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是德科技（KEYS）与RXO, Inc.（RXO）财务数据对比。点击上方公司名可切换其他公司
RXO, Inc.的季度营收约是是德科技的1.0倍（$1.5B vs $1.4B），是德科技净利率更高（16.4% vs -3.1%，领先19.6%），是德科技同比增速更快（10.3% vs -11.9%），是德科技自由现金流更多（$187.0M vs $-9.0M），过去两年RXO, Inc.的营收复合增速更高（26.8% vs 6.2%）
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。
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。
KEYS vs RXO — 直观对比
营收规模更大
RXO
是对方的1.0倍
$1.4B
营收增速更快
KEYS
高出22.1%
-11.9%
净利率更高
KEYS
高出19.6%
-3.1%
自由现金流更多
KEYS
多$196.0M
$-9.0M
两年增速更快
RXO
近两年复合增速
6.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.5B |
| 净利润 | $233.0M | $-46.0M |
| 毛利率 | 61.2% | — |
| 营业利润率 | 15.3% | -2.9% |
| 净利率 | 16.4% | -3.1% |
| 营收同比 | 10.3% | -11.9% |
| 净利润同比 | 419.2% | -84.0% |
| 每股收益（稀释后） | $1.35 | $-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KEYSRXO
| Q4 25 | $1.4B | $1.5B | ||
| Q3 25 | $1.4B | $1.4B | ||
| Q2 25 | $1.3B | $1.4B | ||
| Q1 25 | $1.3B | $1.4B | ||
| Q4 24 | $1.3B | $1.7B | ||
| Q3 24 | $1.2B | $1.0B | ||
| Q2 24 | $1.2B | $930.0M | ||
| Q1 24 | $1.3B | $913.0M |
净利润KEYSRXO
| Q4 25 | $233.0M | $-46.0M | ||
| Q3 25 | $191.0M | $-14.0M | ||
| Q2 25 | $257.0M | $-9.0M | ||
| Q1 25 | $169.0M | $-31.0M | ||
| Q4 24 | $-73.0M | $-25.0M | ||
| Q3 24 | $389.0M | $-243.0M | ||
| Q2 24 | $126.0M | $-7.0M | ||
| Q1 24 | $172.0M | $-15.0M |
毛利率KEYSRXO
| Q4 25 | 61.2% | — | ||
| Q3 25 | 61.7% | — | ||
| Q2 25 | 62.3% | — | ||
| Q1 25 | 63.2% | — | ||
| Q4 24 | 62.3% | — | ||
| Q3 24 | 62.0% | — | ||
| Q2 24 | 62.7% | — | ||
| Q1 24 | 64.6% | — |
营业利润率KEYSRXO
| Q4 25 | 15.3% | -2.9% | ||
| Q3 25 | 17.3% | -0.5% | ||
| Q2 25 | 15.8% | — | ||
| Q1 25 | 16.8% | -2.1% | ||
| Q4 24 | 17.9% | -1.4% | ||
| Q3 24 | 16.8% | -1.9% | ||
| Q2 24 | 14.6% | — | ||
| Q1 24 | 17.6% | -1.3% |
净利率KEYSRXO
| Q4 25 | 16.4% | -3.1% | ||
| Q3 25 | 14.1% | -1.0% | ||
| Q2 25 | 19.7% | -0.6% | ||
| Q1 25 | 13.0% | -2.2% | ||
| Q4 24 | -5.7% | -1.5% | ||
| Q3 24 | 32.0% | -23.4% | ||
| Q2 24 | 10.4% | -0.8% | ||
| Q1 24 | 13.7% | -1.6% |
每股收益（稀释后）KEYSRXO
| Q4 25 | $1.35 | $-0.28 | ||
| Q3 25 | $1.10 | $-0.08 | ||
| Q2 25 | $1.49 | $-0.05 | ||
| Q1 25 | $0.97 | $-0.18 | ||
| Q4 24 | $-0.41 | $-0.17 | ||
| Q3 24 | $2.22 | $-1.81 | ||
| Q2 24 | $0.72 | $-0.06 | ||
| Q1 24 | $0.98 | $-0.13 |
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 | $17.0M |
| 总债务越低越好 | $2.5B | $387.0M |
| 股东权益账面价值 | $5.9B | $1.5B |
| 总资产 | $11.3B | $3.3B |
| 负债/权益比越低杠杆越低 | 0.43× | 0.25× |
8季度趋势，按日历期对齐
现金及短期投资KEYSRXO
| Q4 25 | $1.9B | $17.0M | ||
| Q3 25 | $2.6B | $25.0M | ||
| Q2 25 | $3.1B | $18.0M | ||
| Q1 25 | $2.1B | $16.0M | ||
| Q4 24 | $1.8B | $35.0M | ||
| Q3 24 | $1.6B | $55.0M | ||
| Q2 24 | $1.7B | $7.0M | ||
| Q1 24 | $1.7B | $7.0M |
总债务KEYSRXO
| Q4 25 | $2.5B | $387.0M | ||
| Q3 25 | $2.5B | $387.0M | ||
| Q2 25 | $2.5B | $387.0M | ||
| Q1 25 | $1.8B | $387.0M | ||
| Q4 24 | $1.8B | $351.0M | ||
| Q3 24 | $1.8B | $352.0M | ||
| Q2 24 | $1.8B | $370.0M | ||
| Q1 24 | $1.8B | $351.0M |
股东权益KEYSRXO
| Q4 25 | $5.9B | $1.5B | ||
| Q3 25 | $5.7B | $1.6B | ||
| Q2 25 | $5.5B | $1.6B | ||
| Q1 25 | $5.2B | $1.6B | ||
| Q4 24 | $5.1B | $1.6B | ||
| Q3 24 | $5.2B | $1.7B | ||
| Q2 24 | $4.9B | $579.0M | ||
| Q1 24 | $4.8B | $582.0M |
总资产KEYSRXO
| Q4 25 | $11.3B | $3.3B | ||
| Q3 25 | $10.7B | $3.2B | ||
| Q2 25 | $10.5B | $3.2B | ||
| Q1 25 | $9.4B | $3.3B | ||
| Q4 24 | $9.3B | $3.4B | ||
| Q3 24 | $9.3B | $3.4B | ||
| Q2 24 | $9.0B | $1.8B | ||
| Q1 24 | $9.1B | $1.8B |
负债/权益比KEYSRXO
| Q4 25 | 0.43× | 0.25× | ||
| Q3 25 | 0.45× | 0.24× | ||
| Q2 25 | 0.46× | 0.24× | ||
| Q1 25 | 0.35× | 0.24× | ||
| Q4 24 | 0.35× | 0.22× | ||
| Q3 24 | 0.34× | 0.21× | ||
| Q2 24 | 0.37× | 0.64× | ||
| Q1 24 | 0.38× | 0.60× |
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 | $7.0M |
| 自由现金流经营现金流 - 资本支出 | $187.0M | $-9.0M |
| 自由现金流率自由现金流/营收 | 13.2% | -0.6% |
| 资本支出强度资本支出/营收 | 2.7% | 1.1% |
| 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 | $-8.0M |
8季度趋势，按日历期对齐
经营现金流KEYSRXO
| Q4 25 | $225.0M | $7.0M | ||
| Q3 25 | $322.0M | $23.0M | ||
| Q2 25 | $484.0M | $23.0M | ||
| Q1 25 | $378.0M | $-2.0M | ||
| Q4 24 | $359.0M | $-7.0M | ||
| Q3 24 | $255.0M | $-7.0M | ||
| Q2 24 | $110.0M | $-5.0M | ||
| Q1 24 | $328.0M | $7.0M |
自由现金流KEYSRXO
| Q4 25 | $187.0M | $-9.0M | ||
| Q3 25 | $291.0M | $9.0M | ||
| Q2 25 | $457.0M | $9.0M | ||
| Q1 25 | $346.0M | $-17.0M | ||
| Q4 24 | $321.0M | $-19.0M | ||
| Q3 24 | $222.0M | $-18.0M | ||
| Q2 24 | $74.0M | $-16.0M | ||
| Q1 24 | $281.0M | $-4.0M |
自由现金流率KEYSRXO
| Q4 25 | 13.2% | -0.6% | ||
| Q3 25 | 21.5% | 0.6% | ||
| Q2 25 | 35.0% | 0.6% | ||
| Q1 25 | 26.7% | -1.2% | ||
| Q4 24 | 24.9% | -1.1% | ||
| Q3 24 | 18.2% | -1.7% | ||
| Q2 24 | 6.1% | -1.7% | ||
| Q1 24 | 22.3% | -0.4% |
资本支出强度KEYSRXO
| Q4 25 | 2.7% | 1.1% | ||
| Q3 25 | 2.3% | 1.0% | ||
| Q2 25 | 2.1% | 1.0% | ||
| Q1 25 | 2.5% | 1.0% | ||
| Q4 24 | 3.0% | 0.7% | ||
| Q3 24 | 2.7% | 1.1% | ||
| Q2 24 | 3.0% | 1.2% | ||
| Q1 24 | 3.7% | 1.2% |
现金转化率KEYSRXO
| Q4 25 | 0.97× | — | ||
| Q3 25 | 1.69× | — | ||
| Q2 25 | 1.88× | — | ||
| Q1 25 | 2.24× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.66× | — | ||
| Q2 24 | 0.87× | — | ||
| Q1 24 | 1.91× | — |
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% |
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% |
