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MSC INDUSTRIAL DIRECT CO INC（MSM）与VEEVA SYSTEMS INC（VEEV）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VEEVA SYSTEMS INC的1.2倍（$965.7M vs $811.2M），VEEVA SYSTEMS INC净利率更高（29.1% vs 5.4%，领先23.8%），VEEVA SYSTEMS INC同比增速更快（16.0% vs 4.0%），过去两年VEEVA SYSTEMS INC的营收复合增速更高（13.4% 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。
Veeva Systems Inc总部位于美国加利福尼亚州普莱森顿，是一家公益类上市企业，专注为生命科学行业提供云软件、数据服务及商业咨询，旗下产品可实现数据管理、监管注册跟踪、供应链全流程监督等多项功能。
MSM vs VEEV — 直观对比
营收规模更大
MSM
是对方的1.2倍
$811.2M
营收增速更快
VEEV
高出12.0%
4.0%
净利率更高
VEEV
高出23.8%
5.4%
两年增速更快
VEEV
近两年复合增速
-3.4%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $965.7M | $811.2M |
| 净利润 | $51.8M | $236.2M |
| 毛利率 | 40.7% | 75.4% |
| 营业利润率 | 7.9% | 29.7% |
| 净利率 | 5.4% | 29.1% |
| 营收同比 | 4.0% | 16.0% |
| 净利润同比 | 11.1% | 27.1% |
| 每股收益（稀释后） | $0.93 | $1.40 |
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MSMVEEV
| Q4 25 | $965.7M | $811.2M | ||
| Q3 25 | $978.2M | $789.1M | ||
| Q2 25 | $971.1M | $759.0M | ||
| Q1 25 | — | $720.9M | ||
| Q4 24 | $928.5M | $699.2M | ||
| Q3 24 | — | $676.2M | ||
| Q2 24 | $979.4M | $650.3M | ||
| Q1 24 | $935.3M | $630.6M |
净利润MSMVEEV
| Q4 25 | $51.8M | $236.2M | ||
| Q3 25 | $56.5M | $200.3M | ||
| Q2 25 | $56.8M | $228.2M | ||
| Q1 25 | — | $195.6M | ||
| Q4 24 | $46.6M | $185.8M | ||
| Q3 24 | — | $171.0M | ||
| Q2 24 | $71.7M | $161.7M | ||
| Q1 24 | $61.8M | $147.4M |
毛利率MSMVEEV
| Q4 25 | 40.7% | 75.4% | ||
| Q3 25 | 40.4% | 75.3% | ||
| Q2 25 | 41.0% | 77.1% | ||
| Q1 25 | — | 74.9% | ||
| Q4 24 | 40.7% | 75.1% | ||
| Q3 24 | — | 74.8% | ||
| Q2 24 | 40.9% | 73.3% | ||
| Q1 24 | 41.5% | 72.4% |
营业利润率MSMVEEV
| Q4 25 | 7.9% | 29.7% | ||
| Q3 25 | 8.6% | 24.8% | ||
| Q2 25 | 8.5% | 30.8% | ||
| Q1 25 | — | 26.1% | ||
| Q4 24 | 7.8% | 25.9% | ||
| Q3 24 | — | 24.6% | ||
| Q2 24 | 10.9% | 23.9% | ||
| Q1 24 | 9.7% | 21.4% |
净利率MSMVEEV
| Q4 25 | 5.4% | 29.1% | ||
| Q3 25 | 5.8% | 25.4% | ||
| Q2 25 | 5.9% | 30.1% | ||
| Q1 25 | — | 27.1% | ||
| Q4 24 | 5.0% | 26.6% | ||
| Q3 24 | — | 25.3% | ||
| Q2 24 | 7.3% | 24.9% | ||
| Q1 24 | 6.6% | 23.4% |
每股收益（稀释后）MSMVEEV
| Q4 25 | $0.93 | $1.40 | ||
| Q3 25 | $1.02 | $1.19 | ||
| Q2 25 | $1.02 | $1.37 | ||
| Q1 25 | — | $1.17 | ||
| Q4 24 | $0.83 | $1.13 | ||
| Q3 24 | — | $1.04 | ||
| Q2 24 | $1.27 | $0.98 | ||
| Q1 24 | $1.10 | $0.90 |
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 | $1.7B |
| 总债务越低越好 | $214.1M | — |
| 股东权益账面价值 | $1.4B | $7.0B |
| 总资产 | $2.5B | $8.1B |
| 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MSMVEEV
| Q4 25 | $40.3M | $1.7B | ||
| Q3 25 | $56.2M | $1.9B | ||
| Q2 25 | $71.7M | $2.0B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | $57.3M | $1.0B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | $25.9M | $1.2B | ||
| Q1 24 | $22.2M | $703.5M |
总债务MSMVEEV
| Q4 25 | $214.1M | — | ||
| Q3 25 | $168.8M | — | ||
| Q2 25 | $285.0M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $289.9M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $299.8M | — | ||
| Q1 24 | $294.5M | — |
股东权益MSMVEEV
| Q4 25 | $1.4B | $7.0B | ||
| Q3 25 | $1.4B | $6.6B | ||
| Q2 25 | $1.4B | $6.2B | ||
| Q1 25 | — | $5.8B | ||
| Q4 24 | $1.4B | $5.5B | ||
| Q3 24 | — | $5.2B | ||
| Q2 24 | $1.4B | $4.9B | ||
| Q1 24 | $1.4B | $4.6B |
总资产MSMVEEV
| Q4 25 | $2.5B | $8.1B | ||
| Q3 25 | $2.5B | $8.0B | ||
| Q2 25 | $2.5B | $7.8B | ||
| Q1 25 | — | $7.3B | ||
| Q4 24 | $2.5B | $6.5B | ||
| Q3 24 | — | $6.3B | ||
| Q2 24 | $2.5B | $6.2B | ||
| Q1 24 | $2.5B | $5.9B |
负债/权益比MSMVEEV
| Q4 25 | 0.16× | — | ||
| Q3 25 | 0.12× | — | ||
| Q2 25 | 0.21× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.21× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.21× | — | ||
| Q1 24 | 0.21× | — |
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 | $192.8M |
| 自由现金流经营现金流 - 资本支出 | $7.4M | — |
| 自由现金流率自由现金流/营收 | 0.8% | — |
| 资本支出强度资本支出/营收 | 2.3% | — |
| 现金转化率经营现金流/净利润 | 0.57× | 0.82× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流MSMVEEV
| Q4 25 | $29.4M | $192.8M | ||
| Q3 25 | — | $238.4M | ||
| Q2 25 | $151.6M | $877.2M | ||
| Q1 25 | — | $69.5M | ||
| Q4 24 | $101.9M | $164.1M | ||
| Q3 24 | — | $92.9M | ||
| Q2 24 | $143.5M | $763.5M | ||
| Q1 24 | $78.7M | $57.8M |
自由现金流MSMVEEV
| Q4 25 | $7.4M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $100.7M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $81.7M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $114.0M | — | ||
| Q1 24 | $53.4M | — |
自由现金流率MSMVEEV
| Q4 25 | 0.8% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 10.4% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 8.8% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 11.6% | — | ||
| Q1 24 | 5.7% | — |
资本支出强度MSMVEEV
| Q4 25 | 2.3% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 5.2% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.2% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 3.0% | — | ||
| Q1 24 | 2.7% | — |
现金转化率MSMVEEV
| Q4 25 | 0.57× | 0.82× | ||
| Q3 25 | — | 1.19× | ||
| Q2 25 | 2.67× | 3.84× | ||
| Q1 25 | — | 0.36× | ||
| Q4 24 | 2.18× | 0.88× | ||
| Q3 24 | — | 0.54× | ||
| Q2 24 | 2.00× | 4.72× | ||
| Q1 24 | 1.27× | 0.39× |
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
VEEV
| Subscription Services Veeva Research And Development | $364.8M | 45% |
| Subscription Services Veeva Commercial Cloud | $317.6M | 39% |
| Professional Services Veeva Research And Development | $81.3M | 10% |
| Professional Services Veeva Commercial Cloud | $47.5M | 6% |
