vs
SCANSOURCE, INC.（SCSC）与VIASAT INC（VSAT）财务数据对比。点击上方公司名可切换其他公司
VIASAT INC的季度营收约是SCANSOURCE, INC.的1.5倍（$1.2B vs $766.5M），VIASAT INC净利率更高（2.2% vs 2.2%，领先0.0%），VIASAT INC同比增速更快（3.0% vs 2.5%），过去两年SCANSOURCE, INC.的营收复合增速更高（0.9% vs 0.3%）
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。
Viasat Inc.是总部坐落于美国加利福尼亚州卡尔斯巴德的通信企业，业务覆盖美国全境及全球多个国家和地区，面向军用与商业市场提供高速卫星宽带服务及安全网络系统相关解决方案。
SCSC vs VSAT — 直观对比
营收规模更大
VSAT
是对方的1.5倍
$766.5M
营收增速更快
VSAT
高出0.4%
2.5%
净利率更高
VSAT
高出0.0%
2.2%
两年增速更快
SCSC
近两年复合增速
0.3%
损益表 — Q2 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $766.5M | $1.2B |
| 净利润 | $16.5M | $25.0M |
| 毛利率 | 13.4% | — |
| 营业利润率 | 2.3% | 2.3% |
| 净利率 | 2.2% | 2.2% |
| 营收同比 | 2.5% | 3.0% |
| 净利润同比 | -3.3% | 115.8% |
| 每股收益（稀释后） | $0.75 | $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SCSCVSAT
| Q4 25 | $766.5M | $1.2B | ||
| Q3 25 | $739.6M | $1.1B | ||
| Q2 25 | $812.9M | $1.2B | ||
| Q1 25 | $704.8M | $1.1B | ||
| Q4 24 | $747.5M | $1.1B | ||
| Q3 24 | $775.6M | $1.1B | ||
| Q2 24 | $746.1M | $1.1B | ||
| Q1 24 | $752.6M | $1.2B |
净利润SCSCVSAT
| Q4 25 | $16.5M | $25.0M | ||
| Q3 25 | $19.9M | $-61.4M | ||
| Q2 25 | $20.1M | $-56.4M | ||
| Q1 25 | $17.4M | $-246.1M | ||
| Q4 24 | $17.1M | $-158.4M | ||
| Q3 24 | $17.0M | $-137.6M | ||
| Q2 24 | $16.1M | $-32.9M | ||
| Q1 24 | $12.8M | $-100.3M |
毛利率SCSCVSAT
| 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SCSCVSAT
| Q4 25 | 2.3% | 2.3% | ||
| Q3 25 | 3.5% | 3.1% | ||
| Q2 25 | 3.3% | 4.0% | ||
| Q1 25 | 3.2% | -13.4% | ||
| Q4 24 | 2.5% | 1.9% | ||
| Q3 24 | 2.3% | -2.2% | ||
| Q2 24 | 2.9% | 5.3% | ||
| Q1 24 | 2.3% | 0.0% |
净利率SCSCVSAT
| Q4 25 | 2.2% | 2.2% | ||
| Q3 25 | 2.7% | -5.4% | ||
| Q2 25 | 2.5% | -4.8% | ||
| Q1 25 | 2.5% | -21.5% | ||
| Q4 24 | 2.3% | -14.1% | ||
| Q3 24 | 2.2% | -12.3% | ||
| Q2 24 | 2.2% | -2.9% | ||
| Q1 24 | 1.7% | -8.7% |
每股收益（稀释后）SCSCVSAT
| Q4 25 | $0.75 | $0.18 | ||
| Q3 25 | $0.89 | $-0.45 | ||
| Q2 25 | $0.87 | $-0.43 | ||
| Q1 25 | $0.74 | $-1.92 | ||
| Q4 24 | $0.70 | $-1.23 | ||
| Q3 24 | $0.69 | $-1.07 | ||
| Q2 24 | $0.66 | $-0.26 | ||
| Q1 24 | $0.50 | $-1.14 |
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 | $1.3B |
| 总债务越低越好 | — | $6.2B |
| 股东权益账面价值 | $910.9M | $4.6B |
| 总资产 | $1.7B | $14.9B |
| 负债/权益比越低杠杆越低 | — | 1.37× |
8季度趋势，按日历期对齐
现金及短期投资SCSCVSAT
| Q4 25 | $83.5M | $1.3B | ||
| Q3 25 | $124.9M | $1.2B | ||
| Q2 25 | $126.2M | $1.2B | ||
| Q1 25 | $146.3M | $1.6B | ||
| Q4 24 | $110.5M | $1.6B | ||
| Q3 24 | $145.0M | $3.5B | ||
| Q2 24 | $185.5M | $1.8B | ||
| Q1 24 | $159.1M | $1.9B |
总债务SCSCVSAT
| Q4 25 | — | $6.2B | ||
| Q3 25 | — | $6.5B | ||
| Q2 25 | — | $6.5B | ||
| Q1 25 | — | $6.5B | ||
| Q4 24 | — | $6.5B | ||
| Q3 24 | — | $6.4B | ||
| Q2 24 | — | $7.1B | ||
| Q1 24 | — | $7.1B |
股东权益SCSCVSAT
| Q4 25 | $910.9M | $4.6B | ||
| Q3 25 | $914.0M | $4.5B | ||
| Q2 25 | $906.4M | $4.6B | ||
| Q1 25 | $901.7M | $4.6B | ||
| Q4 24 | $900.7M | $4.8B | ||
| Q3 24 | $920.9M | $4.9B | ||
| Q2 24 | $924.3M | $5.0B | ||
| Q1 24 | $944.1M | $5.0B |
总资产SCSCVSAT
| Q4 25 | $1.7B | $14.9B | ||
| Q3 25 | $1.7B | $14.8B | ||
| Q2 25 | $1.8B | $14.9B | ||
| Q1 25 | $1.7B | $15.4B | ||
| Q4 24 | $1.7B | $15.6B | ||
| Q3 24 | $1.8B | $17.8B | ||
| Q2 24 | $1.8B | $16.1B | ||
| Q1 24 | $1.8B | $16.3B |
负债/权益比SCSCVSAT
| Q4 25 | — | 1.37× | ||
| Q3 25 | — | 1.44× | ||
| Q2 25 | — | 1.43× | ||
| Q1 25 | — | 1.43× | ||
| Q4 24 | — | 1.37× | ||
| Q3 24 | — | 1.30× | ||
| Q2 24 | — | 1.42× | ||
| Q1 24 | — | 1.42× |
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 | $726.9M |
| 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× | 29.11× |
| 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SCSCVSAT
| Q4 25 | $30.8M | $726.9M | ||
| Q3 25 | $23.2M | $282.2M | ||
| Q2 25 | — | $258.5M | ||
| Q1 25 | $66.1M | $298.4M | ||
| Q4 24 | $-6.2M | $219.5M | ||
| Q3 24 | $44.8M | $239.2M | ||
| Q2 24 | — | $151.1M | ||
| Q1 24 | $160.2M | $232.0M |
自由现金流SCSCVSAT
| 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SCSCVSAT
| 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SCSCVSAT
| 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SCSCVSAT
| Q4 25 | 1.87× | 29.11× | ||
| Q3 25 | 1.17× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 3.79× | — | ||
| Q4 24 | -0.36× | — | ||
| Q3 24 | 2.64× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 12.51× | — |
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% |
VSAT
| Products | $334.2M | 29% |
| Aviation Services | $303.7M | 26% |
| Government Satcom Services | $202.4M | 17% |
| Maritime Services | $114.9M | 10% |
| Information Security And Cyber Defense Products | $97.0M | 8% |
| Tactical Networking Products | $93.9M | 8% |
| Navarino Uk And Jsat Mobile | $15.5M | 1% |
| Advanced Technologies And Other Products | $6.1M | 1% |
