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CARRIAGE SERVICES INC（CSV）与FTAI Infrastructure Inc.（FIP）财务数据对比。点击上方公司名可切换其他公司
FTAI Infrastructure Inc.的季度营收约是CARRIAGE SERVICES INC的1.4倍（$143.5M vs $105.5M），CARRIAGE SERVICES INC净利率更高（11.6% vs -68.1%，领先79.7%），FTAI Infrastructure Inc.同比增速更快（77.7% vs 8.0%），CARRIAGE SERVICES INC自由现金流更多（$6.2M vs $-68.6M），过去两年FTAI Infrastructure Inc.的营收复合增速更高（31.9% 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。
FTAI基础设施有限公司持有、运营并投资交通物流、中游能源、发电等核心领域的优质关键基础设施资产，主要面向北美市场，聚焦拥有稳定长期现金流、合同约定收入流的项目，为利益相关方创造可持续回报。
CSV vs FIP — 直观对比
营收规模更大
FIP
是对方的1.4倍
$105.5M
营收增速更快
FIP
高出69.7%
8.0%
净利率更高
CSV
高出79.7%
-68.1%
自由现金流更多
CSV
多$74.8M
$-68.6M
两年增速更快
FIP
近两年复合增速
1.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $105.5M | $143.5M |
| 净利润 | $12.3M | $-97.7M |
| 毛利率 | 34.8% | — |
| 营业利润率 | 23.3% | -45.7% |
| 净利率 | 11.6% | -68.1% |
| 营收同比 | 8.0% | 77.7% |
| 净利润同比 | 24.5% | 21.6% |
| 每股收益（稀释后） | $0.76 | $-1.04 |
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CSVFIP
| Q4 25 | $105.5M | $143.5M | ||
| Q3 25 | $102.7M | $140.6M | ||
| Q2 25 | $102.1M | $122.3M | ||
| Q1 25 | $107.1M | $96.2M | ||
| Q4 24 | $97.7M | $80.8M | ||
| Q3 24 | $100.7M | $83.3M | ||
| Q2 24 | $102.3M | $84.9M | ||
| Q1 24 | $103.5M | $82.5M |
净利润CSVFIP
| Q4 25 | $12.3M | $-97.7M | ||
| Q3 25 | $6.6M | $-104.5M | ||
| Q2 25 | $11.7M | $-70.0M | ||
| Q1 25 | $20.9M | $120.2M | ||
| Q4 24 | $9.9M | $-124.7M | ||
| Q3 24 | $9.9M | $-43.0M | ||
| Q2 24 | $6.3M | $-48.1M | ||
| Q1 24 | $7.0M | $-50.3M |
毛利率CSVFIP
| 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CSVFIP
| Q4 25 | 23.3% | -45.7% | ||
| Q3 25 | 17.0% | -70.8% | ||
| Q2 25 | 23.5% | -56.4% | ||
| Q1 25 | 29.5% | 81.8% | ||
| Q4 24 | 21.6% | -152.7% | ||
| Q3 24 | 22.7% | -51.7% | ||
| Q2 24 | 18.0% | -56.4% | ||
| Q1 24 | 18.8% | -58.8% |
净利率CSVFIP
| Q4 25 | 11.6% | -68.1% | ||
| Q3 25 | 6.4% | -74.4% | ||
| Q2 25 | 11.5% | -57.2% | ||
| Q1 25 | 19.5% | 125.0% | ||
| Q4 24 | 10.1% | -154.4% | ||
| Q3 24 | 9.8% | -51.6% | ||
| Q2 24 | 6.1% | -56.7% | ||
| Q1 24 | 6.7% | -60.9% |
每股收益（稀释后）CSVFIP
| Q4 25 | $0.76 | $-1.04 | ||
| Q3 25 | $0.41 | $-1.38 | ||
| Q2 25 | $0.74 | $-0.73 | ||
| Q1 25 | $1.34 | $0.89 | ||
| Q4 24 | $0.62 | $-1.21 | ||
| Q3 24 | $0.63 | $-0.45 | ||
| Q2 24 | $0.40 | $-0.52 | ||
| Q1 24 | $0.45 | $-0.54 |
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 | $57.4M |
| 总债务越低越好 | — | $3.8B |
| 股东权益账面价值 | $254.8M | $21.3M |
| 总资产 | $1.3B | $5.7B |
| 负债/权益比越低杠杆越低 | — | 176.99× |
8季度趋势，按日历期对齐
现金及短期投资CSVFIP
| Q4 25 | $1.7M | $57.4M | ||
| Q3 25 | $1.2M | $34.7M | ||
| Q2 25 | $1.4M | $33.6M | ||
| Q1 25 | $4.6M | $26.3M | ||
| Q4 24 | $1.2M | $27.8M | ||
| Q3 24 | $1.3M | $20.3M | ||
| Q2 24 | $1.5M | $33.1M | ||
| Q1 24 | $1.7M | $23.0M |
总债务CSVFIP
| Q4 25 | — | $3.8B | ||
| Q3 25 | — | $3.7B | ||
| Q2 25 | — | $3.1B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | — | $1.5B | ||
| Q2 24 | — | $1.6B | ||
| Q1 24 | — | $1.3B |
股东权益CSVFIP
| Q4 25 | $254.8M | $21.3M | ||
| Q3 25 | $242.1M | $181.1M | ||
| Q2 25 | $235.4M | $375.5M | ||
| Q1 25 | $223.1M | $476.2M | ||
| Q4 24 | $208.6M | $202.7M | ||
| Q3 24 | $198.1M | $370.8M | ||
| Q2 24 | $187.9M | $394.8M | ||
| Q1 24 | $179.6M | $402.5M |
总资产CSVFIP
| Q4 25 | $1.3B | $5.7B | ||
| Q3 25 | $1.3B | $5.5B | ||
| Q2 25 | $1.3B | $4.4B | ||
| Q1 25 | $1.3B | $4.1B | ||
| Q4 24 | $1.3B | $2.4B | ||
| Q3 24 | $1.3B | $2.4B | ||
| Q2 24 | $1.3B | $2.5B | ||
| Q1 24 | $1.3B | $2.3B |
负债/权益比CSVFIP
| Q4 25 | — | 176.99× | ||
| Q3 25 | — | 20.59× | ||
| Q2 25 | — | 8.21× | ||
| Q1 25 | — | 5.79× | ||
| Q4 24 | — | 7.84× | ||
| Q3 24 | — | 4.14× | ||
| Q2 24 | — | 3.94× | ||
| Q1 24 | — | 3.34× |
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 | $-2.8M |
| 自由现金流经营现金流 - 资本支出 | $6.2M | $-68.6M |
| 自由现金流率自由现金流/营收 | 5.9% | -47.8% |
| 资本支出强度资本支出/营收 | 7.5% | 45.9% |
| 现金转化率经营现金流/净利润 | 1.15× | — |
| 过去12个月自由现金流最近4个季度 | $40.1M | $-398.5M |
8季度趋势，按日历期对齐
经营现金流CSVFIP
| Q4 25 | $14.1M | $-2.8M | ||
| Q3 25 | $24.7M | $-24.4M | ||
| Q2 25 | $8.1M | $-5.2M | ||
| Q1 25 | $13.8M | $-85.7M | ||
| Q4 24 | $9.3M | $-8.1M | ||
| Q3 24 | $20.9M | $14.2M | ||
| Q2 24 | $2.2M | $-17.6M | ||
| Q1 24 | $19.7M | $-3.9M |
自由现金流CSVFIP
| Q4 25 | $6.2M | $-68.6M | ||
| Q3 25 | $18.0M | $-90.7M | ||
| Q2 25 | $5.2M | $-87.5M | ||
| Q1 25 | $10.6M | $-151.7M | ||
| Q4 24 | $4.9M | $-34.3M | ||
| Q3 24 | $16.2M | $-11.7M | ||
| Q2 24 | $-1.4M | $-32.1M | ||
| Q1 24 | $16.2M | $-16.7M |
自由现金流率CSVFIP
| Q4 25 | 5.9% | -47.8% | ||
| Q3 25 | 17.5% | -64.5% | ||
| Q2 25 | 5.1% | -71.6% | ||
| Q1 25 | 9.9% | -157.7% | ||
| Q4 24 | 5.0% | -42.4% | ||
| Q3 24 | 16.1% | -14.0% | ||
| Q2 24 | -1.4% | -37.9% | ||
| Q1 24 | 15.6% | -20.3% |
资本支出强度CSVFIP
| Q4 25 | 7.5% | 45.9% | ||
| Q3 25 | 6.5% | 47.2% | ||
| Q2 25 | 2.8% | 67.3% | ||
| Q1 25 | 3.0% | 68.6% | ||
| Q4 24 | 4.5% | 32.5% | ||
| Q3 24 | 4.6% | 31.1% | ||
| Q2 24 | 3.5% | 17.2% | ||
| Q1 24 | 3.4% | 15.6% |
现金转化率CSVFIP
| Q4 25 | 1.15× | — | ||
| Q3 25 | 3.76× | — | ||
| Q2 25 | 0.69× | — | ||
| Q1 25 | 0.66× | -0.71× | ||
| Q4 24 | 0.94× | — | ||
| Q3 24 | 2.11× | — | ||
| Q2 24 | 0.34× | — | ||
| Q1 24 | 2.83× | — |
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% |
FIP
| Power Revenues | $45.9M | 32% |
| Rail Revenue | $44.6M | 31% |
| Service Other | $22.8M | 16% |
| Gas Revenues | $15.3M | 11% |
| Roadside Services Revenues | $11.5M | 8% |
| Rapauno | $1.2M | 1% |
