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明晟（MSCI）与Revvity（RVTY）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Revvity的1.1倍（$822.5M vs $772.1M），明晟净利率更高（34.6% vs 12.7%，领先21.9%），明晟同比增速更快（10.6% vs 5.9%），明晟自由现金流更多（$488.7M vs $161.8M），过去两年明晟的营收复合增速更高（10.0% vs 9.0%）
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。
Revvity是一家美国生命科学与诊断领域企业，主要服务制药、生物技术行业客户，重点围绕细胞治疗、基因治疗等前沿技术领域提供相关产品与解决方案，其前身为业务布局多元的老牌企业珀金埃尔默。
MSCI vs RVTY — 直观对比
营收规模更大
MSCI
是对方的1.1倍
$772.1M
营收增速更快
MSCI
高出4.8%
5.9%
净利率更高
MSCI
高出21.9%
12.7%
自由现金流更多
MSCI
多$326.9M
$161.8M
两年增速更快
MSCI
近两年复合增速
9.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $822.5M | $772.1M |
| 净利润 | $284.7M | $98.4M |
| 毛利率 | — | — |
| 营业利润率 | 56.4% | 14.5% |
| 净利率 | 34.6% | 12.7% |
| 营收同比 | 10.6% | 5.9% |
| 净利润同比 | -6.8% | 3.9% |
| 每股收益（稀释后） | $3.81 | $0.86 |
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MSCIRVTY
| Q4 25 | $822.5M | $772.1M | ||
| Q3 25 | $793.4M | $698.9M | ||
| Q2 25 | $772.7M | $720.3M | ||
| Q1 25 | $745.8M | $664.8M | ||
| Q4 24 | $743.5M | $729.4M | ||
| Q3 24 | $724.7M | $684.0M | ||
| Q2 24 | $707.9M | $691.7M | ||
| Q1 24 | $680.0M | $649.9M |
净利润MSCIRVTY
| Q4 25 | $284.7M | $98.4M | ||
| Q3 25 | $325.4M | $46.7M | ||
| Q2 25 | $303.6M | $53.9M | ||
| Q1 25 | $288.6M | $42.2M | ||
| Q4 24 | $305.5M | $94.6M | ||
| Q3 24 | $280.9M | $94.4M | ||
| Q2 24 | $266.8M | $55.4M | ||
| Q1 24 | $256.0M | $26.0M |
毛利率MSCIRVTY
| Q4 25 | — | — | ||
| Q3 25 | — | 53.6% | ||
| Q2 25 | — | 54.5% | ||
| Q1 25 | — | 56.5% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 56.3% | ||
| Q2 24 | — | 55.7% | ||
| Q1 24 | — | 54.6% |
营业利润率MSCIRVTY
| Q4 25 | 56.4% | 14.5% | ||
| Q3 25 | 56.4% | 11.7% | ||
| Q2 25 | 55.0% | 12.6% | ||
| Q1 25 | 50.6% | 10.9% | ||
| Q4 24 | 54.5% | 16.3% | ||
| Q3 24 | 55.4% | 14.3% | ||
| Q2 24 | 54.0% | 12.4% | ||
| Q1 24 | 49.9% | 6.8% |
净利率MSCIRVTY
| Q4 25 | 34.6% | 12.7% | ||
| Q3 25 | 41.0% | 6.7% | ||
| Q2 25 | 39.3% | 7.5% | ||
| Q1 25 | 38.7% | 6.4% | ||
| Q4 24 | 41.1% | 13.0% | ||
| Q3 24 | 38.8% | 13.8% | ||
| Q2 24 | 37.7% | 8.0% | ||
| Q1 24 | 37.6% | 4.0% |
每股收益（稀释后）MSCIRVTY
| Q4 25 | $3.81 | $0.86 | ||
| Q3 25 | $4.25 | $0.40 | ||
| Q2 25 | $3.92 | $0.46 | ||
| Q1 25 | $3.71 | $0.35 | ||
| Q4 24 | $3.89 | $0.77 | ||
| Q3 24 | $3.57 | $0.77 | ||
| Q2 24 | $3.37 | $0.45 | ||
| Q1 24 | $3.22 | $0.21 |
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 | $919.9M |
| 总债务越低越好 | $6.2B | — |
| 股东权益账面价值 | $-2.7B | $7.3B |
| 总资产 | $5.7B | $12.2B |
| 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MSCIRVTY
| Q4 25 | $515.3M | $919.9M | ||
| Q3 25 | $400.1M | $931.4M | ||
| Q2 25 | $347.3M | $991.8M | ||
| Q1 25 | $360.7M | $1.1B | ||
| Q4 24 | $409.4M | $1.2B | ||
| Q3 24 | $501.0M | $1.2B | ||
| Q2 24 | $451.4M | $2.0B | ||
| Q1 24 | $519.3M | $1.7B |
总债务MSCIRVTY
| Q4 25 | $6.2B | — | ||
| Q3 25 | $5.5B | — | ||
| Q2 25 | $4.5B | — | ||
| Q1 25 | $4.5B | — | ||
| Q4 24 | $4.5B | — | ||
| Q3 24 | $4.5B | — | ||
| Q2 24 | $4.5B | — | ||
| Q1 24 | $4.5B | — |
股东权益MSCIRVTY
| Q4 25 | $-2.7B | $7.3B | ||
| Q3 25 | $-1.9B | $7.4B | ||
| Q2 25 | $-886.2M | $7.6B | ||
| Q1 25 | $-958.6M | $7.6B | ||
| Q4 24 | $-940.0M | $7.7B | ||
| Q3 24 | $-751.0M | $7.9B | ||
| Q2 24 | $-734.5M | $7.9B | ||
| Q1 24 | $-650.5M | $7.8B |
总资产MSCIRVTY
| Q4 25 | $5.7B | $12.2B | ||
| Q3 25 | $5.4B | $12.1B | ||
| Q2 25 | $5.4B | $12.4B | ||
| Q1 25 | $5.3B | $12.4B | ||
| Q4 24 | $5.4B | $12.4B | ||
| Q3 24 | $5.4B | $12.8B | ||
| Q2 24 | $5.5B | $13.4B | ||
| Q1 24 | $5.5B | $13.4B |
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 | $182.0M |
| 自由现金流经营现金流 - 资本支出 | $488.7M | $161.8M |
| 自由现金流率自由现金流/营收 | 59.4% | 21.0% |
| 资本支出强度资本支出/营收 | 1.5% | 2.6% |
| 现金转化率经营现金流/净利润 | 1.76× | 1.85× |
| 过去12个月自由现金流最近4个季度 | $1.5B | $509.4M |
8季度趋势，按日历期对齐
经营现金流MSCIRVTY
| Q4 25 | $501.1M | $182.0M | ||
| Q3 25 | $449.4M | $138.5M | ||
| Q2 25 | $336.1M | $134.3M | ||
| Q1 25 | $301.7M | $128.2M | ||
| Q4 24 | $430.6M | $174.2M | ||
| Q3 24 | $421.6M | $147.9M | ||
| Q2 24 | $349.2M | $158.6M | ||
| Q1 24 | $300.1M | $147.6M |
自由现金流MSCIRVTY
| Q4 25 | $488.7M | $161.8M | ||
| Q3 25 | $445.5M | $120.0M | ||
| Q2 25 | $324.7M | $115.5M | ||
| Q1 25 | $290.2M | $112.2M | ||
| Q4 24 | $416.4M | $149.8M | ||
| Q3 24 | $415.0M | $125.6M | ||
| Q2 24 | $340.6M | $136.6M | ||
| Q1 24 | $295.9M | $129.7M |
自由现金流率MSCIRVTY
| Q4 25 | 59.4% | 21.0% | ||
| Q3 25 | 56.2% | 17.2% | ||
| Q2 25 | 42.0% | 16.0% | ||
| Q1 25 | 38.9% | 16.9% | ||
| Q4 24 | 56.0% | 20.5% | ||
| Q3 24 | 57.3% | 18.4% | ||
| Q2 24 | 48.1% | 19.7% | ||
| Q1 24 | 43.5% | 20.0% |
资本支出强度MSCIRVTY
| Q4 25 | 1.5% | 2.6% | ||
| Q3 25 | 0.5% | 2.6% | ||
| Q2 25 | 1.5% | 2.6% | ||
| Q1 25 | 1.5% | 2.4% | ||
| Q4 24 | 1.9% | 3.4% | ||
| Q3 24 | 0.9% | 3.3% | ||
| Q2 24 | 1.2% | 3.2% | ||
| Q1 24 | 0.6% | 2.7% |
现金转化率MSCIRVTY
| Q4 25 | 1.76× | 1.85× | ||
| Q3 25 | 1.38× | 2.97× | ||
| Q2 25 | 1.11× | 2.49× | ||
| Q1 25 | 1.05× | 3.03× | ||
| Q4 24 | 1.41× | 1.84× | ||
| Q3 24 | 1.50× | 1.57× | ||
| Q2 24 | 1.31× | 2.87× | ||
| Q1 24 | 1.17× | 5.67× |
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% |
RVTY
| Immunodiagnostics | $240.8M | 31% |
| Life Sciences | $191.4M | 25% |
| Reproductive Health | $149.3M | 19% |
| Segment Operating Income | $132.0M | 17% |
| Software | $62.3M | 8% |
