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DXP ENTERPRISES INC（DXPE）与MSA Safety Inc（MSA）财务数据对比。点击上方公司名可切换其他公司
DXP ENTERPRISES INC的季度营收约是MSA Safety Inc的1.0倍（$527.4M vs $510.9M），MSA Safety Inc净利率更高（17.0% vs 4.3%，领先12.7%），DXP ENTERPRISES INC同比增速更快（12.0% vs 2.2%），MSA Safety Inc自由现金流更多（$106.0M vs $34.5M），过去两年DXP ENTERPRISES INC的营收复合增速更高（13.1% vs 11.2%）
DXP Enterprises Inc.是一家领先的工业分销企业，提供维护、维修、运营（MRO）用品、流体处理设备、泵系统及相关技术服务，主要服务制造业、能源、矿业、建筑等领域客户，核心市场覆盖北美地区。
MSA安全是美国专业安全设备生产供应商，面向建筑、军事、消防、化工、油气等存在高危作业场景的多个行业提供安全防护产品及解决方案，总部位于美国匹兹堡近郊的克兰伯里。
DXPE vs MSA — 直观对比
营收规模更大
DXPE
是对方的1.0倍
$510.9M
营收增速更快
DXPE
高出9.7%
2.2%
净利率更高
MSA
高出12.7%
4.3%
自由现金流更多
MSA
多$71.5M
$34.5M
两年增速更快
DXPE
近两年复合增速
11.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $527.4M | $510.9M |
| 净利润 | $22.8M | $86.9M |
| 毛利率 | 31.6% | 46.9% |
| 营业利润率 | 8.8% | 22.3% |
| 净利率 | 4.3% | 17.0% |
| 营收同比 | 12.0% | 2.2% |
| 净利润同比 | 6.9% | -1.2% |
| 每股收益（稀释后） | $1.38 | $2.22 |
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DXPEMSA
| Q4 25 | $527.4M | $510.9M | ||
| Q3 25 | $513.7M | $468.4M | ||
| Q2 25 | $498.7M | $474.1M | ||
| Q1 25 | $476.6M | $421.3M | ||
| Q4 24 | $470.9M | $499.7M | ||
| Q3 24 | $472.9M | $432.7M | ||
| Q2 24 | $445.6M | $462.5M | ||
| Q1 24 | $412.6M | $413.3M |
净利润DXPEMSA
| Q4 25 | $22.8M | $86.9M | ||
| Q3 25 | $21.6M | $69.6M | ||
| Q2 25 | $23.6M | $62.8M | ||
| Q1 25 | $20.6M | $59.6M | ||
| Q4 24 | $21.4M | $87.9M | ||
| Q3 24 | $21.1M | $66.6M | ||
| Q2 24 | $16.7M | $72.2M | ||
| Q1 24 | $11.3M | $58.1M |
毛利率DXPEMSA
| Q4 25 | 31.6% | 46.9% | ||
| Q3 25 | 31.4% | 46.5% | ||
| Q2 25 | 31.6% | 46.6% | ||
| Q1 25 | 31.5% | 45.9% | ||
| Q4 24 | 31.5% | 46.9% | ||
| Q3 24 | 30.9% | 47.9% | ||
| Q2 24 | 30.9% | 48.2% | ||
| Q1 24 | 30.0% | 47.3% |
营业利润率DXPEMSA
| Q4 25 | 8.8% | 22.3% | ||
| Q3 25 | 8.5% | 20.1% | ||
| Q2 25 | 9.2% | 18.1% | ||
| Q1 25 | 8.5% | 18.5% | ||
| Q4 24 | 8.3% | 23.5% | ||
| Q3 24 | 8.4% | 21.1% | ||
| Q2 24 | 8.4% | 21.6% | ||
| Q1 24 | 7.1% | 19.4% |
净利率DXPEMSA
| Q4 25 | 4.3% | 17.0% | ||
| Q3 25 | 4.2% | 14.9% | ||
| Q2 25 | 4.7% | 13.2% | ||
| Q1 25 | 4.3% | 14.1% | ||
| Q4 24 | 4.5% | 17.6% | ||
| Q3 24 | 4.5% | 15.4% | ||
| Q2 24 | 3.7% | 15.6% | ||
| Q1 24 | 2.7% | 14.1% |
每股收益（稀释后）DXPEMSA
| Q4 25 | $1.38 | $2.22 | ||
| Q3 25 | $1.31 | $1.77 | ||
| Q2 25 | $1.43 | $1.59 | ||
| Q1 25 | $1.25 | $1.51 | ||
| Q4 24 | $1.28 | $2.22 | ||
| Q3 24 | $1.27 | $1.69 | ||
| Q2 24 | $1.00 | $1.83 | ||
| Q1 24 | $0.67 | $1.47 |
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 | $303.8M | $165.1M |
| 总债务越低越好 | — | $580.9M |
| 股东权益账面价值 | $498.4M | $1.4B |
| 总资产 | $1.7B | $2.6B |
| 负债/权益比越低杠杆越低 | — | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资DXPEMSA
| Q4 25 | $303.8M | $165.1M | ||
| Q3 25 | $123.8M | $170.0M | ||
| Q2 25 | $112.9M | $147.0M | ||
| Q1 25 | $114.3M | $170.6M | ||
| Q4 24 | $148.3M | $164.6M | ||
| Q3 24 | $35.0M | $154.4M | ||
| Q2 24 | $49.9M | $146.8M | ||
| Q1 24 | $139.7M | $148.3M |
总债务DXPEMSA
| Q4 25 | — | $580.9M | ||
| Q3 25 | — | $628.6M | ||
| Q2 25 | — | $679.3M | ||
| Q1 25 | — | $502.1M | ||
| Q4 24 | — | $508.0M | ||
| Q3 24 | — | $554.7M | ||
| Q2 24 | — | $588.2M | ||
| Q1 24 | — | $596.2M |
股东权益DXPEMSA
| Q4 25 | $498.4M | $1.4B | ||
| Q3 25 | $488.3M | $1.3B | ||
| Q2 25 | $468.1M | $1.3B | ||
| Q1 25 | $444.7M | $1.2B | ||
| Q4 24 | $422.8M | $1.1B | ||
| Q3 24 | $402.4M | $1.1B | ||
| Q2 24 | $384.7M | $1.0B | ||
| Q1 24 | $375.5M | $994.8M |
总资产DXPEMSA
| Q4 25 | $1.7B | $2.6B | ||
| Q3 25 | $1.4B | $2.6B | ||
| Q2 25 | $1.4B | $2.6B | ||
| Q1 25 | $1.4B | $2.2B | ||
| Q4 24 | $1.3B | $2.2B | ||
| Q3 24 | $1.2B | $2.2B | ||
| Q2 24 | $1.2B | $2.2B | ||
| Q1 24 | $1.2B | $2.2B |
负债/权益比DXPEMSA
| Q4 25 | — | 0.42× | ||
| Q3 25 | — | 0.48× | ||
| Q2 25 | — | 0.54× | ||
| Q1 25 | — | 0.42× | ||
| Q4 24 | — | 0.44× | ||
| Q3 24 | — | 0.51× | ||
| Q2 24 | — | 0.57× | ||
| Q1 24 | — | 0.60× |
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 | $37.8M | $122.4M |
| 自由现金流经营现金流 - 资本支出 | $34.5M | $106.0M |
| 自由现金流率自由现金流/营收 | 6.5% | 20.8% |
| 资本支出强度资本支出/营收 | 0.6% | 3.2% |
| 现金转化率经营现金流/净利润 | 1.65× | 1.41× |
| 过去12个月自由现金流最近4个季度 | $54.0M | $295.4M |
8季度趋势，按日历期对齐
经营现金流DXPEMSA
| Q4 25 | $37.8M | $122.4M | ||
| Q3 25 | $34.9M | $112.5M | ||
| Q2 25 | $18.6M | $67.2M | ||
| Q1 25 | $3.0M | $61.8M | ||
| Q4 24 | $32.1M | $107.9M | ||
| Q3 24 | $28.3M | $84.3M | ||
| Q2 24 | $14.7M | $53.3M | ||
| Q1 24 | $27.0M | $50.9M |
自由现金流DXPEMSA
| Q4 25 | $34.5M | $106.0M | ||
| Q3 25 | $28.1M | $100.5M | ||
| Q2 25 | $8.3M | $37.9M | ||
| Q1 25 | $-16.9M | $51.0M | ||
| Q4 24 | $22.7M | $93.5M | ||
| Q3 24 | $24.4M | $70.1M | ||
| Q2 24 | $5.9M | $39.0M | ||
| Q1 24 | $24.1M | $39.7M |
自由现金流率DXPEMSA
| Q4 25 | 6.5% | 20.8% | ||
| Q3 25 | 5.5% | 21.4% | ||
| Q2 25 | 1.7% | 8.0% | ||
| Q1 25 | -3.6% | 12.1% | ||
| Q4 24 | 4.8% | 18.7% | ||
| Q3 24 | 5.2% | 16.2% | ||
| Q2 24 | 1.3% | 8.4% | ||
| Q1 24 | 5.8% | 9.6% |
资本支出强度DXPEMSA
| Q4 25 | 0.6% | 3.2% | ||
| Q3 25 | 1.3% | 2.6% | ||
| Q2 25 | 2.1% | 6.2% | ||
| Q1 25 | 4.2% | 2.6% | ||
| Q4 24 | 2.0% | 2.9% | ||
| Q3 24 | 0.8% | 3.3% | ||
| Q2 24 | 2.0% | 3.1% | ||
| Q1 24 | 0.7% | 2.7% |
现金转化率DXPEMSA
| Q4 25 | 1.65× | 1.41× | ||
| Q3 25 | 1.61× | 1.62× | ||
| Q2 25 | 0.79× | 1.07× | ||
| Q1 25 | 0.14× | 1.04× | ||
| Q4 24 | 1.50× | 1.23× | ||
| Q3 24 | 1.34× | 1.27× | ||
| Q2 24 | 0.88× | 0.74× | ||
| Q1 24 | 2.38× | 0.88× |
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
DXPE
| Service Centers | $356.2M | 68% |
| Innovative Pumping Solutions | $110.0M | 21% |
| Supply Chain Services | $61.2M | 12% |
MSA
| Americas Segment | $335.2M | 66% |
| International Segment | $175.7M | 34% |
