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Salesforce（CRM）与派克汉尼汾（PH）财务数据对比。点击上方公司名可切换其他公司
Salesforce的季度营收约是派克汉尼汾的2.0倍（$10.3B vs $5.2B），派克汉尼汾同比增速更快（9.1% vs 8.6%），Salesforce自由现金流更多（$2.2B vs $768.0M），过去两年Salesforce的营收复合增速更高（5.1% vs 1.0%）
Salesforce是总部位于美国加利福尼亚州旧金山的云软件企业，提供销售管理、客户服务、营销自动化、电子商务、数据分析、人工智能、代理式AI及应用开发等领域的企业级数字化解决方案，助力企业提升运营效率、优化客户关系管理。
派克汉尼汾（常简称为派克）是一家专注于运动与控制技术的美国企业，前身为派克电器公司，总部坐落于俄亥俄州大克利夫兰都市区的梅菲尔德高地，其技术及产品广泛应用于工业制造、航空航天等多个核心领域。
CRM vs PH — 直观对比
营收规模更大
CRM
是对方的2.0倍
$5.2B
营收增速更快
PH
高出0.5%
8.6%
自由现金流更多
CRM
多$1.4B
$768.0M
两年增速更快
CRM
近两年复合增速
1.0%
损益表 — Q3 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $10.3B | $5.2B |
| 净利润 | $2.1B | — |
| 毛利率 | 78.0% | 37.3% |
| 营业利润率 | 21.3% | 22.8% |
| 净利率 | 20.3% | — |
| 营收同比 | 8.6% | 9.1% |
| 净利润同比 | 36.6% | — |
| 每股收益（稀释后） | $2.19 | $6.60 |
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CRMPH
| Q4 25 | $10.3B | $5.2B | ||
| Q3 25 | $10.2B | $5.1B | ||
| Q2 25 | $9.8B | $5.2B | ||
| Q1 25 | $10.0B | $5.0B | ||
| Q4 24 | $9.4B | $4.7B | ||
| Q3 24 | $9.3B | $4.9B | ||
| Q2 24 | $9.1B | $5.2B | ||
| Q1 24 | $9.3B | $5.1B |
净利润CRMPH
| Q4 25 | $2.1B | — | ||
| Q3 25 | $1.9B | — | ||
| Q2 25 | $1.5B | $923.6M | ||
| Q1 25 | $1.7B | $961.2M | ||
| Q4 24 | $1.5B | $948.6M | ||
| Q3 24 | $1.4B | $698.5M | ||
| Q2 24 | $1.5B | $785.1M | ||
| Q1 24 | $1.4B | $726.7M |
毛利率CRMPH
| Q4 25 | 78.0% | 37.3% | ||
| Q3 25 | 78.1% | 37.5% | ||
| Q2 25 | 77.0% | 37.3% | ||
| Q1 25 | 77.8% | 36.9% | ||
| Q4 24 | 77.7% | 36.3% | ||
| Q3 24 | 76.8% | 36.8% | ||
| Q2 24 | 76.3% | 35.9% | ||
| Q1 24 | 76.9% | 35.4% |
营业利润率CRMPH
| Q4 25 | 21.3% | 22.8% | ||
| Q3 25 | 22.8% | 23.3% | ||
| Q2 25 | 19.8% | 22.7% | ||
| Q1 25 | 18.2% | 22.3% | ||
| Q4 24 | 20.0% | 20.9% | ||
| Q3 24 | 19.1% | 21.6% | ||
| Q2 24 | 18.7% | 21.1% | ||
| Q1 24 | 17.5% | 20.4% |
净利率CRMPH
| Q4 25 | 20.3% | — | ||
| Q3 25 | 18.4% | — | ||
| Q2 25 | 15.7% | 17.6% | ||
| Q1 25 | 17.1% | 19.4% | ||
| Q4 24 | 16.2% | 20.0% | ||
| Q3 24 | 15.3% | 14.2% | ||
| Q2 24 | 16.8% | 15.1% | ||
| Q1 24 | 15.6% | 14.3% |
每股收益（稀释后）CRMPH
| Q4 25 | $2.19 | $6.60 | ||
| Q3 25 | $1.96 | $6.29 | ||
| Q2 25 | $1.59 | $7.16 | ||
| Q1 25 | $1.75 | $7.37 | ||
| Q4 24 | $1.58 | $7.25 | ||
| Q3 24 | $1.47 | $5.34 | ||
| Q2 24 | $1.56 | $6.06 | ||
| Q1 24 | $1.47 | $5.56 |
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 | $9.0B | $427.0M |
| 总债务越低越好 | $8.4B | $7.5B |
| 股东权益账面价值 | $60.0B | $14.3B |
| 总资产 | $95.1B | $30.5B |
| 负债/权益比越低杠杆越低 | 0.14× | 0.52× |
8季度趋势，按日历期对齐
现金及短期投资CRMPH
| Q4 25 | $9.0B | $427.0M | ||
| Q3 25 | $10.4B | $473.0M | ||
| Q2 25 | $10.9B | $467.0M | ||
| Q1 25 | $8.8B | $408.7M | ||
| Q4 24 | $8.0B | $395.5M | ||
| Q3 24 | $7.7B | $371.1M | ||
| Q2 24 | $10.0B | $422.0M | ||
| Q1 24 | $8.5B | $415.5M |
总债务CRMPH
| Q4 25 | $8.4B | $7.5B | ||
| Q3 25 | $8.4B | $7.5B | ||
| Q2 25 | $8.4B | $7.5B | ||
| Q1 25 | $8.4B | $7.4B | ||
| Q4 24 | $8.4B | $6.7B | ||
| Q3 24 | $8.4B | $6.7B | ||
| Q2 24 | $9.4B | $7.2B | ||
| Q1 24 | $9.4B | $7.3B |
股东权益CRMPH
| Q4 25 | $60.0B | $14.3B | ||
| Q3 25 | $61.3B | $13.8B | ||
| Q2 25 | $60.7B | $13.7B | ||
| Q1 25 | $61.2B | $13.4B | ||
| Q4 24 | $58.5B | $13.1B | ||
| Q3 24 | $57.6B | $12.9B | ||
| Q2 24 | $59.7B | $12.1B | ||
| Q1 24 | $59.6B | $11.6B |
总资产CRMPH
| Q4 25 | $95.1B | $30.5B | ||
| Q3 25 | $97.6B | $30.7B | ||
| Q2 25 | $98.6B | $29.5B | ||
| Q1 25 | $102.9B | $28.9B | ||
| Q4 24 | $91.4B | $28.3B | ||
| Q3 24 | $92.2B | $29.6B | ||
| Q2 24 | $96.2B | $29.3B | ||
| Q1 24 | $99.8B | $29.6B |
负债/权益比CRMPH
| Q4 25 | 0.14× | 0.52× | ||
| Q3 25 | 0.14× | 0.54× | ||
| Q2 25 | 0.14× | 0.55× | ||
| Q1 25 | 0.14× | 0.55× | ||
| Q4 24 | 0.14× | 0.51× | ||
| Q3 24 | 0.15× | 0.52× | ||
| Q2 24 | 0.16× | 0.59× | ||
| Q1 24 | 0.16× | 0.63× |
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 | $2.3B | $862.0M |
| 自由现金流经营现金流 - 资本支出 | $2.2B | $768.0M |
| 自由现金流率自由现金流/营收 | 21.2% | 14.8% |
| 资本支出强度资本支出/营收 | 1.4% | 1.8% |
| 现金转化率经营现金流/净利润 | 1.11× | — |
| 过去12个月自由现金流最近4个季度 | $12.9B | $3.3B |
8季度趋势，按日历期对齐
经营现金流CRMPH
| Q4 25 | $2.3B | $862.0M | ||
| Q3 25 | $740.0M | $782.0M | ||
| Q2 25 | $6.5B | $1.5B | ||
| Q1 25 | $4.0B | $630.0M | ||
| Q4 24 | $2.0B | $934.8M | ||
| Q3 24 | $892.0M | $744.0M | ||
| Q2 24 | $6.2B | $1.2B | ||
| Q1 24 | $3.4B | $795.1M |
自由现金流CRMPH
| Q4 25 | $2.2B | $768.0M | ||
| Q3 25 | $605.0M | $693.0M | ||
| Q2 25 | $6.3B | $1.3B | ||
| Q1 25 | $3.8B | $542.4M | ||
| Q4 24 | $1.8B | $813.6M | ||
| Q3 24 | $755.0M | $648.7M | ||
| Q2 24 | $6.1B | $1.1B | ||
| Q1 24 | $3.3B | $715.9M |
自由现金流率CRMPH
| Q4 25 | 21.2% | 14.8% | ||
| Q3 25 | 5.9% | 13.6% | ||
| Q2 25 | 64.1% | 25.5% | ||
| Q1 25 | 38.2% | 10.9% | ||
| Q4 24 | 18.8% | 17.2% | ||
| Q3 24 | 8.1% | 13.2% | ||
| Q2 24 | 66.6% | 21.6% | ||
| Q1 24 | 35.1% | 14.1% |
资本支出强度CRMPH
| Q4 25 | 1.4% | 1.8% | ||
| Q3 25 | 1.3% | 1.8% | ||
| Q2 25 | 1.8% | 2.5% | ||
| Q1 25 | 1.5% | 1.8% | ||
| Q4 24 | 2.2% | 2.6% | ||
| Q3 24 | 1.5% | 1.9% | ||
| Q2 24 | 1.8% | 2.3% | ||
| Q1 24 | 1.6% | 1.6% |
现金转化率CRMPH
| Q4 25 | 1.11× | — | ||
| Q3 25 | 0.39× | — | ||
| Q2 25 | 4.20× | 1.59× | ||
| Q1 25 | 2.32× | 0.66× | ||
| Q4 24 | 1.30× | 0.99× | ||
| Q3 24 | 0.62× | 1.07× | ||
| Q2 24 | 4.08× | 1.58× | ||
| Q1 24 | 2.35× | 1.09× |
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
CRM
| Agentforce Service | $2.5B | 24% |
| Agentforce Sales | $2.3B | 22% |
| Agentforce360Platform Slack And Other | $2.2B | 21% |
| Agentforce Integration And Agentforce Analytics | $1.4B | 14% |
| Agentforce Marketing And Agentforce Commerce | $1.4B | 13% |
| Professional Servicesand Other | $533.0M | 5% |
PH
| Filtration And Engineered Materials | $1.5B | 28% |
| Other | $1.1B | 22% |
| Motion Systems | $893.0M | 17% |
| Commercial Aftermarket | $619.0M | 12% |
| Commercial Original Equipment Manufacturer | $561.0M | 11% |
| Defense Original Equipment Manufacturer | $305.0M | 6% |
| Defense Aftermarket | $221.0M | 4% |
