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CDW Corporation（CDW）与J.B. Hunt（JBHT）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J.B. Hunt的1.8倍（$5.5B vs $3.1B），CDW Corporation同比增速更快（6.3% vs -1.6%），CDW Corporation自由现金流更多（$395.9M vs $251.3M），过去两年CDW Corporation的营收复合增速更高（6.3% vs 2.6%）
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。
J.B.亨特运输服务公司是总部位于美国阿肯色州洛厄尔的运输物流企业，1961年8月10日由约翰尼·布莱恩·亨特与乔内尔·亨特在阿肯色州创立。截至1983年，公司已成为美国第80大卡车运输企业，营收达6.2347亿美元，当时运营550台牵引车、1049辆挂车，拥有约1050名员工。
CDW vs JBHT — 直观对比
营收规模更大
CDW
是对方的1.8倍
$3.1B
营收增速更快
CDW
高出7.8%
-1.6%
自由现金流更多
CDW
多$144.6M
$251.3M
两年增速更快
CDW
近两年复合增速
2.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $5.5B | $3.1B |
| 净利润 | — | $181.1M |
| 毛利率 | 22.8% | — |
| 营业利润率 | 7.8% | 8.0% |
| 净利率 | — | 5.8% |
| 营收同比 | 6.3% | -1.6% |
| 净利润同比 | — | 16.5% |
| 每股收益（稀释后） | $2.13 | $1.88 |
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CDWJBHT
| Q4 25 | $5.5B | $3.1B | ||
| Q3 25 | $5.7B | $3.1B | ||
| Q2 25 | $6.0B | $2.9B | ||
| Q1 25 | $5.2B | $2.9B | ||
| Q4 24 | $5.2B | $3.1B | ||
| Q3 24 | $5.5B | $3.1B | ||
| Q2 24 | $5.4B | $2.9B | ||
| Q1 24 | $4.9B | $2.9B |
净利润CDWJBHT
| Q4 25 | — | $181.1M | ||
| Q3 25 | $291.0M | $170.8M | ||
| Q2 25 | $271.2M | $128.6M | ||
| Q1 25 | $224.9M | $117.7M | ||
| Q4 24 | — | $155.5M | ||
| Q3 24 | $316.4M | $152.1M | ||
| Q2 24 | $281.1M | $135.9M | ||
| Q1 24 | $216.1M | $127.5M |
毛利率CDWJBHT
| 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CDWJBHT
| Q4 25 | 7.8% | 8.0% | ||
| Q3 25 | 7.7% | 7.9% | ||
| Q2 25 | 7.0% | 6.7% | ||
| Q1 25 | 7.0% | 6.1% | ||
| Q4 24 | 7.9% | 6.6% | ||
| Q3 24 | 8.7% | 7.3% | ||
| Q2 24 | 8.0% | 7.0% | ||
| Q1 24 | 6.7% | 6.6% |
净利率CDWJBHT
| Q4 25 | — | 5.8% | ||
| Q3 25 | 5.1% | 5.6% | ||
| Q2 25 | 4.5% | 4.4% | ||
| Q1 25 | 4.3% | 4.0% | ||
| Q4 24 | — | 4.9% | ||
| Q3 24 | 5.7% | 5.0% | ||
| Q2 24 | 5.2% | 4.6% | ||
| Q1 24 | 4.4% | 4.3% |
每股收益（稀释后）CDWJBHT
| Q4 25 | $2.13 | $1.88 | ||
| Q3 25 | $2.21 | $1.76 | ||
| Q2 25 | $2.05 | $1.31 | ||
| Q1 25 | $1.69 | $1.17 | ||
| Q4 24 | $1.97 | $1.53 | ||
| Q3 24 | $2.34 | $1.49 | ||
| Q2 24 | $2.07 | $1.32 | ||
| Q1 24 | $1.59 | $1.22 |
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 | $17.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.6B | $3.6B |
| 总资产 | $16.0B | $7.9B |
| 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CDWJBHT
| Q4 25 | $618.7M | $17.3M | ||
| Q3 25 | $452.9M | $52.3M | ||
| Q2 25 | $481.0M | $50.9M | ||
| Q1 25 | $688.1M | $43.4M | ||
| Q4 24 | $717.7M | $47.0M | ||
| Q3 24 | $1.2B | $120.0M | ||
| Q2 24 | $665.3M | $53.5M | ||
| Q1 24 | $803.8M | $64.2M |
总债务CDWJBHT
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $977.7M | ||
| Q3 24 | — | $1.0B | ||
| Q2 24 | — | $1.5B | ||
| Q1 24 | — | $1.4B |
股东权益CDWJBHT
| Q4 25 | $2.6B | $3.6B | ||
| Q3 25 | $2.5B | $3.6B | ||
| Q2 25 | $2.5B | $3.7B | ||
| Q1 25 | $2.3B | $3.9B | ||
| Q4 24 | $2.4B | $4.0B | ||
| Q3 24 | $2.3B | $4.0B | ||
| Q2 24 | $2.2B | $4.1B | ||
| Q1 24 | $2.1B | $4.2B |
总资产CDWJBHT
| Q4 25 | $16.0B | $7.9B | ||
| Q3 25 | $15.2B | $8.1B | ||
| Q2 25 | $15.3B | $8.2B | ||
| Q1 25 | $15.0B | $8.3B | ||
| Q4 24 | $14.7B | $8.3B | ||
| Q3 24 | $14.4B | $8.3B | ||
| Q2 24 | $13.6B | $8.4B | ||
| Q1 24 | $13.2B | $8.4B |
负债/权益比CDWJBHT
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.24× | ||
| Q3 24 | — | 0.26× | ||
| Q2 24 | — | 0.36× | ||
| Q1 24 | — | 0.33× |
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 | $385.6M |
| 自由现金流经营现金流 - 资本支出 | $395.9M | $251.3M |
| 自由现金流率自由现金流/营收 | 7.2% | 8.1% |
| 资本支出强度资本支出/营收 | 0.7% | 4.3% |
| 现金转化率经营现金流/净利润 | — | 2.13× |
| 过去12个月自由现金流最近4个季度 | $1.1B | $947.6M |
8季度趋势，按日历期对齐
经营现金流CDWJBHT
| Q4 25 | $433.8M | $385.6M | ||
| Q3 25 | $328.3M | $486.4M | ||
| Q2 25 | $155.9M | $402.1M | ||
| Q1 25 | $287.2M | $404.2M | ||
| Q4 24 | $345.3M | $317.6M | ||
| Q3 24 | $342.1M | $338.5M | ||
| Q2 24 | $149.9M | $360.6M | ||
| Q1 24 | $440.0M | $466.5M |
自由现金流CDWJBHT
| Q4 25 | $395.9M | $251.3M | ||
| Q3 25 | $298.5M | $352.4M | ||
| Q2 25 | $133.4M | $185.6M | ||
| Q1 25 | $260.3M | $158.4M | ||
| Q4 24 | $316.7M | $93.3M | ||
| Q3 24 | $308.5M | $163.1M | ||
| Q2 24 | $119.0M | $98.2M | ||
| Q1 24 | $410.5M | $263.1M |
自由现金流率CDWJBHT
| Q4 25 | 7.2% | 8.1% | ||
| Q3 25 | 5.2% | 11.5% | ||
| Q2 25 | 2.2% | 6.3% | ||
| Q1 25 | 5.0% | 5.4% | ||
| Q4 24 | 6.1% | 3.0% | ||
| Q3 24 | 5.6% | 5.3% | ||
| Q2 24 | 2.2% | 3.4% | ||
| Q1 24 | 8.4% | 8.9% |
资本支出强度CDWJBHT
| Q4 25 | 0.7% | 4.3% | ||
| Q3 25 | 0.5% | 4.4% | ||
| Q2 25 | 0.4% | 7.4% | ||
| Q1 25 | 0.5% | 8.4% | ||
| Q4 24 | 0.6% | 7.1% | ||
| Q3 24 | 0.6% | 5.7% | ||
| Q2 24 | 0.6% | 9.0% | ||
| Q1 24 | 0.6% | 6.9% |
现金转化率CDWJBHT
| Q4 25 | — | 2.13× | ||
| Q3 25 | 1.13× | 2.85× | ||
| Q2 25 | 0.57× | 3.13× | ||
| Q1 25 | 1.28× | 3.43× | ||
| Q4 24 | — | 2.04× | ||
| Q3 24 | 1.08× | 2.23× | ||
| Q2 24 | 0.53× | 2.65× | ||
| Q1 24 | 2.04× | 3.66× |
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
JBHT
| JBI | $1.5B | 50% |
| DCS | $842.8M | 27% |
| ICS | $304.5M | 10% |
| FMS | $206.3M | 7% |
| JBT | $200.7M | 6% |
