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Custom Truck One Source, Inc.（CTOS）与明晟（MSCI）财务数据对比。点击上方公司名可切换其他公司
明晟的季度营收约是Custom Truck One Source, Inc.的1.8倍（$822.5M vs $461.6M），明晟净利率更高（34.6% vs -0.9%，领先35.5%），明晟同比增速更快（10.6% vs -12.6%），过去两年Custom Truck One Source, Inc.的营收复合增速更高（20.0% vs 10.0%）
Custom Truck One Source是北美领先的专用重型卡车及设备解决方案提供商，业务覆盖定制车辆制造、设备销售与租赁、售后配件供应及维保服务，主要服务基建、公用事业、建筑、能源等核心领域。
MSCI（明晟）是总部位于美国纽约的金融服务企业，为全球市场提供股票、固定收益、房地产指数、多资产组合分析工具及ESG、气候金融相关产品，旗下运营MSCI全球指数、MSCI新兴市场指数、MSCI全球所有国家（ACWI）指数等多款知名指数产品。
CTOS vs MSCI — 直观对比
营收规模更大
MSCI
是对方的1.8倍
$461.6M
营收增速更快
MSCI
高出23.2%
-12.6%
净利率更高
MSCI
高出35.5%
-0.9%
两年增速更快
CTOS
近两年复合增速
10.0%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $461.6M | $822.5M |
| 净利润 | $-4.1M | $284.7M |
| 毛利率 | 22.3% | — |
| 营业利润率 | 6.8% | 56.4% |
| 净利率 | -0.9% | 34.6% |
| 营收同比 | -12.6% | 10.6% |
| 净利润同比 | 76.9% | -6.8% |
| 每股收益（稀释后） | $-0.02 | $3.81 |
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CTOSMSCI
| Q1 26 | $461.6M | — | ||
| Q4 25 | $387.3M | $822.5M | ||
| Q3 25 | $359.9M | $793.4M | ||
| Q2 25 | $392.2M | $772.7M | ||
| Q1 25 | $307.1M | $745.8M | ||
| Q4 24 | $398.3M | $743.5M | ||
| Q3 24 | $337.5M | $724.7M | ||
| Q2 24 | $320.6M | $707.9M |
净利润CTOSMSCI
| Q1 26 | $-4.1M | — | ||
| Q4 25 | $20.9M | $284.7M | ||
| Q3 25 | $-5.8M | $325.4M | ||
| Q2 25 | $-28.4M | $303.6M | ||
| Q1 25 | $-17.8M | $288.6M | ||
| Q4 24 | $27.6M | $305.5M | ||
| Q3 24 | $-17.4M | $280.9M | ||
| Q2 24 | $-24.5M | $266.8M |
毛利率CTOSMSCI
| Q1 26 | 22.3% | — | ||
| Q4 25 | 31.8% | — | ||
| Q3 25 | 28.0% | — | ||
| Q2 25 | 26.1% | — | ||
| Q1 25 | 27.9% | — | ||
| Q4 24 | 29.7% | — | ||
| Q3 24 | 27.2% | — | ||
| Q2 24 | 27.8% | — |
营业利润率CTOSMSCI
| Q1 26 | 6.8% | — | ||
| Q4 25 | 13.4% | 56.4% | ||
| Q3 25 | 9.1% | 56.4% | ||
| Q2 25 | 7.1% | 55.0% | ||
| Q1 25 | 4.0% | 50.6% | ||
| Q4 24 | 16.9% | 54.5% | ||
| Q3 24 | 6.8% | 55.4% | ||
| Q2 24 | 5.5% | 54.0% |
净利率CTOSMSCI
| Q1 26 | -0.9% | — | ||
| Q4 25 | 5.4% | 34.6% | ||
| Q3 25 | -1.6% | 41.0% | ||
| Q2 25 | -7.2% | 39.3% | ||
| Q1 25 | -5.8% | 38.7% | ||
| Q4 24 | 6.9% | 41.1% | ||
| Q3 24 | -5.2% | 38.8% | ||
| Q2 24 | -7.6% | 37.7% |
每股收益（稀释后）CTOSMSCI
| Q1 26 | $-0.02 | — | ||
| Q4 25 | $0.10 | $3.81 | ||
| Q3 25 | $-0.03 | $4.25 | ||
| Q2 25 | $-0.13 | $3.92 | ||
| Q1 25 | $-0.08 | $3.71 | ||
| Q4 24 | $0.11 | $3.89 | ||
| Q3 24 | $-0.07 | $3.57 | ||
| Q2 24 | $-0.10 | $3.37 |
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 | $9.6M | $515.3M |
| 总债务越低越好 | $5.1M | $6.2B |
| 股东权益账面价值 | $805.2M | $-2.7B |
| 总资产 | $3.5B | $5.7B |
| 负债/权益比越低杠杆越低 | 0.01× | — |
8季度趋势，按日历期对齐
现金及短期投资CTOSMSCI
| Q1 26 | $9.6M | — | ||
| Q4 25 | $6.3M | $515.3M | ||
| Q3 25 | $13.1M | $400.1M | ||
| Q2 25 | $5.3M | $347.3M | ||
| Q1 25 | $5.4M | $360.7M | ||
| Q4 24 | $3.8M | $409.4M | ||
| Q3 24 | $8.4M | $501.0M | ||
| Q2 24 | $8.1M | $451.4M |
总债务CTOSMSCI
| Q1 26 | $5.1M | — | ||
| Q4 25 | $1.6B | $6.2B | ||
| Q3 25 | $1.6B | $5.5B | ||
| Q2 25 | $1.6B | $4.5B | ||
| Q1 25 | $1.6B | $4.5B | ||
| Q4 24 | $1.5B | $4.5B | ||
| Q3 24 | $1.6B | $4.5B | ||
| Q2 24 | $1.5B | $4.5B |
股东权益CTOSMSCI
| Q1 26 | $805.2M | — | ||
| Q4 25 | $809.1M | $-2.7B | ||
| Q3 25 | $784.7M | $-1.9B | ||
| Q2 25 | $790.1M | $-886.2M | ||
| Q1 25 | $813.4M | $-958.6M | ||
| Q4 24 | $861.3M | $-940.0M | ||
| Q3 24 | $837.5M | $-751.0M | ||
| Q2 24 | $856.7M | $-734.5M |
总资产CTOSMSCI
| Q1 26 | $3.5B | — | ||
| Q4 25 | $3.4B | $5.7B | ||
| Q3 25 | $3.5B | $5.4B | ||
| Q2 25 | $3.6B | $5.4B | ||
| Q1 25 | $3.5B | $5.3B | ||
| Q4 24 | $3.5B | $5.4B | ||
| Q3 24 | $3.6B | $5.4B | ||
| Q2 24 | $3.5B | $5.5B |
负债/权益比CTOSMSCI
| Q1 26 | 0.01× | — | ||
| Q4 25 | 2.03× | — | ||
| Q3 25 | 2.10× | — | ||
| Q2 25 | 2.04× | — | ||
| Q1 25 | 1.97× | — | ||
| Q4 24 | 1.77× | — | ||
| Q3 24 | 1.87× | — | ||
| Q2 24 | 1.79× | — |
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 | — | $501.1M |
| 自由现金流经营现金流 - 资本支出 | — | $488.7M |
| 自由现金流率自由现金流/营收 | — | 59.4% |
| 资本支出强度资本支出/营收 | — | 1.5% |
| 现金转化率经营现金流/净利润 | — | 1.76× |
| 过去12个月自由现金流最近4个季度 | — | $1.5B |
8季度趋势，按日历期对齐
经营现金流CTOSMSCI
| Q1 26 | — | — | ||
| Q4 25 | $47.3M | $501.1M | ||
| Q3 25 | $81.5M | $449.4M | ||
| Q2 25 | $125.7M | $336.1M | ||
| Q1 25 | $55.6M | $301.7M | ||
| Q4 24 | $82.1M | $430.6M | ||
| Q3 24 | $16.5M | $421.6M | ||
| Q2 24 | $37.8M | $349.2M |
自由现金流CTOSMSCI
| Q1 26 | — | — | ||
| Q4 25 | — | $488.7M | ||
| Q3 25 | — | $445.5M | ||
| Q2 25 | — | $324.7M | ||
| Q1 25 | — | $290.2M | ||
| Q4 24 | — | $416.4M | ||
| Q3 24 | — | $415.0M | ||
| Q2 24 | — | $340.6M |
自由现金流率CTOSMSCI
| Q1 26 | — | — | ||
| Q4 25 | — | 59.4% | ||
| Q3 25 | — | 56.2% | ||
| Q2 25 | — | 42.0% | ||
| Q1 25 | — | 38.9% | ||
| Q4 24 | — | 56.0% | ||
| Q3 24 | — | 57.3% | ||
| Q2 24 | — | 48.1% |
资本支出强度CTOSMSCI
| Q1 26 | — | — | ||
| Q4 25 | — | 1.5% | ||
| Q3 25 | — | 0.5% | ||
| Q2 25 | — | 1.5% | ||
| Q1 25 | — | 1.5% | ||
| Q4 24 | — | 1.9% | ||
| Q3 24 | — | 0.9% | ||
| Q2 24 | — | 1.2% |
现金转化率CTOSMSCI
| Q1 26 | — | — | ||
| Q4 25 | 2.27× | 1.76× | ||
| Q3 25 | — | 1.38× | ||
| Q2 25 | — | 1.11× | ||
| Q1 25 | — | 1.05× | ||
| Q4 24 | 2.98× | 1.41× | ||
| Q3 24 | — | 1.50× | ||
| Q2 24 | — | 1.31× |
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
CTOS
| Equipment sales | $292.6M | 63% |
| Rental revenue | $137.2M | 30% |
| Parts sales and services | $31.8M | 7% |
MSCI
| Recurring Subscriptions | $246.4M | 30% |
| Asset Based Fees | $211.7M | 26% |
| Analytics Segment | $182.3M | 22% |
| Sustainability And Climate Segment | $90.3M | 11% |
| Other | $70.9M | 9% |
| Non Recurring | $21.1M | 3% |
