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安朗杰（ALLE）与Camping World Holdings, Inc.（CWH）财务数据对比。点击上方公司名可切换其他公司
Camping World Holdings, Inc.的季度营收约是安朗杰的1.1倍（$1.2B vs $1.0B），安朗杰净利率更高（13.4% vs -9.3%，领先22.7%），安朗杰同比增速更快（9.7% vs -2.6%），过去两年安朗杰的营收复合增速更高（3.5% vs -7.2%）
安朗杰是全球知名的安防产品及解决方案供应商，面向全球生产销售机械与电子类安防产品，包括闭门器、出入口控制设备、锁具、电子门禁系统、考勤与人员效能管理系统、门体系统及相关配件，服务商业、公共机构、住宅等多领域终端用户
露营世界控股公司是美国知名露营房车行业企业，总部位于伊利诺伊州林肯郡，主营休闲房车销售、房车配件供应及售后维保服务，同时也售卖各类露营装备。目前公司在全美共设有202家线下门店，除线下门店经营外，还通过电话等渠道开展零售业务，2016年10月完成首次公开募股上市，募资2.51亿美元。
ALLE vs CWH — 直观对比
营收规模更大
CWH
是对方的1.1倍
$1.0B
营收增速更快
ALLE
高出12.3%
-2.6%
净利率更高
ALLE
高出22.7%
-9.3%
两年增速更快
ALLE
近两年复合增速
-7.2%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $1.2B |
| 净利润 | $138.1M | $-109.1M |
| 毛利率 | 44.0% | 28.8% |
| 营业利润率 | 18.9% | -4.3% |
| 净利率 | 13.4% | -9.3% |
| 营收同比 | 9.7% | -2.6% |
| 净利润同比 | -6.8% | -83.3% |
| 每股收益（稀释后） | — | — |
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ALLECWH
| Q1 26 | $1.0B | — | ||
| Q4 25 | $1.0B | $1.2B | ||
| Q3 25 | $1.1B | $1.8B | ||
| Q2 25 | $1.0B | $2.0B | ||
| Q1 25 | $941.9M | $1.4B | ||
| Q4 24 | $945.6M | $1.2B | ||
| Q3 24 | $967.1M | $1.7B | ||
| Q2 24 | $965.6M | $1.8B |
净利润ALLECWH
| Q1 26 | $138.1M | — | ||
| Q4 25 | $147.5M | $-109.1M | ||
| Q3 25 | $188.4M | $-40.4M | ||
| Q2 25 | $159.7M | $30.2M | ||
| Q1 25 | $148.2M | $-12.3M | ||
| Q4 24 | $144.1M | $-59.5M | ||
| Q3 24 | $174.2M | $5.5M | ||
| Q2 24 | $155.4M | $9.8M |
毛利率ALLECWH
| Q1 26 | 44.0% | — | ||
| Q4 25 | 44.5% | 28.8% | ||
| Q3 25 | 45.8% | 28.6% | ||
| Q2 25 | 45.6% | 30.0% | ||
| Q1 25 | 44.9% | 30.4% | ||
| Q4 24 | 44.1% | 31.3% | ||
| Q3 24 | 44.7% | 28.9% | ||
| Q2 24 | 44.4% | 30.3% |
营业利润率ALLECWH
| Q1 26 | 18.9% | — | ||
| Q4 25 | 20.3% | -4.3% | ||
| Q3 25 | 21.8% | 4.4% | ||
| Q2 25 | 21.5% | 6.6% | ||
| Q1 25 | 20.9% | 1.5% | ||
| Q4 24 | 19.5% | -1.3% | ||
| Q3 24 | 22.2% | 3.7% | ||
| Q2 24 | 21.6% | 5.3% |
净利率ALLECWH
| Q1 26 | 13.4% | — | ||
| Q4 25 | 14.3% | -9.3% | ||
| Q3 25 | 17.6% | -2.2% | ||
| Q2 25 | 15.6% | 1.5% | ||
| Q1 25 | 15.7% | -0.9% | ||
| Q4 24 | 15.2% | -4.9% | ||
| Q3 24 | 18.0% | 0.3% | ||
| Q2 24 | 16.1% | 0.5% |
每股收益（稀释后）ALLECWH
| Q1 26 | — | — | ||
| Q4 25 | $1.70 | — | ||
| Q3 25 | $2.18 | — | ||
| Q2 25 | $1.85 | — | ||
| Q1 25 | $1.71 | — | ||
| Q4 24 | $1.65 | — | ||
| Q3 24 | $1.99 | — | ||
| Q2 24 | $1.77 | — |
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 | $308.9M | $215.0M |
| 总债务越低越好 | $2.0B | $1.5B |
| 股东权益账面价值 | $2.1B | $228.6M |
| 总资产 | $5.3B | $5.0B |
| 负债/权益比越低杠杆越低 | 0.97× | 6.44× |
8季度趋势，按日历期对齐
现金及短期投资ALLECWH
| Q1 26 | $308.9M | — | ||
| Q4 25 | $356.2M | $215.0M | ||
| Q3 25 | $302.7M | $230.5M | ||
| Q2 25 | $656.8M | $118.1M | ||
| Q1 25 | $494.5M | $20.9M | ||
| Q4 24 | $503.8M | $208.4M | ||
| Q3 24 | $878.9M | $28.4M | ||
| Q2 24 | $747.5M | $23.7M |
总债务ALLECWH
| Q1 26 | $2.0B | — | ||
| Q4 25 | $2.0B | $1.5B | ||
| Q3 25 | $2.1B | $1.5B | ||
| Q2 25 | $2.1B | $1.5B | ||
| Q1 25 | $2.0B | $1.5B | ||
| Q4 24 | $2.0B | $1.5B | ||
| Q3 24 | $2.4B | $1.5B | ||
| Q2 24 | $2.4B | $1.5B |
股东权益ALLECWH
| Q1 26 | $2.1B | — | ||
| Q4 25 | $2.1B | $228.6M | ||
| Q3 25 | $1.9B | $296.2M | ||
| Q2 25 | $1.8B | $340.5M | ||
| Q1 25 | $1.6B | $310.5M | ||
| Q4 24 | $1.5B | $326.6M | ||
| Q3 24 | $1.6B | $151.6M | ||
| Q2 24 | $1.4B | $149.7M |
总资产ALLECWH
| Q1 26 | $5.3B | — | ||
| Q4 25 | $5.2B | $5.0B | ||
| Q3 25 | $5.2B | $5.0B | ||
| Q2 25 | $4.9B | $5.2B | ||
| Q1 25 | $4.6B | $5.1B | ||
| Q4 24 | $4.5B | $4.9B | ||
| Q3 24 | $5.0B | $4.7B | ||
| Q2 24 | $4.8B | $5.0B |
负债/权益比ALLECWH
| Q1 26 | 0.97× | — | ||
| Q4 25 | 0.96× | 6.44× | ||
| Q3 25 | 1.07× | 5.00× | ||
| Q2 25 | 1.16× | 4.42× | ||
| Q1 25 | 1.24× | 4.87× | ||
| Q4 24 | 1.33× | 4.64× | ||
| Q3 24 | 1.53× | 10.09× | ||
| Q2 24 | 1.69× | 10.28× |
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 | $101.3M | $-227.2M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | 2.0% | — |
| 现金转化率经营现金流/净利润 | 0.73× | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流ALLECWH
| Q1 26 | $101.3M | — | ||
| Q4 25 | $240.1M | $-227.2M | ||
| Q3 25 | $229.5M | $139.8M | ||
| Q2 25 | $209.7M | $187.9M | ||
| Q1 25 | $104.5M | $-232.5M | ||
| Q4 24 | $219.0M | $-163.4M | ||
| Q3 24 | $231.9M | $324.2M | ||
| Q2 24 | $173.0M | $152.3M |
自由现金流ALLECWH
| Q1 26 | — | — | ||
| Q4 25 | $200.5M | — | ||
| Q3 25 | $209.8M | — | ||
| Q2 25 | $192.0M | — | ||
| Q1 25 | $83.4M | — | ||
| Q4 24 | $194.9M | — | ||
| Q3 24 | $212.0M | — | ||
| Q2 24 | $152.1M | — |
自由现金流率ALLECWH
| Q1 26 | — | — | ||
| Q4 25 | 19.4% | — | ||
| Q3 25 | 19.6% | — | ||
| Q2 25 | 18.8% | — | ||
| Q1 25 | 8.9% | — | ||
| Q4 24 | 20.6% | — | ||
| Q3 24 | 21.9% | — | ||
| Q2 24 | 15.8% | — |
资本支出强度ALLECWH
| Q1 26 | 2.0% | — | ||
| Q4 25 | 3.8% | — | ||
| Q3 25 | 1.8% | — | ||
| Q2 25 | 1.7% | — | ||
| Q1 25 | 2.2% | — | ||
| Q4 24 | 2.5% | — | ||
| Q3 24 | 2.1% | — | ||
| Q2 24 | 2.2% | — |
现金转化率ALLECWH
| Q1 26 | 0.73× | — | ||
| Q4 25 | 1.63× | — | ||
| Q3 25 | 1.22× | — | ||
| Q2 25 | 1.31× | 6.22× | ||
| Q1 25 | 0.71× | — | ||
| Q4 24 | 1.52× | — | ||
| Q3 24 | 1.33× | 58.93× | ||
| Q2 24 | 1.11× | 15.59× |
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
ALLE
| Allegion Americas | $809.9M | 78% |
| Allegion International | $223.7M | 22% |
CWH
| New Vehicles | $457.8M | 39% |
| Used Vehicles | $386.5M | 33% |
| Products Service And Other | $160.5M | 14% |
| Finance And Insurance Net | $111.4M | 9% |
| Good Sam Services And Plans | $48.0M | 4% |
| Good Sam Club | $10.5M | 1% |
