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AMERICOLD REALTY TRUST（COLD）与VORNADO REALTY TRUST（VNO）财务数据对比。点击上方公司名可切换其他公司
AMERICOLD REALTY TRUST的季度营收约是VORNADO REALTY TRUST的1.4倍（$643.1M vs $453.7M），VORNADO REALTY TRUST净利率更高（1.1% vs -13.7%，领先14.8%），AMERICOLD REALTY TRUST同比增速更快（-0.7% vs -0.9%），过去两年VORNADO REALTY TRUST的营收复合增速更高（2.0% vs -0.6%）
Americold Realty Trust是总部位于美国佐治亚州亚特兰大的温控仓储及运输企业，主营现代化商用温控仓储业务，通过冷链体系存储易腐货物，是食品保鲜供应链的重要参与方，为全球第二大温控仓储及配送服务提供商。
Vornado Realty Trust是1982年于美国马里兰州注册成立的房地产投资信托，总部设立在纽约市，核心业务为投资曼哈顿核心区域的优质写字楼及临街零售商业地产，是纽约当地颇具影响力的商业地产投资运营机构。
COLD vs VNO — 直观对比
营收规模更大
COLD
是对方的1.4倍
$453.7M
营收增速更快
COLD
高出0.2%
-0.9%
净利率更高
VNO
高出14.8%
-13.7%
两年增速更快
VNO
近两年复合增速
-0.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $643.1M | $453.7M |
| 净利润 | $-88.3M | $4.9M |
| 毛利率 | 31.3% | — |
| 营业利润率 | -10.8% | 2.8% |
| 净利率 | -13.7% | 1.1% |
| 营收同比 | -0.7% | -0.9% |
| 净利润同比 | -143.9% | -14.7% |
| 每股收益（稀释后） | $-0.31 | $0.01 |
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COLDVNO
| Q4 25 | $643.1M | $453.7M | ||
| Q3 25 | $649.0M | $453.7M | ||
| Q2 25 | $635.1M | $441.4M | ||
| Q1 25 | $613.7M | $461.6M | ||
| Q4 24 | $647.4M | $457.8M | ||
| Q3 24 | $660.4M | $443.3M | ||
| Q2 24 | $645.6M | $450.3M | ||
| Q1 24 | $651.4M | $436.4M |
净利润COLDVNO
| Q4 25 | $-88.3M | $4.9M | ||
| Q3 25 | $-11.4M | $27.1M | ||
| Q2 25 | $1.5M | $759.3M | ||
| Q1 25 | $-16.4M | $102.4M | ||
| Q4 24 | $-36.2M | $5.8M | ||
| Q3 24 | $-3.7M | $-3.6M | ||
| Q2 24 | $-64.1M | $50.8M | ||
| Q1 24 | $9.7M | $6.5M |
毛利率COLDVNO
| Q4 25 | 31.3% | — | ||
| Q3 25 | 29.3% | — | ||
| Q2 25 | 30.9% | — | ||
| Q1 25 | 31.1% | — | ||
| Q4 24 | 29.7% | — | ||
| Q3 24 | 29.6% | — | ||
| Q2 24 | 31.0% | — | ||
| Q1 24 | 30.3% | — |
营业利润率COLDVNO
| Q4 25 | -10.8% | 2.8% | ||
| Q3 25 | 2.6% | 3.0% | ||
| Q2 25 | 5.9% | — | ||
| Q1 25 | 3.6% | 23.2% | ||
| Q4 24 | -1.8% | 2.5% | ||
| Q3 24 | 4.6% | -3.3% | ||
| Q2 24 | 9.8% | 10.1% | ||
| Q1 24 | 6.4% | 0.1% |
净利率COLDVNO
| Q4 25 | -13.7% | 1.1% | ||
| Q3 25 | -1.8% | 6.0% | ||
| Q2 25 | 0.2% | 172.0% | ||
| Q1 25 | -2.7% | 22.2% | ||
| Q4 24 | -5.6% | 1.3% | ||
| Q3 24 | -0.6% | -0.8% | ||
| Q2 24 | -9.9% | 11.3% | ||
| Q1 24 | 1.5% | 1.5% |
每股收益（稀释后）COLDVNO
| Q4 25 | $-0.31 | $0.01 | ||
| Q3 25 | $-0.04 | $0.06 | ||
| Q2 25 | $0.01 | $3.70 | ||
| Q1 25 | $-0.06 | $0.43 | ||
| Q4 24 | $-0.12 | $0.01 | ||
| Q3 24 | $-0.01 | $-0.10 | ||
| Q2 24 | $-0.23 | $0.18 | ||
| Q1 24 | $0.03 | $-0.05 |
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 | $136.9M | $840.9M |
| 总债务越低越好 | — | $2.3B |
| 股东权益账面价值 | $2.9B | $6.0B |
| 总资产 | $8.1B | $15.5B |
| 负债/权益比越低杠杆越低 | — | 0.38× |
8季度趋势，按日历期对齐
现金及短期投资COLDVNO
| Q4 25 | $136.9M | $840.9M | ||
| Q3 25 | $33.3M | $1.0B | ||
| Q2 25 | $101.4M | $1.2B | ||
| Q1 25 | $38.9M | $568.9M | ||
| Q4 24 | $47.7M | $733.9M | ||
| Q3 24 | $61.3M | $783.6M | ||
| Q2 24 | $44.2M | $872.6M | ||
| Q1 24 | $59.2M | $892.7M |
总债务COLDVNO
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | $2.3B | ||
| Q2 25 | — | $2.1B | ||
| Q1 25 | — | $2.1B | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | — | $2.6B | ||
| Q2 24 | — | $2.6B | ||
| Q1 24 | — | $2.6B |
股东权益COLDVNO
| Q4 25 | $2.9B | $6.0B | ||
| Q3 25 | $3.0B | $6.1B | ||
| Q2 25 | $3.1B | $6.1B | ||
| Q1 25 | $3.2B | $5.3B | ||
| Q4 24 | $3.3B | $5.2B | ||
| Q3 24 | $3.4B | $5.3B | ||
| Q2 24 | $3.4B | $5.6B | ||
| Q1 24 | $3.6B | $5.5B |
总资产COLDVNO
| Q4 25 | $8.1B | $15.5B | ||
| Q3 25 | $8.1B | $15.7B | ||
| Q2 25 | $8.1B | $15.6B | ||
| Q1 25 | $7.8B | $15.6B | ||
| Q4 24 | $7.7B | $16.0B | ||
| Q3 24 | $7.9B | $16.1B | ||
| Q2 24 | $7.8B | $16.2B | ||
| Q1 24 | $7.8B | $16.2B |
负债/权益比COLDVNO
| Q4 25 | — | 0.38× | ||
| Q3 25 | — | 0.37× | ||
| Q2 25 | — | 0.35× | ||
| Q1 25 | — | 0.40× | ||
| Q4 24 | — | 0.50× | ||
| Q3 24 | — | 0.49× | ||
| Q2 24 | — | 0.46× | ||
| Q1 24 | — | 0.46× |
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 | $130.2M | $1.3B |
| 自由现金流经营现金流 - 资本支出 | $-12.2M | — |
| 自由现金流率自由现金流/营收 | -1.9% | — |
| 资本支出强度资本支出/营收 | 22.1% | — |
| 现金转化率经营现金流/净利润 | — | 256.08× |
| 过去12个月自由现金流最近4个季度 | $-217.2M | — |
8季度趋势，按日历期对齐
经营现金流COLDVNO
| Q4 25 | $130.2M | $1.3B | ||
| Q3 25 | $78.9M | $33.2M | ||
| Q2 25 | $120.3M | $1.0B | ||
| Q1 25 | $30.2M | $52.0M | ||
| Q4 24 | $162.6M | $537.7M | ||
| Q3 24 | $50.6M | $105.4M | ||
| Q2 24 | $136.7M | $194.7M | ||
| Q1 24 | $62.0M | $31.5M |
自由现金流COLDVNO
| Q4 25 | $-12.2M | — | ||
| Q3 25 | $-65.4M | — | ||
| Q2 25 | $-57.4M | — | ||
| Q1 25 | $-82.3M | — | ||
| Q4 24 | $57.4M | — | ||
| Q3 24 | $-44.5M | — | ||
| Q2 24 | $73.3M | — | ||
| Q1 24 | $16.2M | — |
自由现金流率COLDVNO
| Q4 25 | -1.9% | — | ||
| Q3 25 | -10.1% | — | ||
| Q2 25 | -9.0% | — | ||
| Q1 25 | -13.4% | — | ||
| Q4 24 | 8.9% | — | ||
| Q3 24 | -6.7% | — | ||
| Q2 24 | 11.4% | — | ||
| Q1 24 | 2.5% | — |
资本支出强度COLDVNO
| Q4 25 | 22.1% | — | ||
| Q3 25 | 22.2% | — | ||
| Q2 25 | 28.0% | — | ||
| Q1 25 | 18.3% | — | ||
| Q4 24 | 16.3% | — | ||
| Q3 24 | 14.4% | — | ||
| Q2 24 | 9.8% | — | ||
| Q1 24 | 7.0% | — |
现金转化率COLDVNO
| Q4 25 | — | 256.08× | ||
| Q3 25 | — | 1.22× | ||
| Q2 25 | 78.18× | 1.35× | ||
| Q1 25 | — | 0.51× | ||
| Q4 24 | — | 93.39× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 3.83× | ||
| Q1 24 | 6.36× | 4.85× |
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
COLD
| Warehouse Services | $269.0M | 42% |
| Warehouse Rent And Storage | $199.9M | 31% |
| Other Facilities Costs | $60.0M | 9% |
| Transportation Segment | $48.3M | 8% |
| Power | $34.7M | 5% |
| Transportation | $22.0M | 3% |
| Third Party Managed Segment | $9.5M | 1% |
| Third Party Managed | $2.4M | 0% |
VNO
| New York Segment | $374.8M | 83% |
| Building Maintenance Service | $41.2M | 9% |
| Other | $27.7M | 6% |
| Tenant Services | $11.1M | 2% |
| Management And Leasing Fees | $2.6M | 1% |
