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EPAM Systems（EPAM）与VinFast Auto Ltd.（VFS）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VinFast Auto Ltd.的2.0倍（$1.4B vs $718.6M），EPAM Systems净利率更高（7.8% vs -2.8%，领先10.6%）
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。
VinFast Auto Ltd.是越南跨国汽车企业，由越南最大私营综合企业集团之一Vingroup创立。Vingroup由越南知名企业家潘日旺创办，业务覆盖地产、零售、医疗、科技等多个领域，是越南本土头部企业集团。
EPAM vs VFS — 直观对比
营收规模更大
EPAM
是对方的2.0倍
$718.6M
净利率更高
EPAM
高出10.6%
-2.8%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $718.6M |
| 净利润 | $109.4M | $-20.0M |
| 毛利率 | 30.1% | — |
| 营业利润率 | 10.6% | -96.1% |
| 净利率 | 7.8% | -2.8% |
| 营收同比 | 12.8% | — |
| 净利润同比 | 5.9% | — |
| 每股收益（稀释后） | $1.97 | — |
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EPAMVFS
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.4B | $718.6M | ||
| Q2 25 | $1.4B | $663.0M | ||
| Q1 25 | $1.3B | $656.5M | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.2B | $511.6M | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $1.2B | $302.6M |
净利润EPAMVFS
| Q4 25 | $109.4M | — | ||
| Q3 25 | $106.8M | $-20.0M | ||
| Q2 25 | $88.0M | $-51.8M | ||
| Q1 25 | $73.5M | $-26.1M | ||
| Q4 24 | $103.3M | — | ||
| Q3 24 | $136.3M | $-10.4M | ||
| Q2 24 | $98.6M | — | ||
| Q1 24 | $116.2M | $-618.3M |
毛利率EPAMVFS
| 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EPAMVFS
| Q4 25 | 10.6% | — | ||
| Q3 25 | 10.4% | -96.1% | ||
| Q2 25 | 9.3% | -79.0% | ||
| Q1 25 | 7.6% | -74.0% | ||
| Q4 24 | 10.9% | — | ||
| Q3 24 | 15.2% | -65.9% | ||
| Q2 24 | 10.5% | — | ||
| Q1 24 | 9.5% | -139.4% |
净利率EPAMVFS
| Q4 25 | 7.8% | — | ||
| Q3 25 | 7.7% | -2.8% | ||
| Q2 25 | 6.5% | -7.8% | ||
| Q1 25 | 5.6% | -4.0% | ||
| Q4 24 | 8.3% | — | ||
| Q3 24 | 11.7% | -2.0% | ||
| Q2 24 | 8.6% | — | ||
| Q1 24 | 10.0% | -204.3% |
每股收益（稀释后）EPAMVFS
| Q4 25 | $1.97 | — | ||
| Q3 25 | $1.91 | — | ||
| Q2 25 | $1.56 | — | ||
| Q1 25 | $1.28 | — | ||
| Q4 24 | $1.80 | — | ||
| Q3 24 | $2.37 | — | ||
| Q2 24 | $1.70 | — | ||
| Q1 24 | $1.97 | — |
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 | $8.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $3.7B | — |
| 总资产 | $4.9B | $183.2M |
| 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EPAMVFS
| Q4 25 | $1.3B | — | ||
| Q3 25 | $1.2B | $8.8M | ||
| Q2 25 | $1.0B | $650.0M | ||
| Q1 25 | $1.2B | $2.4M | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $2.1B | $1.9M | ||
| Q2 24 | $1.8B | — | ||
| Q1 24 | $2.0B | $3.0M |
股东权益EPAMVFS
| Q4 25 | $3.7B | — | ||
| Q3 25 | $3.7B | — | ||
| Q2 25 | $3.7B | $-7.2B | ||
| Q1 25 | $3.6B | — | ||
| Q4 24 | $3.6B | — | ||
| Q3 24 | $3.6B | — | ||
| Q2 24 | $3.4B | — | ||
| Q1 24 | $3.5B | — |
总资产EPAMVFS
| Q4 25 | $4.9B | — | ||
| Q3 25 | $4.8B | $183.2M | ||
| Q2 25 | $4.7B | $7.2B | ||
| Q1 25 | $4.7B | $158.2M | ||
| Q4 24 | $4.8B | — | ||
| Q3 24 | $4.5B | $151.8M | ||
| Q2 24 | $4.2B | — | ||
| Q1 24 | $4.4B | $145.6M |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $268.1M | — |
| 自由现金流率自由现金流/营收 | 19.0% | — |
| 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× | — |
| 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EPAMVFS
| Q4 25 | $282.9M | — | ||
| Q3 25 | $294.7M | — | ||
| Q2 25 | $53.2M | — | ||
| Q1 25 | $24.2M | — | ||
| Q4 24 | $130.3M | — | ||
| Q3 24 | $242.0M | — | ||
| Q2 24 | $57.0M | — | ||
| Q1 24 | $129.9M | — |
自由现金流EPAMVFS
| Q4 25 | $268.1M | — | ||
| Q3 25 | $286.4M | — | ||
| Q2 25 | $43.4M | — | ||
| Q1 25 | $14.8M | — | ||
| Q4 24 | $114.5M | — | ||
| Q3 24 | $237.0M | — | ||
| Q2 24 | $52.3M | — | ||
| Q1 24 | $123.2M | — |
自由现金流率EPAMVFS
| Q4 25 | 19.0% | — | ||
| Q3 25 | 20.5% | — | ||
| Q2 25 | 3.2% | — | ||
| Q1 25 | 1.1% | — | ||
| Q4 24 | 9.2% | — | ||
| Q3 24 | 20.3% | — | ||
| Q2 24 | 4.6% | — | ||
| Q1 24 | 10.6% | — |
资本支出强度EPAMVFS
| Q4 25 | 1.1% | — | ||
| Q3 25 | 0.6% | — | ||
| Q2 25 | 0.7% | — | ||
| Q1 25 | 0.7% | — | ||
| Q4 24 | 1.3% | — | ||
| Q3 24 | 0.4% | — | ||
| Q2 24 | 0.4% | — | ||
| Q1 24 | 0.6% | — |
现金转化率EPAMVFS
| Q4 25 | 2.59× | — | ||
| Q3 25 | 2.76× | — | ||
| Q2 25 | 0.60× | — | ||
| Q1 25 | 0.33× | — | ||
| Q4 24 | 1.26× | — | ||
| Q3 24 | 1.77× | — | ||
| Q2 24 | 0.58× | — | ||
| Q1 24 | 1.12× | — |
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
VFS
| Sales of vehicles | $662.9M | 92% |
| Sales of spare parts and components | $41.3M | 6% |
| Revenue from leasing activities | $12.3M | 2% |
| Finance income | $2.4M | 0% |
| Rendering of services | $1.2M | 0% |
