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CALIFORNIA WATER SERVICE GROUP（CWT）与RESOURCES CONNECTION, INC.（RGP）财务数据对比。点击上方公司名可切换其他公司
CALIFORNIA WATER SERVICE GROUP的季度营收约是RESOURCES CONNECTION, INC.的1.8倍（$210.7M vs $117.7M），CALIFORNIA WATER SERVICE GROUP净利率更高（5.4% vs -10.8%，领先16.2%），CALIFORNIA WATER SERVICE GROUP同比增速更快（-3.3% vs -19.2%），过去两年CALIFORNIA WATER SERVICE GROUP的营收复合增速更高（16.6% vs -11.8%）
加利福尼亚水务集团是美国公共事业企业，主营饮用水及污水处理服务，是美国第三大上市投资者所有水务公司，通过加利福尼亚、夏威夷、新墨西哥、华盛顿等州的子公司，为约200万民众提供服务。集团成立于1997年，作为加州水务的控股主体，推动业务向美国其他各州拓展。
RGP原名 Resources Global Professionals，是 Resources Connection, Inc. 的核心运营主体，面向全球客户提供多领域专业咨询服务，覆盖财务会计、信息管理、治理风险合规、人力资本、法务监管、企业咨询与重组、战略传播以及供应链管理等板块。
CWT vs RGP — 直观对比
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $210.7M | $117.7M |
| 净利润 | $11.5M | $-12.7M |
| 毛利率 | — | 37.1% |
| 营业利润率 | 12.2% | -10.3% |
| 净利率 | 5.4% | -10.8% |
| 营收同比 | -3.3% | -19.2% |
| 净利润同比 | -41.0% | 81.6% |
| 每股收益（稀释后） | $0.19 | $-0.38 |
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
| Q4 25 | $210.7M | $117.7M | ||
| Q3 25 | $314.1M | $120.2M | ||
| Q2 25 | $256.2M | $139.3M | ||
| Q1 25 | $182.7M | $129.4M | ||
| Q4 24 | $217.8M | $145.6M | ||
| Q3 24 | $306.2M | $136.9M | ||
| Q2 24 | $226.7M | $148.2M | ||
| Q1 24 | $154.9M | $151.3M |
| Q4 25 | $11.5M | $-12.7M | ||
| Q3 25 | $61.2M | $-2.4M | ||
| Q2 25 | $42.2M | $-73.3M | ||
| Q1 25 | $13.3M | $-44.1M | ||
| Q4 24 | $19.5M | $-68.7M | ||
| Q3 24 | $60.7M | $-5.7M | ||
| Q2 24 | $40.6M | $10.5M | ||
| Q1 24 | $69.9M | $2.5M |
| Q4 25 | — | 37.1% | ||
| Q3 25 | — | 39.5% | ||
| Q2 25 | — | 40.2% | ||
| Q1 25 | — | 35.1% | ||
| Q4 24 | — | 38.5% | ||
| Q3 24 | — | 36.5% | ||
| Q2 24 | — | 40.2% | ||
| Q1 24 | — | 37.0% |
| Q4 25 | 12.2% | -10.3% | ||
| Q3 25 | 22.5% | -1.7% | ||
| Q2 25 | 20.2% | -47.0% | ||
| Q1 25 | 12.2% | -38.4% | ||
| Q4 24 | 14.8% | -52.7% | ||
| Q3 24 | 21.8% | -3.5% | ||
| Q2 24 | 21.2% | 7.6% | ||
| Q1 24 | 50.3% | 2.8% |
| Q4 25 | 5.4% | -10.8% | ||
| Q3 25 | 19.5% | -2.0% | ||
| Q2 25 | 16.5% | -52.6% | ||
| Q1 25 | 7.3% | -34.0% | ||
| Q4 24 | 8.9% | -47.2% | ||
| Q3 24 | 19.8% | -4.2% | ||
| Q2 24 | 17.9% | 7.1% | ||
| Q1 24 | 45.1% | 1.7% |
| Q4 25 | $0.19 | $-0.38 | ||
| Q3 25 | $1.03 | $-0.07 | ||
| Q2 25 | $0.71 | $-2.21 | ||
| Q1 25 | $0.22 | $-1.34 | ||
| Q4 24 | $0.31 | $-2.08 | ||
| Q3 24 | $1.03 | $-0.17 | ||
| Q2 24 | $0.70 | $0.31 | ||
| Q1 24 | $1.21 | $0.08 |
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 | $51.8M | $89.8M |
| 总债务越低越好 | $1.5B | — |
| 股东权益账面价值 | $1.7B | $194.6M |
| 总资产 | $5.7B | $289.3M |
| 负债/权益比越低杠杆越低 | 0.87× | — |
8季度趋势，按日历期对齐
| Q4 25 | $51.8M | $89.8M | ||
| Q3 25 | $76.0M | $77.5M | ||
| Q2 25 | $50.5M | $86.1M | ||
| Q1 25 | $44.5M | $72.5M | ||
| Q4 24 | $50.1M | $78.2M | ||
| Q3 24 | $59.6M | $89.6M | ||
| Q2 24 | $37.3M | $108.9M | ||
| Q1 24 | $42.8M | $113.8M |
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.7B | $194.6M | ||
| Q3 25 | $1.7B | $206.4M | ||
| Q2 25 | $1.7B | $207.1M | ||
| Q1 25 | $1.6B | $277.8M | ||
| Q4 24 | $1.6B | $325.7M | ||
| Q3 24 | $1.6B | $407.2M | ||
| Q2 24 | $1.5B | $418.8M | ||
| Q1 24 | $1.5B | $414.9M |
| Q4 25 | $5.7B | $289.3M | ||
| Q3 25 | $5.5B | $287.2M | ||
| Q2 25 | $5.4B | $304.7M | ||
| Q1 25 | $5.3B | $375.6M | ||
| Q4 24 | $5.2B | $424.9M | ||
| Q3 24 | $5.0B | $512.9M | ||
| Q2 24 | $4.9B | $510.9M | ||
| Q1 24 | $4.8B | $523.2M |
| Q4 25 | 0.87× | — | ||
| Q3 25 | 0.65× | — | ||
| Q2 25 | 0.67× | — | ||
| Q1 25 | 0.68× | — | ||
| Q4 24 | 0.67× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $47.9M | $15.9M |
| 自由现金流经营现金流 - 资本支出 | — | $15.6M |
| 自由现金流率自由现金流/营收 | — | 13.2% |
| 资本支出强度资本支出/营收 | — | 0.3% |
| 现金转化率经营现金流/净利润 | 4.17× | — |
| 过去12个月自由现金流最近4个季度 | — | $24.3M |
8季度趋势，按日历期对齐
| Q4 25 | $47.9M | $15.9M | ||
| Q3 25 | $167.3M | $-7.8M | ||
| Q2 25 | $48.9M | $16.8M | ||
| Q1 25 | $38.4M | $659.0K | ||
| Q4 24 | $68.1M | $1.8M | ||
| Q3 24 | $101.8M | $-309.0K | ||
| Q2 24 | $94.4M | $3.2M | ||
| Q1 24 | $26.5M | $20.5M |
| Q4 25 | — | $15.6M | ||
| Q3 25 | — | $-8.0M | ||
| Q2 25 | — | $16.5M | ||
| Q1 25 | — | $238.0K | ||
| Q4 24 | — | $61.0K | ||
| Q3 24 | — | $-575.0K | ||
| Q2 24 | — | $3.0M | ||
| Q1 24 | — | $20.4M |
| Q4 25 | — | 13.2% | ||
| Q3 25 | — | -6.6% | ||
| Q2 25 | — | 11.8% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | — | 0.0% | ||
| Q3 24 | — | -0.4% | ||
| Q2 24 | — | 2.1% | ||
| Q1 24 | — | 13.5% |
| Q4 25 | — | 0.3% | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | — | 0.3% | ||
| Q4 24 | — | 1.2% | ||
| Q3 24 | — | 0.2% | ||
| Q2 24 | — | 0.1% | ||
| Q1 24 | — | 0.1% |
| Q4 25 | 4.17× | — | ||
| Q3 25 | 2.73× | — | ||
| Q2 25 | 1.16× | — | ||
| Q1 25 | 2.88× | — | ||
| Q4 24 | 3.50× | — | ||
| Q3 24 | 1.68× | — | ||
| Q2 24 | 2.33× | 0.30× | ||
| Q1 24 | 0.38× | 8.04× |
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
CWT
| Residential | $133.2M | 63% |
| Business | $47.7M | 23% |
| Public Authorities | $13.4M | 6% |
| Industrial | $6.9M | 3% |
| Non Regulated Services | $4.8M | 2% |
| Other Non Regulated Service | $1.2M | 1% |
RGP
| US | $93.7M | 80% |
| Non Us | $24.0M | 20% |
