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雷诺士国际（LII）与SCANSOURCE, INC.（SCSC）财务数据对比。点击上方公司名可切换其他公司
雷诺士国际的季度营收约是SCANSOURCE, INC.的1.6倍（$1.2B vs $766.5M），雷诺士国际净利率更高（13.6% vs 2.2%，领先11.4%），SCANSOURCE, INC.同比增速更快（2.5% vs -11.2%），雷诺士国际自由现金流更多（$376.7M vs $28.9M），过去两年雷诺士国际的营收复合增速更高（6.8% vs 0.9%）
雷诺士国际是美国知名的暖通空调（HVAC）及制冷领域气候控制产品供应商，总部位于得克萨斯州理查森。公司在墨西哥萨尔蒂约、美国爱荷华州马歇尔敦、南卡罗来纳州奥兰治堡设有核心生产基地，1904年收购公司的诺里斯家族后裔约翰·W·诺里斯三世持有其9.8%的股份。
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。
LII vs SCSC — 直观对比
营收规模更大
LII
是对方的1.6倍
$766.5M
营收增速更快
SCSC
高出13.7%
-11.2%
净利率更高
LII
高出11.4%
2.2%
自由现金流更多
LII
多$347.8M
$28.9M
两年增速更快
LII
近两年复合增速
0.9%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $766.5M |
| 净利润 | $162.1M | $16.5M |
| 毛利率 | 34.7% | 13.4% |
| 营业利润率 | 18.6% | 2.3% |
| 净利率 | 13.6% | 2.2% |
| 营收同比 | -11.2% | 2.5% |
| 净利润同比 | -18.0% | -3.3% |
| 每股收益（稀释后） | $4.62 | $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LIISCSC
| Q4 25 | $1.2B | $766.5M | ||
| Q3 25 | $1.4B | $739.6M | ||
| Q2 25 | $1.5B | $812.9M | ||
| Q1 25 | $1.1B | $704.8M | ||
| Q4 24 | $1.3B | $747.5M | ||
| Q3 24 | $1.5B | $775.6M | ||
| Q2 24 | $1.5B | $746.1M | ||
| Q1 24 | $1.0B | $752.6M |
净利润LIISCSC
| Q4 25 | $162.1M | $16.5M | ||
| Q3 25 | $245.8M | $19.9M | ||
| Q2 25 | $277.6M | $20.1M | ||
| Q1 25 | $120.3M | $17.4M | ||
| Q4 24 | $197.7M | $17.1M | ||
| Q3 24 | $239.0M | $17.0M | ||
| Q2 24 | $245.9M | $16.1M | ||
| Q1 24 | $124.3M | $12.8M |
毛利率LIISCSC
| Q4 25 | 34.7% | 13.4% | ||
| Q3 25 | 32.8% | 14.5% | ||
| Q2 25 | 34.8% | 12.9% | ||
| Q1 25 | 30.6% | 14.2% | ||
| Q4 24 | 33.9% | 13.6% | ||
| Q3 24 | 32.6% | 13.1% | ||
| Q2 24 | 33.6% | 13.0% | ||
| Q1 24 | 32.5% | 12.6% |
营业利润率LIISCSC
| Q4 25 | 18.6% | 2.3% | ||
| Q3 25 | 21.7% | 3.5% | ||
| Q2 25 | 23.6% | 3.3% | ||
| Q1 25 | 14.5% | 3.2% | ||
| Q4 24 | 18.2% | 2.5% | ||
| Q3 24 | 20.2% | 2.3% | ||
| Q2 24 | 22.1% | 2.9% | ||
| Q1 24 | 15.9% | 2.3% |
净利率LIISCSC
| Q4 25 | 13.6% | 2.2% | ||
| Q3 25 | 17.2% | 2.7% | ||
| Q2 25 | 18.5% | 2.5% | ||
| Q1 25 | 11.2% | 2.5% | ||
| Q4 24 | 14.7% | 2.3% | ||
| Q3 24 | 16.0% | 2.2% | ||
| Q2 24 | 16.9% | 2.2% | ||
| Q1 24 | 11.9% | 1.7% |
每股收益（稀释后）LIISCSC
| Q4 25 | $4.62 | $0.75 | ||
| Q3 25 | $6.98 | $0.89 | ||
| Q2 25 | $7.82 | $0.87 | ||
| Q1 25 | $3.37 | $0.74 | ||
| Q4 24 | $5.52 | $0.70 | ||
| Q3 24 | $6.68 | $0.69 | ||
| Q2 24 | $6.87 | $0.66 | ||
| Q1 24 | $3.47 | $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 | $34.7M | $83.5M |
| 总债务越低越好 | $1.1B | — |
| 股东权益账面价值 | $1.2B | $910.9M |
| 总资产 | $4.1B | $1.7B |
| 负债/权益比越低杠杆越低 | 0.98× | — |
8季度趋势，按日历期对齐
现金及短期投资LIISCSC
| Q4 25 | $34.7M | $83.5M | ||
| Q3 25 | $59.2M | $124.9M | ||
| Q2 25 | $55.1M | $126.2M | ||
| Q1 25 | $222.9M | $146.3M | ||
| Q4 24 | $422.3M | $110.5M | ||
| Q3 24 | $255.7M | $145.0M | ||
| Q2 24 | $57.8M | $185.5M | ||
| Q1 24 | $57.6M | $159.1M |
总债务LIISCSC
| Q4 25 | $1.1B | — | ||
| Q3 25 | $838.2M | — | ||
| Q2 25 | $835.7M | — | ||
| Q1 25 | $834.2M | — | ||
| Q4 24 | $833.1M | — | ||
| Q3 24 | $827.6M | — | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $1.2B | — |
股东权益LIISCSC
| Q4 25 | $1.2B | $910.9M | ||
| Q3 25 | $1.1B | $914.0M | ||
| Q2 25 | $900.5M | $906.4M | ||
| Q1 25 | $852.5M | $901.7M | ||
| Q4 24 | $850.2M | $900.7M | ||
| Q3 24 | $754.0M | $920.9M | ||
| Q2 24 | $577.4M | $924.3M | ||
| Q1 24 | $368.8M | $944.1M |
总资产LIISCSC
| Q4 25 | $4.1B | $1.7B | ||
| Q3 25 | $3.5B | $1.7B | ||
| Q2 25 | $3.7B | $1.8B | ||
| Q1 25 | $3.5B | $1.7B | ||
| Q4 24 | $3.5B | $1.7B | ||
| Q3 24 | $3.3B | $1.8B | ||
| Q2 24 | $3.2B | $1.8B | ||
| Q1 24 | $3.0B | $1.8B |
负债/权益比LIISCSC
| Q4 25 | 0.98× | — | ||
| Q3 25 | 0.78× | — | ||
| Q2 25 | 0.93× | — | ||
| Q1 25 | 0.98× | — | ||
| Q4 24 | 0.98× | — | ||
| Q3 24 | 1.10× | — | ||
| Q2 24 | 1.95× | — | ||
| Q1 24 | 3.13× | — |
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 | $405.9M | $30.8M |
| 自由现金流经营现金流 - 资本支出 | $376.7M | $28.9M |
| 自由现金流率自由现金流/营收 | 31.5% | 3.8% |
| 资本支出强度资本支出/营收 | 2.4% | 0.3% |
| 现金转化率经营现金流/净利润 | 2.50× | 1.87× |
| 过去12个月自由现金流最近4个季度 | $638.8M | — |
8季度趋势，按日历期对齐
经营现金流LIISCSC
| Q4 25 | $405.9M | $30.8M | ||
| Q3 25 | $300.7M | $23.2M | ||
| Q2 25 | $86.8M | — | ||
| Q1 25 | $-35.8M | $66.1M | ||
| Q4 24 | $332.4M | $-6.2M | ||
| Q3 24 | $452.1M | $44.8M | ||
| Q2 24 | $184.0M | — | ||
| Q1 24 | $-22.8M | $160.2M |
自由现金流LIISCSC
| Q4 25 | $376.7M | $28.9M | ||
| Q3 25 | $265.1M | $20.8M | ||
| Q2 25 | $58.3M | — | ||
| Q1 25 | $-61.3M | $64.6M | ||
| Q4 24 | $272.2M | $-8.2M | ||
| Q3 24 | $410.9M | $42.5M | ||
| Q2 24 | $151.3M | — | ||
| Q1 24 | $-52.3M | $157.7M |
自由现金流率LIISCSC
| Q4 25 | 31.5% | 3.8% | ||
| Q3 25 | 18.6% | 2.8% | ||
| Q2 25 | 3.9% | — | ||
| Q1 25 | -5.7% | 9.2% | ||
| Q4 24 | 20.2% | -1.1% | ||
| Q3 24 | 27.4% | 5.5% | ||
| Q2 24 | 10.4% | — | ||
| Q1 24 | -5.0% | 21.0% |
资本支出强度LIISCSC
| Q4 25 | 2.4% | 0.3% | ||
| Q3 25 | 2.5% | 0.3% | ||
| Q2 25 | 1.9% | 0.3% | ||
| Q1 25 | 2.4% | 0.2% | ||
| Q4 24 | 4.5% | 0.3% | ||
| Q3 24 | 2.8% | 0.3% | ||
| Q2 24 | 2.3% | 0.2% | ||
| Q1 24 | 2.8% | 0.3% |
现金转化率LIISCSC
| Q4 25 | 2.50× | 1.87× | ||
| Q3 25 | 1.22× | 1.17× | ||
| Q2 25 | 0.31× | — | ||
| Q1 25 | -0.30× | 3.79× | ||
| Q4 24 | 1.68× | -0.36× | ||
| Q3 24 | 1.89× | 2.64× | ||
| Q2 24 | 0.75× | — | ||
| Q1 24 | -0.18× | 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
LII
| Residential Heating And Cooling | $699.8M | 59% |
| Commercial Heating And Cooling | $495.2M | 41% |
SCSC
| Products And Services | $723.4M | 94% |
| Intelisys Advisory | $25.0M | 3% |
| Recurring Revenue | $18.2M | 2% |
