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Rivian Automotive, Inc.（RIVN）与WATSCO INC（WSO）财务数据对比。点击上方公司名可切换其他公司
WATSCO INC的季度营收约是Rivian Automotive, Inc.的1.2倍（$1.6B vs $1.3B），WATSCO INC净利率更高（4.5% vs -63.1%，领先67.6%），WATSCO INC同比增速更快（-10.0% vs -25.8%），WATSCO INC自由现金流更多（$388.5M vs $-1.1B），过去两年Rivian Automotive, Inc.的营收复合增速更高（3.3% vs 0.4%）
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。
Watsco Inc.是美国暖通空调、供暖及制冷（HVAC/R）设备及相关零部件、耗材的专业分销商。公司成立至今已超60年，最初主营HVAC/R行业相关零部件、工具制造业务，1989年通过收购佛罗里达州南部的瑞姆品牌分销商Gemaire Distributors Inc，正式从制造赛道转向分销领域。
RIVN vs WSO — 直观对比
营收规模更大
WSO
是对方的1.2倍
$1.3B
营收增速更快
WSO
高出15.8%
-25.8%
净利率更高
WSO
高出67.6%
-63.1%
自由现金流更多
WSO
多$1.5B
$-1.1B
两年增速更快
RIVN
近两年复合增速
0.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.6B |
| 净利润 | $-811.0M | $71.7M |
| 毛利率 | 9.3% | 27.1% |
| 营业利润率 | -64.8% | 6.4% |
| 净利率 | -63.1% | 4.5% |
| 营收同比 | -25.8% | -10.0% |
| 净利润同比 | -9.0% | -25.9% |
| 每股收益（稀释后） | $-0.66 | $1.82 |
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RIVNWSO
| Q4 25 | $1.3B | $1.6B | ||
| Q3 25 | $1.6B | $2.1B | ||
| Q2 25 | $1.3B | $2.1B | ||
| Q1 25 | $1.2B | $1.5B | ||
| Q4 24 | $1.7B | $1.8B | ||
| Q3 24 | $874.0M | $2.2B | ||
| Q2 24 | $1.2B | $2.1B | ||
| Q1 24 | $1.2B | $1.6B |
净利润RIVNWSO
| Q4 25 | $-811.0M | $71.7M | ||
| Q3 25 | $-1.2B | $161.6M | ||
| Q2 25 | $-1.1B | $183.6M | ||
| Q1 25 | $-545.0M | $80.1M | ||
| Q4 24 | $-744.0M | $96.8M | ||
| Q3 24 | $-1.1B | $171.0M | ||
| Q2 24 | $-1.5B | $181.4M | ||
| Q1 24 | $-1.4B | $87.0M |
毛利率RIVNWSO
| Q4 25 | 9.3% | 27.1% | ||
| Q3 25 | 1.5% | 27.5% | ||
| Q2 25 | -15.8% | 29.3% | ||
| Q1 25 | 16.6% | 28.1% | ||
| Q4 24 | 9.8% | 26.7% | ||
| Q3 24 | -44.9% | 26.2% | ||
| Q2 24 | -38.9% | 27.1% | ||
| Q1 24 | -43.8% | 27.5% |
营业利润率RIVNWSO
| Q4 25 | -64.8% | 6.4% | ||
| Q3 25 | -63.1% | 11.4% | ||
| Q2 25 | -85.5% | 13.2% | ||
| Q1 25 | -52.8% | 7.3% | ||
| Q4 24 | -38.1% | 7.8% | ||
| Q3 24 | -133.8% | 11.6% | ||
| Q2 24 | -118.7% | 12.6% | ||
| Q1 24 | -123.3% | 8.1% |
净利率RIVNWSO
| Q4 25 | -63.1% | 4.5% | ||
| Q3 25 | -75.3% | 7.8% | ||
| Q2 25 | -85.7% | 8.9% | ||
| Q1 25 | -44.0% | 5.2% | ||
| Q4 24 | -42.9% | 5.5% | ||
| Q3 24 | -125.9% | 7.9% | ||
| Q2 24 | -125.8% | 8.5% | ||
| Q1 24 | -120.1% | 5.6% |
每股收益（稀释后）RIVNWSO
| Q4 25 | $-0.66 | $1.82 | ||
| Q3 25 | $-0.96 | $3.98 | ||
| Q2 25 | $-0.97 | $4.52 | ||
| Q1 25 | $-0.48 | $1.93 | ||
| Q4 24 | $-0.67 | $2.42 | ||
| Q3 24 | $-1.08 | $4.22 | ||
| Q2 24 | $-1.46 | $4.49 | ||
| Q1 24 | $-1.48 | $2.17 |
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 | $733.3M |
| 总债务越低越好 | — | $361.6M |
| 股东权益账面价值 | $4.6B | $2.8B |
| 总资产 | $14.9B | $4.4B |
| 负债/权益比越低杠杆越低 | — | 0.13× |
8季度趋势，按日历期对齐
现金及短期投资RIVNWSO
| Q4 25 | $6.1B | $733.3M | ||
| Q3 25 | $7.1B | $524.3M | ||
| Q2 25 | $7.5B | $293.0M | ||
| Q1 25 | $7.2B | $431.8M | ||
| Q4 24 | $7.7B | $781.9M | ||
| Q3 24 | $6.7B | $550.0M | ||
| Q2 24 | $7.9B | $424.9M | ||
| Q1 24 | $7.9B | $478.9M |
总债务RIVNWSO
| Q4 25 | — | $361.6M | ||
| Q3 25 | — | $340.8M | ||
| Q2 25 | — | $338.7M | ||
| Q1 25 | — | $346.4M | ||
| Q4 24 | — | $337.2M | ||
| Q3 24 | — | $321.0M | ||
| Q2 24 | $5.5B | $307.1M | ||
| Q1 24 | $4.4B | $306.3M |
股东权益RIVNWSO
| Q4 25 | $4.6B | $2.8B | ||
| Q3 25 | $5.1B | $2.8B | ||
| Q2 25 | $6.1B | $2.8B | ||
| Q1 25 | $6.2B | $2.7B | ||
| Q4 24 | $6.6B | $2.7B | ||
| Q3 24 | $5.9B | $2.7B | ||
| Q2 24 | $6.8B | $2.6B | ||
| Q1 24 | $8.1B | $2.5B |
总资产RIVNWSO
| Q4 25 | $14.9B | $4.4B | ||
| Q3 25 | $15.2B | $4.6B | ||
| Q2 25 | $15.6B | $4.7B | ||
| Q1 25 | $15.5B | $4.5B | ||
| Q4 24 | $15.4B | $4.5B | ||
| Q3 24 | $14.3B | $4.5B | ||
| Q2 24 | $15.4B | $4.4B | ||
| Q1 24 | $15.7B | $4.4B |
负债/权益比RIVNWSO
| Q4 25 | — | 0.13× | ||
| Q3 25 | — | 0.12× | ||
| Q2 25 | — | 0.12× | ||
| Q1 25 | — | 0.13× | ||
| Q4 24 | — | 0.13× | ||
| Q3 24 | — | 0.12× | ||
| Q2 24 | 0.81× | 0.12× | ||
| Q1 24 | 0.55× | 0.12× |
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 | $399.8M |
| 自由现金流经营现金流 - 资本支出 | $-1.1B | $388.5M |
| 自由现金流率自由现金流/营收 | -89.0% | 24.6% |
| 资本支出强度资本支出/营收 | 36.0% | 0.7% |
| 现金转化率经营现金流/净利润 | — | 5.57× |
| 过去12个月自由现金流最近4个季度 | $-2.5B | $535.1M |
8季度趋势，按日历期对齐
经营现金流RIVNWSO
| Q4 25 | $-681.0M | $399.8M | ||
| Q3 25 | $26.0M | $354.9M | ||
| Q2 25 | $64.0M | $-7.4M | ||
| Q1 25 | $-188.0M | $-177.6M | ||
| Q4 24 | $1.2B | $378.9M | ||
| Q3 24 | $-876.0M | $232.8M | ||
| Q2 24 | $-754.0M | $57.7M | ||
| Q1 24 | $-1.3B | $103.7M |
自由现金流RIVNWSO
| Q4 25 | $-1.1B | $388.5M | ||
| Q3 25 | $-421.0M | $346.1M | ||
| Q2 25 | $-398.0M | $-14.3M | ||
| Q1 25 | $-526.0M | $-185.2M | ||
| Q4 24 | $856.0M | $370.9M | ||
| Q3 24 | $-1.2B | $223.0M | ||
| Q2 24 | $-1.0B | $51.3M | ||
| Q1 24 | $-1.5B | $97.9M |
自由现金流率RIVNWSO
| Q4 25 | -89.0% | 24.6% | ||
| Q3 25 | -27.0% | 16.7% | ||
| Q2 25 | -30.5% | -0.7% | ||
| Q1 25 | -42.4% | -12.1% | ||
| Q4 24 | 49.4% | 21.1% | ||
| Q3 24 | -131.9% | 10.3% | ||
| Q2 24 | -89.6% | 2.4% | ||
| Q1 24 | -126.5% | 6.3% |
资本支出强度RIVNWSO
| Q4 25 | 36.0% | 0.7% | ||
| Q3 25 | 28.7% | 0.4% | ||
| Q2 25 | 35.5% | 0.3% | ||
| Q1 25 | 27.3% | 0.5% | ||
| Q4 24 | 18.9% | 0.5% | ||
| Q3 24 | 31.7% | 0.5% | ||
| Q2 24 | 24.4% | 0.3% | ||
| Q1 24 | 21.1% | 0.4% |
现金转化率RIVNWSO
| Q4 25 | — | 5.57× | ||
| Q3 25 | — | 2.20× | ||
| Q2 25 | — | -0.04× | ||
| Q1 25 | — | -2.22× | ||
| Q4 24 | — | 3.91× | ||
| Q3 24 | — | 1.36× | ||
| Q2 24 | — | 0.32× | ||
| Q1 24 | — | 1.19× |
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% |
WSO
暂无分部数据
