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MSA Safety Inc（MSA）与Childrens Place, Inc.（PLCE）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Childrens Place, Inc.的1.5倍（$510.9M vs $339.5M），MSA Safety Inc净利率更高（17.0% vs -1.3%，领先18.3%），MSA Safety Inc同比增速更快（2.2% vs -13.0%），MSA Safety Inc自由现金流更多（$106.0M vs $-3.4M），过去两年MSA Safety Inc的营收复合增速更高（11.2% vs -13.6%）
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。
Children’s Place是专业儿童服饰零售商，产品主要以旗下自有品牌发售，涵盖Gymboree、Sugar & Jade、PJ Place、Crazy 8等。目前该品牌在美国、加拿大、波多黎各共开设约525家门店，同时通过两个线上渠道以及15个国家的5家加盟合作伙伴开展销售，产品涵盖上衣、裙装、鞋履、裤装、睡衣、背包等全品类儿童服饰配件。
MSA vs PLCE — 直观对比
营收规模更大
MSA
是对方的1.5倍
$339.5M
营收增速更快
MSA
高出15.2%
-13.0%
净利率更高
MSA
高出18.3%
-1.3%
自由现金流更多
MSA
多$109.4M
$-3.4M
两年增速更快
MSA
近两年复合增速
-13.6%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $510.9M | $339.5M |
| 净利润 | $86.9M | $-4.3M |
| 毛利率 | 46.9% | 33.1% |
| 营业利润率 | 22.3% | 1.1% |
| 净利率 | 17.0% | -1.3% |
| 营收同比 | 2.2% | -13.0% |
| 净利润同比 | -1.2% | -121.5% |
| 每股收益（稀释后） | $2.22 | $-0.19 |
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MSAPLCE
| Q4 25 | $510.9M | $339.5M | ||
| Q3 25 | $468.4M | $298.0M | ||
| Q2 25 | $474.1M | $242.1M | ||
| Q1 25 | $421.3M | $408.6M | ||
| Q4 24 | $499.7M | $390.2M | ||
| Q3 24 | $432.7M | $319.7M | ||
| Q2 24 | $462.5M | $267.9M | ||
| Q1 24 | $413.3M | $455.0M |
净利润MSAPLCE
| Q4 25 | $86.9M | $-4.3M | ||
| Q3 25 | $69.6M | $-5.4M | ||
| Q2 25 | $62.8M | $-34.0M | ||
| Q1 25 | $59.6M | $-8.0M | ||
| Q4 24 | $87.9M | $20.1M | ||
| Q3 24 | $66.6M | $-32.1M | ||
| Q2 24 | $72.2M | $-37.8M | ||
| Q1 24 | $58.1M | $-128.8M |
毛利率MSAPLCE
| Q4 25 | 46.9% | 33.1% | ||
| Q3 25 | 46.5% | 34.0% | ||
| Q2 25 | 46.6% | 29.2% | ||
| Q1 25 | 45.9% | 28.5% | ||
| Q4 24 | 46.9% | 35.5% | ||
| Q3 24 | 47.9% | 35.0% | ||
| Q2 24 | 48.2% | 34.6% | ||
| Q1 24 | 47.3% | 21.8% |
营业利润率MSAPLCE
| Q4 25 | 22.3% | 1.1% | ||
| Q3 25 | 20.1% | 1.4% | ||
| Q2 25 | 18.1% | -10.0% | ||
| Q1 25 | 18.5% | 1.7% | ||
| Q4 24 | 23.5% | 7.5% | ||
| Q3 24 | 21.1% | -6.8% | ||
| Q2 24 | 21.6% | -10.4% | ||
| Q1 24 | 19.4% | -13.6% |
净利率MSAPLCE
| Q4 25 | 17.0% | -1.3% | ||
| Q3 25 | 14.9% | -1.8% | ||
| Q2 25 | 13.2% | -14.1% | ||
| Q1 25 | 14.1% | -2.0% | ||
| Q4 24 | 17.6% | 5.1% | ||
| Q3 24 | 15.4% | -10.0% | ||
| Q2 24 | 15.6% | -14.1% | ||
| Q1 24 | 14.1% | -28.3% |
每股收益（稀释后）MSAPLCE
| Q4 25 | $2.22 | $-0.19 | ||
| Q3 25 | $1.77 | $-0.24 | ||
| Q2 25 | $1.59 | $-1.57 | ||
| Q1 25 | $1.51 | $-0.60 | ||
| Q4 24 | $2.22 | $1.57 | ||
| Q3 24 | $1.69 | $-2.51 | ||
| Q2 24 | $1.83 | $-2.98 | ||
| Q1 24 | $1.47 | $-10.24 |
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 | $7.3M |
| 总债务越低越好 | $580.9M | $107.4M |
| 股东权益账面价值 | $1.4B | $-8.6M |
| 总资产 | $2.6B | $762.5M |
| 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MSAPLCE
| Q4 25 | $165.1M | $7.3M | ||
| Q3 25 | $170.0M | $7.8M | ||
| Q2 25 | $147.0M | $5.7M | ||
| Q1 25 | $170.6M | $5.3M | ||
| Q4 24 | $164.6M | $5.7M | ||
| Q3 24 | $154.4M | $9.6M | ||
| Q2 24 | $146.8M | $13.0M | ||
| Q1 24 | $148.3M | $13.6M |
总债务MSAPLCE
| Q4 25 | $580.9M | $107.4M | ||
| Q3 25 | $628.6M | $107.2M | ||
| Q2 25 | $679.3M | $107.0M | ||
| Q1 25 | $502.1M | $166.0M | ||
| Q4 24 | $508.0M | $165.7M | ||
| Q3 24 | $554.7M | $165.4M | ||
| Q2 24 | $588.2M | $166.6M | ||
| Q1 24 | $596.2M | $49.8M |
股东权益MSAPLCE
| Q4 25 | $1.4B | $-8.6M | ||
| Q3 25 | $1.3B | $-4.9M | ||
| Q2 25 | $1.3B | $1.4M | ||
| Q1 25 | $1.2B | $-59.4M | ||
| Q4 24 | $1.1B | $-49.6M | ||
| Q3 24 | $1.1B | $-68.9M | ||
| Q2 24 | $1.0B | $-34.9M | ||
| Q1 24 | $994.8M | $-9.0M |
总资产MSAPLCE
| Q4 25 | $2.6B | $762.5M | ||
| Q3 25 | $2.6B | $805.1M | ||
| Q2 25 | $2.6B | $779.6M | ||
| Q1 25 | $2.2B | $747.6M | ||
| Q4 24 | $2.2B | $888.8M | ||
| Q3 24 | $2.2B | $921.4M | ||
| Q2 24 | $2.2B | $848.3M | ||
| Q1 24 | $2.2B | $800.3M |
负债/权益比MSAPLCE
| Q4 25 | 0.42× | — | ||
| Q3 25 | 0.48× | — | ||
| Q2 25 | 0.54× | 75.63× | ||
| 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 | $6.2M |
| 自由现金流经营现金流 - 资本支出 | $106.0M | $-3.4M |
| 自由现金流率自由现金流/营收 | 20.8% | -1.0% |
| 资本支出强度资本支出/营收 | 3.2% | 2.8% |
| 现金转化率经营现金流/净利润 | 1.41× | — |
| 过去12个月自由现金流最近4个季度 | $295.4M | $39.5M |
8季度趋势，按日历期对齐
经营现金流MSAPLCE
| Q4 25 | $122.4M | $6.2M | ||
| Q3 25 | $112.5M | $-30.5M | ||
| Q2 25 | $67.2M | $-43.0M | ||
| Q1 25 | $61.8M | $121.3M | ||
| Q4 24 | $107.9M | $-44.2M | ||
| Q3 24 | $84.3M | $-83.9M | ||
| Q2 24 | $53.3M | $-110.8M | ||
| Q1 24 | $50.9M | $135.4M |
自由现金流MSAPLCE
| Q4 25 | $106.0M | $-3.4M | ||
| Q3 25 | $100.5M | $-31.9M | ||
| Q2 25 | $37.9M | $-46.4M | ||
| Q1 25 | $51.0M | $121.2M | ||
| Q4 24 | $93.5M | $-47.7M | ||
| Q3 24 | $70.1M | $-91.7M | ||
| Q2 24 | $39.0M | $-115.5M | ||
| Q1 24 | $39.7M | $132.2M |
自由现金流率MSAPLCE
| Q4 25 | 20.8% | -1.0% | ||
| Q3 25 | 21.4% | -10.7% | ||
| Q2 25 | 8.0% | -19.2% | ||
| Q1 25 | 12.1% | 29.7% | ||
| Q4 24 | 18.7% | -12.2% | ||
| Q3 24 | 16.2% | -28.7% | ||
| Q2 24 | 8.4% | -43.1% | ||
| Q1 24 | 9.6% | 29.1% |
资本支出强度MSAPLCE
| Q4 25 | 3.2% | 2.8% | ||
| Q3 25 | 2.6% | 0.5% | ||
| Q2 25 | 6.2% | 1.4% | ||
| Q1 25 | 2.6% | 0.0% | ||
| Q4 24 | 2.9% | 0.9% | ||
| Q3 24 | 3.3% | 2.4% | ||
| Q2 24 | 3.1% | 1.8% | ||
| Q1 24 | 2.7% | 0.7% |
现金转化率MSAPLCE
| Q4 25 | 1.41× | — | ||
| Q3 25 | 1.62× | — | ||
| Q2 25 | 1.07× | — | ||
| Q1 25 | 1.04× | — | ||
| Q4 24 | 1.23× | -2.20× | ||
| Q3 24 | 1.27× | — | ||
| Q2 24 | 0.74× | — | ||
| Q1 24 | 0.88× | — |
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% |
PLCE
| The Childrens Place US | $307.4M | 91% |
| The Childrens Place International | $32.1M | 9% |
| Gift Cards | $1.7M | 1% |
