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基华物流（CEVA）与Flutter Entertainment plc（FLUT）财务数据对比。点击上方公司名可切换其他公司
Flutter Entertainment plc的季度营收约是基华物流的151.4倍（$4.7B vs $31.3M）。Flutter Entertainment plc净利率更高（0.2% vs -3.5%，领先3.7%）。Flutter Entertainment plc同比增速更快（24.9% vs 7.1%）。Flutter Entertainment plc自由现金流更多（$392.0M vs $7.2M）。过去两年基华物流的营收复合增速更高（19.1% vs 18.1%）
赛物流是一家全球物流与供应链企业，提供货运管理以及合约物流服务，2019年被达飞海运集团收购。收购完成后，达飞集团陆续将英格迈微商务生命周期服务、GEFCO等多家物流运输企业并入赛物流，助力其业务发展与规模扩张。
Flutter Entertainment plc是爱尔兰裔美国跨国体育博彩及娱乐博彩企业，于纽约证券交易所主上市，同时在伦敦证券交易所第二上市，旗下拥有Betfair、FanDuel、Paddy Power、PokerStars、Sky Betting & Gaming、Sportsbet等知名品牌，是全球规模最大的在线博彩运营商。
CEVA vs FLUT — 直观对比
营收规模更大
FLUT
是对方的151.4倍
$31.3M
营收增速更快
FLUT
高出17.8%
7.1%
净利率更高
FLUT
高出3.7%
-3.5%
自由现金流更多
FLUT
多$384.8M
$7.2M
两年增速更快
CEVA
近两年复合增速
18.1%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $31.3M | $4.7B |
| 净利润 | $-1.1M | $10.0M |
| 毛利率 | 88.1% | 44.5% |
| 营业利润率 | -1.3% | 5.4% |
| 净利率 | -3.5% | 0.2% |
| 营收同比 | 7.1% | 24.9% |
| 净利润同比 | 36.8% | -93.6% |
| 每股收益（稀释后） | — | $0.00 |
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CEVAFLUT
| Q4 25 | $31.3M | $4.7B | ||
| Q3 25 | $28.4M | $3.8B | ||
| Q2 25 | $25.7M | $4.2B | ||
| Q1 25 | $24.2M | $3.7B | ||
| Q4 24 | $29.2M | $3.8B | ||
| Q3 24 | $27.2M | $3.2B | ||
| Q2 24 | $28.4M | $3.6B | ||
| Q1 24 | $22.1M | $3.4B |
净利润CEVAFLUT
| Q4 25 | $-1.1M | $10.0M | ||
| Q3 25 | $-2.5M | $-789.0M | ||
| Q2 25 | $-3.7M | $37.0M | ||
| Q1 25 | $-3.3M | $335.0M | ||
| Q4 24 | $-1.7M | $156.0M | ||
| Q3 24 | $-1.3M | $-114.0M | ||
| Q2 24 | $-291.0K | $297.0M | ||
| Q1 24 | $-5.4M | $-177.0M |
毛利率CEVAFLUT
| Q4 25 | 88.1% | 44.5% | ||
| Q3 25 | 88.0% | 42.9% | ||
| Q2 25 | 86.2% | 46.8% | ||
| Q1 25 | 85.6% | 46.6% | ||
| Q4 24 | 88.5% | 48.2% | ||
| Q3 24 | 85.4% | 46.1% | ||
| Q2 24 | 89.7% | 49.2% | ||
| Q1 24 | 88.7% | 47.2% |
营业利润率CEVAFLUT
| Q4 25 | -1.3% | 5.4% | ||
| Q3 25 | -7.3% | -22.0% | ||
| Q2 25 | -17.5% | 9.3% | ||
| Q1 25 | -18.1% | 6.1% | ||
| Q4 24 | 0.3% | 7.4% | ||
| Q3 24 | -9.6% | 3.0% | ||
| Q2 24 | -0.1% | 10.2% | ||
| Q1 24 | -22.5% | 3.7% |
净利率CEVAFLUT
| Q4 25 | -3.5% | 0.2% | ||
| Q3 25 | -8.8% | -20.8% | ||
| Q2 25 | -14.4% | 0.9% | ||
| Q1 25 | -13.7% | 9.1% | ||
| Q4 24 | -5.9% | 4.1% | ||
| Q3 24 | -4.8% | -3.5% | ||
| Q2 24 | -1.0% | 8.2% | ||
| Q1 24 | -24.7% | -5.2% |
每股收益（稀释后）CEVAFLUT
| Q4 25 | — | $0.00 | ||
| Q3 25 | — | $-3.91 | ||
| Q2 25 | — | $0.59 | ||
| Q1 25 | — | $1.57 | ||
| Q4 24 | — | $0.47 | ||
| Q3 24 | — | $-0.58 | ||
| Q2 24 | — | $1.45 | ||
| Q1 24 | — | $-1.10 |
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 | $40.6M | $1.8B |
| 总债务越低越好 | — | $12.3B |
| 股东权益账面价值 | $336.5M | $9.0B |
| 总资产 | $388.3M | $29.3B |
| 负债/权益比越低杠杆越低 | — | 1.36× |
8季度趋势，按日历期对齐
现金及短期投资CEVAFLUT
| Q4 25 | $40.6M | $1.8B | ||
| Q3 25 | $17.3M | $1.7B | ||
| Q2 25 | $29.1M | $1.7B | ||
| Q1 25 | $18.8M | $1.5B | ||
| Q4 24 | $18.8M | $1.5B | ||
| Q3 24 | $13.2M | $1.5B | ||
| Q2 24 | $25.0M | $1.5B | ||
| Q1 24 | $21.6M | $1.4B |
总债务CEVAFLUT
| Q4 25 | — | $12.3B | ||
| Q3 25 | — | $12.1B | ||
| Q2 25 | — | $10.0B | ||
| Q1 25 | — | $6.8B | ||
| Q4 24 | — | $6.7B | ||
| Q3 24 | — | $6.9B | ||
| Q2 24 | — | $6.8B | ||
| Q1 24 | — | $6.8B |
股东权益CEVAFLUT
| Q4 25 | $336.5M | $9.0B | ||
| Q3 25 | $268.7M | $9.2B | ||
| Q2 25 | $265.9M | $10.2B | ||
| Q1 25 | $269.1M | $9.9B | ||
| Q4 24 | $266.6M | $9.3B | ||
| Q3 24 | $265.8M | $10.2B | ||
| Q2 24 | $263.8M | $9.9B | ||
| Q1 24 | $262.3M | $9.5B |
总资产CEVAFLUT
| Q4 25 | $388.3M | $29.3B | ||
| Q3 25 | $306.0M | $29.3B | ||
| Q2 25 | $302.8M | $29.9B | ||
| Q1 25 | $310.0M | $24.8B | ||
| Q4 24 | $308.9M | $24.5B | ||
| Q3 24 | $304.9M | $25.5B | ||
| Q2 24 | $300.4M | $24.3B | ||
| Q1 24 | $301.4M | $24.4B |
负债/权益比CEVAFLUT
| Q4 25 | — | 1.36× | ||
| Q3 25 | — | 1.31× | ||
| Q2 25 | — | 0.97× | ||
| Q1 25 | — | 0.69× | ||
| Q4 24 | — | 0.72× | ||
| Q3 24 | — | 0.67× | ||
| Q2 24 | — | 0.69× | ||
| Q1 24 | — | 0.72× |
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 | $8.7M | $428.0M |
| 自由现金流经营现金流 - 资本支出 | $7.2M | $392.0M |
| 自由现金流率自由现金流/营收 | 23.1% | 8.3% |
| 资本支出强度资本支出/营收 | 4.8% | 0.8% |
| 现金转化率经营现金流/净利润 | — | 42.80× |
| 过去12个月自由现金流最近4个季度 | $-6.3M | $1.1B |
8季度趋势，按日历期对齐
经营现金流CEVAFLUT
| Q4 25 | $8.7M | $428.0M | ||
| Q3 25 | $-5.9M | $209.0M | ||
| Q2 25 | $1.2M | $359.0M | ||
| Q1 25 | $-7.4M | $188.0M | ||
| Q4 24 | $8.0M | $652.0M | ||
| Q3 24 | $399.0K | $290.0M | ||
| Q2 24 | $2.4M | $323.0M | ||
| Q1 24 | $-7.3M | $337.0M |
自由现金流CEVAFLUT
| Q4 25 | $7.2M | $392.0M | ||
| Q3 25 | $-6.3M | $196.0M | ||
| Q2 25 | $492.0K | $322.0M | ||
| Q1 25 | $-7.7M | $169.0M | ||
| Q4 24 | $7.0M | $595.0M | ||
| Q3 24 | $-15.0K | $253.0M | ||
| Q2 24 | $1.8M | $295.0M | ||
| Q1 24 | $-8.3M | $315.0M |
自由现金流率CEVAFLUT
| Q4 25 | 23.1% | 8.3% | ||
| Q3 25 | -22.1% | 5.2% | ||
| Q2 25 | 1.9% | 7.7% | ||
| Q1 25 | -31.8% | 4.6% | ||
| Q4 24 | 24.0% | 15.7% | ||
| Q3 24 | -0.1% | 7.8% | ||
| Q2 24 | 6.2% | 8.2% | ||
| Q1 24 | -37.4% | 9.3% |
资本支出强度CEVAFLUT
| Q4 25 | 4.8% | 0.8% | ||
| Q3 25 | 1.5% | 0.3% | ||
| Q2 25 | 2.7% | 0.9% | ||
| Q1 25 | 1.3% | 0.5% | ||
| Q4 24 | 3.5% | 1.5% | ||
| Q3 24 | 1.5% | 1.1% | ||
| Q2 24 | 2.1% | 0.8% | ||
| Q1 24 | 4.1% | 0.6% |
现金转化率CEVAFLUT
| Q4 25 | — | 42.80× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 9.70× | ||
| Q1 25 | — | 0.56× | ||
| Q4 24 | — | 4.18× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 1.09× | ||
| 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
CEVA
| Transferred At Point In Time | $28.1M | 90% |
| Transferred Over Time | $3.2M | 10% |
FLUT
| Other | $2.6B | 55% |
| Sports Book | $1.5B | 32% |
| Igaming | $586.0M | 12% |
| Service Other | $59.0M | 1% |
