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C3.ai, Inc.（AI）与UiPath, Inc.（PATH）财务数据对比。点击上方公司名可切换其他公司
UiPath, Inc.的季度营收约是C3.ai, Inc.的5.5倍（$411.1M vs $75.1M），UiPath, Inc.净利率更高（48.4% vs -139.3%，领先187.7%），UiPath, Inc.同比增速更快（15.9% vs -20.3%），UiPath, Inc.自由现金流更多（$25.1M vs $-46.9M），过去两年UiPath, Inc.的营收复合增速更高（0.7% vs -2.1%）
C3.ai是全球领先的企业级人工智能软件供应商，主要开发销售可扩展的AI应用、平台工具及垂直行业定制解决方案，服务覆盖制造、能源、金融、医疗、公共部门等领域，助力客户优化运营、降本增效、管控风险，实现数据驱动的业务决策。
UiPath是一家全球化软件企业，专注于开发人工智能、智能自动化及流程编排类软件，其产品支持用户搭建与调度AI代理，实现复杂业务流程、工作流的自动化运行，助力各行业客户提升运营效率、降低人力成本。
AI vs PATH — 直观对比
营收规模更大
PATH
是对方的5.5倍
$75.1M
营收增速更快
PATH
高出36.3%
-20.3%
净利率更高
PATH
高出187.7%
-139.3%
自由现金流更多
PATH
多$72.0M
$-46.9M
两年增速更快
PATH
近两年复合增速
-2.1%
损益表 — Q2 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $75.1M | $411.1M |
| 净利润 | $-104.7M | $198.8M |
| 毛利率 | 40.4% | 83.3% |
| 营业利润率 | -149.2% | 3.2% |
| 净利率 | -139.3% | 48.4% |
| 营收同比 | -20.3% | 15.9% |
| 净利润同比 | -58.7% | 1966.2% |
| 每股收益（稀释后） | $-0.75 | $0.37 |
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AIPATH
| Q4 25 | $75.1M | $411.1M | ||
| Q3 25 | $70.3M | $361.7M | ||
| Q2 25 | $108.7M | $356.6M | ||
| Q1 25 | $98.8M | $423.6M | ||
| Q4 24 | $94.3M | $354.7M | ||
| Q3 24 | $87.2M | $316.3M | ||
| Q2 24 | $86.6M | $335.1M | ||
| Q1 24 | $78.4M | $405.3M |
净利润AIPATH
| Q4 25 | $-104.7M | $198.8M | ||
| Q3 25 | $-116.8M | $1.6M | ||
| Q2 25 | $-79.7M | $-22.6M | ||
| Q1 25 | $-80.2M | $51.8M | ||
| Q4 24 | $-66.0M | $-10.7M | ||
| Q3 24 | $-62.8M | $-86.1M | ||
| Q2 24 | $-72.9M | $-28.7M | ||
| Q1 24 | $-72.6M | $33.9M |
毛利率AIPATH
| Q4 25 | 40.4% | 83.3% | ||
| Q3 25 | 37.6% | 82.2% | ||
| Q2 25 | 62.1% | 82.1% | ||
| Q1 25 | 59.1% | 84.8% | ||
| Q4 24 | 61.3% | 82.0% | ||
| Q3 24 | 59.8% | 80.0% | ||
| Q2 24 | 59.6% | 83.5% | ||
| Q1 24 | 57.8% | 86.8% |
营业利润率AIPATH
| Q4 25 | -149.2% | 3.2% | ||
| Q3 25 | -177.7% | -5.6% | ||
| Q2 25 | -81.8% | -4.6% | ||
| Q1 25 | -88.7% | 7.9% | ||
| Q4 24 | -79.8% | -12.2% | ||
| Q3 24 | -83.2% | -32.7% | ||
| Q2 24 | -95.1% | -14.8% | ||
| Q1 24 | -105.3% | 3.7% |
净利率AIPATH
| Q4 25 | -139.3% | 48.4% | ||
| Q3 25 | -166.2% | 0.4% | ||
| Q2 25 | -73.3% | -6.3% | ||
| Q1 25 | -81.2% | 12.2% | ||
| Q4 24 | -69.9% | -3.0% | ||
| Q3 24 | -72.0% | -27.2% | ||
| Q2 24 | -84.2% | -8.6% | ||
| Q1 24 | -92.6% | 8.4% |
每股收益（稀释后）AIPATH
| Q4 25 | $-0.75 | $0.37 | ||
| Q3 25 | $-0.86 | $0.00 | ||
| Q2 25 | $-0.60 | $-0.04 | ||
| Q1 25 | $-0.62 | $0.09 | ||
| Q4 24 | $-0.52 | $-0.02 | ||
| Q3 24 | $-0.50 | $-0.15 | ||
| Q2 24 | $-0.59 | $-0.05 | ||
| Q1 24 | $-0.60 | $0.07 |
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 | $675.0M | $1.4B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $771.9M | $1.9B |
| 总资产 | $961.3M | $2.9B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资AIPATH
| Q4 25 | $675.0M | $1.4B | ||
| Q3 25 | $711.9M | $1.4B | ||
| Q2 25 | $742.7M | $1.6B | ||
| Q1 25 | $724.3M | $1.6B | ||
| Q4 24 | $730.4M | $1.6B | ||
| Q3 24 | $762.5M | $1.7B | ||
| Q2 24 | $750.4M | $1.9B | ||
| Q1 24 | $723.3M | $1.9B |
股东权益AIPATH
| Q4 25 | $771.9M | $1.9B | ||
| Q3 25 | $798.8M | $1.7B | ||
| Q2 25 | $838.3M | $1.7B | ||
| Q1 25 | $860.2M | $1.8B | ||
| Q4 24 | $859.0M | $1.7B | ||
| Q3 24 | $874.9M | $1.8B | ||
| Q2 24 | $873.4M | $2.0B | ||
| Q1 24 | $898.0M | $2.0B |
总资产AIPATH
| Q4 25 | $961.3M | $2.9B | ||
| Q3 25 | $968.7M | $2.6B | ||
| Q2 25 | $1.0B | $2.6B | ||
| Q1 25 | $1.1B | $2.9B | ||
| Q4 24 | $1.0B | $2.7B | ||
| Q3 24 | $1.1B | $2.7B | ||
| Q2 24 | $1.0B | $2.8B | ||
| Q1 24 | $1.1B | $3.0B |
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 | $-46.5M | $28.3M |
| 自由现金流经营现金流 - 资本支出 | $-46.9M | $25.1M |
| 自由现金流率自由现金流/营收 | -62.4% | 6.1% |
| 资本支出强度资本支出/营收 | 0.5% | 0.8% |
| 现金转化率经营现金流/净利润 | — | 0.14× |
| 过去12个月自由现金流最近4个季度 | $-93.2M | — |
8季度趋势，按日历期对齐
经营现金流AIPATH
| Q4 25 | $-46.5M | $28.3M | ||
| Q3 25 | $-33.5M | $41.6M | ||
| Q2 25 | $11.3M | $119.0M | ||
| Q1 25 | $-22.0M | $146.1M | ||
| Q4 24 | $-38.7M | $28.1M | ||
| Q3 24 | $8.0M | $46.4M | ||
| Q2 24 | $21.3M | $100.0M | ||
| Q1 24 | $-39.1M | $145.6M |
自由现金流AIPATH
| Q4 25 | $-46.9M | $25.1M | ||
| Q3 25 | $-34.3M | — | ||
| Q2 25 | $10.3M | $106.2M | ||
| Q1 25 | $-22.4M | $138.7M | ||
| Q4 24 | $-39.5M | $23.2M | ||
| Q3 24 | $7.1M | $45.0M | ||
| Q2 24 | $18.8M | $98.8M | ||
| Q1 24 | $-45.1M | $141.8M |
自由现金流率AIPATH
| Q4 25 | -62.4% | 6.1% | ||
| Q3 25 | -48.8% | — | ||
| Q2 25 | 9.5% | 29.8% | ||
| Q1 25 | -22.7% | 32.7% | ||
| Q4 24 | -41.9% | 6.5% | ||
| Q3 24 | 8.2% | 14.2% | ||
| Q2 24 | 21.7% | 29.5% | ||
| Q1 24 | -57.6% | 35.0% |
资本支出强度AIPATH
| Q4 25 | 0.5% | 0.8% | ||
| Q3 25 | 1.1% | 0.0% | ||
| Q2 25 | 0.9% | 3.6% | ||
| Q1 25 | 0.4% | 1.7% | ||
| Q4 24 | 0.9% | 1.4% | ||
| Q3 24 | 1.1% | 0.4% | ||
| Q2 24 | 2.9% | 0.4% | ||
| Q1 24 | 7.8% | 0.9% |
现金转化率AIPATH
| Q4 25 | — | 0.14× | ||
| Q3 25 | — | 26.25× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 2.82× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 4.29× |
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
AI
| License And Service | $70.2M | 93% |
| Professional Services | $4.9M | 7% |
PATH
| Subscription Services | $247.6M | 60% |
| License | $150.0M | 36% |
| Professional Services And Other | $13.5M | 3% |
