vs
QWEST CORP（CTBB）与Shift4 Payments, Inc.（FOUR）财务数据对比。点击上方公司名可切换其他公司
Shift4 Payments, Inc.的季度营收约是QWEST CORP的1.1倍（$1.2B vs $1.1B），Shift4 Payments, Inc.净利率更高（3.4% vs -187.5%，领先190.8%），Shift4 Payments, Inc.同比增速更快（34.0% vs -15.0%），Shift4 Payments, Inc.自由现金流更多（$222.5M vs $160.0M），过去两年Shift4 Payments, Inc.的营收复合增速更高（29.6% vs -8.6%）
奎斯特公司（以CenturyLink QC名义运营）是一家隶属于 lumen Technologies 的地区性贝尔运营公司。其前身为1911年成立的山地电话电报公司，先后更名为山地贝尔、美国西部通讯，2000年改为现名，业务整合了原Malheur Bell、西北贝尔、太平洋西北贝尔的运营资源。
Shift4 Payments是美国支付处理服务商，总部位于宾夕法尼亚州阿伦敦，1999年由贾里德·艾萨克曼创立。公司为零售、酒店、休闲、餐饮等行业超20万家商户提供支付处理服务，主营移动支付软硬件等商业技术，2020年于纽约证券交易所挂牌上市。
CTBB vs FOUR — 直观对比
营收规模更大
FOUR
是对方的1.1倍
$1.1B
营收增速更快
FOUR
高出49.0%
-15.0%
净利率更高
FOUR
高出190.8%
-187.5%
自由现金流更多
FOUR
多$62.5M
$160.0M
两年增速更快
FOUR
近两年复合增速
-8.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.2B |
| 净利润 | $-2.1B | $40.2M |
| 毛利率 | 67.9% | — |
| 营业利润率 | -183.2% | 10.8% |
| 净利率 | -187.5% | 3.4% |
| 营收同比 | -15.0% | 34.0% |
| 净利润同比 | -627.9% | -65.3% |
| 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CTBBFOUR
| Q4 25 | $1.1B | $1.2B | ||
| Q3 25 | $1.1B | $1.2B | ||
| Q2 25 | $1.1B | $966.2M | ||
| Q1 25 | $1.2B | $848.3M | ||
| Q4 24 | $1.3B | $887.0M | ||
| Q3 24 | $1.3B | $909.2M | ||
| Q2 24 | $1.3B | $827.0M | ||
| Q1 24 | $1.3B | $707.4M |
净利润CTBBFOUR
| Q4 25 | $-2.1B | $40.2M | ||
| Q3 25 | $176.0M | $28.1M | ||
| Q2 25 | $277.0M | $34.0M | ||
| Q1 25 | $284.0M | $16.7M | ||
| Q4 24 | $391.0M | $116.0M | ||
| Q3 24 | $365.0M | $53.8M | ||
| Q2 24 | $378.0M | $39.2M | ||
| Q1 24 | $353.0M | $20.6M |
毛利率CTBBFOUR
| Q4 25 | 67.9% | — | ||
| Q3 25 | 65.3% | — | ||
| Q2 25 | 68.2% | — | ||
| Q1 25 | 69.3% | — | ||
| Q4 24 | 71.2% | — | ||
| Q3 24 | 69.9% | — | ||
| Q2 24 | 71.6% | — | ||
| Q1 24 | 71.9% | — |
营业利润率CTBBFOUR
| Q4 25 | -183.2% | 10.8% | ||
| Q3 25 | 22.3% | 9.7% | ||
| Q2 25 | 33.1% | 8.6% | ||
| Q1 25 | 33.7% | 3.0% | ||
| Q4 24 | 40.7% | 9.7% | ||
| Q3 24 | 38.5% | 8.8% | ||
| Q2 24 | 40.3% | 7.2% | ||
| Q1 24 | 37.6% | 3.0% |
净利率CTBBFOUR
| Q4 25 | -187.5% | 3.4% | ||
| Q3 25 | 16.1% | 2.4% | ||
| Q2 25 | 24.3% | 3.5% | ||
| Q1 25 | 24.7% | 2.0% | ||
| Q4 24 | 30.2% | 13.1% | ||
| Q3 24 | 28.2% | 5.9% | ||
| Q2 24 | 28.7% | 4.7% | ||
| Q1 24 | 26.8% | 2.9% |
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 | $39.0M | $964.0M |
| 总债务越低越好 | $1.7B | $4.5B |
| 股东权益账面价值 | $10.9B | $1.4B |
| 总资产 | $15.8B | $8.7B |
| 负债/权益比越低杠杆越低 | 0.15× | 3.15× |
8季度趋势，按日历期对齐
现金及短期投资CTBBFOUR
| Q4 25 | $39.0M | $964.0M | ||
| Q3 25 | $36.0M | $1.5B | ||
| Q2 25 | $25.0M | $3.0B | ||
| Q1 25 | $40.0M | $1.2B | ||
| Q4 24 | $26.0M | $1.2B | ||
| Q3 24 | $22.0M | $1.4B | ||
| Q2 24 | $18.0M | $205.0M | ||
| Q1 24 | $14.0M | $522.9M |
总债务CTBBFOUR
| Q4 25 | $1.7B | $4.5B | ||
| Q3 25 | $1.7B | $4.7B | ||
| Q2 25 | $1.7B | $3.7B | ||
| Q1 25 | $1.7B | $2.8B | ||
| Q4 24 | $1.7B | $2.8B | ||
| Q3 24 | $1.7B | — | ||
| Q2 24 | $1.9B | — | ||
| Q1 24 | $1.9B | — |
股东权益CTBBFOUR
| Q4 25 | $10.9B | $1.4B | ||
| Q3 25 | $13.0B | $1.7B | ||
| Q2 25 | $12.8B | $1.6B | ||
| Q1 25 | $12.5B | $805.2M | ||
| Q4 24 | $12.2B | $806.6M | ||
| Q3 24 | $11.9B | $811.8M | ||
| Q2 24 | $11.5B | $700.8M | ||
| Q1 24 | $11.1B | $674.5M |
总资产CTBBFOUR
| Q4 25 | $15.8B | $8.7B | ||
| Q3 25 | $17.9B | $9.0B | ||
| Q2 25 | $17.8B | $7.0B | ||
| Q1 25 | $17.6B | $5.0B | ||
| Q4 24 | $17.4B | $5.0B | ||
| Q3 24 | $17.0B | $5.0B | ||
| Q2 24 | $16.6B | $3.5B | ||
| Q1 24 | $16.4B | $3.4B |
负债/权益比CTBBFOUR
| Q4 25 | 0.15× | 3.15× | ||
| Q3 25 | 0.13× | 2.83× | ||
| Q2 25 | 0.13× | 2.34× | ||
| Q1 25 | 0.13× | 3.53× | ||
| Q4 24 | 0.14× | 3.52× | ||
| Q3 24 | 0.14× | — | ||
| Q2 24 | 0.17× | — | ||
| Q1 24 | 0.17× | — |
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 | $402.0M | $223.7M |
| 自由现金流经营现金流 - 资本支出 | $160.0M | $222.5M |
| 自由现金流率自由现金流/营收 | 14.5% | 18.7% |
| 资本支出强度资本支出/营收 | 22.0% | 0.1% |
| 现金转化率经营现金流/净利润 | — | 5.56× |
| 过去12个月自由现金流最近4个季度 | $938.0M | $624.0M |
8季度趋势，按日历期对齐
经营现金流CTBBFOUR
| Q4 25 | $402.0M | $223.7M | ||
| Q3 25 | $427.0M | $171.8M | ||
| Q2 25 | $480.0M | $141.9M | ||
| Q1 25 | $453.0M | $96.6M | ||
| Q4 24 | $548.0M | $145.4M | ||
| Q3 24 | $627.0M | $182.1M | ||
| Q2 24 | $548.0M | $116.1M | ||
| Q1 24 | $471.0M | $56.7M |
自由现金流CTBBFOUR
| Q4 25 | $160.0M | $222.5M | ||
| Q3 25 | $252.0M | $165.4M | ||
| Q2 25 | $276.0M | $141.0M | ||
| Q1 25 | $250.0M | $95.1M | ||
| Q4 24 | $277.0M | $143.8M | ||
| Q3 24 | $396.0M | $180.1M | ||
| Q2 24 | $280.0M | $113.9M | ||
| Q1 24 | $194.0M | $55.4M |
自由现金流率CTBBFOUR
| Q4 25 | 14.5% | 18.7% | ||
| Q3 25 | 23.1% | 14.1% | ||
| Q2 25 | 24.2% | 14.6% | ||
| Q1 25 | 21.7% | 11.2% | ||
| Q4 24 | 21.4% | 16.2% | ||
| Q3 24 | 30.6% | 19.8% | ||
| Q2 24 | 21.3% | 13.8% | ||
| Q1 24 | 14.7% | 7.8% |
资本支出强度CTBBFOUR
| Q4 25 | 22.0% | 0.1% | ||
| Q3 25 | 16.0% | 0.5% | ||
| Q2 25 | 17.9% | 0.1% | ||
| Q1 25 | 17.6% | 0.2% | ||
| Q4 24 | 20.9% | 0.2% | ||
| Q3 24 | 17.9% | 0.2% | ||
| Q2 24 | 20.4% | 0.3% | ||
| Q1 24 | 21.0% | 0.2% |
现金转化率CTBBFOUR
| Q4 25 | — | 5.56× | ||
| Q3 25 | 2.43× | 6.11× | ||
| Q2 25 | 1.73× | 4.17× | ||
| Q1 25 | 1.60× | 5.78× | ||
| Q4 24 | 1.40× | 1.25× | ||
| Q3 24 | 1.72× | 3.38× | ||
| Q2 24 | 1.45× | 2.96× | ||
| Q1 24 | 1.33× | 2.75× |
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
CTBB
| Nonrelated Party | $665.0M | 60% |
| Other | $436.0M | 40% |
FOUR
| Payments Based Revenue | $788.8M | 66% |
| Other | $255.0M | 21% |
| Subscription And Other Revenues | $144.8M | 12% |
