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Equinix（EQIX）与RXO, Inc.（RXO）财务数据对比。点击上方公司名可切换其他公司
Equinix的季度营收约是RXO, Inc.的1.7倍（$2.4B vs $1.5B），Equinix净利率更高（0.0% vs -3.1%，领先3.1%），Equinix同比增速更快（9.0% vs -11.9%），RXO, Inc.自由现金流更多（$-9.0M vs $-596.0M），过去两年RXO, Inc.的营收复合增速更高（26.8% vs 5.4%）
Equinix是总部位于美国加利福尼亚州雷德伍德城的跨国企业，主营互联网连接服务与数据中心托管业务，旗下数据中心此前常被业内称为“运营商酒店”，2015年1月公司正式转型为房地产投资信托基金（REIT）。
RXO是总部位于美国的头部运输及物流解决方案供应商，核心业务覆盖货运经纪、大件商品最后一公里配送、运输管理服务与全链路供应链优化支持，主要服务北美制造业、零售业及电商领域的客户。
EQIX vs RXO — 直观对比
营收规模更大
EQIX
是对方的1.7倍
$1.5B
营收增速更快
EQIX
高出20.9%
-11.9%
净利率更高
EQIX
高出3.1%
-3.1%
自由现金流更多
RXO
多$587.0M
$-596.0M
两年增速更快
RXO
近两年复合增速
5.4%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.4B | $1.5B |
| 净利润 | $415.0K | $-46.0M |
| 毛利率 | 0.1% | — |
| 营业利润率 | 0.0% | -2.9% |
| 净利率 | 0.0% | -3.1% |
| 营收同比 | 9.0% | -11.9% |
| 净利润同比 | 21.0% | -84.0% |
| 每股收益（稀释后） | $0.00 | $-0.28 |
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EQIXRXO
| Q2 26 | $2.4B | — | ||
| Q1 26 | $2.4B | — | ||
| Q4 25 | $2.4B | $1.5B | ||
| Q3 25 | $2.3B | $1.4B | ||
| Q2 25 | $2.3B | $1.4B | ||
| Q1 25 | $2.2B | $1.4B | ||
| Q4 24 | $2.3B | $1.7B | ||
| Q3 24 | $2.2B | $1.0B |
净利润EQIXRXO
| Q2 26 | $415.0K | — | ||
| Q1 26 | $265.0M | — | ||
| Q4 25 | $265.0M | $-46.0M | ||
| Q3 25 | $374.0M | $-14.0M | ||
| Q2 25 | $368.0M | $-9.0M | ||
| Q1 25 | $343.0M | $-31.0M | ||
| Q4 24 | $-14.0M | $-25.0M | ||
| Q3 24 | $297.0M | $-243.0M |
毛利率EQIXRXO
| Q2 26 | 0.1% | — | ||
| Q1 26 | 50.5% | — | ||
| Q4 25 | 50.5% | — | ||
| Q3 25 | 50.7% | — | ||
| Q2 25 | 52.0% | — | ||
| Q1 25 | 51.3% | — | ||
| Q4 24 | 47.1% | — | ||
| Q3 24 | 50.1% | — |
营业利润率EQIXRXO
| Q2 26 | 0.0% | — | ||
| Q1 26 | 17.4% | — | ||
| Q4 25 | 17.4% | -2.9% | ||
| Q3 25 | 20.5% | -0.5% | ||
| Q2 25 | 21.9% | — | ||
| Q1 25 | 20.6% | -2.1% | ||
| Q4 24 | 4.6% | -1.4% | ||
| Q3 24 | 19.3% | -1.9% |
净利率EQIXRXO
| Q2 26 | 0.0% | — | ||
| Q1 26 | 11.0% | — | ||
| Q4 25 | 11.0% | -3.1% | ||
| Q3 25 | 16.1% | -1.0% | ||
| Q2 25 | 16.3% | -0.6% | ||
| Q1 25 | 15.4% | -2.2% | ||
| Q4 24 | -0.6% | -1.5% | ||
| Q3 24 | 13.5% | -23.4% |
每股收益（稀释后）EQIXRXO
| Q2 26 | $0.00 | — | ||
| Q1 26 | $2.70 | — | ||
| Q4 25 | $2.70 | $-0.28 | ||
| Q3 25 | $3.81 | $-0.08 | ||
| Q2 25 | $3.75 | $-0.05 | ||
| Q1 25 | $3.50 | $-0.18 | ||
| Q4 24 | $-0.19 | $-0.17 | ||
| Q3 24 | $3.10 | $-1.81 |
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 | $3.1B | $17.0M |
| 总债务越低越好 | — | $387.0M |
| 股东权益账面价值 | $14.3B | $1.5B |
| 总资产 | $40.9B | $3.3B |
| 负债/权益比越低杠杆越低 | — | 0.25× |
8季度趋势，按日历期对齐
现金及短期投资EQIXRXO
| Q2 26 | $3.1B | — | ||
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | $17.0M | ||
| Q3 25 | $2.9B | $25.0M | ||
| Q2 25 | $4.5B | $18.0M | ||
| Q1 25 | $3.7B | $16.0M | ||
| Q4 24 | $3.6B | $35.0M | ||
| Q3 24 | $3.2B | $55.0M |
总债务EQIXRXO
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | — | $387.0M | ||
| Q3 25 | $17.3B | $387.0M | ||
| Q2 25 | $18.1B | $387.0M | ||
| Q1 25 | $15.9B | $387.0M | ||
| Q4 24 | $15.3B | $351.0M | ||
| Q3 24 | $15.4B | $352.0M |
股东权益EQIXRXO
| Q2 26 | $14.3B | — | ||
| Q1 26 | $14.2B | — | ||
| Q4 25 | $14.2B | $1.5B | ||
| Q3 25 | $14.2B | $1.6B | ||
| Q2 25 | $14.1B | $1.6B | ||
| Q1 25 | $13.9B | $1.6B | ||
| Q4 24 | $13.5B | $1.6B | ||
| Q3 24 | $13.6B | $1.7B |
总资产EQIXRXO
| Q2 26 | $40.9B | — | ||
| Q1 26 | $40.1B | — | ||
| Q4 25 | $40.1B | $3.3B | ||
| Q3 25 | $38.1B | $3.2B | ||
| Q2 25 | $38.8B | $3.2B | ||
| Q1 25 | $36.1B | $3.3B | ||
| Q4 24 | $35.1B | $3.4B | ||
| Q3 24 | $35.4B | $3.4B |
负债/权益比EQIXRXO
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | — | 0.25× | ||
| Q3 25 | 1.22× | 0.24× | ||
| Q2 25 | 1.28× | 0.24× | ||
| Q1 25 | 1.14× | 0.24× | ||
| Q4 24 | 1.13× | 0.22× | ||
| Q3 24 | 1.13× | 0.21× |
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 | $717.0M | $7.0M |
| 自由现金流经营现金流 - 资本支出 | $-596.0M | $-9.0M |
| 自由现金流率自由现金流/营收 | -24.4% | -0.6% |
| 资本支出强度资本支出/营收 | 0.0% | 1.1% |
| 现金转化率经营现金流/净利润 | 1727.71× | — |
| 过去12个月自由现金流最近4个季度 | — | $-8.0M |
8季度趋势，按日历期对齐
经营现金流EQIXRXO
| Q2 26 | $717.0M | — | ||
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $7.0M | ||
| Q3 25 | $1.0B | $23.0M | ||
| Q2 25 | $944.0M | $23.0M | ||
| Q1 25 | $809.0M | $-2.0M | ||
| Q4 24 | $981.0M | $-7.0M | ||
| Q3 24 | $758.0M | $-7.0M |
自由现金流EQIXRXO
| Q2 26 | $-596.0M | — | ||
| Q1 26 | — | — | ||
| Q4 25 | $-292.0M | $-9.0M | ||
| Q3 25 | $-122.0M | $9.0M | ||
| Q2 25 | $-45.0M | $9.0M | ||
| Q1 25 | $59.0M | $-17.0M | ||
| Q4 24 | $-6.0M | $-19.0M | ||
| Q3 24 | $34.0M | $-18.0M |
自由现金流率EQIXRXO
| Q2 26 | -24.4% | — | ||
| Q1 26 | — | — | ||
| Q4 25 | -12.1% | -0.6% | ||
| Q3 25 | -5.3% | 0.6% | ||
| Q2 25 | -2.0% | 0.6% | ||
| Q1 25 | 2.7% | -1.2% | ||
| Q4 24 | -0.3% | -1.1% | ||
| Q3 24 | 1.5% | -1.7% |
资本支出强度EQIXRXO
| Q2 26 | 0.0% | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 59.3% | 1.1% | ||
| Q3 25 | 49.1% | 1.0% | ||
| Q2 25 | 43.8% | 1.0% | ||
| Q1 25 | 33.7% | 1.0% | ||
| Q4 24 | 43.7% | 0.7% | ||
| Q3 24 | 32.9% | 1.1% |
现金转化率EQIXRXO
| Q2 26 | 1727.71× | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 4.32× | — | ||
| Q3 25 | 2.71× | — | ||
| Q2 25 | 2.57× | — | ||
| Q1 25 | 2.36× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.55× | — |
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
EQIX
| Recurring revenues | $1.0B | 43% |
| Colocation | $731.0M | 30% |
| Other | $314.0M | 13% |
| Interconnection | $251.0M | 10% |
| Managed infrastructure | $57.0M | 2% |
| Non-recurring revenues | $45.0M | 2% |
RXO
| Retail Sector | $546.0M | 37% |
| Last Mile | $298.0M | 20% |
| Food And Beverage Sector | $225.0M | 15% |
| Other Sector | $185.0M | 13% |
| Managed Transportation | $133.0M | 9% |
| Automotive Sector | $93.0M | 6% |
