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Broadridge Financial Solutions（BR）与Paychex（PAYX）财务数据对比。点击上方公司名可切换其他公司
Broadridge Financial Solutions的季度营收约是Paychex的1.1倍（$1.7B vs $1.5B），Paychex净利率更高（26.3% vs 16.6%，领先9.7%），Paychex同比增速更快（17.4% vs -5.4%），过去两年Broadridge Financial Solutions的营收复合增速更高（10.4% vs 3.8%）
Broadridge Financial Solutions是2007年从自动数据处理公司（ADP）分拆成立的上市企业服务及金融科技企业，总部位于纽约莱克萨克塞斯，为金融行业客户提供股东委托书、年报等金融单证服务，以及线上年会等股东沟通解决方案。
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。
BR vs PAYX — 直观对比
营收规模更大
BR
是对方的1.1倍
$1.5B
营收增速更快
PAYX
高出22.8%
-5.4%
净利率更高
PAYX
高出9.7%
16.6%
两年增速更快
BR
近两年复合增速
3.8%
损益表 — Q2 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $1.5B |
| 净利润 | $284.6M | $395.4M |
| 毛利率 | 27.6% | 72.6% |
| 营业利润率 | 12.0% | 38.0% |
| 净利率 | 16.6% | 26.3% |
| 营收同比 | -5.4% | 17.4% |
| 净利润同比 | 17.1% | -4.4% |
| 每股收益（稀释后） | $2.42 | $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BRPAYX
| Q4 25 | $1.7B | $1.5B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | $2.1B | $1.4B | ||
| Q1 25 | $1.8B | $1.5B | ||
| Q4 24 | $1.6B | $1.3B | ||
| Q3 24 | $1.4B | $1.3B | ||
| Q2 24 | $1.9B | $1.3B | ||
| Q1 24 | $1.7B | $1.4B |
净利润BRPAYX
| Q4 25 | $284.6M | $395.4M | ||
| Q3 25 | — | $383.8M | ||
| Q2 25 | $374.2M | $297.2M | ||
| Q1 25 | $243.1M | $519.3M | ||
| Q4 24 | $142.4M | $413.4M | ||
| Q3 24 | $79.8M | $427.4M | ||
| Q2 24 | $323.2M | $379.9M | ||
| Q1 24 | $213.7M | $498.6M |
毛利率BRPAYX
| Q4 25 | 27.6% | 72.6% | ||
| Q3 25 | — | 72.3% | ||
| Q2 25 | 37.3% | 71.5% | ||
| Q1 25 | 31.8% | 73.6% | ||
| Q4 24 | 27.9% | 70.4% | ||
| Q3 24 | 24.5% | 70.3% | ||
| Q2 24 | 35.5% | 70.1% | ||
| Q1 24 | 31.2% | 72.8% |
营业利润率BRPAYX
| Q4 25 | 12.0% | 38.0% | ||
| Q3 25 | — | 36.3% | ||
| Q2 25 | 24.1% | 31.2% | ||
| Q1 25 | 19.0% | 47.2% | ||
| Q4 24 | 13.3% | 42.0% | ||
| Q3 24 | 9.4% | 42.7% | ||
| Q2 24 | 22.7% | 38.3% | ||
| Q1 24 | 17.5% | 46.6% |
净利率BRPAYX
| Q4 25 | 16.6% | 26.3% | ||
| Q3 25 | — | 25.7% | ||
| Q2 25 | 18.1% | 21.5% | ||
| Q1 25 | 13.4% | 35.4% | ||
| Q4 24 | 9.0% | 32.3% | ||
| Q3 24 | 5.6% | 33.4% | ||
| Q2 24 | 16.6% | 30.2% | ||
| Q1 24 | 12.4% | 35.7% |
每股收益（稀释后）BRPAYX
| Q4 25 | $2.42 | $1.10 | ||
| Q3 25 | — | $1.06 | ||
| Q2 25 | $3.17 | $0.83 | ||
| Q1 25 | $2.05 | $1.43 | ||
| Q4 24 | $1.20 | $1.14 | ||
| Q3 24 | $0.68 | $1.18 | ||
| Q2 24 | $2.72 | $1.05 | ||
| Q1 24 | $1.79 | $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 | $371.5M | $1.5B |
| 总债务越低越好 | $3.2B | $5.0B |
| 股东权益账面价值 | $2.9B | $3.9B |
| 总资产 | $8.6B | $16.5B |
| 负债/权益比越低杠杆越低 | 1.10× | 1.28× |
8季度趋势，按日历期对齐
现金及短期投资BRPAYX
| Q4 25 | $371.5M | $1.5B | ||
| Q3 25 | — | $1.7B | ||
| Q2 25 | $562.2M | $1.7B | ||
| Q1 25 | $317.9M | $1.6B | ||
| Q4 24 | $290.6M | $1.2B | ||
| Q3 24 | $293.5M | $1.5B | ||
| Q2 24 | $305.2M | $1.5B | ||
| Q1 24 | $236.4M | $1.7B |
总债务BRPAYX
| Q4 25 | $3.2B | $5.0B | ||
| Q3 25 | — | $5.0B | ||
| Q2 25 | $3.3B | $4.9B | ||
| Q1 25 | $3.4B | — | ||
| Q4 24 | $3.7B | — | ||
| Q3 24 | $3.6B | — | ||
| Q2 24 | $3.4B | $798.6M | ||
| Q1 24 | $3.5B | — |
股东权益BRPAYX
| Q4 25 | $2.9B | $3.9B | ||
| Q3 25 | — | $4.0B | ||
| Q2 25 | $2.7B | $4.1B | ||
| Q1 25 | $2.4B | $4.1B | ||
| Q4 24 | $2.2B | $3.9B | ||
| Q3 24 | $2.2B | $3.9B | ||
| Q2 24 | $2.2B | $3.8B | ||
| Q1 24 | $2.3B | $3.7B |
总资产BRPAYX
| Q4 25 | $8.6B | $16.5B | ||
| Q3 25 | — | $16.7B | ||
| Q2 25 | $8.5B | $16.6B | ||
| Q1 25 | $8.3B | $11.2B | ||
| Q4 24 | $8.2B | $10.6B | ||
| Q3 24 | $8.0B | $10.5B | ||
| Q2 24 | $8.2B | $10.4B | ||
| Q1 24 | $8.2B | $13.0B |
负债/权益比BRPAYX
| Q4 25 | 1.10× | 1.28× | ||
| Q3 25 | — | 1.25× | ||
| Q2 25 | 1.22× | 1.20× | ||
| Q1 25 | 1.44× | — | ||
| Q4 24 | 1.64× | — | ||
| Q3 24 | 1.63× | — | ||
| Q2 24 | 1.55× | 0.21× | ||
| Q1 24 | 1.55× | — |
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 | — | $444.9M |
| 自由现金流经营现金流 - 资本支出 | — | $382.8M |
| 自由现金流率自由现金流/营收 | — | 25.5% |
| 资本支出强度资本支出/营收 | — | 4.1% |
| 现金转化率经营现金流/净利润 | — | 1.13× |
| 过去12个月自由现金流最近4个季度 | — | $2.0B |
8季度趋势，按日历期对齐
经营现金流BRPAYX
| Q4 25 | — | $444.9M | ||
| Q3 25 | — | $718.4M | ||
| Q2 25 | $699.7M | $343.8M | ||
| Q1 25 | $360.4M | $716.0M | ||
| Q4 24 | $236.7M | $295.0M | ||
| Q3 24 | $-125.5M | $546.1M | ||
| Q2 24 | $721.0M | $221.7M | ||
| Q1 24 | $207.4M | $671.7M |
自由现金流BRPAYX
| Q4 25 | — | $382.8M | ||
| Q3 25 | — | $662.5M | ||
| Q2 25 | $684.1M | $283.3M | ||
| Q1 25 | $348.9M | $667.3M | ||
| Q4 24 | $227.9M | $248.0M | ||
| Q3 24 | $-133.4M | $510.5M | ||
| Q2 24 | $703.2M | $180.4M | ||
| Q1 24 | $184.6M | $631.0M |
自由现金流率BRPAYX
| Q4 25 | — | 25.5% | ||
| Q3 25 | — | 44.4% | ||
| Q2 25 | 33.1% | 20.5% | ||
| Q1 25 | 19.3% | 45.5% | ||
| Q4 24 | 14.3% | 19.4% | ||
| Q3 24 | -9.4% | 39.9% | ||
| Q2 24 | 36.2% | 14.4% | ||
| Q1 24 | 10.7% | 45.2% |
资本支出强度BRPAYX
| Q4 25 | — | 4.1% | ||
| Q3 25 | — | 3.7% | ||
| Q2 25 | 0.8% | 4.4% | ||
| Q1 25 | 0.6% | 3.3% | ||
| Q4 24 | 0.6% | 3.7% | ||
| Q3 24 | 0.6% | 2.8% | ||
| Q2 24 | 0.9% | 3.3% | ||
| Q1 24 | 1.3% | 2.9% |
现金转化率BRPAYX
| Q4 25 | — | 1.13× | ||
| Q3 25 | — | 1.87× | ||
| Q2 25 | 1.87× | 1.16× | ||
| Q1 25 | 1.48× | 1.38× | ||
| Q4 24 | 1.66× | 0.71× | ||
| Q3 24 | -1.57× | 1.28× | ||
| Q2 24 | 2.23× | 0.58× | ||
| Q1 24 | 0.97× | 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
BR
| Recurring Fee Revenue Investor Communication Solutions | $589.5M | 34% |
| Recurring Fee Revenue Capital Markets | $300.9M | 18% |
| Recurring Fee Revenue Regulatory | $248.7M | 15% |
| Recurring Fee Revenue Customer Communications | $189.2M | 11% |
| Recurring Fee Revenue Wealth And Investment Management | $179.7M | 10% |
| Recurring Fee Revenue Data Driven Fund Solutions | $112.7M | 7% |
| Event Driven Revenue Mutual Funds | $51.4M | 3% |
| Event Driven Revenue Equity And Other | $39.2M | 2% |
| Global Technology And Operations | $7.5M | 0% |
PAYX
| Management Solutions | $1.2B | 78% |
| Peo And Insurance Solutions | $336.9M | 22% |
