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GRAPHIC PACKAGING HOLDING CO（GPK）与RUSH ENTERPRISES INC \TX\（RUSHA）财务数据对比。点击上方公司名可切换其他公司
GRAPHIC PACKAGING HOLDING CO的季度营收约是RUSH ENTERPRISES INC \TX\的1.2倍（$2.1B vs $1.7B），RUSH ENTERPRISES INC \TX\净利率更高（3.7% vs 3.4%，领先0.3%），GRAPHIC PACKAGING HOLDING CO同比增速更快（0.2% vs -9.0%），过去两年GRAPHIC PACKAGING HOLDING CO的营收复合增速更高（-3.5% vs -6.8%）
Graphic Packaging Holding是总部位于美国佐治亚州亚特兰大的世界500强企业，专注于设计和生产商用产品包装解决方案，主营纸板及折叠纸盒业务，产品广泛应用于饮料、包装食品等各类热门消费品领域，在美国多州运营采用回收原料的纸板工厂。
Rush Enterprises是总部位于美国得克萨斯州新布朗费尔斯的商用车经销商，核心业务是通过旗下Rush Truck Centers销售全新及二手卡车。2019年该公司在全美20个州运营超200家卡车中心，在加拿大设有14个网点，2020年入选财富500强榜单。
GPK vs RUSHA — 直观对比
营收规模更大
GPK
是对方的1.2倍
$1.7B
营收增速更快
GPK
高出9.2%
-9.0%
净利率更高
RUSHA
高出0.3%
3.4%
两年增速更快
GPK
近两年复合增速
-6.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $1.7B |
| 净利润 | $71.0M | $61.7M |
| 毛利率 | 14.1% | 20.4% |
| 营业利润率 | 7.4% | 4.9% |
| 净利率 | 3.4% | 3.7% |
| 营收同比 | 0.2% | -9.0% |
| 净利润同比 | -48.6% | 1.8% |
| 每股收益（稀释后） | $0.24 | $0.77 |
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GPKRUSHA
| Q1 26 | — | $1.7B | ||
| Q4 25 | $2.1B | $1.7B | ||
| Q3 25 | $2.2B | $1.8B | ||
| Q2 25 | $2.2B | $1.8B | ||
| Q1 25 | $2.1B | $1.8B | ||
| Q4 24 | $2.1B | $1.9B | ||
| Q3 24 | $2.2B | $1.8B | ||
| Q2 24 | $2.2B | $1.9B |
净利润GPKRUSHA
| Q1 26 | — | $61.7M | ||
| Q4 25 | $71.0M | $64.3M | ||
| Q3 25 | $142.0M | $66.7M | ||
| Q2 25 | $104.0M | $72.4M | ||
| Q1 25 | $127.0M | $60.3M | ||
| Q4 24 | $138.0M | $74.8M | ||
| Q3 24 | $165.0M | $79.1M | ||
| Q2 24 | $190.0M | $78.7M |
毛利率GPKRUSHA
| Q1 26 | — | 20.4% | ||
| Q4 25 | 14.1% | 20.8% | ||
| Q3 25 | 19.6% | 21.0% | ||
| Q2 25 | 18.7% | 20.7% | ||
| Q1 25 | 20.6% | 20.3% | ||
| Q4 24 | 21.4% | 19.3% | ||
| Q3 24 | 22.3% | 21.0% | ||
| Q2 24 | 21.2% | 20.2% |
营业利润率GPKRUSHA
| Q1 26 | — | 4.9% | ||
| Q4 25 | 7.4% | 5.5% | ||
| Q3 25 | 10.7% | 5.6% | ||
| Q2 25 | 8.8% | 6.0% | ||
| Q1 25 | 10.5% | 5.2% | ||
| Q4 24 | 11.4% | 5.8% | ||
| Q3 24 | 12.6% | 6.7% | ||
| Q2 24 | 14.5% | 6.4% |
净利率GPKRUSHA
| Q1 26 | — | 3.7% | ||
| Q4 25 | 3.4% | 3.8% | ||
| Q3 25 | 6.5% | 3.7% | ||
| Q2 25 | 4.7% | 3.9% | ||
| Q1 25 | 6.0% | 3.4% | ||
| Q4 24 | 6.6% | 3.9% | ||
| Q3 24 | 7.5% | 4.4% | ||
| Q2 24 | 8.5% | 4.1% |
每股收益（稀释后）GPKRUSHA
| Q1 26 | — | $0.77 | ||
| Q4 25 | $0.24 | $0.81 | ||
| Q3 25 | $0.48 | $0.83 | ||
| Q2 25 | $0.34 | $0.90 | ||
| Q1 25 | $0.42 | $0.73 | ||
| Q4 24 | $0.46 | $-95.13 | ||
| Q3 24 | $0.55 | $0.97 | ||
| Q2 24 | $0.62 | $97.00 |
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 | $261.0M | — |
| 总债务越低越好 | $5.0B | $277.8M |
| 股东权益账面价值 | $3.3B | $2.3B |
| 总资产 | $11.8B | $4.5B |
| 负债/权益比越低杠杆越低 | 1.51× | 0.12× |
8季度趋势，按日历期对齐
现金及短期投资GPKRUSHA
| Q1 26 | — | — | ||
| Q4 25 | $261.0M | $212.6M | ||
| Q3 25 | $120.0M | $242.0M | ||
| Q2 25 | $120.0M | $211.1M | ||
| Q1 25 | $129.0M | $228.7M | ||
| Q4 24 | $157.0M | $228.1M | ||
| Q3 24 | $126.0M | $185.1M | ||
| Q2 24 | $125.0M | $167.3M |
总债务GPKRUSHA
| Q1 26 | — | $277.8M | ||
| Q4 25 | $5.0B | $274.8M | ||
| Q3 25 | $5.5B | — | ||
| Q2 25 | $5.4B | — | ||
| Q1 25 | $5.7B | — | ||
| Q4 24 | $5.1B | $408.4M | ||
| Q3 24 | $5.4B | — | ||
| Q2 24 | $4.9B | — |
股东权益GPKRUSHA
| Q1 26 | — | $2.3B | ||
| Q4 25 | $3.3B | $2.2B | ||
| Q3 25 | $3.3B | $2.2B | ||
| Q2 25 | $3.2B | $2.2B | ||
| Q1 25 | $3.2B | $2.2B | ||
| Q4 24 | $3.0B | $2.1B | ||
| Q3 24 | $3.0B | $2.1B | ||
| Q2 24 | $2.8B | $2.0B |
总资产GPKRUSHA
| Q1 26 | — | $4.5B | ||
| Q4 25 | $11.8B | $4.4B | ||
| Q3 25 | $11.9B | $4.6B | ||
| Q2 25 | $11.8B | $4.7B | ||
| Q1 25 | $11.5B | $4.7B | ||
| Q4 24 | $11.1B | $4.6B | ||
| Q3 24 | $11.2B | $4.6B | ||
| Q2 24 | $10.8B | $4.5B |
负债/权益比GPKRUSHA
| Q1 26 | — | 0.12× | ||
| Q4 25 | 1.51× | 0.12× | ||
| Q3 25 | 1.67× | — | ||
| Q2 25 | 1.68× | — | ||
| Q1 25 | 1.80× | — | ||
| Q4 24 | 1.71× | 0.19× | ||
| Q3 24 | 1.79× | — | ||
| Q2 24 | 1.75× | — |
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 | $521.0M | — |
| 自由现金流经营现金流 - 资本支出 | — | $411.6M |
| 自由现金流率自由现金流/营收 | — | 24.4% |
| 资本支出强度资本支出/营收 | — | 2.0% |
| 现金转化率经营现金流/净利润 | 7.34× | — |
| 过去12个月自由现金流最近4个季度 | — | $828.4M |
8季度趋势，按日历期对齐
经营现金流GPKRUSHA
| Q1 26 | — | — | ||
| Q4 25 | $521.0M | $112.9M | ||
| Q3 25 | $227.0M | $367.8M | ||
| Q2 25 | $267.0M | $227.6M | ||
| Q1 25 | $-174.0M | $153.5M | ||
| Q4 24 | $489.0M | $392.3M | ||
| Q3 24 | $187.0M | $111.7M | ||
| Q2 24 | $161.0M | $270.6M |
自由现金流GPKRUSHA
| Q1 26 | — | $411.6M | ||
| Q4 25 | — | $31.9M | ||
| Q3 25 | — | $271.2M | ||
| Q2 25 | — | $113.8M | ||
| Q1 25 | — | $45.1M | ||
| Q4 24 | — | $263.5M | ||
| Q3 24 | — | $-20.0M | ||
| Q2 24 | — | $177.2M |
自由现金流率GPKRUSHA
| Q1 26 | — | 24.4% | ||
| Q4 25 | — | 1.9% | ||
| Q3 25 | — | 15.2% | ||
| Q2 25 | — | 6.2% | ||
| Q1 25 | — | 2.6% | ||
| Q4 24 | — | 13.7% | ||
| Q3 24 | — | -1.1% | ||
| Q2 24 | — | 9.1% |
资本支出强度GPKRUSHA
| Q1 26 | — | 2.0% | ||
| Q4 25 | — | 4.8% | ||
| Q3 25 | — | 5.4% | ||
| Q2 25 | — | 6.2% | ||
| Q1 25 | — | 6.2% | ||
| Q4 24 | — | 6.7% | ||
| Q3 24 | — | 7.3% | ||
| Q2 24 | — | 4.8% |
现金转化率GPKRUSHA
| Q1 26 | — | — | ||
| Q4 25 | 7.34× | 1.75× | ||
| Q3 25 | 1.60× | 5.51× | ||
| Q2 25 | 2.57× | 3.14× | ||
| Q1 25 | -1.37× | 2.55× | ||
| Q4 24 | 3.54× | 5.25× | ||
| Q3 24 | 1.13× | 1.41× | ||
| Q2 24 | 0.85× | 3.44× |
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
GPK
| Americas Paperboard Packaging | $1.4B | 68% |
| Other | $667.0M | 32% |
RUSHA
| New and used commercial vehicle sales | $955.1M | 57% |
| Aftermarket products and services sales | $627.2M | 37% |
| Lease and rental sales | $92.3M | 5% |
| Finance and insurance | $5.6M | 0% |
