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Rivian Automotive, Inc. / DE（RIVN）与VinFast Auto Ltd.（VFS）财务数据对比。点击上方公司名可切换其他公司
Rivian Automotive, Inc. / DE的季度营收约是VinFast Auto Ltd.的1.8倍（$1.3B vs $718.6M）。VinFast Auto Ltd.净利率更高（-2.8% vs -63.1%，领先60.3%）
Rivian Automotive是2009年成立的美国电动汽车制造商及汽车科技企业，主打基于自研滑板平台打造的电动SUV、皮卡及EDV电动配送货车，旗下R1T皮卡于2021年末正式开启交付，还计划于2023年底前在美国和加拿大布局专属充电网络，其平台可适配新车型也可对外授权使用。
VinFast Auto Ltd.是越南跨国汽车企业，由越南最大私营综合企业集团之一Vingroup创立。Vingroup由越南知名企业家潘日旺创办，业务覆盖地产、零售、医疗、科技等多个领域，是越南本土头部企业集团。
RIVN vs VFS — 直观对比
营收规模更大
RIVN
是对方的1.8倍
$718.6M
净利率更高
VFS
高出60.3%
-63.1%
损益表 — Q4 2025 vs Q3 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $718.6M |
| 净利润 | $-811.0M | $-20.0M |
| 毛利率 | 9.3% | — |
| 营业利润率 | -64.8% | -96.1% |
| 净利率 | -63.1% | -2.8% |
| 营收同比 | -25.8% | — |
| 净利润同比 | -9.0% | — |
| 每股收益（稀释后） | $-0.66 | — |
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RIVNVFS
| Q4 25 | $1.3B | — | ||
| Q3 25 | $1.6B | $718.6M | ||
| Q2 25 | $1.3B | $663.0M | ||
| Q1 25 | $1.2B | $656.5M | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | $874.0M | $511.6M | ||
| Q2 24 | $1.2B | — | ||
| Q1 24 | $1.2B | $302.6M |
净利润RIVNVFS
| Q4 25 | $-811.0M | — | ||
| Q3 25 | $-1.2B | $-20.0M | ||
| Q2 25 | $-1.1B | $-51.8M | ||
| Q1 25 | $-545.0M | $-26.1M | ||
| Q4 24 | $-744.0M | — | ||
| Q3 24 | $-1.1B | $-10.4M | ||
| Q2 24 | $-1.5B | — | ||
| Q1 24 | $-1.4B | $-618.3M |
毛利率RIVNVFS
| Q4 25 | 9.3% | — | ||
| Q3 25 | 1.5% | — | ||
| Q2 25 | -15.8% | — | ||
| Q1 25 | 16.6% | — | ||
| Q4 24 | 9.8% | — | ||
| Q3 24 | -44.9% | — | ||
| Q2 24 | -38.9% | — | ||
| Q1 24 | -43.8% | — |
营业利润率RIVNVFS
| Q4 25 | -64.8% | — | ||
| Q3 25 | -63.1% | -96.1% | ||
| Q2 25 | -85.5% | -79.0% | ||
| Q1 25 | -52.8% | -74.0% | ||
| Q4 24 | -38.1% | — | ||
| Q3 24 | -133.8% | -65.9% | ||
| Q2 24 | -118.7% | — | ||
| Q1 24 | -123.3% | -139.4% |
净利率RIVNVFS
| Q4 25 | -63.1% | — | ||
| Q3 25 | -75.3% | -2.8% | ||
| Q2 25 | -85.7% | -7.8% | ||
| Q1 25 | -44.0% | -4.0% | ||
| Q4 24 | -42.9% | — | ||
| Q3 24 | -125.9% | -2.0% | ||
| Q2 24 | -125.8% | — | ||
| Q1 24 | -120.1% | -204.3% |
每股收益（稀释后）RIVNVFS
| Q4 25 | $-0.66 | — | ||
| Q3 25 | $-0.96 | — | ||
| Q2 25 | $-0.97 | — | ||
| Q1 25 | $-0.48 | — | ||
| Q4 24 | $-0.67 | — | ||
| Q3 24 | $-1.08 | — | ||
| Q2 24 | $-1.46 | — | ||
| Q1 24 | $-1.48 | — |
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 | $6.1B | $8.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $4.6B | — |
| 总资产 | $14.9B | $183.2M |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资RIVNVFS
| Q4 25 | $6.1B | — | ||
| Q3 25 | $7.1B | $8.8M | ||
| Q2 25 | $7.5B | $650.0M | ||
| Q1 25 | $7.2B | $2.4M | ||
| Q4 24 | $7.7B | — | ||
| Q3 24 | $6.7B | $1.9M | ||
| Q2 24 | $7.9B | — | ||
| Q1 24 | $7.9B | $3.0M |
总债务RIVNVFS
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $5.5B | — | ||
| Q1 24 | $4.4B | — |
股东权益RIVNVFS
| Q4 25 | $4.6B | — | ||
| Q3 25 | $5.1B | — | ||
| Q2 25 | $6.1B | $-7.2B | ||
| Q1 25 | $6.2B | — | ||
| Q4 24 | $6.6B | — | ||
| Q3 24 | $5.9B | — | ||
| Q2 24 | $6.8B | — | ||
| Q1 24 | $8.1B | — |
总资产RIVNVFS
| Q4 25 | $14.9B | — | ||
| Q3 25 | $15.2B | $183.2M | ||
| Q2 25 | $15.6B | $7.2B | ||
| Q1 25 | $15.5B | $158.2M | ||
| Q4 24 | $15.4B | — | ||
| Q3 24 | $14.3B | $151.8M | ||
| Q2 24 | $15.4B | — | ||
| Q1 24 | $15.7B | $145.6M |
负债/权益比RIVNVFS
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.81× | — | ||
| Q1 24 | 0.55× | — |
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 | $-681.0M | — |
| 自由现金流经营现金流 - 资本支出 | $-1.1B | — |
| 自由现金流率自由现金流/营收 | -89.0% | — |
| 资本支出强度资本支出/营收 | 36.0% | — |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $-2.5B | — |
8季度趋势，按日历期对齐
经营现金流RIVNVFS
| Q4 25 | $-681.0M | — | ||
| Q3 25 | $26.0M | — | ||
| Q2 25 | $64.0M | — | ||
| Q1 25 | $-188.0M | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $-876.0M | — | ||
| Q2 24 | $-754.0M | — | ||
| Q1 24 | $-1.3B | — |
自由现金流RIVNVFS
| Q4 25 | $-1.1B | — | ||
| Q3 25 | $-421.0M | — | ||
| Q2 25 | $-398.0M | — | ||
| Q1 25 | $-526.0M | — | ||
| Q4 24 | $856.0M | — | ||
| Q3 24 | $-1.2B | — | ||
| Q2 24 | $-1.0B | — | ||
| Q1 24 | $-1.5B | — |
自由现金流率RIVNVFS
| Q4 25 | -89.0% | — | ||
| Q3 25 | -27.0% | — | ||
| Q2 25 | -30.5% | — | ||
| Q1 25 | -42.4% | — | ||
| Q4 24 | 49.4% | — | ||
| Q3 24 | -131.9% | — | ||
| Q2 24 | -89.6% | — | ||
| Q1 24 | -126.5% | — |
资本支出强度RIVNVFS
| Q4 25 | 36.0% | — | ||
| Q3 25 | 28.7% | — | ||
| Q2 25 | 35.5% | — | ||
| Q1 25 | 27.3% | — | ||
| Q4 24 | 18.9% | — | ||
| Q3 24 | 31.7% | — | ||
| Q2 24 | 24.4% | — | ||
| Q1 24 | 21.1% | — |
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
RIVN
| Automotive Segment | $839.0M | 65% |
| Software And Services Segment | $447.0M | 35% |
| Regulatory Credits | $30.0M | 2% |
VFS
| Sales of vehicles | $662.9M | 92% |
| Sales of spare parts and components | $41.3M | 6% |
| Revenue from leasing activities | $12.3M | 2% |
| Finance income | $2.4M | 0% |
| Rendering of services | $1.2M | 0% |
