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MAXIMUS, INC.（MMS）与PIPER SANDLER COMPANIES（PIPR）财务数据对比。点击上方公司名可切换其他公司
MAXIMUS, INC.的季度营收约是PIPER SANDLER COMPANIES的2.0倍（$1.3B vs $667.0M），MAXIMUS, INC.净利率更高（30.2% vs 17.1%，领先13.1%），PIPER SANDLER COMPANIES同比增速更快（37.4% vs -2.8%），过去两年PIPER SANDLER COMPANIES的营收复合增速更高（39.2% vs -0.3%）
MAXIMUS是美国一家政府服务企业，业务覆盖美国、加拿大、英国等国家，为医疗补助、联邦医疗保险、医改、就业帮扶、学生贷款服务等各类政府项目提供行政及配套服务。公司总部位于弗吉尼亚州泰森斯，现有员工3.96万名，2024财年营收达53亿美元。
Piper Sandler是一家美国跨国投资银行及金融服务提供商，核心业务覆盖并购重组、财务重整、公开募股、公共财政、机构经纪、投资管理、证券研究等领域，通过旗下核心子公司Piper Sandler & Co.为企业、机构投资者及公共组织提供专业金融服务。
MMS vs PIPR — 直观对比
营收规模更大
MMS
是对方的2.0倍
$667.0M
营收增速更快
PIPR
高出40.2%
-2.8%
净利率更高
MMS
高出13.1%
17.1%
两年增速更快
PIPR
近两年复合增速
-0.3%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $667.0M |
| 净利润 | $394.0M | $114.0M |
| 毛利率 | 26.2% | — |
| 营业利润率 | 11.4% | 28.3% |
| 净利率 | 30.2% | 17.1% |
| 营收同比 | -2.8% | 37.4% |
| 净利润同比 | -4.1% | 65.0% |
| 每股收益（稀释后） | $7.27 | $6.41 |
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MMSPIPR
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.3B | $667.0M | ||
| Q3 25 | $1.3B | $480.1M | ||
| Q2 25 | $1.3B | $398.6M | ||
| Q1 25 | $1.4B | $358.6M | ||
| Q4 24 | $1.4B | $485.4M | ||
| Q3 24 | $1.3B | $360.9M | ||
| Q2 24 | $1.3B | $340.8M |
净利润MMSPIPR
| Q1 26 | $394.0M | — | ||
| Q4 25 | $93.9M | $114.0M | ||
| Q3 25 | $75.3M | $60.3M | ||
| Q2 25 | $106.0M | $42.2M | ||
| Q1 25 | $96.6M | $64.9M | ||
| Q4 24 | $41.2M | $69.1M | ||
| Q3 24 | $72.5M | $34.8M | ||
| Q2 24 | $89.8M | $34.8M |
毛利率MMSPIPR
| Q1 26 | 26.2% | — | ||
| Q4 25 | 23.7% | — | ||
| Q3 25 | 25.3% | — | ||
| Q2 25 | 26.7% | — | ||
| Q1 25 | 24.9% | — | ||
| Q4 24 | 21.5% | — | ||
| Q3 24 | 22.9% | — | ||
| Q2 24 | 25.3% | — |
营业利润率MMSPIPR
| Q1 26 | 11.4% | — | ||
| Q4 25 | 10.9% | 28.3% | ||
| Q3 25 | 9.3% | 22.4% | ||
| Q2 25 | 12.3% | 12.3% | ||
| Q1 25 | 11.2% | 8.2% | ||
| Q4 24 | 6.2% | 16.9% | ||
| Q3 24 | 8.5% | 15.4% | ||
| Q2 24 | 10.8% | 8.3% |
净利率MMSPIPR
| Q1 26 | 30.2% | — | ||
| Q4 25 | 7.0% | 17.1% | ||
| Q3 25 | 5.7% | 12.6% | ||
| Q2 25 | 7.9% | 10.6% | ||
| Q1 25 | 7.1% | 18.1% | ||
| Q4 24 | 2.9% | 14.2% | ||
| Q3 24 | 5.5% | 9.6% | ||
| Q2 24 | 6.8% | 10.2% |
每股收益（稀释后）MMSPIPR
| Q1 26 | $7.27 | — | ||
| Q4 25 | $1.70 | $6.41 | ||
| Q3 25 | $1.27 | $3.38 | ||
| Q2 25 | $1.86 | $2.38 | ||
| Q1 25 | $1.69 | $3.65 | ||
| Q4 24 | $0.69 | $3.88 | ||
| Q3 24 | $1.18 | $1.96 | ||
| Q2 24 | $1.46 | $1.97 |
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 | $157.5M | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.7B | $1.4B |
| 总资产 | $4.2B | $2.6B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资MMSPIPR
| Q1 26 | $157.5M | — | ||
| Q4 25 | $137.6M | — | ||
| Q3 25 | $222.4M | — | ||
| Q2 25 | $59.8M | — | ||
| Q1 25 | $108.1M | — | ||
| Q4 24 | $72.7M | — | ||
| Q3 24 | $183.1M | — | ||
| Q2 24 | $102.8M | — |
股东权益MMSPIPR
| Q1 26 | $1.7B | — | ||
| Q4 25 | $1.7B | $1.4B | ||
| Q3 25 | $1.7B | $1.3B | ||
| Q2 25 | $1.8B | $1.2B | ||
| Q1 25 | $1.7B | $1.2B | ||
| Q4 24 | $1.6B | $1.2B | ||
| Q3 24 | $1.8B | $1.2B | ||
| Q2 24 | $1.8B | $1.1B |
总资产MMSPIPR
| Q1 26 | $4.2B | — | ||
| Q4 25 | $4.2B | $2.6B | ||
| Q3 25 | $4.1B | $2.2B | ||
| Q2 25 | $4.5B | $2.0B | ||
| Q1 25 | $4.2B | $1.8B | ||
| Q4 24 | $4.1B | $2.3B | ||
| Q3 24 | $4.1B | $2.0B | ||
| Q2 24 | $4.0B | $1.9B |
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 | — | $729.8M |
| 自由现金流经营现金流 - 资本支出 | $450.0M | — |
| 自由现金流率自由现金流/营收 | 34.5% | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | — | 6.40× |
| 过去12个月自由现金流最近4个季度 | $643.0M | — |
8季度趋势，按日历期对齐
经营现金流MMSPIPR
| Q1 26 | — | — | ||
| Q4 25 | $-244.4M | $729.8M | ||
| Q3 25 | $649.4M | $31.9M | ||
| Q2 25 | $-182.7M | $32.1M | ||
| Q1 25 | $42.7M | $-207.2M | ||
| Q4 24 | $-80.0M | $163.8M | ||
| Q3 24 | $163.8M | $80.1M | ||
| Q2 24 | $199.3M | $266.5M |
自由现金流MMSPIPR
| Q1 26 | $450.0M | — | ||
| Q4 25 | $-250.7M | — | ||
| Q3 25 | $641.8M | — | ||
| Q2 25 | $-198.2M | — | ||
| Q1 25 | $25.5M | — | ||
| Q4 24 | $-103.0M | — | ||
| Q3 24 | $131.9M | — | ||
| Q2 24 | $164.6M | — |
自由现金流率MMSPIPR
| Q1 26 | 34.5% | — | ||
| Q4 25 | -18.6% | — | ||
| Q3 25 | 48.7% | — | ||
| Q2 25 | -14.7% | — | ||
| Q1 25 | 1.9% | — | ||
| Q4 24 | -7.3% | — | ||
| Q3 24 | 10.0% | — | ||
| Q2 24 | 12.5% | — |
资本支出强度MMSPIPR
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | — | ||
| Q3 25 | 0.6% | — | ||
| Q2 25 | 1.1% | — | ||
| Q1 25 | 1.3% | — | ||
| Q4 24 | 1.6% | — | ||
| Q3 24 | 2.4% | — | ||
| Q2 24 | 2.6% | — |
现金转化率MMSPIPR
| Q1 26 | — | — | ||
| Q4 25 | -2.60× | 6.40× | ||
| Q3 25 | 8.63× | 0.53× | ||
| Q2 25 | -1.72× | 0.76× | ||
| Q1 25 | 0.44× | -3.19× | ||
| Q4 24 | -1.94× | 2.37× | ||
| Q3 24 | 2.26× | 2.30× | ||
| Q2 24 | 2.22× | 7.66× |
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
MMS
暂无分部数据
PIPR
| Advisory Services | $402.6M | 60% |
| Equities Financing | $66.7M | 10% |
| Equity Salesand Trading | $64.2M | 10% |
| Fixed Income Salesand Trading | $47.9M | 7% |
| Other | $46.7M | 7% |
| Debt Financing | $38.9M | 6% |
