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EPAM Systems（EPAM）与MSC INDUSTRIAL DIRECT CO INC（MSM）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MSC INDUSTRIAL DIRECT CO INC的1.5倍（$1.4B vs $965.7M），EPAM Systems净利率更高（7.8% vs 5.4%，领先2.4%），EPAM Systems同比增速更快（12.8% vs 4.0%），EPAM Systems自由现金流更多（$268.1M vs $7.4M），过去两年EPAM Systems的营收复合增速更高（9.9% vs -3.4%）
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。
MSC工业直销公司（MSC）通过旗下主要子公司MSC工业供应公司，是美国规模最大的工业设备分销商之一，可提供超过150万种金属加工及其他工业类产品，广泛服务于工业制造、维修运维等领域的客户需求。
EPAM vs MSM — 直观对比
营收规模更大
EPAM
是对方的1.5倍
$965.7M
营收增速更快
EPAM
高出8.7%
4.0%
净利率更高
EPAM
高出2.4%
5.4%
自由现金流更多
EPAM
多$260.7M
$7.4M
两年增速更快
EPAM
近两年复合增速
-3.4%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $965.7M |
| 净利润 | $109.4M | $51.8M |
| 毛利率 | 30.1% | 40.7% |
| 营业利润率 | 10.6% | 7.9% |
| 净利率 | 7.8% | 5.4% |
| 营收同比 | 12.8% | 4.0% |
| 净利润同比 | 5.9% | 11.1% |
| 每股收益（稀释后） | $1.97 | $0.93 |
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EPAMMSM
| Q4 25 | $1.4B | $965.7M | ||
| Q3 25 | $1.4B | $978.2M | ||
| Q2 25 | $1.4B | $971.1M | ||
| Q1 25 | $1.3B | — | ||
| Q4 24 | $1.2B | $928.5M | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.1B | $979.4M | ||
| Q1 24 | $1.2B | $935.3M |
净利润EPAMMSM
| Q4 25 | $109.4M | $51.8M | ||
| Q3 25 | $106.8M | $56.5M | ||
| Q2 25 | $88.0M | $56.8M | ||
| Q1 25 | $73.5M | — | ||
| Q4 24 | $103.3M | $46.6M | ||
| Q3 24 | $136.3M | — | ||
| Q2 24 | $98.6M | $71.7M | ||
| Q1 24 | $116.2M | $61.8M |
毛利率EPAMMSM
| Q4 25 | 30.1% | 40.7% | ||
| Q3 25 | 29.5% | 40.4% | ||
| Q2 25 | 28.8% | 41.0% | ||
| Q1 25 | 26.9% | — | ||
| Q4 24 | 30.4% | 40.7% | ||
| Q3 24 | 34.6% | — | ||
| Q2 24 | 29.3% | 40.9% | ||
| Q1 24 | 28.4% | 41.5% |
营业利润率EPAMMSM
| Q4 25 | 10.6% | 7.9% | ||
| Q3 25 | 10.4% | 8.6% | ||
| Q2 25 | 9.3% | 8.5% | ||
| Q1 25 | 7.6% | — | ||
| Q4 24 | 10.9% | 7.8% | ||
| Q3 24 | 15.2% | — | ||
| Q2 24 | 10.5% | 10.9% | ||
| Q1 24 | 9.5% | 9.7% |
净利率EPAMMSM
| Q4 25 | 7.8% | 5.4% | ||
| Q3 25 | 7.7% | 5.8% | ||
| Q2 25 | 6.5% | 5.9% | ||
| Q1 25 | 5.6% | — | ||
| Q4 24 | 8.3% | 5.0% | ||
| Q3 24 | 11.7% | — | ||
| Q2 24 | 8.6% | 7.3% | ||
| Q1 24 | 10.0% | 6.6% |
每股收益（稀释后）EPAMMSM
| Q4 25 | $1.97 | $0.93 | ||
| Q3 25 | $1.91 | $1.02 | ||
| Q2 25 | $1.56 | $1.02 | ||
| Q1 25 | $1.28 | — | ||
| Q4 24 | $1.80 | $0.83 | ||
| Q3 24 | $2.37 | — | ||
| Q2 24 | $1.70 | $1.27 | ||
| Q1 24 | $1.97 | $1.10 |
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 | $40.3M |
| 总债务越低越好 | — | $214.1M |
| 股东权益账面价值 | $3.7B | $1.4B |
| 总资产 | $4.9B | $2.5B |
| 负债/权益比越低杠杆越低 | — | 0.16× |
8季度趋势，按日历期对齐
现金及短期投资EPAMMSM
| Q4 25 | $1.3B | $40.3M | ||
| Q3 25 | $1.2B | $56.2M | ||
| Q2 25 | $1.0B | $71.7M | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.3B | $57.3M | ||
| Q3 24 | $2.1B | — | ||
| Q2 24 | $1.8B | $25.9M | ||
| Q1 24 | $2.0B | $22.2M |
总债务EPAMMSM
| Q4 25 | — | $214.1M | ||
| Q3 25 | — | $168.8M | ||
| Q2 25 | — | $285.0M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $289.9M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $299.8M | ||
| Q1 24 | — | $294.5M |
股东权益EPAMMSM
| Q4 25 | $3.7B | $1.4B | ||
| Q3 25 | $3.7B | $1.4B | ||
| Q2 25 | $3.7B | $1.4B | ||
| Q1 25 | $3.6B | — | ||
| Q4 24 | $3.6B | $1.4B | ||
| Q3 24 | $3.6B | — | ||
| Q2 24 | $3.4B | $1.4B | ||
| Q1 24 | $3.5B | $1.4B |
总资产EPAMMSM
| Q4 25 | $4.9B | $2.5B | ||
| Q3 25 | $4.8B | $2.5B | ||
| Q2 25 | $4.7B | $2.5B | ||
| Q1 25 | $4.7B | — | ||
| Q4 24 | $4.8B | $2.5B | ||
| Q3 24 | $4.5B | — | ||
| Q2 24 | $4.2B | $2.5B | ||
| Q1 24 | $4.4B | $2.5B |
负债/权益比EPAMMSM
| Q4 25 | — | 0.16× | ||
| Q3 25 | — | 0.12× | ||
| Q2 25 | — | 0.21× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.21× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.21× | ||
| Q1 24 | — | 0.21× |
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 | $29.4M |
| 自由现金流经营现金流 - 资本支出 | $268.1M | $7.4M |
| 自由现金流率自由现金流/营收 | 19.0% | 0.8% |
| 资本支出强度资本支出/营收 | 1.1% | 2.3% |
| 现金转化率经营现金流/净利润 | 2.59× | 0.57× |
| 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EPAMMSM
| Q4 25 | $282.9M | $29.4M | ||
| Q3 25 | $294.7M | — | ||
| Q2 25 | $53.2M | $151.6M | ||
| Q1 25 | $24.2M | — | ||
| Q4 24 | $130.3M | $101.9M | ||
| Q3 24 | $242.0M | — | ||
| Q2 24 | $57.0M | $143.5M | ||
| Q1 24 | $129.9M | $78.7M |
自由现金流EPAMMSM
| Q4 25 | $268.1M | $7.4M | ||
| Q3 25 | $286.4M | — | ||
| Q2 25 | $43.4M | $100.7M | ||
| Q1 25 | $14.8M | — | ||
| Q4 24 | $114.5M | $81.7M | ||
| Q3 24 | $237.0M | — | ||
| Q2 24 | $52.3M | $114.0M | ||
| Q1 24 | $123.2M | $53.4M |
自由现金流率EPAMMSM
| Q4 25 | 19.0% | 0.8% | ||
| Q3 25 | 20.5% | — | ||
| Q2 25 | 3.2% | 10.4% | ||
| Q1 25 | 1.1% | — | ||
| Q4 24 | 9.2% | 8.8% | ||
| Q3 24 | 20.3% | — | ||
| Q2 24 | 4.6% | 11.6% | ||
| Q1 24 | 10.6% | 5.7% |
资本支出强度EPAMMSM
| Q4 25 | 1.1% | 2.3% | ||
| Q3 25 | 0.6% | — | ||
| Q2 25 | 0.7% | 5.2% | ||
| Q1 25 | 0.7% | — | ||
| Q4 24 | 1.3% | 2.2% | ||
| Q3 24 | 0.4% | — | ||
| Q2 24 | 0.4% | 3.0% | ||
| Q1 24 | 0.6% | 2.7% |
现金转化率EPAMMSM
| Q4 25 | 2.59× | 0.57× | ||
| Q3 25 | 2.76× | — | ||
| Q2 25 | 0.60× | 2.67× | ||
| Q1 25 | 0.33× | — | ||
| Q4 24 | 1.26× | 2.18× | ||
| Q3 24 | 1.77× | — | ||
| Q2 24 | 0.58× | 2.00× | ||
| Q1 24 | 1.12× | 1.27× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
