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Crown Castle（CCI）与RXO, Inc.（RXO）财务数据对比。点击上方公司名可切换其他公司
RXO, Inc.的季度营收约是Crown Castle的1.5倍（$1.5B vs $1.0B），RXO, Inc.净利率更高（-3.1% vs -45.9%，领先42.8%），Crown Castle同比增速更快（-4.8% vs -11.9%），RXO, Inc.自由现金流更多（$-9.0M vs $-43.0M），过去两年RXO, Inc.的营收复合增速更高（26.8% vs -4.5%）
Crown Castle Inc.是总部位于美国得克萨斯州休斯敦的房地产投资信托企业，同时是美国共享通信基础设施服务商，在全球设有100个办事处，旗下拥有超4万座信号塔、约8.5万英里光纤线路，为小基站及光纤系统提供网络支撑。
RXO是总部位于美国的头部运输及物流解决方案供应商，核心业务覆盖货运经纪、大件商品最后一公里配送、运输管理服务与全链路供应链优化支持，主要服务北美制造业、零售业及电商领域的客户。
CCI vs RXO — 直观对比
营收规模更大
RXO
是对方的1.5倍
$1.0B
营收增速更快
CCI
高出7.1%
-11.9%
净利率更高
RXO
高出42.8%
-45.9%
自由现金流更多
RXO
多$34.0M
$-43.0M
两年增速更快
RXO
近两年复合增速
-4.5%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $1.5B |
| 净利润 | $-464.0M | $-46.0M |
| 毛利率 | — | — |
| 营业利润率 | 46.0% | -2.9% |
| 净利率 | -45.9% | -3.1% |
| 营收同比 | -4.8% | -11.9% |
| 净利润同比 | — | -84.0% |
| 每股收益（稀释后） | $1.48 | $-0.28 |
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CCIRXO
| Q1 26 | $1.0B | — | ||
| Q4 25 | $1.1B | $1.5B | ||
| Q3 25 | $1.1B | $1.4B | ||
| Q2 25 | $1.1B | $1.4B | ||
| Q1 25 | $1.1B | $1.4B | ||
| Q4 24 | $1.1B | $1.7B | ||
| Q3 24 | $1.1B | $1.0B | ||
| Q2 24 | $1.1B | $930.0M |
净利润CCIRXO
| Q1 26 | $-464.0M | — | ||
| Q4 25 | $294.0M | $-46.0M | ||
| Q3 25 | $323.0M | $-14.0M | ||
| Q2 25 | $291.0M | $-9.0M | ||
| Q1 25 | $-464.0M | $-31.0M | ||
| Q4 24 | — | $-25.0M | ||
| Q3 24 | $303.0M | $-243.0M | ||
| Q2 24 | $251.0M | $-7.0M |
毛利率CCIRXO
| Q1 26 | — | — | ||
| Q4 25 | 97.4% | — | ||
| Q3 25 | 97.2% | — | ||
| Q2 25 | 97.5% | — | ||
| Q1 25 | 97.4% | — | ||
| Q4 24 | 97.7% | — | ||
| Q3 24 | 97.6% | — | ||
| Q2 24 | 97.7% | — |
营业利润率CCIRXO
| Q1 26 | 46.0% | — | ||
| Q4 25 | 48.8% | -2.9% | ||
| Q3 25 | 49.0% | -0.5% | ||
| Q2 25 | 47.7% | — | ||
| Q1 25 | 49.1% | -2.1% | ||
| Q4 24 | 51.0% | -1.4% | ||
| Q3 24 | 47.5% | -1.9% | ||
| Q2 24 | 44.7% | — |
净利率CCIRXO
| Q1 26 | -45.9% | — | ||
| Q4 25 | 27.5% | -3.1% | ||
| Q3 25 | 30.1% | -1.0% | ||
| Q2 25 | 27.5% | -0.6% | ||
| Q1 25 | -43.7% | -2.2% | ||
| Q4 24 | — | -1.5% | ||
| Q3 24 | 27.1% | -23.4% | ||
| Q2 24 | 22.7% | -0.8% |
每股收益（稀释后）CCIRXO
| Q1 26 | $1.48 | — | ||
| Q4 25 | $0.67 | $-0.28 | ||
| Q3 25 | $0.74 | $-0.08 | ||
| Q2 25 | $0.67 | $-0.05 | ||
| Q1 25 | $-1.07 | $-0.18 | ||
| Q4 24 | — | $-0.17 | ||
| Q3 24 | $0.70 | $-1.81 | ||
| Q2 24 | $0.58 | $-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 | $55.0M | $17.0M |
| 总债务越低越好 | — | $387.0M |
| 股东权益账面价值 | — | $1.5B |
| 总资产 | $31.4B | $3.3B |
| 负债/权益比越低杠杆越低 | — | 0.25× |
8季度趋势，按日历期对齐
现金及短期投资CCIRXO
| Q1 26 | $55.0M | — | ||
| Q4 25 | $99.0M | $17.0M | ||
| Q3 25 | $57.0M | $25.0M | ||
| Q2 25 | $94.0M | $18.0M | ||
| Q1 25 | $60.0M | $16.0M | ||
| Q4 24 | $100.0M | $35.0M | ||
| Q3 24 | $194.0M | $55.0M | ||
| Q2 24 | $155.0M | $7.0M |
总债务CCIRXO
| Q1 26 | — | — | ||
| Q4 25 | $21.6B | $387.0M | ||
| Q3 25 | $21.6B | $387.0M | ||
| Q2 25 | $22.0B | $387.0M | ||
| Q1 25 | $22.9B | $387.0M | ||
| Q4 24 | $23.5B | $351.0M | ||
| Q3 24 | $23.5B | $352.0M | ||
| Q2 24 | $22.9B | $370.0M |
股东权益CCIRXO
| Q1 26 | — | — | ||
| Q4 25 | $-1.6B | $1.5B | ||
| Q3 25 | $-1.5B | $1.6B | ||
| Q2 25 | $-1.4B | $1.6B | ||
| Q1 25 | $-1.3B | $1.6B | ||
| Q4 24 | $-133.0M | $1.6B | ||
| Q3 24 | $5.3B | $1.7B | ||
| Q2 24 | $5.7B | $579.0M |
总资产CCIRXO
| Q1 26 | $31.4B | — | ||
| Q4 25 | $31.5B | $3.3B | ||
| Q3 25 | $31.5B | $3.2B | ||
| Q2 25 | $31.6B | $3.2B | ||
| Q1 25 | $31.8B | $3.3B | ||
| Q4 24 | $32.7B | $3.4B | ||
| Q3 24 | $38.0B | $3.4B | ||
| Q2 24 | $38.2B | $1.8B |
负债/权益比CCIRXO
| Q1 26 | — | — | ||
| Q4 25 | — | 0.25× | ||
| Q3 25 | — | 0.24× | ||
| Q2 25 | — | 0.24× | ||
| Q1 25 | — | 0.24× | ||
| Q4 24 | — | 0.22× | ||
| Q3 24 | 4.43× | 0.21× | ||
| Q2 24 | 4.04× | 0.64× |
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 | — | $7.0M |
| 自由现金流经营现金流 - 资本支出 | $-43.0M | $-9.0M |
| 自由现金流率自由现金流/营收 | -4.3% | -0.6% |
| 资本支出强度资本支出/营收 | 1.0% | 1.1% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $4.3B | $-8.0M |
8季度趋势，按日历期对齐
经营现金流CCIRXO
| Q1 26 | — | — | ||
| Q4 25 | $3.1B | $7.0M | ||
| Q3 25 | $714.0M | $23.0M | ||
| Q2 25 | $832.0M | $23.0M | ||
| Q1 25 | $641.0M | $-2.0M | ||
| Q4 24 | $2.9B | $-7.0M | ||
| Q3 24 | $699.0M | $-7.0M | ||
| Q2 24 | $768.0M | $-5.0M |
自由现金流CCIRXO
| Q1 26 | $-43.0M | — | ||
| Q4 25 | $2.9B | $-9.0M | ||
| Q3 25 | $671.0M | $9.0M | ||
| Q2 25 | $792.0M | $9.0M | ||
| Q1 25 | $601.0M | $-17.0M | ||
| Q4 24 | $2.8B | $-19.0M | ||
| Q3 24 | $661.0M | $-18.0M | ||
| Q2 24 | $729.0M | $-16.0M |
自由现金流率CCIRXO
| Q1 26 | -4.3% | — | ||
| Q4 25 | 268.4% | -0.6% | ||
| Q3 25 | 62.6% | 0.6% | ||
| Q2 25 | 74.7% | 0.6% | ||
| Q1 25 | 56.6% | -1.2% | ||
| Q4 24 | 247.3% | -1.1% | ||
| Q3 24 | 59.0% | -1.7% | ||
| Q2 24 | 65.9% | -1.7% |
资本支出强度CCIRXO
| Q1 26 | 1.0% | — | ||
| Q4 25 | 17.0% | 1.1% | ||
| Q3 25 | 4.0% | 1.0% | ||
| Q2 25 | 3.8% | 1.0% | ||
| Q1 25 | 3.8% | 1.0% | ||
| Q4 24 | 15.7% | 0.7% | ||
| Q3 24 | 3.4% | 1.1% | ||
| Q2 24 | 3.5% | 1.2% |
现金转化率CCIRXO
| Q1 26 | — | — | ||
| Q4 25 | 10.40× | — | ||
| Q3 25 | 2.21× | — | ||
| Q2 25 | 2.86× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.31× | — | ||
| Q2 24 | 3.06× | — |
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
CCI
| Site rental | $961.0M | 95% |
| Services and other | $49.0M | 5% |
RXO
| Retail Sector | $546.0M | 37% |
| Last Mile | $298.0M | 20% |
| Food And Beverage Sector | $225.0M | 15% |
| Other Sector | $185.0M | 13% |
| Managed Transportation | $133.0M | 9% |
| Automotive Sector | $93.0M | 6% |
