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SPORTSMAN'S WAREHOUSE HOLDINGS, INC.（SPWH）与Tyler Technologies（TYL）财务数据对比。点击上方公司名可切换其他公司
Tyler Technologies的季度营收约是SPORTSMAN'S WAREHOUSE HOLDINGS, INC.的1.9倍（$613.5M vs $331.3M），Tyler Technologies净利率更高（13.2% vs 0.0%，领先13.2%），Tyler Technologies同比增速更快（8.6% vs 2.2%），SPORTSMAN'S WAREHOUSE HOLDINGS, INC.自由现金流更多（$8.7M vs $2.0M），过去两年Tyler Technologies的营收复合增速更高（6.5% vs -5.4%）
运动员仓库控股（Sportsman's Warehouse）是美国户外体育用品零售商，门店遍布全美29个州，主要面向狩猎、射击、露营、垂钓等各类户外休闲运动爱好者，销售户外服饰、鞋履及专业运动装备。
Tyler Technologies, Inc.是总部位于美国得克萨斯州普莱诺的科技企业，主营面向美国公共部门提供自研专有软件，目前在全美17个州设有办事处，另在加拿大安大略省多伦多市设有一处办公网点。
SPWH vs TYL — 直观对比
营收规模更大
TYL
是对方的1.9倍
$331.3M
营收增速更快
TYL
高出6.4%
2.2%
净利率更高
TYL
高出13.2%
0.0%
自由现金流更多
SPWH
多$6.7M
$2.0M
两年增速更快
TYL
近两年复合增速
-5.4%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $331.3M | $613.5M |
| 净利润 | $8.0K | $81.2M |
| 毛利率 | 32.8% | 48.3% |
| 营业利润率 | 1.3% | 16.3% |
| 净利率 | 0.0% | 13.2% |
| 营收同比 | 2.2% | 8.6% |
| 净利润同比 | -97.8% | — |
| 每股收益（稀释后） | $0.00 | $1.88 |
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SPWHTYL
| Q1 26 | — | $613.5M | ||
| Q4 25 | $331.3M | $575.2M | ||
| Q3 25 | $293.9M | $595.9M | ||
| Q2 25 | $249.1M | $596.1M | ||
| Q1 25 | $340.4M | $565.2M | ||
| Q4 24 | $324.3M | $541.1M | ||
| Q3 24 | $288.7M | $543.3M | ||
| Q2 24 | $244.2M | $541.0M |
净利润SPWHTYL
| Q1 26 | — | $81.2M | ||
| Q4 25 | $8.0K | $65.5M | ||
| Q3 25 | $-7.1M | $84.4M | ||
| Q2 25 | $-21.3M | $84.6M | ||
| Q1 25 | $-8.7M | $81.1M | ||
| Q4 24 | $-364.0K | $65.2M | ||
| Q3 24 | $-5.9M | $75.9M | ||
| Q2 24 | $-18.1M | $67.7M |
毛利率SPWHTYL
| Q1 26 | — | 48.3% | ||
| Q4 25 | 32.8% | 45.5% | ||
| Q3 25 | 32.0% | 47.2% | ||
| Q2 25 | 30.4% | 45.8% | ||
| Q1 25 | 30.4% | 47.3% | ||
| Q4 24 | 31.8% | 43.8% | ||
| Q3 24 | 31.2% | 43.7% | ||
| Q2 24 | 30.2% | 44.0% |
营业利润率SPWHTYL
| Q1 26 | — | 16.3% | ||
| Q4 25 | 1.3% | 13.0% | ||
| Q3 25 | -1.1% | 16.4% | ||
| Q2 25 | -7.9% | 16.0% | ||
| Q1 25 | 1.1% | 15.8% | ||
| Q4 24 | 1.0% | 13.2% | ||
| Q3 24 | -1.5% | 15.2% | ||
| Q2 24 | -8.4% | 14.4% |
净利率SPWHTYL
| Q1 26 | — | 13.2% | ||
| Q4 25 | 0.0% | 11.4% | ||
| Q3 25 | -2.4% | 14.2% | ||
| Q2 25 | -8.5% | 14.2% | ||
| Q1 25 | -2.6% | 14.3% | ||
| Q4 24 | -0.1% | 12.1% | ||
| Q3 24 | -2.0% | 14.0% | ||
| Q2 24 | -7.4% | 12.5% |
每股收益（稀释后）SPWHTYL
| Q1 26 | — | $1.88 | ||
| Q4 25 | $0.00 | $1.50 | ||
| Q3 25 | $-0.18 | $1.93 | ||
| Q2 25 | $-0.56 | $1.93 | ||
| Q1 25 | $-0.22 | $1.84 | ||
| Q4 24 | $-0.01 | $1.48 | ||
| Q3 24 | $-0.16 | $1.74 | ||
| Q2 24 | $-0.48 | $1.57 |
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 | $2.2M | $346.4M |
| 总债务越低越好 | $44.0M | — |
| 股东权益账面价值 | $209.5M | $3.6B |
| 总资产 | $913.9M | $4.8B |
| 负债/权益比越低杠杆越低 | 0.21× | — |
8季度趋势，按日历期对齐
现金及短期投资SPWHTYL
| Q1 26 | — | $346.4M | ||
| Q4 25 | $2.2M | $1.1B | ||
| Q3 25 | $1.8M | $950.8M | ||
| Q2 25 | $3.6M | $892.3M | ||
| Q1 25 | $2.8M | $807.4M | ||
| Q4 24 | $2.7M | $768.0M | ||
| Q3 24 | $2.6M | $544.3M | ||
| Q2 24 | $2.2M | $258.0M |
总债务SPWHTYL
| Q1 26 | — | — | ||
| Q4 25 | $44.0M | $599.7M | ||
| Q3 25 | $43.9M | $599.2M | ||
| Q2 25 | $24.1M | $598.8M | ||
| Q1 25 | $24.1M | $598.4M | ||
| Q4 24 | $24.0M | $597.9M | ||
| Q3 24 | $24.0M | $597.5M | ||
| Q2 24 | — | $597.1M |
股东权益SPWHTYL
| Q1 26 | — | $3.6B | ||
| Q4 25 | $209.5M | $3.7B | ||
| Q3 25 | $208.9M | $3.6B | ||
| Q2 25 | $215.1M | $3.6B | ||
| Q1 25 | $235.7M | $3.5B | ||
| Q4 24 | $243.6M | $3.4B | ||
| Q3 24 | $243.0M | $3.3B | ||
| Q2 24 | $247.5M | $3.1B |
总资产SPWHTYL
| Q1 26 | — | $4.8B | ||
| Q4 25 | $913.9M | $5.6B | ||
| Q3 25 | $948.9M | $5.5B | ||
| Q2 25 | $929.7M | $5.4B | ||
| Q1 25 | $852.1M | $5.2B | ||
| Q4 24 | $967.7M | $5.2B | ||
| Q3 24 | $901.9M | $5.0B | ||
| Q2 24 | $930.4M | $4.8B |
负债/权益比SPWHTYL
| Q1 26 | — | — | ||
| Q4 25 | 0.21× | 0.16× | ||
| Q3 25 | 0.21× | 0.17× | ||
| Q2 25 | 0.11× | 0.16× | ||
| Q1 25 | 0.10× | 0.17× | ||
| Q4 24 | 0.10× | 0.18× | ||
| Q3 24 | 0.10× | 0.18× | ||
| Q2 24 | — | 0.19× |
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 | $16.3M | $107.3M |
| 自由现金流经营现金流 - 资本支出 | $8.7M | $2.0M |
| 自由现金流率自由现金流/营收 | 2.6% | 0.3% |
| 资本支出强度资本支出/营收 | 2.3% | — |
| 现金转化率经营现金流/净利润 | 2038.00× | 1.32× |
| 过去12个月自由现金流最近4个季度 | $-39.7M | $585.7M |
8季度趋势，按日历期对齐
经营现金流SPWHTYL
| Q1 26 | — | $107.3M | ||
| Q4 25 | $16.3M | $243.9M | ||
| Q3 25 | $-26.6M | $255.2M | ||
| Q2 25 | $-60.2M | $98.3M | ||
| Q1 25 | $52.8M | $56.2M | ||
| Q4 24 | $-2.5M | $224.8M | ||
| Q3 24 | $18.5M | $263.7M | ||
| Q2 24 | $-34.6M | $64.3M |
自由现金流SPWHTYL
| Q1 26 | — | $2.0M | ||
| Q4 25 | $8.7M | $239.6M | ||
| Q3 25 | $-33.9M | $251.3M | ||
| Q2 25 | $-64.0M | $92.8M | ||
| Q1 25 | $49.6M | $53.8M | ||
| Q4 24 | $-6.2M | $221.0M | ||
| Q3 24 | $14.1M | $260.8M | ||
| Q2 24 | $-38.0M | $57.7M |
自由现金流率SPWHTYL
| Q1 26 | — | 0.3% | ||
| Q4 25 | 2.6% | 41.7% | ||
| Q3 25 | -11.5% | 42.2% | ||
| Q2 25 | -25.7% | 15.6% | ||
| Q1 25 | 14.6% | 9.5% | ||
| Q4 24 | -1.9% | 40.8% | ||
| Q3 24 | 4.9% | 48.0% | ||
| Q2 24 | -15.5% | 10.7% |
资本支出强度SPWHTYL
| Q1 26 | — | — | ||
| Q4 25 | 2.3% | 0.8% | ||
| Q3 25 | 2.5% | 0.7% | ||
| Q2 25 | 1.5% | 0.9% | ||
| Q1 25 | 1.0% | 0.4% | ||
| Q4 24 | 1.1% | 0.7% | ||
| Q3 24 | 1.5% | 0.5% | ||
| Q2 24 | 1.4% | 1.2% |
现金转化率SPWHTYL
| Q1 26 | — | 1.32× | ||
| Q4 25 | 2038.00× | 3.72× | ||
| Q3 25 | — | 3.02× | ||
| Q2 25 | — | 1.16× | ||
| Q1 25 | — | 0.69× | ||
| Q4 24 | — | 3.45× | ||
| Q3 24 | — | 3.47× | ||
| Q2 24 | — | 0.95× |
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
SPWH
暂无分部数据
TYL
| Subscriptions | $429.7M | 70% |
| Maintenance | $108.9M | 18% |
| Other | $74.9M | 12% |
