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CarMax（KMX）与摩凡陀集团（MOV）财务数据对比。点击上方公司名可切换其他公司
CarMax的季度营收约是摩凡陀集团的31.1倍（$5.8B vs $186.1M）。摩凡陀集团净利率更高（5.1% vs 1.1%，领先4.1%）。摩凡陀集团同比增速更快（1.9% vs -6.9%）。CarMax自由现金流更多（$1.1B vs $11.6M）。过去两年摩凡陀集团的营收复合增速更高（2.9% vs 1.5%）
CarMax是美国知名二手车零售企业，下设两大业务板块：零售运营业务与汽车金融服务。该品牌最初是电路城公司的副业项目，1993年9月在弗吉尼亚州里士满开设首家门店，截至2025年1月在全美共运营253家线下门店。
摩凡陀集团是源自瑞士的美国奢侈钟表品牌，创始于1881年，品牌名取自世界语，原意为“律动”。摩凡陀腕表以12点钟位置标志性的金属圆点设计与极简风格著称，其中博物馆腕表更是品牌最广为人知的经典代表作。
KMX vs MOV — 直观对比
营收规模更大
KMX
是对方的31.1倍
$186.1M
营收增速更快
MOV
高出8.8%
-6.9%
净利率更高
MOV
高出4.1%
1.1%
自由现金流更多
KMX
多$1.1B
$11.6M
两年增速更快
MOV
近两年复合增速
1.5%
损益表 — Q3 2026 vs Q3 2026
| 指标 | | |
|---|---|---|
| 营收 | $5.8B | $186.1M |
| 净利润 | $62.2M | $9.6M |
| 毛利率 | 10.2% | 54.3% |
| 营业利润率 | — | 6.3% |
| 净利率 | 1.1% | 5.1% |
| 营收同比 | -6.9% | 1.9% |
| 净利润同比 | -50.4% | 89.8% |
| 每股收益（稀释后） | $0.43 | $0.42 |
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KMXMOV
| Q4 25 | $5.8B | $186.1M | ||
| Q3 25 | $6.6B | $161.8M | ||
| Q2 25 | $7.5B | $131.8M | ||
| Q1 25 | $6.0B | $181.5M | ||
| Q4 24 | $6.2B | $180.5M | ||
| Q3 24 | $7.0B | $157.0M | ||
| Q2 24 | $7.1B | $134.4M | ||
| Q1 24 | $5.6B | $175.8M |
净利润KMXMOV
| Q4 25 | $62.2M | $9.6M | ||
| Q3 25 | $95.4M | $3.0M | ||
| Q2 25 | $210.4M | $1.4M | ||
| Q1 25 | $89.9M | $8.1M | ||
| Q4 24 | $125.4M | $4.8M | ||
| Q3 24 | $132.8M | $3.5M | ||
| Q2 24 | $152.4M | $2.0M | ||
| Q1 24 | $50.3M | $9.8M |
毛利率KMXMOV
| Q4 25 | 10.2% | 54.3% | ||
| Q3 25 | 10.9% | 54.1% | ||
| Q2 25 | 11.8% | 54.1% | ||
| Q1 25 | 11.1% | 54.2% | ||
| Q4 24 | 10.9% | 53.5% | ||
| Q3 24 | 10.8% | 54.3% | ||
| Q2 24 | 11.1% | 54.3% | ||
| Q1 24 | 10.4% | 53.5% |
营业利润率KMXMOV
| Q4 25 | — | 6.3% | ||
| Q3 25 | — | 2.5% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | 2.0% | 5.1% | ||
| Q4 24 | 2.7% | 3.3% | ||
| Q3 24 | 2.5% | 1.7% | ||
| Q2 24 | 2.9% | 1.6% | ||
| Q1 24 | 1.2% | 6.1% |
净利率KMXMOV
| Q4 25 | 1.1% | 5.1% | ||
| Q3 25 | 1.4% | 1.8% | ||
| Q2 25 | 2.8% | 1.1% | ||
| Q1 25 | 1.5% | 4.4% | ||
| Q4 24 | 2.0% | 2.7% | ||
| Q3 24 | 1.9% | 2.2% | ||
| Q2 24 | 2.1% | 1.5% | ||
| Q1 24 | 0.9% | 5.6% |
每股收益（稀释后）KMXMOV
| Q4 25 | $0.43 | $0.42 | ||
| Q3 25 | $0.64 | $0.13 | ||
| Q2 25 | $1.38 | $0.06 | ||
| Q1 25 | $0.58 | $0.36 | ||
| Q4 24 | $0.81 | $0.21 | ||
| Q3 24 | $0.85 | $0.15 | ||
| Q2 24 | $0.97 | $0.09 | ||
| Q1 24 | $0.31 | $0.44 |
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 | $204.9M | $183.9M |
| 总债务越低越好 | $16.6B | — |
| 股东权益账面价值 | $6.1B | $497.5M |
| 总资产 | $25.6B | $751.9M |
| 负债/权益比越低杠杆越低 | 2.74× | — |
8季度趋势，按日历期对齐
现金及短期投资KMXMOV
| Q4 25 | $204.9M | $183.9M | ||
| Q3 25 | $540.4M | $180.5M | ||
| Q2 25 | $262.8M | $203.1M | ||
| Q1 25 | $247.0M | $208.5M | ||
| Q4 24 | $271.9M | $181.5M | ||
| Q3 24 | $524.7M | $198.3M | ||
| Q2 24 | $218.9M | $225.4M | ||
| Q1 24 | $574.1M | $262.1M |
总债务KMXMOV
| Q4 25 | $16.6B | — | ||
| Q3 25 | $17.8B | — | ||
| Q2 25 | $18.0B | — | ||
| Q1 25 | $18.1B | — | ||
| Q4 24 | $18.1B | — | ||
| Q3 24 | $18.1B | — | ||
| Q2 24 | $18.2B | — | ||
| Q1 24 | $18.0B | — |
股东权益KMXMOV
| Q4 25 | $6.1B | $497.5M | ||
| Q3 25 | $6.2B | $489.9M | ||
| Q2 25 | $6.3B | $493.2M | ||
| Q1 25 | $6.2B | $481.3M | ||
| Q4 24 | $6.2B | $491.3M | ||
| Q3 24 | $6.2B | $492.0M | ||
| Q2 24 | $6.2B | $489.6M | ||
| Q1 24 | $6.1B | $505.9M |
总资产KMXMOV
| Q4 25 | $25.6B | $751.9M | ||
| Q3 25 | $27.1B | $748.7M | ||
| Q2 25 | $27.4B | $747.2M | ||
| Q1 25 | $27.4B | $729.2M | ||
| Q4 24 | $27.3B | $747.2M | ||
| Q3 24 | $27.3B | $742.5M | ||
| Q2 24 | $27.2B | $736.0M | ||
| Q1 24 | $27.2B | $756.5M |
负债/权益比KMXMOV
| Q4 25 | 2.74× | — | ||
| Q3 25 | 2.87× | — | ||
| Q2 25 | 2.86× | — | ||
| Q1 25 | 2.91× | — | ||
| Q4 24 | 2.92× | — | ||
| Q3 24 | 2.93× | — | ||
| Q2 24 | 2.95× | — | ||
| Q1 24 | 2.96× | — |
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 | $1.3B | $12.3M |
| 自由现金流经营现金流 - 资本支出 | $1.1B | $11.6M |
| 自由现金流率自由现金流/营收 | 19.2% | 6.2% |
| 资本支出强度资本支出/营收 | 2.4% | 0.4% |
| 现金转化率经营现金流/净利润 | 20.14× | 1.28× |
| 过去12个月自由现金流最近4个季度 | $1.9B | $35.3M |
8季度趋势，按日历期对齐
经营现金流KMXMOV
| Q4 25 | $1.3B | $12.3M | ||
| Q3 25 | $785.5M | $-3.8M | ||
| Q2 25 | $299.5M | $-7.2M | ||
| Q1 25 | $146.4M | $39.1M | ||
| Q4 24 | $-23.4M | $-4.7M | ||
| Q3 24 | $619.1M | $-17.8M | ||
| Q2 24 | $-117.7M | $-18.1M | ||
| Q1 24 | $309.6M | $69.4M |
自由现金流KMXMOV
| Q4 25 | $1.1B | $11.6M | ||
| Q3 25 | $654.0M | $-5.1M | ||
| Q2 25 | $162.8M | $-8.7M | ||
| Q1 25 | $18.8M | $37.5M | ||
| Q4 24 | $-150.6M | $-7.2M | ||
| Q3 24 | $509.9M | $-20.1M | ||
| Q2 24 | $-221.6M | $-19.7M | ||
| Q1 24 | $199.8M | $67.8M |
自由现金流率KMXMOV
| Q4 25 | 19.2% | 6.2% | ||
| Q3 25 | 9.9% | -3.1% | ||
| Q2 25 | 2.2% | -6.6% | ||
| Q1 25 | 0.3% | 20.7% | ||
| Q4 24 | -2.4% | -4.0% | ||
| Q3 24 | 7.3% | -12.8% | ||
| Q2 24 | -3.1% | -14.7% | ||
| Q1 24 | 3.6% | 38.6% |
资本支出强度KMXMOV
| Q4 25 | 2.4% | 0.4% | ||
| Q3 25 | 2.0% | 0.8% | ||
| Q2 25 | 1.8% | 1.2% | ||
| Q1 25 | 2.1% | 0.9% | ||
| Q4 24 | 2.0% | 1.4% | ||
| Q3 24 | 1.6% | 1.5% | ||
| Q2 24 | 1.5% | 1.2% | ||
| Q1 24 | 2.0% | 0.9% |
现金转化率KMXMOV
| Q4 25 | 20.14× | 1.28× | ||
| Q3 25 | 8.24× | -1.27× | ||
| Q2 25 | 1.42× | -5.08× | ||
| Q1 25 | 1.63× | 4.86× | ||
| Q4 24 | -0.19× | -0.98× | ||
| Q3 24 | 4.66× | -5.14× | ||
| Q2 24 | -0.77× | -8.97× | ||
| Q1 24 | 6.16× | 7.06× |
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
KMX
| Used Vehicles | $4.5B | 78% |
| Wholesale Vehicles | $1.1B | 19% |
| Other | $150.6M | 3% |
| Extendedprotectionplan Domain | $96.6M | 2% |
| Advertising Subscription Revenues Domain | $35.1M | 1% |
| Service Domain | $18.5M | 0% |
| Thirdpartyfinancefees Domain | $3.0M | 0% |
MOV
| Other | $81.4M | 44% |
| Owned Brands Category | $46.0M | 25% |
| Sales Channel Directly To Consumer | $35.3M | 19% |
| Company Stores | $23.4M | 13% |
