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CASELLA WASTE SYSTEMS INC（CWST）与FirstCash Holdings, Inc.（FCFS）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FirstCash Holdings, Inc.的1.1倍（$557.2M vs $501.3M），FirstCash Holdings, Inc.净利率更高（20.8% vs -1.0%，领先21.8%），FirstCash Holdings, Inc.同比增速更快（21.2% vs 9.6%），过去两年CASELLA WASTE SYSTEMS INC的营收复合增速更高（21.5% vs 16.9%）
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。
FirstCash Holdings, Inc.是总部位于美国得克萨斯州沃斯堡的典当企业，在美国及拉丁美洲多地运营线下典当零售门店，为纳斯达克证券交易所公开上市企业，在美洲典当服务领域拥有成熟的业务布局与完善的运营网络。
CWST vs FCFS — 直观对比
营收规模更大
CWST
是对方的1.1倍
$501.3M
营收增速更快
FCFS
高出11.5%
9.6%
净利率更高
FCFS
高出21.8%
-1.0%
两年增速更快
CWST
近两年复合增速
16.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $557.2M | $501.3M |
| 净利润 | $-5.5M | $104.2M |
| 毛利率 | — | — |
| 营业利润率 | 0.9% | 28.5% |
| 净利率 | -1.0% | 20.8% |
| 营收同比 | 9.6% | 21.2% |
| 净利润同比 | -15.2% | 24.7% |
| 每股收益（稀释后） | $-0.09 | $2.35 |
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CWSTFCFS
| Q1 26 | $557.2M | — | ||
| Q4 25 | $469.1M | $501.3M | ||
| Q3 25 | $485.4M | $411.0M | ||
| Q2 25 | $465.3M | $385.1M | ||
| Q1 25 | $417.1M | $371.1M | ||
| Q4 24 | $427.5M | $413.7M | ||
| Q3 24 | $411.6M | $363.1M | ||
| Q2 24 | $377.2M | $363.5M |
净利润CWSTFCFS
| Q1 26 | $-5.5M | — | ||
| Q4 25 | $-2.5M | $104.2M | ||
| Q3 25 | $10.0M | $82.8M | ||
| Q2 25 | $5.2M | $59.8M | ||
| Q1 25 | $-4.8M | $83.6M | ||
| Q4 24 | $4.9M | $83.5M | ||
| Q3 24 | $5.8M | $64.8M | ||
| Q2 24 | $7.0M | $49.1M |
毛利率CWSTFCFS
| Q1 26 | — | — | ||
| Q4 25 | 33.3% | — | ||
| Q3 25 | 35.0% | — | ||
| Q2 25 | 33.8% | — | ||
| Q1 25 | 32.8% | — | ||
| Q4 24 | 33.2% | — | ||
| Q3 24 | 35.1% | — | ||
| Q2 24 | 35.4% | — |
营业利润率CWSTFCFS
| Q1 26 | 0.9% | — | ||
| Q4 25 | 2.5% | 28.5% | ||
| Q3 25 | 6.1% | 27.4% | ||
| Q2 25 | 4.1% | 21.1% | ||
| Q1 25 | 0.8% | 30.0% | ||
| Q4 24 | 4.3% | 26.5% | ||
| Q3 24 | 5.9% | 23.5% | ||
| Q2 24 | 6.1% | 18.2% |
净利率CWSTFCFS
| Q1 26 | -1.0% | — | ||
| Q4 25 | -0.5% | 20.8% | ||
| Q3 25 | 2.1% | 20.1% | ||
| Q2 25 | 1.1% | 15.5% | ||
| Q1 25 | -1.2% | 22.5% | ||
| Q4 24 | 1.1% | 20.2% | ||
| Q3 24 | 1.4% | 17.9% | ||
| Q2 24 | 1.9% | 13.5% |
每股收益（稀释后）CWSTFCFS
| Q1 26 | $-0.09 | — | ||
| Q4 25 | $-0.04 | $2.35 | ||
| Q3 25 | $0.16 | $1.86 | ||
| Q2 25 | $0.08 | $1.34 | ||
| Q1 25 | $-0.08 | $1.87 | ||
| Q4 24 | $0.08 | $1.86 | ||
| Q3 24 | $0.10 | $1.44 | ||
| Q2 24 | $0.12 | $1.08 |
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 | $126.9M | $125.2M |
| 总债务越低越好 | — | $2.2B |
| 股东权益账面价值 | $1.6B | $2.3B |
| 总资产 | $3.3B | $5.3B |
| 负债/权益比越低杠杆越低 | — | 0.98× |
8季度趋势，按日历期对齐
现金及短期投资CWSTFCFS
| Q1 26 | $126.9M | — | ||
| Q4 25 | $123.8M | $125.2M | ||
| Q3 25 | $192.7M | $130.2M | ||
| Q2 25 | $217.8M | $101.5M | ||
| Q1 25 | $267.7M | $146.0M | ||
| Q4 24 | $358.3M | $175.1M | ||
| Q3 24 | $519.0M | $106.3M | ||
| Q2 24 | $208.5M | $113.7M |
总债务CWSTFCFS
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $2.2B | ||
| Q3 25 | $1.1B | $2.2B | ||
| Q2 25 | $1.1B | $1.7B | ||
| Q1 25 | $1.1B | $1.7B | ||
| Q4 24 | $1.1B | $1.7B | ||
| Q3 24 | $1.0B | $1.7B | ||
| Q2 24 | $976.6M | $1.7B |
股东权益CWSTFCFS
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.6B | $2.3B | ||
| Q3 25 | $1.6B | $2.2B | ||
| Q2 25 | $1.6B | $2.1B | ||
| Q1 25 | $1.5B | $2.1B | ||
| Q4 24 | $1.6B | $2.1B | ||
| Q3 24 | $1.5B | $2.0B | ||
| Q2 24 | $1.0B | $2.0B |
总资产CWSTFCFS
| Q1 26 | $3.3B | — | ||
| Q4 25 | $3.3B | $5.3B | ||
| Q3 25 | $3.3B | $5.2B | ||
| Q2 25 | $3.3B | $4.5B | ||
| Q1 25 | $3.2B | $4.4B | ||
| Q4 24 | $3.2B | $4.5B | ||
| Q3 24 | $3.1B | $4.4B | ||
| Q2 24 | $2.5B | $4.3B |
负债/权益比CWSTFCFS
| Q1 26 | — | — | ||
| Q4 25 | 0.72× | 0.98× | ||
| Q3 25 | 0.72× | 1.01× | ||
| Q2 25 | 0.72× | 0.79× | ||
| Q1 25 | 0.72× | 0.83× | ||
| Q4 24 | 0.70× | 0.85× | ||
| Q3 24 | 0.68× | 0.87× | ||
| Q2 24 | 0.94× | 0.85× |
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 | $62.3M | $206.6M |
| 自由现金流经营现金流 - 资本支出 | $30.7M | — |
| 自由现金流率自由现金流/营收 | 5.5% | — |
| 资本支出强度资本支出/营收 | 9.0% | — |
| 现金转化率经营现金流/净利润 | — | 1.98× |
| 过去12个月自由现金流最近4个季度 | $120.7M | — |
8季度趋势，按日历期对齐
经营现金流CWSTFCFS
| Q1 26 | $62.3M | — | ||
| Q4 25 | $96.6M | $206.6M | ||
| Q3 25 | $93.6M | $135.8M | ||
| Q2 25 | $89.5M | $116.9M | ||
| Q1 25 | $50.1M | $126.6M | ||
| Q4 24 | $109.8M | $198.1M | ||
| Q3 24 | $91.8M | $113.1M | ||
| Q2 24 | $72.1M | $106.2M |
自由现金流CWSTFCFS
| Q1 26 | $30.7M | — | ||
| 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 | — |
自由现金流率CWSTFCFS
| Q1 26 | 5.5% | — | ||
| 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% | — |
资本支出强度CWSTFCFS
| Q1 26 | 9.0% | — | ||
| 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% | — |
现金转化率CWSTFCFS
| Q1 26 | — | — | ||
| Q4 25 | — | 1.98× | ||
| Q3 25 | 9.37× | 1.64× | ||
| Q2 25 | 17.19× | 1.95× | ||
| Q1 25 | — | 1.51× | ||
| Q4 24 | 22.51× | 2.37× | ||
| Q3 24 | 15.91× | 1.74× | ||
| Q2 24 | 10.29× | 2.16× |
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
| Collection | $334.8M | 60% |
| Transfer station | $65.9M | 12% |
| Processing (ii) | $49.0M | 9% |
| Landfill | $48.0M | 9% |
| National Accounts (ii) | $45.6M | 8% |
| Transportation | $8.2M | 1% |
| Landfill gas-to-energy | $2.9M | 1% |
FCFS
| US Pawn Segment | $292.2M | 58% |
| Retail POS Payment Solutions | $209.8M | 42% |
