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C.H. Robinson（CHRW）与泰佩思琦（TPR）财务数据对比。点击上方公司名可切换其他公司
C.H. Robinson的季度营收约是泰佩思琦的1.6倍（$3.9B vs $2.5B），泰佩思琦净利率更高（22.4% vs 3.5%，领先18.9%），泰佩思琦同比增速更快（14.0% vs -6.5%），泰佩思琦自由现金流更多（$1.0B vs $302.4M），过去两年泰佩思琦的营收复合增速更高（29.9% 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。
Tapestry, Inc.是美国知名跨国奢侈品时尚控股企业，旗下拥有Coach、Kate Spade New York、Stuart Weitzman三大标志性生活方式品牌，主营高端手袋、服饰、鞋履、配饰及香水产品，销售渠道覆盖全球线下门店与线上电商平台。
CHRW vs TPR — 直观对比
营收规模更大
CHRW
是对方的1.6倍
$2.5B
营收增速更快
TPR
高出20.5%
-6.5%
净利率更高
TPR
高出18.9%
3.5%
自由现金流更多
TPR
多$735.1M
$302.4M
两年增速更快
TPR
近两年复合增速
-5.8%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.9B | $2.5B |
| 净利润 | $136.3M | $561.3M |
| 毛利率 | — | 75.5% |
| 营业利润率 | 4.6% | 28.6% |
| 净利率 | 3.5% | 22.4% |
| 营收同比 | -6.5% | 14.0% |
| 净利润同比 | -8.7% | 80.8% |
| 每股收益（稀释后） | $1.12 | $2.68 |
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CHRWTPR
| Q4 25 | $3.9B | $2.5B | ||
| Q3 25 | $4.1B | $1.7B | ||
| Q2 25 | $4.1B | $1.7B | ||
| Q1 25 | $4.0B | $1.6B | ||
| Q4 24 | $4.2B | $2.2B | ||
| Q3 24 | $4.6B | $1.5B | ||
| Q2 24 | $4.5B | $1.6B | ||
| Q1 24 | $4.4B | $1.5B |
净利润CHRWTPR
| Q4 25 | $136.3M | $561.3M | ||
| Q3 25 | $163.0M | $274.8M | ||
| Q2 25 | $152.5M | $-517.1M | ||
| Q1 25 | $135.3M | $203.3M | ||
| Q4 24 | $149.3M | $310.4M | ||
| Q3 24 | $97.2M | $186.6M | ||
| Q2 24 | $126.3M | $159.3M | ||
| Q1 24 | $92.9M | $139.4M |
毛利率CHRWTPR
| Q4 25 | — | 75.5% | ||
| Q3 25 | — | 76.3% | ||
| Q2 25 | — | 76.3% | ||
| Q1 25 | — | 76.1% | ||
| Q4 24 | — | 74.4% | ||
| Q3 24 | — | 75.3% | ||
| Q2 24 | — | 74.9% | ||
| Q1 24 | — | 74.7% |
营业利润率CHRWTPR
| Q4 25 | 4.6% | 28.6% | ||
| Q3 25 | 5.3% | 19.3% | ||
| Q2 25 | 5.2% | -33.9% | ||
| Q1 25 | 4.4% | 16.0% | ||
| Q4 24 | 4.4% | 22.4% | ||
| Q3 24 | 3.9% | 16.7% | ||
| Q2 24 | 4.0% | 14.8% | ||
| Q1 24 | 2.9% | 13.8% |
净利率CHRWTPR
| Q4 25 | 3.5% | 22.4% | ||
| Q3 25 | 3.9% | 16.1% | ||
| Q2 25 | 3.7% | -30.0% | ||
| Q1 25 | 3.3% | 12.8% | ||
| Q4 24 | 3.6% | 14.1% | ||
| Q3 24 | 2.1% | 12.4% | ||
| Q2 24 | 2.8% | 10.0% | ||
| Q1 24 | 2.1% | 9.4% |
每股收益（稀释后）CHRWTPR
| Q4 25 | $1.12 | $2.68 | ||
| Q3 25 | $1.34 | $1.28 | ||
| Q2 25 | $1.26 | $-2.30 | ||
| Q1 25 | $1.11 | $0.95 | ||
| Q4 24 | $1.23 | $1.38 | ||
| Q3 24 | $0.80 | $0.79 | ||
| Q2 24 | $1.05 | $0.67 | ||
| Q1 24 | $0.78 | $0.60 |
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 | $1.1B |
| 总债务越低越好 | $1.1B | $2.4B |
| 股东权益账面价值 | $1.8B | $551.2M |
| 总资产 | $5.1B | $6.5B |
| 负债/权益比越低杠杆越低 | 0.59× | 4.32× |
8季度趋势，按日历期对齐
现金及短期投资CHRWTPR
| Q4 25 | $160.9M | $1.1B | ||
| Q3 25 | $136.8M | $743.2M | ||
| Q2 25 | $156.0M | $1.1B | ||
| Q1 25 | $129.9M | $1.1B | ||
| Q4 24 | $145.8M | $1.0B | ||
| Q3 24 | $131.7M | $7.3B | ||
| Q2 24 | $113.2M | $7.2B | ||
| Q1 24 | $121.8M | $7.4B |
总债务CHRWTPR
| Q4 25 | $1.1B | $2.4B | ||
| Q3 25 | $1.2B | $2.4B | ||
| Q2 25 | $1.4B | $2.4B | ||
| Q1 25 | $1.4B | $2.4B | ||
| Q4 24 | $1.4B | $2.4B | ||
| Q3 24 | $1.6B | $7.0B | ||
| Q2 24 | $1.6B | $6.9B | ||
| Q1 24 | $1.7B | $7.7B |
股东权益CHRWTPR
| Q4 25 | $1.8B | $551.2M | ||
| Q3 25 | $1.9B | $399.5M | ||
| Q2 25 | $1.8B | $857.8M | ||
| Q1 25 | $1.7B | $1.5B | ||
| Q4 24 | $1.7B | $1.3B | ||
| Q3 24 | $1.6B | $3.0B | ||
| Q2 24 | $1.5B | $2.9B | ||
| Q1 24 | $1.4B | $2.8B |
总资产CHRWTPR
| Q4 25 | $5.1B | $6.5B | ||
| Q3 25 | $5.2B | $6.4B | ||
| Q2 25 | $5.3B | $6.6B | ||
| Q1 25 | $5.2B | $7.3B | ||
| Q4 24 | $5.3B | $7.3B | ||
| Q3 24 | $5.6B | $13.7B | ||
| Q2 24 | $5.5B | $13.4B | ||
| Q1 24 | $5.5B | $13.7B |
负债/权益比CHRWTPR
| Q4 25 | 0.59× | 4.32× | ||
| Q3 25 | 0.64× | 5.95× | ||
| Q2 25 | 0.76× | 2.77× | ||
| Q1 25 | 0.80× | 1.59× | ||
| Q4 24 | 0.80× | 1.78× | ||
| Q3 24 | 0.95× | 2.35× | ||
| Q2 24 | 1.07× | 2.39× | ||
| Q1 24 | 1.19× | 2.77× |
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 | $1.1B |
| 自由现金流经营现金流 - 资本支出 | $302.4M | $1.0B |
| 自由现金流率自由现金流/营收 | 7.7% | 41.5% |
| 资本支出强度资本支出/营收 | 0.1% | 1.7% |
| 现金转化率经营现金流/净利润 | 2.24× | 1.93× |
| 过去12个月自由现金流最近4个季度 | $894.9M | $1.6B |
8季度趋势，按日历期对齐
经营现金流CHRWTPR
| Q4 25 | $305.4M | $1.1B | ||
| Q3 25 | $275.4M | $112.6M | ||
| Q2 25 | $227.1M | $446.8M | ||
| Q1 25 | $106.5M | $144.3M | ||
| Q4 24 | $267.9M | $506.0M | ||
| Q3 24 | $108.1M | $119.5M | ||
| Q2 24 | $166.4M | $256.0M | ||
| Q1 24 | $-33.3M | $97.8M |
自由现金流CHRWTPR
| Q4 25 | $302.4M | $1.0B | ||
| Q3 25 | $269.5M | $80.2M | ||
| Q2 25 | $219.8M | $411.5M | ||
| Q1 25 | $103.2M | $113.4M | ||
| Q4 24 | $265.3M | $475.1M | ||
| Q3 24 | $103.3M | $93.9M | ||
| Q2 24 | $159.8M | $209.8M | ||
| Q1 24 | $-41.9M | $78.8M |
自由现金流率CHRWTPR
| Q4 25 | 7.7% | 41.5% | ||
| Q3 25 | 6.5% | 4.7% | ||
| Q2 25 | 5.3% | 23.9% | ||
| Q1 25 | 2.5% | 7.2% | ||
| Q4 24 | 6.3% | 21.6% | ||
| Q3 24 | 2.2% | 6.2% | ||
| Q2 24 | 3.6% | 13.2% | ||
| Q1 24 | -1.0% | 5.3% |
资本支出强度CHRWTPR
| Q4 25 | 0.1% | 1.7% | ||
| Q3 25 | 0.1% | 1.9% | ||
| Q2 25 | 0.2% | 2.0% | ||
| Q1 25 | 0.1% | 2.0% | ||
| Q4 24 | 0.1% | 1.4% | ||
| Q3 24 | 0.1% | 1.7% | ||
| Q2 24 | 0.1% | 2.9% | ||
| Q1 24 | 0.2% | 1.3% |
现金转化率CHRWTPR
| Q4 25 | 2.24× | 1.93× | ||
| Q3 25 | 1.69× | 0.41× | ||
| Q2 25 | 1.49× | — | ||
| Q1 25 | 0.79× | 0.71× | ||
| Q4 24 | 1.79× | 1.63× | ||
| Q3 24 | 1.11× | 0.64× | ||
| Q2 24 | 1.32× | 1.61× | ||
| Q1 24 | -0.36× | 0.70× |
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% |
TPR
| Coach | $1.4B | 57% |
| Other | $787.0M | 31% |
| Kate Spade Company | $290.0M | 12% |
