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EPAM Systems（EPAM）与赫兹（HTZ）财务数据对比。点击上方公司名可切换其他公司
赫兹的季度营收约是EPAM Systems的1.4倍（$2.0B vs $1.4B），EPAM Systems净利率更高（7.8% vs -9.6%，领先17.3%），EPAM Systems同比增速更快（12.8% vs -0.6%），过去两年EPAM Systems的营收复合增速更高（9.9% vs -1.3%）
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。
赫兹全球控股是美国知名汽车租赁企业，总部位于佛罗里达州埃斯特罗。公司运营赫兹同名核心品牌，同时拥有Dollar、Firefly、Thrifty等多个汽车租赁子品牌，业务覆盖全球广泛市场，为客户提供多元出行租赁解决方案。
EPAM vs HTZ — 直观对比
营收规模更大
HTZ
是对方的1.4倍
$1.4B
营收增速更快
EPAM
高出13.3%
-0.6%
净利率更高
EPAM
高出17.3%
-9.6%
两年增速更快
EPAM
近两年复合增速
-1.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $2.0B |
| 净利润 | $109.4M | $-194.0M |
| 毛利率 | 30.1% | — |
| 营业利润率 | 10.6% | -11.0% |
| 净利率 | 7.8% | -9.6% |
| 营收同比 | 12.8% | -0.6% |
| 净利润同比 | 5.9% | 59.5% |
| 每股收益（稀释后） | $1.97 | $-0.46 |
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EPAMHTZ
| Q4 25 | $1.4B | $2.0B | ||
| Q3 25 | $1.4B | $2.5B | ||
| Q2 25 | $1.4B | $2.2B | ||
| Q1 25 | $1.3B | $1.8B | ||
| Q4 24 | $1.2B | $2.0B | ||
| Q3 24 | $1.2B | $2.6B | ||
| Q2 24 | $1.1B | $2.4B | ||
| Q1 24 | $1.2B | $2.1B |
净利润EPAMHTZ
| Q4 25 | $109.4M | $-194.0M | ||
| Q3 25 | $106.8M | $184.0M | ||
| Q2 25 | $88.0M | $-294.0M | ||
| Q1 25 | $73.5M | $-443.0M | ||
| Q4 24 | $103.3M | $-479.0M | ||
| Q3 24 | $136.3M | $-1.3B | ||
| Q2 24 | $98.6M | $-865.0M | ||
| Q1 24 | $116.2M | $-186.0M |
毛利率EPAMHTZ
| Q4 25 | 30.1% | — | ||
| Q3 25 | 29.5% | — | ||
| Q2 25 | 28.8% | — | ||
| Q1 25 | 26.9% | — | ||
| Q4 24 | 30.4% | — | ||
| Q3 24 | 34.6% | — | ||
| Q2 24 | 29.3% | — | ||
| Q1 24 | 28.4% | — |
营业利润率EPAMHTZ
| Q4 25 | 10.6% | -11.0% | ||
| Q3 25 | 10.4% | 9.4% | ||
| Q2 25 | 9.3% | -14.5% | ||
| Q1 25 | 7.6% | -29.0% | ||
| Q4 24 | 10.9% | -27.6% | ||
| Q3 24 | 15.2% | -62.9% | ||
| Q2 24 | 10.5% | -20.1% | ||
| Q1 24 | 9.5% | -27.9% |
净利率EPAMHTZ
| Q4 25 | 7.8% | -9.6% | ||
| Q3 25 | 7.7% | 7.4% | ||
| Q2 25 | 6.5% | -13.5% | ||
| Q1 25 | 5.6% | -24.4% | ||
| Q4 24 | 8.3% | -23.5% | ||
| Q3 24 | 11.7% | -51.7% | ||
| Q2 24 | 8.6% | -36.8% | ||
| Q1 24 | 10.0% | -8.9% |
每股收益（稀释后）EPAMHTZ
| Q4 25 | $1.97 | $-0.46 | ||
| Q3 25 | $1.91 | $0.42 | ||
| Q2 25 | $1.56 | $-0.95 | ||
| Q1 25 | $1.28 | $-1.44 | ||
| Q4 24 | $1.80 | $-1.57 | ||
| Q3 24 | $2.37 | $-4.34 | ||
| Q2 24 | $1.70 | $-2.82 | ||
| Q1 24 | $1.97 | $-0.61 |
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 | $565.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $3.7B | $-459.0M |
| 总资产 | $4.9B | $22.3B |
| 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EPAMHTZ
| Q4 25 | $1.3B | $565.0M | ||
| Q3 25 | $1.2B | $1.1B | ||
| Q2 25 | $1.0B | $503.0M | ||
| Q1 25 | $1.2B | $626.0M | ||
| Q4 24 | $1.3B | $592.0M | ||
| Q3 24 | $2.1B | $501.0M | ||
| Q2 24 | $1.8B | $568.0M | ||
| Q1 24 | $2.0B | $465.0M |
股东权益EPAMHTZ
| Q4 25 | $3.7B | $-459.0M | ||
| Q3 25 | $3.7B | $-317.0M | ||
| Q2 25 | $3.7B | $-504.0M | ||
| Q1 25 | $3.6B | $-262.0M | ||
| Q4 24 | $3.6B | $153.0M | ||
| Q3 24 | $3.6B | $681.0M | ||
| Q2 24 | $3.4B | $2.0B | ||
| Q1 24 | $3.5B | $2.8B |
总资产EPAMHTZ
| Q4 25 | $4.9B | $22.3B | ||
| Q3 25 | $4.8B | $23.0B | ||
| Q2 25 | $4.7B | $23.1B | ||
| Q1 25 | $4.7B | $22.0B | ||
| Q4 24 | $4.8B | $21.8B | ||
| Q3 24 | $4.5B | $23.0B | ||
| Q2 24 | $4.2B | $25.2B | ||
| Q1 24 | $4.4B | $24.3B |
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 | $282.9M | $193.0M |
| 自由现金流经营现金流 - 资本支出 | $268.1M | — |
| 自由现金流率自由现金流/营收 | 19.0% | — |
| 资本支出强度资本支出/营收 | 1.1% | — |
| 现金转化率经营现金流/净利润 | 2.59× | — |
| 过去12个月自由现金流最近4个季度 | $612.7M | — |
8季度趋势，按日历期对齐
经营现金流EPAMHTZ
| Q4 25 | $282.9M | $193.0M | ||
| Q3 25 | $294.7M | $835.0M | ||
| Q2 25 | $53.2M | $346.0M | ||
| Q1 25 | $24.2M | $251.0M | ||
| Q4 24 | $130.3M | $414.0M | ||
| Q3 24 | $242.0M | $894.0M | ||
| Q2 24 | $57.0M | $546.0M | ||
| Q1 24 | $129.9M | $370.0M |
自由现金流EPAMHTZ
| Q4 25 | $268.1M | — | ||
| Q3 25 | $286.4M | — | ||
| Q2 25 | $43.4M | — | ||
| Q1 25 | $14.8M | — | ||
| Q4 24 | $114.5M | — | ||
| Q3 24 | $237.0M | — | ||
| Q2 24 | $52.3M | — | ||
| Q1 24 | $123.2M | — |
自由现金流率EPAMHTZ
| Q4 25 | 19.0% | — | ||
| Q3 25 | 20.5% | — | ||
| Q2 25 | 3.2% | — | ||
| Q1 25 | 1.1% | — | ||
| Q4 24 | 9.2% | — | ||
| Q3 24 | 20.3% | — | ||
| Q2 24 | 4.6% | — | ||
| Q1 24 | 10.6% | — |
资本支出强度EPAMHTZ
| Q4 25 | 1.1% | — | ||
| Q3 25 | 0.6% | — | ||
| Q2 25 | 0.7% | — | ||
| Q1 25 | 0.7% | — | ||
| Q4 24 | 1.3% | — | ||
| Q3 24 | 0.4% | — | ||
| Q2 24 | 0.4% | — | ||
| Q1 24 | 0.6% | — |
现金转化率EPAMHTZ
| Q4 25 | 2.59× | — | ||
| Q3 25 | 2.76× | 4.54× | ||
| Q2 25 | 0.60× | — | ||
| Q1 25 | 0.33× | — | ||
| Q4 24 | 1.26× | — | ||
| Q3 24 | 1.77× | — | ||
| Q2 24 | 0.58× | — | ||
| Q1 24 | 1.12× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
