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Enact Holdings, Inc.（ACT）与美世（MERC）财务数据对比。点击上方公司名可切换其他公司
美世的季度营收约是Enact Holdings, Inc.的1.4倍（$449.5M vs $312.7M），Enact Holdings, Inc.同比增速更快（3.6% vs -8.0%），过去两年Enact Holdings, Inc.的营收复合增速更高（3.6% vs -9.9%）
Enact Holdings, Inc.是美国领先的私人抵押贷款保险服务商，为银行、信用社等各类住宅抵押贷款机构提供风险缓释解决方案，帮助首付较低的购房者获得可负担的住房贷款，助力更多美国普通消费者实现安居需求。
美世是1945年成立的美国咨询公司，为全球专业服务集团威达信的四大运营子公司之一，总部位于纽约，在43个国家设有办事处，业务覆盖130个国家，主要为客户提供人力资源与金融咨询服务。
ACT vs MERC — 直观对比
营收规模更大
MERC
是对方的1.4倍
$312.7M
营收增速更快
ACT
高出11.6%
-8.0%
两年增速更快
ACT
近两年复合增速
-9.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $312.7M | $449.5M |
| 净利润 | — | $-308.7M |
| 毛利率 | — | — |
| 营业利润率 | 71.3% | -62.0% |
| 净利率 | — | -68.7% |
| 营收同比 | 3.6% | -8.0% |
| 净利润同比 | — | -1947.7% |
| 每股收益（稀释后） | $1.23 | $-4.61 |
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ACTMERC
| Q4 25 | $312.7M | $449.5M | ||
| Q3 25 | $311.5M | $458.1M | ||
| Q2 25 | $304.9M | $453.5M | ||
| Q1 25 | $306.8M | $507.0M | ||
| Q4 24 | $301.8M | $488.4M | ||
| Q3 24 | $309.6M | $502.1M | ||
| Q2 24 | $298.8M | $499.4M | ||
| Q1 24 | $291.6M | $553.4M |
净利润ACTMERC
| Q4 25 | — | $-308.7M | ||
| Q3 25 | — | $-80.8M | ||
| Q2 25 | — | $-86.1M | ||
| Q1 25 | — | $-22.3M | ||
| Q4 24 | — | $16.7M | ||
| Q3 24 | — | $-17.6M | ||
| Q2 24 | — | $-67.6M | ||
| Q1 24 | — | $-16.7M |
营业利润率ACTMERC
| Q4 25 | 71.3% | -62.0% | ||
| Q3 25 | 67.4% | -14.8% | ||
| Q2 25 | 70.4% | -12.9% | ||
| Q1 25 | 68.9% | 1.3% | ||
| Q4 24 | 68.9% | 10.3% | ||
| Q3 24 | 74.1% | 1.8% | ||
| Q2 24 | 78.6% | -8.8% | ||
| Q1 24 | 70.6% | -0.1% |
净利率ACTMERC
| Q4 25 | — | -68.7% | ||
| Q3 25 | — | -17.6% | ||
| Q2 25 | — | -19.0% | ||
| Q1 25 | — | -4.4% | ||
| Q4 24 | — | 3.4% | ||
| Q3 24 | — | -3.5% | ||
| Q2 24 | — | -13.5% | ||
| Q1 24 | — | -3.0% |
每股收益（稀释后）ACTMERC
| Q4 25 | $1.23 | $-4.61 | ||
| Q3 25 | $1.10 | $-1.21 | ||
| Q2 25 | $1.11 | $-1.29 | ||
| Q1 25 | $1.08 | $-0.33 | ||
| Q4 24 | $1.05 | $0.25 | ||
| Q3 24 | $1.15 | $-0.26 | ||
| Q2 24 | $1.16 | $-1.01 | ||
| Q1 24 | $1.01 | $-0.25 |
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 | $582.5M | $186.8M |
| 总债务越低越好 | $744.5M | $1.6B |
| 股东权益账面价值 | $5.4B | $68.1M |
| 总资产 | $6.9B | $2.0B |
| 负债/权益比越低杠杆越低 | 0.14× | 23.58× |
8季度趋势，按日历期对齐
现金及短期投资ACTMERC
| Q4 25 | $582.5M | $186.8M | ||
| Q3 25 | $545.6M | $98.1M | ||
| Q2 25 | $616.0M | $146.5M | ||
| Q1 25 | $639.0M | $181.5M | ||
| Q4 24 | $602.8M | $184.9M | ||
| Q3 24 | $674.9M | $239.0M | ||
| Q2 24 | $711.3M | $263.2M | ||
| Q1 24 | $624.3M | $274.3M |
总债务ACTMERC
| Q4 25 | $744.5M | $1.6B | ||
| Q3 25 | $744.1M | $1.5B | ||
| Q2 25 | $743.8M | $1.5B | ||
| Q1 25 | $743.4M | $1.5B | ||
| Q4 24 | $743.0M | $1.5B | ||
| Q3 24 | $742.7M | $1.6B | ||
| Q2 24 | $742.4M | $1.6B | ||
| Q1 24 | $746.1M | $1.6B |
股东权益ACTMERC
| Q4 25 | $5.4B | $68.1M | ||
| Q3 25 | $5.3B | $359.5M | ||
| Q2 25 | $5.2B | $446.5M | ||
| Q1 25 | $5.1B | $437.4M | ||
| Q4 24 | $5.0B | $429.8M | ||
| Q3 24 | $5.0B | $516.8M | ||
| Q2 24 | $4.8B | $487.7M | ||
| Q1 24 | $4.7B | $573.6M |
总资产ACTMERC
| Q4 25 | $6.9B | $2.0B | ||
| Q3 25 | $6.9B | $2.3B | ||
| Q2 25 | $6.8B | $2.4B | ||
| Q1 25 | $6.7B | $2.3B | ||
| Q4 24 | $6.5B | $2.3B | ||
| Q3 24 | $6.6B | $2.5B | ||
| Q2 24 | $6.3B | $2.5B | ||
| Q1 24 | $6.3B | $2.6B |
负债/权益比ACTMERC
| Q4 25 | 0.14× | 23.58× | ||
| Q3 25 | 0.14× | 4.30× | ||
| Q2 25 | 0.14× | 3.42× | ||
| Q1 25 | 0.15× | 3.44× | ||
| Q4 24 | 0.15× | 3.43× | ||
| Q3 24 | 0.15× | 3.09× | ||
| Q2 24 | 0.15× | 3.22× | ||
| Q1 24 | 0.16× | 2.82× |
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 | $724.5M | $46.2M |
| 自由现金流经营现金流 - 资本支出 | — | $32.0M |
| 自由现金流率自由现金流/营收 | — | 7.1% |
| 资本支出强度资本支出/营收 | — | 3.1% |
| 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 | — | $-80.0M |
8季度趋势，按日历期对齐
经营现金流ACTMERC
| Q4 25 | $724.5M | $46.2M | ||
| Q3 25 | $192.0M | $-30.1M | ||
| Q2 25 | $119.5M | $-4.5M | ||
| Q1 25 | $226.7M | $-3.0M | ||
| Q4 24 | $686.3M | $71.2M | ||
| Q3 24 | $188.1M | $-13.9M | ||
| Q2 24 | $144.7M | $62.2M | ||
| Q1 24 | $187.3M | $-29.2M |
自由现金流ACTMERC
| Q4 25 | — | $32.0M | ||
| Q3 25 | — | $-60.1M | ||
| Q2 25 | — | $-28.9M | ||
| Q1 25 | — | $-23.1M | ||
| Q4 24 | — | $50.4M | ||
| Q3 24 | — | $-41.2M | ||
| Q2 24 | — | $44.3M | ||
| Q1 24 | — | $-47.7M |
自由现金流率ACTMERC
| Q4 25 | — | 7.1% | ||
| Q3 25 | — | -13.1% | ||
| Q2 25 | — | -6.4% | ||
| Q1 25 | — | -4.6% | ||
| Q4 24 | — | 10.3% | ||
| Q3 24 | — | -8.2% | ||
| Q2 24 | — | 8.9% | ||
| Q1 24 | — | -8.6% |
资本支出强度ACTMERC
| Q4 25 | — | 3.1% | ||
| Q3 25 | — | 6.6% | ||
| Q2 25 | — | 5.4% | ||
| Q1 25 | — | 4.0% | ||
| Q4 24 | — | 4.2% | ||
| Q3 24 | — | 5.4% | ||
| Q2 24 | — | 3.6% | ||
| Q1 24 | — | 3.3% |
现金转化率ACTMERC
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 4.26× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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
ACT
暂无分部数据
MERC
| Other | $215.3M | 48% |
| Solid Wood | $110.2M | 25% |
| Lumber | $54.9M | 12% |
| Pallets | $23.7M | 5% |
| Energyandchemicals | $18.7M | 4% |
| Manufactured Products | $14.1M | 3% |
| Biofuels | $10.0M | 2% |
| Wood Residuals | $2.6M | 1% |
