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加拿大国家铁路（CP）与皇家加勒比集团（RCL）财务数据对比。点击上方公司名可切换其他公司
皇家加勒比集团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 21.3%，领先6.3%），皇家加勒比集团同比增速更快（11.3% vs 1.3%），过去两年加拿大国家铁路的营收复合增速更高（5.6% vs 4.1%）
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。
皇家加勒比集团前身为皇家加勒比邮轮有限公司，是仅次于嘉年华公司的全球第二大邮轮运营商。集团总部位于美国佛罗里达州迈阿密，在利比里亚注册，目前全资拥有皇家加勒比国际游轮、名人邮轮、银海邮轮三大品牌，还持有途易邮轮50%的股份。
CP vs RCL — 直观对比
营收规模更大
RCL
是对方的1.6倍
$2.8B
营收增速更快
RCL
高出10.0%
1.3%
净利率更高
CP
高出6.3%
21.3%
两年增速更快
CP
近两年复合增速
4.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $4.5B |
| 净利润 | $786.2M | $950.0M |
| 毛利率 | — | — |
| 营业利润率 | 41.4% | 26.1% |
| 净利率 | 27.7% | 21.3% |
| 营收同比 | 1.3% | 11.3% |
| 净利润同比 | -10.3% | 29.1% |
| 每股收益（稀释后） | — | $3.48 |
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CPRCL
| Q1 26 | — | $4.5B | ||
| Q4 25 | $2.8B | $4.3B | ||
| Q3 25 | $2.7B | $5.1B | ||
| Q2 25 | $2.7B | $4.5B | ||
| Q1 25 | $2.8B | $4.0B | ||
| Q4 24 | $2.8B | $3.8B | ||
| Q3 24 | $2.6B | $4.9B | ||
| Q2 24 | $2.6B | $4.1B |
净利润CPRCL
| Q1 26 | — | $950.0M | ||
| Q4 25 | $786.2M | $753.0M | ||
| Q3 25 | $671.6M | $1.6B | ||
| Q2 25 | $900.8M | $1.2B | ||
| Q1 25 | $664.3M | $730.0M | ||
| Q4 24 | $876.7M | $552.0M | ||
| Q3 24 | $611.0M | $1.1B | ||
| Q2 24 | $660.6M | $854.0M |
毛利率CPRCL
| Q1 26 | — | — | ||
| Q4 25 | — | 47.4% | ||
| Q3 25 | — | 51.8% | ||
| Q2 25 | — | 49.7% | ||
| Q1 25 | — | 48.0% | ||
| Q4 24 | — | 45.4% | ||
| Q3 24 | — | 51.1% | ||
| Q2 24 | — | 47.6% |
营业利润率CPRCL
| Q1 26 | — | 26.1% | ||
| Q4 25 | 41.4% | 21.9% | ||
| Q3 25 | 36.8% | 33.1% | ||
| Q2 25 | 36.6% | 29.3% | ||
| Q1 25 | 35.0% | 23.6% | ||
| Q4 24 | 40.6% | 16.6% | ||
| Q3 24 | 34.3% | 33.4% | ||
| Q2 24 | 35.4% | 26.7% |
净利率CPRCL
| Q1 26 | — | 21.3% | ||
| Q4 25 | 27.7% | 17.7% | ||
| Q3 25 | 25.3% | 30.6% | ||
| Q2 25 | 33.6% | 26.7% | ||
| Q1 25 | 24.2% | 18.3% | ||
| Q4 24 | 31.2% | 14.7% | ||
| Q3 24 | 23.9% | 22.7% | ||
| Q2 24 | 25.3% | 20.8% |
每股收益（稀释后）CPRCL
| Q1 26 | — | $3.48 | ||
| Q4 25 | — | $2.76 | ||
| Q3 25 | — | $5.74 | ||
| Q2 25 | — | $4.41 | ||
| Q1 25 | — | $2.70 | ||
| Q4 24 | — | $2.27 | ||
| Q3 24 | — | $4.21 | ||
| Q2 24 | — | $3.11 |
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 | $512.0M |
| 总债务越低越好 | $14.6B | $21.1B |
| 股东权益账面价值 | $33.5B | $10.0B |
| 总资产 | $62.7B | $42.0B |
| 负债/权益比越低杠杆越低 | 0.43× | 2.11× |
8季度趋势，按日历期对齐
现金及短期投资CPRCL
| Q1 26 | — | $512.0M | ||
| Q4 25 | $134.3M | $825.0M | ||
| Q3 25 | $300.0M | $432.0M | ||
| Q2 25 | $583.3M | $735.0M | ||
| Q1 25 | $507.4M | $386.0M | ||
| Q4 24 | $539.5M | $388.0M | ||
| Q3 24 | $338.0M | $418.0M | ||
| Q2 24 | $406.6M | $391.0M |
总债务CPRCL
| Q1 26 | — | $21.1B | ||
| Q4 25 | $14.6B | $18.2B | ||
| Q3 25 | $15.8B | $17.2B | ||
| Q2 25 | $15.5B | $17.6B | ||
| Q1 25 | $15.4B | $18.0B | ||
| Q4 24 | $14.5B | $18.5B | ||
| Q3 24 | $13.7B | $19.0B | ||
| Q2 24 | $13.8B | $19.8B |
股东权益CPRCL
| Q1 26 | — | $10.0B | ||
| Q4 25 | $33.5B | $10.0B | ||
| Q3 25 | $33.4B | $10.1B | ||
| Q2 25 | $33.7B | $9.2B | ||
| Q1 25 | $35.2B | $8.0B | ||
| Q4 24 | $35.0B | $7.6B | ||
| Q3 24 | $32.2B | $7.0B | ||
| Q2 24 | $32.0B | $6.0B |
总资产CPRCL
| Q1 26 | — | $42.0B | ||
| Q4 25 | $62.7B | $41.6B | ||
| Q3 25 | $63.3B | $40.1B | ||
| Q2 25 | $62.2B | $38.5B | ||
| Q1 25 | $64.3B | $37.5B | ||
| Q4 24 | $64.1B | $37.1B | ||
| Q3 24 | $60.0B | $37.1B | ||
| Q2 24 | $60.4B | $37.0B |
负债/权益比CPRCL
| Q1 26 | — | 2.11× | ||
| Q4 25 | 0.43× | 1.81× | ||
| Q3 25 | 0.47× | 1.70× | ||
| Q2 25 | 0.46× | 1.92× | ||
| Q1 25 | 0.44× | 2.26× | ||
| Q4 24 | 0.41× | 2.44× | ||
| Q3 24 | 0.42× | 2.69× | ||
| Q2 24 | 0.43× | 3.29× |
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 | $1.8B |
| 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× | 1.93× |
| 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CPRCL
| Q1 26 | — | $1.8B | ||
| Q4 25 | $1.1B | $1.6B | ||
| Q3 25 | $930.0M | $1.5B | ||
| Q2 25 | $989.1M | $1.7B | ||
| Q1 25 | $843.9M | $1.6B | ||
| Q4 24 | $1.2B | $1.5B | ||
| Q3 24 | $928.6M | $897.0M | ||
| Q2 24 | $932.9M | $1.6B |
自由现金流CPRCL
| Q1 26 | — | — | ||
| Q4 25 | $537.3M | $116.0M | ||
| Q3 25 | $302.2M | $-989.0M | ||
| Q2 25 | $446.8M | $910.0M | ||
| Q1 25 | $324.9M | $1.2B | ||
| Q4 24 | $702.3M | $915.0M | ||
| Q3 24 | $382.5M | $563.0M | ||
| Q2 24 | $343.1M | $-567.0M |
自由现金流率CPRCL
| Q1 26 | — | — | ||
| Q4 25 | 18.9% | 2.7% | ||
| Q3 25 | 11.4% | -19.2% | ||
| Q2 25 | 16.7% | 20.1% | ||
| Q1 25 | 11.8% | 30.0% | ||
| Q4 24 | 25.0% | 24.3% | ||
| Q3 24 | 15.0% | 11.5% | ||
| Q2 24 | 13.1% | -13.8% |
资本支出强度CPRCL
| Q1 26 | — | — | ||
| Q4 25 | 20.2% | 35.4% | ||
| Q3 25 | 23.7% | 47.8% | ||
| Q2 25 | 20.2% | 18.4% | ||
| Q1 25 | 18.9% | 10.7% | ||
| Q4 24 | 19.3% | 14.7% | ||
| Q3 24 | 21.4% | 6.8% | ||
| Q2 24 | 22.6% | 52.1% |
现金转化率CPRCL
| Q1 26 | — | 1.93× | ||
| Q4 25 | 1.42× | 2.16× | ||
| Q3 25 | 1.38× | 0.93× | ||
| Q2 25 | 1.10× | 1.44× | ||
| Q1 25 | 1.27× | 2.23× | ||
| Q4 24 | 1.42× | 2.66× | ||
| Q3 24 | 1.52× | 0.81× | ||
| Q2 24 | 1.41× | 1.84× |
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
RCL
| Passenger ticket revenues | $3.0B | 68% |
| Onboard and other revenues | $1.4B | 32% |
