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ExlService Holdings, Inc.（EXLS）与Paylocity Holding Corp（PCTY）财务数据对比。点击上方公司名可切换其他公司
ExlService Holdings, Inc.的季度营收约是Paylocity Holding Corp的1.4倍（$542.6M vs $387.0M），Paylocity Holding Corp净利率更高（13.0% vs 11.1%，领先1.9%），ExlService Holdings, Inc.同比增速更快（12.7% vs 11.3%），Paylocity Holding Corp自由现金流更多（$113.6M vs $106.5M），过去两年ExlService Holdings, Inc.的营收复合增速更高（11.5% vs 2.7%）
ExlService Holdings Inc.是全球知名的分析与数字解决方案服务商，服务覆盖保险、医疗健康、银行金融服务、媒体、零售等多个行业，总部位于纽约，在美国、欧洲、亚洲、拉美、澳大利亚、南非等地拥有超过5.4万名专业从业人员。
Paylocity Holding Corp是美国领先的云端人力资源管理服务商，核心产品覆盖薪资核算、支出管理及人力资本管理（HCM）类SaaS软件，可帮助不同规模的企业客户优化人力与财务相关运营流程，有效提升管理效率、降低运营成本。
EXLS vs PCTY — 直观对比
营收规模更大
EXLS
是对方的1.4倍
$387.0M
营收增速更快
EXLS
高出1.4%
11.3%
净利率更高
PCTY
高出1.9%
11.1%
自由现金流更多
PCTY
多$7.1M
$106.5M
两年增速更快
EXLS
近两年复合增速
2.7%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $542.6M | $387.0M |
| 净利润 | $60.2M | $50.2M |
| 毛利率 | 38.6% | 72.9% |
| 营业利润率 | 14.4% | 18.2% |
| 净利率 | 11.1% | 13.0% |
| 营收同比 | 12.7% | 11.3% |
| 净利润同比 | 18.9% | 34.0% |
| 每股收益（稀释后） | $0.38 | $0.92 |
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EXLSPCTY
| Q4 25 | $542.6M | $387.0M | ||
| Q3 25 | $529.6M | $378.9M | ||
| Q2 25 | $514.5M | $369.9M | ||
| Q1 25 | $501.0M | $421.1M | ||
| Q4 24 | $481.4M | $347.7M | ||
| Q3 24 | $472.1M | $333.1M | ||
| Q2 24 | $448.4M | $324.7M | ||
| Q1 24 | $436.5M | $366.8M |
净利润EXLSPCTY
| Q4 25 | $60.2M | $50.2M | ||
| Q3 25 | $58.2M | $48.0M | ||
| Q2 25 | $66.1M | $48.6M | ||
| Q1 25 | $66.6M | $91.5M | ||
| Q4 24 | $50.7M | $37.5M | ||
| Q3 24 | $53.0M | $49.6M | ||
| Q2 24 | $45.8M | $48.8M | ||
| Q1 24 | $48.8M | $85.3M |
毛利率EXLSPCTY
| Q4 25 | 38.6% | 72.9% | ||
| Q3 25 | 38.5% | 73.9% | ||
| Q2 25 | 37.7% | 73.5% | ||
| Q1 25 | 38.6% | 77.1% | ||
| Q4 24 | 38.1% | 72.6% | ||
| Q3 24 | 37.8% | 74.4% | ||
| Q2 24 | 37.1% | 74.0% | ||
| Q1 24 | 37.4% | 77.8% |
营业利润率EXLSPCTY
| Q4 25 | 14.4% | 18.2% | ||
| Q3 25 | 14.4% | 19.6% | ||
| Q2 25 | 15.8% | 17.9% | ||
| Q1 25 | 15.7% | 30.2% | ||
| Q4 24 | 14.8% | 13.4% | ||
| Q3 24 | 14.7% | 19.3% | ||
| Q2 24 | 13.7% | 19.4% | ||
| Q1 24 | 14.1% | 29.0% |
净利率EXLSPCTY
| Q4 25 | 11.1% | 13.0% | ||
| Q3 25 | 11.0% | 12.7% | ||
| Q2 25 | 12.8% | 13.1% | ||
| Q1 25 | 13.3% | 21.7% | ||
| Q4 24 | 10.5% | 10.8% | ||
| Q3 24 | 11.2% | 14.9% | ||
| Q2 24 | 10.2% | 15.0% | ||
| Q1 24 | 11.2% | 23.3% |
每股收益（稀释后）EXLSPCTY
| Q4 25 | $0.38 | $0.92 | ||
| Q3 25 | $0.36 | $0.86 | ||
| Q2 25 | $0.40 | $0.87 | ||
| Q1 25 | $0.40 | $1.61 | ||
| Q4 24 | $0.31 | $0.66 | ||
| Q3 24 | $0.33 | $0.88 | ||
| Q2 24 | $0.28 | $0.85 | ||
| Q1 24 | $0.29 | $1.50 |
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 | $328.4M | $162.5M |
| 总债务越低越好 | $298.6M | $81.3M |
| 股东权益账面价值 | $912.7M | $1.1B |
| 总资产 | $1.7B | $7.0B |
| 负债/权益比越低杠杆越低 | 0.33× | 0.07× |
8季度趋势，按日历期对齐
现金及短期投资EXLSPCTY
| Q4 25 | $328.4M | $162.5M | ||
| Q3 25 | $390.1M | $165.2M | ||
| Q2 25 | $353.3M | $398.1M | ||
| Q1 25 | $331.4M | $477.8M | ||
| Q4 24 | $340.6M | $482.4M | ||
| Q3 24 | $325.8M | $778.5M | ||
| Q2 24 | $276.1M | $401.8M | ||
| Q1 24 | $246.2M | $492.7M |
总债务EXLSPCTY
| Q4 25 | $298.6M | $81.3M | ||
| Q3 25 | $354.8M | $81.3M | ||
| Q2 25 | $260.0M | $162.5M | ||
| Q1 25 | $307.3M | $243.8M | ||
| Q4 24 | $288.5M | $325.0M | ||
| Q3 24 | $344.7M | $325.0M | ||
| Q2 24 | — | $0 | ||
| Q1 24 | — | — |
股东权益EXLSPCTY
| Q4 25 | $912.7M | $1.1B | ||
| Q3 25 | $952.4M | $1.1B | ||
| Q2 25 | $1.1B | $1.2B | ||
| Q1 25 | $1.0B | $1.2B | ||
| Q4 24 | $929.9M | $1.2B | ||
| Q3 24 | $907.6M | $1.1B | ||
| Q2 24 | $852.6M | $1.0B | ||
| Q1 24 | $803.3M | $1.1B |
总资产EXLSPCTY
| Q4 25 | $1.7B | $7.0B | ||
| Q3 25 | $1.7B | $4.2B | ||
| Q2 25 | $1.7B | $4.4B | ||
| Q1 25 | $1.7B | $5.2B | ||
| Q4 24 | $1.6B | $5.3B | ||
| Q3 24 | $1.6B | $4.0B | ||
| Q2 24 | $1.5B | $4.2B | ||
| Q1 24 | $1.4B | $5.0B |
负债/权益比EXLSPCTY
| Q4 25 | 0.33× | 0.07× | ||
| Q3 25 | 0.37× | 0.07× | ||
| Q2 25 | 0.25× | 0.13× | ||
| Q1 25 | 0.30× | 0.20× | ||
| Q4 24 | 0.31× | 0.28× | ||
| Q3 24 | 0.38× | 0.29× | ||
| Q2 24 | — | 0.00× | ||
| Q1 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 | $117.4M | $117.0M |
| 自由现金流经营现金流 - 资本支出 | $106.5M | $113.6M |
| 自由现金流率自由现金流/营收 | 19.6% | 29.4% |
| 资本支出强度资本支出/营收 | 2.0% | 0.9% |
| 现金转化率经营现金流/净利润 | 1.95× | 2.33× |
| 过去12个月自由现金流最近4个季度 | $298.1M | $461.1M |
8季度趋势，按日历期对齐
经营现金流EXLSPCTY
| Q4 25 | $117.4M | $117.0M | ||
| Q3 25 | $120.7M | $86.5M | ||
| Q2 25 | $109.4M | $86.6M | ||
| Q1 25 | $3.2M | $186.0M | ||
| Q4 24 | $105.3M | $54.2M | ||
| Q3 24 | $110.1M | $91.5M | ||
| Q2 24 | $74.9M | $79.9M | ||
| Q1 24 | $-21.9M | $167.5M |
自由现金流EXLSPCTY
| Q4 25 | $106.5M | $113.6M | ||
| Q3 25 | $106.4M | $82.7M | ||
| Q2 25 | $95.0M | $81.1M | ||
| Q1 25 | $-9.7M | $183.7M | ||
| Q4 24 | $95.3M | $51.2M | ||
| Q3 24 | $97.3M | $89.1M | ||
| Q2 24 | $62.8M | $73.6M | ||
| Q1 24 | $-33.1M | $162.0M |
自由现金流率EXLSPCTY
| Q4 25 | 19.6% | 29.4% | ||
| Q3 25 | 20.1% | 21.8% | ||
| Q2 25 | 18.5% | 21.9% | ||
| Q1 25 | -1.9% | 43.6% | ||
| Q4 24 | 19.8% | 14.7% | ||
| Q3 24 | 20.6% | 26.8% | ||
| Q2 24 | 14.0% | 22.7% | ||
| Q1 24 | -7.6% | 44.2% |
资本支出强度EXLSPCTY
| Q4 25 | 2.0% | 0.9% | ||
| Q3 25 | 2.7% | 1.0% | ||
| Q2 25 | 2.8% | 1.5% | ||
| Q1 25 | 2.6% | 0.5% | ||
| Q4 24 | 2.1% | 0.9% | ||
| Q3 24 | 2.7% | 0.7% | ||
| Q2 24 | 2.7% | 1.9% | ||
| Q1 24 | 2.6% | 1.5% |
现金转化率EXLSPCTY
| Q4 25 | 1.95× | 2.33× | ||
| Q3 25 | 2.08× | 1.80× | ||
| Q2 25 | 1.66× | 1.78× | ||
| Q1 25 | 0.05× | 2.03× | ||
| Q4 24 | 2.08× | 1.45× | ||
| Q3 24 | 2.08× | 1.84× | ||
| Q2 24 | 1.63× | 1.64× | ||
| Q1 24 | -0.45× | 1.96× |
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
EXLS
| Insurance | $185.8M | 34% |
| Healthcare And Life Sciences | $142.2M | 26% |
| Banking Capital Markets And Diversified Industries | $122.6M | 23% |
| International Growth Markets | $92.0M | 17% |
PCTY
| Recurring Fees | $370.1M | 96% |
| Implementation Services And Other | $16.9M | 4% |
