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戴德梁行（CWK）与StandardAero, Inc.（SARO）财务数据对比。点击上方公司名可切换其他公司
戴德梁行的季度营收约是StandardAero, Inc.的1.8倍（$2.9B vs $1.6B），StandardAero, Inc.净利率更高（4.9% vs -0.8%，领先5.7%），StandardAero, Inc.同比增速更快（13.5% vs 10.8%），StandardAero, Inc.自由现金流更多（$307.3M vs $234.3M），过去两年戴德梁行的营收复合增速更高（15.5% vs 13.8%）
戴德梁行是全球化的商业地产及物业管理服务提供商，总部位于美国伊利诺伊州芝加哥，由联合创始人J·克莱兹代尔·库什曼和伯纳德·韦克菲尔德共同创立，在全球商业地产服务领域拥有广泛的业务布局与专业服务能力，为各类客户提供定制化的地产相关解决方案。
StandardAero Inc.是总部位于美国亚利桑那州斯科茨代尔的专业维护、维修及大修（MRO）服务提供商，深耕相关领域多年，服务覆盖航空等多个行业，可为客户提供高效可靠的定制化运维解决方案。
CWK vs SARO — 直观对比
营收规模更大
CWK
是对方的1.8倍
$1.6B
营收增速更快
SARO
高出2.7%
10.8%
净利率更高
SARO
高出5.7%
-0.8%
自由现金流更多
SARO
多$73.0M
$234.3M
两年增速更快
CWK
近两年复合增速
13.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.9B | $1.6B |
| 净利润 | $-22.4M | $78.6M |
| 毛利率 | — | 13.8% |
| 营业利润率 | 6.1% | 9.3% |
| 净利率 | -0.8% | 4.9% |
| 营收同比 | 10.8% | 13.5% |
| 净利润同比 | -119.8% | 659.6% |
| 每股收益（稀释后） | $-0.10 | $0.24 |
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CWKSARO
| Q4 25 | $2.9B | $1.6B | ||
| Q3 25 | $2.6B | $1.5B | ||
| Q2 25 | $2.5B | $1.5B | ||
| Q1 25 | $2.3B | $1.4B | ||
| Q4 24 | $2.6B | $1.4B | ||
| Q3 24 | $2.3B | $1.2B | ||
| Q2 24 | $2.3B | $1.3B | ||
| Q1 24 | $2.2B | $1.2B |
净利润CWKSARO
| Q4 25 | $-22.4M | $78.6M | ||
| Q3 25 | $51.4M | $68.1M | ||
| Q2 25 | $57.3M | $67.7M | ||
| Q1 25 | $1.9M | $62.9M | ||
| Q4 24 | $112.9M | $-14.1M | ||
| Q3 24 | $33.7M | $16.4M | ||
| Q2 24 | $13.5M | $5.4M | ||
| Q1 24 | $-28.8M | $3.2M |
毛利率CWKSARO
| Q4 25 | — | 13.8% | ||
| Q3 25 | — | 14.9% | ||
| Q2 25 | — | 15.4% | ||
| Q1 25 | — | 15.2% | ||
| Q4 24 | — | 14.3% | ||
| Q3 24 | — | 15.0% | ||
| Q2 24 | — | 13.7% | ||
| Q1 24 | — | 14.7% |
营业利润率CWKSARO
| Q4 25 | 6.1% | 9.3% | ||
| Q3 25 | 4.1% | 9.2% | ||
| Q2 25 | 4.9% | 8.9% | ||
| Q1 25 | 2.0% | 9.0% | ||
| Q4 24 | 6.6% | 6.7% | ||
| Q3 24 | 3.2% | 7.9% | ||
| Q2 24 | 3.1% | 7.8% | ||
| Q1 24 | 0.9% | 8.5% |
净利率CWKSARO
| Q4 25 | -0.8% | 4.9% | ||
| Q3 25 | 2.0% | 4.5% | ||
| Q2 25 | 2.3% | 4.4% | ||
| Q1 25 | 0.1% | 4.4% | ||
| Q4 24 | 4.3% | -1.0% | ||
| Q3 24 | 1.4% | 1.3% | ||
| Q2 24 | 0.6% | 0.4% | ||
| Q1 24 | -1.3% | 0.3% |
每股收益（稀释后）CWKSARO
| Q4 25 | $-0.10 | $0.24 | ||
| Q3 25 | $0.22 | $0.20 | ||
| Q2 25 | $0.25 | $0.20 | ||
| Q1 25 | $0.01 | $0.19 | ||
| Q4 24 | $0.49 | $-0.05 | ||
| Q3 24 | $0.14 | $0.06 | ||
| Q2 24 | $0.06 | $0.02 | ||
| Q1 24 | $-0.13 | $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 | $784.2M | — |
| 总债务越低越好 | $2.7B | $2.2B |
| 股东权益账面价值 | $2.0B | $2.7B |
| 总资产 | $7.7B | $6.6B |
| 负债/权益比越低杠杆越低 | 1.40× | 0.83× |
8季度趋势，按日历期对齐
现金及短期投资CWKSARO
| Q4 25 | $784.2M | — | ||
| Q3 25 | $634.4M | — | ||
| Q2 25 | $618.2M | — | ||
| Q1 25 | $623.2M | — | ||
| Q4 24 | $793.3M | — | ||
| Q3 24 | $775.4M | — | ||
| Q2 24 | $567.3M | — | ||
| Q1 24 | $553.5M | — |
总债务CWKSARO
| Q4 25 | $2.7B | $2.2B | ||
| Q3 25 | $2.8B | $2.3B | ||
| Q2 25 | $3.0B | $2.3B | ||
| Q1 25 | $3.0B | $2.3B | ||
| Q4 24 | $3.0B | $2.2B | ||
| Q3 24 | $3.1B | $3.4B | ||
| Q2 24 | $3.1B | — | ||
| Q1 24 | $3.2B | — |
股东权益CWKSARO
| Q4 25 | $2.0B | $2.7B | ||
| Q3 25 | $2.0B | $2.6B | ||
| Q2 25 | $1.9B | $2.5B | ||
| Q1 25 | $1.8B | $2.4B | ||
| Q4 24 | $1.8B | $2.4B | ||
| Q3 24 | $1.7B | $1.2B | ||
| Q2 24 | $1.6B | $1.2B | ||
| Q1 24 | $1.6B | $1.2B |
总资产CWKSARO
| Q4 25 | $7.7B | $6.6B | ||
| Q3 25 | $7.7B | $6.6B | ||
| Q2 25 | $7.6B | $6.5B | ||
| Q1 25 | $7.4B | $6.5B | ||
| Q4 24 | $7.5B | $6.2B | ||
| Q3 24 | $7.5B | $6.1B | ||
| Q2 24 | $7.3B | — | ||
| Q1 24 | $7.5B | — |
负债/权益比CWKSARO
| Q4 25 | 1.40× | 0.83× | ||
| Q3 25 | 1.45× | 0.90× | ||
| Q2 25 | 1.57× | 0.92× | ||
| Q1 25 | 1.70× | 0.96× | ||
| Q4 24 | 1.73× | 0.94× | ||
| Q3 24 | 1.81× | 2.94× | ||
| Q2 24 | 1.91× | — | ||
| Q1 24 | 1.96× | — |
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 | $257.3M | $323.0M |
| 自由现金流经营现金流 - 资本支出 | $234.3M | $307.3M |
| 自由现金流率自由现金流/营收 | 8.0% | 19.2% |
| 资本支出强度资本支出/营收 | 0.8% | 1.0% |
| 现金转化率经营现金流/净利润 | — | 4.11× |
| 过去12个月自由现金流最近4个季度 | $293.0M | $234.3M |
8季度趋势，按日历期对齐
经营现金流CWKSARO
| Q4 25 | $257.3M | $323.0M | ||
| Q3 25 | $235.5M | $14.8M | ||
| Q2 25 | $9.6M | $2.9M | ||
| Q1 25 | $-162.0M | $-24.0M | ||
| Q4 24 | $115.2M | — | ||
| Q3 24 | $196.1M | $-13.9M | ||
| Q2 24 | $21.8M | — | ||
| Q1 24 | $-125.1M | $-83.6M |
自由现金流CWKSARO
| Q4 25 | $234.3M | $307.3M | ||
| Q3 25 | $225.0M | $-4.7M | ||
| Q2 25 | $300.0K | $-19.0M | ||
| Q1 25 | $-166.6M | $-49.3M | ||
| Q4 24 | $105.9M | — | ||
| Q3 24 | $186.7M | $-39.2M | ||
| Q2 24 | $10.0M | — | ||
| Q1 24 | $-135.6M | $-102.0M |
自由现金流率CWKSARO
| Q4 25 | 8.0% | 19.2% | ||
| Q3 25 | 8.6% | -0.3% | ||
| Q2 25 | 0.0% | -1.2% | ||
| Q1 25 | -7.3% | -3.4% | ||
| Q4 24 | 4.0% | — | ||
| Q3 24 | 8.0% | -3.1% | ||
| Q2 24 | 0.4% | — | ||
| Q1 24 | -6.2% | -8.3% |
资本支出强度CWKSARO
| Q4 25 | 0.8% | 1.0% | ||
| Q3 25 | 0.4% | 1.3% | ||
| Q2 25 | 0.4% | 1.4% | ||
| Q1 25 | 0.2% | 1.8% | ||
| Q4 24 | 0.4% | — | ||
| Q3 24 | 0.4% | 2.0% | ||
| Q2 24 | 0.5% | — | ||
| Q1 24 | 0.5% | 1.5% |
现金转化率CWKSARO
| Q4 25 | — | 4.11× | ||
| Q3 25 | 4.58× | 0.22× | ||
| Q2 25 | 0.17× | 0.04× | ||
| Q1 25 | -85.26× | -0.38× | ||
| Q4 24 | 1.02× | — | ||
| Q3 24 | 5.82× | -0.84× | ||
| Q2 24 | 1.61× | — | ||
| Q1 24 | — | -26.22× |
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
CWK
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $1.8B | 61% |
| Other | $1.1B | 39% |
SARO
| Commercial Aerospace | $1.0B | 63% |
| Business Aviation | $266.2M | 17% |
| Military And Helicopter | $262.0M | 16% |
| Other | $68.1M | 4% |
