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拉扎德（LAZ）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\的季度营收约是拉扎德的1.8倍（$1.7B vs $929.4M），拉扎德净利率更高（5.4% vs 3.7%，领先1.7%），拉扎德同比增速更快（10.8% vs -9.0%），RUSH ENTERPRISES INC \TX\自由现金流更多（$411.6M vs $396.1M），过去两年拉扎德的营收复合增速更高（8.8% vs -6.8%）
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。
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。
LAZ vs RUSHA — 直观对比
营收规模更大
RUSHA
是对方的1.8倍
$929.4M
营收增速更快
LAZ
高出19.8%
-9.0%
净利率更高
LAZ
高出1.7%
3.7%
自由现金流更多
RUSHA
多$15.4M
$396.1M
两年增速更快
LAZ
近两年复合增速
-6.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $929.4M | $1.7B |
| 净利润 | $49.9M | $61.7M |
| 毛利率 | — | 20.4% |
| 营业利润率 | 9.1% | 4.9% |
| 净利率 | 5.4% | 3.7% |
| 营收同比 | 10.8% | -9.0% |
| 净利润同比 | -42.2% | 1.8% |
| 每股收益（稀释后） | $0.44 | $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LAZRUSHA
| Q1 26 | — | $1.7B | ||
| Q4 25 | $929.4M | $1.7B | ||
| Q3 25 | $770.8M | $1.8B | ||
| Q2 25 | $817.2M | $1.8B | ||
| Q1 25 | $669.2M | $1.8B | ||
| Q4 24 | $839.0M | $1.9B | ||
| Q3 24 | $807.4M | $1.8B | ||
| Q2 24 | $708.0M | $1.9B |
净利润LAZRUSHA
| Q1 26 | — | $61.7M | ||
| Q4 25 | $49.9M | $64.3M | ||
| Q3 25 | $71.2M | $66.7M | ||
| Q2 25 | $55.3M | $72.4M | ||
| Q1 25 | $60.4M | $60.3M | ||
| Q4 24 | $86.3M | $74.8M | ||
| Q3 24 | $107.9M | $79.1M | ||
| Q2 24 | $49.9M | $78.7M |
毛利率LAZRUSHA
| Q1 26 | — | 20.4% | ||
| Q4 25 | — | 20.8% | ||
| Q3 25 | — | 21.0% | ||
| Q2 25 | — | 20.7% | ||
| Q1 25 | — | 20.3% | ||
| Q4 24 | — | 19.3% | ||
| Q3 24 | — | 21.0% | ||
| Q2 24 | — | 20.2% |
营业利润率LAZRUSHA
| Q1 26 | — | 4.9% | ||
| Q4 25 | 9.1% | 5.5% | ||
| Q3 25 | 12.3% | 5.6% | ||
| Q2 25 | 11.4% | 6.0% | ||
| Q1 25 | 8.2% | 5.2% | ||
| Q4 24 | 12.8% | 5.8% | ||
| Q3 24 | 20.0% | 6.7% | ||
| Q2 24 | 9.0% | 6.4% |
净利率LAZRUSHA
| Q1 26 | — | 3.7% | ||
| Q4 25 | 5.4% | 3.8% | ||
| Q3 25 | 9.2% | 3.7% | ||
| Q2 25 | 6.8% | 3.9% | ||
| Q1 25 | 9.0% | 3.4% | ||
| Q4 24 | 10.3% | 3.9% | ||
| Q3 24 | 13.4% | 4.4% | ||
| Q2 24 | 7.0% | 4.1% |
每股收益（稀释后）LAZRUSHA
| Q1 26 | — | $0.77 | ||
| Q4 25 | $0.44 | $0.81 | ||
| Q3 25 | $0.65 | $0.83 | ||
| Q2 25 | $0.52 | $0.90 | ||
| Q1 25 | $0.56 | $0.73 | ||
| Q4 24 | $0.82 | $-95.13 | ||
| Q3 24 | $1.02 | $0.97 | ||
| Q2 24 | $0.49 | $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 | $1.5B | — |
| 总债务越低越好 | $1.7B | $277.8M |
| 股东权益账面价值 | $873.7M | $2.3B |
| 总资产 | $4.9B | $4.5B |
| 负债/权益比越低杠杆越低 | 1.93× | 0.12× |
8季度趋势，按日历期对齐
现金及短期投资LAZRUSHA
| Q1 26 | — | — | ||
| Q4 25 | $1.5B | $212.6M | ||
| Q3 25 | $1.2B | $242.0M | ||
| Q2 25 | $978.3M | $211.1M | ||
| Q1 25 | $908.6M | $228.7M | ||
| Q4 24 | $1.3B | $228.1M | ||
| Q3 24 | $1.2B | $185.1M | ||
| Q2 24 | $847.6M | $167.3M |
总债务LAZRUSHA
| Q1 26 | — | $277.8M | ||
| Q4 25 | $1.7B | $274.8M | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $1.7B | $408.4M | ||
| Q3 24 | $1.9B | — | ||
| Q2 24 | $1.9B | — |
股东权益LAZRUSHA
| Q1 26 | — | $2.3B | ||
| Q4 25 | $873.7M | $2.2B | ||
| Q3 25 | $841.5M | $2.2B | ||
| Q2 25 | $741.6M | $2.2B | ||
| Q1 25 | $603.0M | $2.2B | ||
| Q4 24 | $636.2M | $2.1B | ||
| Q3 24 | $624.3M | $2.1B | ||
| Q2 24 | $458.7M | $2.0B |
总资产LAZRUSHA
| Q1 26 | — | $4.5B | ||
| Q4 25 | $4.9B | $4.4B | ||
| Q3 25 | $4.6B | $4.6B | ||
| Q2 25 | $4.5B | $4.7B | ||
| Q1 25 | $4.2B | $4.7B | ||
| Q4 24 | $4.8B | $4.6B | ||
| Q3 24 | $4.8B | $4.6B | ||
| Q2 24 | $4.5B | $4.5B |
负债/权益比LAZRUSHA
| Q1 26 | — | 0.12× | ||
| Q4 25 | 1.93× | 0.12× | ||
| Q3 25 | 2.01× | — | ||
| Q2 25 | 2.28× | — | ||
| Q1 25 | 2.80× | — | ||
| Q4 24 | 2.65× | 0.19× | ||
| Q3 24 | 2.97× | — | ||
| Q2 24 | 4.04× | — |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $396.1M | $411.6M |
| 自由现金流率自由现金流/营收 | 42.6% | 24.4% |
| 资本支出强度资本支出/营收 | 0.4% | 2.0% |
| 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 | $828.4M |
8季度趋势，按日历期对齐
经营现金流LAZRUSHA
| Q1 26 | — | — | ||
| Q4 25 | $399.7M | $112.9M | ||
| Q3 25 | $287.5M | $367.8M | ||
| Q2 25 | $49.7M | $227.6M | ||
| Q1 25 | $-217.5M | $153.5M | ||
| Q4 24 | $362.9M | $392.3M | ||
| Q3 24 | $293.7M | $111.7M | ||
| Q2 24 | $176.2M | $270.6M |
自由现金流LAZRUSHA
| Q1 26 | — | $411.6M | ||
| Q4 25 | $396.1M | $31.9M | ||
| Q3 25 | $284.6M | $271.2M | ||
| Q2 25 | $38.0M | $113.8M | ||
| Q1 25 | $-231.3M | $45.1M | ||
| Q4 24 | $348.0M | $263.5M | ||
| Q3 24 | $276.2M | $-20.0M | ||
| Q2 24 | $169.8M | $177.2M |
自由现金流率LAZRUSHA
| Q1 26 | — | 24.4% | ||
| Q4 25 | 42.6% | 1.9% | ||
| Q3 25 | 36.9% | 15.2% | ||
| Q2 25 | 4.6% | 6.2% | ||
| Q1 25 | -34.6% | 2.6% | ||
| Q4 24 | 41.5% | 13.7% | ||
| Q3 24 | 34.2% | -1.1% | ||
| Q2 24 | 24.0% | 9.1% |
资本支出强度LAZRUSHA
| Q1 26 | — | 2.0% | ||
| Q4 25 | 0.4% | 4.8% | ||
| Q3 25 | 0.4% | 5.4% | ||
| Q2 25 | 1.4% | 6.2% | ||
| Q1 25 | 2.1% | 6.2% | ||
| Q4 24 | 1.8% | 6.7% | ||
| Q3 24 | 2.2% | 7.3% | ||
| Q2 24 | 0.9% | 4.8% |
现金转化率LAZRUSHA
| Q1 26 | — | — | ||
| Q4 25 | 8.02× | 1.75× | ||
| Q3 25 | 4.03× | 5.51× | ||
| Q2 25 | 0.90× | 3.14× | ||
| Q1 25 | -3.60× | 2.55× | ||
| Q4 24 | 4.20× | 5.25× | ||
| Q3 24 | 2.72× | 1.41× | ||
| Q2 24 | 3.53× | 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
LAZ
| Financial Advisory Segment | $542.3M | 58% |
| Asset Management1 | $347.8M | 37% |
| Incentive Fees | $40.9M | 4% |
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% |
