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加拿大国家铁路（CP）与斑马技术（ZBRA）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斑马技术的1.9倍（$2.8B vs $1.5B），加拿大国家铁路净利率更高（27.7% vs 4.7%，领先22.9%），斑马技术同比增速更快（10.6% vs 1.3%），加拿大国家铁路自由现金流更多（$537.3M vs $327.0M），过去两年斑马技术的营收复合增速更高（12.0% 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。
斑马技术（Zebra Technologies）是源自美国的跨国科技企业，专注于智能数据采集系统领域的研发与落地。公司总部位于芝加哥郊外的伊利诺伊州林肯郡，目前在全球57个国家和地区开展业务，雇员总数达10700名。
CP vs ZBRA — 直观对比
营收规模更大
CP
是对方的1.9倍
$1.5B
营收增速更快
ZBRA
高出9.3%
1.3%
净利率更高
CP
高出22.9%
4.7%
自由现金流更多
CP
多$210.3M
$327.0M
两年增速更快
ZBRA
近两年复合增速
5.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $1.5B |
| 净利润 | $786.2M | $70.0M |
| 毛利率 | — | 47.3% |
| 营业利润率 | 41.4% | 9.4% |
| 净利率 | 27.7% | 4.7% |
| 营收同比 | 1.3% | 10.6% |
| 净利润同比 | -10.3% | -57.1% |
| 每股收益（稀释后） | — | $1.40 |
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CPZBRA
| Q4 25 | $2.8B | $1.5B | ||
| Q3 25 | $2.7B | $1.3B | ||
| Q2 25 | $2.7B | $1.3B | ||
| Q1 25 | $2.8B | $1.3B | ||
| Q4 24 | $2.8B | $1.3B | ||
| Q3 24 | $2.6B | $1.3B | ||
| Q2 24 | $2.6B | $1.2B | ||
| Q1 24 | $2.5B | $1.2B |
净利润CPZBRA
| Q4 25 | $786.2M | $70.0M | ||
| Q3 25 | $671.6M | $101.0M | ||
| Q2 25 | $900.8M | $112.0M | ||
| Q1 25 | $664.3M | $136.0M | ||
| Q4 24 | $876.7M | $163.0M | ||
| Q3 24 | $611.0M | $137.0M | ||
| Q2 24 | $660.6M | $113.0M | ||
| Q1 24 | $565.8M | $115.0M |
毛利率CPZBRA
| Q4 25 | — | 47.3% | ||
| Q3 25 | — | 48.0% | ||
| Q2 25 | — | 47.6% | ||
| Q1 25 | — | 49.3% | ||
| Q4 24 | — | 48.6% | ||
| Q3 24 | — | 48.8% | ||
| Q2 24 | — | 48.4% | ||
| Q1 24 | — | 47.9% |
营业利润率CPZBRA
| Q4 25 | 41.4% | 9.4% | ||
| Q3 25 | 36.8% | 13.9% | ||
| Q2 25 | 36.6% | 14.2% | ||
| Q1 25 | 35.0% | 14.9% | ||
| Q4 24 | 40.6% | 16.9% | ||
| Q3 24 | 34.3% | 15.2% | ||
| Q2 24 | 35.4% | 13.7% | ||
| Q1 24 | 32.9% | 13.5% |
净利率CPZBRA
| Q4 25 | 27.7% | 4.7% | ||
| Q3 25 | 25.3% | 7.7% | ||
| Q2 25 | 33.6% | 8.7% | ||
| Q1 25 | 24.2% | 10.4% | ||
| Q4 24 | 31.2% | 12.2% | ||
| Q3 24 | 23.9% | 10.9% | ||
| Q2 24 | 25.3% | 9.3% | ||
| Q1 24 | 22.2% | 9.8% |
每股收益（稀释后）CPZBRA
| Q4 25 | — | $1.40 | ||
| Q3 25 | — | $1.97 | ||
| Q2 25 | — | $2.19 | ||
| Q1 25 | — | $2.62 | ||
| Q4 24 | — | $3.14 | ||
| Q3 24 | — | $2.64 | ||
| Q2 24 | — | $2.17 | ||
| Q1 24 | — | $2.23 |
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 | $125.0M |
| 总债务越低越好 | $14.6B | — |
| 股东权益账面价值 | $33.5B | $3.6B |
| 总资产 | $62.7B | $8.5B |
| 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CPZBRA
| Q4 25 | $134.3M | $125.0M | ||
| Q3 25 | $300.0M | $1.1B | ||
| Q2 25 | $583.3M | $872.0M | ||
| Q1 25 | $507.4M | $879.0M | ||
| Q4 24 | $539.5M | $901.0M | ||
| Q3 24 | $338.0M | $676.0M | ||
| Q2 24 | $406.6M | $411.0M | ||
| Q1 24 | $378.9M | $127.0M |
总债务CPZBRA
| Q4 25 | $14.6B | — | ||
| Q3 25 | $15.8B | $2.2B | ||
| Q2 25 | $15.5B | $2.2B | ||
| Q1 25 | $15.4B | $2.2B | ||
| Q4 24 | $14.5B | — | ||
| Q3 24 | $13.7B | $2.2B | ||
| Q2 24 | $13.8B | $2.2B | ||
| Q1 24 | $13.7B | $2.1B |
股东权益CPZBRA
| Q4 25 | $33.5B | $3.6B | ||
| Q3 25 | $33.4B | $3.7B | ||
| Q2 25 | $33.7B | $3.6B | ||
| Q1 25 | $35.2B | $3.6B | ||
| Q4 24 | $35.0B | $3.6B | ||
| Q3 24 | $32.2B | $3.4B | ||
| Q2 24 | $32.0B | $3.3B | ||
| Q1 24 | $31.3B | $3.2B |
总资产CPZBRA
| Q4 25 | $62.7B | $8.5B | ||
| Q3 25 | $63.3B | $8.1B | ||
| Q2 25 | $62.2B | $7.9B | ||
| Q1 25 | $64.3B | $7.9B | ||
| Q4 24 | $64.1B | $8.0B | ||
| Q3 24 | $60.0B | $7.7B | ||
| Q2 24 | $60.4B | $7.5B | ||
| Q1 24 | $59.6B | $7.3B |
负债/权益比CPZBRA
| Q4 25 | 0.43× | — | ||
| Q3 25 | 0.47× | 0.58× | ||
| Q2 25 | 0.46× | 0.60× | ||
| Q1 25 | 0.44× | 0.60× | ||
| Q4 24 | 0.41× | — | ||
| Q3 24 | 0.42× | 0.64× | ||
| Q2 24 | 0.43× | 0.66× | ||
| Q1 24 | 0.44× | 0.66× |
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 | $357.0M |
| 自由现金流经营现金流 - 资本支出 | $537.3M | $327.0M |
| 自由现金流率自由现金流/营收 | 18.9% | 22.2% |
| 资本支出强度资本支出/营收 | 20.2% | 2.0% |
| 现金转化率经营现金流/净利润 | 1.42× | 5.10× |
| 过去12个月自由现金流最近4个季度 | $1.6B | $831.0M |
8季度趋势，按日历期对齐
经营现金流CPZBRA
| Q4 25 | $1.1B | $357.0M | ||
| Q3 25 | $930.0M | $235.0M | ||
| Q2 25 | $989.1M | $147.0M | ||
| Q1 25 | $843.9M | $178.0M | ||
| Q4 24 | $1.2B | $306.0M | ||
| Q3 24 | $928.6M | $294.0M | ||
| Q2 24 | $932.9M | $288.0M | ||
| Q1 24 | $741.0M | $125.0M |
自由现金流CPZBRA
| Q4 25 | $537.3M | $327.0M | ||
| Q3 25 | $302.2M | $216.0M | ||
| Q2 25 | $446.8M | $130.0M | ||
| Q1 25 | $324.9M | $158.0M | ||
| Q4 24 | $702.3M | $288.0M | ||
| Q3 24 | $382.5M | $277.0M | ||
| Q2 24 | $343.1M | $278.0M | ||
| Q1 24 | $356.2M | $111.0M |
自由现金流率CPZBRA
| Q4 25 | 18.9% | 22.2% | ||
| Q3 25 | 11.4% | 16.4% | ||
| Q2 25 | 16.7% | 10.1% | ||
| Q1 25 | 11.8% | 12.1% | ||
| Q4 24 | 25.0% | 21.6% | ||
| Q3 24 | 15.0% | 22.1% | ||
| Q2 24 | 13.1% | 22.8% | ||
| Q1 24 | 14.0% | 9.4% |
资本支出强度CPZBRA
| Q4 25 | 20.2% | 2.0% | ||
| Q3 25 | 23.7% | 1.4% | ||
| Q2 25 | 20.2% | 1.3% | ||
| Q1 25 | 18.9% | 1.5% | ||
| Q4 24 | 19.3% | 1.3% | ||
| Q3 24 | 21.4% | 1.4% | ||
| Q2 24 | 22.6% | 0.8% | ||
| Q1 24 | 15.1% | 1.2% |
现金转化率CPZBRA
| Q4 25 | 1.42× | 5.10× | ||
| Q3 25 | 1.38× | 2.33× | ||
| Q2 25 | 1.10× | 1.31× | ||
| Q1 25 | 1.27× | 1.31× | ||
| Q4 24 | 1.42× | 1.88× | ||
| Q3 24 | 1.52× | 2.15× | ||
| Q2 24 | 1.41× | 2.55× | ||
| Q1 24 | 1.31× | 1.09× |
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
ZBRA
| Tangible Products | $1.2B | 83% |
| Service And Software | $255.0M | 17% |
