vs
Corpay（CPAY）与利氏兄弟拍卖行（RBA）财务数据对比。点击上方公司名可切换其他公司
Corpay的季度营收约是利氏兄弟拍卖行的1.0倍（$1.2B vs $1.2B），Corpay净利率更高（21.2% vs 9.1%，领先12.1%），Corpay同比增速更快（20.7% vs 5.4%），Corpay自由现金流更多（$760.3M vs $186.5M），过去两年Corpay的营收复合增速更高（15.5% vs 6.3%）
Corpay总部位于美国佐治亚州亚特兰大，是专业的支付与支出管理服务提供商，旗下系统及服务可帮助客户高效管控采购、支付全流程的相关费用，核心业务覆盖车辆相关支出、住宿支出及企业支付三大领域。
利氏兄弟拍卖行（股票代码RBA）是全球知名的工业资产拍卖服务商，注册地位于加拿大，属公开上市企业，总部设在美国伊利诺伊州韦斯特切斯特，普通股同时在多伦多证券交易所与纽约证券交易所挂牌交易。
CPAY vs RBA — 直观对比
营收规模更大
CPAY
是对方的1.0倍
$1.2B
营收增速更快
CPAY
高出15.3%
5.4%
净利率更高
CPAY
高出12.1%
9.1%
自由现金流更多
CPAY
多$573.8M
$186.5M
两年增速更快
CPAY
近两年复合增速
6.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.2B |
| 净利润 | $264.5M | $109.7M |
| 毛利率 | — | — |
| 营业利润率 | 45.2% | 14.7% |
| 净利率 | 21.2% | 9.1% |
| 营收同比 | 20.7% | 5.4% |
| 净利润同比 | 7.5% | -7.4% |
| 每股收益（稀释后） | $3.74 | $0.53 |
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CPAYRBA
| Q4 25 | $1.2B | $1.2B | ||
| Q3 25 | $1.2B | $1.1B | ||
| Q2 25 | $1.1B | $1.2B | ||
| Q1 25 | $1.0B | $1.1B | ||
| Q4 24 | $1.0B | $1.1B | ||
| Q3 24 | $1.0B | $981.8M | ||
| Q2 24 | $975.7M | $1.1B | ||
| Q1 24 | $935.3M | $1.1B |
净利润CPAYRBA
| Q4 25 | $264.5M | $109.7M | ||
| Q3 25 | $277.9M | $95.5M | ||
| Q2 25 | $284.2M | $109.8M | ||
| Q1 25 | $243.2M | $113.4M | ||
| Q4 24 | $246.0M | $118.5M | ||
| Q3 24 | $276.4M | $76.1M | ||
| Q2 24 | $251.6M | $111.1M | ||
| Q1 24 | $229.8M | $107.4M |
营业利润率CPAYRBA
| Q4 25 | 45.2% | 14.7% | ||
| Q3 25 | 44.6% | 14.5% | ||
| Q2 25 | 43.5% | 15.9% | ||
| Q1 25 | 42.5% | 17.1% | ||
| Q4 24 | 47.2% | 18.1% | ||
| Q3 24 | 45.5% | 15.6% | ||
| Q2 24 | 44.4% | 18.4% | ||
| Q1 24 | 42.5% | 18.7% |
净利率CPAYRBA
| Q4 25 | 21.2% | 9.1% | ||
| Q3 25 | 23.7% | 8.7% | ||
| Q2 25 | 25.8% | 9.3% | ||
| Q1 25 | 24.2% | 10.2% | ||
| Q4 24 | 23.8% | 10.4% | ||
| Q3 24 | 26.9% | 7.8% | ||
| Q2 24 | 25.8% | 10.1% | ||
| Q1 24 | 24.6% | 10.1% |
每股收益（稀释后）CPAYRBA
| Q4 25 | $3.74 | $0.53 | ||
| Q3 25 | $3.91 | $0.43 | ||
| Q2 25 | $3.98 | $0.53 | ||
| Q1 25 | $3.40 | $0.55 | ||
| Q4 24 | $3.43 | $0.58 | ||
| Q3 24 | $3.90 | $0.36 | ||
| Q2 24 | $3.52 | $0.54 | ||
| Q1 24 | $3.12 | $0.53 |
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 | $2.4B | $531.5M |
| 总债务越低越好 | $10.0B | $2.3B |
| 股东权益账面价值 | $3.9B | $5.6B |
| 总资产 | $26.4B | $12.1B |
| 负债/权益比越低杠杆越低 | 2.58× | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资CPAYRBA
| Q4 25 | $2.4B | $531.5M | ||
| Q3 25 | $2.0B | $674.7M | ||
| Q2 25 | $2.2B | $710.2M | ||
| Q1 25 | $1.6B | $578.1M | ||
| Q4 24 | $1.6B | $533.9M | ||
| Q3 24 | $1.3B | $650.7M | ||
| Q2 24 | $1.4B | $599.5M | ||
| Q1 24 | $1.3B | $462.8M |
总债务CPAYRBA
| Q4 25 | $10.0B | $2.3B | ||
| Q3 25 | $8.1B | $2.6B | ||
| Q2 25 | $8.1B | $2.6B | ||
| Q1 25 | $8.2B | $2.6B | ||
| Q4 24 | $8.0B | $2.6B | ||
| Q3 24 | — | $2.7B | ||
| Q2 24 | — | $2.8B | ||
| Q1 24 | — | $2.9B |
股东权益CPAYRBA
| Q4 25 | $3.9B | $5.6B | ||
| Q3 25 | $4.1B | $5.5B | ||
| Q2 25 | $3.9B | $5.5B | ||
| Q1 25 | $3.5B | $5.3B | ||
| Q4 24 | $3.1B | $5.2B | ||
| Q3 24 | $3.1B | $5.2B | ||
| Q2 24 | $2.8B | $5.2B | ||
| Q1 24 | $3.3B | $5.1B |
总资产CPAYRBA
| Q4 25 | $26.4B | $12.1B | ||
| Q3 25 | $19.7B | $12.2B | ||
| Q2 25 | $20.4B | $12.2B | ||
| Q1 25 | $18.5B | $11.9B | ||
| Q4 24 | $18.0B | $11.8B | ||
| Q3 24 | $17.6B | $11.9B | ||
| Q2 24 | $16.2B | $12.1B | ||
| Q1 24 | $15.8B | $12.0B |
负债/权益比CPAYRBA
| Q4 25 | 2.58× | 0.42× | ||
| Q3 25 | 1.99× | 0.47× | ||
| Q2 25 | 2.07× | 0.47× | ||
| Q1 25 | 2.37× | 0.50× | ||
| Q4 24 | 2.56× | 0.50× | ||
| Q3 24 | — | 0.52× | ||
| Q2 24 | — | 0.55× | ||
| Q1 24 | — | 0.58× |
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 | $812.7M | $255.2M |
| 自由现金流经营现金流 - 资本支出 | $760.3M | $186.5M |
| 自由现金流率自由现金流/营收 | 60.9% | 15.5% |
| 资本支出强度资本支出/营收 | 4.2% | 5.7% |
| 现金转化率经营现金流/净利润 | 3.07× | 2.33× |
| 过去12个月自由现金流最近4个季度 | $1.3B | $719.2M |
8季度趋势，按日历期对齐
经营现金流CPAYRBA
| Q4 25 | $812.7M | $255.2M | ||
| Q3 25 | $-378.9M | $239.7M | ||
| Q2 25 | $1.1B | $326.5M | ||
| Q1 25 | $-74.2M | $156.8M | ||
| Q4 24 | $648.7M | $184.5M | ||
| Q3 24 | $400.8M | $285.4M | ||
| Q2 24 | $540.9M | $337.3M | ||
| Q1 24 | $350.2M | $124.8M |
自由现金流CPAYRBA
| Q4 25 | $760.3M | $186.5M | ||
| Q3 25 | $-429.8M | $188.5M | ||
| Q2 25 | $1.1B | $241.7M | ||
| Q1 25 | $-118.9M | $102.5M | ||
| Q4 24 | $604.6M | $127.9M | ||
| Q3 24 | $355.0M | $248.5M | ||
| Q2 24 | $496.8M | $308.6M | ||
| Q1 24 | $309.0M | $79.6M |
自由现金流率CPAYRBA
| Q4 25 | 60.9% | 15.5% | ||
| Q3 25 | -36.7% | 17.3% | ||
| Q2 25 | 98.7% | 20.4% | ||
| Q1 25 | -11.8% | 9.2% | ||
| Q4 24 | 58.4% | 11.2% | ||
| Q3 24 | 34.5% | 25.3% | ||
| Q2 24 | 50.9% | 28.2% | ||
| Q1 24 | 33.0% | 7.5% |
资本支出强度CPAYRBA
| Q4 25 | 4.2% | 5.7% | ||
| Q3 25 | 4.3% | 4.7% | ||
| Q2 25 | 4.8% | 7.2% | ||
| Q1 25 | 4.5% | 4.9% | ||
| Q4 24 | 4.3% | 5.0% | ||
| Q3 24 | 4.4% | 3.8% | ||
| Q2 24 | 4.5% | 2.6% | ||
| Q1 24 | 4.4% | 4.2% |
现金转化率CPAYRBA
| Q4 25 | 3.07× | 2.33× | ||
| Q3 25 | -1.36× | 2.51× | ||
| Q2 25 | 4.01× | 2.97× | ||
| Q1 25 | -0.30× | 1.38× | ||
| Q4 24 | 2.64× | 1.56× | ||
| Q3 24 | 1.45× | 3.75× | ||
| Q2 24 | 2.15× | 3.04× | ||
| Q1 24 | 1.52× | 1.16× |
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
CPAY
| Vehicle Payments | $572.9M | 46% |
| Corporate Payments | $480.8M | 39% |
| Lodging Payments | $112.5M | 9% |
| Other Operating Segments | $82.1M | 7% |
RBA
| Buyer Revenue | $577.2M | 48% |
| Seller Revenue | $255.2M | 21% |
| CA | $199.0M | 17% |
| Other | $124.7M | 10% |
| AU | $47.3M | 4% |
