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EPAM Systems（EPAM）与PPL Corporation（PPL）财务数据对比。点击上方公司名可切换其他公司
PPL Corporation的季度营收约是EPAM Systems的1.7倍（$2.3B vs $1.4B），PPL Corporation净利率更高（11.3% vs 7.8%，领先3.6%），EPAM Systems同比增速更快（12.8% vs 7.2%），EPAM Systems自由现金流更多（$268.1M vs $-614.0M），过去两年EPAM Systems的营收复合增速更高（9.9% vs 1.0%）
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。
PPL公司是总部位于美国宾夕法尼亚州的能源公用事业控股企业，为宾州、肯塔基州、罗德岛州约350万居民及工商业用户提供电力与天然气供应服务，核心业务方向包括电网现代化升级、清洁能源转型、高可靠性可持续能源服务供给。
EPAM vs PPL — 直观对比
营收规模更大
PPL
是对方的1.7倍
$1.4B
营收增速更快
EPAM
高出5.5%
7.2%
净利率更高
PPL
高出3.6%
7.8%
自由现金流更多
EPAM
多$882.1M
$-614.0M
两年增速更快
EPAM
近两年复合增速
1.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $2.3B |
| 净利润 | $109.4M | $266.0M |
| 毛利率 | 30.1% | — |
| 营业利润率 | 10.6% | 20.3% |
| 净利率 | 7.8% | 11.3% |
| 营收同比 | 12.8% | 7.2% |
| 净利润同比 | 5.9% | 50.3% |
| 每股收益（稀释后） | $1.97 | $0.35 |
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EPAMPPL
| Q4 25 | $1.4B | $2.3B | ||
| Q3 25 | $1.4B | $2.2B | ||
| Q2 25 | $1.4B | $2.0B | ||
| Q1 25 | $1.3B | $2.5B | ||
| Q4 24 | $1.2B | $2.2B | ||
| Q3 24 | $1.2B | $2.1B | ||
| Q2 24 | $1.1B | $1.9B | ||
| Q1 24 | $1.2B | $2.3B |
净利润EPAMPPL
| Q4 25 | $109.4M | $266.0M | ||
| Q3 25 | $106.8M | $318.0M | ||
| Q2 25 | $88.0M | $183.0M | ||
| Q1 25 | $73.5M | $414.0M | ||
| Q4 24 | $103.3M | $177.0M | ||
| Q3 24 | $136.3M | $214.0M | ||
| Q2 24 | $98.6M | $190.0M | ||
| Q1 24 | $116.2M | $307.0M |
毛利率EPAMPPL
| 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EPAMPPL
| Q4 25 | 10.6% | 20.3% | ||
| Q3 25 | 10.4% | 25.4% | ||
| Q2 25 | 9.3% | 19.9% | ||
| Q1 25 | 7.6% | 26.6% | ||
| Q4 24 | 10.9% | 17.2% | ||
| Q3 24 | 15.2% | 20.6% | ||
| Q2 24 | 10.5% | 20.8% | ||
| Q1 24 | 9.5% | 23.7% |
净利率EPAMPPL
| Q4 25 | 7.8% | 11.3% | ||
| Q3 25 | 7.7% | 14.2% | ||
| Q2 25 | 6.5% | 9.0% | ||
| Q1 25 | 5.6% | 16.3% | ||
| Q4 24 | 8.3% | 8.1% | ||
| Q3 24 | 11.7% | 10.3% | ||
| Q2 24 | 8.6% | 10.1% | ||
| Q1 24 | 10.0% | 13.3% |
每股收益（稀释后）EPAMPPL
| Q4 25 | $1.97 | $0.35 | ||
| Q3 25 | $1.91 | $0.43 | ||
| Q2 25 | $1.56 | $0.25 | ||
| Q1 25 | $1.28 | $0.56 | ||
| Q4 24 | $1.80 | $0.23 | ||
| Q3 24 | $2.37 | $0.29 | ||
| Q2 24 | $1.70 | $0.26 | ||
| Q1 24 | $1.97 | $0.42 |
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 | $1.1B |
| 总债务越低越好 | — | $18.9B |
| 股东权益账面价值 | $3.7B | $14.9B |
| 总资产 | $4.9B | $45.2B |
| 负债/权益比越低杠杆越低 | — | 1.27× |
8季度趋势，按日历期对齐
现金及短期投资EPAMPPL
| Q4 25 | $1.3B | $1.1B | ||
| Q3 25 | $1.2B | $1.1B | ||
| Q2 25 | $1.0B | $294.0M | ||
| Q1 25 | $1.2B | $312.0M | ||
| Q4 24 | $1.3B | $306.0M | ||
| Q3 24 | $2.1B | $542.0M | ||
| Q2 24 | $1.8B | $282.0M | ||
| Q1 24 | $2.0B | $276.0M |
总债务EPAMPPL
| Q4 25 | — | $18.9B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $16.5B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益EPAMPPL
| Q4 25 | $3.7B | $14.9B | ||
| Q3 25 | $3.7B | $14.4B | ||
| Q2 25 | $3.7B | $14.3B | ||
| Q1 25 | $3.6B | $14.3B | ||
| Q4 24 | $3.6B | $14.1B | ||
| Q3 24 | $3.6B | $14.1B | ||
| Q2 24 | $3.4B | $14.1B | ||
| Q1 24 | $3.5B | $14.1B |
总资产EPAMPPL
| Q4 25 | $4.9B | $45.2B | ||
| Q3 25 | $4.8B | $43.9B | ||
| Q2 25 | $4.7B | $42.4B | ||
| Q1 25 | $4.7B | $41.8B | ||
| Q4 24 | $4.8B | $41.1B | ||
| Q3 24 | $4.5B | $40.5B | ||
| Q2 24 | $4.2B | $39.8B | ||
| Q1 24 | $4.4B | $39.6B |
负债/权益比EPAMPPL
| Q4 25 | — | 1.27× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.17× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $548.0M |
| 自由现金流经营现金流 - 资本支出 | $268.1M | $-614.0M |
| 自由现金流率自由现金流/营收 | 19.0% | -26.1% |
| 资本支出强度资本支出/营收 | 1.1% | 49.5% |
| 现金转化率经营现金流/净利润 | 2.59× | 2.06× |
| 过去12个月自由现金流最近4个季度 | $612.7M | $-1.4B |
8季度趋势，按日历期对齐
经营现金流EPAMPPL
| Q4 25 | $282.9M | $548.0M | ||
| Q3 25 | $294.7M | $966.0M | ||
| Q2 25 | $53.2M | $602.0M | ||
| Q1 25 | $24.2M | $513.0M | ||
| Q4 24 | $130.3M | $511.0M | ||
| Q3 24 | $242.0M | $781.0M | ||
| Q2 24 | $57.0M | $766.0M | ||
| Q1 24 | $129.9M | $282.0M |
自由现金流EPAMPPL
| Q4 25 | $268.1M | $-614.0M | ||
| Q3 25 | $286.4M | $-179.0M | ||
| Q2 25 | $43.4M | $-328.0M | ||
| Q1 25 | $14.8M | $-280.0M | ||
| Q4 24 | $114.5M | $-349.0M | ||
| Q3 24 | $237.0M | $102.0M | ||
| Q2 24 | $52.3M | $96.0M | ||
| Q1 24 | $123.2M | $-314.0M |
自由现金流率EPAMPPL
| Q4 25 | 19.0% | -26.1% | ||
| Q3 25 | 20.5% | -8.0% | ||
| Q2 25 | 3.2% | -16.1% | ||
| Q1 25 | 1.1% | -11.0% | ||
| Q4 24 | 9.2% | -15.9% | ||
| Q3 24 | 20.3% | 4.9% | ||
| Q2 24 | 4.6% | 5.1% | ||
| Q1 24 | 10.6% | -13.6% |
资本支出强度EPAMPPL
| Q4 25 | 1.1% | 49.5% | ||
| Q3 25 | 0.6% | 51.2% | ||
| Q2 25 | 0.7% | 45.6% | ||
| Q1 25 | 0.7% | 31.2% | ||
| Q4 24 | 1.3% | 39.3% | ||
| Q3 24 | 0.4% | 32.7% | ||
| Q2 24 | 0.4% | 35.8% | ||
| Q1 24 | 0.6% | 25.9% |
现金转化率EPAMPPL
| Q4 25 | 2.59× | 2.06× | ||
| Q3 25 | 2.76× | 3.04× | ||
| Q2 25 | 0.60× | 3.29× | ||
| Q1 25 | 0.33× | 1.24× | ||
| Q4 24 | 1.26× | 2.89× | ||
| Q3 24 | 1.77× | 3.65× | ||
| Q2 24 | 0.58× | 4.03× | ||
| Q1 24 | 1.12× | 0.92× |
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
PPL
| Rhode Island Regulated | $539.0M | 23% |
| Other | $532.0M | 23% |
| Residential | $451.0M | 19% |
| Nonrelated Party | $425.0M | 18% |
| Transmission | $228.0M | 10% |
| Commercial | $117.0M | 5% |
| Wholesale Other | $23.0M | 1% |
| Industrial | $14.0M | 1% |
| Related Party | $13.0M | 1% |
| Wholesale Municipal | $6.0M | 0% |
