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CONSTELLIUM SE（CSTM）与皇家加勒比集团（RCL）财务数据对比。点击上方公司名可切换其他公司
皇家加勒比集团的季度营收约是CONSTELLIUM SE的1.9倍（$4.3B vs $2.2B），皇家加勒比集团净利率更高（17.7% vs 5.1%，领先12.6%），皇家加勒比集团自由现金流更多（$116.0M vs $109.0M）
康士励（Constellium SE）是一家源自美瑞、总部位于法国的全球铝制品制造商，主营各类先进合金制成的铝轧制产品、挤压材及结构件，旗下C-TEC研发中心在先进铝合金技术研发领域成果斐然，核心服务航空航天、汽车、包装三大领域，客户涵盖梅赛德斯-奔驰、奥迪、宝马、福特、空客、波音等知名企业。
皇家加勒比集团前身为皇家加勒比邮轮有限公司，是仅次于嘉年华公司的全球第二大邮轮运营商。集团总部位于美国佛罗里达州迈阿密，在利比里亚注册，目前全资拥有皇家加勒比国际游轮、名人邮轮、银海邮轮三大品牌，还持有途易邮轮50%的股份。
CSTM vs RCL — 直观对比
营收规模更大
RCL
是对方的1.9倍
$2.2B
净利率更高
RCL
高出12.6%
5.1%
自由现金流更多
RCL
多$7.0M
$109.0M
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.2B | $4.3B |
| 净利润 | $112.0M | $753.0M |
| 毛利率 | — | 47.4% |
| 营业利润率 | 7.5% | 21.9% |
| 净利率 | 5.1% | 17.7% |
| 营收同比 | — | 13.3% |
| 净利润同比 | — | 36.4% |
| 每股收益（稀释后） | $0.79 | $2.76 |
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CSTMRCL
| Q4 25 | $2.2B | $4.3B | ||
| Q3 25 | $2.2B | $5.1B | ||
| Q2 25 | $2.1B | $4.5B | ||
| Q1 25 | $2.0B | $4.0B | ||
| Q4 24 | — | $3.8B | ||
| Q3 24 | — | $4.9B | ||
| Q2 24 | $1.9B | $4.1B | ||
| Q1 24 | — | $3.7B |
净利润CSTMRCL
| Q4 25 | $112.0M | $753.0M | ||
| Q3 25 | $88.0M | $1.6B | ||
| Q2 25 | $36.0M | $1.2B | ||
| Q1 25 | $37.0M | $730.0M | ||
| Q4 24 | — | $552.0M | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | $76.0M | $854.0M | ||
| Q1 24 | — | $360.0M |
毛利率CSTMRCL
| Q4 25 | — | 47.4% | ||
| Q3 25 | — | 51.8% | ||
| Q2 25 | — | 49.7% | ||
| Q1 25 | — | 48.0% | ||
| Q4 24 | — | 45.4% | ||
| Q3 24 | — | 51.1% | ||
| Q2 24 | — | 47.6% | ||
| Q1 24 | — | 44.8% |
营业利润率CSTMRCL
| Q4 25 | 7.5% | 21.9% | ||
| Q3 25 | 5.8% | 33.1% | ||
| Q2 25 | 2.7% | 29.3% | ||
| Q1 25 | 3.1% | 23.6% | ||
| Q4 24 | — | 16.6% | ||
| Q3 24 | — | 33.4% | ||
| Q2 24 | 5.4% | 26.7% | ||
| Q1 24 | — | 20.1% |
净利率CSTMRCL
| Q4 25 | 5.1% | 17.7% | ||
| Q3 25 | 4.1% | 30.6% | ||
| Q2 25 | 1.7% | 26.7% | ||
| Q1 25 | 1.9% | 18.3% | ||
| Q4 24 | — | 14.7% | ||
| Q3 24 | — | 22.7% | ||
| Q2 24 | 3.9% | 20.8% | ||
| Q1 24 | — | 9.7% |
每股收益（稀释后）CSTMRCL
| Q4 25 | $0.79 | $2.76 | ||
| Q3 25 | $0.62 | $5.74 | ||
| Q2 25 | $0.25 | $4.41 | ||
| Q1 25 | $0.26 | $2.70 | ||
| Q4 24 | — | $2.27 | ||
| Q3 24 | — | $4.21 | ||
| Q2 24 | $0.51 | $3.11 | ||
| Q1 24 | — | $1.35 |
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 | $120.0M | $825.0M |
| 总债务越低越好 | $1.9B | $18.2B |
| 股东权益账面价值 | $952.0M | $10.0B |
| 总资产 | $5.4B | $41.6B |
| 负债/权益比越低杠杆越低 | 2.00× | 1.81× |
8季度趋势，按日历期对齐
现金及短期投资CSTMRCL
| Q4 25 | $120.0M | $825.0M | ||
| Q3 25 | $122.0M | $432.0M | ||
| Q2 25 | $133.0M | $735.0M | ||
| Q1 25 | $118.0M | $386.0M | ||
| Q4 24 | — | $388.0M | ||
| Q3 24 | — | $418.0M | ||
| Q2 24 | — | $391.0M | ||
| Q1 24 | — | $437.0M |
总债务CSTMRCL
| Q4 25 | $1.9B | $18.2B | ||
| Q3 25 | $2.0B | $17.2B | ||
| Q2 25 | $2.0B | $17.6B | ||
| Q1 25 | $1.9B | $18.0B | ||
| Q4 24 | — | $18.5B | ||
| Q3 24 | — | $19.0B | ||
| Q2 24 | — | $19.8B | ||
| Q1 24 | — | $18.9B |
股东权益CSTMRCL
| Q4 25 | $952.0M | $10.0B | ||
| Q3 25 | $845.0M | $10.1B | ||
| Q2 25 | $780.0M | $9.2B | ||
| Q1 25 | $745.0M | $8.0B | ||
| Q4 24 | — | $7.6B | ||
| Q3 24 | — | $7.0B | ||
| Q2 24 | $796.0M | $6.0B | ||
| Q1 24 | — | $5.2B |
总资产CSTMRCL
| Q4 25 | $5.4B | $41.6B | ||
| Q3 25 | $5.4B | $40.1B | ||
| Q2 25 | $5.4B | $38.5B | ||
| Q1 25 | $5.2B | $37.5B | ||
| Q4 24 | — | $37.1B | ||
| Q3 24 | — | $37.1B | ||
| Q2 24 | — | $37.0B | ||
| Q1 24 | — | $35.2B |
负债/权益比CSTMRCL
| Q4 25 | 2.00× | 1.81× | ||
| Q3 25 | 2.34× | 1.70× | ||
| Q2 25 | 2.53× | 1.92× | ||
| Q1 25 | 2.56× | 2.26× | ||
| Q4 24 | — | 2.44× | ||
| Q3 24 | — | 2.69× | ||
| Q2 24 | — | 3.29× | ||
| Q1 24 | — | 3.66× |
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 | $218.0M | $1.6B |
| 自由现金流经营现金流 - 资本支出 | $109.0M | $116.0M |
| 自由现金流率自由现金流/营收 | 5.0% | 2.7% |
| 资本支出强度资本支出/营收 | 5.0% | 35.4% |
| 现金转化率经营现金流/净利润 | 1.95× | 2.16× |
| 过去12个月自由现金流最近4个季度 | $159.0M | $1.2B |
8季度趋势，按日历期对齐
经营现金流CSTMRCL
| Q4 25 | $218.0M | $1.6B | ||
| Q3 25 | $99.0M | $1.5B | ||
| Q2 25 | $114.0M | $1.7B | ||
| Q1 25 | $58.0M | $1.6B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | — | $897.0M | ||
| Q2 24 | $138.0M | $1.6B | ||
| Q1 24 | — | $1.3B |
自由现金流CSTMRCL
| Q4 25 | $109.0M | $116.0M | ||
| Q3 25 | $24.0M | $-989.0M | ||
| Q2 25 | $37.0M | $910.0M | ||
| Q1 25 | $-11.0M | $1.2B | ||
| Q4 24 | — | $915.0M | ||
| Q3 24 | — | $563.0M | ||
| Q2 24 | $54.0M | $-567.0M | ||
| Q1 24 | — | $1.1B |
自由现金流率CSTMRCL
| Q4 25 | 5.0% | 2.7% | ||
| Q3 25 | 1.1% | -19.2% | ||
| Q2 25 | 1.8% | 20.1% | ||
| Q1 25 | -0.6% | 30.0% | ||
| Q4 24 | — | 24.3% | ||
| Q3 24 | — | 11.5% | ||
| Q2 24 | 2.8% | -13.8% | ||
| Q1 24 | — | 29.1% |
资本支出强度CSTMRCL
| Q4 25 | 5.0% | 35.4% | ||
| Q3 25 | 3.5% | 47.8% | ||
| Q2 25 | 3.7% | 18.4% | ||
| Q1 25 | 3.5% | 10.7% | ||
| Q4 24 | — | 14.7% | ||
| Q3 24 | — | 6.8% | ||
| Q2 24 | 4.3% | 52.1% | ||
| Q1 24 | — | 6.5% |
现金转化率CSTMRCL
| Q4 25 | 1.95× | 2.16× | ||
| Q3 25 | 1.13× | 0.93× | ||
| Q2 25 | 3.17× | 1.44× | ||
| Q1 25 | 1.57× | 2.23× | ||
| Q4 24 | — | 2.66× | ||
| Q3 24 | — | 0.81× | ||
| Q2 24 | 1.82× | 1.84× | ||
| Q1 24 | — | 3.69× |
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
CSTM
| Packaging Rolled Products | $1.0B | 46% |
| Automotive Rolled Products | $318.0M | 14% |
| Aerospace Rolled Products | $270.0M | 12% |
| Transportation Industry Defense And Other Rolled Products | $232.0M | 11% |
| Automotive Extruded Products | $220.0M | 10% |
| Other Extruded Products | $132.0M | 6% |
| Specialty And Other Thin Rolled Products | $22.0M | 1% |
RCL
| Passenger | $2.9B | 69% |
| Other | $1.3B | 31% |
