vs
Coinbase（COIN）与Schneider National, Inc.（SNDR）财务数据对比。点击上方公司名可切换其他公司
Coinbase的季度营收约是Schneider National, Inc.的1.3倍（$1.8B vs $1.4B），Schneider National, Inc.净利率更高（1.6% vs -37.4%，领先39.0%），Schneider National, Inc.同比增速更快（4.5% vs -21.6%），过去两年Coinbase的营收复合增速更高（4.3% vs 3.0%）
Coinbase是美国知名加密货币交易所，2012年由布莱恩·阿姆斯特朗与弗雷德·埃尔萨姆联合创立。截至2024年，平台拥有超1亿用户，业务覆盖100多个国家，是美国最大加密货币交易所、全球最大比特币托管机构，托管总资产近5160亿美元，持有约12%的流通比特币及11%的质押以太币。
美国施耐德国家公司是知名交通运输企业，提供整车运输、多式联运及综合物流服务，业务涵盖区域配送、长途运输、加急运输、专属运力、散货运输、货运代理、越库物流、共同配送点分拨、供应链管理、港口物流等领域，可为客户提供定制化供应链解决方案。
COIN vs SNDR — 直观对比
营收规模更大
COIN
是对方的1.3倍
$1.4B
营收增速更快
SNDR
高出26.1%
-21.6%
净利率更高
SNDR
高出39.0%
-37.4%
两年增速更快
COIN
近两年复合增速
3.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $1.4B |
| 净利润 | $-666.7M | $22.1M |
| 毛利率 | — | — |
| 营业利润率 | 15.4% | 2.6% |
| 净利率 | -37.4% | 1.6% |
| 营收同比 | -21.6% | 4.5% |
| 净利润同比 | -151.6% | -32.2% |
| 每股收益（稀释后） | $-2.43 | $0.13 |
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COINSNDR
| Q4 25 | $1.8B | $1.4B | ||
| Q3 25 | $1.9B | $1.5B | ||
| Q2 25 | $1.5B | $1.4B | ||
| Q1 25 | $2.0B | $1.4B | ||
| Q4 24 | $2.3B | $1.3B | ||
| Q3 24 | $1.2B | $1.3B | ||
| Q2 24 | $1.4B | $1.3B | ||
| Q1 24 | $1.6B | $1.3B |
净利润COINSNDR
| Q4 25 | $-666.7M | $22.1M | ||
| Q3 25 | $432.6M | $19.4M | ||
| Q2 25 | $1.4B | $36.0M | ||
| Q1 25 | $65.6M | $26.1M | ||
| Q4 24 | $1.3B | $32.6M | ||
| Q3 24 | $75.5M | $30.6M | ||
| Q2 24 | $36.1M | $35.3M | ||
| Q1 24 | $1.2B | $18.5M |
营业利润率COINSNDR
| Q4 25 | 15.4% | 2.6% | ||
| Q3 25 | 25.7% | 2.4% | ||
| Q2 25 | -1.6% | 3.9% | ||
| Q1 25 | 34.7% | 3.0% | ||
| Q4 24 | 45.5% | 3.2% | ||
| Q3 24 | 14.1% | 3.3% | ||
| Q2 24 | 23.7% | 3.9% | ||
| Q1 24 | 46.4% | 2.2% |
净利率COINSNDR
| Q4 25 | -37.4% | 1.6% | ||
| Q3 25 | 23.1% | 1.3% | ||
| Q2 25 | 95.4% | 2.5% | ||
| Q1 25 | 3.2% | 1.9% | ||
| Q4 24 | 56.8% | 2.4% | ||
| Q3 24 | 6.3% | 2.3% | ||
| Q2 24 | 2.5% | 2.7% | ||
| Q1 24 | 71.8% | 1.4% |
每股收益（稀释后）COINSNDR
| Q4 25 | $-2.43 | $0.13 | ||
| Q3 25 | $1.50 | $0.11 | ||
| Q2 25 | $5.14 | $0.20 | ||
| Q1 25 | $0.24 | $0.15 | ||
| Q4 24 | $4.66 | $0.19 | ||
| Q3 24 | $0.28 | $0.17 | ||
| Q2 24 | $0.14 | $0.20 | ||
| Q1 24 | $4.40 | $0.10 |
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 | $11.6B | $41.8M |
| 总债务越低越好 | $7.2B | $390.9M |
| 股东权益账面价值 | $14.8B | $3.0B |
| 总资产 | $29.7B | $4.8B |
| 负债/权益比越低杠杆越低 | 0.49× | 0.13× |
8季度趋势，按日历期对齐
现金及短期投资COINSNDR
| Q4 25 | $11.6B | $41.8M | ||
| Q3 25 | $9.8B | $235.7M | ||
| Q2 25 | $7.5B | $205.1M | ||
| Q1 25 | $8.1B | $154.3M | ||
| Q4 24 | $8.5B | $165.5M | ||
| Q3 24 | $7.7B | $231.6M | ||
| Q2 24 | $7.2B | $157.2M | ||
| Q1 24 | $6.7B | $124.2M |
总债务COINSNDR
| Q4 25 | $7.2B | $390.9M | ||
| Q3 25 | $7.2B | $509.8M | ||
| Q2 25 | $4.2B | $512.7M | ||
| Q1 25 | $4.2B | $565.8M | ||
| Q4 24 | $4.2B | $420.8M | ||
| Q3 24 | $4.2B | $124.7M | ||
| Q2 24 | $4.2B | $125.8M | ||
| Q1 24 | $4.2B | $96.6M |
股东权益COINSNDR
| Q4 25 | $14.8B | $3.0B | ||
| Q3 25 | $16.0B | $3.0B | ||
| Q2 25 | $12.1B | $3.0B | ||
| Q1 25 | $10.5B | $3.0B | ||
| Q4 24 | $10.3B | $3.0B | ||
| Q3 24 | $8.7B | $3.0B | ||
| Q2 24 | $8.4B | $3.0B | ||
| Q1 24 | $8.1B | $2.9B |
总资产COINSNDR
| Q4 25 | $29.7B | $4.8B | ||
| Q3 25 | $31.4B | $5.0B | ||
| Q2 25 | $23.5B | $5.0B | ||
| Q1 25 | $21.7B | $5.0B | ||
| Q4 24 | $22.5B | $4.9B | ||
| Q3 24 | $290.6B | $4.6B | ||
| Q2 24 | $287.0B | $4.5B | ||
| Q1 24 | $348.0B | $4.6B |
负债/权益比COINSNDR
| Q4 25 | 0.49× | 0.13× | ||
| Q3 25 | 0.45× | 0.17× | ||
| Q2 25 | 0.35× | 0.17× | ||
| Q1 25 | 0.40× | 0.19× | ||
| Q4 24 | 0.41× | 0.14× | ||
| Q3 24 | 0.48× | 0.04× | ||
| Q2 24 | 0.51× | 0.04× | ||
| Q1 24 | 0.52× | 0.03× |
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 | $3.1B | $186.0M |
| 自由现金流经营现金流 - 资本支出 | — | $145.5M |
| 自由现金流率自由现金流/营收 | — | 10.4% |
| 资本支出强度资本支出/营收 | — | 2.9% |
| 现金转化率经营现金流/净利润 | — | 8.42× |
| 过去12个月自由现金流最近4个季度 | — | $285.4M |
8季度趋势，按日历期对齐
经营现金流COINSNDR
| Q4 25 | $3.1B | $186.0M | ||
| Q3 25 | $-784.5M | $184.2M | ||
| Q2 25 | $328.5M | $175.5M | ||
| Q1 25 | $-182.7M | $91.7M | ||
| Q4 24 | $964.6M | $199.5M | ||
| Q3 24 | $696.5M | $206.4M | ||
| Q2 24 | $484.2M | $182.6M | ||
| Q1 24 | $411.5M | $97.6M |
自由现金流COINSNDR
| Q4 25 | — | $145.5M | ||
| Q3 25 | — | $56.2M | ||
| Q2 25 | — | $106.4M | ||
| Q1 25 | — | $-22.7M | ||
| Q4 24 | — | $113.6M | ||
| Q3 24 | — | $98.7M | ||
| Q2 24 | — | $85.5M | ||
| Q1 24 | — | $-25.7M |
自由现金流率COINSNDR
| Q4 25 | — | 10.4% | ||
| Q3 25 | — | 3.9% | ||
| Q2 25 | — | 7.5% | ||
| Q1 25 | — | -1.6% | ||
| Q4 24 | — | 8.5% | ||
| Q3 24 | — | 7.5% | ||
| Q2 24 | — | 6.5% | ||
| Q1 24 | — | -1.9% |
资本支出强度COINSNDR
| Q4 25 | — | 2.9% | ||
| Q3 25 | — | 8.8% | ||
| Q2 25 | — | 4.9% | ||
| Q1 25 | — | 8.2% | ||
| Q4 24 | — | 6.4% | ||
| Q3 24 | — | 8.2% | ||
| Q2 24 | — | 7.4% | ||
| Q1 24 | — | 9.3% |
现金转化率COINSNDR
| Q4 25 | — | 8.42× | ||
| Q3 25 | -1.81× | 9.49× | ||
| Q2 25 | 0.23× | 4.88× | ||
| Q1 25 | -2.79× | 3.51× | ||
| Q4 24 | 0.75× | 6.12× | ||
| Q3 24 | 9.23× | 6.75× | ||
| Q2 24 | 13.39× | 5.17× | ||
| Q1 24 | 0.35× | 5.28× |
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
COIN
| Bank Servicing Consumer Net | $733.9M | 41% |
| Subscription And Circulation | $727.4M | 41% |
| Bank Servicing Institutional | $185.0M | 10% |
| Other Revenue | $71.1M | 4% |
| Bank Servicing Other | $63.8M | 4% |
| Related Party | $1.3M | 0% |
SNDR
| Transportation | $1.3B | 93% |
| Logistics Management | $52.3M | 4% |
| Other | $46.2M | 3% |
