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Idexx Laboratories（IDXX）与帕森斯公司（PSN）财务数据对比。点击上方公司名可切换其他公司
帕森斯公司的季度营收约是Idexx Laboratories的1.5倍（$1.6B vs $1.1B），Idexx Laboratories净利率更高（22.8% vs 3.5%，领先19.3%），Idexx Laboratories同比增速更快（14.3% vs -7.5%），Idexx Laboratories自由现金流更多（$326.3M vs $135.6M），过去两年Idexx Laboratories的营收复合增速更高（6.4% vs 2.2%）
IDEXX Laboratories是1983年成立的美国跨国企业，主营伴侣动物诊疗、畜禽养殖、水质检测、乳制品领域相关产品与服务的研发、生产及分销，总部位于缅因州韦斯特布鲁克，欧洲、中东及非洲地区分部设于荷兰霍夫多普。
帕森斯公司是一家总部位于美国弗吉尼亚州尚蒂利的跨国企业，1944年成立，核心业务覆盖国防、情报、基础设施工程领域，深耕技术研发，在全球30多个国家为政府及私营部门客户提供专业解决方案。
IDXX vs PSN — 直观对比
营收规模更大
PSN
是对方的1.5倍
$1.1B
营收增速更快
IDXX
高出21.8%
-7.5%
净利率更高
IDXX
高出19.3%
3.5%
自由现金流更多
IDXX
多$190.7M
$135.6M
两年增速更快
IDXX
近两年复合增速
2.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.6B |
| 净利润 | $248.2M | $55.6M |
| 毛利率 | 60.3% | 23.0% |
| 营业利润率 | 28.9% | 6.6% |
| 净利率 | 22.8% | 3.5% |
| 营收同比 | 14.3% | -7.5% |
| 净利润同比 | 14.8% | -72.4% |
| 每股收益（稀释后） | $3.09 | $0.51 |
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IDXXPSN
| Q4 25 | $1.1B | $1.6B | ||
| Q3 25 | $1.1B | $1.6B | ||
| Q2 25 | $1.1B | $1.6B | ||
| Q1 25 | $998.4M | $1.6B | ||
| Q4 24 | $954.3M | $1.7B | ||
| Q3 24 | $975.5M | $1.8B | ||
| Q2 24 | $1.0B | $1.7B | ||
| Q1 24 | $964.1M | $1.5B |
净利润IDXXPSN
| Q4 25 | $248.2M | $55.6M | ||
| Q3 25 | $274.6M | $64.1M | ||
| Q2 25 | $294.0M | $55.2M | ||
| Q1 25 | $242.7M | $66.2M | ||
| Q4 24 | $216.1M | $201.3M | ||
| Q3 24 | $232.8M | $72.0M | ||
| Q2 24 | $203.3M | $69.2M | ||
| Q1 24 | $235.6M | $-107.4M |
毛利率IDXXPSN
| Q4 25 | 60.3% | 23.0% | ||
| Q3 25 | 61.8% | 22.2% | ||
| Q2 25 | 62.6% | 22.0% | ||
| Q1 25 | 62.4% | 22.8% | ||
| Q4 24 | 59.8% | 21.3% | ||
| Q3 24 | 61.1% | 19.9% | ||
| Q2 24 | 61.7% | 21.0% | ||
| Q1 24 | 61.5% | 21.2% |
营业利润率IDXXPSN
| Q4 25 | 28.9% | 6.6% | ||
| Q3 25 | 32.1% | 6.7% | ||
| Q2 25 | 33.6% | 6.0% | ||
| Q1 25 | 31.7% | 7.0% | ||
| Q4 24 | 27.4% | 5.8% | ||
| Q3 24 | 31.2% | 6.4% | ||
| Q2 24 | 26.3% | 6.7% | ||
| Q1 24 | 31.0% | 6.6% |
净利率IDXXPSN
| Q4 25 | 22.8% | 3.5% | ||
| Q3 25 | 24.8% | 4.0% | ||
| Q2 25 | 26.5% | 3.5% | ||
| Q1 25 | 24.3% | 4.3% | ||
| Q4 24 | 22.7% | 11.6% | ||
| Q3 24 | 23.9% | 4.0% | ||
| Q2 24 | 20.3% | 4.1% | ||
| Q1 24 | 24.4% | -7.0% |
每股收益（稀释后）IDXXPSN
| Q4 25 | $3.09 | $0.51 | ||
| Q3 25 | $3.40 | $0.59 | ||
| Q2 25 | $3.63 | $0.50 | ||
| Q1 25 | $2.96 | $0.60 | ||
| Q4 24 | $2.62 | $1.85 | ||
| Q3 24 | $2.80 | $0.65 | ||
| Q2 24 | $2.44 | $0.63 | ||
| Q1 24 | $2.81 | $-1.01 |
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 | $180.1M | $466.4M |
| 总债务越低越好 | $450.0M | $1.2B |
| 股东权益账面价值 | $1.6B | $2.6B |
| 总资产 | $3.4B | $5.8B |
| 负债/权益比越低杠杆越低 | 0.28× | 0.47× |
8季度趋势，按日历期对齐
现金及短期投资IDXXPSN
| Q4 25 | $180.1M | $466.4M | ||
| Q3 25 | $208.2M | $422.6M | ||
| Q2 25 | $164.6M | $411.3M | ||
| Q1 25 | $164.0M | $269.7M | ||
| Q4 24 | $288.3M | $453.5M | ||
| Q3 24 | $308.6M | $558.8M | ||
| Q2 24 | $401.6M | $528.5M | ||
| Q1 24 | $397.4M | $423.1M |
总债务IDXXPSN
| Q4 25 | $450.0M | $1.2B | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $785.2M | ||
| Q4 24 | $617.8M | $784.1M | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $1.2B |
股东权益IDXXPSN
| Q4 25 | $1.6B | $2.6B | ||
| Q3 25 | $1.6B | $2.6B | ||
| Q2 25 | $1.5B | $2.5B | ||
| Q1 25 | $1.4B | $2.5B | ||
| Q4 24 | $1.6B | $2.4B | ||
| Q3 24 | $1.6B | $2.3B | ||
| Q2 24 | $1.6B | $2.2B | ||
| Q1 24 | $1.6B | $2.1B |
总资产IDXXPSN
| Q4 25 | $3.4B | $5.8B | ||
| Q3 25 | $3.4B | $5.7B | ||
| Q2 25 | $3.3B | $5.7B | ||
| Q1 25 | $3.2B | $5.4B | ||
| Q4 24 | $3.3B | $5.5B | ||
| Q3 24 | $3.4B | $5.4B | ||
| Q2 24 | $3.4B | $5.2B | ||
| Q1 24 | $3.4B | $5.1B |
负债/权益比IDXXPSN
| Q4 25 | 0.28× | 0.47× | ||
| Q3 25 | — | 0.48× | ||
| Q2 25 | — | 0.49× | ||
| Q1 25 | — | 0.32× | ||
| Q4 24 | 0.39× | 0.32× | ||
| Q3 24 | — | 0.49× | ||
| Q2 24 | — | 0.56× | ||
| Q1 24 | — | 0.58× |
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 | $355.8M | $167.5M |
| 自由现金流经营现金流 - 资本支出 | $326.3M | $135.6M |
| 自由现金流率自由现金流/营收 | 29.9% | 8.5% |
| 资本支出强度资本支出/营收 | 2.7% | 2.0% |
| 现金转化率经营现金流/净利润 | 1.43× | 3.01× |
| 过去12个月自由现金流最近4个季度 | $1.1B | $410.4M |
8季度趋势，按日历期对齐
经营现金流IDXXPSN
| Q4 25 | $355.8M | $167.5M | ||
| Q3 25 | $402.3M | $162.8M | ||
| Q2 25 | $185.7M | $159.8M | ||
| Q1 25 | $238.0M | $-11.8M | ||
| Q4 24 | $262.0M | $126.8M | ||
| Q3 24 | $220.1M | $299.0M | ||
| Q2 24 | $248.3M | $161.2M | ||
| Q1 24 | $198.6M | $-63.4M |
自由现金流IDXXPSN
| Q4 25 | $326.3M | $135.6M | ||
| Q3 25 | $371.2M | $149.7M | ||
| Q2 25 | $151.6M | $150.4M | ||
| Q1 25 | $207.9M | $-25.3M | ||
| Q4 24 | $232.8M | $108.0M | ||
| Q3 24 | $192.0M | $287.3M | ||
| Q2 24 | $215.0M | $152.0M | ||
| Q1 24 | $168.3M | $-72.9M |
自由现金流率IDXXPSN
| Q4 25 | 29.9% | 8.5% | ||
| Q3 25 | 33.6% | 9.2% | ||
| Q2 25 | 13.7% | 9.5% | ||
| Q1 25 | 20.8% | -1.6% | ||
| Q4 24 | 24.4% | 6.2% | ||
| Q3 24 | 19.7% | 15.9% | ||
| Q2 24 | 21.4% | 9.1% | ||
| Q1 24 | 17.5% | -4.7% |
资本支出强度IDXXPSN
| Q4 25 | 2.7% | 2.0% | ||
| Q3 25 | 2.8% | 0.8% | ||
| Q2 25 | 3.1% | 0.6% | ||
| Q1 25 | 3.0% | 0.9% | ||
| Q4 24 | 3.1% | 1.1% | ||
| Q3 24 | 2.9% | 0.6% | ||
| Q2 24 | 3.3% | 0.6% | ||
| Q1 24 | 3.1% | 0.6% |
现金转化率IDXXPSN
| Q4 25 | 1.43× | 3.01× | ||
| Q3 25 | 1.47× | 2.54× | ||
| Q2 25 | 0.63× | 2.89× | ||
| Q1 25 | 0.98× | -0.18× | ||
| Q4 24 | 1.21× | 0.63× | ||
| Q3 24 | 0.95× | 4.16× | ||
| Q2 24 | 1.22× | 2.33× | ||
| Q1 24 | 0.84× | — |
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
IDXX
| Vet Lab Consumables | $389.0M | 36% |
| Reference Laboratory Diagnostic And Consulting Services | $349.2M | 32% |
| Rapid Assay Products | $76.0M | 7% |
| Recurring Revenue | $70.6M | 6% |
| CAG Diagnostic Capital Instruments | $58.1M | 5% |
| Water Segment | $50.5M | 5% |
| Livestock And Poultry Diagnostics Segment | $37.5M | 3% |
| CAG Diagnostics Service And Accessories | $35.3M | 3% |
| Systems And Hardware | $20.1M | 2% |
| Rebate And Up Front Considerations Arrangements | $2.4M | 0% |
| Extended Warranties And Post Contract Support Revenue | $1.0M | 0% |
PSN
| Unconsolidated Joint Ventures | $582.1M | 36% |
| Defense And Intelligence | $502.8M | 31% |
| Engineered Systems | $281.4M | 18% |
| Consolidated Joint Ventures | $216.7M | 14% |
| TRS Group Inc | $9.4M | 1% |
