vs
LCI INDUSTRIES（LCII）与明晟（MSCI）财务数据对比。点击上方公司名可切换其他公司
LCI INDUSTRIES的季度营收约是明晟的1.1倍（$932.7M vs $822.5M），明晟净利率更高（34.6% vs 2.0%，领先32.6%），LCI INDUSTRIES同比增速更快（16.1% vs 10.6%），明晟自由现金流更多（$488.7M vs $64.3M），过去两年明晟的营收复合增速更高（10.0% vs -1.8%）
拉奇核心工业有限公司前身为巴基斯坦帝国化学工业公司，是一家总部位于卡拉奇的巴基斯坦综合性企业集团，业务覆盖聚酯、医药、农用化学品、纯碱及兽药等多品类产品的研发生产，在巴基斯坦本土工业领域拥有重要市场地位。
MSCI（明晟）是总部位于美国纽约的金融服务企业，为全球市场提供股票、固定收益、房地产指数、多资产组合分析工具及ESG、气候金融相关产品，旗下运营MSCI全球指数、MSCI新兴市场指数、MSCI全球所有国家（ACWI）指数等多款知名指数产品。
LCII vs MSCI — 直观对比
营收规模更大
LCII
是对方的1.1倍
$822.5M
营收增速更快
LCII
高出5.5%
10.6%
净利率更高
MSCI
高出32.6%
2.0%
自由现金流更多
MSCI
多$424.4M
$64.3M
两年增速更快
MSCI
近两年复合增速
-1.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $932.7M | $822.5M |
| 净利润 | $18.7M | $284.7M |
| 毛利率 | 22.1% | — |
| 营业利润率 | 3.8% | 56.4% |
| 净利率 | 2.0% | 34.6% |
| 营收同比 | 16.1% | 10.6% |
| 净利润同比 | 95.7% | -6.8% |
| 每股收益（稀释后） | $0.79 | $3.81 |
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LCIIMSCI
| Q4 25 | $932.7M | $822.5M | ||
| Q3 25 | $1.0B | $793.4M | ||
| Q2 25 | $1.1B | $772.7M | ||
| Q1 25 | $1.0B | $745.8M | ||
| Q4 24 | $803.1M | $743.5M | ||
| Q3 24 | $915.5M | $724.7M | ||
| Q2 24 | $1.1B | $707.9M | ||
| Q1 24 | $968.0M | $680.0M |
净利润LCIIMSCI
| Q4 25 | $18.7M | $284.7M | ||
| Q3 25 | $62.5M | $325.4M | ||
| Q2 25 | $57.6M | $303.6M | ||
| Q1 25 | $49.4M | $288.6M | ||
| Q4 24 | $9.5M | $305.5M | ||
| Q3 24 | $35.6M | $280.9M | ||
| Q2 24 | $61.2M | $266.8M | ||
| Q1 24 | $36.5M | $256.0M |
毛利率LCIIMSCI
| Q4 25 | 22.1% | — | ||
| Q3 25 | 24.4% | — | ||
| Q2 25 | 24.4% | — | ||
| Q1 25 | 24.1% | — | ||
| Q4 24 | 21.1% | — | ||
| Q3 24 | 24.0% | — | ||
| Q2 24 | 25.3% | — | ||
| Q1 24 | 23.1% | — |
营业利润率LCIIMSCI
| Q4 25 | 3.8% | 56.4% | ||
| Q3 25 | 7.3% | 56.4% | ||
| Q2 25 | 7.9% | 55.0% | ||
| Q1 25 | 7.8% | 50.6% | ||
| Q4 24 | 2.0% | 54.5% | ||
| Q3 24 | 5.9% | 55.4% | ||
| Q2 24 | 8.6% | 54.0% | ||
| Q1 24 | 6.0% | 49.9% |
净利率LCIIMSCI
| Q4 25 | 2.0% | 34.6% | ||
| Q3 25 | 6.0% | 41.0% | ||
| Q2 25 | 5.2% | 39.3% | ||
| Q1 25 | 4.7% | 38.7% | ||
| Q4 24 | 1.2% | 41.1% | ||
| Q3 24 | 3.9% | 38.8% | ||
| Q2 24 | 5.8% | 37.7% | ||
| Q1 24 | 3.8% | 37.6% |
每股收益（稀释后）LCIIMSCI
| Q4 25 | $0.79 | $3.81 | ||
| Q3 25 | $2.55 | $4.25 | ||
| Q2 25 | $2.29 | $3.92 | ||
| Q1 25 | $1.94 | $3.71 | ||
| Q4 24 | $0.37 | $3.89 | ||
| Q3 24 | $1.39 | $3.57 | ||
| Q2 24 | $2.40 | $3.37 | ||
| Q1 24 | $1.44 | $3.22 |
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 | $222.6M | $515.3M |
| 总债务越低越好 | $945.2M | $6.2B |
| 股东权益账面价值 | $1.4B | $-2.7B |
| 总资产 | $3.2B | $5.7B |
| 负债/权益比越低杠杆越低 | 0.69× | — |
8季度趋势，按日历期对齐
现金及短期投资LCIIMSCI
| Q4 25 | $222.6M | $515.3M | ||
| Q3 25 | $199.7M | $400.1M | ||
| Q2 25 | $191.9M | $347.3M | ||
| Q1 25 | $231.2M | $360.7M | ||
| Q4 24 | $165.8M | $409.4M | ||
| Q3 24 | $161.2M | $501.0M | ||
| Q2 24 | $130.4M | $451.4M | ||
| Q1 24 | $22.6M | $519.3M |
总债务LCIIMSCI
| Q4 25 | $945.2M | $6.2B | ||
| Q3 25 | $947.8M | $5.5B | ||
| Q2 25 | $948.0M | $4.5B | ||
| Q1 25 | $938.3M | $4.5B | ||
| Q4 24 | $757.3M | $4.5B | ||
| Q3 24 | $822.5M | $4.5B | ||
| Q2 24 | $829.7M | $4.5B | ||
| Q1 24 | $855.3M | $4.5B |
股东权益LCIIMSCI
| Q4 25 | $1.4B | $-2.7B | ||
| Q3 25 | $1.4B | $-1.9B | ||
| Q2 25 | $1.4B | $-886.2M | ||
| Q1 25 | $1.4B | $-958.6M | ||
| Q4 24 | $1.4B | $-940.0M | ||
| Q3 24 | $1.4B | $-751.0M | ||
| Q2 24 | $1.4B | $-734.5M | ||
| Q1 24 | $1.4B | $-650.5M |
总资产LCIIMSCI
| Q4 25 | $3.2B | $5.7B | ||
| Q3 25 | $3.2B | $5.4B | ||
| Q2 25 | $3.2B | $5.4B | ||
| Q1 25 | $3.1B | $5.3B | ||
| Q4 24 | $2.9B | $5.4B | ||
| Q3 24 | $3.0B | $5.4B | ||
| Q2 24 | $3.0B | $5.5B | ||
| Q1 24 | $3.0B | $5.5B |
负债/权益比LCIIMSCI
| Q4 25 | 0.69× | — | ||
| Q3 25 | 0.70× | — | ||
| Q2 25 | 0.68× | — | ||
| Q1 25 | 0.69× | — | ||
| Q4 24 | 0.55× | — | ||
| Q3 24 | 0.58× | — | ||
| Q2 24 | 0.60× | — | ||
| Q1 24 | 0.63× | — |
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 | $78.9M | $501.1M |
| 自由现金流经营现金流 - 资本支出 | $64.3M | $488.7M |
| 自由现金流率自由现金流/营收 | 6.9% | 59.4% |
| 资本支出强度资本支出/营收 | 1.6% | 1.5% |
| 现金转化率经营现金流/净利润 | 4.22× | 1.76× |
| 过去12个月自由现金流最近4个季度 | $278.3M | $1.5B |
8季度趋势，按日历期对齐
经营现金流LCIIMSCI
| Q4 25 | $78.9M | $501.1M | ||
| Q3 25 | $97.2M | $449.4M | ||
| Q2 25 | $112.2M | $336.1M | ||
| Q1 25 | $42.7M | $301.7M | ||
| Q4 24 | $106.6M | $430.6M | ||
| Q3 24 | $78.4M | $421.6M | ||
| Q2 24 | $192.9M | $349.2M | ||
| Q1 24 | $-7.7M | $300.1M |
自由现金流LCIIMSCI
| Q4 25 | $64.3M | $488.7M | ||
| Q3 25 | $80.9M | $445.5M | ||
| Q2 25 | $99.5M | $324.7M | ||
| Q1 25 | $33.7M | $290.2M | ||
| Q4 24 | $95.7M | $416.4M | ||
| Q3 24 | $68.3M | $415.0M | ||
| Q2 24 | $180.2M | $340.6M | ||
| Q1 24 | $-16.3M | $295.9M |
自由现金流率LCIIMSCI
| Q4 25 | 6.9% | 59.4% | ||
| Q3 25 | 7.8% | 56.2% | ||
| Q2 25 | 9.0% | 42.0% | ||
| Q1 25 | 3.2% | 38.9% | ||
| Q4 24 | 11.9% | 56.0% | ||
| Q3 24 | 7.5% | 57.3% | ||
| Q2 24 | 17.1% | 48.1% | ||
| Q1 24 | -1.7% | 43.5% |
资本支出强度LCIIMSCI
| Q4 25 | 1.6% | 1.5% | ||
| Q3 25 | 1.6% | 0.5% | ||
| Q2 25 | 1.2% | 1.5% | ||
| Q1 25 | 0.9% | 1.5% | ||
| Q4 24 | 1.4% | 1.9% | ||
| Q3 24 | 1.1% | 0.9% | ||
| Q2 24 | 1.2% | 1.2% | ||
| Q1 24 | 0.9% | 0.6% |
现金转化率LCIIMSCI
| Q4 25 | 4.22× | 1.76× | ||
| Q3 25 | 1.55× | 1.38× | ||
| Q2 25 | 1.95× | 1.11× | ||
| Q1 25 | 0.86× | 1.05× | ||
| Q4 24 | 11.17× | 1.41× | ||
| Q3 24 | 2.20× | 1.50× | ||
| Q2 24 | 3.15× | 1.31× | ||
| Q1 24 | -0.21× | 1.17× |
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
LCII
| Travel Trailer And Fifth Wheels | $378.4M | 41% |
| Chassis Chassis Partsand Slideout Mechanisms | $206.1M | 22% |
| Furnitureand Mattresses | $120.4M | 13% |
| Appliances | $69.9M | 7% |
| Other Products | $69.1M | 7% |
| Axlesand Suspension Solutions | $62.3M | 7% |
| Motorhomes | $34.2M | 4% |
MSCI
| Recurring Subscriptions | $246.4M | 30% |
| Asset Based Fees | $211.7M | 26% |
| Analytics Segment | $182.3M | 22% |
| Sustainability And Climate Segment | $90.3M | 11% |
| Other | $70.9M | 9% |
| Non Recurring | $21.1M | 3% |
