vs
Corpay（CPAY）与RUSH ENTERPRISES INC \TX\（RUSHA）财务数据对比。点击上方公司名可切换其他公司
RUSH ENTERPRISES INC \TX\的季度营收约是Corpay的1.3倍（$1.7B vs $1.2B），Corpay净利率更高（21.2% vs 3.7%，领先17.5%），Corpay同比增速更快（20.7% vs -9.0%），Corpay自由现金流更多（$760.3M vs $411.6M），过去两年Corpay的营收复合增速更高（15.5% vs -6.8%）
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。
Rush Enterprises是总部位于美国得克萨斯州新布朗费尔斯的商用车经销商，核心业务是通过旗下Rush Truck Centers销售全新及二手卡车。2019年该公司在全美20个州运营超200家卡车中心，在加拿大设有14个网点，2020年入选财富500强榜单。
CPAY vs RUSHA — 直观对比
营收规模更大
RUSHA
是对方的1.3倍
$1.2B
营收增速更快
CPAY
高出29.7%
-9.0%
净利率更高
CPAY
高出17.5%
3.7%
自由现金流更多
CPAY
多$348.7M
$411.6M
两年增速更快
CPAY
近两年复合增速
-6.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.7B |
| 净利润 | $264.5M | $61.7M |
| 毛利率 | — | 20.4% |
| 营业利润率 | 45.2% | 4.9% |
| 净利率 | 21.2% | 3.7% |
| 营收同比 | 20.7% | -9.0% |
| 净利润同比 | 7.5% | 1.8% |
| 每股收益（稀释后） | $3.74 | $0.77 |
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CPAYRUSHA
| Q1 26 | — | $1.7B | ||
| Q4 25 | $1.2B | $1.7B | ||
| Q3 25 | $1.2B | $1.8B | ||
| Q2 25 | $1.1B | $1.8B | ||
| Q1 25 | $1.0B | $1.8B | ||
| Q4 24 | $1.0B | $1.9B | ||
| Q3 24 | $1.0B | $1.8B | ||
| Q2 24 | $975.7M | $1.9B |
净利润CPAYRUSHA
| Q1 26 | — | $61.7M | ||
| Q4 25 | $264.5M | $64.3M | ||
| Q3 25 | $277.9M | $66.7M | ||
| Q2 25 | $284.2M | $72.4M | ||
| Q1 25 | $243.2M | $60.3M | ||
| Q4 24 | $246.0M | $74.8M | ||
| Q3 24 | $276.4M | $79.1M | ||
| Q2 24 | $251.6M | $78.7M |
毛利率CPAYRUSHA
| Q1 26 | — | 20.4% | ||
| Q4 25 | — | 20.8% | ||
| Q3 25 | — | 21.0% | ||
| Q2 25 | — | 20.7% | ||
| Q1 25 | — | 20.3% | ||
| Q4 24 | — | 19.3% | ||
| Q3 24 | — | 21.0% | ||
| Q2 24 | — | 20.2% |
营业利润率CPAYRUSHA
| Q1 26 | — | 4.9% | ||
| Q4 25 | 45.2% | 5.5% | ||
| Q3 25 | 44.6% | 5.6% | ||
| Q2 25 | 43.5% | 6.0% | ||
| Q1 25 | 42.5% | 5.2% | ||
| Q4 24 | 47.2% | 5.8% | ||
| Q3 24 | 45.5% | 6.7% | ||
| Q2 24 | 44.4% | 6.4% |
净利率CPAYRUSHA
| Q1 26 | — | 3.7% | ||
| Q4 25 | 21.2% | 3.8% | ||
| Q3 25 | 23.7% | 3.7% | ||
| Q2 25 | 25.8% | 3.9% | ||
| Q1 25 | 24.2% | 3.4% | ||
| Q4 24 | 23.8% | 3.9% | ||
| Q3 24 | 26.9% | 4.4% | ||
| Q2 24 | 25.8% | 4.1% |
每股收益（稀释后）CPAYRUSHA
| Q1 26 | — | $0.77 | ||
| Q4 25 | $3.74 | $0.81 | ||
| Q3 25 | $3.91 | $0.83 | ||
| Q2 25 | $3.98 | $0.90 | ||
| Q1 25 | $3.40 | $0.73 | ||
| Q4 24 | $3.43 | $-95.13 | ||
| Q3 24 | $3.90 | $0.97 | ||
| Q2 24 | $3.52 | $97.00 |
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 | — |
| 总债务越低越好 | $10.0B | $277.8M |
| 股东权益账面价值 | $3.9B | $2.3B |
| 总资产 | $26.4B | $4.5B |
| 负债/权益比越低杠杆越低 | 2.58× | 0.12× |
8季度趋势，按日历期对齐
现金及短期投资CPAYRUSHA
| Q1 26 | — | — | ||
| Q4 25 | $2.4B | $212.6M | ||
| Q3 25 | $2.0B | $242.0M | ||
| Q2 25 | $2.2B | $211.1M | ||
| Q1 25 | $1.6B | $228.7M | ||
| Q4 24 | $1.6B | $228.1M | ||
| Q3 24 | $1.3B | $185.1M | ||
| Q2 24 | $1.4B | $167.3M |
总债务CPAYRUSHA
| Q1 26 | — | $277.8M | ||
| Q4 25 | $10.0B | $274.8M | ||
| Q3 25 | $8.1B | — | ||
| Q2 25 | $8.1B | — | ||
| Q1 25 | $8.2B | — | ||
| Q4 24 | $8.0B | $408.4M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益CPAYRUSHA
| Q1 26 | — | $2.3B | ||
| Q4 25 | $3.9B | $2.2B | ||
| Q3 25 | $4.1B | $2.2B | ||
| Q2 25 | $3.9B | $2.2B | ||
| Q1 25 | $3.5B | $2.2B | ||
| Q4 24 | $3.1B | $2.1B | ||
| Q3 24 | $3.1B | $2.1B | ||
| Q2 24 | $2.8B | $2.0B |
总资产CPAYRUSHA
| Q1 26 | — | $4.5B | ||
| Q4 25 | $26.4B | $4.4B | ||
| Q3 25 | $19.7B | $4.6B | ||
| Q2 25 | $20.4B | $4.7B | ||
| Q1 25 | $18.5B | $4.7B | ||
| Q4 24 | $18.0B | $4.6B | ||
| Q3 24 | $17.6B | $4.6B | ||
| Q2 24 | $16.2B | $4.5B |
负债/权益比CPAYRUSHA
| Q1 26 | — | 0.12× | ||
| Q4 25 | 2.58× | 0.12× | ||
| Q3 25 | 1.99× | — | ||
| Q2 25 | 2.07× | — | ||
| Q1 25 | 2.37× | — | ||
| Q4 24 | 2.56× | 0.19× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $760.3M | $411.6M |
| 自由现金流率自由现金流/营收 | 60.9% | 24.4% |
| 资本支出强度资本支出/营收 | 4.2% | 2.0% |
| 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 | $828.4M |
8季度趋势，按日历期对齐
经营现金流CPAYRUSHA
| Q1 26 | — | — | ||
| Q4 25 | $812.7M | $112.9M | ||
| Q3 25 | $-378.9M | $367.8M | ||
| Q2 25 | $1.1B | $227.6M | ||
| Q1 25 | $-74.2M | $153.5M | ||
| Q4 24 | $648.7M | $392.3M | ||
| Q3 24 | $400.8M | $111.7M | ||
| Q2 24 | $540.9M | $270.6M |
自由现金流CPAYRUSHA
| Q1 26 | — | $411.6M | ||
| Q4 25 | $760.3M | $31.9M | ||
| Q3 25 | $-429.8M | $271.2M | ||
| Q2 25 | $1.1B | $113.8M | ||
| Q1 25 | $-118.9M | $45.1M | ||
| Q4 24 | $604.6M | $263.5M | ||
| Q3 24 | $355.0M | $-20.0M | ||
| Q2 24 | $496.8M | $177.2M |
自由现金流率CPAYRUSHA
| Q1 26 | — | 24.4% | ||
| Q4 25 | 60.9% | 1.9% | ||
| Q3 25 | -36.7% | 15.2% | ||
| Q2 25 | 98.7% | 6.2% | ||
| Q1 25 | -11.8% | 2.6% | ||
| Q4 24 | 58.4% | 13.7% | ||
| Q3 24 | 34.5% | -1.1% | ||
| Q2 24 | 50.9% | 9.1% |
资本支出强度CPAYRUSHA
| Q1 26 | — | 2.0% | ||
| Q4 25 | 4.2% | 4.8% | ||
| Q3 25 | 4.3% | 5.4% | ||
| Q2 25 | 4.8% | 6.2% | ||
| Q1 25 | 4.5% | 6.2% | ||
| Q4 24 | 4.3% | 6.7% | ||
| Q3 24 | 4.4% | 7.3% | ||
| Q2 24 | 4.5% | 4.8% |
现金转化率CPAYRUSHA
| Q1 26 | — | — | ||
| Q4 25 | 3.07× | 1.75× | ||
| Q3 25 | -1.36× | 5.51× | ||
| Q2 25 | 4.01× | 3.14× | ||
| Q1 25 | -0.30× | 2.55× | ||
| Q4 24 | 2.64× | 5.25× | ||
| Q3 24 | 1.45× | 1.41× | ||
| Q2 24 | 2.15× | 3.44× |
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% |
RUSHA
| New and used commercial vehicle sales | $955.1M | 57% |
| Aftermarket products and services sales | $627.2M | 37% |
| Lease and rental sales | $92.3M | 5% |
| Finance and insurance | $5.6M | 0% |
