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CDW Corporation（CDW）与凯撒娱乐（CZR）财务数据对比。点击上方公司名可切换其他公司
CDW Corporation的季度营收约是凯撒娱乐的1.9倍（$5.5B vs $2.9B），CDW Corporation同比增速更快（6.3% vs 2.7%），过去两年CDW Corporation的营收复合增速更高（6.3% vs 0.7%）
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。
凯撒娱乐前身为埃尔拉多度假村公司，是总部位于美国内华达州里诺的酒店博彩娱乐集团。2020年7月20日公司收购原凯撒娱乐集团后更为现名，目前运营超过50处物业，业务覆盖酒店、博彩、休闲娱乐等多个领域。
CDW vs CZR — 直观对比
营收规模更大
CDW
是对方的1.9倍
$2.9B
营收增速更快
CDW
高出3.5%
2.7%
两年增速更快
CDW
近两年复合增速
0.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $5.5B | $2.9B |
| 净利润 | — | $-83.0M |
| 毛利率 | 22.8% | — |
| 营业利润率 | 7.8% | 17.4% |
| 净利率 | — | -2.9% |
| 营收同比 | 6.3% | 2.7% |
| 净利润同比 | — | 15.3% |
| 每股收益（稀释后） | $2.13 | $-0.48 |
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CDWCZR
| Q1 26 | — | $2.9B | ||
| Q4 25 | $5.5B | $2.9B | ||
| Q3 25 | $5.7B | $2.9B | ||
| Q2 25 | $6.0B | $2.9B | ||
| Q1 25 | $5.2B | $2.8B | ||
| Q4 24 | $5.2B | $2.8B | ||
| Q3 24 | $5.5B | $2.9B | ||
| Q2 24 | $5.4B | $2.8B |
净利润CDWCZR
| Q1 26 | — | $-83.0M | ||
| Q4 25 | — | $-250.0M | ||
| Q3 25 | $291.0M | $-55.0M | ||
| Q2 25 | $271.2M | $-82.0M | ||
| Q1 25 | $224.9M | $-115.0M | ||
| Q4 24 | — | $11.0M | ||
| Q3 24 | $316.4M | $-9.0M | ||
| Q2 24 | $281.1M | $-122.0M |
毛利率CDWCZR
| Q1 26 | — | — | ||
| 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% | — |
营业利润率CDWCZR
| Q1 26 | — | 17.4% | ||
| Q4 25 | 7.8% | 11.4% | ||
| Q3 25 | 7.7% | 17.9% | ||
| Q2 25 | 7.0% | 18.1% | ||
| Q1 25 | 7.0% | 17.5% | ||
| Q4 24 | 7.9% | 23.9% | ||
| Q3 24 | 8.7% | 22.4% | ||
| Q2 24 | 8.0% | 17.9% |
净利率CDWCZR
| Q1 26 | — | -2.9% | ||
| Q4 25 | — | -8.6% | ||
| Q3 25 | 5.1% | -1.9% | ||
| Q2 25 | 4.5% | -2.8% | ||
| Q1 25 | 4.3% | -4.1% | ||
| Q4 24 | — | 0.4% | ||
| Q3 24 | 5.7% | -0.3% | ||
| Q2 24 | 5.2% | -4.3% |
每股收益（稀释后）CDWCZR
| Q1 26 | — | $-0.48 | ||
| Q4 25 | $2.13 | $-1.22 | ||
| Q3 25 | $2.21 | $-0.27 | ||
| Q2 25 | $2.05 | $-0.39 | ||
| Q1 25 | $1.69 | $-0.54 | ||
| Q4 24 | $1.97 | $0.04 | ||
| Q3 24 | $2.34 | $-0.04 | ||
| Q2 24 | $2.07 | $-0.56 |
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 | $867.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.6B | — |
| 总资产 | $16.0B | — |
| 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CDWCZR
| Q1 26 | — | $867.0M | ||
| Q4 25 | $618.7M | $887.0M | ||
| Q3 25 | $452.9M | $836.0M | ||
| Q2 25 | $481.0M | $982.0M | ||
| Q1 25 | $688.1M | $884.0M | ||
| Q4 24 | $717.7M | $866.0M | ||
| Q3 24 | $1.2B | $802.0M | ||
| Q2 24 | $665.3M | $830.0M |
总债务CDWCZR
| Q1 26 | — | — | ||
| Q4 25 | — | $11.9B | ||
| Q3 25 | — | $11.9B | ||
| Q2 25 | — | $12.3B | ||
| Q1 25 | — | $12.3B | ||
| Q4 24 | — | $12.3B | ||
| Q3 24 | — | $12.7B | ||
| Q2 24 | — | $12.4B |
股东权益CDWCZR
| Q1 26 | — | — | ||
| Q4 25 | $2.6B | $3.5B | ||
| Q3 25 | $2.5B | $3.8B | ||
| Q2 25 | $2.5B | $3.9B | ||
| Q1 25 | $2.3B | $4.1B | ||
| Q4 24 | $2.4B | $4.2B | ||
| Q3 24 | $2.3B | $4.2B | ||
| Q2 24 | $2.2B | $4.3B |
总资产CDWCZR
| Q1 26 | — | — | ||
| Q4 25 | $16.0B | $31.6B | ||
| Q3 25 | $15.2B | $31.9B | ||
| Q2 25 | $15.3B | $32.5B | ||
| Q1 25 | $15.0B | $32.4B | ||
| Q4 24 | $14.7B | $32.6B | ||
| Q3 24 | $14.4B | $33.0B | ||
| Q2 24 | $13.6B | $33.1B |
负债/权益比CDWCZR
| Q1 26 | — | — | ||
| Q4 25 | — | 3.40× | ||
| Q3 25 | — | 3.15× | ||
| Q2 25 | — | 3.15× | ||
| Q1 25 | — | 3.04× | ||
| Q4 24 | — | 2.96× | ||
| Q3 24 | — | 3.04× | ||
| Q2 24 | — | 2.89× |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $395.9M | — |
| 自由现金流率自由现金流/营收 | 7.2% | — |
| 资本支出强度资本支出/营收 | 0.7% | — |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $1.1B | — |
8季度趋势，按日历期对齐
经营现金流CDWCZR
| Q1 26 | — | — | ||
| Q4 25 | $433.8M | $304.0M | ||
| Q3 25 | $328.3M | $318.0M | ||
| Q2 25 | $155.9M | $462.0M | ||
| Q1 25 | $287.2M | $218.0M | ||
| Q4 24 | $345.3M | $309.0M | ||
| Q3 24 | $342.1M | $232.0M | ||
| Q2 24 | $149.9M | $454.0M |
自由现金流CDWCZR
| Q1 26 | — | — | ||
| Q4 25 | $395.9M | $147.0M | ||
| Q3 25 | $298.5M | $123.0M | ||
| Q2 25 | $133.4M | $232.0M | ||
| Q1 25 | $260.3M | $-5.0M | ||
| Q4 24 | $316.7M | $30.0M | ||
| Q3 24 | $308.5M | $-192.0M | ||
| Q2 24 | $119.0M | $125.0M |
自由现金流率CDWCZR
| Q1 26 | — | — | ||
| Q4 25 | 7.2% | 5.0% | ||
| Q3 25 | 5.2% | 4.3% | ||
| Q2 25 | 2.2% | 8.0% | ||
| Q1 25 | 5.0% | -0.2% | ||
| Q4 24 | 6.1% | 1.1% | ||
| Q3 24 | 5.6% | -6.7% | ||
| Q2 24 | 2.2% | 4.4% |
资本支出强度CDWCZR
| Q1 26 | — | — | ||
| Q4 25 | 0.7% | 5.4% | ||
| Q3 25 | 0.5% | 6.8% | ||
| Q2 25 | 0.4% | 7.9% | ||
| Q1 25 | 0.5% | 8.0% | ||
| Q4 24 | 0.6% | 10.0% | ||
| Q3 24 | 0.6% | 14.8% | ||
| Q2 24 | 0.6% | 11.6% |
现金转化率CDWCZR
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 1.13× | — | ||
| Q2 25 | 0.57× | — | ||
| Q1 25 | 1.28× | — | ||
| Q4 24 | — | 28.09× | ||
| Q3 24 | 1.08× | — | ||
| Q2 24 | 0.53× | — |
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
CZR
| Casino | $1.7B | 58% |
| Hotel | $487.0M | 17% |
| Food and beverage | $424.0M | 15% |
| Other | $293.0M | 10% |
