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Camping World Holdings, Inc.（CWH）与Martin Marietta Materials（MLM）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Martin Marietta Materials的1.0倍（$1.2B vs $1.1B），Martin Marietta Materials净利率更高（24.5% vs -9.3%，领先33.8%），Camping World Holdings, Inc.同比增速更快（-2.6% vs -30.1%），过去两年Martin Marietta Materials的营收复合增速更高（-4.5% 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。
马丁·玛丽埃塔材料公司是美国大型集料及重型建筑材料供应商，业务覆盖美国26个州、加拿大及加勒比地区，主要为道路、人行道、地基等各类基建项目提供所需原材料。
CWH vs MLM — 直观对比
营收规模更大
CWH
是对方的1.0倍
$1.1B
营收增速更快
CWH
高出27.6%
-30.1%
净利率更高
MLM
高出33.8%
-9.3%
两年增速更快
MLM
近两年复合增速
-7.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.1B |
| 净利润 | $-109.1M | $279.0M |
| 毛利率 | 28.8% | 35.0% |
| 营业利润率 | -4.3% | 24.6% |
| 净利率 | -9.3% | 24.5% |
| 营收同比 | -2.6% | -30.1% |
| 净利润同比 | -83.3% | -4.8% |
| 每股收益（稀释后） | — | $4.59 |
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CWHMLM
| Q4 25 | $1.2B | $1.1B | ||
| Q3 25 | $1.8B | $1.8B | ||
| Q2 25 | $2.0B | $1.8B | ||
| Q1 25 | $1.4B | $1.4B | ||
| Q4 24 | $1.2B | $1.6B | ||
| Q3 24 | $1.7B | $1.9B | ||
| Q2 24 | $1.8B | $1.8B | ||
| Q1 24 | $1.4B | $1.3B |
净利润CWHMLM
| Q4 25 | $-109.1M | $279.0M | ||
| Q3 25 | $-40.4M | $414.0M | ||
| Q2 25 | $30.2M | $328.0M | ||
| Q1 25 | $-12.3M | $116.0M | ||
| Q4 24 | $-59.5M | $293.0M | ||
| Q3 24 | $5.5M | $363.0M | ||
| Q2 24 | $9.8M | $294.0M | ||
| Q1 24 | $-22.3M | $1.0B |
毛利率CWHMLM
| Q4 25 | 28.8% | 35.0% | ||
| Q3 25 | 28.6% | 33.1% | ||
| Q2 25 | 30.0% | 30.0% | ||
| Q1 25 | 30.4% | 24.8% | ||
| Q4 24 | 31.3% | 30.0% | ||
| Q3 24 | 28.9% | 31.7% | ||
| Q2 24 | 30.3% | 29.3% | ||
| Q1 24 | 29.5% | 21.7% |
营业利润率CWHMLM
| Q4 25 | -4.3% | 24.6% | ||
| Q3 25 | 4.4% | 27.4% | ||
| Q2 25 | 6.6% | 25.3% | ||
| Q1 25 | 1.5% | 14.3% | ||
| Q4 24 | -1.3% | 24.4% | ||
| Q3 24 | 3.7% | 25.9% | ||
| Q2 24 | 5.3% | 22.6% | ||
| Q1 24 | 0.3% | — |
净利率CWHMLM
| Q4 25 | -9.3% | 24.5% | ||
| Q3 25 | -2.2% | 22.4% | ||
| Q2 25 | 1.5% | 18.1% | ||
| Q1 25 | -0.9% | 8.6% | ||
| Q4 24 | -4.9% | 18.0% | ||
| Q3 24 | 0.3% | 19.2% | ||
| Q2 24 | 0.5% | 16.7% | ||
| Q1 24 | -1.6% | 83.5% |
每股收益（稀释后）CWHMLM
| Q4 25 | — | $4.59 | ||
| Q3 25 | — | $6.85 | ||
| Q2 25 | — | $5.43 | ||
| Q1 25 | — | $1.90 | ||
| Q4 24 | — | $4.87 | ||
| Q3 24 | — | $5.91 | ||
| Q2 24 | — | $4.76 | ||
| Q1 24 | — | $16.87 |
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 | $67.0M |
| 总债务越低越好 | $1.5B | $5.3B |
| 股东权益账面价值 | $228.6M | $10.0B |
| 总资产 | $5.0B | $18.7B |
| 负债/权益比越低杠杆越低 | 6.44× | 0.53× |
8季度趋势，按日历期对齐
现金及短期投资CWHMLM
| Q4 25 | $215.0M | $67.0M | ||
| Q3 25 | $230.5M | $57.0M | ||
| Q2 25 | $118.1M | $225.0M | ||
| Q1 25 | $20.9M | $101.0M | ||
| Q4 24 | $208.4M | $670.0M | ||
| Q3 24 | $28.4M | $52.0M | ||
| Q2 24 | $23.7M | $109.0M | ||
| Q1 24 | $29.7M | $2.6B |
总债务CWHMLM
| Q4 25 | $1.5B | $5.3B | ||
| Q3 25 | $1.5B | $5.5B | ||
| Q2 25 | $1.5B | $5.4B | ||
| Q1 25 | $1.5B | $5.4B | ||
| Q4 24 | $1.5B | $5.4B | ||
| Q3 24 | $1.5B | $4.0B | ||
| Q2 24 | $1.5B | $4.3B | ||
| Q1 24 | $1.6B | $4.3B |
股东权益CWHMLM
| Q4 25 | $228.6M | $10.0B | ||
| Q3 25 | $296.2M | $9.7B | ||
| Q2 25 | $340.5M | $9.4B | ||
| Q1 25 | $310.5M | $9.1B | ||
| Q4 24 | $326.6M | $9.5B | ||
| Q3 24 | $151.6M | $9.2B | ||
| Q2 24 | $149.7M | $8.8B | ||
| Q1 24 | $142.8M | $8.9B |
总资产CWHMLM
| Q4 25 | $5.0B | $18.7B | ||
| Q3 25 | $5.0B | $18.7B | ||
| Q2 25 | $5.2B | $18.1B | ||
| Q1 25 | $5.1B | $17.7B | ||
| Q4 24 | $4.9B | $18.2B | ||
| Q3 24 | $4.7B | $16.5B | ||
| Q2 24 | $5.0B | $16.3B | ||
| Q1 24 | $5.1B | $16.2B |
负债/权益比CWHMLM
| Q4 25 | 6.44× | 0.53× | ||
| Q3 25 | 5.00× | 0.57× | ||
| Q2 25 | 4.42× | 0.58× | ||
| Q1 25 | 4.87× | 0.60× | ||
| Q4 24 | 4.64× | 0.57× | ||
| Q3 24 | 10.09× | 0.44× | ||
| Q2 24 | 10.28× | 0.49× | ||
| Q1 24 | 11.00× | 0.49× |
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 | $629.0M |
| 自由现金流经营现金流 - 资本支出 | — | $424.0M |
| 自由现金流率自由现金流/营收 | — | 37.2% |
| 资本支出强度资本支出/营收 | — | 18.0% |
| 现金转化率经营现金流/净利润 | — | 2.25× |
| 过去12个月自由现金流最近4个季度 | — | $978.0M |
8季度趋势，按日历期对齐
经营现金流CWHMLM
| Q4 25 | $-227.2M | $629.0M | ||
| Q3 25 | $139.8M | $551.0M | ||
| Q2 25 | $187.9M | $387.0M | ||
| Q1 25 | $-232.5M | $218.0M | ||
| Q4 24 | $-163.4M | $686.0M | ||
| Q3 24 | $324.2M | $600.0M | ||
| Q2 24 | $152.3M | $1.0M | ||
| Q1 24 | $-68.0M | $172.0M |
自由现金流CWHMLM
| Q4 25 | — | $424.0M | ||
| Q3 25 | — | $361.0M | ||
| Q2 25 | — | $208.0M | ||
| Q1 25 | — | $-15.0M | ||
| Q4 24 | — | $453.0M | ||
| Q3 24 | — | $317.0M | ||
| Q2 24 | — | $-138.0M | ||
| Q1 24 | — | $-28.0M |
自由现金流率CWHMLM
| Q4 25 | — | 37.2% | ||
| Q3 25 | — | 19.6% | ||
| Q2 25 | — | 11.5% | ||
| Q1 25 | — | -1.1% | ||
| Q4 24 | — | 27.8% | ||
| Q3 24 | — | 16.8% | ||
| Q2 24 | — | -7.8% | ||
| Q1 24 | — | -2.2% |
资本支出强度CWHMLM
| Q4 25 | — | 18.0% | ||
| Q3 25 | — | 10.3% | ||
| Q2 25 | — | 9.9% | ||
| Q1 25 | — | 17.2% | ||
| Q4 24 | — | 14.3% | ||
| Q3 24 | — | 15.0% | ||
| Q2 24 | — | 7.9% | ||
| Q1 24 | — | 16.0% |
现金转化率CWHMLM
| Q4 25 | — | 2.25× | ||
| Q3 25 | — | 1.33× | ||
| Q2 25 | 6.22× | 1.18× | ||
| Q1 25 | — | 1.88× | ||
| Q4 24 | — | 2.34× | ||
| Q3 24 | 58.93× | 1.65× | ||
| Q2 24 | 15.59× | 0.00× | ||
| Q1 24 | — | 0.16× |
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% |
MLM
| Building Materials Business East Group | $774.0M | 68% |
| Building Materials Business West Group | $233.0M | 20% |
| Services | $88.0M | 8% |
| Other | $45.0M | 4% |
