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安费诺（APH）与CDW Corporation（CDW）财务数据对比。点击上方公司名可切换其他公司
安费诺的季度营收约是CDW Corporation的1.2倍（$6.4B vs $5.5B），安费诺同比增速更快（49.1% vs 6.3%），安费诺自由现金流更多（$1.5B vs $395.9M），过去两年安费诺的营收复合增速更高（40.6% vs 6.3%）
安费诺是一家总部位于美国的电子零部件制造企业，核心产品涵盖电子连接器、光纤连接器、同轴电缆等各类线缆及互连系统，是全球互连解决方案领域的主流供应商，品牌名称源自其前身American Phenolic Corp的名称缩写组合。
CDW公司是美国多品牌信息技术服务提供商，服务覆盖美国、英国、加拿大三国的商业、政府、教育、医疗领域，总部位于伊利诺伊州弗农希尔斯，位列《财富》500强，2023年全年净销售额达210亿美元。
APH vs CDW — 直观对比
营收规模更大
APH
是对方的1.2倍
$5.5B
营收增速更快
APH
高出42.9%
6.3%
自由现金流更多
APH
多$1.1B
$395.9M
两年增速更快
APH
近两年复合增速
6.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $6.4B | $5.5B |
| 净利润 | $1.2B | — |
| 毛利率 | 38.2% | 22.8% |
| 营业利润率 | 26.8% | 7.8% |
| 净利率 | 18.6% | — |
| 营收同比 | 49.1% | 6.3% |
| 净利润同比 | 60.2% | — |
| 每股收益（稀释后） | $0.93 | $2.13 |
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APHCDW
| Q4 25 | $6.4B | $5.5B | ||
| Q3 25 | $6.2B | $5.7B | ||
| Q2 25 | $5.7B | $6.0B | ||
| Q1 25 | $4.8B | $5.2B | ||
| Q4 24 | $4.3B | $5.2B | ||
| Q3 24 | $4.0B | $5.5B | ||
| Q2 24 | $3.6B | $5.4B | ||
| Q1 24 | $3.3B | $4.9B |
净利润APHCDW
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.2B | $291.0M | ||
| Q2 25 | $1.1B | $271.2M | ||
| Q1 25 | $737.8M | $224.9M | ||
| Q4 24 | $746.1M | — | ||
| Q3 24 | $604.4M | $316.4M | ||
| Q2 24 | $524.8M | $281.1M | ||
| Q1 24 | $548.7M | $216.1M |
毛利率APHCDW
| Q4 25 | 38.2% | 22.8% | ||
| Q3 25 | 38.1% | 21.9% | ||
| Q2 25 | 36.3% | 20.8% | ||
| Q1 25 | 34.2% | 21.6% | ||
| Q4 24 | 34.3% | 22.3% | ||
| Q3 24 | 33.6% | 21.8% | ||
| Q2 24 | 33.6% | 21.8% | ||
| Q1 24 | 33.4% | 21.8% |
营业利润率APHCDW
| Q4 25 | 26.8% | 7.8% | ||
| Q3 25 | 27.5% | 7.7% | ||
| Q2 25 | 25.1% | 7.0% | ||
| Q1 25 | 21.3% | 7.0% | ||
| Q4 24 | 22.1% | 7.9% | ||
| Q3 24 | 20.3% | 8.7% | ||
| Q2 24 | 19.4% | 8.0% | ||
| Q1 24 | 21.0% | 6.7% |
净利率APHCDW
| Q4 25 | 18.6% | — | ||
| Q3 25 | 20.1% | 5.1% | ||
| Q2 25 | 19.3% | 4.5% | ||
| Q1 25 | 15.3% | 4.3% | ||
| Q4 24 | 17.3% | — | ||
| Q3 24 | 15.0% | 5.7% | ||
| Q2 24 | 14.5% | 5.2% | ||
| Q1 24 | 16.9% | 4.4% |
每股收益（稀释后）APHCDW
| Q4 25 | $0.93 | $2.13 | ||
| Q3 25 | $0.97 | $2.21 | ||
| Q2 25 | $0.86 | $2.05 | ||
| Q1 25 | $0.58 | $1.69 | ||
| Q4 24 | $0.16 | $1.97 | ||
| Q3 24 | $0.48 | $2.34 | ||
| Q2 24 | $0.41 | $2.07 | ||
| Q1 24 | $0.87 | $1.59 |
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 | $11.4B | $618.7M |
| 总债务越低越好 | $14.6B | — |
| 股东权益账面价值 | $13.4B | $2.6B |
| 总资产 | $36.2B | $16.0B |
| 负债/权益比越低杠杆越低 | 1.09× | — |
8季度趋势，按日历期对齐
现金及短期投资APHCDW
| Q4 25 | $11.4B | $618.7M | ||
| Q3 25 | $3.9B | $452.9M | ||
| Q2 25 | $3.2B | $481.0M | ||
| Q1 25 | $1.7B | $688.1M | ||
| Q4 24 | $3.3B | $717.7M | ||
| Q3 24 | $1.6B | $1.2B | ||
| Q2 24 | $1.3B | $665.3M | ||
| Q1 24 | $2.0B | $803.8M |
总债务APHCDW
| Q4 25 | $14.6B | — | ||
| Q3 25 | $7.1B | — | ||
| Q2 25 | $7.1B | — | ||
| Q1 25 | $6.8B | — | ||
| Q4 24 | $6.5B | — | ||
| Q3 24 | $5.1B | — | ||
| Q2 24 | $5.0B | — | ||
| Q1 24 | $3.6B | — |
股东权益APHCDW
| Q4 25 | $13.4B | $2.6B | ||
| Q3 25 | $12.5B | $2.5B | ||
| Q2 25 | $11.5B | $2.5B | ||
| Q1 25 | $10.3B | $2.3B | ||
| Q4 24 | $9.8B | $2.4B | ||
| Q3 24 | $9.5B | $2.3B | ||
| Q2 24 | $9.0B | $2.2B | ||
| Q1 24 | $8.7B | $2.1B |
总资产APHCDW
| Q4 25 | $36.2B | $16.0B | ||
| Q3 25 | $27.1B | $15.2B | ||
| Q2 25 | $25.7B | $15.3B | ||
| Q1 25 | $22.9B | $15.0B | ||
| Q4 24 | $21.4B | $14.7B | ||
| Q3 24 | $19.6B | $14.4B | ||
| Q2 24 | $18.6B | $13.6B | ||
| Q1 24 | $16.7B | $13.2B |
负债/权益比APHCDW
| Q4 25 | 1.09× | — | ||
| Q3 25 | 0.57× | — | ||
| Q2 25 | 0.62× | — | ||
| Q1 25 | 0.66× | — | ||
| Q4 24 | 0.66× | — | ||
| Q3 24 | 0.54× | — | ||
| Q2 24 | 0.56× | — | ||
| Q1 24 | 0.41× | — |
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 | $1.7B | $433.8M |
| 自由现金流经营现金流 - 资本支出 | $1.5B | $395.9M |
| 自由现金流率自由现金流/营收 | 22.8% | 7.2% |
| 资本支出强度资本支出/营收 | 3.9% | 0.7% |
| 现金转化率经营现金流/净利润 | 1.44× | — |
| 过去12个月自由现金流最近4个季度 | $4.4B | $1.1B |
8季度趋势，按日历期对齐
经营现金流APHCDW
| Q4 25 | $1.7B | $433.8M | ||
| Q3 25 | $1.5B | $328.3M | ||
| Q2 25 | $1.4B | $155.9M | ||
| Q1 25 | $764.9M | $287.2M | ||
| Q4 24 | $847.1M | $345.3M | ||
| Q3 24 | $704.0M | $342.1M | ||
| Q2 24 | $664.1M | $149.9M | ||
| Q1 24 | $599.5M | $440.0M |
自由现金流APHCDW
| Q4 25 | $1.5B | $395.9M | ||
| Q3 25 | $1.2B | $298.5M | ||
| Q2 25 | $1.1B | $133.4M | ||
| Q1 25 | $576.3M | $260.3M | ||
| Q4 24 | $647.3M | $316.7M | ||
| Q3 24 | $474.0M | $308.5M | ||
| Q2 24 | $522.8M | $119.0M | ||
| Q1 24 | $505.2M | $410.5M |
自由现金流率APHCDW
| Q4 25 | 22.8% | 7.2% | ||
| Q3 25 | 19.6% | 5.2% | ||
| Q2 25 | 19.8% | 2.2% | ||
| Q1 25 | 12.0% | 5.0% | ||
| Q4 24 | 15.0% | 6.1% | ||
| Q3 24 | 11.7% | 5.6% | ||
| Q2 24 | 14.5% | 2.2% | ||
| Q1 24 | 15.5% | 8.4% |
资本支出强度APHCDW
| Q4 25 | 3.9% | 0.7% | ||
| Q3 25 | 4.2% | 0.5% | ||
| Q2 25 | 5.3% | 0.4% | ||
| Q1 25 | 3.9% | 0.5% | ||
| Q4 24 | 4.6% | 0.6% | ||
| Q3 24 | 5.7% | 0.6% | ||
| Q2 24 | 3.9% | 0.6% | ||
| Q1 24 | 2.9% | 0.6% |
现金转化率APHCDW
| Q4 25 | 1.44× | — | ||
| Q3 25 | 1.18× | 1.13× | ||
| Q2 25 | 1.30× | 0.57× | ||
| Q1 25 | 1.04× | 1.28× | ||
| Q4 24 | 1.14× | — | ||
| Q3 24 | 1.16× | 1.08× | ||
| Q2 24 | 1.27× | 0.53× | ||
| Q1 24 | 1.09× | 2.04× |
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
APH
| Communications Solutions Segment | $3.5B | 54% |
| Harsh Environment Solutions Segment | $1.7B | 26% |
| Sales Channel Through Intermediary | $1.4B | 21% |
CDW
暂无分部数据
