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CPI AEROSTRUCTURES INC（CVU）与Karman Holdings Inc.（KRMN）财务数据对比。点击上方公司名可切换其他公司
Karman Holdings Inc.的季度营收约是CPI AEROSTRUCTURES INC的6.9倍（$134.5M vs $19.4M）。Karman Holdings Inc.净利率更高（5.7% vs 3.6%，领先2.2%）。Karman Holdings Inc.同比增速更快（47.4% vs -10.8%）。Karman Holdings Inc.自由现金流更多（$4.0M vs $-2.1M）。过去两年Karman Holdings Inc.的营收复合增速更高（27.3% vs 0.9%）
CPI航空结构公司（简称CPI Aero）总部位于美国纽约州埃德伍德国，是一家专业承接定制订单的飞机零部件制造商，专注为航空领域客户供应航空结构组件。
Karman Holdings是一家美国航天与防务系统制造商，总部位于加利福尼亚州亨廷顿海滩，当前估值约40亿美元，近期已完成首次公开发行，专注为航天及国防领域提供相关系统产品及配套服务。
CVU vs KRMN — 直观对比
营收规模更大
KRMN
是对方的6.9倍
$19.4M
营收增速更快
KRMN
高出58.2%
-10.8%
净利率更高
KRMN
高出2.2%
3.6%
自由现金流更多
KRMN
多$6.1M
$-2.1M
两年增速更快
KRMN
近两年复合增速
0.9%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $19.4M | $134.5M |
| 净利润 | $691.8K | $7.7M |
| 毛利率 | 20.3% | 39.9% |
| 营业利润率 | 6.4% | 15.7% |
| 净利率 | 3.6% | 5.7% |
| 营收同比 | -10.8% | 47.4% |
| 净利润同比 | -28.8% | 358.3% |
| 每股收益（稀释后） | $0.04 | $0.06 |
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CVUKRMN
| Q4 25 | $19.4M | $134.5M | ||
| Q3 25 | $19.3M | $121.8M | ||
| Q2 25 | $15.2M | $115.1M | ||
| Q1 25 | $15.4M | $100.1M | ||
| Q4 24 | $21.8M | $91.2M | ||
| Q3 24 | $19.4M | $86.0M | ||
| Q2 24 | $20.8M | $85.0M | ||
| Q1 24 | $19.1M | $83.0M |
净利润CVUKRMN
| Q4 25 | $691.8K | $7.7M | ||
| Q3 25 | $1.1M | $7.6M | ||
| Q2 25 | $-1.3M | $6.8M | ||
| Q1 25 | $-1.3M | $-4.8M | ||
| Q4 24 | $971.5K | $1.7M | ||
| Q3 24 | $749.7K | $4.3M | ||
| Q2 24 | $1.4M | $4.6M | ||
| Q1 24 | $168.2K | $2.1M |
毛利率CVUKRMN
| Q4 25 | 20.3% | 39.9% | ||
| Q3 25 | 22.3% | 41.0% | ||
| Q2 25 | 4.4% | 40.9% | ||
| Q1 25 | 10.7% | 39.4% | ||
| Q4 24 | 20.0% | 38.1% | ||
| Q3 24 | 21.7% | 39.3% | ||
| Q2 24 | 24.6% | 40.7% | ||
| Q1 24 | 18.6% | 34.9% |
营业利润率CVUKRMN
| Q4 25 | 6.4% | 15.7% | ||
| Q3 25 | 9.1% | 17.9% | ||
| Q2 25 | -13.1% | 17.5% | ||
| Q1 25 | -7.7% | 10.0% | ||
| Q4 24 | 9.5% | 15.8% | ||
| Q3 24 | 7.6% | 20.2% | ||
| Q2 24 | 11.2% | 21.5% | ||
| Q1 24 | 4.4% | 16.3% |
净利率CVUKRMN
| Q4 25 | 3.6% | 5.7% | ||
| Q3 25 | 5.8% | 6.3% | ||
| Q2 25 | -8.7% | 5.9% | ||
| Q1 25 | -8.6% | -4.8% | ||
| Q4 24 | 4.5% | 1.8% | ||
| Q3 24 | 3.9% | 5.0% | ||
| Q2 24 | 6.8% | 5.4% | ||
| Q1 24 | 0.9% | 2.6% |
每股收益（稀释后）CVUKRMN
| Q4 25 | $0.04 | $0.06 | ||
| Q3 25 | $0.09 | $0.06 | ||
| Q2 25 | $-0.10 | $0.05 | ||
| Q1 25 | $-0.10 | $-0.04 | ||
| Q4 24 | $0.08 | $0.01 | ||
| Q3 24 | $0.06 | $0.03 | ||
| Q2 24 | $0.11 | $0.03 | ||
| Q1 24 | $0.01 | $0.01 |
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 | — | $34.0M |
| 总债务越低越好 | $0 | — |
| 股东权益账面价值 | $25.8M | $382.7M |
| 总资产 | $75.2M | $1.1B |
| 负债/权益比越低杠杆越低 | 0.00× | — |
8季度趋势，按日历期对齐
现金及短期投资CVUKRMN
| Q4 25 | — | $34.0M | ||
| Q3 25 | — | $18.7M | ||
| Q2 25 | — | $27.4M | ||
| Q1 25 | — | $113.7M | ||
| Q4 24 | — | $11.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
总债务CVUKRMN
| Q4 25 | $0 | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $26.5K | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益CVUKRMN
| Q4 25 | $25.8M | $382.7M | ||
| Q3 25 | $25.0M | $369.1M | ||
| Q2 25 | $23.8M | $361.5M | ||
| Q1 25 | $24.9M | $348.9M | ||
| Q4 24 | $25.9M | $196.0M | ||
| Q3 24 | $24.9M | $194.1M | ||
| Q2 24 | $24.1M | $189.6M | ||
| Q1 24 | $22.5M | $184.8M |
总资产CVUKRMN
| Q4 25 | $75.2M | $1.1B | ||
| Q3 25 | $74.1M | $968.1M | ||
| Q2 25 | $72.3M | $953.9M | ||
| Q1 25 | $65.4M | $875.4M | ||
| Q4 24 | $68.0M | $774.0M | ||
| Q3 24 | $68.9M | — | ||
| Q2 24 | $70.2M | — | ||
| Q1 24 | $70.8M | — |
负债/权益比CVUKRMN
| Q4 25 | 0.00× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.00× | — | ||
| 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 | $-2.1M | $8.7M |
| 自由现金流经营现金流 - 资本支出 | $-2.1M | $4.0M |
| 自由现金流率自由现金流/营收 | -10.8% | 3.0% |
| 资本支出强度资本支出/营收 | 0.0% | 3.5% |
| 现金转化率经营现金流/净利润 | -3.03× | 1.13× |
| 过去12个月自由现金流最近4个季度 | $-5.3M | $-42.5M |
8季度趋势，按日历期对齐
经营现金流CVUKRMN
| Q4 25 | $-2.1M | $8.7M | ||
| Q3 25 | $212.1K | $131.0K | ||
| Q2 25 | $-596.3K | $-17.4M | ||
| Q1 25 | $-2.7M | $-13.6M | ||
| Q4 24 | $4.4M | — | ||
| Q3 24 | $715.1K | — | ||
| Q2 24 | $-591.7K | — | ||
| Q1 24 | $-960.5K | $3.1M |
自由现金流CVUKRMN
| Q4 25 | $-2.1M | $4.0M | ||
| Q3 25 | $211.1K | $-6.8M | ||
| Q2 25 | $-599.8K | $-21.0M | ||
| Q1 25 | $-2.8M | $-18.6M | ||
| Q4 24 | $4.3M | — | ||
| Q3 24 | $586.9K | — | ||
| Q2 24 | $-746.9K | — | ||
| Q1 24 | $-1.0M | $1.5M |
自由现金流率CVUKRMN
| Q4 25 | -10.8% | 3.0% | ||
| Q3 25 | 1.1% | -5.6% | ||
| Q2 25 | -4.0% | -18.2% | ||
| Q1 25 | -18.1% | -18.6% | ||
| Q4 24 | 19.9% | — | ||
| Q3 24 | 3.0% | — | ||
| Q2 24 | -3.6% | — | ||
| Q1 24 | -5.3% | 1.8% |
资本支出强度CVUKRMN
| Q4 25 | 0.0% | 3.5% | ||
| Q3 25 | 0.0% | 5.7% | ||
| Q2 25 | 0.0% | 3.2% | ||
| Q1 25 | 0.4% | 5.0% | ||
| Q4 24 | 0.3% | — | ||
| Q3 24 | 0.7% | — | ||
| Q2 24 | 0.7% | — | ||
| Q1 24 | 0.2% | 1.9% |
现金转化率CVUKRMN
| Q4 25 | -3.03× | 1.13× | ||
| Q3 25 | 0.19× | 0.02× | ||
| Q2 25 | — | -2.55× | ||
| Q1 25 | — | — | ||
| Q4 24 | 4.53× | — | ||
| Q3 24 | 0.95× | — | ||
| Q2 24 | -0.42× | — | ||
| Q1 24 | -5.71× | 1.45× |
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
CVU
| Government Subcontracts | $16.4M | 85% |
| Commercial Contracts | $2.3M | 12% |
| Prime Government Contracts | $725.8K | 4% |
KRMN
| Tactical Missile And Integrated Defense Systems | $50.5M | 38% |
| Hypersonic And Strategic Missile Defense | $48.4M | 36% |
| Space And Launch | $35.7M | 27% |
