vs
Enact Holdings, Inc.（ACT）与INNOVATE Corp.（VATE）财务数据对比。点击上方公司名可切换其他公司
INNOVATE Corp.的季度营收约是Enact Holdings, Inc.的1.2倍（$382.7M vs $312.7M），INNOVATE Corp.同比增速更快（61.7% vs 3.6%），过去两年INNOVATE Corp.的营收复合增速更高（10.2% vs 3.6%）
Enact Holdings, Inc.是美国领先的私人抵押贷款保险服务商，为银行、信用社等各类住宅抵押贷款机构提供风险缓释解决方案，帮助首付较低的购房者获得可负担的住房贷款，助力更多美国普通消费者实现安居需求。
创新公司（Innovate Corp.）是一家美国上市金融服务企业，创立于1994年，深耕金融服务领域，面向市场提供多元专业金融相关服务，是美国本土具备多年运营经验的公众金融服务机构。
ACT vs VATE — 直观对比
营收规模更大
VATE
是对方的1.2倍
$312.7M
营收增速更快
VATE
高出58.1%
3.6%
两年增速更快
VATE
近两年复合增速
3.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $312.7M | $382.7M |
| 净利润 | — | $-7.4M |
| 毛利率 | — | 15.4% |
| 营业利润率 | 71.3% | 3.7% |
| 净利率 | — | -1.9% |
| 营收同比 | 3.6% | 61.7% |
| 净利润同比 | — | 55.4% |
| 每股收益（稀释后） | $1.23 | $-0.57 |
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ACTVATE
| Q4 25 | $312.7M | $382.7M | ||
| Q3 25 | $311.5M | $347.1M | ||
| Q2 25 | $304.9M | $242.0M | ||
| Q1 25 | $306.8M | $274.2M | ||
| Q4 24 | $301.8M | $236.6M | ||
| Q3 24 | $309.6M | $242.2M | ||
| Q2 24 | $298.8M | $313.1M | ||
| Q1 24 | $291.6M | $315.2M |
净利润ACTVATE
| Q4 25 | — | $-7.4M | ||
| Q3 25 | — | $-8.9M | ||
| Q2 25 | — | $-19.8M | ||
| Q1 25 | — | $-24.5M | ||
| Q4 24 | — | $-16.6M | ||
| Q3 24 | — | $-15.0M | ||
| Q2 24 | — | $14.4M | ||
| Q1 24 | — | $-17.4M |
毛利率ACTVATE
| Q4 25 | — | 15.4% | ||
| Q3 25 | — | 14.3% | ||
| Q2 25 | — | 18.8% | ||
| Q1 25 | — | 16.6% | ||
| Q4 24 | — | 19.6% | ||
| Q3 24 | — | 19.9% | ||
| Q2 24 | — | 21.0% | ||
| Q1 24 | — | 15.4% |
营业利润率ACTVATE
| Q4 25 | 71.3% | 3.7% | ||
| Q3 25 | 67.4% | 1.8% | ||
| Q2 25 | 70.4% | 2.0% | ||
| Q1 25 | 68.9% | 1.2% | ||
| Q4 24 | 68.9% | 1.1% | ||
| Q3 24 | 74.1% | 2.4% | ||
| Q2 24 | 78.6% | 9.2% | ||
| Q1 24 | 70.6% | 0.9% |
净利率ACTVATE
| Q4 25 | — | -1.9% | ||
| Q3 25 | — | -2.6% | ||
| Q2 25 | — | -8.2% | ||
| Q1 25 | — | -8.9% | ||
| Q4 24 | — | -7.0% | ||
| Q3 24 | — | -6.2% | ||
| Q2 24 | — | 4.6% | ||
| Q1 24 | — | -5.5% |
每股收益（稀释后）ACTVATE
| Q4 25 | $1.23 | $-0.57 | ||
| Q3 25 | $1.10 | $-0.71 | ||
| Q2 25 | $1.11 | $-1.67 | ||
| Q1 25 | $1.08 | $-1.89 | ||
| Q4 24 | $1.05 | $-0.72 | ||
| Q3 24 | $1.15 | $-1.18 | ||
| Q2 24 | $1.16 | $1.03 | ||
| Q1 24 | $1.01 | $-2.21 |
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 | $582.5M | $112.1M |
| 总债务越低越好 | $744.5M | $80.3M |
| 股东权益账面价值 | $5.4B | $-240.1M |
| 总资产 | $6.9B | $950.1M |
| 负债/权益比越低杠杆越低 | 0.14× | — |
8季度趋势，按日历期对齐
现金及短期投资ACTVATE
| Q4 25 | $582.5M | $112.1M | ||
| Q3 25 | $545.6M | $35.5M | ||
| Q2 25 | $616.0M | $33.4M | ||
| Q1 25 | $639.0M | $33.3M | ||
| Q4 24 | $602.8M | $48.8M | ||
| Q3 24 | $674.9M | $51.0M | ||
| Q2 24 | $711.3M | $80.2M | ||
| Q1 24 | $624.3M | $38.4M |
总债务ACTVATE
| Q4 25 | $744.5M | $80.3M | ||
| Q3 25 | $744.1M | $97.3M | ||
| Q2 25 | $743.8M | $160.1M | ||
| Q1 25 | $743.4M | $139.9M | ||
| Q4 24 | $743.0M | $500.6M | ||
| Q3 24 | $742.7M | $502.4M | ||
| Q2 24 | $742.4M | $638.3M | ||
| Q1 24 | $746.1M | $641.5M |
股东权益ACTVATE
| Q4 25 | $5.4B | $-240.1M | ||
| Q3 25 | $5.3B | $-233.3M | ||
| Q2 25 | $5.2B | $-224.8M | ||
| Q1 25 | $5.1B | $-204.2M | ||
| Q4 24 | $5.0B | $-180.4M | ||
| Q3 24 | $5.0B | $-163.1M | ||
| Q2 24 | $4.8B | $-149.0M | ||
| Q1 24 | $4.7B | $-184.4M |
总资产ACTVATE
| Q4 25 | $6.9B | $950.1M | ||
| Q3 25 | $6.9B | $913.2M | ||
| Q2 25 | $6.8B | $890.9M | ||
| Q1 25 | $6.7B | $868.0M | ||
| Q4 24 | $6.5B | $891.1M | ||
| Q3 24 | $6.6B | $897.2M | ||
| Q2 24 | $6.3B | $898.9M | ||
| Q1 24 | $6.3B | $943.5M |
负债/权益比ACTVATE
| Q4 25 | 0.14× | — | ||
| Q3 25 | 0.14× | — | ||
| Q2 25 | 0.14× | — | ||
| Q1 25 | 0.15× | — | ||
| Q4 24 | 0.15× | — | ||
| Q3 24 | 0.15× | — | ||
| Q2 24 | 0.15× | — | ||
| Q1 24 | 0.16× | — |
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 | $724.5M | $101.1M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | — | — |
| 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ACTVATE
| Q4 25 | $724.5M | $101.1M | ||
| Q3 25 | $192.0M | $19.2M | ||
| Q2 25 | $119.5M | $40.4M | ||
| Q1 25 | $226.7M | $-14.1M | ||
| Q4 24 | $686.3M | $41.4M | ||
| Q3 24 | $188.1M | $-28.4M | ||
| Q2 24 | $144.7M | $21.5M | ||
| Q1 24 | $187.3M | $-25.4M |
自由现金流ACTVATE
| Q4 25 | — | — | ||
| Q3 25 | — | $19.0M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $-18.8M | ||
| Q4 24 | — | $34.2M | ||
| Q3 24 | — | $-31.5M | ||
| Q2 24 | — | $18.4M | ||
| Q1 24 | — | $-31.0M |
自由现金流率ACTVATE
| Q4 25 | — | — | ||
| Q3 25 | — | 5.5% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -6.9% | ||
| Q4 24 | — | 14.5% | ||
| Q3 24 | — | -13.0% | ||
| Q2 24 | — | 5.9% | ||
| Q1 24 | — | -9.8% |
资本支出强度ACTVATE
| Q4 25 | — | — | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 1.7% | ||
| Q4 24 | — | 3.0% | ||
| Q3 24 | — | 1.3% | ||
| Q2 24 | — | 1.0% | ||
| Q1 24 | — | 1.8% |
现金转化率ACTVATE
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 1.49× | ||
| 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
ACT
暂无分部数据
VATE
| Commercial Revenue | $126.1M | 33% |
| Industrial Revenue | $87.5M | 23% |
| Transportation Revenue | $58.4M | 15% |
| Healthcare Revenue | $48.4M | 13% |
| Government Revenue | $44.3M | 12% |
| Energy Revenue | $8.0M | 2% |
| Broadcast Station Revenue | $5.7M | 1% |
| Systems And Consumables Revenue | $3.1M | 1% |
| Leisure Revenue | $200.0K | 0% |
