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COPT DEFENSE PROPERTIES（CDP）与Clearwater Paper Corp（CLW）财务数据对比。点击上方公司名可切换其他公司
Clearwater Paper Corp的季度营收约是COPT DEFENSE PROPERTIES的1.8倍（$360.3M vs $197.4M），COPT DEFENSE PROPERTIES净利率更高（20.0% vs -3.6%，领先23.5%），COPT DEFENSE PROPERTIES同比增速更快（7.6% vs -4.7%），过去两年Clearwater Paper Corp的营收复合增速更高（2.3% vs 1.1%）
COPT Defense Properties是一家专业房地产投资信托基金，重点投资写字楼物业，资产主要布局于华盛顿大都会区的近郊区域，核心租户为美国政府及国防军工行业企业。截至2024年12月31日，公司旗下共持有164栋写字楼，总面积达1650万平方英尺，同时运营31个单租户数据中心，总面积590万平方英尺。
净水纸业公司是美国的一家纸浆与纸板制造商，总部位于华盛顿州斯波坎。公司于2008年12月9日从波特拉奇公司分拆设立，专注于纸浆及纸板产品的研发生产与销售，是北美地区该领域颇具影响力的生产企业。
CDP vs CLW — 直观对比
营收规模更大
CLW
是对方的1.8倍
$197.4M
营收增速更快
CDP
高出12.3%
-4.7%
净利率更高
CDP
高出23.5%
-3.6%
两年增速更快
CLW
近两年复合增速
1.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $197.4M | $360.3M |
| 净利润 | $39.4M | $-12.8M |
| 毛利率 | — | -0.2% |
| 营业利润率 | 19.9% | — |
| 净利率 | 20.0% | -3.6% |
| 营收同比 | 7.6% | -4.7% |
| 净利润同比 | 8.0% | -103.2% |
| 每股收益（稀释后） | $0.32 | — |
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CDPCLW
| Q1 26 | — | $360.3M | ||
| Q4 25 | $197.4M | $386.4M | ||
| Q3 25 | $188.8M | $399.0M | ||
| Q2 25 | $189.9M | $391.8M | ||
| Q1 25 | $187.9M | $378.2M | ||
| Q4 24 | $183.4M | $387.1M | ||
| Q3 24 | $189.2M | $393.3M | ||
| Q2 24 | $187.3M | $344.4M |
净利润CDPCLW
| Q1 26 | — | $-12.8M | ||
| Q4 25 | $39.4M | $38.3M | ||
| Q3 25 | $43.7M | $-53.3M | ||
| Q2 25 | $40.2M | $2.7M | ||
| Q1 25 | $36.2M | $-6.3M | ||
| Q4 24 | $36.5M | $199.1M | ||
| Q3 24 | $37.4M | $5.8M | ||
| Q2 24 | $36.4M | $-25.8M |
毛利率CDPCLW
| Q1 26 | — | -0.2% | ||
| Q4 25 | — | 4.5% | ||
| Q3 25 | — | 4.7% | ||
| Q2 25 | — | 11.0% | ||
| Q1 25 | — | 9.7% | ||
| Q4 24 | — | 3.8% | ||
| Q3 24 | — | 7.7% | ||
| Q2 24 | — | -0.6% |
营业利润率CDPCLW
| Q1 26 | — | — | ||
| Q4 25 | 19.9% | 1.9% | ||
| Q3 25 | 22.5% | -13.9% | ||
| Q2 25 | 21.0% | 2.5% | ||
| Q1 25 | 19.1% | -1.1% | ||
| Q4 24 | 19.7% | -4.0% | ||
| Q3 24 | 19.8% | -0.3% | ||
| Q2 24 | 19.4% | -13.6% |
净利率CDPCLW
| Q1 26 | — | -3.6% | ||
| Q4 25 | 20.0% | 9.9% | ||
| Q3 25 | 23.2% | -13.4% | ||
| Q2 25 | 21.1% | 0.7% | ||
| Q1 25 | 19.3% | -1.7% | ||
| Q4 24 | 19.9% | 51.4% | ||
| Q3 24 | 19.8% | 1.5% | ||
| Q2 24 | 19.4% | -7.5% |
每股收益（稀释后）CDPCLW
| Q1 26 | — | — | ||
| Q4 25 | $0.32 | $2.36 | ||
| Q3 25 | $0.37 | $-3.30 | ||
| Q2 25 | $0.34 | $0.17 | ||
| Q1 25 | $0.31 | $-0.38 | ||
| Q4 24 | $0.31 | $11.87 | ||
| Q3 24 | $0.32 | $0.35 | ||
| Q2 24 | $0.31 | $-1.55 |
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 | $275.0M | $36.5M |
| 总债务越低越好 | $2.8B | $361.1M |
| 股东权益账面价值 | $1.5B | $813.8M |
| 总资产 | $4.7B | $1.6B |
| 负债/权益比越低杠杆越低 | 1.83× | 0.44× |
8季度趋势，按日历期对齐
现金及短期投资CDPCLW
| Q1 26 | — | $36.5M | ||
| Q4 25 | $275.0M | $30.7M | ||
| Q3 25 | $23.7M | $34.4M | ||
| Q2 25 | $21.3M | $46.7M | ||
| Q1 25 | $24.3M | $44.0M | ||
| Q4 24 | $38.3M | $79.6M | ||
| Q3 24 | $34.5M | $35.5M | ||
| Q2 24 | $100.4M | $39.6M |
总债务CDPCLW
| Q1 26 | — | $361.1M | ||
| Q4 25 | $2.8B | $346.8M | ||
| Q3 25 | $2.4B | $337.0M | ||
| Q2 25 | $2.4B | $330.1M | ||
| Q1 25 | $2.4B | — | ||
| Q4 24 | $2.4B | $283.4M | ||
| Q3 24 | $2.4B | $1.2B | ||
| Q2 24 | $2.4B | $1.1B |
股东权益CDPCLW
| Q1 26 | — | $813.8M | ||
| Q4 25 | $1.5B | $825.3M | ||
| Q3 25 | $1.5B | $783.0M | ||
| Q2 25 | $1.5B | $836.8M | ||
| Q1 25 | $1.5B | $836.6M | ||
| Q4 24 | $1.5B | $854.6M | ||
| Q3 24 | $1.5B | $664.6M | ||
| Q2 24 | $1.5B | $658.6M |
总资产CDPCLW
| Q1 26 | — | $1.6B | ||
| Q4 25 | $4.7B | $1.6B | ||
| Q3 25 | $4.4B | $1.6B | ||
| Q2 25 | $4.3B | $1.6B | ||
| Q1 25 | $4.3B | $1.6B | ||
| Q4 24 | $4.3B | $1.7B | ||
| Q3 24 | $4.2B | $2.5B | ||
| Q2 24 | $4.2B | $2.5B |
负债/权益比CDPCLW
| Q1 26 | — | 0.44× | ||
| Q4 25 | 1.83× | 0.42× | ||
| Q3 25 | 1.62× | 0.43× | ||
| Q2 25 | 1.63× | 0.39× | ||
| Q1 25 | 1.62× | — | ||
| Q4 24 | 1.60× | 0.33× | ||
| Q3 24 | 1.61× | 1.73× | ||
| Q2 24 | 1.61× | 1.74× |
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 | $309.9M | — |
| 自由现金流经营现金流 - 资本支出 | $288.9M | — |
| 自由现金流率自由现金流/营收 | 146.4% | — |
| 资本支出强度资本支出/营收 | 10.7% | — |
| 现金转化率经营现金流/净利润 | 7.87× | — |
| 过去12个月自由现金流最近4个季度 | $501.5M | — |
8季度趋势，按日历期对齐
经营现金流CDPCLW
| Q1 26 | — | — | ||
| Q4 25 | $309.9M | $5.0M | ||
| Q3 25 | $68.6M | $34.0M | ||
| Q2 25 | $87.9M | $-28.2M | ||
| Q1 25 | $72.1M | $1.5M | ||
| Q4 24 | $331.0M | $-35.1M | ||
| Q3 24 | $65.1M | $16.2M | ||
| Q2 24 | $93.8M | $21.1M |
自由现金流CDPCLW
| Q1 26 | — | — | ||
| Q4 25 | $288.9M | $-9.9M | ||
| Q3 25 | $62.9M | $15.7M | ||
| Q2 25 | $84.5M | $-51.1M | ||
| Q1 25 | $65.1M | $-31.2M | ||
| Q4 24 | $299.6M | $-68.1M | ||
| Q3 24 | $61.0M | $-30.8M | ||
| Q2 24 | $88.4M | $3.0M |
自由现金流率CDPCLW
| Q1 26 | — | — | ||
| Q4 25 | 146.4% | -2.6% | ||
| Q3 25 | 33.3% | 3.9% | ||
| Q2 25 | 44.5% | -13.0% | ||
| Q1 25 | 34.7% | -8.2% | ||
| Q4 24 | 163.3% | -17.6% | ||
| Q3 24 | 32.3% | -7.8% | ||
| Q2 24 | 47.2% | 0.9% |
资本支出强度CDPCLW
| Q1 26 | — | — | ||
| Q4 25 | 10.7% | 3.9% | ||
| Q3 25 | 3.0% | 4.6% | ||
| Q2 25 | 1.8% | 5.8% | ||
| Q1 25 | 3.7% | 8.6% | ||
| Q4 24 | 17.1% | 8.5% | ||
| Q3 24 | 2.1% | 12.0% | ||
| Q2 24 | 2.9% | 5.3% |
现金转化率CDPCLW
| Q1 26 | — | — | ||
| Q4 25 | 7.87× | 0.13× | ||
| Q3 25 | 1.57× | — | ||
| Q2 25 | 2.19× | -10.44× | ||
| Q1 25 | 1.99× | — | ||
| Q4 24 | 9.08× | -0.18× | ||
| Q3 24 | 1.74× | 2.79× | ||
| Q2 24 | 2.58× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
