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CSX Corporation（CSX）与网易（NTES）财务数据对比。点击上方公司名可切换其他公司
网易的季度营收约是CSX Corporation的1.1倍（$4.0B vs $3.5B），网易净利率更高（31.0% vs 23.2%，领先7.8%），网易自由现金流更多（$1.8B vs $793.0M），过去两年网易的营收复合增速更高（9.7% 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。
网易由丁磊于1997年6月创立，是全球规模领先的互联网与网络游戏企业之一。公司核心业务涵盖PC及移动端网络游戏的研发与发行，同时布局广告服务、电子邮箱服务及电商平台等多元业务板块。
CSX vs NTES — 直观对比
营收规模更大
NTES
是对方的1.1倍
$3.5B
净利率更高
NTES
高出7.8%
23.2%
自由现金流更多
NTES
多$985.9M
$793.0M
两年增速更快
NTES
近两年复合增速
-3.0%
损益表 — Q1 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.5B | $4.0B |
| 净利润 | $807.0M | $1.2B |
| 毛利率 | — | 64.1% |
| 营业利润率 | 29.9% | 28.3% |
| 净利率 | 23.2% | 31.0% |
| 营收同比 | 1.7% | — |
| 净利润同比 | 401.2% | — |
| 每股收益（稀释后） | — | — |
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CSXNTES
| Q1 26 | $3.5B | — | ||
| Q4 25 | $3.5B | — | ||
| Q3 25 | $3.6B | $4.0B | ||
| Q2 25 | $3.6B | $3.9B | ||
| Q1 25 | $3.4B | $4.0B | ||
| Q4 24 | $3.5B | — | ||
| Q3 24 | $3.6B | $3.7B | ||
| Q2 24 | $3.7B | $3.5B |
净利润CSXNTES
| Q1 26 | $807.0M | — | ||
| Q4 25 | $720.0M | — | ||
| Q3 25 | $694.0M | $1.2B | ||
| Q2 25 | $829.0M | $1.3B | ||
| Q1 25 | $646.0M | $1.5B | ||
| Q4 24 | $720.0M | — | ||
| Q3 24 | $894.0M | $955.7M | ||
| Q2 24 | $963.0M | $939.6M |
毛利率CSXNTES
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 64.1% | ||
| Q2 25 | — | 64.7% | ||
| Q1 25 | — | 64.1% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 62.9% | ||
| Q2 24 | — | 62.9% |
营业利润率CSXNTES
| Q1 26 | 29.9% | — | ||
| Q4 25 | 31.6% | — | ||
| Q3 25 | 30.3% | 28.3% | ||
| Q2 25 | 35.9% | 32.5% | ||
| Q1 25 | 30.4% | 36.2% | ||
| Q4 24 | 30.8% | — | ||
| Q3 24 | 37.4% | 27.3% | ||
| Q2 24 | 39.1% | 27.4% |
净利率CSXNTES
| Q1 26 | 23.2% | — | ||
| Q4 25 | 20.5% | — | ||
| Q3 25 | 19.3% | 31.0% | ||
| Q2 25 | 23.2% | 32.6% | ||
| Q1 25 | 18.9% | 36.6% | ||
| Q4 24 | 20.3% | — | ||
| Q3 24 | 24.7% | 25.6% | ||
| Q2 24 | 26.0% | 26.8% |
每股收益（稀释后）CSXNTES
| Q1 26 | — | — | ||
| Q4 25 | $0.39 | — | ||
| Q3 25 | $0.37 | — | ||
| Q2 25 | $0.44 | — | ||
| Q1 25 | $0.34 | — | ||
| Q4 24 | $0.38 | — | ||
| Q3 24 | $0.46 | — | ||
| Q2 24 | $0.49 | — |
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 | $31.3B |
| 总债务越低越好 | $18.9B | — |
| 股东权益账面价值 | $13.6B | $160.8B |
| 总资产 | $44.2B | $214.5B |
| 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CSXNTES
| Q1 26 | $1.1B | — | ||
| Q4 25 | $5.0M | — | ||
| Q3 25 | $6.0M | $31.3B | ||
| Q2 25 | $6.0M | $54.4B | ||
| Q1 25 | $8.0M | $41.7B | ||
| Q4 24 | $72.0M | — | ||
| Q3 24 | $12.0M | $20.2B | ||
| Q2 24 | $4.0M | $19.0B |
总债务CSXNTES
| 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CSXNTES
| Q1 26 | $13.6B | — | ||
| Q4 25 | $13.2B | — | ||
| Q3 25 | $12.8B | $160.8B | ||
| Q2 25 | $12.4B | $154.0B | ||
| Q1 25 | $12.2B | $147.8B | ||
| Q4 24 | $12.5B | — | ||
| Q3 24 | $12.9B | $135.6B | ||
| Q2 24 | $12.6B | $134.2B |
总资产CSXNTES
| Q1 26 | $44.2B | — | ||
| Q4 25 | $43.7B | — | ||
| Q3 25 | $43.3B | $214.5B | ||
| Q2 25 | $42.9B | $208.5B | ||
| Q1 25 | $43.2B | $200.9B | ||
| Q4 24 | $42.8B | — | ||
| Q3 24 | $43.1B | $184.9B | ||
| Q2 24 | $42.4B | $183.3B |
负债/权益比CSXNTES
| 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 | $1.8B |
| 自由现金流经营现金流 - 资本支出 | $793.0M | $1.8B |
| 自由现金流率自由现金流/营收 | 22.8% | 44.7% |
| 资本支出强度资本支出/营收 | — | 1.0% |
| 现金转化率经营现金流/净利润 | 1.58× | 1.47× |
| 过去12个月自由现金流最近4个季度 | $2.0B | $6.3B |
8季度趋势，按日历期对齐
经营现金流CSXNTES
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.3B | $1.8B | ||
| Q2 25 | $635.0M | $1.5B | ||
| Q1 25 | $1.3B | $1.7B | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $1.7B | $1.5B | ||
| Q2 24 | $1.1B | $898.8M |
自由现金流CSXNTES
| Q1 26 | $793.0M | — | ||
| Q4 25 | $709.0M | — | ||
| Q3 25 | $607.0M | $1.8B | ||
| Q2 25 | $-141.0M | $1.5B | ||
| Q1 25 | $536.0M | $1.6B | ||
| Q4 24 | $550.0M | — | ||
| Q3 24 | $1.1B | $1.5B | ||
| Q2 24 | $547.0M | $875.6M |
自由现金流率CSXNTES
| Q1 26 | 22.8% | — | ||
| Q4 25 | 20.2% | — | ||
| Q3 25 | 16.9% | 44.7% | ||
| Q2 25 | -3.9% | 38.3% | ||
| Q1 25 | 15.7% | 40.4% | ||
| Q4 24 | 15.5% | — | ||
| Q3 24 | 29.3% | 38.9% | ||
| Q2 24 | 14.8% | 25.0% |
资本支出强度CSXNTES
| Q1 26 | — | — | ||
| Q4 25 | 19.3% | — | ||
| Q3 25 | 20.4% | 1.0% | ||
| Q2 25 | 21.7% | 0.7% | ||
| Q1 25 | 21.0% | 1.6% | ||
| Q4 24 | 23.7% | — | ||
| Q3 24 | 17.3% | 1.4% | ||
| Q2 24 | 14.6% | 0.7% |
现金转化率CSXNTES
| Q1 26 | 1.58× | — | ||
| Q4 25 | 1.93× | — | ||
| Q3 25 | 1.93× | 1.47× | ||
| Q2 25 | 0.77× | 1.20× | ||
| Q1 25 | 1.94× | 1.15× | ||
| Q4 24 | 1.93× | — | ||
| Q3 24 | 1.89× | 1.58× | ||
| Q2 24 | 1.13× | 0.96× |
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
NTES
| Games and related value-added services | $3.3B | 82% |
| NetEase Cloud Music | $275.9M | 7% |
| Youdao | $228.8M | 6% |
| Innovative businesses and others | $202.1M | 5% |
