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酷澎（CPNG）与Smurfit Westrock（SW）财务数据对比。点击上方公司名可切换其他公司
酷澎的季度营收约是Smurfit Westrock的1.1倍（$8.5B vs $7.7B），酷澎同比增速更快（7.5% vs 0.7%），过去两年Smurfit Westrock的营收复合增速更高（61.2% vs 7.8%）
酷澎（Coupang, Inc.）是2010年由金范锡创立的科技与线上零售企业，注册地为美国特拉华州，总部设于华盛顿州西雅图。公司核心业务覆盖电商零售、食品配送及OTT流媒体服务，业务布局及办公网点遍及韩国、中国台湾、美国、印度、日本、新加坡等多个国家和地区。
Smurfit Westrock plc是总部位于爱尔兰都柏林的企业，核心业务为生产瓦楞包装及各类纸制包装产品，公司股票同时在纽约证券交易所和伦敦证券交易所挂牌上市。
CPNG vs SW — 直观对比
营收规模更大
CPNG
是对方的1.1倍
$7.7B
营收增速更快
CPNG
高出6.8%
0.7%
两年增速更快
SW
近两年复合增速
7.8%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $8.5B | $7.7B |
| 净利润 | — | $63.0M |
| 毛利率 | 27.0% | 16.4% |
| 营业利润率 | — | 3.3% |
| 净利率 | — | 0.8% |
| 营收同比 | 7.5% | 0.7% |
| 净利润同比 | — | — |
| 每股收益（稀释后） | $-0.15 | $0.12 |
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CPNGSW
| Q1 26 | $8.5B | $7.7B | ||
| Q4 25 | $8.8B | $7.6B | ||
| Q3 25 | $9.3B | $8.0B | ||
| Q2 25 | $8.5B | $7.9B | ||
| Q1 25 | $7.9B | $7.7B | ||
| Q4 24 | $8.0B | $7.5B | ||
| Q3 24 | $7.9B | $7.7B | ||
| Q2 24 | $7.3B | $3.0B |
净利润CPNGSW
| Q1 26 | — | $63.0M | ||
| Q4 25 | $-26.0M | $97.0M | ||
| Q3 25 | $95.0M | $246.0M | ||
| Q2 25 | $32.0M | $-28.0M | ||
| Q1 25 | $107.0M | $384.0M | ||
| Q4 24 | $156.0M | $146.0M | ||
| Q3 24 | $70.0M | $-150.0M | ||
| Q2 24 | $-77.0M | $132.0M |
毛利率CPNGSW
| Q1 26 | 27.0% | 16.4% | ||
| Q4 25 | 28.8% | 18.2% | ||
| Q3 25 | 29.4% | 19.6% | ||
| Q2 25 | 30.0% | 19.1% | ||
| Q1 25 | 29.3% | 20.6% | ||
| Q4 24 | 31.3% | 19.1% | ||
| Q3 24 | 28.8% | 17.6% | ||
| Q2 24 | 29.3% | 23.3% |
营业利润率CPNGSW
| Q1 26 | — | 3.3% | ||
| Q4 25 | 0.1% | 5.1% | ||
| Q3 25 | 1.7% | 6.6% | ||
| Q2 25 | 1.7% | 3.2% | ||
| Q1 25 | 1.9% | 7.2% | ||
| Q4 24 | 3.9% | 5.3% | ||
| Q3 24 | 1.4% | 0.7% | ||
| Q2 24 | -0.3% | 8.2% |
净利率CPNGSW
| Q1 26 | — | 0.8% | ||
| Q4 25 | -0.3% | 1.3% | ||
| Q3 25 | 1.0% | 3.1% | ||
| Q2 25 | 0.4% | -0.4% | ||
| Q1 25 | 1.4% | 5.0% | ||
| Q4 24 | 2.0% | 1.9% | ||
| Q3 24 | 0.9% | -2.0% | ||
| Q2 24 | -1.1% | 4.4% |
每股收益（稀释后）CPNGSW
| Q1 26 | $-0.15 | $0.12 | ||
| Q4 25 | $-0.02 | $0.18 | ||
| Q3 25 | $0.05 | $0.47 | ||
| Q2 25 | $0.02 | $-0.05 | ||
| Q1 25 | $0.06 | $0.73 | ||
| Q4 24 | $0.08 | $-0.12 | ||
| Q3 24 | $0.04 | $-0.30 | ||
| Q2 24 | $-0.04 | $0.51 |
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 | $6.3B | — |
| 总债务越低越好 | $2.3B | $980.0M |
| 股东权益账面价值 | $3.9B | $18.1B |
| 总资产 | $17.4B | $45.2B |
| 负债/权益比越低杠杆越低 | 0.58× | 0.05× |
8季度趋势，按日历期对齐
现金及短期投资CPNGSW
| Q1 26 | $6.3B | — | ||
| Q4 25 | $6.3B | $892.0M | ||
| Q3 25 | $7.2B | $851.0M | ||
| Q2 25 | $6.8B | $778.0M | ||
| Q1 25 | $6.1B | $797.0M | ||
| Q4 24 | $5.9B | $855.0M | ||
| Q3 24 | $5.8B | — | ||
| Q2 24 | $5.5B | $26.8K |
总债务CPNGSW
| Q1 26 | $2.3B | $980.0M | ||
| Q4 25 | $648.0M | $13.4B | ||
| Q3 25 | — | $13.3B | ||
| Q2 25 | — | $13.3B | ||
| Q1 25 | — | $12.9B | ||
| Q4 24 | $988.0M | $12.5B | ||
| Q3 24 | — | $13.2B | ||
| Q2 24 | — | — |
股东权益CPNGSW
| Q1 26 | $3.9B | $18.1B | ||
| Q4 25 | $4.6B | $18.3B | ||
| Q3 25 | $4.7B | $18.4B | ||
| Q2 25 | $4.7B | $18.3B | ||
| Q1 25 | $4.4B | $17.9B | ||
| Q4 24 | $4.1B | $17.4B | ||
| Q3 24 | $4.2B | $18.0B | ||
| Q2 24 | $3.9B | $14.5K |
总资产CPNGSW
| Q1 26 | $17.4B | $45.2B | ||
| Q4 25 | $17.8B | $45.2B | ||
| Q3 25 | $18.7B | $45.6B | ||
| Q2 25 | $17.8B | $45.7B | ||
| Q1 25 | $16.0B | $44.6B | ||
| Q4 24 | $15.3B | $43.8B | ||
| Q3 24 | $16.3B | $45.0B | ||
| Q2 24 | $15.2B | $26.8K |
负债/权益比CPNGSW
| Q1 26 | 0.58× | 0.05× | ||
| Q4 25 | 0.14× | 0.73× | ||
| Q3 25 | — | 0.72× | ||
| Q2 25 | — | 0.73× | ||
| Q1 25 | — | 0.72× | ||
| Q4 24 | 0.24× | 0.72× | ||
| Q3 24 | — | 0.73× | ||
| 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 | $184.0M | $204.0M |
| 自由现金流经营现金流 - 资本支出 | $-110.0M | — |
| 自由现金流率自由现金流/营收 | -1.3% | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | — | 3.24× |
| 过去12个月自由现金流最近4个季度 | $297.0M | — |
8季度趋势，按日历期对齐
经营现金流CPNGSW
| Q1 26 | $184.0M | $204.0M | ||
| Q4 25 | $82.0M | $1.2B | ||
| Q3 25 | $792.0M | $1.1B | ||
| Q2 25 | $545.0M | $829.0M | ||
| Q1 25 | $354.0M | $235.0M | ||
| Q4 24 | $676.0M | $781.0M | ||
| Q3 24 | $334.0M | $320.0M | ||
| Q2 24 | $664.0M | $340.0M |
自由现金流CPNGSW
| Q1 26 | $-110.0M | — | ||
| Q4 25 | $-278.0M | $612.0M | ||
| Q3 25 | $439.0M | $523.0M | ||
| Q2 25 | $246.0M | $307.0M | ||
| Q1 25 | $115.0M | $-242.0M | ||
| Q4 24 | $462.0M | $212.0M | ||
| Q3 24 | $-46.0M | $-192.0M | ||
| Q2 24 | $486.0M | $163.0M |
自由现金流率CPNGSW
| Q1 26 | -1.3% | — | ||
| Q4 25 | -3.1% | 8.1% | ||
| Q3 25 | 4.7% | 6.5% | ||
| Q2 25 | 2.9% | 3.9% | ||
| Q1 25 | 1.5% | -3.2% | ||
| Q4 24 | 5.8% | 2.8% | ||
| Q3 24 | -0.6% | -2.5% | ||
| Q2 24 | 6.6% | 5.5% |
资本支出强度CPNGSW
| Q1 26 | — | — | ||
| Q4 25 | 4.1% | 7.7% | ||
| Q3 25 | 3.8% | 7.6% | ||
| Q2 25 | 3.5% | 6.6% | ||
| Q1 25 | 3.0% | 6.2% | ||
| Q4 24 | 2.7% | 7.5% | ||
| Q3 24 | 4.8% | 6.7% | ||
| Q2 24 | 2.4% | 6.0% |
现金转化率CPNGSW
| Q1 26 | — | 3.24× | ||
| Q4 25 | — | 12.32× | ||
| Q3 25 | 8.34× | 4.61× | ||
| Q2 25 | 17.03× | — | ||
| Q1 25 | 3.31× | 0.61× | ||
| Q4 24 | 4.33× | 5.35× | ||
| Q3 24 | 4.77× | — | ||
| Q2 24 | — | 2.58× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
