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CDW Corporation（CDW）与高知特（CTSH）财务数据对比。点击上方公司名可切换其他公司
CDW Corporation的季度营收约是高知特的1.0倍（$5.5B vs $5.3B），CDW Corporation同比增速更快（6.3% vs 4.9%），高知特自由现金流更多（$781.0M vs $395.9M），过去两年CDW Corporation的营收复合增速更高（6.3% vs 5.8%）
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。
高知特是美国跨国信息技术咨询与外包服务商，1994年成立于印度金奈，最初是邓白氏旗下内部技术部门，1996年起对外开展服务，现总部位于美国新泽西州蒂内克，为纳斯达克100指数成分股，股票代码CTSH。
CDW vs CTSH — 直观对比
营收规模更大
CDW
是对方的1.0倍
$5.3B
营收增速更快
CDW
高出1.3%
4.9%
自由现金流更多
CTSH
多$385.1M
$395.9M
两年增速更快
CDW
近两年复合增速
5.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $5.5B | $5.3B |
| 净利润 | — | $648.0M |
| 毛利率 | 22.8% | — |
| 营业利润率 | 7.8% | 16.0% |
| 净利率 | — | 12.2% |
| 营收同比 | 6.3% | 4.9% |
| 净利润同比 | — | 18.7% |
| 每股收益（稀释后） | $2.13 | $1.35 |
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CDWCTSH
| Q4 25 | $5.5B | $5.3B | ||
| Q3 25 | $5.7B | $5.4B | ||
| Q2 25 | $6.0B | $5.2B | ||
| Q1 25 | $5.2B | $5.1B | ||
| Q4 24 | $5.2B | $5.1B | ||
| Q3 24 | $5.5B | $5.0B | ||
| Q2 24 | $5.4B | $4.8B | ||
| Q1 24 | $4.9B | $4.8B |
净利润CDWCTSH
| Q4 25 | — | $648.0M | ||
| Q3 25 | $291.0M | $274.0M | ||
| Q2 25 | $271.2M | $645.0M | ||
| Q1 25 | $224.9M | $663.0M | ||
| Q4 24 | — | $546.0M | ||
| Q3 24 | $316.4M | $582.0M | ||
| Q2 24 | $281.1M | $566.0M | ||
| Q1 24 | $216.1M | $546.0M |
毛利率CDWCTSH
| Q4 25 | 22.8% | — | ||
| Q3 25 | 21.9% | — | ||
| Q2 25 | 20.8% | — | ||
| Q1 25 | 21.6% | — | ||
| Q4 24 | 22.3% | — | ||
| Q3 24 | 21.8% | — | ||
| Q2 24 | 21.8% | — | ||
| Q1 24 | 21.8% | — |
营业利润率CDWCTSH
| Q4 25 | 7.8% | 16.0% | ||
| Q3 25 | 7.7% | 16.0% | ||
| Q2 25 | 7.0% | 15.6% | ||
| Q1 25 | 7.0% | 16.7% | ||
| Q4 24 | 7.9% | 14.8% | ||
| Q3 24 | 8.7% | 14.6% | ||
| Q2 24 | 8.0% | 14.6% | ||
| Q1 24 | 6.7% | 14.6% |
净利率CDWCTSH
| Q4 25 | — | 12.2% | ||
| Q3 25 | 5.1% | 5.1% | ||
| Q2 25 | 4.5% | 12.3% | ||
| Q1 25 | 4.3% | 13.0% | ||
| Q4 24 | — | 10.7% | ||
| Q3 24 | 5.7% | 11.5% | ||
| Q2 24 | 5.2% | 11.7% | ||
| Q1 24 | 4.4% | 11.5% |
每股收益（稀释后）CDWCTSH
| Q4 25 | $2.13 | $1.35 | ||
| Q3 25 | $2.21 | $0.56 | ||
| Q2 25 | $2.05 | $1.31 | ||
| Q1 25 | $1.69 | $1.34 | ||
| Q4 24 | $1.97 | $1.10 | ||
| Q3 24 | $2.34 | $1.17 | ||
| Q2 24 | $2.07 | $1.14 | ||
| Q1 24 | $1.59 | $1.10 |
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 | $618.7M | $1.9B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.6B | $15.0B |
| 总资产 | $16.0B | $20.7B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资CDWCTSH
| Q4 25 | $618.7M | $1.9B | ||
| Q3 25 | $452.9M | $2.4B | ||
| Q2 25 | $481.0M | $1.8B | ||
| Q1 25 | $688.1M | $2.0B | ||
| Q4 24 | $717.7M | $2.2B | ||
| Q3 24 | $1.2B | $2.0B | ||
| Q2 24 | $665.3M | $2.2B | ||
| Q1 24 | $803.8M | $2.2B |
股东权益CDWCTSH
| Q4 25 | $2.6B | $15.0B | ||
| Q3 25 | $2.5B | $14.9B | ||
| Q2 25 | $2.5B | $15.3B | ||
| Q1 25 | $2.3B | $14.9B | ||
| Q4 24 | $2.4B | $14.4B | ||
| Q3 24 | $2.3B | $14.5B | ||
| Q2 24 | $2.2B | $13.9B | ||
| Q1 24 | $2.1B | $13.5B |
总资产CDWCTSH
| Q4 25 | $16.0B | $20.7B | ||
| Q3 25 | $15.2B | $20.1B | ||
| Q2 25 | $15.3B | $20.2B | ||
| Q1 25 | $15.0B | $20.0B | ||
| Q4 24 | $14.7B | $20.0B | ||
| Q3 24 | $14.4B | $20.2B | ||
| Q2 24 | $13.6B | $18.6B | ||
| Q1 24 | $13.2B | $18.4B |
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 | $433.8M | $858.0M |
| 自由现金流经营现金流 - 资本支出 | $395.9M | $781.0M |
| 自由现金流率自由现金流/营收 | 7.2% | 14.6% |
| 资本支出强度资本支出/营收 | 0.7% | 1.4% |
| 现金转化率经营现金流/净利润 | — | 1.32× |
| 过去12个月自由现金流最近4个季度 | $1.1B | $2.6B |
8季度趋势，按日历期对齐
经营现金流CDWCTSH
| Q4 25 | $433.8M | $858.0M | ||
| Q3 25 | $328.3M | $1.2B | ||
| Q2 25 | $155.9M | $398.0M | ||
| Q1 25 | $287.2M | $400.0M | ||
| Q4 24 | $345.3M | $920.0M | ||
| Q3 24 | $342.1M | $847.0M | ||
| Q2 24 | $149.9M | $262.0M | ||
| Q1 24 | $440.0M | $95.0M |
自由现金流CDWCTSH
| Q4 25 | $395.9M | $781.0M | ||
| Q3 25 | $298.5M | $1.2B | ||
| Q2 25 | $133.4M | $331.0M | ||
| Q1 25 | $260.3M | $323.0M | ||
| Q4 24 | $316.7M | $837.0M | ||
| Q3 24 | $308.5M | $791.0M | ||
| Q2 24 | $119.0M | $183.0M | ||
| Q1 24 | $410.5M | $16.0M |
自由现金流率CDWCTSH
| Q4 25 | 7.2% | 14.6% | ||
| Q3 25 | 5.2% | 21.4% | ||
| Q2 25 | 2.2% | 6.3% | ||
| Q1 25 | 5.0% | 6.3% | ||
| Q4 24 | 6.1% | 16.5% | ||
| Q3 24 | 5.6% | 15.7% | ||
| Q2 24 | 2.2% | 3.8% | ||
| Q1 24 | 8.4% | 0.3% |
资本支出强度CDWCTSH
| Q4 25 | 0.7% | 1.4% | ||
| Q3 25 | 0.5% | 1.2% | ||
| Q2 25 | 0.4% | 1.3% | ||
| Q1 25 | 0.5% | 1.5% | ||
| Q4 24 | 0.6% | 1.6% | ||
| Q3 24 | 0.6% | 1.1% | ||
| Q2 24 | 0.6% | 1.6% | ||
| Q1 24 | 0.6% | 1.7% |
现金转化率CDWCTSH
| Q4 25 | — | 1.32× | ||
| Q3 25 | 1.13× | 4.48× | ||
| Q2 25 | 0.57× | 0.62× | ||
| Q1 25 | 1.28× | 0.60× | ||
| Q4 24 | — | 1.68× | ||
| Q3 24 | 1.08× | 1.46× | ||
| Q2 24 | 0.53× | 0.46× | ||
| Q1 24 | 2.04× | 0.17× |
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
CDW
暂无分部数据
CTSH
| Health Sciences | $1.4B | 25% |
| Financial Services | $1.1B | 21% |
| Consulting And Technology Services | $944.0M | 18% |
| Productsand Resources | $921.0M | 17% |
| Outsourcing Services | $677.0M | 13% |
| Transaction Or Volume Based | $308.0M | 6% |
