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凯雷集团（CG）与RUSH ENTERPRISES INC \TX\（RUSHA）财务数据对比。点击上方公司名可切换其他公司
凯雷集团的季度营收约是RUSH ENTERPRISES INC \TX\的1.1倍（$1.9B vs $1.7B），凯雷集团净利率更高（18.8% vs 3.7%，领先15.2%），凯雷集团同比增速更快（84.1% vs -9.0%），RUSH ENTERPRISES INC \TX\自由现金流更多（$411.6M vs $-1.2B），过去两年凯雷集团的营收复合增速更高（66.2% vs -6.8%）
凯雷集团是美国知名跨国企业，核心业务涵盖私募股权投资、另类资产管理及金融服务领域。截至2023年，公司管理资产总规模达4260亿美元，是全球另类资管行业的重要参与者。
Rush Enterprises是总部位于美国得克萨斯州新布朗费尔斯的商用车经销商，核心业务是通过旗下Rush Truck Centers销售全新及二手卡车。2019年该公司在全美20个州运营超200家卡车中心，在加拿大设有14个网点，2020年入选财富500强榜单。
CG vs RUSHA — 直观对比
营收规模更大
CG
是对方的1.1倍
$1.7B
营收增速更快
CG
高出93.1%
-9.0%
净利率更高
CG
高出15.2%
3.7%
自由现金流更多
RUSHA
多$1.6B
$-1.2B
两年增速更快
CG
近两年复合增速
-6.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $1.7B |
| 净利润 | $358.1M | $61.7M |
| 毛利率 | — | 20.4% |
| 营业利润率 | 24.3% | 4.9% |
| 净利率 | 18.8% | 3.7% |
| 营收同比 | 84.1% | -9.0% |
| 净利润同比 | 69.8% | 1.8% |
| 每股收益（稀释后） | $0.96 | $0.77 |
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CGRUSHA
| Q1 26 | — | $1.7B | ||
| Q4 25 | $1.9B | $1.7B | ||
| Q3 25 | $332.7M | $1.8B | ||
| Q2 25 | $1.6B | $1.8B | ||
| Q1 25 | $973.1M | $1.8B | ||
| Q4 24 | $1.0B | $1.9B | ||
| Q3 24 | $2.6B | $1.8B | ||
| Q2 24 | $1.1B | $1.9B |
净利润CGRUSHA
| Q1 26 | — | $61.7M | ||
| Q4 25 | $358.1M | $64.3M | ||
| Q3 25 | $900.0K | $66.7M | ||
| Q2 25 | $319.7M | $72.4M | ||
| Q1 25 | $130.0M | $60.3M | ||
| Q4 24 | $210.9M | $74.8M | ||
| Q3 24 | $595.7M | $79.1M | ||
| Q2 24 | $148.2M | $78.7M |
毛利率CGRUSHA
| Q1 26 | — | 20.4% | ||
| Q4 25 | — | 20.8% | ||
| Q3 25 | — | 21.0% | ||
| Q2 25 | — | 20.7% | ||
| Q1 25 | — | 20.3% | ||
| Q4 24 | — | 19.3% | ||
| Q3 24 | — | 21.0% | ||
| Q2 24 | — | 20.2% |
营业利润率CGRUSHA
| Q1 26 | — | 4.9% | ||
| Q4 25 | 24.3% | 5.5% | ||
| Q3 25 | 25.8% | 5.6% | ||
| Q2 25 | 28.0% | 6.0% | ||
| Q1 25 | 17.6% | 5.2% | ||
| Q4 24 | 25.7% | 5.8% | ||
| Q3 24 | 29.9% | 6.7% | ||
| Q2 24 | 20.5% | 6.4% |
净利率CGRUSHA
| Q1 26 | — | 3.7% | ||
| Q4 25 | 18.8% | 3.8% | ||
| Q3 25 | 0.3% | 3.7% | ||
| Q2 25 | 20.3% | 3.9% | ||
| Q1 25 | 13.4% | 3.4% | ||
| Q4 24 | 20.4% | 3.9% | ||
| Q3 24 | 22.6% | 4.4% | ||
| Q2 24 | 13.9% | 4.1% |
每股收益（稀释后）CGRUSHA
| Q1 26 | — | $0.77 | ||
| Q4 25 | $0.96 | $0.81 | ||
| Q3 25 | $0.00 | $0.83 | ||
| Q2 25 | $0.87 | $0.90 | ||
| Q1 25 | $0.35 | $0.73 | ||
| Q4 24 | $0.56 | $-95.13 | ||
| Q3 24 | $1.63 | $0.97 | ||
| Q2 24 | $0.40 | $97.00 |
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 | $2.0B | — |
| 总债务越低越好 | — | $277.8M |
| 股东权益账面价值 | $7.1B | $2.3B |
| 总资产 | $29.1B | $4.5B |
| 负债/权益比越低杠杆越低 | — | 0.12× |
8季度趋势，按日历期对齐
现金及短期投资CGRUSHA
| Q1 26 | — | — | ||
| Q4 25 | $2.0B | $212.6M | ||
| Q3 25 | $2.2B | $242.0M | ||
| Q2 25 | $1.3B | $211.1M | ||
| Q1 25 | $1.2B | $228.7M | ||
| Q4 24 | $1.3B | $228.1M | ||
| Q3 24 | $1.4B | $185.1M | ||
| Q2 24 | $914.8M | $167.3M |
总债务CGRUSHA
| Q1 26 | — | $277.8M | ||
| Q4 25 | — | $274.8M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $408.4M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益CGRUSHA
| Q1 26 | — | $2.3B | ||
| Q4 25 | $7.1B | $2.2B | ||
| Q3 25 | $6.8B | $2.2B | ||
| Q2 25 | $6.7B | $2.2B | ||
| Q1 25 | $6.4B | $2.2B | ||
| Q4 24 | $6.3B | $2.1B | ||
| Q3 24 | $6.3B | $2.1B | ||
| Q2 24 | $5.7B | $2.0B |
总资产CGRUSHA
| Q1 26 | — | $4.5B | ||
| Q4 25 | $29.1B | $4.4B | ||
| Q3 25 | $27.1B | $4.6B | ||
| Q2 25 | $25.1B | $4.7B | ||
| Q1 25 | $24.1B | $4.7B | ||
| Q4 24 | $23.1B | $4.6B | ||
| Q3 24 | $22.7B | $4.6B | ||
| Q2 24 | $22.3B | $4.5B |
负债/权益比CGRUSHA
| Q1 26 | — | 0.12× | ||
| Q4 25 | — | 0.12× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.19× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $-1.2B | — |
| 自由现金流经营现金流 - 资本支出 | $-1.2B | $411.6M |
| 自由现金流率自由现金流/营收 | -65.1% | 24.4% |
| 资本支出强度资本支出/营收 | 2.2% | 2.0% |
| 现金转化率经营现金流/净利润 | -3.34× | — |
| 过去12个月自由现金流最近4个季度 | $-3.4B | $828.4M |
8季度趋势，按日历期对齐
经营现金流CGRUSHA
| Q1 26 | — | — | ||
| Q4 25 | $-1.2B | $112.9M | ||
| Q3 25 | $-1.6B | $367.8M | ||
| Q2 25 | $-168.8M | $227.6M | ||
| Q1 25 | $-352.1M | $153.5M | ||
| Q4 24 | $-352.8M | $392.3M | ||
| Q3 24 | $791.9M | $111.7M | ||
| Q2 24 | $-1.3B | $270.6M |
自由现金流CGRUSHA
| Q1 26 | — | $411.6M | ||
| Q4 25 | $-1.2B | $31.9M | ||
| Q3 25 | $-1.6B | $271.2M | ||
| Q2 25 | $-186.3M | $113.8M | ||
| Q1 25 | $-368.8M | $45.1M | ||
| Q4 24 | $-379.5M | $263.5M | ||
| Q3 24 | $772.8M | $-20.0M | ||
| Q2 24 | $-1.3B | $177.2M |
自由现金流率CGRUSHA
| Q1 26 | — | 24.4% | ||
| Q4 25 | -65.1% | 1.9% | ||
| Q3 25 | -475.7% | 15.2% | ||
| Q2 25 | -11.8% | 6.2% | ||
| Q1 25 | -37.9% | 2.6% | ||
| Q4 24 | -36.8% | 13.7% | ||
| Q3 24 | 29.3% | -1.1% | ||
| Q2 24 | -120.4% | 9.1% |
资本支出强度CGRUSHA
| Q1 26 | — | 2.0% | ||
| Q4 25 | 2.2% | 4.8% | ||
| Q3 25 | 7.0% | 5.4% | ||
| Q2 25 | 1.1% | 6.2% | ||
| Q1 25 | 1.7% | 6.2% | ||
| Q4 24 | 2.6% | 6.7% | ||
| Q3 24 | 0.7% | 7.3% | ||
| Q2 24 | 1.7% | 4.8% |
现金转化率CGRUSHA
| Q1 26 | — | — | ||
| Q4 25 | -3.34× | 1.75× | ||
| Q3 25 | -1732.78× | 5.51× | ||
| Q2 25 | -0.53× | 3.14× | ||
| Q1 25 | -2.71× | 2.55× | ||
| Q4 24 | -1.67× | 5.25× | ||
| Q3 24 | 1.33× | 1.41× | ||
| Q2 24 | -8.57× | 3.44× |
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
CG
| Fund Management Fee | $606.8M | 32% |
| Other | $528.7M | 28% |
| Global Private Equity Segment | $307.3M | 16% |
| Global Credit Segment | $238.0M | 13% |
| Carlyle Alp Invest Segment | $124.6M | 7% |
| Incentive Fee | $55.4M | 3% |
| Fee Related Performance Revenues | $29.2M | 2% |
| Investment Advice | $11.1M | 1% |
RUSHA
| New and used commercial vehicle sales | $955.1M | 57% |
| Aftermarket products and services sales | $627.2M | 37% |
| Lease and rental sales | $92.3M | 5% |
| Finance and insurance | $5.6M | 0% |
