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CDW Corporation（CDW）与史密斯菲尔德食品（SFD）财务数据对比。点击上方公司名可切换其他公司
CDW Corporation的季度营收约是史密斯菲尔德食品的1.5倍（$5.5B vs $3.8B），CDW Corporation同比增速更快（6.3% vs 0.8%），过去两年CDW Corporation的营收复合增速更高（6.3% vs 5.5%）
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。
史密斯菲尔德食品是全球规模最大的生猪养殖与猪肉加工企业，1936年由卢特父子创立，总部位于美国弗吉尼亚州史密斯菲尔德，现隶属于香港企业。公司在美国自营超500个农场，还与2000余家独立农场合作养殖生猪，业务覆盖墨西哥、波兰、德国等多个海外市场。
CDW vs SFD — 直观对比
营收规模更大
CDW
是对方的1.5倍
$3.8B
营收增速更快
CDW
高出5.5%
0.8%
两年增速更快
CDW
近两年复合增速
5.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $5.5B | $3.8B |
| 净利润 | — | $249.0M |
| 毛利率 | 22.8% | 13.4% |
| 营业利润率 | 7.8% | 8.8% |
| 净利率 | — | 6.6% |
| 营收同比 | 6.3% | 0.8% |
| 净利润同比 | — | 9.7% |
| 每股收益（稀释后） | $2.13 | — |
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CDWSFD
| Q1 26 | — | $3.8B | ||
| Q4 25 | $5.5B | $4.2B | ||
| Q3 25 | $5.7B | $3.7B | ||
| Q2 25 | $6.0B | $3.8B | ||
| Q1 25 | $5.2B | $3.8B | ||
| Q4 24 | $5.2B | $4.0B | ||
| Q3 24 | $5.5B | $3.3B | ||
| Q2 24 | $5.4B | $3.4B |
净利润CDWSFD
| Q1 26 | — | $249.0M | ||
| Q4 25 | — | $327.0M | ||
| Q3 25 | $291.0M | $248.0M | ||
| Q2 25 | $271.2M | $188.0M | ||
| Q1 25 | $224.9M | $224.0M | ||
| Q4 24 | — | $205.0M | ||
| Q3 24 | $316.4M | $291.0M | ||
| Q2 24 | $281.1M | $301.0M |
毛利率CDWSFD
| Q1 26 | — | 13.4% | ||
| Q4 25 | 22.8% | 14.2% | ||
| Q3 25 | 21.9% | 12.8% | ||
| Q2 25 | 20.8% | 13.2% | ||
| Q1 25 | 21.6% | 13.5% | ||
| Q4 24 | 22.3% | 13.5% | ||
| Q3 24 | 21.8% | 14.3% | ||
| Q2 24 | 21.8% | 15.4% |
营业利润率CDWSFD
| Q1 26 | — | 8.8% | ||
| Q4 25 | 7.8% | 9.5% | ||
| Q3 25 | 7.7% | 8.3% | ||
| Q2 25 | 7.0% | 6.9% | ||
| Q1 25 | 7.0% | 8.5% | ||
| Q4 24 | 7.9% | 8.5% | ||
| Q3 24 | 8.7% | 8.5% | ||
| Q2 24 | 8.0% | 9.8% |
净利率CDWSFD
| Q1 26 | — | 6.6% | ||
| Q4 25 | — | 7.7% | ||
| Q3 25 | 5.1% | 6.6% | ||
| Q2 25 | 4.5% | 5.0% | ||
| Q1 25 | 4.3% | 5.9% | ||
| Q4 24 | — | 5.2% | ||
| Q3 24 | 5.7% | 8.7% | ||
| Q2 24 | 5.2% | 8.8% |
每股收益（稀释后）CDWSFD
| Q1 26 | — | — | ||
| Q4 25 | $2.13 | $0.83 | ||
| Q3 25 | $2.21 | $0.63 | ||
| Q2 25 | $2.05 | $0.48 | ||
| Q1 25 | $1.69 | $0.57 | ||
| Q4 24 | $1.97 | $0.54 | ||
| Q3 24 | $2.34 | $0.77 | ||
| Q2 24 | $2.07 | $0.79 |
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 | $1.4B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.6B | $6.9B |
| 总资产 | $16.0B | $12.0B |
| 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CDWSFD
| Q1 26 | — | $1.4B | ||
| Q4 25 | $618.7M | — | ||
| Q3 25 | $452.9M | — | ||
| Q2 25 | $481.0M | — | ||
| Q1 25 | $688.1M | — | ||
| Q4 24 | $717.7M | — | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $665.3M | — |
总债务CDWSFD
| Q1 26 | — | — | ||
| Q4 25 | — | $2.0B | ||
| Q3 25 | — | $2.0B | ||
| Q2 25 | — | $2.0B | ||
| Q1 25 | — | $2.0B | ||
| Q4 24 | — | $2.0B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益CDWSFD
| Q1 26 | — | $6.9B | ||
| Q4 25 | $2.6B | $6.8B | ||
| Q3 25 | $2.5B | $6.5B | ||
| Q2 25 | $2.5B | $6.3B | ||
| Q1 25 | $2.3B | $6.2B | ||
| Q4 24 | $2.4B | $5.8B | ||
| Q3 24 | $2.3B | — | ||
| Q2 24 | $2.2B | — |
总资产CDWSFD
| Q1 26 | — | $12.0B | ||
| Q4 25 | $16.0B | $12.2B | ||
| Q3 25 | $15.2B | $11.5B | ||
| Q2 25 | $15.3B | $11.2B | ||
| Q1 25 | $15.0B | $11.1B | ||
| Q4 24 | $14.7B | $11.1B | ||
| Q3 24 | $14.4B | — | ||
| Q2 24 | $13.6B | — |
负债/权益比CDWSFD
| Q1 26 | — | — | ||
| Q4 25 | — | 0.29× | ||
| Q3 25 | — | 0.31× | ||
| Q2 25 | — | 0.32× | ||
| Q1 25 | — | 0.32× | ||
| Q4 24 | — | 0.34× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — |
| 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% | 2.3% |
| 现金转化率经营现金流/净利润 | — | — |
| 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CDWSFD
| Q1 26 | — | — | ||
| Q4 25 | $433.8M | $938.0M | ||
| Q3 25 | $328.3M | $13.0M | ||
| Q2 25 | $155.9M | $274.0M | ||
| Q1 25 | $287.2M | $-166.0M | ||
| Q4 24 | $345.3M | — | ||
| Q3 24 | $342.1M | — | ||
| Q2 24 | $149.9M | — |
自由现金流CDWSFD
| Q1 26 | — | — | ||
| Q4 25 | $395.9M | $842.0M | ||
| Q3 25 | $298.5M | $-75.0M | ||
| Q2 25 | $133.4M | $196.0M | ||
| Q1 25 | $260.3M | $-245.0M | ||
| Q4 24 | $316.7M | — | ||
| Q3 24 | $308.5M | — | ||
| Q2 24 | $119.0M | — |
自由现金流率CDWSFD
| Q1 26 | — | — | ||
| Q4 25 | 7.2% | 19.9% | ||
| Q3 25 | 5.2% | -2.0% | ||
| Q2 25 | 2.2% | 5.2% | ||
| Q1 25 | 5.0% | -6.5% | ||
| Q4 24 | 6.1% | — | ||
| Q3 24 | 5.6% | — | ||
| Q2 24 | 2.2% | — |
资本支出强度CDWSFD
| Q1 26 | — | 2.3% | ||
| Q4 25 | 0.7% | 2.3% | ||
| Q3 25 | 0.5% | 2.3% | ||
| Q2 25 | 0.4% | 2.1% | ||
| Q1 25 | 0.5% | 2.1% | ||
| Q4 24 | 0.6% | 2.1% | ||
| Q3 24 | 0.6% | 2.8% | ||
| Q2 24 | 0.6% | 2.3% |
现金转化率CDWSFD
| Q1 26 | — | — | ||
| Q4 25 | — | 2.87× | ||
| Q3 25 | 1.13× | 0.05× | ||
| Q2 25 | 0.57× | 1.46× | ||
| Q1 25 | 1.28× | -0.74× | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.08× | — | ||
| Q2 24 | 0.53× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
