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C.H. Robinson（CHRW）与KeyCorp（KEY）财务数据对比。点击上方公司名可切换其他公司
C.H. Robinson的季度营收约是KeyCorp的2.0倍（$3.9B vs $2.0B），KeyCorp净利率更高（25.4% vs 3.5%，领先22.0%），KeyCorp同比增速更快（131.8% vs -6.5%），KeyCorp自由现金流更多（$2.1B vs $302.4M），过去两年KeyCorp的营收复合增速更高（14.4% vs -5.8%）
C.H. Robinson是美国知名第三方物流与运输服务企业，业务涵盖货运代理、运输管理、中介经纪及仓储服务，可提供整车、零担、空运、多式联运、海运等多种运输解决方案，满足全球客户差异化物流需求。
Key是日本知名视觉小说工作室，1998年7月21日作为发行商Visual Arts旗下品牌成立，总部位于大阪市北区。工作室主打剧情向作品，擅长创作情感饱满、情节跌宕的戏剧类内容，旗下多款作品深受全球ACG爱好者喜爱。
CHRW vs KEY — 直观对比
营收规模更大
CHRW
是对方的2.0倍
$2.0B
营收增速更快
KEY
高出138.3%
-6.5%
净利率更高
KEY
高出22.0%
3.5%
自由现金流更多
KEY
多$1.8B
$302.4M
两年增速更快
KEY
近两年复合增速
-5.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.9B | $2.0B |
| 净利润 | $136.3M | $510.0M |
| 毛利率 | — | — |
| 营业利润率 | 4.6% | 32.3% |
| 净利率 | 3.5% | 25.4% |
| 营收同比 | -6.5% | 131.8% |
| 净利润同比 | -8.7% | 309.0% |
| 每股收益（稀释后） | $1.12 | $0.43 |
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CHRWKEY
| Q4 25 | $3.9B | $2.0B | ||
| Q3 25 | $4.1B | $1.9B | ||
| Q2 25 | $4.1B | $1.8B | ||
| Q1 25 | $4.0B | $1.8B | ||
| Q4 24 | $4.2B | $865.0M | ||
| Q3 24 | $4.6B | $695.0M | ||
| Q2 24 | $4.5B | $1.5B | ||
| Q1 24 | $4.4B | $1.5B |
净利润CHRWKEY
| Q4 25 | $136.3M | $510.0M | ||
| Q3 25 | $163.0M | $489.0M | ||
| Q2 25 | $152.5M | $425.0M | ||
| Q1 25 | $135.3M | $405.0M | ||
| Q4 24 | $149.3M | $-244.0M | ||
| Q3 24 | $97.2M | $-410.0M | ||
| Q2 24 | $126.3M | $274.0M | ||
| Q1 24 | $92.9M | $219.0M |
营业利润率CHRWKEY
| Q4 25 | 4.6% | 32.3% | ||
| Q3 25 | 5.3% | 31.8% | ||
| Q2 25 | 5.2% | 29.3% | ||
| Q1 25 | 4.4% | 29.0% | ||
| Q4 24 | 4.4% | -92.6% | ||
| Q3 24 | 3.9% | -72.8% | ||
| Q2 24 | 4.0% | 22.0% | ||
| Q1 24 | 2.9% | 18.1% |
净利率CHRWKEY
| Q4 25 | 3.5% | 25.4% | ||
| Q3 25 | 3.9% | 25.8% | ||
| Q2 25 | 3.7% | 23.1% | ||
| Q1 25 | 3.3% | 22.8% | ||
| Q4 24 | 3.6% | -54.7% | ||
| Q3 24 | 2.1% | -59.0% | ||
| Q2 24 | 2.8% | 18.0% | ||
| Q1 24 | 2.1% | 14.3% |
每股收益（稀释后）CHRWKEY
| Q4 25 | $1.12 | $0.43 | ||
| Q3 25 | $1.34 | $0.41 | ||
| Q2 25 | $1.26 | $0.35 | ||
| Q1 25 | $1.11 | $0.33 | ||
| Q4 24 | $1.23 | $-0.30 | ||
| Q3 24 | $0.80 | $-0.47 | ||
| Q2 24 | $1.05 | $0.25 | ||
| Q1 24 | $0.78 | $0.20 |
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 | $160.9M | $10.2B |
| 总债务越低越好 | $1.1B | $9.9B |
| 股东权益账面价值 | $1.8B | $20.4B |
| 总资产 | $5.1B | $184.4B |
| 负债/权益比越低杠杆越低 | 0.59× | 0.49× |
8季度趋势，按日历期对齐
现金及短期投资CHRWKEY
| Q4 25 | $160.9M | $10.2B | ||
| Q3 25 | $136.8M | $13.3B | ||
| Q2 25 | $156.0M | $11.6B | ||
| Q1 25 | $129.9M | $15.3B | ||
| Q4 24 | $145.8M | $17.5B | ||
| Q3 24 | $131.7M | $22.8B | ||
| Q2 24 | $113.2M | $15.5B | ||
| Q1 24 | $121.8M | $13.2B |
总债务CHRWKEY
| Q4 25 | $1.1B | $9.9B | ||
| Q3 25 | $1.2B | $10.9B | ||
| Q2 25 | $1.4B | $12.1B | ||
| Q1 25 | $1.4B | $12.4B | ||
| Q4 24 | $1.4B | $12.1B | ||
| Q3 24 | $1.6B | $15.7B | ||
| Q2 24 | $1.6B | $16.9B | ||
| Q1 24 | $1.7B | $20.8B |
股东权益CHRWKEY
| Q4 25 | $1.8B | $20.4B | ||
| Q3 25 | $1.9B | $20.1B | ||
| Q2 25 | $1.8B | $19.5B | ||
| Q1 25 | $1.7B | $19.0B | ||
| Q4 24 | $1.7B | $18.2B | ||
| Q3 24 | $1.6B | $16.9B | ||
| Q2 24 | $1.5B | $14.8B | ||
| Q1 24 | $1.4B | $14.5B |
总资产CHRWKEY
| Q4 25 | $5.1B | $184.4B | ||
| Q3 25 | $5.2B | $187.4B | ||
| Q2 25 | $5.3B | $185.5B | ||
| Q1 25 | $5.2B | $188.7B | ||
| Q4 24 | $5.3B | $187.2B | ||
| Q3 24 | $5.6B | $189.8B | ||
| Q2 24 | $5.5B | $187.4B | ||
| Q1 24 | $5.5B | $187.5B |
负债/权益比CHRWKEY
| Q4 25 | 0.59× | 0.49× | ||
| Q3 25 | 0.64× | 0.54× | ||
| Q2 25 | 0.76× | 0.62× | ||
| Q1 25 | 0.80× | 0.65× | ||
| Q4 24 | 0.80× | 0.67× | ||
| Q3 24 | 0.95× | 0.93× | ||
| Q2 24 | 1.07× | 1.14× | ||
| Q1 24 | 1.19× | 1.43× |
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 | $305.4M | $2.2B |
| 自由现金流经营现金流 - 资本支出 | $302.4M | $2.1B |
| 自由现金流率自由现金流/营收 | 7.7% | 104.8% |
| 资本支出强度资本支出/营收 | 0.1% | 5.3% |
| 现金转化率经营现金流/净利润 | 2.24× | 4.33× |
| 过去12个月自由现金流最近4个季度 | $894.9M | $3.5B |
8季度趋势，按日历期对齐
经营现金流CHRWKEY
| Q4 25 | $305.4M | $2.2B | ||
| Q3 25 | $275.4M | $396.0M | ||
| Q2 25 | $227.1M | $1.2B | ||
| Q1 25 | $106.5M | $-140.0M | ||
| Q4 24 | $267.9M | $664.0M | ||
| Q3 24 | $108.1M | $-1.2B | ||
| Q2 24 | $166.4M | $-217.0M | ||
| Q1 24 | $-33.3M | $359.0M |
自由现金流CHRWKEY
| Q4 25 | $302.4M | $2.1B | ||
| Q3 25 | $269.5M | $367.0M | ||
| Q2 25 | $219.8M | $1.2B | ||
| Q1 25 | $103.2M | $-150.0M | ||
| Q4 24 | $265.3M | $599.0M | ||
| Q3 24 | $103.3M | $-1.2B | ||
| Q2 24 | $159.8M | $-230.0M | ||
| Q1 24 | $-41.9M | $347.0M |
自由现金流率CHRWKEY
| Q4 25 | 7.7% | 104.8% | ||
| Q3 25 | 6.5% | 19.4% | ||
| Q2 25 | 5.3% | 65.8% | ||
| Q1 25 | 2.5% | -8.5% | ||
| Q4 24 | 6.3% | 69.2% | ||
| Q3 24 | 2.2% | -175.8% | ||
| Q2 24 | 3.6% | -15.1% | ||
| Q1 24 | -1.0% | 22.6% |
资本支出强度CHRWKEY
| Q4 25 | 0.1% | 5.3% | ||
| Q3 25 | 0.1% | 1.5% | ||
| Q2 25 | 0.2% | 1.3% | ||
| Q1 25 | 0.1% | 0.6% | ||
| Q4 24 | 0.1% | 7.5% | ||
| Q3 24 | 0.1% | 2.4% | ||
| Q2 24 | 0.1% | 0.9% | ||
| Q1 24 | 0.2% | 0.8% |
现金转化率CHRWKEY
| Q4 25 | 2.24× | 4.33× | ||
| Q3 25 | 1.69× | 0.81× | ||
| Q2 25 | 1.49× | 2.90× | ||
| Q1 25 | 0.79× | -0.35× | ||
| Q4 24 | 1.79× | — | ||
| Q3 24 | 1.11× | — | ||
| Q2 24 | 1.32× | -0.79× | ||
| Q1 24 | -0.36× | 1.64× |
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
CHRW
| North American Service Transportation NAST | $2.8B | 72% |
| Global Forwarding | $731.0M | 19% |
| Sourcing | $340.9M | 9% |
KEY
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