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Graham Holdings Co（GHC）与Rivian Automotive, Inc.（RIVN）财务数据对比。点击上方公司名可切换其他公司
Rivian Automotive, Inc.的季度营收约是Graham Holdings Co的1.0倍（$1.3B vs $1.3B），Graham Holdings Co净利率更高（8.7% vs -63.1%，领先71.8%），Graham Holdings Co同比增速更快（0.4% vs -25.8%），Graham Holdings Co自由现金流更多（$5.0M vs $-1.1B），过去两年Graham Holdings Co的营收复合增速更高（4.2% vs 3.3%）
Graham Holdings是一家总部位于美国弗吉尼亚州阿灵顿县、在特拉华州注册的多元化综合控股集团，曾持有知名媒体《华盛顿邮报》与《新闻周刊》的所有权，旗下业务覆盖多个领域，在北美市场拥有深厚的行业运营积淀。
Rivian Automotive是2009年成立的美国电动汽车制造商及汽车科技企业，主打基于自研滑板平台打造的电动SUV、皮卡及EDV电动配送货车，旗下R1T皮卡于2021年末正式开启交付，还计划于2023年底前在美国和加拿大布局专属充电网络，其平台可适配新车型也可对外授权使用。
GHC vs RIVN — 直观对比
营收规模更大
RIVN
是对方的1.0倍
$1.3B
营收增速更快
GHC
高出26.3%
-25.8%
净利率更高
GHC
高出71.8%
-63.1%
自由现金流更多
GHC
多$1.1B
$-1.1B
两年增速更快
GHC
近两年复合增速
3.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.3B |
| 净利润 | $108.7M | $-811.0M |
| 毛利率 | — | 9.3% |
| 营业利润率 | 3.8% | -64.8% |
| 净利率 | 8.7% | -63.1% |
| 营收同比 | 0.4% | -25.8% |
| 净利润同比 | -80.2% | -9.0% |
| 每股收益（稀释后） | $24.76 | $-0.66 |
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GHCRIVN
| Q4 25 | $1.3B | $1.3B | ||
| Q3 25 | $1.3B | $1.6B | ||
| Q2 25 | $1.2B | $1.3B | ||
| Q1 25 | $1.2B | $1.2B | ||
| Q4 24 | $1.2B | $1.7B | ||
| Q3 24 | $1.2B | $874.0M | ||
| Q2 24 | $1.2B | $1.2B | ||
| Q1 24 | $1.2B | $1.2B |
净利润GHCRIVN
| Q4 25 | $108.7M | $-811.0M | ||
| Q3 25 | $122.9M | $-1.2B | ||
| Q2 25 | $36.7M | $-1.1B | ||
| Q1 25 | $23.9M | $-545.0M | ||
| Q4 24 | $548.8M | $-744.0M | ||
| Q3 24 | $72.5M | $-1.1B | ||
| Q2 24 | $-21.0M | $-1.5B | ||
| Q1 24 | $124.4M | $-1.4B |
毛利率GHCRIVN
| Q4 25 | — | 9.3% | ||
| Q3 25 | — | 1.5% | ||
| Q2 25 | — | -15.8% | ||
| Q1 25 | — | 16.6% | ||
| Q4 24 | — | 9.8% | ||
| Q3 24 | — | -44.9% | ||
| Q2 24 | — | -38.9% | ||
| Q1 24 | — | -43.8% |
营业利润率GHCRIVN
| Q4 25 | 3.8% | -64.8% | ||
| Q3 25 | 5.2% | -63.1% | ||
| Q2 25 | 6.0% | -85.5% | ||
| Q1 25 | 4.1% | -52.8% | ||
| Q4 24 | 5.8% | -38.1% | ||
| Q3 24 | 6.8% | -133.8% | ||
| Q2 24 | 2.2% | -118.7% | ||
| Q1 24 | 3.1% | -123.3% |
净利率GHCRIVN
| Q4 25 | 8.7% | -63.1% | ||
| Q3 25 | 9.6% | -75.3% | ||
| Q2 25 | 3.0% | -85.7% | ||
| Q1 25 | 2.0% | -44.0% | ||
| Q4 24 | 44.1% | -42.9% | ||
| Q3 24 | 6.0% | -125.9% | ||
| Q2 24 | -1.8% | -125.8% | ||
| Q1 24 | 10.8% | -120.1% |
每股收益（稀释后）GHCRIVN
| Q4 25 | $24.76 | $-0.66 | ||
| Q3 25 | $27.91 | $-0.96 | ||
| Q2 25 | $8.35 | $-0.97 | ||
| Q1 25 | $5.45 | $-0.48 | ||
| Q4 24 | $124.05 | $-0.67 | ||
| Q3 24 | $16.42 | $-1.08 | ||
| Q2 24 | $-4.79 | $-1.46 | ||
| Q1 24 | $27.72 | $-1.48 |
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 | $267.0M | $6.1B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $4.8B | $4.6B |
| 总资产 | $8.4B | $14.9B |
| 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GHCRIVN
| Q4 25 | $267.0M | $6.1B | ||
| Q3 25 | $190.8M | $7.1B | ||
| Q2 25 | $176.2M | $7.5B | ||
| Q1 25 | $156.7M | $7.2B | ||
| Q4 24 | $260.9M | $7.7B | ||
| Q3 24 | $244.4M | $6.7B | ||
| Q2 24 | $140.7M | $7.9B | ||
| Q1 24 | $130.9M | $7.9B |
总债务GHCRIVN
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $5.5B | ||
| Q1 24 | — | $4.4B |
股东权益GHCRIVN
| Q4 25 | $4.8B | $4.6B | ||
| Q3 25 | $4.5B | $5.1B | ||
| Q2 25 | $4.4B | $6.1B | ||
| Q1 25 | $4.3B | $6.2B | ||
| Q4 24 | $4.3B | $6.6B | ||
| Q3 24 | $4.0B | $5.9B | ||
| Q2 24 | $4.0B | $6.8B | ||
| Q1 24 | $4.0B | $8.1B |
总资产GHCRIVN
| Q4 25 | $8.4B | $14.9B | ||
| Q3 25 | $7.9B | $15.2B | ||
| Q2 25 | $7.6B | $15.6B | ||
| Q1 25 | $7.6B | $15.5B | ||
| Q4 24 | $7.7B | $15.4B | ||
| Q3 24 | $7.4B | $14.3B | ||
| Q2 24 | $7.2B | $15.4B | ||
| Q1 24 | $7.3B | $15.7B |
负债/权益比GHCRIVN
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.81× | ||
| Q1 24 | — | 0.55× |
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 | $28.3M | $-681.0M |
| 自由现金流经营现金流 - 资本支出 | $5.0M | $-1.1B |
| 自由现金流率自由现金流/营收 | 0.4% | -89.0% |
| 资本支出强度资本支出/营收 | 1.9% | 36.0% |
| 现金转化率经营现金流/净利润 | 0.26× | — |
| 过去12个月自由现金流最近4个季度 | $275.3M | $-2.5B |
8季度趋势，按日历期对齐
经营现金流GHCRIVN
| Q4 25 | $28.3M | $-681.0M | ||
| Q3 25 | $178.1M | $26.0M | ||
| Q2 25 | $94.8M | $64.0M | ||
| Q1 25 | $46.0M | $-188.0M | ||
| Q4 24 | $116.3M | $1.2B | ||
| Q3 24 | $237.6M | $-876.0M | ||
| Q2 24 | $52.0M | $-754.0M | ||
| Q1 24 | $1.1M | $-1.3B |
自由现金流GHCRIVN
| Q4 25 | $5.0M | $-1.1B | ||
| Q3 25 | $161.8M | $-421.0M | ||
| Q2 25 | $78.0M | $-398.0M | ||
| Q1 25 | $30.5M | $-526.0M | ||
| Q4 24 | $91.1M | $856.0M | ||
| Q3 24 | $219.4M | $-1.2B | ||
| Q2 24 | $33.7M | $-1.0B | ||
| Q1 24 | $-20.2M | $-1.5B |
自由现金流率GHCRIVN
| Q4 25 | 0.4% | -89.0% | ||
| Q3 25 | 12.6% | -27.0% | ||
| Q2 25 | 6.4% | -30.5% | ||
| Q1 25 | 2.6% | -42.4% | ||
| Q4 24 | 7.3% | 49.4% | ||
| Q3 24 | 18.2% | -131.9% | ||
| Q2 24 | 2.8% | -89.6% | ||
| Q1 24 | -1.8% | -126.5% |
资本支出强度GHCRIVN
| Q4 25 | 1.9% | 36.0% | ||
| Q3 25 | 1.3% | 28.7% | ||
| Q2 25 | 1.4% | 35.5% | ||
| Q1 25 | 1.3% | 27.3% | ||
| Q4 24 | 2.0% | 18.9% | ||
| Q3 24 | 1.5% | 31.7% | ||
| Q2 24 | 1.5% | 24.4% | ||
| Q1 24 | 1.8% | 21.1% |
现金转化率GHCRIVN
| Q4 25 | 0.26× | — | ||
| Q3 25 | 1.45× | — | ||
| Q2 25 | 2.58× | — | ||
| Q1 25 | 1.93× | — | ||
| Q4 24 | 0.21× | — | ||
| Q3 24 | 3.28× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.01× | — |
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
GHC
| Products | $602.7M | 48% |
| Kaplan International | $251.9M | 20% |
| Manufacturing | $117.8M | 9% |
| Television Broadcasting | $110.5M | 9% |
| Higher Education | $83.8M | 7% |
| Supplemental Education | $74.9M | 6% |
| Related Party | $4.4M | 0% |
RIVN
| Automotive Segment | $839.0M | 65% |
| Software And Services Segment | $447.0M | 35% |
| Regulatory Credits | $30.0M | 2% |
