vs
CMS Energy（CMS）与RYDER SYSTEM INC（R）财务数据对比。点击上方公司名可切换其他公司
RYDER SYSTEM INC的季度营收约是CMS Energy的1.5倍（$3.1B vs $2.1B），CMS Energy净利率更高（13.5% vs 3.0%，领先10.6%），CMS Energy同比增速更快（13.0% vs 1.0%），过去两年CMS Energy的营收复合增速更高（-0.2% vs -0.9%）
CMS Energy是总部位于美国密歇根州杰克逊市的能源企业，业务核心聚焦密歇根州公用事业运营。旗下核心主体Consumers Energy成立于1886年，为全州超600万居民提供电力及天然气服务，非公用事业板块则主要开展美国本土独立发电业务。
Ryder System Inc.是美国专业运输物流服务商，总部位于佛罗里达州科勒尔盖布尔斯，业务覆盖美国及英国，核心业务包含卡车租赁、车队管理、供应链及运输管理，同时提供车辆维保、二手车销售、专业司机派遣、电商履约与最后一公里配送等多元服务。
CMS vs R — 直观对比
营收规模更大
R
是对方的1.5倍
$2.1B
营收增速更快
CMS
高出12.0%
1.0%
净利率更高
CMS
高出10.6%
3.0%
两年增速更快
CMS
近两年复合增速
-0.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $3.1B |
| 净利润 | $289.0M | $93.0M |
| 毛利率 | — | — |
| 营业利润率 | 20.4% | — |
| 净利率 | 13.5% | 3.0% |
| 营收同比 | 13.0% | 1.0% |
| 净利润同比 | 9.1% | -5.1% |
| 每股收益（稀释后） | $0.94 | $2.34 |
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CMSR
| Q1 26 | — | $3.1B | ||
| Q4 25 | $2.1B | $3.2B | ||
| Q3 25 | $2.0B | $3.2B | ||
| Q2 25 | $1.8B | $3.2B | ||
| Q1 25 | $2.4B | $3.1B | ||
| Q4 24 | $1.9B | $3.2B | ||
| Q3 24 | $1.7B | $3.2B | ||
| Q2 24 | $1.6B | $3.2B |
净利润CMSR
| Q1 26 | — | $93.0M | ||
| Q4 25 | $289.0M | $132.0M | ||
| Q3 25 | $277.0M | $138.0M | ||
| Q2 25 | $201.0M | $131.0M | ||
| Q1 25 | $304.0M | $98.0M | ||
| Q4 24 | $265.0M | $135.0M | ||
| Q3 24 | $253.0M | $142.0M | ||
| Q2 24 | $198.0M | $127.0M |
营业利润率CMSR
| Q1 26 | — | — | ||
| Q4 25 | 20.4% | 5.6% | ||
| Q3 25 | 24.4% | 6.0% | ||
| Q2 25 | 17.6% | 5.8% | ||
| Q1 25 | 20.6% | 4.3% | ||
| Q4 24 | 22.5% | 5.7% | ||
| Q3 24 | 21.4% | 5.9% | ||
| Q2 24 | 18.0% | 5.6% |
净利率CMSR
| Q1 26 | — | 3.0% | ||
| Q4 25 | 13.5% | 4.2% | ||
| Q3 25 | 14.0% | 4.4% | ||
| Q2 25 | 11.2% | 4.1% | ||
| Q1 25 | 12.7% | 3.1% | ||
| Q4 24 | 14.0% | 4.2% | ||
| Q3 24 | 14.8% | 4.5% | ||
| Q2 24 | 12.6% | 4.0% |
每股收益（稀释后）CMSR
| Q1 26 | — | $2.34 | ||
| Q4 25 | $0.94 | $3.22 | ||
| Q3 25 | $0.92 | $3.32 | ||
| Q2 25 | $0.66 | $3.13 | ||
| Q1 25 | $1.01 | $2.27 | ||
| Q4 24 | $0.88 | $3.09 | ||
| Q3 24 | $0.84 | $3.24 | ||
| Q2 24 | $0.65 | $2.84 |
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 | $509.0M | $182.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $9.1B | $2.9B |
| 总资产 | $39.9B | — |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资CMSR
| Q1 26 | — | $182.0M | ||
| Q4 25 | $509.0M | $198.0M | ||
| Q3 25 | $362.0M | $189.0M | ||
| Q2 25 | $844.0M | $180.0M | ||
| Q1 25 | $465.0M | $151.0M | ||
| Q4 24 | $103.0M | $154.0M | ||
| Q3 24 | $412.0M | $162.0M | ||
| Q2 24 | $699.0M | $164.0M |
总债务CMSR
| Q1 26 | — | — | ||
| Q4 25 | — | $6.8B | ||
| Q3 25 | — | $7.3B | ||
| Q2 25 | — | $7.0B | ||
| Q1 25 | — | $6.7B | ||
| Q4 24 | — | $6.7B | ||
| Q3 24 | — | $6.6B | ||
| Q2 24 | — | $6.5B |
股东权益CMSR
| Q1 26 | — | $2.9B | ||
| Q4 25 | $9.1B | $3.1B | ||
| Q3 25 | $8.9B | $3.1B | ||
| Q2 25 | $8.4B | $3.1B | ||
| Q1 25 | $8.3B | $3.0B | ||
| Q4 24 | $8.2B | $3.1B | ||
| Q3 24 | $8.1B | $3.1B | ||
| Q2 24 | $8.0B | $3.1B |
总资产CMSR
| Q1 26 | — | — | ||
| Q4 25 | $39.9B | $16.4B | ||
| Q3 25 | $38.0B | $16.5B | ||
| Q2 25 | $37.7B | $16.5B | ||
| Q1 25 | $36.3B | $16.4B | ||
| Q4 24 | $35.9B | $16.7B | ||
| Q3 24 | $34.8B | $16.5B | ||
| Q2 24 | $34.4B | $16.4B |
负债/权益比CMSR
| Q1 26 | — | — | ||
| Q4 25 | — | 2.24× | ||
| Q3 25 | — | 2.35× | ||
| Q2 25 | — | 2.27× | ||
| Q1 25 | — | 2.21× | ||
| Q4 24 | — | 2.14× | ||
| Q3 24 | — | 2.17× | ||
| Q2 24 | — | 2.09× |
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 | $478.0M | $583.0M |
| 自由现金流经营现金流 - 资本支出 | — | $273.0M |
| 自由现金流率自由现金流/营收 | — | 8.7% |
| 资本支出强度资本支出/营收 | — | 13.7% |
| 现金转化率经营现金流/净利润 | 1.65× | 6.27× |
| 过去12个月自由现金流最近4个季度 | — | $595.0M |
8季度趋势，按日历期对齐
经营现金流CMSR
| Q1 26 | — | $583.0M | ||
| Q4 25 | $478.0M | $749.0M | ||
| Q3 25 | $343.0M | $442.0M | ||
| Q2 25 | $414.0M | $752.0M | ||
| Q1 25 | $1.0B | $651.0M | ||
| Q4 24 | $403.0M | $558.0M | ||
| Q3 24 | $304.0M | $629.0M | ||
| Q2 24 | $707.0M | $552.0M |
自由现金流CMSR
| Q1 26 | — | $273.0M | ||
| Q4 25 | — | $344.0M | ||
| Q3 25 | $-635.0M | $-85.0M | ||
| Q2 25 | $-470.0M | $63.0M | ||
| Q1 25 | $112.0M | $137.0M | ||
| Q4 24 | — | $-201.0M | ||
| Q3 24 | $-502.0M | $30.0M | ||
| Q2 24 | $26.0M | $-87.0M |
自由现金流率CMSR
| Q1 26 | — | 8.7% | ||
| Q4 25 | — | 10.8% | ||
| Q3 25 | -32.2% | -2.7% | ||
| Q2 25 | -26.1% | 2.0% | ||
| Q1 25 | 4.7% | 4.4% | ||
| Q4 24 | — | -6.3% | ||
| Q3 24 | -29.3% | 0.9% | ||
| Q2 24 | 1.6% | -2.7% |
资本支出强度CMSR
| Q1 26 | — | 13.7% | ||
| Q4 25 | — | 12.8% | ||
| Q3 25 | 49.5% | 16.6% | ||
| Q2 25 | 49.2% | 21.6% | ||
| Q1 25 | 37.0% | 16.4% | ||
| Q4 24 | — | 23.8% | ||
| Q3 24 | 47.1% | 18.9% | ||
| Q2 24 | 43.2% | 20.1% |
现金转化率CMSR
| Q1 26 | — | 6.27× | ||
| Q4 25 | 1.65× | 5.67× | ||
| Q3 25 | 1.24× | 3.20× | ||
| Q2 25 | 2.06× | 5.74× | ||
| Q1 25 | 3.29× | 6.64× | ||
| Q4 24 | 1.52× | 4.13× | ||
| Q3 24 | 1.20× | 4.43× | ||
| Q2 24 | 3.57× | 4.35× |
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
CMS
| Electric Utility | $1.3B | 59% |
| Gas Utility | $803.0M | 38% |
| North Star Clean Energy | $77.0M | 4% |
R
| Fleet Management Solutions | $1.5B | 47% |
| ChoiceLease | $878.0M | 28% |
| Dedicated Transportation Solutions | $553.0M | 18% |
| Commercial rental | $211.0M | 7% |
