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PEGASYSTEMS INC（PEGA）与VinFast Auto Ltd.（VFS）财务数据对比。点击上方公司名可切换其他公司
VinFast Auto Ltd.的季度营收约是PEGASYSTEMS INC的1.7倍（$718.6M vs $430.0M），PEGASYSTEMS INC净利率更高（7.6% vs -2.8%，领先10.4%）
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。
VinFast Auto Ltd.是越南跨国汽车企业，由越南最大私营综合企业集团之一Vingroup创立。Vingroup由越南知名企业家潘日旺创办，业务覆盖地产、零售、医疗、科技等多个领域，是越南本土头部企业集团。
PEGA vs VFS — 直观对比
营收规模更大
VFS
是对方的1.7倍
$430.0M
净利率更高
PEGA
高出10.4%
-2.8%
损益表 — Q1 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $430.0M | $718.6M |
| 净利润 | $32.8M | $-20.0M |
| 毛利率 | 75.2% | — |
| 营业利润率 | 8.6% | -96.1% |
| 净利率 | 7.6% | -2.8% |
| 营收同比 | -9.6% | — |
| 净利润同比 | — | — |
| 每股收益（稀释后） | $0.18 | — |
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PEGAVFS
| Q1 26 | $430.0M | — | ||
| Q4 25 | $504.3M | — | ||
| Q3 25 | $381.4M | $718.6M | ||
| Q2 25 | $384.5M | $663.0M | ||
| Q1 25 | $475.6M | $656.5M | ||
| Q4 24 | $490.8M | — | ||
| Q3 24 | $325.1M | $511.6M | ||
| Q2 24 | $351.2M | — |
净利润PEGAVFS
| Q1 26 | $32.8M | — | ||
| Q4 25 | $234.6M | — | ||
| Q3 25 | $43.4M | $-20.0M | ||
| Q2 25 | $30.1M | $-51.8M | ||
| Q1 25 | $85.4M | $-26.1M | ||
| Q4 24 | $119.1M | — | ||
| Q3 24 | $-14.4M | $-10.4M | ||
| Q2 24 | $6.6M | — |
毛利率PEGAVFS
| Q1 26 | 75.2% | — | ||
| Q4 25 | 79.5% | — | ||
| Q3 25 | 72.2% | — | ||
| Q2 25 | 71.5% | — | ||
| Q1 25 | 78.5% | — | ||
| Q4 24 | 79.1% | — | ||
| Q3 24 | 70.2% | — | ||
| Q2 24 | 72.4% | — |
营业利润率PEGAVFS
| Q1 26 | 8.6% | — | ||
| Q4 25 | 20.7% | — | ||
| Q3 25 | 3.8% | -96.1% | ||
| Q2 25 | 4.5% | -79.0% | ||
| Q1 25 | 26.7% | -74.0% | ||
| Q4 24 | 29.1% | — | ||
| Q3 24 | -3.6% | -65.9% | ||
| Q2 24 | 3.7% | — |
净利率PEGAVFS
| Q1 26 | 7.6% | — | ||
| Q4 25 | 46.5% | — | ||
| Q3 25 | 11.4% | -2.8% | ||
| Q2 25 | 7.8% | -7.8% | ||
| Q1 25 | 18.0% | -4.0% | ||
| Q4 24 | 24.3% | — | ||
| Q3 24 | -4.4% | -2.0% | ||
| Q2 24 | 1.9% | — |
每股收益（稀释后）PEGAVFS
| Q1 26 | $0.18 | — | ||
| Q4 25 | $0.81 | — | ||
| Q3 25 | $0.24 | — | ||
| Q2 25 | $0.17 | — | ||
| Q1 25 | $0.91 | — | ||
| Q4 24 | $1.35 | — | ||
| Q3 24 | $-0.17 | — | ||
| Q2 24 | $0.07 | — |
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 | $8.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $705.9M | — |
| 总资产 | $1.6B | $183.2M |
| 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PEGAVFS
| Q1 26 | $270.0M | — | ||
| Q4 25 | $425.8M | — | ||
| Q3 25 | $351.4M | $8.8M | ||
| Q2 25 | $411.6M | $650.0M | ||
| Q1 25 | $371.7M | $2.4M | ||
| Q4 24 | $740.0M | — | ||
| Q3 24 | $703.0M | $1.9M | ||
| Q2 24 | $665.1M | — |
股东权益PEGAVFS
| Q1 26 | $705.9M | — | ||
| Q4 25 | $787.4M | — | ||
| Q3 25 | $596.8M | — | ||
| Q2 25 | $624.5M | $-7.2B | ||
| Q1 25 | $611.3M | — | ||
| Q4 24 | $585.5M | — | ||
| Q3 24 | $473.0M | — | ||
| Q2 24 | $435.4M | — |
总资产PEGAVFS
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.6B | — | ||
| Q3 25 | $1.3B | $183.2M | ||
| Q2 25 | $1.3B | $7.2B | ||
| Q1 25 | $1.3B | $158.2M | ||
| Q4 24 | $1.8B | — | ||
| Q3 24 | $1.6B | $151.8M | ||
| Q2 24 | $1.5B | — |
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 | — | — |
| 自由现金流经营现金流 - 资本支出 | $206.5M | — |
| 自由现金流率自由现金流/营收 | 48.0% | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | — | — |
| 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PEGAVFS
| Q1 26 | — | — | ||
| Q4 25 | $158.4M | — | ||
| Q3 25 | $56.3M | — | ||
| Q2 25 | $86.3M | — | ||
| Q1 25 | $204.2M | — | ||
| Q4 24 | $95.2M | — | ||
| Q3 24 | $30.5M | — | ||
| Q2 24 | $40.1M | — |
自由现金流PEGAVFS
| Q1 26 | $206.5M | — | ||
| Q4 25 | $152.4M | — | ||
| Q3 25 | $51.8M | — | ||
| Q2 25 | $84.1M | — | ||
| Q1 25 | $202.3M | — | ||
| Q4 24 | $92.4M | — | ||
| Q3 24 | $27.4M | — | ||
| Q2 24 | $38.8M | — |
自由现金流率PEGAVFS
| Q1 26 | 48.0% | — | ||
| Q4 25 | 30.2% | — | ||
| Q3 25 | 13.6% | — | ||
| Q2 25 | 21.9% | — | ||
| Q1 25 | 42.5% | — | ||
| Q4 24 | 18.8% | — | ||
| Q3 24 | 8.4% | — | ||
| Q2 24 | 11.1% | — |
资本支出强度PEGAVFS
| Q1 26 | — | — | ||
| Q4 25 | 1.2% | — | ||
| Q3 25 | 1.2% | — | ||
| Q2 25 | 0.6% | — | ||
| Q1 25 | 0.4% | — | ||
| Q4 24 | 0.6% | — | ||
| Q3 24 | 0.9% | — | ||
| Q2 24 | 0.4% | — |
现金转化率PEGAVFS
| Q1 26 | — | — | ||
| Q4 25 | 0.68× | — | ||
| Q3 25 | 1.30× | — | ||
| Q2 25 | 2.87× | — | ||
| Q1 25 | 2.39× | — | ||
| Q4 24 | 0.80× | — | ||
| Q3 24 | — | — | ||
| 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% |
VFS
| Sales of vehicles | $662.9M | 92% |
| Sales of spare parts and components | $41.3M | 6% |
| Revenue from leasing activities | $12.3M | 2% |
| Finance income | $2.4M | 0% |
| Rendering of services | $1.2M | 0% |
