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MSC INDUSTRIAL DIRECT CO INC（MSM）与SELECT MEDICAL HOLDINGS CORP（SEM）财务数据对比。点击上方公司名可切换其他公司
SELECT MEDICAL HOLDINGS CORP的季度营收约是MSC INDUSTRIAL DIRECT CO INC的1.4倍（$1.4B vs $965.7M），MSC INDUSTRIAL DIRECT CO INC净利率更高（5.4% vs 1.4%，领先3.9%），SELECT MEDICAL HOLDINGS CORP同比增速更快（6.4% vs 4.0%），MSC INDUSTRIAL DIRECT CO INC自由现金流更多（$7.4M vs $5.2M），过去两年SELECT MEDICAL HOLDINGS CORP的营收复合增速更高（2.8% vs -3.4%）
MSC工业直销公司（MSC）通过旗下主要子公司MSC工业供应公司，是美国规模最大的工业设备分销商之一，可提供超过150万种金属加工及其他工业类产品，广泛服务于工业制造、维修运维等领域的客户需求。
Select Medical是总部位于美国宾夕法尼亚州的医疗健康企业，业务涵盖长期急症护理、住院康复医院运营，同时开设有职业健康与物理治疗诊所，母公司Select Medical Holdings在纽约证券交易所挂牌上市。
MSM vs SEM — 直观对比
营收规模更大
SEM
是对方的1.4倍
$965.7M
营收增速更快
SEM
高出2.4%
4.0%
净利率更高
MSM
高出3.9%
1.4%
自由现金流更多
MSM
多$2.2M
$5.2M
两年增速更快
SEM
近两年复合增速
-3.4%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $965.7M | $1.4B |
| 净利润 | $51.8M | $20.2M |
| 毛利率 | 40.7% | — |
| 营业利润率 | 7.9% | 4.6% |
| 净利率 | 5.4% | 1.4% |
| 营收同比 | 4.0% | 6.4% |
| 净利润同比 | 11.1% | 225.7% |
| 每股收益（稀释后） | $0.93 | $0.17 |
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MSMSEM
| Q4 25 | $965.7M | $1.4B | ||
| Q3 25 | $978.2M | $1.4B | ||
| Q2 25 | $971.1M | $1.3B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | $928.5M | $1.3B | ||
| Q3 24 | — | $1.3B | ||
| Q2 24 | $979.4M | $1.3B | ||
| Q1 24 | $935.3M | $1.3B |
净利润MSMSEM
| Q4 25 | $51.8M | $20.2M | ||
| Q3 25 | $56.5M | $28.8M | ||
| Q2 25 | $56.8M | $40.6M | ||
| Q1 25 | — | $56.7M | ||
| Q4 24 | $46.6M | $-16.1M | ||
| Q3 24 | — | $55.6M | ||
| Q2 24 | $71.7M | $77.6M | ||
| Q1 24 | $61.8M | $96.9M |
毛利率MSMSEM
| Q4 25 | 40.7% | — | ||
| Q3 25 | 40.4% | — | ||
| Q2 25 | 41.0% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 40.7% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 40.9% | — | ||
| Q1 24 | 41.5% | — |
营业利润率MSMSEM
| Q4 25 | 7.9% | 4.6% | ||
| Q3 25 | 8.6% | 5.4% | ||
| Q2 25 | 8.5% | 6.5% | ||
| Q1 25 | — | 8.3% | ||
| Q4 24 | 7.8% | 1.6% | ||
| Q3 24 | — | 4.3% | ||
| Q2 24 | 10.9% | 5.8% | ||
| Q1 24 | 9.7% | 9.0% |
净利率MSMSEM
| Q4 25 | 5.4% | 1.4% | ||
| Q3 25 | 5.8% | 2.1% | ||
| Q2 25 | 5.9% | 3.0% | ||
| Q1 25 | — | 4.2% | ||
| Q4 24 | 5.0% | -1.2% | ||
| Q3 24 | — | 4.4% | ||
| Q2 24 | 7.3% | 6.1% | ||
| Q1 24 | 6.6% | 7.3% |
每股收益（稀释后）MSMSEM
| Q4 25 | $0.93 | $0.17 | ||
| Q3 25 | $1.02 | $0.23 | ||
| Q2 25 | $1.02 | $0.32 | ||
| Q1 25 | — | $0.44 | ||
| Q4 24 | $0.83 | $-0.12 | ||
| Q3 24 | — | $0.43 | ||
| Q2 24 | $1.27 | $0.60 | ||
| Q1 24 | $1.10 | $0.75 |
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 | $40.3M | $26.5M |
| 总债务越低越好 | $214.1M | $1.8B |
| 股东权益账面价值 | $1.4B | $1.7B |
| 总资产 | $2.5B | $5.9B |
| 负债/权益比越低杠杆越低 | 0.16× | 1.06× |
8季度趋势，按日历期对齐
现金及短期投资MSMSEM
| Q4 25 | $40.3M | $26.5M | ||
| Q3 25 | $56.2M | $60.1M | ||
| Q2 25 | $71.7M | $52.3M | ||
| Q1 25 | — | $53.2M | ||
| Q4 24 | $57.3M | $59.7M | ||
| Q3 24 | — | $191.5M | ||
| Q2 24 | $25.9M | $111.2M | ||
| Q1 24 | $22.2M | $92.6M |
总债务MSMSEM
| Q4 25 | $214.1M | $1.8B | ||
| Q3 25 | $168.8M | $1.7B | ||
| Q2 25 | $285.0M | $1.8B | ||
| Q1 25 | — | $1.8B | ||
| Q4 24 | $289.9M | $1.7B | ||
| Q3 24 | — | $3.1B | ||
| Q2 24 | $299.8M | $3.6B | ||
| Q1 24 | $294.5M | $3.8B |
股东权益MSMSEM
| Q4 25 | $1.4B | $1.7B | ||
| Q3 25 | $1.4B | $1.7B | ||
| Q2 25 | $1.4B | $1.7B | ||
| Q1 25 | — | $1.7B | ||
| Q4 24 | $1.4B | $1.7B | ||
| Q3 24 | — | $1.9B | ||
| Q2 24 | $1.4B | $1.4B | ||
| Q1 24 | $1.4B | $1.4B |
总资产MSMSEM
| Q4 25 | $2.5B | $5.9B | ||
| Q3 25 | $2.5B | $5.7B | ||
| Q2 25 | $2.5B | $5.7B | ||
| Q1 25 | — | $5.7B | ||
| Q4 24 | $2.5B | $5.6B | ||
| Q3 24 | — | $8.0B | ||
| Q2 24 | $2.5B | $7.9B | ||
| Q1 24 | $2.5B | $7.9B |
负债/权益比MSMSEM
| Q4 25 | 0.16× | 1.06× | ||
| Q3 25 | 0.12× | 1.03× | ||
| Q2 25 | 0.21× | 1.10× | ||
| Q1 25 | — | 1.03× | ||
| Q4 24 | 0.21× | 1.01× | ||
| Q3 24 | — | 1.62× | ||
| Q2 24 | 0.21× | 2.54× | ||
| Q1 24 | 0.21× | 2.75× |
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 | $29.4M | $64.3M |
| 自由现金流经营现金流 - 资本支出 | $7.4M | $5.2M |
| 自由现金流率自由现金流/营收 | 0.8% | 0.4% |
| 资本支出强度资本支出/营收 | 2.3% | 4.2% |
| 现金转化率经营现金流/净利润 | 0.57× | 3.19× |
| 过去12个月自由现金流最近4个季度 | — | $117.2M |
8季度趋势，按日历期对齐
经营现金流MSMSEM
| Q4 25 | $29.4M | $64.3M | ||
| Q3 25 | — | $175.3M | ||
| Q2 25 | $151.6M | $110.3M | ||
| Q1 25 | — | $-3.5M | ||
| Q4 24 | $101.9M | $125.4M | ||
| Q3 24 | — | $181.0M | ||
| Q2 24 | $143.5M | $278.2M | ||
| Q1 24 | $78.7M | $-66.7M |
自由现金流MSMSEM
| Q4 25 | $7.4M | $5.2M | ||
| Q3 25 | — | $122.2M | ||
| Q2 25 | $100.7M | $45.6M | ||
| Q1 25 | — | $-55.8M | ||
| Q4 24 | $81.7M | $62.0M | ||
| Q3 24 | — | $130.3M | ||
| Q2 24 | $114.0M | $222.6M | ||
| Q1 24 | $53.4M | $-119.2M |
自由现金流率MSMSEM
| Q4 25 | 0.8% | 0.4% | ||
| Q3 25 | — | 9.0% | ||
| Q2 25 | 10.4% | 3.4% | ||
| Q1 25 | — | -4.1% | ||
| Q4 24 | 8.8% | 4.7% | ||
| Q3 24 | — | 10.2% | ||
| Q2 24 | 11.6% | 17.4% | ||
| Q1 24 | 5.7% | -9.0% |
资本支出强度MSMSEM
| Q4 25 | 2.3% | 4.2% | ||
| Q3 25 | — | 3.9% | ||
| Q2 25 | 5.2% | 4.8% | ||
| Q1 25 | — | 3.9% | ||
| Q4 24 | 2.2% | 4.8% | ||
| Q3 24 | — | 4.0% | ||
| Q2 24 | 3.0% | 4.3% | ||
| Q1 24 | 2.7% | 4.0% |
现金转化率MSMSEM
| Q4 25 | 0.57× | 3.19× | ||
| Q3 25 | — | 6.09× | ||
| Q2 25 | 2.67× | 2.72× | ||
| Q1 25 | — | -0.06× | ||
| Q4 24 | 2.18× | — | ||
| Q3 24 | — | 3.25× | ||
| Q2 24 | 2.00× | 3.59× | ||
| Q1 24 | 1.27× | -0.69× |
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
MSM
暂无分部数据
SEM
| Critical Illness Recovery Hospitals | $629.7M | 45% |
| Health Care Patient Service Non Medicare | $428.6M | 31% |
| Rehabilitation Hospitals | $339.2M | 24% |
