vs
柯蒂斯-莱特（CW）与Toast, Inc.（TOST）财务数据对比。点击上方公司名可切换其他公司
Toast, Inc.的季度营收约是柯蒂斯-莱特的1.7倍（$1.6B vs $947.0M），柯蒂斯-莱特净利率更高（14.5% vs 6.2%，领先8.3%），Toast, Inc.同比增速更快（22.0% vs 14.9%），柯蒂斯-莱特自由现金流更多（$315.1M vs $178.0M），过去两年Toast, Inc.的营收复合增速更高（23.3% vs 15.2%）
柯蒂斯-莱特公司是总部位于美国北卡罗来纳州戴维森的制造与服务提供商，在美国内外均设有工厂及业务网点。公司1929年由柯蒂斯、莱特及多家供应商合并成立，成立之初即为美国最大航空企业，二战期间为美军生产了超14.2万台航空发动机。
Toast, Inc.是总部位于美国马萨诸塞州波士顿的云餐饮管理软件企业，主打基于安卓操作系统研发的一体化销售点（POS）系统，可为餐饮商家提供涵盖收银、订单管理等在内的全场景门店经营解决方案。
CW vs TOST — 直观对比
营收规模更大
TOST
是对方的1.7倍
$947.0M
营收增速更快
TOST
高出7.2%
14.9%
净利率更高
CW
高出8.3%
6.2%
自由现金流更多
CW
多$137.1M
$178.0M
两年增速更快
TOST
近两年复合增速
15.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $947.0M | $1.6B |
| 净利润 | $137.0M | $101.0M |
| 毛利率 | 37.5% | 25.9% |
| 营业利润率 | 19.2% | 5.2% |
| 净利率 | 14.5% | 6.2% |
| 营收同比 | 14.9% | 22.0% |
| 净利润同比 | 16.2% | 215.6% |
| 每股收益（稀释后） | $3.69 | $0.18 |
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CWTOST
| Q4 25 | $947.0M | $1.6B | ||
| Q3 25 | $869.2M | $1.6B | ||
| Q2 25 | $876.6M | $1.6B | ||
| Q1 25 | $805.6M | $1.3B | ||
| Q4 24 | $824.3M | $1.3B | ||
| Q3 24 | $798.9M | $1.3B | ||
| Q2 24 | $784.8M | $1.2B | ||
| Q1 24 | $713.2M | $1.1B |
净利润CWTOST
| Q4 25 | $137.0M | $101.0M | ||
| Q3 25 | $124.8M | $105.0M | ||
| Q2 25 | $121.1M | $80.0M | ||
| Q1 25 | $101.3M | $56.0M | ||
| Q4 24 | $117.9M | $32.0M | ||
| Q3 24 | $111.2M | $56.0M | ||
| Q2 24 | $99.5M | $14.0M | ||
| Q1 24 | $76.5M | $-83.0M |
毛利率CWTOST
| Q4 25 | 37.5% | 25.9% | ||
| Q3 25 | 37.7% | 26.5% | ||
| Q2 25 | 37.2% | 25.3% | ||
| Q1 25 | 36.3% | 25.9% | ||
| Q4 24 | 38.5% | 24.9% | ||
| Q3 24 | 37.3% | 24.7% | ||
| Q2 24 | 36.2% | 23.0% | ||
| Q1 24 | 35.6% | 23.2% |
营业利润率CWTOST
| Q4 25 | 19.2% | 5.2% | ||
| Q3 25 | 19.1% | 5.1% | ||
| Q2 25 | 17.8% | 5.2% | ||
| Q1 25 | 16.0% | 3.2% | ||
| Q4 24 | 18.8% | 2.5% | ||
| Q3 24 | 18.1% | 2.6% | ||
| Q2 24 | 16.4% | 0.4% | ||
| Q1 24 | 14.0% | -5.2% |
净利率CWTOST
| Q4 25 | 14.5% | 6.2% | ||
| Q3 25 | 14.4% | 6.4% | ||
| Q2 25 | 13.8% | 5.2% | ||
| Q1 25 | 12.6% | 4.2% | ||
| Q4 24 | 14.3% | 2.4% | ||
| Q3 24 | 13.9% | 4.3% | ||
| Q2 24 | 12.7% | 1.1% | ||
| Q1 24 | 10.7% | -7.7% |
每股收益（稀释后）CWTOST
| Q4 25 | $3.69 | $0.18 | ||
| Q3 25 | $3.31 | $0.16 | ||
| Q2 25 | $3.19 | $0.13 | ||
| Q1 25 | $2.68 | $0.09 | ||
| Q4 24 | $3.09 | $0.09 | ||
| Q3 24 | $2.89 | $0.07 | ||
| Q2 24 | $2.58 | $0.02 | ||
| Q1 24 | $1.99 | $-0.15 |
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 | — | $1.4B |
| 总债务越低越好 | $957.9M | — |
| 股东权益账面价值 | $2.5B | $2.1B |
| 总资产 | $5.2B | $3.1B |
| 负债/权益比越低杠杆越低 | 0.38× | — |
8季度趋势，按日历期对齐
现金及短期投资CWTOST
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | $226.5M | $1.0B | ||
| Q4 24 | $385.0M | $903.0M | ||
| Q3 24 | — | $761.0M | ||
| Q2 24 | — | $691.0M | ||
| Q1 24 | $338.0M | $578.0M |
总债务CWTOST
| Q4 25 | $957.9M | — | ||
| Q3 25 | $968.6M | — | ||
| Q2 25 | $958.4M | — | ||
| Q1 25 | $958.6M | — | ||
| Q4 24 | $1.0B | — | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $1.0B | — | ||
| Q1 24 | $1.1B | — |
股东权益CWTOST
| Q4 25 | $2.5B | $2.1B | ||
| Q3 25 | $2.5B | $2.0B | ||
| Q2 25 | $2.7B | $1.8B | ||
| Q1 25 | $2.6B | $1.7B | ||
| Q4 24 | $2.4B | $1.5B | ||
| Q3 24 | $2.5B | $1.4B | ||
| Q2 24 | $2.5B | $1.3B | ||
| Q1 24 | $2.4B | $1.2B |
总资产CWTOST
| Q4 25 | $5.2B | $3.1B | ||
| Q3 25 | $5.1B | $3.0B | ||
| Q2 25 | $5.2B | $2.8B | ||
| Q1 25 | $5.0B | $2.6B | ||
| Q4 24 | $5.0B | $2.4B | ||
| Q3 24 | $4.9B | $2.2B | ||
| Q2 24 | $4.7B | $2.2B | ||
| Q1 24 | $4.6B | $2.1B |
负债/权益比CWTOST
| Q4 25 | 0.38× | — | ||
| Q3 25 | 0.38× | — | ||
| Q2 25 | 0.35× | — | ||
| Q1 25 | 0.37× | — | ||
| Q4 24 | 0.43× | — | ||
| Q3 24 | 0.42× | — | ||
| Q2 24 | 0.43× | — | ||
| Q1 24 | 0.44× | — |
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 | $352.7M | $194.0M |
| 自由现金流经营现金流 - 资本支出 | $315.1M | $178.0M |
| 自由现金流率自由现金流/营收 | 33.3% | 10.9% |
| 资本支出强度资本支出/营收 | 4.0% | 1.0% |
| 现金转化率经营现金流/净利润 | 2.57× | 1.92× |
| 过去12个月自由现金流最近4个季度 | $553.7M | $608.0M |
8季度趋势，按日历期对齐
经营现金流CWTOST
| Q4 25 | $352.7M | $194.0M | ||
| Q3 25 | $192.8M | $165.0M | ||
| Q2 25 | $136.6M | $223.0M | ||
| Q1 25 | $-38.8M | $79.0M | ||
| Q4 24 | $301.3M | $147.0M | ||
| Q3 24 | $177.3M | $109.0M | ||
| Q2 24 | $111.3M | $124.0M | ||
| Q1 24 | $-45.6M | $-20.0M |
自由现金流CWTOST
| Q4 25 | $315.1M | $178.0M | ||
| Q3 25 | $175.9M | $153.0M | ||
| Q2 25 | $117.2M | $208.0M | ||
| Q1 25 | $-54.5M | $69.0M | ||
| Q4 24 | $278.0M | $134.0M | ||
| Q3 24 | $162.7M | $97.0M | ||
| Q2 24 | $100.3M | $108.0M | ||
| Q1 24 | $-57.7M | $-33.0M |
自由现金流率CWTOST
| Q4 25 | 33.3% | 10.9% | ||
| Q3 25 | 20.2% | 9.4% | ||
| Q2 25 | 13.4% | 13.4% | ||
| Q1 25 | -6.8% | 5.2% | ||
| Q4 24 | 33.7% | 10.0% | ||
| Q3 24 | 20.4% | 7.4% | ||
| Q2 24 | 12.8% | 8.7% | ||
| Q1 24 | -8.1% | -3.1% |
资本支出强度CWTOST
| Q4 25 | 4.0% | 1.0% | ||
| Q3 25 | 1.9% | 0.7% | ||
| Q2 25 | 2.2% | 1.0% | ||
| Q1 25 | 2.0% | 0.7% | ||
| Q4 24 | 2.8% | 1.0% | ||
| Q3 24 | 1.8% | 0.9% | ||
| Q2 24 | 1.4% | 1.3% | ||
| Q1 24 | 1.7% | 1.2% |
现金转化率CWTOST
| Q4 25 | 2.57× | 1.92× | ||
| Q3 25 | 1.54× | 1.57× | ||
| Q2 25 | 1.13× | 2.79× | ||
| Q1 25 | -0.38× | 1.41× | ||
| Q4 24 | 2.56× | 4.59× | ||
| Q3 24 | 1.59× | 1.95× | ||
| Q2 24 | 1.12× | 8.86× | ||
| Q1 24 | -0.60× | — |
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
CW
| Naval Power | $417.4M | 44% |
| Defense Electronics | $268.3M | 28% |
| Aerospace Industrial | $262.4M | 28% |
TOST
| Technology Service | $1.3B | 82% |
| License | $256.0M | 16% |
| Product And Professional Services | $43.0M | 3% |
