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是德科技（KEYS）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
RUSH ENTERPRISES INC \TX\的季度营收约是是德科技的1.2倍（$1.7B vs $1.4B），是德科技净利率更高（16.4% vs 3.7%，领先12.8%），是德科技同比增速更快（10.3% vs -9.0%），RUSH ENTERPRISES INC \TX\自由现金流更多（$411.6M vs $187.0M），过去两年是德科技的营收复合增速更高（6.2% vs -6.8%）
是德科技是一家美国企业，主营电子测试测量设备与软件的研发、生产业务。公司由安捷伦科技拆分而来，核心产品线继承自惠普测试测量部门上世纪60年代末至千禧年间开发的相关产品，后独立为现有品牌。
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。
KEYS vs RUSHA — 直观对比
营收规模更大
RUSHA
是对方的1.2倍
$1.4B
营收增速更快
KEYS
高出19.3%
-9.0%
净利率更高
KEYS
高出12.8%
3.7%
自由现金流更多
RUSHA
多$224.6M
$187.0M
两年增速更快
KEYS
近两年复合增速
-6.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.7B |
| 净利润 | $233.0M | $61.7M |
| 毛利率 | 61.2% | 20.4% |
| 营业利润率 | 15.3% | 4.9% |
| 净利率 | 16.4% | 3.7% |
| 营收同比 | 10.3% | -9.0% |
| 净利润同比 | 419.2% | 1.8% |
| 每股收益（稀释后） | $1.35 | $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KEYSRUSHA
| Q1 26 | — | $1.7B | ||
| Q4 25 | $1.4B | $1.7B | ||
| Q3 25 | $1.4B | $1.8B | ||
| Q2 25 | $1.3B | $1.8B | ||
| Q1 25 | $1.3B | $1.8B | ||
| Q4 24 | $1.3B | $1.9B | ||
| Q3 24 | $1.2B | $1.8B | ||
| Q2 24 | $1.2B | $1.9B |
净利润KEYSRUSHA
| Q1 26 | — | $61.7M | ||
| Q4 25 | $233.0M | $64.3M | ||
| Q3 25 | $191.0M | $66.7M | ||
| Q2 25 | $257.0M | $72.4M | ||
| Q1 25 | $169.0M | $60.3M | ||
| Q4 24 | $-73.0M | $74.8M | ||
| Q3 24 | $389.0M | $79.1M | ||
| Q2 24 | $126.0M | $78.7M |
毛利率KEYSRUSHA
| Q1 26 | — | 20.4% | ||
| Q4 25 | 61.2% | 20.8% | ||
| Q3 25 | 61.7% | 21.0% | ||
| Q2 25 | 62.3% | 20.7% | ||
| Q1 25 | 63.2% | 20.3% | ||
| Q4 24 | 62.3% | 19.3% | ||
| Q3 24 | 62.0% | 21.0% | ||
| Q2 24 | 62.7% | 20.2% |
营业利润率KEYSRUSHA
| Q1 26 | — | 4.9% | ||
| Q4 25 | 15.3% | 5.5% | ||
| Q3 25 | 17.3% | 5.6% | ||
| Q2 25 | 15.8% | 6.0% | ||
| Q1 25 | 16.8% | 5.2% | ||
| Q4 24 | 17.9% | 5.8% | ||
| Q3 24 | 16.8% | 6.7% | ||
| Q2 24 | 14.6% | 6.4% |
净利率KEYSRUSHA
| Q1 26 | — | 3.7% | ||
| Q4 25 | 16.4% | 3.8% | ||
| Q3 25 | 14.1% | 3.7% | ||
| Q2 25 | 19.7% | 3.9% | ||
| Q1 25 | 13.0% | 3.4% | ||
| Q4 24 | -5.7% | 3.9% | ||
| Q3 24 | 32.0% | 4.4% | ||
| Q2 24 | 10.4% | 4.1% |
每股收益（稀释后）KEYSRUSHA
| Q1 26 | — | $0.77 | ||
| Q4 25 | $1.35 | $0.81 | ||
| Q3 25 | $1.10 | $0.83 | ||
| Q2 25 | $1.49 | $0.90 | ||
| Q1 25 | $0.97 | $0.73 | ||
| Q4 24 | $-0.41 | $-95.13 | ||
| Q3 24 | $2.22 | $0.97 | ||
| Q2 24 | $0.72 | $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 | $1.9B | — |
| 总债务越低越好 | $2.5B | $277.8M |
| 股东权益账面价值 | $5.9B | $2.3B |
| 总资产 | $11.3B | $4.5B |
| 负债/权益比越低杠杆越低 | 0.43× | 0.12× |
8季度趋势，按日历期对齐
现金及短期投资KEYSRUSHA
| Q1 26 | — | — | ||
| Q4 25 | $1.9B | $212.6M | ||
| Q3 25 | $2.6B | $242.0M | ||
| Q2 25 | $3.1B | $211.1M | ||
| Q1 25 | $2.1B | $228.7M | ||
| Q4 24 | $1.8B | $228.1M | ||
| Q3 24 | $1.6B | $185.1M | ||
| Q2 24 | $1.7B | $167.3M |
总债务KEYSRUSHA
| Q1 26 | — | $277.8M | ||
| Q4 25 | $2.5B | $274.8M | ||
| Q3 25 | $2.5B | — | ||
| Q2 25 | $2.5B | — | ||
| Q1 25 | $1.8B | — | ||
| Q4 24 | $1.8B | $408.4M | ||
| Q3 24 | $1.8B | — | ||
| Q2 24 | $1.8B | — |
股东权益KEYSRUSHA
| Q1 26 | — | $2.3B | ||
| Q4 25 | $5.9B | $2.2B | ||
| Q3 25 | $5.7B | $2.2B | ||
| Q2 25 | $5.5B | $2.2B | ||
| Q1 25 | $5.2B | $2.2B | ||
| Q4 24 | $5.1B | $2.1B | ||
| Q3 24 | $5.2B | $2.1B | ||
| Q2 24 | $4.9B | $2.0B |
总资产KEYSRUSHA
| Q1 26 | — | $4.5B | ||
| Q4 25 | $11.3B | $4.4B | ||
| Q3 25 | $10.7B | $4.6B | ||
| Q2 25 | $10.5B | $4.7B | ||
| Q1 25 | $9.4B | $4.7B | ||
| Q4 24 | $9.3B | $4.6B | ||
| Q3 24 | $9.3B | $4.6B | ||
| Q2 24 | $9.0B | $4.5B |
负债/权益比KEYSRUSHA
| Q1 26 | — | 0.12× | ||
| Q4 25 | 0.43× | 0.12× | ||
| Q3 25 | 0.45× | — | ||
| Q2 25 | 0.46× | — | ||
| Q1 25 | 0.35× | — | ||
| Q4 24 | 0.35× | 0.19× | ||
| Q3 24 | 0.34× | — | ||
| Q2 24 | 0.37× | — |
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 | $225.0M | — |
| 自由现金流经营现金流 - 资本支出 | $187.0M | $411.6M |
| 自由现金流率自由现金流/营收 | 13.2% | 24.4% |
| 资本支出强度资本支出/营收 | 2.7% | 2.0% |
| 现金转化率经营现金流/净利润 | 0.97× | — |
| 过去12个月自由现金流最近4个季度 | $1.3B | $828.4M |
8季度趋势，按日历期对齐
经营现金流KEYSRUSHA
| Q1 26 | — | — | ||
| Q4 25 | $225.0M | $112.9M | ||
| Q3 25 | $322.0M | $367.8M | ||
| Q2 25 | $484.0M | $227.6M | ||
| Q1 25 | $378.0M | $153.5M | ||
| Q4 24 | $359.0M | $392.3M | ||
| Q3 24 | $255.0M | $111.7M | ||
| Q2 24 | $110.0M | $270.6M |
自由现金流KEYSRUSHA
| Q1 26 | — | $411.6M | ||
| Q4 25 | $187.0M | $31.9M | ||
| Q3 25 | $291.0M | $271.2M | ||
| Q2 25 | $457.0M | $113.8M | ||
| Q1 25 | $346.0M | $45.1M | ||
| Q4 24 | $321.0M | $263.5M | ||
| Q3 24 | $222.0M | $-20.0M | ||
| Q2 24 | $74.0M | $177.2M |
自由现金流率KEYSRUSHA
| Q1 26 | — | 24.4% | ||
| Q4 25 | 13.2% | 1.9% | ||
| Q3 25 | 21.5% | 15.2% | ||
| Q2 25 | 35.0% | 6.2% | ||
| Q1 25 | 26.7% | 2.6% | ||
| Q4 24 | 24.9% | 13.7% | ||
| Q3 24 | 18.2% | -1.1% | ||
| Q2 24 | 6.1% | 9.1% |
资本支出强度KEYSRUSHA
| Q1 26 | — | 2.0% | ||
| Q4 25 | 2.7% | 4.8% | ||
| Q3 25 | 2.3% | 5.4% | ||
| Q2 25 | 2.1% | 6.2% | ||
| Q1 25 | 2.5% | 6.2% | ||
| Q4 24 | 3.0% | 6.7% | ||
| Q3 24 | 2.7% | 7.3% | ||
| Q2 24 | 3.0% | 4.8% |
现金转化率KEYSRUSHA
| Q1 26 | — | — | ||
| Q4 25 | 0.97× | 1.75× | ||
| Q3 25 | 1.69× | 5.51× | ||
| Q2 25 | 1.88× | 3.14× | ||
| Q1 25 | 2.24× | 2.55× | ||
| Q4 24 | — | 5.25× | ||
| Q3 24 | 0.66× | 1.41× | ||
| Q2 24 | 0.87× | 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
KEYS
| Transferred At Point In Time | $790.0M | 56% |
| Electronicindustrial | $429.0M | 30% |
| Transferred Over Time | $200.0M | 14% |
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% |
