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HORACE MANN EDUCATORS CORP（HMN）与SCANSOURCE, INC.（SCSC）财务数据对比。点击上方公司名可切换其他公司
SCANSOURCE, INC.的季度营收约是HORACE MANN EDUCATORS CORP的1.8倍（$766.5M vs $434.8M），HORACE MANN EDUCATORS CORP同比增速更快（6.3% vs 2.5%），过去两年HORACE MANN EDUCATORS CORP的营收复合增速更高（6.1% vs 0.9%）
贺拉斯曼是一家总部位于美国伊利诺伊州的金融服务企业，主营汽车保险、财产保险、补充保险与人寿保险业务，同时提供退休年金、共同基金等金融产品，核心服务群体为教育工作者及其家庭。
ScanSource是全球领先的专业技术分销商，主营销售点系统、条码扫描设备、网络安全产品、云服务及通信解决方案，面向北美、拉美、欧洲的增值经销商、服务提供商及企业客户，覆盖零售、医疗、工业、公共部门等领域。
HMN vs SCSC — 直观对比
营收规模更大
SCSC
是对方的1.8倍
$434.8M
营收增速更快
HMN
高出3.8%
2.5%
两年增速更快
HMN
近两年复合增速
0.9%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $434.8M | $766.5M |
| 净利润 | — | $16.5M |
| 毛利率 | — | 13.4% |
| 营业利润率 | 10.5% | 2.3% |
| 净利率 | — | 2.2% |
| 营收同比 | 6.3% | 2.5% |
| 净利润同比 | — | -3.3% |
| 每股收益（稀释后） | $0.87 | $0.75 |
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HMNSCSC
| Q4 25 | $434.8M | $766.5M | ||
| Q3 25 | $438.5M | $739.6M | ||
| Q2 25 | $411.7M | $812.9M | ||
| Q1 25 | $416.4M | $704.8M | ||
| Q4 24 | $409.0M | $747.5M | ||
| Q3 24 | $412.1M | $775.6M | ||
| Q2 24 | $388.1M | $746.1M | ||
| Q1 24 | $386.0M | $752.6M |
净利润HMNSCSC
| Q4 25 | — | $16.5M | ||
| Q3 25 | $58.3M | $19.9M | ||
| Q2 25 | $29.4M | $20.1M | ||
| Q1 25 | $38.2M | $17.4M | ||
| Q4 24 | — | $17.1M | ||
| Q3 24 | $34.3M | $17.0M | ||
| Q2 24 | $3.8M | $16.1M | ||
| Q1 24 | $26.5M | $12.8M |
毛利率HMNSCSC
| Q4 25 | — | 13.4% | ||
| Q3 25 | — | 14.5% | ||
| Q2 25 | — | 12.9% | ||
| Q1 25 | — | 14.2% | ||
| Q4 24 | — | 13.6% | ||
| Q3 24 | — | 13.1% | ||
| Q2 24 | — | 13.0% | ||
| Q1 24 | — | 12.6% |
营业利润率HMNSCSC
| Q4 25 | 10.5% | 2.3% | ||
| Q3 25 | 16.3% | 3.5% | ||
| Q2 25 | 8.9% | 3.3% | ||
| Q1 25 | 11.4% | 3.2% | ||
| Q4 24 | 11.8% | 2.5% | ||
| Q3 24 | 10.4% | 2.3% | ||
| Q2 24 | 1.2% | 2.9% | ||
| Q1 24 | 8.5% | 2.3% |
净利率HMNSCSC
| Q4 25 | — | 2.2% | ||
| Q3 25 | 13.3% | 2.7% | ||
| Q2 25 | 7.1% | 2.5% | ||
| Q1 25 | 9.2% | 2.5% | ||
| Q4 24 | — | 2.3% | ||
| Q3 24 | 8.3% | 2.2% | ||
| Q2 24 | 1.0% | 2.2% | ||
| Q1 24 | 6.9% | 1.7% |
每股收益（稀释后）HMNSCSC
| Q4 25 | $0.87 | $0.75 | ||
| Q3 25 | $1.40 | $0.89 | ||
| Q2 25 | $0.71 | $0.87 | ||
| Q1 25 | $0.92 | $0.74 | ||
| Q4 24 | $0.92 | $0.70 | ||
| Q3 24 | $0.83 | $0.69 | ||
| Q2 24 | $0.09 | $0.66 | ||
| Q1 24 | $0.64 | $0.50 |
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 | $27.5M | $83.5M |
| 总债务越低越好 | $593.4M | — |
| 股东权益账面价值 | $1.5B | $910.9M |
| 总资产 | $15.3B | $1.7B |
| 负债/权益比越低杠杆越低 | 0.40× | — |
8季度趋势，按日历期对齐
现金及短期投资HMNSCSC
| Q4 25 | $27.5M | $83.5M | ||
| Q3 25 | $46.7M | $124.9M | ||
| Q2 25 | — | $126.2M | ||
| Q1 25 | — | $146.3M | ||
| Q4 24 | $38.1M | $110.5M | ||
| Q3 24 | — | $145.0M | ||
| Q2 24 | — | $185.5M | ||
| Q1 24 | — | $159.1M |
总债务HMNSCSC
| Q4 25 | $593.4M | — | ||
| Q3 25 | $842.9M | — | ||
| Q2 25 | $547.5M | — | ||
| Q1 25 | $547.2M | — | ||
| Q4 24 | $547.0M | — | ||
| Q3 24 | $546.7M | — | ||
| Q2 24 | $546.5M | — | ||
| Q1 24 | $546.2M | — |
股东权益HMNSCSC
| Q4 25 | $1.5B | $910.9M | ||
| Q3 25 | $1.4B | $914.0M | ||
| Q2 25 | $1.4B | $906.4M | ||
| Q1 25 | $1.3B | $901.7M | ||
| Q4 24 | $1.3B | $900.7M | ||
| Q3 24 | $1.3B | $920.9M | ||
| Q2 24 | $1.2B | $924.3M | ||
| Q1 24 | $1.2B | $944.1M |
总资产HMNSCSC
| Q4 25 | $15.3B | $1.7B | ||
| Q3 25 | $15.5B | $1.7B | ||
| Q2 25 | $14.7B | $1.8B | ||
| Q1 25 | $14.4B | $1.7B | ||
| Q4 24 | $14.5B | $1.7B | ||
| Q3 24 | $14.7B | $1.8B | ||
| Q2 24 | $14.3B | $1.8B | ||
| Q1 24 | $14.2B | $1.8B |
负债/权益比HMNSCSC
| Q4 25 | 0.40× | — | ||
| Q3 25 | 0.58× | — | ||
| Q2 25 | 0.40× | — | ||
| Q1 25 | 0.41× | — | ||
| Q4 24 | 0.42× | — | ||
| Q3 24 | 0.42× | — | ||
| Q2 24 | 0.45× | — | ||
| Q1 24 | 0.45× | — |
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 | $553.2M | $30.8M |
| 自由现金流经营现金流 - 资本支出 | — | $28.9M |
| 自由现金流率自由现金流/营收 | — | 3.8% |
| 资本支出强度资本支出/营收 | — | 0.3% |
| 现金转化率经营现金流/净利润 | — | 1.87× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流HMNSCSC
| Q4 25 | $553.2M | $30.8M | ||
| Q3 25 | $151.2M | $23.2M | ||
| Q2 25 | $131.3M | — | ||
| Q1 25 | $140.8M | $66.1M | ||
| Q4 24 | $452.1M | $-6.2M | ||
| Q3 24 | $143.9M | $44.8M | ||
| Q2 24 | $40.2M | — | ||
| Q1 24 | $74.5M | $160.2M |
自由现金流HMNSCSC
| Q4 25 | — | $28.9M | ||
| Q3 25 | — | $20.8M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $64.6M | ||
| Q4 24 | — | $-8.2M | ||
| Q3 24 | — | $42.5M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $157.7M |
自由现金流率HMNSCSC
| Q4 25 | — | 3.8% | ||
| Q3 25 | — | 2.8% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 9.2% | ||
| Q4 24 | — | -1.1% | ||
| Q3 24 | — | 5.5% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 21.0% |
资本支出强度HMNSCSC
| Q4 25 | — | 0.3% | ||
| Q3 25 | — | 0.3% | ||
| Q2 25 | — | 0.3% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | — | 0.3% | ||
| Q3 24 | — | 0.3% | ||
| Q2 24 | — | 0.2% | ||
| Q1 24 | — | 0.3% |
现金转化率HMNSCSC
| Q4 25 | — | 1.87× | ||
| Q3 25 | 2.59× | 1.17× | ||
| Q2 25 | 4.47× | — | ||
| Q1 25 | 3.69× | 3.79× | ||
| Q4 24 | — | -0.36× | ||
| Q3 24 | 4.20× | 2.64× | ||
| Q2 24 | 10.58× | — | ||
| Q1 24 | 2.81× | 12.51× |
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
HMN
| Property And Casualty | $224.3M | 52% |
| Life And Retirement | $139.6M | 32% |
| Supplemental And Group Benefits | $77.0M | 18% |
SCSC
| Products And Services | $723.4M | 94% |
| Intelisys Advisory | $25.0M | 3% |
| Recurring Revenue | $18.2M | 2% |
