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利氏兄弟拍卖行（RBA）与斑马技术（ZBRA）财务数据对比。点击上方公司名可切换其他公司
斑马技术的季度营收约是利氏兄弟拍卖行的1.2倍（$1.5B vs $1.2B），利氏兄弟拍卖行净利率更高（9.1% vs 4.7%，领先4.4%），斑马技术同比增速更快（10.6% vs 5.4%），斑马技术自由现金流更多（$327.0M vs $186.5M），过去两年斑马技术的营收复合增速更高（12.0% vs 6.3%）
利氏兄弟拍卖行（股票代码RBA）是全球知名的工业资产拍卖服务商，注册地位于加拿大，属公开上市企业，总部设在美国伊利诺伊州韦斯特切斯特，普通股同时在多伦多证券交易所与纽约证券交易所挂牌交易。
斑马技术（Zebra Technologies）是源自美国的跨国科技企业，专注于智能数据采集系统领域的研发与落地。公司总部位于芝加哥郊外的伊利诺伊州林肯郡，目前在全球57个国家和地区开展业务，雇员总数达10700名。
RBA vs ZBRA — 直观对比
营收规模更大
ZBRA
是对方的1.2倍
$1.2B
营收增速更快
ZBRA
高出5.2%
5.4%
净利率更高
RBA
高出4.4%
4.7%
自由现金流更多
ZBRA
多$140.5M
$186.5M
两年增速更快
ZBRA
近两年复合增速
6.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.5B |
| 净利润 | $109.7M | $70.0M |
| 毛利率 | — | 47.3% |
| 营业利润率 | 14.7% | 9.4% |
| 净利率 | 9.1% | 4.7% |
| 营收同比 | 5.4% | 10.6% |
| 净利润同比 | -7.4% | -57.1% |
| 每股收益（稀释后） | $0.53 | $1.40 |
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RBAZBRA
| Q4 25 | $1.2B | $1.5B | ||
| Q3 25 | $1.1B | $1.3B | ||
| Q2 25 | $1.2B | $1.3B | ||
| Q1 25 | $1.1B | $1.3B | ||
| Q4 24 | $1.1B | $1.3B | ||
| Q3 24 | $981.8M | $1.3B | ||
| Q2 24 | $1.1B | $1.2B | ||
| Q1 24 | $1.1B | $1.2B |
净利润RBAZBRA
| Q4 25 | $109.7M | $70.0M | ||
| Q3 25 | $95.5M | $101.0M | ||
| Q2 25 | $109.8M | $112.0M | ||
| Q1 25 | $113.4M | $136.0M | ||
| Q4 24 | $118.5M | $163.0M | ||
| Q3 24 | $76.1M | $137.0M | ||
| Q2 24 | $111.1M | $113.0M | ||
| Q1 24 | $107.4M | $115.0M |
毛利率RBAZBRA
| Q4 25 | — | 47.3% | ||
| Q3 25 | — | 48.0% | ||
| Q2 25 | — | 47.6% | ||
| Q1 25 | — | 49.3% | ||
| Q4 24 | — | 48.6% | ||
| Q3 24 | — | 48.8% | ||
| Q2 24 | — | 48.4% | ||
| Q1 24 | — | 47.9% |
营业利润率RBAZBRA
| Q4 25 | 14.7% | 9.4% | ||
| Q3 25 | 14.5% | 13.9% | ||
| Q2 25 | 15.9% | 14.2% | ||
| Q1 25 | 17.1% | 14.9% | ||
| Q4 24 | 18.1% | 16.9% | ||
| Q3 24 | 15.6% | 15.2% | ||
| Q2 24 | 18.4% | 13.7% | ||
| Q1 24 | 18.7% | 13.5% |
净利率RBAZBRA
| Q4 25 | 9.1% | 4.7% | ||
| Q3 25 | 8.7% | 7.7% | ||
| Q2 25 | 9.3% | 8.7% | ||
| Q1 25 | 10.2% | 10.4% | ||
| Q4 24 | 10.4% | 12.2% | ||
| Q3 24 | 7.8% | 10.9% | ||
| Q2 24 | 10.1% | 9.3% | ||
| Q1 24 | 10.1% | 9.8% |
每股收益（稀释后）RBAZBRA
| Q4 25 | $0.53 | $1.40 | ||
| Q3 25 | $0.43 | $1.97 | ||
| Q2 25 | $0.53 | $2.19 | ||
| Q1 25 | $0.55 | $2.62 | ||
| Q4 24 | $0.58 | $3.14 | ||
| Q3 24 | $0.36 | $2.64 | ||
| Q2 24 | $0.54 | $2.17 | ||
| Q1 24 | $0.53 | $2.23 |
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 | $531.5M | $125.0M |
| 总债务越低越好 | $2.3B | — |
| 股东权益账面价值 | $5.6B | $3.6B |
| 总资产 | $12.1B | $8.5B |
| 负债/权益比越低杠杆越低 | 0.42× | — |
8季度趋势，按日历期对齐
现金及短期投资RBAZBRA
| Q4 25 | $531.5M | $125.0M | ||
| Q3 25 | $674.7M | $1.1B | ||
| Q2 25 | $710.2M | $872.0M | ||
| Q1 25 | $578.1M | $879.0M | ||
| Q4 24 | $533.9M | $901.0M | ||
| Q3 24 | $650.7M | $676.0M | ||
| Q2 24 | $599.5M | $411.0M | ||
| Q1 24 | $462.8M | $127.0M |
总债务RBAZBRA
| Q4 25 | $2.3B | — | ||
| Q3 25 | $2.6B | $2.2B | ||
| Q2 25 | $2.6B | $2.2B | ||
| Q1 25 | $2.6B | $2.2B | ||
| Q4 24 | $2.6B | — | ||
| Q3 24 | $2.7B | $2.2B | ||
| Q2 24 | $2.8B | $2.2B | ||
| Q1 24 | $2.9B | $2.1B |
股东权益RBAZBRA
| Q4 25 | $5.6B | $3.6B | ||
| Q3 25 | $5.5B | $3.7B | ||
| Q2 25 | $5.5B | $3.6B | ||
| Q1 25 | $5.3B | $3.6B | ||
| Q4 24 | $5.2B | $3.6B | ||
| Q3 24 | $5.2B | $3.4B | ||
| Q2 24 | $5.2B | $3.3B | ||
| Q1 24 | $5.1B | $3.2B |
总资产RBAZBRA
| Q4 25 | $12.1B | $8.5B | ||
| Q3 25 | $12.2B | $8.1B | ||
| Q2 25 | $12.2B | $7.9B | ||
| Q1 25 | $11.9B | $7.9B | ||
| Q4 24 | $11.8B | $8.0B | ||
| Q3 24 | $11.9B | $7.7B | ||
| Q2 24 | $12.1B | $7.5B | ||
| Q1 24 | $12.0B | $7.3B |
负债/权益比RBAZBRA
| Q4 25 | 0.42× | — | ||
| Q3 25 | 0.47× | 0.58× | ||
| Q2 25 | 0.47× | 0.60× | ||
| Q1 25 | 0.50× | 0.60× | ||
| Q4 24 | 0.50× | — | ||
| Q3 24 | 0.52× | 0.64× | ||
| Q2 24 | 0.55× | 0.66× | ||
| Q1 24 | 0.58× | 0.66× |
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 | $255.2M | $357.0M |
| 自由现金流经营现金流 - 资本支出 | $186.5M | $327.0M |
| 自由现金流率自由现金流/营收 | 15.5% | 22.2% |
| 资本支出强度资本支出/营收 | 5.7% | 2.0% |
| 现金转化率经营现金流/净利润 | 2.33× | 5.10× |
| 过去12个月自由现金流最近4个季度 | $719.2M | $831.0M |
8季度趋势，按日历期对齐
经营现金流RBAZBRA
| Q4 25 | $255.2M | $357.0M | ||
| Q3 25 | $239.7M | $235.0M | ||
| Q2 25 | $326.5M | $147.0M | ||
| Q1 25 | $156.8M | $178.0M | ||
| Q4 24 | $184.5M | $306.0M | ||
| Q3 24 | $285.4M | $294.0M | ||
| Q2 24 | $337.3M | $288.0M | ||
| Q1 24 | $124.8M | $125.0M |
自由现金流RBAZBRA
| Q4 25 | $186.5M | $327.0M | ||
| Q3 25 | $188.5M | $216.0M | ||
| Q2 25 | $241.7M | $130.0M | ||
| Q1 25 | $102.5M | $158.0M | ||
| Q4 24 | $127.9M | $288.0M | ||
| Q3 24 | $248.5M | $277.0M | ||
| Q2 24 | $308.6M | $278.0M | ||
| Q1 24 | $79.6M | $111.0M |
自由现金流率RBAZBRA
| Q4 25 | 15.5% | 22.2% | ||
| Q3 25 | 17.3% | 16.4% | ||
| Q2 25 | 20.4% | 10.1% | ||
| Q1 25 | 9.2% | 12.1% | ||
| Q4 24 | 11.2% | 21.6% | ||
| Q3 24 | 25.3% | 22.1% | ||
| Q2 24 | 28.2% | 22.8% | ||
| Q1 24 | 7.5% | 9.4% |
资本支出强度RBAZBRA
| Q4 25 | 5.7% | 2.0% | ||
| Q3 25 | 4.7% | 1.4% | ||
| Q2 25 | 7.2% | 1.3% | ||
| Q1 25 | 4.9% | 1.5% | ||
| Q4 24 | 5.0% | 1.3% | ||
| Q3 24 | 3.8% | 1.4% | ||
| Q2 24 | 2.6% | 0.8% | ||
| Q1 24 | 4.2% | 1.2% |
现金转化率RBAZBRA
| Q4 25 | 2.33× | 5.10× | ||
| Q3 25 | 2.51× | 2.33× | ||
| Q2 25 | 2.97× | 1.31× | ||
| Q1 25 | 1.38× | 1.31× | ||
| Q4 24 | 1.56× | 1.88× | ||
| Q3 24 | 3.75× | 2.15× | ||
| Q2 24 | 3.04× | 2.55× | ||
| Q1 24 | 1.16× | 1.09× |
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
RBA
| Buyer Revenue | $577.2M | 48% |
| Seller Revenue | $255.2M | 21% |
| CA | $199.0M | 17% |
| Other | $124.7M | 10% |
| AU | $47.3M | 4% |
ZBRA
| Tangible Products | $1.2B | 83% |
| Service And Software | $255.0M | 17% |
