vs
Norfolk Southern（NSC）与STIFEL FINANCIAL CORP（SF）财务数据对比。点击上方公司名可切换其他公司
Norfolk Southern的季度营收约是STIFEL FINANCIAL CORP的1.8倍（$3.0B vs $1.7B），Norfolk Southern净利率更高（21.7% vs 15.1%，领先6.6%），STIFEL FINANCIAL CORP同比增速更快（17.7% vs -1.7%），过去两年STIFEL FINANCIAL CORP的营收复合增速更高（44.4% vs -0.5%）
诺福克南方铁路是美国一级货运铁路运营商，总部位于亚特兰大，1982年由诺福克西部铁路与南方铁路合并组建。公司运营线路总长19420英里（约31250公里），覆盖美国东部22个州及华盛顿哥伦比亚特区，同时拥有加拿大太平洋堪萨斯城铁路奥尔巴尼至蒙特利尔线路的通行使用权。
司迪富金融是美国跨国独立投资银行及金融服务提供商，总部位于密苏里州圣路易斯市中心。其历史可追溯至1890年成立的Altheimer & Rawlings投资公司，1983年正式以Stifel为名成立，1986年11月24日在纽约证券交易所挂牌上市，为全球客户提供多元化金融服务。
NSC vs SF — 直观对比
营收规模更大
NSC
是对方的1.8倍
$1.7B
营收增速更快
SF
高出19.4%
-1.7%
净利率更高
NSC
高出6.6%
15.1%
两年增速更快
SF
近两年复合增速
-0.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.0B | $1.7B |
| 净利润 | $644.0M | $251.4M |
| 毛利率 | — | — |
| 营业利润率 | 31.5% | 30.8% |
| 净利率 | 21.7% | 15.1% |
| 营收同比 | -1.7% | 17.7% |
| 净利润同比 | -12.1% | 374.4% |
| 每股收益（稀释后） | $2.87 | $1.48 |
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NSCSF
| Q1 26 | — | $1.7B | ||
| Q4 25 | $3.0B | $1.1B | ||
| Q3 25 | $3.1B | $962.6M | ||
| Q2 25 | $3.1B | $838.9M | ||
| Q1 25 | $3.0B | $842.5M | ||
| Q4 24 | $3.0B | $916.0M | ||
| Q3 24 | $3.1B | $810.9M | ||
| Q2 24 | $3.0B | $798.9M |
净利润NSCSF
| Q1 26 | — | $251.4M | ||
| Q4 25 | $644.0M | $264.4M | ||
| Q3 25 | $711.0M | $211.4M | ||
| Q2 25 | $768.0M | $155.1M | ||
| Q1 25 | $750.0M | $53.0M | ||
| Q4 24 | $733.0M | $244.0M | ||
| Q3 24 | $1.1B | $158.5M | ||
| Q2 24 | $737.0M | $165.3M |
营业利润率NSCSF
| Q1 26 | — | 30.8% | ||
| Q4 25 | 31.5% | 27.3% | ||
| Q3 25 | 35.4% | 29.7% | ||
| Q2 25 | 37.8% | 25.5% | ||
| Q1 25 | 38.3% | 7.5% | ||
| Q4 24 | 37.4% | 29.1% | ||
| Q3 24 | 52.3% | 26.7% | ||
| Q2 24 | 37.2% | 28.4% |
净利率NSCSF
| Q1 26 | — | 15.1% | ||
| Q4 25 | 21.7% | 23.5% | ||
| Q3 25 | 22.9% | 22.0% | ||
| Q2 25 | 24.7% | 18.5% | ||
| Q1 25 | 25.1% | 6.3% | ||
| Q4 24 | 24.2% | 26.6% | ||
| Q3 24 | 36.0% | 19.5% | ||
| Q2 24 | 24.2% | 20.7% |
每股收益（稀释后）NSCSF
| Q1 26 | — | $1.48 | ||
| Q4 25 | $2.87 | $2.30 | ||
| Q3 25 | $3.16 | $1.84 | ||
| Q2 25 | $3.41 | $1.34 | ||
| Q1 25 | $3.31 | $0.39 | ||
| Q4 24 | $3.24 | $2.10 | ||
| Q3 24 | $4.85 | $1.34 | ||
| Q2 24 | $3.25 | $1.41 |
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 | $16.5B | — |
| 股东权益账面价值 | $15.5B | $332.3M |
| 总资产 | $45.2B | $42.9B |
| 负债/权益比越低杠杆越低 | 1.06× | — |
8季度趋势，按日历期对齐
现金及短期投资NSCSF
| Q1 26 | — | — | ||
| Q4 25 | $1.5B | $2.3B | ||
| Q3 25 | $1.4B | $3.2B | ||
| Q2 25 | $1.3B | $1.9B | ||
| Q1 25 | $1.0B | $2.7B | ||
| Q4 24 | $1.6B | $2.6B | ||
| Q3 24 | $975.0M | $1.9B | ||
| Q2 24 | $659.0M | $2.6B |
总债务NSCSF
| Q1 26 | — | — | ||
| Q4 25 | $16.5B | $617.4M | ||
| Q3 25 | $16.5B | $617.2M | ||
| Q2 25 | $16.5B | $617.0M | ||
| Q1 25 | $16.7B | $616.8M | ||
| Q4 24 | $16.7B | $616.6M | ||
| Q3 24 | $16.6B | $616.4M | ||
| Q2 24 | $16.9B | $1.1B |
股东权益NSCSF
| Q1 26 | — | $332.3M | ||
| Q4 25 | $15.5B | $6.0B | ||
| Q3 25 | $15.1B | $5.8B | ||
| Q2 25 | $14.8B | $5.6B | ||
| Q1 25 | $14.5B | $5.5B | ||
| Q4 24 | $14.3B | $5.7B | ||
| Q3 24 | $13.8B | $5.6B | ||
| Q2 24 | $13.0B | $5.4B |
总资产NSCSF
| Q1 26 | — | $42.9B | ||
| Q4 25 | $45.2B | $41.3B | ||
| Q3 25 | $44.6B | $41.7B | ||
| Q2 25 | $44.2B | $39.9B | ||
| Q1 25 | $43.8B | $40.4B | ||
| Q4 24 | $43.7B | $39.9B | ||
| Q3 24 | $43.3B | $38.9B | ||
| Q2 24 | $42.6B | $37.8B |
负债/权益比NSCSF
| Q1 26 | — | — | ||
| Q4 25 | 1.06× | 0.10× | ||
| Q3 25 | 1.09× | 0.11× | ||
| Q2 25 | 1.11× | 0.11× | ||
| Q1 25 | 1.15× | 0.11× | ||
| Q4 24 | 1.16× | 0.11× | ||
| Q3 24 | 1.21× | 0.11× | ||
| Q2 24 | 1.30× | 0.21× |
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 | $1.1B | — |
| 自由现金流经营现金流 - 资本支出 | $334.0M | — |
| 自由现金流率自由现金流/营收 | 11.2% | — |
| 资本支出强度资本支出/营收 | 24.5% | — |
| 现金转化率经营现金流/净利润 | 1.65× | — |
| 过去12个月自由现金流最近4个季度 | $2.2B | — |
8季度趋势，按日历期对齐
经营现金流NSCSF
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $382.4M | ||
| Q3 25 | $1.3B | $338.3M | ||
| Q2 25 | $1.1B | $607.5M | ||
| Q1 25 | $950.0M | $-211.2M | ||
| Q4 24 | $951.0M | $694.6M | ||
| Q3 24 | $1.2B | $198.3M | ||
| Q2 24 | $1.0B | $207.2M |
自由现金流NSCSF
| Q1 26 | — | — | ||
| Q4 25 | $334.0M | $369.0M | ||
| Q3 25 | $720.0M | $321.1M | ||
| Q2 25 | $602.0M | $592.7M | ||
| Q1 25 | $501.0M | $-227.8M | ||
| Q4 24 | $276.0M | $677.2M | ||
| Q3 24 | $645.0M | $185.6M | ||
| Q2 24 | $468.0M | $173.3M |
自由现金流率NSCSF
| Q1 26 | — | — | ||
| Q4 25 | 11.2% | 32.7% | ||
| Q3 25 | 23.2% | 33.4% | ||
| Q2 25 | 19.4% | 70.6% | ||
| Q1 25 | 16.7% | -27.0% | ||
| Q4 24 | 9.1% | 73.9% | ||
| Q3 24 | 21.1% | 22.9% | ||
| Q2 24 | 15.4% | 21.7% |
资本支出强度NSCSF
| Q1 26 | — | — | ||
| Q4 25 | 24.5% | 1.2% | ||
| Q3 25 | 17.8% | 1.8% | ||
| Q2 25 | 15.3% | 1.8% | ||
| Q1 25 | 15.0% | 2.0% | ||
| Q4 24 | 22.3% | 1.9% | ||
| Q3 24 | 19.0% | 1.6% | ||
| Q2 24 | 18.7% | 4.2% |
现金转化率NSCSF
| Q1 26 | — | — | ||
| Q4 25 | 1.65× | 1.45× | ||
| Q3 25 | 1.79× | 1.60× | ||
| Q2 25 | 1.40× | 3.92× | ||
| Q1 25 | 1.27× | -3.99× | ||
| Q4 24 | 1.30× | 2.85× | ||
| Q3 24 | 1.12× | 1.25× | ||
| Q2 24 | 1.41× | 1.25× |
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
NSC
| Railway Operating Revenues Market Group Merchandise | $1.9B | 63% |
| Metals And Construction | $404.0M | 14% |
| Railway Operating Revenues Market Group Coal | $347.0M | 12% |
| Automotive | $293.0M | 10% |
SF
| Other | $506.7M | 30% |
| Asset management | $459.5M | 28% |
| Investment banking | $341.4M | 20% |
| Commissions | $207.8M | 12% |
| Principal transactions | $150.2M | 9% |
