vs
基华物流（CEVA）与RxSight, Inc.（RXST）财务数据对比。点击上方公司名可切换其他公司
RxSight, Inc.的季度营收约是基华物流的1.0倍（$32.6M vs $31.3M），基华物流净利率更高（-3.5% vs -28.1%，领先24.6%），基华物流同比增速更快（7.1% vs -18.9%），基华物流自由现金流更多（$7.2M vs $-2.3M），过去两年基华物流的营收复合增速更高（19.1% vs 5.1%）
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。
RxSight是一家医疗科技企业，专注于研发和商业化适用于白内障及屈光晶状体置换手术的可调光人工晶状体产品，其核心产品支持术后通过专用照光设备调整晶状体度数，为全球眼科诊疗市场提供优化的术后视力解决方案。
CEVA vs RXST — 直观对比
营收规模更大
RXST
是对方的1.0倍
$31.3M
营收增速更快
CEVA
高出26.0%
-18.9%
净利率更高
CEVA
高出24.6%
-28.1%
自由现金流更多
CEVA
多$9.5M
$-2.3M
两年增速更快
CEVA
近两年复合增速
5.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $31.3M | $32.6M |
| 净利润 | $-1.1M | $-9.2M |
| 毛利率 | 88.1% | 77.5% |
| 营业利润率 | -1.3% | -34.8% |
| 净利率 | -3.5% | -28.1% |
| 营收同比 | 7.1% | -18.9% |
| 净利润同比 | 36.8% | -54.1% |
| 每股收益（稀释后） | — | $-0.22 |
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CEVARXST
| Q4 25 | $31.3M | $32.6M | ||
| Q3 25 | $28.4M | $30.3M | ||
| Q2 25 | $25.7M | $33.6M | ||
| Q1 25 | $24.2M | $37.9M | ||
| Q4 24 | $29.2M | $40.2M | ||
| Q3 24 | $27.2M | $35.3M | ||
| Q2 24 | $28.4M | $34.9M | ||
| Q1 24 | $22.1M | $29.5M |
净利润CEVARXST
| Q4 25 | $-1.1M | $-9.2M | ||
| Q3 25 | $-2.5M | $-9.8M | ||
| Q2 25 | $-3.7M | $-11.8M | ||
| Q1 25 | $-3.3M | $-8.2M | ||
| Q4 24 | $-1.7M | $-5.9M | ||
| Q3 24 | $-1.3M | $-6.3M | ||
| Q2 24 | $-291.0K | $-6.1M | ||
| Q1 24 | $-5.4M | $-9.1M |
毛利率CEVARXST
| Q4 25 | 88.1% | 77.5% | ||
| Q3 25 | 88.0% | 79.9% | ||
| Q2 25 | 86.2% | 74.9% | ||
| Q1 25 | 85.6% | 74.8% | ||
| Q4 24 | 88.5% | 71.6% | ||
| Q3 24 | 85.4% | 71.4% | ||
| Q2 24 | 89.7% | 69.5% | ||
| Q1 24 | 88.7% | 70.1% |
营业利润率CEVARXST
| Q4 25 | -1.3% | -34.8% | ||
| Q3 25 | -7.3% | -40.1% | ||
| Q2 25 | -17.5% | -41.6% | ||
| Q1 25 | -18.1% | -28.2% | ||
| Q4 24 | 0.3% | -21.5% | ||
| Q3 24 | -9.6% | -26.1% | ||
| Q2 24 | -0.1% | -23.9% | ||
| Q1 24 | -22.5% | -36.2% |
净利率CEVARXST
| Q4 25 | -3.5% | -28.1% | ||
| Q3 25 | -8.8% | -32.4% | ||
| Q2 25 | -14.4% | -35.0% | ||
| Q1 25 | -13.7% | -21.6% | ||
| Q4 24 | -5.9% | -14.8% | ||
| Q3 24 | -4.8% | -17.9% | ||
| Q2 24 | -1.0% | -17.4% | ||
| Q1 24 | -24.7% | -30.8% |
每股收益（稀释后）CEVARXST
| Q4 25 | — | $-0.22 | ||
| Q3 25 | — | $-0.24 | ||
| Q2 25 | — | $-0.29 | ||
| Q1 25 | — | $-0.20 | ||
| Q4 24 | — | $-0.14 | ||
| Q3 24 | — | $-0.16 | ||
| Q2 24 | — | $-0.16 | ||
| Q1 24 | — | $-0.25 |
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 | $228.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $336.5M | $275.7M |
| 总资产 | $388.3M | $311.8M |
| 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CEVARXST
| Q4 25 | $40.6M | $228.1M | ||
| Q3 25 | $17.3M | $227.5M | ||
| Q2 25 | $29.1M | $227.5M | ||
| Q1 25 | $18.8M | $229.3M | ||
| Q4 24 | $18.8M | $237.2M | ||
| Q3 24 | $13.2M | $237.1M | ||
| Q2 24 | $25.0M | $233.3M | ||
| Q1 24 | $21.6M | $125.4M |
股东权益CEVARXST
| Q4 25 | $336.5M | $275.7M | ||
| Q3 25 | $268.7M | $276.0M | ||
| Q2 25 | $265.9M | $278.0M | ||
| Q1 25 | $269.1M | $279.3M | ||
| Q4 24 | $266.6M | $281.2M | ||
| Q3 24 | $265.8M | $277.3M | ||
| Q2 24 | $263.8M | $275.2M | ||
| Q1 24 | $262.3M | $163.9M |
总资产CEVARXST
| Q4 25 | $388.3M | $311.8M | ||
| Q3 25 | $306.0M | $308.5M | ||
| Q2 25 | $302.8M | $309.0M | ||
| Q1 25 | $310.0M | $313.0M | ||
| Q4 24 | $308.9M | $318.6M | ||
| Q3 24 | $304.9M | $310.5M | ||
| Q2 24 | $300.4M | $305.5M | ||
| Q1 24 | $301.4M | $183.2M |
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 | $-1.1M |
| 自由现金流经营现金流 - 资本支出 | $7.2M | $-2.3M |
| 自由现金流率自由现金流/营收 | 23.1% | -6.9% |
| 资本支出强度资本支出/营收 | 4.8% | 3.5% |
| 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 | $-19.3M |
8季度趋势，按日历期对齐
经营现金流CEVARXST
| Q4 25 | $8.7M | $-1.1M | ||
| Q3 25 | $-5.9M | $-1.2M | ||
| Q2 25 | $1.2M | $-4.4M | ||
| Q1 25 | $-7.4M | $-8.8M | ||
| Q4 24 | $8.0M | $-4.3M | ||
| Q3 24 | $399.0K | $650.0K | ||
| Q2 24 | $2.4M | $-4.0M | ||
| Q1 24 | $-7.3M | $-9.3M |
自由现金流CEVARXST
| Q4 25 | $7.2M | $-2.3M | ||
| Q3 25 | $-6.3M | $-1.8M | ||
| Q2 25 | $492.0K | $-5.9M | ||
| Q1 25 | $-7.7M | $-9.4M | ||
| Q4 24 | $7.0M | $-5.1M | ||
| Q3 24 | $-15.0K | $-453.0K | ||
| Q2 24 | $1.8M | $-5.5M | ||
| Q1 24 | $-8.3M | $-11.3M |
自由现金流率CEVARXST
| Q4 25 | 23.1% | -6.9% | ||
| Q3 25 | -22.1% | -5.8% | ||
| Q2 25 | 1.9% | -17.6% | ||
| Q1 25 | -31.8% | -24.8% | ||
| Q4 24 | 24.0% | -12.7% | ||
| Q3 24 | -0.1% | -1.3% | ||
| Q2 24 | 6.2% | -15.9% | ||
| Q1 24 | -37.4% | -38.2% |
资本支出强度CEVARXST
| Q4 25 | 4.8% | 3.5% | ||
| Q3 25 | 1.5% | 1.9% | ||
| Q2 25 | 2.7% | 4.6% | ||
| Q1 25 | 1.3% | 1.5% | ||
| Q4 24 | 3.5% | 2.1% | ||
| Q3 24 | 1.5% | 3.1% | ||
| Q2 24 | 2.1% | 4.4% | ||
| Q1 24 | 4.1% | 6.7% |
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% |
RXST
| Rxlal | $28.2M | 86% |
| LDD | $3.0M | 9% |
| Service Warranty Service Contracts And Accessories | $1.5M | 4% |
