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Corpay（CPAY）与RXO, Inc.（RXO）财务数据对比。点击上方公司名可切换其他公司
RXO, Inc.的季度营收约是Corpay的1.2倍（$1.5B vs $1.2B），Corpay净利率更高（21.2% vs -3.1%，领先24.3%），Corpay同比增速更快（20.7% vs -11.9%），Corpay自由现金流更多（$760.3M vs $-9.0M），过去两年RXO, Inc.的营收复合增速更高（26.8% vs 15.5%）
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。
RXO是总部位于美国的头部运输及物流解决方案供应商，核心业务覆盖货运经纪、大件商品最后一公里配送、运输管理服务与全链路供应链优化支持，主要服务北美制造业、零售业及电商领域的客户。
CPAY vs RXO — 直观对比
营收规模更大
RXO
是对方的1.2倍
$1.2B
营收增速更快
CPAY
高出32.5%
-11.9%
净利率更高
CPAY
高出24.3%
-3.1%
自由现金流更多
CPAY
多$769.3M
$-9.0M
两年增速更快
RXO
近两年复合增速
15.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.5B |
| 净利润 | $264.5M | $-46.0M |
| 毛利率 | — | — |
| 营业利润率 | 45.2% | -2.9% |
| 净利率 | 21.2% | -3.1% |
| 营收同比 | 20.7% | -11.9% |
| 净利润同比 | 7.5% | -84.0% |
| 每股收益（稀释后） | $3.74 | $-0.28 |
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CPAYRXO
| Q4 25 | $1.2B | $1.5B | ||
| Q3 25 | $1.2B | $1.4B | ||
| Q2 25 | $1.1B | $1.4B | ||
| Q1 25 | $1.0B | $1.4B | ||
| Q4 24 | $1.0B | $1.7B | ||
| Q3 24 | $1.0B | $1.0B | ||
| Q2 24 | $975.7M | $930.0M | ||
| Q1 24 | $935.3M | $913.0M |
净利润CPAYRXO
| Q4 25 | $264.5M | $-46.0M | ||
| Q3 25 | $277.9M | $-14.0M | ||
| Q2 25 | $284.2M | $-9.0M | ||
| Q1 25 | $243.2M | $-31.0M | ||
| Q4 24 | $246.0M | $-25.0M | ||
| Q3 24 | $276.4M | $-243.0M | ||
| Q2 24 | $251.6M | $-7.0M | ||
| Q1 24 | $229.8M | $-15.0M |
营业利润率CPAYRXO
| Q4 25 | 45.2% | -2.9% | ||
| Q3 25 | 44.6% | -0.5% | ||
| Q2 25 | 43.5% | — | ||
| Q1 25 | 42.5% | -2.1% | ||
| Q4 24 | 47.2% | -1.4% | ||
| Q3 24 | 45.5% | -1.9% | ||
| Q2 24 | 44.4% | — | ||
| Q1 24 | 42.5% | -1.3% |
净利率CPAYRXO
| Q4 25 | 21.2% | -3.1% | ||
| Q3 25 | 23.7% | -1.0% | ||
| Q2 25 | 25.8% | -0.6% | ||
| Q1 25 | 24.2% | -2.2% | ||
| Q4 24 | 23.8% | -1.5% | ||
| Q3 24 | 26.9% | -23.4% | ||
| Q2 24 | 25.8% | -0.8% | ||
| Q1 24 | 24.6% | -1.6% |
每股收益（稀释后）CPAYRXO
| Q4 25 | $3.74 | $-0.28 | ||
| Q3 25 | $3.91 | $-0.08 | ||
| Q2 25 | $3.98 | $-0.05 | ||
| Q1 25 | $3.40 | $-0.18 | ||
| Q4 24 | $3.43 | $-0.17 | ||
| Q3 24 | $3.90 | $-1.81 | ||
| Q2 24 | $3.52 | $-0.06 | ||
| Q1 24 | $3.12 | $-0.13 |
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 | $17.0M |
| 总债务越低越好 | $10.0B | $387.0M |
| 股东权益账面价值 | $3.9B | $1.5B |
| 总资产 | $26.4B | $3.3B |
| 负债/权益比越低杠杆越低 | 2.58× | 0.25× |
8季度趋势，按日历期对齐
现金及短期投资CPAYRXO
| Q4 25 | $2.4B | $17.0M | ||
| Q3 25 | $2.0B | $25.0M | ||
| Q2 25 | $2.2B | $18.0M | ||
| Q1 25 | $1.6B | $16.0M | ||
| Q4 24 | $1.6B | $35.0M | ||
| Q3 24 | $1.3B | $55.0M | ||
| Q2 24 | $1.4B | $7.0M | ||
| Q1 24 | $1.3B | $7.0M |
总债务CPAYRXO
| Q4 25 | $10.0B | $387.0M | ||
| Q3 25 | $8.1B | $387.0M | ||
| Q2 25 | $8.1B | $387.0M | ||
| Q1 25 | $8.2B | $387.0M | ||
| Q4 24 | $8.0B | $351.0M | ||
| Q3 24 | — | $352.0M | ||
| Q2 24 | — | $370.0M | ||
| Q1 24 | — | $351.0M |
股东权益CPAYRXO
| Q4 25 | $3.9B | $1.5B | ||
| Q3 25 | $4.1B | $1.6B | ||
| Q2 25 | $3.9B | $1.6B | ||
| Q1 25 | $3.5B | $1.6B | ||
| Q4 24 | $3.1B | $1.6B | ||
| Q3 24 | $3.1B | $1.7B | ||
| Q2 24 | $2.8B | $579.0M | ||
| Q1 24 | $3.3B | $582.0M |
总资产CPAYRXO
| Q4 25 | $26.4B | $3.3B | ||
| Q3 25 | $19.7B | $3.2B | ||
| Q2 25 | $20.4B | $3.2B | ||
| Q1 25 | $18.5B | $3.3B | ||
| Q4 24 | $18.0B | $3.4B | ||
| Q3 24 | $17.6B | $3.4B | ||
| Q2 24 | $16.2B | $1.8B | ||
| Q1 24 | $15.8B | $1.8B |
负债/权益比CPAYRXO
| Q4 25 | 2.58× | 0.25× | ||
| Q3 25 | 1.99× | 0.24× | ||
| Q2 25 | 2.07× | 0.24× | ||
| Q1 25 | 2.37× | 0.24× | ||
| Q4 24 | 2.56× | 0.22× | ||
| Q3 24 | — | 0.21× | ||
| Q2 24 | — | 0.64× | ||
| Q1 24 | — | 0.60× |
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 | $812.7M | $7.0M |
| 自由现金流经营现金流 - 资本支出 | $760.3M | $-9.0M |
| 自由现金流率自由现金流/营收 | 60.9% | -0.6% |
| 资本支出强度资本支出/营收 | 4.2% | 1.1% |
| 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 | $-8.0M |
8季度趋势，按日历期对齐
经营现金流CPAYRXO
| Q4 25 | $812.7M | $7.0M | ||
| Q3 25 | $-378.9M | $23.0M | ||
| Q2 25 | $1.1B | $23.0M | ||
| Q1 25 | $-74.2M | $-2.0M | ||
| Q4 24 | $648.7M | $-7.0M | ||
| Q3 24 | $400.8M | $-7.0M | ||
| Q2 24 | $540.9M | $-5.0M | ||
| Q1 24 | $350.2M | $7.0M |
自由现金流CPAYRXO
| Q4 25 | $760.3M | $-9.0M | ||
| Q3 25 | $-429.8M | $9.0M | ||
| Q2 25 | $1.1B | $9.0M | ||
| Q1 25 | $-118.9M | $-17.0M | ||
| Q4 24 | $604.6M | $-19.0M | ||
| Q3 24 | $355.0M | $-18.0M | ||
| Q2 24 | $496.8M | $-16.0M | ||
| Q1 24 | $309.0M | $-4.0M |
自由现金流率CPAYRXO
| Q4 25 | 60.9% | -0.6% | ||
| Q3 25 | -36.7% | 0.6% | ||
| Q2 25 | 98.7% | 0.6% | ||
| Q1 25 | -11.8% | -1.2% | ||
| Q4 24 | 58.4% | -1.1% | ||
| Q3 24 | 34.5% | -1.7% | ||
| Q2 24 | 50.9% | -1.7% | ||
| Q1 24 | 33.0% | -0.4% |
资本支出强度CPAYRXO
| Q4 25 | 4.2% | 1.1% | ||
| Q3 25 | 4.3% | 1.0% | ||
| Q2 25 | 4.8% | 1.0% | ||
| Q1 25 | 4.5% | 1.0% | ||
| Q4 24 | 4.3% | 0.7% | ||
| Q3 24 | 4.4% | 1.1% | ||
| Q2 24 | 4.5% | 1.2% | ||
| Q1 24 | 4.4% | 1.2% |
现金转化率CPAYRXO
| 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% |
RXO
| Retail Sector | $546.0M | 37% |
| Last Mile | $298.0M | 20% |
| Food And Beverage Sector | $225.0M | 15% |
| Other Sector | $185.0M | 13% |
| Managed Transportation | $133.0M | 9% |
| Automotive Sector | $93.0M | 6% |
