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ExlService Holdings, Inc.（EXLS）与UNITED THERAPEUTICS Corp（UTHR）财务数据对比。点击上方公司名可切换其他公司
UNITED THERAPEUTICS Corp的季度营收约是ExlService Holdings, Inc.的1.5倍（$790.2M vs $542.6M），UNITED THERAPEUTICS Corp净利率更高（46.1% vs 11.1%，领先35.0%），ExlService Holdings, Inc.同比增速更快（12.7% vs 7.4%），UNITED THERAPEUTICS Corp自由现金流更多（$173.3M vs $106.5M），过去两年ExlService Holdings, Inc.的营收复合增速更高（11.5% vs 8.0%）
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。
United Therapeutics是美国生物技术企业，专注开发包含异种移植在内的器官移植相关药物与技术，多款产品布局肺部疾病及器官制造赛道，双总部位于马里兰州银泉与北卡罗来纳州三角研究园，在美加多地设有研发及运营分支机构。
EXLS vs UTHR — 直观对比
营收规模更大
UTHR
是对方的1.5倍
$542.6M
营收增速更快
EXLS
高出5.3%
7.4%
净利率更高
UTHR
高出35.0%
11.1%
自由现金流更多
UTHR
多$66.8M
$106.5M
两年增速更快
EXLS
近两年复合增速
8.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $542.6M | $790.2M |
| 净利润 | $60.2M | $364.3M |
| 毛利率 | 38.6% | 86.9% |
| 营业利润率 | 14.4% | 45.1% |
| 净利率 | 11.1% | 46.1% |
| 营收同比 | 12.7% | 7.4% |
| 净利润同比 | 18.9% | 20.9% |
| 每股收益（稀释后） | $0.38 | $7.66 |
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EXLSUTHR
| Q4 25 | $542.6M | $790.2M | ||
| Q3 25 | $529.6M | $799.5M | ||
| Q2 25 | $514.5M | $798.6M | ||
| Q1 25 | $501.0M | $794.4M | ||
| Q4 24 | $481.4M | $735.9M | ||
| Q3 24 | $472.1M | $748.9M | ||
| Q2 24 | $448.4M | $714.9M | ||
| Q1 24 | $436.5M | $677.7M |
净利润EXLSUTHR
| Q4 25 | $60.2M | $364.3M | ||
| Q3 25 | $58.2M | $338.7M | ||
| Q2 25 | $66.1M | $309.5M | ||
| Q1 25 | $66.6M | $322.2M | ||
| Q4 24 | $50.7M | $301.3M | ||
| Q3 24 | $53.0M | $309.1M | ||
| Q2 24 | $45.8M | $278.1M | ||
| Q1 24 | $48.8M | $306.6M |
毛利率EXLSUTHR
| Q4 25 | 38.6% | 86.9% | ||
| Q3 25 | 38.5% | 87.4% | ||
| Q2 25 | 37.7% | 89.0% | ||
| Q1 25 | 38.6% | 88.4% | ||
| Q4 24 | 38.1% | 89.7% | ||
| Q3 24 | 37.8% | 88.9% | ||
| Q2 24 | 37.1% | 89.1% | ||
| Q1 24 | 37.4% | 89.2% |
营业利润率EXLSUTHR
| Q4 25 | 14.4% | 45.1% | ||
| Q3 25 | 14.4% | 48.6% | ||
| Q2 25 | 15.8% | 45.6% | ||
| Q1 25 | 15.7% | 48.2% | ||
| Q4 24 | 14.8% | 48.6% | ||
| Q3 24 | 14.7% | 45.8% | ||
| Q2 24 | 13.7% | 44.7% | ||
| Q1 24 | 14.1% | 52.6% |
净利率EXLSUTHR
| Q4 25 | 11.1% | 46.1% | ||
| Q3 25 | 11.0% | 42.4% | ||
| Q2 25 | 12.8% | 38.8% | ||
| Q1 25 | 13.3% | 40.6% | ||
| Q4 24 | 10.5% | 40.9% | ||
| Q3 24 | 11.2% | 41.3% | ||
| Q2 24 | 10.2% | 38.9% | ||
| Q1 24 | 11.2% | 45.2% |
每股收益（稀释后）EXLSUTHR
| Q4 25 | $0.38 | $7.66 | ||
| Q3 25 | $0.36 | $7.16 | ||
| Q2 25 | $0.40 | $6.41 | ||
| Q1 25 | $0.40 | $6.63 | ||
| Q4 24 | $0.31 | $6.23 | ||
| Q3 24 | $0.33 | $6.39 | ||
| Q2 24 | $0.28 | $5.85 | ||
| Q1 24 | $0.29 | $6.17 |
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 | $2.9B |
| 总债务越低越好 | $298.6M | — |
| 股东权益账面价值 | $912.7M | $7.1B |
| 总资产 | $1.7B | $7.9B |
| 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EXLSUTHR
| Q4 25 | $328.4M | $2.9B | ||
| Q3 25 | $390.1M | $2.8B | ||
| Q2 25 | $353.3M | $3.0B | ||
| Q1 25 | $331.4M | $3.3B | ||
| Q4 24 | $340.6M | $3.3B | ||
| Q3 24 | $325.8M | $3.3B | ||
| Q2 24 | $276.1M | $3.0B | ||
| Q1 24 | $246.2M | $2.7B |
总债务EXLSUTHR
| 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EXLSUTHR
| Q4 25 | $912.7M | $7.1B | ||
| Q3 25 | $952.4M | $6.6B | ||
| Q2 25 | $1.1B | $7.2B | ||
| Q1 25 | $1.0B | $6.8B | ||
| Q4 24 | $929.9M | $6.4B | ||
| Q3 24 | $907.6M | $6.1B | ||
| Q2 24 | $852.6M | $5.7B | ||
| Q1 24 | $803.3M | $5.3B |
总资产EXLSUTHR
| Q4 25 | $1.7B | $7.9B | ||
| Q3 25 | $1.7B | $7.4B | ||
| Q2 25 | $1.7B | $7.9B | ||
| Q1 25 | $1.7B | $7.7B | ||
| Q4 24 | $1.6B | $7.4B | ||
| Q3 24 | $1.6B | $7.1B | ||
| Q2 24 | $1.5B | $6.7B | ||
| Q1 24 | $1.4B | $6.5B |
负债/权益比EXLSUTHR
| 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 | $346.2M |
| 自由现金流经营现金流 - 资本支出 | $106.5M | $173.3M |
| 自由现金流率自由现金流/营收 | 19.6% | 21.9% |
| 资本支出强度资本支出/营收 | 2.0% | 21.9% |
| 现金转化率经营现金流/净利润 | 1.95× | 0.95× |
| 过去12个月自由现金流最近4个季度 | $298.1M | $1.0B |
8季度趋势，按日历期对齐
经营现金流EXLSUTHR
| Q4 25 | $117.4M | $346.2M | ||
| Q3 25 | $120.7M | $562.1M | ||
| Q2 25 | $109.4M | $191.7M | ||
| Q1 25 | $3.2M | $461.2M | ||
| Q4 24 | $105.3M | $341.2M | ||
| Q3 24 | $110.1M | $377.2M | ||
| Q2 24 | $74.9M | $232.2M | ||
| Q1 24 | $-21.9M | $376.5M |
自由现金流EXLSUTHR
| Q4 25 | $106.5M | $173.3M | ||
| Q3 25 | $106.4M | $351.6M | ||
| Q2 25 | $95.0M | $129.5M | ||
| Q1 25 | $-9.7M | $386.3M | ||
| Q4 24 | $95.3M | $254.5M | ||
| Q3 24 | $97.3M | $300.7M | ||
| Q2 24 | $62.8M | $187.1M | ||
| Q1 24 | $-33.1M | $338.3M |
自由现金流率EXLSUTHR
| Q4 25 | 19.6% | 21.9% | ||
| Q3 25 | 20.1% | 44.0% | ||
| Q2 25 | 18.5% | 16.2% | ||
| Q1 25 | -1.9% | 48.6% | ||
| Q4 24 | 19.8% | 34.6% | ||
| Q3 24 | 20.6% | 40.2% | ||
| Q2 24 | 14.0% | 26.2% | ||
| Q1 24 | -7.6% | 49.9% |
资本支出强度EXLSUTHR
| Q4 25 | 2.0% | 21.9% | ||
| Q3 25 | 2.7% | 26.3% | ||
| Q2 25 | 2.8% | 7.8% | ||
| Q1 25 | 2.6% | 9.4% | ||
| Q4 24 | 2.1% | 11.8% | ||
| Q3 24 | 2.7% | 10.2% | ||
| Q2 24 | 2.7% | 6.3% | ||
| Q1 24 | 2.6% | 5.6% |
现金转化率EXLSUTHR
| Q4 25 | 1.95× | 0.95× | ||
| Q3 25 | 2.08× | 1.66× | ||
| Q2 25 | 1.66× | 0.62× | ||
| Q1 25 | 0.05× | 1.43× | ||
| Q4 24 | 2.08× | 1.13× | ||
| Q3 24 | 2.08× | 1.22× | ||
| Q2 24 | 1.63× | 0.83× | ||
| Q1 24 | -0.45× | 1.23× |
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% |
UTHR
| Tyvaso DPI | $338.6M | 43% |
| Remodulin | $128.0M | 16% |
| Nebulized Tyvaso | $125.7M | 16% |
| Orenitram | $121.2M | 15% |
| Unituxin | $62.3M | 8% |
| Adcirca | $7.8M | 1% |
| Other | $6.6M | 1% |
