vs
EPAM Systems（EPAM）与雷诺士国际（LII）财务数据对比。点击上方公司名可切换其他公司
EPAM Systems的季度营收约是雷诺士国际的1.2倍（$1.4B vs $1.2B），雷诺士国际净利率更高（13.6% vs 7.8%，领先5.8%），EPAM Systems同比增速更快（12.8% vs -11.2%），雷诺士国际自由现金流更多（$376.7M vs $268.1M），过去两年EPAM Systems的营收复合增速更高（9.9% vs 6.8%）
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。
雷诺士国际是美国知名的暖通空调（HVAC）及制冷领域气候控制产品供应商，总部位于得克萨斯州理查森。公司在墨西哥萨尔蒂约、美国爱荷华州马歇尔敦、南卡罗来纳州奥兰治堡设有核心生产基地，1904年收购公司的诺里斯家族后裔约翰·W·诺里斯三世持有其9.8%的股份。
EPAM vs LII — 直观对比
营收规模更大
EPAM
是对方的1.2倍
$1.2B
营收增速更快
EPAM
高出23.9%
-11.2%
净利率更高
LII
高出5.8%
7.8%
自由现金流更多
LII
多$108.6M
$268.1M
两年增速更快
EPAM
近两年复合增速
6.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.2B |
| 净利润 | $109.4M | $162.1M |
| 毛利率 | 30.1% | 34.7% |
| 营业利润率 | 10.6% | 18.6% |
| 净利率 | 7.8% | 13.6% |
| 营收同比 | 12.8% | -11.2% |
| 净利润同比 | 5.9% | -18.0% |
| 每股收益（稀释后） | $1.97 | $4.62 |
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EPAMLII
| Q4 25 | $1.4B | $1.2B | ||
| Q3 25 | $1.4B | $1.4B | ||
| Q2 25 | $1.4B | $1.5B | ||
| Q1 25 | $1.3B | $1.1B | ||
| Q4 24 | $1.2B | $1.3B | ||
| Q3 24 | $1.2B | $1.5B | ||
| Q2 24 | $1.1B | $1.5B | ||
| Q1 24 | $1.2B | $1.0B |
净利润EPAMLII
| Q4 25 | $109.4M | $162.1M | ||
| Q3 25 | $106.8M | $245.8M | ||
| Q2 25 | $88.0M | $277.6M | ||
| Q1 25 | $73.5M | $120.3M | ||
| Q4 24 | $103.3M | $197.7M | ||
| Q3 24 | $136.3M | $239.0M | ||
| Q2 24 | $98.6M | $245.9M | ||
| Q1 24 | $116.2M | $124.3M |
毛利率EPAMLII
| Q4 25 | 30.1% | 34.7% | ||
| Q3 25 | 29.5% | 32.8% | ||
| Q2 25 | 28.8% | 34.8% | ||
| Q1 25 | 26.9% | 30.6% | ||
| Q4 24 | 30.4% | 33.9% | ||
| Q3 24 | 34.6% | 32.6% | ||
| Q2 24 | 29.3% | 33.6% | ||
| Q1 24 | 28.4% | 32.5% |
营业利润率EPAMLII
| Q4 25 | 10.6% | 18.6% | ||
| Q3 25 | 10.4% | 21.7% | ||
| Q2 25 | 9.3% | 23.6% | ||
| Q1 25 | 7.6% | 14.5% | ||
| Q4 24 | 10.9% | 18.2% | ||
| Q3 24 | 15.2% | 20.2% | ||
| Q2 24 | 10.5% | 22.1% | ||
| Q1 24 | 9.5% | 15.9% |
净利率EPAMLII
| Q4 25 | 7.8% | 13.6% | ||
| Q3 25 | 7.7% | 17.2% | ||
| Q2 25 | 6.5% | 18.5% | ||
| Q1 25 | 5.6% | 11.2% | ||
| Q4 24 | 8.3% | 14.7% | ||
| Q3 24 | 11.7% | 16.0% | ||
| Q2 24 | 8.6% | 16.9% | ||
| Q1 24 | 10.0% | 11.9% |
每股收益（稀释后）EPAMLII
| Q4 25 | $1.97 | $4.62 | ||
| Q3 25 | $1.91 | $6.98 | ||
| Q2 25 | $1.56 | $7.82 | ||
| Q1 25 | $1.28 | $3.37 | ||
| Q4 24 | $1.80 | $5.52 | ||
| Q3 24 | $2.37 | $6.68 | ||
| Q2 24 | $1.70 | $6.87 | ||
| Q1 24 | $1.97 | $3.47 |
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 | $1.3B | $34.7M |
| 总债务越低越好 | — | $1.1B |
| 股东权益账面价值 | $3.7B | $1.2B |
| 总资产 | $4.9B | $4.1B |
| 负债/权益比越低杠杆越低 | — | 0.98× |
8季度趋势，按日历期对齐
现金及短期投资EPAMLII
| Q4 25 | $1.3B | $34.7M | ||
| Q3 25 | $1.2B | $59.2M | ||
| Q2 25 | $1.0B | $55.1M | ||
| Q1 25 | $1.2B | $222.9M | ||
| Q4 24 | $1.3B | $422.3M | ||
| Q3 24 | $2.1B | $255.7M | ||
| Q2 24 | $1.8B | $57.8M | ||
| Q1 24 | $2.0B | $57.6M |
总债务EPAMLII
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | $838.2M | ||
| Q2 25 | — | $835.7M | ||
| Q1 25 | — | $834.2M | ||
| Q4 24 | — | $833.1M | ||
| Q3 24 | — | $827.6M | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | — | $1.2B |
股东权益EPAMLII
| Q4 25 | $3.7B | $1.2B | ||
| Q3 25 | $3.7B | $1.1B | ||
| Q2 25 | $3.7B | $900.5M | ||
| Q1 25 | $3.6B | $852.5M | ||
| Q4 24 | $3.6B | $850.2M | ||
| Q3 24 | $3.6B | $754.0M | ||
| Q2 24 | $3.4B | $577.4M | ||
| Q1 24 | $3.5B | $368.8M |
总资产EPAMLII
| Q4 25 | $4.9B | $4.1B | ||
| Q3 25 | $4.8B | $3.5B | ||
| Q2 25 | $4.7B | $3.7B | ||
| Q1 25 | $4.7B | $3.5B | ||
| Q4 24 | $4.8B | $3.5B | ||
| Q3 24 | $4.5B | $3.3B | ||
| Q2 24 | $4.2B | $3.2B | ||
| Q1 24 | $4.4B | $3.0B |
负债/权益比EPAMLII
| Q4 25 | — | 0.98× | ||
| Q3 25 | — | 0.78× | ||
| Q2 25 | — | 0.93× | ||
| Q1 25 | — | 0.98× | ||
| Q4 24 | — | 0.98× | ||
| Q3 24 | — | 1.10× | ||
| Q2 24 | — | 1.95× | ||
| Q1 24 | — | 3.13× |
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 | $405.9M |
| 自由现金流经营现金流 - 资本支出 | $268.1M | $376.7M |
| 自由现金流率自由现金流/营收 | 19.0% | 31.5% |
| 资本支出强度资本支出/营收 | 1.1% | 2.4% |
| 现金转化率经营现金流/净利润 | 2.59× | 2.50× |
| 过去12个月自由现金流最近4个季度 | $612.7M | $638.8M |
8季度趋势，按日历期对齐
经营现金流EPAMLII
| Q4 25 | $282.9M | $405.9M | ||
| Q3 25 | $294.7M | $300.7M | ||
| Q2 25 | $53.2M | $86.8M | ||
| Q1 25 | $24.2M | $-35.8M | ||
| Q4 24 | $130.3M | $332.4M | ||
| Q3 24 | $242.0M | $452.1M | ||
| Q2 24 | $57.0M | $184.0M | ||
| Q1 24 | $129.9M | $-22.8M |
自由现金流EPAMLII
| Q4 25 | $268.1M | $376.7M | ||
| Q3 25 | $286.4M | $265.1M | ||
| Q2 25 | $43.4M | $58.3M | ||
| Q1 25 | $14.8M | $-61.3M | ||
| Q4 24 | $114.5M | $272.2M | ||
| Q3 24 | $237.0M | $410.9M | ||
| Q2 24 | $52.3M | $151.3M | ||
| Q1 24 | $123.2M | $-52.3M |
自由现金流率EPAMLII
| Q4 25 | 19.0% | 31.5% | ||
| Q3 25 | 20.5% | 18.6% | ||
| Q2 25 | 3.2% | 3.9% | ||
| Q1 25 | 1.1% | -5.7% | ||
| Q4 24 | 9.2% | 20.2% | ||
| Q3 24 | 20.3% | 27.4% | ||
| Q2 24 | 4.6% | 10.4% | ||
| Q1 24 | 10.6% | -5.0% |
资本支出强度EPAMLII
| Q4 25 | 1.1% | 2.4% | ||
| Q3 25 | 0.6% | 2.5% | ||
| Q2 25 | 0.7% | 1.9% | ||
| Q1 25 | 0.7% | 2.4% | ||
| Q4 24 | 1.3% | 4.5% | ||
| Q3 24 | 0.4% | 2.8% | ||
| Q2 24 | 0.4% | 2.3% | ||
| Q1 24 | 0.6% | 2.8% |
现金转化率EPAMLII
| Q4 25 | 2.59× | 2.50× | ||
| Q3 25 | 2.76× | 1.22× | ||
| Q2 25 | 0.60× | 0.31× | ||
| Q1 25 | 0.33× | -0.30× | ||
| Q4 24 | 1.26× | 1.68× | ||
| Q3 24 | 1.77× | 1.89× | ||
| Q2 24 | 0.58× | 0.75× | ||
| Q1 24 | 1.12× | -0.18× |
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
EPAM
暂无分部数据
LII
| Residential Heating And Cooling | $699.8M | 59% |
| Commercial Heating And Cooling | $495.2M | 41% |
