vs
基华物流（CEVA）与Match Group（MTCH）财务数据对比。点击上方公司名可切换其他公司
Match Group的季度营收约是基华物流的28.1倍（$878.0M vs $31.3M）。Match Group净利率更高（23.9% vs -3.5%，领先27.4%）。基华物流同比增速更快（7.1% vs 2.1%）。Match Group自由现金流更多（$308.1M vs $7.2M）。过去两年基华物流的营收复合增速更高（19.1% vs 1.1%）
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。
美国互联网科技企业Match Group总部位于得克萨斯州达拉斯，旗下拥有全球规模最大的在线约会服务品牌矩阵，运营Tinder、Hinge、Plenty of Fish等多款全球知名约会产品。2020年7月公司从IAC分拆为独立上市公司，截至2019年全球付费订阅用户达930万，其中近半数来自北美地区。
CEVA vs MTCH — 直观对比
营收规模更大
MTCH
是对方的28.1倍
$31.3M
营收增速更快
CEVA
高出5.0%
2.1%
净利率更高
MTCH
高出27.4%
-3.5%
自由现金流更多
MTCH
多$300.9M
$7.2M
两年增速更快
CEVA
近两年复合增速
1.1%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $31.3M | $878.0M |
| 净利润 | $-1.1M | $209.7M |
| 毛利率 | 88.1% | 74.7% |
| 营业利润率 | -1.3% | 32.4% |
| 净利率 | -3.5% | 23.9% |
| 营收同比 | 7.1% | 2.1% |
| 净利润同比 | 36.8% | 32.5% |
| 每股收益（稀释后） | — | $0.83 |
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CEVAMTCH
| Q4 25 | $31.3M | $878.0M | ||
| Q3 25 | $28.4M | $914.3M | ||
| Q2 25 | $25.7M | $863.7M | ||
| Q1 25 | $24.2M | $831.2M | ||
| Q4 24 | $29.2M | $860.2M | ||
| Q3 24 | $27.2M | $895.5M | ||
| Q2 24 | $28.4M | $864.1M | ||
| Q1 24 | $22.1M | $859.6M |
净利润CEVAMTCH
| Q4 25 | $-1.1M | $209.7M | ||
| Q3 25 | $-2.5M | $160.8M | ||
| Q2 25 | $-3.7M | $125.5M | ||
| Q1 25 | $-3.3M | $117.6M | ||
| Q4 24 | $-1.7M | $158.3M | ||
| Q3 24 | $-1.3M | $136.5M | ||
| Q2 24 | $-291.0K | $133.3M | ||
| Q1 24 | $-5.4M | $123.2M |
毛利率CEVAMTCH
| Q4 25 | 88.1% | 74.7% | ||
| Q3 25 | 88.0% | 73.0% | ||
| Q2 25 | 86.2% | 72.0% | ||
| Q1 25 | 85.6% | 71.5% | ||
| Q4 24 | 88.5% | 72.5% | ||
| Q3 24 | 85.4% | 71.7% | ||
| Q2 24 | 89.7% | 71.6% | ||
| Q1 24 | 88.7% | 70.1% |
营业利润率CEVAMTCH
| Q4 25 | -1.3% | 32.4% | ||
| Q3 25 | -7.3% | 24.2% | ||
| Q2 25 | -17.5% | 22.5% | ||
| Q1 25 | -18.1% | 20.8% | ||
| Q4 24 | 0.3% | 26.0% | ||
| Q3 24 | -9.6% | 23.5% | ||
| Q2 24 | -0.1% | 23.7% | ||
| Q1 24 | -22.5% | 21.5% |
净利率CEVAMTCH
| Q4 25 | -3.5% | 23.9% | ||
| Q3 25 | -8.8% | 17.6% | ||
| Q2 25 | -14.4% | 14.5% | ||
| Q1 25 | -13.7% | 14.1% | ||
| Q4 24 | -5.9% | 18.4% | ||
| Q3 24 | -4.8% | 15.2% | ||
| Q2 24 | -1.0% | 15.4% | ||
| Q1 24 | -24.7% | 14.3% |
每股收益（稀释后）CEVAMTCH
| Q4 25 | — | $0.83 | ||
| Q3 25 | — | $0.62 | ||
| Q2 25 | — | $0.49 | ||
| Q1 25 | — | $0.44 | ||
| Q4 24 | — | $0.59 | ||
| Q3 24 | — | $0.51 | ||
| Q2 24 | — | $0.48 | ||
| Q1 24 | — | $0.44 |
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 | $1.0B |
| 总债务越低越好 | — | $3.5B |
| 股东权益账面价值 | $336.5M | $-253.5M |
| 总资产 | $388.3M | $4.5B |
| 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CEVAMTCH
| Q4 25 | $40.6M | $1.0B | ||
| Q3 25 | $17.3M | $1.1B | ||
| Q2 25 | $29.1M | $340.4M | ||
| Q1 25 | $18.8M | $414.2M | ||
| Q4 24 | $18.8M | $970.7M | ||
| Q3 24 | $13.2M | $860.9M | ||
| Q2 24 | $25.0M | $843.6M | ||
| Q1 24 | $21.6M | $920.9M |
总债务CEVAMTCH
| Q4 25 | — | $3.5B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $3.4B | ||
| Q4 24 | — | $3.8B | ||
| Q3 24 | — | $3.8B | ||
| Q2 24 | — | $3.8B | ||
| Q1 24 | — | $3.8B |
股东权益CEVAMTCH
| Q4 25 | $336.5M | $-253.5M | ||
| Q3 25 | $268.7M | $-223.9M | ||
| Q2 25 | $265.9M | $-230.9M | ||
| Q1 25 | $269.1M | $-182.7M | ||
| Q4 24 | $266.6M | $-63.7M | ||
| Q3 24 | $265.8M | $-88.5M | ||
| Q2 24 | $263.8M | $-130.2M | ||
| Q1 24 | $262.3M | $-107.8M |
总资产CEVAMTCH
| Q4 25 | $388.3M | $4.5B | ||
| Q3 25 | $306.0M | $4.5B | ||
| Q2 25 | $302.8M | $3.9B | ||
| Q1 25 | $310.0M | $3.9B | ||
| Q4 24 | $308.9M | $4.5B | ||
| Q3 24 | $304.9M | $4.4B | ||
| Q2 24 | $300.4M | $4.4B | ||
| Q1 24 | $301.4M | $4.4B |
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 | $322.8M |
| 自由现金流经营现金流 - 资本支出 | $7.2M | $308.1M |
| 自由现金流率自由现金流/营收 | 23.1% | 35.1% |
| 资本支出强度资本支出/营收 | 4.8% | 1.7% |
| 现金转化率经营现金流/净利润 | — | 1.54× |
| 过去12个月自由现金流最近4个季度 | $-6.3M | $1.0B |
8季度趋势，按日历期对齐
经营现金流CEVAMTCH
| Q4 25 | $8.7M | $322.8M | ||
| Q3 25 | $-5.9M | $320.6M | ||
| Q2 25 | $1.2M | $243.8M | ||
| Q1 25 | $-7.4M | $193.1M | ||
| Q4 24 | $8.0M | $254.7M | ||
| Q3 24 | $399.0K | $264.9M | ||
| Q2 24 | $2.4M | $129.0M | ||
| Q1 24 | $-7.3M | $284.1M |
自由现金流CEVAMTCH
| Q4 25 | $7.2M | $308.1M | ||
| Q3 25 | $-6.3M | $306.8M | ||
| Q2 25 | $492.0K | $231.0M | ||
| Q1 25 | $-7.7M | $177.7M | ||
| Q4 24 | $7.0M | $247.1M | ||
| Q3 24 | $-15.0K | $251.8M | ||
| Q2 24 | $1.8M | $116.3M | ||
| Q1 24 | $-8.3M | $266.9M |
自由现金流率CEVAMTCH
| Q4 25 | 23.1% | 35.1% | ||
| Q3 25 | -22.1% | 33.6% | ||
| Q2 25 | 1.9% | 26.7% | ||
| Q1 25 | -31.8% | 21.4% | ||
| Q4 24 | 24.0% | 28.7% | ||
| Q3 24 | -0.1% | 28.1% | ||
| Q2 24 | 6.2% | 13.5% | ||
| Q1 24 | -37.4% | 31.0% |
资本支出强度CEVAMTCH
| Q4 25 | 4.8% | 1.7% | ||
| Q3 25 | 1.5% | 1.5% | ||
| Q2 25 | 2.7% | 1.5% | ||
| Q1 25 | 1.3% | 1.9% | ||
| Q4 24 | 3.5% | 0.9% | ||
| Q3 24 | 1.5% | 1.5% | ||
| Q2 24 | 2.1% | 1.5% | ||
| Q1 24 | 4.1% | 2.0% |
现金转化率CEVAMTCH
| Q4 25 | — | 1.54× | ||
| Q3 25 | — | 1.99× | ||
| Q2 25 | — | 1.94× | ||
| Q1 25 | — | 1.64× | ||
| Q4 24 | — | 1.61× | ||
| Q3 24 | — | 1.94× | ||
| Q2 24 | — | 0.97× | ||
| Q1 24 | — | 2.31× |
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% |
MTCH
| Tinder Segment | $479.3M | 55% |
| Hinge Segment | $186.5M | 21% |
| Evergreen And Emerging Segment | $148.1M | 17% |
| MG Asia Segment | $65.8M | 7% |
