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CARVANA CO.（CVNA）与DTE Energy（DTE）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DTE Energy的1.3倍（$5.6B vs $4.4B），CARVANA CO.净利率更高（15.3% vs 8.3%，领先7.0%），CARVANA CO.同比增速更快（58.0% vs 28.9%），过去两年CARVANA CO.的营收复合增速更高（35.3% vs 16.9%）
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。
DTE Energy是总部位于美国底特律的多元化能源企业，业务范围覆盖美国和加拿大，专注于能源相关业务及服务的开发与运营。旗下运营板块包括密歇根州的电力及天然气公用事业公司，分别服务220万和130万用户。
CVNA vs DTE — 直观对比
营收规模更大
CVNA
是对方的1.3倍
$4.4B
营收增速更快
CVNA
高出29.1%
28.9%
净利率更高
CVNA
高出7.0%
8.3%
两年增速更快
CVNA
近两年复合增速
16.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $5.6B | $4.4B |
| 净利润 | $857.0M | $369.0M |
| 毛利率 | 18.8% | — |
| 营业利润率 | 7.6% | 15.9% |
| 净利率 | 15.3% | 8.3% |
| 营收同比 | 58.0% | 28.9% |
| 净利润同比 | 984.8% | 26.4% |
| 每股收益（稀释后） | — | $1.78 |
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CVNADTE
| Q4 25 | $5.6B | $4.4B | ||
| Q3 25 | $5.6B | $3.5B | ||
| Q2 25 | $4.8B | $3.4B | ||
| Q1 25 | $4.2B | $4.4B | ||
| Q4 24 | $3.5B | $3.4B | ||
| Q3 24 | $3.7B | $2.9B | ||
| Q2 24 | $3.4B | $2.9B | ||
| Q1 24 | $3.1B | $3.2B |
净利润CVNADTE
| Q4 25 | $857.0M | $369.0M | ||
| Q3 25 | $151.0M | $419.0M | ||
| Q2 25 | $183.0M | $229.0M | ||
| Q1 25 | $216.0M | $445.0M | ||
| Q4 24 | $79.0M | $292.0M | ||
| Q3 24 | $85.0M | $477.0M | ||
| Q2 24 | $18.0M | $322.0M | ||
| Q1 24 | $28.0M | $313.0M |
毛利率CVNADTE
| 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CVNADTE
| Q4 25 | 7.6% | 15.9% | ||
| Q3 25 | 9.8% | 17.6% | ||
| Q2 25 | 10.6% | 12.5% | ||
| Q1 25 | 9.3% | 14.1% | ||
| Q4 24 | 7.3% | 16.2% | ||
| Q3 24 | 9.2% | 17.8% | ||
| Q2 24 | 7.6% | 17.5% | ||
| Q1 24 | 4.4% | 16.0% |
净利率CVNADTE
| Q4 25 | 15.3% | 8.3% | ||
| Q3 25 | 2.7% | 11.9% | ||
| Q2 25 | 3.8% | 6.7% | ||
| Q1 25 | 5.1% | 10.0% | ||
| Q4 24 | 2.2% | 8.5% | ||
| Q3 24 | 2.3% | 16.4% | ||
| Q2 24 | 0.5% | 11.2% | ||
| Q1 24 | 0.9% | 9.7% |
每股收益（稀释后）CVNADTE
| Q4 25 | — | $1.78 | ||
| Q3 25 | — | $2.01 | ||
| Q2 25 | — | $1.10 | ||
| Q1 25 | — | $2.14 | ||
| Q4 24 | — | $1.41 | ||
| Q3 24 | — | $2.30 | ||
| Q2 24 | — | $1.55 | ||
| Q1 24 | $0.24 | $1.51 |
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 | $208.0M |
| 总债务越低越好 | $4.9B | $23.8B |
| 股东权益账面价值 | $3.4B | $12.3B |
| 总资产 | $13.2B | $54.1B |
| 负债/权益比越低杠杆越低 | 1.43× | 1.93× |
8季度趋势，按日历期对齐
现金及短期投资CVNADTE
| Q4 25 | $2.3B | $208.0M | ||
| Q3 25 | $2.1B | $34.0M | ||
| Q2 25 | $1.9B | $32.0M | ||
| Q1 25 | $1.9B | $33.0M | ||
| Q4 24 | $1.7B | $24.0M | ||
| Q3 24 | $871.0M | $969.0M | ||
| Q2 24 | $542.0M | $20.0M | ||
| Q1 24 | $252.0M | $292.0M |
总债务CVNADTE
| Q4 25 | $4.9B | $23.8B | ||
| Q3 25 | — | $24.5B | ||
| Q2 25 | — | $22.9B | ||
| Q1 25 | — | $21.8B | ||
| Q4 24 | $5.3B | $20.7B | ||
| Q3 24 | — | $20.5B | ||
| Q2 24 | — | $19.3B | ||
| Q1 24 | — | $19.2B |
股东权益CVNADTE
| Q4 25 | $3.4B | $12.3B | ||
| Q3 25 | $2.3B | $12.2B | ||
| Q2 25 | $1.7B | $11.7B | ||
| Q1 25 | $1.5B | $11.9B | ||
| Q4 24 | $1.3B | $11.7B | ||
| Q3 24 | $611.0M | $11.6B | ||
| Q2 24 | $526.0M | $11.1B | ||
| Q1 24 | $289.0M | $11.2B |
总资产CVNADTE
| Q4 25 | $13.2B | $54.1B | ||
| Q3 25 | $9.9B | $52.0B | ||
| Q2 25 | $9.4B | $50.2B | ||
| Q1 25 | $8.9B | $49.6B | ||
| Q4 24 | $8.5B | $48.8B | ||
| Q3 24 | $7.4B | $49.8B | ||
| Q2 24 | $7.2B | $47.8B | ||
| Q1 24 | $7.0B | $45.9B |
负债/权益比CVNADTE
| Q4 25 | 1.43× | 1.93× | ||
| Q3 25 | — | 2.01× | ||
| Q2 25 | — | 1.96× | ||
| Q1 25 | — | 1.83× | ||
| Q4 24 | 4.20× | 1.77× | ||
| Q3 24 | — | 1.76× | ||
| Q2 24 | — | 1.74× | ||
| Q1 24 | — | 1.72× |
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 | $1.0B |
| 自由现金流经营现金流 - 资本支出 | $379.0M | — |
| 自由现金流率自由现金流/营收 | 6.8% | — |
| 资本支出强度资本支出/营收 | 0.9% | — |
| 现金转化率经营现金流/净利润 | 0.50× | 2.84× |
| 过去12个月自由现金流最近4个季度 | $889.0M | — |
8季度趋势，按日历期对齐
经营现金流CVNADTE
| Q4 25 | $430.0M | $1.0B | ||
| Q3 25 | $345.0M | $632.0M | ||
| Q2 25 | $29.0M | $709.0M | ||
| Q1 25 | $232.0M | $1.0B | ||
| Q4 24 | $60.0M | $1.1B | ||
| Q3 24 | $403.0M | $758.0M | ||
| Q2 24 | $354.0M | $759.0M | ||
| Q1 24 | $101.0M | $1.0B |
自由现金流CVNADTE
| Q4 25 | $379.0M | — | ||
| Q3 25 | $307.0M | — | ||
| Q2 25 | $-2.0M | — | ||
| Q1 25 | $205.0M | — | ||
| Q4 24 | $36.0M | — | ||
| Q3 24 | $376.0M | — | ||
| Q2 24 | $332.0M | — | ||
| Q1 24 | $83.0M | — |
自由现金流率CVNADTE
| Q4 25 | 6.8% | — | ||
| Q3 25 | 5.4% | — | ||
| Q2 25 | -0.0% | — | ||
| Q1 25 | 4.8% | — | ||
| Q4 24 | 1.0% | — | ||
| Q3 24 | 10.3% | — | ||
| Q2 24 | 9.7% | — | ||
| Q1 24 | 2.7% | — |
资本支出强度CVNADTE
| Q4 25 | 0.9% | — | ||
| Q3 25 | 0.7% | — | ||
| Q2 25 | 0.6% | — | ||
| Q1 25 | 0.6% | — | ||
| Q4 24 | 0.7% | — | ||
| Q3 24 | 0.7% | — | ||
| Q2 24 | 0.6% | — | ||
| Q1 24 | 0.6% | — |
现金转化率CVNADTE
| Q4 25 | 0.50× | 2.84× | ||
| Q3 25 | 2.28× | 1.51× | ||
| Q2 25 | 0.16× | 3.10× | ||
| Q1 25 | 1.07× | 2.29× | ||
| Q4 24 | 0.76× | 3.71× | ||
| Q3 24 | 4.74× | 1.59× | ||
| Q2 24 | 19.67× | 2.36× | ||
| Q1 24 | 3.61× | 3.33× |
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% |
DTE
| Electric Segment | $1.8B | 40% |
| Residential | $723.0M | 16% |
| Gas Segment | $651.0M | 15% |
| Commercial | $524.0M | 12% |
| Other | $333.0M | 8% |
| DTE Vantage Segment | $176.0M | 4% |
| Industrial | $159.0M | 4% |
| End User Transportation | $69.0M | 2% |
| Intermediate Transportation | $25.0M | 1% |
