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PEGASYSTEMS INC（PEGA）与SCANSOURCE, INC.（SCSC）财务数据对比。点击上方公司名可切换其他公司
SCANSOURCE, INC.的季度营收约是PEGASYSTEMS INC的1.8倍（$766.5M vs $430.0M），PEGASYSTEMS INC净利率更高（7.6% vs 2.2%，领先5.5%），SCANSOURCE, INC.同比增速更快（2.5% vs -9.6%），PEGASYSTEMS INC自由现金流更多（$206.5M vs $28.9M），过去两年PEGASYSTEMS INC的营收复合增速更高（10.7% vs 0.9%）
Pegasystems Inc.（简称Pega）是1983年成立的全球软件企业，总部位于美国马萨诸塞州沃尔瑟姆，1996年于纳斯达克上市，股票代码PEGA。公司主打低代码平台，面向企业客户提供工作流自动化、生成式AI驱动决策等相关解决方案。
ScanSource是全球领先的专业技术分销商，主营销售点系统、条码扫描设备、网络安全产品、云服务及通信解决方案，面向北美、拉美、欧洲的增值经销商、服务提供商及企业客户，覆盖零售、医疗、工业、公共部门等领域。
PEGA vs SCSC — 直观对比
营收规模更大
SCSC
是对方的1.8倍
$430.0M
营收增速更快
SCSC
高出12.1%
-9.6%
净利率更高
PEGA
高出5.5%
2.2%
自由现金流更多
PEGA
多$177.7M
$28.9M
两年增速更快
PEGA
近两年复合增速
0.9%
损益表 — Q1 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $430.0M | $766.5M |
| 净利润 | $32.8M | $16.5M |
| 毛利率 | 75.2% | 13.4% |
| 营业利润率 | 8.6% | 2.3% |
| 净利率 | 7.6% | 2.2% |
| 营收同比 | -9.6% | 2.5% |
| 净利润同比 | -61.6% | -3.3% |
| 每股收益（稀释后） | $0.18 | $0.75 |
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PEGASCSC
| Q1 26 | $430.0M | — | ||
| Q4 25 | $504.3M | $766.5M | ||
| Q3 25 | $381.4M | $739.6M | ||
| Q2 25 | $384.5M | $812.9M | ||
| Q1 25 | $475.6M | $704.8M | ||
| Q4 24 | $490.8M | $747.5M | ||
| Q3 24 | $325.1M | $775.6M | ||
| Q2 24 | $351.2M | $746.1M |
净利润PEGASCSC
| Q1 26 | $32.8M | — | ||
| Q4 25 | $234.6M | $16.5M | ||
| Q3 25 | $43.4M | $19.9M | ||
| Q2 25 | $30.1M | $20.1M | ||
| Q1 25 | $85.4M | $17.4M | ||
| Q4 24 | $119.1M | $17.1M | ||
| Q3 24 | $-14.4M | $17.0M | ||
| Q2 24 | $6.6M | $16.1M |
毛利率PEGASCSC
| Q1 26 | 75.2% | — | ||
| Q4 25 | 79.5% | 13.4% | ||
| Q3 25 | 72.2% | 14.5% | ||
| Q2 25 | 71.5% | 12.9% | ||
| Q1 25 | 78.5% | 14.2% | ||
| Q4 24 | 79.1% | 13.6% | ||
| Q3 24 | 70.2% | 13.1% | ||
| Q2 24 | 72.4% | 13.0% |
营业利润率PEGASCSC
| Q1 26 | 8.6% | — | ||
| Q4 25 | 20.7% | 2.3% | ||
| Q3 25 | 3.8% | 3.5% | ||
| Q2 25 | 4.5% | 3.3% | ||
| Q1 25 | 26.7% | 3.2% | ||
| Q4 24 | 29.1% | 2.5% | ||
| Q3 24 | -3.6% | 2.3% | ||
| Q2 24 | 3.7% | 2.9% |
净利率PEGASCSC
| Q1 26 | 7.6% | — | ||
| Q4 25 | 46.5% | 2.2% | ||
| Q3 25 | 11.4% | 2.7% | ||
| Q2 25 | 7.8% | 2.5% | ||
| Q1 25 | 18.0% | 2.5% | ||
| Q4 24 | 24.3% | 2.3% | ||
| Q3 24 | -4.4% | 2.2% | ||
| Q2 24 | 1.9% | 2.2% |
每股收益（稀释后）PEGASCSC
| Q1 26 | $0.18 | — | ||
| Q4 25 | $0.81 | $0.75 | ||
| Q3 25 | $0.24 | $0.89 | ||
| Q2 25 | $0.17 | $0.87 | ||
| Q1 25 | $0.91 | $0.74 | ||
| Q4 24 | $1.35 | $0.70 | ||
| Q3 24 | $-0.17 | $0.69 | ||
| Q2 24 | $0.07 | $0.66 |
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 | $270.0M | $83.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $705.9M | $910.9M |
| 总资产 | $1.6B | $1.7B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资PEGASCSC
| Q1 26 | $270.0M | — | ||
| Q4 25 | $425.8M | $83.5M | ||
| Q3 25 | $351.4M | $124.9M | ||
| Q2 25 | $411.6M | $126.2M | ||
| Q1 25 | $371.7M | $146.3M | ||
| Q4 24 | $740.0M | $110.5M | ||
| Q3 24 | $703.0M | $145.0M | ||
| Q2 24 | $665.1M | $185.5M |
股东权益PEGASCSC
| Q1 26 | $705.9M | — | ||
| Q4 25 | $787.4M | $910.9M | ||
| Q3 25 | $596.8M | $914.0M | ||
| Q2 25 | $624.5M | $906.4M | ||
| Q1 25 | $611.3M | $901.7M | ||
| Q4 24 | $585.5M | $900.7M | ||
| Q3 24 | $473.0M | $920.9M | ||
| Q2 24 | $435.4M | $924.3M |
总资产PEGASCSC
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.6B | $1.7B | ||
| Q3 25 | $1.3B | $1.7B | ||
| Q2 25 | $1.3B | $1.8B | ||
| Q1 25 | $1.3B | $1.7B | ||
| Q4 24 | $1.8B | $1.7B | ||
| Q3 24 | $1.6B | $1.8B | ||
| Q2 24 | $1.5B | $1.8B |
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 | — | $30.8M |
| 自由现金流经营现金流 - 资本支出 | $206.5M | $28.9M |
| 自由现金流率自由现金流/营收 | 48.0% | 3.8% |
| 资本支出强度资本支出/营收 | — | 0.3% |
| 现金转化率经营现金流/净利润 | — | 1.87× |
| 过去12个月自由现金流最近4个季度 | $494.9M | — |
8季度趋势，按日历期对齐
经营现金流PEGASCSC
| Q1 26 | — | — | ||
| Q4 25 | $158.4M | $30.8M | ||
| Q3 25 | $56.3M | $23.2M | ||
| Q2 25 | $86.3M | — | ||
| Q1 25 | $204.2M | $66.1M | ||
| Q4 24 | $95.2M | $-6.2M | ||
| Q3 24 | $30.5M | $44.8M | ||
| Q2 24 | $40.1M | — |
自由现金流PEGASCSC
| Q1 26 | $206.5M | — | ||
| Q4 25 | $152.4M | $28.9M | ||
| Q3 25 | $51.8M | $20.8M | ||
| Q2 25 | $84.1M | — | ||
| Q1 25 | $202.3M | $64.6M | ||
| Q4 24 | $92.4M | $-8.2M | ||
| Q3 24 | $27.4M | $42.5M | ||
| Q2 24 | $38.8M | — |
自由现金流率PEGASCSC
| Q1 26 | 48.0% | — | ||
| Q4 25 | 30.2% | 3.8% | ||
| Q3 25 | 13.6% | 2.8% | ||
| Q2 25 | 21.9% | — | ||
| Q1 25 | 42.5% | 9.2% | ||
| Q4 24 | 18.8% | -1.1% | ||
| Q3 24 | 8.4% | 5.5% | ||
| Q2 24 | 11.1% | — |
资本支出强度PEGASCSC
| Q1 26 | — | — | ||
| Q4 25 | 1.2% | 0.3% | ||
| Q3 25 | 1.2% | 0.3% | ||
| Q2 25 | 0.6% | 0.3% | ||
| Q1 25 | 0.4% | 0.2% | ||
| Q4 24 | 0.6% | 0.3% | ||
| Q3 24 | 0.9% | 0.3% | ||
| Q2 24 | 0.4% | 0.2% |
现金转化率PEGASCSC
| Q1 26 | — | — | ||
| Q4 25 | 0.68× | 1.87× | ||
| Q3 25 | 1.30× | 1.17× | ||
| Q2 25 | 2.87× | — | ||
| Q1 25 | 2.39× | 3.79× | ||
| Q4 24 | 0.80× | -0.36× | ||
| Q3 24 | — | 2.64× | ||
| Q2 24 | 6.06× | — |
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
PEGA
| Pega Cloud | $205.0M | 48% |
| Subscription license | $94.9M | 22% |
| Maintenance | $75.3M | 18% |
| Consulting | $54.8M | 13% |
SCSC
| Products And Services | $723.4M | 94% |
| Intelisys Advisory | $25.0M | 3% |
| Recurring Revenue | $18.2M | 2% |
