vs
Camping World Holdings, Inc.（CWH）与Primo Brands Corp（PRMB）财务数据对比。点击上方公司名可切换其他公司
Primo Brands Corp的季度营收约是Camping World Holdings, Inc.的1.3倍（$1.6B vs $1.2B），Primo Brands Corp净利率更高（-0.8% vs -9.3%，领先8.5%）
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。
Primo Brands Corp是一家美加合资饮用水企业，主营多规格桶装水、饮水机、自助补水设备及净水家电，总部位于美国佛罗里达州坦帕市，服务覆盖美国、加拿大、欧洲及以色列的住宅与商业客户。
CWH vs PRMB — 直观对比
营收规模更大
PRMB
是对方的1.3倍
$1.2B
净利率更高
PRMB
高出8.5%
-9.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.6B |
| 净利润 | $-109.1M | $-13.0M |
| 毛利率 | 28.8% | 27.7% |
| 营业利润率 | -4.3% | 1.2% |
| 净利率 | -9.3% | -0.8% |
| 营收同比 | -2.6% | — |
| 净利润同比 | -83.3% | — |
| 每股收益（稀释后） | — | $-0.03 |
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CWHPRMB
| Q4 25 | $1.2B | $1.6B | ||
| Q3 25 | $1.8B | $1.8B | ||
| Q2 25 | $2.0B | $1.7B | ||
| Q1 25 | $1.4B | $1.6B | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.7B | $0 | ||
| Q2 24 | $1.8B | $1.3B | ||
| Q1 24 | $1.4B | $1.1B |
净利润CWHPRMB
| Q4 25 | $-109.1M | $-13.0M | ||
| Q3 25 | $-40.4M | $16.8M | ||
| Q2 25 | $30.2M | $27.6M | ||
| Q1 25 | $-12.3M | $28.7M | ||
| Q4 24 | $-59.5M | — | ||
| Q3 24 | $5.5M | $-2.0K | ||
| Q2 24 | $9.8M | $54.5M | ||
| Q1 24 | $-22.3M | $33.5M |
毛利率CWHPRMB
| Q4 25 | 28.8% | 27.7% | ||
| Q3 25 | 28.6% | 29.9% | ||
| Q2 25 | 30.0% | 31.3% | ||
| Q1 25 | 30.4% | 32.3% | ||
| Q4 24 | 31.3% | — | ||
| Q3 24 | 28.9% | — | ||
| Q2 24 | 30.3% | 32.7% | ||
| Q1 24 | 29.5% | 30.4% |
营业利润率CWHPRMB
| Q4 25 | -4.3% | 1.2% | ||
| Q3 25 | 4.4% | 8.3% | ||
| Q2 25 | 6.6% | 6.5% | ||
| Q1 25 | 1.5% | 9.5% | ||
| Q4 24 | -1.3% | — | ||
| Q3 24 | 3.7% | — | ||
| Q2 24 | 5.3% | 12.1% | ||
| Q1 24 | 0.3% | 11.0% |
净利率CWHPRMB
| Q4 25 | -9.3% | -0.8% | ||
| Q3 25 | -2.2% | 1.0% | ||
| Q2 25 | 1.5% | 1.6% | ||
| Q1 25 | -0.9% | 1.8% | ||
| Q4 24 | -4.9% | — | ||
| Q3 24 | 0.3% | — | ||
| Q2 24 | 0.5% | 4.1% | ||
| Q1 24 | -1.6% | 2.9% |
每股收益（稀释后）CWHPRMB
| Q4 25 | — | $-0.03 | ||
| Q3 25 | — | $0.04 | ||
| Q2 25 | — | $0.07 | ||
| Q1 25 | — | $0.08 | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-20.00 | ||
| Q2 24 | — | $0.25 | ||
| Q1 24 | — | $0.15 |
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 | $376.7M |
| 总债务越低越好 | $1.5B | $5.2B |
| 股东权益账面价值 | $228.6M | $3.0B |
| 总资产 | $5.0B | $10.6B |
| 负债/权益比越低杠杆越低 | 6.44× | 1.72× |
8季度趋势，按日历期对齐
现金及短期投资CWHPRMB
| Q4 25 | $215.0M | $376.7M | ||
| Q3 25 | $230.5M | — | ||
| Q2 25 | $118.1M | — | ||
| Q1 25 | $20.9M | — | ||
| Q4 24 | $208.4M | — | ||
| Q3 24 | $28.4M | — | ||
| Q2 24 | $23.7M | — | ||
| Q1 24 | $29.7M | — |
总债务CWHPRMB
| Q4 25 | $1.5B | $5.2B | ||
| Q3 25 | $1.5B | $5.1B | ||
| Q2 25 | $1.5B | $5.1B | ||
| Q1 25 | $1.5B | $5.0B | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | $1.5B | — | ||
| Q2 24 | $1.5B | — | ||
| Q1 24 | $1.6B | — |
股东权益CWHPRMB
| Q4 25 | $228.6M | $3.0B | ||
| Q3 25 | $296.2M | $3.2B | ||
| Q2 25 | $340.5M | $3.2B | ||
| Q1 25 | $310.5M | $3.3B | ||
| Q4 24 | $326.6M | — | ||
| Q3 24 | $151.6M | $-2.0K | ||
| Q2 24 | $149.7M | $-296.8M | ||
| Q1 24 | $142.8M | $-349.8M |
总资产CWHPRMB
| Q4 25 | $5.0B | $10.6B | ||
| Q3 25 | $5.0B | $11.0B | ||
| Q2 25 | $5.2B | $11.0B | ||
| Q1 25 | $5.1B | $11.0B | ||
| Q4 24 | $4.9B | — | ||
| Q3 24 | $4.7B | $0 | ||
| Q2 24 | $5.0B | — | ||
| Q1 24 | $5.1B | — |
负债/权益比CWHPRMB
| Q4 25 | 6.44× | 1.72× | ||
| Q3 25 | 5.00× | 1.61× | ||
| Q2 25 | 4.42× | 1.57× | ||
| Q1 25 | 4.87× | 1.51× | ||
| 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 | $203.1M |
| 自由现金流经营现金流 - 资本支出 | — | $57.3M |
| 自由现金流率自由现金流/营收 | — | 3.7% |
| 资本支出强度资本支出/营收 | — | 9.4% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | $302.9M |
8季度趋势，按日历期对齐
经营现金流CWHPRMB
| Q4 25 | $-227.2M | $203.1M | ||
| Q3 25 | $139.8M | $283.4M | ||
| Q2 25 | $187.9M | $155.0M | ||
| Q1 25 | $-232.5M | $38.8M | ||
| Q4 24 | $-163.4M | — | ||
| Q3 24 | $324.2M | $0 | ||
| Q2 24 | $152.3M | $102.5M | ||
| Q1 24 | $-68.0M | $6.0M |
自由现金流CWHPRMB
| Q4 25 | — | $57.3M | ||
| Q3 25 | — | $167.7M | ||
| Q2 25 | — | $101.1M | ||
| Q1 25 | — | $-23.2M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $61.4M | ||
| Q1 24 | — | $-17.5M |
自由现金流率CWHPRMB
| Q4 25 | — | 3.7% | ||
| Q3 25 | — | 9.5% | ||
| Q2 25 | — | 5.8% | ||
| Q1 25 | — | -1.4% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 4.7% | ||
| Q1 24 | — | -1.5% |
资本支出强度CWHPRMB
| Q4 25 | — | 9.4% | ||
| Q3 25 | — | 6.6% | ||
| Q2 25 | — | 3.1% | ||
| Q1 25 | — | 3.8% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 3.1% | ||
| Q1 24 | — | 2.1% |
现金转化率CWHPRMB
| Q4 25 | — | — | ||
| Q3 25 | — | 16.87× | ||
| Q2 25 | 6.22× | 5.62× | ||
| Q1 25 | — | 1.35× | ||
| Q4 24 | — | — | ||
| Q3 24 | 58.93× | — | ||
| Q2 24 | 15.59× | 1.88× | ||
| Q1 24 | — | 0.18× |
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% |
PRMB
| Regional Spring Water | $765.1M | 49% |
| Purified Water | $484.5M | 31% |
| Other | $188.4M | 12% |
| Premium Water | $90.3M | 6% |
| Other Water | $25.8M | 2% |
