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CASELLA WASTE SYSTEMS INC（CWST）与Ubiquiti Inc.（UI）财务数据对比。点击上方公司名可切换其他公司
Ubiquiti Inc.的季度营收约是CASELLA WASTE SYSTEMS INC的1.5倍（$814.9M vs $557.2M），Ubiquiti Inc.净利率更高（28.7% vs -1.0%，领先29.7%），Ubiquiti Inc.同比增速更快（35.8% vs 9.6%），Ubiquiti Inc.自由现金流更多（$260.3M vs $30.7M），过去两年Ubiquiti Inc.的营收复合增速更高（28.6% vs 21.5%）
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。
Ubiquiti Inc.是一家美国科技企业，2003年于加利福尼亚州圣何塞成立，目前总部位于纽约。公司旗下拥有多个品牌，主营面向企业及家庭用户的有线、无线数据通信产品的研发、生产与销售。
CWST vs UI — 直观对比
营收规模更大
UI
是对方的1.5倍
$557.2M
营收增速更快
UI
高出26.2%
9.6%
净利率更高
UI
高出29.7%
-1.0%
自由现金流更多
UI
多$229.6M
$30.7M
两年增速更快
UI
近两年复合增速
21.5%
损益表 — Q1 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $557.2M | $814.9M |
| 净利润 | $-5.5M | $233.6M |
| 毛利率 | — | 45.9% |
| 营业利润率 | 0.9% | 35.9% |
| 净利率 | -1.0% | 28.7% |
| 营收同比 | 9.6% | 35.8% |
| 净利润同比 | -15.2% | 70.8% |
| 每股收益（稀释后） | $-0.09 | $3.86 |
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CWSTUI
| Q1 26 | $557.2M | — | ||
| Q4 25 | $469.1M | $814.9M | ||
| Q3 25 | $485.4M | $733.8M | ||
| Q2 25 | $465.3M | $759.2M | ||
| Q1 25 | $417.1M | $664.2M | ||
| Q4 24 | $427.5M | $599.9M | ||
| Q3 24 | $411.6M | $550.3M | ||
| Q2 24 | $377.2M | $507.5M |
净利润CWSTUI
| Q1 26 | $-5.5M | — | ||
| Q4 25 | $-2.5M | $233.6M | ||
| Q3 25 | $10.0M | $207.9M | ||
| Q2 25 | $5.2M | $266.7M | ||
| Q1 25 | $-4.8M | $180.4M | ||
| Q4 24 | $4.9M | $136.8M | ||
| Q3 24 | $5.8M | $128.0M | ||
| Q2 24 | $7.0M | $103.8M |
毛利率CWSTUI
| Q1 26 | — | — | ||
| Q4 25 | 33.3% | 45.9% | ||
| Q3 25 | 35.0% | 46.0% | ||
| Q2 25 | 33.8% | 45.1% | ||
| Q1 25 | 32.8% | 44.5% | ||
| Q4 24 | 33.2% | 41.2% | ||
| Q3 24 | 35.1% | 42.1% | ||
| Q2 24 | 35.4% | 40.2% |
营业利润率CWSTUI
| Q1 26 | 0.9% | — | ||
| Q4 25 | 2.5% | 35.9% | ||
| Q3 25 | 6.1% | 35.7% | ||
| Q2 25 | 4.1% | 34.4% | ||
| Q1 25 | 0.8% | 34.2% | ||
| Q4 24 | 4.3% | 29.8% | ||
| Q3 24 | 5.9% | 30.7% | ||
| Q2 24 | 6.1% | 27.3% |
净利率CWSTUI
| Q1 26 | -1.0% | — | ||
| Q4 25 | -0.5% | 28.7% | ||
| Q3 25 | 2.1% | 28.3% | ||
| Q2 25 | 1.1% | 35.1% | ||
| Q1 25 | -1.2% | 27.2% | ||
| Q4 24 | 1.1% | 22.8% | ||
| Q3 24 | 1.4% | 23.3% | ||
| Q2 24 | 1.9% | 20.5% |
每股收益（稀释后）CWSTUI
| Q1 26 | $-0.09 | — | ||
| Q4 25 | $-0.04 | $3.86 | ||
| Q3 25 | $0.16 | $3.43 | ||
| Q2 25 | $0.08 | $4.40 | ||
| Q1 25 | $-0.08 | $2.98 | ||
| Q4 24 | $0.08 | $2.26 | ||
| Q3 24 | $0.10 | $2.12 | ||
| Q2 24 | $0.12 | $1.72 |
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 | $302.8M |
| 总债务越低越好 | — | $47.5M |
| 股东权益账面价值 | $1.6B | $1.0B |
| 总资产 | $3.3B | $1.6B |
| 负债/权益比越低杠杆越低 | — | 0.05× |
8季度趋势，按日历期对齐
现金及短期投资CWSTUI
| Q1 26 | $126.9M | — | ||
| Q4 25 | $123.8M | $302.8M | ||
| Q3 25 | $192.7M | $177.2M | ||
| Q2 25 | $217.8M | $149.7M | ||
| Q1 25 | $267.7M | $151.0M | ||
| Q4 24 | $358.3M | $133.1M | ||
| Q3 24 | $519.0M | $165.2M | ||
| Q2 24 | $208.5M | $126.3M |
总债务CWSTUI
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $47.5M | ||
| Q3 25 | $1.1B | $133.8M | ||
| Q2 25 | $1.1B | $250.0M | ||
| Q1 25 | $1.1B | $340.0M | ||
| Q4 24 | $1.1B | $406.3M | ||
| Q3 24 | $1.0B | $552.5M | ||
| Q2 24 | $976.6M | $708.1M |
股东权益CWSTUI
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.6B | $1.0B | ||
| Q3 25 | $1.6B | $828.4M | ||
| Q2 25 | $1.6B | $668.3M | ||
| Q1 25 | $1.5B | $436.1M | ||
| Q4 24 | $1.6B | $290.4M | ||
| Q3 24 | $1.5B | $188.1M | ||
| Q2 24 | $1.0B | $95.1M |
总资产CWSTUI
| Q1 26 | $3.3B | — | ||
| Q4 25 | $3.3B | $1.6B | ||
| Q3 25 | $3.3B | $1.5B | ||
| Q2 25 | $3.3B | $1.5B | ||
| Q1 25 | $3.2B | $1.3B | ||
| Q4 24 | $3.2B | $1.2B | ||
| Q3 24 | $3.1B | $1.2B | ||
| Q2 24 | $2.5B | $1.2B |
负债/权益比CWSTUI
| Q1 26 | — | — | ||
| Q4 25 | 0.72× | 0.05× | ||
| Q3 25 | 0.72× | 0.16× | ||
| Q2 25 | 0.72× | 0.37× | ||
| Q1 25 | 0.72× | 0.78× | ||
| Q4 24 | 0.70× | 1.40× | ||
| Q3 24 | 0.68× | 2.94× | ||
| Q2 24 | 0.94× | 7.45× |
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 | $263.9M |
| 自由现金流经营现金流 - 资本支出 | $30.7M | $260.3M |
| 自由现金流率自由现金流/营收 | 5.5% | 31.9% |
| 资本支出强度资本支出/营收 | 9.0% | 0.4% |
| 现金转化率经营现金流/净利润 | — | 1.13× |
| 过去12个月自由现金流最近4个季度 | $120.7M | $699.5M |
8季度趋势，按日历期对齐
经营现金流CWSTUI
| Q1 26 | $62.3M | — | ||
| Q4 25 | $96.6M | $263.9M | ||
| Q3 25 | $93.6M | $198.5M | ||
| Q2 25 | $89.5M | $130.4M | ||
| Q1 25 | $50.1M | $123.6M | ||
| Q4 24 | $109.8M | $152.4M | ||
| Q3 24 | $91.8M | $233.7M | ||
| Q2 24 | $72.1M | $231.4M |
自由现金流CWSTUI
| Q1 26 | $30.7M | — | ||
| Q4 25 | $39.3M | $260.3M | ||
| Q3 25 | $27.6M | $193.3M | ||
| Q2 25 | $23.1M | $125.2M | ||
| Q1 25 | $-5.4M | $120.7M | ||
| Q4 24 | $32.9M | $150.4M | ||
| Q3 24 | $40.4M | $231.1M | ||
| Q2 24 | $27.5M | $229.5M |
自由现金流率CWSTUI
| Q1 26 | 5.5% | — | ||
| Q4 25 | 8.4% | 31.9% | ||
| Q3 25 | 5.7% | 26.3% | ||
| Q2 25 | 5.0% | 16.5% | ||
| Q1 25 | -1.3% | 18.2% | ||
| Q4 24 | 7.7% | 25.1% | ||
| Q3 24 | 9.8% | 42.0% | ||
| Q2 24 | 7.3% | 45.2% |
资本支出强度CWSTUI
| Q1 26 | 9.0% | — | ||
| Q4 25 | 12.2% | 0.4% | ||
| Q3 25 | 13.6% | 0.7% | ||
| Q2 25 | 14.3% | 0.7% | ||
| Q1 25 | 13.3% | 0.4% | ||
| Q4 24 | 18.0% | 0.3% | ||
| Q3 24 | 12.5% | 0.5% | ||
| Q2 24 | 11.8% | 0.4% |
现金转化率CWSTUI
| Q1 26 | — | — | ||
| Q4 25 | — | 1.13× | ||
| Q3 25 | 9.37× | 0.95× | ||
| Q2 25 | 17.19× | 0.49× | ||
| Q1 25 | — | 0.68× | ||
| Q4 24 | 22.51× | 1.11× | ||
| Q3 24 | 15.91× | 1.83× | ||
| Q2 24 | 10.29× | 2.23× |
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% |
UI
| Enterprise Technology | $729.0M | 89% |
| Service Provider Technology | $85.9M | 11% |
