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CSW INDUSTRIALS, INC.（CSW）与FIRST MERCHANTS CORP（FRME）财务数据对比。点击上方公司名可切换其他公司
CSW INDUSTRIALS, INC.的季度营收约是FIRST MERCHANTS CORP的1.5倍（$233.0M vs $157.1M），FIRST MERCHANTS CORP净利率更高（17.9% vs 4.4%，领先13.5%），过去两年CSW INDUSTRIALS, INC.的营收复合增速更高（5.1% vs -0.9%）
第一商人集团是总部位于美国印第安纳州曼西的金融控股公司，业务覆盖印第安纳州中部地区，旗下拥有第一商人银行、第一商人私人财富顾问两大板块，在纳斯达克上市，股票代码为FRME。截至2023年3月，集团总资产达182亿美元，为客户提供商业银行、个人银行及投资顾问服务。
CSW vs FRME — 直观对比
营收规模更大
CSW
是对方的1.5倍
$157.1M
净利率更高
FRME
高出13.5%
4.4%
两年增速更快
CSW
近两年复合增速
-0.9%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $233.0M | $157.1M |
| 净利润 | $10.3M | $28.2M |
| 毛利率 | 39.7% | — |
| 营业利润率 | 7.4% | — |
| 净利率 | 4.4% | 17.9% |
| 营收同比 | 20.3% | — |
| 净利润同比 | -61.9% | -49.1% |
| 每股收益（稀释后） | $0.62 | $0.45 |
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CSWFRME
| Q1 26 | — | $157.1M | ||
| Q4 25 | $233.0M | $172.2M | ||
| Q3 25 | $277.0M | $166.1M | ||
| Q2 25 | $263.6M | $164.3M | ||
| Q1 25 | $230.5M | $160.3M | ||
| Q4 24 | $193.6M | $177.1M | ||
| Q3 24 | $227.9M | $156.0M | ||
| Q2 24 | $226.2M | $159.9M |
净利润CSWFRME
| Q1 26 | — | $28.2M | ||
| Q4 25 | $10.3M | $57.1M | ||
| Q3 25 | $40.7M | $56.8M | ||
| Q2 25 | $40.9M | $56.8M | ||
| Q1 25 | $35.1M | $55.3M | ||
| Q4 24 | $26.9M | $64.3M | ||
| Q3 24 | $36.1M | $49.2M | ||
| Q2 24 | $38.6M | $39.9M |
毛利率CSWFRME
| Q1 26 | — | — | ||
| Q4 25 | 39.7% | — | ||
| Q3 25 | 43.0% | — | ||
| Q2 25 | 43.8% | — | ||
| Q1 25 | 44.2% | — | ||
| Q4 24 | 41.4% | — | ||
| Q3 24 | 45.6% | — | ||
| Q2 24 | 47.5% | — |
营业利润率CSWFRME
| Q1 26 | — | — | ||
| Q4 25 | 7.4% | 38.0% | ||
| Q3 25 | 20.5% | 39.3% | ||
| Q2 25 | 20.8% | 39.6% | ||
| Q1 25 | 19.5% | 39.4% | ||
| Q4 24 | 15.3% | 43.3% | ||
| Q3 24 | 22.6% | 36.1% | ||
| Q2 24 | 24.3% | 27.5% |
净利率CSWFRME
| Q1 26 | — | 17.9% | ||
| Q4 25 | 4.4% | 33.1% | ||
| Q3 25 | 14.7% | 34.2% | ||
| Q2 25 | 15.5% | 34.6% | ||
| Q1 25 | 15.2% | 34.5% | ||
| Q4 24 | 13.9% | 36.3% | ||
| Q3 24 | 15.8% | 31.5% | ||
| Q2 24 | 17.1% | 25.0% |
每股收益（稀释后）CSWFRME
| Q1 26 | — | $0.45 | ||
| Q4 25 | $0.62 | $0.98 | ||
| Q3 25 | $2.41 | $0.98 | ||
| Q2 25 | $2.43 | $0.98 | ||
| Q1 25 | $2.05 | $0.94 | ||
| Q4 24 | $1.60 | $1.09 | ||
| Q3 24 | $2.26 | $0.84 | ||
| Q2 24 | $2.47 | $0.68 |
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 | $40.2M | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.1B | $2.7B |
| 总资产 | $2.3B | $21.1B |
| 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CSWFRME
| Q1 26 | — | — | ||
| Q4 25 | $40.2M | — | ||
| Q3 25 | $31.5M | — | ||
| Q2 25 | $38.0M | — | ||
| Q1 25 | $225.8M | — | ||
| Q4 24 | $213.8M | — | ||
| Q3 24 | $273.2M | — | ||
| Q2 24 | $18.9M | — |
总债务CSWFRME
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $800.1M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益CSWFRME
| Q1 26 | — | $2.7B | ||
| Q4 25 | $1.1B | $2.5B | ||
| Q3 25 | $1.1B | $2.4B | ||
| Q2 25 | $1.1B | $2.3B | ||
| Q1 25 | $1.1B | $2.3B | ||
| Q4 24 | $1.0B | $2.3B | ||
| Q3 24 | $1.0B | $2.3B | ||
| Q2 24 | $650.2M | $2.2B |
总资产CSWFRME
| Q1 26 | — | $21.1B | ||
| Q4 25 | $2.3B | $19.0B | ||
| Q3 25 | $1.5B | $18.8B | ||
| Q2 25 | $1.5B | $18.6B | ||
| Q1 25 | $1.4B | $18.4B | ||
| Q4 24 | $1.4B | $18.3B | ||
| Q3 24 | $1.4B | $18.3B | ||
| Q2 24 | $1.1B | $18.3B |
负债/权益比CSWFRME
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.75× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $28.9M | — |
| 自由现金流经营现金流 - 资本支出 | $22.7M | — |
| 自由现金流率自由现金流/营收 | 9.8% | — |
| 资本支出强度资本支出/营收 | 2.6% | — |
| 现金转化率经营现金流/净利润 | 2.81× | — |
| 过去12个月自由现金流最近4个季度 | $162.0M | — |
8季度趋势，按日历期对齐
经营现金流CSWFRME
| Q1 26 | — | — | ||
| Q4 25 | $28.9M | $283.6M | ||
| Q3 25 | $61.8M | $87.6M | ||
| Q2 25 | $60.6M | $53.7M | ||
| Q1 25 | $27.3M | $61.7M | ||
| Q4 24 | $11.6M | $266.2M | ||
| Q3 24 | $66.8M | $76.8M | ||
| Q2 24 | $62.7M | $63.0M |
自由现金流CSWFRME
| Q1 26 | — | — | ||
| Q4 25 | $22.7M | — | ||
| Q3 25 | $58.7M | — | ||
| Q2 25 | $57.7M | — | ||
| Q1 25 | $22.8M | — | ||
| Q4 24 | $8.5M | — | ||
| Q3 24 | $61.3M | — | ||
| Q2 24 | $59.6M | — |
自由现金流率CSWFRME
| Q1 26 | — | — | ||
| Q4 25 | 9.8% | — | ||
| Q3 25 | 21.2% | — | ||
| Q2 25 | 21.9% | — | ||
| Q1 25 | 9.9% | — | ||
| Q4 24 | 4.4% | — | ||
| Q3 24 | 26.9% | — | ||
| Q2 24 | 26.3% | — |
资本支出强度CSWFRME
| Q1 26 | — | — | ||
| Q4 25 | 2.6% | — | ||
| Q3 25 | 1.1% | — | ||
| Q2 25 | 1.1% | — | ||
| Q1 25 | 2.0% | — | ||
| Q4 24 | 1.6% | — | ||
| Q3 24 | 2.4% | — | ||
| Q2 24 | 1.4% | — |
现金转化率CSWFRME
| Q1 26 | — | — | ||
| Q4 25 | 2.81× | 4.97× | ||
| Q3 25 | 1.52× | 1.54× | ||
| Q2 25 | 1.48× | 0.94× | ||
| Q1 25 | 0.78× | 1.11× | ||
| Q4 24 | 0.43× | 4.14× | ||
| Q3 24 | 1.85× | 1.56× | ||
| Q2 24 | 1.62× | 1.58× |
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
CSW
| Contractor Solutions Segment | $166.3M | 71% |
| Specialized Reliability Solutions Segment | $38.2M | 16% |
| Engineered Building Solutions Segment | $28.5M | 12% |
FRME
| Net Interest Income | $151.3M | 96% |
| Noninterest Income | $5.8M | 4% |
