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SCANSOURCE, INC.（SCSC）与STARWOOD PROPERTY TRUST, INC.（STWD）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STARWOOD PROPERTY TRUST, INC.的1.6倍（$766.5M vs $492.9M），STARWOOD PROPERTY TRUST, INC.净利率更高（19.7% vs 2.2%，领先17.5%），STARWOOD PROPERTY TRUST, INC.同比增速更快（8.5% vs 2.5%），过去两年SCANSOURCE, INC.的营收复合增速更高（0.9% vs -2.9%）
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。
喜达屋酒店及度假村国际集团是全球规模最大的酒店企业之一，业务涵盖酒店、度假村、水疗中心、住宅及度假产权物业的持有、运营、特许经营与管理。集团前身为1969年成立的房地产投资信托基金，1995年完成收购重组，旗下共11个品牌，管理及特许经营的物业共计1297处。
SCSC vs STWD — 直观对比
营收规模更大
SCSC
是对方的1.6倍
$492.9M
营收增速更快
STWD
高出5.9%
2.5%
净利率更高
STWD
高出17.5%
2.2%
两年增速更快
SCSC
近两年复合增速
-2.9%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $766.5M | $492.9M |
| 净利润 | $16.5M | $96.9M |
| 毛利率 | 13.4% | — |
| 营业利润率 | 2.3% | 26.6% |
| 净利率 | 2.2% | 19.7% |
| 营收同比 | 2.5% | 8.5% |
| 净利润同比 | -3.3% | 87.7% |
| 每股收益（稀释后） | $0.75 | $0.25 |
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SCSCSTWD
| Q4 25 | $766.5M | $492.9M | ||
| Q3 25 | $739.6M | $488.9M | ||
| Q2 25 | $812.9M | $444.3M | ||
| Q1 25 | $704.8M | $418.2M | ||
| Q4 24 | $747.5M | $454.4M | ||
| Q3 24 | $775.6M | $479.5M | ||
| Q2 24 | $746.1M | $489.8M | ||
| Q1 24 | $752.6M | $523.1M |
净利润SCSCSTWD
| Q4 25 | $16.5M | $96.9M | ||
| Q3 25 | $19.9M | $72.6M | ||
| Q2 25 | $20.1M | $129.8M | ||
| Q1 25 | $17.4M | $112.3M | ||
| Q4 24 | $17.1M | $51.6M | ||
| Q3 24 | $17.0M | $76.1M | ||
| Q2 24 | $16.1M | $77.9M | ||
| Q1 24 | $12.8M | $154.3M |
毛利率SCSCSTWD
| Q4 25 | 13.4% | — | ||
| Q3 25 | 14.5% | — | ||
| Q2 25 | 12.9% | — | ||
| Q1 25 | 14.2% | — | ||
| Q4 24 | 13.6% | — | ||
| Q3 24 | 13.1% | — | ||
| Q2 24 | 13.0% | — | ||
| Q1 24 | 12.6% | — |
营业利润率SCSCSTWD
| Q4 25 | 2.3% | 26.6% | ||
| Q3 25 | 3.5% | 19.1% | ||
| Q2 25 | 3.3% | 30.5% | ||
| Q1 25 | 3.2% | 28.7% | ||
| Q4 24 | 2.5% | 15.1% | ||
| Q3 24 | 2.3% | 17.2% | ||
| Q2 24 | 2.9% | 19.1% | ||
| Q1 24 | 2.3% | 30.8% |
净利率SCSCSTWD
| Q4 25 | 2.2% | 19.7% | ||
| Q3 25 | 2.7% | 14.8% | ||
| Q2 25 | 2.5% | 29.2% | ||
| Q1 25 | 2.5% | 26.8% | ||
| Q4 24 | 2.3% | 11.4% | ||
| Q3 24 | 2.2% | 15.9% | ||
| Q2 24 | 2.2% | 15.9% | ||
| Q1 24 | 1.7% | 29.5% |
每股收益（稀释后）SCSCSTWD
| Q4 25 | $0.75 | $0.25 | ||
| Q3 25 | $0.89 | $0.19 | ||
| Q2 25 | $0.87 | $0.38 | ||
| Q1 25 | $0.74 | $0.33 | ||
| Q4 24 | $0.70 | $0.15 | ||
| Q3 24 | $0.69 | $0.23 | ||
| Q2 24 | $0.66 | $0.24 | ||
| Q1 24 | $0.50 | $0.48 |
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 | $499.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $910.9M | $6.8B |
| 总资产 | $1.7B | $63.2B |
| 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SCSCSTWD
| Q4 25 | $83.5M | $499.5M | ||
| Q3 25 | $124.9M | $301.1M | ||
| Q2 25 | $126.2M | $259.9M | ||
| Q1 25 | $146.3M | $440.6M | ||
| Q4 24 | $110.5M | $377.8M | ||
| Q3 24 | $145.0M | $357.9M | ||
| Q2 24 | $185.5M | $259.3M | ||
| Q1 24 | $159.1M | $327.4M |
股东权益SCSCSTWD
| Q4 25 | $910.9M | $6.8B | ||
| Q3 25 | $914.0M | $6.9B | ||
| Q2 25 | $906.4M | $6.4B | ||
| Q1 25 | $901.7M | $6.4B | ||
| Q4 24 | $900.7M | $6.4B | ||
| Q3 24 | $920.9M | $6.5B | ||
| Q2 24 | $924.3M | $6.2B | ||
| Q1 24 | $944.1M | $6.3B |
总资产SCSCSTWD
| Q4 25 | $1.7B | $63.2B | ||
| Q3 25 | $1.7B | $62.4B | ||
| Q2 25 | $1.8B | $62.4B | ||
| Q1 25 | $1.7B | $62.2B | ||
| Q4 24 | $1.7B | $62.6B | ||
| Q3 24 | $1.8B | $64.2B | ||
| Q2 24 | $1.8B | $64.1B | ||
| Q1 24 | $1.8B | $66.2B |
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 | $488.8M |
| 自由现金流经营现金流 - 资本支出 | $28.9M | — |
| 自由现金流率自由现金流/营收 | 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× | 5.04× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流SCSCSTWD
| Q4 25 | $30.8M | $488.8M | ||
| Q3 25 | $23.2M | $337.6M | ||
| Q2 25 | — | $-87.4M | ||
| Q1 25 | $66.1M | $238.9M | ||
| Q4 24 | $-6.2M | $295.6M | ||
| Q3 24 | $44.8M | $241.8M | ||
| Q2 24 | — | $53.3M | ||
| Q1 24 | $160.2M | $55.9M |
自由现金流SCSCSTWD
| Q4 25 | $28.9M | — | ||
| Q3 25 | $20.8M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $64.6M | — | ||
| Q4 24 | $-8.2M | — | ||
| Q3 24 | $42.5M | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $157.7M | — |
自由现金流率SCSCSTWD
| Q4 25 | 3.8% | — | ||
| Q3 25 | 2.8% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 9.2% | — | ||
| Q4 24 | -1.1% | — | ||
| Q3 24 | 5.5% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 21.0% | — |
资本支出强度SCSCSTWD
| Q4 25 | 0.3% | — | ||
| Q3 25 | 0.3% | — | ||
| Q2 25 | 0.3% | — | ||
| Q1 25 | 0.2% | — | ||
| Q4 24 | 0.3% | — | ||
| Q3 24 | 0.3% | — | ||
| Q2 24 | 0.2% | — | ||
| Q1 24 | 0.3% | — |
现金转化率SCSCSTWD
| Q4 25 | 1.87× | 5.04× | ||
| Q3 25 | 1.17× | 4.65× | ||
| Q2 25 | — | -0.67× | ||
| Q1 25 | 3.79× | 2.13× | ||
| Q4 24 | -0.36× | 5.72× | ||
| Q3 24 | 2.64× | 3.18× | ||
| Q2 24 | — | 0.68× | ||
| Q1 24 | 12.51× | 0.36× |
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% |
STWD
| Commercial And Residential Lending Segment | $335.2M | 68% |
| Infrastructure Lending Segment | $70.3M | 14% |
| Property Segment | $57.8M | 12% |
| Other | $29.7M | 6% |
