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安朗杰（ALLE）与明晟（MSCI）财务数据对比。点击上方公司名可切换其他公司
安朗杰的季度营收约是明晟的1.3倍（$1.0B vs $822.5M），明晟净利率更高（34.6% vs 13.4%，领先21.2%），明晟同比增速更快（10.6% vs 9.7%），过去两年明晟的营收复合增速更高（10.0% vs 3.5%）
安朗杰是全球知名的安防产品及解决方案供应商，面向全球生产销售机械与电子类安防产品，包括闭门器、出入口控制设备、锁具、电子门禁系统、考勤与人员效能管理系统、门体系统及相关配件，服务商业、公共机构、住宅等多领域终端用户
MSCI（明晟）是总部位于美国纽约的金融服务企业，为全球市场提供股票、固定收益、房地产指数、多资产组合分析工具及ESG、气候金融相关产品，旗下运营MSCI全球指数、MSCI新兴市场指数、MSCI全球所有国家（ACWI）指数等多款知名指数产品。
ALLE vs MSCI — 直观对比
营收规模更大
ALLE
是对方的1.3倍
$822.5M
营收增速更快
MSCI
高出0.9%
9.7%
净利率更高
MSCI
高出21.2%
13.4%
两年增速更快
MSCI
近两年复合增速
3.5%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $822.5M |
| 净利润 | $138.1M | $284.7M |
| 毛利率 | 44.0% | — |
| 营业利润率 | 18.9% | 56.4% |
| 净利率 | 13.4% | 34.6% |
| 营收同比 | 9.7% | 10.6% |
| 净利润同比 | -6.8% | -6.8% |
| 每股收益（稀释后） | — | $3.81 |
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
营收ALLEMSCI
| Q1 26 | $1.0B | — | ||
| Q4 25 | $1.0B | $822.5M | ||
| Q3 25 | $1.1B | $793.4M | ||
| Q2 25 | $1.0B | $772.7M | ||
| Q1 25 | $941.9M | $745.8M | ||
| Q4 24 | $945.6M | $743.5M | ||
| Q3 24 | $967.1M | $724.7M | ||
| Q2 24 | $965.6M | $707.9M |
净利润ALLEMSCI
| Q1 26 | $138.1M | — | ||
| Q4 25 | $147.5M | $284.7M | ||
| Q3 25 | $188.4M | $325.4M | ||
| Q2 25 | $159.7M | $303.6M | ||
| Q1 25 | $148.2M | $288.6M | ||
| Q4 24 | $144.1M | $305.5M | ||
| Q3 24 | $174.2M | $280.9M | ||
| Q2 24 | $155.4M | $266.8M |
毛利率ALLEMSCI
| Q1 26 | 44.0% | — | ||
| Q4 25 | 44.5% | — | ||
| Q3 25 | 45.8% | — | ||
| Q2 25 | 45.6% | — | ||
| Q1 25 | 44.9% | — | ||
| Q4 24 | 44.1% | — | ||
| Q3 24 | 44.7% | — | ||
| Q2 24 | 44.4% | — |
营业利润率ALLEMSCI
| Q1 26 | 18.9% | — | ||
| Q4 25 | 20.3% | 56.4% | ||
| Q3 25 | 21.8% | 56.4% | ||
| Q2 25 | 21.5% | 55.0% | ||
| Q1 25 | 20.9% | 50.6% | ||
| Q4 24 | 19.5% | 54.5% | ||
| Q3 24 | 22.2% | 55.4% | ||
| Q2 24 | 21.6% | 54.0% |
净利率ALLEMSCI
| Q1 26 | 13.4% | — | ||
| Q4 25 | 14.3% | 34.6% | ||
| Q3 25 | 17.6% | 41.0% | ||
| Q2 25 | 15.6% | 39.3% | ||
| Q1 25 | 15.7% | 38.7% | ||
| Q4 24 | 15.2% | 41.1% | ||
| Q3 24 | 18.0% | 38.8% | ||
| Q2 24 | 16.1% | 37.7% |
每股收益（稀释后）ALLEMSCI
| Q1 26 | — | — | ||
| Q4 25 | $1.70 | $3.81 | ||
| Q3 25 | $2.18 | $4.25 | ||
| Q2 25 | $1.85 | $3.92 | ||
| Q1 25 | $1.71 | $3.71 | ||
| Q4 24 | $1.65 | $3.89 | ||
| Q3 24 | $1.99 | $3.57 | ||
| Q2 24 | $1.77 | $3.37 |
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 | $308.9M | $515.3M |
| 总债务越低越好 | $2.0B | $6.2B |
| 股东权益账面价值 | $2.1B | $-2.7B |
| 总资产 | $5.3B | $5.7B |
| 负债/权益比越低杠杆越低 | 0.97× | — |
8季度趋势，按日历期对齐
现金及短期投资ALLEMSCI
| Q1 26 | $308.9M | — | ||
| Q4 25 | $356.2M | $515.3M | ||
| Q3 25 | $302.7M | $400.1M | ||
| Q2 25 | $656.8M | $347.3M | ||
| Q1 25 | $494.5M | $360.7M | ||
| Q4 24 | $503.8M | $409.4M | ||
| Q3 24 | $878.9M | $501.0M | ||
| Q2 24 | $747.5M | $451.4M |
总债务ALLEMSCI
| Q1 26 | $2.0B | — | ||
| Q4 25 | $2.0B | $6.2B | ||
| Q3 25 | $2.1B | $5.5B | ||
| Q2 25 | $2.1B | $4.5B | ||
| Q1 25 | $2.0B | $4.5B | ||
| Q4 24 | $2.0B | $4.5B | ||
| Q3 24 | $2.4B | $4.5B | ||
| Q2 24 | $2.4B | $4.5B |
股东权益ALLEMSCI
| Q1 26 | $2.1B | — | ||
| Q4 25 | $2.1B | $-2.7B | ||
| Q3 25 | $1.9B | $-1.9B | ||
| Q2 25 | $1.8B | $-886.2M | ||
| Q1 25 | $1.6B | $-958.6M | ||
| Q4 24 | $1.5B | $-940.0M | ||
| Q3 24 | $1.6B | $-751.0M | ||
| Q2 24 | $1.4B | $-734.5M |
总资产ALLEMSCI
| Q1 26 | $5.3B | — | ||
| Q4 25 | $5.2B | $5.7B | ||
| Q3 25 | $5.2B | $5.4B | ||
| Q2 25 | $4.9B | $5.4B | ||
| Q1 25 | $4.6B | $5.3B | ||
| Q4 24 | $4.5B | $5.4B | ||
| Q3 24 | $5.0B | $5.4B | ||
| Q2 24 | $4.8B | $5.5B |
负债/权益比ALLEMSCI
| Q1 26 | 0.97× | — | ||
| Q4 25 | 0.96× | — | ||
| Q3 25 | 1.07× | — | ||
| Q2 25 | 1.16× | — | ||
| Q1 25 | 1.24× | — | ||
| Q4 24 | 1.33× | — | ||
| Q3 24 | 1.53× | — | ||
| Q2 24 | 1.69× | — |
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 | $101.3M | $501.1M |
| 自由现金流经营现金流 - 资本支出 | — | $488.7M |
| 自由现金流率自由现金流/营收 | — | 59.4% |
| 资本支出强度资本支出/营收 | 2.0% | 1.5% |
| 现金转化率经营现金流/净利润 | 0.73× | 1.76× |
| 过去12个月自由现金流最近4个季度 | — | $1.5B |
8季度趋势，按日历期对齐
经营现金流ALLEMSCI
| Q1 26 | $101.3M | — | ||
| Q4 25 | $240.1M | $501.1M | ||
| Q3 25 | $229.5M | $449.4M | ||
| Q2 25 | $209.7M | $336.1M | ||
| Q1 25 | $104.5M | $301.7M | ||
| Q4 24 | $219.0M | $430.6M | ||
| Q3 24 | $231.9M | $421.6M | ||
| Q2 24 | $173.0M | $349.2M |
自由现金流ALLEMSCI
| Q1 26 | — | — | ||
| Q4 25 | $200.5M | $488.7M | ||
| Q3 25 | $209.8M | $445.5M | ||
| Q2 25 | $192.0M | $324.7M | ||
| Q1 25 | $83.4M | $290.2M | ||
| Q4 24 | $194.9M | $416.4M | ||
| Q3 24 | $212.0M | $415.0M | ||
| Q2 24 | $152.1M | $340.6M |
自由现金流率ALLEMSCI
| Q1 26 | — | — | ||
| Q4 25 | 19.4% | 59.4% | ||
| Q3 25 | 19.6% | 56.2% | ||
| Q2 25 | 18.8% | 42.0% | ||
| Q1 25 | 8.9% | 38.9% | ||
| Q4 24 | 20.6% | 56.0% | ||
| Q3 24 | 21.9% | 57.3% | ||
| Q2 24 | 15.8% | 48.1% |
资本支出强度ALLEMSCI
| Q1 26 | 2.0% | — | ||
| Q4 25 | 3.8% | 1.5% | ||
| Q3 25 | 1.8% | 0.5% | ||
| Q2 25 | 1.7% | 1.5% | ||
| Q1 25 | 2.2% | 1.5% | ||
| Q4 24 | 2.5% | 1.9% | ||
| Q3 24 | 2.1% | 0.9% | ||
| Q2 24 | 2.2% | 1.2% |
现金转化率ALLEMSCI
| Q1 26 | 0.73× | — | ||
| Q4 25 | 1.63× | 1.76× | ||
| Q3 25 | 1.22× | 1.38× | ||
| Q2 25 | 1.31× | 1.11× | ||
| Q1 25 | 0.71× | 1.05× | ||
| Q4 24 | 1.52× | 1.41× | ||
| Q3 24 | 1.33× | 1.50× | ||
| Q2 24 | 1.11× | 1.31× |
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
ALLE
| Allegion Americas | $809.9M | 78% |
| Allegion International | $223.7M | 22% |
MSCI
| Recurring Subscriptions | $246.4M | 30% |
| Asset Based Fees | $211.7M | 26% |
| Analytics Segment | $182.3M | 22% |
| Sustainability And Climate Segment | $90.3M | 11% |
| Other | $70.9M | 9% |
| Non Recurring | $21.1M | 3% |
