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Custom Truck One Source, Inc.（CTOS）与PIPER SANDLER COMPANIES（PIPR）财务数据对比。点击上方公司名可切换其他公司
PIPER SANDLER COMPANIES的季度营收约是Custom Truck One Source, Inc.的1.6倍（$667.0M vs $422.2M），PIPER SANDLER COMPANIES净利率更高（17.1% vs -4.2%，领先21.3%），PIPER SANDLER COMPANIES同比增速更快（37.4% vs -8.5%），过去两年PIPER SANDLER COMPANIES的营收复合增速更高（39.2% vs 14.8%）
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。
Piper Sandler是一家美国跨国投资银行及金融服务提供商，核心业务覆盖并购重组、财务重整、公开募股、公共财政、机构经纪、投资管理、证券研究等领域，通过旗下核心子公司Piper Sandler & Co.为企业、机构投资者及公共组织提供专业金融服务。
CTOS vs PIPR — 直观对比
营收规模更大
PIPR
是对方的1.6倍
$422.2M
营收增速更快
PIPR
高出45.9%
-8.5%
净利率更高
PIPR
高出21.3%
-4.2%
两年增速更快
PIPR
近两年复合增速
14.8%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $422.2M | $667.0M |
| 净利润 | $-17.8M | $114.0M |
| 毛利率 | 20.3% | — |
| 营业利润率 | 2.9% | 28.3% |
| 净利率 | -4.2% | 17.1% |
| 营收同比 | -8.5% | 37.4% |
| 净利润同比 | -333.7% | 65.0% |
| 每股收益（稀释后） | $-0.08 | $6.41 |
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CTOSPIPR
| Q1 26 | $422.2M | — | ||
| Q4 25 | $387.3M | $667.0M | ||
| Q3 25 | $359.9M | $480.1M | ||
| Q2 25 | $392.2M | $398.6M | ||
| Q1 25 | $307.1M | $358.6M | ||
| Q4 24 | $398.3M | $485.4M | ||
| Q3 24 | $337.5M | $360.9M | ||
| Q2 24 | $320.6M | $340.8M |
净利润CTOSPIPR
| Q1 26 | $-17.8M | — | ||
| Q4 25 | $20.9M | $114.0M | ||
| Q3 25 | $-5.8M | $60.3M | ||
| Q2 25 | $-28.4M | $42.2M | ||
| Q1 25 | $-17.8M | $64.9M | ||
| Q4 24 | $27.6M | $69.1M | ||
| Q3 24 | $-17.4M | $34.8M | ||
| Q2 24 | $-24.5M | $34.8M |
毛利率CTOSPIPR
| Q1 26 | 20.3% | — | ||
| 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CTOSPIPR
| Q1 26 | 2.9% | — | ||
| Q4 25 | 13.4% | 28.3% | ||
| Q3 25 | 9.1% | 22.4% | ||
| Q2 25 | 7.1% | 12.3% | ||
| Q1 25 | 4.0% | 8.2% | ||
| Q4 24 | 16.9% | 16.9% | ||
| Q3 24 | 6.8% | 15.4% | ||
| Q2 24 | 5.5% | 8.3% |
净利率CTOSPIPR
| Q1 26 | -4.2% | — | ||
| Q4 25 | 5.4% | 17.1% | ||
| Q3 25 | -1.6% | 12.6% | ||
| Q2 25 | -7.2% | 10.6% | ||
| Q1 25 | -5.8% | 18.1% | ||
| Q4 24 | 6.9% | 14.2% | ||
| Q3 24 | -5.2% | 9.6% | ||
| Q2 24 | -7.6% | 10.2% |
每股收益（稀释后）CTOSPIPR
| Q1 26 | $-0.08 | — | ||
| Q4 25 | $0.10 | $6.41 | ||
| Q3 25 | $-0.03 | $3.38 | ||
| Q2 25 | $-0.13 | $2.38 | ||
| Q1 25 | $-0.08 | $3.65 | ||
| Q4 24 | $0.11 | $3.88 | ||
| Q3 24 | $-0.07 | $1.96 | ||
| Q2 24 | $-0.10 | $1.97 |
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 | $6.3M | — |
| 总债务越低越好 | $25.9M | — |
| 股东权益账面价值 | $809.1M | $1.4B |
| 总资产 | $3.4B | $2.6B |
| 负债/权益比越低杠杆越低 | 0.03× | — |
8季度趋势，按日历期对齐
现金及短期投资CTOSPIPR
| Q1 26 | $6.3M | — | ||
| Q4 25 | $6.3M | — | ||
| Q3 25 | $13.1M | — | ||
| Q2 25 | $5.3M | — | ||
| Q1 25 | $5.4M | — | ||
| Q4 24 | $3.8M | — | ||
| Q3 24 | $8.4M | — | ||
| Q2 24 | $8.1M | — |
总债务CTOSPIPR
| Q1 26 | $25.9M | — | ||
| Q4 25 | $1.6B | — | ||
| Q3 25 | $1.6B | — | ||
| Q2 25 | $1.6B | — | ||
| Q1 25 | $1.6B | — | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | $1.6B | — | ||
| Q2 24 | $1.5B | — |
股东权益CTOSPIPR
| Q1 26 | $809.1M | — | ||
| Q4 25 | $809.1M | $1.4B | ||
| Q3 25 | $784.7M | $1.3B | ||
| Q2 25 | $790.1M | $1.2B | ||
| Q1 25 | $813.4M | $1.2B | ||
| Q4 24 | $861.3M | $1.2B | ||
| Q3 24 | $837.5M | $1.2B | ||
| Q2 24 | $856.7M | $1.1B |
总资产CTOSPIPR
| Q1 26 | $3.4B | — | ||
| Q4 25 | $3.4B | $2.6B | ||
| Q3 25 | $3.5B | $2.2B | ||
| Q2 25 | $3.6B | $2.0B | ||
| Q1 25 | $3.5B | $1.8B | ||
| Q4 24 | $3.5B | $2.3B | ||
| Q3 24 | $3.6B | $2.0B | ||
| Q2 24 | $3.5B | $1.9B |
负债/权益比CTOSPIPR
| Q1 26 | 0.03× | — | ||
| 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 | — | $729.8M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | — | 6.40× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流CTOSPIPR
| Q1 26 | — | — | ||
| Q4 25 | $47.3M | $729.8M | ||
| Q3 25 | $81.5M | $31.9M | ||
| Q2 25 | $125.7M | $32.1M | ||
| Q1 25 | $55.6M | $-207.2M | ||
| Q4 24 | $82.1M | $163.8M | ||
| Q3 24 | $16.5M | $80.1M | ||
| Q2 24 | $37.8M | $266.5M |
现金转化率CTOSPIPR
| Q1 26 | — | — | ||
| Q4 25 | 2.27× | 6.40× | ||
| Q3 25 | — | 0.53× | ||
| Q2 25 | — | 0.76× | ||
| Q1 25 | — | -3.19× | ||
| Q4 24 | 2.98× | 2.37× | ||
| Q3 24 | — | 2.30× | ||
| Q2 24 | — | 7.66× |
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 | $273.9M | 65% |
| Rental revenue | $116.3M | 28% |
| Parts sales and services | $32.1M | 8% |
PIPR
| Advisory Services | $402.6M | 60% |
| Equities Financing | $66.7M | 10% |
| Equity Salesand Trading | $64.2M | 10% |
| Fixed Income Salesand Trading | $47.9M | 7% |
| Other | $46.7M | 7% |
| Debt Financing | $38.9M | 6% |
