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Paychex（PAYX）与PLEXUS CORP（PLXS）财务数据对比。点击上方公司名可切换其他公司
Paychex的季度营收约是PLEXUS CORP的1.6倍（$1.5B vs $944.6M），Paychex净利率更高（26.3% vs 4.3%，领先22.0%），Paychex同比增速更快（17.4% vs -18.1%），Paychex自由现金流更多（$382.8M vs $61.8M），过去两年PLEXUS CORP的营收复合增速更高（5.9% vs 3.8%）
Paychex是美国知名人力资源服务提供商，1971年成立，总部位于纽约州罗切斯特，面向中小微企业提供薪资管理、人力资源外包、员工福利外包等服务。目前在美欧地区拥有超100个办事处，服务约80万家薪资客户，位列《财富》500强第681位。
Plexus Corp是总部位于美国密歇根州特洛伊市的软件企业，专注于开发及推广Plex制造云产品，这是一款面向制造行业的SaaS模式云计算ERP解决方案，可助力制造企业实现数字化运营管理升级。
PAYX vs PLXS — 直观对比
营收规模更大
PAYX
是对方的1.6倍
$944.6M
营收增速更快
PAYX
高出35.5%
-18.1%
净利率更高
PAYX
高出22.0%
4.3%
自由现金流更多
PAYX
多$321.0M
$61.8M
两年增速更快
PLXS
近两年复合增速
3.8%
损益表 — Q2 FY2026 vs Q4 FY2023
| 指标 | | |
|---|---|---|
| 营收 | $1.5B | $944.6M |
| 净利润 | $395.4M | $40.3M |
| 毛利率 | 72.6% | 10.2% |
| 营业利润率 | 38.0% | 5.6% |
| 净利率 | 26.3% | 4.3% |
| 营收同比 | 17.4% | -18.1% |
| 净利润同比 | -4.4% | -20.2% |
| 每股收益（稀释后） | $1.10 | $1.45 |
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PAYXPLXS
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.5B | — | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $1.3B | — | ||
| Q1 24 | $1.4B | — |
净利润PAYXPLXS
| Q4 25 | $395.4M | — | ||
| Q3 25 | $383.8M | — | ||
| Q2 25 | $297.2M | — | ||
| Q1 25 | $519.3M | — | ||
| Q4 24 | $413.4M | — | ||
| Q3 24 | $427.4M | — | ||
| Q2 24 | $379.9M | — | ||
| Q1 24 | $498.6M | — |
毛利率PAYXPLXS
| Q4 25 | 72.6% | — | ||
| Q3 25 | 72.3% | — | ||
| Q2 25 | 71.5% | — | ||
| Q1 25 | 73.6% | — | ||
| Q4 24 | 70.4% | — | ||
| Q3 24 | 70.3% | — | ||
| Q2 24 | 70.1% | — | ||
| Q1 24 | 72.8% | — |
营业利润率PAYXPLXS
| Q4 25 | 38.0% | — | ||
| Q3 25 | 36.3% | — | ||
| Q2 25 | 31.2% | — | ||
| Q1 25 | 47.2% | — | ||
| Q4 24 | 42.0% | — | ||
| Q3 24 | 42.7% | — | ||
| Q2 24 | 38.3% | — | ||
| Q1 24 | 46.6% | — |
净利率PAYXPLXS
| Q4 25 | 26.3% | — | ||
| Q3 25 | 25.7% | — | ||
| Q2 25 | 21.5% | — | ||
| Q1 25 | 35.4% | — | ||
| Q4 24 | 32.3% | — | ||
| Q3 24 | 33.4% | — | ||
| Q2 24 | 30.2% | — | ||
| Q1 24 | 35.7% | — |
每股收益（稀释后）PAYXPLXS
| Q4 25 | $1.10 | — | ||
| Q3 25 | $1.06 | — | ||
| Q2 25 | $0.83 | — | ||
| Q1 25 | $1.43 | — | ||
| Q4 24 | $1.14 | — | ||
| Q3 24 | $1.18 | — | ||
| Q2 24 | $1.05 | — | ||
| Q1 24 | $1.38 | — |
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 | $1.5B | $256.2M |
| 总债务越低越好 | $5.0B | — |
| 股东权益账面价值 | $3.9B | $1.2B |
| 总资产 | $16.5B | $3.3B |
| 负债/权益比越低杠杆越低 | 1.28× | — |
8季度趋势，按日历期对齐
现金及短期投资PAYXPLXS
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.6B | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.5B | — | ||
| Q2 24 | $1.5B | — | ||
| Q1 24 | $1.7B | — |
总债务PAYXPLXS
| Q4 25 | $5.0B | — | ||
| Q3 25 | $5.0B | — | ||
| Q2 25 | $4.9B | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $798.6M | — | ||
| Q1 24 | — | — |
股东权益PAYXPLXS
| Q4 25 | $3.9B | — | ||
| Q3 25 | $4.0B | — | ||
| Q2 25 | $4.1B | — | ||
| Q1 25 | $4.1B | — | ||
| Q4 24 | $3.9B | — | ||
| Q3 24 | $3.9B | — | ||
| Q2 24 | $3.8B | — | ||
| Q1 24 | $3.7B | — |
总资产PAYXPLXS
| Q4 25 | $16.5B | — | ||
| Q3 25 | $16.7B | — | ||
| Q2 25 | $16.6B | — | ||
| Q1 25 | $11.2B | — | ||
| Q4 24 | $10.6B | — | ||
| Q3 24 | $10.5B | — | ||
| Q2 24 | $10.4B | — | ||
| Q1 24 | $13.0B | — |
负债/权益比PAYXPLXS
| Q4 25 | 1.28× | — | ||
| Q3 25 | 1.25× | — | ||
| Q2 25 | 1.20× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.21× | — | ||
| Q1 24 | — | — |
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 | $444.9M | $165.8M |
| 自由现金流经营现金流 - 资本支出 | $382.8M | $61.8M |
| 自由现金流率自由现金流/营收 | 25.5% | 6.5% |
| 资本支出强度资本支出/营收 | 4.1% | 11.0% |
| 现金转化率经营现金流/净利润 | 1.13× | 4.12× |
| 过去12个月自由现金流最近4个季度 | $2.0B | $58.0M |
8季度趋势，按日历期对齐
经营现金流PAYXPLXS
| Q4 25 | $444.9M | — | ||
| Q3 25 | $718.4M | — | ||
| Q2 25 | $343.8M | — | ||
| Q1 25 | $716.0M | — | ||
| Q4 24 | $295.0M | — | ||
| Q3 24 | $546.1M | — | ||
| Q2 24 | $221.7M | — | ||
| Q1 24 | $671.7M | — |
自由现金流PAYXPLXS
| Q4 25 | $382.8M | — | ||
| Q3 25 | $662.5M | — | ||
| Q2 25 | $283.3M | — | ||
| Q1 25 | $667.3M | — | ||
| Q4 24 | $248.0M | — | ||
| Q3 24 | $510.5M | — | ||
| Q2 24 | $180.4M | — | ||
| Q1 24 | $631.0M | — |
自由现金流率PAYXPLXS
| Q4 25 | 25.5% | — | ||
| Q3 25 | 44.4% | — | ||
| Q2 25 | 20.5% | — | ||
| Q1 25 | 45.5% | — | ||
| Q4 24 | 19.4% | — | ||
| Q3 24 | 39.9% | — | ||
| Q2 24 | 14.4% | — | ||
| Q1 24 | 45.2% | — |
资本支出强度PAYXPLXS
| Q4 25 | 4.1% | — | ||
| Q3 25 | 3.7% | — | ||
| Q2 25 | 4.4% | — | ||
| Q1 25 | 3.3% | — | ||
| Q4 24 | 3.7% | — | ||
| Q3 24 | 2.8% | — | ||
| Q2 24 | 3.3% | — | ||
| Q1 24 | 2.9% | — |
现金转化率PAYXPLXS
| Q4 25 | 1.13× | — | ||
| Q3 25 | 1.87× | — | ||
| Q2 25 | 1.16× | — | ||
| Q1 25 | 1.38× | — | ||
| Q4 24 | 0.71× | — | ||
| Q3 24 | 1.28× | — | ||
| Q2 24 | 0.58× | — | ||
| Q1 24 | 1.35× | — |
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
PAYX
| Management Solutions | $1.2B | 78% |
| Peo And Insurance Solutions | $336.9M | 22% |
PLXS
| MX | $556.5M | 59% |
| Aerospace Defense | $281.6M | 30% |
| GB | $98.3M | 10% |
| TH | $15.0M | 2% |
