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麦格劳希尔（MH）与EPLUS INC（PLUS）财务数据对比。点击上方公司名可切换其他公司
EPLUS INC的季度营收约是麦格劳希尔的1.4倍（$614.8M vs $434.2M），EPLUS INC净利率更高（5.7% vs -4.7%，领先10.4%），EPLUS INC同比增速更快（20.3% vs -35.1%）
麦格劳希尔是美国知名教育科技企业，面向K12、高等教育及职业领域的师生提供多元教育内容、软件与服务。核心产品包含教材、数字学习工具及自适应技术，助力优化学习体验、提升学习效果，是与霍顿米夫林哈考特、培生教育齐名的全球三大教育出版商之一。
ePlus Inc.是美国的科技咨询解决方案提供商，业务覆盖网络安全、云计算、网络架构、协作办公、人工智能及前沿技术领域，为超5000家客户提供定制化解决方案、专业咨询与托管服务，助力企业实现数字化转型与技术升级。
MH vs PLUS — 直观对比
营收规模更大
PLUS
是对方的1.4倍
$434.2M
营收增速更快
PLUS
高出55.4%
-35.1%
净利率更高
PLUS
高出10.4%
-4.7%
损益表 — Q3 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $434.2M | $614.8M |
| 净利润 | $-20.2M | $35.1M |
| 毛利率 | 85.3% | 25.8% |
| 营业利润率 | 7.0% | 7.1% |
| 净利率 | -4.7% | 5.7% |
| 营收同比 | -35.1% | 20.3% |
| 净利润同比 | -119.2% | 45.2% |
| 每股收益（稀释后） | $-0.11 | $1.33 |
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MHPLUS
| Q4 25 | $434.2M | $614.8M | ||
| Q3 25 | $669.2M | $608.8M | ||
| Q2 25 | $535.7M | $637.3M | ||
| Q4 24 | — | $493.2M | ||
| Q3 24 | — | $493.4M | ||
| Q2 24 | — | $535.7M | ||
| Q4 23 | — | $509.1M | ||
| Q3 23 | — | $587.6M |
净利润MHPLUS
| Q4 25 | $-20.2M | $35.1M | ||
| Q3 25 | $105.3M | $34.9M | ||
| Q2 25 | $502.0K | $37.7M | ||
| Q4 24 | — | $24.1M | ||
| Q3 24 | — | $31.3M | ||
| Q2 24 | — | $27.3M | ||
| Q4 23 | — | $27.3M | ||
| Q3 23 | — | $32.7M |
毛利率MHPLUS
| Q4 25 | 85.3% | 25.8% | ||
| Q3 25 | 79.2% | 26.6% | ||
| Q2 25 | 77.0% | 23.3% | ||
| Q4 24 | — | 25.4% | ||
| Q3 24 | — | 25.8% | ||
| Q2 24 | — | 23.7% | ||
| Q4 23 | — | 26.3% | ||
| Q3 23 | — | 24.6% |
营业利润率MHPLUS
| Q4 25 | 7.0% | 7.1% | ||
| Q3 25 | 23.4% | 8.0% | ||
| Q2 25 | 18.0% | 5.7% | ||
| Q4 24 | — | 3.3% | ||
| Q3 24 | — | 5.5% | ||
| Q2 24 | — | 5.9% | ||
| Q4 23 | — | 7.5% | ||
| Q3 23 | — | 7.6% |
净利率MHPLUS
| Q4 25 | -4.7% | 5.7% | ||
| Q3 25 | 15.7% | 5.7% | ||
| Q2 25 | 0.1% | 5.9% | ||
| Q4 24 | — | 4.9% | ||
| Q3 24 | — | 6.3% | ||
| Q2 24 | — | 5.1% | ||
| Q4 23 | — | 5.4% | ||
| Q3 23 | — | 5.6% |
每股收益（稀释后）MHPLUS
| Q4 25 | $-0.11 | $1.33 | ||
| Q3 25 | $0.57 | $1.32 | ||
| Q2 25 | $0.00 | $1.43 | ||
| Q4 24 | — | $0.91 | ||
| Q3 24 | — | $1.17 | ||
| Q2 24 | — | $1.02 | ||
| Q4 23 | — | $1.02 | ||
| Q3 23 | — | $1.22 |
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 | $514.4M | $326.3M |
| 总债务越低越好 | $2.6B | — |
| 股东权益账面价值 | $775.3M | $1.1B |
| 总资产 | $5.6B | $1.8B |
| 负债/权益比越低杠杆越低 | 3.36× | — |
8季度趋势，按日历期对齐
现金及短期投资MHPLUS
| Q4 25 | $514.4M | $326.3M | ||
| Q3 25 | $463.2M | $402.2M | ||
| Q2 25 | $247.3M | $480.2M | ||
| Q4 24 | — | $253.1M | ||
| Q3 24 | — | $187.5M | ||
| Q2 24 | — | $349.9M | ||
| Q4 23 | — | $142.2M | ||
| Q3 23 | — | $82.5M |
总债务MHPLUS
| Q4 25 | $2.6B | — | ||
| Q3 25 | $2.8B | — | ||
| Q2 25 | $3.2B | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q4 23 | — | — | ||
| Q3 23 | — | — |
股东权益MHPLUS
| Q4 25 | $775.3M | $1.1B | ||
| Q3 25 | $794.6M | $1.0B | ||
| Q2 25 | $283.3M | $1.0B | ||
| Q4 24 | — | $962.3M | ||
| Q3 24 | — | $947.0M | ||
| Q2 24 | — | $921.9M | ||
| Q4 23 | — | $877.8M | ||
| Q3 23 | — | $845.7M |
总资产MHPLUS
| Q4 25 | $5.6B | $1.8B | ||
| Q3 25 | $6.0B | $1.8B | ||
| Q2 25 | $5.7B | $1.8B | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $1.7B | ||
| Q4 23 | — | $1.6B | ||
| Q3 23 | — | $1.6B |
负债/权益比MHPLUS
| Q4 25 | 3.36× | — | ||
| Q3 25 | 3.52× | — | ||
| Q2 25 | 11.17× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q4 23 | — | — | ||
| Q3 23 | — | — |
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 | $309.0M | $-87.4M |
| 自由现金流经营现金流 - 资本支出 | $285.4M | — |
| 自由现金流率自由现金流/营收 | 65.7% | — |
| 资本支出强度资本支出/营收 | 5.4% | — |
| 现金转化率经营现金流/净利润 | — | -2.49× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流MHPLUS
| Q4 25 | $309.0M | $-87.4M | ||
| Q3 25 | $265.0M | $-34.8M | ||
| Q2 25 | $-96.7M | $-99.0M | ||
| Q4 24 | — | $65.7M | ||
| Q3 24 | — | $-21.6M | ||
| Q2 24 | — | $97.1M | ||
| Q4 23 | — | $133.2M | ||
| Q3 23 | — | $31.2M |
自由现金流MHPLUS
| Q4 25 | $285.4M | — | ||
| Q3 25 | $243.8M | — | ||
| Q2 25 | $-112.9M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q4 23 | — | — | ||
| Q3 23 | — | — |
自由现金流率MHPLUS
| Q4 25 | 65.7% | — | ||
| Q3 25 | 36.4% | — | ||
| Q2 25 | -21.1% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q4 23 | — | — | ||
| Q3 23 | — | — |
资本支出强度MHPLUS
| Q4 25 | 5.4% | — | ||
| Q3 25 | 3.2% | — | ||
| Q2 25 | 3.0% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q4 23 | — | — | ||
| Q3 23 | — | — |
现金转化率MHPLUS
| Q4 25 | — | -2.49× | ||
| Q3 25 | 2.52× | -1.00× | ||
| Q2 25 | -192.53× | -2.63× | ||
| Q4 24 | — | 2.72× | ||
| Q3 24 | — | -0.69× | ||
| Q2 24 | — | 3.55× | ||
| Q4 23 | — | 4.88× | ||
| Q3 23 | — | 0.96× |
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
MH
| Higher Education | $225.4M | 52% |
| Digital | $103.5M | 24% |
| Other | $44.4M | 10% |
| Global Professional | $36.2M | 8% |
| $24.7M | 6% |
PLUS
| All Others Customer End Market | $107.0M | 17% |
| Technology Customer End Market | $89.4M | 15% |
| Health Care Customer End Market | $81.5M | 13% |
| Financial Services Customer End Market | $66.1M | 11% |
| Professional Services Reporting Unit | $64.1M | 10% |
| Security | $61.1M | 10% |
| State And Local Government And Educational Institutions | $59.9M | 10% |
| Managed Services Reporting Unit | $48.8M | 8% |
| Other Product | $21.1M | 3% |
| Collaboration | $13.4M | 2% |
