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SCANSOURCE, INC.（SCSC）与希悦尔（SEE）财务数据对比。点击上方公司名可切换其他公司
希悦尔的季度营收约是SCANSOURCE, INC.的1.8倍（$1.4B vs $766.5M），希悦尔净利率更高（3.1% vs 2.2%，领先1.0%），希悦尔同比增速更快（2.6% vs 2.5%），希悦尔自由现金流更多（$257.7M vs $28.9M），过去两年希悦尔的营收复合增速更高（2.7% vs 0.9%）
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。
希悦尔是全球领先的包装与防护解决方案供应商，核心产品包括缓冲防护材料、食品保鲜包装、可持续减废包装系统，服务覆盖电商、零售、食品饮料、工业制造等多个海内外领域。
SCSC vs SEE — 直观对比
营收规模更大
SEE
是对方的1.8倍
$766.5M
营收增速更快
SEE
高出0.1%
2.5%
净利率更高
SEE
高出1.0%
2.2%
自由现金流更多
SEE
多$228.8M
$28.9M
两年增速更快
SEE
近两年复合增速
0.9%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $766.5M | $1.4B |
| 净利润 | $16.5M | $43.8M |
| 毛利率 | 13.4% | 28.6% |
| 营业利润率 | 2.3% | 11.4% |
| 净利率 | 2.2% | 3.1% |
| 营收同比 | 2.5% | 2.6% |
| 净利润同比 | -3.3% | 700.0% |
| 每股收益（稀释后） | $0.75 | $0.30 |
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SCSCSEE
| Q4 25 | $766.5M | $1.4B | ||
| Q3 25 | $739.6M | $1.3B | ||
| Q2 25 | $812.9M | $1.3B | ||
| Q1 25 | $704.8M | $1.3B | ||
| Q4 24 | $747.5M | $1.4B | ||
| Q3 24 | $775.6M | $1.3B | ||
| Q2 24 | $746.1M | $1.3B | ||
| Q1 24 | $752.6M | $1.3B |
净利润SCSCSEE
| Q4 25 | $16.5M | $43.8M | ||
| Q3 25 | $19.9M | $255.1M | ||
| Q2 25 | $20.1M | $93.1M | ||
| Q1 25 | $17.4M | $113.5M | ||
| Q4 24 | $17.1M | $-7.3M | ||
| Q3 24 | $17.0M | $91.7M | ||
| Q2 24 | $16.1M | $98.3M | ||
| Q1 24 | $12.8M | $82.0M |
毛利率SCSCSEE
| Q4 25 | 13.4% | 28.6% | ||
| Q3 25 | 14.5% | 29.8% | ||
| Q2 25 | 12.9% | 30.7% | ||
| Q1 25 | 14.2% | 30.9% | ||
| Q4 24 | 13.6% | 30.0% | ||
| Q3 24 | 13.1% | 30.1% | ||
| Q2 24 | 13.0% | 31.2% | ||
| Q1 24 | 12.6% | 30.3% |
营业利润率SCSCSEE
| Q4 25 | 2.3% | 11.4% | ||
| Q3 25 | 3.5% | 13.8% | ||
| Q2 25 | 3.3% | 15.0% | ||
| Q1 25 | 3.2% | 14.5% | ||
| Q4 24 | 2.5% | 11.7% | ||
| Q3 24 | 2.3% | 13.9% | ||
| Q2 24 | 2.9% | 15.4% | ||
| Q1 24 | 2.3% | 14.0% |
净利率SCSCSEE
| Q4 25 | 2.2% | 3.1% | ||
| Q3 25 | 2.7% | 19.0% | ||
| Q2 25 | 2.5% | 7.0% | ||
| Q1 25 | 2.5% | 9.0% | ||
| Q4 24 | 2.3% | -0.5% | ||
| Q3 24 | 2.2% | 6.9% | ||
| Q2 24 | 2.2% | 7.4% | ||
| Q1 24 | 1.7% | 6.2% |
每股收益（稀释后）SCSCSEE
| Q4 25 | $0.75 | $0.30 | ||
| Q3 25 | $0.89 | $1.73 | ||
| Q2 25 | $0.87 | $0.63 | ||
| Q1 25 | $0.74 | $0.77 | ||
| Q4 24 | $0.70 | $-0.05 | ||
| Q3 24 | $0.69 | $0.63 | ||
| Q2 24 | $0.66 | $0.67 | ||
| Q1 24 | $0.50 | $0.56 |
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 | $83.5M | $344.0M |
| 总债务越低越好 | — | $3.3B |
| 股东权益账面价值 | $910.9M | $1.2B |
| 总资产 | $1.7B | $7.0B |
| 负债/权益比越低杠杆越低 | — | 2.65× |
8季度趋势，按日历期对齐
现金及短期投资SCSCSEE
| Q4 25 | $83.5M | $344.0M | ||
| Q3 25 | $124.9M | $282.5M | ||
| Q2 25 | $126.2M | $354.4M | ||
| Q1 25 | $146.3M | $335.2M | ||
| Q4 24 | $110.5M | $371.8M | ||
| Q3 24 | $145.0M | $386.0M | ||
| Q2 24 | $185.5M | $388.6M | ||
| Q1 24 | $159.1M | $352.8M |
总债务SCSCSEE
| Q4 25 | — | $3.3B | ||
| Q3 25 | — | $4.0B | ||
| Q2 25 | — | $4.0B | ||
| Q1 25 | — | $4.2B | ||
| Q4 24 | — | $4.2B | ||
| Q3 24 | — | $4.3B | ||
| Q2 24 | — | $4.4B | ||
| Q1 24 | — | $4.5B |
股东权益SCSCSEE
| Q4 25 | $910.9M | $1.2B | ||
| Q3 25 | $914.0M | $1.2B | ||
| Q2 25 | $906.4M | $953.1M | ||
| Q1 25 | $901.7M | $797.9M | ||
| Q4 24 | $900.7M | $624.5M | ||
| Q3 24 | $920.9M | $771.2M | ||
| Q2 24 | $924.3M | $650.1M | ||
| Q1 24 | $944.1M | $598.3M |
总资产SCSCSEE
| Q4 25 | $1.7B | $7.0B | ||
| Q3 25 | $1.7B | $7.1B | ||
| Q2 25 | $1.8B | $7.2B | ||
| Q1 25 | $1.7B | $7.0B | ||
| Q4 24 | $1.7B | $7.0B | ||
| Q3 24 | $1.8B | $7.3B | ||
| Q2 24 | $1.8B | $7.3B | ||
| Q1 24 | $1.8B | $7.2B |
负债/权益比SCSCSEE
| Q4 25 | — | 2.65× | ||
| Q3 25 | — | 3.34× | ||
| Q2 25 | — | 4.18× | ||
| Q1 25 | — | 5.26× | ||
| Q4 24 | — | 6.72× | ||
| Q3 24 | — | 5.62× | ||
| Q2 24 | — | 6.81× | ||
| Q1 24 | — | 7.49× |
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 | $293.6M |
| 自由现金流经营现金流 - 资本支出 | $28.9M | $257.7M |
| 自由现金流率自由现金流/营收 | 3.8% | 18.5% |
| 资本支出强度资本支出/营收 | 0.3% | 2.6% |
| 现金转化率经营现金流/净利润 | 1.87× | 6.70× |
| 过去12个月自由现金流最近4个季度 | — | $458.5M |
8季度趋势，按日历期对齐
经营现金流SCSCSEE
| Q4 25 | $30.8M | $293.6M | ||
| Q3 25 | $23.2M | $165.9M | ||
| Q2 25 | — | $136.6M | ||
| Q1 25 | $66.1M | $31.9M | ||
| Q4 24 | $-6.2M | $244.2M | ||
| Q3 24 | $44.8M | $170.5M | ||
| Q2 24 | — | $188.2M | ||
| Q1 24 | $160.2M | $125.1M |
自由现金流SCSCSEE
| Q4 25 | $28.9M | $257.7M | ||
| Q3 25 | $20.8M | $119.6M | ||
| Q2 25 | — | $93.2M | ||
| Q1 25 | $64.6M | $-12.0M | ||
| Q4 24 | $-8.2M | $185.1M | ||
| Q3 24 | $42.5M | $115.2M | ||
| Q2 24 | — | $129.5M | ||
| Q1 24 | $157.7M | $78.0M |
自由现金流率SCSCSEE
| Q4 25 | 3.8% | 18.5% | ||
| Q3 25 | 2.8% | 8.9% | ||
| Q2 25 | — | 7.0% | ||
| Q1 25 | 9.2% | -0.9% | ||
| Q4 24 | -1.1% | 13.6% | ||
| Q3 24 | 5.5% | 8.6% | ||
| Q2 24 | — | 9.7% | ||
| Q1 24 | 21.0% | 5.9% |
资本支出强度SCSCSEE
| Q4 25 | 0.3% | 2.6% | ||
| Q3 25 | 0.3% | 3.4% | ||
| Q2 25 | 0.3% | 3.3% | ||
| Q1 25 | 0.2% | 3.5% | ||
| Q4 24 | 0.3% | 4.4% | ||
| Q3 24 | 0.3% | 4.1% | ||
| Q2 24 | 0.2% | 4.4% | ||
| Q1 24 | 0.3% | 3.6% |
现金转化率SCSCSEE
| Q4 25 | 1.87× | 6.70× | ||
| Q3 25 | 1.17× | 0.65× | ||
| Q2 25 | — | 1.47× | ||
| Q1 25 | 3.79× | 0.28× | ||
| Q4 24 | -0.36× | — | ||
| Q3 24 | 2.64× | 1.86× | ||
| Q2 24 | — | 1.91× | ||
| Q1 24 | 12.51× | 1.53× |
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
SCSC
| Products And Services | $723.4M | 94% |
| Intelisys Advisory | $25.0M | 3% |
| Recurring Revenue | $18.2M | 2% |
SEE
| Protective Segment | $1.1B | 78% |
| Other | $292.0M | 21% |
| Pension Plans Defined Benefit | $7.9M | 1% |
