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麦格劳希尔（MH）与PROGRESS SOFTWARE CORP（PRGS）财务数据对比。点击上方公司名可切换其他公司
麦格劳希尔的季度营收约是PROGRESS SOFTWARE CORP的1.7倍（$434.2M vs $252.7M），PROGRESS SOFTWARE CORP净利率更高（10.2% vs -4.7%，领先14.8%），PROGRESS SOFTWARE CORP同比增速更快（17.5% vs -35.1%），麦格劳希尔自由现金流更多（$285.4M vs $59.9M）
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。
Progress Software是全球领先的企业级软件服务商，主营应用开发平台、数据连接工具、数字体验解决方案等产品，服务覆盖金融、医疗、制造、零售等多行业的全球企业客户，助力客户搭建高性能可扩展的业务应用，提升运营效率。
MH vs PRGS — 直观对比
营收规模更大
MH
是对方的1.7倍
$252.7M
营收增速更快
PRGS
高出52.7%
-35.1%
净利率更高
PRGS
高出14.8%
-4.7%
自由现金流更多
MH
多$225.5M
$59.9M
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $434.2M | $252.7M |
| 净利润 | $-20.2M | $25.7M |
| 毛利率 | 85.3% | 81.6% |
| 营业利润率 | 7.0% | 15.2% |
| 净利率 | -4.7% | 10.2% |
| 营收同比 | -35.1% | 17.5% |
| 净利润同比 | -119.2% | 2144.6% |
| 每股收益（稀释后） | $-0.11 | $0.59 |
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MHPRGS
| Q4 25 | $434.2M | $252.7M | ||
| Q3 25 | $669.2M | $249.8M | ||
| Q2 25 | $535.7M | $237.4M | ||
| Q1 25 | — | $238.0M | ||
| Q4 24 | — | $215.0M | ||
| Q3 24 | — | $178.7M | ||
| Q2 24 | — | $175.1M | ||
| Q1 24 | — | $184.7M |
净利润MHPRGS
| Q4 25 | $-20.2M | $25.7M | ||
| Q3 25 | $105.3M | $19.4M | ||
| Q2 25 | $502.0K | $17.0M | ||
| Q1 25 | — | $10.9M | ||
| Q4 24 | — | $1.1M | ||
| Q3 24 | — | $28.5M | ||
| Q2 24 | — | $16.2M | ||
| Q1 24 | — | $22.6M |
毛利率MHPRGS
| Q4 25 | 85.3% | 81.6% | ||
| Q3 25 | 79.2% | 81.0% | ||
| Q2 25 | 77.0% | 80.1% | ||
| Q1 25 | — | 80.6% | ||
| Q4 24 | — | 83.0% | ||
| Q3 24 | — | 83.7% | ||
| Q2 24 | — | 81.7% | ||
| Q1 24 | — | 82.2% |
营业利润率MHPRGS
| Q4 25 | 7.0% | 15.2% | ||
| Q3 25 | 23.4% | 17.6% | ||
| Q2 25 | 18.0% | 16.3% | ||
| Q1 25 | — | 13.6% | ||
| Q4 24 | — | 10.0% | ||
| Q3 24 | — | 22.6% | ||
| Q2 24 | — | 15.5% | ||
| Q1 24 | — | 19.0% |
净利率MHPRGS
| Q4 25 | -4.7% | 10.2% | ||
| Q3 25 | 15.7% | 7.8% | ||
| Q2 25 | 0.1% | 7.2% | ||
| Q1 25 | — | 4.6% | ||
| Q4 24 | — | 0.5% | ||
| Q3 24 | — | 15.9% | ||
| Q2 24 | — | 9.2% | ||
| Q1 24 | — | 12.3% |
每股收益（稀释后）MHPRGS
| Q4 25 | $-0.11 | $0.59 | ||
| Q3 25 | $0.57 | $0.44 | ||
| Q2 25 | $0.00 | $0.39 | ||
| Q1 25 | — | $0.24 | ||
| Q4 24 | — | $0.01 | ||
| Q3 24 | — | $0.65 | ||
| Q2 24 | — | $0.37 | ||
| Q1 24 | — | $0.51 |
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 | $94.8M |
| 总债务越低越好 | $2.6B | $1.4B |
| 股东权益账面价值 | $775.3M | $478.3M |
| 总资产 | $5.6B | $2.5B |
| 负债/权益比越低杠杆越低 | 3.36× | 2.93× |
8季度趋势，按日历期对齐
现金及短期投资MHPRGS
| Q4 25 | $514.4M | $94.8M | ||
| Q3 25 | $463.2M | $99.0M | ||
| Q2 25 | $247.3M | $102.0M | ||
| Q1 25 | — | $124.2M | ||
| Q4 24 | — | $118.1M | ||
| Q3 24 | — | $232.7M | ||
| Q2 24 | — | $190.4M | ||
| Q1 24 | — | $133.2M |
总债务MHPRGS
| Q4 25 | $2.6B | $1.4B | ||
| Q3 25 | $2.8B | $1.4B | ||
| Q2 25 | $3.2B | $1.5B | ||
| Q1 25 | — | $1.5B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益MHPRGS
| Q4 25 | $775.3M | $478.3M | ||
| Q3 25 | $794.6M | $477.7M | ||
| Q2 25 | $283.3M | $452.7M | ||
| Q1 25 | — | $431.8M | ||
| Q4 24 | — | $438.8M | ||
| Q3 24 | — | $425.6M | ||
| Q2 24 | — | $401.7M | ||
| Q1 24 | — | $461.7M |
总资产MHPRGS
| Q4 25 | $5.6B | $2.5B | ||
| Q3 25 | $6.0B | $2.4B | ||
| Q2 25 | $5.7B | $2.4B | ||
| Q1 25 | — | $2.5B | ||
| Q4 24 | — | $2.5B | ||
| Q3 24 | — | $1.6B | ||
| Q2 24 | — | $1.6B | ||
| Q1 24 | — | $1.5B |
负债/权益比MHPRGS
| Q4 25 | 3.36× | 2.93× | ||
| Q3 25 | 3.52× | 2.97× | ||
| Q2 25 | 11.17× | 3.22× | ||
| Q1 25 | — | 3.50× | ||
| Q4 24 | — | 3.48× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $62.8M |
| 自由现金流经营现金流 - 资本支出 | $285.4M | $59.9M |
| 自由现金流率自由现金流/营收 | 65.7% | 23.7% |
| 资本支出强度资本支出/营收 | 5.4% | 1.1% |
| 现金转化率经营现金流/净利润 | — | 2.44× |
| 过去12个月自由现金流最近4个季度 | — | $229.5M |
8季度趋势，按日历期对齐
经营现金流MHPRGS
| Q4 25 | $309.0M | $62.8M | ||
| Q3 25 | $265.0M | $73.4M | ||
| Q2 25 | $-96.7M | $30.0M | ||
| Q1 25 | — | $68.9M | ||
| Q4 24 | — | $19.7M | ||
| Q3 24 | — | $57.7M | ||
| Q2 24 | — | $63.7M | ||
| Q1 24 | — | $70.5M |
自由现金流MHPRGS
| Q4 25 | $285.4M | $59.9M | ||
| Q3 25 | $243.8M | $72.4M | ||
| Q2 25 | $-112.9M | $29.5M | ||
| Q1 25 | — | $67.7M | ||
| Q4 24 | — | $16.8M | ||
| Q3 24 | — | $56.6M | ||
| Q2 24 | — | $62.7M | ||
| Q1 24 | — | $70.2M |
自由现金流率MHPRGS
| Q4 25 | 65.7% | 23.7% | ||
| Q3 25 | 36.4% | 29.0% | ||
| Q2 25 | -21.1% | 12.4% | ||
| Q1 25 | — | 28.4% | ||
| Q4 24 | — | 7.8% | ||
| Q3 24 | — | 31.7% | ||
| Q2 24 | — | 35.8% | ||
| Q1 24 | — | 38.0% |
资本支出强度MHPRGS
| Q4 25 | 5.4% | 1.1% | ||
| Q3 25 | 3.2% | 0.4% | ||
| Q2 25 | 3.0% | 0.2% | ||
| Q1 25 | — | 0.5% | ||
| Q4 24 | — | 1.3% | ||
| Q3 24 | — | 0.6% | ||
| Q2 24 | — | 0.5% | ||
| Q1 24 | — | 0.2% |
现金转化率MHPRGS
| Q4 25 | — | 2.44× | ||
| Q3 25 | 2.52× | 3.78× | ||
| Q2 25 | -192.53× | 1.76× | ||
| Q1 25 | — | 6.30× | ||
| Q4 24 | — | 17.13× | ||
| Q3 24 | — | 2.03× | ||
| Q2 24 | — | 3.93× | ||
| Q1 24 | — | 3.11× |
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% |
PRGS
| Maintenanceand Services | $187.5M | 74% |
| Share File Acquisition | $67.5M | 27% |
