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CARRIAGE SERVICES INC（CSV）与VIRTUS INVESTMENT PARTNERS, INC.（VRTS）财务数据对比。点击上方公司名可切换其他公司
VIRTUS INVESTMENT PARTNERS, INC.的季度营收约是CARRIAGE SERVICES INC的2.0倍（$208.0M vs $105.5M），VIRTUS INVESTMENT PARTNERS, INC.净利率更高（16.3% vs 11.6%，领先4.6%），CARRIAGE SERVICES INC同比增速更快（8.0% vs -10.9%），CARRIAGE SERVICES INC自由现金流更多（$6.2M vs $-74.1M），过去两年CARRIAGE SERVICES INC的营收复合增速更高（1.0% vs -3.2%）
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。
Virtus Investment Partners是一家美国多管理人资产管理企业，旗下汇集多家具备独立投资流程与自有品牌的关联投资管理人，同时也提供非关联子投资顾问服务，为客户提供多元化的资产管理解决方案。
CSV vs VRTS — 直观对比
营收规模更大
VRTS
是对方的2.0倍
$105.5M
营收增速更快
CSV
高出18.9%
-10.9%
净利率更高
VRTS
高出4.6%
11.6%
自由现金流更多
CSV
多$80.3M
$-74.1M
两年增速更快
CSV
近两年复合增速
-3.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $105.5M | $208.0M |
| 净利润 | $12.3M | $33.9M |
| 毛利率 | 34.8% | — |
| 营业利润率 | 23.3% | 19.1% |
| 净利率 | 11.6% | 16.3% |
| 营收同比 | 8.0% | -10.9% |
| 净利润同比 | 24.5% | -14.2% |
| 每股收益（稀释后） | $0.76 | $5.15 |
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CSVVRTS
| Q4 25 | $105.5M | $208.0M | ||
| Q3 25 | $102.7M | $216.4M | ||
| Q2 25 | $102.1M | $210.5M | ||
| Q1 25 | $107.1M | $217.9M | ||
| Q4 24 | $97.7M | $233.5M | ||
| Q3 24 | $100.7M | $227.0M | ||
| Q2 24 | $102.3M | $224.4M | ||
| Q1 24 | $103.5M | $222.0M |
净利润CSVVRTS
| Q4 25 | $12.3M | $33.9M | ||
| Q3 25 | $6.6M | $31.3M | ||
| Q2 25 | $11.7M | $42.7M | ||
| Q1 25 | $20.9M | $28.1M | ||
| Q4 24 | $9.9M | $39.5M | ||
| Q3 24 | $9.9M | $49.1M | ||
| Q2 24 | $6.3M | $26.0M | ||
| Q1 24 | $7.0M | $37.9M |
毛利率CSVVRTS
| 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CSVVRTS
| Q4 25 | 23.3% | 19.1% | ||
| Q3 25 | 17.0% | 21.7% | ||
| Q2 25 | 23.5% | 21.5% | ||
| Q1 25 | 29.5% | 16.8% | ||
| Q4 24 | 21.6% | 21.7% | ||
| Q3 24 | 22.7% | 24.3% | ||
| Q2 24 | 18.0% | 19.7% | ||
| Q1 24 | 18.8% | 14.5% |
净利率CSVVRTS
| Q4 25 | 11.6% | 16.3% | ||
| Q3 25 | 6.4% | 14.5% | ||
| Q2 25 | 11.5% | 20.3% | ||
| Q1 25 | 19.5% | 12.9% | ||
| Q4 24 | 10.1% | 16.9% | ||
| Q3 24 | 9.8% | 21.6% | ||
| Q2 24 | 6.1% | 11.6% | ||
| Q1 24 | 6.7% | 17.1% |
每股收益（稀释后）CSVVRTS
| Q4 25 | $0.76 | $5.15 | ||
| Q3 25 | $0.41 | $4.65 | ||
| Q2 25 | $0.74 | $6.12 | ||
| Q1 25 | $1.34 | $4.05 | ||
| Q4 24 | $0.62 | $4.65 | ||
| Q3 24 | $0.63 | $5.71 | ||
| Q2 24 | $0.40 | $2.43 | ||
| Q1 24 | $0.45 | $4.10 |
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 | — |
| 总债务越低越好 | — | $390.0M |
| 股东权益账面价值 | $254.8M | $934.0M |
| 总资产 | $1.3B | $4.3B |
| 负债/权益比越低杠杆越低 | — | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资CSVVRTS
| Q4 25 | $1.7M | — | ||
| Q3 25 | $1.2M | — | ||
| Q2 25 | $1.4M | — | ||
| Q1 25 | $4.6M | — | ||
| Q4 24 | $1.2M | — | ||
| Q3 24 | $1.3M | — | ||
| Q2 24 | $1.5M | — | ||
| Q1 24 | $1.7M | — |
总债务CSVVRTS
| Q4 25 | — | $390.0M | ||
| Q3 25 | — | $390.6M | ||
| Q2 25 | — | $231.3M | ||
| Q1 25 | — | $231.7M | ||
| Q4 24 | — | $232.1M | ||
| Q3 24 | — | $237.5M | ||
| Q2 24 | — | $247.6M | ||
| Q1 24 | — | $253.0M |
股东权益CSVVRTS
| Q4 25 | $254.8M | $934.0M | ||
| Q3 25 | $242.1M | $918.7M | ||
| Q2 25 | $235.4M | $896.4M | ||
| Q1 25 | $223.1M | $893.7M | ||
| Q4 24 | $208.6M | $897.5M | ||
| Q3 24 | $198.1M | $889.0M | ||
| Q2 24 | $187.9M | $868.7M | ||
| Q1 24 | $179.6M | $871.7M |
总资产CSVVRTS
| Q4 25 | $1.3B | $4.3B | ||
| Q3 25 | $1.3B | $3.9B | ||
| Q2 25 | $1.3B | $3.7B | ||
| Q1 25 | $1.3B | $3.7B | ||
| Q4 24 | $1.3B | $4.0B | ||
| Q3 24 | $1.3B | $3.6B | ||
| Q2 24 | $1.3B | $3.6B | ||
| Q1 24 | $1.3B | $3.5B |
负债/权益比CSVVRTS
| Q4 25 | — | 0.42× | ||
| Q3 25 | — | 0.43× | ||
| Q2 25 | — | 0.26× | ||
| Q1 25 | — | 0.26× | ||
| Q4 24 | — | 0.26× | ||
| Q3 24 | — | 0.27× | ||
| Q2 24 | — | 0.29× | ||
| Q1 24 | — | 0.29× |
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 | $-67.2M |
| 自由现金流经营现金流 - 资本支出 | $6.2M | $-74.1M |
| 自由现金流率自由现金流/营收 | 5.9% | -35.6% |
| 资本支出强度资本支出/营收 | 7.5% | 3.3% |
| 现金转化率经营现金流/净利润 | 1.15× | -1.99× |
| 过去12个月自由现金流最近4个季度 | $40.1M | $100.2M |
8季度趋势，按日历期对齐
经营现金流CSVVRTS
| Q4 25 | $14.1M | $-67.2M | ||
| Q3 25 | $24.7M | $108.3M | ||
| Q2 25 | $8.1M | $75.8M | ||
| Q1 25 | $13.8M | $-3.8M | ||
| Q4 24 | $9.3M | $1.8M | ||
| Q3 24 | $20.9M | $69.1M | ||
| Q2 24 | $2.2M | $70.0M | ||
| Q1 24 | $19.7M | $-34.5M |
自由现金流CSVVRTS
| Q4 25 | $6.2M | $-74.1M | ||
| Q3 25 | $18.0M | $106.9M | ||
| Q2 25 | $5.2M | $74.2M | ||
| Q1 25 | $10.6M | $-6.8M | ||
| Q4 24 | $4.9M | $-3.8M | ||
| Q3 24 | $16.2M | $68.7M | ||
| Q2 24 | $-1.4M | $68.6M | ||
| Q1 24 | $16.2M | $-36.5M |
自由现金流率CSVVRTS
| Q4 25 | 5.9% | -35.6% | ||
| Q3 25 | 17.5% | 49.4% | ||
| Q2 25 | 5.1% | 35.2% | ||
| Q1 25 | 9.9% | -3.1% | ||
| Q4 24 | 5.0% | -1.6% | ||
| Q3 24 | 16.1% | 30.3% | ||
| Q2 24 | -1.4% | 30.6% | ||
| Q1 24 | 15.6% | -16.4% |
资本支出强度CSVVRTS
| Q4 25 | 7.5% | 3.3% | ||
| Q3 25 | 6.5% | 0.7% | ||
| Q2 25 | 2.8% | 0.7% | ||
| Q1 25 | 3.0% | 1.4% | ||
| Q4 24 | 4.5% | 2.4% | ||
| Q3 24 | 4.6% | 0.2% | ||
| Q2 24 | 3.5% | 0.6% | ||
| Q1 24 | 3.4% | 0.9% |
现金转化率CSVVRTS
| Q4 25 | 1.15× | -1.99× | ||
| Q3 25 | 3.76× | 3.45× | ||
| Q2 25 | 0.69× | 1.77× | ||
| Q1 25 | 0.66× | -0.13× | ||
| Q4 24 | 0.94× | 0.04× | ||
| Q3 24 | 2.11× | 1.41× | ||
| Q2 24 | 0.34× | 2.69× | ||
| Q1 24 | 2.83× | -0.91× |
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% |
VRTS
| Open End Funds | $68.9M | 33% |
| Retail Separate Accounts | $51.3M | 25% |
| Institutional Accounts | $39.6M | 19% |
| Administration And Shareholder Service Fees | $18.4M | 9% |
| Closed End Funds | $15.9M | 8% |
| Distribution And Service Fees | $12.3M | 6% |
