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Camping World Holdings, Inc.（CWH）与RUSH ENTERPRISES INC \TX\（RUSHA）财务数据对比。点击上方公司名可切换其他公司
RUSH ENTERPRISES INC \TX\的季度营收约是Camping World Holdings, Inc.的1.4倍（$1.7B vs $1.2B）。RUSH ENTERPRISES INC \TX\净利率更高（3.8% vs -9.3%，领先13.1%）。Camping World Holdings, Inc.同比增速更快（-2.6% vs -12.5%）。过去两年RUSH ENTERPRISES INC \TX\的营收复合增速更高（-3.0% 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。
Rush Enterprises是总部位于美国得克萨斯州新布朗费尔斯的商用车经销商，核心业务是通过旗下Rush Truck Centers销售全新及二手卡车。2019年该公司在全美20个州运营超200家卡车中心，在加拿大设有14个网点，2020年入选财富500强榜单。
CWH vs RUSHA — 直观对比
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.7B |
| 净利润 | $-109.1M | $64.3M |
| 毛利率 | 28.8% | 20.8% |
| 营业利润率 | -4.3% | 5.5% |
| 净利率 | -9.3% | 3.8% |
| 营收同比 | -2.6% | -12.5% |
| 净利润同比 | -83.3% | -13.9% |
| 每股收益（稀释后） | — | $0.81 |
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
| Q4 25 | $1.2B | $1.7B | ||
| Q3 25 | $1.8B | $1.8B | ||
| Q2 25 | $2.0B | $1.8B | ||
| Q1 25 | $1.4B | $1.8B | ||
| Q4 24 | $1.2B | $1.9B | ||
| Q3 24 | $1.7B | $1.8B | ||
| Q2 24 | $1.8B | $1.9B | ||
| Q1 24 | $1.4B | $1.8B |
| Q4 25 | $-109.1M | $64.3M | ||
| Q3 25 | $-40.4M | $66.7M | ||
| Q2 25 | $30.2M | $72.4M | ||
| Q1 25 | $-12.3M | $60.3M | ||
| Q4 24 | $-59.5M | $74.8M | ||
| Q3 24 | $5.5M | $79.1M | ||
| Q2 24 | $9.8M | $78.7M | ||
| Q1 24 | $-22.3M | $71.6M |
| Q4 25 | 28.8% | 20.8% | ||
| Q3 25 | 28.6% | 21.0% | ||
| Q2 25 | 30.0% | 20.7% | ||
| Q1 25 | 30.4% | 20.3% | ||
| Q4 24 | 31.3% | 19.3% | ||
| Q3 24 | 28.9% | 21.0% | ||
| Q2 24 | 30.3% | 20.2% | ||
| Q1 24 | 29.5% | 21.9% |
| Q4 25 | -4.3% | 5.5% | ||
| Q3 25 | 4.4% | 5.6% | ||
| Q2 25 | 6.6% | 6.0% | ||
| Q1 25 | 1.5% | 5.2% | ||
| Q4 24 | -1.3% | 5.8% | ||
| Q3 24 | 3.7% | 6.7% | ||
| Q2 24 | 5.3% | 6.4% | ||
| Q1 24 | 0.3% | 6.2% |
| Q4 25 | -9.3% | 3.8% | ||
| Q3 25 | -2.2% | 3.7% | ||
| Q2 25 | 1.5% | 3.9% | ||
| Q1 25 | -0.9% | 3.4% | ||
| Q4 24 | -4.9% | 3.9% | ||
| Q3 24 | 0.3% | 4.4% | ||
| Q2 24 | 0.5% | 4.1% | ||
| Q1 24 | -1.6% | 4.0% |
| Q4 25 | — | $0.81 | ||
| Q3 25 | — | $0.83 | ||
| Q2 25 | — | $0.90 | ||
| Q1 25 | — | $0.73 | ||
| Q4 24 | — | $-95.13 | ||
| Q3 24 | — | $0.97 | ||
| Q2 24 | — | $97.00 | ||
| Q1 24 | — | $0.88 |
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 | $212.6M |
| 总债务越低越好 | $1.5B | $274.8M |
| 股东权益账面价值 | $228.6M | $2.2B |
| 总资产 | $5.0B | $4.4B |
| 负债/权益比越低杠杆越低 | 6.44× | 0.12× |
8季度趋势，按日历期对齐
| Q4 25 | $215.0M | $212.6M | ||
| Q3 25 | $230.5M | $242.0M | ||
| Q2 25 | $118.1M | $211.1M | ||
| Q1 25 | $20.9M | $228.7M | ||
| Q4 24 | $208.4M | $228.1M | ||
| Q3 24 | $28.4M | $185.1M | ||
| Q2 24 | $23.7M | $167.3M | ||
| Q1 24 | $29.7M | $155.9M |
| Q4 25 | $1.5B | $274.8M | ||
| Q3 25 | $1.5B | — | ||
| Q2 25 | $1.5B | — | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $1.5B | $408.4M | ||
| Q3 24 | $1.5B | — | ||
| Q2 24 | $1.5B | — | ||
| Q1 24 | $1.6B | — |
| Q4 25 | $228.6M | $2.2B | ||
| Q3 25 | $296.2M | $2.2B | ||
| Q2 25 | $340.5M | $2.2B | ||
| Q1 25 | $310.5M | $2.2B | ||
| Q4 24 | $326.6M | $2.1B | ||
| Q3 24 | $151.6M | $2.1B | ||
| Q2 24 | $149.7M | $2.0B | ||
| Q1 24 | $142.8M | $1.9B |
| Q4 25 | $5.0B | $4.4B | ||
| Q3 25 | $5.0B | $4.6B | ||
| Q2 25 | $5.2B | $4.7B | ||
| Q1 25 | $5.1B | $4.7B | ||
| Q4 24 | $4.9B | $4.6B | ||
| Q3 24 | $4.7B | $4.6B | ||
| Q2 24 | $5.0B | $4.5B | ||
| Q1 24 | $5.1B | $4.6B |
| Q4 25 | 6.44× | 0.12× | ||
| Q3 25 | 5.00× | — | ||
| Q2 25 | 4.42× | — | ||
| Q1 25 | 4.87× | — | ||
| Q4 24 | 4.64× | 0.19× | ||
| 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 | $112.9M |
| 自由现金流经营现金流 - 资本支出 | — | $31.9M |
| 自由现金流率自由现金流/营收 | — | 1.9% |
| 资本支出强度资本支出/营收 | — | 4.8% |
| 现金转化率经营现金流/净利润 | — | 1.75× |
| 过去12个月自由现金流最近4个季度 | — | $462.0M |
8季度趋势，按日历期对齐
| Q4 25 | $-227.2M | $112.9M | ||
| Q3 25 | $139.8M | $367.8M | ||
| Q2 25 | $187.9M | $227.6M | ||
| Q1 25 | $-232.5M | $153.5M | ||
| Q4 24 | $-163.4M | $392.3M | ||
| Q3 24 | $324.2M | $111.7M | ||
| Q2 24 | $152.3M | $270.6M | ||
| Q1 24 | $-68.0M | $-155.1M |
| Q4 25 | — | $31.9M | ||
| Q3 25 | — | $271.2M | ||
| Q2 25 | — | $113.8M | ||
| Q1 25 | — | $45.1M | ||
| Q4 24 | — | $263.5M | ||
| Q3 24 | — | $-20.0M | ||
| Q2 24 | — | $177.2M | ||
| Q1 24 | — | $-234.2M |
| Q4 25 | — | 1.9% | ||
| Q3 25 | — | 15.2% | ||
| Q2 25 | — | 6.2% | ||
| Q1 25 | — | 2.6% | ||
| Q4 24 | — | 13.7% | ||
| Q3 24 | — | -1.1% | ||
| Q2 24 | — | 9.1% | ||
| Q1 24 | — | -13.1% |
| Q4 25 | — | 4.8% | ||
| Q3 25 | — | 5.4% | ||
| Q2 25 | — | 6.2% | ||
| Q1 25 | — | 6.2% | ||
| Q4 24 | — | 6.7% | ||
| Q3 24 | — | 7.3% | ||
| Q2 24 | — | 4.8% | ||
| Q1 24 | — | 4.4% |
| Q4 25 | — | 1.75× | ||
| Q3 25 | — | 5.51× | ||
| Q2 25 | 6.22× | 3.14× | ||
| Q1 25 | — | 2.55× | ||
| Q4 24 | — | 5.25× | ||
| Q3 24 | 58.93× | 1.41× | ||
| Q2 24 | 15.59× | 3.44× | ||
| Q1 24 | — | -2.17× |
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% |
RUSHA
| New And Used Commercial Vehicle | $1.0B | 62% |
| Parts | $364.2M | 22% |
| Commercial Vehicle Repair Service | $261.0M | 16% |
| Insurance | $2.5M | 0% |
| Financial Service | $2.3M | 0% |
