vs
Paychex（PAYX）与SONOCO PRODUCTS CO（SON）财务数据对比。点击上方公司名可切换其他公司
SONOCO PRODUCTS CO的季度营收约是Paychex的1.1倍（$1.7B vs $1.5B），Paychex净利率更高（26.3% vs 4.1%，领先22.2%），Paychex同比增速更快（17.4% vs -1.9%），Paychex自由现金流更多（$382.8M vs $-428.3B），过去两年Paychex的营收复合增速更高（3.8% vs 1.2%）
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。
索诺科产品公司是美国多元化包装服务商，主营消费包装、工业产品、防护包装及包装供应链服务，是全球最大的复合罐、纸管和纸芯生产商。公司成立于1889年，年净销售额约73亿美元，在33个国家设有超335个运营点，员工1.99万名，业务覆盖超85个国家，总部位于南卡罗来纳州哈茨维尔。
PAYX vs SON — 直观对比
营收规模更大
SON
是对方的1.1倍
$1.5B
营收增速更快
PAYX
高出19.3%
-1.9%
净利率更高
PAYX
高出22.2%
4.1%
自由现金流更多
PAYX
多$428.7B
$-428.3B
两年增速更快
PAYX
近两年复合增速
1.2%
损益表 — Q2 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.5B | $1.7B |
| 净利润 | $395.4M | $68.0M |
| 毛利率 | 72.6% | 20.6% |
| 营业利润率 | 38.0% | 7.6% |
| 净利率 | 26.3% | 4.1% |
| 营收同比 | 17.4% | -1.9% |
| 净利润同比 | -4.4% | 25.9% |
| 每股收益（稀释后） | $1.10 | $0.68 |
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PAYXSON
| Q1 26 | — | $1.7B | ||
| Q4 25 | $1.5B | $1.8B | ||
| Q3 25 | $1.5B | $2.1B | ||
| Q2 25 | $1.4B | $1.9B | ||
| Q1 25 | $1.5B | $1.7B | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.3B | $1.7B | ||
| Q2 24 | $1.3B | $1.6B |
净利润PAYXSON
| Q1 26 | — | $68.0M | ||
| Q4 25 | $395.4M | $332.2M | ||
| Q3 25 | $383.8M | $122.9M | ||
| Q2 25 | $297.2M | $493.4M | ||
| Q1 25 | $519.3M | $54.4M | ||
| Q4 24 | $413.4M | — | ||
| Q3 24 | $427.4M | $50.9M | ||
| Q2 24 | $379.9M | $90.8M |
毛利率PAYXSON
| Q1 26 | — | 20.6% | ||
| Q4 25 | 72.6% | 19.6% | ||
| Q3 25 | 72.3% | 21.9% | ||
| Q2 25 | 71.5% | 21.3% | ||
| Q1 25 | 73.6% | 20.7% | ||
| Q4 24 | 70.4% | — | ||
| Q3 24 | 70.3% | 21.4% | ||
| Q2 24 | 70.1% | 22.0% |
营业利润率PAYXSON
| Q1 26 | — | 7.6% | ||
| Q4 25 | 38.0% | 29.4% | ||
| Q3 25 | 36.3% | 9.1% | ||
| Q2 25 | 31.2% | 9.2% | ||
| Q1 25 | 47.2% | 7.4% | ||
| Q4 24 | 42.0% | — | ||
| Q3 24 | 42.7% | 7.6% | ||
| Q2 24 | 38.3% | 8.6% |
净利率PAYXSON
| Q1 26 | — | 4.1% | ||
| Q4 25 | 26.3% | 18.8% | ||
| Q3 25 | 25.7% | 5.8% | ||
| Q2 25 | 21.5% | 25.8% | ||
| Q1 25 | 35.4% | 3.2% | ||
| Q4 24 | 32.3% | — | ||
| Q3 24 | 33.4% | 3.0% | ||
| Q2 24 | 30.2% | 5.6% |
每股收益（稀释后）PAYXSON
| Q1 26 | — | $0.68 | ||
| Q4 25 | $1.10 | $3.33 | ||
| Q3 25 | $1.06 | $1.23 | ||
| Q2 25 | $0.83 | $4.96 | ||
| Q1 25 | $1.43 | $0.55 | ||
| Q4 24 | $1.14 | — | ||
| Q3 24 | $1.18 | $0.51 | ||
| Q2 24 | $1.05 | $0.92 |
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 | $224.5M |
| 总债务越低越好 | $5.0B | $3.5B |
| 股东权益账面价值 | $3.9B | $3.6B |
| 总资产 | $16.5B | $11.1B |
| 负债/权益比越低杠杆越低 | 1.28× | 0.97× |
8季度趋势，按日历期对齐
现金及短期投资PAYXSON
| Q1 26 | — | $224.5M | ||
| Q4 25 | $1.5B | $378.4M | ||
| Q3 25 | $1.7B | $244.9M | ||
| Q2 25 | $1.7B | $329.8M | ||
| Q1 25 | $1.6B | $181.8M | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.5B | $1.9B | ||
| Q2 24 | $1.5B | $140.2M |
总债务PAYXSON
| Q1 26 | — | $3.5B | ||
| Q4 25 | $5.0B | $3.8B | ||
| Q3 25 | $5.0B | $3.8B | ||
| Q2 25 | $4.9B | $5.0B | ||
| Q1 25 | — | $5.0B | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $4.3B | ||
| Q2 24 | $798.6M | $2.5B |
股东权益PAYXSON
| Q1 26 | — | $3.6B | ||
| Q4 25 | $3.9B | $3.6B | ||
| Q3 25 | $4.0B | $3.3B | ||
| Q2 25 | $4.1B | $3.2B | ||
| Q1 25 | $4.1B | $2.4B | ||
| Q4 24 | $3.9B | — | ||
| Q3 24 | $3.9B | $2.5B | ||
| Q2 24 | $3.8B | $2.4B |
总资产PAYXSON
| Q1 26 | — | $11.1B | ||
| Q4 25 | $16.5B | $11.2B | ||
| Q3 25 | $16.7B | $11.7B | ||
| Q2 25 | $16.6B | $12.0B | ||
| Q1 25 | $11.2B | $12.7B | ||
| Q4 24 | $10.6B | — | ||
| Q3 24 | $10.5B | $9.0B | ||
| Q2 24 | $10.4B | $7.2B |
负债/权益比PAYXSON
| Q1 26 | — | 0.97× | ||
| Q4 25 | 1.28× | 1.05× | ||
| Q3 25 | 1.25× | 1.15× | ||
| Q2 25 | 1.20× | 1.54× | ||
| Q1 25 | — | 2.03× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.74× | ||
| Q2 24 | 0.21× | 1.04× |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $382.8M | $-428.3B |
| 自由现金流率自由现金流/营收 | 25.5% | -25547.4% |
| 资本支出强度资本支出/营收 | 4.1% | 3600.5% |
| 现金转化率经营现金流/净利润 | 1.13× | — |
| 过去12个月自由现金流最近4个季度 | $2.0B | $-427.6B |
8季度趋势，按日历期对齐
经营现金流PAYXSON
| Q1 26 | — | — | ||
| Q4 25 | $444.9M | $412.9M | ||
| Q3 25 | $718.4M | $291.5M | ||
| Q2 25 | $343.8M | $193.4M | ||
| Q1 25 | $716.0M | $-208.1M | ||
| Q4 24 | $295.0M | — | ||
| Q3 24 | $546.1M | $162.1M | ||
| Q2 24 | $221.7M | $109.3M |
自由现金流PAYXSON
| Q1 26 | — | $-428.3B | ||
| Q4 25 | $382.8M | $322.3M | ||
| Q3 25 | $662.5M | $225.6M | ||
| Q2 25 | $283.3M | $98.6M | ||
| Q1 25 | $667.3M | $-300.8M | ||
| Q4 24 | $248.0M | — | ||
| Q3 24 | $510.5M | $70.5M | ||
| Q2 24 | $180.4M | $16.0M |
自由现金流率PAYXSON
| Q1 26 | — | -25547.4% | ||
| Q4 25 | 25.5% | 18.2% | ||
| Q3 25 | 44.4% | 10.6% | ||
| Q2 25 | 20.5% | 5.2% | ||
| Q1 25 | 45.5% | -17.6% | ||
| Q4 24 | 19.4% | — | ||
| Q3 24 | 39.9% | 4.2% | ||
| Q2 24 | 14.4% | 1.0% |
资本支出强度PAYXSON
| Q1 26 | — | 3600.5% | ||
| Q4 25 | 4.1% | 5.1% | ||
| Q3 25 | 3.7% | 3.1% | ||
| Q2 25 | 4.4% | 5.0% | ||
| Q1 25 | 3.3% | 5.4% | ||
| Q4 24 | 3.7% | — | ||
| Q3 24 | 2.8% | 5.5% | ||
| Q2 24 | 3.3% | 5.7% |
现金转化率PAYXSON
| Q1 26 | — | — | ||
| Q4 25 | 1.13× | 1.24× | ||
| Q3 25 | 1.87× | 2.37× | ||
| Q2 25 | 1.16× | 0.39× | ||
| Q1 25 | 1.38× | -3.82× | ||
| Q4 24 | 0.71× | — | ||
| Q3 24 | 1.28× | 3.18× | ||
| Q2 24 | 0.58× | 1.20× |
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% |
SON
| Consumer Packaging | $1.1B | 65% |
| Industrial Paper Packaging | $587.5M | 35% |
| All Other | $55.1M | 3% |
