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Cadre Holdings, Inc.（CDRE）与MSA Safety Inc（MSA）财务数据对比。点击上方公司名可切换其他公司
MSA Safety Inc的季度营收约是Cadre Holdings, Inc.的3.1倍（$510.9M vs $167.2M）。MSA Safety Inc净利率更高（17.0% vs 7.0%，领先10.0%）。MSA Safety Inc同比增速更快（2.2% vs -5.0%）。MSA Safety Inc自由现金流更多（$106.0M vs $18.0M）。过去两年MSA Safety Inc的营收复合增速更高（11.2% vs 10.1%）
Cadre Holdings, Inc.是美国金融科技企业，面向个人及机构客户提供房地产投资项目直投渠道，覆盖纽约等地的商业地产。公司打造的投资平台支持投资者自主选择参与的具体交易项目，且投资门槛远低于全额收购物业所需资金，让不动产投资变得更接近股票交易，获得财经媒体的广泛认可。
MSA安全是美国专业安全设备生产供应商，面向建筑、军事、消防、化工、油气等存在高危作业场景的多个行业提供安全防护产品及解决方案，总部位于美国匹兹堡近郊的克兰伯里。
CDRE vs MSA — 直观对比
营收规模更大
MSA
是对方的3.1倍
$167.2M
营收增速更快
MSA
高出7.2%
-5.0%
净利率更高
MSA
高出10.0%
7.0%
自由现金流更多
MSA
多$88.0M
$18.0M
两年增速更快
MSA
近两年复合增速
10.1%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $167.2M | $510.9M |
| 净利润 | $11.7M | $86.9M |
| 毛利率 | 43.4% | 46.9% |
| 营业利润率 | 12.2% | 22.3% |
| 净利率 | 7.0% | 17.0% |
| 营收同比 | -5.0% | 2.2% |
| 净利润同比 | -9.6% | -1.2% |
| 每股收益（稀释后） | $0.22 | $2.22 |
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CDREMSA
| Q4 25 | $167.2M | $510.9M | ||
| Q3 25 | $155.9M | $468.4M | ||
| Q2 25 | $157.1M | $474.1M | ||
| Q1 25 | $130.1M | $421.3M | ||
| Q4 24 | $176.0M | $499.7M | ||
| Q3 24 | $109.4M | $432.7M | ||
| Q2 24 | $144.3M | $462.5M | ||
| Q1 24 | $137.9M | $413.3M |
净利润CDREMSA
| Q4 25 | $11.7M | $86.9M | ||
| Q3 25 | $10.9M | $69.6M | ||
| Q2 25 | $12.2M | $62.8M | ||
| Q1 25 | $9.2M | $59.6M | ||
| Q4 24 | $13.0M | $87.9M | ||
| Q3 24 | $3.7M | $66.6M | ||
| Q2 24 | $12.6M | $72.2M | ||
| Q1 24 | $6.9M | $58.1M |
毛利率CDREMSA
| Q4 25 | 43.4% | 46.9% | ||
| Q3 25 | 42.7% | 46.5% | ||
| Q2 25 | 40.9% | 46.6% | ||
| Q1 25 | 43.1% | 45.9% | ||
| Q4 24 | 43.9% | 46.9% | ||
| Q3 24 | 36.6% | 47.9% | ||
| Q2 24 | 40.6% | 48.2% | ||
| Q1 24 | 41.8% | 47.3% |
营业利润率CDREMSA
| Q4 25 | 12.2% | 22.3% | ||
| Q3 25 | 12.0% | 20.1% | ||
| Q2 25 | 9.3% | 18.1% | ||
| Q1 25 | 10.4% | 18.5% | ||
| Q4 24 | 16.7% | 23.5% | ||
| Q3 24 | 5.0% | 21.1% | ||
| Q2 24 | 13.8% | 21.6% | ||
| Q1 24 | 8.7% | 19.4% |
净利率CDREMSA
| Q4 25 | 7.0% | 17.0% | ||
| Q3 25 | 7.0% | 14.9% | ||
| Q2 25 | 7.8% | 13.2% | ||
| Q1 25 | 7.1% | 14.1% | ||
| Q4 24 | 7.4% | 17.6% | ||
| Q3 24 | 3.3% | 15.4% | ||
| Q2 24 | 8.7% | 15.6% | ||
| Q1 24 | 5.0% | 14.1% |
每股收益（稀释后）CDREMSA
| Q4 25 | $0.22 | $2.22 | ||
| Q3 25 | $0.27 | $1.77 | ||
| Q2 25 | $0.30 | $1.59 | ||
| Q1 25 | $0.23 | $1.51 | ||
| Q4 24 | $0.32 | $2.22 | ||
| Q3 24 | $0.09 | $1.69 | ||
| Q2 24 | $0.31 | $1.83 | ||
| Q1 24 | $0.18 | $1.47 |
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 | $122.9M | $165.1M |
| 总债务越低越好 | — | $580.9M |
| 股东权益账面价值 | $317.8M | $1.4B |
| 总资产 | $770.0M | $2.6B |
| 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CDREMSA
| Q4 25 | $122.9M | $165.1M | ||
| Q3 25 | $150.9M | $170.0M | ||
| Q2 25 | $137.5M | $147.0M | ||
| Q1 25 | $133.4M | $170.6M | ||
| Q4 24 | $124.9M | $164.6M | ||
| Q3 24 | $93.0M | $154.4M | ||
| Q2 24 | $105.9M | $146.8M | ||
| Q1 24 | $87.1M | $148.3M |
总债务CDREMSA
| Q4 25 | — | $580.9M | ||
| Q3 25 | — | $628.6M | ||
| Q2 25 | — | $679.3M | ||
| Q1 25 | — | $502.1M | ||
| Q4 24 | — | $508.0M | ||
| Q3 24 | — | $554.7M | ||
| Q2 24 | — | $588.2M | ||
| Q1 24 | — | $596.2M |
股东权益CDREMSA
| Q4 25 | $317.8M | $1.4B | ||
| Q3 25 | $340.4M | $1.3B | ||
| Q2 25 | $332.5M | $1.3B | ||
| Q1 25 | $317.6M | $1.2B | ||
| Q4 24 | $311.5M | $1.1B | ||
| Q3 24 | $300.3M | $1.1B | ||
| Q2 24 | $299.4M | $1.0B | ||
| Q1 24 | $270.7M | $994.8M |
总资产CDREMSA
| Q4 25 | $770.0M | $2.6B | ||
| Q3 25 | $792.1M | $2.6B | ||
| Q2 25 | $794.4M | $2.6B | ||
| Q1 25 | $656.3M | $2.2B | ||
| Q4 24 | $652.7M | $2.2B | ||
| Q3 24 | $616.6M | $2.2B | ||
| Q2 24 | $620.6M | $2.2B | ||
| Q1 24 | $599.4M | $2.2B |
负债/权益比CDREMSA
| Q4 25 | — | 0.42× | ||
| Q3 25 | — | 0.48× | ||
| Q2 25 | — | 0.54× | ||
| Q1 25 | — | 0.42× | ||
| Q4 24 | — | 0.44× | ||
| Q3 24 | — | 0.51× | ||
| Q2 24 | — | 0.57× | ||
| Q1 24 | — | 0.60× |
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 | $21.3M | $122.4M |
| 自由现金流经营现金流 - 资本支出 | $18.0M | $106.0M |
| 自由现金流率自由现金流/营收 | 10.7% | 20.8% |
| 资本支出强度资本支出/营收 | 2.0% | 3.2% |
| 现金转化率经营现金流/净利润 | 1.81× | 1.41× |
| 过去12个月自由现金流最近4个季度 | $56.8M | $295.4M |
8季度趋势，按日历期对齐
经营现金流CDREMSA
| Q4 25 | $21.3M | $122.4M | ||
| Q3 25 | $22.5M | $112.5M | ||
| Q2 25 | $2.6M | $67.2M | ||
| Q1 25 | $17.4M | $61.8M | ||
| Q4 24 | $23.7M | $107.9M | ||
| Q3 24 | $-5.2M | $84.3M | ||
| Q2 24 | $11.1M | $53.3M | ||
| Q1 24 | $2.1M | $50.9M |
自由现金流CDREMSA
| Q4 25 | $18.0M | $106.0M | ||
| Q3 25 | $21.6M | $100.5M | ||
| Q2 25 | $1.2M | $37.9M | ||
| Q1 25 | $16.1M | $51.0M | ||
| Q4 24 | $22.4M | $93.5M | ||
| Q3 24 | $-6.2M | $70.1M | ||
| Q2 24 | $9.1M | $39.0M | ||
| Q1 24 | $794.0K | $39.7M |
自由现金流率CDREMSA
| Q4 25 | 10.7% | 20.8% | ||
| Q3 25 | 13.9% | 21.4% | ||
| Q2 25 | 0.7% | 8.0% | ||
| Q1 25 | 12.4% | 12.1% | ||
| Q4 24 | 12.7% | 18.7% | ||
| Q3 24 | -5.7% | 16.2% | ||
| Q2 24 | 6.3% | 8.4% | ||
| Q1 24 | 0.6% | 9.6% |
资本支出强度CDREMSA
| Q4 25 | 2.0% | 3.2% | ||
| Q3 25 | 0.5% | 2.6% | ||
| Q2 25 | 0.9% | 6.2% | ||
| Q1 25 | 1.0% | 2.6% | ||
| Q4 24 | 0.7% | 2.9% | ||
| Q3 24 | 0.9% | 3.3% | ||
| Q2 24 | 1.4% | 3.1% | ||
| Q1 24 | 1.0% | 2.7% |
现金转化率CDREMSA
| Q4 25 | 1.81× | 1.41× | ||
| Q3 25 | 2.05× | 1.62× | ||
| Q2 25 | 0.21× | 1.07× | ||
| Q1 25 | 1.88× | 1.04× | ||
| Q4 24 | 1.83× | 1.23× | ||
| Q3 24 | -1.43× | 1.27× | ||
| Q2 24 | 0.89× | 0.74× | ||
| Q1 24 | 0.31× | 0.88× |
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
CDRE
| U.s.state And Local Agencies | $72.7M | 43% |
| Other | $48.6M | 29% |
| U.s.Federal Agencies | $31.6M | 19% |
| Commercial | $12.0M | 7% |
MSA
| Americas Segment | $335.2M | 66% |
| International Segment | $175.7M | 34% |
