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MSC INDUSTRIAL DIRECT CO INC（MSM）与西蒙地产集团（SPG）财务数据对比。点击上方公司名可切换其他公司
西蒙地产集团的季度营收约是MSC INDUSTRIAL DIRECT CO INC的1.9倍（$1.8B vs $965.7M），西蒙地产集团净利率更高（197.6% vs 5.4%，领先192.2%），西蒙地产集团同比增速更快（13.2% vs 4.0%），西蒙地产集团自由现金流更多（$948.8M vs $7.4M），过去两年西蒙地产集团的营收复合增速更高（11.4% 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。
西蒙地产集团是美国头部房地产投资信托企业，核心投资范畴涵盖购物中心、奥特莱斯、社区及生活方式中心，是美国规模最大的购物中心持有方，总部位于印第安纳州印第安纳波利斯，截至2024年12月末共持有232处物业的相关权益。
MSM vs SPG — 直观对比
营收规模更大
SPG
是对方的1.9倍
$965.7M
营收增速更快
SPG
高出9.2%
4.0%
净利率更高
SPG
高出192.2%
5.4%
自由现金流更多
SPG
多$941.4M
$7.4M
两年增速更快
SPG
近两年复合增速
-3.4%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $965.7M | $1.8B |
| 净利润 | $51.8M | $3.5B |
| 毛利率 | 40.7% | — |
| 营业利润率 | 7.9% | 49.7% |
| 净利率 | 5.4% | 197.6% |
| 营收同比 | 4.0% | 13.2% |
| 净利润同比 | 11.1% | 358.7% |
| 每股收益（稀释后） | $0.93 | $9.34 |
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MSMSPG
| Q4 25 | $965.7M | $1.8B | ||
| Q3 25 | $978.2M | $1.6B | ||
| Q2 25 | $971.1M | $1.5B | ||
| Q1 25 | — | $1.5B | ||
| Q4 24 | $928.5M | $1.6B | ||
| Q3 24 | — | $1.5B | ||
| Q2 24 | $979.4M | $1.5B | ||
| Q1 24 | $935.3M | $1.4B |
净利润MSMSPG
| Q4 25 | $51.8M | $3.5B | ||
| Q3 25 | $56.5M | $702.7M | ||
| Q2 25 | $56.8M | $643.7M | ||
| Q1 25 | — | $477.9M | ||
| Q4 24 | $46.6M | $771.8M | ||
| Q3 24 | — | $546.7M | ||
| Q2 24 | $71.7M | $569.4M | ||
| Q1 24 | $61.8M | $841.2M |
毛利率MSMSPG
| 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MSMSPG
| Q4 25 | 7.9% | 49.7% | ||
| Q3 25 | 8.6% | 50.8% | ||
| Q2 25 | 8.5% | 49.7% | ||
| Q1 25 | — | 49.4% | ||
| Q4 24 | 7.8% | 52.8% | ||
| Q3 24 | — | 51.9% | ||
| Q2 24 | 10.9% | 51.7% | ||
| Q1 24 | 9.7% | 51.0% |
净利率MSMSPG
| Q4 25 | 5.4% | 197.6% | ||
| Q3 25 | 5.8% | 43.9% | ||
| Q2 25 | 5.9% | 43.0% | ||
| Q1 25 | — | 32.4% | ||
| Q4 24 | 5.0% | 48.8% | ||
| Q3 24 | — | 36.9% | ||
| Q2 24 | 7.3% | 39.0% | ||
| Q1 24 | 6.6% | 58.3% |
每股收益（稀释后）MSMSPG
| Q4 25 | $0.93 | $9.34 | ||
| Q3 25 | $1.02 | $1.86 | ||
| Q2 25 | $1.02 | $1.70 | ||
| Q1 25 | — | $1.27 | ||
| Q4 24 | $0.83 | $2.04 | ||
| Q3 24 | — | $1.46 | ||
| Q2 24 | $1.27 | $1.51 | ||
| Q1 24 | $1.10 | $2.25 |
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 | $823.1M |
| 总债务越低越好 | $214.1M | $28.4B |
| 股东权益账面价值 | $1.4B | $5.2B |
| 总资产 | $2.5B | $40.6B |
| 负债/权益比越低杠杆越低 | 0.16× | 5.46× |
8季度趋势，按日历期对齐
现金及短期投资MSMSPG
| Q4 25 | $40.3M | $823.1M | ||
| Q3 25 | $56.2M | $1.6B | ||
| Q2 25 | $71.7M | $1.2B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | $57.3M | $1.4B | ||
| Q3 24 | — | $2.5B | ||
| Q2 24 | $25.9M | $2.5B | ||
| Q1 24 | $22.2M | $2.6B |
总债务MSMSPG
| Q4 25 | $214.1M | $28.4B | ||
| Q3 25 | $168.8M | $25.8B | ||
| Q2 25 | $285.0M | $25.4B | ||
| Q1 25 | — | $24.8B | ||
| Q4 24 | $289.9M | $24.3B | ||
| Q3 24 | — | $25.4B | ||
| Q2 24 | $299.8M | $25.3B | ||
| Q1 24 | $294.5M | $25.5B |
股东权益MSMSPG
| Q4 25 | $1.4B | $5.2B | ||
| Q3 25 | $1.4B | $2.3B | ||
| Q2 25 | $1.4B | $2.5B | ||
| Q1 25 | — | $2.6B | ||
| Q4 24 | $1.4B | $2.9B | ||
| Q3 24 | — | $2.7B | ||
| Q2 24 | $1.4B | $2.9B | ||
| Q1 24 | $1.4B | $3.1B |
总资产MSMSPG
| Q4 25 | $2.5B | $40.6B | ||
| Q3 25 | $2.5B | $33.6B | ||
| Q2 25 | $2.5B | $33.3B | ||
| Q1 25 | — | $32.5B | ||
| Q4 24 | $2.5B | $32.4B | ||
| Q3 24 | — | $33.3B | ||
| Q2 24 | $2.5B | $33.4B | ||
| Q1 24 | $2.5B | $33.7B |
负债/权益比MSMSPG
| Q4 25 | 0.16× | 5.46× | ||
| Q3 25 | 0.12× | 10.98× | ||
| Q2 25 | 0.21× | 10.36× | ||
| Q1 25 | — | 9.50× | ||
| Q4 24 | 0.21× | 8.25× | ||
| Q3 24 | — | 9.37× | ||
| Q2 24 | 0.21× | 8.59× | ||
| Q1 24 | 0.21× | 8.22× |
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 | $1.2B |
| 自由现金流经营现金流 - 资本支出 | $7.4M | $948.8M |
| 自由现金流率自由现金流/营收 | 0.8% | 53.0% |
| 资本支出强度资本支出/营收 | 2.3% | 14.2% |
| 现金转化率经营现金流/净利润 | 0.57× | 0.34× |
| 过去12个月自由现金流最近4个季度 | — | $3.2B |
8季度趋势，按日历期对齐
经营现金流MSMSPG
| Q4 25 | $29.4M | $1.2B | ||
| Q3 25 | — | $890.3M | ||
| Q2 25 | $151.6M | $1.2B | ||
| Q1 25 | — | $827.2M | ||
| Q4 24 | $101.9M | $1.1B | ||
| Q3 24 | — | $892.9M | ||
| Q2 24 | $143.5M | $1.1B | ||
| Q1 24 | $78.7M | $773.1M |
自由现金流MSMSPG
| Q4 25 | $7.4M | $948.8M | ||
| Q3 25 | — | $685.0M | ||
| Q2 25 | $100.7M | $971.3M | ||
| Q1 25 | — | $597.0M | ||
| Q4 24 | $81.7M | $867.7M | ||
| Q3 24 | — | $706.5M | ||
| Q2 24 | $114.0M | $874.8M | ||
| Q1 24 | $53.4M | $610.1M |
自由现金流率MSMSPG
| Q4 25 | 0.8% | 53.0% | ||
| Q3 25 | — | 42.8% | ||
| Q2 25 | 10.4% | 64.8% | ||
| Q1 25 | — | 40.5% | ||
| Q4 24 | 8.8% | 54.8% | ||
| Q3 24 | — | 47.7% | ||
| Q2 24 | 11.6% | 60.0% | ||
| Q1 24 | 5.7% | 42.3% |
资本支出强度MSMSPG
| Q4 25 | 2.3% | 14.2% | ||
| Q3 25 | — | 12.8% | ||
| Q2 25 | 5.2% | 16.3% | ||
| Q1 25 | — | 15.6% | ||
| Q4 24 | 2.2% | 13.8% | ||
| Q3 24 | — | 12.6% | ||
| Q2 24 | 3.0% | 12.9% | ||
| Q1 24 | 2.7% | 11.3% |
现金转化率MSMSPG
| Q4 25 | 0.57× | 0.34× | ||
| Q3 25 | — | 1.27× | ||
| Q2 25 | 2.67× | 1.89× | ||
| Q1 25 | — | 1.73× | ||
| Q4 24 | 2.18× | 1.41× | ||
| Q3 24 | — | 1.63× | ||
| Q2 24 | 2.00× | 1.87× | ||
| Q1 24 | 1.27× | 0.92× |
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
SPG
| Real Estate Segment | $1.7B | 95% |
| Other | $86.3M | 5% |
