vs
Core & Main, Inc.（CNM）与托尔工业（THO）财务数据对比。点击上方公司名可切换其他公司
托尔工业的季度营收约是Core & Main, Inc.的1.2倍（$2.4B vs $2.1B），Core & Main, Inc.净利率更高（6.6% vs 0.9%，领先5.7%），托尔工业同比增速更快（11.5% vs 0.0%），Core & Main, Inc.自由现金流更多（$263.0M vs $-74.8M），过去两年Core & Main, Inc.的营收复合增速更高（19.7% vs 4.0%）
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。
托尔工业是美国知名休闲房车（RV）生产商，旗下拥有Airstream、Heartland RV、Jayco等多个子品牌，主营拖挂式及自行式休闲房车的生产销售，总部位于印第安纳州埃尔克哈特，在密歇根、俄亥俄、爱达荷、俄勒冈等多个州设有生产基地。
CNM vs THO — 直观对比
营收规模更大
THO
是对方的1.2倍
$2.1B
营收增速更快
THO
高出11.5%
0.0%
净利率更高
CNM
高出5.7%
0.9%
自由现金流更多
CNM
多$337.8M
$-74.8M
两年增速更快
CNM
近两年复合增速
4.0%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $2.4B |
| 净利润 | $137.0M | $21.7M |
| 毛利率 | 27.2% | 13.4% |
| 营业利润率 | 10.7% | 1.4% |
| 净利率 | 6.6% | 0.9% |
| 营收同比 | 0.0% | 11.5% |
| 净利润同比 | 0.0% | 1282.8% |
| 每股收益（稀释后） | $0.72 | $0.41 |
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CNMTHO
| Q4 25 | $2.1B | $2.4B | ||
| Q3 25 | $2.1B | $2.5B | ||
| Q2 25 | $1.9B | $2.9B | ||
| Q1 25 | $1.7B | $2.0B | ||
| Q4 24 | $2.0B | $2.1B | ||
| Q3 24 | $2.0B | $2.5B | ||
| Q2 24 | $1.7B | $2.8B | ||
| Q1 24 | $1.4B | $2.2B |
净利润CNMTHO
| Q4 25 | $137.0M | $21.7M | ||
| Q3 25 | $134.0M | $125.8M | ||
| Q2 25 | $100.0M | $135.2M | ||
| Q1 25 | $64.0M | $-551.0K | ||
| Q4 24 | $133.0M | $-1.8M | ||
| Q3 24 | $119.0M | $90.0M | ||
| Q2 24 | $95.0M | $114.5M | ||
| Q1 24 | $63.0M | $7.2M |
毛利率CNMTHO
| Q4 25 | 27.2% | 13.4% | ||
| Q3 25 | 26.8% | 14.7% | ||
| Q2 25 | 26.7% | 15.3% | ||
| Q1 25 | 26.6% | 12.1% | ||
| Q4 24 | 26.6% | 13.1% | ||
| Q3 24 | 26.4% | 15.8% | ||
| Q2 24 | 26.9% | 15.1% | ||
| Q1 24 | 26.7% | 12.3% |
营业利润率CNMTHO
| Q4 25 | 10.7% | 1.4% | ||
| Q3 25 | 10.2% | 5.7% | ||
| Q2 25 | 8.9% | 5.4% | ||
| Q1 25 | 7.3% | -0.1% | ||
| Q4 24 | 10.9% | -0.1% | ||
| Q3 24 | 10.4% | 5.0% | ||
| Q2 24 | 9.6% | 5.1% | ||
| Q1 24 | 8.1% | 0.3% |
净利率CNMTHO
| Q4 25 | 6.6% | 0.9% | ||
| Q3 25 | 6.4% | 5.0% | ||
| Q2 25 | 5.2% | 4.7% | ||
| Q1 25 | 3.8% | -0.0% | ||
| Q4 24 | 6.5% | -0.1% | ||
| Q3 24 | 6.1% | 3.6% | ||
| Q2 24 | 5.5% | 4.1% | ||
| Q1 24 | 4.4% | 0.3% |
每股收益（稀释后）CNMTHO
| Q4 25 | $0.72 | $0.41 | ||
| Q3 25 | $0.70 | $2.35 | ||
| Q2 25 | $0.52 | $2.53 | ||
| Q1 25 | $0.34 | $-0.01 | ||
| Q4 24 | $0.69 | $-0.03 | ||
| Q3 24 | $0.61 | $1.69 | ||
| Q2 24 | $0.49 | $2.13 | ||
| Q1 24 | $0.34 | $0.13 |
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 | $509.9M |
| 总债务越低越好 | — | $916.0M |
| 股东权益账面价值 | $2.0B | $4.3B |
| 总资产 | $6.3B | $7.0B |
| 负债/权益比越低杠杆越低 | — | 0.21× |
8季度趋势，按日历期对齐
现金及短期投资CNMTHO
| Q4 25 | $89.0M | $509.9M | ||
| Q3 25 | $25.0M | $586.6M | ||
| Q2 25 | $8.0M | $508.3M | ||
| Q1 25 | $8.0M | $373.8M | ||
| Q4 24 | $10.0M | $445.2M | ||
| Q3 24 | $13.0M | $501.3M | ||
| Q2 24 | $30.0M | $371.8M | ||
| Q1 24 | $1.0M | $340.2M |
总债务CNMTHO
| Q4 25 | — | $916.0M | ||
| Q3 25 | — | $923.0M | ||
| Q2 25 | — | $1.0B | ||
| Q1 25 | — | $1.0B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $1.4B |
股东权益CNMTHO
| Q4 25 | $2.0B | $4.3B | ||
| Q3 25 | $1.9B | $4.3B | ||
| Q2 25 | $1.7B | $4.2B | ||
| Q1 25 | $1.7B | $4.0B | ||
| Q4 24 | $1.7B | $4.1B | ||
| Q3 24 | $1.6B | $4.1B | ||
| Q2 24 | $1.6B | $4.0B | ||
| Q1 24 | $1.5B | $3.9B |
总资产CNMTHO
| Q4 25 | $6.3B | $7.0B | ||
| Q3 25 | $6.3B | $7.1B | ||
| Q2 25 | $6.3B | $7.2B | ||
| Q1 25 | $5.9B | $6.7B | ||
| Q4 24 | $6.2B | $6.9B | ||
| Q3 24 | $6.1B | $7.0B | ||
| Q2 24 | $6.0B | $7.2B | ||
| Q1 24 | $5.1B | $7.2B |
负债/权益比CNMTHO
| Q4 25 | — | 0.21× | ||
| Q3 25 | — | 0.22× | ||
| Q2 25 | — | 0.24× | ||
| Q1 25 | — | 0.26× | ||
| Q4 24 | — | 0.27× | ||
| Q3 24 | — | 0.28× | ||
| Q2 24 | — | 0.31× | ||
| Q1 24 | — | 0.36× |
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 | $-44.9M |
| 自由现金流经营现金流 - 资本支出 | $263.0M | $-74.8M |
| 自由现金流率自由现金流/营收 | 12.8% | -3.1% |
| 资本支出强度资本支出/营收 | 0.4% | 1.3% |
| 现金转化率经营现金流/净利润 | 1.98× | -2.07× |
| 过去12个月自由现金流最近4个季度 | $575.0M | $375.1M |
8季度趋势，按日历期对齐
经营现金流CNMTHO
| Q4 25 | $271.0M | $-44.9M | ||
| Q3 25 | $34.0M | $258.7M | ||
| Q2 25 | $77.0M | $257.7M | ||
| Q1 25 | $235.0M | $30.8M | ||
| Q4 24 | $260.0M | $30.7M | ||
| Q3 24 | $48.0M | $338.0M | ||
| Q2 24 | $78.0M | $251.7M | ||
| Q1 24 | $294.0M | $-103.9M |
自由现金流CNMTHO
| Q4 25 | $263.0M | $-74.8M | ||
| Q3 25 | $24.0M | $221.6M | ||
| Q2 25 | $64.0M | $222.5M | ||
| Q1 25 | $224.0M | $5.8M | ||
| Q4 24 | $252.0M | $6.4M | ||
| Q3 24 | $39.0M | $301.3M | ||
| Q2 24 | $71.0M | $225.4M | ||
| Q1 24 | $289.0M | $-140.2M |
自由现金流率CNMTHO
| Q4 25 | 12.8% | -3.1% | ||
| Q3 25 | 1.1% | 8.8% | ||
| Q2 25 | 3.3% | 7.7% | ||
| Q1 25 | 13.2% | 0.3% | ||
| Q4 24 | 12.4% | 0.3% | ||
| Q3 24 | 2.0% | 11.9% | ||
| Q2 24 | 4.1% | 8.0% | ||
| Q1 24 | 20.1% | -6.4% |
资本支出强度CNMTHO
| Q4 25 | 0.4% | 1.3% | ||
| Q3 25 | 0.5% | 1.5% | ||
| Q2 25 | 0.7% | 1.2% | ||
| Q1 25 | 0.6% | 1.2% | ||
| Q4 24 | 0.4% | 1.1% | ||
| Q3 24 | 0.5% | 1.4% | ||
| Q2 24 | 0.4% | 0.9% | ||
| Q1 24 | 0.3% | 1.6% |
现金转化率CNMTHO
| Q4 25 | 1.98× | -2.07× | ||
| Q3 25 | 0.25× | 2.06× | ||
| Q2 25 | 0.77× | 1.91× | ||
| Q1 25 | 3.67× | — | ||
| Q4 24 | 1.95× | — | ||
| Q3 24 | 0.40× | 3.76× | ||
| Q2 24 | 0.82× | 2.20× | ||
| Q1 24 | 4.67× | -14.39× |
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% |
THO
| Other | $417.1M | 17% |
| Travel Trailers | $403.6M | 17% |
| Motorcaravan | $391.9M | 16% |
| Fifth Wheels Towables | $306.9M | 13% |
| Classc Motorized | $297.2M | 12% |
| Campervan | $188.3M | 8% |
| Classa Motorized | $169.9M | 7% |
| Classb Motorized | $110.0M | 5% |
| Other Rv Related | $70.0M | 3% |
| Caravan | $34.3M | 1% |
