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Core & Main, Inc.（CNM）与帕森斯公司（PSN）财务数据对比。点击上方公司名可切换其他公司
Core & Main, Inc.的季度营收约是帕森斯公司的1.3倍（$2.1B vs $1.6B），Core & Main, Inc.净利率更高（6.6% vs 3.5%，领先3.2%），Core & Main, Inc.同比增速更快（0.0% vs -7.5%），Core & Main, Inc.自由现金流更多（$263.0M vs $135.6M），过去两年Core & Main, Inc.的营收复合增速更高（19.7% vs 2.2%）
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。
帕森斯公司是一家总部位于美国弗吉尼亚州尚蒂利的跨国企业，1944年成立，核心业务覆盖国防、情报、基础设施工程领域，深耕技术研发，在全球30多个国家为政府及私营部门客户提供专业解决方案。
CNM vs PSN — 直观对比
营收规模更大
CNM
是对方的1.3倍
$1.6B
营收增速更快
CNM
高出7.5%
-7.5%
净利率更高
CNM
高出3.2%
3.5%
自由现金流更多
CNM
多$127.4M
$135.6M
两年增速更快
CNM
近两年复合增速
2.2%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $1.6B |
| 净利润 | $137.0M | $55.6M |
| 毛利率 | 27.2% | 23.0% |
| 营业利润率 | 10.7% | 6.6% |
| 净利率 | 6.6% | 3.5% |
| 营收同比 | 0.0% | -7.5% |
| 净利润同比 | 0.0% | -72.4% |
| 每股收益（稀释后） | $0.72 | $0.51 |
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CNMPSN
| Q4 25 | $2.1B | $1.6B | ||
| Q3 25 | $2.1B | $1.6B | ||
| Q2 25 | $1.9B | $1.6B | ||
| Q1 25 | $1.7B | $1.6B | ||
| Q4 24 | $2.0B | $1.7B | ||
| Q3 24 | $2.0B | $1.8B | ||
| Q2 24 | $1.7B | $1.7B | ||
| Q1 24 | $1.4B | $1.5B |
净利润CNMPSN
| Q4 25 | $137.0M | $55.6M | ||
| Q3 25 | $134.0M | $64.1M | ||
| Q2 25 | $100.0M | $55.2M | ||
| Q1 25 | $64.0M | $66.2M | ||
| Q4 24 | $133.0M | $201.3M | ||
| Q3 24 | $119.0M | $72.0M | ||
| Q2 24 | $95.0M | $69.2M | ||
| Q1 24 | $63.0M | $-107.4M |
毛利率CNMPSN
| Q4 25 | 27.2% | 23.0% | ||
| Q3 25 | 26.8% | 22.2% | ||
| Q2 25 | 26.7% | 22.0% | ||
| Q1 25 | 26.6% | 22.8% | ||
| Q4 24 | 26.6% | 21.3% | ||
| Q3 24 | 26.4% | 19.9% | ||
| Q2 24 | 26.9% | 21.0% | ||
| Q1 24 | 26.7% | 21.2% |
营业利润率CNMPSN
| Q4 25 | 10.7% | 6.6% | ||
| Q3 25 | 10.2% | 6.7% | ||
| Q2 25 | 8.9% | 6.0% | ||
| Q1 25 | 7.3% | 7.0% | ||
| Q4 24 | 10.9% | 5.8% | ||
| Q3 24 | 10.4% | 6.4% | ||
| Q2 24 | 9.6% | 6.7% | ||
| Q1 24 | 8.1% | 6.6% |
净利率CNMPSN
| Q4 25 | 6.6% | 3.5% | ||
| Q3 25 | 6.4% | 4.0% | ||
| Q2 25 | 5.2% | 3.5% | ||
| Q1 25 | 3.8% | 4.3% | ||
| Q4 24 | 6.5% | 11.6% | ||
| Q3 24 | 6.1% | 4.0% | ||
| Q2 24 | 5.5% | 4.1% | ||
| Q1 24 | 4.4% | -7.0% |
每股收益（稀释后）CNMPSN
| Q4 25 | $0.72 | $0.51 | ||
| Q3 25 | $0.70 | $0.59 | ||
| Q2 25 | $0.52 | $0.50 | ||
| Q1 25 | $0.34 | $0.60 | ||
| Q4 24 | $0.69 | $1.85 | ||
| Q3 24 | $0.61 | $0.65 | ||
| Q2 24 | $0.49 | $0.63 | ||
| Q1 24 | $0.34 | $-1.01 |
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 | $466.4M |
| 总债务越低越好 | — | $1.2B |
| 股东权益账面价值 | $2.0B | $2.6B |
| 总资产 | $6.3B | $5.8B |
| 负债/权益比越低杠杆越低 | — | 0.47× |
8季度趋势，按日历期对齐
现金及短期投资CNMPSN
| Q4 25 | $89.0M | $466.4M | ||
| Q3 25 | $25.0M | $422.6M | ||
| Q2 25 | $8.0M | $411.3M | ||
| Q1 25 | $8.0M | $269.7M | ||
| Q4 24 | $10.0M | $453.5M | ||
| Q3 24 | $13.0M | $558.8M | ||
| Q2 24 | $30.0M | $528.5M | ||
| Q1 24 | $1.0M | $423.1M |
总债务CNMPSN
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $785.2M | ||
| Q4 24 | — | $784.1M | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $1.2B |
股东权益CNMPSN
| Q4 25 | $2.0B | $2.6B | ||
| Q3 25 | $1.9B | $2.6B | ||
| Q2 25 | $1.7B | $2.5B | ||
| Q1 25 | $1.7B | $2.5B | ||
| Q4 24 | $1.7B | $2.4B | ||
| Q3 24 | $1.6B | $2.3B | ||
| Q2 24 | $1.6B | $2.2B | ||
| Q1 24 | $1.5B | $2.1B |
总资产CNMPSN
| Q4 25 | $6.3B | $5.8B | ||
| Q3 25 | $6.3B | $5.7B | ||
| Q2 25 | $6.3B | $5.7B | ||
| Q1 25 | $5.9B | $5.4B | ||
| Q4 24 | $6.2B | $5.5B | ||
| Q3 24 | $6.1B | $5.4B | ||
| Q2 24 | $6.0B | $5.2B | ||
| Q1 24 | $5.1B | $5.1B |
负债/权益比CNMPSN
| Q4 25 | — | 0.47× | ||
| Q3 25 | — | 0.48× | ||
| Q2 25 | — | 0.49× | ||
| Q1 25 | — | 0.32× | ||
| Q4 24 | — | 0.32× | ||
| Q3 24 | — | 0.49× | ||
| Q2 24 | — | 0.56× | ||
| Q1 24 | — | 0.58× |
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 | $167.5M |
| 自由现金流经营现金流 - 资本支出 | $263.0M | $135.6M |
| 自由现金流率自由现金流/营收 | 12.8% | 8.5% |
| 资本支出强度资本支出/营收 | 0.4% | 2.0% |
| 现金转化率经营现金流/净利润 | 1.98× | 3.01× |
| 过去12个月自由现金流最近4个季度 | $575.0M | $410.4M |
8季度趋势，按日历期对齐
经营现金流CNMPSN
| Q4 25 | $271.0M | $167.5M | ||
| Q3 25 | $34.0M | $162.8M | ||
| Q2 25 | $77.0M | $159.8M | ||
| Q1 25 | $235.0M | $-11.8M | ||
| Q4 24 | $260.0M | $126.8M | ||
| Q3 24 | $48.0M | $299.0M | ||
| Q2 24 | $78.0M | $161.2M | ||
| Q1 24 | $294.0M | $-63.4M |
自由现金流CNMPSN
| Q4 25 | $263.0M | $135.6M | ||
| Q3 25 | $24.0M | $149.7M | ||
| Q2 25 | $64.0M | $150.4M | ||
| Q1 25 | $224.0M | $-25.3M | ||
| Q4 24 | $252.0M | $108.0M | ||
| Q3 24 | $39.0M | $287.3M | ||
| Q2 24 | $71.0M | $152.0M | ||
| Q1 24 | $289.0M | $-72.9M |
自由现金流率CNMPSN
| Q4 25 | 12.8% | 8.5% | ||
| Q3 25 | 1.1% | 9.2% | ||
| Q2 25 | 3.3% | 9.5% | ||
| Q1 25 | 13.2% | -1.6% | ||
| Q4 24 | 12.4% | 6.2% | ||
| Q3 24 | 2.0% | 15.9% | ||
| Q2 24 | 4.1% | 9.1% | ||
| Q1 24 | 20.1% | -4.7% |
资本支出强度CNMPSN
| Q4 25 | 0.4% | 2.0% | ||
| Q3 25 | 0.5% | 0.8% | ||
| Q2 25 | 0.7% | 0.6% | ||
| Q1 25 | 0.6% | 0.9% | ||
| Q4 24 | 0.4% | 1.1% | ||
| Q3 24 | 0.5% | 0.6% | ||
| Q2 24 | 0.4% | 0.6% | ||
| Q1 24 | 0.3% | 0.6% |
现金转化率CNMPSN
| Q4 25 | 1.98× | 3.01× | ||
| Q3 25 | 0.25× | 2.54× | ||
| Q2 25 | 0.77× | 2.89× | ||
| Q1 25 | 3.67× | -0.18× | ||
| Q4 24 | 1.95× | 0.63× | ||
| Q3 24 | 0.40× | 4.16× | ||
| Q2 24 | 0.82× | 2.33× | ||
| Q1 24 | 4.67× | — |
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% |
PSN
| Unconsolidated Joint Ventures | $582.1M | 36% |
| Defense And Intelligence | $502.8M | 31% |
| Engineered Systems | $281.4M | 18% |
| Consolidated Joint Ventures | $216.7M | 14% |
| TRS Group Inc | $9.4M | 1% |
