vs
PEGASYSTEMS INC（PEGA）与沃茨水工业（WTS）财务数据对比。点击上方公司名可切换其他公司
沃茨水工业的季度营收约是PEGASYSTEMS INC的1.5倍（$625.1M vs $430.0M），沃茨水工业净利率更高（13.4% vs 7.6%，领先5.8%），沃茨水工业同比增速更快（15.7% vs -9.6%），PEGASYSTEMS INC自由现金流更多（$206.5M vs $140.3M），过去两年PEGASYSTEMS INC的营收复合增速更高（10.7% vs 4.6%）
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。
沃茨水工业旗下AERCO是暖通管道领域的商用冷凝锅炉、高效热水设备及能量回收系统供应商，服务覆盖教育、住宿、政府、办公楼、医疗、工业、多户型住宅等多元市场，1949年推出行业首款半即热式无罐蒸汽热水器，1988年推出首款冷凝全调制设备。
PEGA vs WTS — 直观对比
营收规模更大
WTS
是对方的1.5倍
$430.0M
营收增速更快
WTS
高出25.3%
-9.6%
净利率更高
WTS
高出5.8%
7.6%
自由现金流更多
PEGA
多$66.2M
$140.3M
两年增速更快
PEGA
近两年复合增速
4.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $430.0M | $625.1M |
| 净利润 | $32.8M | $83.7M |
| 毛利率 | 75.2% | 49.5% |
| 营业利润率 | 8.6% | 18.2% |
| 净利率 | 7.6% | 13.4% |
| 营收同比 | -9.6% | 15.7% |
| 净利润同比 | -61.6% | 24.0% |
| 每股收益（稀释后） | $0.18 | $2.50 |
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PEGAWTS
| Q1 26 | $430.0M | — | ||
| Q4 25 | $504.3M | $625.1M | ||
| Q3 25 | $381.4M | $611.7M | ||
| Q2 25 | $384.5M | $643.7M | ||
| Q1 25 | $475.6M | $558.0M | ||
| Q4 24 | $490.8M | $540.4M | ||
| Q3 24 | $325.1M | $543.6M | ||
| Q2 24 | $351.2M | $597.3M |
净利润PEGAWTS
| Q1 26 | $32.8M | — | ||
| Q4 25 | $234.6M | $83.7M | ||
| Q3 25 | $43.4M | $82.2M | ||
| Q2 25 | $30.1M | $100.9M | ||
| Q1 25 | $85.4M | $74.0M | ||
| Q4 24 | $119.1M | $67.5M | ||
| Q3 24 | $-14.4M | $69.1M | ||
| Q2 24 | $6.6M | $82.0M |
毛利率PEGAWTS
| Q1 26 | 75.2% | — | ||
| Q4 25 | 79.5% | 49.5% | ||
| Q3 25 | 72.2% | 48.8% | ||
| Q2 25 | 71.5% | 50.6% | ||
| Q1 25 | 78.5% | 48.8% | ||
| Q4 24 | 79.1% | 46.7% | ||
| Q3 24 | 70.2% | 47.3% | ||
| Q2 24 | 72.4% | 47.7% |
营业利润率PEGAWTS
| Q1 26 | 8.6% | — | ||
| Q4 25 | 20.7% | 18.2% | ||
| Q3 25 | 3.8% | 18.2% | ||
| Q2 25 | 4.5% | 21.0% | ||
| Q1 25 | 26.7% | 15.7% | ||
| Q4 24 | 29.1% | 16.5% | ||
| Q3 24 | -3.6% | 17.1% | ||
| Q2 24 | 3.7% | 18.7% |
净利率PEGAWTS
| Q1 26 | 7.6% | — | ||
| Q4 25 | 46.5% | 13.4% | ||
| Q3 25 | 11.4% | 13.4% | ||
| Q2 25 | 7.8% | 15.7% | ||
| Q1 25 | 18.0% | 13.3% | ||
| Q4 24 | 24.3% | 12.5% | ||
| Q3 24 | -4.4% | 12.7% | ||
| Q2 24 | 1.9% | 13.7% |
每股收益（稀释后）PEGAWTS
| Q1 26 | $0.18 | — | ||
| Q4 25 | $0.81 | $2.50 | ||
| Q3 25 | $0.24 | $2.45 | ||
| Q2 25 | $0.17 | $3.01 | ||
| Q1 25 | $0.91 | $2.21 | ||
| Q4 24 | $1.35 | $2.02 | ||
| Q3 24 | $-0.17 | $2.06 | ||
| Q2 24 | $0.07 | $2.44 |
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 | $405.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $705.9M | $2.0B |
| 总资产 | $1.6B | $2.9B |
| 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PEGAWTS
| Q1 26 | $270.0M | — | ||
| Q4 25 | $425.8M | $405.5M | ||
| Q3 25 | $351.4M | $457.7M | ||
| Q2 25 | $411.6M | $369.3M | ||
| Q1 25 | $371.7M | $336.8M | ||
| Q4 24 | $740.0M | $386.9M | ||
| Q3 24 | $703.0M | $303.9M | ||
| Q2 24 | $665.1M | $279.4M |
股东权益PEGAWTS
| Q1 26 | $705.9M | — | ||
| Q4 25 | $787.4M | $2.0B | ||
| Q3 25 | $596.8M | $2.0B | ||
| Q2 25 | $624.5M | $1.9B | ||
| Q1 25 | $611.3M | $1.8B | ||
| Q4 24 | $585.5M | $1.7B | ||
| Q3 24 | $473.0M | $1.7B | ||
| Q2 24 | $435.4M | $1.6B |
总资产PEGAWTS
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.6B | $2.9B | ||
| Q3 25 | $1.3B | $2.7B | ||
| Q2 25 | $1.3B | $2.6B | ||
| Q1 25 | $1.3B | $2.5B | ||
| Q4 24 | $1.8B | $2.4B | ||
| Q3 24 | $1.6B | $2.4B | ||
| Q2 24 | $1.5B | $2.4B |
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 | — | $154.7M |
| 自由现金流经营现金流 - 资本支出 | $206.5M | $140.3M |
| 自由现金流率自由现金流/营收 | 48.0% | 22.4% |
| 资本支出强度资本支出/营收 | — | 2.3% |
| 现金转化率经营现金流/净利润 | — | 1.85× |
| 过去12个月自由现金流最近4个季度 | $494.9M | $356.3M |
8季度趋势，按日历期对齐
经营现金流PEGAWTS
| Q1 26 | — | — | ||
| Q4 25 | $158.4M | $154.7M | ||
| Q3 25 | $56.3M | $122.4M | ||
| Q2 25 | $86.3M | $69.7M | ||
| Q1 25 | $204.2M | $55.2M | ||
| Q4 24 | $95.2M | $139.5M | ||
| Q3 24 | $30.5M | $90.7M | ||
| Q2 24 | $40.1M | $85.3M |
自由现金流PEGAWTS
| Q1 26 | $206.5M | — | ||
| Q4 25 | $152.4M | $140.3M | ||
| Q3 25 | $51.8M | $110.9M | ||
| Q2 25 | $84.1M | $59.5M | ||
| Q1 25 | $202.3M | $45.6M | ||
| Q4 24 | $92.4M | $127.5M | ||
| Q3 24 | $27.4M | $84.3M | ||
| Q2 24 | $38.8M | $78.5M |
自由现金流率PEGAWTS
| Q1 26 | 48.0% | — | ||
| Q4 25 | 30.2% | 22.4% | ||
| Q3 25 | 13.6% | 18.1% | ||
| Q2 25 | 21.9% | 9.2% | ||
| Q1 25 | 42.5% | 8.2% | ||
| Q4 24 | 18.8% | 23.6% | ||
| Q3 24 | 8.4% | 15.5% | ||
| Q2 24 | 11.1% | 13.1% |
资本支出强度PEGAWTS
| Q1 26 | — | — | ||
| Q4 25 | 1.2% | 2.3% | ||
| Q3 25 | 1.2% | 1.9% | ||
| Q2 25 | 0.6% | 1.6% | ||
| Q1 25 | 0.4% | 1.7% | ||
| Q4 24 | 0.6% | 2.2% | ||
| Q3 24 | 0.9% | 1.2% | ||
| Q2 24 | 0.4% | 1.1% |
现金转化率PEGAWTS
| Q1 26 | — | — | ||
| Q4 25 | 0.68× | 1.85× | ||
| Q3 25 | 1.30× | 1.49× | ||
| Q2 25 | 2.87× | 0.69× | ||
| Q1 25 | 2.39× | 0.75× | ||
| Q4 24 | 0.80× | 2.07× | ||
| Q3 24 | — | 1.31× | ||
| Q2 24 | 6.06× | 1.04× |
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% |
WTS
暂无分部数据
