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DXP ENTERPRISES INC（DXPE）与VinFast Auto Ltd.（VFS）财务数据对比。点击上方公司名可切换其他公司
VinFast Auto Ltd.的季度营收约是DXP ENTERPRISES INC的1.4倍（$718.6M vs $527.4M），DXP ENTERPRISES INC净利率更高（4.3% vs -2.8%，领先7.1%）
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。
VinFast Auto Ltd.是越南跨国汽车企业，由越南最大私营综合企业集团之一Vingroup创立。Vingroup由越南知名企业家潘日旺创办，业务覆盖地产、零售、医疗、科技等多个领域，是越南本土头部企业集团。
DXPE vs VFS — 直观对比
营收规模更大
VFS
是对方的1.4倍
$527.4M
净利率更高
DXPE
高出7.1%
-2.8%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $527.4M | $718.6M |
| 净利润 | $22.8M | $-20.0M |
| 毛利率 | 31.6% | — |
| 营业利润率 | 8.8% | -96.1% |
| 净利率 | 4.3% | -2.8% |
| 营收同比 | 12.0% | — |
| 净利润同比 | 6.9% | — |
| 每股收益（稀释后） | $1.38 | — |
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DXPEVFS
| Q4 25 | $527.4M | — | ||
| Q3 25 | $513.7M | $718.6M | ||
| Q2 25 | $498.7M | $663.0M | ||
| Q1 25 | $476.6M | $656.5M | ||
| Q4 24 | $470.9M | — | ||
| Q3 24 | $472.9M | $511.6M | ||
| Q2 24 | $445.6M | — | ||
| Q1 24 | $412.6M | $302.6M |
净利润DXPEVFS
| Q4 25 | $22.8M | — | ||
| Q3 25 | $21.6M | $-20.0M | ||
| Q2 25 | $23.6M | $-51.8M | ||
| Q1 25 | $20.6M | $-26.1M | ||
| Q4 24 | $21.4M | — | ||
| Q3 24 | $21.1M | $-10.4M | ||
| Q2 24 | $16.7M | — | ||
| Q1 24 | $11.3M | $-618.3M |
毛利率DXPEVFS
| Q4 25 | 31.6% | — | ||
| Q3 25 | 31.4% | — | ||
| Q2 25 | 31.6% | — | ||
| Q1 25 | 31.5% | — | ||
| Q4 24 | 31.5% | — | ||
| Q3 24 | 30.9% | — | ||
| Q2 24 | 30.9% | — | ||
| Q1 24 | 30.0% | — |
营业利润率DXPEVFS
| Q4 25 | 8.8% | — | ||
| Q3 25 | 8.5% | -96.1% | ||
| Q2 25 | 9.2% | -79.0% | ||
| Q1 25 | 8.5% | -74.0% | ||
| Q4 24 | 8.3% | — | ||
| Q3 24 | 8.4% | -65.9% | ||
| Q2 24 | 8.4% | — | ||
| Q1 24 | 7.1% | -139.4% |
净利率DXPEVFS
| Q4 25 | 4.3% | — | ||
| Q3 25 | 4.2% | -2.8% | ||
| Q2 25 | 4.7% | -7.8% | ||
| Q1 25 | 4.3% | -4.0% | ||
| Q4 24 | 4.5% | — | ||
| Q3 24 | 4.5% | -2.0% | ||
| Q2 24 | 3.7% | — | ||
| Q1 24 | 2.7% | -204.3% |
每股收益（稀释后）DXPEVFS
| Q4 25 | $1.38 | — | ||
| Q3 25 | $1.31 | — | ||
| Q2 25 | $1.43 | — | ||
| Q1 25 | $1.25 | — | ||
| Q4 24 | $1.28 | — | ||
| Q3 24 | $1.27 | — | ||
| Q2 24 | $1.00 | — | ||
| Q1 24 | $0.67 | — |
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 | $8.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $498.4M | — |
| 总资产 | $1.7B | $183.2M |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资DXPEVFS
| Q4 25 | $303.8M | — | ||
| Q3 25 | $123.8M | $8.8M | ||
| Q2 25 | $112.9M | $650.0M | ||
| Q1 25 | $114.3M | $2.4M | ||
| Q4 24 | $148.3M | — | ||
| Q3 24 | $35.0M | $1.9M | ||
| Q2 24 | $49.9M | — | ||
| Q1 24 | $139.7M | $3.0M |
股东权益DXPEVFS
| Q4 25 | $498.4M | — | ||
| Q3 25 | $488.3M | — | ||
| Q2 25 | $468.1M | $-7.2B | ||
| Q1 25 | $444.7M | — | ||
| Q4 24 | $422.8M | — | ||
| Q3 24 | $402.4M | — | ||
| Q2 24 | $384.7M | — | ||
| Q1 24 | $375.5M | — |
总资产DXPEVFS
| Q4 25 | $1.7B | — | ||
| Q3 25 | $1.4B | $183.2M | ||
| Q2 25 | $1.4B | $7.2B | ||
| Q1 25 | $1.4B | $158.2M | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.2B | $151.8M | ||
| Q2 24 | $1.2B | — | ||
| Q1 24 | $1.2B | $145.6M |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $34.5M | — |
| 自由现金流率自由现金流/营收 | 6.5% | — |
| 资本支出强度资本支出/营收 | 0.6% | — |
| 现金转化率经营现金流/净利润 | 1.65× | — |
| 过去12个月自由现金流最近4个季度 | $54.0M | — |
8季度趋势，按日历期对齐
经营现金流DXPEVFS
| Q4 25 | $37.8M | — | ||
| Q3 25 | $34.9M | — | ||
| Q2 25 | $18.6M | — | ||
| Q1 25 | $3.0M | — | ||
| Q4 24 | $32.1M | — | ||
| Q3 24 | $28.3M | — | ||
| Q2 24 | $14.7M | — | ||
| Q1 24 | $27.0M | — |
自由现金流DXPEVFS
| Q4 25 | $34.5M | — | ||
| Q3 25 | $28.1M | — | ||
| Q2 25 | $8.3M | — | ||
| Q1 25 | $-16.9M | — | ||
| Q4 24 | $22.7M | — | ||
| Q3 24 | $24.4M | — | ||
| Q2 24 | $5.9M | — | ||
| Q1 24 | $24.1M | — |
自由现金流率DXPEVFS
| Q4 25 | 6.5% | — | ||
| Q3 25 | 5.5% | — | ||
| Q2 25 | 1.7% | — | ||
| Q1 25 | -3.6% | — | ||
| Q4 24 | 4.8% | — | ||
| Q3 24 | 5.2% | — | ||
| Q2 24 | 1.3% | — | ||
| Q1 24 | 5.8% | — |
资本支出强度DXPEVFS
| Q4 25 | 0.6% | — | ||
| Q3 25 | 1.3% | — | ||
| Q2 25 | 2.1% | — | ||
| Q1 25 | 4.2% | — | ||
| Q4 24 | 2.0% | — | ||
| Q3 24 | 0.8% | — | ||
| Q2 24 | 2.0% | — | ||
| Q1 24 | 0.7% | — |
现金转化率DXPEVFS
| Q4 25 | 1.65× | — | ||
| Q3 25 | 1.61× | — | ||
| Q2 25 | 0.79× | — | ||
| Q1 25 | 0.14× | — | ||
| Q4 24 | 1.50× | — | ||
| Q3 24 | 1.34× | — | ||
| Q2 24 | 0.88× | — | ||
| Q1 24 | 2.38× | — |
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% |
VFS
| Sales of vehicles | $662.9M | 92% |
| Sales of spare parts and components | $41.3M | 6% |
| Revenue from leasing activities | $12.3M | 2% |
| Finance income | $2.4M | 0% |
| Rendering of services | $1.2M | 0% |
