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CARRIAGE SERVICES INC（CSV）与Ranpak Holdings Corp.（PACK）财务数据对比。点击上方公司名可切换其他公司
CARRIAGE SERVICES INC的季度营收约是Ranpak Holdings Corp.的1.1倍（$105.5M vs $93.7M），CARRIAGE SERVICES INC同比增速更快（8.0% vs 2.3%），过去两年Ranpak Holdings Corp.的营收复合增速更高（13.7% 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。
Ranpak Holdings Corp.主营生产防护纸质包装设备与纸制品，可为电商及各行业货品运输提供纸质缓冲包装方案，同时也供应自动化包装解决方案。公司总部位于美国俄亥俄州康科德，在美国本土多个州、捷克、荷兰、中国上海及新加坡均设有生产基地与办公室，产品可用于包裹缠绕、缓冲填隙、冷链运输等多种场景。
CSV vs PACK — 直观对比
营收规模更大
CSV
是对方的1.1倍
$93.7M
营收增速更快
CSV
高出5.7%
2.3%
两年增速更快
PACK
近两年复合增速
1.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $105.5M | $93.7M |
| 净利润 | $12.3M | — |
| 毛利率 | 34.8% | 39.0% |
| 营业利润率 | 23.3% | -1.0% |
| 净利率 | 11.6% | — |
| 营收同比 | 8.0% | 2.3% |
| 净利润同比 | 24.5% | — |
| 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CSVPACK
| Q4 25 | $105.5M | $93.7M | ||
| Q3 25 | $102.7M | $83.6M | ||
| Q2 25 | $102.1M | $77.8M | ||
| Q1 25 | $107.1M | $77.6M | ||
| Q4 24 | $97.7M | $91.6M | ||
| Q3 24 | $100.7M | $78.6M | ||
| Q2 24 | $102.3M | $72.8M | ||
| Q1 24 | $103.5M | $72.5M |
净利润CSVPACK
| Q4 25 | $12.3M | — | ||
| Q3 25 | $6.6M | $-10.4M | ||
| Q2 25 | $11.7M | $-7.5M | ||
| Q1 25 | $20.9M | $-10.9M | ||
| Q4 24 | $9.9M | — | ||
| Q3 24 | $9.9M | $-8.1M | ||
| Q2 24 | $6.3M | $5.5M | ||
| Q1 24 | $7.0M | $-8.1M |
毛利率CSVPACK
| Q4 25 | 34.8% | 39.0% | ||
| Q3 25 | 35.3% | 41.1% | ||
| Q2 25 | 35.2% | 37.1% | ||
| Q1 25 | 35.3% | 39.8% | ||
| Q4 24 | 34.4% | 45.2% | ||
| Q3 24 | 35.2% | 43.8% | ||
| Q2 24 | 36.2% | 43.5% | ||
| Q1 24 | 36.0% | 44.6% |
营业利润率CSVPACK
| Q4 25 | 23.3% | -1.0% | ||
| Q3 25 | 17.0% | -6.8% | ||
| Q2 25 | 23.5% | -12.5% | ||
| Q1 25 | 29.5% | -10.3% | ||
| Q4 24 | 21.6% | 1.5% | ||
| Q3 24 | 22.7% | -5.3% | ||
| Q2 24 | 18.0% | -7.1% | ||
| Q1 24 | 18.8% | -6.6% |
净利率CSVPACK
| Q4 25 | 11.6% | — | ||
| Q3 25 | 6.4% | -12.4% | ||
| Q2 25 | 11.5% | -9.6% | ||
| Q1 25 | 19.5% | -14.0% | ||
| Q4 24 | 10.1% | — | ||
| Q3 24 | 9.8% | -10.3% | ||
| Q2 24 | 6.1% | 7.6% | ||
| Q1 24 | 6.7% | -11.2% |
每股收益（稀释后）CSVPACK
| Q4 25 | $0.76 | $-0.11 | ||
| Q3 25 | $0.41 | $-0.12 | ||
| Q2 25 | $0.74 | $-0.09 | ||
| Q1 25 | $1.34 | $-0.13 | ||
| Q4 24 | $0.62 | $-0.13 | ||
| Q3 24 | $0.63 | $-0.10 | ||
| Q2 24 | $0.40 | $0.07 | ||
| Q1 24 | $0.45 | $-0.10 |
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 | $63.0M |
| 总债务越低越好 | — | $401.9M |
| 股东权益账面价值 | $254.8M | $534.9M |
| 总资产 | $1.3B | $1.1B |
| 负债/权益比越低杠杆越低 | — | 0.75× |
8季度趋势，按日历期对齐
现金及短期投资CSVPACK
| Q4 25 | $1.7M | $63.0M | ||
| Q3 25 | $1.2M | $49.9M | ||
| Q2 25 | $1.4M | $49.2M | ||
| Q1 25 | $4.6M | $65.5M | ||
| Q4 24 | $1.2M | $76.1M | ||
| Q3 24 | $1.3M | $69.5M | ||
| Q2 24 | $1.5M | $65.1M | ||
| Q1 24 | $1.7M | $55.1M |
总债务CSVPACK
| Q4 25 | — | $401.9M | ||
| Q3 25 | — | $403.1M | ||
| Q2 25 | — | $403.1M | ||
| Q1 25 | — | $405.2M | ||
| Q4 24 | — | $406.4M | ||
| Q3 24 | — | $403.2M | ||
| Q2 24 | — | $396.1M | ||
| Q1 24 | — | $396.7M |
股东权益CSVPACK
| Q4 25 | $254.8M | $534.9M | ||
| Q3 25 | $242.1M | $537.8M | ||
| Q2 25 | $235.4M | $539.0M | ||
| Q1 25 | $223.1M | $544.1M | ||
| Q4 24 | $208.6M | $548.1M | ||
| Q3 24 | $198.1M | $564.3M | ||
| Q2 24 | $187.9M | $566.2M | ||
| Q1 24 | $179.6M | $560.0M |
总资产CSVPACK
| Q4 25 | $1.3B | $1.1B | ||
| Q3 25 | $1.3B | $1.1B | ||
| Q2 25 | $1.3B | $1.1B | ||
| Q1 25 | $1.3B | $1.1B | ||
| Q4 24 | $1.3B | $1.1B | ||
| Q3 24 | $1.3B | $1.1B | ||
| Q2 24 | $1.3B | $1.1B | ||
| Q1 24 | $1.3B | $1.1B |
负债/权益比CSVPACK
| Q4 25 | — | 0.75× | ||
| Q3 25 | — | 0.75× | ||
| Q2 25 | — | 0.75× | ||
| Q1 25 | — | 0.74× | ||
| Q4 24 | — | 0.74× | ||
| Q3 24 | — | 0.71× | ||
| Q2 24 | — | 0.70× | ||
| Q1 24 | — | 0.71× |
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 | $19.5M |
| 自由现金流经营现金流 - 资本支出 | $6.2M | — |
| 自由现金流率自由现金流/营收 | 5.9% | — |
| 资本支出强度资本支出/营收 | 7.5% | — |
| 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 | — |
8季度趋势，按日历期对齐
经营现金流CSVPACK
| Q4 25 | $14.1M | $19.5M | ||
| Q3 25 | $24.7M | $8.5M | ||
| Q2 25 | $8.1M | $-3.6M | ||
| Q1 25 | $13.8M | $-1.3M | ||
| Q4 24 | $9.3M | $6.5M | ||
| Q3 24 | $20.9M | $10.1M | ||
| Q2 24 | $2.2M | $19.6M | ||
| Q1 24 | $19.7M | $5.2M |
自由现金流CSVPACK
| Q4 25 | $6.2M | — | ||
| Q3 25 | $18.0M | — | ||
| Q2 25 | $5.2M | — | ||
| Q1 25 | $10.6M | — | ||
| Q4 24 | $4.9M | — | ||
| Q3 24 | $16.2M | — | ||
| Q2 24 | $-1.4M | — | ||
| Q1 24 | $16.2M | — |
自由现金流率CSVPACK
| Q4 25 | 5.9% | — | ||
| Q3 25 | 17.5% | — | ||
| Q2 25 | 5.1% | — | ||
| Q1 25 | 9.9% | — | ||
| Q4 24 | 5.0% | — | ||
| Q3 24 | 16.1% | — | ||
| Q2 24 | -1.4% | — | ||
| Q1 24 | 15.6% | — |
资本支出强度CSVPACK
| Q4 25 | 7.5% | — | ||
| Q3 25 | 6.5% | — | ||
| Q2 25 | 2.8% | — | ||
| Q1 25 | 3.0% | — | ||
| Q4 24 | 4.5% | — | ||
| Q3 24 | 4.6% | — | ||
| Q2 24 | 3.5% | — | ||
| Q1 24 | 3.4% | — |
现金转化率CSVPACK
| Q4 25 | 1.15× | — | ||
| Q3 25 | 3.76× | — | ||
| Q2 25 | 0.69× | — | ||
| Q1 25 | 0.66× | — | ||
| Q4 24 | 0.94× | — | ||
| Q3 24 | 2.11× | — | ||
| Q2 24 | 0.34× | 3.56× | ||
| 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% |
PACK
| Other | $47.9M | 51% |
| Europe And Asia Segment | $45.8M | 49% |
