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塞拉尼斯（CE）与EPAM Systems（EPAM）财务数据对比。点击上方公司名可切换其他公司
塞拉尼斯的季度营收约是EPAM Systems的1.6倍（$2.2B vs $1.4B），EPAM Systems净利率更高（7.8% vs 0.6%，领先7.1%），EPAM Systems同比增速更快（12.8% vs -7.0%），EPAM Systems自由现金流更多（$268.1M vs $168.0M），过去两年EPAM Systems的营收复合增速更高（9.9% vs -8.1%）
塞拉尼斯是总部位于美国得克萨斯州欧文市的技术及特种材料企业，位列财富500强。公司是全球醋酸行业领军生产商，年产量约195万吨，占全球总产量的20%左右，同时也是全球最大的醋酸乙烯酯单体（VAM）供应商。
EPAM Systems是总部位于美国宾夕法尼亚州纽敦的企业，核心业务涵盖软件工程服务、数字平台研发、数字产品设计三大板块，同时是MACH联盟的创始成员，在全球数字化服务赛道拥有深厚的技术积累与行业认可度。
CE vs EPAM — 直观对比
营收规模更大
CE
是对方的1.6倍
$1.4B
营收增速更快
EPAM
高出19.8%
-7.0%
净利率更高
EPAM
高出7.1%
0.6%
自由现金流更多
EPAM
多$100.1M
$168.0M
两年增速更快
EPAM
近两年复合增速
-8.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.2B | $1.4B |
| 净利润 | $14.0M | $109.4M |
| 毛利率 | 19.1% | 30.1% |
| 营业利润率 | 4.0% | 10.6% |
| 净利率 | 0.6% | 7.8% |
| 营收同比 | -7.0% | 12.8% |
| 净利润同比 | 100.7% | 5.9% |
| 每股收益（稀释后） | $0.13 | $1.97 |
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CEEPAM
| Q4 25 | $2.2B | $1.4B | ||
| Q3 25 | $2.4B | $1.4B | ||
| Q2 25 | $2.5B | $1.4B | ||
| Q1 25 | $2.4B | $1.3B | ||
| Q4 24 | $2.4B | $1.2B | ||
| Q3 24 | $2.6B | $1.2B | ||
| Q2 24 | $2.7B | $1.1B | ||
| Q1 24 | $2.6B | $1.2B |
净利润CEEPAM
| Q4 25 | $14.0M | $109.4M | ||
| Q3 25 | $-1.4B | $106.8M | ||
| Q2 25 | $199.0M | $88.0M | ||
| Q1 25 | $-21.0M | $73.5M | ||
| Q4 24 | $-1.9B | $103.3M | ||
| Q3 24 | $116.0M | $136.3M | ||
| Q2 24 | $155.0M | $98.6M | ||
| Q1 24 | $121.0M | $116.2M |
毛利率CEEPAM
| Q4 25 | 19.1% | 30.1% | ||
| Q3 25 | 21.5% | 29.5% | ||
| Q2 25 | 21.1% | 28.8% | ||
| Q1 25 | 19.9% | 26.9% | ||
| Q4 24 | 22.7% | 30.4% | ||
| Q3 24 | 23.5% | 34.6% | ||
| Q2 24 | 24.2% | 29.3% | ||
| Q1 24 | 21.2% | 28.4% |
营业利润率CEEPAM
| Q4 25 | 4.0% | 10.6% | ||
| Q3 25 | -52.7% | 10.4% | ||
| Q2 25 | 9.2% | 9.3% | ||
| Q1 25 | 7.0% | 7.6% | ||
| Q4 24 | -59.3% | 10.9% | ||
| Q3 24 | 9.4% | 15.2% | ||
| Q2 24 | 9.4% | 10.5% | ||
| Q1 24 | 8.0% | 9.5% |
净利率CEEPAM
| Q4 25 | 0.6% | 7.8% | ||
| Q3 25 | -56.1% | 7.7% | ||
| Q2 25 | 7.9% | 6.5% | ||
| Q1 25 | -0.9% | 5.6% | ||
| Q4 24 | -80.8% | 8.3% | ||
| Q3 24 | 4.4% | 11.7% | ||
| Q2 24 | 5.8% | 8.6% | ||
| Q1 24 | 4.6% | 10.0% |
每股收益（稀释后）CEEPAM
| Q4 25 | $0.13 | $1.97 | ||
| Q3 25 | $-12.39 | $1.91 | ||
| Q2 25 | $1.81 | $1.56 | ||
| Q1 25 | $-0.19 | $1.28 | ||
| Q4 24 | $-17.50 | $1.80 | ||
| Q3 24 | $1.06 | $2.37 | ||
| Q2 24 | $1.41 | $1.70 | ||
| Q1 24 | $1.10 | $1.97 |
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 | — | $1.3B |
| 总债务越低越好 | $11.4B | — |
| 股东权益账面价值 | $4.0B | $3.7B |
| 总资产 | $21.7B | $4.9B |
| 负债/权益比越低杠杆越低 | 2.81× | — |
8季度趋势，按日历期对齐
现金及短期投资CEEPAM
| Q4 25 | — | $1.3B | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | — | $1.0B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | $2.1B | ||
| Q2 24 | — | $1.8B | ||
| Q1 24 | — | $2.0B |
总债务CEEPAM
| Q4 25 | $11.4B | — | ||
| Q3 25 | $11.7B | — | ||
| Q2 25 | $12.7B | — | ||
| Q1 25 | $12.4B | — | ||
| Q4 24 | $11.1B | — | ||
| Q3 24 | $11.3B | — | ||
| Q2 24 | $11.1B | — | ||
| Q1 24 | $11.0B | — |
股东权益CEEPAM
| Q4 25 | $4.0B | $3.7B | ||
| Q3 25 | $4.0B | $3.7B | ||
| Q2 25 | $5.3B | $3.7B | ||
| Q1 25 | $5.2B | $3.6B | ||
| Q4 24 | $5.2B | $3.6B | ||
| Q3 24 | $7.3B | $3.6B | ||
| Q2 24 | $7.2B | $3.4B | ||
| Q1 24 | $7.1B | $3.5B |
总资产CEEPAM
| Q4 25 | $21.7B | $4.9B | ||
| Q3 25 | $22.2B | $4.8B | ||
| Q2 25 | $23.7B | $4.7B | ||
| Q1 25 | $23.2B | $4.7B | ||
| Q4 24 | $22.9B | $4.8B | ||
| Q3 24 | $25.9B | $4.5B | ||
| Q2 24 | $25.8B | $4.2B | ||
| Q1 24 | $26.0B | $4.4B |
负债/权益比CEEPAM
| Q4 25 | 2.81× | — | ||
| Q3 25 | 2.95× | — | ||
| Q2 25 | 2.41× | — | ||
| Q1 25 | 2.39× | — | ||
| Q4 24 | 2.14× | — | ||
| Q3 24 | 1.56× | — | ||
| Q2 24 | 1.54× | — | ||
| Q1 24 | 1.56× | — |
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 | $252.0M | $282.9M |
| 自由现金流经营现金流 - 资本支出 | $168.0M | $268.1M |
| 自由现金流率自由现金流/营收 | 7.6% | 19.0% |
| 资本支出强度资本支出/营收 | 3.8% | 1.1% |
| 现金转化率经营现金流/净利润 | 18.00× | 2.59× |
| 过去12个月自由现金流最近4个季度 | $803.0M | $612.7M |
8季度趋势，按日历期对齐
经营现金流CEEPAM
| Q4 25 | $252.0M | $282.9M | ||
| Q3 25 | $447.0M | $294.7M | ||
| Q2 25 | $410.0M | $53.2M | ||
| Q1 25 | $37.0M | $24.2M | ||
| Q4 24 | $494.0M | $130.3M | ||
| Q3 24 | $79.0M | $242.0M | ||
| Q2 24 | $292.0M | $57.0M | ||
| Q1 24 | $101.0M | $129.9M |
自由现金流CEEPAM
| Q4 25 | $168.0M | $268.1M | ||
| Q3 25 | $383.0M | $286.4M | ||
| Q2 25 | $317.0M | $43.4M | ||
| Q1 25 | $-65.0M | $14.8M | ||
| Q4 24 | $389.0M | $114.5M | ||
| Q3 24 | $-9.0M | $237.0M | ||
| Q2 24 | $187.0M | $52.3M | ||
| Q1 24 | $-36.0M | $123.2M |
自由现金流率CEEPAM
| Q4 25 | 7.6% | 19.0% | ||
| Q3 25 | 15.8% | 20.5% | ||
| Q2 25 | 12.5% | 3.2% | ||
| Q1 25 | -2.7% | 1.1% | ||
| Q4 24 | 16.4% | 9.2% | ||
| Q3 24 | -0.3% | 20.3% | ||
| Q2 24 | 7.1% | 4.6% | ||
| Q1 24 | -1.4% | 10.6% |
资本支出强度CEEPAM
| Q4 25 | 3.8% | 1.1% | ||
| Q3 25 | 2.6% | 0.6% | ||
| Q2 25 | 3.7% | 0.7% | ||
| Q1 25 | 4.3% | 0.7% | ||
| Q4 24 | 4.4% | 1.3% | ||
| Q3 24 | 3.3% | 0.4% | ||
| Q2 24 | 4.0% | 0.4% | ||
| Q1 24 | 5.2% | 0.6% |
现金转化率CEEPAM
| Q4 25 | 18.00× | 2.59× | ||
| Q3 25 | — | 2.76× | ||
| Q2 25 | 2.06× | 0.60× | ||
| Q1 25 | — | 0.33× | ||
| Q4 24 | — | 1.26× | ||
| Q3 24 | 0.68× | 1.77× | ||
| Q2 24 | 1.88× | 0.58× | ||
| Q1 24 | 0.83× | 1.12× |
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
CE
| Engineered Materials | $1.3B | 58% |
| Acetyl Chain | $940.0M | 43% |
EPAM
暂无分部数据
