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阿普塔集团（ATR）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.的季度营收约是阿普塔集团的1.2倍（$1.2B vs $962.7M），阿普塔集团净利率更高（7.7% vs -9.3%，领先17.0%），阿普塔集团同比增速更快（13.5% vs -2.6%），过去两年阿普塔集团的营收复合增速更高（2.6% vs -7.2%）
阿普塔集团（AptarGroup, Inc.）是总部位于美国的全球性制造企业，主营消费品分配包装产品及药物给药装置的研发与生产，目前在全球18个国家设有生产运营基地，服务医药、快消等多领域客户。
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。
ATR vs CWH — 直观对比
营收规模更大
CWH
是对方的1.2倍
$962.7M
营收增速更快
ATR
高出16.1%
-2.6%
净利率更高
ATR
高出17.0%
-9.3%
两年增速更快
ATR
近两年复合增速
-7.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $962.7M | $1.2B |
| 净利润 | $74.3M | $-109.1M |
| 毛利率 | — | 28.8% |
| 营业利润率 | 11.0% | -4.3% |
| 净利率 | 7.7% | -9.3% |
| 营收同比 | 13.5% | -2.6% |
| 净利润同比 | -26.4% | -83.3% |
| 每股收益（稀释后） | $1.13 | — |
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ATRCWH
| Q4 25 | $962.7M | $1.2B | ||
| Q3 25 | $961.1M | $1.8B | ||
| Q2 25 | $966.0M | $2.0B | ||
| Q1 25 | $887.3M | $1.4B | ||
| Q4 24 | $848.1M | $1.2B | ||
| Q3 24 | $909.3M | $1.7B | ||
| Q2 24 | $910.1M | $1.8B | ||
| Q1 24 | $915.4M | $1.4B |
净利润ATRCWH
| Q4 25 | $74.3M | $-109.1M | ||
| Q3 25 | $127.9M | $-40.4M | ||
| Q2 25 | $111.7M | $30.2M | ||
| Q1 25 | $78.8M | $-12.3M | ||
| Q4 24 | $100.9M | $-59.5M | ||
| Q3 24 | $100.0M | $5.5M | ||
| Q2 24 | $90.5M | $9.8M | ||
| Q1 24 | $83.1M | $-22.3M |
毛利率ATRCWH
| Q4 25 | — | 28.8% | ||
| Q3 25 | — | 28.6% | ||
| Q2 25 | — | 30.0% | ||
| Q1 25 | — | 30.4% | ||
| Q4 24 | — | 31.3% | ||
| Q3 24 | — | 28.9% | ||
| Q2 24 | — | 30.3% | ||
| Q1 24 | — | 29.5% |
营业利润率ATRCWH
| Q4 25 | 11.0% | -4.3% | ||
| Q3 25 | 14.2% | 4.4% | ||
| Q2 25 | 14.9% | 6.6% | ||
| Q1 25 | 12.8% | 1.5% | ||
| Q4 24 | 14.2% | -1.3% | ||
| Q3 24 | 15.2% | 3.7% | ||
| Q2 24 | 13.8% | 5.3% | ||
| Q1 24 | 12.2% | 0.3% |
净利率ATRCWH
| Q4 25 | 7.7% | -9.3% | ||
| Q3 25 | 13.3% | -2.2% | ||
| Q2 25 | 11.6% | 1.5% | ||
| Q1 25 | 8.9% | -0.9% | ||
| Q4 24 | 11.9% | -4.9% | ||
| Q3 24 | 11.0% | 0.3% | ||
| Q2 24 | 9.9% | 0.5% | ||
| Q1 24 | 9.1% | -1.6% |
每股收益（稀释后）ATRCWH
| Q4 25 | $1.13 | — | ||
| Q3 25 | $1.92 | — | ||
| Q2 25 | $1.67 | — | ||
| Q1 25 | $1.17 | — | ||
| Q4 24 | $1.48 | — | ||
| Q3 24 | $1.48 | — | ||
| Q2 24 | $1.34 | — | ||
| Q1 24 | $1.23 | — |
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 | $409.5M | $215.0M |
| 总债务越低越好 | $1.1B | $1.5B |
| 股东权益账面价值 | $2.7B | $228.6M |
| 总资产 | $5.3B | $5.0B |
| 负债/权益比越低杠杆越低 | 0.43× | 6.44× |
8季度趋势，按日历期对齐
现金及短期投资ATRCWH
| Q4 25 | $409.5M | $215.0M | ||
| Q3 25 | $264.8M | $230.5M | ||
| Q2 25 | $169.8M | $118.1M | ||
| Q1 25 | $136.8M | $20.9M | ||
| Q4 24 | $226.2M | $208.4M | ||
| Q3 24 | $327.9M | $28.4M | ||
| Q2 24 | $223.9M | $23.7M | ||
| Q1 24 | $201.1M | $29.7M |
总债务ATRCWH
| Q4 25 | $1.1B | $1.5B | ||
| Q3 25 | $546.0M | $1.5B | ||
| Q2 25 | $535.1M | $1.5B | ||
| Q1 25 | $561.2M | $1.5B | ||
| Q4 24 | $688.1M | $1.5B | ||
| Q3 24 | $822.7M | $1.5B | ||
| Q2 24 | $681.5M | $1.5B | ||
| Q1 24 | $680.4M | $1.6B |
股东权益ATRCWH
| Q4 25 | $2.7B | $228.6M | ||
| Q3 25 | $2.8B | $296.2M | ||
| Q2 25 | $2.7B | $340.5M | ||
| Q1 25 | $2.5B | $310.5M | ||
| Q4 24 | $2.5B | $326.6M | ||
| Q3 24 | $2.5B | $151.6M | ||
| Q2 24 | $2.4B | $149.7M | ||
| Q1 24 | $2.3B | $142.8M |
总资产ATRCWH
| Q4 25 | $5.3B | $5.0B | ||
| Q3 25 | $5.1B | $5.0B | ||
| Q2 25 | $4.9B | $5.2B | ||
| Q1 25 | $4.5B | $5.1B | ||
| Q4 24 | $4.4B | $4.9B | ||
| Q3 24 | $4.6B | $4.7B | ||
| Q2 24 | $4.5B | $5.0B | ||
| Q1 24 | $4.4B | $5.1B |
负债/权益比ATRCWH
| Q4 25 | 0.43× | 6.44× | ||
| Q3 25 | 0.20× | 5.00× | ||
| Q2 25 | 0.20× | 4.42× | ||
| Q1 25 | 0.22× | 4.87× | ||
| Q4 24 | 0.28× | 4.64× | ||
| Q3 24 | 0.32× | 10.09× | ||
| Q2 24 | 0.28× | 10.28× | ||
| Q1 24 | 0.29× | 11.00× |
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 | $183.7M | $-227.2M |
| 自由现金流经营现金流 - 资本支出 | $96.9M | — |
| 自由现金流率自由现金流/营收 | 10.1% | — |
| 资本支出强度资本支出/营收 | 9.0% | — |
| 现金转化率经营现金流/净利润 | 2.47× | — |
| 过去12个月自由现金流最近4个季度 | $299.6M | — |
8季度趋势，按日历期对齐
经营现金流ATRCWH
| Q4 25 | $183.7M | $-227.2M | ||
| Q3 25 | $177.6M | $139.8M | ||
| Q2 25 | $126.0M | $187.9M | ||
| Q1 25 | $82.7M | $-232.5M | ||
| Q4 24 | $178.2M | $-163.4M | ||
| Q3 24 | $229.3M | $324.2M | ||
| Q2 24 | $143.6M | $152.3M | ||
| Q1 24 | $92.3M | $-68.0M |
自由现金流ATRCWH
| Q4 25 | $96.9M | — | ||
| Q3 25 | $114.3M | — | ||
| Q2 25 | $62.5M | — | ||
| Q1 25 | $25.9M | — | ||
| Q4 24 | $112.2M | — | ||
| Q3 24 | $162.7M | — | ||
| Q2 24 | $75.4M | — | ||
| Q1 24 | $16.7M | — |
自由现金流率ATRCWH
| Q4 25 | 10.1% | — | ||
| Q3 25 | 11.9% | — | ||
| Q2 25 | 6.5% | — | ||
| Q1 25 | 2.9% | — | ||
| Q4 24 | 13.2% | — | ||
| Q3 24 | 17.9% | — | ||
| Q2 24 | 8.3% | — | ||
| Q1 24 | 1.8% | — |
资本支出强度ATRCWH
| Q4 25 | 9.0% | — | ||
| Q3 25 | 6.6% | — | ||
| Q2 25 | 6.6% | — | ||
| Q1 25 | 6.4% | — | ||
| Q4 24 | 7.8% | — | ||
| Q3 24 | 7.3% | — | ||
| Q2 24 | 7.5% | — | ||
| Q1 24 | 8.3% | — |
现金转化率ATRCWH
| Q4 25 | 2.47× | — | ||
| Q3 25 | 1.39× | — | ||
| Q2 25 | 1.13× | 6.22× | ||
| Q1 25 | 1.05× | — | ||
| Q4 24 | 1.77× | — | ||
| Q3 24 | 2.29× | 58.93× | ||
| Q2 24 | 1.59× | 15.59× | ||
| Q1 24 | 1.11× | — |
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
ATR
| Pharma Segment | $833.1M | 87% |
| Other | $129.6M | 13% |
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% |
