vs
Armada Hoffler Properties, Inc.（AHH）与Repay Holdings Corp（RPAY）财务数据对比。点击上方公司名可切换其他公司
Repay Holdings Corp的季度营收约是Armada Hoffler Properties, Inc.的1.0倍（$78.6M vs $75.6M），Armada Hoffler Properties, Inc.净利率更高（3.1% vs -178.3%，领先181.4%），Armada Hoffler Properties, Inc.同比增速更快（0.8% vs 0.4%），过去两年Repay Holdings Corp的营收复合增速更高（-1.3% vs -22.8%）
Armada Hoffler Properties是一家公开上市的房地产投资信托，业务覆盖美国大西洋中部及东南部地区，开发、持有并运营涵盖办公、零售、多户住宅的多元化优质物业组合，同时为第三方客户提供全链条建筑开发服务。
Repay Holdings Corp是一家聚焦北美市场的支付技术服务商，为零售、医疗、汽车服务、电商等领域的企业提供整合支付处理方案，涵盖银行卡收单、ACH转账、POS系统集成等数字化支付工具，助力客户简化交易流程、提升运营效率。
AHH vs RPAY — 直观对比
营收规模更大
RPAY
是对方的1.0倍
$75.6M
营收增速更快
AHH
高出0.4%
0.4%
净利率更高
AHH
高出181.4%
-178.3%
两年增速更快
RPAY
近两年复合增速
-22.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $75.6M | $78.6M |
| 净利润 | $2.4M | $-140.1M |
| 毛利率 | — | 74.2% |
| 营业利润率 | 31.0% | -182.2% |
| 净利率 | 3.1% | -178.3% |
| 营收同比 | 0.8% | 0.4% |
| 净利润同比 | -89.8% | -3304.1% |
| 每股收益（稀释后） | $0.00 | $-1.68 |
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AHHRPAY
| Q4 25 | $75.6M | $78.6M | ||
| Q3 25 | $72.7M | $77.7M | ||
| Q2 25 | $69.1M | $75.6M | ||
| Q1 25 | $67.8M | $77.3M | ||
| Q4 24 | $75.0M | $78.3M | ||
| Q3 24 | $114.4M | $79.1M | ||
| Q2 24 | $116.8M | $74.9M | ||
| Q1 24 | $127.0M | $80.7M |
净利润AHHRPAY
| Q4 25 | $2.4M | $-140.1M | ||
| Q3 25 | $80.0K | $-6.4M | ||
| Q2 25 | $5.9M | $-102.3M | ||
| Q1 25 | $-2.8M | $-7.9M | ||
| Q4 24 | $23.4M | $-4.1M | ||
| Q3 24 | $-5.0M | $3.2M | ||
| Q2 24 | $3.2M | $-4.1M | ||
| Q1 24 | $14.1M | $-5.2M |
毛利率AHHRPAY
| Q4 25 | — | 74.2% | ||
| Q3 25 | — | 74.4% | ||
| Q2 25 | — | 75.7% | ||
| Q1 25 | — | 75.9% | ||
| Q4 24 | — | 76.3% | ||
| Q3 24 | 45.0% | 77.8% | ||
| Q2 24 | 41.8% | 78.2% | ||
| Q1 24 | 37.9% | 76.2% |
营业利润率AHHRPAY
| Q4 25 | 31.0% | -182.2% | ||
| Q3 25 | 29.2% | -3.9% | ||
| Q2 25 | 29.6% | -138.7% | ||
| Q1 25 | 23.2% | -4.7% | ||
| Q4 24 | 50.1% | -1.5% | ||
| Q3 24 | 19.0% | -0.9% | ||
| Q2 24 | 11.9% | -4.6% | ||
| Q1 24 | 15.1% | -3.1% |
净利率AHHRPAY
| Q4 25 | 3.1% | -178.3% | ||
| Q3 25 | 0.1% | -8.3% | ||
| Q2 25 | 8.6% | -135.2% | ||
| Q1 25 | -4.1% | -10.3% | ||
| Q4 24 | 31.2% | -5.3% | ||
| Q3 24 | -4.4% | 4.1% | ||
| Q2 24 | 2.7% | -5.4% | ||
| Q1 24 | 11.1% | -6.5% |
每股收益（稀释后）AHHRPAY
| Q4 25 | $0.00 | $-1.68 | ||
| Q3 25 | $-0.04 | $-0.08 | ||
| Q2 25 | $0.04 | $-1.15 | ||
| Q1 25 | $-0.07 | $-0.09 | ||
| Q4 24 | $0.28 | $-0.04 | ||
| Q3 24 | $-0.11 | $0.03 | ||
| Q2 24 | $0.00 | $-0.04 | ||
| Q1 24 | $0.17 | $-0.06 |
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 | $49.1M | $115.7M |
| 总债务越低越好 | $1.5B | $280.1M |
| 股东权益账面价值 | $627.8M | $484.4M |
| 总资产 | $2.6B | $1.2B |
| 负债/权益比越低杠杆越低 | 2.43× | 0.58× |
8季度趋势，按日历期对齐
现金及短期投资AHHRPAY
| Q4 25 | $49.1M | $115.7M | ||
| Q3 25 | $46.5M | $95.7M | ||
| Q2 25 | $52.1M | $162.6M | ||
| Q1 25 | $45.7M | $165.5M | ||
| Q4 24 | $31.9M | $189.5M | ||
| Q3 24 | $43.9M | $168.7M | ||
| Q2 24 | $20.3M | $147.1M | ||
| Q1 24 | $41.9M | $128.3M |
总债务AHHRPAY
| Q4 25 | $1.5B | $280.1M | ||
| Q3 25 | $1.5B | $279.5M | ||
| Q2 25 | $1.4B | $279.0M | ||
| Q1 25 | $1.3B | $497.6M | ||
| Q4 24 | $1.3B | $496.8M | ||
| Q3 24 | $1.3B | $496.2M | ||
| Q2 24 | $1.4B | $435.6M | ||
| Q1 24 | $1.4B | $434.9M |
股东权益AHHRPAY
| Q4 25 | $627.8M | $484.4M | ||
| Q3 25 | $638.8M | $616.9M | ||
| Q2 25 | $652.0M | $633.7M | ||
| Q1 25 | $657.4M | $755.7M | ||
| Q4 24 | $670.6M | $761.3M | ||
| Q3 24 | $663.9M | $754.7M | ||
| Q2 24 | $562.7M | $815.4M | ||
| Q1 24 | $571.4M | $813.8M |
总资产AHHRPAY
| Q4 25 | $2.6B | $1.2B | ||
| Q3 25 | $2.6B | $1.3B | ||
| Q2 25 | $2.6B | $1.4B | ||
| Q1 25 | $2.5B | $1.5B | ||
| Q4 24 | $2.5B | $1.6B | ||
| Q3 24 | $2.6B | $1.6B | ||
| Q2 24 | $2.6B | $1.5B | ||
| Q1 24 | $2.6B | $1.5B |
负债/权益比AHHRPAY
| Q4 25 | 2.43× | 0.58× | ||
| Q3 25 | 2.33× | 0.45× | ||
| Q2 25 | 2.22× | 0.44× | ||
| Q1 25 | 2.01× | 0.66× | ||
| Q4 24 | 1.93× | 0.65× | ||
| Q3 24 | 2.00× | 0.66× | ||
| Q2 24 | 2.52× | 0.53× | ||
| Q1 24 | 2.50× | 0.53× |
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 | $64.2M | $23.3M |
| 自由现金流经营现金流 - 资本支出 | — | $23.2M |
| 自由现金流率自由现金流/营收 | — | 29.6% |
| 资本支出强度资本支出/营收 | — | 0.1% |
| 现金转化率经营现金流/净利润 | 26.99× | — |
| 过去12个月自由现金流最近4个季度 | — | $90.7M |
8季度趋势，按日历期对齐
经营现金流AHHRPAY
| Q4 25 | $64.2M | $23.3M | ||
| Q3 25 | $26.3M | $32.2M | ||
| Q2 25 | $11.1M | $33.1M | ||
| Q1 25 | $107.0K | $2.5M | ||
| Q4 24 | $112.0M | $34.3M | ||
| Q3 24 | $27.3M | $60.1M | ||
| Q2 24 | $17.4M | $31.0M | ||
| Q1 24 | $46.5M | $24.8M |
自由现金流AHHRPAY
| Q4 25 | — | $23.2M | ||
| Q3 25 | — | $32.1M | ||
| Q2 25 | — | $33.0M | ||
| Q1 25 | — | $2.4M | ||
| Q4 24 | — | $34.0M | ||
| Q3 24 | — | $59.8M | ||
| Q2 24 | — | $30.5M | ||
| Q1 24 | — | $24.7M |
自由现金流率AHHRPAY
| Q4 25 | — | 29.6% | ||
| Q3 25 | — | 41.3% | ||
| Q2 25 | — | 43.6% | ||
| Q1 25 | — | 3.0% | ||
| Q4 24 | — | 43.5% | ||
| Q3 24 | — | 75.6% | ||
| Q2 24 | — | 40.7% | ||
| Q1 24 | — | 30.6% |
资本支出强度AHHRPAY
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 0.2% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | — | 0.3% | ||
| Q3 24 | — | 0.3% | ||
| Q2 24 | — | 0.6% | ||
| Q1 24 | — | 0.1% |
现金转化率AHHRPAY
| Q4 25 | 26.99× | — | ||
| Q3 25 | 328.63× | — | ||
| Q2 25 | 1.87× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 4.78× | — | ||
| Q3 24 | — | 18.52× | ||
| Q2 24 | 5.48× | — | ||
| Q1 24 | 3.30× | — |
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
AHH
| Office Real Estate Segment | $28.8M | 38% |
| Retail Real Estate Segment | $25.4M | 34% |
| Multifamily Residential Real Estate | $17.7M | 23% |
| Real Estate Financing Segment | $3.6M | 5% |
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
