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CASELLA WASTE SYSTEMS INC（CWST）与Reddit, Inc.（RDDT）财务数据对比。点击上方公司名可切换其他公司
Reddit, Inc.的季度营收约是CASELLA WASTE SYSTEMS INC的1.5倍（$725.6M vs $469.1M），Reddit, Inc.净利率更高（34.7% vs -0.5%，领先35.2%），Reddit, Inc.同比增速更快（69.7% vs 9.7%），Reddit, Inc.自由现金流更多（$263.6M vs $39.3M），过去两年Reddit, Inc.的营收复合增速更高（72.8% vs 17.3%）
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。
Reddit是美国知名的社交新闻聚合与论坛类社交媒体平台，注册用户可发布链接、文字帖、图片、视频等各类内容，其他用户可对内容进行点赞或点踩，内容按主题归类到用户创建的子板块中，获赞更高的内容会排在板块前列，热度足够的内容还将展示在全站首页。
CWST vs RDDT — 直观对比
营收规模更大
RDDT
是对方的1.5倍
$469.1M
营收增速更快
RDDT
高出59.9%
9.7%
净利率更高
RDDT
高出35.2%
-0.5%
自由现金流更多
RDDT
多$224.3M
$39.3M
两年增速更快
RDDT
近两年复合增速
17.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $469.1M | $725.6M |
| 净利润 | $-2.5M | $251.6M |
| 毛利率 | 33.3% | 91.9% |
| 营业利润率 | 2.5% | 31.9% |
| 净利率 | -0.5% | 34.7% |
| 营收同比 | 9.7% | 69.7% |
| 净利润同比 | -151.5% | 254.2% |
| 每股收益（稀释后） | $-0.04 | $1.24 |
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CWSTRDDT
| Q4 25 | $469.1M | $725.6M | ||
| Q3 25 | $485.4M | $584.9M | ||
| Q2 25 | $465.3M | $499.6M | ||
| Q1 25 | $417.1M | $392.4M | ||
| Q4 24 | $427.5M | $427.7M | ||
| Q3 24 | $411.6M | $348.4M | ||
| Q2 24 | $377.2M | $281.2M | ||
| Q1 24 | $341.0M | $243.0M |
净利润CWSTRDDT
| Q4 25 | $-2.5M | $251.6M | ||
| Q3 25 | $10.0M | $162.7M | ||
| Q2 25 | $5.2M | $89.3M | ||
| Q1 25 | $-4.8M | $26.2M | ||
| Q4 24 | $4.9M | $71.0M | ||
| Q3 24 | $5.8M | $29.9M | ||
| Q2 24 | $7.0M | $-10.1M | ||
| Q1 24 | $-4.1M | $-575.1M |
毛利率CWSTRDDT
| Q4 25 | 33.3% | 91.9% | ||
| Q3 25 | 35.0% | 91.0% | ||
| Q2 25 | 33.8% | 90.8% | ||
| Q1 25 | 32.8% | 90.5% | ||
| Q4 24 | 33.2% | 92.6% | ||
| Q3 24 | 35.1% | 90.1% | ||
| Q2 24 | 35.4% | 89.5% | ||
| Q1 24 | 32.3% | 88.6% |
营业利润率CWSTRDDT
| Q4 25 | 2.5% | 31.9% | ||
| Q3 25 | 6.1% | 23.7% | ||
| Q2 25 | 4.1% | 13.6% | ||
| Q1 25 | 0.8% | 1.0% | ||
| Q4 24 | 4.3% | 12.4% | ||
| Q3 24 | 5.9% | 2.0% | ||
| Q2 24 | 6.1% | -11.0% | ||
| Q1 24 | 2.0% | -242.5% |
净利率CWSTRDDT
| Q4 25 | -0.5% | 34.7% | ||
| Q3 25 | 2.1% | 27.8% | ||
| Q2 25 | 1.1% | 17.9% | ||
| Q1 25 | -1.2% | 6.7% | ||
| Q4 24 | 1.1% | 16.6% | ||
| Q3 24 | 1.4% | 8.6% | ||
| Q2 24 | 1.9% | -3.6% | ||
| Q1 24 | -1.2% | -236.7% |
每股收益（稀释后）CWSTRDDT
| Q4 25 | $-0.04 | $1.24 | ||
| Q3 25 | $0.16 | $0.80 | ||
| Q2 25 | $0.08 | $0.45 | ||
| Q1 25 | $-0.08 | $0.13 | ||
| Q4 24 | $0.08 | $4.76 | ||
| Q3 24 | $0.10 | $0.16 | ||
| Q2 24 | $0.12 | $-0.06 | ||
| Q1 24 | $-0.07 | $-8.19 |
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 | $953.6M |
| 总债务越低越好 | $1.1B | — |
| 股东权益账面价值 | $1.6B | $2.9B |
| 总资产 | $3.3B | $3.2B |
| 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CWSTRDDT
| Q4 25 | $123.8M | $953.6M | ||
| Q3 25 | $192.7M | $911.7M | ||
| Q2 25 | $217.8M | $734.1M | ||
| Q1 25 | $267.7M | $635.7M | ||
| Q4 24 | $358.3M | $562.1M | ||
| Q3 24 | $519.0M | $515.9M | ||
| Q2 24 | $208.5M | $468.0M | ||
| Q1 24 | $189.5M | $968.5M |
总债务CWSTRDDT
| 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CWSTRDDT
| Q4 25 | $1.6B | $2.9B | ||
| Q3 25 | $1.6B | $2.6B | ||
| Q2 25 | $1.6B | $2.4B | ||
| Q1 25 | $1.5B | $2.2B | ||
| Q4 24 | $1.6B | $2.1B | ||
| Q3 24 | $1.5B | $2.0B | ||
| Q2 24 | $1.0B | $1.9B | ||
| Q1 24 | $1.0B | $1.8B |
总资产CWSTRDDT
| Q4 25 | $3.3B | $3.2B | ||
| Q3 25 | $3.3B | $2.9B | ||
| Q2 25 | $3.3B | $2.6B | ||
| Q1 25 | $3.2B | $2.4B | ||
| Q4 24 | $3.2B | $2.3B | ||
| Q3 24 | $3.1B | $2.2B | ||
| Q2 24 | $2.5B | $2.1B | ||
| Q1 24 | $2.5B | $2.0B |
负债/权益比CWSTRDDT
| 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 | $266.8M |
| 自由现金流经营现金流 - 资本支出 | $39.3M | $263.6M |
| 自由现金流率自由现金流/营收 | 8.4% | 36.3% |
| 资本支出强度资本支出/营收 | 12.2% | 0.4% |
| 现金转化率经营现金流/净利润 | — | 1.06× |
| 过去12个月自由现金流最近4个季度 | $84.7M | $684.2M |
8季度趋势，按日历期对齐
经营现金流CWSTRDDT
| Q4 25 | $96.6M | $266.8M | ||
| Q3 25 | $93.6M | $185.2M | ||
| Q2 25 | $89.5M | $111.3M | ||
| Q1 25 | $50.1M | $127.6M | ||
| Q4 24 | $109.8M | $90.0M | ||
| Q3 24 | $91.8M | $71.6M | ||
| Q2 24 | $72.1M | $28.4M | ||
| Q1 24 | $7.7M | $32.1M |
自由现金流CWSTRDDT
| Q4 25 | $39.3M | $263.6M | ||
| Q3 25 | $27.6M | $183.1M | ||
| Q2 25 | $23.1M | $110.8M | ||
| Q1 25 | $-5.4M | $126.6M | ||
| Q4 24 | $32.9M | $89.2M | ||
| Q3 24 | $40.4M | $70.3M | ||
| Q2 24 | $27.5M | $27.2M | ||
| Q1 24 | $-22.6M | $29.2M |
自由现金流率CWSTRDDT
| Q4 25 | 8.4% | 36.3% | ||
| Q3 25 | 5.7% | 31.3% | ||
| Q2 25 | 5.0% | 22.2% | ||
| Q1 25 | -1.3% | 32.3% | ||
| Q4 24 | 7.7% | 20.8% | ||
| Q3 24 | 9.8% | 20.2% | ||
| Q2 24 | 7.3% | 9.7% | ||
| Q1 24 | -6.6% | 12.0% |
资本支出强度CWSTRDDT
| Q4 25 | 12.2% | 0.4% | ||
| Q3 25 | 13.6% | 0.4% | ||
| Q2 25 | 14.3% | 0.1% | ||
| Q1 25 | 13.3% | 0.2% | ||
| Q4 24 | 18.0% | 0.2% | ||
| Q3 24 | 12.5% | 0.4% | ||
| Q2 24 | 11.8% | 0.4% | ||
| Q1 24 | 8.9% | 1.2% |
现金转化率CWSTRDDT
| Q4 25 | — | 1.06× | ||
| Q3 25 | 9.37× | 1.14× | ||
| Q2 25 | 17.19× | 1.25× | ||
| Q1 25 | — | 4.88× | ||
| Q4 24 | 22.51× | 1.27× | ||
| Q3 24 | 15.91× | 2.40× | ||
| 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% |
RDDT
| Advertising | $689.7M | 95% |
| Other Revenue | $35.9M | 5% |
