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MSA Safety Inc（MSA）与UiPath, Inc.（PATH）财务数据对比。点击上方公司名可切换其他公司
MSA Safety Inc的季度营收约是UiPath, Inc.的1.2倍（$510.9M vs $411.1M），UiPath, Inc.净利率更高（48.4% vs 17.0%，领先31.4%），UiPath, Inc.同比增速更快（15.9% vs 2.2%），MSA Safety Inc自由现金流更多（$106.0M vs $25.1M），过去两年MSA Safety Inc的营收复合增速更高（11.2% vs 0.7%）
MSA安全是美国专业安全设备生产供应商，面向建筑、军事、消防、化工、油气等存在高危作业场景的多个行业提供安全防护产品及解决方案，总部位于美国匹兹堡近郊的克兰伯里。
UiPath是一家全球化软件企业，专注于开发人工智能、智能自动化及流程编排类软件，其产品支持用户搭建与调度AI代理，实现复杂业务流程、工作流的自动化运行，助力各行业客户提升运营效率、降低人力成本。
MSA vs PATH — 直观对比
营收规模更大
MSA
是对方的1.2倍
$411.1M
营收增速更快
PATH
高出13.7%
2.2%
净利率更高
PATH
高出31.4%
17.0%
自由现金流更多
MSA
多$80.9M
$25.1M
两年增速更快
MSA
近两年复合增速
0.7%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $510.9M | $411.1M |
| 净利润 | $86.9M | $198.8M |
| 毛利率 | 46.9% | 83.3% |
| 营业利润率 | 22.3% | 3.2% |
| 净利率 | 17.0% | 48.4% |
| 营收同比 | 2.2% | 15.9% |
| 净利润同比 | -1.2% | 1966.2% |
| 每股收益（稀释后） | $2.22 | $0.37 |
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MSAPATH
| Q4 25 | $510.9M | $411.1M | ||
| Q3 25 | $468.4M | $361.7M | ||
| Q2 25 | $474.1M | $356.6M | ||
| Q1 25 | $421.3M | $423.6M | ||
| Q4 24 | $499.7M | $354.7M | ||
| Q3 24 | $432.7M | $316.3M | ||
| Q2 24 | $462.5M | $335.1M | ||
| Q1 24 | $413.3M | $405.3M |
净利润MSAPATH
| Q4 25 | $86.9M | $198.8M | ||
| Q3 25 | $69.6M | $1.6M | ||
| Q2 25 | $62.8M | $-22.6M | ||
| Q1 25 | $59.6M | $51.8M | ||
| Q4 24 | $87.9M | $-10.7M | ||
| Q3 24 | $66.6M | $-86.1M | ||
| Q2 24 | $72.2M | $-28.7M | ||
| Q1 24 | $58.1M | $33.9M |
毛利率MSAPATH
| Q4 25 | 46.9% | 83.3% | ||
| Q3 25 | 46.5% | 82.2% | ||
| Q2 25 | 46.6% | 82.1% | ||
| Q1 25 | 45.9% | 84.8% | ||
| Q4 24 | 46.9% | 82.0% | ||
| Q3 24 | 47.9% | 80.0% | ||
| Q2 24 | 48.2% | 83.5% | ||
| Q1 24 | 47.3% | 86.8% |
营业利润率MSAPATH
| Q4 25 | 22.3% | 3.2% | ||
| Q3 25 | 20.1% | -5.6% | ||
| Q2 25 | 18.1% | -4.6% | ||
| Q1 25 | 18.5% | 7.9% | ||
| Q4 24 | 23.5% | -12.2% | ||
| Q3 24 | 21.1% | -32.7% | ||
| Q2 24 | 21.6% | -14.8% | ||
| Q1 24 | 19.4% | 3.7% |
净利率MSAPATH
| Q4 25 | 17.0% | 48.4% | ||
| Q3 25 | 14.9% | 0.4% | ||
| Q2 25 | 13.2% | -6.3% | ||
| Q1 25 | 14.1% | 12.2% | ||
| Q4 24 | 17.6% | -3.0% | ||
| Q3 24 | 15.4% | -27.2% | ||
| Q2 24 | 15.6% | -8.6% | ||
| Q1 24 | 14.1% | 8.4% |
每股收益（稀释后）MSAPATH
| Q4 25 | $2.22 | $0.37 | ||
| Q3 25 | $1.77 | $0.00 | ||
| Q2 25 | $1.59 | $-0.04 | ||
| Q1 25 | $1.51 | $0.09 | ||
| Q4 24 | $2.22 | $-0.02 | ||
| Q3 24 | $1.69 | $-0.15 | ||
| Q2 24 | $1.83 | $-0.05 | ||
| Q1 24 | $1.47 | $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 | $165.1M | $1.4B |
| 总债务越低越好 | $580.9M | — |
| 股东权益账面价值 | $1.4B | $1.9B |
| 总资产 | $2.6B | $2.9B |
| 负债/权益比越低杠杆越低 | 0.42× | — |
8季度趋势，按日历期对齐
现金及短期投资MSAPATH
| Q4 25 | $165.1M | $1.4B | ||
| Q3 25 | $170.0M | $1.4B | ||
| Q2 25 | $147.0M | $1.6B | ||
| Q1 25 | $170.6M | $1.6B | ||
| Q4 24 | $164.6M | $1.6B | ||
| Q3 24 | $154.4M | $1.7B | ||
| Q2 24 | $146.8M | $1.9B | ||
| Q1 24 | $148.3M | $1.9B |
总债务MSAPATH
| Q4 25 | $580.9M | — | ||
| Q3 25 | $628.6M | — | ||
| Q2 25 | $679.3M | — | ||
| Q1 25 | $502.1M | — | ||
| Q4 24 | $508.0M | — | ||
| Q3 24 | $554.7M | — | ||
| Q2 24 | $588.2M | — | ||
| Q1 24 | $596.2M | — |
股东权益MSAPATH
| Q4 25 | $1.4B | $1.9B | ||
| Q3 25 | $1.3B | $1.7B | ||
| Q2 25 | $1.3B | $1.7B | ||
| Q1 25 | $1.2B | $1.8B | ||
| Q4 24 | $1.1B | $1.7B | ||
| Q3 24 | $1.1B | $1.8B | ||
| Q2 24 | $1.0B | $2.0B | ||
| Q1 24 | $994.8M | $2.0B |
总资产MSAPATH
| Q4 25 | $2.6B | $2.9B | ||
| Q3 25 | $2.6B | $2.6B | ||
| Q2 25 | $2.6B | $2.6B | ||
| Q1 25 | $2.2B | $2.9B | ||
| Q4 24 | $2.2B | $2.7B | ||
| Q3 24 | $2.2B | $2.7B | ||
| Q2 24 | $2.2B | $2.8B | ||
| Q1 24 | $2.2B | $3.0B |
负债/权益比MSAPATH
| Q4 25 | 0.42× | — | ||
| Q3 25 | 0.48× | — | ||
| Q2 25 | 0.54× | — | ||
| Q1 25 | 0.42× | — | ||
| Q4 24 | 0.44× | — | ||
| Q3 24 | 0.51× | — | ||
| Q2 24 | 0.57× | — | ||
| Q1 24 | 0.60× | — |
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 | $122.4M | $28.3M |
| 自由现金流经营现金流 - 资本支出 | $106.0M | $25.1M |
| 自由现金流率自由现金流/营收 | 20.8% | 6.1% |
| 资本支出强度资本支出/营收 | 3.2% | 0.8% |
| 现金转化率经营现金流/净利润 | 1.41× | 0.14× |
| 过去12个月自由现金流最近4个季度 | $295.4M | — |
8季度趋势，按日历期对齐
经营现金流MSAPATH
| Q4 25 | $122.4M | $28.3M | ||
| Q3 25 | $112.5M | $41.6M | ||
| Q2 25 | $67.2M | $119.0M | ||
| Q1 25 | $61.8M | $146.1M | ||
| Q4 24 | $107.9M | $28.1M | ||
| Q3 24 | $84.3M | $46.4M | ||
| Q2 24 | $53.3M | $100.0M | ||
| Q1 24 | $50.9M | $145.6M |
自由现金流MSAPATH
| Q4 25 | $106.0M | $25.1M | ||
| Q3 25 | $100.5M | — | ||
| Q2 25 | $37.9M | $106.2M | ||
| Q1 25 | $51.0M | $138.7M | ||
| Q4 24 | $93.5M | $23.2M | ||
| Q3 24 | $70.1M | $45.0M | ||
| Q2 24 | $39.0M | $98.8M | ||
| Q1 24 | $39.7M | $141.8M |
自由现金流率MSAPATH
| Q4 25 | 20.8% | 6.1% | ||
| Q3 25 | 21.4% | — | ||
| Q2 25 | 8.0% | 29.8% | ||
| Q1 25 | 12.1% | 32.7% | ||
| Q4 24 | 18.7% | 6.5% | ||
| Q3 24 | 16.2% | 14.2% | ||
| Q2 24 | 8.4% | 29.5% | ||
| Q1 24 | 9.6% | 35.0% |
资本支出强度MSAPATH
| Q4 25 | 3.2% | 0.8% | ||
| Q3 25 | 2.6% | 0.0% | ||
| Q2 25 | 6.2% | 3.6% | ||
| Q1 25 | 2.6% | 1.7% | ||
| Q4 24 | 2.9% | 1.4% | ||
| Q3 24 | 3.3% | 0.4% | ||
| Q2 24 | 3.1% | 0.4% | ||
| Q1 24 | 2.7% | 0.9% |
现金转化率MSAPATH
| Q4 25 | 1.41× | 0.14× | ||
| Q3 25 | 1.62× | 26.25× | ||
| Q2 25 | 1.07× | — | ||
| Q1 25 | 1.04× | 2.82× | ||
| Q4 24 | 1.23× | — | ||
| Q3 24 | 1.27× | — | ||
| Q2 24 | 0.74× | — | ||
| Q1 24 | 0.88× | 4.29× |
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
MSA
| Americas Segment | $335.2M | 66% |
| International Segment | $175.7M | 34% |
PATH
| Subscription Services | $247.6M | 60% |
| License | $150.0M | 36% |
| Professional Services And Other | $13.5M | 3% |
