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CSX Corporation（CSX）与MARKEL GROUP INC.（MKL）财务数据对比。点击上方公司名可切换其他公司
MARKEL GROUP INC.的季度营收约是CSX Corporation的1.0倍（$3.6B vs $3.5B），CSX Corporation净利率更高（23.2% vs 16.1%，领先7.0%），CSX Corporation同比增速更快（1.7% vs -6.9%），CSX Corporation自由现金流更多（$793.0M vs $599.1M），过去两年CSX Corporation的营收复合增速更高（-3.0% vs -10.5%）
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。
Markel集团是总部位于美国弗吉尼亚州里士满的综合性企业集团，1930年最初以保险公司的身份创立，发展至今业务已覆盖保险承保、投资管理等多个板块，在全球相关行业拥有较高的市场知名度与稳定的合作网络。
CSX vs MKL — 直观对比
营收规模更大
MKL
是对方的1.0倍
$3.5B
营收增速更快
CSX
高出8.6%
-6.9%
净利率更高
CSX
高出7.0%
16.1%
自由现金流更多
CSX
多$193.9M
$599.1M
两年增速更快
CSX
近两年复合增速
-10.5%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.5B | $3.6B |
| 净利润 | $807.0M | $576.8M |
| 毛利率 | — | — |
| 营业利润率 | 29.9% | 22.2% |
| 净利率 | 23.2% | 16.1% |
| 营收同比 | 1.7% | -6.9% |
| 净利润同比 | 401.2% | 5.0% |
| 每股收益（稀释后） | — | $48.22 |
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CSXMKL
| Q1 26 | $3.5B | — | ||
| Q4 25 | $3.5B | $3.6B | ||
| Q3 25 | $3.6B | $3.9B | ||
| Q2 25 | $3.6B | $4.6B | ||
| Q1 25 | $3.4B | $3.4B | ||
| Q4 24 | $3.5B | $3.8B | ||
| Q3 24 | $3.6B | $4.6B | ||
| Q2 24 | $3.7B | $3.7B |
净利润CSXMKL
| Q1 26 | $807.0M | — | ||
| Q4 25 | $720.0M | $576.8M | ||
| Q3 25 | $694.0M | $751.3M | ||
| Q2 25 | $829.0M | $657.1M | ||
| Q1 25 | $646.0M | $121.7M | ||
| Q4 24 | $720.0M | $549.2M | ||
| Q3 24 | $894.0M | $905.0M | ||
| Q2 24 | $963.0M | $267.7M |
营业利润率CSXMKL
| Q1 26 | 29.9% | — | ||
| Q4 25 | 31.6% | 22.2% | ||
| Q3 25 | 30.3% | 25.7% | ||
| Q2 25 | 35.9% | 24.1% | ||
| Q1 25 | 30.4% | 8.3% | ||
| Q4 24 | 30.8% | 15.5% | ||
| Q3 24 | 37.4% | 29.7% | ||
| Q2 24 | 39.1% | 11.1% |
净利率CSXMKL
| Q1 26 | 23.2% | — | ||
| Q4 25 | 20.5% | 16.1% | ||
| Q3 25 | 19.3% | 19.1% | ||
| Q2 25 | 23.2% | 14.3% | ||
| Q1 25 | 18.9% | 3.6% | ||
| Q4 24 | 20.3% | 14.3% | ||
| Q3 24 | 24.7% | 19.6% | ||
| Q2 24 | 26.0% | 7.2% |
每股收益（稀释后）CSXMKL
| Q1 26 | — | — | ||
| Q4 25 | $0.39 | $48.22 | ||
| Q3 25 | $0.37 | $59.25 | ||
| Q2 25 | $0.44 | $49.67 | ||
| Q1 25 | $0.34 | $12.08 | ||
| Q4 24 | $0.38 | $39.02 | ||
| Q3 24 | $0.46 | $66.25 | ||
| Q2 24 | $0.49 | $18.62 |
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 | $4.0B |
| 总债务越低越好 | $18.9B | $4.3B |
| 股东权益账面价值 | $13.6B | $18.6B |
| 总资产 | $44.2B | $68.9B |
| 负债/权益比越低杠杆越低 | 1.39× | 0.23× |
8季度趋势，按日历期对齐
现金及短期投资CSXMKL
| Q1 26 | $1.1B | — | ||
| Q4 25 | $5.0M | $4.0B | ||
| Q3 25 | $6.0M | $4.0B | ||
| Q2 25 | $6.0M | $3.7B | ||
| Q1 25 | $8.0M | $4.2B | ||
| Q4 24 | $72.0M | $3.7B | ||
| Q3 24 | $12.0M | $3.9B | ||
| Q2 24 | $4.0M | $3.5B |
总债务CSXMKL
| Q1 26 | $18.9B | — | ||
| Q4 25 | $18.2B | $4.3B | ||
| Q3 25 | $18.6B | $4.3B | ||
| Q2 25 | $18.6B | $4.4B | ||
| Q1 25 | $18.5B | $4.4B | ||
| Q4 24 | $17.9B | $4.3B | ||
| Q3 24 | $18.5B | $4.4B | ||
| Q2 24 | $18.0B | $4.4B |
股东权益CSXMKL
| Q1 26 | $13.6B | — | ||
| Q4 25 | $13.2B | $18.6B | ||
| Q3 25 | $12.8B | $18.0B | ||
| Q2 25 | $12.4B | $17.3B | ||
| Q1 25 | $12.2B | $17.1B | ||
| Q4 24 | $12.5B | $16.9B | ||
| Q3 24 | $12.9B | $17.0B | ||
| Q2 24 | $12.6B | $15.9B |
总资产CSXMKL
| Q1 26 | $44.2B | — | ||
| Q4 25 | $43.7B | $68.9B | ||
| Q3 25 | $43.3B | $67.4B | ||
| Q2 25 | $42.9B | $66.8B | ||
| Q1 25 | $43.2B | $64.6B | ||
| Q4 24 | $42.8B | $61.9B | ||
| Q3 24 | $43.1B | $62.3B | ||
| Q2 24 | $42.4B | $59.7B |
负债/权益比CSXMKL
| Q1 26 | 1.39× | — | ||
| Q4 25 | 1.38× | 0.23× | ||
| Q3 25 | 1.45× | 0.24× | ||
| Q2 25 | 1.50× | 0.25× | ||
| Q1 25 | 1.52× | 0.26× | ||
| Q4 24 | 1.43× | 0.26× | ||
| Q3 24 | 1.43× | 0.26× | ||
| Q2 24 | 1.42× | 0.28× |
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 | $662.2M |
| 自由现金流经营现金流 - 资本支出 | $793.0M | $599.1M |
| 自由现金流率自由现金流/营收 | 22.8% | 16.7% |
| 资本支出强度资本支出/营收 | — | 1.8% |
| 现金转化率经营现金流/净利润 | 1.58× | 1.15× |
| 过去12个月自由现金流最近4个季度 | $2.0B | $2.6B |
8季度趋势，按日历期对齐
经营现金流CSXMKL
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.4B | $662.2M | ||
| Q3 25 | $1.3B | $1.2B | ||
| Q2 25 | $635.0M | $504.4M | ||
| Q1 25 | $1.3B | $376.2M | ||
| Q4 24 | $1.4B | $493.9M | ||
| Q3 24 | $1.7B | $890.8M | ||
| Q2 24 | $1.1B | $578.6M |
自由现金流CSXMKL
| Q1 26 | $793.0M | — | ||
| Q4 25 | $709.0M | $599.1M | ||
| Q3 25 | $607.0M | $1.2B | ||
| Q2 25 | $-141.0M | $453.8M | ||
| Q1 25 | $536.0M | $335.5M | ||
| Q4 24 | $550.0M | $420.0M | ||
| Q3 24 | $1.1B | $838.9M | ||
| Q2 24 | $547.0M | $521.4M |
自由现金流率CSXMKL
| Q1 26 | 22.8% | — | ||
| Q4 25 | 20.2% | 16.7% | ||
| Q3 25 | 16.9% | 29.6% | ||
| Q2 25 | -3.9% | 9.9% | ||
| Q1 25 | 15.7% | 9.9% | ||
| Q4 24 | 15.5% | 10.9% | ||
| Q3 24 | 29.3% | 18.2% | ||
| Q2 24 | 14.8% | 14.1% |
资本支出强度CSXMKL
| Q1 26 | — | — | ||
| Q4 25 | 19.3% | 1.8% | ||
| Q3 25 | 20.4% | 1.3% | ||
| Q2 25 | 21.7% | 1.1% | ||
| Q1 25 | 21.0% | 1.2% | ||
| Q4 24 | 23.7% | 1.9% | ||
| Q3 24 | 17.3% | 1.1% | ||
| Q2 24 | 14.6% | 1.5% |
现金转化率CSXMKL
| Q1 26 | 1.58× | — | ||
| Q4 25 | 1.93× | 1.15× | ||
| Q3 25 | 1.93× | 1.62× | ||
| Q2 25 | 0.77× | 0.77× | ||
| Q1 25 | 1.94× | 3.09× | ||
| Q4 24 | 1.93× | 0.90× | ||
| Q3 24 | 1.89× | 0.98× | ||
| Q2 24 | 1.13× | 2.16× |
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
MKL
| Industrial | $1.6B | 45% |
| Consumer And Other | $958.3M | 27% |
| Financial | $737.0M | 21% |
| Other | $198.8M | 6% |
| Corporate Operations | $52.0M | 1% |
| Revenue From Contract With Customer | $10.5M | 0% |
