vs
明晟（MSCI）与Construction Partners, Inc.（ROAD）财务数据对比。点击上方公司名可切换其他公司
明晟的季度营收约是Construction Partners, Inc.的1.0倍（$822.5M vs $809.5M），明晟净利率更高（34.6% vs 2.1%，领先32.5%），Construction Partners, Inc.同比增速更快（44.1% vs 10.6%），明晟自由现金流更多（$488.7M vs $47.1M），过去两年Construction Partners, Inc.的营收复合增速更高（47.6% vs 10.0%）
MSCI（明晟）是总部位于美国纽约的金融服务企业，为全球市场提供股票、固定收益、房地产指数、多资产组合分析工具及ESG、气候金融相关产品，旗下运营MSCI全球指数、MSCI新兴市场指数、MSCI全球所有国家（ACWI）指数等多款知名指数产品。
亚历山大建筑公司是总部位于美国加利福尼亚州棕榈泉的住宅开发企业，1955年至1965年期间在加州河滨县科切拉谷区域累计建成超过2200套住宅，在当地住宅建设市场拥有出色的项目交付记录。
MSCI vs ROAD — 直观对比
营收规模更大
MSCI
是对方的1.0倍
$809.5M
营收增速更快
ROAD
高出33.5%
10.6%
净利率更高
MSCI
高出32.5%
2.1%
自由现金流更多
MSCI
多$441.6M
$47.1M
两年增速更快
ROAD
近两年复合增速
10.0%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $822.5M | $809.5M |
| 净利润 | $284.7M | $17.2M |
| 毛利率 | — | 15.0% |
| 营业利润率 | 56.4% | 6.2% |
| 净利率 | 34.6% | 2.1% |
| 营收同比 | 10.6% | 44.1% |
| 净利润同比 | -6.8% | 663.9% |
| 每股收益（稀释后） | $3.81 | $0.31 |
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MSCIROAD
| Q4 25 | $822.5M | $809.5M | ||
| Q3 25 | $793.4M | $899.8M | ||
| Q2 25 | $772.7M | $779.3M | ||
| Q1 25 | $745.8M | $571.6M | ||
| Q4 24 | $743.5M | $561.6M | ||
| Q3 24 | $724.7M | $538.2M | ||
| Q2 24 | $707.9M | $517.8M | ||
| Q1 24 | $680.0M | $371.4M |
净利润MSCIROAD
| Q4 25 | $284.7M | $17.2M | ||
| Q3 25 | $325.4M | $56.6M | ||
| Q2 25 | $303.6M | $44.0M | ||
| Q1 25 | $288.6M | $4.2M | ||
| Q4 24 | $305.5M | $-3.1M | ||
| Q3 24 | $280.9M | $29.3M | ||
| Q2 24 | $266.8M | $30.9M | ||
| Q1 24 | $256.0M | $-1.1M |
毛利率MSCIROAD
| Q4 25 | — | 15.0% | ||
| Q3 25 | — | 17.7% | ||
| Q2 25 | — | 16.9% | ||
| Q1 25 | — | 12.5% | ||
| Q4 24 | — | 13.6% | ||
| Q3 24 | — | 15.6% | ||
| Q2 24 | — | 16.1% | ||
| Q1 24 | — | 10.4% |
营业利润率MSCIROAD
| Q4 25 | 56.4% | 6.2% | ||
| Q3 25 | 56.4% | 11.2% | ||
| Q2 25 | 55.0% | 10.6% | ||
| Q1 25 | 50.6% | 4.8% | ||
| Q4 24 | 54.5% | 2.5% | ||
| Q3 24 | 55.4% | 8.5% | ||
| Q2 24 | 54.0% | 8.8% | ||
| Q1 24 | 49.9% | 0.8% |
净利率MSCIROAD
| Q4 25 | 34.6% | 2.1% | ||
| Q3 25 | 41.0% | 6.3% | ||
| Q2 25 | 39.3% | 5.7% | ||
| Q1 25 | 38.7% | 0.7% | ||
| Q4 24 | 41.1% | -0.5% | ||
| Q3 24 | 38.8% | 5.4% | ||
| Q2 24 | 37.7% | 6.0% | ||
| Q1 24 | 37.6% | -0.3% |
每股收益（稀释后）MSCIROAD
| Q4 25 | $3.81 | $0.31 | ||
| Q3 25 | $4.25 | $1.03 | ||
| Q2 25 | $3.92 | $0.79 | ||
| Q1 25 | $3.71 | $0.08 | ||
| Q4 24 | $3.89 | $-0.06 | ||
| Q3 24 | $3.57 | $0.55 | ||
| Q2 24 | $3.37 | $0.59 | ||
| Q1 24 | $3.22 | $-0.02 |
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 | $515.3M | $104.1M |
| 总债务越低越好 | $6.2B | — |
| 股东权益账面价值 | $-2.7B | $969.1M |
| 总资产 | $5.7B | $3.4B |
| 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MSCIROAD
| Q4 25 | $515.3M | $104.1M | ||
| Q3 25 | $400.1M | $156.1M | ||
| Q2 25 | $347.3M | $114.3M | ||
| Q1 25 | $360.7M | $101.9M | ||
| Q4 24 | $409.4M | $132.5M | ||
| Q3 24 | $501.0M | $74.7M | ||
| Q2 24 | $451.4M | $56.3M | ||
| Q1 24 | $519.3M | $48.0M |
总债务MSCIROAD
| Q4 25 | $6.2B | — | ||
| Q3 25 | $5.5B | $1.6B | ||
| Q2 25 | $4.5B | — | ||
| Q1 25 | $4.5B | — | ||
| Q4 24 | $4.5B | — | ||
| Q3 24 | $4.5B | $515.0M | ||
| Q2 24 | $4.5B | — | ||
| Q1 24 | $4.5B | — |
股东权益MSCIROAD
| Q4 25 | $-2.7B | $969.1M | ||
| Q3 25 | $-1.9B | $912.0M | ||
| Q2 25 | $-886.2M | $853.3M | ||
| Q1 25 | $-958.6M | $807.9M | ||
| Q4 24 | $-940.0M | $811.1M | ||
| Q3 24 | $-751.0M | $573.7M | ||
| Q2 24 | $-734.5M | $552.9M | ||
| Q1 24 | $-650.5M | $525.0M |
总资产MSCIROAD
| Q4 25 | $5.7B | $3.4B | ||
| Q3 25 | $5.4B | $3.2B | ||
| Q2 25 | $5.4B | $2.9B | ||
| Q1 25 | $5.3B | $2.8B | ||
| Q4 24 | $5.4B | $2.6B | ||
| Q3 24 | $5.4B | $1.5B | ||
| Q2 24 | $5.5B | $1.4B | ||
| Q1 24 | $5.5B | $1.3B |
负债/权益比MSCIROAD
| Q4 25 | — | — | ||
| Q3 25 | — | 1.78× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.90× | ||
| 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 | $501.1M | $82.6M |
| 自由现金流经营现金流 - 资本支出 | $488.7M | $47.1M |
| 自由现金流率自由现金流/营收 | 59.4% | 5.8% |
| 资本支出强度资本支出/营收 | 1.5% | 4.4% |
| 现金转化率经营现金流/净利润 | 1.76× | 4.80× |
| 过去12个月自由现金流最近4个季度 | $1.5B | $186.6M |
8季度趋势，按日历期对齐
经营现金流MSCIROAD
| Q4 25 | $501.1M | $82.6M | ||
| Q3 25 | $449.4M | $112.0M | ||
| Q2 25 | $336.1M | $83.0M | ||
| Q1 25 | $301.7M | $55.6M | ||
| Q4 24 | $430.6M | $40.7M | ||
| Q3 24 | $421.6M | $95.9M | ||
| Q2 24 | $349.2M | $34.6M | ||
| Q1 24 | $300.1M | $18.2M |
自由现金流MSCIROAD
| Q4 25 | $488.7M | $47.1M | ||
| Q3 25 | $445.5M | $78.9M | ||
| Q2 25 | $324.7M | $46.4M | ||
| Q1 25 | $290.2M | $14.2M | ||
| Q4 24 | $416.4M | $13.8M | ||
| Q3 24 | $415.0M | $78.4M | ||
| Q2 24 | $340.6M | $19.7M | ||
| Q1 24 | $295.9M | $-10.6M |
自由现金流率MSCIROAD
| Q4 25 | 59.4% | 5.8% | ||
| Q3 25 | 56.2% | 8.8% | ||
| Q2 25 | 42.0% | 5.9% | ||
| Q1 25 | 38.9% | 2.5% | ||
| Q4 24 | 56.0% | 2.5% | ||
| Q3 24 | 57.3% | 14.6% | ||
| Q2 24 | 48.1% | 3.8% | ||
| Q1 24 | 43.5% | -2.8% |
资本支出强度MSCIROAD
| Q4 25 | 1.5% | 4.4% | ||
| Q3 25 | 0.5% | 3.7% | ||
| Q2 25 | 1.5% | 4.7% | ||
| Q1 25 | 1.5% | 7.2% | ||
| Q4 24 | 1.9% | 4.8% | ||
| Q3 24 | 0.9% | 3.3% | ||
| Q2 24 | 1.2% | 2.9% | ||
| Q1 24 | 0.6% | 7.7% |
现金转化率MSCIROAD
| Q4 25 | 1.76× | 4.80× | ||
| Q3 25 | 1.38× | 1.98× | ||
| Q2 25 | 1.11× | 1.88× | ||
| Q1 25 | 1.05× | 13.20× | ||
| Q4 24 | 1.41× | — | ||
| Q3 24 | 1.50× | 3.27× | ||
| Q2 24 | 1.31× | 1.12× | ||
| Q1 24 | 1.17× | — |
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
MSCI
| Recurring Subscriptions | $246.4M | 30% |
| Asset Based Fees | $211.7M | 26% |
| Analytics Segment | $182.3M | 22% |
| Sustainability And Climate Segment | $90.3M | 11% |
| Other | $70.9M | 9% |
| Non Recurring | $21.1M | 3% |
ROAD
暂无分部数据
