vs
Quest Resource Holding Corp（QRHC）与Waste Connections, Inc.（WCN）财务数据对比。点击上方公司名可切换其他公司
Waste Connections, Inc.的季度营收约是Quest Resource Holding Corp的40.3倍（$2.4B vs $58.9M）。Waste Connections, Inc.净利率更高（10.9% vs -2.8%，领先13.7%）。Waste Connections, Inc.同比增速更快（5.0% vs -15.8%）。Waste Connections, Inc.自由现金流更多（$172.6M vs $1.0M）。过去两年Waste Connections, Inc.的营收复合增速更高（7.0% vs -10.0%）
Quest Resource Holding Corp是北美地区的可持续发展及废弃物管理服务提供商，面向商业、工业及零售客户提供一体化废弃物回收、资源化利用解决方案，帮助企业减少废弃物排放、降低运营成本，达成既定环保目标。
Waste Connections, Inc.是北美综合废弃物服务企业，总部位于美国得克萨斯州伍德兰兹，业务范围覆盖美国与加拿大，主营固体废弃物的收集、转运、处理及回收服务，是北美第三大废弃物管理企业。
QRHC vs WCN — 直观对比
营收规模更大
WCN
是对方的40.3倍
$58.9M
营收增速更快
WCN
高出20.8%
-15.8%
净利率更高
WCN
高出13.7%
-2.8%
自由现金流更多
WCN
多$171.6M
$1.0M
两年增速更快
WCN
近两年复合增速
-10.0%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $58.9M | $2.4B |
| 净利润 | $-1.7M | $258.5M |
| 毛利率 | 15.5% | 42.5% |
| 营业利润率 | 0.9% | 17.7% |
| 净利率 | -2.8% | 10.9% |
| 营收同比 | -15.8% | 5.0% |
| 净利润同比 | 82.6% | 231.9% |
| 每股收益（稀释后） | $-0.08 | $1.01 |
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QRHCWCN
| Q4 25 | $58.9M | $2.4B | ||
| Q3 25 | $63.3M | $2.5B | ||
| Q2 25 | $59.5M | $2.4B | ||
| Q1 25 | $68.4M | $2.2B | ||
| Q4 24 | $70.0M | $2.3B | ||
| Q3 24 | $72.8M | $2.3B | ||
| Q2 24 | $73.1M | $2.2B | ||
| Q1 24 | $72.7M | $2.1B |
净利润QRHCWCN
| Q4 25 | $-1.7M | $258.5M | ||
| Q3 25 | $-1.3M | $286.3M | ||
| Q2 25 | $-2.0M | $290.3M | ||
| Q1 25 | $-10.4M | $241.5M | ||
| Q4 24 | $-9.5M | $-196.0M | ||
| Q3 24 | $-3.4M | $308.0M | ||
| Q2 24 | $-1.5M | $275.5M | ||
| Q1 24 | $-655.0K | $230.1M |
毛利率QRHCWCN
| Q4 25 | 15.5% | 42.5% | ||
| Q3 25 | 18.1% | 42.8% | ||
| Q2 25 | 18.5% | 42.1% | ||
| Q1 25 | 16.0% | 42.0% | ||
| Q4 24 | 15.3% | 41.4% | ||
| Q3 24 | 16.1% | 42.5% | ||
| Q2 24 | 18.5% | 42.1% | ||
| Q1 24 | 19.3% | 41.1% |
营业利润率QRHCWCN
| Q4 25 | 0.9% | 17.7% | ||
| Q3 25 | 1.7% | 17.9% | ||
| Q2 25 | 0.6% | 19.1% | ||
| Q1 25 | -11.9% | 17.5% | ||
| Q4 24 | -10.3% | -8.8% | ||
| Q3 24 | -1.3% | 20.3% | ||
| Q2 24 | 2.4% | 18.9% | ||
| Q1 24 | 2.6% | 17.7% |
净利率QRHCWCN
| Q4 25 | -2.8% | 10.9% | ||
| Q3 25 | -2.1% | 11.6% | ||
| Q2 25 | -3.3% | 12.1% | ||
| Q1 25 | -15.2% | 10.8% | ||
| Q4 24 | -13.6% | -8.7% | ||
| Q3 24 | -4.7% | 13.2% | ||
| Q2 24 | -2.1% | 12.3% | ||
| Q1 24 | -0.9% | 11.1% |
每股收益（稀释后）QRHCWCN
| Q4 25 | $-0.08 | $1.01 | ||
| Q3 25 | $-0.06 | $1.11 | ||
| Q2 25 | $-0.09 | $1.12 | ||
| Q1 25 | $-0.50 | $0.93 | ||
| Q4 24 | $-0.47 | $-0.76 | ||
| Q3 24 | $-0.16 | $1.19 | ||
| Q2 24 | $-0.07 | $1.07 | ||
| Q1 24 | $-0.03 | $0.89 |
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 | $1.0M | $46.0M |
| 总债务越低越好 | $64.0M | $8.8B |
| 股东权益账面价值 | $40.5M | $8.2B |
| 总资产 | $145.6M | $21.1B |
| 负债/权益比越低杠杆越低 | 1.58× | 1.07× |
8季度趋势，按日历期对齐
现金及短期投资QRHCWCN
| Q4 25 | $1.0M | $46.0M | ||
| Q3 25 | $1.1M | $117.6M | ||
| Q2 25 | $449.0K | $110.2M | ||
| Q1 25 | $1.4M | $111.2M | ||
| Q4 24 | $396.0K | $62.4M | ||
| Q3 24 | $1.1M | $115.3M | ||
| Q2 24 | $957.5K | $78.7M | ||
| Q1 24 | $581.1K | $112.0M |
总债务QRHCWCN
| Q4 25 | $64.0M | $8.8B | ||
| Q3 25 | $65.4M | $8.6B | ||
| Q2 25 | $69.7M | $8.3B | ||
| Q1 25 | $74.1M | $8.4B | ||
| Q4 24 | $76.3M | $8.1B | ||
| Q3 24 | $71.9M | $8.2B | ||
| Q2 24 | $70.7M | $7.7B | ||
| Q1 24 | $68.5M | $7.8B |
股东权益QRHCWCN
| Q4 25 | $40.5M | $8.2B | ||
| Q3 25 | $42.0M | $8.1B | ||
| Q2 25 | $42.9M | $8.4B | ||
| Q1 25 | $44.4M | $8.0B | ||
| Q4 24 | $54.2M | $7.9B | ||
| Q3 24 | $62.8M | $8.3B | ||
| Q2 24 | $65.6M | $8.0B | ||
| Q1 24 | $66.3M | $7.8B |
总资产QRHCWCN
| Q4 25 | $145.6M | $21.1B | ||
| Q3 25 | $149.3M | $20.8B | ||
| Q2 25 | $153.1M | $20.7B | ||
| Q1 25 | $165.7M | $20.3B | ||
| Q4 24 | $175.6M | $19.8B | ||
| Q3 24 | $178.2M | $20.1B | ||
| Q2 24 | $181.8M | $19.3B | ||
| Q1 24 | $179.0M | $19.1B |
负债/权益比QRHCWCN
| Q4 25 | 1.58× | 1.07× | ||
| Q3 25 | 1.56× | 1.07× | ||
| Q2 25 | 1.62× | 1.00× | ||
| Q1 25 | 1.67× | 1.05× | ||
| Q4 24 | 1.41× | 1.03× | ||
| Q3 24 | 1.15× | 0.99× | ||
| Q2 24 | 1.08× | 0.96× | ||
| Q1 24 | 1.03× | 1.00× |
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 | $1.1M | $556.9M |
| 自由现金流经营现金流 - 资本支出 | $1.0M | $172.6M |
| 自由现金流率自由现金流/营收 | 1.7% | 7.3% |
| 资本支出强度资本支出/营收 | 0.1% | 16.2% |
| 现金转化率经营现金流/净利润 | — | 2.15× |
| 过去12个月自由现金流最近4个季度 | $9.3M | $1.2B |
8季度趋势，按日历期对齐
经营现金流QRHCWCN
| Q4 25 | $1.1M | $556.9M | ||
| Q3 25 | $5.7M | $677.4M | ||
| Q2 25 | $3.9M | $638.2M | ||
| Q1 25 | $-1.1M | $541.5M | ||
| Q4 24 | $-4.8M | $568.9M | ||
| Q3 24 | $-475.0K | $558.3M | ||
| Q2 24 | $808.0K | $611.4M | ||
| Q1 24 | $-1.7M | $490.3M |
自由现金流QRHCWCN
| Q4 25 | $1.0M | $172.6M | ||
| Q3 25 | $5.6M | $380.3M | ||
| Q2 25 | $3.9M | $352.9M | ||
| Q1 25 | $-1.2M | $329.1M | ||
| Q4 24 | $-5.2M | $172.2M | ||
| Q3 24 | $-583.0K | $286.2M | ||
| Q2 24 | $-1.4M | $394.2M | ||
| Q1 24 | $-3.6M | $320.4M |
自由现金流率QRHCWCN
| Q4 25 | 1.7% | 7.3% | ||
| Q3 25 | 8.9% | 15.5% | ||
| Q2 25 | 6.5% | 14.7% | ||
| Q1 25 | -1.8% | 14.8% | ||
| Q4 24 | -7.4% | 7.6% | ||
| Q3 24 | -0.8% | 12.2% | ||
| Q2 24 | -2.0% | 17.5% | ||
| Q1 24 | -4.9% | 15.5% |
资本支出强度QRHCWCN
| Q4 25 | 0.1% | 16.2% | ||
| Q3 25 | 0.0% | 12.1% | ||
| Q2 25 | 0.0% | 11.9% | ||
| Q1 25 | 0.2% | 9.5% | ||
| Q4 24 | 0.6% | 17.6% | ||
| Q3 24 | 0.1% | 11.6% | ||
| Q2 24 | 3.1% | 9.7% | ||
| Q1 24 | 2.6% | 8.2% |
现金转化率QRHCWCN
| Q4 25 | — | 2.15× | ||
| Q3 25 | — | 2.37× | ||
| Q2 25 | — | 2.20× | ||
| Q1 25 | — | 2.24× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.81× | ||
| Q2 24 | — | 2.22× | ||
| Q1 24 | — | 2.13× |
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
QRHC
| Services | $55.8M | 95% |
| Product Sales And Other | $3.1M | 5% |
WCN
| Southern | $552.9M | 23% |
| Central | $450.9M | 19% |
| Landfill | $386.5M | 16% |
| Transfer | $370.6M | 16% |
| Other | $347.9M | 15% |
| Exploration And Production Waste Treatment Recovery And Disposal | $171.1M | 7% |
| Solid Waste Recycling | $51.2M | 2% |
| Intermodal And Other | $42.3M | 2% |
