vs
Camping World Holdings, Inc.（CWH）与越洋钻探（RIG）财务数据对比。点击上方公司名可切换其他公司
Camping World Holdings, Inc.的季度营收约是越洋钻探的1.1倍（$1.2B vs $1.0B），越洋钻探净利率更高（2.4% vs -9.3%，领先11.7%），越洋钻探同比增速更快（9.6% vs -2.6%），过去两年越洋钻探的营收复合增速更高（16.9% 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。
越洋钻探（Transocean Ltd.）是按营收计全球规模最大的海上钻探承包商，总部位于瑞士施泰因豪森，起源于美国，目前在加拿大、美国、挪威、英国、印度、巴西、新加坡等20个国家设有办事机构，业务覆盖全球主要海上油气开采区域。
CWH vs RIG — 直观对比
营收规模更大
CWH
是对方的1.1倍
$1.0B
营收增速更快
RIG
高出12.1%
-2.6%
净利率更高
RIG
高出11.7%
-9.3%
两年增速更快
RIG
近两年复合增速
-7.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.0B |
| 净利润 | $-109.1M | $25.0M |
| 毛利率 | 28.8% | 42.0% |
| 营业利润率 | -4.3% | 23.0% |
| 净利率 | -9.3% | 2.4% |
| 营收同比 | -2.6% | 9.6% |
| 净利润同比 | -83.3% | 257.1% |
| 每股收益（稀释后） | — | $0.13 |
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CWHRIG
| Q4 25 | $1.2B | $1.0B | ||
| Q3 25 | $1.8B | $1.0B | ||
| Q2 25 | $2.0B | $988.0M | ||
| Q1 25 | $1.4B | $906.0M | ||
| Q4 24 | $1.2B | $952.0M | ||
| Q3 24 | $1.7B | $948.0M | ||
| Q2 24 | $1.8B | $861.0M | ||
| Q1 24 | $1.4B | $763.0M |
净利润CWHRIG
| Q4 25 | $-109.1M | $25.0M | ||
| Q3 25 | $-40.4M | $-1.9B | ||
| Q2 25 | $30.2M | $-938.0M | ||
| Q1 25 | $-12.3M | $-79.0M | ||
| Q4 24 | $-59.5M | $7.0M | ||
| Q3 24 | $5.5M | $-494.0M | ||
| Q2 24 | $9.8M | $-123.0M | ||
| Q1 24 | $-22.3M | $98.0M |
毛利率CWHRIG
| Q4 25 | 28.8% | 42.0% | ||
| Q3 25 | 28.6% | 43.2% | ||
| Q2 25 | 30.0% | 39.4% | ||
| Q1 25 | 30.4% | 31.8% | ||
| Q4 24 | 31.3% | 39.2% | ||
| Q3 24 | 28.9% | 40.6% | ||
| Q2 24 | 30.3% | 38.0% | ||
| Q1 24 | 29.5% | 31.5% |
营业利润率CWHRIG
| Q4 25 | -4.3% | 23.0% | ||
| Q3 25 | 4.4% | -163.1% | ||
| Q2 25 | 6.6% | -97.6% | ||
| Q1 25 | 1.5% | 7.1% | ||
| Q4 24 | -1.3% | 13.7% | ||
| Q3 24 | 3.7% | -51.2% | ||
| Q2 24 | 5.3% | -6.9% | ||
| Q1 24 | 0.3% | -0.4% |
净利率CWHRIG
| Q4 25 | -9.3% | 2.4% | ||
| Q3 25 | -2.2% | -187.1% | ||
| Q2 25 | 1.5% | -94.9% | ||
| Q1 25 | -0.9% | -8.7% | ||
| Q4 24 | -4.9% | 0.7% | ||
| Q3 24 | 0.3% | -52.1% | ||
| Q2 24 | 0.5% | -14.3% | ||
| Q1 24 | -1.6% | 12.8% |
每股收益（稀释后）CWHRIG
| Q4 25 | — | $0.13 | ||
| Q3 25 | — | $-2.00 | ||
| Q2 25 | — | $-1.06 | ||
| Q1 25 | — | $-0.11 | ||
| Q4 24 | — | $-0.14 | ||
| Q3 24 | — | $-0.58 | ||
| Q2 24 | — | $-0.15 | ||
| Q1 24 | — | $0.11 |
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 | $620.0M |
| 总债务越低越好 | $1.5B | $5.2B |
| 股东权益账面价值 | $228.6M | $8.1B |
| 总资产 | $5.0B | $15.6B |
| 负债/权益比越低杠杆越低 | 6.44× | 0.64× |
8季度趋势，按日历期对齐
现金及短期投资CWHRIG
| Q4 25 | $215.0M | $620.0M | ||
| Q3 25 | $230.5M | $833.0M | ||
| Q2 25 | $118.1M | $377.0M | ||
| Q1 25 | $20.9M | $263.0M | ||
| Q4 24 | $208.4M | $560.0M | ||
| Q3 24 | $28.4M | $435.0M | ||
| Q2 24 | $23.7M | $475.0M | ||
| Q1 24 | $29.7M | $446.0M |
总债务CWHRIG
| Q4 25 | $1.5B | $5.2B | ||
| Q3 25 | $1.5B | $4.8B | ||
| Q2 25 | $1.5B | $5.9B | ||
| Q1 25 | $1.5B | $5.9B | ||
| Q4 24 | $1.5B | $6.2B | ||
| Q3 24 | $1.5B | $6.5B | ||
| Q2 24 | $1.5B | $6.8B | ||
| Q1 24 | $1.6B | $6.8B |
股东权益CWHRIG
| Q4 25 | $228.6M | $8.1B | ||
| Q3 25 | $296.2M | $8.1B | ||
| Q2 25 | $340.5M | $9.4B | ||
| Q1 25 | $310.5M | $10.2B | ||
| Q4 24 | $326.6M | $10.3B | ||
| Q3 24 | $151.6M | $10.2B | ||
| Q2 24 | $149.7M | $10.7B | ||
| Q1 24 | $142.8M | $10.5B |
总资产CWHRIG
| Q4 25 | $5.0B | $15.6B | ||
| Q3 25 | $5.0B | $16.2B | ||
| Q2 25 | $5.2B | $17.8B | ||
| Q1 25 | $5.1B | $19.0B | ||
| Q4 24 | $4.9B | $19.4B | ||
| Q3 24 | $4.7B | $19.5B | ||
| Q2 24 | $5.0B | $20.3B | ||
| Q1 24 | $5.1B | $19.9B |
负债/权益比CWHRIG
| Q4 25 | 6.44× | 0.64× | ||
| Q3 25 | 5.00× | 0.60× | ||
| Q2 25 | 4.42× | 0.63× | ||
| Q1 25 | 4.87× | 0.58× | ||
| Q4 24 | 4.64× | 0.60× | ||
| Q3 24 | 10.09× | 0.64× | ||
| Q2 24 | 10.28× | 0.63× | ||
| Q1 24 | 11.00× | 0.65× |
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 | $349.0M |
| 自由现金流经营现金流 - 资本支出 | — | $321.0M |
| 自由现金流率自由现金流/营收 | — | 30.8% |
| 资本支出强度资本支出/营收 | — | 2.7% |
| 现金转化率经营现金流/净利润 | — | 13.96× |
| 过去12个月自由现金流最近4个季度 | — | $626.0M |
8季度趋势，按日历期对齐
经营现金流CWHRIG
| Q4 25 | $-227.2M | $349.0M | ||
| Q3 25 | $139.8M | $246.0M | ||
| Q2 25 | $187.9M | $128.0M | ||
| Q1 25 | $-232.5M | $26.0M | ||
| Q4 24 | $-163.4M | $206.0M | ||
| Q3 24 | $324.2M | $194.0M | ||
| Q2 24 | $152.3M | $133.0M | ||
| Q1 24 | $-68.0M | $-86.0M |
自由现金流CWHRIG
| Q4 25 | — | $321.0M | ||
| Q3 25 | — | $235.0M | ||
| Q2 25 | — | $104.0M | ||
| Q1 25 | — | $-34.0M | ||
| Q4 24 | — | $177.0M | ||
| Q3 24 | — | $136.0M | ||
| Q2 24 | — | $49.0M | ||
| Q1 24 | — | $-169.0M |
自由现金流率CWHRIG
| Q4 25 | — | 30.8% | ||
| Q3 25 | — | 22.9% | ||
| Q2 25 | — | 10.5% | ||
| Q1 25 | — | -3.8% | ||
| Q4 24 | — | 18.6% | ||
| Q3 24 | — | 14.3% | ||
| Q2 24 | — | 5.7% | ||
| Q1 24 | — | -22.1% |
资本支出强度CWHRIG
| Q4 25 | — | 2.7% | ||
| Q3 25 | — | 1.1% | ||
| Q2 25 | — | 2.4% | ||
| Q1 25 | — | 6.6% | ||
| Q4 24 | — | 3.0% | ||
| Q3 24 | — | 6.1% | ||
| Q2 24 | — | 9.8% | ||
| Q1 24 | — | 10.9% |
现金转化率CWHRIG
| Q4 25 | — | 13.96× | ||
| Q3 25 | — | — | ||
| Q2 25 | 6.22× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 29.43× | ||
| Q3 24 | 58.93× | — | ||
| Q2 24 | 15.59× | — | ||
| Q1 24 | — | -0.88× |
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% |
RIG
| Ultra Deepwater Floaters | $433.0M | 42% |
| BR | $236.0M | 23% |
| Other Geographical | $211.0M | 20% |
| Harsh Environment Floaters | $163.0M | 16% |
