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RUSH ENTERPRISES INC \TX\（RUSHA）与Toll Brothers, Inc.（TOL）财务数据对比。点击上方公司名可切换其他公司
Toll Brothers, Inc.的季度营收约是RUSH ENTERPRISES INC \TX\的2.0倍（$3.4B vs $1.7B），Toll Brothers, Inc.净利率更高（13.0% vs 3.7%，领先9.4%），Toll Brothers, Inc.同比增速更快（2.7% vs -9.0%），Toll Brothers, Inc.自由现金流更多（$772.2M vs $411.6M），过去两年Toll Brothers, Inc.的营收复合增速更高（32.6% vs -6.8%）
Rush Enterprises是总部位于美国得克萨斯州新布朗费尔斯的商用车经销商，核心业务是通过旗下Rush Truck Centers销售全新及二手卡车。2019年该公司在全美20个州运营超200家卡车中心，在加拿大设有14个网点，2020年入选财富500强榜单。
Toll Brothers, Inc.是美国知名住宅建造企业，业务涵盖美国境内住宅及商业地产的开发、营销与融资服务。2020年按住宅建造营收统计，该公司为全美第五大房屋建造商，位列《财富》美国500强第411位。
RUSHA vs TOL — 直观对比
营收规模更大
TOL
是对方的2.0倍
$1.7B
营收增速更快
TOL
高出11.7%
-9.0%
净利率更高
TOL
高出9.4%
3.7%
自由现金流更多
TOL
多$360.6M
$411.6M
两年增速更快
TOL
近两年复合增速
-6.8%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $3.4B |
| 净利润 | $61.7M | $446.7M |
| 毛利率 | 20.4% | 24.8% |
| 营业利润率 | 4.9% | 16.5% |
| 净利率 | 3.7% | 13.0% |
| 营收同比 | -9.0% | 2.7% |
| 净利润同比 | 1.8% | -6.0% |
| 每股收益（稀释后） | $0.77 | $4.51 |
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RUSHATOL
| Q1 26 | $1.7B | — | ||
| Q4 25 | $1.7B | $3.4B | ||
| Q3 25 | $1.8B | $2.9B | ||
| Q2 25 | $1.8B | $2.7B | ||
| Q1 25 | $1.8B | $1.9B | ||
| Q4 24 | $1.9B | $3.3B | ||
| Q3 24 | $1.8B | $2.7B | ||
| Q2 24 | $1.9B | $2.8B |
净利润RUSHATOL
| Q1 26 | $61.7M | — | ||
| Q4 25 | $64.3M | $446.7M | ||
| Q3 25 | $66.7M | $369.6M | ||
| Q2 25 | $72.4M | $352.4M | ||
| Q1 25 | $60.3M | $177.7M | ||
| Q4 24 | $74.8M | $475.4M | ||
| Q3 24 | $79.1M | $374.6M | ||
| Q2 24 | $78.7M | $481.6M |
毛利率RUSHATOL
| Q1 26 | 20.4% | — | ||
| Q4 25 | 20.8% | 24.8% | ||
| Q3 25 | 21.0% | 25.2% | ||
| Q2 25 | 20.7% | 25.8% | ||
| Q1 25 | 20.3% | 24.7% | ||
| Q4 24 | 19.3% | 26.4% | ||
| Q3 24 | 21.0% | 27.2% | ||
| Q2 24 | 20.2% | 30.4% |
营业利润率RUSHATOL
| Q1 26 | 4.9% | — | ||
| Q4 25 | 5.5% | 16.5% | ||
| Q3 25 | 5.6% | 16.6% | ||
| Q2 25 | 6.0% | 16.4% | ||
| Q1 25 | 5.2% | 11.8% | ||
| Q4 24 | 5.8% | 18.3% | ||
| Q3 24 | 6.7% | 18.2% | ||
| Q2 24 | 6.4% | 22.0% |
净利率RUSHATOL
| Q1 26 | 3.7% | — | ||
| Q4 25 | 3.8% | 13.0% | ||
| Q3 25 | 3.7% | 12.6% | ||
| Q2 25 | 3.9% | 12.9% | ||
| Q1 25 | 3.4% | 9.6% | ||
| Q4 24 | 3.9% | 14.3% | ||
| Q3 24 | 4.4% | 13.7% | ||
| Q2 24 | 4.1% | 17.0% |
每股收益（稀释后）RUSHATOL
| Q1 26 | $0.77 | — | ||
| Q4 25 | $0.81 | $4.51 | ||
| Q3 25 | $0.83 | $3.73 | ||
| Q2 25 | $0.90 | $3.50 | ||
| Q1 25 | $0.73 | $1.75 | ||
| Q4 24 | $-95.13 | $4.61 | ||
| Q3 24 | $0.97 | $3.60 | ||
| Q2 24 | $97.00 | $4.55 |
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 | — | $1.3B |
| 总债务越低越好 | $277.8M | — |
| 股东权益账面价值 | $2.3B | $8.3B |
| 总资产 | $4.5B | $14.5B |
| 负债/权益比越低杠杆越低 | 0.12× | — |
8季度趋势，按日历期对齐
现金及短期投资RUSHATOL
| Q1 26 | — | — | ||
| Q4 25 | $212.6M | $1.3B | ||
| Q3 25 | $242.0M | $852.3M | ||
| Q2 25 | $211.1M | $686.5M | ||
| Q1 25 | $228.7M | $574.8M | ||
| Q4 24 | $228.1M | $1.3B | ||
| Q3 24 | $185.1M | $893.4M | ||
| Q2 24 | $167.3M | $1.0B |
总债务RUSHATOL
| Q1 26 | $277.8M | — | ||
| Q4 25 | $274.8M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $408.4M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益RUSHATOL
| Q1 26 | $2.3B | — | ||
| Q4 25 | $2.2B | $8.3B | ||
| Q3 25 | $2.2B | $8.1B | ||
| Q2 25 | $2.2B | $7.9B | ||
| Q1 25 | $2.2B | $7.8B | ||
| Q4 24 | $2.1B | $7.7B | ||
| Q3 24 | $2.1B | $7.4B | ||
| Q2 24 | $2.0B | $7.3B |
总资产RUSHATOL
| Q1 26 | $4.5B | — | ||
| Q4 25 | $4.4B | $14.5B | ||
| Q3 25 | $4.6B | $14.4B | ||
| Q2 25 | $4.7B | $14.2B | ||
| Q1 25 | $4.7B | $13.6B | ||
| Q4 24 | $4.6B | $13.4B | ||
| Q3 24 | $4.6B | $13.4B | ||
| Q2 24 | $4.5B | $13.3B |
负债/权益比RUSHATOL
| Q1 26 | 0.12× | — | ||
| Q4 25 | 0.12× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.19× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — | $800.0M |
| 自由现金流经营现金流 - 资本支出 | $411.6M | $772.2M |
| 自由现金流率自由现金流/营收 | 24.4% | 22.6% |
| 资本支出强度资本支出/营收 | 2.0% | 0.8% |
| 现金转化率经营现金流/净利润 | — | 1.79× |
| 过去12个月自由现金流最近4个季度 | $828.4M | $1.0B |
8季度趋势，按日历期对齐
经营现金流RUSHATOL
| Q1 26 | — | — | ||
| Q4 25 | $112.9M | $800.0M | ||
| Q3 25 | $367.8M | $370.3M | ||
| Q2 25 | $227.6M | $362.8M | ||
| Q1 25 | $153.5M | $-420.8M | ||
| Q4 24 | $392.3M | $682.5M | ||
| Q3 24 | $111.7M | $175.6M | ||
| Q2 24 | $270.6M | $459.0M |
自由现金流RUSHATOL
| Q1 26 | $411.6M | — | ||
| Q4 25 | $31.9M | $772.2M | ||
| Q3 25 | $271.2M | $344.9M | ||
| Q2 25 | $113.8M | $347.3M | ||
| Q1 25 | $45.1M | $-438.1M | ||
| Q4 24 | $263.5M | $664.3M | ||
| Q3 24 | $-20.0M | $149.9M | ||
| Q2 24 | $177.2M | $442.9M |
自由现金流率RUSHATOL
| Q1 26 | 24.4% | — | ||
| Q4 25 | 1.9% | 22.6% | ||
| Q3 25 | 15.2% | 11.7% | ||
| Q2 25 | 6.2% | 12.7% | ||
| Q1 25 | 2.6% | -23.6% | ||
| Q4 24 | 13.7% | 19.9% | ||
| Q3 24 | -1.1% | 5.5% | ||
| Q2 24 | 9.1% | 15.6% |
资本支出强度RUSHATOL
| Q1 26 | 2.0% | — | ||
| Q4 25 | 4.8% | 0.8% | ||
| Q3 25 | 5.4% | 0.9% | ||
| Q2 25 | 6.2% | 0.6% | ||
| Q1 25 | 6.2% | 0.9% | ||
| Q4 24 | 6.7% | 0.5% | ||
| Q3 24 | 7.3% | 0.9% | ||
| Q2 24 | 4.8% | 0.6% |
现金转化率RUSHATOL
| Q1 26 | — | — | ||
| Q4 25 | 1.75× | 1.79× | ||
| Q3 25 | 5.51× | 1.00× | ||
| Q2 25 | 3.14× | 1.03× | ||
| Q1 25 | 2.55× | -2.37× | ||
| Q4 24 | 5.25× | 1.44× | ||
| Q3 24 | 1.41× | 0.47× | ||
| Q2 24 | 3.44× | 0.95× |
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
RUSHA
| New and used commercial vehicle sales | $955.1M | 57% |
| Aftermarket products and services sales | $627.2M | 37% |
| Lease and rental sales | $92.3M | 5% |
| Finance and insurance | $5.6M | 0% |
TOL
| Home Building | $3.4B | 100% |
| Land | $9.4M | 0% |
