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梅西百货（M）与Workday, Inc.（WDAY）财务数据对比。点击上方公司名可切换其他公司
梅西百货的季度营收约是Workday, Inc.的1.9倍（$4.7B vs $2.4B），Workday, Inc.净利率更高（10.4% vs 0.2%，领先10.1%），Workday, Inc.同比增速更快（12.6% vs -0.6%），Workday, Inc.自由现金流更多（$550.0M vs $-101.0M），过去两年Workday, Inc.的营收复合增速更高（12.5% vs -23.8%）
梅西百货是美国知名百货控股集团，1929年成立时名为联合百货，最初持有Abraham & Straus、Lazarus等多个区域连锁百货品牌，次年布鲁明戴尔正式加入。集团早年频繁开展资产并购与剥离，1994年收购1858年创立的老牌百货梅西，随后更名并发展为美国头部百货零售企业。
Workday是全球领先的企业级云软件供应商，核心产品覆盖人力资本管理、财务管理及企业资源规划解决方案，主要服务教育、医疗、金融、科技等行业的中大型机构，业务遍布北美、欧洲、亚太等全球主要市场。
M vs WDAY — 直观对比
营收规模更大
M
是对方的1.9倍
$2.4B
营收增速更快
WDAY
高出13.2%
-0.6%
净利率更高
WDAY
高出10.1%
0.2%
自由现金流更多
WDAY
多$651.0M
$-101.0M
两年增速更快
WDAY
近两年复合增速
-23.8%
损益表 — Q3 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $4.7B | $2.4B |
| 净利润 | $11.0M | $252.0M |
| 毛利率 | 39.4% | — |
| 营业利润率 | 0.9% | 10.6% |
| 净利率 | 0.2% | 10.4% |
| 营收同比 | -0.6% | 12.6% |
| 净利润同比 | -60.7% | 30.6% |
| 每股收益（稀释后） | $0.04 | $0.94 |
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MWDAY
| Q4 25 | $4.7B | $2.4B | ||
| Q3 25 | $4.8B | $2.3B | ||
| Q2 25 | $4.6B | $2.2B | ||
| Q1 25 | $7.8B | $2.2B | ||
| Q4 24 | $4.7B | $2.2B | ||
| Q3 24 | $4.9B | $2.1B | ||
| Q2 24 | $4.8B | $2.0B | ||
| Q1 24 | $8.1B | $1.9B |
净利润MWDAY
| Q4 25 | $11.0M | $252.0M | ||
| Q3 25 | $87.0M | $228.0M | ||
| Q2 25 | $38.0M | $68.0M | ||
| Q1 25 | $342.0M | $94.0M | ||
| Q4 24 | $28.0M | $193.0M | ||
| Q3 24 | $150.0M | $132.0M | ||
| Q2 24 | $62.0M | $107.0M | ||
| Q1 24 | $-71.0M | $1.2B |
毛利率MWDAY
| Q4 25 | 39.4% | — | ||
| Q3 25 | 39.7% | — | ||
| Q2 25 | 39.2% | — | ||
| Q1 25 | 35.7% | — | ||
| Q4 24 | 39.6% | — | ||
| Q3 24 | 40.5% | — | ||
| Q2 24 | 39.2% | — | ||
| Q1 24 | 37.5% | — |
营业利润率MWDAY
| Q4 25 | 0.9% | 10.6% | ||
| Q3 25 | 3.1% | 10.6% | ||
| Q2 25 | 2.0% | 1.7% | ||
| Q1 25 | 6.4% | 3.4% | ||
| Q4 24 | 1.3% | 7.6% | ||
| Q3 24 | 4.5% | 5.3% | ||
| Q2 24 | 2.6% | 3.2% | ||
| Q1 24 | -0.9% | 4.1% |
净利率MWDAY
| Q4 25 | 0.2% | 10.4% | ||
| Q3 25 | 1.8% | 9.7% | ||
| Q2 25 | 0.8% | 3.0% | ||
| Q1 25 | 4.4% | 4.3% | ||
| Q4 24 | 0.6% | 8.9% | ||
| Q3 24 | 3.0% | 6.3% | ||
| Q2 24 | 1.3% | 5.4% | ||
| Q1 24 | -0.9% | 61.8% |
每股收益（稀释后）MWDAY
| Q4 25 | $0.04 | $0.94 | ||
| Q3 25 | $0.31 | $0.84 | ||
| Q2 25 | $0.13 | $0.25 | ||
| Q1 25 | $1.22 | $0.34 | ||
| Q4 24 | $0.10 | $0.72 | ||
| Q3 24 | $0.53 | $0.49 | ||
| Q2 24 | $0.22 | $0.40 | ||
| Q1 24 | $-0.25 | $4.48 |
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 | $447.0M | $6.8B |
| 总债务越低越好 | $2.4B | — |
| 股东权益账面价值 | $4.3B | $8.9B |
| 总资产 | $17.1B | $17.8B |
| 负债/权益比越低杠杆越低 | 0.56× | — |
8季度趋势，按日历期对齐
现金及短期投资MWDAY
| Q4 25 | $447.0M | $6.8B | ||
| Q3 25 | $829.0M | $8.2B | ||
| Q2 25 | $932.0M | $8.0B | ||
| Q1 25 | $1.3B | $8.0B | ||
| Q4 24 | $315.0M | $7.2B | ||
| Q3 24 | $646.0M | $7.4B | ||
| Q2 24 | $876.0M | $7.2B | ||
| Q1 24 | $1.0B | $7.8B |
总债务MWDAY
| Q4 25 | $2.4B | — | ||
| Q3 25 | $2.4B | — | ||
| Q2 25 | $2.8B | — | ||
| Q1 25 | $2.8B | — | ||
| Q4 24 | $2.8B | — | ||
| Q3 24 | $3.0B | — | ||
| Q2 24 | $3.0B | $3.0B | ||
| Q1 24 | $3.0B | $3.0B |
股东权益MWDAY
| Q4 25 | $4.3B | $8.9B | ||
| Q3 25 | $4.5B | $9.2B | ||
| Q2 25 | $4.5B | $8.9B | ||
| Q1 25 | $4.6B | $9.0B | ||
| Q4 24 | $4.1B | $8.6B | ||
| Q3 24 | $4.3B | $8.3B | ||
| Q2 24 | $4.2B | $8.2B | ||
| Q1 24 | $4.1B | $8.1B |
总资产MWDAY
| Q4 25 | $17.1B | $17.8B | ||
| Q3 25 | $15.6B | $18.0B | ||
| Q2 25 | $16.1B | $17.2B | ||
| Q1 25 | $16.4B | $18.0B | ||
| Q4 24 | $17.3B | $16.4B | ||
| Q3 24 | $15.8B | $16.2B | ||
| Q2 24 | $16.4B | $15.9B | ||
| Q1 24 | $16.2B | $16.5B |
负债/权益比MWDAY
| Q4 25 | 0.56× | — | ||
| Q3 25 | 0.55× | — | ||
| Q2 25 | 0.62× | — | ||
| Q1 25 | 0.61× | — | ||
| Q4 24 | 0.67× | — | ||
| Q3 24 | 0.70× | — | ||
| Q2 24 | 0.72× | 0.37× | ||
| Q1 24 | 0.72× | 0.37× |
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 | $-8.0M | $588.0M |
| 自由现金流经营现金流 - 资本支出 | $-101.0M | $550.0M |
| 自由现金流率自由现金流/营收 | -2.1% | 22.6% |
| 资本支出强度资本支出/营收 | 2.0% | 1.6% |
| 现金转化率经营现金流/净利润 | -0.73× | 2.33× |
| 过去12个月自由现金流最近4个季度 | $1.2B | $2.6B |
8季度趋势，按日历期对齐
经营现金流MWDAY
| Q4 25 | $-8.0M | $588.0M | ||
| Q3 25 | $319.0M | $616.0M | ||
| Q2 25 | $-64.0M | $457.0M | ||
| Q1 25 | $1.3B | $1.1B | ||
| Q4 24 | $-167.0M | $406.0M | ||
| Q3 24 | $8.0M | $571.0M | ||
| Q2 24 | $129.0M | $372.0M | ||
| Q1 24 | $1.1B | $995.6M |
自由现金流MWDAY
| Q4 25 | $-101.0M | $550.0M | ||
| Q3 25 | $240.0M | $588.0M | ||
| Q2 25 | $-164.0M | $421.0M | ||
| Q1 25 | $1.2B | $1.0B | ||
| Q4 24 | $-295.0M | $359.0M | ||
| Q3 24 | $-109.0M | $516.0M | ||
| Q2 24 | $-25.0M | $291.0M | ||
| Q1 24 | $1.0B | $947.6M |
自由现金流率MWDAY
| Q4 25 | -2.1% | 22.6% | ||
| Q3 25 | 5.0% | 25.0% | ||
| Q2 25 | -3.6% | 18.8% | ||
| Q1 25 | 15.3% | 46.4% | ||
| Q4 24 | -6.2% | 16.6% | ||
| Q3 24 | -2.2% | 24.7% | ||
| Q2 24 | -0.5% | 14.6% | ||
| Q1 24 | 12.3% | 49.3% |
资本支出强度MWDAY
| Q4 25 | 2.0% | 1.6% | ||
| Q3 25 | 1.6% | 1.2% | ||
| Q2 25 | 2.2% | 1.6% | ||
| Q1 25 | 1.5% | 3.9% | ||
| Q4 24 | 2.7% | 2.2% | ||
| Q3 24 | 2.4% | 2.6% | ||
| Q2 24 | 3.2% | 4.1% | ||
| Q1 24 | 1.8% | 2.5% |
现金转化率MWDAY
| Q4 25 | -0.73× | 2.33× | ||
| Q3 25 | 3.67× | 2.70× | ||
| Q2 25 | -1.68× | 6.72× | ||
| Q1 25 | 3.82× | 11.83× | ||
| Q4 24 | -5.96× | 2.10× | ||
| Q3 24 | 0.05× | 4.33× | ||
| Q2 24 | 2.08× | 3.48× | ||
| 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
M
| Womens Accessories Shoes Cosmetics And Fragrances | $1.9B | 41% |
| Womens Apparel | $1.1B | 23% |
| Mens And Kids | $1.0B | 22% |
| Home Other | $638.0M | 14% |
| Credit Card Revenues Net | $158.0M | 3% |
| Macys Media Network Revenue Net | $42.0M | 1% |
WDAY
| Subscription Services | $2.2B | 92% |
| Professional Services | $188.0M | 8% |
