vs
美森（MATX）与PEGASYSTEMS INC（PEGA）财务数据对比。点击上方公司名可切换其他公司
美森的季度营收约是PEGASYSTEMS INC的2.0倍（$851.9M vs $430.0M），美森净利率更高（16.8% vs 7.6%，领先9.2%），美森同比增速更快（-4.3% vs -9.6%），PEGASYSTEMS INC自由现金流更多（$206.5M vs $42.2M），过去两年PEGASYSTEMS INC的营收复合增速更高（10.7% vs 8.6%）
美森公司（Matson, Inc.）是美国知名航运服务企业，总部位于夏威夷州火奴鲁鲁，成立于1882年。旗下子公司美森航运主营跨太平洋海运业务，服务覆盖夏威夷、阿拉斯加、关岛、密克罗尼西亚、太平洋诸岛、中国及日本等地区。
Pegasystems Inc.（简称Pega）是1983年成立的全球软件企业，总部位于美国马萨诸塞州沃尔瑟姆，1996年于纳斯达克上市，股票代码PEGA。公司主打低代码平台，面向企业客户提供工作流自动化、生成式AI驱动决策等相关解决方案。
MATX vs PEGA — 直观对比
营收规模更大
MATX
是对方的2.0倍
$430.0M
营收增速更快
MATX
高出5.3%
-9.6%
净利率更高
MATX
高出9.2%
7.6%
自由现金流更多
PEGA
多$164.3M
$42.2M
两年增速更快
PEGA
近两年复合增速
8.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $851.9M | $430.0M |
| 净利润 | $143.1M | $32.8M |
| 毛利率 | — | 75.2% |
| 营业利润率 | 16.9% | 8.6% |
| 净利率 | 16.8% | 7.6% |
| 营收同比 | -4.3% | -9.6% |
| 净利润同比 | 11.8% | — |
| 每股收益（稀释后） | $4.47 | $0.18 |
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MATXPEGA
| Q1 26 | — | $430.0M | ||
| Q4 25 | $851.9M | $504.3M | ||
| Q3 25 | $880.1M | $381.4M | ||
| Q2 25 | $830.5M | $384.5M | ||
| Q1 25 | $782.0M | $475.6M | ||
| Q4 24 | $890.3M | $490.8M | ||
| Q3 24 | $962.0M | $325.1M | ||
| Q2 24 | $847.4M | $351.2M |
净利润MATXPEGA
| Q1 26 | — | $32.8M | ||
| Q4 25 | $143.1M | $234.6M | ||
| Q3 25 | $134.7M | $43.4M | ||
| Q2 25 | $94.7M | $30.1M | ||
| Q1 25 | $72.3M | $85.4M | ||
| Q4 24 | $128.0M | $119.1M | ||
| Q3 24 | $199.1M | $-14.4M | ||
| Q2 24 | $113.2M | $6.6M |
毛利率MATXPEGA
| Q1 26 | — | 75.2% | ||
| Q4 25 | — | 79.5% | ||
| Q3 25 | — | 72.2% | ||
| Q2 25 | — | 71.5% | ||
| Q1 25 | — | 78.5% | ||
| Q4 24 | — | 79.1% | ||
| Q3 24 | — | 70.2% | ||
| Q2 24 | — | 72.4% |
营业利润率MATXPEGA
| Q1 26 | — | 8.6% | ||
| Q4 25 | 16.9% | 20.7% | ||
| Q3 25 | 18.3% | 3.8% | ||
| Q2 25 | 13.6% | 4.5% | ||
| Q1 25 | 10.5% | 26.7% | ||
| Q4 24 | 16.6% | 29.1% | ||
| Q3 24 | 25.2% | -3.6% | ||
| Q2 24 | 14.7% | 3.7% |
净利率MATXPEGA
| Q1 26 | — | 7.6% | ||
| Q4 25 | 16.8% | 46.5% | ||
| Q3 25 | 15.3% | 11.4% | ||
| Q2 25 | 11.4% | 7.8% | ||
| Q1 25 | 9.2% | 18.0% | ||
| Q4 24 | 14.4% | 24.3% | ||
| Q3 24 | 20.7% | -4.4% | ||
| Q2 24 | 13.4% | 1.9% |
每股收益（稀释后）MATXPEGA
| Q1 26 | — | $0.18 | ||
| Q4 25 | $4.47 | $0.81 | ||
| Q3 25 | $4.24 | $0.24 | ||
| Q2 25 | $2.92 | $0.17 | ||
| Q1 25 | $2.18 | $0.91 | ||
| Q4 24 | $3.69 | $1.35 | ||
| Q3 24 | $5.89 | $-0.17 | ||
| Q2 24 | $3.31 | $0.07 |
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 | $141.9M | $270.0M |
| 总债务越低越好 | $361.2M | — |
| 股东权益账面价值 | $2.8B | $705.9M |
| 总资产 | $4.6B | $1.6B |
| 负债/权益比越低杠杆越低 | 0.13× | — |
8季度趋势，按日历期对齐
现金及短期投资MATXPEGA
| Q1 26 | — | $270.0M | ||
| Q4 25 | $141.9M | $425.8M | ||
| Q3 25 | $92.7M | $351.4M | ||
| Q2 25 | $59.1M | $411.6M | ||
| Q1 25 | $122.0M | $371.7M | ||
| Q4 24 | $266.8M | $740.0M | ||
| Q3 24 | $270.3M | $703.0M | ||
| Q2 24 | $168.2M | $665.1M |
总债务MATXPEGA
| Q1 26 | — | — | ||
| Q4 25 | $361.2M | — | ||
| Q3 25 | $370.9M | — | ||
| Q2 25 | $341.3M | — | ||
| Q1 25 | $351.1M | — | ||
| Q4 24 | $361.2M | — | ||
| Q3 24 | $370.9M | — | ||
| Q2 24 | $381.0M | — |
股东权益MATXPEGA
| Q1 26 | — | $705.9M | ||
| Q4 25 | $2.8B | $787.4M | ||
| Q3 25 | $2.7B | $596.8M | ||
| Q2 25 | $2.6B | $624.5M | ||
| Q1 25 | $2.6B | $611.3M | ||
| Q4 24 | $2.7B | $585.5M | ||
| Q3 24 | $2.6B | $473.0M | ||
| Q2 24 | $2.4B | $435.4M |
总资产MATXPEGA
| Q1 26 | — | $1.6B | ||
| Q4 25 | $4.6B | $1.6B | ||
| Q3 25 | $4.6B | $1.3B | ||
| Q2 25 | $4.5B | $1.3B | ||
| Q1 25 | $4.5B | $1.3B | ||
| Q4 24 | $4.6B | $1.8B | ||
| Q3 24 | $4.4B | $1.6B | ||
| Q2 24 | $4.3B | $1.5B |
负债/权益比MATXPEGA
| Q1 26 | — | — | ||
| Q4 25 | 0.13× | — | ||
| Q3 25 | 0.14× | — | ||
| Q2 25 | 0.13× | — | ||
| Q1 25 | 0.13× | — | ||
| Q4 24 | 0.14× | — | ||
| Q3 24 | 0.15× | — | ||
| Q2 24 | 0.16× | — |
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 | $176.9M | — |
| 自由现金流经营现金流 - 资本支出 | $42.2M | $206.5M |
| 自由现金流率自由现金流/营收 | 5.0% | 48.0% |
| 资本支出强度资本支出/营收 | 15.8% | — |
| 现金转化率经营现金流/净利润 | 1.24× | — |
| 过去12个月自由现金流最近4个季度 | $153.7M | $494.9M |
8季度趋势，按日历期对齐
经营现金流MATXPEGA
| Q1 26 | — | — | ||
| Q4 25 | $176.9M | $158.4M | ||
| Q3 25 | $175.6M | $56.3M | ||
| Q2 25 | $105.6M | $86.3M | ||
| Q1 25 | $89.0M | $204.2M | ||
| Q4 24 | $174.7M | $95.2M | ||
| Q3 24 | $248.6M | $30.5M | ||
| Q2 24 | $307.9M | $40.1M |
自由现金流MATXPEGA
| Q1 26 | — | $206.5M | ||
| Q4 25 | $42.2M | $152.4M | ||
| Q3 25 | $92.4M | $51.8M | ||
| Q2 25 | $19.3M | $84.1M | ||
| Q1 25 | $-200.0K | $202.3M | ||
| Q4 24 | $49.3M | $92.4M | ||
| Q3 24 | $189.0M | $27.4M | ||
| Q2 24 | $238.1M | $38.8M |
自由现金流率MATXPEGA
| Q1 26 | — | 48.0% | ||
| Q4 25 | 5.0% | 30.2% | ||
| Q3 25 | 10.5% | 13.6% | ||
| Q2 25 | 2.3% | 21.9% | ||
| Q1 25 | -0.0% | 42.5% | ||
| Q4 24 | 5.5% | 18.8% | ||
| Q3 24 | 19.6% | 8.4% | ||
| Q2 24 | 28.1% | 11.1% |
资本支出强度MATXPEGA
| Q1 26 | — | — | ||
| Q4 25 | 15.8% | 1.2% | ||
| Q3 25 | 9.5% | 1.2% | ||
| Q2 25 | 10.4% | 0.6% | ||
| Q1 25 | 11.4% | 0.4% | ||
| Q4 24 | 14.1% | 0.6% | ||
| Q3 24 | 6.2% | 0.9% | ||
| Q2 24 | 8.2% | 0.4% |
现金转化率MATXPEGA
| Q1 26 | — | — | ||
| Q4 25 | 1.24× | 0.68× | ||
| Q3 25 | 1.30× | 1.30× | ||
| Q2 25 | 1.12× | 2.87× | ||
| Q1 25 | 1.23× | 2.39× | ||
| Q4 24 | 1.36× | 0.80× | ||
| Q3 24 | 1.25× | — | ||
| Q2 24 | 2.72× | 6.06× |
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
MATX
| Ocean Transportation Segment | $704.2M | 83% |
| Logistics Services Segment | $147.7M | 17% |
PEGA
| Pega Cloud | $205.0M | 48% |
| Subscription license | $94.9M | 22% |
| Maintenance | $75.3M | 18% |
| Consulting | $54.8M | 13% |
