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CBL & ASSOCIATES PROPERTIES INC（CBL）与Repay Holdings Corp（RPAY）财务数据对比。点击上方公司名可切换其他公司
CBL & ASSOCIATES PROPERTIES INC的季度营收约是Repay Holdings Corp的2.0倍（$156.4M vs $78.6M），CBL & ASSOCIATES PROPERTIES INC净利率更高（31.3% vs -178.3%，领先209.6%），CBL & ASSOCIATES PROPERTIES INC同比增速更快（18.8% vs 0.4%），过去两年CBL & ASSOCIATES PROPERTIES INC的营收复合增速更高（10.1% vs -1.3%）
CBL联合地产是一家美国房地产投资信托企业，核心投资布局为购物中心与商业摩尔，业务主要集中在美国东南部与中西部地区。公司在特拉华州注册，总部设于田纳西州查塔努加，该城市也是其最大的布局市场，公司名称取自创始人查尔斯·B·勒博维茨的姓名首字母。
Repay Holdings Corp是一家聚焦北美市场的支付技术服务商，为零售、医疗、汽车服务、电商等领域的企业提供整合支付处理方案，涵盖银行卡收单、ACH转账、POS系统集成等数字化支付工具，助力客户简化交易流程、提升运营效率。
CBL vs RPAY — 直观对比
营收规模更大
CBL
是对方的2.0倍
$78.6M
营收增速更快
CBL
高出18.4%
0.4%
净利率更高
CBL
高出209.6%
-178.3%
两年增速更快
CBL
近两年复合增速
-1.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $156.4M | $78.6M |
| 净利润 | $49.0M | $-140.1M |
| 毛利率 | — | 74.2% |
| 营业利润率 | — | -182.2% |
| 净利率 | 31.3% | -178.3% |
| 营收同比 | 18.8% | 0.4% |
| 净利润同比 | 29.0% | -3304.1% |
| 每股收益（稀释后） | $1.61 | $-1.68 |
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CBLRPAY
| Q4 25 | $156.4M | $78.6M | ||
| Q3 25 | $139.3M | $77.7M | ||
| Q2 25 | $140.9M | $75.6M | ||
| Q1 25 | $141.8M | $77.3M | ||
| Q4 24 | $131.7M | $78.3M | ||
| Q3 24 | $125.1M | $79.1M | ||
| Q2 24 | $129.7M | $74.9M | ||
| Q1 24 | $129.1M | $80.7M |
净利润CBLRPAY
| Q4 25 | $49.0M | $-140.1M | ||
| Q3 25 | $75.4M | $-6.4M | ||
| Q2 25 | $2.8M | $-102.3M | ||
| Q1 25 | $8.8M | $-7.9M | ||
| Q4 24 | $38.0M | $-4.1M | ||
| Q3 24 | $16.2M | $3.2M | ||
| Q2 24 | $4.7M | $-4.1M | ||
| Q1 24 | $50.0K | $-5.2M |
毛利率CBLRPAY
| Q4 25 | — | 74.2% | ||
| Q3 25 | — | 74.4% | ||
| Q2 25 | — | 75.7% | ||
| Q1 25 | — | 75.9% | ||
| Q4 24 | — | 76.3% | ||
| Q3 24 | — | 77.8% | ||
| Q2 24 | — | 78.2% | ||
| Q1 24 | — | 76.2% |
营业利润率CBLRPAY
| Q4 25 | — | -182.2% | ||
| Q3 25 | — | -3.9% | ||
| Q2 25 | — | -138.7% | ||
| Q1 25 | — | -4.7% | ||
| Q4 24 | — | -1.5% | ||
| Q3 24 | — | -0.9% | ||
| Q2 24 | — | -4.6% | ||
| Q1 24 | — | -3.1% |
净利率CBLRPAY
| Q4 25 | 31.3% | -178.3% | ||
| Q3 25 | 54.2% | -8.3% | ||
| Q2 25 | 2.0% | -135.2% | ||
| Q1 25 | 6.2% | -10.3% | ||
| Q4 24 | 28.8% | -5.3% | ||
| Q3 24 | 12.9% | 4.1% | ||
| Q2 24 | 3.7% | -5.4% | ||
| Q1 24 | 0.0% | -6.5% |
每股收益（稀释后）CBLRPAY
| Q4 25 | $1.61 | $-1.68 | ||
| Q3 25 | $2.38 | $-0.08 | ||
| Q2 25 | $0.08 | $-1.15 | ||
| Q1 25 | $0.27 | $-0.09 | ||
| Q4 24 | $1.22 | $-0.04 | ||
| Q3 24 | $0.52 | $0.03 | ||
| Q2 24 | $0.14 | $-0.04 | ||
| Q1 24 | $-0.01 | $-0.06 |
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 | $42.3M | $115.7M |
| 总债务越低越好 | $2.2B | $280.1M |
| 股东权益账面价值 | $374.9M | $484.4M |
| 总资产 | $2.7B | $1.2B |
| 负债/权益比越低杠杆越低 | 5.79× | 0.58× |
8季度趋势，按日历期对齐
现金及短期投资CBLRPAY
| Q4 25 | $42.3M | $115.7M | ||
| Q3 25 | $52.6M | $95.7M | ||
| Q2 25 | $100.3M | $162.6M | ||
| Q1 25 | $100.3M | $165.5M | ||
| Q4 24 | $40.8M | $189.5M | ||
| Q3 24 | $65.1M | $168.7M | ||
| Q2 24 | $57.7M | $147.1M | ||
| Q1 24 | $57.7M | $128.3M |
总债务CBLRPAY
| Q4 25 | $2.2B | $280.1M | ||
| Q3 25 | $2.2B | $279.5M | ||
| Q2 25 | $2.1B | $279.0M | ||
| Q1 25 | $2.2B | $497.6M | ||
| Q4 24 | $2.2B | $496.8M | ||
| Q3 24 | $1.8B | $496.2M | ||
| Q2 24 | $1.9B | $435.6M | ||
| Q1 24 | $1.9B | $434.9M |
股东权益CBLRPAY
| Q4 25 | $374.9M | $484.4M | ||
| Q3 25 | $351.4M | $616.9M | ||
| Q2 25 | $289.4M | $633.7M | ||
| Q1 25 | $295.0M | $755.7M | ||
| Q4 24 | $323.5M | $761.3M | ||
| Q3 24 | $308.3M | $754.7M | ||
| Q2 24 | $308.8M | $815.4M | ||
| Q1 24 | $324.2M | $813.8M |
总资产CBLRPAY
| Q4 25 | $2.7B | $1.2B | ||
| Q3 25 | $2.7B | $1.3B | ||
| Q2 25 | $2.6B | $1.4B | ||
| Q1 25 | $2.6B | $1.5B | ||
| Q4 24 | $2.7B | $1.6B | ||
| Q3 24 | $2.2B | $1.6B | ||
| Q2 24 | $2.3B | $1.5B | ||
| Q1 24 | $2.3B | $1.5B |
负债/权益比CBLRPAY
| Q4 25 | 5.79× | 0.58× | ||
| Q3 25 | 6.21× | 0.45× | ||
| Q2 25 | 7.39× | 0.44× | ||
| Q1 25 | 7.29× | 0.66× | ||
| Q4 24 | 6.84× | 0.65× | ||
| Q3 24 | 5.76× | 0.66× | ||
| Q2 24 | 6.00× | 0.53× | ||
| Q1 24 | 5.74× | 0.53× |
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 | $249.7M | $23.3M |
| 自由现金流经营现金流 - 资本支出 | — | $23.2M |
| 自由现金流率自由现金流/营收 | — | 29.6% |
| 资本支出强度资本支出/营收 | — | 0.1% |
| 现金转化率经营现金流/净利润 | 5.10× | — |
| 过去12个月自由现金流最近4个季度 | — | $90.7M |
8季度趋势，按日历期对齐
经营现金流CBLRPAY
| Q4 25 | $249.7M | $23.3M | ||
| Q3 25 | $69.6M | $32.2M | ||
| Q2 25 | $68.3M | $33.1M | ||
| Q1 25 | $31.7M | $2.5M | ||
| Q4 24 | $202.2M | $34.3M | ||
| Q3 24 | $61.1M | $60.1M | ||
| Q2 24 | $64.2M | $31.0M | ||
| Q1 24 | $30.7M | $24.8M |
自由现金流CBLRPAY
| Q4 25 | — | $23.2M | ||
| Q3 25 | — | $32.1M | ||
| Q2 25 | — | $33.0M | ||
| Q1 25 | — | $2.4M | ||
| Q4 24 | — | $34.0M | ||
| Q3 24 | $46.0M | $59.8M | ||
| Q2 24 | $54.8M | $30.5M | ||
| Q1 24 | $24.7M | $24.7M |
自由现金流率CBLRPAY
| Q4 25 | — | 29.6% | ||
| Q3 25 | — | 41.3% | ||
| Q2 25 | — | 43.6% | ||
| Q1 25 | — | 3.0% | ||
| Q4 24 | — | 43.5% | ||
| Q3 24 | 36.8% | 75.6% | ||
| Q2 24 | 42.2% | 40.7% | ||
| Q1 24 | 19.1% | 30.6% |
资本支出强度CBLRPAY
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 0.2% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | — | 0.3% | ||
| Q3 24 | 12.1% | 0.3% | ||
| Q2 24 | 7.3% | 0.6% | ||
| Q1 24 | 4.7% | 0.1% |
现金转化率CBLRPAY
| Q4 25 | 5.10× | — | ||
| Q3 25 | 0.92× | — | ||
| Q2 25 | 24.74× | — | ||
| Q1 25 | 3.60× | — | ||
| Q4 24 | 5.32× | — | ||
| Q3 24 | 3.77× | 18.52× | ||
| Q2 24 | 13.54× | — | ||
| Q1 24 | 614.76× | — |
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
CBL
暂无分部数据
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
