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加拿大国家铁路（CP）与Constellation Brands（STZ）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Constellation Brands的1.3倍（$2.8B vs $2.2B），加拿大国家铁路净利率更高（27.7% vs 22.6%，领先5.0%），加拿大国家铁路同比增速更快（1.3% vs -9.8%），加拿大国家铁路自由现金流更多（$537.3M vs $370.9M），过去两年加拿大国家铁路的营收复合增速更高（5.6% vs 1.9%）
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。
Constellation Brands, Inc.是总部位于美国纽约州罗切斯特的《财富》500强企业，主营啤酒、葡萄酒及烈酒的生产与营销，按销售额计算是美国最大的啤酒进口商，在全美主要啤酒供应商中市场份额位列第三。公司还通过与Canopy Growth合作在医用及娱乐大麻领域有大额投资，现有约40处设施、近9000名员工。
CP vs STZ — 直观对比
营收规模更大
CP
是对方的1.3倍
$2.2B
营收增速更快
CP
高出11.1%
-9.8%
净利率更高
CP
高出5.0%
22.6%
自由现金流更多
CP
多$166.4M
$370.9M
两年增速更快
CP
近两年复合增速
1.9%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $2.2B |
| 净利润 | $786.2M | $502.8M |
| 毛利率 | — | 53.2% |
| 营业利润率 | 41.4% | 31.1% |
| 净利率 | 27.7% | 22.6% |
| 营收同比 | 1.3% | -9.8% |
| 净利润同比 | -10.3% | -18.4% |
| 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CPSTZ
| Q4 25 | $2.8B | $2.2B | ||
| Q3 25 | $2.7B | $2.5B | ||
| Q2 25 | $2.7B | $2.5B | ||
| Q1 25 | $2.8B | $2.2B | ||
| Q4 24 | $2.8B | $2.5B | ||
| Q3 24 | $2.6B | $2.9B | ||
| Q2 24 | $2.6B | $2.7B | ||
| Q1 24 | $2.5B | $2.1B |
净利润CPSTZ
| Q4 25 | $786.2M | $502.8M | ||
| Q3 25 | $671.6M | $466.0M | ||
| Q2 25 | $900.8M | $516.1M | ||
| Q1 25 | $664.3M | $-375.3M | ||
| Q4 24 | $876.7M | $615.9M | ||
| Q3 24 | $611.0M | $-1.2B | ||
| Q2 24 | $660.6M | $877.0M | ||
| Q1 24 | $565.8M | $392.4M |
毛利率CPSTZ
| Q4 25 | — | 53.2% | ||
| Q3 25 | — | 52.8% | ||
| Q2 25 | — | 50.4% | ||
| Q1 25 | — | 51.5% | ||
| Q4 24 | — | 52.1% | ||
| Q3 24 | — | 51.8% | ||
| Q2 24 | — | 52.7% | ||
| Q1 24 | — | 48.6% |
营业利润率CPSTZ
| Q4 25 | 41.4% | 31.1% | ||
| Q3 25 | 36.8% | 35.2% | ||
| Q2 25 | 36.6% | 28.4% | ||
| Q1 25 | 35.0% | -6.9% | ||
| Q4 24 | 40.6% | 32.2% | ||
| Q3 24 | 34.3% | -42.1% | ||
| Q2 24 | 35.4% | 35.4% | ||
| Q1 24 | 32.9% | 29.4% |
净利率CPSTZ
| Q4 25 | 27.7% | 22.6% | ||
| Q3 25 | 25.3% | 18.8% | ||
| Q2 25 | 33.6% | 20.5% | ||
| Q1 25 | 24.2% | -17.3% | ||
| Q4 24 | 31.2% | 25.0% | ||
| Q3 24 | 23.9% | -41.1% | ||
| Q2 24 | 25.3% | 32.9% | ||
| Q1 24 | 22.2% | 18.3% |
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 | $152.4M |
| 总债务越低越好 | $14.6B | $10.3B |
| 股东权益账面价值 | $33.5B | $7.7B |
| 总资产 | $62.7B | $21.7B |
| 负债/权益比越低杠杆越低 | 0.43× | 1.33× |
8季度趋势，按日历期对齐
现金及短期投资CPSTZ
| Q4 25 | $134.3M | $152.4M | ||
| Q3 25 | $300.0M | $72.0M | ||
| Q2 25 | $583.3M | $73.9M | ||
| Q1 25 | $507.4M | $68.1M | ||
| Q4 24 | $539.5M | $73.7M | ||
| Q3 24 | $338.0M | $64.6M | ||
| Q2 24 | $406.6M | $73.8M | ||
| Q1 24 | $378.9M | $152.4M |
总债务CPSTZ
| Q4 25 | $14.6B | $10.3B | ||
| Q3 25 | $15.8B | $10.3B | ||
| Q2 25 | $15.5B | $11.2B | ||
| Q1 25 | $15.4B | $10.7B | ||
| Q4 24 | $14.5B | $10.7B | ||
| Q3 24 | $13.7B | $11.1B | ||
| Q2 24 | $13.8B | $11.1B | ||
| Q1 24 | $13.7B | $11.6B |
股东权益CPSTZ
| Q4 25 | $33.5B | $7.7B | ||
| Q3 25 | $33.4B | $7.5B | ||
| Q2 25 | $33.7B | $7.3B | ||
| Q1 25 | $35.2B | $6.9B | ||
| Q4 24 | $35.0B | $7.8B | ||
| Q3 24 | $32.2B | $7.9B | ||
| Q2 24 | $32.0B | $10.3B | ||
| Q1 24 | $31.3B | $9.7B |
总资产CPSTZ
| Q4 25 | $62.7B | $21.7B | ||
| Q3 25 | $63.3B | $21.4B | ||
| Q2 25 | $62.2B | $22.3B | ||
| Q1 25 | $64.3B | $21.7B | ||
| Q4 24 | $64.1B | $22.8B | ||
| Q3 24 | $60.0B | $23.1B | ||
| Q2 24 | $60.4B | $26.1B | ||
| Q1 24 | $59.6B | $25.7B |
负债/权益比CPSTZ
| Q4 25 | 0.43× | 1.33× | ||
| Q3 25 | 0.47× | 1.37× | ||
| Q2 25 | 0.46× | 1.54× | ||
| Q1 25 | 0.44× | 1.55× | ||
| Q4 24 | 0.41× | 1.37× | ||
| Q3 24 | 0.42× | 1.41× | ||
| Q2 24 | 0.43× | 1.08× | ||
| Q1 24 | 0.44× | 1.19× |
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 | $616.9M |
| 自由现金流经营现金流 - 资本支出 | $537.3M | $370.9M |
| 自由现金流率自由现金流/营收 | 18.9% | 16.7% |
| 资本支出强度资本支出/营收 | 20.2% | 11.1% |
| 现金转化率经营现金流/净利润 | 1.42× | 1.23× |
| 过去12个月自由现金流最近4个季度 | $1.6B | $1.8B |
8季度趋势，按日历期对齐
经营现金流CPSTZ
| Q4 25 | $1.1B | $616.9M | ||
| Q3 25 | $930.0M | $852.1M | ||
| Q2 25 | $989.1M | $637.2M | ||
| Q1 25 | $843.9M | $594.7M | ||
| Q4 24 | $1.2B | $685.2M | ||
| Q3 24 | $928.6M | $1.2B | ||
| Q2 24 | $932.9M | $690.5M | ||
| Q1 24 | $741.0M | $433.2M |
自由现金流CPSTZ
| Q4 25 | $537.3M | $370.9M | ||
| Q3 25 | $302.2M | $634.8M | ||
| Q2 25 | $446.8M | $444.4M | ||
| Q1 25 | $324.9M | $312.1M | ||
| Q4 24 | $702.3M | $456.8M | ||
| Q3 24 | $382.5M | $854.0M | ||
| Q2 24 | $343.1M | $315.2M | ||
| Q1 24 | $356.2M | $76.0M |
自由现金流率CPSTZ
| Q4 25 | 18.9% | 16.7% | ||
| Q3 25 | 11.4% | 25.6% | ||
| Q2 25 | 16.7% | 17.7% | ||
| Q1 25 | 11.8% | 14.4% | ||
| Q4 24 | 25.0% | 18.5% | ||
| Q3 24 | 15.0% | 29.3% | ||
| Q2 24 | 13.1% | 11.8% | ||
| Q1 24 | 14.0% | 3.6% |
资本支出强度CPSTZ
| Q4 25 | 20.2% | 11.1% | ||
| Q3 25 | 23.7% | 8.8% | ||
| Q2 25 | 20.2% | 7.7% | ||
| Q1 25 | 18.9% | 13.1% | ||
| Q4 24 | 19.3% | 9.3% | ||
| Q3 24 | 21.4% | 11.2% | ||
| Q2 24 | 22.6% | 14.1% | ||
| Q1 24 | 15.1% | 16.7% |
现金转化率CPSTZ
| Q4 25 | 1.42× | 1.23× | ||
| Q3 25 | 1.38× | 1.83× | ||
| Q2 25 | 1.10× | 1.23× | ||
| Q1 25 | 1.27× | — | ||
| Q4 24 | 1.42× | 1.11× | ||
| Q3 24 | 1.52× | — | ||
| Q2 24 | 1.41× | 0.79× | ||
| Q1 24 | 1.31× | 1.10× |
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
STZ
| Beer | $2.0B | 90% |
| Constellation Wines And Spirits | $213.1M | 10% |
