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查尔斯河实验室（CRL）与SPIRE INC（SR）财务数据对比。点击上方公司名可切换其他公司
查尔斯河实验室的季度营收约是SPIRE INC的1.3倍（$994.2M vs $762.2M），SPIRE INC净利率更高（12.5% vs -27.8%，领先40.3%），SPIRE INC同比增速更快（13.9% vs -0.8%），查尔斯河实验室自由现金流更多（$58.6M vs $-121.8M），过去两年查尔斯河实验室的营收复合增速更高（-0.9% vs -17.8%）
查尔斯河实验室国际是总部位于美国马萨诸塞州威尔明顿的医药及生物技术领域合同研究组织（CRO），成立于1947年，可为新药、疫苗及医疗器械的研发提供临床前和临床阶段的专业实验室服务。
Spire Inc是总部位于美国密苏里州圣路易斯的区域公用事业控股公司，核心业务为受监管的天然气供应服务，同时布局非监管类业务拓展商业机会。旗下主要子公司Laclede Gas Company是密苏里州最大的天然气分销公用事业企业，为圣路易斯市及密苏里州东部10个县的约63.1万户住宅、商业及工业客户提供服务。
CRL vs SR — 直观对比
营收规模更大
CRL
是对方的1.3倍
$762.2M
营收增速更快
SR
高出14.7%
-0.8%
净利率更高
SR
高出40.3%
-27.8%
自由现金流更多
CRL
多$180.4M
$-121.8M
两年增速更快
CRL
近两年复合增速
-17.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $994.2M | $762.2M |
| 净利润 | $-276.6M | $95.0M |
| 毛利率 | — | 55.1% |
| 营业利润率 | -28.5% | 22.8% |
| 净利率 | -27.8% | 12.5% |
| 营收同比 | -0.8% | 13.9% |
| 净利润同比 | -28.9% | 16.9% |
| 每股收益（稀释后） | $-5.57 | $1.54 |
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CRLSR
| Q4 25 | $994.2M | $762.2M | ||
| Q3 25 | $1.0B | $334.1M | ||
| Q2 25 | $1.0B | $421.9M | ||
| Q1 25 | $984.2M | $1.1B | ||
| Q4 24 | $1.0B | $669.1M | ||
| Q3 24 | $1.0B | $293.8M | ||
| Q2 24 | $1.0B | $414.1M | ||
| Q1 24 | $1.0B | $1.1B |
净利润CRLSR
| Q4 25 | $-276.6M | $95.0M | ||
| Q3 25 | $54.4M | $-39.8M | ||
| Q2 25 | $52.3M | $20.9M | ||
| Q1 25 | $25.5M | $209.3M | ||
| Q4 24 | $-214.5M | $81.3M | ||
| Q3 24 | $69.7M | $-25.9M | ||
| Q2 24 | $94.1M | $-12.6M | ||
| Q1 24 | $73.0M | $204.3M |
毛利率CRLSR
| Q4 25 | — | 55.1% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 55.6% | ||
| Q3 24 | 34.6% | — | ||
| Q2 24 | 34.5% | — | ||
| Q1 24 | 34.1% | — |
营业利润率CRLSR
| Q4 25 | -28.5% | 22.8% | ||
| Q3 25 | 13.3% | -0.1% | ||
| Q2 25 | 9.7% | 16.4% | ||
| Q1 25 | 7.6% | 29.1% | ||
| Q4 24 | -16.7% | 22.2% | ||
| Q3 24 | 11.6% | 6.7% | ||
| Q2 24 | 14.8% | 7.4% | ||
| Q1 24 | 12.5% | 26.5% |
净利率CRLSR
| Q4 25 | -27.8% | 12.5% | ||
| Q3 25 | 5.4% | -11.9% | ||
| Q2 25 | 5.1% | 5.0% | ||
| Q1 25 | 2.6% | 19.9% | ||
| Q4 24 | -21.4% | 12.2% | ||
| Q3 24 | 6.9% | -8.8% | ||
| Q2 24 | 9.2% | -3.0% | ||
| Q1 24 | 7.2% | 18.1% |
每股收益（稀释后）CRLSR
| Q4 25 | $-5.57 | $1.54 | ||
| Q3 25 | $1.10 | $-0.77 | ||
| Q2 25 | $1.06 | $0.29 | ||
| Q1 25 | $0.50 | $3.51 | ||
| Q4 24 | $-4.17 | $1.34 | ||
| Q3 24 | $1.33 | $-0.63 | ||
| Q2 24 | $1.74 | $-0.28 | ||
| Q1 24 | $1.30 | $3.58 |
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 | $213.8M | $4.1M |
| 总债务越低越好 | $2.1B | — |
| 股东权益账面价值 | $3.2B | $3.4B |
| 总资产 | $7.1B | $11.9B |
| 负债/权益比越低杠杆越低 | 0.68× | — |
8季度趋势，按日历期对齐
现金及短期投资CRLSR
| Q4 25 | $213.8M | $4.1M | ||
| Q3 25 | $207.1M | $5.7M | ||
| Q2 25 | $182.8M | $13.1M | ||
| Q1 25 | $229.4M | $15.2M | ||
| Q4 24 | $194.6M | $11.5M | ||
| Q3 24 | $210.2M | $4.5M | ||
| Q2 24 | $179.2M | $7.4M | ||
| Q1 24 | $327.0M | $25.6M |
总债务CRLSR
| Q4 25 | $2.1B | — | ||
| Q3 25 | $2.2B | — | ||
| Q2 25 | $2.3B | — | ||
| Q1 25 | $2.5B | — | ||
| Q4 24 | $2.2B | — | ||
| Q3 24 | $2.3B | — | ||
| Q2 24 | $2.4B | — | ||
| Q1 24 | $2.7B | — |
股东权益CRLSR
| Q4 25 | $3.2B | $3.4B | ||
| Q3 25 | $3.4B | $3.4B | ||
| Q2 25 | $3.4B | $3.5B | ||
| Q1 25 | $3.2B | $3.5B | ||
| Q4 24 | $3.5B | $3.3B | ||
| Q3 24 | $3.8B | $3.2B | ||
| Q2 24 | $3.7B | $3.3B | ||
| Q1 24 | $3.6B | $3.4B |
总资产CRLSR
| Q4 25 | $7.1B | $11.9B | ||
| Q3 25 | $7.5B | $11.6B | ||
| Q2 25 | $7.6B | $11.4B | ||
| Q1 25 | $7.6B | $11.3B | ||
| Q4 24 | $7.5B | $11.3B | ||
| Q3 24 | $8.0B | $10.9B | ||
| Q2 24 | $7.9B | $10.7B | ||
| Q1 24 | $8.2B | $10.7B |
负债/权益比CRLSR
| Q4 25 | 0.68× | — | ||
| Q3 25 | 0.64× | — | ||
| Q2 25 | 0.70× | — | ||
| Q1 25 | 0.79× | — | ||
| Q4 24 | 0.65× | — | ||
| Q3 24 | 0.62× | — | ||
| Q2 24 | 0.65× | — | ||
| Q1 24 | 0.73× | — |
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 | $147.5M | $81.0M |
| 自由现金流经营现金流 - 资本支出 | $58.6M | $-121.8M |
| 自由现金流率自由现金流/营收 | 5.9% | -16.0% |
| 资本支出强度资本支出/营收 | 8.9% | 26.6% |
| 现金转化率经营现金流/净利润 | — | 0.85× |
| 过去12个月自由现金流最近4个季度 | $518.5M | $-286.7M |
8季度趋势，按日历期对齐
经营现金流CRLSR
| Q4 25 | $147.5M | $81.0M | ||
| Q3 25 | $213.8M | $-4.9M | ||
| Q2 25 | $204.6M | $129.1M | ||
| Q1 25 | $171.7M | $372.7M | ||
| Q4 24 | $159.4M | $81.1M | ||
| Q3 24 | $251.8M | $82.9M | ||
| Q2 24 | $193.5M | $270.1M | ||
| Q1 24 | $129.9M | $489.4M |
自由现金流CRLSR
| Q4 25 | $58.6M | $-121.8M | ||
| Q3 25 | $178.2M | $-227.6M | ||
| Q2 25 | $169.3M | $-91.4M | ||
| Q1 25 | $112.4M | $154.1M | ||
| Q4 24 | $83.7M | $-179.5M | ||
| Q3 24 | $213.1M | $-146.9M | ||
| Q2 24 | $154.0M | $47.9M | ||
| Q1 24 | $50.7M | $306.6M |
自由现金流率CRLSR
| Q4 25 | 5.9% | -16.0% | ||
| Q3 25 | 17.7% | -68.1% | ||
| Q2 25 | 16.4% | -21.7% | ||
| Q1 25 | 11.4% | 14.7% | ||
| Q4 24 | 8.4% | -26.8% | ||
| Q3 24 | 21.1% | -50.0% | ||
| Q2 24 | 15.0% | 11.6% | ||
| Q1 24 | 5.0% | 27.2% |
资本支出强度CRLSR
| Q4 25 | 8.9% | 26.6% | ||
| Q3 25 | 3.5% | 66.7% | ||
| Q2 25 | 3.4% | 52.3% | ||
| Q1 25 | 6.0% | 20.8% | ||
| Q4 24 | 7.5% | 38.9% | ||
| Q3 24 | 3.8% | 78.2% | ||
| Q2 24 | 3.8% | 53.7% | ||
| Q1 24 | 7.8% | 16.2% |
现金转化率CRLSR
| Q4 25 | — | 0.85× | ||
| Q3 25 | 3.93× | — | ||
| Q2 25 | 3.91× | 6.18× | ||
| Q1 25 | 6.74× | 1.78× | ||
| Q4 24 | — | 1.00× | ||
| Q3 24 | 3.61× | — | ||
| Q2 24 | 2.06× | — | ||
| Q1 24 | 1.78× | 2.40× |
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
CRL
| Discovery And Safety Assessment Segment | $591.6M | 60% |
| Manufacturing Support Segment | $196.4M | 20% |
| Transferred At Point In Time | $108.0M | 11% |
| Transferred Over Time | $98.3M | 10% |
SR
| Residential | $474.9M | 62% |
| Commercial And Industrial | $148.4M | 19% |
| Gas Marketing | $41.1M | 5% |
| Midstream | $39.0M | 5% |
| Transportation | $37.1M | 5% |
| Offsystem And Other Inventive | $19.7M | 3% |
| Other Customer Revenue | $4.6M | 1% |
