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Enact Holdings, Inc.（ACT）与Waystar Holding Corp.（WAY）财务数据对比。点击上方公司名可切换其他公司
Waystar Holding Corp.的季度营收约是Enact Holdings, Inc.的1.0倍（$313.9M vs $312.7M），Waystar Holding Corp.同比增速更快（22.4% vs 3.6%），过去两年Waystar Holding Corp.的营收复合增速更高（15.7% 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。
Waystar Holding Corp是一家领先的医疗健康支付与营收周期管理解决方案提供商，服务覆盖美国各地的医疗机构、医疗系统和支付方，旗下工具可简化账单处理、理赔申请、患者缴费流程，帮助医疗机构降低行政负担、优化营收表现。
ACT vs WAY — 直观对比
营收规模更大
WAY
是对方的1.0倍
$312.7M
营收增速更快
WAY
高出18.8%
3.6%
两年增速更快
WAY
近两年复合增速
3.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $312.7M | $313.9M |
| 净利润 | — | $43.3M |
| 毛利率 | — | — |
| 营业利润率 | 71.3% | 25.6% |
| 净利率 | — | 13.8% |
| 营收同比 | 3.6% | 22.4% |
| 净利润同比 | — | 47.9% |
| 每股收益（稀释后） | $1.23 | $0.42 |
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ACTWAY
| Q1 26 | — | $313.9M | ||
| Q4 25 | $312.7M | $303.5M | ||
| Q3 25 | $311.5M | $268.7M | ||
| Q2 25 | $304.9M | $270.7M | ||
| Q1 25 | $306.8M | $256.4M | ||
| Q4 24 | $301.8M | $244.1M | ||
| Q3 24 | $309.6M | $240.1M | ||
| Q2 24 | $298.8M | $234.5M |
净利润ACTWAY
| Q1 26 | — | $43.3M | ||
| Q4 25 | — | $20.0M | ||
| Q3 25 | — | $30.6M | ||
| Q2 25 | — | $32.2M | ||
| Q1 25 | — | $29.3M | ||
| Q4 24 | — | $19.1M | ||
| Q3 24 | — | $5.4M | ||
| Q2 24 | — | $-27.7M |
营业利润率ACTWAY
| Q1 26 | — | 25.6% | ||
| Q4 25 | 71.3% | 19.4% | ||
| Q3 25 | 67.4% | 22.4% | ||
| Q2 25 | 70.4% | 24.0% | ||
| Q1 25 | 68.9% | 25.4% | ||
| Q4 24 | 68.9% | 21.8% | ||
| Q3 24 | 74.1% | 11.3% | ||
| Q2 24 | 78.6% | 3.5% |
净利率ACTWAY
| Q1 26 | — | 13.8% | ||
| Q4 25 | — | 6.6% | ||
| Q3 25 | — | 11.4% | ||
| Q2 25 | — | 11.9% | ||
| Q1 25 | — | 11.4% | ||
| Q4 24 | — | 7.8% | ||
| Q3 24 | — | 2.3% | ||
| Q2 24 | — | -11.8% |
每股收益（稀释后）ACTWAY
| Q1 26 | — | $0.42 | ||
| Q4 25 | $1.23 | $0.10 | ||
| Q3 25 | $1.10 | $0.17 | ||
| Q2 25 | $1.11 | $0.18 | ||
| Q1 25 | $1.08 | $0.16 | ||
| Q4 24 | $1.05 | $0.18 | ||
| Q3 24 | $1.15 | $0.03 | ||
| Q2 24 | $1.16 | $-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 | $582.5M | $34.3M |
| 总债务越低越好 | $744.5M | $13.5M |
| 股东权益账面价值 | $5.4B | $3.9B |
| 总资产 | $6.9B | $5.8B |
| 负债/权益比越低杠杆越低 | 0.14× | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资ACTWAY
| Q1 26 | — | $34.3M | ||
| Q4 25 | $582.5M | $61.4M | ||
| Q3 25 | $545.6M | $421.1M | ||
| Q2 25 | $616.0M | $290.3M | ||
| Q1 25 | $639.0M | $224.0M | ||
| Q4 24 | $602.8M | $182.1M | ||
| Q3 24 | $674.9M | $127.1M | ||
| Q2 24 | $711.3M | $68.4M |
总债务ACTWAY
| Q1 26 | — | $13.5M | ||
| Q4 25 | $744.5M | $1.5B | ||
| Q3 25 | $744.1M | — | ||
| Q2 25 | $743.8M | — | ||
| Q1 25 | $743.4M | — | ||
| Q4 24 | $743.0M | $1.2B | ||
| Q3 24 | $742.7M | — | ||
| Q2 24 | $742.4M | — |
股东权益ACTWAY
| Q1 26 | — | $3.9B | ||
| Q4 25 | $5.4B | $3.9B | ||
| Q3 25 | $5.3B | $3.2B | ||
| Q2 25 | $5.2B | $3.2B | ||
| Q1 25 | $5.1B | $3.1B | ||
| Q4 24 | $5.0B | $3.1B | ||
| Q3 24 | $5.0B | $3.1B | ||
| Q2 24 | $4.8B | $2.9B |
总资产ACTWAY
| Q1 26 | — | $5.8B | ||
| Q4 25 | $6.9B | $5.8B | ||
| Q3 25 | $6.9B | $4.7B | ||
| Q2 25 | $6.8B | $4.7B | ||
| Q1 25 | $6.7B | $4.6B | ||
| Q4 24 | $6.5B | $4.6B | ||
| Q3 24 | $6.6B | $4.5B | ||
| Q2 24 | $6.3B | $4.6B |
负债/权益比ACTWAY
| Q1 26 | — | 0.00× | ||
| Q4 25 | 0.14× | 0.38× | ||
| Q3 25 | 0.14× | — | ||
| Q2 25 | 0.14× | — | ||
| Q1 25 | 0.15× | — | ||
| Q4 24 | 0.15× | 0.40× | ||
| Q3 24 | 0.15× | — | ||
| Q2 24 | 0.15× | — |
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 | $84.9M |
| 自由现金流经营现金流 - 资本支出 | — | $90.3M |
| 自由现金流率自由现金流/营收 | — | 28.8% |
| 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 | — | 1.96× |
| 过去12个月自由现金流最近4个季度 | — | $314.6M |
8季度趋势，按日历期对齐
经营现金流ACTWAY
| Q1 26 | — | $84.9M | ||
| Q4 25 | $724.5M | $66.6M | ||
| Q3 25 | $192.0M | $82.0M | ||
| Q2 25 | $119.5M | $96.8M | ||
| Q1 25 | $226.7M | $64.2M | ||
| Q4 24 | $686.3M | — | ||
| Q3 24 | $188.1M | $78.8M | ||
| Q2 24 | $144.7M | $15.4M |
自由现金流ACTWAY
| Q1 26 | — | $90.3M | ||
| Q4 25 | — | $57.2M | ||
| Q3 25 | — | $76.2M | ||
| Q2 25 | — | $91.0M | ||
| Q1 25 | — | $58.8M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $70.2M | ||
| Q2 24 | — | $8.6M |
自由现金流率ACTWAY
| Q1 26 | — | 28.8% | ||
| Q4 25 | — | 18.9% | ||
| Q3 25 | — | 28.3% | ||
| Q2 25 | — | 33.6% | ||
| Q1 25 | — | 22.9% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 29.2% | ||
| Q2 24 | — | 3.7% |
资本支出强度ACTWAY
| Q1 26 | — | — | ||
| Q4 25 | — | 3.1% | ||
| Q3 25 | — | 2.2% | ||
| Q2 25 | — | 2.1% | ||
| Q1 25 | — | 2.1% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 3.6% | ||
| Q2 24 | — | 2.9% |
现金转化率ACTWAY
| Q1 26 | — | 1.96× | ||
| Q4 25 | — | 3.33× | ||
| Q3 25 | — | 2.68× | ||
| Q2 25 | — | 3.01× | ||
| Q1 25 | — | 2.20× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 14.56× | ||
| Q2 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
WAY
| Subscription | $172.2M | 55% |
| Volume-based | $139.5M | 44% |
