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Camping World Holdings, Inc.（CWH）与Post Holdings, Inc.（POST）财务数据对比。点击上方公司名可切换其他公司
Post Holdings, Inc.的季度营收约是Camping World Holdings, Inc.的1.9倍（$2.2B vs $1.2B），Post Holdings, Inc.净利率更高（4.5% vs -9.3%，领先13.8%），Post Holdings, Inc.同比增速更快（10.1% vs -2.6%），过去两年Post Holdings, Inc.的营收复合增速更高（4.3% 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。
Post Holdings, Inc.是美国头部包装消费品食品生产商，旗下拥有知名食品业务板块Post Consumer Brands，总部坐落于明尼苏达州莱克维尔，其生产的食品类快消品覆盖北美及全球多个市场，深受消费者喜爱。
CWH vs POST — 直观对比
营收规模更大
POST
是对方的1.9倍
$1.2B
营收增速更快
POST
高出12.7%
-2.6%
净利率更高
POST
高出13.8%
-9.3%
两年增速更快
POST
近两年复合增速
-7.2%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $2.2B |
| 净利润 | $-109.1M | $96.8M |
| 毛利率 | 28.8% | 29.4% |
| 营业利润率 | -4.3% | 11.0% |
| 净利率 | -9.3% | 4.5% |
| 营收同比 | -2.6% | 10.1% |
| 净利润同比 | -83.3% | -14.6% |
| 每股收益（稀释后） | — | $1.71 |
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CWHPOST
| Q4 25 | $1.2B | $2.2B | ||
| Q3 25 | $1.8B | $2.2B | ||
| Q2 25 | $2.0B | $2.0B | ||
| Q1 25 | $1.4B | $2.0B | ||
| Q4 24 | $1.2B | $2.0B | ||
| Q3 24 | $1.7B | $2.0B | ||
| Q2 24 | $1.8B | $1.9B | ||
| Q1 24 | $1.4B | $2.0B |
净利润CWHPOST
| Q4 25 | $-109.1M | $96.8M | ||
| Q3 25 | $-40.4M | $51.0M | ||
| Q2 25 | $30.2M | $108.8M | ||
| Q1 25 | $-12.3M | $62.6M | ||
| Q4 24 | $-59.5M | $113.3M | ||
| Q3 24 | $5.5M | $81.6M | ||
| Q2 24 | $9.8M | $99.8M | ||
| Q1 24 | $-22.3M | $97.2M |
毛利率CWHPOST
| Q4 25 | 28.8% | 29.4% | ||
| Q3 25 | 28.6% | 26.8% | ||
| Q2 25 | 30.0% | 30.0% | ||
| Q1 25 | 30.4% | 28.0% | ||
| Q4 24 | 31.3% | 30.1% | ||
| Q3 24 | 28.9% | 28.6% | ||
| Q2 24 | 30.3% | 29.6% | ||
| Q1 24 | 29.5% | 29.0% |
营业利润率CWHPOST
| Q4 25 | -4.3% | 11.0% | ||
| Q3 25 | 4.4% | 7.5% | ||
| Q2 25 | 6.6% | 11.8% | ||
| Q1 25 | 1.5% | 9.3% | ||
| Q4 24 | -1.3% | 10.8% | ||
| Q3 24 | 3.7% | 9.5% | ||
| Q2 24 | 5.3% | 10.4% | ||
| Q1 24 | 0.3% | 9.5% |
净利率CWHPOST
| Q4 25 | -9.3% | 4.5% | ||
| Q3 25 | -2.2% | 2.3% | ||
| Q2 25 | 1.5% | 5.5% | ||
| Q1 25 | -0.9% | 3.2% | ||
| Q4 24 | -4.9% | 5.7% | ||
| Q3 24 | 0.3% | 4.1% | ||
| Q2 24 | 0.5% | 5.1% | ||
| Q1 24 | -1.6% | 4.9% |
每股收益（稀释后）CWHPOST
| Q4 25 | — | $1.71 | ||
| Q3 25 | — | $0.91 | ||
| Q2 25 | — | $1.79 | ||
| Q1 25 | — | $1.03 | ||
| Q4 24 | — | $1.78 | ||
| Q3 24 | — | $1.28 | ||
| Q2 24 | — | $1.53 | ||
| Q1 24 | — | $1.48 |
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 | $279.3M |
| 总债务越低越好 | $1.5B | $7.5B |
| 股东权益账面价值 | $228.6M | $3.5B |
| 总资产 | $5.0B | $13.0B |
| 负债/权益比越低杠杆越低 | 6.44× | 2.16× |
8季度趋势，按日历期对齐
现金及短期投资CWHPOST
| Q4 25 | $215.0M | $279.3M | ||
| Q3 25 | $230.5M | $176.7M | ||
| Q2 25 | $118.1M | $1.1B | ||
| Q1 25 | $20.9M | $617.6M | ||
| Q4 24 | $208.4M | $872.9M | ||
| Q3 24 | $28.4M | $787.4M | ||
| Q2 24 | $23.7M | $333.8M | ||
| Q1 24 | $29.7M | $333.4M |
总债务CWHPOST
| Q4 25 | $1.5B | $7.5B | ||
| Q3 25 | $1.5B | $7.4B | ||
| Q2 25 | $1.5B | $7.3B | ||
| Q1 25 | $1.5B | $6.9B | ||
| Q4 24 | $1.5B | $6.9B | ||
| Q3 24 | $1.5B | $6.8B | ||
| Q2 24 | $1.5B | $6.4B | ||
| Q1 24 | $1.6B | $6.4B |
股东权益CWHPOST
| Q4 25 | $228.6M | $3.5B | ||
| Q3 25 | $296.2M | $3.8B | ||
| Q2 25 | $340.5M | $4.0B | ||
| Q1 25 | $310.5M | $3.8B | ||
| Q4 24 | $326.6M | $3.9B | ||
| Q3 24 | $151.6M | $4.1B | ||
| Q2 24 | $149.7M | $3.9B | ||
| Q1 24 | $142.8M | $4.0B |
总资产CWHPOST
| Q4 25 | $5.0B | $13.0B | ||
| Q3 25 | $5.0B | $13.5B | ||
| Q2 25 | $5.2B | $13.4B | ||
| Q1 25 | $5.1B | $12.8B | ||
| Q4 24 | $4.9B | $12.8B | ||
| Q3 24 | $4.7B | $12.9B | ||
| Q2 24 | $5.0B | $12.1B | ||
| Q1 24 | $5.1B | $12.2B |
负债/权益比CWHPOST
| Q4 25 | 6.44× | 2.16× | ||
| Q3 25 | 5.00× | 1.98× | ||
| Q2 25 | 4.42× | 1.84× | ||
| Q1 25 | 4.87× | 1.81× | ||
| Q4 24 | 4.64× | 1.79× | ||
| Q3 24 | 10.09× | 1.67× | ||
| Q2 24 | 10.28× | 1.62× | ||
| Q1 24 | 11.00× | 1.61× |
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 | $235.7M |
| 自由现金流经营现金流 - 资本支出 | — | $119.3M |
| 自由现金流率自由现金流/营收 | — | 5.5% |
| 资本支出强度资本支出/营收 | — | 5.4% |
| 现金转化率经营现金流/净利润 | — | 2.43× |
| 过去12个月自由现金流最近4个季度 | — | $436.0M |
8季度趋势，按日历期对齐
经营现金流CWHPOST
| Q4 25 | $-227.2M | $235.7M | ||
| Q3 25 | $139.8M | $301.3M | ||
| Q2 25 | $187.9M | $225.9M | ||
| Q1 25 | $-232.5M | $160.7M | ||
| Q4 24 | $-163.4M | $310.4M | ||
| Q3 24 | $324.2M | $235.4M | ||
| Q2 24 | $152.3M | $272.3M | ||
| Q1 24 | $-68.0M | $249.6M |
自由现金流CWHPOST
| Q4 25 | — | $119.3M | ||
| Q3 25 | — | $151.6M | ||
| Q2 25 | — | $94.9M | ||
| Q1 25 | — | $70.2M | ||
| Q4 24 | — | $171.4M | ||
| Q3 24 | — | $96.2M | ||
| Q2 24 | — | $161.5M | ||
| Q1 24 | — | $150.9M |
自由现金流率CWHPOST
| Q4 25 | — | 5.5% | ||
| Q3 25 | — | 6.7% | ||
| Q2 25 | — | 4.8% | ||
| Q1 25 | — | 3.6% | ||
| Q4 24 | — | 8.7% | ||
| Q3 24 | — | 4.8% | ||
| Q2 24 | — | 8.3% | ||
| Q1 24 | — | 7.5% |
资本支出强度CWHPOST
| Q4 25 | — | 5.4% | ||
| Q3 25 | — | 6.7% | ||
| Q2 25 | — | 6.6% | ||
| Q1 25 | — | 4.6% | ||
| Q4 24 | — | 7.0% | ||
| Q3 24 | — | 6.9% | ||
| Q2 24 | — | 5.7% | ||
| Q1 24 | — | 4.9% |
现金转化率CWHPOST
| Q4 25 | — | 2.43× | ||
| Q3 25 | — | 5.91× | ||
| Q2 25 | 6.22× | 2.08× | ||
| Q1 25 | — | 2.57× | ||
| Q4 24 | — | 2.74× | ||
| Q3 24 | 58.93× | 2.88× | ||
| Q2 24 | 15.59× | 2.73× | ||
| Q1 24 | — | 2.57× |
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% |
POST
| Post Consumer Brands Segment | $1.1B | 51% |
| Pet Food | $360.4M | 17% |
| Side Dishes | $221.5M | 10% |
| Weetabix | $137.9M | 6% |
| Other | $122.1M | 6% |
| Nut Butters | $105.8M | 5% |
| Sausage | $53.1M | 2% |
| Cheeseand Dairy | $41.3M | 2% |
| Protein Based Shakes | $29.3M | 1% |
| Bell Ring | $18.1M | 1% |
