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基华物流（CEVA）与Rumble Inc.（RUM）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Rumble Inc.的1.2倍（$31.3M vs $27.1M），基华物流净利率更高（-3.5% vs -120.8%，领先117.3%），基华物流同比增速更快（7.1% vs -10.5%），基华物流自由现金流更多（$7.2M vs $-31.7M），过去两年基华物流的营收复合增速更高（19.1% vs 15.2%）
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。
Rumble Inc.是一家加美跨国企业，主营在线视频平台、网络托管及云服务，总部位于加拿大多伦多，美国总部设在佛罗里达州朗博特基。公司由加拿大科技创业者克里斯·帕夫洛夫斯基于2013年创立，云服务板块为Truth Social提供托管支持，其视频平台在美国保守派及极右翼用户群体中广受欢迎，属于“另类科技”阵营。
CEVA vs RUM — 直观对比
营收规模更大
CEVA
是对方的1.2倍
$27.1M
营收增速更快
CEVA
高出17.5%
-10.5%
净利率更高
CEVA
高出117.3%
-120.8%
自由现金流更多
CEVA
多$38.9M
$-31.7M
两年增速更快
CEVA
近两年复合增速
15.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $31.3M | $27.1M |
| 净利润 | $-1.1M | $-32.7M |
| 毛利率 | 88.1% | 5.5% |
| 营业利润率 | -1.3% | -131.1% |
| 净利率 | -3.5% | -120.8% |
| 营收同比 | 7.1% | -10.5% |
| 净利润同比 | 36.8% | 86.2% |
| 每股收益（稀释后） | — | $-0.13 |
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CEVARUM
| Q4 25 | $31.3M | $27.1M | ||
| Q3 25 | $28.4M | $24.8M | ||
| Q2 25 | $25.7M | — | ||
| Q1 25 | $24.2M | $23.7M | ||
| Q4 24 | $29.2M | $30.2M | ||
| Q3 24 | $27.2M | $25.1M | ||
| Q2 24 | $28.4M | $22.5M | ||
| Q1 24 | $22.1M | $17.7M |
净利润CEVARUM
| Q4 25 | $-1.1M | $-32.7M | ||
| Q3 25 | $-2.5M | $-16.3M | ||
| Q2 25 | $-3.7M | — | ||
| Q1 25 | $-3.3M | $-2.7M | ||
| Q4 24 | $-1.7M | $-236.8M | ||
| Q3 24 | $-1.3M | $-31.5M | ||
| Q2 24 | $-291.0K | $-26.8M | ||
| Q1 24 | $-5.4M | $-43.3M |
毛利率CEVARUM
| Q4 25 | 88.1% | 5.5% | ||
| Q3 25 | 88.0% | -1.8% | ||
| Q2 25 | 86.2% | — | ||
| Q1 25 | 85.6% | -26.7% | ||
| Q4 24 | 88.5% | -14.2% | ||
| Q3 24 | 85.4% | -45.4% | ||
| Q2 24 | 89.7% | -58.8% | ||
| Q1 24 | 88.7% | -79.5% |
营业利润率CEVARUM
| Q4 25 | -1.3% | -131.1% | ||
| Q3 25 | -7.3% | -113.6% | ||
| Q2 25 | -17.5% | — | ||
| Q1 25 | -18.1% | -153.5% | ||
| Q4 24 | 0.3% | -80.1% | ||
| Q3 24 | -9.6% | -131.0% | ||
| Q2 24 | -0.1% | -172.7% | ||
| Q1 24 | -22.5% | -197.4% |
净利率CEVARUM
| Q4 25 | -3.5% | -120.8% | ||
| Q3 25 | -8.8% | -65.7% | ||
| Q2 25 | -14.4% | — | ||
| Q1 25 | -13.7% | -11.2% | ||
| Q4 24 | -5.9% | -783.2% | ||
| Q3 24 | -4.8% | -125.9% | ||
| Q2 24 | -1.0% | -119.2% | ||
| Q1 24 | -24.7% | -244.1% |
每股收益（稀释后）CEVARUM
| Q4 25 | — | $-0.13 | ||
| Q3 25 | — | $-0.06 | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $-0.01 | ||
| Q4 24 | — | $-1.17 | ||
| Q3 24 | — | $-0.15 | ||
| Q2 24 | — | $-0.13 | ||
| Q1 24 | — | $-0.21 |
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 | $237.9M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $336.5M | $274.8M |
| 总资产 | $388.3M | $336.8M |
| 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CEVARUM
| Q4 25 | $40.6M | $237.9M | ||
| Q3 25 | $17.3M | $269.8M | ||
| Q2 25 | $29.1M | — | ||
| Q1 25 | $18.8M | $301.3M | ||
| Q4 24 | $18.8M | $114.0M | ||
| Q3 24 | $13.2M | $132.0M | ||
| Q2 24 | $25.0M | $154.2M | ||
| Q1 24 | $21.6M | $183.8M |
股东权益CEVARUM
| Q4 25 | $336.5M | $274.8M | ||
| Q3 25 | $268.7M | $302.2M | ||
| Q2 25 | $265.9M | — | ||
| Q1 25 | $269.1M | $339.6M | ||
| Q4 24 | $266.6M | $-63.1M | ||
| Q3 24 | $265.8M | $166.1M | ||
| Q2 24 | $263.8M | $192.7M | ||
| Q1 24 | $262.3M | $210.7M |
总资产CEVARUM
| Q4 25 | $388.3M | $336.8M | ||
| Q3 25 | $306.0M | $367.2M | ||
| Q2 25 | $302.8M | — | ||
| Q1 25 | $310.0M | $391.1M | ||
| Q4 24 | $308.9M | $195.3M | ||
| Q3 24 | $304.9M | $217.2M | ||
| Q2 24 | $300.4M | $243.2M | ||
| Q1 24 | $301.4M | $263.0M |
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 | $-29.4M |
| 自由现金流经营现金流 - 资本支出 | $7.2M | $-31.7M |
| 自由现金流率自由现金流/营收 | 23.1% | -117.2% |
| 资本支出强度资本支出/营收 | 4.8% | 8.5% |
| 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 | $-70.8M |
8季度趋势，按日历期对齐
经营现金流CEVARUM
| Q4 25 | $8.7M | $-29.4M | ||
| Q3 25 | $-5.9M | $-10.6M | ||
| Q2 25 | $1.2M | — | ||
| Q1 25 | $-7.4M | $-14.5M | ||
| Q4 24 | $8.0M | $-12.4M | ||
| Q3 24 | $399.0K | $-19.1M | ||
| Q2 24 | $2.4M | $-21.7M | ||
| Q1 24 | $-7.3M | $-33.9M |
自由现金流CEVARUM
| Q4 25 | $7.2M | $-31.7M | ||
| Q3 25 | $-6.3M | $-12.0M | ||
| Q2 25 | $492.0K | — | ||
| Q1 25 | $-7.7M | $-14.6M | ||
| Q4 24 | $7.0M | $-12.4M | ||
| Q3 24 | $-15.0K | $-19.9M | ||
| Q2 24 | $1.8M | $-23.1M | ||
| Q1 24 | $-8.3M | $-34.3M |
自由现金流率CEVARUM
| Q4 25 | 23.1% | -117.2% | ||
| Q3 25 | -22.1% | -48.6% | ||
| Q2 25 | 1.9% | — | ||
| Q1 25 | -31.8% | -61.7% | ||
| Q4 24 | 24.0% | -40.9% | ||
| Q3 24 | -0.1% | -79.5% | ||
| Q2 24 | 6.2% | -102.8% | ||
| Q1 24 | -37.4% | -193.3% |
资本支出强度CEVARUM
| Q4 25 | 4.8% | 8.5% | ||
| Q3 25 | 1.5% | 5.7% | ||
| Q2 25 | 2.7% | — | ||
| Q1 25 | 1.3% | 0.6% | ||
| Q4 24 | 3.5% | 0.1% | ||
| Q3 24 | 1.5% | 3.4% | ||
| Q2 24 | 2.1% | 6.1% | ||
| Q1 24 | 4.1% | 2.4% |
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% |
RUM
| Audience Monetization | $23.8M | 88% |
| Other Initiatives | $3.3M | 12% |
