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CASELLA WASTE SYSTEMS INC（CWST）与Quest Resource Holding Corp（QRHC）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Quest Resource Holding Corp的8.0倍（$469.1M vs $58.9M）。CASELLA WASTE SYSTEMS INC净利率更高（-0.5% vs -2.8%，领先2.3%）。CASELLA WASTE SYSTEMS INC同比增速更快（9.7% vs -15.8%）。CASELLA WASTE SYSTEMS INC自由现金流更多（$39.3M vs $1.0M）。过去两年CASELLA WASTE SYSTEMS INC的营收复合增速更高（17.3% vs -10.0%）
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。
Quest Resource Holding Corp是北美地区的可持续发展及废弃物管理服务提供商，面向商业、工业及零售客户提供一体化废弃物回收、资源化利用解决方案，帮助企业减少废弃物排放、降低运营成本，达成既定环保目标。
CWST vs QRHC — 直观对比
营收规模更大
CWST
是对方的8.0倍
$58.9M
营收增速更快
CWST
高出25.5%
-15.8%
净利率更高
CWST
高出2.3%
-2.8%
自由现金流更多
CWST
多$38.3M
$1.0M
两年增速更快
CWST
近两年复合增速
-10.0%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $469.1M | $58.9M |
| 净利润 | $-2.5M | $-1.7M |
| 毛利率 | 33.3% | 15.5% |
| 营业利润率 | 2.5% | 0.9% |
| 净利率 | -0.5% | -2.8% |
| 营收同比 | 9.7% | -15.8% |
| 净利润同比 | -151.5% | 82.6% |
| 每股收益（稀释后） | $-0.04 | $-0.08 |
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CWSTQRHC
| Q4 25 | $469.1M | $58.9M | ||
| Q3 25 | $485.4M | $63.3M | ||
| Q2 25 | $465.3M | $59.5M | ||
| Q1 25 | $417.1M | $68.4M | ||
| Q4 24 | $427.5M | $70.0M | ||
| Q3 24 | $411.6M | $72.8M | ||
| Q2 24 | $377.2M | $73.1M | ||
| Q1 24 | $341.0M | $72.7M |
净利润CWSTQRHC
| Q4 25 | $-2.5M | $-1.7M | ||
| Q3 25 | $10.0M | $-1.3M | ||
| Q2 25 | $5.2M | $-2.0M | ||
| Q1 25 | $-4.8M | $-10.4M | ||
| Q4 24 | $4.9M | $-9.5M | ||
| Q3 24 | $5.8M | $-3.4M | ||
| Q2 24 | $7.0M | $-1.5M | ||
| Q1 24 | $-4.1M | $-655.0K |
毛利率CWSTQRHC
| Q4 25 | 33.3% | 15.5% | ||
| Q3 25 | 35.0% | 18.1% | ||
| Q2 25 | 33.8% | 18.5% | ||
| Q1 25 | 32.8% | 16.0% | ||
| Q4 24 | 33.2% | 15.3% | ||
| Q3 24 | 35.1% | 16.1% | ||
| Q2 24 | 35.4% | 18.5% | ||
| Q1 24 | 32.3% | 19.3% |
营业利润率CWSTQRHC
| Q4 25 | 2.5% | 0.9% | ||
| Q3 25 | 6.1% | 1.7% | ||
| Q2 25 | 4.1% | 0.6% | ||
| Q1 25 | 0.8% | -11.9% | ||
| Q4 24 | 4.3% | -10.3% | ||
| Q3 24 | 5.9% | -1.3% | ||
| Q2 24 | 6.1% | 2.4% | ||
| Q1 24 | 2.0% | 2.6% |
净利率CWSTQRHC
| Q4 25 | -0.5% | -2.8% | ||
| Q3 25 | 2.1% | -2.1% | ||
| Q2 25 | 1.1% | -3.3% | ||
| Q1 25 | -1.2% | -15.2% | ||
| Q4 24 | 1.1% | -13.6% | ||
| Q3 24 | 1.4% | -4.7% | ||
| Q2 24 | 1.9% | -2.1% | ||
| Q1 24 | -1.2% | -0.9% |
每股收益（稀释后）CWSTQRHC
| Q4 25 | $-0.04 | $-0.08 | ||
| Q3 25 | $0.16 | $-0.06 | ||
| Q2 25 | $0.08 | $-0.09 | ||
| Q1 25 | $-0.08 | $-0.50 | ||
| Q4 24 | $0.08 | $-0.47 | ||
| Q3 24 | $0.10 | $-0.16 | ||
| Q2 24 | $0.12 | $-0.07 | ||
| Q1 24 | $-0.07 | $-0.03 |
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 | $1.0M |
| 总债务越低越好 | $1.1B | $64.0M |
| 股东权益账面价值 | $1.6B | $40.5M |
| 总资产 | $3.3B | $145.6M |
| 负债/权益比越低杠杆越低 | 0.72× | 1.58× |
8季度趋势，按日历期对齐
现金及短期投资CWSTQRHC
| Q4 25 | $123.8M | $1.0M | ||
| Q3 25 | $192.7M | $1.1M | ||
| Q2 25 | $217.8M | $449.0K | ||
| Q1 25 | $267.7M | $1.4M | ||
| Q4 24 | $358.3M | $396.0K | ||
| Q3 24 | $519.0M | $1.1M | ||
| Q2 24 | $208.5M | $957.5K | ||
| Q1 24 | $189.5M | $581.1K |
总债务CWSTQRHC
| Q4 25 | $1.1B | $64.0M | ||
| Q3 25 | $1.1B | $65.4M | ||
| Q2 25 | $1.1B | $69.7M | ||
| Q1 25 | $1.1B | $74.1M | ||
| Q4 24 | $1.1B | $76.3M | ||
| Q3 24 | $1.0B | $71.9M | ||
| Q2 24 | $976.6M | $70.7M | ||
| Q1 24 | $980.9M | $68.5M |
股东权益CWSTQRHC
| Q4 25 | $1.6B | $40.5M | ||
| Q3 25 | $1.6B | $42.0M | ||
| Q2 25 | $1.6B | $42.9M | ||
| Q1 25 | $1.5B | $44.4M | ||
| Q4 24 | $1.6B | $54.2M | ||
| Q3 24 | $1.5B | $62.8M | ||
| Q2 24 | $1.0B | $65.6M | ||
| Q1 24 | $1.0B | $66.3M |
总资产CWSTQRHC
| Q4 25 | $3.3B | $145.6M | ||
| Q3 25 | $3.3B | $149.3M | ||
| Q2 25 | $3.3B | $153.1M | ||
| Q1 25 | $3.2B | $165.7M | ||
| Q4 24 | $3.2B | $175.6M | ||
| Q3 24 | $3.1B | $178.2M | ||
| Q2 24 | $2.5B | $181.8M | ||
| Q1 24 | $2.5B | $179.0M |
负债/权益比CWSTQRHC
| Q4 25 | 0.72× | 1.58× | ||
| Q3 25 | 0.72× | 1.56× | ||
| Q2 25 | 0.72× | 1.62× | ||
| Q1 25 | 0.72× | 1.67× | ||
| Q4 24 | 0.70× | 1.41× | ||
| Q3 24 | 0.68× | 1.15× | ||
| Q2 24 | 0.94× | 1.08× | ||
| Q1 24 | 0.96× | 1.03× |
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 | $1.1M |
| 自由现金流经营现金流 - 资本支出 | $39.3M | $1.0M |
| 自由现金流率自由现金流/营收 | 8.4% | 1.7% |
| 资本支出强度资本支出/营收 | 12.2% | 0.1% |
| 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 | $9.3M |
8季度趋势，按日历期对齐
经营现金流CWSTQRHC
| Q4 25 | $96.6M | $1.1M | ||
| Q3 25 | $93.6M | $5.7M | ||
| Q2 25 | $89.5M | $3.9M | ||
| Q1 25 | $50.1M | $-1.1M | ||
| Q4 24 | $109.8M | $-4.8M | ||
| Q3 24 | $91.8M | $-475.0K | ||
| Q2 24 | $72.1M | $808.0K | ||
| Q1 24 | $7.7M | $-1.7M |
自由现金流CWSTQRHC
| Q4 25 | $39.3M | $1.0M | ||
| Q3 25 | $27.6M | $5.6M | ||
| Q2 25 | $23.1M | $3.9M | ||
| Q1 25 | $-5.4M | $-1.2M | ||
| Q4 24 | $32.9M | $-5.2M | ||
| Q3 24 | $40.4M | $-583.0K | ||
| Q2 24 | $27.5M | $-1.4M | ||
| Q1 24 | $-22.6M | $-3.6M |
自由现金流率CWSTQRHC
| Q4 25 | 8.4% | 1.7% | ||
| Q3 25 | 5.7% | 8.9% | ||
| Q2 25 | 5.0% | 6.5% | ||
| Q1 25 | -1.3% | -1.8% | ||
| Q4 24 | 7.7% | -7.4% | ||
| Q3 24 | 9.8% | -0.8% | ||
| Q2 24 | 7.3% | -2.0% | ||
| Q1 24 | -6.6% | -4.9% |
资本支出强度CWSTQRHC
| Q4 25 | 12.2% | 0.1% | ||
| Q3 25 | 13.6% | 0.0% | ||
| Q2 25 | 14.3% | 0.0% | ||
| Q1 25 | 13.3% | 0.2% | ||
| Q4 24 | 18.0% | 0.6% | ||
| Q3 24 | 12.5% | 0.1% | ||
| Q2 24 | 11.8% | 3.1% | ||
| Q1 24 | 8.9% | 2.6% |
现金转化率CWSTQRHC
| Q4 25 | — | — | ||
| Q3 25 | 9.37× | — | ||
| Q2 25 | 17.19× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 22.51× | — | ||
| Q3 24 | 15.91× | — | ||
| Q2 24 | 10.29× | — | ||
| 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% |
QRHC
| Services | $55.8M | 95% |
| Product Sales And Other | $3.1M | 5% |
