vs
FIVE BELOW, INC（FIVE）与明晟（MSCI）财务数据对比。点击上方公司名可切换其他公司
FIVE BELOW, INC的季度营收约是明晟的1.3倍（$1.0B vs $822.5M），明晟净利率更高（34.6% vs 3.5%，领先31.1%），FIVE BELOW, INC同比增速更快（23.1% vs 10.6%），明晟自由现金流更多（$488.7M vs $-133.2M），过去两年明晟的营收复合增速更高（10.0% vs -11.9%）
Five Below是美国特色折扣礼品连锁品牌，2002年成立，总部位于宾夕法尼亚州费城，主要面向青少年消费群体，旗下绝大多数商品定价不超过5美元，另有少量精选商品最高定价40美元，目前在全美拥有超过1850家线下门店。
MSCI（明晟）是总部位于美国纽约的金融服务企业，为全球市场提供股票、固定收益、房地产指数、多资产组合分析工具及ESG、气候金融相关产品，旗下运营MSCI全球指数、MSCI新兴市场指数、MSCI全球所有国家（ACWI）指数等多款知名指数产品。
FIVE vs MSCI — 直观对比
营收规模更大
FIVE
是对方的1.3倍
$822.5M
营收增速更快
FIVE
高出12.4%
10.6%
净利率更高
MSCI
高出31.1%
3.5%
自由现金流更多
MSCI
多$621.8M
$-133.2M
两年增速更快
MSCI
近两年复合增速
-11.9%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $822.5M |
| 净利润 | $36.5M | $284.7M |
| 毛利率 | 33.8% | — |
| 营业利润率 | 4.2% | 56.4% |
| 净利率 | 3.5% | 34.6% |
| 营收同比 | 23.1% | 10.6% |
| 净利润同比 | 2063.9% | -6.8% |
| 每股收益（稀释后） | $0.66 | $3.81 |
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FIVEMSCI
| Q4 25 | $1.0B | $822.5M | ||
| Q3 25 | $1.0B | $793.4M | ||
| Q2 25 | $970.5M | $772.7M | ||
| Q1 25 | $1.4B | $745.8M | ||
| Q4 24 | $843.7M | $743.5M | ||
| Q3 24 | $830.1M | $724.7M | ||
| Q2 24 | $811.9M | $707.9M | ||
| Q1 24 | $1.3B | $680.0M |
净利润FIVEMSCI
| Q4 25 | $36.5M | $284.7M | ||
| Q3 25 | $42.8M | $325.4M | ||
| Q2 25 | $41.1M | $303.6M | ||
| Q1 25 | $187.5M | $288.6M | ||
| Q4 24 | $1.7M | $305.5M | ||
| Q3 24 | $33.0M | $280.9M | ||
| Q2 24 | $31.5M | $266.8M | ||
| Q1 24 | $202.2M | $256.0M |
毛利率FIVEMSCI
| Q4 25 | 33.8% | — | ||
| Q3 25 | 33.3% | — | ||
| Q2 25 | 33.4% | — | ||
| Q1 25 | 40.2% | — | ||
| Q4 24 | 30.6% | — | ||
| Q3 24 | 32.7% | — | ||
| Q2 24 | 32.5% | — | ||
| Q1 24 | 41.2% | — |
营业利润率FIVEMSCI
| Q4 25 | 4.2% | 56.4% | ||
| Q3 25 | 5.1% | 56.4% | ||
| Q2 25 | 5.2% | 55.0% | ||
| Q1 25 | 17.7% | 50.6% | ||
| Q4 24 | -0.1% | 54.5% | ||
| Q3 24 | 5.0% | 55.4% | ||
| Q2 24 | 4.5% | 54.0% | ||
| Q1 24 | 20.1% | 49.9% |
净利率FIVEMSCI
| Q4 25 | 3.5% | 34.6% | ||
| Q3 25 | 4.2% | 41.0% | ||
| Q2 25 | 4.2% | 39.3% | ||
| Q1 25 | 13.5% | 38.7% | ||
| Q4 24 | 0.2% | 41.1% | ||
| Q3 24 | 4.0% | 38.8% | ||
| Q2 24 | 3.9% | 37.7% | ||
| Q1 24 | 15.1% | 37.6% |
每股收益（稀释后）FIVEMSCI
| Q4 25 | $0.66 | $3.81 | ||
| Q3 25 | $0.77 | $4.25 | ||
| Q2 25 | $0.75 | $3.92 | ||
| Q1 25 | $3.40 | $3.71 | ||
| Q4 24 | $0.03 | $3.89 | ||
| Q3 24 | $0.60 | $3.57 | ||
| Q2 24 | $0.57 | $3.37 | ||
| Q1 24 | $3.64 | $3.22 |
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 | $524.5M | $515.3M |
| 总债务越低越好 | — | $6.2B |
| 股东权益账面价值 | $2.0B | $-2.7B |
| 总资产 | $4.8B | $5.7B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资FIVEMSCI
| Q4 25 | $524.5M | $515.3M | ||
| Q3 25 | $670.2M | $400.1M | ||
| Q2 25 | $624.0M | $347.3M | ||
| Q1 25 | $528.8M | $360.7M | ||
| Q4 24 | $216.6M | $409.4M | ||
| Q3 24 | $327.7M | $501.0M | ||
| Q2 24 | $369.6M | $451.4M | ||
| Q1 24 | $460.1M | $519.3M |
总债务FIVEMSCI
| Q4 25 | — | $6.2B | ||
| Q3 25 | — | $5.5B | ||
| Q2 25 | — | $4.5B | ||
| Q1 25 | — | $4.5B | ||
| Q4 24 | — | $4.5B | ||
| Q3 24 | — | $4.5B | ||
| Q2 24 | — | $4.5B | ||
| Q1 24 | — | $4.5B |
股东权益FIVEMSCI
| Q4 25 | $2.0B | $-2.7B | ||
| Q3 25 | $1.9B | $-1.9B | ||
| Q2 25 | $1.9B | $-886.2M | ||
| Q1 25 | $1.8B | $-958.6M | ||
| Q4 24 | $1.6B | $-940.0M | ||
| Q3 24 | $1.6B | $-751.0M | ||
| Q2 24 | $1.6B | $-734.5M | ||
| Q1 24 | $1.6B | $-650.5M |
总资产FIVEMSCI
| Q4 25 | $4.8B | $5.7B | ||
| Q3 25 | $4.6B | $5.4B | ||
| Q2 25 | $4.5B | $5.4B | ||
| Q1 25 | $4.3B | $5.3B | ||
| Q4 24 | $4.2B | $5.4B | ||
| Q3 24 | $4.0B | $5.4B | ||
| Q2 24 | $3.9B | $5.5B | ||
| Q1 24 | $3.9B | $5.5B |
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 | $-80.1M | $501.1M |
| 自由现金流经营现金流 - 资本支出 | $-133.2M | $488.7M |
| 自由现金流率自由现金流/营收 | -12.8% | 59.4% |
| 资本支出强度资本支出/营收 | 5.1% | 1.5% |
| 现金转化率经营现金流/净利润 | -2.19× | 1.76× |
| 过去12个月自由现金流最近4个季度 | $323.0M | $1.5B |
8季度趋势，按日历期对齐
经营现金流FIVEMSCI
| Q4 25 | $-80.1M | $501.1M | ||
| Q3 25 | $93.0M | $449.4M | ||
| Q2 25 | $132.7M | $336.1M | ||
| Q1 25 | $363.5M | $301.7M | ||
| Q4 24 | $-30.6M | $430.6M | ||
| Q3 24 | $71.3M | $421.6M | ||
| Q2 24 | $26.4M | $349.2M | ||
| Q1 24 | $407.7M | $300.1M |
自由现金流FIVEMSCI
| Q4 25 | $-133.2M | $488.7M | ||
| Q3 25 | $48.3M | $445.5M | ||
| Q2 25 | $96.5M | $324.7M | ||
| Q1 25 | $311.4M | $290.2M | ||
| Q4 24 | $-111.0M | $416.4M | ||
| Q3 24 | $-32.4M | $415.0M | ||
| Q2 24 | $-61.4M | $340.6M | ||
| Q1 24 | $304.6M | $295.9M |
自由现金流率FIVEMSCI
| Q4 25 | -12.8% | 59.4% | ||
| Q3 25 | 4.7% | 56.2% | ||
| Q2 25 | 9.9% | 42.0% | ||
| Q1 25 | 22.4% | 38.9% | ||
| Q4 24 | -13.2% | 56.0% | ||
| Q3 24 | -3.9% | 57.3% | ||
| Q2 24 | -7.6% | 48.1% | ||
| Q1 24 | 22.8% | 43.5% |
资本支出强度FIVEMSCI
| Q4 25 | 5.1% | 1.5% | ||
| Q3 25 | 4.4% | 0.5% | ||
| Q2 25 | 3.7% | 1.5% | ||
| Q1 25 | 3.7% | 1.5% | ||
| Q4 24 | 9.5% | 1.9% | ||
| Q3 24 | 12.5% | 0.9% | ||
| Q2 24 | 10.8% | 1.2% | ||
| Q1 24 | 7.7% | 0.6% |
现金转化率FIVEMSCI
| Q4 25 | -2.19× | 1.76× | ||
| Q3 25 | 2.17× | 1.38× | ||
| Q2 25 | 3.22× | 1.11× | ||
| Q1 25 | 1.94× | 1.05× | ||
| Q4 24 | -18.13× | 1.41× | ||
| Q3 24 | 2.16× | 1.50× | ||
| Q2 24 | 0.84× | 1.31× | ||
| Q1 24 | 2.02× | 1.17× |
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
FIVE
暂无分部数据
MSCI
| Recurring Subscriptions | $246.4M | 30% |
| Asset Based Fees | $211.7M | 26% |
| Analytics Segment | $182.3M | 22% |
| Sustainability And Climate Segment | $90.3M | 11% |
| Other | $70.9M | 9% |
| Non Recurring | $21.1M | 3% |
