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欧文斯科宁（OC）与Republic Services（RSG）财务数据对比。点击上方公司名可切换其他公司
Republic Services的季度营收约是欧文斯科宁的1.9倍（$4.1B vs $2.1B），Republic Services净利率更高（13.2% vs -13.9%，领先27.1%），Republic Services同比增速更快（2.2% vs -24.6%），Republic Services自由现金流更多（$404.0M vs $333.0M），过去两年Republic Services的营收复合增速更高（3.5% vs -3.5%）
欧文斯科宁是美国知名建材及复合材料企业，1935年由康宁玻璃厂与欧文斯-伊利诺伊公司合资组建。主营保温材料、屋面材料、玻璃纤维复合材料及相关产品，是全球最大的玻璃纤维复合材料生产商，全球员工约1.9万人，自1955年《财富》500强榜单创立以来连年上榜。
Republic Services是北美头部垃圾处理企业，业务涵盖非危险固体废物收集、转运、处置、资源回收及能源服务，是美国仅次于废物管理公司的第二大垃圾处理服务商，核心运营聚焦非危固废全流程管理、可回收物资源化利用及相关能源服务。
OC vs RSG — 直观对比
营收规模更大
RSG
是对方的1.9倍
$2.1B
营收增速更快
RSG
高出26.8%
-24.6%
净利率更高
RSG
高出27.1%
-13.9%
自由现金流更多
RSG
多$71.0M
$333.0M
两年增速更快
RSG
近两年复合增速
-3.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $4.1B |
| 净利润 | $-298.0M | $544.7M |
| 毛利率 | 23.2% | 41.9% |
| 营业利润率 | -10.5% | 19.4% |
| 净利率 | -13.9% | 13.2% |
| 营收同比 | -24.6% | 2.2% |
| 净利润同比 | -15.5% | 6.3% |
| 每股收益（稀释后） | $-3.47 | $1.76 |
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OCRSG
| Q4 25 | $2.1B | $4.1B | ||
| Q3 25 | $2.7B | $4.2B | ||
| Q2 25 | $2.7B | $4.2B | ||
| Q1 25 | $2.5B | $4.0B | ||
| Q4 24 | $2.8B | $4.0B | ||
| Q3 24 | $3.0B | $4.1B | ||
| Q2 24 | $2.8B | $4.0B | ||
| Q1 24 | $2.3B | $3.9B |
净利润OCRSG
| Q4 25 | $-298.0M | $544.7M | ||
| Q3 25 | $-494.0M | $549.7M | ||
| Q2 25 | $363.0M | $549.9M | ||
| Q1 25 | $-93.0M | $495.0M | ||
| Q4 24 | $-258.0M | $512.2M | ||
| Q3 24 | $321.0M | $565.7M | ||
| Q2 24 | $285.0M | $511.5M | ||
| Q1 24 | $299.0M | $453.8M |
毛利率OCRSG
| Q4 25 | 23.2% | 41.9% | ||
| Q3 25 | 28.2% | 41.5% | ||
| Q2 25 | 31.2% | 42.2% | ||
| Q1 25 | 28.7% | 42.3% | ||
| Q4 24 | 28.1% | 42.7% | ||
| Q3 24 | 29.8% | 41.9% | ||
| Q2 24 | 31.1% | 41.1% | ||
| Q1 24 | 29.6% | 40.9% |
营业利润率OCRSG
| Q4 25 | -10.5% | 19.4% | ||
| Q3 25 | -12.2% | 19.8% | ||
| Q2 25 | 18.4% | 20.3% | ||
| Q1 25 | 16.1% | 20.1% | ||
| Q4 24 | -8.5% | 19.9% | ||
| Q3 24 | 16.7% | 20.8% | ||
| Q2 24 | 16.4% | 20.1% | ||
| Q1 24 | 17.5% | 19.0% |
净利率OCRSG
| Q4 25 | -13.9% | 13.2% | ||
| Q3 25 | -18.4% | 13.1% | ||
| Q2 25 | 13.2% | 13.0% | ||
| Q1 25 | -3.7% | 12.3% | ||
| Q4 24 | -9.1% | 12.7% | ||
| Q3 24 | 10.5% | 13.9% | ||
| Q2 24 | 10.2% | 12.6% | ||
| Q1 24 | 13.0% | 11.8% |
每股收益（稀释后）OCRSG
| Q4 25 | $-3.47 | $1.76 | ||
| Q3 25 | $-5.92 | $1.76 | ||
| Q2 25 | $4.25 | $1.75 | ||
| Q1 25 | $-1.08 | $1.58 | ||
| Q4 24 | $-2.92 | $1.63 | ||
| Q3 24 | $3.65 | $1.80 | ||
| Q2 24 | $3.24 | $1.62 | ||
| Q1 24 | $3.40 | $1.44 |
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 | $345.0M | $76.0M |
| 总债务越低越好 | $4.7B | $13.0B |
| 股东权益账面价值 | $3.9B | $12.0B |
| 总资产 | $13.0B | $34.4B |
| 负债/权益比越低杠杆越低 | 1.22× | 1.08× |
8季度趋势，按日历期对齐
现金及短期投资OCRSG
| Q4 25 | $345.0M | $76.0M | ||
| Q3 25 | $286.0M | $84.0M | ||
| Q2 25 | $230.0M | $122.0M | ||
| Q1 25 | $400.0M | $83.0M | ||
| Q4 24 | $361.0M | $74.0M | ||
| Q3 24 | $499.0M | $83.4M | ||
| Q2 24 | $254.0M | $490.6M | ||
| Q1 24 | $1.3B | $91.6M |
总债务OCRSG
| Q4 25 | $4.7B | $13.0B | ||
| Q3 25 | $4.7B | $12.4B | ||
| Q2 25 | $5.1B | $12.5B | ||
| Q1 25 | $5.0B | $12.9B | ||
| Q4 24 | $5.1B | $11.9B | ||
| Q3 24 | $5.0B | $12.0B | ||
| Q2 24 | $5.0B | $11.5B | ||
| Q1 24 | $2.6B | $11.4B |
股东权益OCRSG
| Q4 25 | $3.9B | $12.0B | ||
| Q3 25 | $4.4B | $11.9B | ||
| Q2 25 | $5.2B | $12.1B | ||
| Q1 25 | $4.9B | $11.7B | ||
| Q4 24 | $5.1B | $11.4B | ||
| Q3 24 | $5.6B | $11.2B | ||
| Q2 24 | $5.5B | $11.0B | ||
| Q1 24 | $5.2B | $10.8B |
总资产OCRSG
| Q4 25 | $13.0B | $34.4B | ||
| Q3 25 | $13.5B | $33.8B | ||
| Q2 25 | $14.5B | $33.4B | ||
| Q1 25 | $14.3B | $33.1B | ||
| Q4 24 | $14.1B | $32.4B | ||
| Q3 24 | $15.1B | $31.8B | ||
| Q2 24 | $15.0B | $31.9B | ||
| Q1 24 | $11.3B | $31.4B |
负债/权益比OCRSG
| Q4 25 | 1.22× | 1.08× | ||
| Q3 25 | 1.06× | 1.04× | ||
| Q2 25 | 0.98× | 1.04× | ||
| Q1 25 | 1.03× | 1.10× | ||
| Q4 24 | 1.01× | 1.04× | ||
| Q3 24 | 0.89× | 1.07× | ||
| Q2 24 | 0.92× | 1.05× | ||
| Q1 24 | 0.51× | 1.05× |
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 | $590.0M | $981.0M |
| 自由现金流经营现金流 - 资本支出 | $333.0M | $404.0M |
| 自由现金流率自由现金流/营收 | 15.5% | 9.8% |
| 资本支出强度资本支出/营收 | 12.0% | 14.0% |
| 现金转化率经营现金流/净利润 | — | 1.80× |
| 过去12个月自由现金流最近4个季度 | $962.0M | $2.4B |
8季度趋势，按日历期对齐
经营现金流OCRSG
| Q4 25 | $590.0M | $981.0M | ||
| Q3 25 | $918.0M | $1.2B | ||
| Q2 25 | $327.0M | $1.1B | ||
| Q1 25 | $-49.0M | $1.0B | ||
| Q4 24 | $676.0M | $1.0B | ||
| Q3 24 | $699.0M | $1.0B | ||
| Q2 24 | $493.0M | $1.1B | ||
| Q1 24 | $24.0M | $811.5M |
自由现金流OCRSG
| Q4 25 | $333.0M | $404.0M | ||
| Q3 25 | $752.0M | $737.0M | ||
| Q2 25 | $129.0M | $702.0M | ||
| Q1 25 | $-252.0M | $566.0M | ||
| Q4 24 | $479.0M | $524.4M | ||
| Q3 24 | $558.0M | $563.6M | ||
| Q2 24 | $336.0M | $696.0M | ||
| Q1 24 | $-128.0M | $297.0M |
自由现金流率OCRSG
| Q4 25 | 15.5% | 9.8% | ||
| Q3 25 | 28.0% | 17.5% | ||
| Q2 25 | 4.7% | 16.6% | ||
| Q1 25 | -10.0% | 14.1% | ||
| Q4 24 | 16.9% | 13.0% | ||
| Q3 24 | 18.3% | 13.8% | ||
| Q2 24 | 12.0% | 17.2% | ||
| Q1 24 | -5.6% | 7.7% |
资本支出强度OCRSG
| Q4 25 | 12.0% | 14.0% | ||
| Q3 25 | 6.2% | 10.5% | ||
| Q2 25 | 7.2% | 9.6% | ||
| Q1 25 | 8.0% | 11.4% | ||
| Q4 24 | 6.9% | 12.3% | ||
| Q3 24 | 4.6% | 10.8% | ||
| Q2 24 | 5.6% | 10.0% | ||
| Q1 24 | 6.6% | 13.3% |
现金转化率OCRSG
| Q4 25 | — | 1.80× | ||
| Q3 25 | — | 2.15× | ||
| Q2 25 | 0.90× | 2.02× | ||
| Q1 25 | — | 2.07× | ||
| Q4 24 | — | 2.00× | ||
| Q3 24 | 2.18× | 1.77× | ||
| Q2 24 | 1.73× | 2.15× | ||
| Q1 24 | 0.08× | 1.79× |
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
OC
| Insulation | $724.0M | 34% |
| Residential | $625.0M | 29% |
| Doors | $427.0M | 20% |
| Discontinued Operations Disposed Of By Sale | $299.0M | 14% |
| Commercial And Industrial Sector | $101.0M | 5% |
RSG
| Other | $1.1B | 26% |
| Landfill Service Line | $780.0M | 19% |
| Collection Service Line Residential | $761.0M | 18% |
| Transfer Service Line | $458.0M | 11% |
| Environmental Solutions Service Line | $435.0M | 11% |
| Group3Segment | $423.0M | 10% |
| Other Service Line Sale Of Recycled Commodities | $104.0M | 3% |
| Other Service Line Other Noncore | $94.0M | 2% |
| Collection Service Line Other | $18.0M | 0% |
