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SCANSOURCE, INC.（SCSC）与沃特世（WAT）财务数据对比。点击上方公司名可切换其他公司
沃特世的季度营收约是SCANSOURCE, INC.的1.2倍（$932.4M vs $766.5M），沃特世净利率更高（24.2% vs 2.2%，领先22.0%），沃特世同比增速更快（6.8% vs 2.5%），过去两年沃特世的营收复合增速更高（21.0% 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。
沃特世是总部位于美国马萨诸塞州米尔福德的企业，面向生命科学、材料、食品等行业，提供色谱、质谱、实验室信息学、流变测量领域所用的分析仪器及配套软件，为各领域的检测、研发等工作提供可靠技术支持。
SCSC vs WAT — 直观对比
营收规模更大
WAT
是对方的1.2倍
$766.5M
营收增速更快
WAT
高出4.3%
2.5%
净利率更高
WAT
高出22.0%
2.2%
两年增速更快
WAT
近两年复合增速
0.9%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $766.5M | $932.4M |
| 净利润 | $16.5M | $225.2M |
| 毛利率 | 13.4% | 61.1% |
| 营业利润率 | 2.3% | 29.0% |
| 净利率 | 2.2% | 24.2% |
| 营收同比 | 2.5% | 6.8% |
| 净利润同比 | -3.3% | -2.7% |
| 每股收益（稀释后） | $0.75 | $3.76 |
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SCSCWAT
| Q4 25 | $766.5M | $932.4M | ||
| Q3 25 | $739.6M | $799.9M | ||
| Q2 25 | $812.9M | $771.3M | ||
| Q1 25 | $704.8M | $661.7M | ||
| Q4 24 | $747.5M | $872.7M | ||
| Q3 24 | $775.6M | $740.3M | ||
| Q2 24 | $746.1M | $708.5M | ||
| Q1 24 | $752.6M | $636.8M |
净利润SCSCWAT
| Q4 25 | $16.5M | $225.2M | ||
| Q3 25 | $19.9M | $148.9M | ||
| Q2 25 | $20.1M | $147.1M | ||
| Q1 25 | $17.4M | $121.4M | ||
| Q4 24 | $17.1M | $231.4M | ||
| Q3 24 | $17.0M | $161.5M | ||
| Q2 24 | $16.1M | $142.7M | ||
| Q1 24 | $12.8M | $102.2M |
毛利率SCSCWAT
| Q4 25 | 13.4% | 61.1% | ||
| Q3 25 | 14.5% | 59.0% | ||
| Q2 25 | 12.9% | 58.3% | ||
| Q1 25 | 14.2% | 58.2% | ||
| Q4 24 | 13.6% | 60.1% | ||
| Q3 24 | 13.1% | 59.3% | ||
| Q2 24 | 13.0% | 59.3% | ||
| Q1 24 | 12.6% | 58.9% |
营业利润率SCSCWAT
| Q4 25 | 2.3% | 29.0% | ||
| Q3 25 | 3.5% | 24.0% | ||
| Q2 25 | 3.3% | 24.4% | ||
| Q1 25 | 3.2% | 22.9% | ||
| Q4 24 | 2.5% | 33.5% | ||
| Q3 24 | 2.3% | 28.5% | ||
| Q2 24 | 2.9% | 26.7% | ||
| Q1 24 | 2.3% | 21.0% |
净利率SCSCWAT
| Q4 25 | 2.2% | 24.2% | ||
| Q3 25 | 2.7% | 18.6% | ||
| Q2 25 | 2.5% | 19.1% | ||
| Q1 25 | 2.5% | 18.3% | ||
| Q4 24 | 2.3% | 26.5% | ||
| Q3 24 | 2.2% | 21.8% | ||
| Q2 24 | 2.2% | 20.1% | ||
| Q1 24 | 1.7% | 16.0% |
每股收益（稀释后）SCSCWAT
| Q4 25 | $0.75 | $3.76 | ||
| Q3 25 | $0.89 | $2.50 | ||
| Q2 25 | $0.87 | $2.47 | ||
| Q1 25 | $0.74 | $2.03 | ||
| Q4 24 | $0.70 | $3.88 | ||
| Q3 24 | $0.69 | $2.71 | ||
| Q2 24 | $0.66 | $2.40 | ||
| Q1 24 | $0.50 | $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 | $83.5M | $587.8M |
| 总债务越低越好 | — | $1.4B |
| 股东权益账面价值 | $910.9M | $2.6B |
| 总资产 | $1.7B | $5.1B |
| 负债/权益比越低杠杆越低 | — | 0.55× |
8季度趋势，按日历期对齐
现金及短期投资SCSCWAT
| Q4 25 | $83.5M | $587.8M | ||
| Q3 25 | $124.9M | $459.1M | ||
| Q2 25 | $126.2M | $367.2M | ||
| Q1 25 | $146.3M | $382.9M | ||
| Q4 24 | $110.5M | $325.4M | ||
| Q3 24 | $145.0M | $331.5M | ||
| Q2 24 | $185.5M | $327.4M | ||
| Q1 24 | $159.1M | $338.2M |
总债务SCSCWAT
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益SCSCWAT
| Q4 25 | $910.9M | $2.6B | ||
| Q3 25 | $914.0M | $2.3B | ||
| Q2 25 | $906.4M | $2.2B | ||
| Q1 25 | $901.7M | $2.0B | ||
| Q4 24 | $900.7M | $1.8B | ||
| Q3 24 | $920.9M | $1.6B | ||
| Q2 24 | $924.3M | $1.4B | ||
| Q1 24 | $944.1M | $1.3B |
总资产SCSCWAT
| Q4 25 | $1.7B | $5.1B | ||
| Q3 25 | $1.7B | $4.9B | ||
| Q2 25 | $1.8B | $4.7B | ||
| Q1 25 | $1.7B | $4.6B | ||
| Q4 24 | $1.7B | $4.6B | ||
| Q3 24 | $1.8B | $4.5B | ||
| Q2 24 | $1.8B | $4.4B | ||
| Q1 24 | $1.8B | $4.5B |
负债/权益比SCSCWAT
| Q4 25 | — | 0.55× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.89× | ||
| 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 | $30.8M | $164.6M |
| 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× | 0.73× |
| 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SCSCWAT
| Q4 25 | $30.8M | $164.6M | ||
| Q3 25 | $23.2M | $187.3M | ||
| Q2 25 | — | $41.1M | ||
| Q1 25 | $66.1M | $259.6M | ||
| Q4 24 | $-6.2M | $240.1M | ||
| Q3 24 | $44.8M | $204.6M | ||
| Q2 24 | — | $54.5M | ||
| Q1 24 | $160.2M | $262.9M |
自由现金流SCSCWAT
| 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SCSCWAT
| 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SCSCWAT
| 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SCSCWAT
| Q4 25 | 1.87× | 0.73× | ||
| Q3 25 | 1.17× | 1.26× | ||
| Q2 25 | — | 0.28× | ||
| Q1 25 | 3.79× | 2.14× | ||
| Q4 24 | -0.36× | 1.04× | ||
| Q3 24 | 2.64× | 1.27× | ||
| Q2 24 | — | 0.38× | ||
| Q1 24 | 12.51× | 2.57× |
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% |
WAT
暂无分部数据
