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TELUS CORP（TU）与Waste Connections, Inc.（WCN）财务数据对比。点击上方公司名可切换其他公司
TELUS CORP的季度营收约是Waste Connections, Inc.的1.6倍（$3.7B vs $2.4B），Waste Connections, Inc.净利率更高（10.9% vs -4.8%，领先15.7%），Waste Connections, Inc.同比增速更快（5.0% vs 2.2%）
TELUS是加拿大上市综合控股集团，总部位于不列颠哥伦比亚省温哥华。旗下业务涵盖四大板块：通信业务提供固话、电视、数据及互联网服务；移动业务提供无线通信服务；健康板块提供医疗产品及服务；数字业务面向全球提供多语种客户服务外包与数字IT服务。
Waste Connections, Inc.是北美综合废弃物服务企业，总部位于美国得克萨斯州伍德兰兹，业务范围覆盖美国与加拿大，主营固体废弃物的收集、转运、处理及回收服务，是北美第三大废弃物管理企业。
TU vs WCN — 直观对比
营收规模更大
TU
是对方的1.6倍
$2.4B
营收增速更快
WCN
高出2.8%
2.2%
净利率更高
WCN
高出15.7%
-4.8%
损益表 — Q2 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.7B | $2.4B |
| 净利润 | $-178.8M | $258.5M |
| 毛利率 | 90.2% | 42.5% |
| 营业利润率 | 3.4% | 17.7% |
| 净利率 | -4.8% | 10.9% |
| 营收同比 | 2.2% | 5.0% |
| 净利润同比 | -210.9% | 231.9% |
| 每股收益（稀释后） | — | $1.01 |
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TUWCN
| Q4 25 | — | $2.4B | ||
| Q3 25 | — | $2.5B | ||
| Q2 25 | $3.7B | $2.4B | ||
| Q1 25 | — | $2.2B | ||
| Q4 24 | — | $2.3B | ||
| Q3 24 | — | $2.3B | ||
| Q2 24 | $3.6B | $2.2B | ||
| Q1 24 | — | $2.1B |
净利润TUWCN
| Q4 25 | — | $258.5M | ||
| Q3 25 | — | $286.3M | ||
| Q2 25 | $-178.8M | $290.3M | ||
| Q1 25 | — | $241.5M | ||
| Q4 24 | — | $-196.0M | ||
| Q3 24 | — | $308.0M | ||
| Q2 24 | $161.3M | $275.5M | ||
| Q1 24 | — | $230.1M |
毛利率TUWCN
| Q4 25 | — | 42.5% | ||
| Q3 25 | — | 42.8% | ||
| Q2 25 | 90.2% | 42.1% | ||
| Q1 25 | — | 42.0% | ||
| Q4 24 | — | 41.4% | ||
| Q3 24 | — | 42.5% | ||
| Q2 24 | 87.9% | 42.1% | ||
| Q1 24 | — | 41.1% |
营业利润率TUWCN
| Q4 25 | — | 17.7% | ||
| Q3 25 | — | 17.9% | ||
| Q2 25 | 3.4% | 19.1% | ||
| Q1 25 | — | 17.5% | ||
| Q4 24 | — | -8.8% | ||
| Q3 24 | — | 20.3% | ||
| Q2 24 | 13.7% | 18.9% | ||
| Q1 24 | — | 17.7% |
净利率TUWCN
| Q4 25 | — | 10.9% | ||
| Q3 25 | — | 11.6% | ||
| Q2 25 | -4.8% | 12.1% | ||
| Q1 25 | — | 10.8% | ||
| Q4 24 | — | -8.7% | ||
| Q3 24 | — | 13.2% | ||
| Q2 24 | 4.4% | 12.3% | ||
| Q1 24 | — | 11.1% |
每股收益（稀释后）TUWCN
| Q4 25 | — | $1.01 | ||
| Q3 25 | — | $1.11 | ||
| Q2 25 | — | $1.12 | ||
| Q1 25 | — | $0.93 | ||
| Q4 24 | — | $-0.76 | ||
| Q3 24 | — | $1.19 | ||
| Q2 24 | — | $1.07 | ||
| Q1 24 | — | $0.89 |
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 | $2.7B | $46.0M |
| 总债务越低越好 | — | $8.8B |
| 股东权益账面价值 | $11.8B | $8.2B |
| 总资产 | $44.3B | $21.1B |
| 负债/权益比越低杠杆越低 | — | 1.07× |
8季度趋势，按日历期对齐
现金及短期投资TUWCN
| Q4 25 | — | $46.0M | ||
| Q3 25 | — | $117.6M | ||
| Q2 25 | $2.7B | $110.2M | ||
| Q1 25 | — | $111.2M | ||
| Q4 24 | — | $62.4M | ||
| Q3 24 | — | $115.3M | ||
| Q2 24 | $676.7M | $78.7M | ||
| Q1 24 | — | $112.0M |
总债务TUWCN
| Q4 25 | — | $8.8B | ||
| Q3 25 | — | $8.6B | ||
| Q2 25 | — | $8.3B | ||
| Q1 25 | — | $8.4B | ||
| Q4 24 | — | $8.1B | ||
| Q3 24 | — | $8.2B | ||
| Q2 24 | — | $7.7B | ||
| Q1 24 | — | $7.8B |
股东权益TUWCN
| Q4 25 | — | $8.2B | ||
| Q3 25 | — | $8.1B | ||
| Q2 25 | $11.8B | $8.4B | ||
| Q1 25 | — | $8.0B | ||
| Q4 24 | — | $7.9B | ||
| Q3 24 | — | $8.3B | ||
| Q2 24 | $12.4B | $8.0B | ||
| Q1 24 | — | $7.8B |
总资产TUWCN
| Q4 25 | — | $21.1B | ||
| Q3 25 | — | $20.8B | ||
| Q2 25 | $44.3B | $20.7B | ||
| Q1 25 | — | $20.3B | ||
| Q4 24 | — | $19.8B | ||
| Q3 24 | — | $20.1B | ||
| Q2 24 | $41.8B | $19.3B | ||
| Q1 24 | — | $19.1B |
负债/权益比TUWCN
| Q4 25 | — | 1.07× | ||
| Q3 25 | — | 1.07× | ||
| Q2 25 | — | 1.00× | ||
| Q1 25 | — | 1.05× | ||
| Q4 24 | — | 1.03× | ||
| Q3 24 | — | 0.99× | ||
| Q2 24 | — | 0.96× | ||
| Q1 24 | — | 1.00× |
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 | $851.2M | $556.9M |
| 自由现金流经营现金流 - 资本支出 | — | $172.6M |
| 自由现金流率自由现金流/营收 | — | 7.3% |
| 资本支出强度资本支出/营收 | — | 16.2% |
| 现金转化率经营现金流/净利润 | — | 2.15× |
| 过去12个月自由现金流最近4个季度 | — | $1.2B |
8季度趋势，按日历期对齐
经营现金流TUWCN
| Q4 25 | — | $556.9M | ||
| Q3 25 | — | $677.4M | ||
| Q2 25 | $851.2M | $638.2M | ||
| Q1 25 | — | $541.5M | ||
| Q4 24 | — | $568.9M | ||
| Q3 24 | — | $558.3M | ||
| Q2 24 | $1.0B | $611.4M | ||
| Q1 24 | — | $490.3M |
自由现金流TUWCN
| Q4 25 | — | $172.6M | ||
| Q3 25 | — | $380.3M | ||
| Q2 25 | — | $352.9M | ||
| Q1 25 | — | $329.1M | ||
| Q4 24 | — | $172.2M | ||
| Q3 24 | — | $286.2M | ||
| Q2 24 | — | $394.2M | ||
| Q1 24 | — | $320.4M |
自由现金流率TUWCN
| Q4 25 | — | 7.3% | ||
| Q3 25 | — | 15.5% | ||
| Q2 25 | — | 14.7% | ||
| Q1 25 | — | 14.8% | ||
| Q4 24 | — | 7.6% | ||
| Q3 24 | — | 12.2% | ||
| Q2 24 | — | 17.5% | ||
| Q1 24 | — | 15.5% |
资本支出强度TUWCN
| Q4 25 | — | 16.2% | ||
| Q3 25 | — | 12.1% | ||
| Q2 25 | — | 11.9% | ||
| Q1 25 | — | 9.5% | ||
| Q4 24 | — | 17.6% | ||
| Q3 24 | — | 11.6% | ||
| Q2 24 | — | 9.7% | ||
| Q1 24 | — | 8.2% |
现金转化率TUWCN
| Q4 25 | — | 2.15× | ||
| Q3 25 | — | 2.37× | ||
| Q2 25 | — | 2.20× | ||
| Q1 25 | — | 2.24× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.81× | ||
| Q2 24 | 6.28× | 2.22× | ||
| Q1 24 | — | 2.13× |
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
TU
暂无分部数据
WCN
| Southern | $552.9M | 23% |
| Central | $450.9M | 19% |
| Landfill | $386.5M | 16% |
| Transfer | $370.6M | 16% |
| Other | $347.9M | 15% |
| Exploration And Production Waste Treatment Recovery And Disposal | $171.1M | 7% |
| Solid Waste Recycling | $51.2M | 2% |
| Intermodal And Other | $42.3M | 2% |
