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ExlService Holdings, Inc.（EXLS）与PIPER SANDLER COMPANIES（PIPR）财务数据对比。点击上方公司名可切换其他公司
PIPER SANDLER COMPANIES的季度营收约是ExlService Holdings, Inc.的1.2倍（$667.0M vs $542.6M），PIPER SANDLER COMPANIES净利率更高（17.1% vs 11.1%，领先6.0%），PIPER SANDLER COMPANIES同比增速更快（37.4% vs 12.7%），过去两年PIPER SANDLER COMPANIES的营收复合增速更高（39.2% vs 11.5%）
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。
Piper Sandler是一家美国跨国投资银行及金融服务提供商，核心业务覆盖并购重组、财务重整、公开募股、公共财政、机构经纪、投资管理、证券研究等领域，通过旗下核心子公司Piper Sandler & Co.为企业、机构投资者及公共组织提供专业金融服务。
EXLS vs PIPR — 直观对比
营收规模更大
PIPR
是对方的1.2倍
$542.6M
营收增速更快
PIPR
高出24.7%
12.7%
净利率更高
PIPR
高出6.0%
11.1%
两年增速更快
PIPR
近两年复合增速
11.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $542.6M | $667.0M |
| 净利润 | $60.2M | $114.0M |
| 毛利率 | 38.6% | — |
| 营业利润率 | 14.4% | 28.3% |
| 净利率 | 11.1% | 17.1% |
| 营收同比 | 12.7% | 37.4% |
| 净利润同比 | 18.9% | 65.0% |
| 每股收益（稀释后） | $0.38 | $6.41 |
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EXLSPIPR
| Q4 25 | $542.6M | $667.0M | ||
| Q3 25 | $529.6M | $480.1M | ||
| Q2 25 | $514.5M | $398.6M | ||
| Q1 25 | $501.0M | $358.6M | ||
| Q4 24 | $481.4M | $485.4M | ||
| Q3 24 | $472.1M | $360.9M | ||
| Q2 24 | $448.4M | $340.8M | ||
| Q1 24 | $436.5M | $344.4M |
净利润EXLSPIPR
| Q4 25 | $60.2M | $114.0M | ||
| Q3 25 | $58.2M | $60.3M | ||
| Q2 25 | $66.1M | $42.2M | ||
| Q1 25 | $66.6M | $64.9M | ||
| Q4 24 | $50.7M | $69.1M | ||
| Q3 24 | $53.0M | $34.8M | ||
| Q2 24 | $45.8M | $34.8M | ||
| Q1 24 | $48.8M | $42.5M |
毛利率EXLSPIPR
| Q4 25 | 38.6% | — | ||
| Q3 25 | 38.5% | — | ||
| Q2 25 | 37.7% | — | ||
| Q1 25 | 38.6% | — | ||
| Q4 24 | 38.1% | — | ||
| Q3 24 | 37.8% | — | ||
| Q2 24 | 37.1% | — | ||
| Q1 24 | 37.4% | — |
营业利润率EXLSPIPR
| Q4 25 | 14.4% | 28.3% | ||
| Q3 25 | 14.4% | 22.4% | ||
| Q2 25 | 15.8% | 12.3% | ||
| Q1 25 | 15.7% | 8.2% | ||
| Q4 24 | 14.8% | 16.9% | ||
| Q3 24 | 14.7% | 15.4% | ||
| Q2 24 | 13.7% | 8.3% | ||
| Q1 24 | 14.1% | 15.2% |
净利率EXLSPIPR
| Q4 25 | 11.1% | 17.1% | ||
| Q3 25 | 11.0% | 12.6% | ||
| Q2 25 | 12.8% | 10.6% | ||
| Q1 25 | 13.3% | 18.1% | ||
| Q4 24 | 10.5% | 14.2% | ||
| Q3 24 | 11.2% | 9.6% | ||
| Q2 24 | 10.2% | 10.2% | ||
| Q1 24 | 11.2% | 12.3% |
每股收益（稀释后）EXLSPIPR
| Q4 25 | $0.38 | $6.41 | ||
| Q3 25 | $0.36 | $3.38 | ||
| Q2 25 | $0.40 | $2.38 | ||
| Q1 25 | $0.40 | $3.65 | ||
| Q4 24 | $0.31 | $3.88 | ||
| Q3 24 | $0.33 | $1.96 | ||
| Q2 24 | $0.28 | $1.97 | ||
| Q1 24 | $0.29 | $2.43 |
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 | — |
| 总债务越低越好 | $298.6M | — |
| 股东权益账面价值 | $912.7M | $1.4B |
| 总资产 | $1.7B | $2.6B |
| 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EXLSPIPR
| Q4 25 | $328.4M | — | ||
| Q3 25 | $390.1M | — | ||
| Q2 25 | $353.3M | — | ||
| Q1 25 | $331.4M | — | ||
| Q4 24 | $340.6M | — | ||
| Q3 24 | $325.8M | — | ||
| Q2 24 | $276.1M | — | ||
| Q1 24 | $246.2M | — |
总债务EXLSPIPR
| 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 | — | — | ||
| Q1 24 | — | — |
股东权益EXLSPIPR
| Q4 25 | $912.7M | $1.4B | ||
| Q3 25 | $952.4M | $1.3B | ||
| Q2 25 | $1.1B | $1.2B | ||
| Q1 25 | $1.0B | $1.2B | ||
| Q4 24 | $929.9M | $1.2B | ||
| Q3 24 | $907.6M | $1.2B | ||
| Q2 24 | $852.6M | $1.1B | ||
| Q1 24 | $803.3M | $1.1B |
总资产EXLSPIPR
| Q4 25 | $1.7B | $2.6B | ||
| Q3 25 | $1.7B | $2.2B | ||
| Q2 25 | $1.7B | $2.0B | ||
| Q1 25 | $1.7B | $1.8B | ||
| Q4 24 | $1.6B | $2.3B | ||
| Q3 24 | $1.6B | $2.0B | ||
| Q2 24 | $1.5B | $1.9B | ||
| Q1 24 | $1.4B | $1.8B |
负债/权益比EXLSPIPR
| 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 | — | — | ||
| 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 | $729.8M |
| 自由现金流经营现金流 - 资本支出 | $106.5M | — |
| 自由现金流率自由现金流/营收 | 19.6% | — |
| 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× | 6.40× |
| 过去12个月自由现金流最近4个季度 | $298.1M | — |
8季度趋势，按日历期对齐
经营现金流EXLSPIPR
| Q4 25 | $117.4M | $729.8M | ||
| Q3 25 | $120.7M | $31.9M | ||
| Q2 25 | $109.4M | $32.1M | ||
| Q1 25 | $3.2M | $-207.2M | ||
| Q4 24 | $105.3M | $163.8M | ||
| Q3 24 | $110.1M | $80.1M | ||
| Q2 24 | $74.9M | $266.5M | ||
| Q1 24 | $-21.9M | $-197.2M |
自由现金流EXLSPIPR
| Q4 25 | $106.5M | — | ||
| Q3 25 | $106.4M | — | ||
| Q2 25 | $95.0M | — | ||
| Q1 25 | $-9.7M | — | ||
| Q4 24 | $95.3M | — | ||
| Q3 24 | $97.3M | — | ||
| Q2 24 | $62.8M | — | ||
| Q1 24 | $-33.1M | — |
自由现金流率EXLSPIPR
| Q4 25 | 19.6% | — | ||
| Q3 25 | 20.1% | — | ||
| Q2 25 | 18.5% | — | ||
| Q1 25 | -1.9% | — | ||
| Q4 24 | 19.8% | — | ||
| Q3 24 | 20.6% | — | ||
| Q2 24 | 14.0% | — | ||
| Q1 24 | -7.6% | — |
资本支出强度EXLSPIPR
| Q4 25 | 2.0% | — | ||
| Q3 25 | 2.7% | — | ||
| Q2 25 | 2.8% | — | ||
| Q1 25 | 2.6% | — | ||
| Q4 24 | 2.1% | — | ||
| Q3 24 | 2.7% | — | ||
| Q2 24 | 2.7% | — | ||
| Q1 24 | 2.6% | — |
现金转化率EXLSPIPR
| Q4 25 | 1.95× | 6.40× | ||
| Q3 25 | 2.08× | 0.53× | ||
| Q2 25 | 1.66× | 0.76× | ||
| Q1 25 | 0.05× | -3.19× | ||
| Q4 24 | 2.08× | 2.37× | ||
| Q3 24 | 2.08× | 2.30× | ||
| Q2 24 | 1.63× | 7.66× | ||
| Q1 24 | -0.45× | -4.64× |
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% |
PIPR
| Advisory Services | $402.6M | 60% |
| Equities Financing | $66.7M | 10% |
| Equity Salesand Trading | $64.2M | 10% |
| Fixed Income Salesand Trading | $47.9M | 7% |
| Other | $46.7M | 7% |
| Debt Financing | $38.9M | 6% |
