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PROGRESS SOFTWARE CORP（PRGS）与SUBURBAN PROPANE PARTNERS LP（SPH）财务数据对比。点击上方公司名可切换其他公司
SUBURBAN PROPANE PARTNERS LP的季度营收约是PROGRESS SOFTWARE CORP的1.5倍（$370.4M vs $252.7M），SUBURBAN PROPANE PARTNERS LP净利率更高（12.4% vs 10.2%，领先2.2%），PROGRESS SOFTWARE CORP同比增速更快（17.5% vs -0.8%），PROGRESS SOFTWARE CORP自由现金流更多（$59.9M vs $-67.5M），过去两年PROGRESS SOFTWARE CORP的营收复合增速更高（17.0% vs -13.8%）
Progress Software是全球领先的企业级软件服务商，主营应用开发平台、数据连接工具、数字体验解决方案等产品，服务覆盖金融、医疗、制造、零售等多行业的全球企业客户，助力客户搭建高性能可扩展的业务应用，提升运营效率。
Suburban Propane Partners LP是美国领先的丙烷、天然气、取暖油及相关能源产品分销商，服务覆盖住宅、商业、工业、农业等各类客户，同时提供暖通空调系统的安装、维护与维修服务，业务范围遍布全美。
PRGS vs SPH — 直观对比
营收规模更大
SPH
是对方的1.5倍
$252.7M
营收增速更快
PRGS
高出18.3%
-0.8%
净利率更高
SPH
高出2.2%
10.2%
自由现金流更多
PRGS
多$127.4M
$-67.5M
两年增速更快
PRGS
近两年复合增速
-13.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $252.7M | $370.4M |
| 净利润 | $25.7M | $45.8M |
| 毛利率 | 81.6% | 64.7% |
| 营业利润率 | 15.2% | 18.3% |
| 净利率 | 10.2% | 12.4% |
| 营收同比 | 17.5% | -0.8% |
| 净利润同比 | 2144.6% | 135.7% |
| 每股收益（稀释后） | $0.59 | $0.69 |
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PRGSSPH
| Q4 25 | $252.7M | $370.4M | ||
| Q3 25 | $249.8M | $211.4M | ||
| Q2 25 | $237.4M | $260.1M | ||
| Q1 25 | $238.0M | $587.7M | ||
| Q4 24 | $215.0M | $373.3M | ||
| Q3 24 | $178.7M | $208.6M | ||
| Q2 24 | $175.1M | $254.6M | ||
| Q1 24 | $184.7M | $498.1M |
净利润PRGSSPH
| Q4 25 | $25.7M | $45.8M | ||
| Q3 25 | $19.4M | $-35.1M | ||
| Q2 25 | $17.0M | $-14.8M | ||
| Q1 25 | $10.9M | $137.1M | ||
| Q4 24 | $1.1M | $19.4M | ||
| Q3 24 | $28.5M | $-44.6M | ||
| Q2 24 | $16.2M | $-17.2M | ||
| Q1 24 | $22.6M | $111.5M |
毛利率PRGSSPH
| Q4 25 | 81.6% | 64.7% | ||
| Q3 25 | 81.0% | 64.7% | ||
| Q2 25 | 80.1% | 61.7% | ||
| Q1 25 | 80.6% | 58.8% | ||
| Q4 24 | 83.0% | 60.6% | ||
| Q3 24 | 83.7% | 59.4% | ||
| Q2 24 | 81.7% | 62.9% | ||
| Q1 24 | 82.2% | 61.8% |
营业利润率PRGSSPH
| Q4 25 | 15.2% | 18.3% | ||
| Q3 25 | 17.6% | -7.9% | ||
| Q2 25 | 16.3% | 2.1% | ||
| Q1 25 | 13.6% | 27.0% | ||
| Q4 24 | 10.0% | 15.8% | ||
| Q3 24 | 22.6% | -10.8% | ||
| Q2 24 | 15.5% | 3.2% | ||
| Q1 24 | 19.0% | 27.5% |
净利率PRGSSPH
| Q4 25 | 10.2% | 12.4% | ||
| Q3 25 | 7.8% | -16.6% | ||
| Q2 25 | 7.2% | -5.7% | ||
| Q1 25 | 4.6% | 23.3% | ||
| Q4 24 | 0.5% | 5.2% | ||
| Q3 24 | 15.9% | -21.4% | ||
| Q2 24 | 9.2% | -6.8% | ||
| Q1 24 | 12.3% | 22.4% |
每股收益（稀释后）PRGSSPH
| Q4 25 | $0.59 | $0.69 | ||
| Q3 25 | $0.44 | $-0.55 | ||
| Q2 25 | $0.39 | $-0.23 | ||
| Q1 25 | $0.24 | $2.10 | ||
| Q4 24 | $0.01 | $0.30 | ||
| Q3 24 | $0.65 | $-0.69 | ||
| Q2 24 | $0.37 | $-0.27 | ||
| Q1 24 | $0.51 | $1.72 |
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 | $94.8M | $1.3M |
| 总债务越低越好 | $1.4B | $1.3B |
| 股东权益账面价值 | $478.3M | — |
| 总资产 | $2.5B | $2.4B |
| 负债/权益比越低杠杆越低 | 2.93× | — |
8季度趋势，按日历期对齐
现金及短期投资PRGSSPH
| Q4 25 | $94.8M | $1.3M | ||
| Q3 25 | $99.0M | $405.0K | ||
| Q2 25 | $102.0M | $1.3M | ||
| Q1 25 | $124.2M | $3.9M | ||
| Q4 24 | $118.1M | $4.4M | ||
| Q3 24 | $232.7M | $3.2M | ||
| Q2 24 | $190.4M | $4.9M | ||
| Q1 24 | $133.2M | $4.4M |
总债务PRGSSPH
| Q4 25 | $1.4B | $1.3B | ||
| Q3 25 | $1.4B | $1.2B | ||
| Q2 25 | $1.5B | $1.2B | ||
| Q1 25 | $1.5B | $1.3B | ||
| Q4 24 | $1.5B | $1.3B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $1.2B |
股东权益PRGSSPH
| Q4 25 | $478.3M | — | ||
| Q3 25 | $477.7M | — | ||
| Q2 25 | $452.7M | — | ||
| Q1 25 | $431.8M | — | ||
| Q4 24 | $438.8M | — | ||
| Q3 24 | $425.6M | — | ||
| Q2 24 | $401.7M | — | ||
| Q1 24 | $461.7M | — |
总资产PRGSSPH
| Q4 25 | $2.5B | $2.4B | ||
| Q3 25 | $2.4B | $2.3B | ||
| Q2 25 | $2.4B | $2.3B | ||
| Q1 25 | $2.5B | $2.4B | ||
| Q4 24 | $2.5B | $2.4B | ||
| Q3 24 | $1.6B | $2.3B | ||
| Q2 24 | $1.6B | $2.3B | ||
| Q1 24 | $1.5B | $2.3B |
负债/权益比PRGSSPH
| Q4 25 | 2.93× | — | ||
| Q3 25 | 2.97× | — | ||
| Q2 25 | 3.22× | — | ||
| Q1 25 | 3.50× | — | ||
| Q4 24 | 3.48× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| 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 | $62.8M | $-47.7M |
| 自由现金流经营现金流 - 资本支出 | $59.9M | $-67.5M |
| 自由现金流率自由现金流/营收 | 23.7% | -18.2% |
| 资本支出强度资本支出/营收 | 1.1% | 5.3% |
| 现金转化率经营现金流/净利润 | 2.44× | -1.04× |
| 过去12个月自由现金流最近4个季度 | $229.5M | $61.9M |
8季度趋势，按日历期对齐
经营现金流PRGSSPH
| Q4 25 | $62.8M | $-47.7M | ||
| Q3 25 | $73.4M | $41.8M | ||
| Q2 25 | $30.0M | $95.5M | ||
| Q1 25 | $68.9M | $40.1M | ||
| Q4 24 | $19.7M | $8.8M | ||
| Q3 24 | $57.7M | $36.8M | ||
| Q2 24 | $63.7M | $61.4M | ||
| Q1 24 | $70.5M | $75.1M |
自由现金流PRGSSPH
| Q4 25 | $59.9M | $-67.5M | ||
| Q3 25 | $72.4M | $27.7M | ||
| Q2 25 | $29.5M | $80.9M | ||
| Q1 25 | $67.7M | $20.8M | ||
| Q4 24 | $16.8M | $-15.1M | ||
| Q3 24 | $56.6M | $17.7M | ||
| Q2 24 | $62.7M | $46.8M | ||
| Q1 24 | $70.2M | $60.6M |
自由现金流率PRGSSPH
| Q4 25 | 23.7% | -18.2% | ||
| Q3 25 | 29.0% | 13.1% | ||
| Q2 25 | 12.4% | 31.1% | ||
| Q1 25 | 28.4% | 3.5% | ||
| Q4 24 | 7.8% | -4.0% | ||
| Q3 24 | 31.7% | 8.5% | ||
| Q2 24 | 35.8% | 18.4% | ||
| Q1 24 | 38.0% | 12.2% |
资本支出强度PRGSSPH
| Q4 25 | 1.1% | 5.3% | ||
| Q3 25 | 0.4% | 6.7% | ||
| Q2 25 | 0.2% | 5.6% | ||
| Q1 25 | 0.5% | 3.3% | ||
| Q4 24 | 1.3% | 6.4% | ||
| Q3 24 | 0.6% | 9.1% | ||
| Q2 24 | 0.5% | 5.8% | ||
| Q1 24 | 0.2% | 2.9% |
现金转化率PRGSSPH
| Q4 25 | 2.44× | -1.04× | ||
| Q3 25 | 3.78× | — | ||
| Q2 25 | 1.76× | — | ||
| Q1 25 | 6.30× | 0.29× | ||
| Q4 24 | 17.13× | 0.45× | ||
| Q3 24 | 2.03× | — | ||
| Q2 24 | 3.93× | — | ||
| Q1 24 | 3.11× | 0.67× |
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
PRGS
| Maintenanceand Services | $187.5M | 74% |
| Share File Acquisition | $67.5M | 27% |
SPH
| Propane | $326.4M | 88% |
| Other Sales Revenue Net | $19.9M | 5% |
| Fuel Oil And Refined Fuels | $18.2M | 5% |
| Natural Gas And Electricity | $5.9M | 2% |
| Wholesale | $4.1M | 1% |
