vs
基华物流（CEVA）与KKR Real Estate Finance Trust Inc.（KREF）财务数据对比。点击上方公司名可切换其他公司
基华物流的季度营收约是KKR Real Estate Finance Trust Inc.的1.0倍（$27.0M vs $25.8M），基华物流同比增速更快（11.5% vs -26.6%），过去两年基华物流的营收复合增速更高（-2.5% vs -18.8%）
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。
KKR房地产金融信托公司是全球投资机构KKR旗下的专业房地产金融平台，主要发起、收购并管理优先担保商业地产贷款组合，抵押物多为美国各地的优质机构级商业地产，通过贷款利息收入为投资者提供稳定的经风险调整后的回报。
CEVA vs KREF — 直观对比
营收规模更大
CEVA
是对方的1.0倍
$25.8M
营收增速更快
CEVA
高出38.1%
-26.6%
两年增速更快
CEVA
近两年复合增速
-18.8%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $27.0M | $25.8M |
| 净利润 | — | $-26.2M |
| 毛利率 | 86.2% | — |
| 营业利润率 | -5.0% | -105.1% |
| 净利率 | — | -101.7% |
| 营收同比 | 11.5% | -26.6% |
| 净利润同比 | — | -229.6% |
| 每股收益（稀释后） | — | $-0.49 |
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CEVAKREF
| Q1 26 | $27.0M | — | ||
| Q4 25 | $31.3M | $25.8M | ||
| Q3 25 | $28.4M | $25.3M | ||
| Q2 25 | $25.7M | $30.2M | ||
| Q1 25 | $24.2M | $31.3M | ||
| Q4 24 | $29.2M | $35.1M | ||
| Q3 24 | $27.2M | $37.0M | ||
| Q2 24 | $28.4M | $40.4M |
净利润CEVAKREF
| Q1 26 | — | — | ||
| Q4 25 | $-1.1M | $-26.2M | ||
| Q3 25 | $-2.5M | $13.8M | ||
| Q2 25 | $-3.7M | $-29.7M | ||
| Q1 25 | $-3.3M | $-4.9M | ||
| Q4 24 | $-1.7M | $20.3M | ||
| Q3 24 | $-1.3M | $-7.4M | ||
| Q2 24 | $-291.0K | $25.8M |
毛利率CEVAKREF
| Q1 26 | 86.2% | — | ||
| 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CEVAKREF
| Q1 26 | -5.0% | — | ||
| Q4 25 | -1.3% | -105.1% | ||
| Q3 25 | -7.3% | 50.4% | ||
| Q2 25 | -17.5% | -101.3% | ||
| Q1 25 | -18.1% | -18.3% | ||
| Q4 24 | 0.3% | 55.8% | ||
| Q3 24 | -9.6% | -19.6% | ||
| Q2 24 | -0.1% | 63.3% |
净利率CEVAKREF
| Q1 26 | — | — | ||
| Q4 25 | -3.5% | -101.7% | ||
| Q3 25 | -8.8% | 54.4% | ||
| Q2 25 | -14.4% | -98.5% | ||
| Q1 25 | -13.7% | -15.5% | ||
| Q4 24 | -5.9% | 57.7% | ||
| Q3 24 | -4.8% | -20.0% | ||
| Q2 24 | -1.0% | 63.9% |
每股收益（稀释后）CEVAKREF
| Q1 26 | — | — | ||
| Q4 25 | — | $-0.49 | ||
| Q3 25 | — | $0.12 | ||
| Q2 25 | — | $-0.53 | ||
| Q1 25 | — | $-0.15 | ||
| Q4 24 | — | $0.22 | ||
| Q3 24 | — | $-0.19 | ||
| Q2 24 | — | $0.29 |
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 | $21.4M | $84.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $338.2M | $1.2B |
| 总资产 | $388.2M | $6.5B |
| 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CEVAKREF
| Q1 26 | $21.4M | — | ||
| Q4 25 | $40.6M | $84.6M | ||
| Q3 25 | $17.3M | $204.1M | ||
| Q2 25 | $29.1M | $107.7M | ||
| Q1 25 | $18.8M | $106.4M | ||
| Q4 24 | $18.8M | $104.9M | ||
| Q3 24 | $13.2M | $108.8M | ||
| Q2 24 | $25.0M | $107.2M |
股东权益CEVAKREF
| Q1 26 | $338.2M | — | ||
| Q4 25 | $336.5M | $1.2B | ||
| Q3 25 | $268.7M | $1.2B | ||
| Q2 25 | $265.9M | $1.2B | ||
| Q1 25 | $269.1M | $1.3B | ||
| Q4 24 | $266.6M | $1.3B | ||
| Q3 24 | $265.8M | $1.4B | ||
| Q2 24 | $263.8M | $1.4B |
总资产CEVAKREF
| Q1 26 | $388.2M | — | ||
| Q4 25 | $388.3M | $6.5B | ||
| Q3 25 | $306.0M | $6.5B | ||
| Q2 25 | $302.8M | $6.8B | ||
| Q1 25 | $310.0M | $6.6B | ||
| Q4 24 | $308.9M | $6.4B | ||
| Q3 24 | $304.9M | $6.8B | ||
| Q2 24 | $300.4M | $7.1B |
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 | — | $72.3M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 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 | — | — |
8季度趋势，按日历期对齐
经营现金流CEVAKREF
| Q1 26 | — | — | ||
| Q4 25 | $8.7M | $72.3M | ||
| Q3 25 | $-5.9M | $18.5M | ||
| Q2 25 | $1.2M | $21.1M | ||
| Q1 25 | $-7.4M | $15.9M | ||
| Q4 24 | $8.0M | $132.6M | ||
| Q3 24 | $399.0K | $49.1M | ||
| Q2 24 | $2.4M | $30.6M |
自由现金流CEVAKREF
| Q1 26 | — | — | ||
| Q4 25 | $7.2M | — | ||
| Q3 25 | $-6.3M | — | ||
| Q2 25 | $492.0K | — | ||
| Q1 25 | $-7.7M | — | ||
| Q4 24 | $7.0M | — | ||
| Q3 24 | $-15.0K | — | ||
| Q2 24 | $1.8M | — |
自由现金流率CEVAKREF
| Q1 26 | — | — | ||
| Q4 25 | 23.1% | — | ||
| Q3 25 | -22.1% | — | ||
| Q2 25 | 1.9% | — | ||
| Q1 25 | -31.8% | — | ||
| Q4 24 | 24.0% | — | ||
| Q3 24 | -0.1% | — | ||
| Q2 24 | 6.2% | — |
资本支出强度CEVAKREF
| Q1 26 | — | — | ||
| Q4 25 | 4.8% | — | ||
| Q3 25 | 1.5% | — | ||
| Q2 25 | 2.7% | — | ||
| Q1 25 | 1.3% | — | ||
| Q4 24 | 3.5% | — | ||
| Q3 24 | 1.5% | — | ||
| Q2 24 | 2.1% | — |
现金转化率CEVAKREF
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 1.34× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 6.54× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 1.19× |
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
| Licensing and related revenues | $17.8M | 66% |
| Royalties | $9.2M | 34% |
KREF
暂无分部数据
