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Camping World Holdings, Inc.（CWH）与IES Holdings, Inc.（IESC）财务数据对比。点击上方公司名可切换其他公司
Camping World Holdings, Inc.的季度营收约是IES Holdings, Inc.的1.3倍（$1.2B vs $871.0M），IES Holdings, Inc.净利率更高（10.5% vs -9.3%，领先19.8%），IES Holdings, Inc.同比增速更快（16.2% vs -2.6%），过去两年IES Holdings, Inc.的营收复合增速更高（11.1% vs -7.2%）
露营世界控股公司是美国知名露营房车行业企业，总部位于伊利诺伊州林肯郡，主营休闲房车销售、房车配件供应及售后维保服务，同时也售卖各类露营装备。目前公司在全美共设有202家线下门店，除线下门店经营外，还通过电话等渠道开展零售业务，2016年10月完成首次公开募股上市，募资2.51亿美元。
IES Holdings, Inc.前身为Integrated Electrical Services, Inc.，主营业务为集成电气及技术系统的设计与安装，同时面向数据中心、住宅、商业和工业设施等多元终端市场提供基础设施类产品及相关服务。
CWH vs IESC — 直观对比
营收规模更大
CWH
是对方的1.3倍
$871.0M
营收增速更快
IESC
高出18.8%
-2.6%
净利率更高
IESC
高出19.8%
-9.3%
两年增速更快
IESC
近两年复合增速
-7.2%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $871.0M |
| 净利润 | $-109.1M | $91.8M |
| 毛利率 | 28.8% | 25.3% |
| 营业利润率 | -4.3% | 11.2% |
| 净利率 | -9.3% | 10.5% |
| 营收同比 | -2.6% | 16.2% |
| 净利润同比 | -83.3% | 59.1% |
| 每股收益（稀释后） | — | $4.51 |
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CWHIESC
| Q4 25 | $1.2B | $871.0M | ||
| Q3 25 | $1.8B | $897.8M | ||
| Q2 25 | $2.0B | $890.2M | ||
| Q1 25 | $1.4B | $834.0M | ||
| Q4 24 | $1.2B | $749.5M | ||
| Q3 24 | $1.7B | $775.8M | ||
| Q2 24 | $1.8B | $768.4M | ||
| Q1 24 | $1.4B | $705.7M |
净利润CWHIESC
| Q4 25 | $-109.1M | $91.8M | ||
| Q3 25 | $-40.4M | $102.3M | ||
| Q2 25 | $30.2M | $79.3M | ||
| Q1 25 | $-12.3M | $72.6M | ||
| Q4 24 | $-59.5M | $57.7M | ||
| Q3 24 | $5.5M | $65.5M | ||
| Q2 24 | $9.8M | $66.6M | ||
| Q1 24 | $-22.3M | $56.8M |
毛利率CWHIESC
| Q4 25 | 28.8% | 25.3% | ||
| Q3 25 | 28.6% | 26.0% | ||
| Q2 25 | 30.0% | 26.9% | ||
| Q1 25 | 30.4% | 25.0% | ||
| Q4 24 | 31.3% | 23.8% | ||
| Q3 24 | 28.9% | 24.0% | ||
| Q2 24 | 30.3% | 25.3% | ||
| Q1 24 | 29.5% | 24.3% |
营业利润率CWHIESC
| Q4 25 | -4.3% | 11.2% | ||
| Q3 25 | 4.4% | 11.6% | ||
| Q2 25 | 6.6% | 12.6% | ||
| Q1 25 | 1.5% | 11.1% | ||
| Q4 24 | -1.3% | 10.0% | ||
| Q3 24 | 3.7% | 9.7% | ||
| Q2 24 | 5.3% | 11.7% | ||
| Q1 24 | 0.3% | 11.0% |
净利率CWHIESC
| Q4 25 | -9.3% | 10.5% | ||
| Q3 25 | -2.2% | 11.4% | ||
| Q2 25 | 1.5% | 8.9% | ||
| Q1 25 | -0.9% | 8.7% | ||
| Q4 24 | -4.9% | 7.7% | ||
| Q3 24 | 0.3% | 8.4% | ||
| Q2 24 | 0.5% | 8.7% | ||
| Q1 24 | -1.6% | 8.0% |
每股收益（稀释后）CWHIESC
| Q4 25 | — | $4.51 | ||
| Q3 25 | — | $4.99 | ||
| Q2 25 | — | $3.81 | ||
| Q1 25 | — | $3.50 | ||
| Q4 24 | — | $2.72 | ||
| Q3 24 | — | $3.06 | ||
| Q2 24 | — | $2.67 | ||
| Q1 24 | — | $2.29 |
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 | $215.0M | $258.7M |
| 总债务越低越好 | $1.5B | — |
| 股东权益账面价值 | $228.6M | $961.1M |
| 总资产 | $5.0B | $1.7B |
| 负债/权益比越低杠杆越低 | 6.44× | — |
8季度趋势，按日历期对齐
现金及短期投资CWHIESC
| Q4 25 | $215.0M | $258.7M | ||
| Q3 25 | $230.5M | $231.8M | ||
| Q2 25 | $118.1M | $168.3M | ||
| Q1 25 | $20.9M | $88.3M | ||
| Q4 24 | $208.4M | $112.0M | ||
| Q3 24 | $28.4M | $135.8M | ||
| Q2 24 | $23.7M | $44.9M | ||
| Q1 24 | $29.7M | $106.0M |
总债务CWHIESC
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.5B | — | ||
| Q2 25 | $1.5B | — | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | $1.5B | — | ||
| Q2 24 | $1.5B | — | ||
| Q1 24 | $1.6B | — |
股东权益CWHIESC
| Q4 25 | $228.6M | $961.1M | ||
| Q3 25 | $296.2M | $884.0M | ||
| Q2 25 | $340.5M | $781.4M | ||
| Q1 25 | $310.5M | $705.8M | ||
| Q4 24 | $326.6M | $652.4M | ||
| Q3 24 | $151.6M | $611.1M | ||
| Q2 24 | $149.7M | $567.5M | ||
| Q1 24 | $142.8M | $534.8M |
总资产CWHIESC
| Q4 25 | $5.0B | $1.7B | ||
| Q3 25 | $5.0B | $1.6B | ||
| Q2 25 | $5.2B | $1.5B | ||
| Q1 25 | $5.1B | $1.4B | ||
| Q4 24 | $4.9B | $1.3B | ||
| Q3 24 | $4.7B | $1.2B | ||
| Q2 24 | $5.0B | $1.2B | ||
| Q1 24 | $5.1B | $1.1B |
负债/权益比CWHIESC
| Q4 25 | 6.44× | — | ||
| Q3 25 | 5.00× | — | ||
| Q2 25 | 4.42× | — | ||
| Q1 25 | 4.87× | — | ||
| Q4 24 | 4.64× | — | ||
| Q3 24 | 10.09× | — | ||
| Q2 24 | 10.28× | — | ||
| Q1 24 | 11.00× | — |
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 | $-227.2M | $27.7M |
| 自由现金流经营现金流 - 资本支出 | — | $-18.9M |
| 自由现金流率自由现金流/营收 | — | -2.2% |
| 资本支出强度资本支出/营收 | — | 5.3% |
| 现金转化率经营现金流/净利润 | — | 0.30× |
| 过去12个月自由现金流最近4个季度 | — | $175.9M |
8季度趋势，按日历期对齐
经营现金流CWHIESC
| Q4 25 | $-227.2M | $27.7M | ||
| Q3 25 | $139.8M | $132.0M | ||
| Q2 25 | $187.9M | $92.0M | ||
| Q1 25 | $-232.5M | $24.8M | ||
| Q4 24 | $-163.4M | $37.3M | ||
| Q3 24 | $324.2M | $92.8M | ||
| Q2 24 | $152.3M | $82.9M | ||
| Q1 24 | $-68.0M | $33.7M |
自由现金流CWHIESC
| Q4 25 | — | $-18.9M | ||
| Q3 25 | — | $112.0M | ||
| Q2 25 | — | $74.8M | ||
| Q1 25 | — | $7.9M | ||
| Q4 24 | — | $24.1M | ||
| Q3 24 | — | $78.5M | ||
| Q2 24 | — | $65.4M | ||
| Q1 24 | — | $26.9M |
自由现金流率CWHIESC
| Q4 25 | — | -2.2% | ||
| Q3 25 | — | 12.5% | ||
| Q2 25 | — | 8.4% | ||
| Q1 25 | — | 0.9% | ||
| Q4 24 | — | 3.2% | ||
| Q3 24 | — | 10.1% | ||
| Q2 24 | — | 8.5% | ||
| Q1 24 | — | 3.8% |
资本支出强度CWHIESC
| Q4 25 | — | 5.3% | ||
| Q3 25 | — | 2.2% | ||
| Q2 25 | — | 1.9% | ||
| Q1 25 | — | 2.0% | ||
| Q4 24 | — | 1.8% | ||
| Q3 24 | — | 1.8% | ||
| Q2 24 | — | 2.3% | ||
| Q1 24 | — | 1.0% |
现金转化率CWHIESC
| Q4 25 | — | 0.30× | ||
| Q3 25 | — | 1.29× | ||
| Q2 25 | 6.22× | 1.16× | ||
| Q1 25 | — | 0.34× | ||
| Q4 24 | — | 0.65× | ||
| Q3 24 | 58.93× | 1.42× | ||
| Q2 24 | 15.59× | 1.24× | ||
| Q1 24 | — | 0.59× |
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
CWH
| New Vehicles | $457.8M | 39% |
| Used Vehicles | $386.5M | 33% |
| Products Service And Other | $160.5M | 14% |
| Finance And Insurance Net | $111.4M | 9% |
| Good Sam Services And Plans | $48.0M | 4% |
| Good Sam Club | $10.5M | 1% |
IESC
| Communications | $351.9M | 40% |
| Single Family Electrical Contracts | $137.0M | 16% |
| Custom Engineered Solutions | $116.0M | 13% |
| Commercialand Industrial | $94.8M | 11% |
| Single Family Contracts Plumbing HVAC | $82.9M | 10% |
| Multi Familyand Other | $64.2M | 7% |
| Industrial Services | $24.2M | 3% |
