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CBIZ, Inc.（CBZ）与ExlService Holdings, Inc.（EXLS）财务数据对比。点击上方公司名可切换其他公司
CBIZ, Inc.的季度营收约是ExlService Holdings, Inc.的1.0倍（$542.7M vs $542.6M），ExlService Holdings, Inc.净利率更高（11.1% vs -14.6%，领先25.7%），CBIZ, Inc.同比增速更快（17.9% vs 12.7%），CBIZ, Inc.自由现金流更多（$141.7M vs $106.5M），过去两年ExlService Holdings, Inc.的营收复合增速更高（11.5% vs 4.8%）
CBIZ, Inc.是美国知名的金融、保险及咨询服务提供商，总部位于俄亥俄州独立市，为美国规模最大的会计、保险经纪、金融与咨询服务机构之一。集团在全美设有120多个办事处，拥有近7000名员工，1996年起在纽交所上市，1997年起使用股票代码CBZ交易。
ExlService Holdings Inc.是全球知名的分析与数字解决方案服务商，服务覆盖保险、医疗健康、银行金融服务、媒体、零售等多个行业，总部位于纽约，在美国、欧洲、亚洲、拉美、澳大利亚、南非等地拥有超过5.4万名专业从业人员。
CBZ vs EXLS — 直观对比
营收规模更大
CBZ
是对方的1.0倍
$542.6M
营收增速更快
CBZ
高出5.2%
12.7%
净利率更高
EXLS
高出25.7%
-14.6%
自由现金流更多
CBZ
多$35.2M
$106.5M
两年增速更快
EXLS
近两年复合增速
4.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $542.7M | $542.6M |
| 净利润 | $-79.4M | $60.2M |
| 毛利率 | -9.4% | 38.6% |
| 营业利润率 | -15.7% | 14.4% |
| 净利率 | -14.6% | 11.1% |
| 营收同比 | 17.9% | 12.7% |
| 净利润同比 | 12.5% | 18.9% |
| 每股收益（稀释后） | $-1.22 | $0.38 |
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CBZEXLS
| Q4 25 | $542.7M | $542.6M | ||
| Q3 25 | $693.8M | $529.6M | ||
| Q2 25 | $683.5M | $514.5M | ||
| Q1 25 | $838.0M | $501.0M | ||
| Q4 24 | $460.3M | $481.4M | ||
| Q3 24 | $438.9M | $472.1M | ||
| Q2 24 | $420.0M | $448.4M | ||
| Q1 24 | $494.3M | $436.5M |
净利润CBZEXLS
| Q4 25 | $-79.4M | $60.2M | ||
| Q3 25 | $30.1M | $58.2M | ||
| Q2 25 | $41.9M | $66.1M | ||
| Q1 25 | $122.8M | $66.6M | ||
| Q4 24 | $-90.7M | $50.7M | ||
| Q3 24 | $35.1M | $53.0M | ||
| Q2 24 | $19.8M | $45.8M | ||
| Q1 24 | $76.9M | $48.8M |
毛利率CBZEXLS
| Q4 25 | -9.4% | 38.6% | ||
| Q3 25 | 13.0% | 38.5% | ||
| Q2 25 | 12.9% | 37.7% | ||
| Q1 25 | 27.2% | 38.6% | ||
| Q4 24 | -13.4% | 38.1% | ||
| Q3 24 | 16.6% | 37.8% | ||
| Q2 24 | 12.8% | 37.1% | ||
| Q1 24 | 23.8% | 37.4% |
营业利润率CBZEXLS
| Q4 25 | -15.7% | 14.4% | ||
| Q3 25 | 8.5% | 14.4% | ||
| Q2 25 | 8.8% | 15.8% | ||
| Q1 25 | 23.9% | 15.7% | ||
| Q4 24 | -23.2% | 14.8% | ||
| Q3 24 | 11.3% | 14.7% | ||
| Q2 24 | 7.5% | 13.7% | ||
| Q1 24 | 20.0% | 14.1% |
净利率CBZEXLS
| Q4 25 | -14.6% | 11.1% | ||
| Q3 25 | 4.3% | 11.0% | ||
| Q2 25 | 6.1% | 12.8% | ||
| Q1 25 | 14.7% | 13.3% | ||
| Q4 24 | -19.7% | 10.5% | ||
| Q3 24 | 8.0% | 11.2% | ||
| Q2 24 | 4.7% | 10.2% | ||
| Q1 24 | 15.6% | 11.2% |
每股收益（稀释后）CBZEXLS
| Q4 25 | $-1.22 | $0.38 | ||
| Q3 25 | $0.48 | $0.36 | ||
| Q2 25 | $0.66 | $0.40 | ||
| Q1 25 | $1.91 | $0.40 | ||
| Q4 24 | $-1.84 | $0.31 | ||
| Q3 24 | $0.70 | $0.33 | ||
| Q2 24 | $0.39 | $0.28 | ||
| Q1 24 | $1.53 | $0.29 |
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 | $18.3M | $328.4M |
| 总债务越低越好 | — | $298.6M |
| 股东权益账面价值 | $1.8B | $912.7M |
| 总资产 | $4.4B | $1.7B |
| 负债/权益比越低杠杆越低 | — | 0.33× |
8季度趋势，按日历期对齐
现金及短期投资CBZEXLS
| Q4 25 | $18.3M | $328.4M | ||
| Q3 25 | $17.0M | $390.1M | ||
| Q2 25 | $39.8M | $353.3M | ||
| Q1 25 | $8.8M | $331.4M | ||
| Q4 24 | $13.8M | $340.6M | ||
| Q3 24 | $1.1M | $325.8M | ||
| Q2 24 | $1.1M | $276.1M | ||
| Q1 24 | $1.4M | $246.2M |
总债务CBZEXLS
| Q4 25 | — | $298.6M | ||
| Q3 25 | — | $354.8M | ||
| Q2 25 | — | $260.0M | ||
| Q1 25 | — | $307.3M | ||
| Q4 24 | — | $288.5M | ||
| Q3 24 | — | $344.7M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益CBZEXLS
| Q4 25 | $1.8B | $912.7M | ||
| Q3 25 | $1.9B | $952.4M | ||
| Q2 25 | $1.9B | $1.1B | ||
| Q1 25 | $1.9B | $1.0B | ||
| Q4 24 | $1.8B | $929.9M | ||
| Q3 24 | $927.9M | $907.6M | ||
| Q2 24 | $891.4M | $852.6M | ||
| Q1 24 | $867.1M | $803.3M |
总资产CBZEXLS
| Q4 25 | $4.4B | $1.7B | ||
| Q3 25 | $4.5B | $1.7B | ||
| Q2 25 | $4.5B | $1.7B | ||
| Q1 25 | $4.6B | $1.7B | ||
| Q4 24 | $4.5B | $1.6B | ||
| Q3 24 | $2.1B | $1.6B | ||
| Q2 24 | $2.2B | $1.5B | ||
| Q1 24 | $2.2B | $1.4B |
负债/权益比CBZEXLS
| Q4 25 | — | 0.33× | ||
| Q3 25 | — | 0.37× | ||
| Q2 25 | — | 0.25× | ||
| Q1 25 | — | 0.30× | ||
| Q4 24 | — | 0.31× | ||
| Q3 24 | — | 0.38× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $143.6M | $117.4M |
| 自由现金流经营现金流 - 资本支出 | $141.7M | $106.5M |
| 自由现金流率自由现金流/营收 | 26.1% | 19.6% |
| 资本支出强度资本支出/营收 | 0.4% | 2.0% |
| 现金转化率经营现金流/净利润 | — | 1.95× |
| 过去12个月自由现金流最近4个季度 | $175.5M | $298.1M |
8季度趋势，按日历期对齐
经营现金流CBZEXLS
| Q4 25 | $143.6M | $117.4M | ||
| Q3 25 | $24.0M | $120.7M | ||
| Q2 25 | $113.1M | $109.4M | ||
| Q1 25 | $-88.3M | $3.2M | ||
| Q4 24 | $55.5M | $105.3M | ||
| Q3 24 | $43.7M | $110.1M | ||
| Q2 24 | $88.2M | $74.9M | ||
| Q1 24 | $-63.7M | $-21.9M |
自由现金流CBZEXLS
| Q4 25 | $141.7M | $106.5M | ||
| Q3 25 | $22.1M | $106.4M | ||
| Q2 25 | $105.2M | $95.0M | ||
| Q1 25 | $-93.4M | $-9.7M | ||
| Q4 24 | $52.3M | $95.3M | ||
| Q3 24 | $41.1M | $97.3M | ||
| Q2 24 | $86.3M | $62.8M | ||
| Q1 24 | $-68.8M | $-33.1M |
自由现金流率CBZEXLS
| Q4 25 | 26.1% | 19.6% | ||
| Q3 25 | 3.2% | 20.1% | ||
| Q2 25 | 15.4% | 18.5% | ||
| Q1 25 | -11.2% | -1.9% | ||
| Q4 24 | 11.4% | 19.8% | ||
| Q3 24 | 9.4% | 20.6% | ||
| Q2 24 | 20.5% | 14.0% | ||
| Q1 24 | -13.9% | -7.6% |
资本支出强度CBZEXLS
| Q4 25 | 0.4% | 2.0% | ||
| Q3 25 | 0.3% | 2.7% | ||
| Q2 25 | 1.2% | 2.8% | ||
| Q1 25 | 0.6% | 2.6% | ||
| Q4 24 | 0.7% | 2.1% | ||
| Q3 24 | 0.6% | 2.7% | ||
| Q2 24 | 0.4% | 2.7% | ||
| Q1 24 | 1.0% | 2.6% |
现金转化率CBZEXLS
| Q4 25 | — | 1.95× | ||
| Q3 25 | 0.79× | 2.08× | ||
| Q2 25 | 2.70× | 1.66× | ||
| Q1 25 | -0.72× | 0.05× | ||
| Q4 24 | — | 2.08× | ||
| Q3 24 | 1.25× | 2.08× | ||
| Q2 24 | 4.45× | 1.63× | ||
| Q1 24 | -0.83× | -0.45× |
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
CBZ
| Financial Services | $439.5M | 81% |
| Benefits And Insurance Services | $91.3M | 17% |
| National Practices | $11.9M | 2% |
EXLS
| Insurance | $185.8M | 34% |
| Healthcare And Life Sciences | $142.2M | 26% |
| Banking Capital Markets And Diversified Industries | $122.6M | 23% |
| International Growth Markets | $92.0M | 17% |
