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Global Payments（GPN）与威世（VSH）财务数据对比。点击上方公司名可切换其他公司
Global Payments的季度营收约是威世的1.7倍（$1.3B vs $800.9M），Global Payments净利率更高（16.4% vs 0.1%，领先16.2%），威世同比增速更快（12.1% vs -47.1%），Global Payments自由现金流更多（$347.0M vs $54.6M），过去两年威世的营收复合增速更高（3.6% vs -25.9%）
Global Payments Inc.是美国跨国金融科技企业，面向商户、发卡机构及消费者提供支付技术与相关服务，支持信用卡、借记卡、数字支付及非接触式支付的交易处理，2021年6月入选《财富》500强榜单。
威世（Vishay Intertechnology）是美国知名的分立半导体与被动电子元器件制造商，由企业家菲利克斯·赞德曼创立。公司在以色列、亚洲、欧洲、美洲均设有生产基地，产品覆盖整流器、二极管、MOSFET、光电器件、精选集成电路、电阻器、电容器、电感器等品类，2024年营收达29亿美元，全球全职员工约2.27万人。
GPN vs VSH — 直观对比
营收规模更大
GPN
是对方的1.7倍
$800.9M
营收增速更快
VSH
高出59.2%
-47.1%
净利率更高
GPN
高出16.2%
0.1%
自由现金流更多
GPN
多$292.4M
$54.6M
两年增速更快
VSH
近两年复合增速
-25.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $800.9M |
| 净利润 | $217.5M | $986.0K |
| 毛利率 | 89.7% | 19.6% |
| 营业利润率 | 5.9% | 1.8% |
| 净利率 | 16.4% | 0.1% |
| 营收同比 | -47.1% | 12.1% |
| 净利润同比 | -61.6% | 101.5% |
| 每股收益（稀释后） | $0.91 | $0.01 |
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GPNVSH
| Q4 25 | $1.3B | $800.9M | ||
| Q3 25 | $2.0B | $790.6M | ||
| Q2 25 | $2.0B | $762.3M | ||
| Q1 25 | $2.4B | $715.2M | ||
| Q4 24 | $2.5B | $714.7M | ||
| Q3 24 | $2.6B | $735.4M | ||
| Q2 24 | $2.6B | $741.2M | ||
| Q1 24 | $2.4B | $746.3M |
净利润GPNVSH
| Q4 25 | $217.5M | $986.0K | ||
| Q3 25 | $635.2M | $-7.9M | ||
| Q2 25 | $241.6M | $2.0M | ||
| Q1 25 | $305.7M | $-4.1M | ||
| Q4 24 | $567.2M | $-66.1M | ||
| Q3 24 | $315.1M | $-19.3M | ||
| Q2 24 | $374.8M | $23.5M | ||
| Q1 24 | $313.3M | $30.9M |
毛利率GPNVSH
| Q4 25 | 89.7% | 19.6% | ||
| Q3 25 | 72.3% | 19.5% | ||
| Q2 25 | 74.5% | 19.5% | ||
| Q1 25 | 61.8% | 19.0% | ||
| Q4 24 | 62.1% | 19.9% | ||
| Q3 24 | 63.6% | 20.5% | ||
| Q2 24 | 63.5% | 22.0% | ||
| Q1 24 | 61.9% | 22.8% |
营业利润率GPNVSH
| Q4 25 | 5.9% | 1.8% | ||
| Q3 25 | 38.8% | 2.4% | ||
| Q2 25 | 21.8% | 2.9% | ||
| Q1 25 | 19.5% | 0.1% | ||
| Q4 24 | 33.1% | -7.9% | ||
| Q3 24 | 18.3% | -2.5% | ||
| Q2 24 | 22.3% | 5.1% | ||
| Q1 24 | 18.7% | 5.7% |
净利率GPNVSH
| Q4 25 | 16.4% | 0.1% | ||
| Q3 25 | 31.6% | -1.0% | ||
| Q2 25 | 12.3% | 0.3% | ||
| Q1 25 | 12.7% | -0.6% | ||
| Q4 24 | 22.5% | -9.2% | ||
| Q3 24 | 12.1% | -2.6% | ||
| Q2 24 | 14.6% | 3.2% | ||
| Q1 24 | 12.9% | 4.1% |
每股收益（稀释后）GPNVSH
| Q4 25 | $0.91 | $0.01 | ||
| Q3 25 | $2.64 | $-0.06 | ||
| Q2 25 | $0.99 | $0.01 | ||
| Q1 25 | $1.24 | $-0.03 | ||
| Q4 24 | $2.23 | $-0.48 | ||
| Q3 24 | $1.24 | $-0.14 | ||
| Q2 24 | $1.47 | $0.17 | ||
| Q1 24 | $1.22 | $0.22 |
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 | $8.3B | $515.0M |
| 总债务越低越好 | $19.5B | $950.9M |
| 股东权益账面价值 | $22.9B | $2.1B |
| 总资产 | $53.3B | $4.2B |
| 负债/权益比越低杠杆越低 | 0.85× | 0.46× |
8季度趋势，按日历期对齐
现金及短期投资GPNVSH
| Q4 25 | $8.3B | $515.0M | ||
| Q3 25 | $2.6B | $443.9M | ||
| Q2 25 | $2.6B | $473.9M | ||
| Q1 25 | $2.9B | $609.4M | ||
| Q4 24 | $2.5B | $590.3M | ||
| Q3 24 | $2.9B | $643.8M | ||
| Q2 24 | $2.1B | $672.7M | ||
| Q1 24 | $2.2B | $796.5M |
总债务GPNVSH
| Q4 25 | $19.5B | $950.9M | ||
| Q3 25 | $13.3B | $919.7M | ||
| Q2 25 | $14.2B | $914.5M | ||
| Q1 25 | $15.0B | $988.2M | ||
| Q4 24 | $15.2B | $905.0M | ||
| Q3 24 | $15.2B | $820.8M | ||
| Q2 24 | $15.6B | $820.6M | ||
| Q1 24 | $15.6B | $819.4M |
股东权益GPNVSH
| Q4 25 | $22.9B | $2.1B | ||
| Q3 25 | $22.7B | $2.1B | ||
| Q2 25 | $22.6B | $2.1B | ||
| Q1 25 | $22.2B | $2.0B | ||
| Q4 24 | $22.3B | $2.0B | ||
| Q3 24 | $22.8B | $2.2B | ||
| Q2 24 | $22.4B | $2.2B | ||
| Q1 24 | $22.2B | $2.2B |
总资产GPNVSH
| Q4 25 | $53.3B | $4.2B | ||
| Q3 25 | $48.0B | $4.2B | ||
| Q2 25 | $48.5B | $4.2B | ||
| Q1 25 | $47.6B | $4.2B | ||
| Q4 24 | $46.9B | $4.1B | ||
| Q3 24 | $50.0B | $4.2B | ||
| Q2 24 | $50.8B | $4.2B | ||
| Q1 24 | $51.8B | $4.3B |
负债/权益比GPNVSH
| Q4 25 | 0.85× | 0.46× | ||
| Q3 25 | 0.59× | 0.44× | ||
| Q2 25 | 0.63× | 0.44× | ||
| Q1 25 | 0.67× | 0.49× | ||
| Q4 24 | 0.68× | 0.45× | ||
| Q3 24 | 0.67× | 0.38× | ||
| Q2 24 | 0.70× | 0.38× | ||
| Q1 24 | 0.70× | 0.38× |
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 | $515.2M | $149.4M |
| 自由现金流经营现金流 - 资本支出 | $347.0M | $54.6M |
| 自由现金流率自由现金流/营收 | 26.1% | 6.8% |
| 资本支出强度资本支出/营收 | 12.7% | 11.8% |
| 现金转化率经营现金流/净利润 | 2.37× | 151.48× |
| 过去12个月自由现金流最近4个季度 | $2.0B | $-89.0M |
8季度趋势，按日历期对齐
经营现金流GPNVSH
| Q4 25 | $515.2M | $149.4M | ||
| Q3 25 | $768.7M | $27.6M | ||
| Q2 25 | $817.5M | $-8.8M | ||
| Q1 25 | $555.1M | $16.1M | ||
| Q4 24 | $653.4M | $67.7M | ||
| Q3 24 | $1.7B | $50.6M | ||
| Q2 24 | $736.9M | $-24.7M | ||
| Q1 24 | $416.3M | $80.2M |
自由现金流GPNVSH
| Q4 25 | $347.0M | $54.6M | ||
| Q3 25 | $598.9M | $-24.7M | ||
| Q2 25 | $665.4M | $-73.4M | ||
| Q1 25 | $427.5M | $-45.5M | ||
| Q4 24 | $469.4M | $-77.2M | ||
| Q3 24 | $1.6B | $-9.0M | ||
| Q2 24 | $557.7M | $-87.3M | ||
| Q1 24 | $270.9M | $27.1M |
自由现金流率GPNVSH
| Q4 25 | 26.1% | 6.8% | ||
| Q3 25 | 29.8% | -3.1% | ||
| Q2 25 | 34.0% | -9.6% | ||
| Q1 25 | 17.7% | -6.4% | ||
| Q4 24 | 18.7% | -10.8% | ||
| Q3 24 | 60.0% | -1.2% | ||
| Q2 24 | 21.7% | -11.8% | ||
| Q1 24 | 11.2% | 3.6% |
资本支出强度GPNVSH
| Q4 25 | 12.7% | 11.8% | ||
| Q3 25 | 8.5% | 6.6% | ||
| Q2 25 | 7.8% | 8.5% | ||
| Q1 25 | 5.3% | 8.6% | ||
| Q4 24 | 7.3% | 20.3% | ||
| Q3 24 | 6.4% | 8.1% | ||
| Q2 24 | 7.0% | 8.4% | ||
| Q1 24 | 6.0% | 7.1% |
现金转化率GPNVSH
| Q4 25 | 2.37× | 151.48× | ||
| Q3 25 | 1.21× | — | ||
| Q2 25 | 3.38× | -4.39× | ||
| Q1 25 | 1.82× | — | ||
| Q4 24 | 1.15× | — | ||
| Q3 24 | 5.48× | — | ||
| Q2 24 | 1.97× | -1.05× | ||
| Q1 24 | 1.33× | 2.59× |
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
GPN
| Integrated And Embedded Solutions | $869.3M | 65% |
| Point Of Sale And Software Solutions | $281.7M | 21% |
| Other | $178.4M | 13% |
VSH
| Resistors Segment | $189.4M | 24% |
| Diodes Segment | $154.2M | 19% |
| Capacitors Segment | $136.5M | 17% |
| Other | $126.4M | 16% |
| Inductors Segment | $92.6M | 12% |
| Optoelectronic Components Segment | $55.7M | 7% |
| EMS Companies | $51.6M | 6% |
