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哈贝尔（HUBB）与Paychex（PAYX）财务数据对比。点击上方公司名可切换其他公司
Paychex的季度营收约是哈贝尔的1.0倍（$1.5B vs $1.5B），Paychex净利率更高（26.3% vs 14.6%，领先11.7%），Paychex同比增速更快（17.4% vs 11.9%），哈贝尔自由现金流更多（$388.8M vs $382.8M），过去两年Paychex的营收复合增速更高（3.8% vs 3.3%）
哈贝尔（Hubbell Incorporated）是总部位于美国康涅狄格州谢尔顿的企业，由哈维·哈贝尔于1888年创立，1905年在康涅狄格州正式注册。公司主营电气及电子产品的设计、生产与销售，产品广泛应用于住宅、非住宅建筑、工业及公用事业等多个领域。
Paychex是美国知名人力资源服务提供商，1971年成立，总部位于纽约州罗切斯特，面向中小微企业提供薪资管理、人力资源外包、员工福利外包等服务。目前在美欧地区拥有超100个办事处，服务约80万家薪资客户，位列《财富》500强第681位。
HUBB vs PAYX — 直观对比
营收规模更大
PAYX
是对方的1.0倍
$1.5B
营收增速更快
PAYX
高出5.5%
11.9%
净利率更高
PAYX
高出11.7%
14.6%
自由现金流更多
HUBB
多$6.0M
$382.8M
两年增速更快
PAYX
近两年复合增速
3.3%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.5B | $1.5B |
| 净利润 | $217.7M | $395.4M |
| 毛利率 | 34.6% | 72.6% |
| 营业利润率 | 20.3% | 38.0% |
| 净利率 | 14.6% | 26.3% |
| 营收同比 | 11.9% | 17.4% |
| 净利润同比 | 10.5% | -4.4% |
| 每股收益（稀释后） | $4.06 | $1.10 |
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HUBBPAYX
| Q4 25 | $1.5B | $1.5B | ||
| Q3 25 | $1.5B | $1.5B | ||
| Q2 25 | $1.5B | $1.4B | ||
| Q1 25 | $1.4B | $1.5B | ||
| Q4 24 | $1.3B | $1.3B | ||
| Q3 24 | $1.4B | $1.3B | ||
| Q2 24 | $1.5B | $1.3B | ||
| Q1 24 | $1.4B | $1.4B |
净利润HUBBPAYX
| Q4 25 | $217.7M | $395.4M | ||
| Q3 25 | $255.5M | $383.8M | ||
| Q2 25 | $244.2M | $297.2M | ||
| Q1 25 | $169.7M | $519.3M | ||
| Q4 24 | $197.0M | $413.4M | ||
| Q3 24 | $219.4M | $427.4M | ||
| Q2 24 | $213.6M | $379.9M | ||
| Q1 24 | $147.8M | $498.6M |
毛利率HUBBPAYX
| Q4 25 | 34.6% | 72.6% | ||
| Q3 25 | 36.2% | 72.3% | ||
| Q2 25 | 37.2% | 71.5% | ||
| Q1 25 | 33.1% | 73.6% | ||
| Q4 24 | 33.8% | 70.4% | ||
| Q3 24 | 34.5% | 70.3% | ||
| Q2 24 | 35.0% | 70.1% | ||
| Q1 24 | 32.0% | 72.8% |
营业利润率HUBBPAYX
| Q4 25 | 20.3% | 38.0% | ||
| Q3 25 | 22.0% | 36.3% | ||
| Q2 25 | 22.7% | 31.2% | ||
| Q1 25 | 17.5% | 47.2% | ||
| Q4 24 | 19.3% | 42.0% | ||
| Q3 24 | 21.1% | 42.7% | ||
| Q2 24 | 20.7% | 38.3% | ||
| Q1 24 | 16.3% | 46.6% |
净利率HUBBPAYX
| Q4 25 | 14.6% | 26.3% | ||
| Q3 25 | 17.0% | 25.7% | ||
| Q2 25 | 16.5% | 21.5% | ||
| Q1 25 | 12.4% | 35.4% | ||
| Q4 24 | 14.8% | 32.3% | ||
| Q3 24 | 15.2% | 33.4% | ||
| Q2 24 | 14.7% | 30.2% | ||
| Q1 24 | 10.6% | 35.7% |
每股收益（稀释后）HUBBPAYX
| Q4 25 | $4.06 | $1.10 | ||
| Q3 25 | $4.77 | $1.06 | ||
| Q2 25 | $4.56 | $0.83 | ||
| Q1 25 | $3.15 | $1.43 | ||
| Q4 24 | $3.65 | $1.14 | ||
| Q3 24 | $4.05 | $1.18 | ||
| Q2 24 | $3.94 | $1.05 | ||
| Q1 24 | $2.73 | $1.38 |
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 | $497.9M | $1.5B |
| 总债务越低越好 | — | $5.0B |
| 股东权益账面价值 | $3.8B | $3.9B |
| 总资产 | $8.2B | $16.5B |
| 负债/权益比越低杠杆越低 | — | 1.28× |
8季度趋势，按日历期对齐
现金及短期投资HUBBPAYX
| Q4 25 | $497.9M | $1.5B | ||
| Q3 25 | $680.9M | $1.7B | ||
| Q2 25 | $399.6M | $1.7B | ||
| Q1 25 | $360.3M | $1.6B | ||
| Q4 24 | $345.0M | $1.2B | ||
| Q3 24 | $445.6M | $1.5B | ||
| Q2 24 | $406.5M | $1.5B | ||
| Q1 24 | $400.3M | $1.7B |
总债务HUBBPAYX
| Q4 25 | — | $5.0B | ||
| Q3 25 | $1.4B | $5.0B | ||
| Q2 25 | $1.4B | $4.9B | ||
| Q1 25 | $1.4B | — | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $1.7B | — | ||
| Q2 24 | $1.9B | $798.6M | ||
| Q1 24 | $1.9B | — |
股东权益HUBBPAYX
| Q4 25 | $3.8B | $3.9B | ||
| Q3 25 | $3.7B | $4.0B | ||
| Q2 25 | $3.5B | $4.1B | ||
| Q1 25 | $3.3B | $4.1B | ||
| Q4 24 | $3.3B | $3.9B | ||
| Q3 24 | $3.2B | $3.9B | ||
| Q2 24 | $3.1B | $3.8B | ||
| Q1 24 | $2.9B | $3.7B |
总资产HUBBPAYX
| Q4 25 | $8.2B | $16.5B | ||
| Q3 25 | $7.5B | $16.7B | ||
| Q2 25 | $7.1B | $16.6B | ||
| Q1 25 | $6.9B | $11.2B | ||
| Q4 24 | $6.7B | $10.6B | ||
| Q3 24 | $6.9B | $10.5B | ||
| Q2 24 | $6.9B | $10.4B | ||
| Q1 24 | $6.9B | $13.0B |
负债/权益比HUBBPAYX
| Q4 25 | — | 1.28× | ||
| Q3 25 | 0.39× | 1.25× | ||
| Q2 25 | 0.41× | 1.20× | ||
| Q1 25 | 0.44× | — | ||
| Q4 24 | 0.44× | — | ||
| Q3 24 | 0.51× | — | ||
| Q2 24 | 0.63× | 0.21× | ||
| Q1 24 | 0.65× | — |
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 | $447.5M | $444.9M |
| 自由现金流经营现金流 - 资本支出 | $388.8M | $382.8M |
| 自由现金流率自由现金流/营收 | 26.0% | 25.5% |
| 资本支出强度资本支出/营收 | 3.9% | 4.1% |
| 现金转化率经营现金流/净利润 | 2.06× | 1.13× |
| 过去12个月自由现金流最近4个季度 | $874.7M | $2.0B |
8季度趋势，按日历期对齐
经营现金流HUBBPAYX
| Q4 25 | $447.5M | $444.9M | ||
| Q3 25 | $284.3M | $718.4M | ||
| Q2 25 | $260.6M | $343.8M | ||
| Q1 25 | $37.4M | $716.0M | ||
| Q4 24 | $432.4M | $295.0M | ||
| Q3 24 | $227.0M | $546.1M | ||
| Q2 24 | $239.6M | $221.7M | ||
| Q1 24 | $92.2M | $671.7M |
自由现金流HUBBPAYX
| Q4 25 | $388.8M | $382.8M | ||
| Q3 25 | $253.8M | $662.5M | ||
| Q2 25 | $220.7M | $283.3M | ||
| Q1 25 | $11.4M | $667.3M | ||
| Q4 24 | $364.4M | $248.0M | ||
| Q3 24 | $188.8M | $510.5M | ||
| Q2 24 | $205.7M | $180.4M | ||
| Q1 24 | $51.9M | $631.0M |
自由现金流率HUBBPAYX
| Q4 25 | 26.0% | 25.5% | ||
| Q3 25 | 16.9% | 44.4% | ||
| Q2 25 | 14.9% | 20.5% | ||
| Q1 25 | 0.8% | 45.5% | ||
| Q4 24 | 27.3% | 19.4% | ||
| Q3 24 | 13.1% | 39.9% | ||
| Q2 24 | 14.2% | 14.4% | ||
| Q1 24 | 3.7% | 45.2% |
资本支出强度HUBBPAYX
| Q4 25 | 3.9% | 4.1% | ||
| Q3 25 | 2.0% | 3.7% | ||
| Q2 25 | 2.7% | 4.4% | ||
| Q1 25 | 1.9% | 3.3% | ||
| Q4 24 | 5.1% | 3.7% | ||
| Q3 24 | 2.6% | 2.8% | ||
| Q2 24 | 2.3% | 3.3% | ||
| Q1 24 | 2.9% | 2.9% |
现金转化率HUBBPAYX
| Q4 25 | 2.06× | 1.13× | ||
| Q3 25 | 1.11× | 1.87× | ||
| Q2 25 | 1.07× | 1.16× | ||
| Q1 25 | 0.22× | 1.38× | ||
| Q4 24 | 2.19× | 0.71× | ||
| Q3 24 | 1.03× | 1.28× | ||
| Q2 24 | 1.12× | 0.58× | ||
| Q1 24 | 0.62× | 1.35× |
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
HUBB
| Grid Infrastructure | $717.0M | 48% |
| Industrial | $393.7M | 26% |
| Grid Automation | $218.9M | 15% |
| Electrical Products | $163.1M | 11% |
PAYX
| Management Solutions | $1.2B | 78% |
| Peo And Insurance Solutions | $336.9M | 22% |
