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CDW Corporation（CDW）与Raymond James Financial（RJF）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Raymond James Financial的1.3倍（$5.5B vs $4.2B），CDW Corporation同比增速更快（6.3% vs 3.5%），CDW Corporation自由现金流更多（$395.9M vs $-56.0M），过去两年Raymond James Financial的营收复合增速更高（7.1% 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。
雷蒙德詹姆斯金融是美国跨国独立投资银行及金融服务机构，通过旗下子公司为个人、企业及市政主体提供多元金融服务，核心业务覆盖投资与财务规划、投资银行、资产管理等领域，总部位于美国佛罗里达州圣彼得堡。
CDW vs RJF — 直观对比
营收规模更大
CDW
是对方的1.3倍
$4.2B
营收增速更快
CDW
高出2.8%
3.5%
自由现金流更多
CDW
多$451.9M
$-56.0M
两年增速更快
RJF
近两年复合增速
6.3%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $5.5B | $4.2B |
| 净利润 | — | $563.0M |
| 毛利率 | 22.8% | — |
| 营业利润率 | 7.8% | — |
| 净利率 | — | 13.5% |
| 营收同比 | 6.3% | 3.5% |
| 净利润同比 | — | -6.2% |
| 每股收益（稀释后） | $2.13 | $2.79 |
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CDWRJF
| Q4 25 | $5.5B | $4.2B | ||
| Q3 25 | $5.7B | $4.2B | ||
| Q2 25 | $6.0B | $3.8B | ||
| Q1 25 | $5.2B | $3.8B | ||
| Q4 24 | $5.2B | $4.0B | ||
| Q3 24 | $5.5B | $4.0B | ||
| Q2 24 | $5.4B | $3.8B | ||
| Q1 24 | $4.9B | $3.6B |
净利润CDWRJF
| Q4 25 | — | $563.0M | ||
| Q3 25 | $291.0M | $604.0M | ||
| Q2 25 | $271.2M | $436.0M | ||
| Q1 25 | $224.9M | $495.0M | ||
| Q4 24 | — | $600.0M | ||
| Q3 24 | $316.4M | $602.0M | ||
| Q2 24 | $281.1M | $492.0M | ||
| Q1 24 | $216.1M | $476.0M |
毛利率CDWRJF
| 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CDWRJF
| Q4 25 | 7.8% | — | ||
| Q3 25 | 7.7% | — | ||
| Q2 25 | 7.0% | 14.7% | ||
| Q1 25 | 7.0% | 17.5% | ||
| Q4 24 | 7.9% | 18.6% | ||
| Q3 24 | 8.7% | — | ||
| Q2 24 | 8.0% | 17.1% | ||
| Q1 24 | 6.7% | 16.7% |
净利率CDWRJF
| Q4 25 | — | 13.5% | ||
| Q3 25 | 5.1% | 14.4% | ||
| Q2 25 | 4.5% | 11.3% | ||
| Q1 25 | 4.3% | 12.9% | ||
| Q4 24 | — | 14.9% | ||
| Q3 24 | 5.7% | 15.0% | ||
| Q2 24 | 5.2% | 13.1% | ||
| Q1 24 | 4.4% | 13.1% |
每股收益（稀释后）CDWRJF
| Q4 25 | $2.13 | $2.79 | ||
| Q3 25 | $2.21 | $2.96 | ||
| Q2 25 | $2.05 | $2.12 | ||
| Q1 25 | $1.69 | $2.36 | ||
| Q4 24 | $1.97 | $2.86 | ||
| Q3 24 | $2.34 | $2.85 | ||
| Q2 24 | $2.07 | $2.31 | ||
| 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 | $9.9B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.6B | $12.6B |
| 总资产 | $16.0B | $88.8B |
| 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CDWRJF
| Q4 25 | $618.7M | $9.9B | ||
| Q3 25 | $452.9M | $11.4B | ||
| Q2 25 | $481.0M | $9.2B | ||
| Q1 25 | $688.1M | $9.7B | ||
| Q4 24 | $717.7M | $10.0B | ||
| Q3 24 | $1.2B | $11.0B | ||
| Q2 24 | $665.3M | $9.1B | ||
| Q1 24 | $803.8M | $10.0B |
股东权益CDWRJF
| Q4 25 | $2.6B | $12.6B | ||
| Q3 25 | $2.5B | $12.5B | ||
| Q2 25 | $2.5B | $12.3B | ||
| Q1 25 | $2.3B | $12.2B | ||
| Q4 24 | $2.4B | $11.9B | ||
| Q3 24 | $2.3B | $11.7B | ||
| Q2 24 | $2.2B | $11.2B | ||
| Q1 24 | $2.1B | $11.0B |
总资产CDWRJF
| Q4 25 | $16.0B | $88.8B | ||
| Q3 25 | $15.2B | $88.2B | ||
| Q2 25 | $15.3B | $84.8B | ||
| Q1 25 | $15.0B | $83.1B | ||
| Q4 24 | $14.7B | $82.3B | ||
| Q3 24 | $14.4B | $83.0B | ||
| Q2 24 | $13.6B | $80.6B | ||
| Q1 24 | $13.2B | $81.2B |
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 | $-10.0M |
| 自由现金流经营现金流 - 资本支出 | $395.9M | $-56.0M |
| 自由现金流率自由现金流/营收 | 7.2% | -1.3% |
| 资本支出强度资本支出/营收 | 0.7% | 1.1% |
| 现金转化率经营现金流/净利润 | — | -0.02× |
| 过去12个月自由现金流最近4个季度 | $1.1B | $1.4B |
8季度趋势，按日历期对齐
经营现金流CDWRJF
| Q4 25 | $433.8M | $-10.0M | ||
| Q3 25 | $328.3M | $796.0M | ||
| Q2 25 | $155.9M | $691.0M | ||
| Q1 25 | $287.2M | $117.0M | ||
| Q4 24 | $345.3M | $830.0M | ||
| Q3 24 | $342.1M | $510.0M | ||
| Q2 24 | $149.9M | $711.0M | ||
| Q1 24 | $440.0M | $391.0M |
自由现金流CDWRJF
| Q4 25 | $395.9M | $-56.0M | ||
| Q3 25 | $298.5M | $752.0M | ||
| Q2 25 | $133.4M | $634.0M | ||
| Q1 25 | $260.3M | $71.0M | ||
| Q4 24 | $316.7M | $789.0M | ||
| Q3 24 | $308.5M | $460.0M | ||
| Q2 24 | $119.0M | $655.0M | ||
| Q1 24 | $410.5M | $342.0M |
自由现金流率CDWRJF
| Q4 25 | 7.2% | -1.3% | ||
| Q3 25 | 5.2% | 17.9% | ||
| Q2 25 | 2.2% | 16.5% | ||
| Q1 25 | 5.0% | 1.8% | ||
| Q4 24 | 6.1% | 19.6% | ||
| Q3 24 | 5.6% | 11.5% | ||
| Q2 24 | 2.2% | 17.4% | ||
| Q1 24 | 8.4% | 9.4% |
资本支出强度CDWRJF
| Q4 25 | 0.7% | 1.1% | ||
| Q3 25 | 0.5% | 1.1% | ||
| Q2 25 | 0.4% | 1.5% | ||
| Q1 25 | 0.5% | 1.2% | ||
| Q4 24 | 0.6% | 1.0% | ||
| Q3 24 | 0.6% | 1.2% | ||
| Q2 24 | 0.6% | 1.5% | ||
| Q1 24 | 0.6% | 1.3% |
现金转化率CDWRJF
| Q4 25 | — | -0.02× | ||
| Q3 25 | 1.13× | 1.32× | ||
| Q2 25 | 0.57× | 1.58× | ||
| Q1 25 | 1.28× | 0.24× | ||
| Q4 24 | — | 1.38× | ||
| Q3 24 | 1.08× | 0.85× | ||
| Q2 24 | 0.53× | 1.45× | ||
| Q1 24 | 2.04× | 0.82× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
