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CARRIAGE SERVICES INC（CSV）与Empire State Realty OP, L.P.（ESBA）财务数据对比。点击上方公司名可切换其他公司
Empire State Realty OP, L.P.的季度营收约是CARRIAGE SERVICES INC的1.9倍（$199.2M vs $105.5M），Empire State Realty OP, L.P.净利率更高（16.1% vs 11.6%，领先4.5%），CARRIAGE SERVICES INC同比增速更快（8.0% vs 0.8%），Empire State Realty OP, L.P.自由现金流更多（$50.6M vs $6.2M），过去两年Empire State Realty OP, L.P.的营收复合增速更高（4.9% vs 1.0%）
怡和Cycle & Carriage有限公司是怡和集团在东南亚的投资控股公司，目前该集团持有其75%的股份，是怡和集团在东南亚区域开展资本布局与投资业务的核心平台。
Empire State Realty OP, L.P. 是一家房地产运营合伙企业，核心业务为持有、管理及出租优质商业与零售物业，主要布局纽约大都会区，旗下拥有帝国大厦等标志性地标，服务企业租户、零售品牌及旅游相关业务板块。
CSV vs ESBA — 直观对比
营收规模更大
ESBA
是对方的1.9倍
$105.5M
营收增速更快
CSV
高出7.1%
0.8%
净利率更高
ESBA
高出4.5%
11.6%
自由现金流更多
ESBA
多$44.3M
$6.2M
两年增速更快
ESBA
近两年复合增速
1.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $105.5M | $199.2M |
| 净利润 | $12.3M | $32.2M |
| 毛利率 | 34.8% | — |
| 营业利润率 | 23.3% | 17.8% |
| 净利率 | 11.6% | 16.1% |
| 营收同比 | 8.0% | 0.8% |
| 净利润同比 | 24.5% | 71.2% |
| 每股收益（稀释后） | $0.76 | $0.11 |
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CSVESBA
| Q4 25 | $105.5M | $199.2M | ||
| Q3 25 | $102.7M | $197.7M | ||
| Q2 25 | $102.1M | $191.3M | ||
| Q1 25 | $107.1M | $180.1M | ||
| Q4 24 | $97.7M | $197.6M | ||
| Q3 24 | $100.7M | $199.6M | ||
| Q2 24 | $102.3M | $189.5M | ||
| Q1 24 | $103.5M | $181.2M |
净利润CSVESBA
| Q4 25 | $12.3M | $32.2M | ||
| Q3 25 | $6.6M | $13.6M | ||
| Q2 25 | $11.7M | $11.4M | ||
| Q1 25 | $20.9M | $15.8M | ||
| Q4 24 | $9.9M | $18.8M | ||
| Q3 24 | $9.9M | $22.8M | ||
| Q2 24 | $6.3M | $28.6M | ||
| Q1 24 | $7.0M | $10.2M |
毛利率CSVESBA
| Q4 25 | 34.8% | — | ||
| Q3 25 | 35.3% | — | ||
| Q2 25 | 35.2% | — | ||
| Q1 25 | 35.3% | — | ||
| Q4 24 | 34.4% | — | ||
| Q3 24 | 35.2% | — | ||
| Q2 24 | 36.2% | — | ||
| Q1 24 | 36.0% | — |
营业利润率CSVESBA
| Q4 25 | 23.3% | 17.8% | ||
| Q3 25 | 17.0% | 19.9% | ||
| Q2 25 | 23.5% | 18.4% | ||
| Q1 25 | 29.5% | 14.3% | ||
| Q4 24 | 21.6% | 21.7% | ||
| Q3 24 | 22.7% | 22.7% | ||
| Q2 24 | 18.0% | 20.8% | ||
| Q1 24 | 18.8% | 17.1% |
净利率CSVESBA
| Q4 25 | 11.6% | 16.1% | ||
| Q3 25 | 6.4% | 6.9% | ||
| Q2 25 | 11.5% | 6.0% | ||
| Q1 25 | 19.5% | 8.8% | ||
| Q4 24 | 10.1% | 9.5% | ||
| Q3 24 | 9.8% | 11.4% | ||
| Q2 24 | 6.1% | 15.1% | ||
| Q1 24 | 6.7% | 5.6% |
每股收益（稀释后）CSVESBA
| Q4 25 | $0.76 | $0.11 | ||
| Q3 25 | $0.41 | $0.05 | ||
| Q2 25 | $0.74 | $0.04 | ||
| Q1 25 | $1.34 | $0.05 | ||
| Q4 24 | $0.62 | $0.07 | ||
| Q3 24 | $0.63 | $0.08 | ||
| Q2 24 | $0.40 | $0.10 | ||
| Q1 24 | $0.45 | $0.03 |
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 | $1.7M | $132.7M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $254.8M | — |
| 总资产 | $1.3B | $4.5B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资CSVESBA
| Q4 25 | $1.7M | $132.7M | ||
| Q3 25 | $1.2M | $154.1M | ||
| Q2 25 | $1.4M | $94.6M | ||
| Q1 25 | $4.6M | $187.8M | ||
| Q4 24 | $1.2M | $385.5M | ||
| Q3 24 | $1.3M | $421.9M | ||
| Q2 24 | $1.5M | $535.5M | ||
| Q1 24 | $1.7M | $333.6M |
股东权益CSVESBA
| Q4 25 | $254.8M | — | ||
| Q3 25 | $242.1M | — | ||
| Q2 25 | $235.4M | — | ||
| Q1 25 | $223.1M | — | ||
| Q4 24 | $208.6M | — | ||
| Q3 24 | $198.1M | — | ||
| Q2 24 | $187.9M | — | ||
| Q1 24 | $179.6M | — |
总资产CSVESBA
| Q4 25 | $1.3B | $4.5B | ||
| Q3 25 | $1.3B | $4.1B | ||
| Q2 25 | $1.3B | $4.1B | ||
| Q1 25 | $1.3B | $4.1B | ||
| Q4 24 | $1.3B | $4.5B | ||
| Q3 24 | $1.3B | $4.4B | ||
| Q2 24 | $1.3B | $4.4B | ||
| Q1 24 | $1.3B | $4.2B |
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 | $14.1M | $249.1M |
| 自由现金流经营现金流 - 资本支出 | $6.2M | $50.6M |
| 自由现金流率自由现金流/营收 | 5.9% | 25.4% |
| 资本支出强度资本支出/营收 | 7.5% | 99.6% |
| 现金转化率经营现金流/净利润 | 1.15× | 7.74× |
| 过去12个月自由现金流最近4个季度 | $40.1M | $109.3M |
8季度趋势，按日历期对齐
经营现金流CSVESBA
| Q4 25 | $14.1M | $249.1M | ||
| Q3 25 | $24.7M | $105.3M | ||
| Q2 25 | $8.1M | $26.7M | ||
| Q1 25 | $13.8M | $83.1M | ||
| Q4 24 | $9.3M | $260.9M | ||
| Q3 24 | $20.9M | $102.8M | ||
| Q2 24 | $2.2M | $37.1M | ||
| Q1 24 | $19.7M | $70.9M |
自由现金流CSVESBA
| Q4 25 | $6.2M | $50.6M | ||
| Q3 25 | $18.0M | $72.8M | ||
| Q2 25 | $5.2M | $-55.1M | ||
| Q1 25 | $10.6M | $41.1M | ||
| Q4 24 | $4.9M | $88.0M | ||
| Q3 24 | $16.2M | $-65.1M | ||
| Q2 24 | $-1.4M | $19.5M | ||
| Q1 24 | $16.2M | $23.2M |
自由现金流率CSVESBA
| Q4 25 | 5.9% | 25.4% | ||
| Q3 25 | 17.5% | 36.8% | ||
| Q2 25 | 5.1% | -28.8% | ||
| Q1 25 | 9.9% | 22.8% | ||
| Q4 24 | 5.0% | 44.5% | ||
| Q3 24 | 16.1% | -32.6% | ||
| Q2 24 | -1.4% | 10.3% | ||
| Q1 24 | 15.6% | 12.8% |
资本支出强度CSVESBA
| Q4 25 | 7.5% | 99.6% | ||
| Q3 25 | 6.5% | 16.5% | ||
| Q2 25 | 2.8% | 42.8% | ||
| Q1 25 | 3.0% | 23.4% | ||
| Q4 24 | 4.5% | 87.5% | ||
| Q3 24 | 4.6% | 84.1% | ||
| Q2 24 | 3.5% | 9.3% | ||
| Q1 24 | 3.4% | 26.3% |
现金转化率CSVESBA
| Q4 25 | 1.15× | 7.74× | ||
| Q3 25 | 3.76× | 7.72× | ||
| Q2 25 | 0.69× | 2.35× | ||
| Q1 25 | 0.66× | 5.27× | ||
| Q4 24 | 0.94× | 13.88× | ||
| Q3 24 | 2.11× | 4.51× | ||
| Q2 24 | 0.34× | 1.30× | ||
| Q1 24 | 2.83× | 6.94× |
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
CSV
| Propertyand Merchandise | $47.8M | 45% |
| Cemetery Interment Rights | $24.8M | 23% |
| Merchandise | $18.9M | 18% |
| Other Revenue | $10.2M | 10% |
| Other | $3.9M | 4% |
ESBA
| Real Estate Segment | $163.8M | 82% |
| Observatory Segment | $35.2M | 18% |
