vs
Camping World Holdings, Inc.（CWH）与Construction Partners, Inc.（ROAD）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Construction Partners, Inc.的1.5倍（$1.2B vs $769.2M），Construction Partners, Inc.净利率更高（1.2% vs -9.3%，领先10.5%），Construction Partners, Inc.同比增速更快（34.6% vs -2.6%），过去两年Construction Partners, Inc.的营收复合增速更高（21.9% 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。
亚历山大建筑公司是总部位于美国加利福尼亚州棕榈泉的住宅开发企业，1955年至1965年期间在加州河滨县科切拉谷区域累计建成超过2200套住宅，在当地住宅建设市场拥有出色的项目交付记录。
CWH vs ROAD — 直观对比
营收规模更大
CWH
是对方的1.5倍
$769.2M
营收增速更快
ROAD
高出37.1%
-2.6%
净利率更高
ROAD
高出10.5%
-9.3%
两年增速更快
ROAD
近两年复合增速
-7.2%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $769.2M |
| 净利润 | $-109.1M | $9.2M |
| 毛利率 | 28.8% | 12.9% |
| 营业利润率 | -4.3% | 4.9% |
| 净利率 | -9.3% | 1.2% |
| 营收同比 | -2.6% | 34.6% |
| 净利润同比 | -83.3% | 688.7% |
| 每股收益（稀释后） | — | $0.16 |
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CWHROAD
| Q1 26 | — | $769.2M | ||
| Q4 25 | $1.2B | $809.5M | ||
| Q3 25 | $1.8B | $899.8M | ||
| Q2 25 | $2.0B | $779.3M | ||
| Q1 25 | $1.4B | $571.6M | ||
| Q4 24 | $1.2B | $561.6M | ||
| Q3 24 | $1.7B | $538.2M | ||
| Q2 24 | $1.8B | $517.8M |
净利润CWHROAD
| Q1 26 | — | $9.2M | ||
| Q4 25 | $-109.1M | $17.2M | ||
| Q3 25 | $-40.4M | $56.6M | ||
| Q2 25 | $30.2M | $44.0M | ||
| Q1 25 | $-12.3M | $4.2M | ||
| Q4 24 | $-59.5M | $-3.1M | ||
| Q3 24 | $5.5M | $29.3M | ||
| Q2 24 | $9.8M | $30.9M |
毛利率CWHROAD
| Q1 26 | — | 12.9% | ||
| Q4 25 | 28.8% | 15.0% | ||
| Q3 25 | 28.6% | 17.7% | ||
| Q2 25 | 30.0% | 16.9% | ||
| Q1 25 | 30.4% | 12.5% | ||
| Q4 24 | 31.3% | 13.6% | ||
| Q3 24 | 28.9% | 15.6% | ||
| Q2 24 | 30.3% | 16.1% |
营业利润率CWHROAD
| Q1 26 | — | 4.9% | ||
| Q4 25 | -4.3% | 6.2% | ||
| Q3 25 | 4.4% | 11.2% | ||
| Q2 25 | 6.6% | 10.6% | ||
| Q1 25 | 1.5% | 4.8% | ||
| Q4 24 | -1.3% | 2.5% | ||
| Q3 24 | 3.7% | 8.5% | ||
| Q2 24 | 5.3% | 8.8% |
净利率CWHROAD
| Q1 26 | — | 1.2% | ||
| Q4 25 | -9.3% | 2.1% | ||
| Q3 25 | -2.2% | 6.3% | ||
| Q2 25 | 1.5% | 5.7% | ||
| Q1 25 | -0.9% | 0.7% | ||
| Q4 24 | -4.9% | -0.5% | ||
| Q3 24 | 0.3% | 5.4% | ||
| Q2 24 | 0.5% | 6.0% |
每股收益（稀释后）CWHROAD
| Q1 26 | — | $0.16 | ||
| Q4 25 | — | $0.31 | ||
| Q3 25 | — | $1.03 | ||
| Q2 25 | — | $0.79 | ||
| Q1 25 | — | $0.08 | ||
| Q4 24 | — | $-0.06 | ||
| Q3 24 | — | $0.55 | ||
| Q2 24 | — | $0.59 |
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 | $76.9M |
| 总债务越低越好 | $1.5B | $38.5M |
| 股东权益账面价值 | $228.6M | $979.4M |
| 总资产 | $5.0B | $3.4B |
| 负债/权益比越低杠杆越低 | 6.44× | 0.04× |
8季度趋势，按日历期对齐
现金及短期投资CWHROAD
| Q1 26 | — | $76.9M | ||
| Q4 25 | $215.0M | $104.1M | ||
| Q3 25 | $230.5M | $156.1M | ||
| Q2 25 | $118.1M | $114.3M | ||
| Q1 25 | $20.9M | $101.9M | ||
| Q4 24 | $208.4M | $132.5M | ||
| Q3 24 | $28.4M | $74.7M | ||
| Q2 24 | $23.7M | $56.3M |
总债务CWHROAD
| Q1 26 | — | $38.5M | ||
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.5B | $1.6B | ||
| Q2 25 | $1.5B | — | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | $1.5B | $515.0M | ||
| Q2 24 | $1.5B | — |
股东权益CWHROAD
| Q1 26 | — | $979.4M | ||
| Q4 25 | $228.6M | $969.1M | ||
| Q3 25 | $296.2M | $912.0M | ||
| Q2 25 | $340.5M | $853.3M | ||
| Q1 25 | $310.5M | $807.9M | ||
| Q4 24 | $326.6M | $811.1M | ||
| Q3 24 | $151.6M | $573.7M | ||
| Q2 24 | $149.7M | $552.9M |
总资产CWHROAD
| Q1 26 | — | $3.4B | ||
| Q4 25 | $5.0B | $3.4B | ||
| Q3 25 | $5.0B | $3.2B | ||
| Q2 25 | $5.2B | $2.9B | ||
| Q1 25 | $5.1B | $2.8B | ||
| Q4 24 | $4.9B | $2.6B | ||
| Q3 24 | $4.7B | $1.5B | ||
| Q2 24 | $5.0B | $1.4B |
负债/权益比CWHROAD
| Q1 26 | — | 0.04× | ||
| Q4 25 | 6.44× | — | ||
| Q3 25 | 5.00× | 1.78× | ||
| Q2 25 | 4.42× | — | ||
| Q1 25 | 4.87× | — | ||
| Q4 24 | 4.64× | — | ||
| Q3 24 | 10.09× | 0.90× | ||
| Q2 24 | 10.28× | — |
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 | $147.8M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | — | 16.10× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流CWHROAD
| Q1 26 | — | $147.8M | ||
| Q4 25 | $-227.2M | $82.6M | ||
| Q3 25 | $139.8M | $112.0M | ||
| Q2 25 | $187.9M | $83.0M | ||
| Q1 25 | $-232.5M | $55.6M | ||
| Q4 24 | $-163.4M | $40.7M | ||
| Q3 24 | $324.2M | $95.9M | ||
| Q2 24 | $152.3M | $34.6M |
自由现金流CWHROAD
| Q1 26 | — | — | ||
| Q4 25 | — | $47.1M | ||
| Q3 25 | — | $78.9M | ||
| Q2 25 | — | $46.4M | ||
| Q1 25 | — | $14.2M | ||
| Q4 24 | — | $13.8M | ||
| Q3 24 | — | $78.4M | ||
| Q2 24 | — | $19.7M |
自由现金流率CWHROAD
| Q1 26 | — | — | ||
| Q4 25 | — | 5.8% | ||
| Q3 25 | — | 8.8% | ||
| Q2 25 | — | 5.9% | ||
| Q1 25 | — | 2.5% | ||
| Q4 24 | — | 2.5% | ||
| Q3 24 | — | 14.6% | ||
| Q2 24 | — | 3.8% |
资本支出强度CWHROAD
| Q1 26 | — | — | ||
| Q4 25 | — | 4.4% | ||
| Q3 25 | — | 3.7% | ||
| Q2 25 | — | 4.7% | ||
| Q1 25 | — | 7.2% | ||
| Q4 24 | — | 4.8% | ||
| Q3 24 | — | 3.3% | ||
| Q2 24 | — | 2.9% |
现金转化率CWHROAD
| Q1 26 | — | 16.10× | ||
| Q4 25 | — | 4.80× | ||
| Q3 25 | — | 1.98× | ||
| Q2 25 | 6.22× | 1.88× | ||
| Q1 25 | — | 13.20× | ||
| Q4 24 | — | — | ||
| Q3 24 | 58.93× | 3.27× | ||
| Q2 24 | 15.59× | 1.12× |
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% |
ROAD
暂无分部数据
