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伊萨（ESAB）与SCANSOURCE, INC.（SCSC）财务数据对比。点击上方公司名可切换其他公司
SCANSOURCE, INC.的季度营收约是伊萨的1.1倍（$766.5M vs $727.8M），伊萨净利率更高（7.5% vs 2.2%，领先5.4%），伊萨同比增速更快（8.5% vs 2.5%），伊萨自由现金流更多（$70.3M vs $28.9M），过去两年伊萨的营收复合增速更高（2.8% vs 0.9%）
ESAB（全称Elektriska Svetsnings-Aktiebolaget）是一家美国与瑞典合资的跨国工业企业，主营焊接、切割设备及配套耗材的研发、生产与销售，为全球制造业、基建等多领域客户提供专业可靠的工业解决方案，在全球工业市场拥有较高知名度。
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。
ESAB vs SCSC — 直观对比
营收规模更大
SCSC
是对方的1.1倍
$727.8M
营收增速更快
ESAB
高出6.0%
2.5%
净利率更高
ESAB
高出5.4%
2.2%
自由现金流更多
ESAB
多$41.4M
$28.9M
两年增速更快
ESAB
近两年复合增速
0.9%
损益表 — Q3 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $727.8M | $766.5M |
| 净利润 | $54.8M | $16.5M |
| 毛利率 | 37.0% | 13.4% |
| 营业利润率 | 14.6% | 2.3% |
| 净利率 | 7.5% | 2.2% |
| 营收同比 | 8.5% | 2.5% |
| 净利润同比 | 2.1% | -3.3% |
| 每股收益（稀释后） | $0.90 | $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ESABSCSC
| Q4 25 | $727.8M | $766.5M | ||
| Q3 25 | $715.6M | $739.6M | ||
| Q2 25 | $678.1M | $812.9M | ||
| Q1 25 | — | $704.8M | ||
| Q4 24 | $670.8M | $747.5M | ||
| Q3 24 | $673.3M | $775.6M | ||
| Q2 24 | $707.1M | $746.1M | ||
| Q1 24 | $689.7M | $752.6M |
净利润ESABSCSC
| Q4 25 | $54.8M | $16.5M | ||
| Q3 25 | $66.9M | $19.9M | ||
| Q2 25 | $67.4M | $20.1M | ||
| Q1 25 | — | $17.4M | ||
| Q4 24 | $53.7M | $17.1M | ||
| Q3 24 | $68.2M | $17.0M | ||
| Q2 24 | $82.9M | $16.1M | ||
| Q1 24 | $60.0M | $12.8M |
毛利率ESABSCSC
| Q4 25 | 37.0% | 13.4% | ||
| Q3 25 | 37.2% | 14.5% | ||
| Q2 25 | 37.6% | 12.9% | ||
| Q1 25 | — | 14.2% | ||
| Q4 24 | 38.5% | 13.6% | ||
| Q3 24 | 37.7% | 13.1% | ||
| Q2 24 | 38.2% | 13.0% | ||
| Q1 24 | 37.0% | 12.6% |
营业利润率ESABSCSC
| Q4 25 | 14.6% | 2.3% | ||
| Q3 25 | 15.2% | 3.5% | ||
| Q2 25 | 16.2% | 3.3% | ||
| Q1 25 | — | 3.2% | ||
| Q4 24 | 16.6% | 2.5% | ||
| Q3 24 | 15.7% | 2.3% | ||
| Q2 24 | 16.9% | 2.9% | ||
| Q1 24 | 16.0% | 2.3% |
净利率ESABSCSC
| Q4 25 | 7.5% | 2.2% | ||
| Q3 25 | 9.3% | 2.7% | ||
| Q2 25 | 9.9% | 2.5% | ||
| Q1 25 | — | 2.5% | ||
| Q4 24 | 8.0% | 2.3% | ||
| Q3 24 | 10.1% | 2.2% | ||
| Q2 24 | 11.7% | 2.2% | ||
| Q1 24 | 8.7% | 1.7% |
每股收益（稀释后）ESABSCSC
| Q4 25 | $0.90 | $0.75 | ||
| Q3 25 | $1.09 | $0.89 | ||
| Q2 25 | $1.10 | $0.87 | ||
| Q1 25 | — | $0.74 | ||
| Q4 24 | $0.87 | $0.70 | ||
| Q3 24 | $1.11 | $0.69 | ||
| Q2 24 | $1.35 | $0.66 | ||
| Q1 24 | $0.98 | $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 | $218.2M | $83.5M |
| 总债务越低越好 | $1.3B | — |
| 股东权益账面价值 | $2.1B | $910.9M |
| 总资产 | $4.9B | $1.7B |
| 负债/权益比越低杠杆越低 | 0.63× | — |
8季度趋势，按日历期对齐
现金及短期投资ESABSCSC
| Q4 25 | $218.2M | $83.5M | ||
| Q3 25 | $258.2M | $124.9M | ||
| Q2 25 | $291.3M | $126.2M | ||
| Q1 25 | — | $146.3M | ||
| Q4 24 | $249.4M | $110.5M | ||
| Q3 24 | $253.7M | $145.0M | ||
| Q2 24 | $228.5M | $185.5M | ||
| Q1 24 | $76.5M | $159.1M |
总债务ESABSCSC
| Q4 25 | $1.3B | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $992.8M | — |
股东权益ESABSCSC
| Q4 25 | $2.1B | $910.9M | ||
| Q3 25 | $2.1B | $914.0M | ||
| Q2 25 | $1.9B | $906.4M | ||
| Q1 25 | — | $901.7M | ||
| Q4 24 | $1.8B | $900.7M | ||
| Q3 24 | $1.8B | $920.9M | ||
| Q2 24 | $1.7B | $924.3M | ||
| Q1 24 | $1.6B | $944.1M |
总资产ESABSCSC
| Q4 25 | $4.9B | $1.7B | ||
| Q3 25 | $4.4B | $1.7B | ||
| Q2 25 | $4.2B | $1.8B | ||
| Q1 25 | — | $1.7B | ||
| Q4 24 | $4.0B | $1.7B | ||
| Q3 24 | $4.1B | $1.8B | ||
| Q2 24 | $4.0B | $1.8B | ||
| Q1 24 | $3.8B | $1.8B |
负债/权益比ESABSCSC
| Q4 25 | 0.63× | — | ||
| Q3 25 | 0.51× | — | ||
| Q2 25 | 0.55× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.60× | — | ||
| Q3 24 | 0.59× | — | ||
| Q2 24 | 0.63× | — | ||
| Q1 24 | 0.61× | — |
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 | $81.5M | $30.8M |
| 自由现金流经营现金流 - 资本支出 | $70.3M | $28.9M |
| 自由现金流率自由现金流/营收 | 9.7% | 3.8% |
| 资本支出强度资本支出/营收 | 1.5% | 0.3% |
| 现金转化率经营现金流/净利润 | 1.49× | 1.87× |
| 过去12个月自由现金流最近4个季度 | $238.0M | — |
8季度趋势，按日历期对齐
经营现金流ESABSCSC
| Q4 25 | $81.5M | $30.8M | ||
| Q3 25 | $46.6M | $23.2M | ||
| Q2 25 | $35.4M | — | ||
| Q1 25 | — | $66.1M | ||
| Q4 24 | $126.9M | $-6.2M | ||
| Q3 24 | $101.0M | $44.8M | ||
| Q2 24 | $83.0M | — | ||
| Q1 24 | $44.5M | $160.2M |
自由现金流ESABSCSC
| Q4 25 | $70.3M | $28.9M | ||
| Q3 25 | $37.4M | $20.8M | ||
| Q2 25 | $28.1M | — | ||
| Q1 25 | — | $64.6M | ||
| Q4 24 | $102.2M | $-8.2M | ||
| Q3 24 | $90.4M | $42.5M | ||
| Q2 24 | $74.0M | — | ||
| Q1 24 | $37.1M | $157.7M |
自由现金流率ESABSCSC
| Q4 25 | 9.7% | 3.8% | ||
| Q3 25 | 5.2% | 2.8% | ||
| Q2 25 | 4.1% | — | ||
| Q1 25 | — | 9.2% | ||
| Q4 24 | 15.2% | -1.1% | ||
| Q3 24 | 13.4% | 5.5% | ||
| Q2 24 | 10.5% | — | ||
| Q1 24 | 5.4% | 21.0% |
资本支出强度ESABSCSC
| Q4 25 | 1.5% | 0.3% | ||
| Q3 25 | 1.3% | 0.3% | ||
| Q2 25 | 1.1% | 0.3% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | 3.7% | 0.3% | ||
| Q3 24 | 1.6% | 0.3% | ||
| Q2 24 | 1.3% | 0.2% | ||
| Q1 24 | 1.1% | 0.3% |
现金转化率ESABSCSC
| Q4 25 | 1.49× | 1.87× | ||
| Q3 25 | 0.70× | 1.17× | ||
| Q2 25 | 0.53× | — | ||
| Q1 25 | — | 3.79× | ||
| Q4 24 | 2.36× | -0.36× | ||
| Q3 24 | 1.48× | 2.64× | ||
| Q2 24 | 1.00× | — | ||
| Q1 24 | 0.74× | 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
ESAB
| Consumable Products | $477.9M | 66% |
| Equipment Products | $249.9M | 34% |
SCSC
| Products And Services | $723.4M | 94% |
| Intelisys Advisory | $25.0M | 3% |
| Recurring Revenue | $18.2M | 2% |
