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凯撒娱乐（CZR）与德事隆（TXT）财务数据对比。点击上方公司名可切换其他公司
德事隆的季度营收约是凯撒娱乐的1.5倍（$4.2B vs $2.9B），德事隆净利率更高（5.6% vs -2.9%，领先8.5%），德事隆同比增速更快（15.6% vs 2.7%），过去两年德事隆的营收复合增速更高（15.4% vs 0.7%）
凯撒娱乐前身为埃尔拉多度假村公司，是总部位于美国内华达州里诺的酒店博彩娱乐集团。2020年7月20日公司收购原凯撒娱乐集团后更为现名，目前运营超过50处物业，业务覆盖酒店、博彩、休闲娱乐等多个领域。
德事隆是总部位于美国罗德岛州普罗维登斯的工业集团，1923年由罗亚尔·利特尔创立，前身为特种纱线公司。旗下拥有贝尔德事隆、考泰斯、德事隆航空、莱康明发动机等子公司，业务覆盖25个国家，2020年员工总数超3.3万人，2021年位列美国财富500强第265位。
CZR vs TXT — 直观对比
营收规模更大
TXT
是对方的1.5倍
$2.9B
营收增速更快
TXT
高出12.8%
2.7%
净利率更高
TXT
高出8.5%
-2.9%
两年增速更快
TXT
近两年复合增速
0.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.9B | $4.2B |
| 净利润 | $-83.0M | $235.0M |
| 毛利率 | — | — |
| 营业利润率 | 17.4% | — |
| 净利率 | -2.9% | 5.6% |
| 营收同比 | 2.7% | 15.6% |
| 净利润同比 | 15.3% | 66.7% |
| 每股收益（稀释后） | $-0.48 | — |
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CZRTXT
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $4.2B | ||
| Q3 25 | $2.9B | $3.6B | ||
| Q2 25 | $2.9B | $3.7B | ||
| Q1 25 | $2.8B | $3.3B | ||
| Q4 24 | $2.8B | $3.6B | ||
| Q3 24 | $2.9B | $3.4B | ||
| Q2 24 | $2.8B | $3.5B |
净利润CZRTXT
| Q1 26 | $-83.0M | — | ||
| Q4 25 | $-250.0M | $235.0M | ||
| Q3 25 | $-55.0M | $234.0M | ||
| Q2 25 | $-82.0M | $245.0M | ||
| Q1 25 | $-115.0M | $207.0M | ||
| Q4 24 | $11.0M | $141.0M | ||
| Q3 24 | $-9.0M | $223.0M | ||
| Q2 24 | $-122.0M | $259.0M |
营业利润率CZRTXT
| Q1 26 | 17.4% | — | ||
| Q4 25 | 11.4% | — | ||
| Q3 25 | 17.9% | — | ||
| Q2 25 | 18.1% | — | ||
| Q1 25 | 17.5% | — | ||
| Q4 24 | 23.9% | 3.6% | ||
| Q3 24 | 22.4% | 7.4% | ||
| Q2 24 | 17.9% | 9.2% |
净利率CZRTXT
| Q1 26 | -2.9% | — | ||
| Q4 25 | -8.6% | 5.6% | ||
| Q3 25 | -1.9% | 6.5% | ||
| Q2 25 | -2.8% | 6.6% | ||
| Q1 25 | -4.1% | 6.3% | ||
| Q4 24 | 0.4% | 3.9% | ||
| Q3 24 | -0.3% | 6.5% | ||
| Q2 24 | -4.3% | 7.3% |
每股收益（稀释后）CZRTXT
| Q1 26 | $-0.48 | — | ||
| Q4 25 | $-1.22 | — | ||
| Q3 25 | $-0.27 | — | ||
| Q2 25 | $-0.39 | — | ||
| Q1 25 | $-0.54 | $1.13 | ||
| Q4 24 | $0.04 | — | ||
| Q3 24 | $-0.04 | — | ||
| Q2 24 | $-0.56 | — |
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 | $867.0M | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | — |
| 总资产 | — | — |
| 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CZRTXT
| Q1 26 | $867.0M | — | ||
| Q4 25 | $887.0M | — | ||
| Q3 25 | $836.0M | — | ||
| Q2 25 | $982.0M | — | ||
| Q1 25 | $884.0M | — | ||
| Q4 24 | $866.0M | — | ||
| Q3 24 | $802.0M | — | ||
| Q2 24 | $830.0M | — |
总债务CZRTXT
| Q1 26 | — | — | ||
| Q4 25 | $11.9B | — | ||
| Q3 25 | $11.9B | — | ||
| Q2 25 | $12.3B | — | ||
| Q1 25 | $12.3B | — | ||
| Q4 24 | $12.3B | — | ||
| Q3 24 | $12.7B | — | ||
| Q2 24 | $12.4B | — |
股东权益CZRTXT
| Q1 26 | — | — | ||
| Q4 25 | $3.5B | — | ||
| Q3 25 | $3.8B | $7.5B | ||
| Q2 25 | $3.9B | $7.4B | ||
| Q1 25 | $4.1B | $7.3B | ||
| Q4 24 | $4.2B | $7.2B | ||
| Q3 24 | $4.2B | $7.0B | ||
| Q2 24 | $4.3B | $6.9B |
总资产CZRTXT
| Q1 26 | — | — | ||
| Q4 25 | $31.6B | — | ||
| Q3 25 | $31.9B | $17.4B | ||
| Q2 25 | $32.5B | $17.1B | ||
| Q1 25 | $32.4B | $16.9B | ||
| Q4 24 | $32.6B | $16.8B | ||
| Q3 24 | $33.0B | $16.5B | ||
| Q2 24 | $33.1B | $16.4B |
负债/权益比CZRTXT
| Q1 26 | — | — | ||
| Q4 25 | 3.40× | — | ||
| Q3 25 | 3.15× | — | ||
| Q2 25 | 3.15× | — | ||
| Q1 25 | 3.04× | — | ||
| Q4 24 | 2.96× | — | ||
| Q3 24 | 3.04× | — | ||
| Q2 24 | 2.89× | — |
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 | — | $700.0M |
| 自由现金流经营现金流 - 资本支出 | — | $527.0M |
| 自由现金流率自由现金流/营收 | — | 12.6% |
| 资本支出强度资本支出/营收 | — | 4.1% |
| 现金转化率经营现金流/净利润 | — | 2.98× |
| 过去12个月自由现金流最近4个季度 | — | $929.0M |
8季度趋势，按日历期对齐
经营现金流CZRTXT
| Q1 26 | — | — | ||
| Q4 25 | $304.0M | $700.0M | ||
| Q3 25 | $318.0M | $349.0M | ||
| Q2 25 | $462.0M | $387.0M | ||
| Q1 25 | $218.0M | $-124.0M | ||
| Q4 24 | $309.0M | $446.0M | ||
| Q3 24 | $232.0M | $208.0M | ||
| Q2 24 | $454.0M | $367.0M |
自由现金流CZRTXT
| Q1 26 | — | — | ||
| Q4 25 | $147.0M | $527.0M | ||
| Q3 25 | $123.0M | $273.0M | ||
| Q2 25 | $232.0M | $309.0M | ||
| Q1 25 | $-5.0M | $-180.0M | ||
| Q4 24 | $30.0M | $293.0M | ||
| Q3 24 | $-192.0M | $137.0M | ||
| Q2 24 | $125.0M | $293.0M |
自由现金流率CZRTXT
| Q1 26 | — | — | ||
| Q4 25 | 5.0% | 12.6% | ||
| Q3 25 | 4.3% | 7.6% | ||
| Q2 25 | 8.0% | 8.3% | ||
| Q1 25 | -0.2% | -5.4% | ||
| Q4 24 | 1.1% | 8.1% | ||
| Q3 24 | -6.7% | 4.0% | ||
| Q2 24 | 4.4% | 8.3% |
资本支出强度CZRTXT
| Q1 26 | — | — | ||
| Q4 25 | 5.4% | 4.1% | ||
| Q3 25 | 6.8% | 2.1% | ||
| Q2 25 | 7.9% | 2.1% | ||
| Q1 25 | 8.0% | 1.7% | ||
| Q4 24 | 10.0% | 4.2% | ||
| Q3 24 | 14.8% | 2.1% | ||
| Q2 24 | 11.6% | 2.1% |
现金转化率CZRTXT
| Q1 26 | — | — | ||
| Q4 25 | — | 2.98× | ||
| Q3 25 | — | 1.49× | ||
| Q2 25 | — | 1.58× | ||
| Q1 25 | — | -0.60× | ||
| Q4 24 | 28.09× | 3.16× | ||
| Q3 24 | — | 0.93× | ||
| Q2 24 | — | 1.42× |
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
CZR
| Casino | $1.7B | 58% |
| Hotel | $487.0M | 17% |
| Food and beverage | $424.0M | 15% |
| Other | $293.0M | 10% |
TXT
| Aircraft | $1.2B | 29% |
| Military Aircraft And Support Programs | $655.0M | 16% |
| Aftermarket Parts And Services | $551.0M | 13% |
| Services | $507.0M | 12% |
| Fuel Systems And Functional Components | $480.0M | 11% |
| Textron Systems | $323.0M | 8% |
| Other | $317.0M | 8% |
| US Government | $119.0M | 3% |
| Finance | $18.0M | 0% |
| Textron E Aviation Segment | $7.0M | 0% |
