vs
戴德梁行（CWK）与庞贝捷工业（PPG）财务数据对比。点击上方公司名可切换其他公司
庞贝捷工业的季度营收约是戴德梁行的1.3倍（$3.9B vs $2.9B），庞贝捷工业净利率更高（9.8% vs -0.8%，领先10.6%），戴德梁行同比增速更快（10.8% vs 6.7%），过去两年戴德梁行的营收复合增速更高（15.5% vs -9.5%）
戴德梁行是全球化的商业地产及物业管理服务提供商，总部位于美国伊利诺伊州芝加哥，由联合创始人J·克莱兹代尔·库什曼和伯纳德·韦克菲尔德共同创立，在全球商业地产服务领域拥有广泛的业务布局与专业服务能力，为各类客户提供定制化的地产相关解决方案。
庞贝捷工业是总部位于美国宾夕法尼亚州匹兹堡的涂料及特种材料供应商，业务覆盖全球70多个国家，位列《财富》世界500强，按营收计算为全球第二大涂料企业，仅次于宣伟，其总部PPG广场的玻璃外立面由知名后现代建筑师菲利普·约翰逊设计。
CWK vs PPG — 直观对比
营收规模更大
PPG
是对方的1.3倍
$2.9B
营收增速更快
CWK
高出4.1%
6.7%
净利率更高
PPG
高出10.6%
-0.8%
两年增速更快
CWK
近两年复合增速
-9.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.9B | $3.9B |
| 净利润 | $-22.4M | $385.0M |
| 毛利率 | — | — |
| 营业利润率 | 6.1% | — |
| 净利率 | -0.8% | 9.8% |
| 营收同比 | 10.8% | 6.7% |
| 净利润同比 | -119.8% | 1.9% |
| 每股收益（稀释后） | $-0.10 | — |
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CWKPPG
| Q1 26 | — | $3.9B | ||
| Q4 25 | $2.9B | $3.9B | ||
| Q3 25 | $2.6B | $4.1B | ||
| Q2 25 | $2.5B | $4.2B | ||
| Q1 25 | $2.3B | $3.7B | ||
| Q4 24 | $2.6B | $2.2B | ||
| Q3 24 | $2.3B | $4.6B | ||
| Q2 24 | $2.3B | $4.8B |
净利润CWKPPG
| Q1 26 | — | $385.0M | ||
| Q4 25 | $-22.4M | $300.0M | ||
| Q3 25 | $51.4M | $453.0M | ||
| Q2 25 | $57.3M | $450.0M | ||
| Q1 25 | $1.9M | $373.0M | ||
| Q4 24 | $112.9M | $-280.0M | ||
| Q3 24 | $33.7M | $468.0M | ||
| Q2 24 | $13.5M | $528.0M |
毛利率CWKPPG
| Q1 26 | — | — | ||
| Q4 25 | — | 40.8% | ||
| Q3 25 | — | 40.6% | ||
| Q2 25 | — | 42.0% | ||
| Q1 25 | — | 41.9% | ||
| Q4 24 | — | 34.9% | ||
| Q3 24 | — | 41.8% | ||
| Q2 24 | — | 43.0% |
营业利润率CWKPPG
| Q1 26 | — | — | ||
| Q4 25 | 6.1% | 9.9% | ||
| Q3 25 | 4.1% | 16.9% | ||
| Q2 25 | 4.9% | 17.7% | ||
| Q1 25 | 2.0% | 16.5% | ||
| Q4 24 | 6.6% | 0.5% | ||
| Q3 24 | 3.2% | 15.6% | ||
| Q2 24 | 3.1% | 17.3% |
净利率CWKPPG
| Q1 26 | — | 9.8% | ||
| Q4 25 | -0.8% | 7.7% | ||
| Q3 25 | 2.0% | 11.1% | ||
| Q2 25 | 2.3% | 10.7% | ||
| Q1 25 | 0.1% | 10.1% | ||
| Q4 24 | 4.3% | -12.9% | ||
| Q3 24 | 1.4% | 10.2% | ||
| Q2 24 | 0.6% | 11.0% |
每股收益（稀释后）CWKPPG
| Q1 26 | — | — | ||
| Q4 25 | $-0.10 | $1.33 | ||
| Q3 25 | $0.22 | $2.00 | ||
| Q2 25 | $0.25 | $1.98 | ||
| Q1 25 | $0.01 | $1.63 | ||
| Q4 24 | $0.49 | $-1.18 | ||
| Q3 24 | $0.14 | $2.00 | ||
| Q2 24 | $0.06 | $2.24 |
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 | $784.2M | $1.6B |
| 总债务越低越好 | $2.7B | $6.4B |
| 股东权益账面价值 | $2.0B | — |
| 总资产 | $7.7B | — |
| 负债/权益比越低杠杆越低 | 1.40× | — |
8季度趋势，按日历期对齐
现金及短期投资CWKPPG
| Q1 26 | — | $1.6B | ||
| Q4 25 | $784.2M | $2.2B | ||
| Q3 25 | $634.4M | $1.9B | ||
| Q2 25 | $618.2M | $1.6B | ||
| Q1 25 | $623.2M | $1.9B | ||
| Q4 24 | $793.3M | $1.4B | ||
| Q3 24 | $775.4M | $1.3B | ||
| Q2 24 | $567.3M | $1.2B |
总债务CWKPPG
| Q1 26 | — | $6.4B | ||
| Q4 25 | $2.7B | $7.3B | ||
| Q3 25 | $2.8B | $7.3B | ||
| Q2 25 | $3.0B | $7.3B | ||
| Q1 25 | $3.0B | $7.2B | ||
| Q4 24 | $3.0B | $5.8B | ||
| Q3 24 | $3.1B | $6.5B | ||
| Q2 24 | $3.1B | $6.4B |
股东权益CWKPPG
| Q1 26 | — | — | ||
| Q4 25 | $2.0B | $7.9B | ||
| Q3 25 | $2.0B | $7.8B | ||
| Q2 25 | $1.9B | $7.6B | ||
| Q1 25 | $1.8B | $6.9B | ||
| Q4 24 | $1.8B | $6.8B | ||
| Q3 24 | $1.7B | $7.8B | ||
| Q2 24 | $1.6B | $7.8B |
总资产CWKPPG
| Q1 26 | — | — | ||
| Q4 25 | $7.7B | $22.1B | ||
| Q3 25 | $7.7B | $22.1B | ||
| Q2 25 | $7.6B | $22.1B | ||
| Q1 25 | $7.4B | $21.1B | ||
| Q4 24 | $7.5B | $19.4B | ||
| Q3 24 | $7.5B | $21.9B | ||
| Q2 24 | $7.3B | $21.7B |
负债/权益比CWKPPG
| Q1 26 | — | — | ||
| Q4 25 | 1.40× | 0.92× | ||
| Q3 25 | 1.45× | 0.94× | ||
| Q2 25 | 1.57× | 0.97× | ||
| Q1 25 | 1.70× | 1.05× | ||
| Q4 24 | 1.73× | 0.86× | ||
| Q3 24 | 1.81× | 0.83× | ||
| Q2 24 | 1.91× | 0.82× |
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 | $257.3M | — |
| 自由现金流经营现金流 - 资本支出 | $234.3M | — |
| 自由现金流率自由现金流/营收 | 8.0% | — |
| 资本支出强度资本支出/营收 | 0.8% | 5.0% |
| 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 | $293.0M | — |
8季度趋势，按日历期对齐
经营现金流CWKPPG
| Q1 26 | — | — | ||
| Q4 25 | $257.3M | $887.0M | ||
| Q3 25 | $235.5M | $685.0M | ||
| Q2 25 | $9.6M | $387.0M | ||
| Q1 25 | $-162.0M | $-18.0M | ||
| Q4 24 | $115.2M | $346.0M | ||
| Q3 24 | $196.1M | $769.0M | ||
| Q2 24 | $21.8M | $365.0M |
自由现金流CWKPPG
| Q1 26 | — | — | ||
| Q4 25 | $234.3M | $586.0M | ||
| Q3 25 | $225.0M | $538.0M | ||
| Q2 25 | $300.0K | $266.0M | ||
| Q1 25 | $-166.6M | $-227.0M | ||
| Q4 24 | $105.9M | $148.0M | ||
| Q3 24 | $186.7M | $620.0M | ||
| Q2 24 | $10.0M | $247.0M |
自由现金流率CWKPPG
| Q1 26 | — | — | ||
| Q4 25 | 8.0% | 15.0% | ||
| Q3 25 | 8.6% | 13.2% | ||
| Q2 25 | 0.0% | 6.3% | ||
| Q1 25 | -7.3% | -6.2% | ||
| Q4 24 | 4.0% | 6.8% | ||
| Q3 24 | 8.0% | 13.6% | ||
| Q2 24 | 0.4% | 5.2% |
资本支出强度CWKPPG
| Q1 26 | — | 5.0% | ||
| Q4 25 | 0.8% | 7.7% | ||
| Q3 25 | 0.4% | 3.6% | ||
| Q2 25 | 0.4% | 2.9% | ||
| Q1 25 | 0.2% | 5.7% | ||
| Q4 24 | 0.4% | 9.1% | ||
| Q3 24 | 0.4% | 3.3% | ||
| Q2 24 | 0.5% | 2.5% |
现金转化率CWKPPG
| Q1 26 | — | — | ||
| Q4 25 | — | 2.96× | ||
| Q3 25 | 4.58× | 1.51× | ||
| Q2 25 | 0.17× | 0.86× | ||
| Q1 25 | -85.26× | -0.05× | ||
| Q4 24 | 1.02× | — | ||
| Q3 24 | 5.82× | 1.64× | ||
| Q2 24 | 1.61× | 0.69× |
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
CWK
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $1.8B | 61% |
| Other | $1.1B | 39% |
PPG
| Industrial Coatings | $1.6B | 42% |
| Performance Coatings | $1.3B | 34% |
| Global Architectural Coatings | $965.0M | 25% |
