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Schneider National, Inc.（SNDR）与华纳音乐集团（WMG）财务数据对比。点击上方公司名可切换其他公司
华纳音乐集团的季度营收约是Schneider National, Inc.的1.3倍（$1.8B vs $1.4B），华纳音乐集团净利率更高（9.6% vs 1.6%，领先8.0%），华纳音乐集团同比增速更快（10.4% vs 4.5%），华纳音乐集团自由现金流更多（$420.0M vs $145.5M），过去两年华纳音乐集团的营收复合增速更高（11.0% vs 3.0%）
美国施耐德国家公司是知名交通运输企业，提供整车运输、多式联运及综合物流服务，业务涵盖区域配送、长途运输、加急运输、专属运力、散货运输、货运代理、越库物流、共同配送点分拨、供应链管理、港口物流等领域，可为客户提供定制化供应链解决方案。
华纳音乐集团（简称WMG）是总部位于美国纽约的跨国娱乐及唱片集团，属于全球唱片行业“三大巨头”之一，市场规模位居全球音乐行业第三位，仅次于环球音乐集团与索尼音乐娱乐。
SNDR vs WMG — 直观对比
营收规模更大
WMG
是对方的1.3倍
$1.4B
营收增速更快
WMG
高出5.9%
4.5%
净利率更高
WMG
高出8.0%
1.6%
自由现金流更多
WMG
多$274.5M
$145.5M
两年增速更快
WMG
近两年复合增速
3.0%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.8B |
| 净利润 | $22.1M | $176.0M |
| 毛利率 | — | 46.4% |
| 营业利润率 | 2.6% | 15.7% |
| 净利率 | 1.6% | 9.6% |
| 营收同比 | 4.5% | 10.4% |
| 净利润同比 | -32.2% | -25.4% |
| 每股收益（稀释后） | $0.13 | — |
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SNDRWMG
| Q4 25 | $1.4B | $1.8B | ||
| Q3 25 | $1.5B | $1.9B | ||
| Q2 25 | $1.4B | $1.7B | ||
| Q1 25 | $1.4B | $1.5B | ||
| Q4 24 | $1.3B | $1.7B | ||
| Q3 24 | $1.3B | $1.6B | ||
| Q2 24 | $1.3B | $1.6B | ||
| Q1 24 | $1.3B | $1.5B |
净利润SNDRWMG
| Q4 25 | $22.1M | $176.0M | ||
| Q3 25 | $19.4M | $109.0M | ||
| Q2 25 | $36.0M | $-16.0M | ||
| Q1 25 | $26.1M | $36.0M | ||
| Q4 24 | $32.6M | $236.0M | ||
| Q3 24 | $30.6M | $41.0M | ||
| Q2 24 | $35.3M | $139.0M | ||
| Q1 24 | $18.5M | $96.0M |
毛利率SNDRWMG
| Q4 25 | — | 46.4% | ||
| Q3 25 | — | 44.6% | ||
| Q2 25 | — | 45.9% | ||
| Q1 25 | — | 46.7% | ||
| Q4 24 | — | 46.3% | ||
| Q3 24 | — | 47.6% | ||
| Q2 24 | — | 46.6% | ||
| Q1 24 | — | 47.1% |
营业利润率SNDRWMG
| Q4 25 | 2.6% | 15.7% | ||
| Q3 25 | 2.4% | 7.7% | ||
| Q2 25 | 3.9% | 10.0% | ||
| Q1 25 | 3.0% | 11.3% | ||
| Q4 24 | 3.2% | 12.8% | ||
| Q3 24 | 3.3% | 8.8% | ||
| Q2 24 | 3.9% | 13.3% | ||
| Q1 24 | 2.2% | 8.0% |
净利率SNDRWMG
| Q4 25 | 1.6% | 9.6% | ||
| Q3 25 | 1.3% | 5.8% | ||
| Q2 25 | 2.5% | -0.9% | ||
| Q1 25 | 1.9% | 2.4% | ||
| Q4 24 | 2.4% | 14.2% | ||
| Q3 24 | 2.3% | 2.5% | ||
| Q2 24 | 2.7% | 8.9% | ||
| Q1 24 | 1.4% | 6.4% |
每股收益（稀释后）SNDRWMG
| Q4 25 | $0.13 | — | ||
| Q3 25 | $0.11 | — | ||
| Q2 25 | $0.20 | — | ||
| Q1 25 | $0.15 | — | ||
| Q4 24 | $0.19 | — | ||
| Q3 24 | $0.17 | — | ||
| Q2 24 | $0.20 | — | ||
| Q1 24 | $0.10 | — |
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 | $41.8M | $751.0M |
| 总债务越低越好 | $390.9M | $4.4B |
| 股东权益账面价值 | $3.0B | $720.0M |
| 总资产 | $4.8B | $10.0B |
| 负债/权益比越低杠杆越低 | 0.13× | 6.07× |
8季度趋势，按日历期对齐
现金及短期投资SNDRWMG
| Q4 25 | $41.8M | $751.0M | ||
| Q3 25 | $235.7M | $532.0M | ||
| Q2 25 | $205.1M | $527.0M | ||
| Q1 25 | $154.3M | $637.0M | ||
| Q4 24 | $165.5M | $802.0M | ||
| Q3 24 | $231.6M | $694.0M | ||
| Q2 24 | $157.2M | $607.0M | ||
| Q1 24 | $124.2M | $587.0M |
总债务SNDRWMG
| Q4 25 | $390.9M | $4.4B | ||
| Q3 25 | $509.8M | $4.4B | ||
| Q2 25 | $512.7M | $4.4B | ||
| Q1 25 | $565.8M | $4.3B | ||
| Q4 24 | $420.8M | $4.0B | ||
| Q3 24 | $124.7M | $4.0B | ||
| Q2 24 | $125.8M | $4.0B | ||
| Q1 24 | $96.6M | $4.0B |
股东权益SNDRWMG
| Q4 25 | $3.0B | $720.0M | ||
| Q3 25 | $3.0B | $647.0M | ||
| Q2 25 | $3.0B | $589.0M | ||
| Q1 25 | $3.0B | $567.0M | ||
| Q4 24 | $3.0B | $545.0M | ||
| Q3 24 | $3.0B | $518.0M | ||
| Q2 24 | $3.0B | $483.0M | ||
| Q1 24 | $2.9B | $433.0M |
总资产SNDRWMG
| Q4 25 | $4.8B | $10.0B | ||
| Q3 25 | $5.0B | $9.8B | ||
| Q2 25 | $5.0B | $9.8B | ||
| Q1 25 | $5.0B | $9.6B | ||
| Q4 24 | $4.9B | $9.1B | ||
| Q3 24 | $4.6B | $9.2B | ||
| Q2 24 | $4.5B | $8.8B | ||
| Q1 24 | $4.6B | $8.7B |
负债/权益比SNDRWMG
| Q4 25 | 0.13× | 6.07× | ||
| Q3 25 | 0.17× | 6.75× | ||
| Q2 25 | 0.17× | 7.41× | ||
| Q1 25 | 0.19× | 7.57× | ||
| Q4 24 | 0.14× | 7.26× | ||
| Q3 24 | 0.04× | 7.75× | ||
| Q2 24 | 0.04× | 8.24× | ||
| Q1 24 | 0.03× | 9.20× |
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 | $186.0M | $440.0M |
| 自由现金流经营现金流 - 资本支出 | $145.5M | $420.0M |
| 自由现金流率自由现金流/营收 | 10.4% | 22.8% |
| 资本支出强度资本支出/营收 | 2.9% | 1.1% |
| 现金转化率经营现金流/净利润 | 8.42× | 2.50× |
| 过去12个月自由现金流最近4个季度 | $285.4M | $663.0M |
8季度趋势，按日历期对齐
经营现金流SNDRWMG
| Q4 25 | $186.0M | $440.0M | ||
| Q3 25 | $184.2M | $231.0M | ||
| Q2 25 | $175.5M | $46.0M | ||
| Q1 25 | $91.7M | $69.0M | ||
| Q4 24 | $199.5M | $332.0M | ||
| Q3 24 | $206.4M | $304.0M | ||
| Q2 24 | $182.6M | $188.0M | ||
| Q1 24 | $97.6M | $-31.0M |
自由现金流SNDRWMG
| Q4 25 | $145.5M | $420.0M | ||
| Q3 25 | $56.2M | $203.0M | ||
| Q2 25 | $106.4M | $7.0M | ||
| Q1 25 | $-22.7M | $33.0M | ||
| Q4 24 | $113.6M | $296.0M | ||
| Q3 24 | $98.7M | $271.0M | ||
| Q2 24 | $85.5M | $160.0M | ||
| Q1 24 | $-25.7M | $-57.0M |
自由现金流率SNDRWMG
| Q4 25 | 10.4% | 22.8% | ||
| Q3 25 | 3.9% | 10.9% | ||
| Q2 25 | 7.5% | 0.4% | ||
| Q1 25 | -1.6% | 2.2% | ||
| Q4 24 | 8.5% | 17.8% | ||
| Q3 24 | 7.5% | 16.6% | ||
| Q2 24 | 6.5% | 10.3% | ||
| Q1 24 | -1.9% | -3.8% |
资本支出强度SNDRWMG
| Q4 25 | 2.9% | 1.1% | ||
| Q3 25 | 8.8% | 1.5% | ||
| Q2 25 | 4.9% | 2.3% | ||
| Q1 25 | 8.2% | 2.4% | ||
| Q4 24 | 6.4% | 2.2% | ||
| Q3 24 | 8.2% | 2.0% | ||
| Q2 24 | 7.4% | 1.8% | ||
| Q1 24 | 9.3% | 1.7% |
现金转化率SNDRWMG
| Q4 25 | 8.42× | 2.50× | ||
| Q3 25 | 9.49× | 2.12× | ||
| Q2 25 | 4.88× | — | ||
| Q1 25 | 3.51× | 1.92× | ||
| Q4 24 | 6.12× | 1.41× | ||
| Q3 24 | 6.75× | 7.41× | ||
| Q2 24 | 5.17× | 1.35× | ||
| Q1 24 | 5.28× | -0.32× |
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
SNDR
| Transportation | $1.3B | 93% |
| Logistics Management | $52.3M | 4% |
| Other | $46.2M | 3% |
WMG
| Digital | $976.0M | 53% |
| Music Publishing | $362.0M | 20% |
| Artist Services And Expanded Rights | $231.0M | 13% |
| Licensing | $121.0M | 7% |
| Performance | $64.0M | 3% |
| Synchronization | $60.0M | 3% |
| Mechanical | $18.0M | 1% |
| Other | $5.0M | 0% |
