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百通（BDC）与UiPath, Inc.（PATH）财务数据对比。点击上方公司名可切换其他公司
百通的季度营收约是UiPath, Inc.的1.8倍（$720.1M vs $411.1M），UiPath, Inc.净利率更高（48.4% vs 9.4%，领先38.9%），UiPath, Inc.同比增速更快（15.9% vs 8.1%），百通自由现金流更多（$121.3M vs $25.1M），过去两年百通的营收复合增速更高（15.9% vs 0.7%）
百通公司是美国上市跨国企业，专注于端到端网络、安全及连接产品的设计、生产与销售，业务覆盖工业自动化解决方案、智能建筑、宽带及5G三大核心领域，为各行业客户提供可靠的通信连接相关产品与服务。
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。
BDC vs PATH — 直观对比
营收规模更大
BDC
是对方的1.8倍
$411.1M
营收增速更快
PATH
高出7.8%
8.1%
净利率更高
PATH
高出38.9%
9.4%
自由现金流更多
BDC
多$96.1M
$25.1M
两年增速更快
BDC
近两年复合增速
0.7%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $720.1M | $411.1M |
| 净利润 | $67.9M | $198.8M |
| 毛利率 | 36.6% | 83.3% |
| 营业利润率 | 12.2% | 3.2% |
| 净利率 | 9.4% | 48.4% |
| 营收同比 | 8.1% | 15.9% |
| 净利润同比 | 16.3% | 1966.2% |
| 每股收益（稀释后） | $1.70 | $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BDCPATH
| Q4 25 | $720.1M | $411.1M | ||
| Q3 25 | $698.2M | $361.7M | ||
| Q2 25 | $672.0M | $356.6M | ||
| Q1 25 | $624.9M | $423.6M | ||
| Q4 24 | $666.0M | $354.7M | ||
| Q3 24 | $654.9M | $316.3M | ||
| Q2 24 | $604.3M | $335.1M | ||
| Q1 24 | $535.7M | $405.3M |
净利润BDCPATH
| Q4 25 | $67.9M | $198.8M | ||
| Q3 25 | $56.7M | $1.6M | ||
| Q2 25 | $61.0M | $-22.6M | ||
| Q1 25 | $51.9M | $51.8M | ||
| Q4 24 | $58.4M | $-10.7M | ||
| Q3 24 | $53.7M | $-86.1M | ||
| Q2 24 | $49.0M | $-28.7M | ||
| Q1 24 | $37.3M | $33.9M |
毛利率BDCPATH
| Q4 25 | 36.6% | 83.3% | ||
| Q3 25 | 37.7% | 82.2% | ||
| Q2 25 | 38.5% | 82.1% | ||
| Q1 25 | 39.3% | 84.8% | ||
| Q4 24 | 37.5% | 82.0% | ||
| Q3 24 | 37.3% | 80.0% | ||
| Q2 24 | 37.5% | 83.5% | ||
| Q1 24 | 37.6% | 86.8% |
营业利润率BDCPATH
| Q4 25 | 12.2% | 3.2% | ||
| Q3 25 | 10.9% | -5.6% | ||
| Q2 25 | 11.8% | -4.6% | ||
| Q1 25 | 11.6% | 7.9% | ||
| Q4 24 | 10.4% | -12.2% | ||
| Q3 24 | 11.5% | -32.7% | ||
| Q2 24 | 11.4% | -14.8% | ||
| Q1 24 | 9.9% | 3.7% |
净利率BDCPATH
| Q4 25 | 9.4% | 48.4% | ||
| Q3 25 | 8.1% | 0.4% | ||
| Q2 25 | 9.1% | -6.3% | ||
| Q1 25 | 8.3% | 12.2% | ||
| Q4 24 | 8.8% | -3.0% | ||
| Q3 24 | 8.2% | -27.2% | ||
| Q2 24 | 8.1% | -8.6% | ||
| Q1 24 | 7.0% | 8.4% |
每股收益（稀释后）BDCPATH
| Q4 25 | $1.70 | $0.37 | ||
| Q3 25 | $1.41 | $0.00 | ||
| Q2 25 | $1.53 | $-0.04 | ||
| Q1 25 | $1.27 | $0.09 | ||
| Q4 24 | $1.41 | $-0.02 | ||
| Q3 24 | $1.30 | $-0.15 | ||
| Q2 24 | $1.19 | $-0.05 | ||
| Q1 24 | $0.90 | $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 | $389.9M | $1.4B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.3B | $1.9B |
| 总资产 | $3.5B | $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BDCPATH
| Q4 25 | $389.9M | $1.4B | ||
| Q3 25 | $314.3M | $1.4B | ||
| Q2 25 | $301.5M | $1.6B | ||
| Q1 25 | $259.0M | $1.6B | ||
| Q4 24 | $370.3M | $1.6B | ||
| Q3 24 | $323.0M | $1.7B | ||
| Q2 24 | $564.8M | $1.9B | ||
| Q1 24 | $506.8M | $1.9B |
股东权益BDCPATH
| Q4 25 | $1.3B | $1.9B | ||
| Q3 25 | $1.2B | $1.7B | ||
| Q2 25 | $1.2B | $1.7B | ||
| Q1 25 | $1.2B | $1.8B | ||
| Q4 24 | $1.3B | $1.7B | ||
| Q3 24 | $1.2B | $1.8B | ||
| Q2 24 | $1.2B | $2.0B | ||
| Q1 24 | $1.2B | $2.0B |
总资产BDCPATH
| Q4 25 | $3.5B | $2.9B | ||
| Q3 25 | $3.4B | $2.6B | ||
| Q2 25 | $3.4B | $2.6B | ||
| Q1 25 | $3.3B | $2.9B | ||
| Q4 24 | $3.3B | $2.7B | ||
| Q3 24 | $3.3B | $2.7B | ||
| Q2 24 | $3.5B | $2.8B | ||
| Q1 24 | $3.1B | $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 | $160.4M | $28.3M |
| 自由现金流经营现金流 - 资本支出 | $121.3M | $25.1M |
| 自由现金流率自由现金流/营收 | 16.8% | 6.1% |
| 资本支出强度资本支出/营收 | 5.4% | 0.8% |
| 现金转化率经营现金流/净利润 | 2.36× | 0.14× |
| 过去12个月自由现金流最近4个季度 | $218.7M | — |
8季度趋势，按日历期对齐
经营现金流BDCPATH
| Q4 25 | $160.4M | $28.3M | ||
| Q3 25 | $105.0M | $41.6M | ||
| Q2 25 | $82.0M | $119.0M | ||
| Q1 25 | $7.4M | $146.1M | ||
| Q4 24 | $174.7M | $28.1M | ||
| Q3 24 | $91.7M | $46.4M | ||
| Q2 24 | $83.0M | $100.0M | ||
| Q1 24 | $2.7M | $145.6M |
自由现金流BDCPATH
| Q4 25 | $121.3M | $25.1M | ||
| Q3 25 | $65.3M | — | ||
| Q2 25 | $56.9M | $106.2M | ||
| Q1 25 | $-24.8M | $138.7M | ||
| Q4 24 | $116.4M | $23.2M | ||
| Q3 24 | $67.2M | $45.0M | ||
| Q2 24 | $61.0M | $98.8M | ||
| Q1 24 | $-21.5M | $141.8M |
自由现金流率BDCPATH
| Q4 25 | 16.8% | 6.1% | ||
| Q3 25 | 9.4% | — | ||
| Q2 25 | 8.5% | 29.8% | ||
| Q1 25 | -4.0% | 32.7% | ||
| Q4 24 | 17.5% | 6.5% | ||
| Q3 24 | 10.3% | 14.2% | ||
| Q2 24 | 10.1% | 29.5% | ||
| Q1 24 | -4.0% | 35.0% |
资本支出强度BDCPATH
| Q4 25 | 5.4% | 0.8% | ||
| Q3 25 | 5.7% | 0.0% | ||
| Q2 25 | 3.7% | 3.6% | ||
| Q1 25 | 5.2% | 1.7% | ||
| Q4 24 | 8.8% | 1.4% | ||
| Q3 24 | 3.7% | 0.4% | ||
| Q2 24 | 3.6% | 0.4% | ||
| Q1 24 | 4.5% | 0.9% |
现金转化率BDCPATH
| Q4 25 | 2.36× | 0.14× | ||
| Q3 25 | 1.85× | 26.25× | ||
| Q2 25 | 1.34× | — | ||
| Q1 25 | 0.14× | 2.82× | ||
| Q4 24 | 2.99× | — | ||
| Q3 24 | 1.71× | — | ||
| Q2 24 | 1.69× | — | ||
| Q1 24 | 0.07× | 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
BDC
| Automation Solutions Segment | $397.7M | 55% |
| Broadband Solutions | $164.8M | 23% |
| Smart Buildings Solutions | $157.7M | 22% |
PATH
| Subscription Services | $247.6M | 60% |
| License | $150.0M | 36% |
| Professional Services And Other | $13.5M | 3% |
