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CASELLA WASTE SYSTEMS INC（CWST）与Evolent Health, Inc.（EVH）财务数据对比。点击上方公司名可切换其他公司
CASELLA WASTE SYSTEMS INC的季度营收约是Evolent Health, Inc.的1.0倍（$469.1M vs $468.7M），CASELLA WASTE SYSTEMS INC净利率更高（-0.5% vs -91.6%，领先91.0%），CASELLA WASTE SYSTEMS INC同比增速更快（9.7% vs -27.5%），过去两年CASELLA WASTE SYSTEMS INC的营收复合增速更高（17.3% vs -14.4%）
Casella Waste Systems Inc.是总部位于美国佛蒙特州拉特兰的废弃物管理企业，1975年创立时仅靠一辆卡车起步，现为区域型垂直一体化固体废物服务提供商，面向住宅、商业、市政及工业客户提供固废收集处置、中转、回收、有机废弃物处理等专业资源管理服务。
马奎尔健康是一家美国营利性医疗管理企业，目前为森特里奇旗下子公司，核心服务对象为特殊群体，业务聚焦医疗领域多个细分赛道。客户群体涵盖健康保险计划、其他管理式医疗机构、企业、工会、各类军事与政府机构以及第三方管理机构，2021年位列财富美国500强第390名。
CWST vs EVH — 直观对比
营收规模更大
CWST
是对方的1.0倍
$468.7M
营收增速更快
CWST
高出37.2%
-27.5%
净利率更高
CWST
高出91.0%
-91.6%
两年增速更快
CWST
近两年复合增速
-14.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $469.1M | $468.7M |
| 净利润 | $-2.5M | $-429.1M |
| 毛利率 | 33.3% | 20.7% |
| 营业利润率 | 2.5% | -87.1% |
| 净利率 | -0.5% | -91.6% |
| 营收同比 | 9.7% | -27.5% |
| 净利润同比 | -151.5% | -1782.0% |
| 每股收益（稀释后） | $-0.04 | $-3.76 |
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CWSTEVH
| Q4 25 | $469.1M | $468.7M | ||
| Q3 25 | $485.4M | $479.5M | ||
| Q2 25 | $465.3M | $444.3M | ||
| Q1 25 | $417.1M | $483.6M | ||
| Q4 24 | $427.5M | $646.5M | ||
| Q3 24 | $411.6M | $621.4M | ||
| Q2 24 | $377.2M | $647.1M | ||
| Q1 24 | $341.0M | $639.7M |
净利润CWSTEVH
| Q4 25 | $-2.5M | $-429.1M | ||
| Q3 25 | $10.0M | $-20.9M | ||
| Q2 25 | $5.2M | $-19.9M | ||
| Q1 25 | $-4.8M | $-64.6M | ||
| Q4 24 | $4.9M | $-22.8M | ||
| Q3 24 | $5.8M | $-23.1M | ||
| Q2 24 | $7.0M | $1.6M | ||
| Q1 24 | $-4.1M | $-17.3M |
毛利率CWSTEVH
| Q4 25 | 33.3% | 20.7% | ||
| Q3 25 | 35.0% | 20.8% | ||
| Q2 25 | 33.8% | 22.6% | ||
| Q1 25 | 32.8% | 21.2% | ||
| Q4 24 | 33.2% | 11.7% | ||
| Q3 24 | 35.1% | 13.0% | ||
| Q2 24 | 35.4% | 16.5% | ||
| Q1 24 | 32.3% | 16.3% |
营业利润率CWSTEVH
| Q4 25 | 2.5% | -87.1% | ||
| Q3 25 | 6.1% | 0.2% | ||
| Q2 25 | 4.1% | -0.3% | ||
| Q1 25 | 0.8% | -0.3% | ||
| Q4 24 | 4.3% | -2.9% | ||
| Q3 24 | 5.9% | -2.6% | ||
| Q2 24 | 6.1% | 1.2% | ||
| Q1 24 | 2.0% | -2.1% |
净利率CWSTEVH
| Q4 25 | -0.5% | -91.6% | ||
| Q3 25 | 2.1% | -4.4% | ||
| Q2 25 | 1.1% | -4.5% | ||
| Q1 25 | -1.2% | -13.4% | ||
| Q4 24 | 1.1% | -3.5% | ||
| Q3 24 | 1.4% | -3.7% | ||
| Q2 24 | 1.9% | 0.2% | ||
| Q1 24 | -1.2% | -2.7% |
每股收益（稀释后）CWSTEVH
| Q4 25 | $-0.04 | $-3.76 | ||
| Q3 25 | $0.16 | $-0.24 | ||
| Q2 25 | $0.08 | $-0.44 | ||
| Q1 25 | $-0.08 | $-0.63 | ||
| Q4 24 | $0.08 | $-0.26 | ||
| Q3 24 | $0.10 | $-0.27 | ||
| Q2 24 | $0.12 | $-0.06 | ||
| Q1 24 | $-0.07 | $-0.22 |
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 | $123.8M | $151.9M |
| 总债务越低越好 | $1.1B | — |
| 股东权益账面价值 | $1.6B | $415.2M |
| 总资产 | $3.3B | $1.9B |
| 负债/权益比越低杠杆越低 | 0.72× | — |
8季度趋势，按日历期对齐
现金及短期投资CWSTEVH
| Q4 25 | $123.8M | $151.9M | ||
| Q3 25 | $192.7M | $116.7M | ||
| Q2 25 | $217.8M | $151.0M | ||
| Q1 25 | $267.7M | $246.5M | ||
| Q4 24 | $358.3M | $104.2M | ||
| Q3 24 | $519.0M | $96.6M | ||
| Q2 24 | $208.5M | $101.3M | ||
| Q1 24 | $189.5M | $165.1M |
总债务CWSTEVH
| Q4 25 | $1.1B | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $976.6M | — | ||
| Q1 24 | $980.9M | — |
股东权益CWSTEVH
| Q4 25 | $1.6B | $415.2M | ||
| Q3 25 | $1.6B | $842.2M | ||
| Q2 25 | $1.6B | $896.0M | ||
| Q1 25 | $1.5B | $935.5M | ||
| Q4 24 | $1.6B | $1.0B | ||
| Q3 24 | $1.5B | $1.0B | ||
| Q2 24 | $1.0B | $1.1B | ||
| Q1 24 | $1.0B | $1.0B |
总资产CWSTEVH
| Q4 25 | $3.3B | $1.9B | ||
| Q3 25 | $3.3B | $2.5B | ||
| Q2 25 | $3.3B | $2.5B | ||
| Q1 25 | $3.2B | $2.7B | ||
| Q4 24 | $3.2B | $2.5B | ||
| Q3 24 | $3.1B | $2.5B | ||
| Q2 24 | $2.5B | $2.5B | ||
| Q1 24 | $2.5B | $2.6B |
负债/权益比CWSTEVH
| Q4 25 | 0.72× | — | ||
| Q3 25 | 0.72× | — | ||
| Q2 25 | 0.72× | — | ||
| Q1 25 | 0.72× | — | ||
| Q4 24 | 0.70× | — | ||
| Q3 24 | 0.68× | — | ||
| Q2 24 | 0.94× | — | ||
| Q1 24 | 0.96× | — |
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 | $96.6M | $48.8M |
| 自由现金流经营现金流 - 资本支出 | $39.3M | — |
| 自由现金流率自由现金流/营收 | 8.4% | — |
| 资本支出强度资本支出/营收 | 12.2% | — |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $84.7M | — |
8季度趋势，按日历期对齐
经营现金流CWSTEVH
| Q4 25 | $96.6M | $48.8M | ||
| Q3 25 | $93.6M | $15.8M | ||
| Q2 25 | $89.5M | $-30.3M | ||
| Q1 25 | $50.1M | $4.6M | ||
| Q4 24 | $109.8M | $-26.2M | ||
| Q3 24 | $91.8M | $18.7M | ||
| Q2 24 | $72.1M | $21.4M | ||
| Q1 24 | $7.7M | $4.9M |
自由现金流CWSTEVH
| Q4 25 | $39.3M | — | ||
| Q3 25 | $27.6M | — | ||
| Q2 25 | $23.1M | — | ||
| Q1 25 | $-5.4M | — | ||
| Q4 24 | $32.9M | — | ||
| Q3 24 | $40.4M | — | ||
| Q2 24 | $27.5M | — | ||
| Q1 24 | $-22.6M | — |
自由现金流率CWSTEVH
| Q4 25 | 8.4% | — | ||
| Q3 25 | 5.7% | — | ||
| Q2 25 | 5.0% | — | ||
| Q1 25 | -1.3% | — | ||
| Q4 24 | 7.7% | — | ||
| Q3 24 | 9.8% | — | ||
| Q2 24 | 7.3% | — | ||
| Q1 24 | -6.6% | — |
资本支出强度CWSTEVH
| Q4 25 | 12.2% | — | ||
| Q3 25 | 13.6% | — | ||
| Q2 25 | 14.3% | — | ||
| Q1 25 | 13.3% | — | ||
| Q4 24 | 18.0% | — | ||
| Q3 24 | 12.5% | — | ||
| Q2 24 | 11.8% | — | ||
| Q1 24 | 8.9% | — |
现金转化率CWSTEVH
| Q4 25 | — | — | ||
| Q3 25 | 9.37× | — | ||
| Q2 25 | 17.19× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 22.51× | — | ||
| Q3 24 | 15.91× | — | ||
| Q2 24 | 10.29× | 13.42× | ||
| Q1 24 | — | — |
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
CWST
| Transferred Over Time | $120.9M | 26% |
| Resource Solutions Region | $92.9M | 20% |
| Collection | $90.9M | 19% |
| Mid Atlantic Region | $89.6M | 19% |
| National Accounts | $60.9M | 13% |
| Landfill Revenue | $8.3M | 2% |
| Processing Services | $2.1M | 0% |
| Transportation | $1.4M | 0% |
EVH
| Commercial And Other Customers | $147.9M | 32% |
| Medicare Customers | $111.2M | 24% |
| Specialty Technology And Services Suite | $95.7M | 20% |
| Administrative Service | $55.8M | 12% |
| Cases | $47.7M | 10% |
| Related Party | $4.5M | 1% |
