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Camping World Holdings, Inc.（CWH）与Royalty Pharma plc（RPRX）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Royalty Pharma plc的1.9倍（$1.2B vs $622.0M），Royalty Pharma plc净利率更高（34.4% vs -9.3%，领先43.7%），Royalty Pharma plc同比增速更快（4.8% vs -2.6%），过去两年Royalty Pharma plc的营收复合增速更高（4.6% 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。
本公司是总部位于美国马萨诸塞州剑桥市的临床阶段生物制药企业，专注于研发可调节转化生长因子β（TGF-β）超家族蛋白的药物，该类蛋白在红细胞、肌肉、骨骼、血管等细胞与组织的生长修复过程中发挥核心作用。
CWH vs RPRX — 直观对比
营收规模更大
CWH
是对方的1.9倍
$622.0M
营收增速更快
RPRX
高出7.3%
-2.6%
净利率更高
RPRX
高出43.7%
-9.3%
两年增速更快
RPRX
近两年复合增速
-7.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $622.0M |
| 净利润 | $-109.1M | $214.2M |
| 毛利率 | 28.8% | — |
| 营业利润率 | -4.3% | 62.4% |
| 净利率 | -9.3% | 34.4% |
| 营收同比 | -2.6% | 4.8% |
| 净利润同比 | -83.3% | 2.9% |
| 每股收益（稀释后） | — | $0.49 |
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CWHRPRX
| Q4 25 | $1.2B | $622.0M | ||
| Q3 25 | $1.8B | $609.3M | ||
| Q2 25 | $2.0B | $578.7M | ||
| Q1 25 | $1.4B | $568.2M | ||
| Q4 24 | $1.2B | $593.6M | ||
| Q3 24 | $1.7B | $564.7M | ||
| Q2 24 | $1.8B | $537.3M | ||
| Q1 24 | $1.4B | $568.0M |
净利润CWHRPRX
| Q4 25 | $-109.1M | $214.2M | ||
| Q3 25 | $-40.4M | $288.2M | ||
| Q2 25 | $30.2M | $30.2M | ||
| Q1 25 | $-12.3M | $238.3M | ||
| Q4 24 | $-59.5M | $208.2M | ||
| Q3 24 | $5.5M | $544.0M | ||
| Q2 24 | $9.8M | $102.0M | ||
| Q1 24 | $-22.3M | $4.8M |
毛利率CWHRPRX
| Q4 25 | 28.8% | — | ||
| Q3 25 | 28.6% | — | ||
| Q2 25 | 30.0% | — | ||
| Q1 25 | 30.4% | — | ||
| Q4 24 | 31.3% | — | ||
| Q3 24 | 28.9% | — | ||
| Q2 24 | 30.3% | — | ||
| Q1 24 | 29.5% | — |
营业利润率CWHRPRX
| Q4 25 | -4.3% | 62.4% | ||
| Q3 25 | 4.4% | 70.1% | ||
| Q2 25 | 6.6% | 36.3% | ||
| Q1 25 | 1.5% | 94.0% | ||
| Q4 24 | -1.3% | 60.9% | ||
| Q3 24 | 3.7% | — | ||
| Q2 24 | 5.3% | 50.2% | ||
| Q1 24 | 0.3% | -13.0% |
净利率CWHRPRX
| Q4 25 | -9.3% | 34.4% | ||
| Q3 25 | -2.2% | 47.3% | ||
| Q2 25 | 1.5% | 5.2% | ||
| Q1 25 | -0.9% | 41.9% | ||
| Q4 24 | -4.9% | 35.1% | ||
| Q3 24 | 0.3% | 96.3% | ||
| Q2 24 | 0.5% | 19.0% | ||
| Q1 24 | -1.6% | 0.8% |
每股收益（稀释后）CWHRPRX
| Q4 25 | — | $0.49 | ||
| Q3 25 | — | $0.67 | ||
| Q2 25 | — | $0.07 | ||
| Q1 25 | — | $0.55 | ||
| Q4 24 | — | $0.46 | ||
| Q3 24 | — | $1.21 | ||
| Q2 24 | — | $0.23 | ||
| Q1 24 | — | $0.01 |
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 | $618.7M |
| 总债务越低越好 | $1.5B | $9.0B |
| 股东权益账面价值 | $228.6M | $9.7B |
| 总资产 | $5.0B | $19.6B |
| 负债/权益比越低杠杆越低 | 6.44× | 0.92× |
8季度趋势，按日历期对齐
现金及短期投资CWHRPRX
| Q4 25 | $215.0M | $618.7M | ||
| Q3 25 | $230.5M | $938.9M | ||
| Q2 25 | $118.1M | $631.9M | ||
| Q1 25 | $20.9M | $1.1B | ||
| Q4 24 | $208.4M | $929.0M | ||
| Q3 24 | $28.4M | $950.1M | ||
| Q2 24 | $23.7M | $1.8B | ||
| Q1 24 | $29.7M | $843.0M |
总债务CWHRPRX
| Q4 25 | $1.5B | $9.0B | ||
| Q3 25 | $1.5B | $8.9B | ||
| Q2 25 | $1.5B | $8.0B | ||
| Q1 25 | $1.5B | $7.6B | ||
| Q4 24 | $1.5B | $7.6B | ||
| Q3 24 | $1.5B | $7.6B | ||
| Q2 24 | $1.5B | $7.6B | ||
| Q1 24 | $1.6B | $6.1B |
股东权益CWHRPRX
| Q4 25 | $228.6M | $9.7B | ||
| Q3 25 | $296.2M | $9.6B | ||
| Q2 25 | $340.5M | $9.5B | ||
| Q1 25 | $310.5M | $9.8B | ||
| Q4 24 | $326.6M | $10.3B | ||
| Q3 24 | $151.6M | $10.3B | ||
| Q2 24 | $149.7M | $9.8B | ||
| Q1 24 | $142.8M | $9.9B |
总资产CWHRPRX
| Q4 25 | $5.0B | $19.6B | ||
| Q3 25 | $5.0B | $19.3B | ||
| Q2 25 | $5.2B | $18.3B | ||
| Q1 25 | $5.1B | $17.6B | ||
| Q4 24 | $4.9B | $18.2B | ||
| Q3 24 | $4.7B | $18.0B | ||
| Q2 24 | $5.0B | $17.7B | ||
| Q1 24 | $5.1B | $16.1B |
负债/权益比CWHRPRX
| Q4 25 | 6.44× | 0.92× | ||
| Q3 25 | 5.00× | 0.93× | ||
| Q2 25 | 4.42× | 0.84× | ||
| Q1 25 | 4.87× | 0.78× | ||
| Q4 24 | 4.64× | 0.74× | ||
| Q3 24 | 10.09× | 0.74× | ||
| Q2 24 | 10.28× | 0.78× | ||
| Q1 24 | 11.00× | 0.62× |
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 | $827.1M |
| 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 | — | 3.86× |
| 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CWHRPRX
| Q4 25 | $-227.2M | $827.1M | ||
| Q3 25 | $139.8M | $702.6M | ||
| Q2 25 | $187.9M | $364.0M | ||
| Q1 25 | $-232.5M | $596.1M | ||
| Q4 24 | $-163.4M | $742.5M | ||
| Q3 24 | $324.2M | $703.6M | ||
| Q2 24 | $152.3M | $658.2M | ||
| Q1 24 | $-68.0M | $664.6M |
现金转化率CWHRPRX
| Q4 25 | — | 3.86× | ||
| Q3 25 | — | 2.44× | ||
| Q2 25 | 6.22× | 12.06× | ||
| Q1 25 | — | 2.50× | ||
| Q4 24 | — | 3.57× | ||
| Q3 24 | 58.93× | 1.29× | ||
| Q2 24 | 15.59× | 6.45× | ||
| Q1 24 | — | 139.10× |
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% |
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
