vs
基华物流（CEVA）与合众银行（FSBC）财务数据对比。点击上方公司名可切换其他公司
合众银行的季度营收约是基华物流的1.4倍（$45.1M vs $31.3M），合众银行净利率更高（41.3% vs -3.5%，领先44.8%），过去两年合众银行的营收复合增速更高（21.3% vs 19.1%）
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。
合众银行是总部设在美国明尼阿波利斯、在特拉华州注册的美国跨国银行机构，截至2025年为美国第五大银行，也是美国中西部规模最大的银行，被金融稳定委员会认定为具有系统重要性的银行。它旗下核心运营实体为美国银行全国协会，以US Bank品牌开展业务，提供银行、投资、抵押等金融服务。
CEVA vs FSBC — 直观对比
营收规模更大
FSBC
是对方的1.4倍
$31.3M
净利率更高
FSBC
高出44.8%
-3.5%
两年增速更快
FSBC
近两年复合增速
19.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $31.3M | $45.1M |
| 净利润 | $-1.1M | $18.6M |
| 毛利率 | 88.1% | — |
| 营业利润率 | -1.3% | — |
| 净利率 | -3.5% | 41.3% |
| 营收同比 | 7.1% | — |
| 净利润同比 | 36.8% | 42.0% |
| 每股收益（稀释后） | — | $0.87 |
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CEVAFSBC
| Q1 26 | — | $45.1M | ||
| Q4 25 | $31.3M | $43.5M | ||
| Q3 25 | $28.4M | $41.3M | ||
| Q2 25 | $25.7M | $38.3M | ||
| Q1 25 | $24.2M | $35.3M | ||
| Q4 24 | $29.2M | $35.2M | ||
| Q3 24 | $27.2M | $31.8M | ||
| Q2 24 | $28.4M | $30.7M |
净利润CEVAFSBC
| Q1 26 | — | $18.6M | ||
| Q4 25 | $-1.1M | $17.6M | ||
| Q3 25 | $-2.5M | $16.3M | ||
| Q2 25 | $-3.7M | $14.5M | ||
| Q1 25 | $-3.3M | $13.1M | ||
| Q4 24 | $-1.7M | $13.3M | ||
| Q3 24 | $-1.3M | $10.9M | ||
| Q2 24 | $-291.0K | $10.8M |
毛利率CEVAFSBC
| Q1 26 | — | — | ||
| Q4 25 | 88.1% | — | ||
| Q3 25 | 88.0% | — | ||
| Q2 25 | 86.2% | — | ||
| Q1 25 | 85.6% | — | ||
| Q4 24 | 88.5% | — | ||
| Q3 24 | 85.4% | — | ||
| Q2 24 | 89.7% | — |
营业利润率CEVAFSBC
| Q1 26 | — | — | ||
| Q4 25 | -1.3% | 52.9% | ||
| Q3 25 | -7.3% | 53.8% | ||
| Q2 25 | -17.5% | 52.4% | ||
| Q1 25 | -18.1% | 52.0% | ||
| Q4 24 | 0.3% | 55.1% | ||
| Q3 24 | -9.6% | 48.0% | ||
| Q2 24 | -0.1% | 49.4% |
净利率CEVAFSBC
| Q1 26 | — | 41.3% | ||
| Q4 25 | -3.5% | 40.6% | ||
| Q3 25 | -8.8% | 39.6% | ||
| Q2 25 | -14.4% | 37.9% | ||
| Q1 25 | -13.7% | 37.1% | ||
| Q4 24 | -5.9% | 37.9% | ||
| Q3 24 | -4.8% | 34.4% | ||
| Q2 24 | -1.0% | 35.2% |
每股收益（稀释后）CEVAFSBC
| Q1 26 | — | $0.87 | ||
| Q4 25 | — | $0.83 | ||
| Q3 25 | — | $0.77 | ||
| Q2 25 | — | $0.68 | ||
| Q1 25 | — | $0.62 | ||
| Q4 24 | — | $0.61 | ||
| Q3 24 | — | $0.52 | ||
| Q2 24 | — | $0.51 |
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 | $644.4M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $336.5M | $458.5M |
| 总资产 | $388.3M | $5.0B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资CEVAFSBC
| Q1 26 | — | $644.4M | ||
| Q4 25 | $40.6M | — | ||
| Q3 25 | $17.3M | — | ||
| Q2 25 | $29.1M | — | ||
| Q1 25 | $18.8M | — | ||
| Q4 24 | $18.8M | — | ||
| Q3 24 | $13.2M | — | ||
| Q2 24 | $25.0M | — |
股东权益CEVAFSBC
| Q1 26 | — | $458.5M | ||
| Q4 25 | $336.5M | $445.8M | ||
| Q3 25 | $268.7M | $431.3M | ||
| Q2 25 | $265.9M | $416.7M | ||
| Q1 25 | $269.1M | $406.5M | ||
| Q4 24 | $266.6M | $396.6M | ||
| Q3 24 | $265.8M | $389.9M | ||
| Q2 24 | $263.8M | $380.5M |
总资产CEVAFSBC
| Q1 26 | — | $5.0B | ||
| Q4 25 | $388.3M | $4.8B | ||
| Q3 25 | $306.0M | $4.6B | ||
| Q2 25 | $302.8M | $4.4B | ||
| Q1 25 | $310.0M | $4.2B | ||
| Q4 24 | $308.9M | $4.1B | ||
| Q3 24 | $304.9M | $3.9B | ||
| Q2 24 | $300.4M | $3.6B |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $7.2M | — |
| 自由现金流率自由现金流/营收 | 23.1% | — |
| 资本支出强度资本支出/营收 | 4.8% | — |
| 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 | $-6.3M | — |
8季度趋势，按日历期对齐
经营现金流CEVAFSBC
| Q1 26 | — | — | ||
| Q4 25 | $8.7M | $72.6M | ||
| Q3 25 | $-5.9M | $18.8M | ||
| Q2 25 | $1.2M | $17.8M | ||
| Q1 25 | $-7.4M | $15.5M | ||
| Q4 24 | $8.0M | $51.8M | ||
| Q3 24 | $399.0K | $17.5M | ||
| Q2 24 | $2.4M | $16.0M |
自由现金流CEVAFSBC
| Q1 26 | — | — | ||
| Q4 25 | $7.2M | $71.4M | ||
| Q3 25 | $-6.3M | $18.6M | ||
| Q2 25 | $492.0K | $17.5M | ||
| Q1 25 | $-7.7M | $15.4M | ||
| Q4 24 | $7.0M | $51.2M | ||
| Q3 24 | $-15.0K | $17.3M | ||
| Q2 24 | $1.8M | $15.8M |
自由现金流率CEVAFSBC
| Q1 26 | — | — | ||
| Q4 25 | 23.1% | 164.3% | ||
| Q3 25 | -22.1% | 45.0% | ||
| Q2 25 | 1.9% | 45.8% | ||
| Q1 25 | -31.8% | 43.5% | ||
| Q4 24 | 24.0% | 145.5% | ||
| Q3 24 | -0.1% | 54.5% | ||
| Q2 24 | 6.2% | 51.6% |
资本支出强度CEVAFSBC
| Q1 26 | — | — | ||
| Q4 25 | 4.8% | 2.8% | ||
| Q3 25 | 1.5% | 0.5% | ||
| Q2 25 | 2.7% | 0.6% | ||
| Q1 25 | 1.3% | 0.3% | ||
| Q4 24 | 3.5% | 1.8% | ||
| Q3 24 | 1.5% | 0.7% | ||
| Q2 24 | 2.1% | 0.7% |
现金转化率CEVAFSBC
| Q1 26 | — | — | ||
| Q4 25 | — | 4.12× | ||
| Q3 25 | — | 1.15× | ||
| Q2 25 | — | 1.23× | ||
| Q1 25 | — | 1.18× | ||
| Q4 24 | — | 3.89× | ||
| Q3 24 | — | 1.60× | ||
| Q2 24 | — | 1.49× |
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% |
FSBC
| Net Interest Income | $43.5M | 96% |
| Noninterest Income | $1.6M | 4% |
