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加拿大国家铁路（CP）与CARVANA CO.（CVNA）财务数据对比。点击上方公司名可切换其他公司
CARVANA CO.的季度营收约是加拿大国家铁路的2.0倍（$5.6B vs $2.8B），加拿大国家铁路净利率更高（27.7% vs 15.3%，领先12.4%），CARVANA CO.同比增速更快（58.0% vs 1.3%），加拿大国家铁路自由现金流更多（$537.3M vs $379.0M），过去两年CARVANA CO.的营收复合增速更高（35.3% vs 5.6%）
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。
Carvana Co.是总部位于美国亚利桑那州坦佩市的线上二手车零售企业，主打线上一站式购车服务，2021年成功入选《财富》500强榜单，是该榜单有史以来最年轻的上榜企业之一。
CP vs CVNA — 直观对比
营收规模更大
CVNA
是对方的2.0倍
$2.8B
营收增速更快
CVNA
高出56.7%
1.3%
净利率更高
CP
高出12.4%
15.3%
自由现金流更多
CP
多$158.3M
$379.0M
两年增速更快
CVNA
近两年复合增速
5.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $5.6B |
| 净利润 | $786.2M | $857.0M |
| 毛利率 | — | 18.8% |
| 营业利润率 | 41.4% | 7.6% |
| 净利率 | 27.7% | 15.3% |
| 营收同比 | 1.3% | 58.0% |
| 净利润同比 | -10.3% | 984.8% |
| 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CPCVNA
| Q4 25 | $2.8B | $5.6B | ||
| Q3 25 | $2.7B | $5.6B | ||
| Q2 25 | $2.7B | $4.8B | ||
| Q1 25 | $2.8B | $4.2B | ||
| Q4 24 | $2.8B | $3.5B | ||
| Q3 24 | $2.6B | $3.7B | ||
| Q2 24 | $2.6B | $3.4B | ||
| Q1 24 | $2.5B | $3.1B |
净利润CPCVNA
| Q4 25 | $786.2M | $857.0M | ||
| Q3 25 | $671.6M | $151.0M | ||
| Q2 25 | $900.8M | $183.0M | ||
| Q1 25 | $664.3M | $216.0M | ||
| Q4 24 | $876.7M | $79.0M | ||
| Q3 24 | $611.0M | $85.0M | ||
| Q2 24 | $660.6M | $18.0M | ||
| Q1 24 | $565.8M | $28.0M |
毛利率CPCVNA
| Q4 25 | — | 18.8% | ||
| Q3 25 | — | 20.3% | ||
| Q2 25 | — | 22.0% | ||
| Q1 25 | — | 22.0% | ||
| Q4 24 | — | 21.5% | ||
| Q3 24 | — | 22.1% | ||
| Q2 24 | — | 21.0% | ||
| Q1 24 | — | 19.3% |
营业利润率CPCVNA
| Q4 25 | 41.4% | 7.6% | ||
| Q3 25 | 36.8% | 9.8% | ||
| Q2 25 | 36.6% | 10.6% | ||
| Q1 25 | 35.0% | 9.3% | ||
| Q4 24 | 40.6% | 7.3% | ||
| Q3 24 | 34.3% | 9.2% | ||
| Q2 24 | 35.4% | 7.6% | ||
| Q1 24 | 32.9% | 4.4% |
净利率CPCVNA
| Q4 25 | 27.7% | 15.3% | ||
| Q3 25 | 25.3% | 2.7% | ||
| Q2 25 | 33.6% | 3.8% | ||
| Q1 25 | 24.2% | 5.1% | ||
| Q4 24 | 31.2% | 2.2% | ||
| Q3 24 | 23.9% | 2.3% | ||
| Q2 24 | 25.3% | 0.5% | ||
| Q1 24 | 22.2% | 0.9% |
每股收益（稀释后）CPCVNA
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $0.24 |
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 | $2.3B |
| 总债务越低越好 | $14.6B | $4.9B |
| 股东权益账面价值 | $33.5B | $3.4B |
| 总资产 | $62.7B | $13.2B |
| 负债/权益比越低杠杆越低 | 0.43× | 1.43× |
8季度趋势，按日历期对齐
现金及短期投资CPCVNA
| Q4 25 | $134.3M | $2.3B | ||
| Q3 25 | $300.0M | $2.1B | ||
| Q2 25 | $583.3M | $1.9B | ||
| Q1 25 | $507.4M | $1.9B | ||
| Q4 24 | $539.5M | $1.7B | ||
| Q3 24 | $338.0M | $871.0M | ||
| Q2 24 | $406.6M | $542.0M | ||
| Q1 24 | $378.9M | $252.0M |
总债务CPCVNA
| Q4 25 | $14.6B | $4.9B | ||
| Q3 25 | $15.8B | — | ||
| Q2 25 | $15.5B | — | ||
| Q1 25 | $15.4B | — | ||
| Q4 24 | $14.5B | $5.3B | ||
| Q3 24 | $13.7B | — | ||
| Q2 24 | $13.8B | — | ||
| Q1 24 | $13.7B | — |
股东权益CPCVNA
| Q4 25 | $33.5B | $3.4B | ||
| Q3 25 | $33.4B | $2.3B | ||
| Q2 25 | $33.7B | $1.7B | ||
| Q1 25 | $35.2B | $1.5B | ||
| Q4 24 | $35.0B | $1.3B | ||
| Q3 24 | $32.2B | $611.0M | ||
| Q2 24 | $32.0B | $526.0M | ||
| Q1 24 | $31.3B | $289.0M |
总资产CPCVNA
| Q4 25 | $62.7B | $13.2B | ||
| Q3 25 | $63.3B | $9.9B | ||
| Q2 25 | $62.2B | $9.4B | ||
| Q1 25 | $64.3B | $8.9B | ||
| Q4 24 | $64.1B | $8.5B | ||
| Q3 24 | $60.0B | $7.4B | ||
| Q2 24 | $60.4B | $7.2B | ||
| Q1 24 | $59.6B | $7.0B |
负债/权益比CPCVNA
| Q4 25 | 0.43× | 1.43× | ||
| Q3 25 | 0.47× | — | ||
| Q2 25 | 0.46× | — | ||
| Q1 25 | 0.44× | — | ||
| Q4 24 | 0.41× | 4.20× | ||
| 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 | $430.0M |
| 自由现金流经营现金流 - 资本支出 | $537.3M | $379.0M |
| 自由现金流率自由现金流/营收 | 18.9% | 6.8% |
| 资本支出强度资本支出/营收 | 20.2% | 0.9% |
| 现金转化率经营现金流/净利润 | 1.42× | 0.50× |
| 过去12个月自由现金流最近4个季度 | $1.6B | $889.0M |
8季度趋势，按日历期对齐
经营现金流CPCVNA
| Q4 25 | $1.1B | $430.0M | ||
| Q3 25 | $930.0M | $345.0M | ||
| Q2 25 | $989.1M | $29.0M | ||
| Q1 25 | $843.9M | $232.0M | ||
| Q4 24 | $1.2B | $60.0M | ||
| Q3 24 | $928.6M | $403.0M | ||
| Q2 24 | $932.9M | $354.0M | ||
| Q1 24 | $741.0M | $101.0M |
自由现金流CPCVNA
| Q4 25 | $537.3M | $379.0M | ||
| Q3 25 | $302.2M | $307.0M | ||
| Q2 25 | $446.8M | $-2.0M | ||
| Q1 25 | $324.9M | $205.0M | ||
| Q4 24 | $702.3M | $36.0M | ||
| Q3 24 | $382.5M | $376.0M | ||
| Q2 24 | $343.1M | $332.0M | ||
| Q1 24 | $356.2M | $83.0M |
自由现金流率CPCVNA
| Q4 25 | 18.9% | 6.8% | ||
| Q3 25 | 11.4% | 5.4% | ||
| Q2 25 | 16.7% | -0.0% | ||
| Q1 25 | 11.8% | 4.8% | ||
| Q4 24 | 25.0% | 1.0% | ||
| Q3 24 | 15.0% | 10.3% | ||
| Q2 24 | 13.1% | 9.7% | ||
| Q1 24 | 14.0% | 2.7% |
资本支出强度CPCVNA
| Q4 25 | 20.2% | 0.9% | ||
| Q3 25 | 23.7% | 0.7% | ||
| Q2 25 | 20.2% | 0.6% | ||
| Q1 25 | 18.9% | 0.6% | ||
| Q4 24 | 19.3% | 0.7% | ||
| Q3 24 | 21.4% | 0.7% | ||
| Q2 24 | 22.6% | 0.6% | ||
| Q1 24 | 15.1% | 0.6% |
现金转化率CPCVNA
| Q4 25 | 1.42× | 0.50× | ||
| Q3 25 | 1.38× | 2.28× | ||
| Q2 25 | 1.10× | 0.16× | ||
| Q1 25 | 1.27× | 1.07× | ||
| Q4 24 | 1.42× | 0.76× | ||
| Q3 24 | 1.52× | 4.74× | ||
| Q2 24 | 1.41× | 19.67× | ||
| Q1 24 | 1.31× | 3.61× |
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
CP
暂无分部数据
CVNA
| Used Vehicle Sales | $4.2B | 74% |
| Wholesale Sales And Revenues | $988.0M | 18% |
| Other | $459.0M | 8% |
