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C.H. Robinson（CHRW）与TENET HEALTHCARE CORP（THC）财务数据对比。点击上方公司名可切换其他公司
TENET HEALTHCARE CORP的季度营收约是C.H. Robinson的1.4倍（$5.5B vs $3.9B），TENET HEALTHCARE CORP净利率更高（11.7% vs 3.5%，领先8.2%），TENET HEALTHCARE CORP同比增速更快（9.0% vs -6.5%），TENET HEALTHCARE CORP自由现金流更多（$367.0M vs $302.4M），过去两年TENET HEALTHCARE CORP的营收复合增速更高（1.5% 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。
Tenet Healthcare Corporation是总部位于美国达拉斯的营利性跨国医疗服务企业，旗下拥有USPI等多个品牌、子公司、合资企业及合作主体，运营65家医院及超过450个医疗设施，还通过旗下Conifer Health Solutions为各类医疗系统及其他客户提供专业医疗支持服务
CHRW vs THC — 直观对比
营收规模更大
THC
是对方的1.4倍
$3.9B
营收增速更快
THC
高出15.5%
-6.5%
净利率更高
THC
高出8.2%
3.5%
自由现金流更多
THC
多$64.6M
$302.4M
两年增速更快
THC
近两年复合增速
-5.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.9B | $5.5B |
| 净利润 | $136.3M | $644.0M |
| 毛利率 | — | — |
| 营业利润率 | 4.6% | 15.4% |
| 净利率 | 3.5% | 11.7% |
| 营收同比 | -6.5% | 9.0% |
| 净利润同比 | -8.7% | 12.6% |
| 每股收益（稀释后） | $1.12 | $4.22 |
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CHRWTHC
| Q4 25 | $3.9B | $5.5B | ||
| Q3 25 | $4.1B | $5.3B | ||
| Q2 25 | $4.1B | $5.3B | ||
| Q1 25 | $4.0B | $5.2B | ||
| Q4 24 | $4.2B | $5.1B | ||
| Q3 24 | $4.6B | $5.1B | ||
| Q2 24 | $4.5B | $5.1B | ||
| Q1 24 | $4.4B | $5.4B |
净利润CHRWTHC
| Q4 25 | $136.3M | $644.0M | ||
| Q3 25 | $163.0M | $579.0M | ||
| Q2 25 | $152.5M | $522.0M | ||
| Q1 25 | $135.3M | $622.0M | ||
| Q4 24 | $149.3M | $572.0M | ||
| Q3 24 | $97.2M | $681.0M | ||
| Q2 24 | $126.3M | $477.0M | ||
| Q1 24 | $92.9M | $2.3B |
营业利润率CHRWTHC
| Q4 25 | 4.6% | 15.4% | ||
| Q3 25 | 5.3% | 16.8% | ||
| Q2 25 | 5.2% | 15.6% | ||
| Q1 25 | 4.4% | 18.1% | ||
| Q4 24 | 4.4% | 16.2% | ||
| Q3 24 | 3.9% | 21.3% | ||
| Q2 24 | 4.0% | 14.9% | ||
| Q1 24 | 2.9% | 61.2% |
净利率CHRWTHC
| Q4 25 | 3.5% | 11.7% | ||
| Q3 25 | 3.9% | 10.9% | ||
| Q2 25 | 3.7% | 9.9% | ||
| Q1 25 | 3.3% | 11.9% | ||
| Q4 24 | 3.6% | 11.3% | ||
| Q3 24 | 2.1% | 13.3% | ||
| Q2 24 | 2.8% | 9.3% | ||
| Q1 24 | 2.1% | 43.5% |
每股收益（稀释后）CHRWTHC
| Q4 25 | $1.12 | $4.22 | ||
| Q3 25 | $1.34 | $3.86 | ||
| Q2 25 | $1.26 | $3.14 | ||
| Q1 25 | $1.11 | $4.27 | ||
| Q4 24 | $1.23 | $3.79 | ||
| Q3 24 | $0.80 | $4.89 | ||
| Q2 24 | $1.05 | $2.64 | ||
| Q1 24 | $0.78 | $21.38 |
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 | $2.9B |
| 总债务越低越好 | $1.1B | $13.1B |
| 股东权益账面价值 | $1.8B | $4.2B |
| 总资产 | $5.1B | $29.7B |
| 负债/权益比越低杠杆越低 | 0.59× | 3.10× |
8季度趋势，按日历期对齐
现金及短期投资CHRWTHC
| Q4 25 | $160.9M | $2.9B | ||
| Q3 25 | $136.8M | $3.0B | ||
| Q2 25 | $156.0M | $2.6B | ||
| Q1 25 | $129.9M | $3.0B | ||
| Q4 24 | $145.8M | $3.0B | ||
| Q3 24 | $131.7M | $4.1B | ||
| Q2 24 | $113.2M | $2.9B | ||
| Q1 24 | $121.8M | $2.5B |
总债务CHRWTHC
| Q4 25 | $1.1B | $13.1B | ||
| Q3 25 | $1.2B | $13.1B | ||
| Q2 25 | $1.4B | $13.1B | ||
| Q1 25 | $1.4B | $13.1B | ||
| Q4 24 | $1.4B | $13.1B | ||
| Q3 24 | $1.6B | $12.8B | ||
| Q2 24 | $1.6B | $12.8B | ||
| Q1 24 | $1.7B | $12.8B |
股东权益CHRWTHC
| Q4 25 | $1.8B | $4.2B | ||
| Q3 25 | $1.9B | $4.0B | ||
| Q2 25 | $1.8B | $3.7B | ||
| Q1 25 | $1.7B | $4.2B | ||
| Q4 24 | $1.7B | $4.2B | ||
| Q3 24 | $1.6B | $3.8B | ||
| Q2 24 | $1.5B | $3.5B | ||
| Q1 24 | $1.4B | $3.5B |
总资产CHRWTHC
| Q4 25 | $5.1B | $29.7B | ||
| Q3 25 | $5.2B | $29.4B | ||
| Q2 25 | $5.3B | $28.7B | ||
| Q1 25 | $5.2B | $29.2B | ||
| Q4 24 | $5.3B | $28.9B | ||
| Q3 24 | $5.6B | $29.4B | ||
| Q2 24 | $5.5B | $29.3B | ||
| Q1 24 | $5.5B | $28.9B |
负债/权益比CHRWTHC
| Q4 25 | 0.59× | 3.10× | ||
| Q3 25 | 0.64× | 3.26× | ||
| Q2 25 | 0.76× | 3.49× | ||
| Q1 25 | 0.80× | 3.13× | ||
| Q4 24 | 0.80× | 3.14× | ||
| Q3 24 | 0.95× | 3.33× | ||
| Q2 24 | 1.07× | 3.67× | ||
| Q1 24 | 1.19× | 3.70× |
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 | $731.0M |
| 自由现金流经营现金流 - 资本支出 | $302.4M | $367.0M |
| 自由现金流率自由现金流/营收 | 7.7% | 6.6% |
| 资本支出强度资本支出/营收 | 0.1% | 6.6% |
| 现金转化率经营现金流/净利润 | 2.24× | 1.14× |
| 过去12个月自由现金流最近4个季度 | $894.9M | $2.5B |
8季度趋势，按日历期对齐
经营现金流CHRWTHC
| Q4 25 | $305.4M | $731.0M | ||
| Q3 25 | $275.4M | $1.1B | ||
| Q2 25 | $227.1M | $936.0M | ||
| Q1 25 | $106.5M | $815.0M | ||
| Q4 24 | $267.9M | $-331.0M | ||
| Q3 24 | $108.1M | $1.0B | ||
| Q2 24 | $166.4M | $747.0M | ||
| Q1 24 | $-33.3M | $586.0M |
自由现金流CHRWTHC
| Q4 25 | $302.4M | $367.0M | ||
| Q3 25 | $269.5M | $778.0M | ||
| Q2 25 | $219.8M | $743.0M | ||
| Q1 25 | $103.2M | $642.0M | ||
| Q4 24 | $265.3M | $-661.0M | ||
| Q3 24 | $103.3M | $829.0M | ||
| Q2 24 | $159.8M | $602.0M | ||
| Q1 24 | $-41.9M | $346.0M |
自由现金流率CHRWTHC
| Q4 25 | 7.7% | 6.6% | ||
| Q3 25 | 6.5% | 14.7% | ||
| Q2 25 | 5.3% | 14.1% | ||
| Q1 25 | 2.5% | 12.3% | ||
| Q4 24 | 6.3% | -13.0% | ||
| Q3 24 | 2.2% | 16.2% | ||
| Q2 24 | 3.6% | 11.8% | ||
| Q1 24 | -1.0% | 6.4% |
资本支出强度CHRWTHC
| Q4 25 | 0.1% | 6.6% | ||
| Q3 25 | 0.1% | 5.3% | ||
| Q2 25 | 0.2% | 3.7% | ||
| Q1 25 | 0.1% | 3.3% | ||
| Q4 24 | 0.1% | 6.5% | ||
| Q3 24 | 0.1% | 4.2% | ||
| Q2 24 | 0.1% | 2.8% | ||
| Q1 24 | 0.2% | 4.5% |
现金转化率CHRWTHC
| Q4 25 | 2.24× | 1.14× | ||
| Q3 25 | 1.69× | 1.83× | ||
| Q2 25 | 1.49× | 1.79× | ||
| Q1 25 | 0.79× | 1.31× | ||
| Q4 24 | 1.79× | -0.58× | ||
| Q3 24 | 1.11× | 1.53× | ||
| Q2 24 | 1.32× | 1.57× | ||
| Q1 24 | -0.36× | 0.25× |
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% |
THC
| Other | $2.9B | 52% |
| Health Care Patient Service | $1.4B | 25% |
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $1.2B | 22% |
| Health Care Other Sources | $56.0M | 1% |
