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CARVANA CO.（CVNA）与LITHIA MOTORS INC（LAD）财务数据对比。点击上方公司名可切换其他公司
LITHIA MOTORS INC的季度营收约是CARVANA CO.的1.6倍（$9.2B vs $5.6B）。CARVANA CO.净利率更高（15.3% vs 1.5%，领先13.8%）。CARVANA CO.同比增速更快（58.0% vs 0.3%）。CARVANA CO.自由现金流更多（$379.0M vs $30.5M）。过去两年CARVANA CO.的营收复合增速更高（35.3% vs 3.6%）
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。
Lithia Motors Inc.是总部位于美国俄勒冈州梅德福的全国性汽车经销商集团，按营收计算为2025年美国规模最大的汽车零售商，领先于AutoNation、潘世奇汽车集团等竞争对手。截至2024年12月31日，该公司在美、加、英三国运营459家经销网点，全球员工约3万人。
CVNA vs LAD — 直观对比
营收规模更大
LAD
是对方的1.6倍
$5.6B
营收增速更快
CVNA
高出57.7%
0.3%
净利率更高
CVNA
高出13.8%
1.5%
自由现金流更多
CVNA
多$348.5M
$30.5M
两年增速更快
CVNA
近两年复合增速
3.6%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $5.6B | $9.2B |
| 净利润 | $857.0M | $136.9M |
| 毛利率 | 18.8% | 14.9% |
| 营业利润率 | 7.6% | 3.7% |
| 净利率 | 15.3% | 1.5% |
| 营收同比 | 58.0% | 0.3% |
| 净利润同比 | 984.8% | -36.6% |
| 每股收益（稀释后） | — | $5.90 |
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CVNALAD
| Q4 25 | $5.6B | $9.2B | ||
| Q3 25 | $5.6B | $9.7B | ||
| Q2 25 | $4.8B | $9.6B | ||
| Q1 25 | $4.2B | $9.2B | ||
| Q4 24 | $3.5B | $9.2B | ||
| Q3 24 | $3.7B | $9.2B | ||
| Q2 24 | $3.4B | $9.2B | ||
| Q1 24 | $3.1B | $8.6B |
净利润CVNALAD
| Q4 25 | $857.0M | $136.9M | ||
| Q3 25 | $151.0M | $217.1M | ||
| Q2 25 | $183.0M | $256.1M | ||
| Q1 25 | $216.0M | $209.5M | ||
| Q4 24 | $79.0M | $216.1M | ||
| Q3 24 | $85.0M | $209.1M | ||
| Q2 24 | $18.0M | $214.2M | ||
| Q1 24 | $28.0M | $162.6M |
毛利率CVNALAD
| Q4 25 | 18.8% | 14.9% | ||
| Q3 25 | 20.3% | 15.2% | ||
| Q2 25 | 22.0% | 15.5% | ||
| Q1 25 | 22.0% | 15.4% | ||
| Q4 24 | 21.5% | 15.0% | ||
| Q3 24 | 22.1% | 15.5% | ||
| Q2 24 | 21.0% | 15.4% | ||
| Q1 24 | 19.3% | 15.6% |
营业利润率CVNALAD
| Q4 25 | 7.6% | 3.7% | ||
| Q3 25 | 9.8% | 4.4% | ||
| Q2 25 | 10.6% | 4.4% | ||
| Q1 25 | 9.3% | 4.4% | ||
| Q4 24 | 7.3% | 4.5% | ||
| Q3 24 | 9.2% | 4.6% | ||
| Q2 24 | 7.6% | 4.3% | ||
| Q1 24 | 4.4% | 4.0% |
净利率CVNALAD
| Q4 25 | 15.3% | 1.5% | ||
| Q3 25 | 2.7% | 2.2% | ||
| Q2 25 | 3.8% | 2.7% | ||
| Q1 25 | 5.1% | 2.3% | ||
| Q4 24 | 2.2% | 2.4% | ||
| Q3 24 | 2.3% | 2.3% | ||
| Q2 24 | 0.5% | 2.3% | ||
| Q1 24 | 0.9% | 1.9% |
每股收益（稀释后）CVNALAD
| Q4 25 | — | $5.90 | ||
| Q3 25 | — | $8.61 | ||
| Q2 25 | — | $9.87 | ||
| Q1 25 | — | $7.94 | ||
| Q4 24 | — | $8.09 | ||
| Q3 24 | — | $7.80 | ||
| Q2 24 | — | $7.87 | ||
| Q1 24 | $0.24 | $5.89 |
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 | — |
| 总债务越低越好 | $4.9B | $9.7B |
| 股东权益账面价值 | $3.4B | $6.6B |
| 总资产 | $13.2B | $25.1B |
| 负债/权益比越低杠杆越低 | 1.43× | 1.47× |
8季度趋势，按日历期对齐
现金及短期投资CVNALAD
| Q4 25 | $2.3B | — | ||
| Q3 25 | $2.1B | $206.5M | ||
| Q2 25 | $1.9B | $202.8M | ||
| Q1 25 | $1.9B | $234.4M | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | $871.0M | $209.8M | ||
| Q2 24 | $542.0M | $516.4M | ||
| Q1 24 | $252.0M | $264.4M |
总债务CVNALAD
| Q4 25 | $4.9B | $9.7B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $5.3B | $8.2B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益CVNALAD
| Q4 25 | $3.4B | $6.6B | ||
| Q3 25 | $2.3B | $6.8B | ||
| Q2 25 | $1.7B | $7.0B | ||
| Q1 25 | $1.5B | $6.8B | ||
| Q4 24 | $1.3B | $6.7B | ||
| Q3 24 | $611.0M | $6.6B | ||
| Q2 24 | $526.0M | $6.4B | ||
| Q1 24 | $289.0M | $6.4B |
总资产CVNALAD
| Q4 25 | $13.2B | $25.1B | ||
| Q3 25 | $9.9B | $24.5B | ||
| Q2 25 | $9.4B | $24.2B | ||
| Q1 25 | $8.9B | $23.5B | ||
| Q4 24 | $8.5B | $23.1B | ||
| Q3 24 | $7.4B | $23.3B | ||
| Q2 24 | $7.2B | $23.2B | ||
| Q1 24 | $7.0B | $22.2B |
负债/权益比CVNALAD
| Q4 25 | 1.43× | 1.47× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 4.20× | 1.23× | ||
| 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 | $123.7M |
| 自由现金流经营现金流 - 资本支出 | $379.0M | $30.5M |
| 自由现金流率自由现金流/营收 | 6.8% | 0.3% |
| 资本支出强度资本支出/营收 | 0.9% | 1.0% |
| 现金转化率经营现金流/净利润 | 0.50× | 0.90× |
| 过去12个月自由现金流最近4个季度 | $889.0M | $5.8M |
8季度趋势，按日历期对齐
经营现金流CVNALAD
| Q4 25 | $430.0M | $123.7M | ||
| Q3 25 | $345.0M | $-98.4M | ||
| Q2 25 | $29.0M | $9.3M | ||
| Q1 25 | $232.0M | $322.1M | ||
| Q4 24 | $60.0M | $61.8M | ||
| Q3 24 | $403.0M | $219.3M | ||
| Q2 24 | $354.0M | $-148.4M | ||
| Q1 24 | $101.0M | $292.4M |
自由现金流CVNALAD
| Q4 25 | $379.0M | $30.5M | ||
| Q3 25 | $307.0M | $-207.3M | ||
| Q2 25 | $-2.0M | $-70.8M | ||
| Q1 25 | $205.0M | $253.4M | ||
| Q4 24 | $36.0M | $-17.7M | ||
| Q3 24 | $376.0M | $157.1M | ||
| Q2 24 | $332.0M | $-278.5M | ||
| Q1 24 | $83.0M | $212.8M |
自由现金流率CVNALAD
| Q4 25 | 6.8% | 0.3% | ||
| Q3 25 | 5.4% | -2.1% | ||
| Q2 25 | -0.0% | -0.7% | ||
| Q1 25 | 4.8% | 2.8% | ||
| Q4 24 | 1.0% | -0.2% | ||
| Q3 24 | 10.3% | 1.7% | ||
| Q2 24 | 9.7% | -3.0% | ||
| Q1 24 | 2.7% | 2.5% |
资本支出强度CVNALAD
| Q4 25 | 0.9% | 1.0% | ||
| Q3 25 | 0.7% | 1.1% | ||
| Q2 25 | 0.6% | 0.8% | ||
| Q1 25 | 0.6% | 0.7% | ||
| Q4 24 | 0.7% | 0.9% | ||
| Q3 24 | 0.7% | 0.7% | ||
| Q2 24 | 0.6% | 1.4% | ||
| Q1 24 | 0.6% | 0.9% |
现金转化率CVNALAD
| Q4 25 | 0.50× | 0.90× | ||
| Q3 25 | 2.28× | -0.45× | ||
| Q2 25 | 0.16× | 0.04× | ||
| Q1 25 | 1.07× | 1.54× | ||
| Q4 24 | 0.76× | 0.29× | ||
| Q3 24 | 4.74× | 1.05× | ||
| Q2 24 | 19.67× | -0.69× | ||
| Q1 24 | 3.61× | 1.80× |
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% |
LAD
暂无分部数据
