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Cintas（CTAS）与WATSCO INC（WSO）财务数据对比。点击上方公司名可切换其他公司
Cintas的季度营收约是WATSCO INC的1.8倍（$2.8B vs $1.6B），Cintas净利率更高（17.7% vs 4.5%，领先13.1%），Cintas同比增速更快（9.3% vs -10.0%），Cintas自由现金流更多（$425.0M vs $388.5M），过去两年Cintas的营收复合增速更高（7.9% vs 0.4%）
美国Cintas公司总部位于俄亥俄州梅森市，面向各类企业客户提供制服、地垫、拖把、清洁及卫浴用品、急救安全产品、灭火器检测服务、安全培训课程等多元产品及服务，在纳斯达克全球精选市场上市，股票代码CTAS，是标普500指数成分股。
Watsco Inc.是美国暖通空调、供暖及制冷（HVAC/R）设备及相关零部件、耗材的专业分销商。公司成立至今已超60年，最初主营HVAC/R行业相关零部件、工具制造业务，1989年通过收购佛罗里达州南部的瑞姆品牌分销商Gemaire Distributors Inc，正式从制造赛道转向分销领域。
CTAS vs WSO — 直观对比
营收规模更大
CTAS
是对方的1.8倍
$1.6B
营收增速更快
CTAS
高出19.3%
-10.0%
净利率更高
CTAS
高出13.1%
4.5%
自由现金流更多
CTAS
多$36.5M
$388.5M
两年增速更快
CTAS
近两年复合增速
0.4%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $1.6B |
| 净利润 | $495.3M | $71.7M |
| 毛利率 | 50.4% | 27.1% |
| 营业利润率 | 23.4% | 6.4% |
| 净利率 | 17.7% | 4.5% |
| 营收同比 | 9.3% | -10.0% |
| 净利润同比 | 10.4% | -25.9% |
| 每股收益（稀释后） | $1.21 | $1.82 |
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CTASWSO
| Q4 25 | $2.8B | $1.6B | ||
| Q3 25 | $2.7B | $2.1B | ||
| Q2 25 | $2.7B | $2.1B | ||
| Q1 25 | $2.6B | $1.5B | ||
| Q4 24 | $2.6B | $1.8B | ||
| Q3 24 | $2.5B | $2.2B | ||
| Q2 24 | $2.5B | $2.1B | ||
| Q1 24 | $2.4B | $1.6B |
净利润CTASWSO
| Q4 25 | $495.3M | $71.7M | ||
| Q3 25 | $491.1M | $161.6M | ||
| Q2 25 | $448.3M | $183.6M | ||
| Q1 25 | $463.5M | $80.1M | ||
| Q4 24 | $448.5M | $96.8M | ||
| Q3 24 | $452.0M | $171.0M | ||
| Q2 24 | $414.3M | $181.4M | ||
| Q1 24 | $397.6M | $87.0M |
毛利率CTASWSO
| Q4 25 | 50.4% | 27.1% | ||
| Q3 25 | 50.3% | 27.5% | ||
| Q2 25 | 49.7% | 29.3% | ||
| Q1 25 | 50.6% | 28.1% | ||
| Q4 24 | 49.8% | 26.7% | ||
| Q3 24 | 50.1% | 26.2% | ||
| Q2 24 | — | 27.1% | ||
| Q1 24 | — | 27.5% |
营业利润率CTASWSO
| Q4 25 | 23.4% | 6.4% | ||
| Q3 25 | 22.7% | 11.4% | ||
| Q2 25 | 22.4% | 13.2% | ||
| Q1 25 | 23.4% | 7.3% | ||
| Q4 24 | 23.1% | 7.8% | ||
| Q3 24 | 22.4% | 11.6% | ||
| Q2 24 | 22.2% | 12.6% | ||
| Q1 24 | 21.6% | 8.1% |
净利率CTASWSO
| Q4 25 | 17.7% | 4.5% | ||
| Q3 25 | 18.1% | 7.8% | ||
| Q2 25 | 16.8% | 8.9% | ||
| Q1 25 | 17.8% | 5.2% | ||
| Q4 24 | 17.5% | 5.5% | ||
| Q3 24 | 18.1% | 7.9% | ||
| Q2 24 | 16.8% | 8.5% | ||
| Q1 24 | 16.5% | 5.6% |
每股收益（稀释后）CTASWSO
| Q4 25 | $1.21 | $1.82 | ||
| Q3 25 | $1.20 | $3.98 | ||
| Q2 25 | $1.08 | $4.52 | ||
| Q1 25 | $1.13 | $1.93 | ||
| Q4 24 | $1.09 | $2.42 | ||
| Q3 24 | $1.10 | $4.22 | ||
| Q2 24 | $4.00 | $4.49 | ||
| Q1 24 | $3.84 | $2.17 |
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 | $200.8M | $733.3M |
| 总债务越低越好 | $2.4B | $361.6M |
| 股东权益账面价值 | $4.5B | $2.8B |
| 总资产 | $10.1B | $4.4B |
| 负债/权益比越低杠杆越低 | 0.54× | 0.13× |
8季度趋势，按日历期对齐
现金及短期投资CTASWSO
| Q4 25 | $200.8M | $733.3M | ||
| Q3 25 | $138.1M | $524.3M | ||
| Q2 25 | $264.0M | $293.0M | ||
| Q1 25 | $243.4M | $431.8M | ||
| Q4 24 | $122.4M | $781.9M | ||
| Q3 24 | $101.4M | $550.0M | ||
| Q2 24 | $342.0M | $424.9M | ||
| Q1 24 | $128.5M | $478.9M |
总债务CTASWSO
| Q4 25 | $2.4B | $361.6M | ||
| Q3 25 | $2.4B | $340.8M | ||
| Q2 25 | $2.4B | $338.7M | ||
| Q1 25 | $2.0B | $346.4M | ||
| Q4 24 | $2.0B | $337.2M | ||
| Q3 24 | $2.0B | $321.0M | ||
| Q2 24 | $2.0B | $307.1M | ||
| Q1 24 | $2.5B | $306.3M |
股东权益CTASWSO
| Q4 25 | $4.5B | $2.8B | ||
| Q3 25 | $4.8B | $2.8B | ||
| Q2 25 | $4.7B | $2.8B | ||
| Q1 25 | $4.6B | $2.7B | ||
| Q4 24 | $4.3B | $2.7B | ||
| Q3 24 | $4.0B | $2.7B | ||
| Q2 24 | $4.3B | $2.6B | ||
| Q1 24 | $4.2B | $2.5B |
总资产CTASWSO
| Q4 25 | $10.1B | $4.4B | ||
| Q3 25 | $9.8B | $4.6B | ||
| Q2 25 | $9.8B | $4.7B | ||
| Q1 25 | $9.6B | $4.5B | ||
| Q4 24 | $9.4B | $4.5B | ||
| Q3 24 | $9.1B | $4.5B | ||
| Q2 24 | $9.2B | $4.4B | ||
| Q1 24 | $9.0B | $4.4B |
负债/权益比CTASWSO
| Q4 25 | 0.54× | 0.13× | ||
| Q3 25 | 0.51× | 0.12× | ||
| Q2 25 | 0.52× | 0.12× | ||
| Q1 25 | 0.44× | 0.13× | ||
| Q4 24 | 0.47× | 0.13× | ||
| Q3 24 | 0.50× | 0.12× | ||
| Q2 24 | 0.47× | 0.12× | ||
| Q1 24 | 0.58× | 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 | $531.2M | $399.8M |
| 自由现金流经营现金流 - 资本支出 | $425.0M | $388.5M |
| 自由现金流率自由现金流/营收 | 15.2% | 24.6% |
| 资本支出强度资本支出/营收 | 3.8% | 0.7% |
| 现金转化率经营现金流/净利润 | 1.07× | 5.57× |
| 过去12个月自由现金流最近4个季度 | $1.8B | $535.1M |
8季度趋势，按日历期对齐
经营现金流CTASWSO
| Q4 25 | $531.2M | $399.8M | ||
| Q3 25 | $414.5M | $354.9M | ||
| Q2 25 | $635.7M | $-7.4M | ||
| Q1 25 | $622.0M | $-177.6M | ||
| Q4 24 | $441.4M | $378.9M | ||
| Q3 24 | $466.7M | $232.8M | ||
| Q2 24 | $693.0M | $57.7M | ||
| Q1 24 | $657.1M | $103.7M |
自由现金流CTASWSO
| Q4 25 | $425.0M | $388.5M | ||
| Q3 25 | $312.5M | $346.1M | ||
| Q2 25 | $521.1M | $-14.3M | ||
| Q1 25 | $522.1M | $-185.2M | ||
| Q4 24 | $340.0M | $370.9M | ||
| Q3 24 | $373.8M | $223.0M | ||
| Q2 24 | $591.1M | $51.3M | ||
| Q1 24 | $550.1M | $97.9M |
自由现金流率CTASWSO
| Q4 25 | 15.2% | 24.6% | ||
| Q3 25 | 11.5% | 16.7% | ||
| Q2 25 | 19.5% | -0.7% | ||
| Q1 25 | 20.0% | -12.1% | ||
| Q4 24 | 13.3% | 21.1% | ||
| Q3 24 | 14.9% | 10.3% | ||
| Q2 24 | 23.9% | 2.4% | ||
| Q1 24 | 22.9% | 6.3% |
资本支出强度CTASWSO
| Q4 25 | 3.8% | 0.7% | ||
| Q3 25 | 3.8% | 0.4% | ||
| Q2 25 | 4.3% | 0.3% | ||
| Q1 25 | 3.8% | 0.5% | ||
| Q4 24 | 4.0% | 0.5% | ||
| Q3 24 | 3.7% | 0.5% | ||
| Q2 24 | 4.1% | 0.3% | ||
| Q1 24 | 4.4% | 0.4% |
现金转化率CTASWSO
| Q4 25 | 1.07× | 5.57× | ||
| Q3 25 | 0.84× | 2.20× | ||
| Q2 25 | 1.42× | -0.04× | ||
| Q1 25 | 1.34× | -2.22× | ||
| Q4 24 | 0.98× | 3.91× | ||
| Q3 24 | 1.03× | 1.36× | ||
| Q2 24 | 1.67× | 0.32× | ||
| Q1 24 | 1.65× | 1.19× |
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
CTAS
| Uniform Rental And Facility Services Segment | $2.2B | 77% |
| First Aid And Safety Services Segment | $342.2M | 12% |
| Fire Protection Services | $222.5M | 8% |
| Uniform Direct Sales | $79.8M | 3% |
WSO
暂无分部数据
