vs
Corpay（CPAY）与Rivian Automotive, Inc.（RIVN）财务数据对比。点击上方公司名可切换其他公司
Rivian Automotive, Inc.的季度营收约是Corpay的1.0倍（$1.3B vs $1.2B），Corpay净利率更高（21.2% vs -63.1%，领先84.3%），Corpay同比增速更快（20.7% vs -25.8%），Corpay自由现金流更多（$760.3M vs $-1.1B），过去两年Corpay的营收复合增速更高（15.5% vs 3.3%）
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。
Rivian Automotive是2009年成立的美国电动汽车制造商及汽车科技企业，主打基于自研滑板平台打造的电动SUV、皮卡及EDV电动配送货车，旗下R1T皮卡于2021年末正式开启交付，还计划于2023年底前在美国和加拿大布局专属充电网络，其平台可适配新车型也可对外授权使用。
CPAY vs RIVN — 直观对比
营收规模更大
RIVN
是对方的1.0倍
$1.2B
营收增速更快
CPAY
高出46.5%
-25.8%
净利率更高
CPAY
高出84.3%
-63.1%
自由现金流更多
CPAY
多$1.9B
$-1.1B
两年增速更快
CPAY
近两年复合增速
3.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.3B |
| 净利润 | $264.5M | $-811.0M |
| 毛利率 | — | 9.3% |
| 营业利润率 | 45.2% | -64.8% |
| 净利率 | 21.2% | -63.1% |
| 营收同比 | 20.7% | -25.8% |
| 净利润同比 | 7.5% | -9.0% |
| 每股收益（稀释后） | $3.74 | $-0.66 |
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CPAYRIVN
| Q4 25 | $1.2B | $1.3B | ||
| Q3 25 | $1.2B | $1.6B | ||
| Q2 25 | $1.1B | $1.3B | ||
| Q1 25 | $1.0B | $1.2B | ||
| Q4 24 | $1.0B | $1.7B | ||
| Q3 24 | $1.0B | $874.0M | ||
| Q2 24 | $975.7M | $1.2B | ||
| Q1 24 | $935.3M | $1.2B |
净利润CPAYRIVN
| Q4 25 | $264.5M | $-811.0M | ||
| Q3 25 | $277.9M | $-1.2B | ||
| Q2 25 | $284.2M | $-1.1B | ||
| Q1 25 | $243.2M | $-545.0M | ||
| Q4 24 | $246.0M | $-744.0M | ||
| Q3 24 | $276.4M | $-1.1B | ||
| Q2 24 | $251.6M | $-1.5B | ||
| Q1 24 | $229.8M | $-1.4B |
毛利率CPAYRIVN
| Q4 25 | — | 9.3% | ||
| Q3 25 | — | 1.5% | ||
| Q2 25 | — | -15.8% | ||
| Q1 25 | — | 16.6% | ||
| Q4 24 | — | 9.8% | ||
| Q3 24 | — | -44.9% | ||
| Q2 24 | — | -38.9% | ||
| Q1 24 | — | -43.8% |
营业利润率CPAYRIVN
| Q4 25 | 45.2% | -64.8% | ||
| Q3 25 | 44.6% | -63.1% | ||
| Q2 25 | 43.5% | -85.5% | ||
| Q1 25 | 42.5% | -52.8% | ||
| Q4 24 | 47.2% | -38.1% | ||
| Q3 24 | 45.5% | -133.8% | ||
| Q2 24 | 44.4% | -118.7% | ||
| Q1 24 | 42.5% | -123.3% |
净利率CPAYRIVN
| Q4 25 | 21.2% | -63.1% | ||
| Q3 25 | 23.7% | -75.3% | ||
| Q2 25 | 25.8% | -85.7% | ||
| Q1 25 | 24.2% | -44.0% | ||
| Q4 24 | 23.8% | -42.9% | ||
| Q3 24 | 26.9% | -125.9% | ||
| Q2 24 | 25.8% | -125.8% | ||
| Q1 24 | 24.6% | -120.1% |
每股收益（稀释后）CPAYRIVN
| Q4 25 | $3.74 | $-0.66 | ||
| Q3 25 | $3.91 | $-0.96 | ||
| Q2 25 | $3.98 | $-0.97 | ||
| Q1 25 | $3.40 | $-0.48 | ||
| Q4 24 | $3.43 | $-0.67 | ||
| Q3 24 | $3.90 | $-1.08 | ||
| Q2 24 | $3.52 | $-1.46 | ||
| Q1 24 | $3.12 | $-1.48 |
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 | $6.1B |
| 总债务越低越好 | $10.0B | — |
| 股东权益账面价值 | $3.9B | $4.6B |
| 总资产 | $26.4B | $14.9B |
| 负债/权益比越低杠杆越低 | 2.58× | — |
8季度趋势，按日历期对齐
现金及短期投资CPAYRIVN
| Q4 25 | $2.4B | $6.1B | ||
| Q3 25 | $2.0B | $7.1B | ||
| Q2 25 | $2.2B | $7.5B | ||
| Q1 25 | $1.6B | $7.2B | ||
| Q4 24 | $1.6B | $7.7B | ||
| Q3 24 | $1.3B | $6.7B | ||
| Q2 24 | $1.4B | $7.9B | ||
| Q1 24 | $1.3B | $7.9B |
总债务CPAYRIVN
| Q4 25 | $10.0B | — | ||
| Q3 25 | $8.1B | — | ||
| Q2 25 | $8.1B | — | ||
| Q1 25 | $8.2B | — | ||
| Q4 24 | $8.0B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $5.5B | ||
| Q1 24 | — | $4.4B |
股东权益CPAYRIVN
| Q4 25 | $3.9B | $4.6B | ||
| Q3 25 | $4.1B | $5.1B | ||
| Q2 25 | $3.9B | $6.1B | ||
| Q1 25 | $3.5B | $6.2B | ||
| Q4 24 | $3.1B | $6.6B | ||
| Q3 24 | $3.1B | $5.9B | ||
| Q2 24 | $2.8B | $6.8B | ||
| Q1 24 | $3.3B | $8.1B |
总资产CPAYRIVN
| Q4 25 | $26.4B | $14.9B | ||
| Q3 25 | $19.7B | $15.2B | ||
| Q2 25 | $20.4B | $15.6B | ||
| Q1 25 | $18.5B | $15.5B | ||
| Q4 24 | $18.0B | $15.4B | ||
| Q3 24 | $17.6B | $14.3B | ||
| Q2 24 | $16.2B | $15.4B | ||
| Q1 24 | $15.8B | $15.7B |
负债/权益比CPAYRIVN
| Q4 25 | 2.58× | — | ||
| Q3 25 | 1.99× | — | ||
| Q2 25 | 2.07× | — | ||
| Q1 25 | 2.37× | — | ||
| Q4 24 | 2.56× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.81× | ||
| Q1 24 | — | 0.55× |
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 | $-681.0M |
| 自由现金流经营现金流 - 资本支出 | $760.3M | $-1.1B |
| 自由现金流率自由现金流/营收 | 60.9% | -89.0% |
| 资本支出强度资本支出/营收 | 4.2% | 36.0% |
| 现金转化率经营现金流/净利润 | 3.07× | — |
| 过去12个月自由现金流最近4个季度 | $1.3B | $-2.5B |
8季度趋势，按日历期对齐
经营现金流CPAYRIVN
| Q4 25 | $812.7M | $-681.0M | ||
| Q3 25 | $-378.9M | $26.0M | ||
| Q2 25 | $1.1B | $64.0M | ||
| Q1 25 | $-74.2M | $-188.0M | ||
| Q4 24 | $648.7M | $1.2B | ||
| Q3 24 | $400.8M | $-876.0M | ||
| Q2 24 | $540.9M | $-754.0M | ||
| Q1 24 | $350.2M | $-1.3B |
自由现金流CPAYRIVN
| Q4 25 | $760.3M | $-1.1B | ||
| Q3 25 | $-429.8M | $-421.0M | ||
| Q2 25 | $1.1B | $-398.0M | ||
| Q1 25 | $-118.9M | $-526.0M | ||
| Q4 24 | $604.6M | $856.0M | ||
| Q3 24 | $355.0M | $-1.2B | ||
| Q2 24 | $496.8M | $-1.0B | ||
| Q1 24 | $309.0M | $-1.5B |
自由现金流率CPAYRIVN
| Q4 25 | 60.9% | -89.0% | ||
| Q3 25 | -36.7% | -27.0% | ||
| Q2 25 | 98.7% | -30.5% | ||
| Q1 25 | -11.8% | -42.4% | ||
| Q4 24 | 58.4% | 49.4% | ||
| Q3 24 | 34.5% | -131.9% | ||
| Q2 24 | 50.9% | -89.6% | ||
| Q1 24 | 33.0% | -126.5% |
资本支出强度CPAYRIVN
| Q4 25 | 4.2% | 36.0% | ||
| Q3 25 | 4.3% | 28.7% | ||
| Q2 25 | 4.8% | 35.5% | ||
| Q1 25 | 4.5% | 27.3% | ||
| Q4 24 | 4.3% | 18.9% | ||
| Q3 24 | 4.4% | 31.7% | ||
| Q2 24 | 4.5% | 24.4% | ||
| Q1 24 | 4.4% | 21.1% |
现金转化率CPAYRIVN
| Q4 25 | 3.07× | — | ||
| Q3 25 | -1.36× | — | ||
| Q2 25 | 4.01× | — | ||
| Q1 25 | -0.30× | — | ||
| Q4 24 | 2.64× | — | ||
| Q3 24 | 1.45× | — | ||
| Q2 24 | 2.15× | — | ||
| Q1 24 | 1.52× | — |
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% |
RIVN
| Automotive Segment | $839.0M | 65% |
| Software And Services Segment | $447.0M | 35% |
| Regulatory Credits | $30.0M | 2% |
