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拉扎德（LAZ）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.的季度营收约是拉扎德的1.6倍（$1.5B vs $929.4M），拉扎德净利率更高（5.4% vs -3.1%，领先8.5%），拉扎德同比增速更快（10.8% vs -11.9%），拉扎德自由现金流更多（$396.1M vs $-9.0M），过去两年RXO, Inc.的营收复合增速更高（26.8% vs 8.8%）
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。
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。
LAZ vs RXO — 直观对比
营收规模更大
RXO
是对方的1.6倍
$929.4M
营收增速更快
LAZ
高出22.6%
-11.9%
净利率更高
LAZ
高出8.5%
-3.1%
自由现金流更多
LAZ
多$405.1M
$-9.0M
两年增速更快
RXO
近两年复合增速
8.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $929.4M | $1.5B |
| 净利润 | $49.9M | $-46.0M |
| 毛利率 | — | — |
| 营业利润率 | 9.1% | -2.9% |
| 净利率 | 5.4% | -3.1% |
| 营收同比 | 10.8% | -11.9% |
| 净利润同比 | -42.2% | -84.0% |
| 每股收益（稀释后） | $0.44 | $-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LAZRXO
| Q4 25 | $929.4M | $1.5B | ||
| Q3 25 | $770.8M | $1.4B | ||
| Q2 25 | $817.2M | $1.4B | ||
| Q1 25 | $669.2M | $1.4B | ||
| Q4 24 | $839.0M | $1.7B | ||
| Q3 24 | $807.4M | $1.0B | ||
| Q2 24 | $708.0M | $930.0M | ||
| Q1 24 | $785.5M | $913.0M |
净利润LAZRXO
| Q4 25 | $49.9M | $-46.0M | ||
| Q3 25 | $71.2M | $-14.0M | ||
| Q2 25 | $55.3M | $-9.0M | ||
| Q1 25 | $60.4M | $-31.0M | ||
| Q4 24 | $86.3M | $-25.0M | ||
| Q3 24 | $107.9M | $-243.0M | ||
| Q2 24 | $49.9M | $-7.0M | ||
| Q1 24 | $35.8M | $-15.0M |
营业利润率LAZRXO
| Q4 25 | 9.1% | -2.9% | ||
| Q3 25 | 12.3% | -0.5% | ||
| Q2 25 | 11.4% | — | ||
| Q1 25 | 8.2% | -2.1% | ||
| Q4 24 | 12.8% | -1.4% | ||
| Q3 24 | 20.0% | -1.9% | ||
| Q2 24 | 9.0% | — | ||
| Q1 24 | 6.9% | -1.3% |
净利率LAZRXO
| Q4 25 | 5.4% | -3.1% | ||
| Q3 25 | 9.2% | -1.0% | ||
| Q2 25 | 6.8% | -0.6% | ||
| Q1 25 | 9.0% | -2.2% | ||
| Q4 24 | 10.3% | -1.5% | ||
| Q3 24 | 13.4% | -23.4% | ||
| Q2 24 | 7.0% | -0.8% | ||
| Q1 24 | 4.6% | -1.6% |
每股收益（稀释后）LAZRXO
| Q4 25 | $0.44 | $-0.28 | ||
| Q3 25 | $0.65 | $-0.08 | ||
| Q2 25 | $0.52 | $-0.05 | ||
| Q1 25 | $0.56 | $-0.18 | ||
| Q4 24 | $0.82 | $-0.17 | ||
| Q3 24 | $1.02 | $-1.81 | ||
| Q2 24 | $0.49 | $-0.06 | ||
| Q1 24 | $0.35 | $-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 | $1.5B | $17.0M |
| 总债务越低越好 | $1.7B | $387.0M |
| 股东权益账面价值 | $873.7M | $1.5B |
| 总资产 | $4.9B | $3.3B |
| 负债/权益比越低杠杆越低 | 1.93× | 0.25× |
8季度趋势，按日历期对齐
现金及短期投资LAZRXO
| Q4 25 | $1.5B | $17.0M | ||
| Q3 25 | $1.2B | $25.0M | ||
| Q2 25 | $978.3M | $18.0M | ||
| Q1 25 | $908.6M | $16.0M | ||
| Q4 24 | $1.3B | $35.0M | ||
| Q3 24 | $1.2B | $55.0M | ||
| Q2 24 | $847.6M | $7.0M | ||
| Q1 24 | $923.2M | $7.0M |
总债务LAZRXO
| Q4 25 | $1.7B | $387.0M | ||
| Q3 25 | $1.7B | $387.0M | ||
| Q2 25 | $1.7B | $387.0M | ||
| Q1 25 | $1.7B | $387.0M | ||
| Q4 24 | $1.7B | $351.0M | ||
| Q3 24 | $1.9B | $352.0M | ||
| Q2 24 | $1.9B | $370.0M | ||
| Q1 24 | $1.9B | $351.0M |
股东权益LAZRXO
| Q4 25 | $873.7M | $1.5B | ||
| Q3 25 | $841.5M | $1.6B | ||
| Q2 25 | $741.6M | $1.6B | ||
| Q1 25 | $603.0M | $1.6B | ||
| Q4 24 | $636.2M | $1.6B | ||
| Q3 24 | $624.3M | $1.7B | ||
| Q2 24 | $458.7M | $579.0M | ||
| Q1 24 | $392.7M | $582.0M |
总资产LAZRXO
| Q4 25 | $4.9B | $3.3B | ||
| Q3 25 | $4.6B | $3.2B | ||
| Q2 25 | $4.5B | $3.2B | ||
| Q1 25 | $4.2B | $3.3B | ||
| Q4 24 | $4.8B | $3.4B | ||
| Q3 24 | $4.8B | $3.4B | ||
| Q2 24 | $4.5B | $1.8B | ||
| Q1 24 | $4.6B | $1.8B |
负债/权益比LAZRXO
| Q4 25 | 1.93× | 0.25× | ||
| Q3 25 | 2.01× | 0.24× | ||
| Q2 25 | 2.28× | 0.24× | ||
| Q1 25 | 2.80× | 0.24× | ||
| Q4 24 | 2.65× | 0.22× | ||
| Q3 24 | 2.97× | 0.21× | ||
| Q2 24 | 4.04× | 0.64× | ||
| Q1 24 | 4.71× | 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 | $399.7M | $7.0M |
| 自由现金流经营现金流 - 资本支出 | $396.1M | $-9.0M |
| 自由现金流率自由现金流/营收 | 42.6% | -0.6% |
| 资本支出强度资本支出/营收 | 0.4% | 1.1% |
| 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 | $-8.0M |
8季度趋势，按日历期对齐
经营现金流LAZRXO
| Q4 25 | $399.7M | $7.0M | ||
| Q3 25 | $287.5M | $23.0M | ||
| Q2 25 | $49.7M | $23.0M | ||
| Q1 25 | $-217.5M | $-2.0M | ||
| Q4 24 | $362.9M | $-7.0M | ||
| Q3 24 | $293.7M | $-7.0M | ||
| Q2 24 | $176.2M | $-5.0M | ||
| Q1 24 | $-90.0M | $7.0M |
自由现金流LAZRXO
| Q4 25 | $396.1M | $-9.0M | ||
| Q3 25 | $284.6M | $9.0M | ||
| Q2 25 | $38.0M | $9.0M | ||
| Q1 25 | $-231.3M | $-17.0M | ||
| Q4 24 | $348.0M | $-19.0M | ||
| Q3 24 | $276.2M | $-18.0M | ||
| Q2 24 | $169.8M | $-16.0M | ||
| Q1 24 | $-96.6M | $-4.0M |
自由现金流率LAZRXO
| Q4 25 | 42.6% | -0.6% | ||
| Q3 25 | 36.9% | 0.6% | ||
| Q2 25 | 4.6% | 0.6% | ||
| Q1 25 | -34.6% | -1.2% | ||
| Q4 24 | 41.5% | -1.1% | ||
| Q3 24 | 34.2% | -1.7% | ||
| Q2 24 | 24.0% | -1.7% | ||
| Q1 24 | -12.3% | -0.4% |
资本支出强度LAZRXO
| Q4 25 | 0.4% | 1.1% | ||
| Q3 25 | 0.4% | 1.0% | ||
| Q2 25 | 1.4% | 1.0% | ||
| Q1 25 | 2.1% | 1.0% | ||
| Q4 24 | 1.8% | 0.7% | ||
| Q3 24 | 2.2% | 1.1% | ||
| Q2 24 | 0.9% | 1.2% | ||
| Q1 24 | 0.8% | 1.2% |
现金转化率LAZRXO
| 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% |
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% |
