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ExlService Holdings, Inc.（EXLS）与PTC Inc.（PTC）财务数据对比。点击上方公司名可切换其他公司
PTC Inc.的季度营收约是ExlService Holdings, Inc.的1.3倍（$685.8M vs $542.6M），PTC Inc.净利率更高（24.3% vs 11.1%，领先13.2%），PTC Inc.同比增速更快（21.4% vs 12.7%），PTC Inc.自由现金流更多（$267.4M vs $106.5M），过去两年ExlService Holdings, Inc.的营收复合增速更高（11.5% vs 6.6%）
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。
PTC是1985年成立的美国计算机软件与服务企业，总部位于马萨诸塞州波士顿。公司1988年率先推出参数化关联特征驱动的三维CAD建模软件，1998年发布基于互联网的产品生命周期管理（PLM）产品，目前面向合作伙伴与开发者提供物联网、增强现实（AR）平台及相关产品服务。
EXLS vs PTC — 直观对比
营收规模更大
PTC
是对方的1.3倍
$542.6M
营收增速更快
PTC
高出8.6%
12.7%
净利率更高
PTC
高出13.2%
11.1%
自由现金流更多
PTC
多$160.9M
$106.5M
两年增速更快
EXLS
近两年复合增速
6.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $542.6M | $685.8M |
| 净利润 | $60.2M | $166.5M |
| 毛利率 | 38.6% | 82.8% |
| 营业利润率 | 14.4% | 32.2% |
| 净利率 | 11.1% | 24.3% |
| 营收同比 | 12.7% | 21.4% |
| 净利润同比 | 18.9% | 102.5% |
| 每股收益（稀释后） | $0.38 | $1.39 |
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EXLSPTC
| Q4 25 | $542.6M | $685.8M | ||
| Q3 25 | $529.6M | $893.8M | ||
| Q2 25 | $514.5M | $643.9M | ||
| Q1 25 | $501.0M | $636.4M | ||
| Q4 24 | $481.4M | $565.1M | ||
| Q3 24 | $472.1M | $626.5M | ||
| Q2 24 | $448.4M | $518.6M | ||
| Q1 24 | $436.5M | $603.1M |
净利润EXLSPTC
| Q4 25 | $60.2M | $166.5M | ||
| Q3 25 | $58.2M | $347.8M | ||
| Q2 25 | $66.1M | $141.3M | ||
| Q1 25 | $66.6M | $162.6M | ||
| Q4 24 | $50.7M | $82.2M | ||
| Q3 24 | $53.0M | $126.5M | ||
| Q2 24 | $45.8M | $69.0M | ||
| Q1 24 | $48.8M | $114.4M |
毛利率EXLSPTC
| Q4 25 | 38.6% | 82.8% | ||
| Q3 25 | 38.5% | 86.9% | ||
| Q2 25 | 37.7% | 82.9% | ||
| Q1 25 | 38.6% | 83.3% | ||
| Q4 24 | 38.1% | 80.2% | ||
| Q3 24 | 37.8% | 82.0% | ||
| Q2 24 | 37.1% | 78.4% | ||
| Q1 24 | 37.4% | 81.8% |
营业利润率EXLSPTC
| Q4 25 | 14.4% | 32.2% | ||
| Q3 25 | 14.4% | 48.5% | ||
| Q2 25 | 15.8% | 32.6% | ||
| Q1 25 | 15.7% | 35.1% | ||
| Q4 24 | 14.8% | 20.4% | ||
| Q3 24 | 14.7% | 31.0% | ||
| Q2 24 | 13.7% | 18.5% | ||
| Q1 24 | 14.1% | 29.8% |
净利率EXLSPTC
| Q4 25 | 11.1% | 24.3% | ||
| Q3 25 | 11.0% | 38.9% | ||
| Q2 25 | 12.8% | 21.9% | ||
| Q1 25 | 13.3% | 25.6% | ||
| Q4 24 | 10.5% | 14.6% | ||
| Q3 24 | 11.2% | 20.2% | ||
| Q2 24 | 10.2% | 13.3% | ||
| Q1 24 | 11.2% | 19.0% |
每股收益（稀释后）EXLSPTC
| Q4 25 | $0.38 | $1.39 | ||
| Q3 25 | $0.36 | $2.88 | ||
| Q2 25 | $0.40 | $1.17 | ||
| Q1 25 | $0.40 | $1.35 | ||
| Q4 24 | $0.31 | $0.68 | ||
| Q3 24 | $0.33 | $1.05 | ||
| Q2 24 | $0.28 | $0.57 | ||
| Q1 24 | $0.29 | $0.95 |
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 | $209.7M |
| 总债务越低越好 | $298.6M | $1.2B |
| 股东权益账面价值 | $912.7M | $3.8B |
| 总资产 | $1.7B | $6.4B |
| 负债/权益比越低杠杆越低 | 0.33× | 0.31× |
8季度趋势，按日历期对齐
现金及短期投资EXLSPTC
| Q4 25 | $328.4M | $209.7M | ||
| Q3 25 | $390.1M | $184.4M | ||
| Q2 25 | $353.3M | $199.3M | ||
| Q1 25 | $331.4M | $235.2M | ||
| Q4 24 | $340.6M | $196.3M | ||
| Q3 24 | $325.8M | $265.8M | ||
| Q2 24 | $276.1M | $247.7M | ||
| Q1 24 | $246.2M | $249.0M |
总债务EXLSPTC
| Q4 25 | $298.6M | $1.2B | ||
| Q3 25 | $354.8M | $1.2B | ||
| Q2 25 | $260.0M | $1.2B | ||
| Q1 25 | $307.3M | $1.4B | ||
| Q4 24 | $288.5M | $1.0B | ||
| Q3 24 | $344.7M | $1.2B | ||
| Q2 24 | — | $1.3B | ||
| Q1 24 | — | $1.5B |
股东权益EXLSPTC
| Q4 25 | $912.7M | $3.8B | ||
| Q3 25 | $952.4M | $3.8B | ||
| Q2 25 | $1.1B | $3.5B | ||
| Q1 25 | $1.0B | $3.4B | ||
| Q4 24 | $929.9M | $3.2B | ||
| Q3 24 | $907.6M | $3.2B | ||
| Q2 24 | $852.6M | $3.0B | ||
| Q1 24 | $803.3M | $2.9B |
总资产EXLSPTC
| Q4 25 | $1.7B | $6.4B | ||
| Q3 25 | $1.7B | $6.6B | ||
| Q2 25 | $1.7B | $6.2B | ||
| Q1 25 | $1.7B | $6.2B | ||
| Q4 24 | $1.6B | $6.1B | ||
| Q3 24 | $1.6B | $6.4B | ||
| Q2 24 | $1.5B | $6.1B | ||
| Q1 24 | $1.4B | $6.2B |
负债/权益比EXLSPTC
| Q4 25 | 0.33× | 0.31× | ||
| Q3 25 | 0.37× | 0.31× | ||
| Q2 25 | 0.25× | 0.34× | ||
| Q1 25 | 0.30× | 0.40× | ||
| Q4 24 | 0.31× | 0.32× | ||
| Q3 24 | 0.38× | 0.38× | ||
| Q2 24 | — | 0.43× | ||
| Q1 24 | — | 0.51× |
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 | $269.7M |
| 自由现金流经营现金流 - 资本支出 | $106.5M | $267.4M |
| 自由现金流率自由现金流/营收 | 19.6% | 39.0% |
| 资本支出强度资本支出/营收 | 2.0% | 0.3% |
| 现金转化率经营现金流/净利润 | 1.95× | 1.62× |
| 过去12个月自由现金流最近4个季度 | $298.1M | $888.4M |
8季度趋势，按日历期对齐
经营现金流EXLSPTC
| Q4 25 | $117.4M | $269.7M | ||
| Q3 25 | $120.7M | $104.0M | ||
| Q2 25 | $109.4M | $243.9M | ||
| Q1 25 | $3.2M | $281.3M | ||
| Q4 24 | $105.3M | $238.4M | ||
| Q3 24 | $110.1M | $98.1M | ||
| Q2 24 | $74.9M | $213.8M | ||
| Q1 24 | $-21.9M | $250.7M |
自由现金流EXLSPTC
| Q4 25 | $106.5M | $267.4M | ||
| Q3 25 | $106.4M | $100.5M | ||
| Q2 25 | $95.0M | $242.0M | ||
| Q1 25 | $-9.7M | $278.5M | ||
| Q4 24 | $95.3M | $235.7M | ||
| Q3 24 | $97.3M | $93.6M | ||
| Q2 24 | $62.8M | $212.2M | ||
| Q1 24 | $-33.1M | $247.1M |
自由现金流率EXLSPTC
| Q4 25 | 19.6% | 39.0% | ||
| Q3 25 | 20.1% | 11.2% | ||
| Q2 25 | 18.5% | 37.6% | ||
| Q1 25 | -1.9% | 43.8% | ||
| Q4 24 | 19.8% | 41.7% | ||
| Q3 24 | 20.6% | 14.9% | ||
| Q2 24 | 14.0% | 40.9% | ||
| Q1 24 | -7.6% | 41.0% |
资本支出强度EXLSPTC
| Q4 25 | 2.0% | 0.3% | ||
| Q3 25 | 2.7% | 0.4% | ||
| Q2 25 | 2.8% | 0.3% | ||
| Q1 25 | 2.6% | 0.4% | ||
| Q4 24 | 2.1% | 0.5% | ||
| Q3 24 | 2.7% | 0.7% | ||
| Q2 24 | 2.7% | 0.3% | ||
| Q1 24 | 2.6% | 0.6% |
现金转化率EXLSPTC
| Q4 25 | 1.95× | 1.62× | ||
| Q3 25 | 2.08× | 0.30× | ||
| Q2 25 | 1.66× | 1.73× | ||
| Q1 25 | 0.05× | 1.73× | ||
| Q4 24 | 2.08× | 2.90× | ||
| Q3 24 | 2.08× | 0.78× | ||
| Q2 24 | 1.63× | 3.10× | ||
| Q1 24 | -0.45× | 2.19× |
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% |
PTC
| Support And Cloud Services | $393.3M | 57% |
| License | $269.7M | 39% |
| Technology Service | $22.9M | 3% |
| Perpetual License | $5.6M | 1% |
