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加拿大国家铁路（CP）与阿特斯（CSIQ）财务数据对比。点击上方公司名可切换其他公司
阿特斯的季度营收约是加拿大国家铁路的1.6倍（$4.5B vs $2.8B），加拿大国家铁路净利率更高（27.7% vs 1.3%，领先26.4%）
加拿大国家铁路是加拿大一级货运铁路企业，总部位于魁北克省蒙特利尔市，业务覆盖加拿大全境及美国中西部、南部区域，是加拿大两大主力货运铁路运营商之一，与加拿大太平洋堪萨斯城铁路公司齐名。
阿特斯是全球领先的可再生能源企业，总部位于加拿大安大略省基奇纳。核心业务涵盖光伏组件制造、电池储能解决方案供应，以及大型公用事业级太阳能电站与储能项目的开发，业务布局覆盖全球主要能源市场。
CP vs CSIQ — 直观对比
营收规模更大
CSIQ
是对方的1.6倍
$2.8B
净利率更高
CP
高出26.4%
1.3%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $4.5B |
| 净利润 | $786.2M | $57.6M |
| 毛利率 | — | 17.5% |
| 营业利润率 | 41.4% | 2.2% |
| 净利率 | 27.7% | 1.3% |
| 营收同比 | 1.3% | — |
| 净利润同比 | -10.3% | — |
| 每股收益（稀释后） | — | — |
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CPCSIQ
| Q4 25 | $2.8B | — | ||
| Q3 25 | $2.7B | $4.5B | ||
| Q2 25 | $2.7B | $3.0B | ||
| Q1 25 | $2.8B | $1.3B | ||
| Q4 24 | $2.8B | — | ||
| Q3 24 | $2.6B | $5.9B | ||
| Q2 24 | $2.6B | $4.1B | ||
| Q1 24 | $2.5B | — |
净利润CPCSIQ
| Q4 25 | $786.2M | — | ||
| Q3 25 | $671.6M | $57.6M | ||
| Q2 25 | $900.8M | $63.6M | ||
| Q1 25 | $664.3M | $36.2M | ||
| Q4 24 | $876.7M | — | ||
| Q3 24 | $611.0M | $366.8M | ||
| Q2 24 | $660.6M | $304.4M | ||
| Q1 24 | $565.8M | — |
毛利率CPCSIQ
| Q4 25 | — | — | ||
| Q3 25 | — | 17.5% | ||
| Q2 25 | — | 18.0% | ||
| Q1 25 | — | 19.0% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 18.0% | ||
| Q2 24 | — | 18.7% | ||
| Q1 24 | — | — |
营业利润率CPCSIQ
| Q4 25 | 41.4% | — | ||
| Q3 25 | 36.8% | 2.2% | ||
| Q2 25 | 36.6% | 3.3% | ||
| Q1 25 | 35.0% | 3.7% | ||
| Q4 24 | 40.6% | — | ||
| Q3 24 | 34.3% | 7.7% | ||
| Q2 24 | 35.4% | 9.1% | ||
| Q1 24 | 32.9% | — |
净利率CPCSIQ
| Q4 25 | 27.7% | — | ||
| Q3 25 | 25.3% | 1.3% | ||
| Q2 25 | 33.6% | 2.1% | ||
| Q1 25 | 24.2% | 2.7% | ||
| Q4 24 | 31.2% | — | ||
| Q3 24 | 23.9% | 6.2% | ||
| Q2 24 | 25.3% | 7.5% | ||
| Q1 24 | 22.2% | — |
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 | $134.3M | $1.7B |
| 总债务越低越好 | $14.6B | — |
| 股东权益账面价值 | $33.5B | $3.9B |
| 总资产 | $62.7B | $13.5B |
| 负债/权益比越低杠杆越低 | 0.43× | — |
8季度趋势，按日历期对齐
现金及短期投资CPCSIQ
| Q4 25 | $134.3M | — | ||
| Q3 25 | $300.0M | $1.7B | ||
| Q2 25 | $583.3M | $1.7B | ||
| Q1 25 | $507.4M | $1.7B | ||
| Q4 24 | $539.5M | — | ||
| Q3 24 | $338.0M | $1.9B | ||
| Q2 24 | $406.6M | $1.9B | ||
| Q1 24 | $378.9M | — |
总债务CPCSIQ
| Q4 25 | $14.6B | — | ||
| Q3 25 | $15.8B | — | ||
| Q2 25 | $15.5B | — | ||
| Q1 25 | $15.4B | — | ||
| Q4 24 | $14.5B | — | ||
| Q3 24 | $13.7B | — | ||
| Q2 24 | $13.8B | — | ||
| Q1 24 | $13.7B | — |
股东权益CPCSIQ
| Q4 25 | $33.5B | — | ||
| Q3 25 | $33.4B | $3.9B | ||
| Q2 25 | $33.7B | $3.9B | ||
| Q1 25 | $35.2B | $3.9B | ||
| Q4 24 | $35.0B | — | ||
| Q3 24 | $32.2B | $3.7B | ||
| Q2 24 | $32.0B | $3.7B | ||
| Q1 24 | $31.3B | — |
总资产CPCSIQ
| Q4 25 | $62.7B | — | ||
| Q3 25 | $63.3B | $13.5B | ||
| Q2 25 | $62.2B | $13.5B | ||
| Q1 25 | $64.3B | $13.5B | ||
| Q4 24 | $64.1B | — | ||
| Q3 24 | $60.0B | $11.9B | ||
| Q2 24 | $60.4B | $11.9B | ||
| Q1 24 | $59.6B | — |
负债/权益比CPCSIQ
| Q4 25 | 0.43× | — | ||
| Q3 25 | 0.47× | — | ||
| Q2 25 | 0.46× | — | ||
| Q1 25 | 0.44× | — | ||
| Q4 24 | 0.41× | — | ||
| Q3 24 | 0.42× | — | ||
| Q2 24 | 0.43× | — | ||
| Q1 24 | 0.44× | — |
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 | $1.1B | $-187.7M |
| 自由现金流经营现金流 - 资本支出 | $537.3M | — |
| 自由现金流率自由现金流/营收 | 18.9% | — |
| 资本支出强度资本支出/营收 | 20.2% | — |
| 现金转化率经营现金流/净利润 | 1.42× | -3.26× |
| 过去12个月自由现金流最近4个季度 | $1.6B | — |
8季度趋势，按日历期对齐
经营现金流CPCSIQ
| Q4 25 | $1.1B | — | ||
| Q3 25 | $930.0M | $-187.7M | ||
| Q2 25 | $989.1M | — | ||
| Q1 25 | $843.9M | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $928.6M | — | ||
| Q2 24 | $932.9M | — | ||
| Q1 24 | $741.0M | — |
自由现金流CPCSIQ
| Q4 25 | $537.3M | — | ||
| Q3 25 | $302.2M | — | ||
| Q2 25 | $446.8M | — | ||
| Q1 25 | $324.9M | — | ||
| Q4 24 | $702.3M | — | ||
| Q3 24 | $382.5M | — | ||
| Q2 24 | $343.1M | — | ||
| Q1 24 | $356.2M | — |
自由现金流率CPCSIQ
| Q4 25 | 18.9% | — | ||
| Q3 25 | 11.4% | — | ||
| Q2 25 | 16.7% | — | ||
| Q1 25 | 11.8% | — | ||
| Q4 24 | 25.0% | — | ||
| Q3 24 | 15.0% | — | ||
| Q2 24 | 13.1% | — | ||
| Q1 24 | 14.0% | — |
资本支出强度CPCSIQ
| Q4 25 | 20.2% | — | ||
| Q3 25 | 23.7% | — | ||
| Q2 25 | 20.2% | — | ||
| Q1 25 | 18.9% | — | ||
| Q4 24 | 19.3% | — | ||
| Q3 24 | 21.4% | — | ||
| Q2 24 | 22.6% | — | ||
| Q1 24 | 15.1% | — |
现金转化率CPCSIQ
| Q4 25 | 1.42× | — | ||
| Q3 25 | 1.38× | -3.26× | ||
| Q2 25 | 1.10× | — | ||
| Q1 25 | 1.27× | — | ||
| Q4 24 | 1.42× | — | ||
| Q3 24 | 1.52× | — | ||
| Q2 24 | 1.41× | — | ||
| Q1 24 | 1.31× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
