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ASURE SOFTWARE INC（ASUR）与Waystar Holding Corp.（WAY）财务数据对比。点击上方公司名可切换其他公司
Waystar Holding Corp.的季度营收约是ASURE SOFTWARE INC的8.4倍（$303.5M vs $36.3M）。Waystar Holding Corp.净利率更高（6.6% vs -14.8%，领先21.4%）。Waystar Holding Corp.同比增速更快（24.3% vs 23.7%）。Waystar Holding Corp.自由现金流更多（$57.2M vs $5.7M）。过去两年Waystar Holding Corp.的营收复合增速更高（16.2% vs 11.2%）
Asure Software是一家软件企业，其前身为Forgent Networks，2007年9月完成品牌更名后，业务逐渐拓展至人力资本管理领域，为客户提供薪资发放、考勤管理、人才管理、人力资源管理、福利管理以及保险相关服务等解决方案。
Waystar Holding Corp是一家领先的医疗健康支付与营收周期管理解决方案提供商，服务覆盖美国各地的医疗机构、医疗系统和支付方，旗下工具可简化账单处理、理赔申请、患者缴费流程，帮助医疗机构降低行政负担、优化营收表现。
ASUR vs WAY — 直观对比
营收规模更大
WAY
是对方的8.4倍
$36.3M
营收增速更快
WAY
高出0.6%
23.7%
净利率更高
WAY
高出21.4%
-14.8%
自由现金流更多
WAY
多$51.6M
$5.7M
两年增速更快
WAY
近两年复合增速
11.2%
损益表 — Q3 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $36.3M | $303.5M |
| 净利润 | $-5.4M | $20.0M |
| 毛利率 | 63.8% | — |
| 营业利润率 | -9.7% | 19.4% |
| 净利率 | -14.8% | 6.6% |
| 营收同比 | 23.7% | 24.3% |
| 净利润同比 | -37.5% | 4.8% |
| 每股收益（稀释后） | $-0.19 | $0.10 |
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ASURWAY
| Q4 25 | — | $303.5M | ||
| Q3 25 | $36.3M | $268.7M | ||
| Q2 25 | $30.1M | $270.7M | ||
| Q1 25 | $34.9M | $256.4M | ||
| Q4 24 | — | $244.1M | ||
| Q3 24 | $29.3M | $240.1M | ||
| Q2 24 | $28.0M | $234.5M | ||
| Q1 24 | $31.7M | $224.8M |
净利润ASURWAY
| Q4 25 | — | $20.0M | ||
| Q3 25 | $-5.4M | $30.6M | ||
| Q2 25 | $-6.1M | $32.2M | ||
| Q1 25 | $-2.4M | $29.3M | ||
| Q4 24 | — | $19.1M | ||
| Q3 24 | $-3.9M | $5.4M | ||
| Q2 24 | $-4.4M | $-27.7M | ||
| Q1 24 | $-308.0K | $-15.9M |
毛利率ASURWAY
| Q4 25 | — | — | ||
| Q3 25 | 63.8% | — | ||
| Q2 25 | 66.1% | — | ||
| Q1 25 | 70.6% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 67.2% | — | ||
| Q2 24 | 67.3% | — | ||
| Q1 24 | 71.4% | — |
营业利润率ASURWAY
| Q4 25 | — | 19.4% | ||
| Q3 25 | -9.7% | 22.4% | ||
| Q2 25 | -15.4% | 24.0% | ||
| Q1 25 | -5.8% | 25.4% | ||
| Q4 24 | — | 21.8% | ||
| Q3 24 | -12.4% | 11.3% | ||
| Q2 24 | -14.9% | 3.5% | ||
| Q1 24 | -1.4% | 15.7% |
净利率ASURWAY
| Q4 25 | — | 6.6% | ||
| Q3 25 | -14.8% | 11.4% | ||
| Q2 25 | -20.3% | 11.9% | ||
| Q1 25 | -6.9% | 11.4% | ||
| Q4 24 | — | 7.8% | ||
| Q3 24 | -13.3% | 2.3% | ||
| Q2 24 | -15.5% | -11.8% | ||
| Q1 24 | -1.0% | -7.1% |
每股收益（稀释后）ASURWAY
| Q4 25 | — | $0.10 | ||
| Q3 25 | $-0.19 | $0.17 | ||
| Q2 25 | $-0.22 | $0.18 | ||
| Q1 25 | $-0.09 | $0.16 | ||
| Q4 24 | — | $0.18 | ||
| Q3 24 | $-0.15 | $0.03 | ||
| Q2 24 | $-0.17 | $-0.21 | ||
| Q1 24 | $-0.01 | $-0.13 |
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 | $21.5M | $61.4M |
| 总债务越低越好 | $70.4M | $1.5B |
| 股东权益账面价值 | $193.1M | $3.9B |
| 总资产 | $447.1M | $5.8B |
| 负债/权益比越低杠杆越低 | 0.36× | 0.38× |
8季度趋势，按日历期对齐
现金及短期投资ASURWAY
| Q4 25 | — | $61.4M | ||
| Q3 25 | $21.5M | $421.1M | ||
| Q2 25 | $66.0M | $290.3M | ||
| Q1 25 | $14.1M | $224.0M | ||
| Q4 24 | — | $182.1M | ||
| Q3 24 | $11.2M | $127.1M | ||
| Q2 24 | $20.7M | $68.4M | ||
| Q1 24 | $23.2M | $57.3M |
总债务ASURWAY
| Q4 25 | — | $1.5B | ||
| Q3 25 | $70.4M | — | ||
| Q2 25 | $67.4M | — | ||
| Q1 25 | $14.1M | — | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | $7.5M | — | ||
| Q2 24 | $6.0M | — | ||
| Q1 24 | $5.3M | — |
股东权益ASURWAY
| Q4 25 | — | $3.9B | ||
| Q3 25 | $193.1M | $3.2B | ||
| Q2 25 | $194.3M | $3.2B | ||
| Q1 25 | $197.7M | $3.1B | ||
| Q4 24 | — | $3.1B | ||
| Q3 24 | $199.2M | $3.1B | ||
| Q2 24 | $195.5M | $2.9B | ||
| Q1 24 | $197.7M | $2.0B |
总资产ASURWAY
| Q4 25 | — | $5.8B | ||
| Q3 25 | $447.1M | $4.7B | ||
| Q2 25 | $505.6M | $4.7B | ||
| Q1 25 | $498.9M | $4.6B | ||
| Q4 24 | — | $4.6B | ||
| Q3 24 | $428.1M | $4.5B | ||
| Q2 24 | $420.1M | $4.6B | ||
| Q1 24 | $469.3M | — |
负债/权益比ASURWAY
| Q4 25 | — | 0.38× | ||
| Q3 25 | 0.36× | — | ||
| Q2 25 | 0.35× | — | ||
| Q1 25 | 0.07× | — | ||
| Q4 24 | — | 0.40× | ||
| Q3 24 | 0.04× | — | ||
| Q2 24 | 0.03× | — | ||
| Q1 24 | 0.03× | — |
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 | $5.8M | $66.6M |
| 自由现金流经营现金流 - 资本支出 | $5.7M | $57.2M |
| 自由现金流率自由现金流/营收 | 15.6% | 18.9% |
| 资本支出强度资本支出/营收 | 0.3% | 3.1% |
| 现金转化率经营现金流/净利润 | — | 3.33× |
| 过去12个月自由现金流最近4个季度 | $11.6M | $283.2M |
8季度趋势，按日历期对齐
经营现金流ASURWAY
| Q4 25 | — | $66.6M | ||
| Q3 25 | $5.8M | $82.0M | ||
| Q2 25 | $3.2M | $96.8M | ||
| Q1 25 | $2.0M | $64.2M | ||
| Q4 24 | — | — | ||
| Q3 24 | $1.3M | $78.8M | ||
| Q2 24 | $2.2M | $15.4M | ||
| Q1 24 | $-3.9M | $10.7M |
自由现金流ASURWAY
| Q4 25 | — | $57.2M | ||
| Q3 25 | $5.7M | $76.2M | ||
| Q2 25 | $3.0M | $91.0M | ||
| Q1 25 | $1.8M | $58.8M | ||
| Q4 24 | — | — | ||
| Q3 24 | $1.2M | $70.2M | ||
| Q2 24 | $2.1M | $8.6M | ||
| Q1 24 | $-4.2M | $5.2M |
自由现金流率ASURWAY
| Q4 25 | — | 18.9% | ||
| Q3 25 | 15.6% | 28.3% | ||
| Q2 25 | 9.8% | 33.6% | ||
| Q1 25 | 5.2% | 22.9% | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.9% | 29.2% | ||
| Q2 24 | 7.5% | 3.7% | ||
| Q1 24 | -13.2% | 2.3% |
资本支出强度ASURWAY
| Q4 25 | — | 3.1% | ||
| Q3 25 | 0.3% | 2.2% | ||
| Q2 25 | 0.7% | 2.1% | ||
| Q1 25 | 0.6% | 2.1% | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.6% | 3.6% | ||
| Q2 24 | 0.5% | 2.9% | ||
| Q1 24 | 0.8% | 2.5% |
现金转化率ASURWAY
| Q4 25 | — | 3.33× | ||
| Q3 25 | — | 2.68× | ||
| Q2 25 | — | 3.01× | ||
| Q1 25 | — | 2.20× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 14.56× | ||
| Q2 24 | — | — | ||
| 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
ASUR
| Recurring | $31.8M | 88% |
| Lathem Time | $4.6M | 13% |
WAY
| Subscription And Circulation | $167.8M | 55% |
| Volume Based Revenue | $134.2M | 44% |
| Implementation Services And Other Revenue | $1.5M | 1% |
