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EPAM Systems（EPAM）与森萨塔科技（ST）财务数据对比。点击上方公司名可切换其他公司
EPAM Systems的季度营收约是森萨塔科技的1.5倍（$1.4B vs $934.8M），森萨塔科技净利率更高（9.3% vs 7.8%，领先1.5%），EPAM Systems同比增速更快（12.8% vs 2.6%），EPAM Systems自由现金流更多（$268.1M vs $104.6M），过去两年EPAM Systems的营收复合增速更高（9.9% vs -5.0%）
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。
森萨塔科技控股有限公司是全球领先的工业科技企业，主营传感器、电气保护及控制解决方案的研发、生产与销售，产品覆盖汽车、工业、航空航天、暖通空调、电信等多个下游领域，服务全球制造类企业客户。
EPAM vs ST — 直观对比
营收规模更大
EPAM
是对方的1.5倍
$934.8M
营收增速更快
EPAM
高出10.2%
2.6%
净利率更高
ST
高出1.5%
7.8%
自由现金流更多
EPAM
多$163.5M
$104.6M
两年增速更快
EPAM
近两年复合增速
-5.0%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $934.8M |
| 净利润 | $109.4M | $87.1M |
| 毛利率 | 30.1% | 30.6% |
| 营业利润率 | 10.6% | 15.1% |
| 净利率 | 7.8% | 9.3% |
| 营收同比 | 12.8% | 2.6% |
| 净利润同比 | 5.9% | 24.6% |
| 每股收益（稀释后） | $1.97 | $0.59 |
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EPAMST
| Q1 26 | — | $934.8M | ||
| Q4 25 | $1.4B | $917.9M | ||
| Q3 25 | $1.4B | $932.0M | ||
| Q2 25 | $1.4B | $943.4M | ||
| Q1 25 | $1.3B | $911.3M | ||
| Q4 24 | $1.2B | $907.7M | ||
| Q3 24 | $1.2B | $982.8M | ||
| Q2 24 | $1.1B | $1.0B |
净利润EPAMST
| Q1 26 | — | $87.1M | ||
| Q4 25 | $109.4M | $63.2M | ||
| Q3 25 | $106.8M | $-162.5M | ||
| Q2 25 | $88.0M | $60.7M | ||
| Q1 25 | $73.5M | $69.9M | ||
| Q4 24 | $103.3M | $5.8M | ||
| Q3 24 | $136.3M | $-25.0M | ||
| Q2 24 | $98.6M | $71.7M |
毛利率EPAMST
| Q1 26 | — | 30.6% | ||
| Q4 25 | 30.1% | 29.0% | ||
| Q3 25 | 29.5% | 27.8% | ||
| Q2 25 | 28.8% | 30.3% | ||
| Q1 25 | 26.9% | 29.9% | ||
| Q4 24 | 30.4% | 27.1% | ||
| Q3 24 | 34.6% | 28.6% | ||
| Q2 24 | 29.3% | 30.0% |
营业利润率EPAMST
| Q1 26 | — | 15.1% | ||
| Q4 25 | 10.6% | 10.9% | ||
| Q3 25 | 10.4% | -13.2% | ||
| Q2 25 | 9.3% | 14.6% | ||
| Q1 25 | 7.6% | 13.4% | ||
| Q4 24 | 10.9% | 8.1% | ||
| Q3 24 | 15.2% | -20.3% | ||
| Q2 24 | 10.5% | 12.5% |
净利率EPAMST
| Q1 26 | — | 9.3% | ||
| Q4 25 | 7.8% | 6.9% | ||
| Q3 25 | 7.7% | -17.4% | ||
| Q2 25 | 6.5% | 6.4% | ||
| Q1 25 | 5.6% | 7.7% | ||
| Q4 24 | 8.3% | 0.6% | ||
| Q3 24 | 11.7% | -2.5% | ||
| Q2 24 | 8.6% | 6.9% |
每股收益（稀释后）EPAMST
| Q1 26 | — | $0.59 | ||
| Q4 25 | $1.97 | $0.45 | ||
| Q3 25 | $1.91 | $-1.12 | ||
| Q2 25 | $1.56 | $0.41 | ||
| Q1 25 | $1.28 | $0.47 | ||
| Q4 24 | $1.80 | $0.05 | ||
| Q3 24 | $2.37 | $-0.17 | ||
| Q2 24 | $1.70 | $0.47 |
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 | $635.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $3.7B | $2.9B |
| 总资产 | $4.9B | $6.8B |
| 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EPAMST
| Q1 26 | — | $635.1M | ||
| Q4 25 | $1.3B | $573.0M | ||
| Q3 25 | $1.2B | $791.3M | ||
| Q2 25 | $1.0B | $661.8M | ||
| Q1 25 | $1.2B | $588.1M | ||
| Q4 24 | $1.3B | $593.7M | ||
| Q3 24 | $2.1B | $506.2M | ||
| Q2 24 | $1.8B | $1.0B |
总债务EPAMST
| Q1 26 | — | — | ||
| Q4 25 | — | $2.8B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $3.2B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益EPAMST
| Q1 26 | — | $2.9B | ||
| Q4 25 | $3.7B | $2.8B | ||
| Q3 25 | $3.7B | $2.7B | ||
| Q2 25 | $3.7B | $2.9B | ||
| Q1 25 | $3.6B | $2.8B | ||
| Q4 24 | $3.6B | $2.9B | ||
| Q3 24 | $3.6B | $3.0B | ||
| Q2 24 | $3.4B | $3.0B |
总资产EPAMST
| Q1 26 | — | $6.8B | ||
| Q4 25 | $4.9B | $6.8B | ||
| Q3 25 | $4.8B | $7.1B | ||
| Q2 25 | $4.7B | $7.3B | ||
| Q1 25 | $4.7B | $7.2B | ||
| Q4 24 | $4.8B | $7.1B | ||
| Q3 24 | $4.5B | $7.3B | ||
| Q2 24 | $4.2B | $8.2B |
负债/权益比EPAMST
| Q1 26 | — | — | ||
| Q4 25 | — | 1.02× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.11× | ||
| Q3 24 | — | — | ||
| Q2 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 | $122.5M |
| 自由现金流经营现金流 - 资本支出 | $268.1M | $104.6M |
| 自由现金流率自由现金流/营收 | 19.0% | 11.2% |
| 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× | 1.41× |
| 过去12个月自由现金流最近4个季度 | $612.7M | $508.3M |
8季度趋势，按日历期对齐
经营现金流EPAMST
| Q1 26 | — | $122.5M | ||
| Q4 25 | $282.9M | $201.5M | ||
| Q3 25 | $294.7M | $159.9M | ||
| Q2 25 | $53.2M | $140.9M | ||
| Q1 25 | $24.2M | $119.2M | ||
| Q4 24 | $130.3M | $170.7M | ||
| Q3 24 | $242.0M | $130.9M | ||
| Q2 24 | $57.0M | $143.5M |
自由现金流EPAMST
| Q1 26 | — | $104.6M | ||
| Q4 25 | $268.1M | $151.9M | ||
| Q3 25 | $286.4M | $136.2M | ||
| Q2 25 | $43.4M | $115.5M | ||
| Q1 25 | $14.8M | $86.6M | ||
| Q4 24 | $114.5M | $138.9M | ||
| Q3 24 | $237.0M | $91.3M | ||
| Q2 24 | $52.3M | $98.4M |
自由现金流率EPAMST
| Q1 26 | — | 11.2% | ||
| Q4 25 | 19.0% | 16.6% | ||
| Q3 25 | 20.5% | 14.6% | ||
| Q2 25 | 3.2% | 12.2% | ||
| Q1 25 | 1.1% | 9.5% | ||
| Q4 24 | 9.2% | 15.3% | ||
| Q3 24 | 20.3% | 9.3% | ||
| Q2 24 | 4.6% | 9.5% |
资本支出强度EPAMST
| Q1 26 | — | — | ||
| Q4 25 | 1.1% | 5.4% | ||
| Q3 25 | 0.6% | 2.5% | ||
| Q2 25 | 0.7% | 2.7% | ||
| Q1 25 | 0.7% | 3.6% | ||
| Q4 24 | 1.3% | 3.5% | ||
| Q3 24 | 0.4% | 4.0% | ||
| Q2 24 | 0.4% | 4.4% |
现金转化率EPAMST
| Q1 26 | — | 1.41× | ||
| Q4 25 | 2.59× | 3.19× | ||
| Q3 25 | 2.76× | — | ||
| Q2 25 | 0.60× | 2.32× | ||
| Q1 25 | 0.33× | 1.70× | ||
| Q4 24 | 1.26× | 29.50× | ||
| Q3 24 | 1.77× | — | ||
| Q2 24 | 0.58× | 2.00× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
