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ExlService Holdings, Inc.（EXLS）与PEGASYSTEMS INC（PEGA）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PEGASYSTEMS INC的1.3倍（$542.6M vs $430.0M），ExlService Holdings, Inc.净利率更高（11.1% vs 7.6%，领先3.5%），ExlService Holdings, Inc.同比增速更快（12.7% vs -9.6%），PEGASYSTEMS INC自由现金流更多（$206.5M vs $106.5M），过去两年ExlService Holdings, Inc.的营收复合增速更高（11.5% vs 10.7%）
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。
Pegasystems Inc.（简称Pega）是1983年成立的全球软件企业，总部位于美国马萨诸塞州沃尔瑟姆，1996年于纳斯达克上市，股票代码PEGA。公司主打低代码平台，面向企业客户提供工作流自动化、生成式AI驱动决策等相关解决方案。
EXLS vs PEGA — 直观对比
营收规模更大
EXLS
是对方的1.3倍
$430.0M
营收增速更快
EXLS
高出22.3%
-9.6%
净利率更高
EXLS
高出3.5%
7.6%
自由现金流更多
PEGA
多$100.0M
$106.5M
两年增速更快
EXLS
近两年复合增速
10.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $542.6M | $430.0M |
| 净利润 | $60.2M | $32.8M |
| 毛利率 | 38.6% | 75.2% |
| 营业利润率 | 14.4% | 8.6% |
| 净利率 | 11.1% | 7.6% |
| 营收同比 | 12.7% | -9.6% |
| 净利润同比 | 18.9% | — |
| 每股收益（稀释后） | $0.38 | $0.18 |
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EXLSPEGA
| Q1 26 | — | $430.0M | ||
| Q4 25 | $542.6M | $504.3M | ||
| Q3 25 | $529.6M | $381.4M | ||
| Q2 25 | $514.5M | $384.5M | ||
| Q1 25 | $501.0M | $475.6M | ||
| Q4 24 | $481.4M | $490.8M | ||
| Q3 24 | $472.1M | $325.1M | ||
| Q2 24 | $448.4M | $351.2M |
净利润EXLSPEGA
| Q1 26 | — | $32.8M | ||
| Q4 25 | $60.2M | $234.6M | ||
| Q3 25 | $58.2M | $43.4M | ||
| Q2 25 | $66.1M | $30.1M | ||
| Q1 25 | $66.6M | $85.4M | ||
| Q4 24 | $50.7M | $119.1M | ||
| Q3 24 | $53.0M | $-14.4M | ||
| Q2 24 | $45.8M | $6.6M |
毛利率EXLSPEGA
| Q1 26 | — | 75.2% | ||
| Q4 25 | 38.6% | 79.5% | ||
| Q3 25 | 38.5% | 72.2% | ||
| Q2 25 | 37.7% | 71.5% | ||
| Q1 25 | 38.6% | 78.5% | ||
| Q4 24 | 38.1% | 79.1% | ||
| Q3 24 | 37.8% | 70.2% | ||
| Q2 24 | 37.1% | 72.4% |
营业利润率EXLSPEGA
| Q1 26 | — | 8.6% | ||
| Q4 25 | 14.4% | 20.7% | ||
| Q3 25 | 14.4% | 3.8% | ||
| Q2 25 | 15.8% | 4.5% | ||
| Q1 25 | 15.7% | 26.7% | ||
| Q4 24 | 14.8% | 29.1% | ||
| Q3 24 | 14.7% | -3.6% | ||
| Q2 24 | 13.7% | 3.7% |
净利率EXLSPEGA
| Q1 26 | — | 7.6% | ||
| Q4 25 | 11.1% | 46.5% | ||
| Q3 25 | 11.0% | 11.4% | ||
| Q2 25 | 12.8% | 7.8% | ||
| Q1 25 | 13.3% | 18.0% | ||
| Q4 24 | 10.5% | 24.3% | ||
| Q3 24 | 11.2% | -4.4% | ||
| Q2 24 | 10.2% | 1.9% |
每股收益（稀释后）EXLSPEGA
| Q1 26 | — | $0.18 | ||
| Q4 25 | $0.38 | $0.81 | ||
| Q3 25 | $0.36 | $0.24 | ||
| Q2 25 | $0.40 | $0.17 | ||
| Q1 25 | $0.40 | $0.91 | ||
| Q4 24 | $0.31 | $1.35 | ||
| Q3 24 | $0.33 | $-0.17 | ||
| Q2 24 | $0.28 | $0.07 |
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 | $270.0M |
| 总债务越低越好 | $298.6M | — |
| 股东权益账面价值 | $912.7M | $705.9M |
| 总资产 | $1.7B | $1.6B |
| 负债/权益比越低杠杆越低 | 0.33× | — |
8季度趋势，按日历期对齐
现金及短期投资EXLSPEGA
| Q1 26 | — | $270.0M | ||
| Q4 25 | $328.4M | $425.8M | ||
| Q3 25 | $390.1M | $351.4M | ||
| Q2 25 | $353.3M | $411.6M | ||
| Q1 25 | $331.4M | $371.7M | ||
| Q4 24 | $340.6M | $740.0M | ||
| Q3 24 | $325.8M | $703.0M | ||
| Q2 24 | $276.1M | $665.1M |
总债务EXLSPEGA
| Q1 26 | — | — | ||
| Q4 25 | $298.6M | — | ||
| Q3 25 | $354.8M | — | ||
| Q2 25 | $260.0M | — | ||
| Q1 25 | $307.3M | — | ||
| Q4 24 | $288.5M | — | ||
| Q3 24 | $344.7M | — | ||
| Q2 24 | — | — |
股东权益EXLSPEGA
| Q1 26 | — | $705.9M | ||
| Q4 25 | $912.7M | $787.4M | ||
| Q3 25 | $952.4M | $596.8M | ||
| Q2 25 | $1.1B | $624.5M | ||
| Q1 25 | $1.0B | $611.3M | ||
| Q4 24 | $929.9M | $585.5M | ||
| Q3 24 | $907.6M | $473.0M | ||
| Q2 24 | $852.6M | $435.4M |
总资产EXLSPEGA
| Q1 26 | — | $1.6B | ||
| Q4 25 | $1.7B | $1.6B | ||
| Q3 25 | $1.7B | $1.3B | ||
| Q2 25 | $1.7B | $1.3B | ||
| Q1 25 | $1.7B | $1.3B | ||
| Q4 24 | $1.6B | $1.8B | ||
| Q3 24 | $1.6B | $1.6B | ||
| Q2 24 | $1.5B | $1.5B |
负债/权益比EXLSPEGA
| Q1 26 | — | — | ||
| Q4 25 | 0.33× | — | ||
| Q3 25 | 0.37× | — | ||
| Q2 25 | 0.25× | — | ||
| Q1 25 | 0.30× | — | ||
| Q4 24 | 0.31× | — | ||
| Q3 24 | 0.38× | — | ||
| 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 | $117.4M | — |
| 自由现金流经营现金流 - 资本支出 | $106.5M | $206.5M |
| 自由现金流率自由现金流/营收 | 19.6% | 48.0% |
| 资本支出强度资本支出/营收 | 2.0% | — |
| 现金转化率经营现金流/净利润 | 1.95× | — |
| 过去12个月自由现金流最近4个季度 | $298.1M | $494.9M |
8季度趋势，按日历期对齐
经营现金流EXLSPEGA
| Q1 26 | — | — | ||
| Q4 25 | $117.4M | $158.4M | ||
| Q3 25 | $120.7M | $56.3M | ||
| Q2 25 | $109.4M | $86.3M | ||
| Q1 25 | $3.2M | $204.2M | ||
| Q4 24 | $105.3M | $95.2M | ||
| Q3 24 | $110.1M | $30.5M | ||
| Q2 24 | $74.9M | $40.1M |
自由现金流EXLSPEGA
| Q1 26 | — | $206.5M | ||
| Q4 25 | $106.5M | $152.4M | ||
| Q3 25 | $106.4M | $51.8M | ||
| Q2 25 | $95.0M | $84.1M | ||
| Q1 25 | $-9.7M | $202.3M | ||
| Q4 24 | $95.3M | $92.4M | ||
| Q3 24 | $97.3M | $27.4M | ||
| Q2 24 | $62.8M | $38.8M |
自由现金流率EXLSPEGA
| Q1 26 | — | 48.0% | ||
| Q4 25 | 19.6% | 30.2% | ||
| Q3 25 | 20.1% | 13.6% | ||
| Q2 25 | 18.5% | 21.9% | ||
| Q1 25 | -1.9% | 42.5% | ||
| Q4 24 | 19.8% | 18.8% | ||
| Q3 24 | 20.6% | 8.4% | ||
| Q2 24 | 14.0% | 11.1% |
资本支出强度EXLSPEGA
| Q1 26 | — | — | ||
| Q4 25 | 2.0% | 1.2% | ||
| Q3 25 | 2.7% | 1.2% | ||
| Q2 25 | 2.8% | 0.6% | ||
| Q1 25 | 2.6% | 0.4% | ||
| Q4 24 | 2.1% | 0.6% | ||
| Q3 24 | 2.7% | 0.9% | ||
| Q2 24 | 2.7% | 0.4% |
现金转化率EXLSPEGA
| Q1 26 | — | — | ||
| Q4 25 | 1.95× | 0.68× | ||
| Q3 25 | 2.08× | 1.30× | ||
| Q2 25 | 1.66× | 2.87× | ||
| Q1 25 | 0.05× | 2.39× | ||
| Q4 24 | 2.08× | 0.80× | ||
| Q3 24 | 2.08× | — | ||
| Q2 24 | 1.63× | 6.06× |
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% |
PEGA
| Pega Cloud | $205.0M | 48% |
| Subscription license | $94.9M | 22% |
| Maintenance | $75.3M | 18% |
| Consulting | $54.8M | 13% |
