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万宝盛华（MAN）与美国合众银行（USB）财务数据对比。点击上方公司名可切换其他公司
美国合众银行的季度营收约是万宝盛华的1.6倍（$7.4B vs $4.7B），美国合众银行净利率更高（27.8% vs 0.6%，领先27.1%），万宝盛华同比增速更快（7.1% vs 5.1%），过去两年美国合众银行的营收复合增速更高（4.7% vs 3.5%）
万宝盛华集团是总部位于美国威斯康星州密尔沃基的跨国人力资源企业，由埃尔默·温特与亚伦·沙因费尔德于1948年创立，目前是全球第三大人力资源服务机构，规模仅次于瑞士德科与荷兰任仕达。集团通过万宝盛华、Experis、睿程、万宝盛华解决方案四大品牌，提供行政支持、专业咨询及各类商务服务。
美国合众银行是美国跨国银行机构，总部位于明尼苏达州明尼阿波利斯，在特拉华州注册成立。截至2025年为美国第五大银行，也是美国中西部规模最大的银行，被金融稳定委员会认定为系统重要性机构，旗下核心运营主体提供银行、投资、按揭等多元金融服务。
MAN vs USB — 直观对比
营收规模更大
USB
是对方的1.6倍
$4.7B
营收增速更快
MAN
高出2.0%
5.1%
净利率更高
USB
高出27.1%
0.6%
两年增速更快
USB
近两年复合增速
3.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.7B | $7.4B |
| 净利润 | $30.2M | $2.0B |
| 毛利率 | 16.3% | — |
| 营业利润率 | 1.7% | 34.4% |
| 净利率 | 0.6% | 27.8% |
| 营收同比 | 7.1% | 5.1% |
| 净利润同比 | 34.2% | 23.0% |
| 每股收益（稀释后） | $0.65 | $1.26 |
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MANUSB
| Q4 25 | $4.7B | $7.4B | ||
| Q3 25 | $4.6B | $7.3B | ||
| Q2 25 | $4.5B | $7.0B | ||
| Q1 25 | $4.1B | $7.0B | ||
| Q4 24 | $4.4B | $7.0B | ||
| Q3 24 | $4.5B | $6.9B | ||
| Q2 24 | $4.5B | $6.9B | ||
| Q1 24 | $4.4B | $6.7B |
净利润MANUSB
| Q4 25 | $30.2M | $2.0B | ||
| Q3 25 | $18.0M | $2.0B | ||
| Q2 25 | $-67.1M | $1.8B | ||
| Q1 25 | $5.6M | $1.7B | ||
| Q4 24 | $22.5M | $1.7B | ||
| Q3 24 | $22.8M | $1.7B | ||
| Q2 24 | $60.1M | $1.6B | ||
| Q1 24 | $39.7M | $1.3B |
毛利率MANUSB
| Q4 25 | 16.3% | — | ||
| Q3 25 | 16.6% | — | ||
| Q2 25 | 16.9% | — | ||
| Q1 25 | 17.1% | — | ||
| Q4 24 | 17.2% | — | ||
| Q3 24 | 17.3% | — | ||
| Q2 24 | 17.4% | — | ||
| Q1 24 | 17.3% | — |
营业利润率MANUSB
| Q4 25 | 1.7% | 34.4% | ||
| Q3 25 | 1.4% | 34.5% | ||
| Q2 25 | -0.6% | 32.7% | ||
| Q1 25 | 0.7% | 31.0% | ||
| Q4 24 | 1.6% | 30.1% | ||
| Q3 24 | 1.6% | 30.2% | ||
| Q2 24 | 2.2% | 29.9% | ||
| Q1 24 | 1.5% | 24.9% |
净利率MANUSB
| Q4 25 | 0.6% | 27.8% | ||
| Q3 25 | 0.4% | 27.3% | ||
| Q2 25 | -1.5% | 25.9% | ||
| Q1 25 | 0.1% | 24.6% | ||
| Q4 24 | 0.5% | 23.7% | ||
| Q3 24 | 0.5% | 25.0% | ||
| Q2 24 | 1.3% | 23.3% | ||
| Q1 24 | 0.9% | 19.6% |
每股收益（稀释后）MANUSB
| Q4 25 | $0.65 | $1.26 | ||
| Q3 25 | $0.38 | $1.22 | ||
| Q2 25 | $-1.44 | $1.11 | ||
| Q1 25 | $0.12 | $1.03 | ||
| Q4 24 | $0.49 | $1.01 | ||
| Q3 24 | $0.47 | $1.03 | ||
| Q2 24 | $1.24 | $0.97 | ||
| Q1 24 | $0.81 | $0.78 |
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 | $871.0M | — |
| 总债务越低越好 | $1.1B | — |
| 股东权益账面价值 | $2.1B | $65.2B |
| 总资产 | $9.2B | $692.3B |
| 负债/权益比越低杠杆越低 | 0.51× | — |
8季度趋势，按日历期对齐
现金及短期投资MANUSB
| Q4 25 | $871.0M | — | ||
| Q3 25 | $274.6M | — | ||
| Q2 25 | $289.8M | — | ||
| Q1 25 | $395.0M | — | ||
| Q4 24 | $509.4M | — | ||
| Q3 24 | $410.9M | — | ||
| Q2 24 | $468.9M | — | ||
| Q1 24 | $604.8M | — |
总债务MANUSB
| Q4 25 | $1.1B | — | ||
| Q3 25 | $468.3M | — | ||
| Q2 25 | $470.3M | — | ||
| Q1 25 | $971.4M | — | ||
| Q4 24 | $929.4M | — | ||
| Q3 24 | $999.7M | — | ||
| Q2 24 | $961.7M | — | ||
| Q1 24 | $968.9M | — |
股东权益MANUSB
| Q4 25 | $2.1B | $65.2B | ||
| Q3 25 | $2.0B | $63.3B | ||
| Q2 25 | $2.0B | $61.4B | ||
| Q1 25 | $2.1B | $60.1B | ||
| Q4 24 | $2.1B | $58.6B | ||
| Q3 24 | $2.2B | $58.9B | ||
| Q2 24 | $2.1B | $56.4B | ||
| Q1 24 | $2.2B | $55.6B |
总资产MANUSB
| Q4 25 | $9.2B | $692.3B | ||
| Q3 25 | $8.4B | $695.4B | ||
| Q2 25 | $8.5B | $686.4B | ||
| Q1 25 | $8.0B | $676.5B | ||
| Q4 24 | $8.2B | $678.3B | ||
| Q3 24 | $8.5B | $686.5B | ||
| Q2 24 | $8.5B | $680.1B | ||
| Q1 24 | $8.5B | $683.6B |
负债/权益比MANUSB
| Q4 25 | 0.51× | — | ||
| Q3 25 | 0.23× | — | ||
| Q2 25 | 0.24× | — | ||
| Q1 25 | 0.46× | — | ||
| Q4 24 | 0.44× | — | ||
| Q3 24 | 0.46× | — | ||
| Q2 24 | 0.45× | — | ||
| Q1 24 | 0.45× | — |
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 | $178.9M | $2.8B |
| 自由现金流经营现金流 - 资本支出 | $168.0M | — |
| 自由现金流率自由现金流/营收 | 3.6% | — |
| 资本支出强度资本支出/营收 | 0.2% | — |
| 现金转化率经营现金流/净利润 | 5.92× | 1.39× |
| 过去12个月自由现金流最近4个季度 | $-161.4M | — |
8季度趋势，按日历期对齐
经营现金流MANUSB
| Q4 25 | $178.9M | $2.8B | ||
| Q3 25 | $59.8M | $3.4B | ||
| Q2 25 | $-189.6M | $2.0B | ||
| Q1 25 | $-153.2M | $-285.0M | ||
| Q4 24 | $247.6M | $4.8B | ||
| Q3 24 | $83.5M | $972.0M | ||
| Q2 24 | $-137.9M | $2.9B | ||
| Q1 24 | $116.0M | $2.7B |
自由现金流MANUSB
| Q4 25 | $168.0M | — | ||
| Q3 25 | $44.7M | — | ||
| Q2 25 | $-207.2M | — | ||
| Q1 25 | $-166.9M | — | ||
| Q4 24 | $236.3M | — | ||
| Q3 24 | $67.4M | — | ||
| Q2 24 | $-149.8M | — | ||
| Q1 24 | $104.2M | — |
自由现金流率MANUSB
| Q4 25 | 3.6% | — | ||
| Q3 25 | 1.0% | — | ||
| Q2 25 | -4.6% | — | ||
| Q1 25 | -4.1% | — | ||
| Q4 24 | 5.4% | — | ||
| Q3 24 | 1.5% | — | ||
| Q2 24 | -3.3% | — | ||
| Q1 24 | 2.4% | — |
资本支出强度MANUSB
| Q4 25 | 0.2% | — | ||
| Q3 25 | 0.3% | — | ||
| Q2 25 | 0.4% | — | ||
| Q1 25 | 0.3% | — | ||
| Q4 24 | 0.3% | — | ||
| Q3 24 | 0.4% | — | ||
| Q2 24 | 0.3% | — | ||
| Q1 24 | 0.3% | — |
现金转化率MANUSB
| Q4 25 | 5.92× | 1.39× | ||
| Q3 25 | 3.32× | 1.69× | ||
| Q2 25 | — | 1.12× | ||
| Q1 25 | -27.36× | -0.17× | ||
| Q4 24 | 11.00× | 2.87× | ||
| Q3 24 | 3.66× | 0.57× | ||
| Q2 24 | -2.29× | 1.79× | ||
| Q1 24 | 2.92× | 2.02× |
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
MAN
| Other | $2.4B | 52% |
| Transferred Over Time | $1.1B | 24% |
| Staffingand Interim | $1.0B | 22% |
| Productsand Services Other | $50.8M | 1% |
| Permanent Recruitment | $37.5M | 1% |
| Outcome Based Solutionsand Consulting | $20.7M | 0% |
| Transferred At Point In Time | $20.4M | 0% |
USB
暂无分部数据
