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Core & Main, Inc.（CNM）与WHITE MOUNTAINS INSURANCE GROUP LTD（WTM）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WHITE MOUNTAINS INSURANCE GROUP LTD的1.3倍（$2.1B vs $1.6B），WHITE MOUNTAINS INSURANCE GROUP LTD净利率更高（52.1% vs 6.6%，领先45.5%），WHITE MOUNTAINS INSURANCE GROUP LTD同比增速更快（348.0% vs 0.0%），过去两年WHITE MOUNTAINS INSURANCE GROUP LTD的营收复合增速更高（57.4% 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。
怀特山保险集团是一家多元化保险及相关金融服务控股企业，总部位于百慕大汉密尔顿，1999年10月25日从美国特拉华州迁册至当前注册地，大部分业务通过旗下保险子公司及其他关联机构开展，覆盖多个保险及金融服务细分赛道。
CNM vs WTM — 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
WTM
高出348.0%
0.0%
净利率更高
WTM
高出45.5%
6.6%
两年增速更快
WTM
近两年复合增速
19.7%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $1.6B |
| 净利润 | $137.0M | $835.8M |
| 毛利率 | 27.2% | 97.1% |
| 营业利润率 | 10.7% | 56.2% |
| 净利率 | 6.6% | 52.1% |
| 营收同比 | 0.0% | 348.0% |
| 净利润同比 | 0.0% | 741.0% |
| 每股收益（稀释后） | $0.72 | $325.02 |
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CNMWTM
| Q4 25 | $2.1B | $1.6B | ||
| Q3 25 | $2.1B | $864.2M | ||
| Q2 25 | $1.9B | $689.2M | ||
| Q1 25 | $1.7B | $577.8M | ||
| Q4 24 | $2.0B | $358.0M | ||
| Q3 24 | $2.0B | $839.1M | ||
| Q2 24 | $1.7B | $395.4M | ||
| Q1 24 | $1.4B | $647.3M |
净利润CNMWTM
| Q4 25 | $137.0M | $835.8M | ||
| Q3 25 | $134.0M | $113.8M | ||
| Q2 25 | $100.0M | $122.9M | ||
| Q1 25 | $64.0M | $33.9M | ||
| Q4 24 | $133.0M | $-130.4M | ||
| Q3 24 | $119.0M | $179.0M | ||
| Q2 24 | $95.0M | $-54.6M | ||
| Q1 24 | $63.0M | $236.4M |
毛利率CNMWTM
| Q4 25 | 27.2% | 97.1% | ||
| Q3 25 | 26.8% | 93.6% | ||
| Q2 25 | 26.7% | 93.8% | ||
| Q1 25 | 26.6% | 98.7% | ||
| Q4 24 | 26.6% | 97.9% | ||
| Q3 24 | 26.4% | 99.1% | ||
| Q2 24 | 26.9% | 98.2% | ||
| Q1 24 | 26.7% | 98.8% |
营业利润率CNMWTM
| Q4 25 | 10.7% | 56.2% | ||
| Q3 25 | 10.2% | 20.7% | ||
| Q2 25 | 8.9% | 25.6% | ||
| Q1 25 | 7.3% | 12.5% | ||
| Q4 24 | 10.9% | -33.7% | ||
| Q3 24 | 10.4% | 28.5% | ||
| Q2 24 | 9.6% | -8.8% | ||
| Q1 24 | 8.1% | 35.9% |
净利率CNMWTM
| Q4 25 | 6.6% | 52.1% | ||
| Q3 25 | 6.4% | 13.2% | ||
| Q2 25 | 5.2% | 17.8% | ||
| Q1 25 | 3.8% | 5.9% | ||
| Q4 24 | 6.5% | -36.4% | ||
| Q3 24 | 6.1% | 21.3% | ||
| Q2 24 | 5.5% | -13.8% | ||
| Q1 24 | 4.4% | 36.5% |
每股收益（稀释后）CNMWTM
| Q4 25 | $0.72 | $325.02 | ||
| Q3 25 | $0.70 | $44.18 | ||
| Q2 25 | $0.52 | $47.75 | ||
| Q1 25 | $0.34 | $13.19 | ||
| Q4 24 | $0.69 | $-50.98 | ||
| Q3 24 | $0.61 | $69.68 | ||
| Q2 24 | $0.49 | $-21.24 | ||
| Q1 24 | $0.34 | $92.33 |
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 | — |
| 总债务越低越好 | — | $837.0M |
| 股东权益账面价值 | $2.0B | $5.4B |
| 总资产 | $6.3B | $12.3B |
| 负债/权益比越低杠杆越低 | — | 0.15× |
8季度趋势，按日历期对齐
现金及短期投资CNMWTM
| Q4 25 | $89.0M | — | ||
| Q3 25 | $25.0M | — | ||
| Q2 25 | $8.0M | — | ||
| Q1 25 | $8.0M | — | ||
| Q4 24 | $10.0M | — | ||
| Q3 24 | $13.0M | — | ||
| Q2 24 | $30.0M | — | ||
| Q1 24 | $1.0M | — |
总债务CNMWTM
| Q4 25 | — | $837.0M | ||
| Q3 25 | — | $870.4M | ||
| Q2 25 | — | $694.6M | ||
| Q1 25 | — | $676.1M | ||
| Q4 24 | — | $562.5M | ||
| Q3 24 | — | $544.9M | ||
| Q2 24 | — | $530.2M | ||
| Q1 24 | — | $532.1M |
股东权益CNMWTM
| Q4 25 | $2.0B | $5.4B | ||
| Q3 25 | $1.9B | $4.8B | ||
| Q2 25 | $1.7B | $4.6B | ||
| Q1 25 | $1.7B | $4.5B | ||
| Q4 24 | $1.7B | $4.5B | ||
| Q3 24 | $1.6B | $4.6B | ||
| Q2 24 | $1.6B | $4.4B | ||
| Q1 24 | $1.5B | $4.5B |
总资产CNMWTM
| Q4 25 | $6.3B | $12.3B | ||
| Q3 25 | $6.3B | $12.3B | ||
| Q2 25 | $6.3B | $11.8B | ||
| Q1 25 | $5.9B | $11.0B | ||
| Q4 24 | $6.2B | $9.9B | ||
| Q3 24 | $6.1B | $10.3B | ||
| Q2 24 | $6.0B | $10.2B | ||
| Q1 24 | $5.1B | $9.6B |
负债/权益比CNMWTM
| Q4 25 | — | 0.15× | ||
| Q3 25 | — | 0.18× | ||
| Q2 25 | — | 0.15× | ||
| Q1 25 | — | 0.15× | ||
| Q4 24 | — | 0.13× | ||
| Q3 24 | — | 0.12× | ||
| Q2 24 | — | 0.12× | ||
| Q1 24 | — | 0.12× |
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 | $53.9M |
| 自由现金流经营现金流 - 资本支出 | $263.0M | — |
| 自由现金流率自由现金流/营收 | 12.8% | — |
| 资本支出强度资本支出/营收 | 0.4% | — |
| 现金转化率经营现金流/净利润 | 1.98× | 0.06× |
| 过去12个月自由现金流最近4个季度 | $575.0M | — |
8季度趋势，按日历期对齐
经营现金流CNMWTM
| Q4 25 | $271.0M | $53.9M | ||
| Q3 25 | $34.0M | $359.3M | ||
| Q2 25 | $77.0M | $177.5M | ||
| Q1 25 | $235.0M | $-40.2M | ||
| Q4 24 | $260.0M | $64.1M | ||
| Q3 24 | $48.0M | $269.4M | ||
| Q2 24 | $78.0M | $216.8M | ||
| Q1 24 | $294.0M | $36.5M |
自由现金流CNMWTM
| Q4 25 | $263.0M | — | ||
| Q3 25 | $24.0M | — | ||
| Q2 25 | $64.0M | — | ||
| Q1 25 | $224.0M | — | ||
| Q4 24 | $252.0M | — | ||
| Q3 24 | $39.0M | — | ||
| Q2 24 | $71.0M | — | ||
| Q1 24 | $289.0M | — |
自由现金流率CNMWTM
| Q4 25 | 12.8% | — | ||
| Q3 25 | 1.1% | — | ||
| Q2 25 | 3.3% | — | ||
| Q1 25 | 13.2% | — | ||
| Q4 24 | 12.4% | — | ||
| Q3 24 | 2.0% | — | ||
| Q2 24 | 4.1% | — | ||
| Q1 24 | 20.1% | — |
资本支出强度CNMWTM
| Q4 25 | 0.4% | — | ||
| Q3 25 | 0.5% | — | ||
| Q2 25 | 0.7% | — | ||
| Q1 25 | 0.6% | — | ||
| Q4 24 | 0.4% | — | ||
| Q3 24 | 0.5% | — | ||
| Q2 24 | 0.4% | — | ||
| Q1 24 | 0.3% | — |
现金转化率CNMWTM
| Q4 25 | 1.98× | 0.06× | ||
| Q3 25 | 0.25× | 3.16× | ||
| Q2 25 | 0.77× | 1.44× | ||
| Q1 25 | 3.67× | -1.19× | ||
| Q4 24 | 1.95× | — | ||
| Q3 24 | 0.40× | 1.51× | ||
| Q2 24 | 0.82× | — | ||
| Q1 24 | 4.67× | 0.15× |
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% |
WTM
暂无分部数据
