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CDW Corporation（CDW）与GXO Logistics, Inc.（GXO）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GXO Logistics, Inc.的1.6倍（$5.5B vs $3.5B），GXO Logistics, Inc.同比增速更快（7.9% vs 6.3%），CDW Corporation自由现金流更多（$395.9M vs $115.0M），过去两年GXO Logistics, Inc.的营收复合增速更高（19.5% vs 6.3%）
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。
GXO物流是总部位于美国康涅狄格州格林威治的全球化合同物流企业，为三十余个国家的蓝筹客户提供外包供应链管理、仓储及逆向物流服务，合作客户涵盖苹果、耐克、波音、惠而浦、雀巢等众多全球知名企业。
CDW vs GXO — 直观对比
营收规模更大
CDW
是对方的1.6倍
$3.5B
营收增速更快
GXO
高出1.6%
6.3%
自由现金流更多
CDW
多$280.9M
$115.0M
两年增速更快
GXO
近两年复合增速
6.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $5.5B | $3.5B |
| 净利润 | — | $43.0M |
| 毛利率 | 22.8% | — |
| 营业利润率 | 7.8% | 2.7% |
| 净利率 | — | 1.2% |
| 营收同比 | 6.3% | 7.9% |
| 净利润同比 | — | -57.0% |
| 每股收益（稀释后） | $2.13 | $0.35 |
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CDWGXO
| Q4 25 | $5.5B | $3.5B | ||
| Q3 25 | $5.7B | $3.4B | ||
| Q2 25 | $6.0B | $3.3B | ||
| Q1 25 | $5.2B | $3.0B | ||
| Q4 24 | $5.2B | $3.3B | ||
| Q3 24 | $5.5B | $3.2B | ||
| Q2 24 | $5.4B | $2.8B | ||
| Q1 24 | $4.9B | $2.5B |
净利润CDWGXO
| Q4 25 | — | $43.0M | ||
| Q3 25 | $291.0M | $59.0M | ||
| Q2 25 | $271.2M | $26.0M | ||
| Q1 25 | $224.9M | $-96.0M | ||
| Q4 24 | — | $100.0M | ||
| Q3 24 | $316.4M | $33.0M | ||
| Q2 24 | $281.1M | $38.0M | ||
| Q1 24 | $216.1M | $-37.0M |
毛利率CDWGXO
| 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CDWGXO
| Q4 25 | 7.8% | 2.7% | ||
| Q3 25 | 7.7% | 3.5% | ||
| Q2 25 | 7.0% | 2.7% | ||
| Q1 25 | 7.0% | -1.9% | ||
| Q4 24 | 7.9% | 3.1% | ||
| Q3 24 | 8.7% | 2.6% | ||
| Q2 24 | 8.0% | 2.6% | ||
| Q1 24 | 6.7% | -1.6% |
净利率CDWGXO
| Q4 25 | — | 1.2% | ||
| Q3 25 | 5.1% | 1.7% | ||
| Q2 25 | 4.5% | 0.8% | ||
| Q1 25 | 4.3% | -3.2% | ||
| Q4 24 | — | 3.1% | ||
| Q3 24 | 5.7% | 1.0% | ||
| Q2 24 | 5.2% | 1.3% | ||
| Q1 24 | 4.4% | -1.5% |
每股收益（稀释后）CDWGXO
| Q4 25 | $2.13 | $0.35 | ||
| Q3 25 | $2.21 | $0.51 | ||
| Q2 25 | $2.05 | $0.23 | ||
| Q1 25 | $1.69 | $-0.81 | ||
| Q4 24 | $1.97 | $0.83 | ||
| Q3 24 | $2.34 | $0.28 | ||
| Q2 24 | $2.07 | $0.32 | ||
| Q1 24 | $1.59 | $-0.31 |
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 | $854.0M |
| 总债务越低越好 | — | $2.6B |
| 股东权益账面价值 | $2.6B | $3.0B |
| 总资产 | $16.0B | $12.3B |
| 负债/权益比越低杠杆越低 | — | 0.88× |
8季度趋势，按日历期对齐
现金及短期投资CDWGXO
| Q4 25 | $618.7M | $854.0M | ||
| Q3 25 | $452.9M | $339.0M | ||
| Q2 25 | $481.0M | $205.0M | ||
| Q1 25 | $688.1M | $288.0M | ||
| Q4 24 | $717.7M | $413.0M | ||
| Q3 24 | $1.2B | $548.0M | ||
| Q2 24 | $665.3M | $469.0M | ||
| Q1 24 | $803.8M | $423.0M |
总债务CDWGXO
| Q4 25 | — | $2.6B | ||
| Q3 25 | — | $2.2B | ||
| Q2 25 | — | $2.6B | ||
| Q1 25 | — | $2.5B | ||
| Q4 24 | — | $2.5B | ||
| Q3 24 | — | $2.6B | ||
| Q2 24 | — | $2.6B | ||
| Q1 24 | — | $1.5B |
股东权益CDWGXO
| Q4 25 | $2.6B | $3.0B | ||
| Q3 25 | $2.5B | $3.0B | ||
| Q2 25 | $2.5B | $2.9B | ||
| Q1 25 | $2.3B | $2.9B | ||
| Q4 24 | $2.4B | $3.0B | ||
| Q3 24 | $2.3B | $3.1B | ||
| Q2 24 | $2.2B | $2.9B | ||
| Q1 24 | $2.1B | $2.9B |
总资产CDWGXO
| Q4 25 | $16.0B | $12.3B | ||
| Q3 25 | $15.2B | $11.9B | ||
| Q2 25 | $15.3B | $11.9B | ||
| Q1 25 | $15.0B | $11.3B | ||
| Q4 24 | $14.7B | $11.3B | ||
| Q3 24 | $14.4B | $11.9B | ||
| Q2 24 | $13.6B | $11.4B | ||
| Q1 24 | $13.2B | $9.4B |
负债/权益比CDWGXO
| Q4 25 | — | 0.88× | ||
| Q3 25 | — | 0.74× | ||
| Q2 25 | — | 0.88× | ||
| Q1 25 | — | 0.89× | ||
| Q4 24 | — | 0.84× | ||
| Q3 24 | — | 0.82× | ||
| Q2 24 | — | 0.88× | ||
| Q1 24 | — | 0.53× |
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 | $170.0M |
| 自由现金流经营现金流 - 资本支出 | $395.9M | $115.0M |
| 自由现金流率自由现金流/营收 | 7.2% | 3.3% |
| 资本支出强度资本支出/营收 | 0.7% | 1.6% |
| 现金转化率经营现金流/净利润 | — | 3.95× |
| 过去12个月自由现金流最近4个季度 | $1.1B | $110.0M |
8季度趋势，按日历期对齐
经营现金流CDWGXO
| Q4 25 | $433.8M | $170.0M | ||
| Q3 25 | $328.3M | $232.0M | ||
| Q2 25 | $155.9M | $3.0M | ||
| Q1 25 | $287.2M | $29.0M | ||
| Q4 24 | $345.3M | $186.0M | ||
| Q3 24 | $342.1M | $198.0M | ||
| Q2 24 | $149.9M | $115.0M | ||
| Q1 24 | $440.0M | $50.0M |
自由现金流CDWGXO
| Q4 25 | $395.9M | $115.0M | ||
| Q3 25 | $298.5M | $88.0M | ||
| Q2 25 | $133.4M | $-44.0M | ||
| Q1 25 | $260.3M | $-49.0M | ||
| Q4 24 | $316.7M | $82.0M | ||
| Q3 24 | $308.5M | $104.0M | ||
| Q2 24 | $119.0M | $27.0M | ||
| Q1 24 | $410.5M | $-23.0M |
自由现金流率CDWGXO
| Q4 25 | 7.2% | 3.3% | ||
| Q3 25 | 5.2% | 2.6% | ||
| Q2 25 | 2.2% | -1.3% | ||
| Q1 25 | 5.0% | -1.6% | ||
| Q4 24 | 6.1% | 2.5% | ||
| Q3 24 | 5.6% | 3.3% | ||
| Q2 24 | 2.2% | 0.9% | ||
| Q1 24 | 8.4% | -0.9% |
资本支出强度CDWGXO
| Q4 25 | 0.7% | 1.6% | ||
| Q3 25 | 0.5% | 4.2% | ||
| Q2 25 | 0.4% | 1.4% | ||
| Q1 25 | 0.5% | 2.6% | ||
| Q4 24 | 0.6% | 3.2% | ||
| Q3 24 | 0.6% | 3.0% | ||
| Q2 24 | 0.6% | 3.1% | ||
| Q1 24 | 0.6% | 3.0% |
现金转化率CDWGXO
| Q4 25 | — | 3.95× | ||
| Q3 25 | 1.13× | 3.93× | ||
| Q2 25 | 0.57× | 0.12× | ||
| Q1 25 | 1.28× | — | ||
| Q4 24 | — | 1.86× | ||
| Q3 24 | 1.08× | 6.00× | ||
| Q2 24 | 0.53× | 3.03× | ||
| 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
