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Core & Main, Inc.（CNM）与Fastenal（FAST）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Fastenal的1.0倍（$2.1B vs $2.0B），Fastenal净利率更高（14.5% vs 6.6%，领先7.9%），Fastenal同比增速更快（3.5% vs 0.0%），Fastenal自由现金流更多（$308.2M vs $263.0M），过去两年Core & Main, Inc.的营收复合增速更高（19.7% vs 2.9%）
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。
Fastenal是1967年成立的美国上市企业，总部位于明尼苏达州威诺纳，是北美最大的紧固件分销商，同时也是工业和建筑用品的主流供应商，可提供货柜备货、智能售货柜、库存管理、物流配送等一站式供应链解决方案。
CNM vs FAST — 直观对比
营收规模更大
CNM
是对方的1.0倍
$2.0B
营收增速更快
FAST
高出3.5%
0.0%
净利率更高
FAST
高出7.9%
6.6%
自由现金流更多
FAST
多$45.2M
$263.0M
两年增速更快
CNM
近两年复合增速
2.9%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $2.0B |
| 净利润 | $137.0M | $293.9M |
| 毛利率 | 27.2% | 44.3% |
| 营业利润率 | 10.7% | 18.9% |
| 净利率 | 6.6% | 14.5% |
| 营收同比 | 0.0% | 3.5% |
| 净利润同比 | 0.0% | -1.6% |
| 每股收益（稀释后） | $0.72 | $-0.01 |
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CNMFAST
| Q1 26 | — | $2.0B | ||
| Q4 25 | $2.1B | $2.0B | ||
| Q3 25 | $2.1B | $2.1B | ||
| Q2 25 | $1.9B | $2.1B | ||
| Q1 25 | $1.7B | $2.0B | ||
| Q4 24 | $2.0B | $1.8B | ||
| Q3 24 | $2.0B | $1.9B | ||
| Q2 24 | $1.7B | $1.9B |
净利润CNMFAST
| Q1 26 | — | $293.9M | ||
| Q4 25 | $137.0M | $293.9M | ||
| Q3 25 | $134.0M | $335.5M | ||
| Q2 25 | $100.0M | $330.3M | ||
| Q1 25 | $64.0M | $298.7M | ||
| Q4 24 | $133.0M | $262.1M | ||
| Q3 24 | $119.0M | $298.1M | ||
| Q2 24 | $95.0M | $292.7M |
毛利率CNMFAST
| Q1 26 | — | 44.3% | ||
| Q4 25 | 27.2% | 44.3% | ||
| Q3 25 | 26.8% | 45.3% | ||
| Q2 25 | 26.7% | 45.3% | ||
| Q1 25 | 26.6% | 45.1% | ||
| Q4 24 | 26.6% | 44.8% | ||
| Q3 24 | 26.4% | 44.9% | ||
| Q2 24 | 26.9% | 45.1% |
营业利润率CNMFAST
| Q1 26 | — | 18.9% | ||
| Q4 25 | 10.7% | 18.9% | ||
| Q3 25 | 10.2% | 20.7% | ||
| Q2 25 | 8.9% | 21.0% | ||
| Q1 25 | 7.3% | 20.1% | ||
| Q4 24 | 10.9% | 18.9% | ||
| Q3 24 | 10.4% | 20.3% | ||
| Q2 24 | 9.6% | 20.2% |
净利率CNMFAST
| Q1 26 | — | 14.5% | ||
| Q4 25 | 6.6% | 14.5% | ||
| Q3 25 | 6.4% | 15.7% | ||
| Q2 25 | 5.2% | 15.9% | ||
| Q1 25 | 3.8% | 15.2% | ||
| Q4 24 | 6.5% | 14.4% | ||
| Q3 24 | 6.1% | 15.6% | ||
| Q2 24 | 5.5% | 15.3% |
每股收益（稀释后）CNMFAST
| Q1 26 | — | $-0.01 | ||
| Q4 25 | $0.72 | $-0.01 | ||
| Q3 25 | $0.70 | $0.29 | ||
| Q2 25 | $0.52 | $0.29 | ||
| Q1 25 | $0.34 | $0.52 | ||
| Q4 24 | $0.69 | $0.45 | ||
| Q3 24 | $0.61 | $0.52 | ||
| Q2 24 | $0.49 | $0.51 |
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 | $276.8M |
| 总债务越低越好 | — | $125.0M |
| 股东权益账面价值 | $2.0B | $3.9B |
| 总资产 | $6.3B | $5.1B |
| 负债/权益比越低杠杆越低 | — | 0.03× |
8季度趋势，按日历期对齐
现金及短期投资CNMFAST
| Q1 26 | — | $276.8M | ||
| Q4 25 | $89.0M | $276.8M | ||
| Q3 25 | $25.0M | $288.1M | ||
| Q2 25 | $8.0M | $237.8M | ||
| Q1 25 | $8.0M | $231.8M | ||
| Q4 24 | $10.0M | $255.8M | ||
| Q3 24 | $13.0M | $292.2M | ||
| Q2 24 | $30.0M | $255.5M |
总债务CNMFAST
| Q1 26 | — | $125.0M | ||
| Q4 25 | — | $125.0M | ||
| Q3 25 | — | $195.0M | ||
| Q2 25 | — | $230.0M | ||
| Q1 25 | — | $200.0M | ||
| Q4 24 | — | $200.0M | ||
| Q3 24 | — | $240.0M | ||
| Q2 24 | — | $235.0M |
股东权益CNMFAST
| Q1 26 | — | $3.9B | ||
| Q4 25 | $2.0B | $3.9B | ||
| Q3 25 | $1.9B | $3.9B | ||
| Q2 25 | $1.7B | $3.8B | ||
| Q1 25 | $1.7B | $3.7B | ||
| Q4 24 | $1.7B | $3.6B | ||
| Q3 24 | $1.6B | $3.6B | ||
| Q2 24 | $1.6B | $3.5B |
总资产CNMFAST
| Q1 26 | — | $5.1B | ||
| Q4 25 | $6.3B | $5.1B | ||
| Q3 25 | $6.3B | $5.1B | ||
| Q2 25 | $6.3B | $5.0B | ||
| Q1 25 | $5.9B | $4.9B | ||
| Q4 24 | $6.2B | $4.7B | ||
| Q3 24 | $6.1B | $4.7B | ||
| Q2 24 | $6.0B | $4.6B |
负债/权益比CNMFAST
| Q1 26 | — | 0.03× | ||
| Q4 25 | — | 0.03× | ||
| Q3 25 | — | 0.05× | ||
| Q2 25 | — | 0.06× | ||
| Q1 25 | — | 0.05× | ||
| Q4 24 | — | 0.06× | ||
| Q3 24 | — | 0.07× | ||
| Q2 24 | — | 0.07× |
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 | $368.2M |
| 自由现金流经营现金流 - 资本支出 | $263.0M | $308.2M |
| 自由现金流率自由现金流/营收 | 12.8% | 15.2% |
| 资本支出强度资本支出/营收 | 0.4% | 3.0% |
| 现金转化率经营现金流/净利润 | 1.98× | 1.25× |
| 过去12个月自由现金流最近4个季度 | $575.0M | $1.2B |
8季度趋势，按日历期对齐
经营现金流CNMFAST
| Q1 26 | — | $368.2M | ||
| Q4 25 | $271.0M | $368.2M | ||
| Q3 25 | $34.0M | $386.9M | ||
| Q2 25 | $77.0M | $278.6M | ||
| Q1 25 | $235.0M | $262.2M | ||
| Q4 24 | $260.0M | $282.8M | ||
| Q3 24 | $48.0M | $296.9M | ||
| Q2 24 | $78.0M | $258.0M |
自由现金流CNMFAST
| Q1 26 | — | $308.2M | ||
| Q4 25 | $263.0M | $308.2M | ||
| Q3 25 | $24.0M | $326.6M | ||
| Q2 25 | $64.0M | $209.3M | ||
| Q1 25 | $224.0M | $206.5M | ||
| Q4 24 | $252.0M | $222.6M | ||
| Q3 24 | $39.0M | $237.5M | ||
| Q2 24 | $71.0M | $201.9M |
自由现金流率CNMFAST
| Q1 26 | — | 15.2% | ||
| Q4 25 | 12.8% | 15.2% | ||
| Q3 25 | 1.1% | 15.3% | ||
| Q2 25 | 3.3% | 10.1% | ||
| Q1 25 | 13.2% | 10.5% | ||
| Q4 24 | 12.4% | 12.2% | ||
| Q3 24 | 2.0% | 12.4% | ||
| Q2 24 | 4.1% | 10.5% |
资本支出强度CNMFAST
| Q1 26 | — | 3.0% | ||
| Q4 25 | 0.4% | 3.0% | ||
| Q3 25 | 0.5% | 2.8% | ||
| Q2 25 | 0.7% | 3.3% | ||
| Q1 25 | 0.6% | 2.8% | ||
| Q4 24 | 0.4% | 3.3% | ||
| Q3 24 | 0.5% | 3.1% | ||
| Q2 24 | 0.4% | 2.9% |
现金转化率CNMFAST
| Q1 26 | — | 1.25× | ||
| Q4 25 | 1.98× | 1.25× | ||
| Q3 25 | 0.25× | 1.15× | ||
| Q2 25 | 0.77× | 0.84× | ||
| Q1 25 | 3.67× | 0.88× | ||
| Q4 24 | 1.95× | 1.08× | ||
| Q3 24 | 0.40× | 1.00× | ||
| Q2 24 | 0.82× | 0.88× |
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% |
FAST
| Reportable Segment Aggregation Before Other Operating Segment | $1.8B | 90% |
| Other | $211.2M | 10% |
