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加拿大国家铁路（CP）与佳明（GRMN）财务数据对比。点击上方公司名可切换其他公司
加拿大国家铁路的季度营收约是佳明的1.6倍（$2.8B vs $1.8B），加拿大国家铁路净利率更高（27.7% vs 23.1%，领先4.6%），佳明同比增速更快（14.0% vs 1.3%），加拿大国家铁路自由现金流更多（$537.3M vs $469.4M），过去两年佳明的营收复合增速更高（7.9% 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。
佳明（Garmin）是总部位于美国堪萨斯州奥拉西的跨国科技企业，专注于设计、研发、生产及销售GPS功能产品，以及导航、通讯、传感类信息产品，业务覆盖汽车、航空、航海、户外、运动健身等多个领域。
CP vs GRMN — 直观对比
营收规模更大
CP
是对方的1.6倍
$1.8B
营收增速更快
GRMN
高出12.7%
1.3%
净利率更高
CP
高出4.6%
23.1%
自由现金流更多
CP
多$67.9M
$469.4M
两年增速更快
GRMN
近两年复合增速
5.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $1.8B |
| 净利润 | $786.2M | $405.1M |
| 毛利率 | — | 59.4% |
| 营业利润率 | 41.4% | 24.6% |
| 净利率 | 27.7% | 23.1% |
| 营收同比 | 1.3% | 14.0% |
| 净利润同比 | -10.3% | 21.7% |
| 每股收益（稀释后） | — | $2.09 |
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CPGRMN
| Q1 26 | — | $1.8B | ||
| Q4 25 | $2.8B | $2.1B | ||
| Q3 25 | $2.7B | $1.8B | ||
| Q2 25 | $2.7B | $1.8B | ||
| Q1 25 | $2.8B | $1.5B | ||
| Q4 24 | $2.8B | $1.8B | ||
| Q3 24 | $2.6B | $1.6B | ||
| Q2 24 | $2.6B | $1.5B |
净利润CPGRMN
| Q1 26 | — | $405.1M | ||
| Q4 25 | $786.2M | $528.7M | ||
| Q3 25 | $671.6M | $401.6M | ||
| Q2 25 | $900.8M | $400.8M | ||
| Q1 25 | $664.3M | $332.8M | ||
| Q4 24 | $876.7M | $435.7M | ||
| Q3 24 | $611.0M | $399.1M | ||
| Q2 24 | $660.6M | $300.6M |
毛利率CPGRMN
| Q1 26 | — | 59.4% | ||
| Q4 25 | — | 59.2% | ||
| Q3 25 | — | 59.1% | ||
| Q2 25 | — | 58.8% | ||
| Q1 25 | — | 57.6% | ||
| Q4 24 | — | 59.3% | ||
| Q3 24 | — | 60.0% | ||
| Q2 24 | — | 57.3% |
营业利润率CPGRMN
| Q1 26 | — | 24.6% | ||
| Q4 25 | 41.4% | 28.9% | ||
| Q3 25 | 36.8% | 25.8% | ||
| Q2 25 | 36.6% | 26.0% | ||
| Q1 25 | 35.0% | 21.7% | ||
| Q4 24 | 40.6% | 28.3% | ||
| Q3 24 | 34.3% | 27.6% | ||
| Q2 24 | 35.4% | 22.7% |
净利率CPGRMN
| Q1 26 | — | 23.1% | ||
| Q4 25 | 27.7% | 24.9% | ||
| Q3 25 | 25.3% | 22.7% | ||
| Q2 25 | 33.6% | 22.1% | ||
| Q1 25 | 24.2% | 21.7% | ||
| Q4 24 | 31.2% | 23.9% | ||
| Q3 24 | 23.9% | 25.2% | ||
| Q2 24 | 25.3% | 20.0% |
每股收益（稀释后）CPGRMN
| Q1 26 | — | $2.09 | ||
| Q4 25 | — | $2.72 | ||
| Q3 25 | — | $2.08 | ||
| Q2 25 | — | $2.07 | ||
| Q1 25 | — | $1.72 | ||
| Q4 24 | — | $2.24 | ||
| Q3 24 | — | $2.07 | ||
| Q2 24 | — | $1.56 |
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 | — |
| 股东权益账面价值 | $33.5B | — |
| 总资产 | $62.7B | $11.0B |
| 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CPGRMN
| Q1 26 | — | $2.3B | ||
| Q4 25 | $134.3M | $2.3B | ||
| Q3 25 | $300.0M | $2.1B | ||
| Q2 25 | $583.3M | $2.1B | ||
| Q1 25 | $507.4M | $2.2B | ||
| Q4 24 | $539.5M | $2.1B | ||
| Q3 24 | $338.0M | $2.0B | ||
| Q2 24 | $406.6M | $1.9B |
总债务CPGRMN
| Q1 26 | — | — | ||
| 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 | — |
股东权益CPGRMN
| Q1 26 | — | — | ||
| Q4 25 | $33.5B | $9.0B | ||
| Q3 25 | $33.4B | $8.5B | ||
| Q2 25 | $33.7B | $8.1B | ||
| Q1 25 | $35.2B | $8.2B | ||
| Q4 24 | $35.0B | $7.8B | ||
| Q3 24 | $32.2B | $7.5B | ||
| Q2 24 | $32.0B | $7.0B |
总资产CPGRMN
| Q1 26 | — | $11.0B | ||
| Q4 25 | $62.7B | $11.0B | ||
| Q3 25 | $63.3B | $10.5B | ||
| Q2 25 | $62.2B | $10.3B | ||
| Q1 25 | $64.3B | $9.8B | ||
| Q4 24 | $64.1B | $9.6B | ||
| Q3 24 | $60.0B | $9.3B | ||
| Q2 24 | $60.4B | $8.9B |
负债/权益比CPGRMN
| Q1 26 | — | — | ||
| 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× | — |
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 | $536.0M |
| 自由现金流经营现金流 - 资本支出 | $537.3M | $469.4M |
| 自由现金流率自由现金流/营收 | 18.9% | 26.8% |
| 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× | 1.32× |
| 过去12个月自由现金流最近4个季度 | $1.6B | $1.5B |
8季度趋势，按日历期对齐
经营现金流CPGRMN
| Q1 26 | — | $536.0M | ||
| Q4 25 | $1.1B | $553.8M | ||
| Q3 25 | $930.0M | $485.6M | ||
| Q2 25 | $989.1M | $173.2M | ||
| Q1 25 | $843.9M | $420.8M | ||
| Q4 24 | $1.2B | $483.9M | ||
| Q3 24 | $928.6M | $258.0M | ||
| Q2 24 | $932.9M | $255.3M |
自由现金流CPGRMN
| Q1 26 | — | $469.4M | ||
| Q4 25 | $537.3M | $429.6M | ||
| Q3 25 | $302.2M | $425.1M | ||
| Q2 25 | $446.8M | $127.5M | ||
| Q1 25 | $324.9M | $380.7M | ||
| Q4 24 | $702.3M | $399.2M | ||
| Q3 24 | $382.5M | $219.4M | ||
| Q2 24 | $343.1M | $218.2M |
自由现金流率CPGRMN
| Q1 26 | — | 26.8% | ||
| Q4 25 | 18.9% | 20.2% | ||
| Q3 25 | 11.4% | 24.0% | ||
| Q2 25 | 16.7% | 7.0% | ||
| Q1 25 | 11.8% | 24.8% | ||
| Q4 24 | 25.0% | 21.9% | ||
| Q3 24 | 15.0% | 13.8% | ||
| Q2 24 | 13.1% | 14.5% |
资本支出强度CPGRMN
| Q1 26 | — | — | ||
| Q4 25 | 20.2% | 5.8% | ||
| Q3 25 | 23.7% | 3.4% | ||
| Q2 25 | 20.2% | 2.5% | ||
| Q1 25 | 18.9% | 2.6% | ||
| Q4 24 | 19.3% | 4.6% | ||
| Q3 24 | 21.4% | 2.4% | ||
| Q2 24 | 22.6% | 2.5% |
现金转化率CPGRMN
| Q1 26 | — | 1.32× | ||
| Q4 25 | 1.42× | 1.05× | ||
| Q3 25 | 1.38× | 1.21× | ||
| Q2 25 | 1.10× | 0.43× | ||
| Q1 25 | 1.27× | 1.26× | ||
| Q4 24 | 1.42× | 1.11× | ||
| Q3 24 | 1.52× | 0.65× | ||
| Q2 24 | 1.41× | 0.85× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
