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嘉年华集团（CCL）与CDW Corporation（CDW）财务数据对比。点击上方公司名可切换其他公司
嘉年华集团的季度营收约是CDW Corporation的1.1倍（$6.3B vs $5.5B），嘉年华集团同比增速更快（6.6% vs 6.3%），CDW Corporation自由现金流更多（$395.9M vs $12.0M），过去两年嘉年华集团的营收复合增速更高（8.2% vs 6.3%）
嘉年华集团是全球规模最大的休闲旅游集团，核心业务为邮轮运营，旗下拥有多个全球知名邮轮品牌，每年服务数百万乘客，提供覆盖住宿、餐饮、娱乐、岸上观光的一站式度假体验，航线遍布全球热门目的地。
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。
CCL vs CDW — 直观对比
营收规模更大
CCL
是对方的1.1倍
$5.5B
营收增速更快
CCL
高出0.4%
6.3%
自由现金流更多
CDW
多$383.9M
$12.0M
两年增速更快
CCL
近两年复合增速
6.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $6.3B | $5.5B |
| 净利润 | $421.0M | — |
| 毛利率 | — | 22.8% |
| 营业利润率 | 11.6% | 7.8% |
| 净利率 | 6.6% | — |
| 营收同比 | 6.6% | 6.3% |
| 净利润同比 | 38.9% | — |
| 每股收益（稀释后） | $0.33 | $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CCLCDW
| Q4 25 | $6.3B | $5.5B | ||
| Q3 25 | $8.2B | $5.7B | ||
| Q2 25 | $6.3B | $6.0B | ||
| Q1 25 | $5.8B | $5.2B | ||
| Q4 24 | $5.9B | $5.2B | ||
| Q3 24 | $7.9B | $5.5B | ||
| Q2 24 | $5.8B | $5.4B | ||
| Q1 24 | $5.4B | $4.9B |
净利润CCLCDW
| Q4 25 | $421.0M | — | ||
| Q3 25 | $1.9B | $291.0M | ||
| Q2 25 | $565.0M | $271.2M | ||
| Q1 25 | $-78.0M | $224.9M | ||
| Q4 24 | $303.0M | — | ||
| Q3 24 | $1.7B | $316.4M | ||
| Q2 24 | $92.0M | $281.1M | ||
| Q1 24 | $-214.0M | $216.1M |
毛利率CCLCDW
| Q4 25 | — | 22.8% | ||
| Q3 25 | 46.2% | 21.9% | ||
| Q2 25 | 38.6% | 20.8% | ||
| Q1 25 | 35.2% | 21.6% | ||
| Q4 24 | 35.5% | 22.3% | ||
| Q3 24 | 45.5% | 21.8% | ||
| Q2 24 | 34.3% | 21.8% | ||
| Q1 24 | 31.5% | 21.8% |
营业利润率CCLCDW
| Q4 25 | 11.6% | 7.8% | ||
| Q3 25 | 27.9% | 7.7% | ||
| Q2 25 | 14.8% | 7.0% | ||
| Q1 25 | 9.3% | 7.0% | ||
| Q4 24 | 9.4% | 7.9% | ||
| Q3 24 | 27.6% | 8.7% | ||
| Q2 24 | 9.7% | 8.0% | ||
| Q1 24 | 5.1% | 6.7% |
净利率CCLCDW
| Q4 25 | 6.6% | — | ||
| Q3 25 | 22.7% | 5.1% | ||
| Q2 25 | 8.9% | 4.5% | ||
| Q1 25 | -1.3% | 4.3% | ||
| Q4 24 | 5.1% | — | ||
| Q3 24 | 22.0% | 5.7% | ||
| Q2 24 | 1.6% | 5.2% | ||
| Q1 24 | -4.0% | 4.4% |
每股收益（稀释后）CCLCDW
| Q4 25 | $0.33 | $2.13 | ||
| Q3 25 | $1.33 | $2.21 | ||
| Q2 25 | $0.42 | $2.05 | ||
| Q1 25 | $-0.06 | $1.69 | ||
| Q4 24 | $0.28 | $1.97 | ||
| Q3 24 | $1.26 | $2.34 | ||
| Q2 24 | $0.07 | $2.07 | ||
| Q1 24 | $-0.17 | $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 | $1.9B | $618.7M |
| 总债务越低越好 | $27.4B | — |
| 股东权益账面价值 | $12.3B | $2.6B |
| 总资产 | $51.7B | $16.0B |
| 负债/权益比越低杠杆越低 | 2.23× | — |
8季度趋势，按日历期对齐
现金及短期投资CCLCDW
| Q4 25 | $1.9B | $618.7M | ||
| Q3 25 | $1.8B | $452.9M | ||
| Q2 25 | $2.1B | $481.0M | ||
| Q1 25 | $833.0M | $688.1M | ||
| Q4 24 | $1.2B | $717.7M | ||
| Q3 24 | $1.5B | $1.2B | ||
| Q2 24 | $1.6B | $665.3M | ||
| Q1 24 | $2.2B | $803.8M |
总债务CCLCDW
| Q4 25 | $27.4B | — | ||
| Q3 25 | $27.2B | — | ||
| Q2 25 | $28.0B | — | ||
| Q1 25 | $27.7B | — | ||
| Q4 24 | $28.2B | — | ||
| Q3 24 | $29.6B | — | ||
| Q2 24 | $30.2B | — | ||
| Q1 24 | $31.6B | — |
股东权益CCLCDW
| Q4 25 | $12.3B | $2.6B | ||
| Q3 25 | $11.9B | $2.5B | ||
| Q2 25 | $10.0B | $2.5B | ||
| Q1 25 | $9.2B | $2.3B | ||
| Q4 24 | $9.3B | $2.4B | ||
| Q3 24 | $8.6B | $2.3B | ||
| Q2 24 | $6.8B | $2.2B | ||
| Q1 24 | $6.7B | $2.1B |
总资产CCLCDW
| Q4 25 | $51.7B | $16.0B | ||
| Q3 25 | $50.8B | $15.2B | ||
| Q2 25 | $51.2B | $15.3B | ||
| Q1 25 | $48.5B | $15.0B | ||
| Q4 24 | $49.1B | $14.7B | ||
| Q3 24 | $49.8B | $14.4B | ||
| Q2 24 | $49.6B | $13.6B | ||
| Q1 24 | $49.8B | $13.2B |
负债/权益比CCLCDW
| Q4 25 | 2.23× | — | ||
| Q3 25 | 2.28× | — | ||
| Q2 25 | 2.79× | — | ||
| Q1 25 | 3.02× | — | ||
| Q4 24 | 3.05× | — | ||
| Q3 24 | 3.45× | — | ||
| Q2 24 | 4.43× | — | ||
| Q1 24 | 4.72× | — |
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 | $1.5B | $433.8M |
| 自由现金流经营现金流 - 资本支出 | $12.0M | $395.9M |
| 自由现金流率自由现金流/营收 | 0.2% | 7.2% |
| 资本支出强度资本支出/营收 | 23.8% | 0.7% |
| 现金转化率经营现金流/净利润 | 3.61× | — |
| 过去12个月自由现金流最近4个季度 | $2.6B | $1.1B |
8季度趋势，按日历期对齐
经营现金流CCLCDW
| Q4 25 | $1.5B | $433.8M | ||
| Q3 25 | $1.4B | $328.3M | ||
| Q2 25 | $2.4B | $155.9M | ||
| Q1 25 | $925.0M | $287.2M | ||
| Q4 24 | $911.0M | $345.3M | ||
| Q3 24 | $1.2B | $342.1M | ||
| Q2 24 | $2.0B | $149.9M | ||
| Q1 24 | $1.8B | $440.0M |
自由现金流CCLCDW
| Q4 25 | $12.0M | $395.9M | ||
| Q3 25 | $736.0M | $298.5M | ||
| Q2 25 | $1.5B | $133.4M | ||
| Q1 25 | $318.0M | $260.3M | ||
| Q4 24 | $319.0M | $316.7M | ||
| Q3 24 | $628.0M | $308.5M | ||
| Q2 24 | $720.0M | $119.0M | ||
| Q1 24 | $-370.0M | $410.5M |
自由现金流率CCLCDW
| Q4 25 | 0.2% | 7.2% | ||
| Q3 25 | 9.0% | 5.2% | ||
| Q2 25 | 24.4% | 2.2% | ||
| Q1 25 | 5.5% | 5.0% | ||
| Q4 24 | 5.4% | 6.1% | ||
| Q3 24 | 8.0% | 5.6% | ||
| Q2 24 | 12.5% | 2.2% | ||
| Q1 24 | -6.8% | 8.4% |
资本支出强度CCLCDW
| Q4 25 | 23.8% | 0.7% | ||
| Q3 25 | 7.9% | 0.5% | ||
| Q2 25 | 13.4% | 0.4% | ||
| Q1 25 | 10.4% | 0.5% | ||
| Q4 24 | 10.0% | 0.6% | ||
| Q3 24 | 7.3% | 0.6% | ||
| Q2 24 | 22.8% | 0.6% | ||
| Q1 24 | 39.5% | 0.6% |
现金转化率CCLCDW
| Q4 25 | 3.61× | — | ||
| Q3 25 | 0.75× | 1.13× | ||
| Q2 25 | 4.23× | 0.57× | ||
| Q1 25 | — | 1.28× | ||
| Q4 24 | 3.01× | — | ||
| Q3 24 | 0.69× | 1.08× | ||
| Q2 24 | 22.16× | 0.53× | ||
| Q1 24 | — | 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
CCL
| Cruise Passenger Ticket | $4.1B | 64% |
| Other | $2.2B | 34% |
| Cruise | $90.0M | 1% |
| Tour And Other | $29.0M | 0% |
CDW
暂无分部数据
