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CARVANA CO.（CVNA）与艺康（ECL）财务数据对比。点击上方公司名可切换其他公司
CARVANA CO.的季度营收约是艺康的1.4倍（$5.6B vs $4.1B），CARVANA CO.净利率更高（15.3% vs 10.6%，领先4.7%），CARVANA CO.同比增速更快（58.0% vs 10.0%），过去两年CARVANA CO.的营收复合增速更高（35.3% vs 1.0%）
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。
艺康（Ecolab）总部位于美国明尼苏达州圣保罗市，是全球领先的水处理、清洁消毒与卫生防护产品提供商，核心客户群体覆盖各领域商业机构与工业企业，可助力客户提升运营效率、保障公共卫生安全、实现可持续发展。
CVNA vs ECL — 直观对比
营收规模更大
CVNA
是对方的1.4倍
$4.1B
营收增速更快
CVNA
高出47.9%
10.0%
净利率更高
CVNA
高出4.7%
10.6%
两年增速更快
CVNA
近两年复合增速
1.0%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $5.6B | $4.1B |
| 净利润 | $857.0M | $432.6M |
| 毛利率 | 18.8% | — |
| 营业利润率 | 7.6% | 15.3% |
| 净利率 | 15.3% | 10.6% |
| 营收同比 | 58.0% | 10.0% |
| 净利润同比 | 984.8% | 1.3% |
| 每股收益（稀释后） | — | $1.52 |
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CVNAECL
| Q2 26 | — | $4.1B | ||
| Q4 25 | $5.6B | $4.2B | ||
| Q3 25 | $5.6B | $4.2B | ||
| Q2 25 | $4.8B | $4.0B | ||
| Q1 25 | $4.2B | $3.7B | ||
| Q4 24 | $3.5B | $4.0B | ||
| Q3 24 | $3.7B | $4.0B | ||
| Q2 24 | $3.4B | $4.0B |
净利润CVNAECL
| Q2 26 | — | $432.6M | ||
| Q4 25 | $857.0M | $563.9M | ||
| Q3 25 | $151.0M | $585.0M | ||
| Q2 25 | $183.0M | $524.2M | ||
| Q1 25 | $216.0M | $402.5M | ||
| Q4 24 | $79.0M | $472.9M | ||
| Q3 24 | $85.0M | $736.5M | ||
| Q2 24 | $18.0M | $490.9M |
毛利率CVNAECL
| Q2 26 | — | — | ||
| Q4 25 | 18.8% | 44.0% | ||
| Q3 25 | 20.3% | 44.8% | ||
| Q2 25 | 22.0% | 44.8% | ||
| Q1 25 | 22.0% | 44.2% | ||
| Q4 24 | 21.5% | 43.3% | ||
| Q3 24 | 22.1% | 43.4% | ||
| Q2 24 | 21.0% | 43.8% |
营业利润率CVNAECL
| Q2 26 | — | 15.3% | ||
| Q4 25 | 7.6% | 17.0% | ||
| Q3 25 | 9.8% | 18.3% | ||
| Q2 25 | 10.6% | 17.6% | ||
| Q1 25 | 9.3% | 15.0% | ||
| Q4 24 | 7.3% | 14.6% | ||
| Q3 24 | 9.2% | 26.1% | ||
| Q2 24 | 7.6% | 16.5% |
净利率CVNAECL
| Q2 26 | — | 10.6% | ||
| Q4 25 | 15.3% | 13.4% | ||
| Q3 25 | 2.7% | 14.0% | ||
| Q2 25 | 3.8% | 13.0% | ||
| Q1 25 | 5.1% | 10.9% | ||
| Q4 24 | 2.2% | 11.8% | ||
| Q3 24 | 2.3% | 18.4% | ||
| Q2 24 | 0.5% | 12.3% |
每股收益（稀释后）CVNAECL
| Q2 26 | — | $1.52 | ||
| Q4 25 | — | $1.98 | ||
| Q3 25 | — | $2.05 | ||
| Q2 25 | — | $1.84 | ||
| Q1 25 | — | $1.41 | ||
| Q4 24 | — | $1.65 | ||
| Q3 24 | — | $2.58 | ||
| Q2 24 | — | $1.71 |
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 | $519.8K |
| 总债务越低越好 | $4.9B | $8.5M |
| 股东权益账面价值 | $3.4B | $10.0M |
| 总资产 | $13.2B | $25.0M |
| 负债/权益比越低杠杆越低 | 1.43× | 0.85× |
8季度趋势，按日历期对齐
现金及短期投资CVNAECL
| Q2 26 | — | $519.8K | ||
| Q4 25 | $2.3B | $646.2M | ||
| Q3 25 | $2.1B | $2.0B | ||
| Q2 25 | $1.9B | $1.9B | ||
| Q1 25 | $1.9B | $1.2B | ||
| Q4 24 | $1.7B | $1.3B | ||
| Q3 24 | $871.0M | $1.3B | ||
| Q2 24 | $542.0M | $384.0M |
总债务CVNAECL
| Q2 26 | — | $8.5M | ||
| Q4 25 | $4.9B | $7.4B | ||
| Q3 25 | — | $8.1B | ||
| Q2 25 | — | $7.5B | ||
| Q1 25 | — | $7.0B | ||
| Q4 24 | $5.3B | $6.9B | ||
| Q3 24 | — | $7.0B | ||
| Q2 24 | — | $7.5B |
股东权益CVNAECL
| Q2 26 | — | $10.0M | ||
| Q4 25 | $3.4B | $9.8B | ||
| Q3 25 | $2.3B | $9.7B | ||
| Q2 25 | $1.7B | $9.3B | ||
| Q1 25 | $1.5B | $8.9B | ||
| Q4 24 | $1.3B | $8.8B | ||
| Q3 24 | $611.0M | $8.5B | ||
| Q2 24 | $526.0M | $8.3B |
总资产CVNAECL
| Q2 26 | — | $25.0M | ||
| Q4 25 | $13.2B | $24.7B | ||
| Q3 25 | $9.9B | $23.9B | ||
| Q2 25 | $9.4B | $23.7B | ||
| Q1 25 | $8.9B | $22.4B | ||
| Q4 24 | $8.5B | $22.4B | ||
| Q3 24 | $7.4B | $22.1B | ||
| Q2 24 | $7.2B | $21.5B |
负债/权益比CVNAECL
| Q2 26 | — | 0.85× | ||
| Q4 25 | 1.43× | 0.75× | ||
| Q3 25 | — | 0.83× | ||
| Q2 25 | — | 0.81× | ||
| Q1 25 | — | 0.79× | ||
| Q4 24 | 4.20× | 0.79× | ||
| Q3 24 | — | 0.82× | ||
| Q2 24 | — | 0.91× |
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 | — |
| 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× | — |
| 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CVNAECL
| Q2 26 | — | — | ||
| Q4 25 | $430.0M | $1.1B | ||
| Q3 25 | $345.0M | $791.3M | ||
| Q2 25 | $29.0M | $701.8M | ||
| Q1 25 | $232.0M | $369.4M | ||
| Q4 24 | $60.0M | $766.7M | ||
| Q3 24 | $403.0M | $786.7M | ||
| Q2 24 | $354.0M | $611.1M |
自由现金流CVNAECL
| Q2 26 | — | — | ||
| Q4 25 | $379.0M | $758.0M | ||
| Q3 25 | $307.0M | $529.7M | ||
| Q2 25 | $-2.0M | $485.1M | ||
| Q1 25 | $205.0M | $131.5M | ||
| Q4 24 | $36.0M | $407.0M | ||
| Q3 24 | $376.0M | $550.3M | ||
| Q2 24 | $332.0M | $414.2M |
自由现金流率CVNAECL
| Q2 26 | — | — | ||
| Q4 25 | 6.8% | 18.1% | ||
| Q3 25 | 5.4% | 12.7% | ||
| Q2 25 | -0.0% | 12.1% | ||
| Q1 25 | 4.8% | 3.6% | ||
| Q4 24 | 1.0% | 10.2% | ||
| Q3 24 | 10.3% | 13.8% | ||
| Q2 24 | 9.7% | 10.4% |
资本支出强度CVNAECL
| Q2 26 | — | — | ||
| Q4 25 | 0.9% | 7.9% | ||
| Q3 25 | 0.7% | 6.3% | ||
| Q2 25 | 0.6% | 5.4% | ||
| Q1 25 | 0.6% | 6.4% | ||
| Q4 24 | 0.7% | 9.0% | ||
| Q3 24 | 0.7% | 5.9% | ||
| Q2 24 | 0.6% | 4.9% |
现金转化率CVNAECL
| Q2 26 | — | — | ||
| Q4 25 | 0.50× | 1.93× | ||
| Q3 25 | 2.28× | 1.35× | ||
| Q2 25 | 0.16× | 1.34× | ||
| Q1 25 | 1.07× | 0.92× | ||
| Q4 24 | 0.76× | 1.62× | ||
| Q3 24 | 4.74× | 1.07× | ||
| Q2 24 | 19.67× | 1.24× |
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
CVNA
| Used Vehicle Sales | $4.2B | 74% |
| Wholesale Sales And Revenues | $988.0M | 18% |
| Other | $459.0M | 8% |
ECL
| Product and equipment sales | $3.2B | 78% |
| Service and lease sales | $891.5M | 22% |
