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CSX Corporation（CSX）与摩托罗拉解决方案（MSI）财务数据对比。点击上方公司名可切换其他公司
CSX Corporation的季度营收约是摩托罗拉解决方案的1.0倍（$3.5B vs $3.4B），CSX Corporation净利率更高（23.2% vs 19.2%，领先4.0%），摩托罗拉解决方案同比增速更快（12.3% vs 1.7%），摩托罗拉解决方案自由现金流更多（$1.1B vs $793.0M），过去两年摩托罗拉解决方案的营收复合增速更高（18.9% 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。
摩托罗拉解决方案是美国科技企业，总部位于伊利诺伊州芝加哥，2011年由摩托罗拉公司拆分成立。公司面向公共安全部门及企业客户，提供关键通信、视频安防、指挥中心技术等安全防护类产品与服务。
CSX vs MSI — 直观对比
营收规模更大
CSX
是对方的1.0倍
$3.4B
营收增速更快
MSI
高出10.6%
1.7%
净利率更高
CSX
高出4.0%
19.2%
自由现金流更多
MSI
多$349.0M
$793.0M
两年增速更快
MSI
近两年复合增速
-3.0%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.5B | $3.4B |
| 净利润 | $807.0M | $649.0M |
| 毛利率 | — | 52.3% |
| 营业利润率 | 29.9% | 27.9% |
| 净利率 | 23.2% | 19.2% |
| 营收同比 | 1.7% | 12.3% |
| 净利润同比 | 401.2% | 6.2% |
| 每股收益（稀释后） | — | $3.85 |
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CSXMSI
| Q1 26 | $3.5B | — | ||
| Q4 25 | $3.5B | $3.4B | ||
| Q3 25 | $3.6B | $3.0B | ||
| Q2 25 | $3.6B | $2.8B | ||
| Q1 25 | $3.4B | $2.5B | ||
| Q4 24 | $3.5B | $3.0B | ||
| Q3 24 | $3.6B | $2.8B | ||
| Q2 24 | $3.7B | $2.6B |
净利润CSXMSI
| Q1 26 | $807.0M | — | ||
| Q4 25 | $720.0M | $649.0M | ||
| Q3 25 | $694.0M | $562.0M | ||
| Q2 25 | $829.0M | $513.0M | ||
| Q1 25 | $646.0M | $430.0M | ||
| Q4 24 | $720.0M | $611.0M | ||
| Q3 24 | $894.0M | $562.0M | ||
| Q2 24 | $963.0M | $443.0M |
毛利率CSXMSI
| Q1 26 | — | — | ||
| Q4 25 | — | 52.3% | ||
| Q3 25 | — | 51.6% | ||
| Q2 25 | — | 51.1% | ||
| Q1 25 | — | 51.4% | ||
| Q4 24 | — | 51.4% | ||
| Q3 24 | — | 51.4% | ||
| Q2 24 | — | 51.0% |
营业利润率CSXMSI
| Q1 26 | 29.9% | — | ||
| Q4 25 | 31.6% | 27.9% | ||
| Q3 25 | 30.3% | 25.6% | ||
| Q2 25 | 35.9% | 25.0% | ||
| Q1 25 | 30.4% | 23.0% | ||
| Q4 24 | 30.8% | 27.0% | ||
| Q3 24 | 37.4% | 25.5% | ||
| Q2 24 | 39.1% | 24.5% |
净利率CSXMSI
| Q1 26 | 23.2% | — | ||
| Q4 25 | 20.5% | 19.2% | ||
| Q3 25 | 19.3% | 18.7% | ||
| Q2 25 | 23.2% | 18.6% | ||
| Q1 25 | 18.9% | 17.0% | ||
| Q4 24 | 20.3% | 20.3% | ||
| Q3 24 | 24.7% | 20.1% | ||
| Q2 24 | 26.0% | 16.9% |
每股收益（稀释后）CSXMSI
| Q1 26 | — | — | ||
| Q4 25 | $0.39 | $3.85 | ||
| Q3 25 | $0.37 | $3.33 | ||
| Q2 25 | $0.44 | $3.04 | ||
| Q1 25 | $0.34 | $2.53 | ||
| Q4 24 | $0.38 | $3.57 | ||
| Q3 24 | $0.46 | $3.29 | ||
| Q2 24 | $0.49 | $2.60 |
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 | $1.2B |
| 总债务越低越好 | $18.9B | — |
| 股东权益账面价值 | $13.6B | $2.4B |
| 总资产 | $44.2B | $19.4B |
| 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CSXMSI
| Q1 26 | $1.1B | — | ||
| Q4 25 | $5.0M | $1.2B | ||
| Q3 25 | $6.0M | $894.0M | ||
| Q2 25 | $6.0M | $3.2B | ||
| Q1 25 | $8.0M | $1.6B | ||
| Q4 24 | $72.0M | $2.1B | ||
| Q3 24 | $12.0M | $1.4B | ||
| Q2 24 | $4.0M | $1.4B |
总债务CSXMSI
| Q1 26 | $18.9B | — | ||
| Q4 25 | $18.2B | — | ||
| Q3 25 | $18.6B | — | ||
| Q2 25 | $18.6B | — | ||
| Q1 25 | $18.5B | — | ||
| Q4 24 | $17.9B | — | ||
| Q3 24 | $18.5B | — | ||
| Q2 24 | $18.0B | — |
股东权益CSXMSI
| Q1 26 | $13.6B | — | ||
| Q4 25 | $13.2B | $2.4B | ||
| Q3 25 | $12.8B | $2.3B | ||
| Q2 25 | $12.4B | $2.0B | ||
| Q1 25 | $12.2B | $1.6B | ||
| Q4 24 | $12.5B | $1.7B | ||
| Q3 24 | $12.9B | $1.3B | ||
| Q2 24 | $12.6B | $802.0M |
总资产CSXMSI
| Q1 26 | $44.2B | — | ||
| Q4 25 | $43.7B | $19.4B | ||
| Q3 25 | $43.3B | $18.8B | ||
| Q2 25 | $42.9B | $16.4B | ||
| Q1 25 | $43.2B | $14.4B | ||
| Q4 24 | $42.8B | $14.6B | ||
| Q3 24 | $43.1B | $13.9B | ||
| Q2 24 | $42.4B | $13.3B |
负债/权益比CSXMSI
| Q1 26 | 1.39× | — | ||
| Q4 25 | 1.38× | — | ||
| Q3 25 | 1.45× | — | ||
| Q2 25 | 1.50× | — | ||
| Q1 25 | 1.52× | — | ||
| Q4 24 | 1.43× | — | ||
| Q3 24 | 1.43× | — | ||
| Q2 24 | 1.42× | — |
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 | $1.3B |
| 自由现金流经营现金流 - 资本支出 | $793.0M | $1.1B |
| 自由现金流率自由现金流/营收 | 22.8% | 33.8% |
| 资本支出强度资本支出/营收 | — | 3.4% |
| 现金转化率经营现金流/净利润 | 1.58× | 1.94× |
| 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CSXMSI
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.4B | $1.3B | ||
| Q3 25 | $1.3B | $798.0M | ||
| Q2 25 | $635.0M | $273.0M | ||
| Q1 25 | $1.3B | $510.0M | ||
| Q4 24 | $1.4B | $1.1B | ||
| Q3 24 | $1.7B | $759.0M | ||
| Q2 24 | $1.1B | $180.0M |
自由现金流CSXMSI
| Q1 26 | $793.0M | — | ||
| Q4 25 | $709.0M | $1.1B | ||
| Q3 25 | $607.0M | $732.0M | ||
| Q2 25 | $-141.0M | $225.0M | ||
| Q1 25 | $536.0M | $473.0M | ||
| Q4 24 | $550.0M | $984.0M | ||
| Q3 24 | $1.1B | $702.0M | ||
| Q2 24 | $547.0M | $112.0M |
自由现金流率CSXMSI
| Q1 26 | 22.8% | — | ||
| Q4 25 | 20.2% | 33.8% | ||
| Q3 25 | 16.9% | 24.3% | ||
| Q2 25 | -3.9% | 8.1% | ||
| Q1 25 | 15.7% | 18.7% | ||
| Q4 24 | 15.5% | 32.7% | ||
| Q3 24 | 29.3% | 25.2% | ||
| Q2 24 | 14.8% | 4.3% |
资本支出强度CSXMSI
| Q1 26 | — | — | ||
| Q4 25 | 19.3% | 3.4% | ||
| Q3 25 | 20.4% | 2.2% | ||
| Q2 25 | 21.7% | 1.7% | ||
| Q1 25 | 21.0% | 1.5% | ||
| Q4 24 | 23.7% | 2.9% | ||
| Q3 24 | 17.3% | 2.0% | ||
| Q2 24 | 14.6% | 2.6% |
现金转化率CSXMSI
| Q1 26 | 1.58× | — | ||
| Q4 25 | 1.93× | 1.94× | ||
| Q3 25 | 1.93× | 1.42× | ||
| Q2 25 | 0.77× | 0.53× | ||
| Q1 25 | 1.94× | 1.19× | ||
| Q4 24 | 1.93× | 1.75× | ||
| Q3 24 | 1.89× | 1.35× | ||
| Q2 24 | 1.13× | 0.41× |
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
MSI
| Product And Systems Integration Segment | $1.5B | 45% |
| Services And Software Segment | $833.0M | 25% |
| Sales Channel Through Intermediary | $772.0M | 23% |
| Command Center Software | $258.0M | 8% |
