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CDW Corporation（CDW）与Eversource Energy（ES）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Eversource Energy的1.6倍（$5.5B vs $3.4B），Eversource Energy同比增速更快（13.4% vs 6.3%），CDW Corporation自由现金流更多（$395.9M vs $-67.3M），过去两年CDW Corporation的营收复合增速更高（6.3% vs 0.6%）
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。
Eversource Energy是位列财富500强的上市能源企业，总部位于美国马萨诸塞州斯普林菲尔德，在康涅狄格州哈特福德、马萨诸塞州波士顿均设有办公据点，旗下多家受监管子公司为康涅狄格、马萨诸塞、新罕布什尔三州约400万用户提供零售电力、天然气及供水服务。
CDW vs ES — 直观对比
营收规模更大
CDW
是对方的1.6倍
$3.4B
营收增速更快
ES
高出7.2%
6.3%
自由现金流更多
CDW
多$463.2M
$-67.3M
两年增速更快
CDW
近两年复合增速
0.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $5.5B | $3.4B |
| 净利润 | — | $423.2M |
| 毛利率 | 22.8% | — |
| 营业利润率 | 7.8% | 21.1% |
| 净利率 | — | 12.6% |
| 营收同比 | 6.3% | 13.4% |
| 净利润同比 | — | 468.8% |
| 每股收益（稀释后） | $2.13 | $1.11 |
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CDWES
| Q4 25 | $5.5B | $3.4B | ||
| Q3 25 | $5.7B | $3.2B | ||
| Q2 25 | $6.0B | $2.8B | ||
| Q1 25 | $5.2B | $4.1B | ||
| Q4 24 | $5.2B | $3.0B | ||
| Q3 24 | $5.5B | $3.1B | ||
| Q2 24 | $5.4B | $2.5B | ||
| Q1 24 | $4.9B | $3.3B |
净利润CDWES
| Q4 25 | — | $423.2M | ||
| Q3 25 | $291.0M | $369.4M | ||
| Q2 25 | $271.2M | $354.6M | ||
| Q1 25 | $224.9M | $552.7M | ||
| Q4 24 | — | $74.4M | ||
| Q3 24 | $316.4M | $-116.2M | ||
| Q2 24 | $281.1M | $337.2M | ||
| Q1 24 | $216.1M | $523.7M |
毛利率CDWES
| 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CDWES
| Q4 25 | 7.8% | 21.1% | ||
| Q3 25 | 7.7% | 21.4% | ||
| Q2 25 | 7.0% | 23.4% | ||
| Q1 25 | 7.0% | 22.5% | ||
| Q4 24 | 7.9% | 11.7% | ||
| Q3 24 | 8.7% | 20.0% | ||
| Q2 24 | 8.0% | 23.8% | ||
| Q1 24 | 6.7% | 25.4% |
净利率CDWES
| Q4 25 | — | 12.6% | ||
| Q3 25 | 5.1% | 11.5% | ||
| Q2 25 | 4.5% | 12.5% | ||
| Q1 25 | 4.3% | 13.4% | ||
| Q4 24 | — | 2.5% | ||
| Q3 24 | 5.7% | -3.8% | ||
| Q2 24 | 5.2% | 13.3% | ||
| Q1 24 | 4.4% | 15.7% |
每股收益（稀释后）CDWES
| Q4 25 | $2.13 | $1.11 | ||
| Q3 25 | $2.21 | $0.99 | ||
| Q2 25 | $2.05 | $0.96 | ||
| Q1 25 | $1.69 | $1.50 | ||
| Q4 24 | $1.97 | $0.16 | ||
| Q3 24 | $2.34 | $-0.33 | ||
| Q2 24 | $2.07 | $0.95 | ||
| Q1 24 | $1.59 | $1.49 |
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 | $135.4M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.6B | $16.2B |
| 总资产 | $16.0B | $63.8B |
| 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CDWES
| Q4 25 | $618.7M | $135.4M | ||
| Q3 25 | $452.9M | $259.3M | ||
| Q2 25 | $481.0M | $343.7M | ||
| Q1 25 | $688.1M | $111.4M | ||
| Q4 24 | $717.7M | $26.7M | ||
| Q3 24 | $1.2B | $97.9M | ||
| Q2 24 | $665.3M | — | ||
| Q1 24 | $803.8M | — |
股东权益CDWES
| Q4 25 | $2.6B | $16.2B | ||
| Q3 25 | $2.5B | $16.0B | ||
| Q2 25 | $2.5B | $15.7B | ||
| Q1 25 | $2.3B | $15.3B | ||
| Q4 24 | $2.4B | $15.0B | ||
| Q3 24 | $2.3B | $15.0B | ||
| Q2 24 | $2.2B | $14.8B | ||
| Q1 24 | $2.1B | $14.5B |
总资产CDWES
| Q4 25 | $16.0B | $63.8B | ||
| Q3 25 | $15.2B | $61.7B | ||
| Q2 25 | $15.3B | $61.0B | ||
| Q1 25 | $15.0B | $60.2B | ||
| Q4 24 | $14.7B | $59.6B | ||
| Q3 24 | $14.4B | $58.6B | ||
| Q2 24 | $13.6B | $58.4B | ||
| Q1 24 | $13.2B | $57.3B |
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 | $916.1M |
| 自由现金流经营现金流 - 资本支出 | $395.9M | $-67.3M |
| 自由现金流率自由现金流/营收 | 7.2% | -2.0% |
| 资本支出强度资本支出/营收 | 0.7% | 29.2% |
| 现金转化率经营现金流/净利润 | — | 2.16× |
| 过去12个月自由现金流最近4个季度 | $1.1B | $-45.1M |
8季度趋势，按日历期对齐
经营现金流CDWES
| Q4 25 | $433.8M | $916.1M | ||
| Q3 25 | $328.3M | $1.1B | ||
| Q2 25 | $155.9M | $1.1B | ||
| Q1 25 | $287.2M | $1.0B | ||
| Q4 24 | $345.3M | $642.1M | ||
| Q3 24 | $342.1M | $555.6M | ||
| Q2 24 | $149.9M | $670.7M | ||
| Q1 24 | $440.0M | $291.3M |
自由现金流CDWES
| Q4 25 | $395.9M | $-67.3M | ||
| Q3 25 | $298.5M | $-26.3M | ||
| Q2 25 | $133.4M | $15.3M | ||
| Q1 25 | $260.3M | $33.2M | ||
| Q4 24 | $316.7M | $-546.5M | ||
| Q3 24 | $308.5M | $-515.4M | ||
| Q2 24 | $119.0M | $-400.8M | ||
| Q1 24 | $410.5M | $-858.1M |
自由现金流率CDWES
| Q4 25 | 7.2% | -2.0% | ||
| Q3 25 | 5.2% | -0.8% | ||
| Q2 25 | 2.2% | 0.5% | ||
| Q1 25 | 5.0% | 0.8% | ||
| Q4 24 | 6.1% | -18.4% | ||
| Q3 24 | 5.6% | -16.8% | ||
| Q2 24 | 2.2% | -15.8% | ||
| Q1 24 | 8.4% | -25.7% |
资本支出强度CDWES
| Q4 25 | 0.7% | 29.2% | ||
| Q3 25 | 0.5% | 35.0% | ||
| Q2 25 | 0.4% | 36.7% | ||
| Q1 25 | 0.5% | 24.5% | ||
| Q4 24 | 0.6% | 40.0% | ||
| Q3 24 | 0.6% | 35.0% | ||
| Q2 24 | 0.6% | 42.3% | ||
| Q1 24 | 0.6% | 34.5% |
现金转化率CDWES
| Q4 25 | — | 2.16× | ||
| Q3 25 | 1.13× | 2.98× | ||
| Q2 25 | 0.57× | 2.98× | ||
| Q1 25 | 1.28× | 1.88× | ||
| Q4 24 | — | 8.63× | ||
| Q3 24 | 1.08× | — | ||
| Q2 24 | 0.53× | 1.99× | ||
| Q1 24 | 2.04× | 0.56× |
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
ES
| Residential | $1.2B | 35% |
| Commercial | $789.0M | 23% |
| Eversource Electric Transmission | $573.8M | 17% |
| Wholesale Transmission Revenue | $570.0M | 17% |
| Industrial | $102.6M | 3% |
| Water Distribution Segment | $58.4M | 2% |
| Eversource Water | $56.3M | 2% |
| Other Revenue Adjustmentsfrom Contractswith Customers | $25.9M | 1% |
