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帕卡（PCAR）与美国合众银行（USB）财务数据对比。点击上方公司名可切换其他公司
美国合众银行的季度营收约是帕卡的1.1倍（$7.4B vs $6.8B），美国合众银行净利率更高（27.8% vs 8.2%，领先19.6%），美国合众银行同比增速更快（5.1% vs -13.7%），过去两年美国合众银行的营收复合增速更高（4.7% vs -11.7%）
帕卡是美国知名重型卡车制造企业，总部位于华盛顿州贝尔维尤，旗下拥有肯沃斯、彼得比尔特、DAF卡车三大核心子品牌，同时布局金融服务、工业零部件供应业务，在全球商用车领域占据重要市场地位。
美国合众银行是美国跨国银行机构，总部位于明尼苏达州明尼阿波利斯，在特拉华州注册成立。截至2025年为美国第五大银行，也是美国中西部规模最大的银行，被金融稳定委员会认定为系统重要性机构，旗下核心运营主体提供银行、投资、按揭等多元金融服务。
PCAR vs USB — 直观对比
营收规模更大
USB
是对方的1.1倍
$6.8B
营收增速更快
USB
高出18.8%
-13.7%
净利率更高
USB
高出19.6%
8.2%
两年增速更快
USB
近两年复合增速
-11.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $6.8B | $7.4B |
| 净利润 | $556.9M | $2.0B |
| 毛利率 | 19.3% | — |
| 营业利润率 | 10.3% | 34.4% |
| 净利率 | 8.2% | 27.8% |
| 营收同比 | -13.7% | 5.1% |
| 净利润同比 | -36.1% | 23.0% |
| 每股收益（稀释后） | $1.06 | $1.26 |
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PCARUSB
| Q4 25 | $6.8B | $7.4B | ||
| Q3 25 | $6.7B | $7.3B | ||
| Q2 25 | $7.5B | $7.0B | ||
| Q1 25 | $7.4B | $7.0B | ||
| Q4 24 | $7.9B | $7.0B | ||
| Q3 24 | $8.2B | $6.9B | ||
| Q2 24 | $8.8B | $6.9B | ||
| Q1 24 | $8.7B | $6.7B |
净利润PCARUSB
| Q4 25 | $556.9M | $2.0B | ||
| Q3 25 | $590.0M | $2.0B | ||
| Q2 25 | $723.8M | $1.8B | ||
| Q1 25 | $505.1M | $1.7B | ||
| Q4 24 | $872.0M | $1.7B | ||
| Q3 24 | $972.1M | $1.7B | ||
| Q2 24 | $1.1B | $1.6B | ||
| Q1 24 | $1.2B | $1.3B |
毛利率PCARUSB
| Q4 25 | 19.3% | — | ||
| Q3 25 | 19.9% | — | ||
| Q2 25 | 20.2% | — | ||
| Q1 25 | 20.8% | — | ||
| Q4 24 | 21.6% | — | ||
| Q3 24 | 22.0% | — | ||
| Q2 24 | 22.8% | — | ||
| Q1 24 | 23.7% | — |
营业利润率PCARUSB
| Q4 25 | 10.3% | 34.4% | ||
| Q3 25 | 11.1% | 34.5% | ||
| Q2 25 | 12.4% | 32.7% | ||
| Q1 25 | 8.6% | 31.0% | ||
| Q4 24 | 14.5% | 30.1% | ||
| Q3 24 | 15.2% | 30.2% | ||
| Q2 24 | 16.7% | 29.9% | ||
| Q1 24 | 17.5% | 24.9% |
净利率PCARUSB
| Q4 25 | 8.2% | 27.8% | ||
| Q3 25 | 8.8% | 27.3% | ||
| Q2 25 | 9.6% | 25.9% | ||
| Q1 25 | 6.8% | 24.6% | ||
| Q4 24 | 11.0% | 23.7% | ||
| Q3 24 | 11.8% | 25.0% | ||
| Q2 24 | 12.8% | 23.3% | ||
| Q1 24 | 13.7% | 19.6% |
每股收益（稀释后）PCARUSB
| Q4 25 | $1.06 | $1.26 | ||
| Q3 25 | $1.12 | $1.22 | ||
| Q2 25 | $1.37 | $1.11 | ||
| Q1 25 | $0.96 | $1.03 | ||
| Q4 24 | $1.65 | $1.01 | ||
| Q3 24 | $1.85 | $1.03 | ||
| Q2 24 | $2.13 | $0.97 | ||
| Q1 24 | $2.27 | $0.78 |
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 | — | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $19.3B | $65.2B |
| 总资产 | $44.3B | $692.3B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
股东权益PCARUSB
| Q4 25 | $19.3B | $65.2B | ||
| Q3 25 | $19.4B | $63.3B | ||
| Q2 25 | $18.9B | $61.4B | ||
| Q1 25 | $18.0B | $60.1B | ||
| Q4 24 | $17.5B | $58.6B | ||
| Q3 24 | $18.7B | $58.9B | ||
| Q2 24 | $17.7B | $56.4B | ||
| Q1 24 | $16.9B | $55.6B |
总资产PCARUSB
| Q4 25 | $44.3B | $692.3B | ||
| Q3 25 | $44.2B | $695.4B | ||
| Q2 25 | $44.1B | $686.4B | ||
| Q1 25 | $42.7B | $676.5B | ||
| Q4 24 | $43.4B | $678.3B | ||
| Q3 24 | $43.3B | $686.5B | ||
| Q2 24 | $41.2B | $680.1B | ||
| Q1 24 | $40.4B | $683.6B |
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 | $2.8B |
| 自由现金流经营现金流 - 资本支出 | $954.4M | — |
| 自由现金流率自由现金流/营收 | 14.0% | — |
| 资本支出强度资本支出/营收 | 2.8% | — |
| 现金转化率经营现金流/净利润 | 2.05× | 1.39× |
| 过去12个月自由现金流最近4个季度 | $3.7B | — |
8季度趋势，按日历期对齐
经营现金流PCARUSB
| Q4 25 | $1.1B | $2.8B | ||
| Q3 25 | $1.5B | $3.4B | ||
| Q2 25 | $833.4M | $2.0B | ||
| Q1 25 | $910.3M | $-285.0M | ||
| Q4 24 | $1.4B | $4.8B | ||
| Q3 24 | $1.3B | $972.0M | ||
| Q2 24 | $440.0M | $2.9B | ||
| Q1 24 | $1.5B | $2.7B |
自由现金流PCARUSB
| Q4 25 | $954.4M | — | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $611.3M | — | ||
| Q1 25 | $745.2M | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $219.7M | — | ||
| Q1 24 | $1.3B | — |
自由现金流率PCARUSB
| Q4 25 | 14.0% | — | ||
| Q3 25 | 20.4% | — | ||
| Q2 25 | 8.1% | — | ||
| Q1 25 | 10.0% | — | ||
| Q4 24 | 15.3% | — | ||
| Q3 24 | 13.3% | — | ||
| Q2 24 | 2.5% | — | ||
| Q1 24 | 14.6% | — |
资本支出强度PCARUSB
| Q4 25 | 2.8% | — | ||
| Q3 25 | 2.5% | — | ||
| Q2 25 | 3.0% | — | ||
| Q1 25 | 2.2% | — | ||
| Q4 24 | 3.0% | — | ||
| Q3 24 | 2.4% | — | ||
| Q2 24 | 2.5% | — | ||
| Q1 24 | 2.2% | — |
现金转化率PCARUSB
| Q4 25 | 2.05× | 1.39× | ||
| Q3 25 | 2.59× | 1.69× | ||
| Q2 25 | 1.15× | 1.12× | ||
| Q1 25 | 1.80× | -0.17× | ||
| Q4 24 | 1.66× | 2.87× | ||
| Q3 24 | 1.32× | 0.57× | ||
| Q2 24 | 0.39× | 1.79× | ||
| Q1 24 | 1.23× | 2.02× |
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
PCAR
| Truck Subsegment | $4.5B | 66% |
| Parts Subsegment | $1.7B | 25% |
| Other | $359.4M | 5% |
| Financial Services | $208.1M | 3% |
USB
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