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CDW Corporation（CDW）与Ross Stores（ROST）财务数据对比。点击上方公司名可切换其他公司
Ross Stores的季度营收约是CDW Corporation的1.0倍（$5.6B vs $5.5B），Ross Stores同比增速更快（10.4% vs 6.3%），Ross Stores自由现金流更多（$617.8M vs $395.9M），过去两年CDW Corporation的营收复合增速更高（6.3% vs -3.6%）
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。
Ross Stores, Inc.是美国知名折扣百货连锁集团，旗下核心品牌为Ross Dress for Less，总部位于加利福尼亚州都柏林，是美国规模最大的平价零售商。截至2024年7月，集团在全美43个州、华盛顿特区、波多黎各及关岛共运营1795家门店，暂未覆盖新英格兰地区及阿拉斯加，另拥有门店数超353家的折扣零售品牌DD's Discounts。
CDW vs ROST — 直观对比
营收规模更大
ROST
是对方的1.0倍
$5.5B
营收增速更快
ROST
高出4.2%
6.3%
自由现金流更多
ROST
多$221.9M
$395.9M
两年增速更快
CDW
近两年复合增速
-3.6%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $5.5B | $5.6B |
| 净利润 | — | $511.9M |
| 毛利率 | 22.8% | 28.0% |
| 营业利润率 | 7.8% | 11.6% |
| 净利率 | — | 9.1% |
| 营收同比 | 6.3% | 10.4% |
| 净利润同比 | — | 4.7% |
| 每股收益（稀释后） | $2.13 | $1.58 |
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CDWROST
| Q4 25 | $5.5B | $5.6B | ||
| Q3 25 | $5.7B | $5.5B | ||
| Q2 25 | $6.0B | $5.0B | ||
| Q1 25 | $5.2B | $5.9B | ||
| Q4 24 | $5.2B | $5.1B | ||
| Q3 24 | $5.5B | $5.3B | ||
| Q2 24 | $5.4B | $4.9B | ||
| Q1 24 | $4.9B | $6.0B |
净利润CDWROST
| Q4 25 | — | $511.9M | ||
| Q3 25 | $291.0M | $508.0M | ||
| Q2 25 | $271.2M | $479.2M | ||
| Q1 25 | $224.9M | $586.8M | ||
| Q4 24 | — | $488.8M | ||
| Q3 24 | $316.4M | $527.1M | ||
| Q2 24 | $281.1M | $488.0M | ||
| Q1 24 | $216.1M | $609.7M |
毛利率CDWROST
| Q4 25 | 22.8% | 28.0% | ||
| Q3 25 | 21.9% | 27.6% | ||
| Q2 25 | 20.8% | 28.2% | ||
| Q1 25 | 21.6% | 26.5% | ||
| Q4 24 | 22.3% | 28.3% | ||
| Q3 24 | 21.8% | 28.3% | ||
| Q2 24 | 21.8% | 28.1% | ||
| Q1 24 | 21.8% | 27.3% |
营业利润率CDWROST
| Q4 25 | 7.8% | 11.6% | ||
| Q3 25 | 7.7% | 11.5% | ||
| Q2 25 | 7.0% | 12.2% | ||
| Q1 25 | 7.0% | 12.4% | ||
| Q4 24 | 7.9% | 11.9% | ||
| Q3 24 | 8.7% | 12.5% | ||
| Q2 24 | 8.0% | 12.2% | ||
| Q1 24 | 6.7% | 13.2% |
净利率CDWROST
| Q4 25 | — | 9.1% | ||
| Q3 25 | 5.1% | 9.2% | ||
| Q2 25 | 4.5% | 9.6% | ||
| Q1 25 | 4.3% | 9.9% | ||
| Q4 24 | — | 9.6% | ||
| Q3 24 | 5.7% | 10.0% | ||
| Q2 24 | 5.2% | 10.0% | ||
| Q1 24 | 4.4% | 10.1% |
每股收益（稀释后）CDWROST
| Q4 25 | $2.13 | $1.58 | ||
| Q3 25 | $2.21 | $1.56 | ||
| Q2 25 | $2.05 | $1.47 | ||
| Q1 25 | $1.69 | $1.79 | ||
| Q4 24 | $1.97 | $1.48 | ||
| Q3 24 | $2.34 | $1.59 | ||
| Q2 24 | $2.07 | $1.46 | ||
| Q1 24 | $1.59 | $1.82 |
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 | $4.1B |
| 总债务越低越好 | — | $1.5B |
| 股东权益账面价值 | $2.6B | $5.9B |
| 总资产 | $16.0B | $15.4B |
| 负债/权益比越低杠杆越低 | — | 0.26× |
8季度趋势，按日历期对齐
现金及短期投资CDWROST
| Q4 25 | $618.7M | $4.1B | ||
| Q3 25 | $452.9M | $3.8B | ||
| Q2 25 | $481.0M | $3.8B | ||
| Q1 25 | $688.1M | $4.7B | ||
| Q4 24 | $717.7M | $4.3B | ||
| Q3 24 | $1.2B | $4.7B | ||
| Q2 24 | $665.3M | $4.7B | ||
| Q1 24 | $803.8M | $4.9B |
总债务CDWROST
| Q4 25 | — | $1.5B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $2.2B | ||
| Q4 24 | — | $2.2B | ||
| Q3 24 | — | $2.5B | ||
| Q2 24 | — | $2.5B | ||
| Q1 24 | — | $2.5B |
股东权益CDWROST
| Q4 25 | $2.6B | $5.9B | ||
| Q3 25 | $2.5B | $5.7B | ||
| Q2 25 | $2.5B | $5.6B | ||
| Q1 25 | $2.3B | $5.5B | ||
| Q4 24 | $2.4B | $5.3B | ||
| Q3 24 | $2.3B | $5.1B | ||
| Q2 24 | $2.2B | $4.9B | ||
| Q1 24 | $2.1B | $4.9B |
总资产CDWROST
| Q4 25 | $16.0B | $15.4B | ||
| Q3 25 | $15.2B | $14.5B | ||
| Q2 25 | $15.3B | $14.3B | ||
| Q1 25 | $15.0B | $14.9B | ||
| Q4 24 | $14.7B | $14.9B | ||
| Q3 24 | $14.4B | $14.7B | ||
| Q2 24 | $13.6B | $14.5B | ||
| Q1 24 | $13.2B | $14.3B |
负债/权益比CDWROST
| Q4 25 | — | 0.26× | ||
| Q3 25 | — | 0.26× | ||
| Q2 25 | — | 0.27× | ||
| Q1 25 | — | 0.40× | ||
| Q4 24 | — | 0.42× | ||
| Q3 24 | — | 0.48× | ||
| Q2 24 | — | 0.50× | ||
| Q1 24 | — | 0.51× |
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 | $827.1M |
| 自由现金流经营现金流 - 资本支出 | $395.9M | $617.8M |
| 自由现金流率自由现金流/营收 | 7.2% | 11.0% |
| 资本支出强度资本支出/营收 | 0.7% | 3.7% |
| 现金转化率经营现金流/净利润 | — | 1.62× |
| 过去12个月自由现金流最近4个季度 | $1.1B | $2.0B |
8季度趋势，按日历期对齐
经营现金流CDWROST
| Q4 25 | $433.8M | $827.1M | ||
| Q3 25 | $328.3M | $668.4M | ||
| Q2 25 | $155.9M | $409.7M | ||
| Q1 25 | $287.2M | $882.6M | ||
| Q4 24 | $345.3M | $513.4M | ||
| Q3 24 | $342.1M | $592.1M | ||
| Q2 24 | $149.9M | $368.9M | ||
| Q1 24 | $440.0M | $948.8M |
自由现金流CDWROST
| Q4 25 | $395.9M | $617.8M | ||
| Q3 25 | $298.5M | $466.6M | ||
| Q2 25 | $133.4M | $202.3M | ||
| Q1 25 | $260.3M | $676.6M | ||
| Q4 24 | $316.7M | $333.0M | ||
| Q3 24 | $308.5M | $394.6M | ||
| Q2 24 | $119.0M | $232.7M | ||
| Q1 24 | $410.5M | $726.4M |
自由现金流率CDWROST
| Q4 25 | 7.2% | 11.0% | ||
| Q3 25 | 5.2% | 8.4% | ||
| Q2 25 | 2.2% | 4.1% | ||
| Q1 25 | 5.0% | 11.4% | ||
| Q4 24 | 6.1% | 6.6% | ||
| Q3 24 | 5.6% | 7.5% | ||
| Q2 24 | 2.2% | 4.8% | ||
| Q1 24 | 8.4% | 12.1% |
资本支出强度CDWROST
| Q4 25 | 0.7% | 3.7% | ||
| Q3 25 | 0.5% | 3.6% | ||
| Q2 25 | 0.4% | 4.2% | ||
| Q1 25 | 0.5% | 3.5% | ||
| Q4 24 | 0.6% | 3.6% | ||
| Q3 24 | 0.6% | 3.7% | ||
| Q2 24 | 0.6% | 2.8% | ||
| Q1 24 | 0.6% | 3.7% |
现金转化率CDWROST
| Q4 25 | — | 1.62× | ||
| Q3 25 | 1.13× | 1.32× | ||
| Q2 25 | 0.57× | 0.85× | ||
| Q1 25 | 1.28× | 1.50× | ||
| Q4 24 | — | 1.05× | ||
| Q3 24 | 1.08× | 1.12× | ||
| Q2 24 | 0.53× | 0.76× | ||
| Q1 24 | 2.04× | 1.56× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
