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Custom Truck One Source, Inc.（CTOS）与德太投资（TPG）财务数据对比。点击上方公司名可切换其他公司
德太投资的季度营收约是Custom Truck One Source, Inc.的1.5倍（$715.1M vs $461.6M），德太投资净利率更高（10.8% vs -0.9%，领先11.7%），德太投资同比增速更快（35.6% vs -12.6%），过去两年Custom Truck One Source, Inc.的营收复合增速更高（20.0% vs 18.1%）
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。
TPG Inc.（原称德州太平洋集团、TPG Capital）是总部位于美国得克萨斯州沃斯堡的私募股权投资机构，旗下管理的基金覆盖成长资本、风险投资、公开股权、债权投资等品类，投资领域包含消费零售、传媒电信、工业、科技、旅游休闲、医疗健康等多个赛道。
CTOS vs TPG — 直观对比
营收规模更大
TPG
是对方的1.5倍
$461.6M
营收增速更快
TPG
高出48.2%
-12.6%
净利率更高
TPG
高出11.7%
-0.9%
两年增速更快
CTOS
近两年复合增速
18.1%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $461.6M | $715.1M |
| 净利润 | $-4.1M | $77.1M |
| 毛利率 | 22.3% | — |
| 营业利润率 | 6.8% | — |
| 净利率 | -0.9% | 10.8% |
| 营收同比 | -12.6% | 35.6% |
| 净利润同比 | 76.9% | 494.1% |
| 每股收益（稀释后） | $-0.02 | $0.30 |
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CTOSTPG
| Q1 26 | $461.6M | — | ||
| Q4 25 | $387.3M | $715.1M | ||
| Q3 25 | $359.9M | $596.5M | ||
| Q2 25 | $392.2M | $569.1M | ||
| Q1 25 | $307.1M | $543.5M | ||
| Q4 24 | $398.3M | $527.2M | ||
| Q3 24 | $337.5M | $524.7M | ||
| Q2 24 | $320.6M | $522.8M |
净利润CTOSTPG
| Q1 26 | $-4.1M | — | ||
| Q4 25 | $20.9M | $77.1M | ||
| Q3 25 | $-5.8M | $67.1M | ||
| Q2 25 | $-28.4M | $14.9M | ||
| Q1 25 | $-17.8M | $25.4M | ||
| Q4 24 | $27.6M | $13.0M | ||
| Q3 24 | $-17.4M | $9.0M | ||
| Q2 24 | $-24.5M | $-14.0M |
毛利率CTOSTPG
| 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CTOSTPG
| Q1 26 | 6.8% | — | ||
| Q4 25 | 13.4% | — | ||
| Q3 25 | 9.1% | — | ||
| Q2 25 | 7.1% | — | ||
| Q1 25 | 4.0% | — | ||
| Q4 24 | 16.9% | — | ||
| Q3 24 | 6.8% | — | ||
| Q2 24 | 5.5% | — |
净利率CTOSTPG
| Q1 26 | -0.9% | — | ||
| Q4 25 | 5.4% | 10.8% | ||
| Q3 25 | -1.6% | 11.3% | ||
| Q2 25 | -7.2% | 2.6% | ||
| Q1 25 | -5.8% | 4.7% | ||
| Q4 24 | 6.9% | 2.5% | ||
| Q3 24 | -5.2% | 1.7% | ||
| Q2 24 | -7.6% | -2.7% |
每股收益（稀释后）CTOSTPG
| Q1 26 | $-0.02 | — | ||
| Q4 25 | $0.10 | $0.30 | ||
| Q3 25 | $-0.03 | $0.20 | ||
| Q2 25 | $-0.13 | $-0.05 | ||
| Q1 25 | $-0.08 | $0.00 | ||
| Q4 24 | $0.11 | $-0.04 | ||
| Q3 24 | $-0.07 | $-0.08 | ||
| Q2 24 | $-0.10 | $-0.19 |
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 | $826.1M |
| 总债务越低越好 | $5.1M | $1.7B |
| 股东权益账面价值 | $805.2M | $4.1B |
| 总资产 | $3.5B | $13.5B |
| 负债/权益比越低杠杆越低 | 0.01× | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资CTOSTPG
| Q1 26 | $9.6M | — | ||
| Q4 25 | $6.3M | $826.1M | ||
| Q3 25 | $13.1M | $1.1B | ||
| Q2 25 | $5.3M | $1.1B | ||
| Q1 25 | $5.4M | $822.0M | ||
| Q4 24 | $3.8M | $808.0M | ||
| Q3 24 | $8.4M | $1.2B | ||
| Q2 24 | $8.1M | $1.1B |
总债务CTOSTPG
| Q1 26 | $5.1M | — | ||
| Q4 25 | $1.6B | $1.7B | ||
| Q3 25 | $1.6B | $1.8B | ||
| Q2 25 | $1.6B | $1.6B | ||
| Q1 25 | $1.6B | $1.5B | ||
| Q4 24 | $1.5B | $1.3B | ||
| Q3 24 | $1.6B | $1.3B | ||
| Q2 24 | $1.5B | $1.2B |
股东权益CTOSTPG
| Q1 26 | $805.2M | — | ||
| Q4 25 | $809.1M | $4.1B | ||
| Q3 25 | $784.7M | $3.8B | ||
| Q2 25 | $790.1M | $3.6B | ||
| Q1 25 | $813.4M | $3.5B | ||
| Q4 24 | $861.3M | $3.6B | ||
| Q3 24 | $837.5M | $3.4B | ||
| Q2 24 | $856.7M | $3.3B |
总资产CTOSTPG
| Q1 26 | $3.5B | — | ||
| Q4 25 | $3.4B | $13.5B | ||
| Q3 25 | $3.5B | $13.0B | ||
| Q2 25 | $3.6B | $12.0B | ||
| Q1 25 | $3.5B | $11.3B | ||
| Q4 24 | $3.5B | $10.5B | ||
| Q3 24 | $3.6B | $10.5B | ||
| Q2 24 | $3.5B | $10.1B |
负债/权益比CTOSTPG
| Q1 26 | 0.01× | — | ||
| Q4 25 | 2.03× | 0.42× | ||
| Q3 25 | 2.10× | 0.47× | ||
| Q2 25 | 2.04× | 0.45× | ||
| Q1 25 | 1.97× | 0.42× | ||
| Q4 24 | 1.77× | 0.36× | ||
| Q3 24 | 1.87× | 0.39× | ||
| Q2 24 | 1.79× | 0.37× |
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 | — | $-43.7M |
| 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 | — | -0.57× |
| 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CTOSTPG
| Q1 26 | — | — | ||
| Q4 25 | $47.3M | $-43.7M | ||
| Q3 25 | $81.5M | $492.0M | ||
| Q2 25 | $125.7M | $385.9M | ||
| Q1 25 | $55.6M | $198.2M | ||
| Q4 24 | $82.1M | $-188.1M | ||
| Q3 24 | $16.5M | $68.9M | ||
| Q2 24 | $37.8M | $214.6M |
现金转化率CTOSTPG
| Q1 26 | — | — | ||
| Q4 25 | 2.27× | -0.57× | ||
| Q3 25 | — | 7.33× | ||
| Q2 25 | — | 25.83× | ||
| Q1 25 | — | 7.80× | ||
| Q4 24 | 2.98× | -14.49× | ||
| Q3 24 | — | 7.69× | ||
| Q2 24 | — | — |
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% |
TPG
| Management Fees | $484.4M | 68% |
| Transaction Fees | $118.6M | 17% |
| Expense Reimbursements And Other | $76.3M | 11% |
| Incentive Fees | $29.0M | 4% |
| Monitoring Fees | $6.8M | 1% |
