ||
| Q2 24 | $0.31 | $0.14 | ||
| Q1 24 | $-0.48 | $-0.12 |
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 | $671.0M |
| 总债务越低越好 | $687.2M | $620.0M |
| 股东权益账面价值 | — | $491.0M |
| 总资产 | $964.7M | $7.2B |
| 负债/权益比越低杠杆越低 | — | 1.26× |
8季度趋势，按日历期对齐
| Q4 25 | $3.1M | $671.0M | ||
| Q3 25 | $5.8M | $566.0M | ||
| Q2 25 | $9.7M | $563.0M | ||
| Q1 25 | $6.7M | $686.0M | ||
| Q4 24 | $3.4M | $740.0M | ||
| Q3 24 | $7.8M | $576.0M | ||
| Q2 24 | $5.5M | $658.0M | ||
| Q1 24 | $6.3M | $622.0M |
| Q4 25 | $687.2M | $620.0M | ||
| Q3 25 | $700.8M | $673.0M | ||
| Q2 25 | $722.7M | $565.0M | ||
| Q1 25 | $774.1M | $512.0M | ||
| Q4 24 | $763.9M | $507.0M | ||
| Q3 24 | $769.2M | $474.0M | ||
| Q2 24 | $786.7M | $455.0M | ||
| Q1 24 | $795.8M | $469.0M |
| Q4 25 | — | $491.0M | ||
| Q3 25 | — | $434.0M | ||
| Q2 25 | — | $506.0M | ||
| Q1 25 | — | $570.0M | ||
| Q4 24 | — | $604.0M | ||
| Q3 24 | — | $549.0M | ||
| Q2 24 | — | $520.0M | ||
| Q1 24 | — | $484.0M |
| Q4 25 | $964.7M | $7.2B | ||
| Q3 25 | $998.9M | $6.7B | ||
| Q2 25 | $1.0B | $6.5B | ||
| Q1 25 | $1.1B | $6.5B | ||
| Q4 24 | $1.1B | $6.2B | ||
| Q3 24 | $1.1B | $5.8B | ||
| Q2 24 | $1.2B | $5.7B | ||
| Q1 24 | $1.2B | $5.2B |
| Q4 25 | — | 1.26× | ||
| Q3 25 | — | 1.55× | ||
| Q2 25 | — | 1.12× | ||
| Q1 25 | — | 0.90× | ||
| Q4 24 | — | 0.84× | ||
| Q3 24 | — | 0.86× | ||
| Q2 24 | — | 0.88× | ||
| Q1 24 | — | 0.97× |
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 | $-91.0M |
| 自由现金流经营现金流 - 资本支出 | $22.4M | $-113.0M |
| 自由现金流率自由现金流/营收 | 2.6% | -11.3% |
| 资本支出强度资本支出/营收 | 0.8% | 2.2% |
| 现金转化率经营现金流/净利润 | 2.89× | -1.72× |
| 过去12个月自由现金流最近4个季度 | $55.8M | $-600.0M |
8季度趋势，按日历期对齐
| Q4 25 | $29.4M | $-91.0M | ||
| Q3 25 | $24.4M | $-215.0M | ||
| Q2 25 | $22.6M | $-133.0M | ||
| Q1 25 | $15.0M | $-86.0M | ||
| Q4 24 | $11.1M | $87.0M | ||
| Q3 24 | $41.9M | $-156.0M | ||
| Q2 24 | $28.9M | $9.0M | ||
| Q1 24 | $5.8M | $-22.0M |
| Q4 25 | $22.4M | $-113.0M | ||
| Q3 25 | $17.7M | $-217.0M | ||
| Q2 25 | $10.8M | $-166.0M | ||
| Q1 25 | $4.9M | $-104.0M | ||
| Q4 24 | $3.9M | $73.0M | ||
| Q3 24 | $34.2M | $-170.0M | ||
| Q2 24 | $23.6M | $-22.0M | ||
| Q1 24 | $-289.0K | $-39.0M |
| Q4 25 | 2.6% | -11.3% | ||
| Q3 25 | 1.8% | -24.5% | ||
| Q2 25 | 1.1% | -17.9% | ||
| Q1 25 | 0.6% | -11.4% | ||
| Q4 24 | 0.4% | 7.3% | ||
| Q3 24 | 3.2% | -18.2% | ||
| Q2 24 | 2.1% | -2.3% | ||
| Q1 24 | -0.0% | -4.5% |
| Q4 25 | 0.8% | 2.2% | ||
| Q3 25 | 0.7% | 0.2% | ||
| Q2 25 | 1.2% | 3.6% | ||
| Q1 25 | 1.2% | 2.0% | ||
| Q4 24 | 0.8% | 1.4% | ||
| Q3 24 | 0.7% | 1.5% | ||
| Q2 24 | 0.5% | 3.2% | ||
| Q1 24 | 0.6% | 2.0% |
| Q4 25 | 2.89× | -1.72× | ||
| Q3 25 | 1.79× | — | ||
| Q2 25 | 0.90× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.66× | 1.61× | ||
| Q3 24 | 3.92× | -6.00× | ||
| Q2 24 | 2.33× | 0.29× | ||
| 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% |
ULCC
| Aircraft Fare | $453.0M | 45% |
| Passenger Service Fees | $227.0M | 23% |
| Passenger Baggage | $177.0M | 18% |
| Passenger Seat Selection | $69.0M | 7% |
| Other Passenger Revenue | $36.0M | 4% |
| Other | $35.0M | 4% |
