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MSC INDUSTRIAL DIRECT CO INC（MSM）与罗塞塔石碑（STEP）财务数据对比。点击上方公司名可切换其他公司
MSC INDUSTRIAL DIRECT CO INC的季度营收约是罗塞塔石碑的1.6倍（$965.7M vs $586.5M），MSC INDUSTRIAL DIRECT CO INC净利率更高（5.4% vs -21.0%，领先26.4%），罗塞塔石碑同比增速更快（73.0% vs 4.0%），罗塞塔石碑自由现金流更多（$26.7M vs $7.4M），过去两年罗塞塔石碑的营收复合增速更高（28.2% 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。
罗塞塔石碑是美国教育科技软件企业，开发语言学习、读写能力提升及脑训练类软件，旗下语言学习产品知名度极高。2013年公司收购Livemocha、Lexia Learning等品牌拓展教育科技业务矩阵，2021年正式成为IXL Learning的子公司。
MSM vs STEP — 直观对比
营收规模更大
MSM
是对方的1.6倍
$586.5M
营收增速更快
STEP
高出69.0%
4.0%
净利率更高
MSM
高出26.4%
-21.0%
自由现金流更多
STEP
多$19.3M
$7.4M
两年增速更快
STEP
近两年复合增速
-3.4%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $965.7M | $586.5M |
| 净利润 | $51.8M | $-123.5M |
| 毛利率 | 40.7% | — |
| 营业利润率 | 7.9% | -33.2% |
| 净利率 | 5.4% | -21.0% |
| 营收同比 | 4.0% | 73.0% |
| 净利润同比 | 11.1% | 35.7% |
| 每股收益（稀释后） | $0.93 | $-1.55 |
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MSMSTEP
| Q4 25 | $965.7M | $586.5M | ||
| Q3 25 | $978.2M | $454.2M | ||
| Q2 25 | $971.1M | $364.3M | ||
| Q1 25 | — | $377.7M | ||
| Q4 24 | $928.5M | $339.0M | ||
| Q3 24 | — | $271.7M | ||
| Q2 24 | $979.4M | $186.4M | ||
| Q1 24 | $935.3M | $356.8M |
净利润MSMSTEP
| Q4 25 | $51.8M | $-123.5M | ||
| Q3 25 | $56.5M | $-366.1M | ||
| Q2 25 | $56.8M | $-38.4M | ||
| Q1 25 | — | $-18.5M | ||
| Q4 24 | $46.6M | $-192.0M | ||
| Q3 24 | — | $17.6M | ||
| Q2 24 | $71.7M | $13.3M | ||
| Q1 24 | $61.8M | $30.8M |
毛利率MSMSTEP
| 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MSMSTEP
| Q4 25 | 7.9% | -33.2% | ||
| Q3 25 | 8.6% | -148.8% | ||
| Q2 25 | 8.5% | -5.6% | ||
| Q1 25 | — | 2.6% | ||
| Q4 24 | 7.8% | -101.7% | ||
| Q3 24 | — | 21.3% | ||
| Q2 24 | 10.9% | 29.4% | ||
| Q1 24 | 9.7% | 26.5% |
净利率MSMSTEP
| Q4 25 | 5.4% | -21.0% | ||
| Q3 25 | 5.8% | -80.6% | ||
| Q2 25 | 5.9% | -10.5% | ||
| Q1 25 | — | -4.9% | ||
| Q4 24 | 5.0% | -56.6% | ||
| Q3 24 | — | 6.5% | ||
| Q2 24 | 7.3% | 7.2% | ||
| Q1 24 | 6.6% | 8.6% |
每股收益（稀释后）MSMSTEP
| Q4 25 | $0.93 | $-1.55 | ||
| Q3 25 | $1.02 | $-4.66 | ||
| Q2 25 | $1.02 | $-0.49 | ||
| Q1 25 | — | $-0.37 | ||
| Q4 24 | $0.83 | $-2.61 | ||
| Q3 24 | — | $0.26 | ||
| Q2 24 | $1.27 | $0.20 | ||
| Q1 24 | $1.10 | $0.47 |
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 | — |
| 总债务越低越好 | $214.1M | $270.2M |
| 股东权益账面价值 | $1.4B | $-378.8M |
| 总资产 | $2.5B | $5.2B |
| 负债/权益比越低杠杆越低 | 0.16× | — |
8季度趋势，按日历期对齐
现金及短期投资MSMSTEP
| Q4 25 | $40.3M | — | ||
| Q3 25 | $56.2M | — | ||
| Q2 25 | $71.7M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $57.3M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $25.9M | — | ||
| Q1 24 | $22.2M | — |
总债务MSMSTEP
| Q4 25 | $214.1M | $270.2M | ||
| Q3 25 | $168.8M | $269.9M | ||
| Q2 25 | $285.0M | $269.6M | ||
| Q1 25 | — | $269.3M | ||
| Q4 24 | $289.9M | $168.9M | ||
| Q3 24 | — | $172.3M | ||
| Q2 24 | $299.8M | $172.1M | ||
| Q1 24 | $294.5M | $148.8M |
股东权益MSMSTEP
| Q4 25 | $1.4B | $-378.8M | ||
| Q3 25 | $1.4B | $-233.5M | ||
| Q2 25 | $1.4B | $153.9M | ||
| Q1 25 | — | $179.4M | ||
| Q4 24 | $1.4B | $209.8M | ||
| Q3 24 | — | $397.5M | ||
| Q2 24 | $1.4B | $366.9M | ||
| Q1 24 | $1.4B | $324.5M |
总资产MSMSTEP
| Q4 25 | $2.5B | $5.2B | ||
| Q3 25 | $2.5B | $5.3B | ||
| Q2 25 | $2.5B | $4.8B | ||
| Q1 25 | — | $4.6B | ||
| Q4 24 | $2.5B | $4.3B | ||
| Q3 24 | — | $4.0B | ||
| Q2 24 | $2.5B | $3.8B | ||
| Q1 24 | $2.5B | $3.8B |
负债/权益比MSMSTEP
| Q4 25 | 0.16× | — | ||
| Q3 25 | 0.12× | — | ||
| Q2 25 | 0.21× | 1.75× | ||
| Q1 25 | — | 1.50× | ||
| Q4 24 | 0.21× | 0.81× | ||
| Q3 24 | — | 0.43× | ||
| Q2 24 | 0.21× | 0.47× | ||
| Q1 24 | 0.21× | 0.46× |
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 | $27.2M |
| 自由现金流经营现金流 - 资本支出 | $7.4M | $26.7M |
| 自由现金流率自由现金流/营收 | 0.8% | 4.6% |
| 资本支出强度资本支出/营收 | 2.3% | 0.1% |
| 现金转化率经营现金流/净利润 | 0.57× | — |
| 过去12个月自由现金流最近4个季度 | — | $18.6M |
8季度趋势，按日历期对齐
经营现金流MSMSTEP
| Q4 25 | $29.4M | $27.2M | ||
| Q3 25 | — | $16.2M | ||
| Q2 25 | $151.6M | $46.3M | ||
| Q1 25 | — | $-66.5M | ||
| Q4 24 | $101.9M | $27.6M | ||
| Q3 24 | — | $53.7M | ||
| Q2 24 | $143.5M | $50.2M | ||
| Q1 24 | $78.7M | $7.6M |
自由现金流MSMSTEP
| Q4 25 | $7.4M | $26.7M | ||
| Q3 25 | — | $15.9M | ||
| Q2 25 | $100.7M | $45.2M | ||
| Q1 25 | — | $-69.2M | ||
| Q4 24 | $81.7M | $27.0M | ||
| Q3 24 | — | $52.4M | ||
| Q2 24 | $114.0M | $49.6M | ||
| Q1 24 | $53.4M | $6.7M |
自由现金流率MSMSTEP
| Q4 25 | 0.8% | 4.6% | ||
| Q3 25 | — | 3.5% | ||
| Q2 25 | 10.4% | 12.4% | ||
| Q1 25 | — | -18.3% | ||
| Q4 24 | 8.8% | 8.0% | ||
| Q3 24 | — | 19.3% | ||
| Q2 24 | 11.6% | 26.6% | ||
| Q1 24 | 5.7% | 1.9% |
资本支出强度MSMSTEP
| Q4 25 | 2.3% | 0.1% | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | 5.2% | 0.3% | ||
| Q1 25 | — | 0.7% | ||
| Q4 24 | 2.2% | 0.2% | ||
| Q3 24 | — | 0.5% | ||
| Q2 24 | 3.0% | 0.3% | ||
| Q1 24 | 2.7% | 0.3% |
现金转化率MSMSTEP
| Q4 25 | 0.57× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 2.67× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.18× | — | ||
| Q3 24 | — | 3.05× | ||
| Q2 24 | 2.00× | 3.76× | ||
| Q1 24 | 1.27× | 0.25× |
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
STEP
| Other | $210.1M | 36% |
| Management And Advisory Fees Net Focused Commingled Funds | $143.3M | 24% |
| Carried Interest Allocation Focused Commingled Funds | $85.1M | 15% |
| Carried Interest Allocation Separately Managed Accounts | $63.6M | 11% |
| Carried Interest Allocation Realized | $46.7M | 8% |
| Management And Advisory Fees Net Advisory And Other Services | $18.3M | 3% |
| Legacy Carried Interest Allocation Focused Commingled Funds | $10.3M | 2% |
| Income Based Incentive Fees | $6.0M | 1% |
| Management And Advisory Fees Net Fund Reimbursement Revenues | $3.1M | 1% |
