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CDW Corporation（CDW）与标普全球（VG）财务数据对比。点击上方公司名可切换其他公司
CDW Corporation的季度营收约是标普全球的1.2倍（$5.7B vs $4.6B），标普全球净利率更高（13.6% vs 4.1%，领先9.4%），标普全球同比增速更快（59.0% vs 9.2%），过去两年标普全球的营收复合增速更高（103.8% vs 2.3%）
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。
标普全球是总部位于美国纽约曼哈顿的上市企业，核心业务涵盖金融信息与数据分析、能源及大宗商品情报服务，旗下拥有标普全球评级、标普全球能源、标普全球市场财智、印度信用评级机构CRISIL等子品牌，同时是标普道琼斯指数合资公司的控股股东。
CDW vs VG — 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
VG
高出49.8%
9.2%
净利率更高
VG
高出9.4%
4.1%
两年增速更快
VG
近两年复合增速
2.3%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $5.7B | $4.6B |
| 净利润 | $235.4M | $625.0M |
| 毛利率 | 21.0% | — |
| 营业利润率 | 6.6% | 26.1% |
| 净利率 | 4.1% | 13.6% |
| 营收同比 | 9.2% | 59.0% |
| 净利润同比 | 4.7% | 20.9% |
| 每股收益（稀释后） | $1.82 | $0.19 |
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CDWVG
| Q1 26 | $5.7B | $4.6B | ||
| Q4 25 | $5.5B | $4.4B | ||
| Q3 25 | $5.7B | $3.3B | ||
| Q2 25 | $6.0B | $3.1B | ||
| Q1 25 | $5.2B | $2.9B | ||
| Q4 24 | $5.2B | $1.5B | ||
| Q3 24 | $5.5B | $926.0M | ||
| Q2 24 | $5.4B | $1.1B |
净利润CDWVG
| Q1 26 | $235.4M | $625.0M | ||
| Q4 25 | — | $1.2B | ||
| Q3 25 | $291.0M | $550.0M | ||
| Q2 25 | $271.2M | $475.0M | ||
| Q1 25 | $224.9M | $517.0M | ||
| Q4 24 | — | $990.0M | ||
| Q3 24 | $316.4M | $-294.0M | ||
| Q2 24 | $281.1M | $352.0M |
毛利率CDWVG
| Q1 26 | 21.0% | — | ||
| 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CDWVG
| Q1 26 | 6.6% | 26.1% | ||
| Q4 25 | 7.8% | 38.7% | ||
| Q3 25 | 7.7% | 39.7% | ||
| Q2 25 | 7.0% | 33.5% | ||
| Q1 25 | 7.0% | 37.3% | ||
| Q4 24 | 7.9% | 39.0% | ||
| Q3 24 | 8.7% | 20.4% | ||
| Q2 24 | 8.0% | 32.8% |
净利率CDWVG
| Q1 26 | 4.1% | 13.6% | ||
| Q4 25 | — | 26.8% | ||
| Q3 25 | 5.1% | 16.5% | ||
| Q2 25 | 4.5% | 15.3% | ||
| Q1 25 | 4.3% | 17.9% | ||
| Q4 24 | — | 65.0% | ||
| Q3 24 | 5.7% | -31.7% | ||
| Q2 24 | 5.2% | 31.8% |
每股收益（稀释后）CDWVG
| Q1 26 | $1.82 | $0.19 | ||
| Q4 25 | $2.13 | $0.41 | ||
| Q3 25 | $2.21 | $0.16 | ||
| Q2 25 | $2.05 | $0.14 | ||
| Q1 25 | $1.69 | $0.15 | ||
| Q4 24 | $1.97 | $0.35 | ||
| Q3 24 | $2.34 | $-0.15 | ||
| Q2 24 | $2.07 | $0.12 |
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 | $578.6M | $1.6B |
| 总债务越低越好 | $1.0B | — |
| 股东权益账面价值 | $2.6B | $10.7B |
| 总资产 | $16.5B | $56.3B |
| 负债/权益比越低杠杆越低 | 0.39× | — |
8季度趋势，按日历期对齐
现金及短期投资CDWVG
| Q1 26 | $578.6M | $1.6B | ||
| Q4 25 | $618.7M | $2.4B | ||
| Q3 25 | $452.9M | $1.9B | ||
| Q2 25 | $481.0M | $2.2B | ||
| Q1 25 | $688.1M | $3.6B | ||
| Q4 24 | $717.7M | $3.6B | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $665.3M | — |
总债务CDWVG
| Q1 26 | $1.0B | — | ||
| Q4 25 | — | $34.2B | ||
| Q3 25 | — | $32.6B | ||
| Q2 25 | — | $30.0B | ||
| Q1 25 | — | $29.3B | ||
| Q4 24 | — | $29.3B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益CDWVG
| Q1 26 | $2.6B | $10.7B | ||
| Q4 25 | $2.6B | $6.7B | ||
| Q3 25 | $2.5B | $5.7B | ||
| Q2 25 | $2.5B | $5.3B | ||
| Q1 25 | $2.3B | $4.9B | ||
| Q4 24 | $2.4B | $2.9B | ||
| Q3 24 | $2.3B | — | ||
| Q2 24 | $2.2B | — |
总资产CDWVG
| Q1 26 | $16.5B | $56.3B | ||
| Q4 25 | $16.0B | $53.4B | ||
| Q3 25 | $15.2B | $50.1B | ||
| Q2 25 | $15.3B | $46.5B | ||
| Q1 25 | $15.0B | $45.1B | ||
| Q4 24 | $14.7B | $43.5B | ||
| Q3 24 | $14.4B | — | ||
| Q2 24 | $13.6B | — |
负债/权益比CDWVG
| Q1 26 | 0.39× | — | ||
| Q4 25 | — | 5.07× | ||
| Q3 25 | — | 5.73× | ||
| Q2 25 | — | 5.69× | ||
| Q1 25 | — | 6.01× | ||
| Q4 24 | — | 10.11× | ||
| 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 | $274.8M | — |
| 自由现金流经营现金流 - 资本支出 | $248.4M | — |
| 自由现金流率自由现金流/营收 | 4.4% | — |
| 资本支出强度资本支出/营收 | 0.5% | — |
| 现金转化率经营现金流/净利润 | 1.17× | — |
| 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CDWVG
| Q1 26 | $274.8M | — | ||
| Q4 25 | $433.8M | $2.1B | ||
| Q3 25 | $328.3M | $1.9B | ||
| Q2 25 | $155.9M | $1.5B | ||
| Q1 25 | $287.2M | $1.1B | ||
| Q4 24 | $345.3M | — | ||
| Q3 24 | $342.1M | — | ||
| Q2 24 | $149.9M | — |
自由现金流CDWVG
| Q1 26 | $248.4M | — | ||
| Q4 25 | $395.9M | $-1.5B | ||
| Q3 25 | $298.5M | $-1.4B | ||
| Q2 25 | $133.4M | $-1.5B | ||
| Q1 25 | $260.3M | $-2.4B | ||
| Q4 24 | $316.7M | — | ||
| Q3 24 | $308.5M | — | ||
| Q2 24 | $119.0M | — |
自由现金流率CDWVG
| Q1 26 | 4.4% | — | ||
| Q4 25 | 7.2% | -34.1% | ||
| Q3 25 | 5.2% | -42.4% | ||
| Q2 25 | 2.2% | -49.1% | ||
| Q1 25 | 5.0% | -81.3% | ||
| Q4 24 | 6.1% | — | ||
| Q3 24 | 5.6% | — | ||
| Q2 24 | 2.2% | — |
资本支出强度CDWVG
| Q1 26 | 0.5% | — | ||
| Q4 25 | 0.7% | 81.6% | ||
| Q3 25 | 0.5% | 98.9% | ||
| Q2 25 | 0.4% | 96.1% | ||
| Q1 25 | 0.5% | 119.8% | ||
| Q4 24 | 0.6% | — | ||
| Q3 24 | 0.6% | — | ||
| Q2 24 | 0.6% | — |
现金转化率CDWVG
| Q1 26 | 1.17× | — | ||
| Q4 25 | — | 1.77× | ||
| Q3 25 | 1.13× | 3.42× | ||
| Q2 25 | 0.57× | 3.07× | ||
| Q1 25 | 1.28× | 2.15× | ||
| 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
业务分部营收拆解
CDW
| Corporate | $2.4B | 42% |
| Other | $802.5M | 14% |
| Healthcare | $766.7M | 13% |
| Education | $675.0M | 12% |
| Government | $632.9M | 11% |
| Financial Services | $428.4M | 8% |
VG
暂无分部数据
