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CARVANA CO.（CVNA）与DoorDash（DASH）财务数据对比。点击上方公司名可切换其他公司
CARVANA CO.的季度营收约是DoorDash的1.4倍（$5.6B vs $4.0B），CARVANA CO.净利率更高（15.3% vs 5.4%，领先9.9%），CARVANA CO.同比增速更快（58.0% vs 37.7%），CARVANA CO.自由现金流更多（$379.0M vs $367.0M），过去两年CARVANA CO.的营收复合增速更高（35.3% vs 25.5%）
Carvana Co.是总部位于美国亚利桑那州坦佩市的线上二手车零售企业，主打线上一站式购车服务，2021年成功入选《财富》500强榜单，是该榜单有史以来最年轻的上榜企业之一。
DoorDash是美国头部在线订餐及配送平台，也是美国规模最大的外卖配送服务商，占据当地外卖配送市场56%的份额，便民配送品类市场占比更是高达60%。截至2020年12月31日，平台合作商户超45万家，服务消费者超2000万，注册配送员数量突破100万。
CVNA vs DASH — 直观对比
营收规模更大
CVNA
是对方的1.4倍
$4.0B
营收增速更快
CVNA
高出20.3%
37.7%
净利率更高
CVNA
高出9.9%
5.4%
自由现金流更多
CVNA
多$12.0M
$367.0M
两年增速更快
CVNA
近两年复合增速
25.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $5.6B | $4.0B |
| 净利润 | $857.0M | $213.0M |
| 毛利率 | 18.8% | — |
| 营业利润率 | 7.6% | 3.7% |
| 净利率 | 15.3% | 5.4% |
| 营收同比 | 58.0% | 37.7% |
| 净利润同比 | 984.8% | 51.1% |
| 每股收益（稀释后） | — | $0.49 |
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CVNADASH
| Q4 25 | $5.6B | $4.0B | ||
| Q3 25 | $5.6B | $3.4B | ||
| Q2 25 | $4.8B | $3.3B | ||
| Q1 25 | $4.2B | $3.0B | ||
| Q4 24 | $3.5B | $2.9B | ||
| Q3 24 | $3.7B | $2.7B | ||
| Q2 24 | $3.4B | $2.6B | ||
| Q1 24 | $3.1B | $2.5B |
净利润CVNADASH
| Q4 25 | $857.0M | $213.0M | ||
| Q3 25 | $151.0M | $244.0M | ||
| Q2 25 | $183.0M | $285.0M | ||
| Q1 25 | $216.0M | $193.0M | ||
| Q4 24 | $79.0M | $141.0M | ||
| Q3 24 | $85.0M | $162.0M | ||
| Q2 24 | $18.0M | $-157.0M | ||
| Q1 24 | $28.0M | $-23.0M |
毛利率CVNADASH
| Q4 25 | 18.8% | — | ||
| Q3 25 | 20.3% | — | ||
| Q2 25 | 22.0% | — | ||
| Q1 25 | 22.0% | — | ||
| Q4 24 | 21.5% | — | ||
| Q3 24 | 22.1% | — | ||
| Q2 24 | 21.0% | — | ||
| Q1 24 | 19.3% | — |
营业利润率CVNADASH
| Q4 25 | 7.6% | 3.7% | ||
| Q3 25 | 9.8% | 7.5% | ||
| Q2 25 | 10.6% | 5.0% | ||
| Q1 25 | 9.3% | 5.1% | ||
| Q4 24 | 7.3% | 4.1% | ||
| Q3 24 | 9.2% | 4.0% | ||
| Q2 24 | 7.6% | -7.6% | ||
| Q1 24 | 4.4% | -2.4% |
净利率CVNADASH
| Q4 25 | 15.3% | 5.4% | ||
| Q3 25 | 2.7% | 7.1% | ||
| Q2 25 | 3.8% | 8.7% | ||
| Q1 25 | 5.1% | 6.4% | ||
| Q4 24 | 2.2% | 4.9% | ||
| Q3 24 | 2.3% | 6.0% | ||
| Q2 24 | 0.5% | -6.0% | ||
| Q1 24 | 0.9% | -0.9% |
每股收益（稀释后）CVNADASH
| Q4 25 | — | $0.49 | ||
| Q3 25 | — | $0.55 | ||
| Q2 25 | — | $0.65 | ||
| Q1 25 | — | $0.44 | ||
| Q4 24 | — | $0.35 | ||
| Q3 24 | — | $0.38 | ||
| Q2 24 | — | $-0.38 | ||
| Q1 24 | $0.24 | $-0.06 |
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 | $2.3B | $4.4B |
| 总债务越低越好 | $4.9B | — |
| 股东权益账面价值 | $3.4B | $10.0B |
| 总资产 | $13.2B | $19.7B |
| 负债/权益比越低杠杆越低 | 1.43× | — |
8季度趋势，按日历期对齐
现金及短期投资CVNADASH
| Q4 25 | $2.3B | $4.4B | ||
| Q3 25 | $2.1B | $3.3B | ||
| Q2 25 | $1.9B | $3.9B | ||
| Q1 25 | $1.9B | $4.5B | ||
| Q4 24 | $1.7B | $4.0B | ||
| Q3 24 | $871.0M | $3.7B | ||
| Q2 24 | $542.0M | $3.4B | ||
| Q1 24 | $252.0M | $3.1B |
总债务CVNADASH
| Q4 25 | $4.9B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $5.3B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益CVNADASH
| Q4 25 | $3.4B | $10.0B | ||
| Q3 25 | $2.3B | $9.5B | ||
| Q2 25 | $1.7B | $8.9B | ||
| Q1 25 | $1.5B | $8.4B | ||
| Q4 24 | $1.3B | $7.8B | ||
| Q3 24 | $611.0M | $7.6B | ||
| Q2 24 | $526.0M | $7.2B | ||
| Q1 24 | $289.0M | $7.0B |
总资产CVNADASH
| Q4 25 | $13.2B | $19.7B | ||
| Q3 25 | $9.9B | $18.0B | ||
| Q2 25 | $9.4B | $16.9B | ||
| Q1 25 | $8.9B | $13.6B | ||
| Q4 24 | $8.5B | $12.8B | ||
| Q3 24 | $7.4B | $12.3B | ||
| Q2 24 | $7.2B | $11.8B | ||
| Q1 24 | $7.0B | $11.4B |
负债/权益比CVNADASH
| Q4 25 | 1.43× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 4.20× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $430.0M | $421.0M |
| 自由现金流经营现金流 - 资本支出 | $379.0M | $367.0M |
| 自由现金流率自由现金流/营收 | 6.8% | 9.3% |
| 资本支出强度资本支出/营收 | 0.9% | 1.4% |
| 现金转化率经营现金流/净利润 | 0.50× | 1.98× |
| 过去12个月自由现金流最近4个季度 | $889.0M | $2.2B |
8季度趋势，按日历期对齐
经营现金流CVNADASH
| Q4 25 | $430.0M | $421.0M | ||
| Q3 25 | $345.0M | $871.0M | ||
| Q2 25 | $29.0M | $504.0M | ||
| Q1 25 | $232.0M | $635.0M | ||
| Q4 24 | $60.0M | $518.0M | ||
| Q3 24 | $403.0M | $531.0M | ||
| Q2 24 | $354.0M | $530.0M | ||
| Q1 24 | $101.0M | $553.0M |
自由现金流CVNADASH
| Q4 25 | $379.0M | $367.0M | ||
| Q3 25 | $307.0M | $808.0M | ||
| Q2 25 | $-2.0M | $438.0M | ||
| Q1 25 | $205.0M | $561.0M | ||
| Q4 24 | $36.0M | $486.0M | ||
| Q3 24 | $376.0M | $499.0M | ||
| Q2 24 | $332.0M | $507.0M | ||
| Q1 24 | $83.0M | $536.0M |
自由现金流率CVNADASH
| Q4 25 | 6.8% | 9.3% | ||
| Q3 25 | 5.4% | 23.4% | ||
| Q2 25 | -0.0% | 13.3% | ||
| Q1 25 | 4.8% | 18.5% | ||
| Q4 24 | 1.0% | 16.9% | ||
| Q3 24 | 10.3% | 18.4% | ||
| Q2 24 | 9.7% | 19.3% | ||
| Q1 24 | 2.7% | 21.3% |
资本支出强度CVNADASH
| Q4 25 | 0.9% | 1.4% | ||
| Q3 25 | 0.7% | 1.8% | ||
| Q2 25 | 0.6% | 2.0% | ||
| Q1 25 | 0.6% | 2.4% | ||
| Q4 24 | 0.7% | 1.1% | ||
| Q3 24 | 0.7% | 1.2% | ||
| Q2 24 | 0.6% | 0.9% | ||
| Q1 24 | 0.6% | 0.7% |
现金转化率CVNADASH
| Q4 25 | 0.50× | 1.98× | ||
| Q3 25 | 2.28× | 3.57× | ||
| Q2 25 | 0.16× | 1.77× | ||
| Q1 25 | 1.07× | 3.29× | ||
| Q4 24 | 0.76× | 3.67× | ||
| Q3 24 | 4.74× | 3.28× | ||
| Q2 24 | 19.67× | — | ||
| Q1 24 | 3.61× | — |
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
CVNA
| Used Vehicle Sales | $4.2B | 74% |
| Wholesale Sales And Revenues | $988.0M | 18% |
| Other | $459.0M | 8% |
DASH
暂无分部数据
