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C3.ai, Inc.（AI）与PTC Inc.（PTC）财务数据对比。点击上方公司名可切换其他公司
PTC Inc.的季度营收约是C3.ai, Inc.的9.1倍（$685.8M vs $75.1M）。PTC Inc.净利率更高（24.3% vs -139.3%，领先163.6%）。PTC Inc.同比增速更快（21.4% vs -20.3%）。PTC Inc.自由现金流更多（$267.4M vs $-46.9M）。过去两年PTC Inc.的营收复合增速更高（6.6% 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。
PTC是1985年成立的美国计算机软件与服务企业，总部位于马萨诸塞州波士顿。公司1988年率先推出参数化关联特征驱动的三维CAD建模软件，1998年发布基于互联网的产品生命周期管理（PLM）产品，目前面向合作伙伴与开发者提供物联网、增强现实（AR）平台及相关产品服务。
AI vs PTC — 直观对比
营收规模更大
PTC
是对方的9.1倍
$75.1M
营收增速更快
PTC
高出41.7%
-20.3%
净利率更高
PTC
高出163.6%
-139.3%
自由现金流更多
PTC
多$314.3M
$-46.9M
两年增速更快
PTC
近两年复合增速
-2.1%
损益表 — Q2 2026 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $75.1M | $685.8M |
| 净利润 | $-104.7M | $166.5M |
| 毛利率 | 40.4% | 82.8% |
| 营业利润率 | -149.2% | 32.2% |
| 净利率 | -139.3% | 24.3% |
| 营收同比 | -20.3% | 21.4% |
| 净利润同比 | -58.7% | 102.5% |
| 每股收益（稀释后） | $-0.75 | $1.39 |
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AIPTC
| Q4 25 | $75.1M | $685.8M | ||
| Q3 25 | $70.3M | $893.8M | ||
| Q2 25 | $108.7M | $643.9M | ||
| Q1 25 | $98.8M | $636.4M | ||
| Q4 24 | $94.3M | $565.1M | ||
| Q3 24 | $87.2M | $626.5M | ||
| Q2 24 | $86.6M | $518.6M | ||
| Q1 24 | $78.4M | $603.1M |
净利润AIPTC
| Q4 25 | $-104.7M | $166.5M | ||
| Q3 25 | $-116.8M | $347.8M | ||
| Q2 25 | $-79.7M | $141.3M | ||
| Q1 25 | $-80.2M | $162.6M | ||
| Q4 24 | $-66.0M | $82.2M | ||
| Q3 24 | $-62.8M | $126.5M | ||
| Q2 24 | $-72.9M | $69.0M | ||
| Q1 24 | $-72.6M | $114.4M |
毛利率AIPTC
| Q4 25 | 40.4% | 82.8% | ||
| Q3 25 | 37.6% | 86.9% | ||
| Q2 25 | 62.1% | 82.9% | ||
| Q1 25 | 59.1% | 83.3% | ||
| Q4 24 | 61.3% | 80.2% | ||
| Q3 24 | 59.8% | 82.0% | ||
| Q2 24 | 59.6% | 78.4% | ||
| Q1 24 | 57.8% | 81.8% |
营业利润率AIPTC
| Q4 25 | -149.2% | 32.2% | ||
| Q3 25 | -177.7% | 48.5% | ||
| Q2 25 | -81.8% | 32.6% | ||
| Q1 25 | -88.7% | 35.1% | ||
| Q4 24 | -79.8% | 20.4% | ||
| Q3 24 | -83.2% | 31.0% | ||
| Q2 24 | -95.1% | 18.5% | ||
| Q1 24 | -105.3% | 29.8% |
净利率AIPTC
| Q4 25 | -139.3% | 24.3% | ||
| Q3 25 | -166.2% | 38.9% | ||
| Q2 25 | -73.3% | 21.9% | ||
| Q1 25 | -81.2% | 25.6% | ||
| Q4 24 | -69.9% | 14.6% | ||
| Q3 24 | -72.0% | 20.2% | ||
| Q2 24 | -84.2% | 13.3% | ||
| Q1 24 | -92.6% | 19.0% |
每股收益（稀释后）AIPTC
| Q4 25 | $-0.75 | $1.39 | ||
| Q3 25 | $-0.86 | $2.88 | ||
| Q2 25 | $-0.60 | $1.17 | ||
| Q1 25 | $-0.62 | $1.35 | ||
| Q4 24 | $-0.52 | $0.68 | ||
| Q3 24 | $-0.50 | $1.05 | ||
| Q2 24 | $-0.59 | $0.57 | ||
| Q1 24 | $-0.60 | $0.95 |
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 | $209.7M |
| 总债务越低越好 | — | $1.2B |
| 股东权益账面价值 | $771.9M | $3.8B |
| 总资产 | $961.3M | $6.4B |
| 负债/权益比越低杠杆越低 | — | 0.31× |
8季度趋势，按日历期对齐
现金及短期投资AIPTC
| Q4 25 | $675.0M | $209.7M | ||
| Q3 25 | $711.9M | $184.4M | ||
| Q2 25 | $742.7M | $199.3M | ||
| Q1 25 | $724.3M | $235.2M | ||
| Q4 24 | $730.4M | $196.3M | ||
| Q3 24 | $762.5M | $265.8M | ||
| Q2 24 | $750.4M | $247.7M | ||
| Q1 24 | $723.3M | $249.0M |
总债务AIPTC
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $1.3B | ||
| Q1 24 | — | $1.5B |
股东权益AIPTC
| Q4 25 | $771.9M | $3.8B | ||
| Q3 25 | $798.8M | $3.8B | ||
| Q2 25 | $838.3M | $3.5B | ||
| Q1 25 | $860.2M | $3.4B | ||
| Q4 24 | $859.0M | $3.2B | ||
| Q3 24 | $874.9M | $3.2B | ||
| Q2 24 | $873.4M | $3.0B | ||
| Q1 24 | $898.0M | $2.9B |
总资产AIPTC
| Q4 25 | $961.3M | $6.4B | ||
| Q3 25 | $968.7M | $6.6B | ||
| Q2 25 | $1.0B | $6.2B | ||
| Q1 25 | $1.1B | $6.2B | ||
| Q4 24 | $1.0B | $6.1B | ||
| Q3 24 | $1.1B | $6.4B | ||
| Q2 24 | $1.0B | $6.1B | ||
| Q1 24 | $1.1B | $6.2B |
负债/权益比AIPTC
| Q4 25 | — | 0.31× | ||
| Q3 25 | — | 0.31× | ||
| Q2 25 | — | 0.34× | ||
| Q1 25 | — | 0.40× | ||
| Q4 24 | — | 0.32× | ||
| Q3 24 | — | 0.38× | ||
| Q2 24 | — | 0.43× | ||
| Q1 24 | — | 0.51× |
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 | $269.7M |
| 自由现金流经营现金流 - 资本支出 | $-46.9M | $267.4M |
| 自由现金流率自由现金流/营收 | -62.4% | 39.0% |
| 资本支出强度资本支出/营收 | 0.5% | 0.3% |
| 现金转化率经营现金流/净利润 | — | 1.62× |
| 过去12个月自由现金流最近4个季度 | $-93.2M | $888.4M |
8季度趋势，按日历期对齐
经营现金流AIPTC
| Q4 25 | $-46.5M | $269.7M | ||
| Q3 25 | $-33.5M | $104.0M | ||
| Q2 25 | $11.3M | $243.9M | ||
| Q1 25 | $-22.0M | $281.3M | ||
| Q4 24 | $-38.7M | $238.4M | ||
| Q3 24 | $8.0M | $98.1M | ||
| Q2 24 | $21.3M | $213.8M | ||
| Q1 24 | $-39.1M | $250.7M |
自由现金流AIPTC
| Q4 25 | $-46.9M | $267.4M | ||
| Q3 25 | $-34.3M | $100.5M | ||
| Q2 25 | $10.3M | $242.0M | ||
| Q1 25 | $-22.4M | $278.5M | ||
| Q4 24 | $-39.5M | $235.7M | ||
| Q3 24 | $7.1M | $93.6M | ||
| Q2 24 | $18.8M | $212.2M | ||
| Q1 24 | $-45.1M | $247.1M |
自由现金流率AIPTC
| Q4 25 | -62.4% | 39.0% | ||
| Q3 25 | -48.8% | 11.2% | ||
| Q2 25 | 9.5% | 37.6% | ||
| Q1 25 | -22.7% | 43.8% | ||
| Q4 24 | -41.9% | 41.7% | ||
| Q3 24 | 8.2% | 14.9% | ||
| Q2 24 | 21.7% | 40.9% | ||
| Q1 24 | -57.6% | 41.0% |
资本支出强度AIPTC
| Q4 25 | 0.5% | 0.3% | ||
| Q3 25 | 1.1% | 0.4% | ||
| Q2 25 | 0.9% | 0.3% | ||
| Q1 25 | 0.4% | 0.4% | ||
| Q4 24 | 0.9% | 0.5% | ||
| Q3 24 | 1.1% | 0.7% | ||
| Q2 24 | 2.9% | 0.3% | ||
| Q1 24 | 7.8% | 0.6% |
现金转化率AIPTC
| Q4 25 | — | 1.62× | ||
| Q3 25 | — | 0.30× | ||
| Q2 25 | — | 1.73× | ||
| Q1 25 | — | 1.73× | ||
| Q4 24 | — | 2.90× | ||
| Q3 24 | — | 0.78× | ||
| Q2 24 | — | 3.10× | ||
| Q1 24 | — | 2.19× |
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% |
PTC
| Support And Cloud Services | $393.3M | 57% |
| License | $269.7M | 39% |
| Technology Service | $22.9M | 3% |
| Perpetual License | $5.6M | 1% |
