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EPAM Systems（EPAM）与SCANSOURCE, INC.（SCSC）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SCANSOURCE, INC.的1.8倍（$1.4B vs $766.5M），EPAM Systems净利率更高（7.8% vs 2.2%，领先5.6%），EPAM Systems同比增速更快（12.8% vs 2.5%），EPAM Systems自由现金流更多（$268.1M vs $28.9M），过去两年EPAM Systems的营收复合增速更高（9.9% vs 0.9%）
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。
ScanSource是全球领先的专业技术分销商，主营销售点系统、条码扫描设备、网络安全产品、云服务及通信解决方案，面向北美、拉美、欧洲的增值经销商、服务提供商及企业客户，覆盖零售、医疗、工业、公共部门等领域。
EPAM vs SCSC — 直观对比
营收规模更大
EPAM
是对方的1.8倍
$766.5M
营收增速更快
EPAM
高出10.2%
2.5%
净利率更高
EPAM
高出5.6%
2.2%
自由现金流更多
EPAM
多$239.2M
$28.9M
两年增速更快
EPAM
近两年复合增速
0.9%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $766.5M |
| 净利润 | $109.4M | $16.5M |
| 毛利率 | 30.1% | 13.4% |
| 营业利润率 | 10.6% | 2.3% |
| 净利率 | 7.8% | 2.2% |
| 营收同比 | 12.8% | 2.5% |
| 净利润同比 | 5.9% | -3.3% |
| 每股收益（稀释后） | $1.97 | $0.75 |
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EPAMSCSC
| Q4 25 | $1.4B | $766.5M | ||
| Q3 25 | $1.4B | $739.6M | ||
| Q2 25 | $1.4B | $812.9M | ||
| Q1 25 | $1.3B | $704.8M | ||
| Q4 24 | $1.2B | $747.5M | ||
| Q3 24 | $1.2B | $775.6M | ||
| Q2 24 | $1.1B | $746.1M | ||
| Q1 24 | $1.2B | $752.6M |
净利润EPAMSCSC
| Q4 25 | $109.4M | $16.5M | ||
| Q3 25 | $106.8M | $19.9M | ||
| Q2 25 | $88.0M | $20.1M | ||
| Q1 25 | $73.5M | $17.4M | ||
| Q4 24 | $103.3M | $17.1M | ||
| Q3 24 | $136.3M | $17.0M | ||
| Q2 24 | $98.6M | $16.1M | ||
| Q1 24 | $116.2M | $12.8M |
毛利率EPAMSCSC
| Q4 25 | 30.1% | 13.4% | ||
| Q3 25 | 29.5% | 14.5% | ||
| Q2 25 | 28.8% | 12.9% | ||
| Q1 25 | 26.9% | 14.2% | ||
| Q4 24 | 30.4% | 13.6% | ||
| Q3 24 | 34.6% | 13.1% | ||
| Q2 24 | 29.3% | 13.0% | ||
| Q1 24 | 28.4% | 12.6% |
营业利润率EPAMSCSC
| Q4 25 | 10.6% | 2.3% | ||
| Q3 25 | 10.4% | 3.5% | ||
| Q2 25 | 9.3% | 3.3% | ||
| Q1 25 | 7.6% | 3.2% | ||
| Q4 24 | 10.9% | 2.5% | ||
| Q3 24 | 15.2% | 2.3% | ||
| Q2 24 | 10.5% | 2.9% | ||
| Q1 24 | 9.5% | 2.3% |
净利率EPAMSCSC
| Q4 25 | 7.8% | 2.2% | ||
| Q3 25 | 7.7% | 2.7% | ||
| Q2 25 | 6.5% | 2.5% | ||
| Q1 25 | 5.6% | 2.5% | ||
| Q4 24 | 8.3% | 2.3% | ||
| Q3 24 | 11.7% | 2.2% | ||
| Q2 24 | 8.6% | 2.2% | ||
| Q1 24 | 10.0% | 1.7% |
每股收益（稀释后）EPAMSCSC
| Q4 25 | $1.97 | $0.75 | ||
| Q3 25 | $1.91 | $0.89 | ||
| Q2 25 | $1.56 | $0.87 | ||
| Q1 25 | $1.28 | $0.74 | ||
| Q4 24 | $1.80 | $0.70 | ||
| Q3 24 | $2.37 | $0.69 | ||
| Q2 24 | $1.70 | $0.66 | ||
| Q1 24 | $1.97 | $0.50 |
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 | $83.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $3.7B | $910.9M |
| 总资产 | $4.9B | $1.7B |
| 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EPAMSCSC
| Q4 25 | $1.3B | $83.5M | ||
| Q3 25 | $1.2B | $124.9M | ||
| Q2 25 | $1.0B | $126.2M | ||
| Q1 25 | $1.2B | $146.3M | ||
| Q4 24 | $1.3B | $110.5M | ||
| Q3 24 | $2.1B | $145.0M | ||
| Q2 24 | $1.8B | $185.5M | ||
| Q1 24 | $2.0B | $159.1M |
股东权益EPAMSCSC
| Q4 25 | $3.7B | $910.9M | ||
| Q3 25 | $3.7B | $914.0M | ||
| Q2 25 | $3.7B | $906.4M | ||
| Q1 25 | $3.6B | $901.7M | ||
| Q4 24 | $3.6B | $900.7M | ||
| Q3 24 | $3.6B | $920.9M | ||
| Q2 24 | $3.4B | $924.3M | ||
| Q1 24 | $3.5B | $944.1M |
总资产EPAMSCSC
| Q4 25 | $4.9B | $1.7B | ||
| Q3 25 | $4.8B | $1.7B | ||
| Q2 25 | $4.7B | $1.8B | ||
| Q1 25 | $4.7B | $1.7B | ||
| Q4 24 | $4.8B | $1.7B | ||
| Q3 24 | $4.5B | $1.8B | ||
| Q2 24 | $4.2B | $1.8B | ||
| Q1 24 | $4.4B | $1.8B |
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 | $30.8M |
| 自由现金流经营现金流 - 资本支出 | $268.1M | $28.9M |
| 自由现金流率自由现金流/营收 | 19.0% | 3.8% |
| 资本支出强度资本支出/营收 | 1.1% | 0.3% |
| 现金转化率经营现金流/净利润 | 2.59× | 1.87× |
| 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EPAMSCSC
| Q4 25 | $282.9M | $30.8M | ||
| Q3 25 | $294.7M | $23.2M | ||
| Q2 25 | $53.2M | — | ||
| Q1 25 | $24.2M | $66.1M | ||
| Q4 24 | $130.3M | $-6.2M | ||
| Q3 24 | $242.0M | $44.8M | ||
| Q2 24 | $57.0M | — | ||
| Q1 24 | $129.9M | $160.2M |
自由现金流EPAMSCSC
| Q4 25 | $268.1M | $28.9M | ||
| Q3 25 | $286.4M | $20.8M | ||
| Q2 25 | $43.4M | — | ||
| Q1 25 | $14.8M | $64.6M | ||
| Q4 24 | $114.5M | $-8.2M | ||
| Q3 24 | $237.0M | $42.5M | ||
| Q2 24 | $52.3M | — | ||
| Q1 24 | $123.2M | $157.7M |
自由现金流率EPAMSCSC
| Q4 25 | 19.0% | 3.8% | ||
| Q3 25 | 20.5% | 2.8% | ||
| Q2 25 | 3.2% | — | ||
| Q1 25 | 1.1% | 9.2% | ||
| Q4 24 | 9.2% | -1.1% | ||
| Q3 24 | 20.3% | 5.5% | ||
| Q2 24 | 4.6% | — | ||
| Q1 24 | 10.6% | 21.0% |
资本支出强度EPAMSCSC
| Q4 25 | 1.1% | 0.3% | ||
| Q3 25 | 0.6% | 0.3% | ||
| Q2 25 | 0.7% | 0.3% | ||
| Q1 25 | 0.7% | 0.2% | ||
| Q4 24 | 1.3% | 0.3% | ||
| Q3 24 | 0.4% | 0.3% | ||
| Q2 24 | 0.4% | 0.2% | ||
| Q1 24 | 0.6% | 0.3% |
现金转化率EPAMSCSC
| Q4 25 | 2.59× | 1.87× | ||
| Q3 25 | 2.76× | 1.17× | ||
| Q2 25 | 0.60× | — | ||
| Q1 25 | 0.33× | 3.79× | ||
| Q4 24 | 1.26× | -0.36× | ||
| Q3 24 | 1.77× | 2.64× | ||
| Q2 24 | 0.58× | — | ||
| Q1 24 | 1.12× | 12.51× |
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
SCSC
| Products And Services | $723.4M | 94% |
| Intelisys Advisory | $25.0M | 3% |
| Recurring Revenue | $18.2M | 2% |
