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ACV Auctions Inc.（ACVA）与PATHWARD FINANCIAL, INC.（CASH）财务数据对比。点击上方公司名可切换其他公司
PATHWARD FINANCIAL, INC.的季度营收约是ACV Auctions Inc.的1.5倍（$276.3M vs $183.6M），过去两年PATHWARD FINANCIAL, INC.的营收复合增速更高（21.0% vs 12.3%）
ACV Auctions Inc.是北美领先的数字化二手车批发拍卖平台，主要服务美加两地汽车经销商，提供车辆透明检测、安全支付、物流配送等全链条服务，助力注册批发买卖双方无需线下到场即可高效完成二手车交易。
Pathward Financial, Inc.是一家总部位于美国的银行及金融服务企业，其前身为Meta金融集团旗下相关业务主体，2022年母公司将“Meta”商标出售给Meta Platforms后，正式启用现有名称。
ACVA vs CASH — 直观对比
营收规模更大
CASH
是对方的1.5倍
$183.6M
两年增速更快
CASH
近两年复合增速
12.3%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $183.6M | $276.3M |
| 净利润 | — | $72.9M |
| 毛利率 | — | — |
| 营业利润率 | -9.7% | — |
| 净利率 | — | 26.4% |
| 营收同比 | 15.1% | — |
| 净利润同比 | — | — |
| 每股收益（稀释后） | $-0.12 | $3.35 |
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ACVACASH
| Q1 26 | — | $276.3M | ||
| Q4 25 | $183.6M | $173.1M | ||
| Q3 25 | $199.6M | $186.7M | ||
| Q2 25 | $193.7M | $195.8M | ||
| Q1 25 | $182.7M | $274.8M | ||
| Q4 24 | $159.5M | $182.6M | ||
| Q3 24 | $171.3M | $179.5M | ||
| Q2 24 | $160.6M | $188.6M |
净利润ACVACASH
| Q1 26 | — | $72.9M | ||
| Q4 25 | — | $35.2M | ||
| Q3 25 | $-24.5M | $38.8M | ||
| Q2 25 | $-7.3M | $42.1M | ||
| Q1 25 | $-14.8M | $75.0M | ||
| Q4 24 | — | $30.0M | ||
| Q3 24 | $-16.0M | $33.5M | ||
| Q2 24 | $-17.1M | $44.9M |
营业利润率ACVACASH
| Q1 26 | — | — | ||
| Q4 25 | -9.7% | 24.6% | ||
| Q3 25 | -11.9% | 25.9% | ||
| Q2 25 | -3.7% | 24.1% | ||
| Q1 25 | -7.9% | 33.2% | ||
| Q4 24 | -16.2% | 19.8% | ||
| Q3 24 | -10.0% | 20.9% | ||
| Q2 24 | -11.6% | 27.1% |
净利率ACVACASH
| Q1 26 | — | 26.4% | ||
| Q4 25 | — | 20.3% | ||
| Q3 25 | -12.3% | 20.8% | ||
| Q2 25 | -3.8% | 21.5% | ||
| Q1 25 | -8.1% | 27.3% | ||
| Q4 24 | — | 16.4% | ||
| Q3 24 | -9.4% | 18.7% | ||
| Q2 24 | -10.6% | 23.8% |
每股收益（稀释后）ACVACASH
| Q1 26 | — | $3.35 | ||
| Q4 25 | $-0.12 | $1.57 | ||
| Q3 25 | $-0.14 | $1.69 | ||
| Q2 25 | $-0.04 | $1.81 | ||
| Q1 25 | $-0.09 | $3.14 | ||
| Q4 24 | $-0.15 | $1.23 | ||
| Q3 24 | $-0.10 | $1.34 | ||
| Q2 24 | $-0.10 | $1.78 |
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 | $271.5M | $157.6M |
| 总债务越低越好 | — | $59.5M |
| 股东权益账面价值 | $429.7M | $850.7M |
| 总资产 | $1.1B | $7.1B |
| 负债/权益比越低杠杆越低 | — | 0.07× |
8季度趋势，按日历期对齐
现金及短期投资ACVACASH
| Q1 26 | — | $157.6M | ||
| Q4 25 | $271.5M | $331.2M | ||
| Q3 25 | $265.3M | $120.6M | ||
| Q2 25 | $258.4M | $258.3M | ||
| Q1 25 | $291.9M | $254.2M | ||
| Q4 24 | $224.1M | $597.4M | ||
| Q3 24 | $252.5M | $158.3M | ||
| Q2 24 | $215.0M | $298.9M |
总债务ACVACASH
| Q1 26 | — | $59.5M | ||
| Q4 25 | — | $33.5M | ||
| Q3 25 | — | $33.5M | ||
| Q2 25 | — | $33.4M | ||
| Q1 25 | — | $33.4M | ||
| Q4 24 | — | $33.4M | ||
| Q3 24 | — | $33.4M | ||
| Q2 24 | — | $33.3M |
股东权益ACVACASH
| Q1 26 | — | $850.7M | ||
| Q4 25 | $429.7M | $854.5M | ||
| Q3 25 | $434.4M | $858.0M | ||
| Q2 25 | $448.8M | $819.0M | ||
| Q1 25 | $439.6M | $814.7M | ||
| Q4 24 | $440.0M | $758.3M | ||
| Q3 24 | $456.2M | $822.5M | ||
| Q2 24 | $457.6M | $748.4M |
总资产ACVACASH
| Q1 26 | — | $7.1B | ||
| Q4 25 | $1.1B | $7.6B | ||
| Q3 25 | $1.2B | $7.2B | ||
| Q2 25 | $1.1B | $7.2B | ||
| Q1 25 | $1.2B | $7.0B | ||
| Q4 24 | $984.1M | $7.6B | ||
| Q3 24 | $1.0B | $7.5B | ||
| Q2 24 | $1.0B | $7.5B |
负债/权益比ACVACASH
| Q1 26 | — | 0.07× | ||
| Q4 25 | — | 0.04× | ||
| Q3 25 | — | 0.04× | ||
| Q2 25 | — | 0.04× | ||
| Q1 25 | — | 0.04× | ||
| Q4 24 | — | 0.04× | ||
| Q3 24 | — | 0.04× | ||
| Q2 24 | — | 0.04× |
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 | $-12.4M | — |
| 自由现金流经营现金流 - 资本支出 | $-14.7M | — |
| 自由现金流率自由现金流/营收 | -8.0% | — |
| 资本支出强度资本支出/营收 | 1.2% | — |
| 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 | $69.1M | — |
8季度趋势，按日历期对齐
经营现金流ACVACASH
| Q1 26 | — | — | ||
| Q4 25 | $-12.4M | $108.3M | ||
| Q3 25 | $10.3M | $303.7M | ||
| Q2 25 | $13.7M | $30.4M | ||
| Q1 25 | $66.6M | $188.3M | ||
| Q4 24 | $-3.2M | $-71.7M | ||
| Q3 24 | $21.1M | $143.1M | ||
| Q2 24 | $4.5M | $113.2M |
自由现金流ACVACASH
| Q1 26 | — | — | ||
| Q4 25 | $-14.7M | $104.1M | ||
| Q3 25 | $7.7M | $300.3M | ||
| Q2 25 | $10.9M | $27.7M | ||
| Q1 25 | $65.3M | $184.7M | ||
| Q4 24 | $-3.9M | $-73.8M | ||
| Q3 24 | $20.2M | $138.8M | ||
| Q2 24 | $2.7M | $111.0M |
自由现金流率ACVACASH
| Q1 26 | — | — | ||
| Q4 25 | -8.0% | 60.1% | ||
| Q3 25 | 3.8% | 160.9% | ||
| Q2 25 | 5.6% | 14.1% | ||
| Q1 25 | 35.7% | 67.2% | ||
| Q4 24 | -2.5% | -40.4% | ||
| Q3 24 | 11.8% | 77.3% | ||
| Q2 24 | 1.7% | 58.8% |
资本支出强度ACVACASH
| Q1 26 | — | — | ||
| Q4 25 | 1.2% | 2.4% | ||
| Q3 25 | 1.3% | 1.8% | ||
| Q2 25 | 1.5% | 1.4% | ||
| Q1 25 | 0.7% | 1.3% | ||
| Q4 24 | 0.4% | 1.1% | ||
| Q3 24 | 0.6% | 2.4% | ||
| Q2 24 | 1.1% | 1.2% |
现金转化率ACVACASH
| Q1 26 | — | — | ||
| Q4 25 | — | 3.08× | ||
| Q3 25 | — | 7.83× | ||
| Q2 25 | — | 0.72× | ||
| Q1 25 | — | 2.51× | ||
| Q4 24 | — | -2.39× | ||
| Q3 24 | — | 4.27× | ||
| Q2 24 | — | 2.52× |
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
ACVA
| Auction Marketplace Revenue | $77.6M | 42% |
| Other Marketplace Revenue | $72.4M | 39% |
| Customer Assurance | $24.1M | 13% |
| Data Services Revenue | $9.4M | 5% |
CASH
| Noninterest Income | $151.2M | 55% |
| Net Interest Income | $125.1M | 45% |
