vs
C.H. Robinson（CHRW）与Vistra Corp.（VST）财务数据对比。点击上方公司名可切换其他公司
Vistra Corp.的季度营收约是C.H. Robinson的1.2倍（$4.8B vs $3.9B），Vistra Corp.净利率更高（4.8% vs 3.5%，领先1.4%），Vistra Corp.同比增速更快（31.2% vs -6.5%），Vistra Corp.自由现金流更多（$596.0M vs $302.4M），过去两年Vistra Corp.的营收复合增速更高（23.3% 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。
股票代码为VST的Vistra Corp是总部位于美国得克萨斯州的能源企业，主营电力生产、可再生能源开发及能源零售等业务。此外“Vistra”也可指一家总部位于中国香港的企业服务提供商，为全球客户提供公司注册、合规管理等专业服务。
CHRW vs VST — 直观对比
营收规模更大
VST
是对方的1.2倍
$3.9B
营收增速更快
VST
高出37.7%
-6.5%
净利率更高
VST
高出1.4%
3.5%
自由现金流更多
VST
多$293.6M
$302.4M
两年增速更快
VST
近两年复合增速
-5.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.9B | $4.8B |
| 净利润 | $136.3M | $233.0M |
| 毛利率 | — | — |
| 营业利润率 | 4.6% | 9.9% |
| 净利率 | 3.5% | 4.8% |
| 营收同比 | -6.5% | 31.2% |
| 净利润同比 | -8.7% | -47.2% |
| 每股收益（稀释后） | $1.12 | $0.55 |
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CHRWVST
| Q4 25 | $3.9B | $4.8B | ||
| Q3 25 | $4.1B | $4.8B | ||
| Q2 25 | $4.1B | $3.8B | ||
| Q1 25 | $4.0B | $4.3B | ||
| Q4 24 | $4.2B | $3.7B | ||
| Q3 24 | $4.6B | $4.3B | ||
| Q2 24 | $4.5B | $3.6B | ||
| Q1 24 | $4.4B | $3.2B |
净利润CHRWVST
| Q4 25 | $136.3M | $233.0M | ||
| Q3 25 | $163.0M | $652.0M | ||
| Q2 25 | $152.5M | $327.0M | ||
| Q1 25 | $135.3M | $-268.0M | ||
| Q4 24 | $149.3M | $441.0M | ||
| Q3 24 | $97.2M | $1.9B | ||
| Q2 24 | $126.3M | $365.0M | ||
| Q1 24 | $92.9M | $-35.0M |
营业利润率CHRWVST
| Q4 25 | 4.6% | 9.9% | ||
| Q3 25 | 5.3% | 21.7% | ||
| Q2 25 | 5.2% | 13.7% | ||
| Q1 25 | 4.4% | -2.8% | ||
| Q4 24 | 4.4% | 16.4% | ||
| Q3 24 | 3.9% | 59.6% | ||
| Q2 24 | 4.0% | 22.5% | ||
| Q1 24 | 2.9% | 2.7% |
净利率CHRWVST
| Q4 25 | 3.5% | 4.8% | ||
| Q3 25 | 3.9% | 13.6% | ||
| Q2 25 | 3.7% | 8.7% | ||
| Q1 25 | 3.3% | -6.3% | ||
| Q4 24 | 3.6% | 12.0% | ||
| Q3 24 | 2.1% | 43.5% | ||
| Q2 24 | 2.8% | 10.1% | ||
| Q1 24 | 2.1% | -1.1% |
每股收益（稀释后）CHRWVST
| Q4 25 | $1.12 | $0.55 | ||
| Q3 25 | $1.34 | $1.75 | ||
| Q2 25 | $1.26 | $0.81 | ||
| Q1 25 | $1.11 | $-0.93 | ||
| Q4 24 | $1.23 | $1.09 | ||
| Q3 24 | $0.80 | $5.25 | ||
| Q2 24 | $1.05 | $0.90 | ||
| Q1 24 | $0.78 | $-0.24 |
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 | $785.0M |
| 总债务越低越好 | $1.1B | $15.8B |
| 股东权益账面价值 | $1.8B | $5.1B |
| 总资产 | $5.1B | $41.5B |
| 负债/权益比越低杠杆越低 | 0.59× | 3.11× |
8季度趋势，按日历期对齐
现金及短期投资CHRWVST
| Q4 25 | $160.9M | $785.0M | ||
| Q3 25 | $136.8M | $602.0M | ||
| Q2 25 | $156.0M | $458.0M | ||
| Q1 25 | $129.9M | $561.0M | ||
| Q4 24 | $145.8M | $1.2B | ||
| Q3 24 | $131.7M | $905.0M | ||
| Q2 24 | $113.2M | $1.6B | ||
| Q1 24 | $121.8M | $1.1B |
总债务CHRWVST
| Q4 25 | $1.1B | $15.8B | ||
| Q3 25 | $1.2B | $15.8B | ||
| Q2 25 | $1.4B | $15.5B | ||
| Q1 25 | $1.4B | $15.4B | ||
| Q4 24 | $1.4B | $15.4B | ||
| Q3 24 | $1.6B | $13.9B | ||
| Q2 24 | $1.6B | $13.9B | ||
| Q1 24 | $1.7B | $14.7B |
股东权益CHRWVST
| Q4 25 | $1.8B | $5.1B | ||
| Q3 25 | $1.9B | $5.2B | ||
| Q2 25 | $1.8B | $4.8B | ||
| Q1 25 | $1.7B | $4.8B | ||
| Q4 24 | $1.7B | $5.6B | ||
| Q3 24 | $1.6B | $5.4B | ||
| Q2 24 | $1.5B | $5.6B | ||
| Q1 24 | $1.4B | $5.7B |
总资产CHRWVST
| Q4 25 | $5.1B | $41.5B | ||
| Q3 25 | $5.2B | $38.0B | ||
| Q2 25 | $5.3B | $38.1B | ||
| Q1 25 | $5.2B | $38.2B | ||
| Q4 24 | $5.3B | $37.8B | ||
| Q3 24 | $5.6B | $37.9B | ||
| Q2 24 | $5.5B | $39.1B | ||
| Q1 24 | $5.5B | $38.2B |
负债/权益比CHRWVST
| Q4 25 | 0.59× | 3.11× | ||
| Q3 25 | 0.64× | 3.02× | ||
| Q2 25 | 0.76× | 3.22× | ||
| Q1 25 | 0.80× | 3.20× | ||
| Q4 24 | 0.80× | 2.77× | ||
| Q3 24 | 0.95× | 2.56× | ||
| Q2 24 | 1.07× | 2.49× | ||
| Q1 24 | 1.19× | 2.60× |
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 | $1.4B |
| 自由现金流经营现金流 - 资本支出 | $302.4M | $596.0M |
| 自由现金流率自由现金流/营收 | 7.7% | 12.4% |
| 资本支出强度资本支出/营收 | 0.1% | 17.4% |
| 现金转化率经营现金流/净利润 | 2.24× | 6.15× |
| 过去12个月自由现金流最近4个季度 | $894.9M | $1.3B |
8季度趋势，按日历期对齐
经营现金流CHRWVST
| Q4 25 | $305.4M | $1.4B | ||
| Q3 25 | $275.4M | $1.5B | ||
| Q2 25 | $227.1M | $572.0M | ||
| Q1 25 | $106.5M | $599.0M | ||
| Q4 24 | $267.9M | $1.4B | ||
| Q3 24 | $108.1M | $1.7B | ||
| Q2 24 | $166.4M | $1.2B | ||
| Q1 24 | $-33.3M | $312.0M |
自由现金流CHRWVST
| Q4 25 | $302.4M | $596.0M | ||
| Q3 25 | $269.5M | $1.0B | ||
| Q2 25 | $219.8M | $-118.0M | ||
| Q1 25 | $103.2M | $-169.0M | ||
| Q4 24 | $265.3M | $923.0M | ||
| Q3 24 | $103.3M | $1.0B | ||
| Q2 24 | $159.8M | $698.0M | ||
| Q1 24 | $-41.9M | $-153.0M |
自由现金流率CHRWVST
| Q4 25 | 7.7% | 12.4% | ||
| Q3 25 | 6.5% | 21.1% | ||
| Q2 25 | 5.3% | -3.1% | ||
| Q1 25 | 2.5% | -4.0% | ||
| Q4 24 | 6.3% | 25.2% | ||
| Q3 24 | 2.2% | 23.4% | ||
| Q2 24 | 3.6% | 19.4% | ||
| Q1 24 | -1.0% | -4.8% |
资本支出强度CHRWVST
| Q4 25 | 0.1% | 17.4% | ||
| Q3 25 | 0.1% | 9.6% | ||
| Q2 25 | 0.2% | 18.4% | ||
| Q1 25 | 0.1% | 18.1% | ||
| Q4 24 | 0.1% | 11.7% | ||
| Q3 24 | 0.1% | 15.8% | ||
| Q2 24 | 0.1% | 13.8% | ||
| Q1 24 | 0.2% | 14.7% |
现金转化率CHRWVST
| Q4 25 | 2.24× | 6.15× | ||
| Q3 25 | 1.69× | 2.25× | ||
| Q2 25 | 1.49× | 1.75× | ||
| Q1 25 | 0.79× | — | ||
| Q4 24 | 1.79× | 3.07× | ||
| Q3 24 | 1.11× | 0.90× | ||
| Q2 24 | 1.32× | 3.28× | ||
| Q1 24 | -0.36× | — |
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% |
VST
| Retail Energy Charge In ERCOT | $2.1B | 43% |
| Retail Energy Charge In Northeast Midwest | $1.2B | 24% |
| East Segment | $1.1B | 24% |
| Hedging Revenue Realized | $170.0M | 4% |
| Revenue From Other Wholesale Contracts | $116.0M | 2% |
| Transferable Production Tax Credit Revenues | $78.0M | 2% |
| West Segment | $77.0M | 2% |
| Intersegment Sales | $25.0M | 1% |
