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Elastic N.V.（ESTC）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Elastic N.V.的1.8倍（$766.5M vs $423.5M），SCANSOURCE, INC.净利率更高（2.2% vs -12.1%，领先14.3%），Elastic N.V.同比增速更快（15.9% vs 2.5%），SCANSOURCE, INC.自由现金流更多（$28.9M vs $26.0M），过去两年Elastic N.V.的营收复合增速更高（13.6% vs 0.9%）
Elastic是荷美合资软件企业，2012年成立于荷兰阿姆斯特丹，运营总部分设于荷兰及美国加利福尼亚州旧金山市，于纽交所上市。公司提供企业级搜索、可观测性、网络安全平台，可支持用户实现大规模数据搜索分析、系统性能监测及异常检测。
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。
ESTC vs SCSC — 直观对比
营收规模更大
SCSC
是对方的1.8倍
$423.5M
营收增速更快
ESTC
高出13.4%
2.5%
净利率更高
SCSC
高出14.3%
-12.1%
自由现金流更多
SCSC
多$2.9M
$26.0M
两年增速更快
ESTC
近两年复合增速
0.9%
损益表 — Q2 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $423.5M | $766.5M |
| 净利润 | $-51.3M | $16.5M |
| 毛利率 | 75.9% | 13.4% |
| 营业利润率 | -1.9% | 2.3% |
| 净利率 | -12.1% | 2.2% |
| 营收同比 | 15.9% | 2.5% |
| 净利润同比 | -101.5% | -3.3% |
| 每股收益（稀释后） | $-0.48 | $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ESTCSCSC
| Q4 25 | $423.5M | $766.5M | ||
| Q3 25 | $415.3M | $739.6M | ||
| Q2 25 | $388.4M | $812.9M | ||
| Q1 25 | $382.1M | $704.8M | ||
| Q4 24 | $365.4M | $747.5M | ||
| Q3 24 | $347.4M | $775.6M | ||
| Q2 24 | $335.0M | $746.1M | ||
| Q1 24 | $328.0M | $752.6M |
净利润ESTCSCSC
| Q4 25 | $-51.3M | $16.5M | ||
| Q3 25 | $-24.6M | $19.9M | ||
| Q2 25 | $-16.4M | $20.1M | ||
| Q1 25 | $-17.1M | $17.4M | ||
| Q4 24 | $-25.4M | $17.1M | ||
| Q3 24 | $-49.2M | $17.0M | ||
| Q2 24 | $-41.1M | $16.1M | ||
| Q1 24 | $176.1M | $12.8M |
毛利率ESTCSCSC
| Q4 25 | 75.9% | 13.4% | ||
| Q3 25 | 76.7% | 14.5% | ||
| Q2 25 | 74.8% | 12.9% | ||
| Q1 25 | 74.6% | 14.2% | ||
| Q4 24 | 74.5% | 13.6% | ||
| Q3 24 | 73.6% | 13.1% | ||
| Q2 24 | 73.8% | 13.0% | ||
| Q1 24 | 74.2% | 12.6% |
营业利润率ESTCSCSC
| Q4 25 | -1.9% | 2.3% | ||
| Q3 25 | -2.3% | 3.5% | ||
| Q2 25 | -3.1% | 3.3% | ||
| Q1 25 | -1.2% | 3.2% | ||
| Q4 24 | -1.2% | 2.5% | ||
| Q3 24 | -9.7% | 2.3% | ||
| Q2 24 | -13.6% | 2.9% | ||
| Q1 24 | -8.1% | 2.3% |
净利率ESTCSCSC
| Q4 25 | -12.1% | 2.2% | ||
| Q3 25 | -5.9% | 2.7% | ||
| Q2 25 | -4.2% | 2.5% | ||
| Q1 25 | -4.5% | 2.5% | ||
| Q4 24 | -7.0% | 2.3% | ||
| Q3 24 | -14.2% | 2.2% | ||
| Q2 24 | -12.3% | 2.2% | ||
| Q1 24 | 53.7% | 1.7% |
每股收益（稀释后）ESTCSCSC
| Q4 25 | $-0.48 | $0.75 | ||
| Q3 25 | $-0.23 | $0.89 | ||
| Q2 25 | $-0.15 | $0.87 | ||
| Q1 25 | $-0.16 | $0.74 | ||
| Q4 24 | $-0.25 | $0.70 | ||
| Q3 24 | $-0.48 | $0.69 | ||
| Q2 24 | $-0.35 | $0.66 | ||
| Q1 24 | $1.69 | $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 | $1.4B | $83.5M |
| 总债务越低越好 | $570.3M | — |
| 股东权益账面价值 | $891.1M | $910.9M |
| 总资产 | $2.5B | $1.7B |
| 负债/权益比越低杠杆越低 | 0.64× | — |
8季度趋势，按日历期对齐
现金及短期投资ESTCSCSC
| Q4 25 | $1.4B | $83.5M | ||
| Q3 25 | $1.5B | $124.9M | ||
| Q2 25 | $1.4B | $126.2M | ||
| Q1 25 | $584.0M | $146.3M | ||
| Q4 24 | $658.5M | $110.5M | ||
| Q3 24 | $594.9M | $145.0M | ||
| Q2 24 | $1.1B | $185.5M | ||
| Q1 24 | $526.9M | $159.1M |
总债务ESTCSCSC
| Q4 25 | $570.3M | — | ||
| Q3 25 | $570.0M | — | ||
| Q2 25 | $569.7M | — | ||
| Q1 25 | $569.4M | — | ||
| Q4 24 | $569.2M | — | ||
| Q3 24 | $568.9M | — | ||
| Q2 24 | $568.6M | — | ||
| Q1 24 | $568.3M | — |
股东权益ESTCSCSC
| Q4 25 | $891.1M | $910.9M | ||
| Q3 25 | $971.4M | $914.0M | ||
| Q2 25 | $927.2M | $906.4M | ||
| Q1 25 | $859.1M | $901.7M | ||
| Q4 24 | $811.5M | $900.7M | ||
| Q3 24 | $759.4M | $920.9M | ||
| Q2 24 | $738.2M | $924.3M | ||
| Q1 24 | $707.8M | $944.1M |
总资产ESTCSCSC
| Q4 25 | $2.5B | $1.7B | ||
| Q3 25 | $2.5B | $1.7B | ||
| Q2 25 | $2.6B | $1.8B | ||
| Q1 25 | $2.3B | $1.7B | ||
| Q4 24 | $2.2B | $1.7B | ||
| Q3 24 | $2.2B | $1.8B | ||
| Q2 24 | $2.2B | $1.8B | ||
| Q1 24 | $2.1B | $1.8B |
负债/权益比ESTCSCSC
| Q4 25 | 0.64× | — | ||
| Q3 25 | 0.59× | — | ||
| Q2 25 | 0.61× | — | ||
| Q1 25 | 0.66× | — | ||
| Q4 24 | 0.70× | — | ||
| Q3 24 | 0.75× | — | ||
| Q2 24 | 0.77× | — | ||
| Q1 24 | 0.80× | — |
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 | $26.6M | $30.8M |
| 自由现金流经营现金流 - 资本支出 | $26.0M | $28.9M |
| 自由现金流率自由现金流/营收 | 6.1% | 3.8% |
| 资本支出强度资本支出/营收 | 0.1% | 0.3% |
| 现金转化率经营现金流/净利润 | — | 1.87× |
| 过去12个月自由现金流最近4个季度 | $302.3M | — |
8季度趋势，按日历期对齐
经营现金流ESTCSCSC
| Q4 25 | $26.6M | $30.8M | ||
| Q3 25 | $104.8M | $23.2M | ||
| Q2 25 | $87.0M | — | ||
| Q1 25 | $88.1M | $66.1M | ||
| Q4 24 | $38.4M | $-6.2M | ||
| Q3 24 | $52.8M | $44.8M | ||
| Q2 24 | $60.9M | — | ||
| Q1 24 | $52.4M | $160.2M |
自由现金流ESTCSCSC
| Q4 25 | $26.0M | $28.9M | ||
| Q3 25 | $104.2M | $20.8M | ||
| Q2 25 | $84.9M | — | ||
| Q1 25 | $87.3M | $64.6M | ||
| Q4 24 | $37.7M | $-8.2M | ||
| Q3 24 | $52.0M | $42.5M | ||
| Q2 24 | $60.1M | — | ||
| Q1 24 | $51.3M | $157.7M |
自由现金流率ESTCSCSC
| Q4 25 | 6.1% | 3.8% | ||
| Q3 25 | 25.1% | 2.8% | ||
| Q2 25 | 21.8% | — | ||
| Q1 25 | 22.8% | 9.2% | ||
| Q4 24 | 10.3% | -1.1% | ||
| Q3 24 | 15.0% | 5.5% | ||
| Q2 24 | 17.9% | — | ||
| Q1 24 | 15.6% | 21.0% |
资本支出强度ESTCSCSC
| Q4 25 | 0.1% | 0.3% | ||
| Q3 25 | 0.2% | 0.3% | ||
| Q2 25 | 0.5% | 0.3% | ||
| Q1 25 | 0.2% | 0.2% | ||
| Q4 24 | 0.2% | 0.3% | ||
| Q3 24 | 0.2% | 0.3% | ||
| Q2 24 | 0.3% | 0.2% | ||
| Q1 24 | 0.3% | 0.3% |
现金转化率ESTCSCSC
| Q4 25 | — | 1.87× | ||
| Q3 25 | — | 1.17× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 3.79× | ||
| Q4 24 | — | -0.36× | ||
| Q3 24 | — | 2.64× | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.30× | 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
ESTC
| Self Managed Subscription | $192.0M | 45% |
| Saa S Self Managed Annual | $156.9M | 37% |
| Saa S Self Managed Monthly | $48.8M | 12% |
| Professional Services | $25.8M | 6% |
SCSC
| Products And Services | $723.4M | 94% |
| Intelisys Advisory | $25.0M | 3% |
| Recurring Revenue | $18.2M | 2% |
