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Core & Main, Inc.（CNM）与Dream Finders Homes, Inc.（DFH）财务数据对比。点击上方公司名可切换其他公司
Core & Main, Inc.的季度营收约是Dream Finders Homes, Inc.的1.7倍（$2.1B vs $1.2B），Core & Main, Inc.净利率更高（6.6% vs 4.8%，领先1.8%），Core & Main, Inc.同比增速更快（0.0% vs -22.3%），Core & Main, Inc.自由现金流更多（$263.0M vs $136.0M），过去两年Dream Finders Homes, Inc.的营收复合增速更高（21.0% vs 19.7%）
Core & Main, Inc.总部位于美国密苏里州圣路易斯，是美国专业的水务及相关防护产品分销商，主营供水、污水处理、雨水排放、消防防护类产品，客户覆盖市政部门、私营水务企业及专业承包商，在全美49个州设有370个分支机构，服务6万客户，在售产品达22.5万种。
美国住宅建筑商Dream Finders Homes主要建造并销售独栋住宅、联排别墅等覆盖入门级到高端档次的居住物业，业务布局美国多个高速增长区域，同时为购房者提供按揭融资、产权保险、房屋保修等配套服务，覆盖各类客户群体。
CNM vs DFH — 直观对比
营收规模更大
CNM
是对方的1.7倍
$1.2B
营收增速更快
CNM
高出22.3%
-22.3%
净利率更高
CNM
高出1.8%
4.8%
自由现金流更多
CNM
多$127.0M
$136.0M
两年增速更快
DFH
近两年复合增速
19.7%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $1.2B |
| 净利润 | $137.0M | $58.8M |
| 毛利率 | 27.2% | — |
| 营业利润率 | 10.7% | 6.4% |
| 净利率 | 6.6% | 4.8% |
| 营收同比 | 0.0% | -22.3% |
| 净利润同比 | 0.0% | -54.9% |
| 每股收益（稀释后） | $0.72 | $0.57 |
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CNMDFH
| Q4 25 | $2.1B | $1.2B | ||
| Q3 25 | $2.1B | $969.8M | ||
| Q2 25 | $1.9B | $1.2B | ||
| Q1 25 | $1.7B | $989.9M | ||
| Q4 24 | $2.0B | $1.6B | ||
| Q3 24 | $2.0B | $1.0B | ||
| Q2 24 | $1.7B | $1.1B | ||
| Q1 24 | $1.4B | $827.8M |
净利润CNMDFH
| Q4 25 | $137.0M | $58.8M | ||
| Q3 25 | $134.0M | $47.0M | ||
| Q2 25 | $100.0M | $56.6M | ||
| Q1 25 | $64.0M | $54.9M | ||
| Q4 24 | $133.0M | $130.5M | ||
| Q3 24 | $119.0M | $70.7M | ||
| Q2 24 | $95.0M | $80.9M | ||
| Q1 24 | $63.0M | $54.5M |
毛利率CNMDFH
| Q4 25 | 27.2% | — | ||
| Q3 25 | 26.8% | — | ||
| Q2 25 | 26.7% | — | ||
| Q1 25 | 26.6% | — | ||
| Q4 24 | 26.6% | — | ||
| Q3 24 | 26.4% | — | ||
| Q2 24 | 26.9% | 19.2% | ||
| Q1 24 | 26.7% | 18.0% |
营业利润率CNMDFH
| Q4 25 | 10.7% | 6.4% | ||
| Q3 25 | 10.2% | 6.3% | ||
| Q2 25 | 8.9% | 6.4% | ||
| Q1 25 | 7.3% | 7.2% | ||
| Q4 24 | 10.9% | 10.8% | ||
| Q3 24 | 10.4% | 9.2% | ||
| Q2 24 | 9.6% | 10.0% | ||
| Q1 24 | 8.1% | 8.6% |
净利率CNMDFH
| Q4 25 | 6.6% | 4.8% | ||
| Q3 25 | 6.4% | 4.8% | ||
| Q2 25 | 5.2% | 4.9% | ||
| Q1 25 | 3.8% | 5.5% | ||
| Q4 24 | 6.5% | 8.4% | ||
| Q3 24 | 6.1% | 7.0% | ||
| Q2 24 | 5.5% | 7.7% | ||
| Q1 24 | 4.4% | 6.6% |
每股收益（稀释后）CNMDFH
| Q4 25 | $0.72 | $0.57 | ||
| Q3 25 | $0.70 | $0.47 | ||
| Q2 25 | $0.52 | $0.56 | ||
| Q1 25 | $0.34 | $0.54 | ||
| Q4 24 | $0.69 | $1.28 | ||
| Q3 24 | $0.61 | $0.70 | ||
| Q2 24 | $0.49 | $0.81 | ||
| Q1 24 | $0.34 | $0.55 |
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 | $89.0M | $234.8M |
| 总债务越低越好 | — | $1.6B |
| 股东权益账面价值 | $2.0B | $1.4B |
| 总资产 | $6.3B | $3.7B |
| 负债/权益比越低杠杆越低 | — | 1.13× |
8季度趋势，按日历期对齐
现金及短期投资CNMDFH
| Q4 25 | $89.0M | $234.8M | ||
| Q3 25 | $25.0M | $251.0M | ||
| Q2 25 | $8.0M | $210.3M | ||
| Q1 25 | $8.0M | $297.5M | ||
| Q4 24 | $10.0M | $274.4M | ||
| Q3 24 | $13.0M | $204.9M | ||
| Q2 24 | $30.0M | $274.8M | ||
| Q1 24 | $1.0M | $239.4M |
总债务CNMDFH
| Q4 25 | — | $1.6B | ||
| Q3 25 | — | $1.8B | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益CNMDFH
| Q4 25 | $2.0B | $1.4B | ||
| Q3 25 | $1.9B | $1.4B | ||
| Q2 25 | $1.7B | $1.3B | ||
| Q1 25 | $1.7B | $1.3B | ||
| Q4 24 | $1.7B | $1.2B | ||
| Q3 24 | $1.6B | $1.1B | ||
| Q2 24 | $1.6B | $1.0B | ||
| Q1 24 | $1.5B | $968.7M |
总资产CNMDFH
| Q4 25 | $6.3B | $3.7B | ||
| Q3 25 | $6.3B | $3.8B | ||
| Q2 25 | $6.3B | $3.7B | ||
| Q1 25 | $5.9B | $3.5B | ||
| Q4 24 | $6.2B | $3.3B | ||
| Q3 24 | $6.1B | $3.3B | ||
| Q2 24 | $6.0B | $3.0B | ||
| Q1 24 | $5.1B | $2.7B |
负债/权益比CNMDFH
| Q4 25 | — | 1.13× | ||
| Q3 25 | — | 1.29× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.03× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $271.0M | $143.6M |
| 自由现金流经营现金流 - 资本支出 | $263.0M | $136.0M |
| 自由现金流率自由现金流/营收 | 12.8% | 11.2% |
| 资本支出强度资本支出/营收 | 0.4% | 0.6% |
| 现金转化率经营现金流/净利润 | 1.98× | 2.44× |
| 过去12个月自由现金流最近4个季度 | $575.0M | $-126.4M |
8季度趋势，按日历期对齐
经营现金流CNMDFH
| Q4 25 | $271.0M | $143.6M | ||
| Q3 25 | $34.0M | $-131.0M | ||
| Q2 25 | $77.0M | $-68.5M | ||
| Q1 25 | $235.0M | $-44.7M | ||
| Q4 24 | $260.0M | $306.5M | ||
| Q3 24 | $48.0M | $-205.0M | ||
| Q2 24 | $78.0M | $-110.6M | ||
| Q1 24 | $294.0M | $-247.5M |
自由现金流CNMDFH
| Q4 25 | $263.0M | $136.0M | ||
| Q3 25 | $24.0M | $-135.7M | ||
| Q2 25 | $64.0M | $-78.8M | ||
| Q1 25 | $224.0M | $-47.9M | ||
| Q4 24 | $252.0M | $302.6M | ||
| Q3 24 | $39.0M | $-222.5M | ||
| Q2 24 | $71.0M | $-112.4M | ||
| Q1 24 | $289.0M | $-249.6M |
自由现金流率CNMDFH
| Q4 25 | 12.8% | 11.2% | ||
| Q3 25 | 1.1% | -14.0% | ||
| Q2 25 | 3.3% | -6.8% | ||
| Q1 25 | 13.2% | -4.8% | ||
| Q4 24 | 12.4% | 19.4% | ||
| Q3 24 | 2.0% | -22.1% | ||
| Q2 24 | 4.1% | -10.6% | ||
| Q1 24 | 20.1% | -30.2% |
资本支出强度CNMDFH
| Q4 25 | 0.4% | 0.6% | ||
| Q3 25 | 0.5% | 0.5% | ||
| Q2 25 | 0.7% | 0.9% | ||
| Q1 25 | 0.6% | 0.3% | ||
| Q4 24 | 0.4% | 0.3% | ||
| Q3 24 | 0.5% | 1.7% | ||
| Q2 24 | 0.4% | 0.2% | ||
| Q1 24 | 0.3% | 0.3% |
现金转化率CNMDFH
| Q4 25 | 1.98× | 2.44× | ||
| Q3 25 | 0.25× | -2.79× | ||
| Q2 25 | 0.77× | -1.21× | ||
| Q1 25 | 3.67× | -0.81× | ||
| Q4 24 | 1.95× | 2.35× | ||
| Q3 24 | 0.40× | -2.90× | ||
| Q2 24 | 0.82× | -1.37× | ||
| Q1 24 | 4.67× | -4.54× |
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
CNM
| Pipes Valves And Fitting Products | $1.4B | 67% |
| Storm Drainage Products | $333.0M | 16% |
| Meter Products | $195.0M | 9% |
| Fire Protection Products | $152.0M | 7% |
DFH
| Midwest Segment | $454.2M | 37% |
| Southeast Segment | $397.5M | 33% |
| Mid Atlantic Segment | $307.3M | 25% |
| Financial Services Segment | $53.7M | 4% |
