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普立万（AVNT）与Paychex（PAYX）财务数据对比。点击上方公司名可切换其他公司
Paychex的季度营收约是普立万的2.0倍（$1.5B vs $760.6M），Paychex净利率更高（26.3% vs 2.2%，领先24.1%），Paychex同比增速更快（17.4% vs 1.9%），Paychex自由现金流更多（$382.8M vs $125.4M），过去两年Paychex的营收复合增速更高（3.8% vs -4.2%）
普立万公司是一家全球性材料解决方案供应商，总部位于美国俄亥俄州埃文湖，全球员工约9000人。主营产品涵盖色母粒、先进复合材料、功能添加剂以及工程材料，为多行业客户提供定制化的材料相关技术支持与解决方案。
Paychex是美国知名人力资源服务提供商，1971年成立，总部位于纽约州罗切斯特，面向中小微企业提供薪资管理、人力资源外包、员工福利外包等服务。目前在美欧地区拥有超100个办事处，服务约80万家薪资客户，位列《财富》500强第681位。
AVNT vs PAYX — 直观对比
营收规模更大
PAYX
是对方的2.0倍
$760.6M
营收增速更快
PAYX
高出15.5%
1.9%
净利率更高
PAYX
高出24.1%
2.2%
自由现金流更多
PAYX
多$257.4M
$125.4M
两年增速更快
PAYX
近两年复合增速
-4.2%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $760.6M | $1.5B |
| 净利润 | $16.9M | $395.4M |
| 毛利率 | 30.2% | 72.6% |
| 营业利润率 | 5.2% | 38.0% |
| 净利率 | 2.2% | 26.3% |
| 营收同比 | 1.9% | 17.4% |
| 净利润同比 | -65.0% | -4.4% |
| 每股收益（稀释后） | $0.18 | $1.10 |
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AVNTPAYX
| Q4 25 | $760.6M | $1.5B | ||
| Q3 25 | $806.5M | $1.5B | ||
| Q2 25 | $866.5M | $1.4B | ||
| Q1 25 | $826.6M | $1.5B | ||
| Q4 24 | $746.5M | $1.3B | ||
| Q3 24 | $815.2M | $1.3B | ||
| Q2 24 | $849.7M | $1.3B | ||
| Q1 24 | $829.0M | $1.4B |
净利润AVNTPAYX
| Q4 25 | $16.9M | $395.4M | ||
| Q3 25 | $32.6M | $383.8M | ||
| Q2 25 | $52.6M | $297.2M | ||
| Q1 25 | $-20.2M | $519.3M | ||
| Q4 24 | $48.3M | $413.4M | ||
| Q3 24 | $38.2M | $427.4M | ||
| Q2 24 | $33.6M | $379.9M | ||
| Q1 24 | $49.4M | $498.6M |
毛利率AVNTPAYX
| Q4 25 | 30.2% | 72.6% | ||
| Q3 25 | 30.4% | 72.3% | ||
| Q2 25 | 32.1% | 71.5% | ||
| Q1 25 | 31.8% | 73.6% | ||
| Q4 24 | 34.8% | 70.4% | ||
| Q3 24 | 32.1% | 70.3% | ||
| Q2 24 | 30.3% | 70.1% | ||
| Q1 24 | 33.6% | 72.8% |
营业利润率AVNTPAYX
| Q4 25 | 5.2% | 38.0% | ||
| Q3 25 | 8.3% | 36.3% | ||
| Q2 25 | 11.1% | 31.2% | ||
| Q1 25 | 0.1% | 47.2% | ||
| Q4 24 | 11.5% | 42.0% | ||
| Q3 24 | 9.5% | 42.7% | ||
| Q2 24 | 8.5% | 38.3% | ||
| Q1 24 | 11.3% | 46.6% |
净利率AVNTPAYX
| Q4 25 | 2.2% | 26.3% | ||
| Q3 25 | 4.0% | 25.7% | ||
| Q2 25 | 6.1% | 21.5% | ||
| Q1 25 | -2.4% | 35.4% | ||
| Q4 24 | 6.5% | 32.3% | ||
| Q3 24 | 4.7% | 33.4% | ||
| Q2 24 | 4.0% | 30.2% | ||
| Q1 24 | 6.0% | 35.7% |
每股收益（稀释后）AVNTPAYX
| Q4 25 | $0.18 | $1.10 | ||
| Q3 25 | $0.36 | $1.06 | ||
| Q2 25 | $0.57 | $0.83 | ||
| Q1 25 | $-0.22 | $1.43 | ||
| Q4 24 | $0.53 | $1.14 | ||
| Q3 24 | $0.41 | $1.18 | ||
| Q2 24 | $0.36 | $1.05 | ||
| Q1 24 | $0.54 | $1.38 |
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 | — | $1.5B |
| 总债务越低越好 | $1.9B | $5.0B |
| 股东权益账面价值 | $2.4B | $3.9B |
| 总资产 | $6.0B | $16.5B |
| 负债/权益比越低杠杆越低 | 0.81× | 1.28× |
8季度趋势，按日历期对齐
现金及短期投资AVNTPAYX
| Q4 25 | — | $1.5B | ||
| Q3 25 | — | $1.7B | ||
| Q2 25 | — | $1.7B | ||
| Q1 25 | — | $1.6B | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | $1.5B | ||
| Q2 24 | — | $1.5B | ||
| Q1 24 | — | $1.7B |
总债务AVNTPAYX
| Q4 25 | $1.9B | $5.0B | ||
| Q3 25 | $2.0B | $5.0B | ||
| Q2 25 | $2.0B | $4.9B | ||
| Q1 25 | $2.1B | — | ||
| Q4 24 | $2.1B | — | ||
| Q3 24 | $2.1B | — | ||
| Q2 24 | $2.1B | $798.6M | ||
| Q1 24 | $2.1B | — |
股东权益AVNTPAYX
| Q4 25 | $2.4B | $3.9B | ||
| Q3 25 | $2.4B | $4.0B | ||
| Q2 25 | $2.4B | $4.1B | ||
| Q1 25 | $2.3B | $4.1B | ||
| Q4 24 | $2.3B | $3.9B | ||
| Q3 24 | $2.4B | $3.9B | ||
| Q2 24 | $2.3B | $3.8B | ||
| Q1 24 | $2.3B | $3.7B |
总资产AVNTPAYX
| Q4 25 | $6.0B | $16.5B | ||
| Q3 25 | $6.1B | $16.7B | ||
| Q2 25 | $6.1B | $16.6B | ||
| Q1 25 | $5.8B | $11.2B | ||
| Q4 24 | $5.8B | $10.6B | ||
| Q3 24 | $6.0B | $10.5B | ||
| Q2 24 | $5.9B | $10.4B | ||
| Q1 24 | $5.9B | $13.0B |
负债/权益比AVNTPAYX
| Q4 25 | 0.81× | 1.28× | ||
| Q3 25 | 0.83× | 1.25× | ||
| Q2 25 | 0.86× | 1.20× | ||
| Q1 25 | 0.90× | — | ||
| Q4 24 | 0.89× | — | ||
| Q3 24 | 0.88× | — | ||
| Q2 24 | 0.90× | 0.21× | ||
| Q1 24 | 0.90× | — |
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 | $167.8M | $444.9M |
| 自由现金流经营现金流 - 资本支出 | $125.4M | $382.8M |
| 自由现金流率自由现金流/营收 | 16.5% | 25.5% |
| 资本支出强度资本支出/营收 | 5.6% | 4.1% |
| 现金转化率经营现金流/净利润 | 9.93× | 1.13× |
| 过去12个月自由现金流最近4个季度 | $195.0M | $2.0B |
8季度趋势，按日历期对齐
经营现金流AVNTPAYX
| Q4 25 | $167.8M | $444.9M | ||
| Q3 25 | $72.1M | $718.4M | ||
| Q2 25 | $112.8M | $343.8M | ||
| Q1 25 | $-51.1M | $716.0M | ||
| Q4 24 | $122.6M | $295.0M | ||
| Q3 24 | $71.1M | $546.1M | ||
| Q2 24 | $105.9M | $221.7M | ||
| Q1 24 | $-42.8M | $671.7M |
自由现金流AVNTPAYX
| Q4 25 | $125.4M | $382.8M | ||
| Q3 25 | $47.4M | $662.5M | ||
| Q2 25 | $85.8M | $283.3M | ||
| Q1 25 | $-63.6M | $667.3M | ||
| Q4 24 | $81.5M | $248.0M | ||
| Q3 24 | $46.1M | $510.5M | ||
| Q2 24 | $74.5M | $180.4M | ||
| Q1 24 | $-67.2M | $631.0M |
自由现金流率AVNTPAYX
| Q4 25 | 16.5% | 25.5% | ||
| Q3 25 | 5.9% | 44.4% | ||
| Q2 25 | 9.9% | 20.5% | ||
| Q1 25 | -7.7% | 45.5% | ||
| Q4 24 | 10.9% | 19.4% | ||
| Q3 24 | 5.7% | 39.9% | ||
| Q2 24 | 8.8% | 14.4% | ||
| Q1 24 | -8.1% | 45.2% |
资本支出强度AVNTPAYX
| Q4 25 | 5.6% | 4.1% | ||
| Q3 25 | 3.1% | 3.7% | ||
| Q2 25 | 3.1% | 4.4% | ||
| Q1 25 | 1.5% | 3.3% | ||
| Q4 24 | 5.5% | 3.7% | ||
| Q3 24 | 3.1% | 2.8% | ||
| Q2 24 | 3.7% | 3.3% | ||
| Q1 24 | 2.9% | 2.9% |
现金转化率AVNTPAYX
| Q4 25 | 9.93× | 1.13× | ||
| Q3 25 | 2.21× | 1.87× | ||
| Q2 25 | 2.14× | 1.16× | ||
| Q1 25 | — | 1.38× | ||
| Q4 24 | 2.54× | 0.71× | ||
| Q3 24 | 1.86× | 1.28× | ||
| Q2 24 | 3.15× | 0.58× | ||
| Q1 24 | -0.87× | 1.35× |
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
AVNT
| Color Additives And Inks | $466.0M | 61% |
| Specialty Engineered Materials | $295.5M | 39% |
PAYX
| Management Solutions | $1.2B | 78% |
| Peo And Insurance Solutions | $336.9M | 22% |
