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CSX Corporation（CSX）与国际纸业（IP）财务数据对比。点击上方公司名可切换其他公司
国际纸业的季度营收约是CSX Corporation的1.4倍（$4.7B vs $3.5B），CSX Corporation净利率更高（23.2% vs -50.3%，领先73.4%），国际纸业同比增速更快（3.6% vs 1.7%），CSX Corporation自由现金流更多（$793.0M vs $255.0M），过去两年国际纸业的营收复合增速更高（1.3% 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。
国际纸业是总部位于美国田纳西州孟菲斯的纸浆及造纸企业，为全球规模最大的同类型企业，目前拥有约3.9万名员工，产品覆盖纸浆、包装用纸、办公用纸等品类，业务遍及全球多个国家和地区，广泛服务各行业客户的相关需求。
CSX vs IP — 直观对比
营收规模更大
IP
是对方的1.4倍
$3.5B
营收增速更快
IP
高出1.9%
1.7%
净利率更高
CSX
高出73.4%
-50.3%
自由现金流更多
CSX
多$538.0M
$255.0M
两年增速更快
IP
近两年复合增速
-3.0%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.5B | $4.7B |
| 净利润 | $807.0M | $-2.4B |
| 毛利率 | — | 32.2% |
| 营业利润率 | 29.9% | -56.4% |
| 净利率 | 23.2% | -50.3% |
| 营收同比 | 1.7% | 3.6% |
| 净利润同比 | 401.2% | -1521.8% |
| 每股收益（稀释后） | — | $-4.76 |
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CSXIP
| Q1 26 | $3.5B | — | ||
| Q4 25 | $3.5B | $4.7B | ||
| Q3 25 | $3.6B | $6.2B | ||
| Q2 25 | $3.6B | $6.8B | ||
| Q1 25 | $3.4B | $5.9B | ||
| Q4 24 | $3.5B | $4.6B | ||
| Q3 24 | $3.6B | $4.7B | ||
| Q2 24 | $3.7B | $4.7B |
净利润CSXIP
| Q1 26 | $807.0M | — | ||
| Q4 25 | $720.0M | $-2.4B | ||
| Q3 25 | $694.0M | $-1.1B | ||
| Q2 25 | $829.0M | $75.0M | ||
| Q1 25 | $646.0M | $-105.0M | ||
| Q4 24 | $720.0M | $-147.0M | ||
| Q3 24 | $894.0M | $150.0M | ||
| Q2 24 | $963.0M | $498.0M |
毛利率CSXIP
| Q1 26 | — | — | ||
| Q4 25 | — | 32.2% | ||
| Q3 25 | — | 31.1% | ||
| Q2 25 | — | 27.9% | ||
| Q1 25 | — | 27.8% | ||
| Q4 24 | — | 29.0% | ||
| Q3 24 | — | 28.7% | ||
| Q2 24 | — | 29.0% |
营业利润率CSXIP
| Q1 26 | 29.9% | — | ||
| Q4 25 | 31.6% | -56.4% | ||
| Q3 25 | 30.3% | -10.8% | ||
| Q2 25 | 35.9% | 1.7% | ||
| Q1 25 | 30.4% | -2.3% | ||
| Q4 24 | 30.8% | -4.9% | ||
| Q3 24 | 37.4% | 5.1% | ||
| Q2 24 | 39.1% | 6.8% |
净利率CSXIP
| Q1 26 | 23.2% | — | ||
| Q4 25 | 20.5% | -50.3% | ||
| Q3 25 | 19.3% | -17.7% | ||
| Q2 25 | 23.2% | 1.1% | ||
| Q1 25 | 18.9% | -1.8% | ||
| Q4 24 | 20.3% | -3.2% | ||
| Q3 24 | 24.7% | 3.2% | ||
| Q2 24 | 26.0% | 10.5% |
每股收益（稀释后）CSXIP
| Q1 26 | — | — | ||
| Q4 25 | $0.39 | $-4.76 | ||
| Q3 25 | $0.37 | $-2.09 | ||
| Q2 25 | $0.44 | $0.14 | ||
| Q1 25 | $0.34 | $-0.24 | ||
| Q4 24 | $0.38 | $-0.42 | ||
| Q3 24 | $0.46 | $0.42 | ||
| Q2 24 | $0.49 | $1.41 |
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 | $1.1B |
| 总债务越低越好 | $18.9B | $8.8B |
| 股东权益账面价值 | $13.6B | $14.8B |
| 总资产 | $44.2B | $38.0B |
| 负债/权益比越低杠杆越低 | 1.39× | 0.60× |
8季度趋势，按日历期对齐
现金及短期投资CSXIP
| Q1 26 | $1.1B | — | ||
| Q4 25 | $5.0M | $1.1B | ||
| Q3 25 | $6.0M | $995.0M | ||
| Q2 25 | $6.0M | $1.1B | ||
| Q1 25 | $8.0M | $1.2B | ||
| Q4 24 | $72.0M | $1.2B | ||
| Q3 24 | $12.0M | $1.2B | ||
| Q2 24 | $4.0M | $1.0B |
总债务CSXIP
| Q1 26 | $18.9B | — | ||
| Q4 25 | $18.2B | $8.8B | ||
| Q3 25 | $18.6B | $9.0B | ||
| Q2 25 | $18.6B | $9.7B | ||
| Q1 25 | $18.5B | $9.2B | ||
| Q4 24 | $17.9B | $5.4B | ||
| Q3 24 | $18.5B | $5.3B | ||
| Q2 24 | $18.0B | $5.3B |
股东权益CSXIP
| Q1 26 | $13.6B | — | ||
| Q4 25 | $13.2B | $14.8B | ||
| Q3 25 | $12.8B | $17.3B | ||
| Q2 25 | $12.4B | $18.6B | ||
| Q1 25 | $12.2B | $18.1B | ||
| Q4 24 | $12.5B | $8.2B | ||
| Q3 24 | $12.9B | $8.6B | ||
| Q2 24 | $12.6B | $8.6B |
总资产CSXIP
| Q1 26 | $44.2B | — | ||
| Q4 25 | $43.7B | $38.0B | ||
| Q3 25 | $43.3B | $40.6B | ||
| Q2 25 | $42.9B | $42.4B | ||
| Q1 25 | $43.2B | $41.2B | ||
| Q4 24 | $42.8B | $22.8B | ||
| Q3 24 | $43.1B | $23.2B | ||
| Q2 24 | $42.4B | $23.1B |
负债/权益比CSXIP
| Q1 26 | 1.39× | — | ||
| Q4 25 | 1.38× | 0.60× | ||
| Q3 25 | 1.45× | 0.52× | ||
| Q2 25 | 1.50× | 0.52× | ||
| Q1 25 | 1.52× | 0.51× | ||
| Q4 24 | 1.43× | 0.66× | ||
| Q3 24 | 1.43× | 0.62× | ||
| Q2 24 | 1.42× | 0.62× |
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 | $905.0M |
| 自由现金流经营现金流 - 资本支出 | $793.0M | $255.0M |
| 自由现金流率自由现金流/营收 | 22.8% | 5.4% |
| 资本支出强度资本支出/营收 | — | 13.7% |
| 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CSXIP
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.4B | $905.0M | ||
| Q3 25 | $1.3B | $605.0M | ||
| Q2 25 | $635.0M | $476.0M | ||
| Q1 25 | $1.3B | $-288.0M | ||
| Q4 24 | $1.4B | $397.0M | ||
| Q3 24 | $1.7B | $521.0M | ||
| Q2 24 | $1.1B | $365.0M |
自由现金流CSXIP
| Q1 26 | $793.0M | — | ||
| Q4 25 | $709.0M | $255.0M | ||
| Q3 25 | $607.0M | $150.0M | ||
| Q2 25 | $-141.0M | $54.0M | ||
| Q1 25 | $536.0M | $-618.0M | ||
| Q4 24 | $550.0M | $137.0M | ||
| Q3 24 | $1.1B | $309.0M | ||
| Q2 24 | $547.0M | $167.0M |
自由现金流率CSXIP
| Q1 26 | 22.8% | — | ||
| Q4 25 | 20.2% | 5.4% | ||
| Q3 25 | 16.9% | 2.4% | ||
| Q2 25 | -3.9% | 0.8% | ||
| Q1 25 | 15.7% | -10.5% | ||
| Q4 24 | 15.5% | 3.0% | ||
| Q3 24 | 29.3% | 6.6% | ||
| Q2 24 | 14.8% | 3.5% |
资本支出强度CSXIP
| Q1 26 | — | — | ||
| Q4 25 | 19.3% | 13.7% | ||
| Q3 25 | 20.4% | 7.3% | ||
| Q2 25 | 21.7% | 6.2% | ||
| Q1 25 | 21.0% | 5.6% | ||
| Q4 24 | 23.7% | 5.7% | ||
| Q3 24 | 17.3% | 4.5% | ||
| Q2 24 | 14.6% | 4.2% |
现金转化率CSXIP
| Q1 26 | 1.58× | — | ||
| Q4 25 | 1.93× | — | ||
| Q3 25 | 1.93× | — | ||
| Q2 25 | 0.77× | 6.35× | ||
| Q1 25 | 1.94× | — | ||
| Q4 24 | 1.93× | — | ||
| Q3 24 | 1.89× | 3.47× | ||
| Q2 24 | 1.13× | 0.73× |
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
IP
| Other | $2.4B | 52% |
| DS Smith Packaging | $2.3B | 48% |
