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CASELLA WASTE SYSTEMS INC（CWST）与SCANSOURCE, INC.（SCSC）财务数据对比。点击上方公司名可切换其他公司
SCANSOURCE, INC.的季度营收约是CASELLA WASTE SYSTEMS INC的1.4倍（$766.5M vs $557.2M），SCANSOURCE, INC.净利率更高（2.2% vs -1.0%，领先3.1%），CASELLA WASTE SYSTEMS INC同比增速更快（9.6% vs 2.5%），CASELLA WASTE SYSTEMS INC自由现金流更多（$30.7M vs $28.9M），过去两年CASELLA WASTE SYSTEMS INC的营收复合增速更高（21.5% vs 0.9%）
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。
ScanSource是全球领先的专业技术分销商，主营销售点系统、条码扫描设备、网络安全产品、云服务及通信解决方案，面向北美、拉美、欧洲的增值经销商、服务提供商及企业客户，覆盖零售、医疗、工业、公共部门等领域。
CWST vs SCSC — 直观对比
营收规模更大
SCSC
是对方的1.4倍
$557.2M
营收增速更快
CWST
高出7.1%
2.5%
净利率更高
SCSC
高出3.1%
-1.0%
自由现金流更多
CWST
多$1.8M
$28.9M
两年增速更快
CWST
近两年复合增速
0.9%
损益表 — Q1 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $557.2M | $766.5M |
| 净利润 | $-5.5M | $16.5M |
| 毛利率 | — | 13.4% |
| 营业利润率 | 0.9% | 2.3% |
| 净利率 | -1.0% | 2.2% |
| 营收同比 | 9.6% | 2.5% |
| 净利润同比 | -15.2% | -3.3% |
| 每股收益（稀释后） | $-0.09 | $0.75 |
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CWSTSCSC
| Q1 26 | $557.2M | — | ||
| Q4 25 | $469.1M | $766.5M | ||
| Q3 25 | $485.4M | $739.6M | ||
| Q2 25 | $465.3M | $812.9M | ||
| Q1 25 | $417.1M | $704.8M | ||
| Q4 24 | $427.5M | $747.5M | ||
| Q3 24 | $411.6M | $775.6M | ||
| Q2 24 | $377.2M | $746.1M |
净利润CWSTSCSC
| Q1 26 | $-5.5M | — | ||
| Q4 25 | $-2.5M | $16.5M | ||
| Q3 25 | $10.0M | $19.9M | ||
| Q2 25 | $5.2M | $20.1M | ||
| Q1 25 | $-4.8M | $17.4M | ||
| Q4 24 | $4.9M | $17.1M | ||
| Q3 24 | $5.8M | $17.0M | ||
| Q2 24 | $7.0M | $16.1M |
毛利率CWSTSCSC
| Q1 26 | — | — | ||
| Q4 25 | 33.3% | 13.4% | ||
| Q3 25 | 35.0% | 14.5% | ||
| Q2 25 | 33.8% | 12.9% | ||
| Q1 25 | 32.8% | 14.2% | ||
| Q4 24 | 33.2% | 13.6% | ||
| Q3 24 | 35.1% | 13.1% | ||
| Q2 24 | 35.4% | 13.0% |
营业利润率CWSTSCSC
| Q1 26 | 0.9% | — | ||
| Q4 25 | 2.5% | 2.3% | ||
| Q3 25 | 6.1% | 3.5% | ||
| Q2 25 | 4.1% | 3.3% | ||
| Q1 25 | 0.8% | 3.2% | ||
| Q4 24 | 4.3% | 2.5% | ||
| Q3 24 | 5.9% | 2.3% | ||
| Q2 24 | 6.1% | 2.9% |
净利率CWSTSCSC
| Q1 26 | -1.0% | — | ||
| Q4 25 | -0.5% | 2.2% | ||
| Q3 25 | 2.1% | 2.7% | ||
| Q2 25 | 1.1% | 2.5% | ||
| Q1 25 | -1.2% | 2.5% | ||
| Q4 24 | 1.1% | 2.3% | ||
| Q3 24 | 1.4% | 2.2% | ||
| Q2 24 | 1.9% | 2.2% |
每股收益（稀释后）CWSTSCSC
| Q1 26 | $-0.09 | — | ||
| Q4 25 | $-0.04 | $0.75 | ||
| Q3 25 | $0.16 | $0.89 | ||
| Q2 25 | $0.08 | $0.87 | ||
| Q1 25 | $-0.08 | $0.74 | ||
| Q4 24 | $0.08 | $0.70 | ||
| Q3 24 | $0.10 | $0.69 | ||
| Q2 24 | $0.12 | $0.66 |
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 | $83.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.6B | $910.9M |
| 总资产 | $3.3B | $1.7B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资CWSTSCSC
| Q1 26 | $126.9M | — | ||
| Q4 25 | $123.8M | $83.5M | ||
| Q3 25 | $192.7M | $124.9M | ||
| Q2 25 | $217.8M | $126.2M | ||
| Q1 25 | $267.7M | $146.3M | ||
| Q4 24 | $358.3M | $110.5M | ||
| Q3 24 | $519.0M | $145.0M | ||
| Q2 24 | $208.5M | $185.5M |
总债务CWSTSCSC
| Q1 26 | — | — | ||
| 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 | — |
股东权益CWSTSCSC
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.6B | $910.9M | ||
| Q3 25 | $1.6B | $914.0M | ||
| Q2 25 | $1.6B | $906.4M | ||
| Q1 25 | $1.5B | $901.7M | ||
| Q4 24 | $1.6B | $900.7M | ||
| Q3 24 | $1.5B | $920.9M | ||
| Q2 24 | $1.0B | $924.3M |
总资产CWSTSCSC
| Q1 26 | $3.3B | — | ||
| Q4 25 | $3.3B | $1.7B | ||
| Q3 25 | $3.3B | $1.7B | ||
| Q2 25 | $3.3B | $1.8B | ||
| Q1 25 | $3.2B | $1.7B | ||
| Q4 24 | $3.2B | $1.7B | ||
| Q3 24 | $3.1B | $1.8B | ||
| Q2 24 | $2.5B | $1.8B |
负债/权益比CWSTSCSC
| Q1 26 | — | — | ||
| 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× | — |
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 | $30.8M |
| 自由现金流经营现金流 - 资本支出 | $30.7M | $28.9M |
| 自由现金流率自由现金流/营收 | 5.5% | 3.8% |
| 资本支出强度资本支出/营收 | 9.0% | 0.3% |
| 现金转化率经营现金流/净利润 | — | 1.87× |
| 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CWSTSCSC
| Q1 26 | $62.3M | — | ||
| Q4 25 | $96.6M | $30.8M | ||
| Q3 25 | $93.6M | $23.2M | ||
| Q2 25 | $89.5M | — | ||
| Q1 25 | $50.1M | $66.1M | ||
| Q4 24 | $109.8M | $-6.2M | ||
| Q3 24 | $91.8M | $44.8M | ||
| Q2 24 | $72.1M | — |
自由现金流CWSTSCSC
| Q1 26 | $30.7M | — | ||
| Q4 25 | $39.3M | $28.9M | ||
| Q3 25 | $27.6M | $20.8M | ||
| Q2 25 | $23.1M | — | ||
| Q1 25 | $-5.4M | $64.6M | ||
| Q4 24 | $32.9M | $-8.2M | ||
| Q3 24 | $40.4M | $42.5M | ||
| Q2 24 | $27.5M | — |
自由现金流率CWSTSCSC
| Q1 26 | 5.5% | — | ||
| Q4 25 | 8.4% | 3.8% | ||
| Q3 25 | 5.7% | 2.8% | ||
| Q2 25 | 5.0% | — | ||
| Q1 25 | -1.3% | 9.2% | ||
| Q4 24 | 7.7% | -1.1% | ||
| Q3 24 | 9.8% | 5.5% | ||
| Q2 24 | 7.3% | — |
资本支出强度CWSTSCSC
| Q1 26 | 9.0% | — | ||
| Q4 25 | 12.2% | 0.3% | ||
| Q3 25 | 13.6% | 0.3% | ||
| Q2 25 | 14.3% | 0.3% | ||
| Q1 25 | 13.3% | 0.2% | ||
| Q4 24 | 18.0% | 0.3% | ||
| Q3 24 | 12.5% | 0.3% | ||
| Q2 24 | 11.8% | 0.2% |
现金转化率CWSTSCSC
| Q1 26 | — | — | ||
| Q4 25 | — | 1.87× | ||
| Q3 25 | 9.37× | 1.17× | ||
| Q2 25 | 17.19× | — | ||
| Q1 25 | — | 3.79× | ||
| Q4 24 | 22.51× | -0.36× | ||
| Q3 24 | 15.91× | 2.64× | ||
| Q2 24 | 10.29× | — |
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% |
SCSC
| Products And Services | $723.4M | 94% |
| Intelisys Advisory | $25.0M | 3% |
| Recurring Revenue | $18.2M | 2% |
