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CARVANA CO.（CVNA）与徕博科（LH）财务数据对比。点击上方公司名可切换其他公司
CARVANA CO.的季度营收约是徕博科的1.6倍（$5.6B vs $3.5B），CARVANA CO.净利率更高（15.3% vs 4.7%，领先10.6%），CARVANA CO.同比增速更快（58.0% vs 5.6%），徕博科自由现金流更多（$490.3M vs $379.0M），过去两年CARVANA CO.的营收复合增速更高（35.3% vs 5.2%）
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。
徕博科（Labcorp）是全球领先的生命科学与诊断检测企业，面向医疗机构、制药企业和个人患者提供全面的临床检验服务、药物研发支持及医疗检测解决方案，依托先进科研经验与创新技术输出准确可落地的健康洞察，助力临床决策、加快新药研发，提升全球患者健康水平。
CVNA vs LH — 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52.4%
5.6%
净利率更高
CVNA
高出10.6%
4.7%
自由现金流更多
LH
多$111.3M
$379.0M
两年增速更快
CVNA
近两年复合增速
5.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $5.6B | $3.5B |
| 净利润 | $857.0M | $164.7M |
| 毛利率 | 18.8% | 28.2% |
| 营业利润率 | 7.6% | 7.6% |
| 净利率 | 15.3% | 4.7% |
| 营收同比 | 58.0% | 5.6% |
| 净利润同比 | 984.8% | 14.9% |
| 每股收益（稀释后） | — | $1.98 |
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CVNALH
| Q4 25 | $5.6B | $3.5B | ||
| Q3 25 | $5.6B | $3.6B | ||
| Q2 25 | $4.8B | $3.5B | ||
| Q1 25 | $4.2B | $3.3B | ||
| Q4 24 | $3.5B | $3.3B | ||
| Q3 24 | $3.7B | $3.3B | ||
| Q2 24 | $3.4B | $3.2B | ||
| Q1 24 | $3.1B | $3.2B |
净利润CVNALH
| Q4 25 | $857.0M | $164.7M | ||
| Q3 25 | $151.0M | $261.1M | ||
| Q2 25 | $183.0M | $237.9M | ||
| Q1 25 | $216.0M | $212.8M | ||
| Q4 24 | $79.0M | $143.4M | ||
| Q3 24 | $85.0M | $169.3M | ||
| Q2 24 | $18.0M | $205.3M | ||
| Q1 24 | $28.0M | $228.0M |
毛利率CVNALH
| Q4 25 | 18.8% | 28.2% | ||
| Q3 25 | 20.3% | 28.8% | ||
| Q2 25 | 22.0% | 29.7% | ||
| Q1 25 | 22.0% | 28.3% | ||
| Q4 24 | 21.5% | 26.9% | ||
| Q3 24 | 22.1% | 27.6% | ||
| Q2 24 | 21.0% | 28.8% | ||
| Q1 24 | 19.3% | 28.2% |
营业利润率CVNALH
| Q4 25 | 7.6% | 7.6% | ||
| Q3 25 | 9.8% | 11.1% | ||
| Q2 25 | 10.6% | 11.2% | ||
| Q1 25 | 9.3% | 9.7% | ||
| Q4 24 | 7.3% | 6.5% | ||
| Q3 24 | 9.2% | 7.7% | ||
| Q2 24 | 7.6% | 9.2% | ||
| Q1 24 | 4.4% | 10.1% |
净利率CVNALH
| Q4 25 | 15.3% | 4.7% | ||
| Q3 25 | 2.7% | 7.3% | ||
| Q2 25 | 3.8% | 6.7% | ||
| Q1 25 | 5.1% | 6.4% | ||
| Q4 24 | 2.2% | 4.3% | ||
| Q3 24 | 2.3% | 5.2% | ||
| Q2 24 | 0.5% | 6.4% | ||
| Q1 24 | 0.9% | 7.2% |
每股收益（稀释后）CVNALH
| Q4 25 | — | $1.98 | ||
| Q3 25 | — | $3.12 | ||
| Q2 25 | — | $2.84 | ||
| Q1 25 | — | $2.52 | ||
| Q4 24 | — | $1.72 | ||
| Q3 24 | — | $2.00 | ||
| Q2 24 | — | $2.43 | ||
| Q1 24 | $0.24 | $2.69 |
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 | $532.3M |
| 总债务越低越好 | $4.9B | — |
| 股东权益账面价值 | $3.4B | $8.6B |
| 总资产 | $13.2B | $18.4B |
| 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CVNALH
| Q4 25 | $2.3B | $532.3M | ||
| Q3 25 | $2.1B | $598.1M | ||
| Q2 25 | $1.9B | $647.3M | ||
| Q1 25 | $1.9B | $369.4M | ||
| Q4 24 | $1.7B | $1.5B | ||
| Q3 24 | $871.0M | $1.5B | ||
| Q2 24 | $542.0M | $265.1M | ||
| Q1 24 | $252.0M | $99.3M |
总债务CVNALH
| Q4 25 | $4.9B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $5.3B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益CVNALH
| Q4 25 | $3.4B | $8.6B | ||
| Q3 25 | $2.3B | $8.7B | ||
| Q2 25 | $1.7B | $8.5B | ||
| Q1 25 | $1.5B | $8.3B | ||
| Q4 24 | $1.3B | $8.1B | ||
| Q3 24 | $611.0M | $8.2B | ||
| Q2 24 | $526.0M | $8.0B | ||
| Q1 24 | $289.0M | $8.0B |
总资产CVNALH
| Q4 25 | $13.2B | $18.4B | ||
| Q3 25 | $9.9B | $18.3B | ||
| Q2 25 | $9.4B | $18.1B | ||
| Q1 25 | $8.9B | $17.6B | ||
| Q4 24 | $8.5B | $18.4B | ||
| Q3 24 | $7.4B | $18.6B | ||
| Q2 24 | $7.2B | $16.7B | ||
| Q1 24 | $7.0B | $16.5B |
负债/权益比CVNALH
| 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 | $614.2M |
| 自由现金流经营现金流 - 资本支出 | $379.0M | $490.3M |
| 自由现金流率自由现金流/营收 | 6.8% | 13.9% |
| 资本支出强度资本支出/营收 | 0.9% | 3.5% |
| 现金转化率经营现金流/净利润 | 0.50× | 3.73× |
| 过去12个月自由现金流最近4个季度 | $889.0M | $1.2B |
8季度趋势，按日历期对齐
经营现金流CVNALH
| Q4 25 | $430.0M | $614.2M | ||
| Q3 25 | $345.0M | $387.2M | ||
| Q2 25 | $29.0M | $620.6M | ||
| Q1 25 | $232.0M | $18.5M | ||
| Q4 24 | $60.0M | $777.2M | ||
| Q3 24 | $403.0M | $277.3M | ||
| Q2 24 | $354.0M | $561.1M | ||
| Q1 24 | $101.0M | $-29.8M |
自由现金流CVNALH
| Q4 25 | $379.0M | $490.3M | ||
| Q3 25 | $307.0M | $280.5M | ||
| Q2 25 | $-2.0M | $542.7M | ||
| Q1 25 | $205.0M | $-107.5M | ||
| Q4 24 | $36.0M | $665.1M | ||
| Q3 24 | $376.0M | $161.5M | ||
| Q2 24 | $332.0M | $432.9M | ||
| Q1 24 | $83.0M | $-163.6M |
自由现金流率CVNALH
| Q4 25 | 6.8% | 13.9% | ||
| Q3 25 | 5.4% | 7.9% | ||
| Q2 25 | -0.0% | 15.4% | ||
| Q1 25 | 4.8% | -3.2% | ||
| Q4 24 | 1.0% | 20.0% | ||
| Q3 24 | 10.3% | 4.9% | ||
| Q2 24 | 9.7% | 13.4% | ||
| Q1 24 | 2.7% | -5.2% |
资本支出强度CVNALH
| Q4 25 | 0.9% | 3.5% | ||
| Q3 25 | 0.7% | 3.0% | ||
| Q2 25 | 0.6% | 2.2% | ||
| Q1 25 | 0.6% | 3.8% | ||
| Q4 24 | 0.7% | 3.4% | ||
| Q3 24 | 0.7% | 3.5% | ||
| Q2 24 | 0.6% | 4.0% | ||
| Q1 24 | 0.6% | 4.2% |
现金转化率CVNALH
| Q4 25 | 0.50× | 3.73× | ||
| Q3 25 | 2.28× | 1.48× | ||
| Q2 25 | 0.16× | 2.61× | ||
| Q1 25 | 1.07× | 0.09× | ||
| Q4 24 | 0.76× | 5.42× | ||
| Q3 24 | 4.74× | 1.64× | ||
| Q2 24 | 19.67× | 2.73× | ||
| Q1 24 | 3.61× | -0.13× |
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% |
LH
| Diagnostics | $2.7B | 78% |
| Biopharma Laboratory Services | $793.0M | 23% |
