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CARVANA CO.（CVNA）与亿客行集团（EXPE）财务数据对比。点击上方公司名可切换其他公司
CARVANA CO.的季度营收约是亿客行集团的1.6倍（$5.6B vs $3.5B），CARVANA CO.净利率更高（15.3% vs 5.8%，领先9.5%），CARVANA CO.同比增速更快（58.0% vs 18.7%），过去两年CARVANA CO.的营收复合增速更高（35.3% vs -0.2%）
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。
亿客行集团是总部位于美国西雅图的在线旅游服务商，旗下旅行预订平台Expedia于1996年由微软推出。用户可通过其官方网站及移动应用预订机票、酒店、租车、邮轮、特色活动及度假短租等产品，为全球消费者提供便捷的一站式旅行服务解决方案。
CVNA vs EXPE — 直观对比
营收规模更大
CVNA
是对方的1.6倍
$3.5B
营收增速更快
CVNA
高出39.3%
18.7%
净利率更高
CVNA
高出9.5%
5.8%
两年增速更快
CVNA
近两年复合增速
-0.2%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $5.6B | $3.5B |
| 净利润 | $857.0M | $205.0M |
| 毛利率 | 18.8% | — |
| 营业利润率 | 7.6% | 11.8% |
| 净利率 | 15.3% | 5.8% |
| 营收同比 | 58.0% | 18.7% |
| 净利润同比 | 984.8% | 202.5% |
| 每股收益（稀释后） | — | $1.56 |
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CVNAEXPE
| Q1 26 | — | $3.5B | ||
| Q4 25 | $5.6B | $3.5B | ||
| Q3 25 | $5.6B | $4.4B | ||
| Q2 25 | $4.8B | $3.8B | ||
| Q1 25 | $4.2B | $3.0B | ||
| Q4 24 | $3.5B | $3.2B | ||
| Q3 24 | $3.7B | $4.1B | ||
| Q2 24 | $3.4B | $3.6B |
净利润CVNAEXPE
| Q1 26 | — | $205.0M | ||
| Q4 25 | $857.0M | $205.0M | ||
| Q3 25 | $151.0M | $959.0M | ||
| Q2 25 | $183.0M | $330.0M | ||
| Q1 25 | $216.0M | $-200.0M | ||
| Q4 24 | $79.0M | $299.0M | ||
| Q3 24 | $85.0M | $684.0M | ||
| Q2 24 | $18.0M | $386.0M |
毛利率CVNAEXPE
| Q1 26 | — | — | ||
| 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% | — |
营业利润率CVNAEXPE
| Q1 26 | — | 11.8% | ||
| Q4 25 | 7.6% | 11.8% | ||
| Q3 25 | 9.8% | 23.5% | ||
| Q2 25 | 10.6% | 12.8% | ||
| Q1 25 | 9.3% | -2.3% | ||
| Q4 24 | 7.3% | 6.8% | ||
| Q3 24 | 9.2% | 18.8% | ||
| Q2 24 | 7.6% | 12.7% |
净利率CVNAEXPE
| Q1 26 | — | 5.8% | ||
| Q4 25 | 15.3% | 5.8% | ||
| Q3 25 | 2.7% | 21.7% | ||
| Q2 25 | 3.8% | 8.7% | ||
| Q1 25 | 5.1% | -6.7% | ||
| Q4 24 | 2.2% | 9.4% | ||
| Q3 24 | 2.3% | 16.8% | ||
| Q2 24 | 0.5% | 10.8% |
每股收益（稀释后）CVNAEXPE
| Q1 26 | — | $1.56 | ||
| Q4 25 | — | $1.56 | ||
| Q3 25 | — | $7.33 | ||
| Q2 25 | — | $2.48 | ||
| Q1 25 | — | $-1.56 | ||
| Q4 24 | — | $2.10 | ||
| Q3 24 | — | $5.04 | ||
| Q2 24 | — | $2.80 |
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 | $5.7B |
| 总债务越低越好 | $4.9B | $6.2B |
| 股东权益账面价值 | $3.4B | $1.3B |
| 总资产 | $13.2B | $24.5B |
| 负债/权益比越低杠杆越低 | 1.43× | 4.80× |
8季度趋势，按日历期对齐
现金及短期投资CVNAEXPE
| Q1 26 | — | $5.7B | ||
| Q4 25 | $2.3B | $5.7B | ||
| Q3 25 | $2.1B | $6.2B | ||
| Q2 25 | $1.9B | $6.7B | ||
| Q1 25 | $1.9B | $6.1B | ||
| Q4 24 | $1.7B | $4.5B | ||
| Q3 24 | $871.0M | $4.9B | ||
| Q2 24 | $542.0M | $6.3B |
总债务CVNAEXPE
| Q1 26 | — | $6.2B | ||
| Q4 25 | $4.9B | $6.2B | ||
| Q3 25 | — | $6.2B | ||
| Q2 25 | — | $6.2B | ||
| Q1 25 | — | $6.2B | ||
| Q4 24 | $5.3B | $6.3B | ||
| Q3 24 | — | $6.3B | ||
| Q2 24 | — | $6.3B |
股东权益CVNAEXPE
| Q1 26 | — | $1.3B | ||
| Q4 25 | $3.4B | $1.3B | ||
| Q3 25 | $2.3B | $1.3B | ||
| Q2 25 | $1.7B | $836.0M | ||
| Q1 25 | $1.5B | $1.1B | ||
| Q4 24 | $1.3B | $1.6B | ||
| Q3 24 | $611.0M | $1.3B | ||
| Q2 24 | $526.0M | $889.0M |
总资产CVNAEXPE
| Q1 26 | — | $24.5B | ||
| Q4 25 | $13.2B | $24.5B | ||
| Q3 25 | $9.9B | $25.1B | ||
| Q2 25 | $9.4B | $27.0B | ||
| Q1 25 | $8.9B | $26.1B | ||
| Q4 24 | $8.5B | $22.4B | ||
| Q3 24 | $7.4B | $23.4B | ||
| Q2 24 | $7.2B | $25.9B |
负债/权益比CVNAEXPE
| Q1 26 | — | 4.80× | ||
| Q4 25 | 1.43× | 4.80× | ||
| Q3 25 | — | 4.65× | ||
| Q2 25 | — | 7.43× | ||
| Q1 25 | — | 5.79× | ||
| Q4 24 | 4.20× | 4.02× | ||
| Q3 24 | — | 4.74× | ||
| Q2 24 | — | 7.04× |
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CVNAEXPE
| Q1 26 | — | — | ||
| Q4 25 | $430.0M | $304.0M | ||
| Q3 25 | $345.0M | $-497.0M | ||
| Q2 25 | $29.0M | $1.1B | ||
| Q1 25 | $232.0M | $3.0B | ||
| Q4 24 | $60.0M | $198.0M | ||
| Q3 24 | $403.0M | $-1.5B | ||
| Q2 24 | $354.0M | $1.5B |
自由现金流CVNAEXPE
| Q1 26 | — | — | ||
| Q4 25 | $379.0M | $119.0M | ||
| Q3 25 | $307.0M | $-686.0M | ||
| Q2 25 | $-2.0M | $921.0M | ||
| Q1 25 | $205.0M | $2.8B | ||
| Q4 24 | $36.0M | $7.0M | ||
| Q3 24 | $376.0M | $-1.7B | ||
| Q2 24 | $332.0M | $1.3B |
自由现金流率CVNAEXPE
| Q1 26 | — | — | ||
| Q4 25 | 6.8% | 3.4% | ||
| Q3 25 | 5.4% | -15.5% | ||
| Q2 25 | -0.0% | 24.3% | ||
| Q1 25 | 4.8% | 92.2% | ||
| Q4 24 | 1.0% | 0.2% | ||
| Q3 24 | 10.3% | -41.6% | ||
| Q2 24 | 9.7% | 36.7% |
资本支出强度CVNAEXPE
| Q1 26 | — | — | ||
| Q4 25 | 0.9% | 5.2% | ||
| Q3 25 | 0.7% | 4.3% | ||
| Q2 25 | 0.6% | 5.3% | ||
| Q1 25 | 0.6% | 6.6% | ||
| Q4 24 | 0.7% | 6.0% | ||
| Q3 24 | 0.7% | 4.8% | ||
| Q2 24 | 0.6% | 5.5% |
现金转化率CVNAEXPE
| Q1 26 | — | — | ||
| Q4 25 | 0.50× | 1.48× | ||
| Q3 25 | 2.28× | -0.52× | ||
| Q2 25 | 0.16× | 3.40× | ||
| Q1 25 | 1.07× | — | ||
| Q4 24 | 0.76× | 0.66× | ||
| Q3 24 | 4.74× | -2.18× | ||
| Q2 24 | 19.67× | 3.89× |
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% |
EXPE
暂无分部数据
