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Installed Building Products, Inc.（IBP）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Installed Building Products, Inc.的1.0倍（$766.5M vs $747.5M），Installed Building Products, Inc.净利率更高（10.2% vs 2.2%，领先8.1%），SCANSOURCE, INC.同比增速更快（2.5% vs -0.4%），Installed Building Products, Inc.自由现金流更多（$49.3M vs $28.9M），过去两年Installed Building Products, Inc.的营收复合增速更高（3.9% vs 0.9%）
Installed Building Products, Inc.是美国领先的建筑产品安装服务商，主营绝缘材料、排水沟、车库门、消防系统及窗帘等产品的专业安装服务，覆盖住宅新建、翻新改造及商业建筑三大领域，业务遍及美国大部分地区。
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。
IBP vs SCSC — 直观对比
营收规模更大
SCSC
是对方的1.0倍
$747.5M
营收增速更快
SCSC
高出2.9%
-0.4%
净利率更高
IBP
高出8.1%
2.2%
自由现金流更多
IBP
多$20.4M
$28.9M
两年增速更快
IBP
近两年复合增速
0.9%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $747.5M | $766.5M |
| 净利润 | $76.6M | $16.5M |
| 毛利率 | 35.0% | 13.4% |
| 营业利润率 | 14.6% | 2.3% |
| 净利率 | 10.2% | 2.2% |
| 营收同比 | -0.4% | 2.5% |
| 净利润同比 | 14.5% | -3.3% |
| 每股收益（稀释后） | $2.81 | $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IBPSCSC
| Q4 25 | $747.5M | $766.5M | ||
| Q3 25 | $778.2M | $739.6M | ||
| Q2 25 | $760.3M | $812.9M | ||
| Q1 25 | $684.8M | $704.8M | ||
| Q4 24 | $750.2M | $747.5M | ||
| Q3 24 | $760.6M | $775.6M | ||
| Q2 24 | $737.6M | $746.1M | ||
| Q1 24 | $692.9M | $752.6M |
净利润IBPSCSC
| Q4 25 | $76.6M | $16.5M | ||
| Q3 25 | $74.4M | $19.9M | ||
| Q2 25 | $69.0M | $20.1M | ||
| Q1 25 | $45.4M | $17.4M | ||
| Q4 24 | $66.9M | $17.1M | ||
| Q3 24 | $68.6M | $17.0M | ||
| Q2 24 | $65.2M | $16.1M | ||
| Q1 24 | $55.9M | $12.8M |
毛利率IBPSCSC
| Q4 25 | 35.0% | 13.4% | ||
| Q3 25 | 34.0% | 14.5% | ||
| Q2 25 | 34.2% | 12.9% | ||
| Q1 25 | 32.7% | 14.2% | ||
| Q4 24 | 33.6% | 13.6% | ||
| Q3 24 | 33.8% | 13.1% | ||
| Q2 24 | 34.1% | 13.0% | ||
| Q1 24 | 33.8% | 12.6% |
营业利润率IBPSCSC
| Q4 25 | 14.6% | 2.3% | ||
| Q3 25 | 13.7% | 3.5% | ||
| Q2 25 | 13.3% | 3.3% | ||
| Q1 25 | 10.2% | 3.2% | ||
| Q4 24 | 13.1% | 2.5% | ||
| Q3 24 | 13.3% | 2.3% | ||
| Q2 24 | 12.9% | 2.9% | ||
| Q1 24 | 12.7% | 2.3% |
净利率IBPSCSC
| Q4 25 | 10.2% | 2.2% | ||
| Q3 25 | 9.6% | 2.7% | ||
| Q2 25 | 9.1% | 2.5% | ||
| Q1 25 | 6.6% | 2.5% | ||
| Q4 24 | 8.9% | 2.3% | ||
| Q3 24 | 9.0% | 2.2% | ||
| Q2 24 | 8.8% | 2.2% | ||
| Q1 24 | 8.1% | 1.7% |
每股收益（稀释后）IBPSCSC
| Q4 25 | $2.81 | $0.75 | ||
| Q3 25 | $2.74 | $0.89 | ||
| Q2 25 | $2.52 | $0.87 | ||
| Q1 25 | $1.64 | $0.74 | ||
| Q4 24 | $2.39 | $0.70 | ||
| Q3 24 | $2.44 | $0.69 | ||
| Q2 24 | $2.30 | $0.66 | ||
| Q1 24 | $1.97 | $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 | $321.9M | $83.5M |
| 总债务越低越好 | $886.6M | — |
| 股东权益账面价值 | $709.9M | $910.9M |
| 总资产 | $2.1B | $1.7B |
| 负债/权益比越低杠杆越低 | 1.25× | — |
8季度趋势，按日历期对齐
现金及短期投资IBPSCSC
| Q4 25 | $321.9M | $83.5M | ||
| Q3 25 | $333.3M | $124.9M | ||
| Q2 25 | $305.2M | $126.2M | ||
| Q1 25 | $298.7M | $146.3M | ||
| Q4 24 | $327.6M | $110.5M | ||
| Q3 24 | $406.2M | $145.0M | ||
| Q2 24 | $380.3M | $185.5M | ||
| Q1 24 | $399.9M | $159.1M |
总债务IBPSCSC
| Q4 25 | $886.6M | — | ||
| Q3 25 | $880.8M | — | ||
| Q2 25 | $876.1M | — | ||
| Q1 25 | $872.4M | — | ||
| Q4 24 | $874.8M | — | ||
| Q3 24 | $872.3M | — | ||
| Q2 24 | $875.8M | — | ||
| Q1 24 | $875.0M | — |
股东权益IBPSCSC
| Q4 25 | $709.9M | $910.9M | ||
| Q3 25 | $678.6M | $914.0M | ||
| Q2 25 | $664.5M | $906.4M | ||
| Q1 25 | $660.9M | $901.7M | ||
| Q4 24 | $705.3M | $900.7M | ||
| Q3 24 | $716.4M | $920.9M | ||
| Q2 24 | $685.3M | $924.3M | ||
| Q1 24 | $679.2M | $944.1M |
总资产IBPSCSC
| Q4 25 | $2.1B | $1.7B | ||
| Q3 25 | $2.1B | $1.7B | ||
| Q2 25 | $2.0B | $1.8B | ||
| Q1 25 | $2.0B | $1.7B | ||
| Q4 24 | $2.1B | $1.7B | ||
| Q3 24 | $2.1B | $1.8B | ||
| Q2 24 | $2.0B | $1.8B | ||
| Q1 24 | $2.0B | $1.8B |
负债/权益比IBPSCSC
| Q4 25 | 1.25× | — | ||
| Q3 25 | 1.30× | — | ||
| Q2 25 | 1.32× | — | ||
| Q1 25 | 1.32× | — | ||
| Q4 24 | 1.24× | — | ||
| Q3 24 | 1.22× | — | ||
| Q2 24 | 1.28× | — | ||
| Q1 24 | 1.29× | — |
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 | $64.9M | $30.8M |
| 自由现金流经营现金流 - 资本支出 | $49.3M | $28.9M |
| 自由现金流率自由现金流/营收 | 6.6% | 3.8% |
| 资本支出强度资本支出/营收 | 2.1% | 0.3% |
| 现金转化率经营现金流/净利润 | 0.85× | 1.87× |
| 过去12个月自由现金流最近4个季度 | $300.8M | — |
8季度趋势，按日历期对齐
经营现金流IBPSCSC
| Q4 25 | $64.9M | $30.8M | ||
| Q3 25 | $124.0M | $23.2M | ||
| Q2 25 | $90.4M | — | ||
| Q1 25 | $92.1M | $66.1M | ||
| Q4 24 | $74.8M | $-6.2M | ||
| Q3 24 | $101.4M | $44.8M | ||
| Q2 24 | $79.0M | — | ||
| Q1 24 | $84.8M | $160.2M |
自由现金流IBPSCSC
| Q4 25 | $49.3M | $28.9M | ||
| Q3 25 | $104.8M | $20.8M | ||
| Q2 25 | $74.8M | — | ||
| Q1 25 | $71.9M | $64.6M | ||
| Q4 24 | $52.9M | $-8.2M | ||
| Q3 24 | $77.3M | $42.5M | ||
| Q2 24 | $58.2M | — | ||
| Q1 24 | $63.0M | $157.7M |
自由现金流率IBPSCSC
| Q4 25 | 6.6% | 3.8% | ||
| Q3 25 | 13.5% | 2.8% | ||
| Q2 25 | 9.8% | — | ||
| Q1 25 | 10.5% | 9.2% | ||
| Q4 24 | 7.1% | -1.1% | ||
| Q3 24 | 10.2% | 5.5% | ||
| Q2 24 | 7.9% | — | ||
| Q1 24 | 9.1% | 21.0% |
资本支出强度IBPSCSC
| Q4 25 | 2.1% | 0.3% | ||
| Q3 25 | 2.5% | 0.3% | ||
| Q2 25 | 2.1% | 0.3% | ||
| Q1 25 | 2.9% | 0.2% | ||
| Q4 24 | 2.9% | 0.3% | ||
| Q3 24 | 3.2% | 0.3% | ||
| Q2 24 | 2.8% | 0.2% | ||
| Q1 24 | 3.1% | 0.3% |
现金转化率IBPSCSC
| Q4 25 | 0.85× | 1.87× | ||
| Q3 25 | 1.67× | 1.17× | ||
| Q2 25 | 1.31× | — | ||
| Q1 25 | 2.03× | 3.79× | ||
| Q4 24 | 1.12× | -0.36× | ||
| Q3 24 | 1.48× | 2.64× | ||
| Q2 24 | 1.21× | — | ||
| Q1 24 | 1.52× | 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
IBP
| Residential New Construction | $488.6M | 65% |
| Other Customer Installation | $67.8M | 9% |
| Shower Doors Shelving And Mirrors | $53.5M | 7% |
| Other Building Products | $47.7M | 6% |
| Fireproofing And Firestopping | $37.6M | 5% |
| Rain Gutters | $31.3M | 4% |
| Window Blinds | $18.0M | 2% |
| Related Party | $6.7M | 1% |
SCSC
| Products And Services | $723.4M | 94% |
| Intelisys Advisory | $25.0M | 3% |
| Recurring Revenue | $18.2M | 2% |
