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ACI WORLDWIDE, INC.（ACIW）与SHOPIFY INC.（SHOP）财务数据对比。点击上方公司名可切换其他公司
SHOPIFY INC.的季度营收约是ACI WORLDWIDE, INC.的7.6倍（$3.7B vs $481.6M）。SHOPIFY INC.净利率更高（20.2% vs 13.4%，领先6.9%）。SHOPIFY INC.同比增速更快（30.6% vs 6.3%）。SHOPIFY INC.自由现金流更多（$715.0M vs $116.6M）。过去两年SHOPIFY INC.的营收复合增速更高（40.5% vs 23.4%）
ACI Worldwide是全球领先的数字支付软件企业，总部位于美国内布拉斯加州埃尔克霍恩，为94个国家的客户提供服务，每日处理数十亿笔交易，总价值达数万亿美元。其智能解决方案服务于银行、金融机构、商户、账单服务商、收单机构、发卡机构及第三方支付服务商，支持全渠道搭建安全支付体系。
Shopify是总部位于加拿大安大略省渥太华的跨国电商企业，运营零售POS系统及相关服务平台，全球客户超500万，2024年总交易处理额达2923亿美元，其中57%来自美国市场，服务客户包括特斯拉、路威酩轩、雀巢、百事、百威英博、红牛、凯悦等知名品牌。
ACIW vs SHOP — 直观对比
营收规模更大
SHOP
是对方的7.6倍
$481.6M
营收增速更快
SHOP
高出24.3%
6.3%
净利率更高
SHOP
高出6.9%
13.4%
自由现金流更多
SHOP
多$598.4M
$116.6M
两年增速更快
SHOP
近两年复合增速
23.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $481.6M | $3.7B |
| 净利润 | $64.3M | $743.0M |
| 毛利率 | 53.0% | 46.1% |
| 营业利润率 | 22.6% | 17.2% |
| 净利率 | 13.4% | 20.2% |
| 营收同比 | 6.3% | 30.6% |
| 净利润同比 | -34.7% | -42.5% |
| 每股收益（稀释后） | $0.61 | $0.58 |
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ACIWSHOP
| Q4 25 | $481.6M | $3.7B | ||
| Q3 25 | $482.4M | $2.8B | ||
| Q2 25 | $401.3M | $2.7B | ||
| Q1 25 | $394.6M | $2.4B | ||
| Q4 24 | $453.0M | $2.8B | ||
| Q3 24 | $451.8M | $2.2B | ||
| Q2 24 | $373.5M | $2.0B | ||
| Q1 24 | $316.0M | $1.9B |
净利润ACIWSHOP
| Q4 25 | $64.3M | $743.0M | ||
| Q3 25 | $91.3M | $264.0M | ||
| Q2 25 | $12.2M | $906.0M | ||
| Q1 25 | $58.9M | $-682.0M | ||
| Q4 24 | $98.6M | $1.3B | ||
| Q3 24 | $81.4M | $828.0M | ||
| Q2 24 | $30.9M | $171.0M | ||
| Q1 24 | $-7.8M | $-273.0M |
毛利率ACIWSHOP
| Q4 25 | 53.0% | 46.1% | ||
| Q3 25 | 53.7% | 48.9% | ||
| Q2 25 | 41.5% | 48.6% | ||
| Q1 25 | 45.9% | 49.5% | ||
| Q4 24 | 55.8% | 48.1% | ||
| Q3 24 | 56.3% | 51.7% | ||
| Q2 24 | 45.6% | 51.1% | ||
| Q1 24 | 39.5% | 51.4% |
营业利润率ACIWSHOP
| Q4 25 | 22.6% | 17.2% | ||
| Q3 25 | 26.5% | 12.1% | ||
| Q2 25 | 8.7% | 10.9% | ||
| Q1 25 | 14.8% | 8.6% | ||
| Q4 24 | 27.0% | 16.5% | ||
| Q3 24 | 27.1% | 13.1% | ||
| Q2 24 | 14.4% | 11.8% | ||
| Q1 24 | 3.0% | 4.6% |
净利率ACIWSHOP
| Q4 25 | 13.4% | 20.2% | ||
| Q3 25 | 18.9% | 9.3% | ||
| Q2 25 | 3.0% | 33.8% | ||
| Q1 25 | 14.9% | -28.9% | ||
| Q4 24 | 21.8% | 46.0% | ||
| Q3 24 | 18.0% | 38.3% | ||
| Q2 24 | 8.3% | 8.4% | ||
| Q1 24 | -2.5% | -14.7% |
每股收益（稀释后）ACIWSHOP
| Q4 25 | $0.61 | $0.58 | ||
| Q3 25 | $0.88 | $0.20 | ||
| Q2 25 | $0.12 | $0.69 | ||
| Q1 25 | $0.55 | $-0.53 | ||
| Q4 24 | $0.92 | $0.99 | ||
| Q3 24 | $0.77 | $0.64 | ||
| Q2 24 | $0.29 | $0.13 | ||
| Q1 24 | $-0.07 | $-0.21 |
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 | $196.5M | $5.8B |
| 总债务越低越好 | $817.6M | — |
| 股东权益账面价值 | $1.5B | $13.5B |
| 总资产 | $3.1B | $15.2B |
| 负债/权益比越低杠杆越低 | 0.54× | — |
8季度趋势，按日历期对齐
现金及短期投资ACIWSHOP
| Q4 25 | $196.5M | $5.8B | ||
| Q3 25 | $199.3M | $6.3B | ||
| Q2 25 | $189.7M | $5.8B | ||
| Q1 25 | $230.1M | $5.5B | ||
| Q4 24 | $216.4M | $5.5B | ||
| Q3 24 | $177.9M | — | ||
| Q2 24 | $157.0M | — | ||
| Q1 24 | $183.4M | — |
总债务ACIWSHOP
| Q4 25 | $817.6M | — | ||
| Q3 25 | $867.8M | — | ||
| Q2 25 | $898.0M | — | ||
| Q1 25 | $845.9M | — | ||
| Q4 24 | $924.6M | — | ||
| Q3 24 | $994.3M | — | ||
| Q2 24 | $1.0B | — | ||
| Q1 24 | $1.0B | — |
股东权益ACIWSHOP
| Q4 25 | $1.5B | $13.5B | ||
| Q3 25 | $1.5B | $12.5B | ||
| Q2 25 | $1.4B | $12.1B | ||
| Q1 25 | $1.5B | $11.1B | ||
| Q4 24 | $1.4B | $11.6B | ||
| Q3 24 | $1.3B | $10.1B | ||
| Q2 24 | $1.2B | $9.2B | ||
| Q1 24 | $1.3B | $8.9B |
总资产ACIWSHOP
| Q4 25 | $3.1B | $15.2B | ||
| Q3 25 | $3.2B | $15.0B | ||
| Q2 25 | $3.1B | $14.6B | ||
| Q1 25 | $3.2B | $13.4B | ||
| Q4 24 | $3.0B | $13.9B | ||
| Q3 24 | $3.1B | — | ||
| Q2 24 | $3.4B | — | ||
| Q1 24 | $3.3B | — |
负债/权益比ACIWSHOP
| Q4 25 | 0.54× | — | ||
| Q3 25 | 0.59× | — | ||
| Q2 25 | 0.64× | — | ||
| Q1 25 | 0.57× | — | ||
| Q4 24 | 0.65× | — | ||
| Q3 24 | 0.75× | — | ||
| Q2 24 | 0.82× | — | ||
| Q1 24 | 0.81× | — |
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 | $121.8M | $725.0M |
| 自由现金流经营现金流 - 资本支出 | $116.6M | $715.0M |
| 自由现金流率自由现金流/营收 | 24.2% | 19.5% |
| 资本支出强度资本支出/营收 | 1.1% | 0.3% |
| 现金转化率经营现金流/净利润 | 1.89× | 0.98× |
| 过去12个月自由现金流最近4个季度 | $309.9M | $2.0B |
8季度趋势，按日历期对齐
经营现金流ACIWSHOP
| Q4 25 | $121.8M | $725.0M | ||
| Q3 25 | $73.0M | $513.0M | ||
| Q2 25 | $49.8M | $428.0M | ||
| Q1 25 | $78.2M | $367.0M | ||
| Q4 24 | $126.5M | $615.0M | ||
| Q3 24 | $54.0M | $423.0M | ||
| Q2 24 | $55.0M | $340.0M | ||
| Q1 24 | $123.2M | $238.0M |
自由现金流ACIWSHOP
| Q4 25 | $116.6M | $715.0M | ||
| Q3 25 | $69.6M | $507.0M | ||
| Q2 25 | $47.6M | $422.0M | ||
| Q1 25 | $76.1M | $363.0M | ||
| Q4 24 | $119.5M | $611.0M | ||
| Q3 24 | $50.5M | $421.0M | ||
| Q2 24 | $53.3M | $333.0M | ||
| Q1 24 | $120.0M | $232.0M |
自由现金流率ACIWSHOP
| Q4 25 | 24.2% | 19.5% | ||
| Q3 25 | 14.4% | 17.8% | ||
| Q2 25 | 11.9% | 15.7% | ||
| Q1 25 | 19.3% | 15.4% | ||
| Q4 24 | 26.4% | 21.7% | ||
| Q3 24 | 11.2% | 19.5% | ||
| Q2 24 | 14.3% | 16.3% | ||
| Q1 24 | 38.0% | 12.5% |
资本支出强度ACIWSHOP
| Q4 25 | 1.1% | 0.3% | ||
| Q3 25 | 0.7% | 0.2% | ||
| Q2 25 | 0.5% | 0.2% | ||
| Q1 25 | 0.5% | 0.2% | ||
| Q4 24 | 1.5% | 0.1% | ||
| Q3 24 | 0.8% | 0.1% | ||
| Q2 24 | 0.5% | 0.3% | ||
| Q1 24 | 1.0% | 0.3% |
现金转化率ACIWSHOP
| Q4 25 | 1.89× | 0.98× | ||
| Q3 25 | 0.80× | 1.94× | ||
| Q2 25 | 4.08× | 0.47× | ||
| Q1 25 | 1.33× | — | ||
| Q4 24 | 1.28× | 0.48× | ||
| Q3 24 | 0.66× | 0.51× | ||
| Q2 24 | 1.78× | 1.99× | ||
| Q1 24 | — | — |
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
ACIW
| Issuing And Acquiring | $183.7M | 38% |
| License | $158.3M | 33% |
| Maintenance | $50.8M | 11% |
| Software And Platform Service | $49.6M | 10% |
| Merchant Payments | $42.4M | 9% |
SHOP
| Services | $2.9B | 79% |
| Subscription And Circulation | $777.0M | 21% |
