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SCANSOURCE, INC.（SCSC）与West Pharmaceutical Services（WST）财务数据对比。点击上方公司名可切换其他公司
West Pharmaceutical Services的季度营收约是SCANSOURCE, INC.的1.1倍（$805.0M vs $766.5M），West Pharmaceutical Services净利率更高（16.4% vs 2.2%，领先14.3%），West Pharmaceutical Services同比增速更快（7.5% vs 2.5%），West Pharmaceutical Services自由现金流更多（$175.0M vs $28.9M），过去两年West Pharmaceutical Services的营收复合增速更高（7.6% 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。
美国West Pharmaceutical Services是注射用药品包装及给药系统的设计和制造商，1923年成立，总部位于宾夕法尼亚州埃克斯顿。成立初期主营注射类药物包装用橡胶组件，曾为青霉素和胰岛素生产商提供符合无菌要求的配套产品。
SCSC vs WST — 直观对比
营收规模更大
WST
是对方的1.1倍
$766.5M
营收增速更快
WST
高出5.0%
2.5%
净利率更高
WST
高出14.3%
2.2%
自由现金流更多
WST
多$146.1M
$28.9M
两年增速更快
WST
近两年复合增速
0.9%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $766.5M | $805.0M |
| 净利润 | $16.5M | $132.1M |
| 毛利率 | 13.4% | 37.8% |
| 营业利润率 | 2.3% | 19.5% |
| 净利率 | 2.2% | 16.4% |
| 营收同比 | 2.5% | 7.5% |
| 净利润同比 | -3.3% | 1.5% |
| 每股收益（稀释后） | $0.75 | $1.82 |
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SCSCWST
| Q4 25 | $766.5M | $805.0M | ||
| Q3 25 | $739.6M | $804.6M | ||
| Q2 25 | $812.9M | $766.5M | ||
| Q1 25 | $704.8M | $698.0M | ||
| Q4 24 | $747.5M | $748.8M | ||
| Q3 24 | $775.6M | $746.9M | ||
| Q2 24 | $746.1M | $702.1M | ||
| Q1 24 | $752.6M | $695.4M |
净利润SCSCWST
| Q4 25 | $16.5M | $132.1M | ||
| Q3 25 | $19.9M | $140.0M | ||
| Q2 25 | $20.1M | $131.8M | ||
| Q1 25 | $17.4M | $89.8M | ||
| Q4 24 | $17.1M | $130.1M | ||
| Q3 24 | $17.0M | $136.0M | ||
| Q2 24 | $16.1M | $111.3M | ||
| Q1 24 | $12.8M | $115.3M |
毛利率SCSCWST
| Q4 25 | 13.4% | 37.8% | ||
| Q3 25 | 14.5% | 36.6% | ||
| Q2 25 | 12.9% | 35.7% | ||
| Q1 25 | 14.2% | 33.2% | ||
| Q4 24 | 13.6% | 36.5% | ||
| Q3 24 | 13.1% | 35.4% | ||
| Q2 24 | 13.0% | 32.8% | ||
| Q1 24 | 12.6% | 33.1% |
营业利润率SCSCWST
| Q4 25 | 2.3% | 19.5% | ||
| Q3 25 | 3.5% | 20.8% | ||
| Q2 25 | 3.3% | 20.1% | ||
| Q1 25 | 3.2% | 15.3% | ||
| Q4 24 | 2.5% | 21.3% | ||
| Q3 24 | 2.3% | 21.6% | ||
| Q2 24 | 2.9% | 18.0% | ||
| Q1 24 | 2.3% | 17.7% |
净利率SCSCWST
| Q4 25 | 2.2% | 16.4% | ||
| Q3 25 | 2.7% | 17.4% | ||
| Q2 25 | 2.5% | 17.2% | ||
| Q1 25 | 2.5% | 12.9% | ||
| Q4 24 | 2.3% | 17.4% | ||
| Q3 24 | 2.2% | 18.2% | ||
| Q2 24 | 2.2% | 15.9% | ||
| Q1 24 | 1.7% | 16.6% |
每股收益（稀释后）SCSCWST
| Q4 25 | $0.75 | $1.82 | ||
| Q3 25 | $0.89 | $1.92 | ||
| Q2 25 | $0.87 | $1.82 | ||
| Q1 25 | $0.74 | $1.23 | ||
| Q4 24 | $0.70 | $1.78 | ||
| Q3 24 | $0.69 | $1.85 | ||
| Q2 24 | $0.66 | $1.51 | ||
| Q1 24 | $0.50 | $1.55 |
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 | $791.3M |
| 总债务越低越好 | — | $202.8M |
| 股东权益账面价值 | $910.9M | $3.2B |
| 总资产 | $1.7B | $4.3B |
| 负债/权益比越低杠杆越低 | — | 0.06× |
8季度趋势，按日历期对齐
现金及短期投资SCSCWST
| Q4 25 | $83.5M | $791.3M | ||
| Q3 25 | $124.9M | $628.5M | ||
| Q2 25 | $126.2M | $509.7M | ||
| Q1 25 | $146.3M | $404.2M | ||
| Q4 24 | $110.5M | $484.6M | ||
| Q3 24 | $145.0M | $490.9M | ||
| Q2 24 | $185.5M | $446.2M | ||
| Q1 24 | $159.1M | $601.8M |
总债务SCSCWST
| Q4 25 | — | $202.8M | ||
| Q3 25 | — | $202.7M | ||
| Q2 25 | — | $202.6M | ||
| Q1 25 | — | $202.6M | ||
| Q4 24 | — | $202.6M | ||
| Q3 24 | — | $202.6M | ||
| Q2 24 | — | $205.8M | ||
| Q1 24 | — | $206.2M |
股东权益SCSCWST
| Q4 25 | $910.9M | $3.2B | ||
| Q3 25 | $914.0M | $3.1B | ||
| Q2 25 | $906.4M | $2.9B | ||
| Q1 25 | $901.7M | $2.7B | ||
| Q4 24 | $900.7M | $2.7B | ||
| Q3 24 | $920.9M | $2.8B | ||
| Q2 24 | $924.3M | $2.6B | ||
| Q1 24 | $944.1M | $2.7B |
总资产SCSCWST
| Q4 25 | $1.7B | $4.3B | ||
| Q3 25 | $1.7B | $4.1B | ||
| Q2 25 | $1.8B | $4.0B | ||
| Q1 25 | $1.7B | $3.6B | ||
| Q4 24 | $1.7B | $3.6B | ||
| Q3 24 | $1.8B | $3.7B | ||
| Q2 24 | $1.8B | $3.5B | ||
| Q1 24 | $1.8B | $3.6B |
负债/权益比SCSCWST
| Q4 25 | — | 0.06× | ||
| Q3 25 | — | 0.07× | ||
| Q2 25 | — | 0.07× | ||
| Q1 25 | — | 0.08× | ||
| Q4 24 | — | 0.08× | ||
| Q3 24 | — | 0.07× | ||
| Q2 24 | — | 0.08× | ||
| Q1 24 | — | 0.08× |
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 | $251.1M |
| 自由现金流经营现金流 - 资本支出 | $28.9M | $175.0M |
| 自由现金流率自由现金流/营收 | 3.8% | 21.7% |
| 资本支出强度资本支出/营收 | 0.3% | 9.5% |
| 现金转化率经营现金流/净利润 | 1.87× | 1.90× |
| 过去12个月自由现金流最近4个季度 | — | $468.9M |
8季度趋势，按日历期对齐
经营现金流SCSCWST
| Q4 25 | $30.8M | $251.1M | ||
| Q3 25 | $23.2M | $197.2M | ||
| Q2 25 | — | $177.1M | ||
| Q1 25 | $66.1M | $129.4M | ||
| Q4 24 | $-6.2M | $190.1M | ||
| Q3 24 | $44.8M | $180.1M | ||
| Q2 24 | — | $165.0M | ||
| Q1 24 | $160.2M | $118.2M |
自由现金流SCSCWST
| Q4 25 | $28.9M | $175.0M | ||
| Q3 25 | $20.8M | $133.9M | ||
| Q2 25 | — | $101.9M | ||
| Q1 25 | $64.6M | $58.1M | ||
| Q4 24 | $-8.2M | $85.2M | ||
| Q3 24 | $42.5M | $98.8M | ||
| Q2 24 | — | $64.8M | ||
| Q1 24 | $157.7M | $27.6M |
自由现金流率SCSCWST
| Q4 25 | 3.8% | 21.7% | ||
| Q3 25 | 2.8% | 16.6% | ||
| Q2 25 | — | 13.3% | ||
| Q1 25 | 9.2% | 8.3% | ||
| Q4 24 | -1.1% | 11.4% | ||
| Q3 24 | 5.5% | 13.2% | ||
| Q2 24 | — | 9.2% | ||
| Q1 24 | 21.0% | 4.0% |
资本支出强度SCSCWST
| Q4 25 | 0.3% | 9.5% | ||
| Q3 25 | 0.3% | 7.9% | ||
| Q2 25 | 0.3% | 9.8% | ||
| Q1 25 | 0.2% | 10.2% | ||
| Q4 24 | 0.3% | 14.0% | ||
| Q3 24 | 0.3% | 10.9% | ||
| Q2 24 | 0.2% | 14.3% | ||
| Q1 24 | 0.3% | 13.0% |
现金转化率SCSCWST
| Q4 25 | 1.87× | 1.90× | ||
| Q3 25 | 1.17× | 1.41× | ||
| Q2 25 | — | 1.34× | ||
| Q1 25 | 3.79× | 1.44× | ||
| Q4 24 | -0.36× | 1.46× | ||
| Q3 24 | 2.64× | 1.32× | ||
| Q2 24 | — | 1.48× | ||
| Q1 24 | 12.51× | 1.03× |
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% |
WST
| Proprietary Products | $661.8M | 82% |
| Contract Manufactured Products | $143.2M | 18% |
| Affiliated Entity | $3.3M | 0% |
