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PC CONNECTION INC（CNXN）与巴诺书店（NE）财务数据对比。点击上方公司名可切换其他公司
巴诺书店的季度营收约是PC CONNECTION INC的1.1倍（$764.4M vs $702.9M），巴诺书店净利率更高（11.3% vs 2.9%，领先8.4%），PC CONNECTION INC同比增速更快（-0.8% vs -17.6%），巴诺书店自由现金流更多（$35.4M vs $25.2M），过去两年巴诺书店的营收复合增速更高（9.5% vs 5.5%）
PC Connection Inc.（商用名称为Connection）总部位于美国新罕布什尔州梅里马克，现有员工超2600人，在售产品超过46万种，是一家深耕IT相关产品供应与服务的企业，为不同客户群体提供多元的产品选择与配套支持。
巴诺书店是美国知名连锁图书零售企业，拥有全美数量最多的实体零售网点，目前在美国境内共运营超过700家线下门店，为消费者提供各类书籍、文创产品及相关文化消费服务。
CNXN vs NE — 直观对比
营收规模更大
NE
是对方的1.1倍
$702.9M
营收增速更快
CNXN
高出16.7%
-17.6%
净利率更高
NE
高出8.4%
2.9%
自由现金流更多
NE
多$10.1M
$25.2M
两年增速更快
NE
近两年复合增速
5.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $702.9M | $764.4M |
| 净利润 | $20.7M | $86.6M |
| 毛利率 | 19.3% | — |
| 营业利润率 | 3.4% | 5.6% |
| 净利率 | 2.9% | 11.3% |
| 营收同比 | -0.8% | -17.6% |
| 净利润同比 | -0.0% | -10.4% |
| 每股收益（稀释后） | $0.82 | $0.54 |
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CNXNNE
| Q4 25 | $702.9M | $764.4M | ||
| Q3 25 | $709.1M | $798.0M | ||
| Q2 25 | $759.7M | $848.7M | ||
| Q1 25 | $701.0M | $874.5M | ||
| Q4 24 | $708.9M | $927.3M | ||
| Q3 24 | $724.7M | $800.5M | ||
| Q2 24 | $736.5M | $692.8M | ||
| Q1 24 | $632.0M | $637.1M |
净利润CNXNNE
| Q4 25 | $20.7M | $86.6M | ||
| Q3 25 | $24.7M | $-21.1M | ||
| Q2 25 | $24.8M | $42.9M | ||
| Q1 25 | $13.5M | $108.3M | ||
| Q4 24 | $20.7M | $96.6M | ||
| Q3 24 | $27.1M | $61.2M | ||
| Q2 24 | $26.2M | $195.0M | ||
| Q1 24 | $13.2M | $95.5M |
毛利率CNXNNE
| Q4 25 | 19.3% | — | ||
| Q3 25 | 19.6% | — | ||
| Q2 25 | 18.1% | — | ||
| Q1 25 | 18.2% | — | ||
| Q4 24 | 18.3% | — | ||
| Q3 24 | 18.7% | — | ||
| Q2 24 | 18.5% | — | ||
| Q1 24 | 18.7% | — |
营业利润率CNXNNE
| Q4 25 | 3.4% | 5.6% | ||
| Q3 25 | 4.3% | 6.3% | ||
| Q2 25 | 4.1% | 15.9% | ||
| Q1 25 | 2.1% | 21.4% | ||
| Q4 24 | 3.2% | 18.4% | ||
| Q3 24 | 4.1% | 14.4% | ||
| Q2 24 | 4.2% | 30.3% | ||
| Q1 24 | 2.1% | 16.9% |
净利率CNXNNE
| Q4 25 | 2.9% | 11.3% | ||
| Q3 25 | 3.5% | -2.6% | ||
| Q2 25 | 3.3% | 5.1% | ||
| Q1 25 | 1.9% | 12.4% | ||
| Q4 24 | 2.9% | 10.4% | ||
| Q3 24 | 3.7% | 7.6% | ||
| Q2 24 | 3.6% | 28.1% | ||
| Q1 24 | 2.1% | 15.0% |
每股收益（稀释后）CNXNNE
| Q4 25 | $0.82 | $0.54 | ||
| Q3 25 | $0.97 | $-0.13 | ||
| Q2 25 | $0.97 | $0.27 | ||
| Q1 25 | $0.51 | $0.67 | ||
| Q4 24 | $0.78 | $0.56 | ||
| Q3 24 | $1.02 | $0.40 | ||
| Q2 24 | $0.99 | $1.34 | ||
| Q1 24 | $0.50 | $0.66 |
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 | $406.7M | $471.4M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $910.1M | $4.5B |
| 总资产 | $1.4B | $7.5B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资CNXNNE
| Q4 25 | $406.7M | $471.4M | ||
| Q3 25 | $399.2M | $477.9M | ||
| Q2 25 | $346.1M | $338.2M | ||
| Q1 25 | $340.3M | $303.8M | ||
| Q4 24 | $442.6M | $247.3M | ||
| Q3 24 | $429.1M | $391.9M | ||
| Q2 24 | $385.8M | $162.9M | ||
| Q1 24 | $352.0M | $212.5M |
股东权益CNXNNE
| Q4 25 | $910.1M | $4.5B | ||
| Q3 25 | $902.7M | $4.5B | ||
| Q2 25 | $884.8M | $4.6B | ||
| Q1 25 | $877.0M | $4.7B | ||
| Q4 24 | $911.0M | $4.7B | ||
| Q3 24 | $897.4M | $4.7B | ||
| Q2 24 | $874.9M | $4.0B | ||
| Q1 24 | $852.7M | $3.9B |
总资产CNXNNE
| Q4 25 | $1.4B | $7.5B | ||
| Q3 25 | $1.3B | $7.6B | ||
| Q2 25 | $1.3B | $7.7B | ||
| Q1 25 | $1.2B | $7.9B | ||
| Q4 24 | $1.3B | $8.0B | ||
| Q3 24 | $1.3B | $8.0B | ||
| Q2 24 | $1.3B | $5.6B | ||
| Q1 24 | $1.2B | $5.4B |
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 | $27.4M | $187.1M |
| 自由现金流经营现金流 - 资本支出 | $25.2M | $35.4M |
| 自由现金流率自由现金流/营收 | 3.6% | 4.6% |
| 资本支出强度资本支出/营收 | 0.3% | 19.9% |
| 现金转化率经营现金流/净利润 | 1.32× | 2.16× |
| 过去12个月自由现金流最近4个季度 | $58.0M | $432.2M |
8季度趋势，按日历期对齐
经营现金流CNXNNE
| Q4 25 | $27.4M | $187.1M | ||
| Q3 25 | $64.1M | $277.1M | ||
| Q2 25 | $26.3M | $216.4M | ||
| Q1 25 | $-52.4M | $271.1M | ||
| Q4 24 | $25.2M | $136.2M | ||
| Q3 24 | $52.9M | $283.8M | ||
| Q2 24 | $38.4M | $106.8M | ||
| Q1 24 | $57.3M | $128.7M |
自由现金流CNXNNE
| Q4 25 | $25.2M | $35.4M | ||
| Q3 25 | $62.3M | $139.5M | ||
| Q2 25 | $24.6M | $99.8M | ||
| Q1 25 | $-54.1M | $157.5M | ||
| Q4 24 | $22.9M | $-4.4M | ||
| Q3 24 | $51.2M | $156.8M | ||
| Q2 24 | $36.6M | $-34.3M | ||
| Q1 24 | $55.7M | $-37.9M |
自由现金流率CNXNNE
| Q4 25 | 3.6% | 4.6% | ||
| Q3 25 | 8.8% | 17.5% | ||
| Q2 25 | 3.2% | 11.8% | ||
| Q1 25 | -7.7% | 18.0% | ||
| Q4 24 | 3.2% | -0.5% | ||
| Q3 24 | 7.1% | 19.6% | ||
| Q2 24 | 5.0% | -4.9% | ||
| Q1 24 | 8.8% | -6.0% |
资本支出强度CNXNNE
| Q4 25 | 0.3% | 19.9% | ||
| Q3 25 | 0.3% | 17.3% | ||
| Q2 25 | 0.2% | 13.7% | ||
| Q1 25 | 0.2% | 13.0% | ||
| Q4 24 | 0.3% | 15.2% | ||
| Q3 24 | 0.2% | 15.9% | ||
| Q2 24 | 0.2% | 20.4% | ||
| Q1 24 | 0.3% | 26.2% |
现金转化率CNXNNE
| Q4 25 | 1.32× | 2.16× | ||
| Q3 25 | 2.59× | — | ||
| Q2 25 | 1.06× | 5.05× | ||
| Q1 25 | -3.89× | 2.50× | ||
| Q4 24 | 1.22× | 1.41× | ||
| Q3 24 | 1.96× | 4.64× | ||
| Q2 24 | 1.47× | 0.55× | ||
| Q1 24 | 4.35× | 1.35× |
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
CNXN
| Small And Medium Sized Businesses Segment | $273.5M | 39% |
| Notebooks And Mobility | $108.6M | 15% |
| Public Sector | $90.8M | 13% |
| Accessories | $46.4M | 7% |
| Desktops | $44.5M | 6% |
| Displays And Sounds | $37.1M | 5% |
| Software | $32.3M | 5% |
| Other Hardware And Services | $30.7M | 4% |
| Net And Com | $21.4M | 3% |
| Servers And Storage | $17.6M | 3% |
NE
| Floaters | $559.8M | 73% |
| Jackups | $145.5M | 19% |
| Service Other | $59.1M | 8% |
