vs
CNX Resources Corp（CNX）与利氏兄弟拍卖行（RBA）财务数据对比。点击上方公司名可切换其他公司
利氏兄弟拍卖行的季度营收约是CNX Resources Corp的2.0倍（$1.2B vs $610.5M），CNX Resources Corp净利率更高（32.1% vs 9.1%，领先23.0%），CNX Resources Corp同比增速更快（347.0% vs 5.4%），利氏兄弟拍卖行自由现金流更多（$186.5M vs $122.6M），过去两年CNX Resources Corp的营收复合增速更高（32.0% vs 6.3%）
CNX资源公司是总部位于美国匹兹堡的天然气企业，业务布局覆盖阿巴拉契亚盆地，核心产区位于宾夕法尼亚州、俄亥俄州、西弗吉尼亚州的马塞勒斯和尤蒂卡页岩区，同时在弗吉尼亚州开发煤层气资产、运营甲烷捕获减排项目，拥有完善的中游业务体系，是美国规模最大的天然气生产商之一。
利氏兄弟拍卖行（股票代码RBA）是全球知名的工业资产拍卖服务商，注册地位于加拿大，属公开上市企业，总部设在美国伊利诺伊州韦斯特切斯特，普通股同时在多伦多证券交易所与纽约证券交易所挂牌交易。
CNX vs RBA — 直观对比
营收规模更大
RBA
是对方的2.0倍
$610.5M
营收增速更快
CNX
高出341.6%
5.4%
净利率更高
CNX
高出23.0%
9.1%
自由现金流更多
RBA
多$63.9M
$122.6M
两年增速更快
CNX
近两年复合增速
6.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $610.5M | $1.2B |
| 净利润 | $196.3M | $109.7M |
| 毛利率 | — | — |
| 营业利润率 | — | 14.7% |
| 净利率 | 32.1% | 9.1% |
| 营收同比 | 347.0% | 5.4% |
| 净利润同比 | 235.7% | -7.4% |
| 每股收益（稀释后） | $1.58 | $0.53 |
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CNXRBA
| Q4 25 | $610.5M | $1.2B | ||
| Q3 25 | $583.8M | $1.1B | ||
| Q2 25 | $962.4M | $1.2B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | $424.2M | $981.8M | ||
| Q2 24 | $321.4M | $1.1B | ||
| Q1 24 | $384.6M | $1.1B |
净利润CNXRBA
| Q4 25 | $196.3M | $109.7M | ||
| Q3 25 | $202.1M | $95.5M | ||
| Q2 25 | $432.5M | $109.8M | ||
| Q1 25 | — | $113.4M | ||
| Q4 24 | — | $118.5M | ||
| Q3 24 | $65.5M | $76.1M | ||
| Q2 24 | $-18.3M | $111.1M | ||
| Q1 24 | $6.9M | $107.4M |
营业利润率CNXRBA
| Q4 25 | — | 14.7% | ||
| Q3 25 | — | 14.5% | ||
| Q2 25 | — | 15.9% | ||
| Q1 25 | — | 17.1% | ||
| Q4 24 | — | 18.1% | ||
| Q3 24 | — | 15.6% | ||
| Q2 24 | — | 18.4% | ||
| Q1 24 | — | 18.7% |
净利率CNXRBA
| Q4 25 | 32.1% | 9.1% | ||
| Q3 25 | 34.6% | 8.7% | ||
| Q2 25 | 44.9% | 9.3% | ||
| Q1 25 | — | 10.2% | ||
| Q4 24 | — | 10.4% | ||
| Q3 24 | 15.4% | 7.8% | ||
| Q2 24 | -5.7% | 10.1% | ||
| Q1 24 | 1.8% | 10.1% |
每股收益（稀释后）CNXRBA
| Q4 25 | $1.58 | $0.53 | ||
| Q3 25 | $1.21 | $0.43 | ||
| Q2 25 | $2.53 | $0.53 | ||
| Q1 25 | — | $0.55 | ||
| Q4 24 | — | $0.58 | ||
| Q3 24 | $0.37 | $0.36 | ||
| Q2 24 | $-0.12 | $0.54 | ||
| Q1 24 | $0.04 | $0.53 |
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 | $779.0K | $531.5M |
| 总债务越低越好 | $2.4B | $2.3B |
| 股东权益账面价值 | $4.3B | $5.6B |
| 总资产 | $9.1B | $12.1B |
| 负债/权益比越低杠杆越低 | 0.56× | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资CNXRBA
| Q4 25 | $779.0K | $531.5M | ||
| Q3 25 | $4.7M | $674.7M | ||
| Q2 25 | $3.4M | $710.2M | ||
| Q1 25 | — | $578.1M | ||
| Q4 24 | — | $533.9M | ||
| Q3 24 | $1.3M | $650.7M | ||
| Q2 24 | $3.9M | $599.5M | ||
| Q1 24 | $2.0M | $462.8M |
总债务CNXRBA
| Q4 25 | $2.4B | $2.3B | ||
| Q3 25 | $2.6B | $2.6B | ||
| Q2 25 | $2.6B | $2.6B | ||
| Q1 25 | — | $2.6B | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | $2.3B | $2.7B | ||
| Q2 24 | $2.3B | $2.8B | ||
| Q1 24 | $2.3B | $2.9B |
股东权益CNXRBA
| Q4 25 | $4.3B | $5.6B | ||
| Q3 25 | $4.1B | $5.5B | ||
| Q2 25 | $4.1B | $5.5B | ||
| Q1 25 | — | $5.3B | ||
| Q4 24 | — | $5.2B | ||
| Q3 24 | $4.3B | $5.2B | ||
| Q2 24 | $4.3B | $5.2B | ||
| Q1 24 | $4.3B | $5.1B |
总资产CNXRBA
| Q4 25 | $9.1B | $12.1B | ||
| Q3 25 | $8.9B | $12.2B | ||
| Q2 25 | $9.0B | $12.2B | ||
| Q1 25 | — | $11.9B | ||
| Q4 24 | — | $11.8B | ||
| Q3 24 | $8.5B | $11.9B | ||
| Q2 24 | $8.6B | $12.1B | ||
| Q1 24 | $8.7B | $12.0B |
负债/权益比CNXRBA
| Q4 25 | 0.56× | 0.42× | ||
| Q3 25 | 0.63× | 0.47× | ||
| Q2 25 | 0.64× | 0.47× | ||
| Q1 25 | — | 0.50× | ||
| Q4 24 | — | 0.50× | ||
| Q3 24 | 0.54× | 0.52× | ||
| Q2 24 | 0.54× | 0.55× | ||
| Q1 24 | 0.53× | 0.58× |
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 | $297.0M | $255.2M |
| 自由现金流经营现金流 - 资本支出 | $122.6M | $186.5M |
| 自由现金流率自由现金流/营收 | 20.1% | 15.5% |
| 资本支出强度资本支出/营收 | 28.6% | 5.7% |
| 现金转化率经营现金流/净利润 | 1.51× | 2.33× |
| 过去12个月自由现金流最近4个季度 | $505.2M | $719.2M |
8季度趋势，按日历期对齐
经营现金流CNXRBA
| Q4 25 | $297.0M | $255.2M | ||
| Q3 25 | $233.8M | $239.7M | ||
| Q2 25 | $282.5M | $326.5M | ||
| Q1 25 | — | $156.8M | ||
| Q4 24 | — | $184.5M | ||
| Q3 24 | $170.2M | $285.4M | ||
| Q2 24 | $191.8M | $337.3M | ||
| Q1 24 | $185.1M | $124.8M |
自由现金流CNXRBA
| Q4 25 | $122.6M | $186.5M | ||
| Q3 25 | $158.2M | $188.5M | ||
| Q2 25 | $168.9M | $241.7M | ||
| Q1 25 | — | $102.5M | ||
| Q4 24 | — | $127.9M | ||
| Q3 24 | $55.4M | $248.5M | ||
| Q2 24 | $39.8M | $308.6M | ||
| Q1 24 | $16.9M | $79.6M |
自由现金流率CNXRBA
| Q4 25 | 20.1% | 15.5% | ||
| Q3 25 | 27.1% | 17.3% | ||
| Q2 25 | 17.6% | 20.4% | ||
| Q1 25 | — | 9.2% | ||
| Q4 24 | — | 11.2% | ||
| Q3 24 | 13.1% | 25.3% | ||
| Q2 24 | 12.4% | 28.2% | ||
| Q1 24 | 4.4% | 7.5% |
资本支出强度CNXRBA
| Q4 25 | 28.6% | 5.7% | ||
| Q3 25 | 12.9% | 4.7% | ||
| Q2 25 | 11.8% | 7.2% | ||
| Q1 25 | — | 4.9% | ||
| Q4 24 | — | 5.0% | ||
| Q3 24 | 27.0% | 3.8% | ||
| Q2 24 | 47.3% | 2.6% | ||
| Q1 24 | 43.7% | 4.2% |
现金转化率CNXRBA
| Q4 25 | 1.51× | 2.33× | ||
| Q3 25 | 1.16× | 2.51× | ||
| Q2 25 | 0.65× | 2.97× | ||
| Q1 25 | — | 1.38× | ||
| Q4 24 | — | 1.56× | ||
| Q3 24 | 2.60× | 3.75× | ||
| Q2 24 | — | 3.04× | ||
| Q1 24 | 27.01× | 1.16× |
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
CNX
| Natural Gas Reserves | $436.6M | 72% |
| Other | $66.8M | 11% |
| NG Ls | $38.1M | 6% |
| Coalbed Methane | $35.2M | 6% |
| Shale | $17.5M | 3% |
| Oil And Gas Purchased | $14.4M | 2% |
| Oil And Condensate | $1.9M | 0% |
RBA
| Buyer Revenue | $577.2M | 48% |
| Seller Revenue | $255.2M | 21% |
| CA | $199.0M | 17% |
| Other | $124.7M | 10% |
| AU | $47.3M | 4% |
