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CDW Corporation（CDW）与信安金融集团（PFG）财务数据对比。点击上方公司名可切换其他公司
CDW Corporation的季度营收约是信安金融集团的1.2倍（$5.5B vs $4.6B），CDW Corporation同比增速更快（6.3% vs -3.7%），过去两年CDW Corporation的营收复合增速更高（6.3% 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。
信安金融集团（股票代码：PFG）是总部位于美国艾奥瓦州得梅因的全球性金融服务企业，核心业务涵盖投资管理、保险服务两大板块，在全球多个区域开展业务，为机构客户和个人用户提供专业定制化的金融解决方案，在行业内拥有较高知名度。
CDW vs PFG — 直观对比
营收规模更大
CDW
是对方的1.2倍
$4.6B
营收增速更快
CDW
高出10.0%
-3.7%
两年增速更快
CDW
近两年复合增速
6.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $5.5B | $4.6B |
| 净利润 | — | $517.0M |
| 毛利率 | 22.8% | — |
| 营业利润率 | 7.8% | — |
| 净利率 | — | 11.3% |
| 营收同比 | 6.3% | -3.7% |
| 净利润同比 | — | -42.9% |
| 每股收益（稀释后） | $2.13 | $2.30 |
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CDWPFG
| Q4 25 | $5.5B | $4.6B | ||
| Q3 25 | $5.7B | $3.7B | ||
| Q2 25 | $6.0B | $3.7B | ||
| Q1 25 | $5.2B | $3.7B | ||
| Q4 24 | $5.2B | $4.8B | ||
| Q3 24 | $5.5B | $3.0B | ||
| Q2 24 | $5.4B | $4.3B | ||
| Q1 24 | $4.9B | $4.1B |
净利润CDWPFG
| Q4 25 | — | $517.0M | ||
| Q3 25 | $291.0M | $213.8M | ||
| Q2 25 | $271.2M | $406.2M | ||
| Q1 25 | $224.9M | $48.1M | ||
| Q4 24 | — | $905.4M | ||
| Q3 24 | $316.4M | $-220.0M | ||
| Q2 24 | $281.1M | $353.1M | ||
| Q1 24 | $216.1M | $532.5M |
毛利率CDWPFG
| 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CDWPFG
| Q4 25 | 7.8% | — | ||
| Q3 25 | 7.7% | — | ||
| Q2 25 | 7.0% | — | ||
| Q1 25 | 7.0% | — | ||
| Q4 24 | 7.9% | — | ||
| Q3 24 | 8.7% | — | ||
| Q2 24 | 8.0% | — | ||
| Q1 24 | 6.7% | — |
净利率CDWPFG
| Q4 25 | — | 11.3% | ||
| Q3 25 | 5.1% | 5.8% | ||
| Q2 25 | 4.5% | 11.1% | ||
| Q1 25 | 4.3% | 1.3% | ||
| Q4 24 | — | 19.1% | ||
| Q3 24 | 5.7% | -7.3% | ||
| Q2 24 | 5.2% | 8.2% | ||
| Q1 24 | 4.4% | 13.1% |
每股收益（稀释后）CDWPFG
| Q4 25 | $2.13 | $2.30 | ||
| Q3 25 | $2.21 | $0.95 | ||
| Q2 25 | $2.05 | $1.79 | ||
| Q1 25 | $1.69 | $0.21 | ||
| Q4 24 | $1.97 | $3.92 | ||
| Q3 24 | $2.34 | $-0.95 | ||
| Q2 24 | $2.07 | $1.49 | ||
| Q1 24 | $1.59 | $2.22 |
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 | $4.4B |
| 总债务越低越好 | — | $3.9B |
| 股东权益账面价值 | $2.6B | $11.9B |
| 总资产 | $16.0B | $341.4B |
| 负债/权益比越低杠杆越低 | — | 0.33× |
8季度趋势，按日历期对齐
现金及短期投资CDWPFG
| Q4 25 | $618.7M | $4.4B | ||
| Q3 25 | $452.9M | $5.1B | ||
| Q2 25 | $481.0M | $3.7B | ||
| Q1 25 | $688.1M | $3.9B | ||
| Q4 24 | $717.7M | $4.2B | ||
| Q3 24 | $1.2B | $6.2B | ||
| Q2 24 | $665.3M | $4.8B | ||
| Q1 24 | $803.8M | $4.2B |
总债务CDWPFG
| Q4 25 | — | $3.9B | ||
| Q3 25 | — | $3.9B | ||
| Q2 25 | — | $3.9B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | — | $4.0B | ||
| Q3 24 | — | $3.9B | ||
| Q2 24 | — | $3.9B | ||
| Q1 24 | — | $3.9B |
股东权益CDWPFG
| Q4 25 | $2.6B | $11.9B | ||
| Q3 25 | $2.5B | $11.7B | ||
| Q2 25 | $2.5B | $11.4B | ||
| Q1 25 | $2.3B | $11.2B | ||
| Q4 24 | $2.4B | $11.1B | ||
| Q3 24 | $2.3B | $11.2B | ||
| Q2 24 | $2.2B | $11.0B | ||
| Q1 24 | $2.1B | $11.2B |
总资产CDWPFG
| Q4 25 | $16.0B | $341.4B | ||
| Q3 25 | $15.2B | $334.5B | ||
| Q2 25 | $15.3B | $323.1B | ||
| Q1 25 | $15.0B | $313.0B | ||
| Q4 24 | $14.7B | $313.7B | ||
| Q3 24 | $14.4B | $322.9B | ||
| Q2 24 | $13.6B | $308.8B | ||
| Q1 24 | $13.2B | $308.7B |
负债/权益比CDWPFG
| Q4 25 | — | 0.33× | ||
| Q3 25 | — | 0.34× | ||
| Q2 25 | — | 0.34× | ||
| Q1 25 | — | 0.39× | ||
| Q4 24 | — | 0.36× | ||
| Q3 24 | — | 0.35× | ||
| Q2 24 | — | 0.36× | ||
| Q1 24 | — | 0.35× |
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 | $1.7B |
| 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 | — | 3.37× |
| 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CDWPFG
| Q4 25 | $433.8M | $1.7B | ||
| Q3 25 | $328.3M | $1.0B | ||
| Q2 25 | $155.9M | $811.9M | ||
| Q1 25 | $287.2M | $977.3M | ||
| Q4 24 | $345.3M | $1.5B | ||
| Q3 24 | $342.1M | $1.1B | ||
| Q2 24 | $149.9M | $1.4B | ||
| Q1 24 | $440.0M | $584.2M |
自由现金流CDWPFG
| Q4 25 | $395.9M | — | ||
| Q3 25 | $298.5M | — | ||
| Q2 25 | $133.4M | — | ||
| Q1 25 | $260.3M | — | ||
| Q4 24 | $316.7M | — | ||
| Q3 24 | $308.5M | — | ||
| Q2 24 | $119.0M | — | ||
| Q1 24 | $410.5M | — |
自由现金流率CDWPFG
| Q4 25 | 7.2% | — | ||
| Q3 25 | 5.2% | — | ||
| Q2 25 | 2.2% | — | ||
| Q1 25 | 5.0% | — | ||
| Q4 24 | 6.1% | — | ||
| Q3 24 | 5.6% | — | ||
| Q2 24 | 2.2% | — | ||
| Q1 24 | 8.4% | — |
资本支出强度CDWPFG
| Q4 25 | 0.7% | — | ||
| Q3 25 | 0.5% | — | ||
| Q2 25 | 0.4% | — | ||
| Q1 25 | 0.5% | — | ||
| Q4 24 | 0.6% | — | ||
| Q3 24 | 0.6% | — | ||
| Q2 24 | 0.6% | — | ||
| Q1 24 | 0.6% | — |
现金转化率CDWPFG
| Q4 25 | — | 3.37× | ||
| Q3 25 | 1.13× | 4.70× | ||
| Q2 25 | 0.57× | 2.00× | ||
| Q1 25 | 1.28× | 20.32× | ||
| Q4 24 | — | 1.61× | ||
| Q3 24 | 1.08× | — | ||
| Q2 24 | 0.53× | 4.05× | ||
| Q1 24 | 2.04× | 1.10× |
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
PFG
| Segment Retirement And Income Solutions | $1.6B | 36% |
| Segment Benefits And Protection | $1.1B | 23% |
| Other | $582.8M | 13% |
| Segment Principal Asset Management | $465.6M | 10% |
| Subsegment Investment Management | $449.4M | 10% |
| Administrative Service | $152.2M | 3% |
| Subsegment International Pension | $91.2M | 2% |
| Segment Corporate | $73.0M | 2% |
| Subsegment Life Insurance | $26.1M | 1% |
| Financial Service Other | $25.1M | 1% |
| Residential Mortgage | $7.4M | 0% |
| Subsegment Specialty Benefits | $3.7M | 0% |
| Deposit Account | $3.4M | 0% |
| Commission Income | $1.8M | 0% |
