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加拿大国家铁路（CP）与Vistra Corp.（VST）财务数据对比。点击上方公司名可切换其他公司
Vistra Corp.的季度营收约是加拿大国家铁路的1.7倍（$4.8B vs $2.8B），加拿大国家铁路净利率更高（27.7% vs 4.8%，领先22.8%），Vistra Corp.同比增速更快（31.2% vs 1.3%），Vistra Corp.自由现金流更多（$596.0M vs $537.3M），过去两年Vistra Corp.的营收复合增速更高（23.3% 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。
股票代码为VST的Vistra Corp是总部位于美国得克萨斯州的能源企业，主营电力生产、可再生能源开发及能源零售等业务。此外“Vistra”也可指一家总部位于中国香港的企业服务提供商，为全球客户提供公司注册、合规管理等专业服务。
CP vs VST — 直观对比
营收规模更大
VST
是对方的1.7倍
$2.8B
营收增速更快
VST
高出29.9%
1.3%
净利率更高
CP
高出22.8%
4.8%
自由现金流更多
VST
多$58.7M
$537.3M
两年增速更快
VST
近两年复合增速
5.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $4.8B |
| 净利润 | $786.2M | $233.0M |
| 毛利率 | — | — |
| 营业利润率 | 41.4% | 9.9% |
| 净利率 | 27.7% | 4.8% |
| 营收同比 | 1.3% | 31.2% |
| 净利润同比 | -10.3% | -47.2% |
| 每股收益（稀释后） | — | $0.55 |
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CPVST
| Q4 25 | $2.8B | $4.8B | ||
| Q3 25 | $2.7B | $4.8B | ||
| Q2 25 | $2.7B | $3.8B | ||
| Q1 25 | $2.8B | $4.3B | ||
| Q4 24 | $2.8B | $3.7B | ||
| Q3 24 | $2.6B | $4.3B | ||
| Q2 24 | $2.6B | $3.6B | ||
| Q1 24 | $2.5B | $3.2B |
净利润CPVST
| Q4 25 | $786.2M | $233.0M | ||
| Q3 25 | $671.6M | $652.0M | ||
| Q2 25 | $900.8M | $327.0M | ||
| Q1 25 | $664.3M | $-268.0M | ||
| Q4 24 | $876.7M | $441.0M | ||
| Q3 24 | $611.0M | $1.9B | ||
| Q2 24 | $660.6M | $365.0M | ||
| Q1 24 | $565.8M | $-35.0M |
营业利润率CPVST
| Q4 25 | 41.4% | 9.9% | ||
| Q3 25 | 36.8% | 21.7% | ||
| Q2 25 | 36.6% | 13.7% | ||
| Q1 25 | 35.0% | -2.8% | ||
| Q4 24 | 40.6% | 16.4% | ||
| Q3 24 | 34.3% | 59.6% | ||
| Q2 24 | 35.4% | 22.5% | ||
| Q1 24 | 32.9% | 2.7% |
净利率CPVST
| Q4 25 | 27.7% | 4.8% | ||
| Q3 25 | 25.3% | 13.6% | ||
| Q2 25 | 33.6% | 8.7% | ||
| Q1 25 | 24.2% | -6.3% | ||
| Q4 24 | 31.2% | 12.0% | ||
| Q3 24 | 23.9% | 43.5% | ||
| Q2 24 | 25.3% | 10.1% | ||
| Q1 24 | 22.2% | -1.1% |
每股收益（稀释后）CPVST
| Q4 25 | — | $0.55 | ||
| Q3 25 | — | $1.75 | ||
| Q2 25 | — | $0.81 | ||
| Q1 25 | — | $-0.93 | ||
| Q4 24 | — | $1.09 | ||
| Q3 24 | — | $5.25 | ||
| Q2 24 | — | $0.90 | ||
| 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 | $785.0M |
| 总债务越低越好 | $14.6B | $15.8B |
| 股东权益账面价值 | $33.5B | $5.1B |
| 总资产 | $62.7B | $41.5B |
| 负债/权益比越低杠杆越低 | 0.43× | 3.11× |
8季度趋势，按日历期对齐
现金及短期投资CPVST
| Q4 25 | $134.3M | $785.0M | ||
| Q3 25 | $300.0M | $602.0M | ||
| Q2 25 | $583.3M | $458.0M | ||
| Q1 25 | $507.4M | $561.0M | ||
| Q4 24 | $539.5M | $1.2B | ||
| Q3 24 | $338.0M | $905.0M | ||
| Q2 24 | $406.6M | $1.6B | ||
| Q1 24 | $378.9M | $1.1B |
总债务CPVST
| Q4 25 | $14.6B | $15.8B | ||
| Q3 25 | $15.8B | $15.8B | ||
| Q2 25 | $15.5B | $15.5B | ||
| Q1 25 | $15.4B | $15.4B | ||
| Q4 24 | $14.5B | $15.4B | ||
| Q3 24 | $13.7B | $13.9B | ||
| Q2 24 | $13.8B | $13.9B | ||
| Q1 24 | $13.7B | $14.7B |
股东权益CPVST
| Q4 25 | $33.5B | $5.1B | ||
| Q3 25 | $33.4B | $5.2B | ||
| Q2 25 | $33.7B | $4.8B | ||
| Q1 25 | $35.2B | $4.8B | ||
| Q4 24 | $35.0B | $5.6B | ||
| Q3 24 | $32.2B | $5.4B | ||
| Q2 24 | $32.0B | $5.6B | ||
| Q1 24 | $31.3B | $5.7B |
总资产CPVST
| Q4 25 | $62.7B | $41.5B | ||
| Q3 25 | $63.3B | $38.0B | ||
| Q2 25 | $62.2B | $38.1B | ||
| Q1 25 | $64.3B | $38.2B | ||
| Q4 24 | $64.1B | $37.8B | ||
| Q3 24 | $60.0B | $37.9B | ||
| Q2 24 | $60.4B | $39.1B | ||
| Q1 24 | $59.6B | $38.2B |
负债/权益比CPVST
| Q4 25 | 0.43× | 3.11× | ||
| Q3 25 | 0.47× | 3.02× | ||
| Q2 25 | 0.46× | 3.22× | ||
| Q1 25 | 0.44× | 3.20× | ||
| Q4 24 | 0.41× | 2.77× | ||
| Q3 24 | 0.42× | 2.56× | ||
| Q2 24 | 0.43× | 2.49× | ||
| Q1 24 | 0.44× | 2.60× |
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 | $1.4B |
| 自由现金流经营现金流 - 资本支出 | $537.3M | $596.0M |
| 自由现金流率自由现金流/营收 | 18.9% | 12.4% |
| 资本支出强度资本支出/营收 | 20.2% | 17.4% |
| 现金转化率经营现金流/净利润 | 1.42× | 6.15× |
| 过去12个月自由现金流最近4个季度 | $1.6B | $1.3B |
8季度趋势，按日历期对齐
经营现金流CPVST
| Q4 25 | $1.1B | $1.4B | ||
| Q3 25 | $930.0M | $1.5B | ||
| Q2 25 | $989.1M | $572.0M | ||
| Q1 25 | $843.9M | $599.0M | ||
| Q4 24 | $1.2B | $1.4B | ||
| Q3 24 | $928.6M | $1.7B | ||
| Q2 24 | $932.9M | $1.2B | ||
| Q1 24 | $741.0M | $312.0M |
自由现金流CPVST
| Q4 25 | $537.3M | $596.0M | ||
| Q3 25 | $302.2M | $1.0B | ||
| Q2 25 | $446.8M | $-118.0M | ||
| Q1 25 | $324.9M | $-169.0M | ||
| Q4 24 | $702.3M | $923.0M | ||
| Q3 24 | $382.5M | $1.0B | ||
| Q2 24 | $343.1M | $698.0M | ||
| Q1 24 | $356.2M | $-153.0M |
自由现金流率CPVST
| Q4 25 | 18.9% | 12.4% | ||
| Q3 25 | 11.4% | 21.1% | ||
| Q2 25 | 16.7% | -3.1% | ||
| Q1 25 | 11.8% | -4.0% | ||
| Q4 24 | 25.0% | 25.2% | ||
| Q3 24 | 15.0% | 23.4% | ||
| Q2 24 | 13.1% | 19.4% | ||
| Q1 24 | 14.0% | -4.8% |
资本支出强度CPVST
| Q4 25 | 20.2% | 17.4% | ||
| Q3 25 | 23.7% | 9.6% | ||
| Q2 25 | 20.2% | 18.4% | ||
| Q1 25 | 18.9% | 18.1% | ||
| Q4 24 | 19.3% | 11.7% | ||
| Q3 24 | 21.4% | 15.8% | ||
| Q2 24 | 22.6% | 13.8% | ||
| Q1 24 | 15.1% | 14.7% |
现金转化率CPVST
| Q4 25 | 1.42× | 6.15× | ||
| Q3 25 | 1.38× | 2.25× | ||
| Q2 25 | 1.10× | 1.75× | ||
| Q1 25 | 1.27× | — | ||
| Q4 24 | 1.42× | 3.07× | ||
| Q3 24 | 1.52× | 0.90× | ||
| Q2 24 | 1.41× | 3.28× | ||
| 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
业务分部营收拆解
CP
暂无分部数据
VST
| Retail Energy Charge In ERCOT | $2.1B | 43% |
| Retail Energy Charge In Northeast Midwest | $1.2B | 24% |
| East Segment | $1.1B | 24% |
| Hedging Revenue Realized | $170.0M | 4% |
| Revenue From Other Wholesale Contracts | $116.0M | 2% |
| Transferable Production Tax Credit Revenues | $78.0M | 2% |
| West Segment | $77.0M | 2% |
| Intersegment Sales | $25.0M | 1% |
