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CDW Corporation（CDW）与DoorDash（DASH）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DoorDash的1.4倍（$5.7B vs $4.0B），DoorDash净利率更高（7.1% vs 4.1%，领先2.9%），CDW Corporation同比增速更快（9.2% vs 8.3%），DoorDash自由现金流更多（$355.0M vs $248.4M），过去两年DoorDash的营收复合增速更高（23.9% vs 2.3%）
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。
DoorDash是美国头部在线订餐及配送平台，也是美国规模最大的外卖配送服务商，占据当地外卖配送市场56%的份额，便民配送品类市场占比更是高达60%。截至2020年12月31日，平台合作商户超45万家，服务消费者超2000万，注册配送员数量突破100万。
CDW vs DASH — 直观对比
营收规模更大
CDW
是对方的1.4倍
$4.0B
营收增速更快
CDW
高出0.9%
8.3%
净利率更高
DASH
高出2.9%
4.1%
自由现金流更多
DASH
多$106.6M
$248.4M
两年增速更快
DASH
近两年复合增速
2.3%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $5.7B | $4.0B |
| 净利润 | $235.4M | $285.0M |
| 毛利率 | 21.0% | 39.8% |
| 营业利润率 | 6.6% | 3.7% |
| 净利率 | 4.1% | 7.1% |
| 营收同比 | 9.2% | 8.3% |
| 净利润同比 | 4.7% | 47.7% |
| 每股收益（稀释后） | $1.82 | $0.42 |
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CDWDASH
| Q1 26 | $5.7B | $4.0B | ||
| Q4 25 | $5.5B | $4.0B | ||
| Q3 25 | $5.7B | $3.4B | ||
| Q2 25 | $6.0B | $3.3B | ||
| Q1 25 | $5.2B | $3.0B | ||
| Q4 24 | $5.2B | $2.9B | ||
| Q3 24 | $5.5B | $2.7B | ||
| Q2 24 | $5.4B | $2.6B |
净利润CDWDASH
| Q1 26 | $235.4M | $285.0M | ||
| Q4 25 | — | $213.0M | ||
| Q3 25 | $291.0M | $244.0M | ||
| Q2 25 | $271.2M | $285.0M | ||
| Q1 25 | $224.9M | $193.0M | ||
| Q4 24 | — | $141.0M | ||
| Q3 24 | $316.4M | $162.0M | ||
| Q2 24 | $281.1M | $-157.0M |
毛利率CDWDASH
| Q1 26 | 21.0% | 39.8% | ||
| 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CDWDASH
| Q1 26 | 6.6% | 3.7% | ||
| Q4 25 | 7.8% | 3.7% | ||
| Q3 25 | 7.7% | 7.5% | ||
| Q2 25 | 7.0% | 5.0% | ||
| Q1 25 | 7.0% | 5.1% | ||
| Q4 24 | 7.9% | 4.1% | ||
| Q3 24 | 8.7% | 4.0% | ||
| Q2 24 | 8.0% | -7.6% |
净利率CDWDASH
| Q1 26 | 4.1% | 7.1% | ||
| Q4 25 | — | 5.4% | ||
| Q3 25 | 5.1% | 7.1% | ||
| Q2 25 | 4.5% | 8.7% | ||
| Q1 25 | 4.3% | 6.4% | ||
| Q4 24 | — | 4.9% | ||
| Q3 24 | 5.7% | 6.0% | ||
| Q2 24 | 5.2% | -6.0% |
每股收益（稀释后）CDWDASH
| Q1 26 | $1.82 | $0.42 | ||
| Q4 25 | $2.13 | $0.49 | ||
| Q3 25 | $2.21 | $0.55 | ||
| Q2 25 | $2.05 | $0.65 | ||
| Q1 25 | $1.69 | $0.44 | ||
| Q4 24 | $1.97 | $0.35 | ||
| Q3 24 | $2.34 | $0.38 | ||
| Q2 24 | $2.07 | $-0.38 |
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 | $578.6M | $5.5B |
| 总债务越低越好 | $1.0B | — |
| 股东权益账面价值 | $2.6B | $10.2B |
| 总资产 | $16.5B | $19.7B |
| 负债/权益比越低杠杆越低 | 0.39× | — |
8季度趋势，按日历期对齐
现金及短期投资CDWDASH
| Q1 26 | $578.6M | $5.5B | ||
| Q4 25 | $618.7M | $4.4B | ||
| Q3 25 | $452.9M | $3.3B | ||
| Q2 25 | $481.0M | $3.9B | ||
| Q1 25 | $688.1M | $4.5B | ||
| Q4 24 | $717.7M | $4.0B | ||
| Q3 24 | $1.2B | $3.7B | ||
| Q2 24 | $665.3M | $3.4B |
总债务CDWDASH
| Q1 26 | $1.0B | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益CDWDASH
| Q1 26 | $2.6B | $10.2B | ||
| Q4 25 | $2.6B | $10.0B | ||
| Q3 25 | $2.5B | $9.5B | ||
| Q2 25 | $2.5B | $8.9B | ||
| Q1 25 | $2.3B | $8.4B | ||
| Q4 24 | $2.4B | $7.8B | ||
| Q3 24 | $2.3B | $7.6B | ||
| Q2 24 | $2.2B | $7.2B |
总资产CDWDASH
| Q1 26 | $16.5B | $19.7B | ||
| Q4 25 | $16.0B | $19.7B | ||
| Q3 25 | $15.2B | $18.0B | ||
| Q2 25 | $15.3B | $16.9B | ||
| Q1 25 | $15.0B | $13.6B | ||
| Q4 24 | $14.7B | $12.8B | ||
| Q3 24 | $14.4B | $12.3B | ||
| Q2 24 | $13.6B | $11.8B |
负债/权益比CDWDASH
| Q1 26 | 0.39× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $274.8M | $504.0M |
| 自由现金流经营现金流 - 资本支出 | $248.4M | $355.0M |
| 自由现金流率自由现金流/营收 | 4.4% | 8.8% |
| 资本支出强度资本支出/营收 | 0.5% | — |
| 现金转化率经营现金流/净利润 | 1.17× | 1.77× |
| 过去12个月自由现金流最近4个季度 | $1.1B | $2.0B |
8季度趋势，按日历期对齐
经营现金流CDWDASH
| Q1 26 | $274.8M | $504.0M | ||
| Q4 25 | $433.8M | $421.0M | ||
| Q3 25 | $328.3M | $871.0M | ||
| Q2 25 | $155.9M | $504.0M | ||
| Q1 25 | $287.2M | $635.0M | ||
| Q4 24 | $345.3M | $518.0M | ||
| Q3 24 | $342.1M | $531.0M | ||
| Q2 24 | $149.9M | $530.0M |
自由现金流CDWDASH
| Q1 26 | $248.4M | $355.0M | ||
| Q4 25 | $395.9M | $367.0M | ||
| Q3 25 | $298.5M | $808.0M | ||
| Q2 25 | $133.4M | $438.0M | ||
| Q1 25 | $260.3M | $561.0M | ||
| Q4 24 | $316.7M | $486.0M | ||
| Q3 24 | $308.5M | $499.0M | ||
| Q2 24 | $119.0M | $507.0M |
自由现金流率CDWDASH
| Q1 26 | 4.4% | 8.8% | ||
| Q4 25 | 7.2% | 9.3% | ||
| Q3 25 | 5.2% | 23.4% | ||
| Q2 25 | 2.2% | 13.3% | ||
| Q1 25 | 5.0% | 18.5% | ||
| Q4 24 | 6.1% | 16.9% | ||
| Q3 24 | 5.6% | 18.4% | ||
| Q2 24 | 2.2% | 19.3% |
资本支出强度CDWDASH
| Q1 26 | 0.5% | — | ||
| Q4 25 | 0.7% | 1.4% | ||
| Q3 25 | 0.5% | 1.8% | ||
| Q2 25 | 0.4% | 2.0% | ||
| Q1 25 | 0.5% | 2.4% | ||
| Q4 24 | 0.6% | 1.1% | ||
| Q3 24 | 0.6% | 1.2% | ||
| Q2 24 | 0.6% | 0.9% |
现金转化率CDWDASH
| Q1 26 | 1.17× | 1.77× | ||
| Q4 25 | — | 1.98× | ||
| Q3 25 | 1.13× | 3.57× | ||
| Q2 25 | 0.57× | 1.77× | ||
| Q1 25 | 1.28× | 3.29× | ||
| Q4 24 | — | 3.67× | ||
| Q3 24 | 1.08× | 3.28× | ||
| 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
| Corporate | $2.4B | 42% |
| Other | $802.5M | 14% |
| Healthcare | $766.7M | 13% |
| Education | $675.0M | 12% |
| Government | $632.9M | 11% |
| Financial Services | $428.4M | 8% |
DASH
暂无分部数据
