vs
Camping World Holdings, Inc.（CWH）与STEWART INFORMATION SERVICES CORP（STC）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STEWART INFORMATION SERVICES CORP的1.5倍（$1.2B vs $764.6M），STEWART INFORMATION SERVICES CORP净利率更高（2.2% vs -9.3%，领先11.5%），STEWART INFORMATION SERVICES CORP同比增速更快（27.7% vs -2.6%），过去两年STEWART INFORMATION SERVICES CORP的营收复合增速更高（12.7% 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。
斯图尔特信息服务公司（STC）是一家主营房地产信息、产权保险及交易管理服务的企业，旗下全资子公司斯图尔特产权担保公司、斯图尔特产权公司通过直营网点、斯图尔特可信供应商网络内的独立代理机构及合作企业，为美国及全球市场提供相关产品与服务，总部位于得克萨斯州休斯敦，现有员工约6350人。
CWH vs STC — 直观对比
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $764.6M |
| 净利润 | $-109.1M | $17.0M |
| 毛利率 | 28.8% | — |
| 营业利润率 | -4.3% | — |
| 净利率 | -9.3% | 2.2% |
| 营收同比 | -2.6% | 27.7% |
| 净利润同比 | -83.3% | 448.4% |
| 每股收益（稀释后） | — | — |
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
| Q1 26 | — | $764.6M | ||
| Q4 25 | $1.2B | $790.6M | ||
| Q3 25 | $1.8B | $796.9M | ||
| Q2 25 | $2.0B | $722.2M | ||
| Q1 25 | $1.4B | $612.0M | ||
| Q4 24 | $1.2B | $665.9M | ||
| Q3 24 | $1.7B | $667.9M | ||
| Q2 24 | $1.8B | $602.2M |
| Q1 26 | — | $17.0M | ||
| Q4 25 | $-109.1M | $36.3M | ||
| Q3 25 | $-40.4M | $44.3M | ||
| Q2 25 | $30.2M | $31.9M | ||
| Q1 25 | $-12.3M | $3.1M | ||
| Q4 24 | $-59.5M | $22.7M | ||
| Q3 24 | $5.5M | $30.1M | ||
| Q2 24 | $9.8M | $17.3M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | -4.3% | 6.5% | ||
| Q3 25 | 4.4% | 7.7% | ||
| Q2 25 | 6.6% | 6.5% | ||
| Q1 25 | 1.5% | 1.0% | ||
| Q4 24 | -1.3% | 5.3% | ||
| Q3 24 | 3.7% | 6.4% | ||
| Q2 24 | 5.3% | 4.8% |
| Q1 26 | — | 2.2% | ||
| Q4 25 | -9.3% | 4.6% | ||
| Q3 25 | -2.2% | 5.6% | ||
| Q2 25 | 1.5% | 4.4% | ||
| Q1 25 | -0.9% | 0.5% | ||
| Q4 24 | -4.9% | 3.4% | ||
| Q3 24 | 0.3% | 4.5% | ||
| Q2 24 | 0.5% | 2.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | $1.26 | ||
| Q3 25 | — | $1.55 | ||
| Q2 25 | — | $1.13 | ||
| Q1 25 | — | $0.11 | ||
| Q4 24 | — | $0.81 | ||
| Q3 24 | — | $1.07 | ||
| Q2 24 | — | $0.62 |
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 | $317.5M |
| 总债务越低越好 | $1.5B | — |
| 股东权益账面价值 | $228.6M | — |
| 总资产 | $5.0B | — |
| 负债/权益比越低杠杆越低 | 6.44× | — |
8季度趋势，按日历期对齐
| Q1 26 | — | $317.5M | ||
| Q4 25 | $215.0M | $369.7M | ||
| Q3 25 | $230.5M | $233.2M | ||
| Q2 25 | $118.1M | $223.8M | ||
| Q1 25 | $20.9M | $194.2M | ||
| Q4 24 | $208.4M | $257.5M | ||
| Q3 24 | $28.4M | $228.7M | ||
| Q2 24 | $23.7M | $176.7M |
| Q1 26 | — | — | ||
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.5B | — | ||
| Q2 25 | $1.5B | — | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $1.5B | $445.8M | ||
| Q3 24 | $1.5B | — | ||
| Q2 24 | $1.5B | — |
| Q1 26 | — | — | ||
| Q4 25 | $228.6M | $1.6B | ||
| Q3 25 | $296.2M | $1.5B | ||
| Q2 25 | $340.5M | $1.4B | ||
| Q1 25 | $310.5M | $1.4B | ||
| Q4 24 | $326.6M | $1.4B | ||
| Q3 24 | $151.6M | $1.4B | ||
| Q2 24 | $149.7M | $1.4B |
| Q1 26 | — | — | ||
| Q4 25 | $5.0B | $3.3B | ||
| Q3 25 | $5.0B | $2.8B | ||
| Q2 25 | $5.2B | $2.8B | ||
| Q1 25 | $5.1B | $2.7B | ||
| Q4 24 | $4.9B | $2.7B | ||
| Q3 24 | $4.7B | $2.7B | ||
| Q2 24 | $5.0B | $2.6B |
| Q1 26 | — | — | ||
| Q4 25 | 6.44× | — | ||
| Q3 25 | 5.00× | — | ||
| Q2 25 | 4.42× | — | ||
| Q1 25 | 4.87× | — | ||
| Q4 24 | 4.64× | 0.32× | ||
| 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 | — |
| 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 | — | — |
| 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
| Q1 26 | — | — | ||
| Q4 25 | $-227.2M | $89.5M | ||
| Q3 25 | $139.8M | $92.6M | ||
| Q2 25 | $187.9M | $53.4M | ||
| Q1 25 | $-232.5M | $-29.9M | ||
| Q4 24 | $-163.4M | $68.0M | ||
| Q3 24 | $324.2M | $76.1M | ||
| Q2 24 | $152.3M | $21.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | $62.3M | ||
| Q3 25 | — | $73.6M | ||
| Q2 25 | — | $38.7M | ||
| Q1 25 | — | $-42.2M | ||
| Q4 24 | — | $55.6M | ||
| Q3 24 | — | $67.4M | ||
| Q2 24 | — | $11.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | 7.9% | ||
| Q3 25 | — | 9.2% | ||
| Q2 25 | — | 5.4% | ||
| Q1 25 | — | -6.9% | ||
| Q4 24 | — | 8.4% | ||
| Q3 24 | — | 10.1% | ||
| Q2 24 | — | 2.0% |
| Q1 26 | — | — | ||
| Q4 25 | — | 3.4% | ||
| Q3 25 | — | 2.4% | ||
| Q2 25 | — | 2.0% | ||
| Q1 25 | — | 2.0% | ||
| Q4 24 | — | 1.9% | ||
| Q3 24 | — | 1.3% | ||
| Q2 24 | — | 1.5% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.47× | ||
| Q3 25 | — | 2.09× | ||
| Q2 25 | 6.22× | 1.67× | ||
| Q1 25 | — | -9.73× | ||
| Q4 24 | — | 2.99× | ||
| Q3 24 | 58.93× | 2.53× | ||
| Q2 24 | 15.59× | 1.22× |
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% |
STC
| Agency title | $333.0M | 44% |
| Direct title | $270.2M | 35% |
| Real estate solutions | $161.4M | 21% |
