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基华物流（CEVA）与Trade Desk (The)（TTD）财务数据对比。点击上方公司名可切换其他公司
Trade Desk (The)的季度营收约是基华物流的27.1倍（$846.8M vs $31.3M）。Trade Desk (The)净利率更高（22.1% vs -3.5%，领先25.6%）。Trade Desk (The)同比增速更快（14.3% vs 7.1%）。Trade Desk (The)自由现金流更多（$285.3M vs $7.2M）。过去两年Trade Desk (The)的营收复合增速更高（31.3% 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。
The Trade Desk是来自美国的跨国科技企业，专注于实时程序化营销自动化领域的技术、产品与服务研发，可实现面向用户的个性化数字内容分发，为全球广告营销行业客户提供专业解决方案。
CEVA vs TTD — 直观对比
营收规模更大
TTD
是对方的27.1倍
$31.3M
营收增速更快
TTD
高出7.2%
7.1%
净利率更高
TTD
高出25.6%
-3.5%
自由现金流更多
TTD
多$278.0M
$7.2M
两年增速更快
TTD
近两年复合增速
19.1%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $31.3M | $846.8M |
| 净利润 | $-1.1M | $186.9M |
| 毛利率 | 88.1% | 80.7% |
| 营业利润率 | -1.3% | 30.3% |
| 净利率 | -3.5% | 22.1% |
| 营收同比 | 7.1% | 14.3% |
| 净利润同比 | 36.8% | 2.6% |
| 每股收益（稀释后） | — | $0.39 |
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CEVATTD
| Q4 25 | $31.3M | $846.8M | ||
| Q3 25 | $28.4M | $739.4M | ||
| Q2 25 | $25.7M | $694.0M | ||
| Q1 25 | $24.2M | $616.0M | ||
| Q4 24 | $29.2M | $741.0M | ||
| Q3 24 | $27.2M | $628.0M | ||
| Q2 24 | $28.4M | $584.5M | ||
| Q1 24 | $22.1M | $491.3M |
净利润CEVATTD
| Q4 25 | $-1.1M | $186.9M | ||
| Q3 25 | $-2.5M | $115.5M | ||
| Q2 25 | $-3.7M | $90.1M | ||
| Q1 25 | $-3.3M | $50.7M | ||
| Q4 24 | $-1.7M | $182.2M | ||
| Q3 24 | $-1.3M | $94.2M | ||
| Q2 24 | $-291.0K | $85.0M | ||
| Q1 24 | $-5.4M | $31.7M |
毛利率CEVATTD
| Q4 25 | 88.1% | 80.7% | ||
| Q3 25 | 88.0% | 78.1% | ||
| Q2 25 | 86.2% | 78.2% | ||
| Q1 25 | 85.6% | 76.8% | ||
| Q4 24 | 88.5% | 81.7% | ||
| Q3 24 | 85.4% | 80.5% | ||
| Q2 24 | 89.7% | 81.1% | ||
| Q1 24 | 88.7% | 78.9% |
营业利润率CEVATTD
| Q4 25 | -1.3% | 30.3% | ||
| Q3 25 | -7.3% | 21.8% | ||
| Q2 25 | -17.5% | 16.8% | ||
| Q1 25 | -18.1% | 8.8% | ||
| Q4 24 | 0.3% | 26.4% | ||
| Q3 24 | -9.6% | 17.3% | ||
| Q2 24 | -0.1% | 16.2% | ||
| Q1 24 | -22.5% | 5.8% |
净利率CEVATTD
| Q4 25 | -3.5% | 22.1% | ||
| Q3 25 | -8.8% | 15.6% | ||
| Q2 25 | -14.4% | 13.0% | ||
| Q1 25 | -13.7% | 8.2% | ||
| Q4 24 | -5.9% | 24.6% | ||
| Q3 24 | -4.8% | 15.0% | ||
| Q2 24 | -1.0% | 14.5% | ||
| Q1 24 | -24.7% | 6.4% |
每股收益（稀释后）CEVATTD
| Q4 25 | — | $0.39 | ||
| Q3 25 | — | $0.23 | ||
| Q2 25 | — | $0.18 | ||
| Q1 25 | — | $0.10 | ||
| Q4 24 | — | $0.36 | ||
| Q3 24 | — | $0.19 | ||
| Q2 24 | — | $0.17 | ||
| Q1 24 | — | $0.06 |
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 | $1.3B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $336.5M | $2.5B |
| 总资产 | $388.3M | $6.2B |
| 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CEVATTD
| Q4 25 | $40.6M | $1.3B | ||
| Q3 25 | $17.3M | $1.4B | ||
| Q2 25 | $29.1M | $1.7B | ||
| Q1 25 | $18.8M | $1.7B | ||
| Q4 24 | $18.8M | $1.9B | ||
| Q3 24 | $13.2M | $1.7B | ||
| Q2 24 | $25.0M | $1.5B | ||
| Q1 24 | $21.6M | $1.4B |
股东权益CEVATTD
| Q4 25 | $336.5M | $2.5B | ||
| Q3 25 | $268.7M | $2.6B | ||
| Q2 25 | $265.9M | $2.7B | ||
| Q1 25 | $269.1M | $2.7B | ||
| Q4 24 | $266.6M | $2.9B | ||
| Q3 24 | $265.8M | $2.6B | ||
| Q2 24 | $263.8M | $2.4B | ||
| Q1 24 | $262.3M | $2.2B |
总资产CEVATTD
| Q4 25 | $388.3M | $6.2B | ||
| Q3 25 | $306.0M | $5.9B | ||
| Q2 25 | $302.8M | $6.0B | ||
| Q1 25 | $310.0M | $5.7B | ||
| Q4 24 | $308.9M | $6.1B | ||
| Q3 24 | $304.9M | $5.5B | ||
| Q2 24 | $300.4M | $5.2B | ||
| Q1 24 | $301.4M | $4.7B |
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 | $311.6M |
| 自由现金流经营现金流 - 资本支出 | $7.2M | $285.3M |
| 自由现金流率自由现金流/营收 | 23.1% | 33.7% |
| 资本支出强度资本支出/营收 | 4.8% | 3.1% |
| 现金转化率经营现金流/净利润 | — | 1.67× |
| 过去12个月自由现金流最近4个季度 | $-6.3M | $795.7M |
8季度趋势，按日历期对齐
经营现金流CEVATTD
| Q4 25 | $8.7M | $311.6M | ||
| Q3 25 | $-5.9M | $224.7M | ||
| Q2 25 | $1.2M | $165.0M | ||
| Q1 25 | $-7.4M | $291.4M | ||
| Q4 24 | $8.0M | $199.4M | ||
| Q3 24 | $399.0K | $273.3M | ||
| Q2 24 | $2.4M | $81.3M | ||
| Q1 24 | $-7.3M | $185.5M |
自由现金流CEVATTD
| Q4 25 | $7.2M | $285.3M | ||
| Q3 25 | $-6.3M | $158.3M | ||
| Q2 25 | $492.0K | $119.8M | ||
| Q1 25 | $-7.7M | $232.3M | ||
| Q4 24 | $7.0M | $179.2M | ||
| Q3 24 | $-15.0K | $224.6M | ||
| Q2 24 | $1.8M | $59.1M | ||
| Q1 24 | $-8.3M | $178.2M |
自由现金流率CEVATTD
| Q4 25 | 23.1% | 33.7% | ||
| Q3 25 | -22.1% | 21.4% | ||
| Q2 25 | 1.9% | 17.3% | ||
| Q1 25 | -31.8% | 37.7% | ||
| Q4 24 | 24.0% | 24.2% | ||
| Q3 24 | -0.1% | 35.8% | ||
| Q2 24 | 6.2% | 10.1% | ||
| Q1 24 | -37.4% | 36.3% |
资本支出强度CEVATTD
| Q4 25 | 4.8% | 3.1% | ||
| Q3 25 | 1.5% | 9.0% | ||
| Q2 25 | 2.7% | 6.5% | ||
| Q1 25 | 1.3% | 9.6% | ||
| Q4 24 | 3.5% | 2.7% | ||
| Q3 24 | 1.5% | 7.8% | ||
| Q2 24 | 2.1% | 3.8% | ||
| Q1 24 | 4.1% | 1.5% |
现金转化率CEVATTD
| Q4 25 | — | 1.67× | ||
| Q3 25 | — | 1.94× | ||
| Q2 25 | — | 1.83× | ||
| Q1 25 | — | 5.75× | ||
| Q4 24 | — | 1.09× | ||
| Q3 24 | — | 2.90× | ||
| Q2 24 | — | 0.96× | ||
| Q1 24 | — | 5.86× |
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% |
TTD
暂无分部数据
