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拉扎德（LAZ）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.的季度营收约是拉扎德的1.4倍（$1.3B vs $929.4M），拉扎德净利率更高（5.4% vs -63.1%，领先68.4%），拉扎德同比增速更快（10.8% vs -25.8%），拉扎德自由现金流更多（$396.1M vs $-1.1B），过去两年拉扎德的营收复合增速更高（8.8% vs 3.3%）
拉扎德公司是一家美国金融咨询与资产管理机构，业务覆盖投资银行、资产管理及其他金融服务，核心客户以机构客户为主。作为全球规模最大的独立投资银行，其主要行政办公室分布于纽约、巴黎及伦敦三地。
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。
LAZ vs RIVN — 直观对比
营收规模更大
RIVN
是对方的1.4倍
$929.4M
营收增速更快
LAZ
高出36.6%
-25.8%
净利率更高
LAZ
高出68.4%
-63.1%
自由现金流更多
LAZ
多$1.5B
$-1.1B
两年增速更快
LAZ
近两年复合增速
3.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $929.4M | $1.3B |
| 净利润 | $49.9M | $-811.0M |
| 毛利率 | — | 9.3% |
| 营业利润率 | 9.1% | -64.8% |
| 净利率 | 5.4% | -63.1% |
| 营收同比 | 10.8% | -25.8% |
| 净利润同比 | -42.2% | -9.0% |
| 每股收益（稀释后） | $0.44 | $-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LAZRIVN
| Q4 25 | $929.4M | $1.3B | ||
| Q3 25 | $770.8M | $1.6B | ||
| Q2 25 | $817.2M | $1.3B | ||
| Q1 25 | $669.2M | $1.2B | ||
| Q4 24 | $839.0M | $1.7B | ||
| Q3 24 | $807.4M | $874.0M | ||
| Q2 24 | $708.0M | $1.2B | ||
| Q1 24 | $785.5M | $1.2B |
净利润LAZRIVN
| Q4 25 | $49.9M | $-811.0M | ||
| Q3 25 | $71.2M | $-1.2B | ||
| Q2 25 | $55.3M | $-1.1B | ||
| Q1 25 | $60.4M | $-545.0M | ||
| Q4 24 | $86.3M | $-744.0M | ||
| Q3 24 | $107.9M | $-1.1B | ||
| Q2 24 | $49.9M | $-1.5B | ||
| Q1 24 | $35.8M | $-1.4B |
毛利率LAZRIVN
| 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LAZRIVN
| Q4 25 | 9.1% | -64.8% | ||
| Q3 25 | 12.3% | -63.1% | ||
| Q2 25 | 11.4% | -85.5% | ||
| Q1 25 | 8.2% | -52.8% | ||
| Q4 24 | 12.8% | -38.1% | ||
| Q3 24 | 20.0% | -133.8% | ||
| Q2 24 | 9.0% | -118.7% | ||
| Q1 24 | 6.9% | -123.3% |
净利率LAZRIVN
| Q4 25 | 5.4% | -63.1% | ||
| Q3 25 | 9.2% | -75.3% | ||
| Q2 25 | 6.8% | -85.7% | ||
| Q1 25 | 9.0% | -44.0% | ||
| Q4 24 | 10.3% | -42.9% | ||
| Q3 24 | 13.4% | -125.9% | ||
| Q2 24 | 7.0% | -125.8% | ||
| Q1 24 | 4.6% | -120.1% |
每股收益（稀释后）LAZRIVN
| Q4 25 | $0.44 | $-0.66 | ||
| Q3 25 | $0.65 | $-0.96 | ||
| Q2 25 | $0.52 | $-0.97 | ||
| Q1 25 | $0.56 | $-0.48 | ||
| Q4 24 | $0.82 | $-0.67 | ||
| Q3 24 | $1.02 | $-1.08 | ||
| Q2 24 | $0.49 | $-1.46 | ||
| Q1 24 | $0.35 | $-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 | $1.5B | $6.1B |
| 总债务越低越好 | $1.7B | — |
| 股东权益账面价值 | $873.7M | $4.6B |
| 总资产 | $4.9B | $14.9B |
| 负债/权益比越低杠杆越低 | 1.93× | — |
8季度趋势，按日历期对齐
现金及短期投资LAZRIVN
| Q4 25 | $1.5B | $6.1B | ||
| Q3 25 | $1.2B | $7.1B | ||
| Q2 25 | $978.3M | $7.5B | ||
| Q1 25 | $908.6M | $7.2B | ||
| Q4 24 | $1.3B | $7.7B | ||
| Q3 24 | $1.2B | $6.7B | ||
| Q2 24 | $847.6M | $7.9B | ||
| Q1 24 | $923.2M | $7.9B |
总债务LAZRIVN
| Q4 25 | $1.7B | — | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | $1.9B | — | ||
| Q2 24 | $1.9B | $5.5B | ||
| Q1 24 | $1.9B | $4.4B |
股东权益LAZRIVN
| Q4 25 | $873.7M | $4.6B | ||
| Q3 25 | $841.5M | $5.1B | ||
| Q2 25 | $741.6M | $6.1B | ||
| Q1 25 | $603.0M | $6.2B | ||
| Q4 24 | $636.2M | $6.6B | ||
| Q3 24 | $624.3M | $5.9B | ||
| Q2 24 | $458.7M | $6.8B | ||
| Q1 24 | $392.7M | $8.1B |
总资产LAZRIVN
| Q4 25 | $4.9B | $14.9B | ||
| Q3 25 | $4.6B | $15.2B | ||
| Q2 25 | $4.5B | $15.6B | ||
| Q1 25 | $4.2B | $15.5B | ||
| Q4 24 | $4.8B | $15.4B | ||
| Q3 24 | $4.8B | $14.3B | ||
| Q2 24 | $4.5B | $15.4B | ||
| Q1 24 | $4.6B | $15.7B |
负债/权益比LAZRIVN
| Q4 25 | 1.93× | — | ||
| Q3 25 | 2.01× | — | ||
| Q2 25 | 2.28× | — | ||
| Q1 25 | 2.80× | — | ||
| Q4 24 | 2.65× | — | ||
| Q3 24 | 2.97× | — | ||
| Q2 24 | 4.04× | 0.81× | ||
| Q1 24 | 4.71× | 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 | $399.7M | $-681.0M |
| 自由现金流经营现金流 - 资本支出 | $396.1M | $-1.1B |
| 自由现金流率自由现金流/营收 | 42.6% | -89.0% |
| 资本支出强度资本支出/营收 | 0.4% | 36.0% |
| 现金转化率经营现金流/净利润 | 8.02× | — |
| 过去12个月自由现金流最近4个季度 | $487.4M | $-2.5B |
8季度趋势，按日历期对齐
经营现金流LAZRIVN
| Q4 25 | $399.7M | $-681.0M | ||
| Q3 25 | $287.5M | $26.0M | ||
| Q2 25 | $49.7M | $64.0M | ||
| Q1 25 | $-217.5M | $-188.0M | ||
| Q4 24 | $362.9M | $1.2B | ||
| Q3 24 | $293.7M | $-876.0M | ||
| Q2 24 | $176.2M | $-754.0M | ||
| Q1 24 | $-90.0M | $-1.3B |
自由现金流LAZRIVN
| Q4 25 | $396.1M | $-1.1B | ||
| Q3 25 | $284.6M | $-421.0M | ||
| Q2 25 | $38.0M | $-398.0M | ||
| Q1 25 | $-231.3M | $-526.0M | ||
| Q4 24 | $348.0M | $856.0M | ||
| Q3 24 | $276.2M | $-1.2B | ||
| Q2 24 | $169.8M | $-1.0B | ||
| Q1 24 | $-96.6M | $-1.5B |
自由现金流率LAZRIVN
| Q4 25 | 42.6% | -89.0% | ||
| Q3 25 | 36.9% | -27.0% | ||
| Q2 25 | 4.6% | -30.5% | ||
| Q1 25 | -34.6% | -42.4% | ||
| Q4 24 | 41.5% | 49.4% | ||
| Q3 24 | 34.2% | -131.9% | ||
| Q2 24 | 24.0% | -89.6% | ||
| Q1 24 | -12.3% | -126.5% |
资本支出强度LAZRIVN
| Q4 25 | 0.4% | 36.0% | ||
| Q3 25 | 0.4% | 28.7% | ||
| Q2 25 | 1.4% | 35.5% | ||
| Q1 25 | 2.1% | 27.3% | ||
| Q4 24 | 1.8% | 18.9% | ||
| Q3 24 | 2.2% | 31.7% | ||
| Q2 24 | 0.9% | 24.4% | ||
| Q1 24 | 0.8% | 21.1% |
现金转化率LAZRIVN
| Q4 25 | 8.02× | — | ||
| Q3 25 | 4.03× | — | ||
| Q2 25 | 0.90× | — | ||
| Q1 25 | -3.60× | — | ||
| Q4 24 | 4.20× | — | ||
| Q3 24 | 2.72× | — | ||
| Q2 24 | 3.53× | — | ||
| Q1 24 | -2.52× | — |
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
LAZ
| Financial Advisory Segment | $542.3M | 58% |
| Asset Management1 | $347.8M | 37% |
| Incentive Fees | $40.9M | 4% |
RIVN
| Automotive Segment | $839.0M | 65% |
| Software And Services Segment | $447.0M | 35% |
| Regulatory Credits | $30.0M | 2% |
