vs
柯蒂斯-莱特（CW）与永利度假村（WYNN）财务数据对比。点击上方公司名可切换其他公司
永利度假村的季度营收约是柯蒂斯-莱特的2.0倍（$1.9B vs $947.0M），柯蒂斯-莱特净利率更高（14.5% vs 5.4%，领先9.1%），柯蒂斯-莱特同比增速更快（14.9% vs 1.5%），柯蒂斯-莱特自由现金流更多（$315.1M vs $306.8M），过去两年柯蒂斯-莱特的营收复合增速更高（15.2% vs 0.1%）
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。
永利度假村是总部位于美国内华达州帕拉代斯的上市企业，专注于高端酒店及博彩度假村的开发与运营。公司2002年由前梦幻度假村董事长兼首席执行官史蒂夫·永利创立，现任首席执行官为克雷格·比林斯，截至2020年已在全球布局6处优质物业。
CW vs WYNN — 直观对比
营收规模更大
WYNN
是对方的2.0倍
$947.0M
营收增速更快
CW
高出13.4%
1.5%
净利率更高
CW
高出9.1%
5.4%
自由现金流更多
CW
多$8.3M
$306.8M
两年增速更快
CW
近两年复合增速
0.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $947.0M | $1.9B |
| 净利润 | $137.0M | $100.0M |
| 毛利率 | 37.5% | — |
| 营业利润率 | 19.2% | 14.7% |
| 净利率 | 14.5% | 5.4% |
| 营收同比 | 14.9% | 1.5% |
| 净利润同比 | 16.2% | -63.9% |
| 每股收益（稀释后） | $3.69 | $0.96 |
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CWWYNN
| Q4 25 | $947.0M | $1.9B | ||
| Q3 25 | $869.2M | $1.8B | ||
| Q2 25 | $876.6M | $1.7B | ||
| Q1 25 | $805.6M | $1.7B | ||
| Q4 24 | $824.3M | $1.8B | ||
| Q3 24 | $798.9M | $1.7B | ||
| Q2 24 | $784.8M | $1.7B | ||
| Q1 24 | $713.2M | $1.9B |
净利润CWWYNN
| Q4 25 | $137.0M | $100.0M | ||
| Q3 25 | $124.8M | $88.3M | ||
| Q2 25 | $121.1M | $66.2M | ||
| Q1 25 | $101.3M | $72.7M | ||
| Q4 24 | $117.9M | $277.0M | ||
| Q3 24 | $111.2M | $-32.1M | ||
| Q2 24 | $99.5M | $111.9M | ||
| Q1 24 | $76.5M | $144.2M |
毛利率CWWYNN
| Q4 25 | 37.5% | — | ||
| Q3 25 | 37.7% | — | ||
| Q2 25 | 37.2% | — | ||
| Q1 25 | 36.3% | — | ||
| Q4 24 | 38.5% | — | ||
| Q3 24 | 37.3% | — | ||
| Q2 24 | 36.2% | — | ||
| Q1 24 | 35.6% | — |
营业利润率CWWYNN
| Q4 25 | 19.2% | 14.7% | ||
| Q3 25 | 19.1% | 16.9% | ||
| Q2 25 | 17.8% | 15.2% | ||
| Q1 25 | 16.0% | 15.8% | ||
| Q4 24 | 18.8% | 20.0% | ||
| Q3 24 | 18.1% | 7.9% | ||
| Q2 24 | 16.4% | 15.6% | ||
| Q1 24 | 14.0% | 19.5% |
净利率CWWYNN
| Q4 25 | 14.5% | 5.4% | ||
| Q3 25 | 14.4% | 4.8% | ||
| Q2 25 | 13.8% | 3.8% | ||
| Q1 25 | 12.6% | 4.3% | ||
| Q4 24 | 14.3% | 15.1% | ||
| Q3 24 | 13.9% | -1.9% | ||
| Q2 24 | 12.7% | 6.5% | ||
| Q1 24 | 10.7% | 7.7% |
每股收益（稀释后）CWWYNN
| Q4 25 | $3.69 | $0.96 | ||
| Q3 25 | $3.31 | $0.85 | ||
| Q2 25 | $3.19 | $0.64 | ||
| Q1 25 | $2.68 | $0.69 | ||
| Q4 24 | $3.09 | $2.43 | ||
| Q3 24 | $2.89 | $-0.29 | ||
| Q2 24 | $2.58 | $0.91 | ||
| Q1 24 | $1.99 | $1.30 |
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 | — | $1.5B |
| 总债务越低越好 | $957.9M | $10.5B |
| 股东权益账面价值 | $2.5B | $-275.5M |
| 总资产 | $5.2B | $13.1B |
| 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CWWYNN
| Q4 25 | — | $1.5B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | — | $2.0B | ||
| Q1 25 | $226.5M | $2.1B | ||
| Q4 24 | $385.0M | $2.4B | ||
| Q3 24 | — | $2.4B | ||
| Q2 24 | — | $2.4B | ||
| Q1 24 | $338.0M | $2.4B |
总债务CWWYNN
| Q4 25 | $957.9M | $10.5B | ||
| Q3 25 | $968.6M | $10.6B | ||
| Q2 25 | $958.4M | $10.5B | ||
| Q1 25 | $958.6M | $10.6B | ||
| Q4 24 | $1.0B | $10.5B | ||
| Q3 24 | $1.0B | $11.8B | ||
| Q2 24 | $1.0B | $11.0B | ||
| Q1 24 | $1.1B | $11.2B |
股东权益CWWYNN
| Q4 25 | $2.5B | $-275.5M | ||
| Q3 25 | $2.5B | $-370.0M | ||
| Q2 25 | $2.7B | $-441.5M | ||
| Q1 25 | $2.6B | $-360.7M | ||
| Q4 24 | $2.4B | $-224.2M | ||
| Q3 24 | $2.5B | $-281.4M | ||
| Q2 24 | $2.5B | $-109.8M | ||
| Q1 24 | $2.4B | $-137.0M |
总资产CWWYNN
| Q4 25 | $5.2B | $13.1B | ||
| Q3 25 | $5.1B | $12.8B | ||
| Q2 25 | $5.2B | $12.7B | ||
| Q1 25 | $5.0B | $12.7B | ||
| Q4 24 | $5.0B | $13.0B | ||
| Q3 24 | $4.9B | $14.1B | ||
| Q2 24 | $4.7B | $13.3B | ||
| Q1 24 | $4.6B | $13.5B |
负债/权益比CWWYNN
| 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 | $478.0M |
| 自由现金流经营现金流 - 资本支出 | $315.1M | $306.8M |
| 自由现金流率自由现金流/营收 | 33.3% | 16.4% |
| 资本支出强度资本支出/营收 | 4.0% | 9.2% |
| 现金转化率经营现金流/净利润 | 2.57× | 4.78× |
| 过去12个月自由现金流最近4个季度 | $553.7M | $692.2M |
8季度趋势，按日历期对齐
经营现金流CWWYNN
| Q4 25 | $352.7M | $478.0M | ||
| Q3 25 | $192.8M | $335.8M | ||
| Q2 25 | $136.6M | $405.1M | ||
| Q1 25 | $-38.8M | $133.8M | ||
| Q4 24 | $301.3M | $479.0M | ||
| Q3 24 | $177.3M | $279.3M | ||
| Q2 24 | $111.3M | $352.8M | ||
| Q1 24 | $-45.6M | $315.1M |
自由现金流CWWYNN
| Q4 25 | $315.1M | $306.8M | ||
| Q3 25 | $175.9M | $171.8M | ||
| Q2 25 | $117.2M | $239.8M | ||
| Q1 25 | $-54.5M | $-26.2M | ||
| Q4 24 | $278.0M | $351.8M | ||
| Q3 24 | $162.7M | $178.0M | ||
| Q2 24 | $100.3M | $259.1M | ||
| Q1 24 | $-57.7M | $217.4M |
自由现金流率CWWYNN
| Q4 25 | 33.3% | 16.4% | ||
| Q3 25 | 20.2% | 9.4% | ||
| Q2 25 | 13.4% | 13.8% | ||
| Q1 25 | -6.8% | -1.5% | ||
| Q4 24 | 33.7% | 19.1% | ||
| Q3 24 | 20.4% | 10.5% | ||
| Q2 24 | 12.8% | 15.0% | ||
| Q1 24 | -8.1% | 11.7% |
资本支出强度CWWYNN
| Q4 25 | 4.0% | 9.2% | ||
| Q3 25 | 1.9% | 8.9% | ||
| Q2 25 | 2.2% | 9.5% | ||
| Q1 25 | 2.0% | 9.4% | ||
| Q4 24 | 2.8% | 6.9% | ||
| Q3 24 | 1.8% | 6.0% | ||
| Q2 24 | 1.4% | 5.4% | ||
| Q1 24 | 1.7% | 5.2% |
现金转化率CWWYNN
| Q4 25 | 2.57× | 4.78× | ||
| Q3 25 | 1.54× | 3.80× | ||
| Q2 25 | 1.13× | 6.12× | ||
| Q1 25 | -0.38× | 1.84× | ||
| Q4 24 | 2.56× | 1.73× | ||
| Q3 24 | 1.59× | — | ||
| Q2 24 | 1.12× | 3.15× | ||
| Q1 24 | -0.60× | 2.18× |
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% |
WYNN
| Casino | $1.1B | 61% |
| Occupancy | $305.1M | 16% |
| Food And Beverage | $264.9M | 14% |
| Entertainment Retail And Other | $152.6M | 8% |
