vs
Camping World Holdings, Inc.（CWH）与ROKU, INC（ROKU）财务数据对比。点击上方公司名可切换其他公司
ROKU, INC的季度营收约是Camping World Holdings, Inc.的1.1倍（$1.2B vs $1.2B），ROKU, INC净利率更高（-2.2% vs -9.3%，领先7.1%），Camping World Holdings, Inc.同比增速更快（-2.6% vs -18.3%），过去两年ROKU, INC的营收复合增速更高（13.6% 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。
Roku是美国流媒体技术企业，2002年由安东尼·伍德创立，主营数字媒体播放器、电视硬件生产，流媒体内容分发及平台广告运营。截至2024年覆盖用户达1.45亿，是美国流媒体视频分发领域的市场领导者，业务覆盖澳、加、法、德、英及拉美多国。
CWH vs ROKU — 直观对比
营收规模更大
ROKU
是对方的1.1倍
$1.2B
营收增速更快
CWH
高出15.7%
-18.3%
净利率更高
ROKU
高出7.1%
-9.3%
两年增速更快
ROKU
近两年复合增速
-7.2%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.2B |
| 净利润 | $-109.1M | $-27.4M |
| 毛利率 | 28.8% | 35.6% |
| 营业利润率 | -4.3% | 59.7% |
| 净利率 | -9.3% | -2.2% |
| 营收同比 | -2.6% | -18.3% |
| 净利润同比 | -83.3% | -361.0% |
| 每股收益（稀释后） | — | $0.57 |
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CWHROKU
| Q1 26 | — | $1.2B | ||
| Q4 25 | $1.2B | $1.4B | ||
| Q3 25 | $1.8B | $1.2B | ||
| Q2 25 | $2.0B | $1.1B | ||
| Q1 25 | $1.4B | $1.0B | ||
| Q4 24 | $1.2B | $1.2B | ||
| Q3 24 | $1.7B | $1.1B | ||
| Q2 24 | $1.8B | $968.2M |
净利润CWHROKU
| Q1 26 | — | $-27.4M | ||
| Q4 25 | $-109.1M | $80.5M | ||
| Q3 25 | $-40.4M | $24.8M | ||
| Q2 25 | $30.2M | $10.5M | ||
| Q1 25 | $-12.3M | $-27.4M | ||
| Q4 24 | $-59.5M | $-35.5M | ||
| Q3 24 | $5.5M | $-9.0M | ||
| Q2 24 | $9.8M | $-34.0M |
毛利率CWHROKU
| Q1 26 | — | 35.6% | ||
| Q4 25 | 28.8% | 43.5% | ||
| Q3 25 | 28.6% | 43.4% | ||
| Q2 25 | 30.0% | 44.8% | ||
| Q1 25 | 30.4% | 43.6% | ||
| Q4 24 | 31.3% | 42.7% | ||
| Q3 24 | 28.9% | 45.2% | ||
| Q2 24 | 30.3% | 43.9% |
营业利润率CWHROKU
| Q1 26 | — | 59.7% | ||
| Q4 25 | -4.3% | 4.7% | ||
| Q3 25 | 4.4% | 0.8% | ||
| Q2 25 | 6.6% | -2.1% | ||
| Q1 25 | 1.5% | -5.7% | ||
| Q4 24 | -1.3% | -3.3% | ||
| Q3 24 | 3.7% | -3.4% | ||
| Q2 24 | 5.3% | -7.4% |
净利率CWHROKU
| Q1 26 | — | -2.2% | ||
| Q4 25 | -9.3% | 5.8% | ||
| Q3 25 | -2.2% | 2.0% | ||
| Q2 25 | 1.5% | 0.9% | ||
| Q1 25 | -0.9% | -2.7% | ||
| Q4 24 | -4.9% | -3.0% | ||
| Q3 24 | 0.3% | -0.9% | ||
| Q2 24 | 0.5% | -3.5% |
每股收益（稀释后）CWHROKU
| Q1 26 | — | $0.57 | ||
| Q4 25 | — | $0.55 | ||
| Q3 25 | — | $0.16 | ||
| Q2 25 | — | $0.07 | ||
| Q1 25 | — | $-0.19 | ||
| Q4 24 | — | $-0.24 | ||
| Q3 24 | — | $-0.06 | ||
| Q2 24 | — | $-0.24 |
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 | $2.4B |
| 总债务越低越好 | $1.5B | — |
| 股东权益账面价值 | $228.6M | $2.7B |
| 总资产 | $5.0B | $4.4B |
| 负债/权益比越低杠杆越低 | 6.44× | — |
8季度趋势，按日历期对齐
现金及短期投资CWHROKU
| Q1 26 | — | $2.4B | ||
| Q4 25 | $215.0M | $2.3B | ||
| Q3 25 | $230.5M | $2.3B | ||
| Q2 25 | $118.1M | $2.3B | ||
| Q1 25 | $20.9M | $2.3B | ||
| Q4 24 | $208.4M | $2.2B | ||
| Q3 24 | $28.4M | $2.1B | ||
| Q2 24 | $23.7M | $2.1B |
总债务CWHROKU
| Q1 26 | — | — | ||
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.5B | — | ||
| Q2 25 | $1.5B | — | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | $1.5B | — | ||
| Q2 24 | $1.5B | — |
股东权益CWHROKU
| Q1 26 | — | $2.7B | ||
| Q4 25 | $228.6M | $2.7B | ||
| Q3 25 | $296.2M | $2.6B | ||
| Q2 25 | $340.5M | $2.6B | ||
| Q1 25 | $310.5M | $2.5B | ||
| Q4 24 | $326.6M | $2.5B | ||
| Q3 24 | $151.6M | $2.5B | ||
| Q2 24 | $149.7M | $2.4B |
总资产CWHROKU
| Q1 26 | — | $4.4B | ||
| Q4 25 | $5.0B | $4.4B | ||
| Q3 25 | $5.0B | $4.4B | ||
| Q2 25 | $5.2B | $4.3B | ||
| Q1 25 | $5.1B | $4.2B | ||
| Q4 24 | $4.9B | $4.3B | ||
| Q3 24 | $4.7B | $4.3B | ||
| Q2 24 | $5.0B | $4.1B |
负债/权益比CWHROKU
| Q1 26 | — | — | ||
| Q4 25 | 6.44× | — | ||
| Q3 25 | 5.00× | — | ||
| Q2 25 | 4.42× | — | ||
| Q1 25 | 4.87× | — | ||
| Q4 24 | 4.64× | — | ||
| Q3 24 | 10.09× | — | ||
| 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 | $199.1M |
| 自由现金流经营现金流 - 资本支出 | — | $298.4M |
| 自由现金流率自由现金流/营收 | — | 23.9% |
| 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 | — | — |
| 过去12个月自由现金流最近4个季度 | — | $640.0M |
8季度趋势，按日历期对齐
经营现金流CWHROKU
| Q1 26 | — | $199.1M | ||
| Q4 25 | $-227.2M | $107.7M | ||
| Q3 25 | $139.8M | $127.6M | ||
| Q2 25 | $187.9M | $109.7M | ||
| Q1 25 | $-232.5M | $138.7M | ||
| Q4 24 | $-163.4M | $79.3M | ||
| Q3 24 | $324.2M | $68.7M | ||
| Q2 24 | $152.3M | $23.4M |
自由现金流CWHROKU
| Q1 26 | — | $298.4M | ||
| Q4 25 | — | $106.6M | ||
| Q3 25 | — | $126.5M | ||
| Q2 25 | — | $108.6M | ||
| Q1 25 | — | $136.8M | ||
| Q4 24 | — | $76.8M | ||
| Q3 24 | — | $67.6M | ||
| Q2 24 | — | $22.5M |
自由现金流率CWHROKU
| Q1 26 | — | 23.9% | ||
| Q4 25 | — | 7.6% | ||
| Q3 25 | — | 10.4% | ||
| Q2 25 | — | 9.8% | ||
| Q1 25 | — | 13.4% | ||
| Q4 24 | — | 6.4% | ||
| Q3 24 | — | 6.4% | ||
| Q2 24 | — | 2.3% |
资本支出强度CWHROKU
| Q1 26 | — | — | ||
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | 0.1% |
现金转化率CWHROKU
| Q1 26 | — | — | ||
| Q4 25 | — | 1.34× | ||
| Q3 25 | — | 5.14× | ||
| Q2 25 | 6.22× | 10.45× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 58.93× | — | ||
| Q2 24 | 15.59× | — |
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% |
ROKU
| Advertising | $612.7M | 49% |
| Subscriptions | $518.5M | 42% |
| Devices | $117.6M | 9% |
