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Core & Main, Inc.（CNM）与利氏兄弟拍卖行（RBA）财务数据对比。点击上方公司名可切换其他公司
Core & Main, Inc.的季度营收约是利氏兄弟拍卖行的1.7倍（$2.1B vs $1.2B），利氏兄弟拍卖行净利率更高（9.1% vs 6.6%，领先2.5%），利氏兄弟拍卖行同比增速更快（5.4% vs 0.0%），Core & Main, Inc.自由现金流更多（$263.0M vs $186.5M），过去两年Core & Main, Inc.的营收复合增速更高（19.7% vs 6.3%）
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。
利氏兄弟拍卖行（股票代码RBA）是全球知名的工业资产拍卖服务商，注册地位于加拿大，属公开上市企业，总部设在美国伊利诺伊州韦斯特切斯特，普通股同时在多伦多证券交易所与纽约证券交易所挂牌交易。
CNM vs RBA — 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
RBA
高出5.4%
0.0%
净利率更高
RBA
高出2.5%
6.6%
自由现金流更多
CNM
多$76.5M
$186.5M
两年增速更快
CNM
近两年复合增速
6.3%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $1.2B |
| 净利润 | $137.0M | $109.7M |
| 毛利率 | 27.2% | — |
| 营业利润率 | 10.7% | 14.7% |
| 净利率 | 6.6% | 9.1% |
| 营收同比 | 0.0% | 5.4% |
| 净利润同比 | 0.0% | -7.4% |
| 每股收益（稀释后） | $0.72 | $0.53 |
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CNMRBA
| Q4 25 | $2.1B | $1.2B | ||
| Q3 25 | $2.1B | $1.1B | ||
| Q2 25 | $1.9B | $1.2B | ||
| Q1 25 | $1.7B | $1.1B | ||
| Q4 24 | $2.0B | $1.1B | ||
| Q3 24 | $2.0B | $981.8M | ||
| Q2 24 | $1.7B | $1.1B | ||
| Q1 24 | $1.4B | $1.1B |
净利润CNMRBA
| Q4 25 | $137.0M | $109.7M | ||
| Q3 25 | $134.0M | $95.5M | ||
| Q2 25 | $100.0M | $109.8M | ||
| Q1 25 | $64.0M | $113.4M | ||
| Q4 24 | $133.0M | $118.5M | ||
| Q3 24 | $119.0M | $76.1M | ||
| Q2 24 | $95.0M | $111.1M | ||
| Q1 24 | $63.0M | $107.4M |
毛利率CNMRBA
| 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% | — | ||
| Q1 24 | 26.7% | — |
营业利润率CNMRBA
| Q4 25 | 10.7% | 14.7% | ||
| Q3 25 | 10.2% | 14.5% | ||
| Q2 25 | 8.9% | 15.9% | ||
| Q1 25 | 7.3% | 17.1% | ||
| Q4 24 | 10.9% | 18.1% | ||
| Q3 24 | 10.4% | 15.6% | ||
| Q2 24 | 9.6% | 18.4% | ||
| Q1 24 | 8.1% | 18.7% |
净利率CNMRBA
| Q4 25 | 6.6% | 9.1% | ||
| Q3 25 | 6.4% | 8.7% | ||
| Q2 25 | 5.2% | 9.3% | ||
| Q1 25 | 3.8% | 10.2% | ||
| Q4 24 | 6.5% | 10.4% | ||
| Q3 24 | 6.1% | 7.8% | ||
| Q2 24 | 5.5% | 10.1% | ||
| Q1 24 | 4.4% | 10.1% |
每股收益（稀释后）CNMRBA
| Q4 25 | $0.72 | $0.53 | ||
| Q3 25 | $0.70 | $0.43 | ||
| Q2 25 | $0.52 | $0.53 | ||
| Q1 25 | $0.34 | $0.55 | ||
| Q4 24 | $0.69 | $0.58 | ||
| Q3 24 | $0.61 | $0.36 | ||
| Q2 24 | $0.49 | $0.54 | ||
| Q1 24 | $0.34 | $0.53 |
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 | $531.5M |
| 总债务越低越好 | — | $2.3B |
| 股东权益账面价值 | $2.0B | $5.6B |
| 总资产 | $6.3B | $12.1B |
| 负债/权益比越低杠杆越低 | — | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资CNMRBA
| Q4 25 | $89.0M | $531.5M | ||
| Q3 25 | $25.0M | $674.7M | ||
| Q2 25 | $8.0M | $710.2M | ||
| Q1 25 | $8.0M | $578.1M | ||
| Q4 24 | $10.0M | $533.9M | ||
| Q3 24 | $13.0M | $650.7M | ||
| Q2 24 | $30.0M | $599.5M | ||
| Q1 24 | $1.0M | $462.8M |
总债务CNMRBA
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | — | $2.6B | ||
| Q1 25 | — | $2.6B | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | — | $2.7B | ||
| Q2 24 | — | $2.8B | ||
| Q1 24 | — | $2.9B |
股东权益CNMRBA
| Q4 25 | $2.0B | $5.6B | ||
| Q3 25 | $1.9B | $5.5B | ||
| Q2 25 | $1.7B | $5.5B | ||
| Q1 25 | $1.7B | $5.3B | ||
| Q4 24 | $1.7B | $5.2B | ||
| Q3 24 | $1.6B | $5.2B | ||
| Q2 24 | $1.6B | $5.2B | ||
| Q1 24 | $1.5B | $5.1B |
总资产CNMRBA
| Q4 25 | $6.3B | $12.1B | ||
| Q3 25 | $6.3B | $12.2B | ||
| Q2 25 | $6.3B | $12.2B | ||
| Q1 25 | $5.9B | $11.9B | ||
| Q4 24 | $6.2B | $11.8B | ||
| Q3 24 | $6.1B | $11.9B | ||
| Q2 24 | $6.0B | $12.1B | ||
| Q1 24 | $5.1B | $12.0B |
负债/权益比CNMRBA
| Q4 25 | — | 0.42× | ||
| Q3 25 | — | 0.47× | ||
| Q2 25 | — | 0.47× | ||
| Q1 25 | — | 0.50× | ||
| Q4 24 | — | 0.50× | ||
| Q3 24 | — | 0.52× | ||
| Q2 24 | — | 0.55× | ||
| 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 | $255.2M |
| 自由现金流经营现金流 - 资本支出 | $263.0M | $186.5M |
| 自由现金流率自由现金流/营收 | 12.8% | 15.5% |
| 资本支出强度资本支出/营收 | 0.4% | 5.7% |
| 现金转化率经营现金流/净利润 | 1.98× | 2.33× |
| 过去12个月自由现金流最近4个季度 | $575.0M | $719.2M |
8季度趋势，按日历期对齐
经营现金流CNMRBA
| Q4 25 | $271.0M | $255.2M | ||
| Q3 25 | $34.0M | $239.7M | ||
| Q2 25 | $77.0M | $326.5M | ||
| Q1 25 | $235.0M | $156.8M | ||
| Q4 24 | $260.0M | $184.5M | ||
| Q3 24 | $48.0M | $285.4M | ||
| Q2 24 | $78.0M | $337.3M | ||
| Q1 24 | $294.0M | $124.8M |
自由现金流CNMRBA
| Q4 25 | $263.0M | $186.5M | ||
| Q3 25 | $24.0M | $188.5M | ||
| Q2 25 | $64.0M | $241.7M | ||
| Q1 25 | $224.0M | $102.5M | ||
| Q4 24 | $252.0M | $127.9M | ||
| Q3 24 | $39.0M | $248.5M | ||
| Q2 24 | $71.0M | $308.6M | ||
| Q1 24 | $289.0M | $79.6M |
自由现金流率CNMRBA
| Q4 25 | 12.8% | 15.5% | ||
| Q3 25 | 1.1% | 17.3% | ||
| Q2 25 | 3.3% | 20.4% | ||
| Q1 25 | 13.2% | 9.2% | ||
| Q4 24 | 12.4% | 11.2% | ||
| Q3 24 | 2.0% | 25.3% | ||
| Q2 24 | 4.1% | 28.2% | ||
| Q1 24 | 20.1% | 7.5% |
资本支出强度CNMRBA
| Q4 25 | 0.4% | 5.7% | ||
| Q3 25 | 0.5% | 4.7% | ||
| Q2 25 | 0.7% | 7.2% | ||
| Q1 25 | 0.6% | 4.9% | ||
| Q4 24 | 0.4% | 5.0% | ||
| Q3 24 | 0.5% | 3.8% | ||
| Q2 24 | 0.4% | 2.6% | ||
| Q1 24 | 0.3% | 4.2% |
现金转化率CNMRBA
| Q4 25 | 1.98× | 2.33× | ||
| Q3 25 | 0.25× | 2.51× | ||
| Q2 25 | 0.77× | 2.97× | ||
| Q1 25 | 3.67× | 1.38× | ||
| Q4 24 | 1.95× | 1.56× | ||
| Q3 24 | 0.40× | 3.75× | ||
| Q2 24 | 0.82× | 3.04× | ||
| Q1 24 | 4.67× | 1.16× |
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% |
RBA
| Buyer Revenue | $577.2M | 48% |
| Seller Revenue | $255.2M | 21% |
| CA | $199.0M | 17% |
| Other | $124.7M | 10% |
| AU | $47.3M | 4% |
