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CDW Corporation（CDW）与RYDER SYSTEM INC（R）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RYDER SYSTEM INC的1.8倍（$5.5B vs $3.1B），CDW Corporation同比增速更快（6.3% vs 1.0%），CDW Corporation自由现金流更多（$395.9M vs $273.0M），过去两年CDW Corporation的营收复合增速更高（6.3% vs -0.9%）
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。
Ryder System Inc.是美国专业运输物流服务商，总部位于佛罗里达州科勒尔盖布尔斯，业务覆盖美国及英国，核心业务包含卡车租赁、车队管理、供应链及运输管理，同时提供车辆维保、二手车销售、专业司机派遣、电商履约与最后一公里配送等多元服务。
CDW vs R — 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5.3%
1.0%
自由现金流更多
CDW
多$122.9M
$273.0M
两年增速更快
CDW
近两年复合增速
-0.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $5.5B | $3.1B |
| 净利润 | — | $93.0M |
| 毛利率 | 22.8% | — |
| 营业利润率 | 7.8% | — |
| 净利率 | — | 3.0% |
| 营收同比 | 6.3% | 1.0% |
| 净利润同比 | — | -5.1% |
| 每股收益（稀释后） | $2.13 | $2.34 |
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CDWR
| Q1 26 | — | $3.1B | ||
| Q4 25 | $5.5B | $3.2B | ||
| Q3 25 | $5.7B | $3.2B | ||
| Q2 25 | $6.0B | $3.2B | ||
| Q1 25 | $5.2B | $3.1B | ||
| Q4 24 | $5.2B | $3.2B | ||
| Q3 24 | $5.5B | $3.2B | ||
| Q2 24 | $5.4B | $3.2B |
净利润CDWR
| Q1 26 | — | $93.0M | ||
| Q4 25 | — | $132.0M | ||
| Q3 25 | $291.0M | $138.0M | ||
| Q2 25 | $271.2M | $131.0M | ||
| Q1 25 | $224.9M | $98.0M | ||
| Q4 24 | — | $135.0M | ||
| Q3 24 | $316.4M | $142.0M | ||
| Q2 24 | $281.1M | $127.0M |
毛利率CDWR
| Q1 26 | — | — | ||
| 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CDWR
| Q1 26 | — | — | ||
| Q4 25 | 7.8% | 5.6% | ||
| Q3 25 | 7.7% | 6.0% | ||
| Q2 25 | 7.0% | 5.8% | ||
| Q1 25 | 7.0% | 4.3% | ||
| Q4 24 | 7.9% | 5.7% | ||
| Q3 24 | 8.7% | 5.9% | ||
| Q2 24 | 8.0% | 5.6% |
净利率CDWR
| Q1 26 | — | 3.0% | ||
| Q4 25 | — | 4.2% | ||
| Q3 25 | 5.1% | 4.4% | ||
| Q2 25 | 4.5% | 4.1% | ||
| Q1 25 | 4.3% | 3.1% | ||
| Q4 24 | — | 4.2% | ||
| Q3 24 | 5.7% | 4.5% | ||
| Q2 24 | 5.2% | 4.0% |
每股收益（稀释后）CDWR
| Q1 26 | — | $2.34 | ||
| Q4 25 | $2.13 | $3.22 | ||
| Q3 25 | $2.21 | $3.32 | ||
| Q2 25 | $2.05 | $3.13 | ||
| Q1 25 | $1.69 | $2.27 | ||
| Q4 24 | $1.97 | $3.09 | ||
| Q3 24 | $2.34 | $3.24 | ||
| Q2 24 | $2.07 | $2.84 |
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 | $182.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.6B | $2.9B |
| 总资产 | $16.0B | — |
| 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CDWR
| Q1 26 | — | $182.0M | ||
| Q4 25 | $618.7M | $198.0M | ||
| Q3 25 | $452.9M | $189.0M | ||
| Q2 25 | $481.0M | $180.0M | ||
| Q1 25 | $688.1M | $151.0M | ||
| Q4 24 | $717.7M | $154.0M | ||
| Q3 24 | $1.2B | $162.0M | ||
| Q2 24 | $665.3M | $164.0M |
总债务CDWR
| Q1 26 | — | — | ||
| Q4 25 | — | $6.8B | ||
| Q3 25 | — | $7.3B | ||
| Q2 25 | — | $7.0B | ||
| Q1 25 | — | $6.7B | ||
| Q4 24 | — | $6.7B | ||
| Q3 24 | — | $6.6B | ||
| Q2 24 | — | $6.5B |
股东权益CDWR
| Q1 26 | — | $2.9B | ||
| Q4 25 | $2.6B | $3.1B | ||
| Q3 25 | $2.5B | $3.1B | ||
| Q2 25 | $2.5B | $3.1B | ||
| Q1 25 | $2.3B | $3.0B | ||
| Q4 24 | $2.4B | $3.1B | ||
| Q3 24 | $2.3B | $3.1B | ||
| Q2 24 | $2.2B | $3.1B |
总资产CDWR
| Q1 26 | — | — | ||
| Q4 25 | $16.0B | $16.4B | ||
| Q3 25 | $15.2B | $16.5B | ||
| Q2 25 | $15.3B | $16.5B | ||
| Q1 25 | $15.0B | $16.4B | ||
| Q4 24 | $14.7B | $16.7B | ||
| Q3 24 | $14.4B | $16.5B | ||
| Q2 24 | $13.6B | $16.4B |
负债/权益比CDWR
| Q1 26 | — | — | ||
| Q4 25 | — | 2.24× | ||
| Q3 25 | — | 2.35× | ||
| Q2 25 | — | 2.27× | ||
| Q1 25 | — | 2.21× | ||
| Q4 24 | — | 2.14× | ||
| Q3 24 | — | 2.17× | ||
| Q2 24 | — | 2.09× |
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 | $583.0M |
| 自由现金流经营现金流 - 资本支出 | $395.9M | $273.0M |
| 自由现金流率自由现金流/营收 | 7.2% | 8.7% |
| 资本支出强度资本支出/营收 | 0.7% | 13.7% |
| 现金转化率经营现金流/净利润 | — | 6.27× |
| 过去12个月自由现金流最近4个季度 | $1.1B | $595.0M |
8季度趋势，按日历期对齐
经营现金流CDWR
| Q1 26 | — | $583.0M | ||
| Q4 25 | $433.8M | $749.0M | ||
| Q3 25 | $328.3M | $442.0M | ||
| Q2 25 | $155.9M | $752.0M | ||
| Q1 25 | $287.2M | $651.0M | ||
| Q4 24 | $345.3M | $558.0M | ||
| Q3 24 | $342.1M | $629.0M | ||
| Q2 24 | $149.9M | $552.0M |
自由现金流CDWR
| Q1 26 | — | $273.0M | ||
| Q4 25 | $395.9M | $344.0M | ||
| Q3 25 | $298.5M | $-85.0M | ||
| Q2 25 | $133.4M | $63.0M | ||
| Q1 25 | $260.3M | $137.0M | ||
| Q4 24 | $316.7M | $-201.0M | ||
| Q3 24 | $308.5M | $30.0M | ||
| Q2 24 | $119.0M | $-87.0M |
自由现金流率CDWR
| Q1 26 | — | 8.7% | ||
| Q4 25 | 7.2% | 10.8% | ||
| Q3 25 | 5.2% | -2.7% | ||
| Q2 25 | 2.2% | 2.0% | ||
| Q1 25 | 5.0% | 4.4% | ||
| Q4 24 | 6.1% | -6.3% | ||
| Q3 24 | 5.6% | 0.9% | ||
| Q2 24 | 2.2% | -2.7% |
资本支出强度CDWR
| Q1 26 | — | 13.7% | ||
| Q4 25 | 0.7% | 12.8% | ||
| Q3 25 | 0.5% | 16.6% | ||
| Q2 25 | 0.4% | 21.6% | ||
| Q1 25 | 0.5% | 16.4% | ||
| Q4 24 | 0.6% | 23.8% | ||
| Q3 24 | 0.6% | 18.9% | ||
| Q2 24 | 0.6% | 20.1% |
现金转化率CDWR
| Q1 26 | — | 6.27× | ||
| Q4 25 | — | 5.67× | ||
| Q3 25 | 1.13× | 3.20× | ||
| Q2 25 | 0.57× | 5.74× | ||
| Q1 25 | 1.28× | 6.64× | ||
| Q4 24 | — | 4.13× | ||
| Q3 24 | 1.08× | 4.43× | ||
| Q2 24 | 0.53× | 4.35× |
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
R
| Fleet Management Solutions | $1.5B | 47% |
| ChoiceLease | $878.0M | 28% |
| Dedicated Transportation Solutions | $553.0M | 18% |
| Commercial rental | $211.0M | 7% |
