vs
CSX Corporation（CSX）与凯悦酒店集团（H）财务数据对比。点击上方公司名可切换其他公司
CSX Corporation的季度营收约是凯悦酒店集团的1.9倍（$3.5B vs $1.8B），CSX Corporation净利率更高（23.2% vs -1.1%，领先24.3%），凯悦酒店集团同比增速更快（11.7% vs 1.7%），CSX Corporation自由现金流更多（$793.0M vs $236.0M），过去两年凯悦酒店集团的营收复合增速更高（2.2% vs -3.0%）
CSX运输是美国一级货运铁路企业，业务覆盖美国东部区域及加拿大安大略省、魁北克省，运营铁路总里程约3.4万公里，隶属于总部位于佛罗里达州杰克逊维尔市的财富500强企业CSX Corporation，是其旗下核心子公司。
凯悦酒店集团是来自美国的跨国酒店管理企业，总部位于芝加哥河畔广场区域，由普利兹克家族运营管理。集团主营高端及商务酒店、度假村、度假物业的管理与特许经营业务，目前在全球69个国家拥有逾1350家酒店及一价全包物业，覆盖六大洲。
CSX vs H — 直观对比
营收规模更大
CSX
是对方的1.9倍
$1.8B
营收增速更快
H
高出9.9%
1.7%
净利率更高
CSX
高出24.3%
-1.1%
自由现金流更多
CSX
多$557.0M
$236.0M
两年增速更快
H
近两年复合增速
-3.0%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.5B | $1.8B |
| 净利润 | $807.0M | $-20.0M |
| 毛利率 | — | — |
| 营业利润率 | 29.9% | 0.4% |
| 净利率 | 23.2% | -1.1% |
| 营收同比 | 1.7% | 11.7% |
| 净利润同比 | 401.2% | 64.3% |
| 每股收益（稀释后） | — | $-0.20 |
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CSXH
| Q1 26 | $3.5B | — | ||
| Q4 25 | $3.5B | $1.8B | ||
| Q3 25 | $3.6B | $1.8B | ||
| Q2 25 | $3.6B | $1.8B | ||
| Q1 25 | $3.4B | $1.7B | ||
| Q4 24 | $3.5B | $1.6B | ||
| Q3 24 | $3.6B | $1.6B | ||
| Q2 24 | $3.7B | $1.7B |
净利润CSXH
| Q1 26 | $807.0M | — | ||
| Q4 25 | $720.0M | $-20.0M | ||
| Q3 25 | $694.0M | $-49.0M | ||
| Q2 25 | $829.0M | $-3.0M | ||
| Q1 25 | $646.0M | $20.0M | ||
| Q4 24 | $720.0M | $-56.0M | ||
| Q3 24 | $894.0M | $471.0M | ||
| Q2 24 | $963.0M | $359.0M |
营业利润率CSXH
| Q1 26 | 29.9% | — | ||
| Q4 25 | 31.6% | 0.4% | ||
| Q3 25 | 30.3% | -1.0% | ||
| Q2 25 | 35.9% | 2.1% | ||
| Q1 25 | 30.4% | 3.0% | ||
| Q4 24 | 30.8% | -3.0% | ||
| Q3 24 | 37.4% | 37.3% | ||
| Q2 24 | 39.1% | 27.1% |
净利率CSXH
| Q1 26 | 23.2% | — | ||
| Q4 25 | 20.5% | -1.1% | ||
| Q3 25 | 19.3% | -2.7% | ||
| Q2 25 | 23.2% | -0.2% | ||
| Q1 25 | 18.9% | 1.2% | ||
| Q4 24 | 20.3% | -3.5% | ||
| Q3 24 | 24.7% | 28.9% | ||
| Q2 24 | 26.0% | 21.1% |
每股收益（稀释后）CSXH
| Q1 26 | — | — | ||
| Q4 25 | $0.39 | $-0.20 | ||
| Q3 25 | $0.37 | $-0.51 | ||
| Q2 25 | $0.44 | $-0.03 | ||
| Q1 25 | $0.34 | $0.19 | ||
| Q4 24 | $0.38 | $-0.37 | ||
| Q3 24 | $0.46 | $4.63 | ||
| Q2 24 | $0.49 | $3.46 |
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 | $1.1B | $813.0M |
| 总债务越低越好 | $18.9B | — |
| 股东权益账面价值 | $13.6B | $3.3B |
| 总资产 | $44.2B | $14.0B |
| 负债/权益比越低杠杆越低 | 1.39× | — |
8季度趋势，按日历期对齐
现金及短期投资CSXH
| Q1 26 | $1.1B | — | ||
| Q4 25 | $5.0M | $813.0M | ||
| Q3 25 | $6.0M | $749.0M | ||
| Q2 25 | $6.0M | $912.0M | ||
| Q1 25 | $8.0M | $1.8B | ||
| Q4 24 | $72.0M | $1.4B | ||
| Q3 24 | $12.0M | $1.1B | ||
| Q2 24 | $4.0M | $2.0B |
总债务CSXH
| Q1 26 | $18.9B | — | ||
| Q4 25 | $18.2B | — | ||
| Q3 25 | $18.6B | $6.0B | ||
| Q2 25 | $18.6B | $6.0B | ||
| Q1 25 | $18.5B | $4.3B | ||
| Q4 24 | $17.9B | $3.8B | ||
| Q3 24 | $18.5B | $3.1B | ||
| Q2 24 | $18.0B | $3.9B |
股东权益CSXH
| Q1 26 | $13.6B | — | ||
| Q4 25 | $13.2B | $3.3B | ||
| Q3 25 | $12.8B | $3.5B | ||
| Q2 25 | $12.4B | $3.6B | ||
| Q1 25 | $12.2B | $3.5B | ||
| Q4 24 | $12.5B | $3.5B | ||
| Q3 24 | $12.9B | $3.7B | ||
| Q2 24 | $12.6B | $3.9B |
总资产CSXH
| Q1 26 | $44.2B | — | ||
| Q4 25 | $43.7B | $14.0B | ||
| Q3 25 | $43.3B | $15.7B | ||
| Q2 25 | $42.9B | $15.9B | ||
| Q1 25 | $43.2B | $14.0B | ||
| Q4 24 | $42.8B | $13.3B | ||
| Q3 24 | $43.1B | $11.9B | ||
| Q2 24 | $42.4B | $12.8B |
负债/权益比CSXH
| Q1 26 | 1.39× | — | ||
| Q4 25 | 1.38× | — | ||
| Q3 25 | 1.45× | 1.73× | ||
| Q2 25 | 1.50× | 1.69× | ||
| Q1 25 | 1.52× | 1.25× | ||
| Q4 24 | 1.43× | 1.07× | ||
| Q3 24 | 1.43× | 0.85× | ||
| Q2 24 | 1.42× | 1.01× |
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 | $1.3B | $313.0M |
| 自由现金流经营现金流 - 资本支出 | $793.0M | $236.0M |
| 自由现金流率自由现金流/营收 | 22.8% | 13.2% |
| 资本支出强度资本支出/营收 | — | 4.3% |
| 现金转化率经营现金流/净利润 | 1.58× | — |
| 过去12个月自由现金流最近4个季度 | $2.0B | $159.0M |
8季度趋势，按日历期对齐
经营现金流CSXH
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.4B | $313.0M | ||
| Q3 25 | $1.3B | $-20.0M | ||
| Q2 25 | $635.0M | $-67.0M | ||
| Q1 25 | $1.3B | $153.0M | ||
| Q4 24 | $1.4B | $235.0M | ||
| Q3 24 | $1.7B | $-21.0M | ||
| Q2 24 | $1.1B | $177.0M |
自由现金流CSXH
| Q1 26 | $793.0M | — | ||
| Q4 25 | $709.0M | $236.0M | ||
| Q3 25 | $607.0M | $-89.0M | ||
| Q2 25 | $-141.0M | $-111.0M | ||
| Q1 25 | $536.0M | $123.0M | ||
| Q4 24 | $550.0M | $184.0M | ||
| Q3 24 | $1.1B | $-64.0M | ||
| Q2 24 | $547.0M | $135.0M |
自由现金流率CSXH
| Q1 26 | 22.8% | — | ||
| Q4 25 | 20.2% | 13.2% | ||
| Q3 25 | 16.9% | -5.0% | ||
| Q2 25 | -3.9% | -6.1% | ||
| Q1 25 | 15.7% | 7.2% | ||
| Q4 24 | 15.5% | 11.5% | ||
| Q3 24 | 29.3% | -3.9% | ||
| Q2 24 | 14.8% | 7.9% |
资本支出强度CSXH
| Q1 26 | — | — | ||
| Q4 25 | 19.3% | 4.3% | ||
| Q3 25 | 20.4% | 3.9% | ||
| Q2 25 | 21.7% | 2.4% | ||
| Q1 25 | 21.0% | 1.7% | ||
| Q4 24 | 23.7% | 3.2% | ||
| Q3 24 | 17.3% | 2.6% | ||
| Q2 24 | 14.6% | 2.5% |
现金转化率CSXH
| Q1 26 | 1.58× | — | ||
| Q4 25 | 1.93× | — | ||
| Q3 25 | 1.93× | — | ||
| Q2 25 | 0.77× | — | ||
| Q1 25 | 1.94× | 7.65× | ||
| Q4 24 | 1.93× | — | ||
| Q3 24 | 1.89× | -0.04× | ||
| Q2 24 | 1.13× | 0.49× |
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
CSX
暂无分部数据
H
| Other | $627.0M | 35% |
| Rooms Revenue | $326.0M | 18% |
| Net Fees | $290.0M | 16% |
| Distribution Segment | $177.0M | 10% |
| Franchise And Other Fees | $114.0M | 6% |
| Base Management Fees | $112.0M | 6% |
| Incentive Management Fees | $81.0M | 5% |
| Other Owned And Leased Hotel Revenue | $41.0M | 2% |
| Contra Revenue | $17.0M | 1% |
| Other Revenues | $4.0M | 0% |
