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Calumet, Inc.（CLMT）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
RUSH ENTERPRISES INC \TX\的季度营收约是Calumet, Inc.的1.6倍（$1.7B vs $1.0B），RUSH ENTERPRISES INC \TX\净利率更高（3.7% vs -3.6%，领先7.3%），RUSH ENTERPRISES INC \TX\自由现金流更多（$411.6M vs $103.8M）
Calumet是总部位于美国的特种产品企业，专注于生产和分销高价值碳氢化合物与特种化学品，产品覆盖特种油、润滑剂、蜡制品及可再生燃料解决方案，服务北美及全球的工业、消费、交通等下游领域。
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。
CLMT vs RUSHA — 直观对比
营收规模更大
RUSHA
是对方的1.6倍
$1.0B
净利率更高
RUSHA
高出7.3%
-3.6%
自由现金流更多
RUSHA
多$307.8M
$103.8M
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $1.7B |
| 净利润 | $-37.3M | $61.7M |
| 毛利率 | -0.3% | 20.4% |
| 营业利润率 | -6.2% | 4.9% |
| 净利率 | -3.6% | 3.7% |
| 营收同比 | — | -9.0% |
| 净利润同比 | — | 1.8% |
| 每股收益（稀释后） | $-0.43 | $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CLMTRUSHA
| Q1 26 | — | $1.7B | ||
| Q4 25 | $1.0B | $1.7B | ||
| Q3 25 | $1.1B | $1.8B | ||
| Q2 25 | $1.0B | $1.8B | ||
| Q1 25 | $993.9M | $1.8B | ||
| Q4 24 | — | $1.9B | ||
| Q3 24 | $1.1B | $1.8B | ||
| Q2 24 | $1.1B | $1.9B |
净利润CLMTRUSHA
| Q1 26 | — | $61.7M | ||
| Q4 25 | $-37.3M | $64.3M | ||
| Q3 25 | $313.4M | $66.7M | ||
| Q2 25 | $-147.9M | $72.4M | ||
| Q1 25 | $-162.0M | $60.3M | ||
| Q4 24 | — | $74.8M | ||
| Q3 24 | $-100.6M | $79.1M | ||
| Q2 24 | $-39.1M | $78.7M |
毛利率CLMTRUSHA
| Q1 26 | — | 20.4% | ||
| Q4 25 | -0.3% | 20.8% | ||
| Q3 25 | 34.7% | 21.0% | ||
| Q2 25 | -4.2% | 20.7% | ||
| Q1 25 | -8.2% | 20.3% | ||
| Q4 24 | — | 19.3% | ||
| Q3 24 | 0.4% | 21.0% | ||
| Q2 24 | 5.6% | 20.2% |
营业利润率CLMTRUSHA
| Q1 26 | — | 4.9% | ||
| Q4 25 | -6.2% | 5.5% | ||
| Q3 25 | 30.0% | 5.6% | ||
| Q2 25 | -9.8% | 6.0% | ||
| Q1 25 | -4.9% | 5.2% | ||
| Q4 24 | — | 5.8% | ||
| Q3 24 | -5.2% | 6.7% | ||
| Q2 24 | 0.5% | 6.4% |
净利率CLMTRUSHA
| Q1 26 | — | 3.7% | ||
| Q4 25 | -3.6% | 3.8% | ||
| Q3 25 | 29.1% | 3.7% | ||
| Q2 25 | -14.4% | 3.9% | ||
| Q1 25 | -16.3% | 3.4% | ||
| Q4 24 | — | 3.9% | ||
| Q3 24 | -9.1% | 4.4% | ||
| Q2 24 | -3.4% | 4.1% |
每股收益（稀释后）CLMTRUSHA
| Q1 26 | — | $0.77 | ||
| Q4 25 | $-0.43 | $0.81 | ||
| Q3 25 | $3.61 | $0.83 | ||
| Q2 25 | $-1.70 | $0.90 | ||
| Q1 25 | $-1.87 | $0.73 | ||
| Q4 24 | — | $-95.13 | ||
| Q3 24 | $-1.18 | $0.97 | ||
| Q2 24 | $-0.48 | $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 | $125.1M | — |
| 总债务越低越好 | $2.1B | $277.8M |
| 股东权益账面价值 | $-732.7M | $2.3B |
| 总资产 | $2.7B | $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CLMTRUSHA
| Q1 26 | — | — | ||
| Q4 25 | $125.1M | $212.6M | ||
| Q3 25 | $94.6M | $242.0M | ||
| Q2 25 | $110.6M | $211.1M | ||
| Q1 25 | $123.4M | $228.7M | ||
| Q4 24 | — | $228.1M | ||
| Q3 24 | $34.6M | $185.1M | ||
| Q2 24 | $7.0M | $167.3M |
总债务CLMTRUSHA
| Q1 26 | — | $277.8M | ||
| Q4 25 | $2.1B | $274.8M | ||
| Q3 25 | $2.1B | — | ||
| Q2 25 | $2.1B | — | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | — | $408.4M | ||
| Q3 24 | $1.7B | — | ||
| Q2 24 | — | — |
股东权益CLMTRUSHA
| Q1 26 | — | $2.3B | ||
| Q4 25 | $-732.7M | $2.2B | ||
| Q3 25 | $-695.3M | $2.2B | ||
| Q2 25 | $-1.0B | $2.2B | ||
| Q1 25 | $-862.3M | $2.2B | ||
| Q4 24 | — | $2.1B | ||
| Q3 24 | $-672.2M | $2.1B | ||
| Q2 24 | $-566.4M | $2.0B |
总资产CLMTRUSHA
| Q1 26 | — | $4.5B | ||
| Q4 25 | $2.7B | $4.4B | ||
| Q3 25 | $2.7B | $4.6B | ||
| Q2 25 | $2.8B | $4.7B | ||
| Q1 25 | $2.8B | $4.7B | ||
| Q4 24 | — | $4.6B | ||
| Q3 24 | $2.6B | $4.6B | ||
| Q2 24 | $100 | $4.5B |
负债/权益比CLMTRUSHA
| 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 | $116.5M | — |
| 自由现金流经营现金流 - 资本支出 | $103.8M | $411.6M |
| 自由现金流率自由现金流/营收 | 10.0% | 24.4% |
| 资本支出强度资本支出/营收 | 1.2% | 2.0% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $56.6M | $828.4M |
8季度趋势，按日历期对齐
经营现金流CLMTRUSHA
| Q1 26 | — | — | ||
| Q4 25 | $116.5M | $112.9M | ||
| Q3 25 | $23.5M | $367.8M | ||
| Q2 25 | $-1.8M | $227.6M | ||
| Q1 25 | $-29.3M | $153.5M | ||
| Q4 24 | — | $392.3M | ||
| Q3 24 | $-15.5M | $111.7M | ||
| Q2 24 | — | $270.6M |
自由现金流CLMTRUSHA
| Q1 26 | — | $411.6M | ||
| Q4 25 | $103.8M | $31.9M | ||
| Q3 25 | $15.1M | $271.2M | ||
| Q2 25 | $-15.4M | $113.8M | ||
| Q1 25 | $-46.9M | $45.1M | ||
| Q4 24 | — | $263.5M | ||
| Q3 24 | $-32.2M | $-20.0M | ||
| Q2 24 | — | $177.2M |
自由现金流率CLMTRUSHA
| Q1 26 | — | 24.4% | ||
| Q4 25 | 10.0% | 1.9% | ||
| Q3 25 | 1.4% | 15.2% | ||
| Q2 25 | -1.5% | 6.2% | ||
| Q1 25 | -4.7% | 2.6% | ||
| Q4 24 | — | 13.7% | ||
| Q3 24 | -2.9% | -1.1% | ||
| Q2 24 | — | 9.1% |
资本支出强度CLMTRUSHA
| Q1 26 | — | 2.0% | ||
| Q4 25 | 1.2% | 4.8% | ||
| Q3 25 | 0.8% | 5.4% | ||
| Q2 25 | 1.3% | 6.2% | ||
| Q1 25 | 1.8% | 6.2% | ||
| Q4 24 | — | 6.7% | ||
| Q3 24 | 1.5% | 7.3% | ||
| Q2 24 | 2.2% | 4.8% |
现金转化率CLMTRUSHA
| Q1 26 | — | — | ||
| Q4 25 | — | 1.75× | ||
| Q3 25 | 0.07× | 5.51× | ||
| Q2 25 | — | 3.14× | ||
| Q1 25 | — | 2.55× | ||
| Q4 24 | — | 5.25× | ||
| Q3 24 | — | 1.41× | ||
| Q2 24 | — | 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
CLMT
| Specialty Products And Solutions | $675.9M | 65% |
| Montana Renewables | $294.2M | 28% |
| Performance Brands | $68.5M | 7% |
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% |
