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CSW INDUSTRIALS, INC.（CSW）与Rocket Lab Corp（RKLB）财务数据对比。点击上方公司名可切换其他公司
CSW INDUSTRIALS, INC.的季度营收约是Rocket Lab Corp的1.3倍（$233.0M vs $179.7M），CSW INDUSTRIALS, INC.净利率更高（4.4% vs -29.5%，领先33.9%），Rocket Lab Corp同比增速更快（35.7% vs 20.3%），CSW INDUSTRIALS, INC.自由现金流更多（$22.7M vs $-114.2M），过去两年Rocket Lab Corp的营收复合增速更高（39.2% vs 5.1%）
Rocket Lab是公开上市的航空航天制造商及发射服务提供商，旗下Electron轨道火箭主打小型卫星发射，截至2026年1月已成功完成超75次任务，是全球现役发射次数最多的小型运载火箭。公司还开发了Electron的亚轨道改型HASTE用作高超音速技术测试平台，下一代可复用中型运载火箭Neutron目前也在研发中。
CSW vs RKLB — 直观对比
营收规模更大
CSW
是对方的1.3倍
$179.7M
营收增速更快
RKLB
高出15.4%
20.3%
净利率更高
CSW
高出33.9%
-29.5%
自由现金流更多
CSW
多$136.9M
$-114.2M
两年增速更快
RKLB
近两年复合增速
5.1%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $233.0M | $179.7M |
| 净利润 | $10.3M | $-52.9M |
| 毛利率 | 39.7% | 38.0% |
| 营业利润率 | 7.4% | -28.4% |
| 净利率 | 4.4% | -29.5% |
| 营收同比 | 20.3% | 35.7% |
| 净利润同比 | -61.9% | -1.1% |
| 每股收益（稀释后） | $0.62 | $-0.09 |
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CSWRKLB
| Q4 25 | $233.0M | $179.7M | ||
| Q3 25 | $277.0M | $155.1M | ||
| Q2 25 | $263.6M | $144.5M | ||
| Q1 25 | $230.5M | $122.6M | ||
| Q4 24 | $193.6M | $132.4M | ||
| Q3 24 | $227.9M | $104.8M | ||
| Q2 24 | $226.2M | $106.3M | ||
| Q1 24 | $210.9M | $92.8M |
净利润CSWRKLB
| Q4 25 | $10.3M | $-52.9M | ||
| Q3 25 | $40.7M | $-18.3M | ||
| Q2 25 | $40.9M | $-66.4M | ||
| Q1 25 | $35.1M | $-60.6M | ||
| Q4 24 | $26.9M | $-52.3M | ||
| Q3 24 | $36.1M | $-51.9M | ||
| Q2 24 | $38.6M | $-41.6M | ||
| Q1 24 | $31.8M | $-44.3M |
毛利率CSWRKLB
| Q4 25 | 39.7% | 38.0% | ||
| Q3 25 | 43.0% | 37.0% | ||
| Q2 25 | 43.8% | 32.1% | ||
| Q1 25 | 44.2% | 28.8% | ||
| Q4 24 | 41.4% | 27.8% | ||
| Q3 24 | 45.6% | 26.7% | ||
| Q2 24 | 47.5% | 25.6% | ||
| Q1 24 | 44.4% | 26.1% |
营业利润率CSWRKLB
| Q4 25 | 7.4% | -28.4% | ||
| Q3 25 | 20.5% | -38.0% | ||
| Q2 25 | 20.8% | -41.3% | ||
| Q1 25 | 19.5% | -48.3% | ||
| Q4 24 | 15.3% | -38.9% | ||
| Q3 24 | 22.6% | -49.5% | ||
| Q2 24 | 24.3% | -40.7% | ||
| Q1 24 | 21.0% | -46.4% |
净利率CSWRKLB
| Q4 25 | 4.4% | -29.5% | ||
| Q3 25 | 14.7% | -11.8% | ||
| Q2 25 | 15.5% | -46.0% | ||
| Q1 25 | 15.2% | -49.5% | ||
| Q4 24 | 13.9% | -39.5% | ||
| Q3 24 | 15.8% | -49.6% | ||
| Q2 24 | 17.1% | -39.2% | ||
| Q1 24 | 15.1% | -47.7% |
每股收益（稀释后）CSWRKLB
| Q4 25 | $0.62 | $-0.09 | ||
| Q3 25 | $2.41 | $-0.03 | ||
| Q2 25 | $2.43 | $-0.13 | ||
| Q1 25 | $2.05 | $-0.12 | ||
| Q4 24 | $1.60 | $-0.11 | ||
| Q3 24 | $2.26 | $-0.10 | ||
| Q2 24 | $2.47 | $-0.08 | ||
| Q1 24 | $2.03 | $-0.09 |
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 | $40.2M | $1.0B |
| 总债务越低越好 | — | $152.4M |
| 股东权益账面价值 | $1.1B | $1.7B |
| 总资产 | $2.3B | $2.3B |
| 负债/权益比越低杠杆越低 | — | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资CSWRKLB
| Q4 25 | $40.2M | $1.0B | ||
| Q3 25 | $31.5M | $976.7M | ||
| Q2 25 | $38.0M | $688.1M | ||
| Q1 25 | $225.8M | $428.4M | ||
| Q4 24 | $213.8M | $419.0M | ||
| Q3 24 | $273.2M | $442.4M | ||
| Q2 24 | $18.9M | $496.8M | ||
| Q1 24 | $22.2M | $492.5M |
总债务CSWRKLB
| Q4 25 | — | $152.4M | ||
| Q3 25 | — | $347.0M | ||
| Q2 25 | — | $346.5M | ||
| Q1 25 | $800.1M | $345.9M | ||
| Q4 24 | — | $345.4M | ||
| Q3 24 | — | $61.2M | ||
| Q2 24 | — | $64.2M | ||
| Q1 24 | $166.0M | $66.8M |
股东权益CSWRKLB
| Q4 25 | $1.1B | $1.7B | ||
| Q3 25 | $1.1B | $1.3B | ||
| Q2 25 | $1.1B | $688.5M | ||
| Q1 25 | $1.1B | $431.3M | ||
| Q4 24 | $1.0B | $382.5M | ||
| Q3 24 | $1.0B | $419.8M | ||
| Q2 24 | $650.2M | $455.2M | ||
| Q1 24 | $615.7M | $478.9M |
总资产CSWRKLB
| Q4 25 | $2.3B | $2.3B | ||
| Q3 25 | $1.5B | $2.2B | ||
| Q2 25 | $1.5B | $1.6B | ||
| Q1 25 | $1.4B | $1.3B | ||
| Q4 24 | $1.4B | $1.2B | ||
| Q3 24 | $1.4B | $1.2B | ||
| Q2 24 | $1.1B | $1.2B | ||
| Q1 24 | $1.0B | $1.2B |
负债/权益比CSWRKLB
| Q4 25 | — | 0.09× | ||
| Q3 25 | — | 0.27× | ||
| Q2 25 | — | 0.50× | ||
| Q1 25 | 0.75× | 0.80× | ||
| Q4 24 | — | 0.90× | ||
| Q3 24 | — | 0.15× | ||
| Q2 24 | — | 0.14× | ||
| Q1 24 | 0.27× | 0.14× |
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 | $28.9M | $-64.5M |
| 自由现金流经营现金流 - 资本支出 | $22.7M | $-114.2M |
| 自由现金流率自由现金流/营收 | 9.8% | -63.6% |
| 资本支出强度资本支出/营收 | 2.6% | 27.6% |
| 现金转化率经营现金流/净利润 | 2.81× | — |
| 过去12个月自由现金流最近4个季度 | $162.0M | $-321.8M |
8季度趋势，按日历期对齐
经营现金流CSWRKLB
| Q4 25 | $28.9M | $-64.5M | ||
| Q3 25 | $61.8M | $-23.5M | ||
| Q2 25 | $60.6M | $-23.2M | ||
| Q1 25 | $27.3M | $-54.2M | ||
| Q4 24 | $11.6M | $-2.4M | ||
| Q3 24 | $66.8M | $-30.9M | ||
| Q2 24 | $62.7M | $-13.0M | ||
| Q1 24 | $22.4M | $-2.6M |
自由现金流CSWRKLB
| Q4 25 | $22.7M | $-114.2M | ||
| Q3 25 | $58.7M | $-69.4M | ||
| Q2 25 | $57.7M | $-55.3M | ||
| Q1 25 | $22.8M | $-82.9M | ||
| Q4 24 | $8.5M | $-23.9M | ||
| Q3 24 | $61.3M | $-41.9M | ||
| Q2 24 | $59.6M | $-28.3M | ||
| Q1 24 | $17.5M | $-21.8M |
自由现金流率CSWRKLB
| Q4 25 | 9.8% | -63.6% | ||
| Q3 25 | 21.2% | -44.8% | ||
| Q2 25 | 21.9% | -38.3% | ||
| Q1 25 | 9.9% | -67.6% | ||
| Q4 24 | 4.4% | -18.1% | ||
| Q3 24 | 26.9% | -40.0% | ||
| Q2 24 | 26.3% | -26.7% | ||
| Q1 24 | 8.3% | -23.5% |
资本支出强度CSWRKLB
| Q4 25 | 2.6% | 27.6% | ||
| Q3 25 | 1.1% | 29.6% | ||
| Q2 25 | 1.1% | 22.2% | ||
| Q1 25 | 2.0% | 23.4% | ||
| Q4 24 | 1.6% | 16.3% | ||
| Q3 24 | 2.4% | 10.5% | ||
| Q2 24 | 1.4% | 14.4% | ||
| Q1 24 | 2.3% | 20.7% |
现金转化率CSWRKLB
| Q4 25 | 2.81× | — | ||
| Q3 25 | 1.52× | — | ||
| Q2 25 | 1.48× | — | ||
| Q1 25 | 0.78× | — | ||
| Q4 24 | 0.43× | — | ||
| Q3 24 | 1.85× | — | ||
| Q2 24 | 1.62× | — | ||
| Q1 24 | 0.71× | — |
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
CSW
| Contractor Solutions Segment | $166.3M | 71% |
| Specialized Reliability Solutions Segment | $38.2M | 16% |
| Engineered Building Solutions Segment | $28.5M | 12% |
RKLB
| Products | $94.0M | 52% |
| Transferred Over Time | $87.3M | 49% |
