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ASPEN AEROGELS INC（ASPN）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ASPEN AEROGELS INC的1.9倍（$78.6M vs $41.3M），ASPEN AEROGELS INC净利率更高（-176.4% vs -178.3%，领先1.9%），Repay Holdings Corp同比增速更快（0.4% vs -66.4%），Repay Holdings Corp自由现金流更多（$23.2M vs $13.7M），过去两年Repay Holdings Corp的营收复合增速更高（-1.3% vs -33.9%）
Aspen Aerogels Inc是全球领先的气凝胶基高性能隔热及热管理材料生产商，产品广泛应用于可再生能源、油气基础设施、航空航天、商业建筑与工业制造领域，核心市场覆盖北美、欧洲及亚太地区，旗下材料以优异的耐热性、防火性能和轻量化特性广受客户认可。
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。
ASPN vs RPAY — 直观对比
营收规模更大
RPAY
是对方的1.9倍
$41.3M
营收增速更快
RPAY
高出66.8%
-66.4%
净利率更高
ASPN
高出1.9%
-178.3%
自由现金流更多
RPAY
多$9.6M
$13.7M
两年增速更快
RPAY
近两年复合增速
-33.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $41.3M | $78.6M |
| 净利润 | $-72.9M | $-140.1M |
| 毛利率 | -55.5% | 74.2% |
| 营业利润率 | -170.3% | -182.2% |
| 净利率 | -176.4% | -178.3% |
| 营收同比 | -66.4% | 0.4% |
| 净利润同比 | -741.7% | -3304.1% |
| 每股收益（稀释后） | $-0.87 | $-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ASPNRPAY
| Q4 25 | $41.3M | $78.6M | ||
| Q3 25 | $73.0M | $77.7M | ||
| Q2 25 | $78.0M | $75.6M | ||
| Q1 25 | $78.7M | $77.3M | ||
| Q4 24 | $123.1M | $78.3M | ||
| Q3 24 | $117.3M | $79.1M | ||
| Q2 24 | $117.8M | $74.9M | ||
| Q1 24 | $94.5M | $80.7M |
净利润ASPNRPAY
| Q4 25 | $-72.9M | $-140.1M | ||
| Q3 25 | $-6.3M | $-6.4M | ||
| Q2 25 | $-9.1M | $-102.3M | ||
| Q1 25 | $-301.2M | $-7.9M | ||
| Q4 24 | $11.4M | $-4.1M | ||
| Q3 24 | $-13.0M | $3.2M | ||
| Q2 24 | $16.8M | $-4.1M | ||
| Q1 24 | $-1.8M | $-5.2M |
毛利率ASPNRPAY
| Q4 25 | -55.5% | 74.2% | ||
| Q3 25 | 28.5% | 74.4% | ||
| Q2 25 | 32.4% | 75.7% | ||
| Q1 25 | 29.0% | 75.9% | ||
| Q4 24 | 38.3% | 76.3% | ||
| Q3 24 | 41.8% | 77.8% | ||
| Q2 24 | 43.8% | 78.2% | ||
| Q1 24 | 37.2% | 76.2% |
营业利润率ASPNRPAY
| Q4 25 | -170.3% | -182.2% | ||
| Q3 25 | -4.6% | -3.9% | ||
| Q2 25 | -6.6% | -138.7% | ||
| Q1 25 | -380.2% | -4.7% | ||
| Q4 24 | 12.0% | -1.5% | ||
| Q3 24 | 14.8% | -0.9% | ||
| Q2 24 | 17.0% | -4.6% | ||
| Q1 24 | 2.6% | -3.1% |
净利率ASPNRPAY
| Q4 25 | -176.4% | -178.3% | ||
| Q3 25 | -8.7% | -8.3% | ||
| Q2 25 | -11.6% | -135.2% | ||
| Q1 25 | -382.7% | -10.3% | ||
| Q4 24 | 9.2% | -5.3% | ||
| Q3 24 | -11.1% | 4.1% | ||
| Q2 24 | 14.3% | -5.4% | ||
| Q1 24 | -1.9% | -6.5% |
每股收益（稀释后）ASPNRPAY
| Q4 25 | $-0.87 | $-1.68 | ||
| Q3 25 | $-0.08 | $-0.08 | ||
| Q2 25 | $-0.11 | $-1.15 | ||
| Q1 25 | $-3.67 | $-0.09 | ||
| Q4 24 | $0.15 | $-0.04 | ||
| Q3 24 | $-0.17 | $0.03 | ||
| Q2 24 | $0.21 | $-0.04 | ||
| Q1 24 | $-0.02 | $-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 | $156.9M | $115.7M |
| 总债务越低越好 | $65.5M | $280.1M |
| 股东权益账面价值 | $235.5M | $484.4M |
| 总资产 | $406.7M | $1.2B |
| 负债/权益比越低杠杆越低 | 0.28× | 0.58× |
8季度趋势，按日历期对齐
现金及短期投资ASPNRPAY
| Q4 25 | $156.9M | $115.7M | ||
| Q3 25 | $150.7M | $95.7M | ||
| Q2 25 | $167.6M | $162.6M | ||
| Q1 25 | $192.0M | $165.5M | ||
| Q4 24 | $220.9M | $189.5M | ||
| Q3 24 | $113.5M | $168.7M | ||
| Q2 24 | $91.4M | $147.1M | ||
| Q1 24 | $101.5M | $128.3M |
总债务ASPNRPAY
| Q4 25 | $65.5M | $280.1M | ||
| Q3 25 | $70.1M | $279.5M | ||
| Q2 25 | $77.3M | $279.0M | ||
| Q1 25 | $95.4M | $497.6M | ||
| Q4 24 | $95.0M | $496.8M | ||
| Q3 24 | $93.7M | $496.2M | ||
| Q2 24 | — | $435.6M | ||
| Q1 24 | — | $434.9M |
股东权益ASPNRPAY
| Q4 25 | $235.5M | $484.4M | ||
| Q3 25 | $305.7M | $616.9M | ||
| Q2 25 | $308.8M | $633.7M | ||
| Q1 25 | $314.8M | $755.7M | ||
| Q4 24 | $614.7M | $761.3M | ||
| Q3 24 | $507.6M | $754.7M | ||
| Q2 24 | $517.8M | $815.4M | ||
| Q1 24 | $491.2M | $813.8M |
总资产ASPNRPAY
| Q4 25 | $406.7M | $1.2B | ||
| Q3 25 | $491.4M | $1.3B | ||
| Q2 25 | $525.1M | $1.4B | ||
| Q1 25 | $555.0M | $1.5B | ||
| Q4 24 | $895.1M | $1.6B | ||
| Q3 24 | $782.6M | $1.6B | ||
| Q2 24 | $748.6M | $1.5B | ||
| Q1 24 | $698.0M | $1.5B |
负债/权益比ASPNRPAY
| Q4 25 | 0.28× | 0.58× | ||
| Q3 25 | 0.23× | 0.45× | ||
| Q2 25 | 0.25× | 0.44× | ||
| Q1 25 | 0.30× | 0.66× | ||
| Q4 24 | 0.15× | 0.65× | ||
| Q3 24 | 0.18× | 0.66× | ||
| Q2 24 | — | 0.53× | ||
| Q1 24 | — | 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 | $16.1M | $23.3M |
| 自由现金流经营现金流 - 资本支出 | $13.7M | $23.2M |
| 自由现金流率自由现金流/营收 | 33.1% | 29.6% |
| 资本支出强度资本支出/营收 | 6.0% | 0.1% |
| 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 | $-4.6M | $90.7M |
8季度趋势，按日历期对齐
经营现金流ASPNRPAY
| Q4 25 | $16.1M | $23.3M | ||
| Q3 25 | $15.0M | $32.2M | ||
| Q2 25 | $-3.9M | $33.1M | ||
| Q1 25 | $5.6M | $2.5M | ||
| Q4 24 | $35.7M | $34.3M | ||
| Q3 24 | $20.8M | $60.1M | ||
| Q2 24 | $6.8M | $31.0M | ||
| Q1 24 | $-17.7M | $24.8M |
自由现金流ASPNRPAY
| Q4 25 | $13.7M | $23.2M | ||
| Q3 25 | $5.9M | $32.1M | ||
| Q2 25 | $-16.8M | $33.0M | ||
| Q1 25 | $-7.4M | $2.4M | ||
| Q4 24 | $20.9M | $34.0M | ||
| Q3 24 | $-50.0K | $59.8M | ||
| Q2 24 | $-18.0M | $30.5M | ||
| Q1 24 | $-43.6M | $24.7M |
自由现金流率ASPNRPAY
| Q4 25 | 33.1% | 29.6% | ||
| Q3 25 | 8.1% | 41.3% | ||
| Q2 25 | -21.6% | 43.6% | ||
| Q1 25 | -9.4% | 3.0% | ||
| Q4 24 | 17.0% | 43.5% | ||
| Q3 24 | -0.0% | 75.6% | ||
| Q2 24 | -15.3% | 40.7% | ||
| Q1 24 | -46.1% | 30.6% |
资本支出强度ASPNRPAY
| Q4 25 | 6.0% | 0.1% | ||
| Q3 25 | 12.5% | 0.2% | ||
| Q2 25 | 16.5% | 0.1% | ||
| Q1 25 | 16.5% | 0.2% | ||
| Q4 24 | 12.0% | 0.3% | ||
| Q3 24 | 17.7% | 0.3% | ||
| Q2 24 | 21.1% | 0.6% | ||
| Q1 24 | 27.4% | 0.1% |
现金转化率ASPNRPAY
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 3.14× | — | ||
| Q3 24 | — | 18.52× | ||
| Q2 24 | 0.41× | — | ||
| Q1 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
ASPN
| Energy Industrial | $14.5M | 35% |
| Other | $13.9M | 34% |
| Thermal Barrier | $12.9M | 31% |
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
