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诺信（NDSN）与怡安集团（RYAN）财务数据对比。点击上方公司名可切换其他公司
诺信的季度营收约是怡安集团的1.0倍（$751.8M vs $738.0M），诺信净利率更高（20.2% vs 1.1%，领先19.1%），怡安集团同比增速更快（13.6% vs 1.0%），过去两年怡安集团的营收复合增速更高（17.1% vs 9.0%）
诺信（Nordson Corporation）是总部位于美国的跨国企业，专业设计生产民用及工业场景使用的胶粘剂、密封剂、涂料喷涂设备，同时生产电子元器件检测设备、固化及表面处理技术系统，还布局了医疗设备与组件技术相关业务。
怡安集团是一家业务横跨英美两国的专业服务企业，目前主要开展两大板块业务：风险资本板块提供风险管理、保险及再保险领域的经纪与咨询服务；人力资本板块则提供健康保险、退休计划、养老金计划与人才咨询相关服务。
NDSN vs RYAN — 直观对比
营收规模更大
NDSN
是对方的1.0倍
$738.0M
营收增速更快
RYAN
高出12.7%
1.0%
净利率更高
NDSN
高出19.1%
1.1%
两年增速更快
RYAN
近两年复合增速
9.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $751.8M | $738.0M |
| 净利润 | $151.6M | $8.0M |
| 毛利率 | 56.3% | — |
| 营业利润率 | 28.5% | 12.4% |
| 净利率 | 20.2% | 1.1% |
| 营收同比 | 1.0% | 13.6% |
| 净利润同比 | 24.1% | -42.0% |
| 每股收益（稀释后） | $2.67 | — |
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NDSNRYAN
| Q4 25 | $751.8M | $738.0M | ||
| Q3 25 | $741.5M | $739.6M | ||
| Q2 25 | $682.9M | $840.9M | ||
| Q1 25 | $615.4M | $676.1M | ||
| Q4 24 | $744.5M | $649.4M | ||
| Q3 24 | $661.6M | $588.1M | ||
| Q2 24 | $650.6M | $680.2M | ||
| Q1 24 | $633.2M | $537.9M |
净利润NDSNRYAN
| Q4 25 | $151.6M | $8.0M | ||
| Q3 25 | $125.8M | $31.1M | ||
| Q2 25 | $112.4M | $52.0M | ||
| Q1 25 | $94.7M | $-27.6M | ||
| Q4 24 | $122.2M | $13.8M | ||
| Q3 24 | $117.3M | $17.6M | ||
| Q2 24 | $118.2M | $46.8M | ||
| Q1 24 | $109.6M | $16.5M |
毛利率NDSNRYAN
| Q4 25 | 56.3% | — | ||
| Q3 25 | 54.8% | — | ||
| Q2 25 | 54.7% | — | ||
| Q1 25 | 54.6% | — | ||
| Q4 24 | 54.1% | — | ||
| Q3 24 | 55.8% | — | ||
| Q2 24 | 56.2% | — | ||
| Q1 24 | 55.0% | — |
营业利润率NDSNRYAN
| Q4 25 | 28.5% | 12.4% | ||
| Q3 25 | 25.3% | 15.0% | ||
| Q2 25 | 24.7% | 22.7% | ||
| Q1 25 | 22.9% | 14.8% | ||
| Q4 24 | 24.0% | 16.8% | ||
| Q3 24 | 25.3% | 13.9% | ||
| Q2 24 | 25.9% | 24.2% | ||
| Q1 24 | 25.2% | 13.5% |
净利率NDSNRYAN
| Q4 25 | 20.2% | 1.1% | ||
| Q3 25 | 17.0% | 4.2% | ||
| Q2 25 | 16.5% | 6.2% | ||
| Q1 25 | 15.4% | -4.1% | ||
| Q4 24 | 16.4% | 2.1% | ||
| Q3 24 | 17.7% | 3.0% | ||
| Q2 24 | 18.2% | 6.9% | ||
| Q1 24 | 17.3% | 3.1% |
每股收益（稀释后）NDSNRYAN
| Q4 25 | $2.67 | — | ||
| Q3 25 | $2.22 | — | ||
| Q2 25 | $1.97 | — | ||
| Q1 25 | $1.65 | — | ||
| Q4 24 | $2.12 | — | ||
| Q3 24 | $2.04 | — | ||
| Q2 24 | $2.05 | — | ||
| Q1 24 | $1.90 | — |
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 | $108.4M | $158.3M |
| 总债务越低越好 | $2.0B | $3.3B |
| 股东权益账面价值 | $3.0B | $648.1M |
| 总资产 | $5.9B | $10.6B |
| 负债/权益比越低杠杆越低 | 0.66× | 5.16× |
8季度趋势，按日历期对齐
现金及短期投资NDSNRYAN
| Q4 25 | $108.4M | $158.3M | ||
| Q3 25 | $147.8M | $153.5M | ||
| Q2 25 | $130.2M | $172.6M | ||
| Q1 25 | $130.4M | $203.5M | ||
| Q4 24 | $116.0M | $540.2M | ||
| Q3 24 | $165.3M | $235.2M | ||
| Q2 24 | $125.4M | $1.7B | ||
| Q1 24 | $136.2M | $1.6B |
总债务NDSNRYAN
| Q4 25 | $2.0B | $3.3B | ||
| Q3 25 | $2.1B | — | ||
| Q2 25 | $2.2B | — | ||
| Q1 25 | $2.2B | — | ||
| Q4 24 | $2.2B | $3.3B | ||
| Q3 24 | $1.5B | — | ||
| Q2 24 | $1.5B | — | ||
| Q1 24 | $1.6B | — |
股东权益NDSNRYAN
| Q4 25 | $3.0B | $648.1M | ||
| Q3 25 | $3.0B | $630.5M | ||
| Q2 25 | $3.0B | $610.1M | ||
| Q1 25 | $2.9B | $542.5M | ||
| Q4 24 | $2.9B | $627.7M | ||
| Q3 24 | $2.9B | $632.8M | ||
| Q2 24 | $2.8B | $605.9M | ||
| Q1 24 | $2.7B | $554.4M |
总资产NDSNRYAN
| Q4 25 | $5.9B | $10.6B | ||
| Q3 25 | $6.0B | $9.9B | ||
| Q2 25 | $6.1B | $10.6B | ||
| Q1 25 | $5.9B | $9.9B | ||
| Q4 24 | $6.0B | $9.6B | ||
| Q3 24 | $5.2B | $8.5B | ||
| Q2 24 | $5.2B | $8.3B | ||
| Q1 24 | $5.2B | $7.1B |
负债/权益比NDSNRYAN
| Q4 25 | 0.66× | 5.16× | ||
| Q3 25 | 0.71× | — | ||
| Q2 25 | 0.74× | — | ||
| Q1 25 | 0.75× | — | ||
| Q4 24 | 0.75× | 5.22× | ||
| Q3 24 | 0.52× | — | ||
| Q2 24 | 0.55× | — | ||
| Q1 24 | 0.60× | — |
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 | $202.9M | $263.2M |
| 自由现金流经营现金流 - 资本支出 | $193.9M | — |
| 自由现金流率自由现金流/营收 | 25.8% | — |
| 资本支出强度资本支出/营收 | 1.2% | 0.0% |
| 现金转化率经营现金流/净利润 | 1.34× | 32.99× |
| 过去12个月自由现金流最近4个季度 | $661.1M | — |
8季度趋势，按日历期对齐
经营现金流NDSNRYAN
| Q4 25 | $202.9M | $263.2M | ||
| Q3 25 | $238.0M | $169.7M | ||
| Q2 25 | $119.2M | $353.6M | ||
| Q1 25 | $159.1M | $-142.8M | ||
| Q4 24 | $96.4M | $259.6M | ||
| Q3 24 | $164.8M | $100.9M | ||
| Q2 24 | $122.6M | $270.8M | ||
| Q1 24 | $172.4M | $-116.5M |
自由现金流NDSNRYAN
| Q4 25 | $193.9M | — | ||
| Q3 25 | $226.4M | $167.3M | ||
| Q2 25 | $103.1M | — | ||
| Q1 25 | $137.7M | $-143.5M | ||
| Q4 24 | $75.8M | — | ||
| Q3 24 | $143.0M | — | ||
| Q2 24 | $108.2M | — | ||
| Q1 24 | $164.8M | — |
自由现金流率NDSNRYAN
| Q4 25 | 25.8% | — | ||
| Q3 25 | 30.5% | 22.6% | ||
| Q2 25 | 15.1% | — | ||
| Q1 25 | 22.4% | -21.2% | ||
| Q4 24 | 10.2% | — | ||
| Q3 24 | 21.6% | — | ||
| Q2 24 | 16.6% | — | ||
| Q1 24 | 26.0% | — |
资本支出强度NDSNRYAN
| Q4 25 | 1.2% | 0.0% | ||
| Q3 25 | 1.6% | 0.3% | ||
| Q2 25 | 2.3% | 0.0% | ||
| Q1 25 | 3.5% | 0.1% | ||
| Q4 24 | 2.8% | 0.0% | ||
| Q3 24 | 3.3% | 0.0% | ||
| Q2 24 | 2.2% | 0.0% | ||
| Q1 24 | 1.2% | 0.0% |
现金转化率NDSNRYAN
| Q4 25 | 1.34× | 32.99× | ||
| Q3 25 | 1.89× | 5.46× | ||
| Q2 25 | 1.06× | 6.80× | ||
| Q1 25 | 1.68× | — | ||
| Q4 24 | 0.79× | 18.88× | ||
| Q3 24 | 1.41× | 5.74× | ||
| Q2 24 | 1.04× | 5.79× | ||
| Q1 24 | 1.57× | -7.05× |
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
NDSN
| Advanced Technology Systems | $624.5M | 83% |
| Other | $127.3M | 17% |
RYAN
| Wholesale Brokerage | $385.7M | 52% |
| Underwriting Management | $268.3M | 36% |
| Binding Authorities | $84.0M | 11% |
