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BLACKBAUD INC（BLKB）与医疗房产信托（SVC）财务数据对比。点击上方公司名可切换其他公司
医疗房产信托的季度营收约是BLACKBAUD INC的1.1倍（$296.5M vs $281.1M），BLACKBAUD INC净利率更高（11.1% vs -0.3%，领先11.3%），BLACKBAUD INC同比增速更快（4.2% vs -17.0%），BLACKBAUD INC自由现金流更多（$37.0M vs $-95.2M），过去两年BLACKBAUD INC的营收复合增速更高（-1.1% vs -6.1%）
Blackbaud是全球知名的云服务提供商，专注为非营利组织、基金会、企业、教育机构、医疗机构、宗教团体及个人公益推动者提供技术支持，旗下产品覆盖筹款、网站管理、客户关系管理、数据分析、财务管理、票务系统、教育管理等多元场景。
医疗房产信托（MPT）是总部位于阿拉巴马州伯明翰的国际房地产投资信托（REIT），主要在美国和欧洲地区收购投资医疗设施与营利性医疗控股公司。该公司的房产收购多采用售后回租模式，原产权方出售房产给MPT后成为承租租户，其租户普遍签订长期三净租约。
BLKB vs SVC — 直观对比
营收规模更大
SVC
是对方的1.1倍
$281.1M
营收增速更快
BLKB
高出21.1%
-17.0%
净利率更高
BLKB
高出11.3%
-0.3%
自由现金流更多
BLKB
多$132.2M
$-95.2M
两年增速更快
BLKB
近两年复合增速
-6.1%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $281.1M | $296.5M |
| 净利润 | $31.1M | $-782.0K |
| 毛利率 | 59.2% | — |
| 营业利润率 | 18.3% | -3.9% |
| 净利率 | 11.1% | -0.3% |
| 营收同比 | 4.2% | -17.0% |
| 净利润同比 | 620.3% | 99.0% |
| 每股收益（稀释后） | $0.67 | $-0.01 |
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BLKBSVC
| Q1 26 | $281.1M | — | ||
| Q4 25 | $295.3M | $296.5M | ||
| Q3 25 | $281.1M | $377.6M | ||
| Q2 25 | $282.0M | $404.4M | ||
| Q1 25 | $269.9M | $335.0M | ||
| Q4 24 | $302.1M | $357.0M | ||
| Q3 24 | $286.6M | $390.9M | ||
| Q2 24 | $287.3M | $412.5M |
净利润BLKBSVC
| Q1 26 | $31.1M | — | ||
| Q4 25 | $36.7M | $-782.0K | ||
| Q3 25 | $47.5M | $-46.9M | ||
| Q2 25 | $26.5M | $-38.2M | ||
| Q1 25 | $4.3M | $-116.4M | ||
| Q4 24 | $-346.4M | $-76.4M | ||
| Q3 24 | $18.3M | $-46.9M | ||
| Q2 24 | $21.2M | $-73.8M |
毛利率BLKBSVC
| Q1 26 | 59.2% | — | ||
| Q4 25 | 58.3% | — | ||
| Q3 25 | 59.6% | — | ||
| Q2 25 | 59.7% | — | ||
| Q1 25 | 57.5% | — | ||
| Q4 24 | 53.8% | — | ||
| Q3 24 | 54.9% | — | ||
| Q2 24 | 56.0% | — |
营业利润率BLKBSVC
| Q1 26 | 18.3% | — | ||
| Q4 25 | 20.0% | -3.9% | ||
| Q3 25 | 19.4% | -12.8% | ||
| Q2 25 | 20.3% | -9.2% | ||
| Q1 25 | 7.3% | -33.3% | ||
| Q4 24 | -121.5% | -19.4% | ||
| Q3 24 | 14.4% | -12.8% | ||
| Q2 24 | 14.4% | -17.1% |
净利率BLKBSVC
| Q1 26 | 11.1% | — | ||
| Q4 25 | 12.4% | -0.3% | ||
| Q3 25 | 16.9% | -12.4% | ||
| Q2 25 | 9.4% | -9.4% | ||
| Q1 25 | 1.6% | -34.8% | ||
| Q4 24 | -114.6% | -21.4% | ||
| Q3 24 | 6.4% | -12.0% | ||
| Q2 24 | 7.4% | -17.9% |
每股收益（稀释后）BLKBSVC
| Q1 26 | $0.67 | — | ||
| Q4 25 | $0.75 | $-0.01 | ||
| Q3 25 | $0.98 | $-0.28 | ||
| Q2 25 | $0.55 | $-0.23 | ||
| Q1 25 | $0.09 | $-0.70 | ||
| Q4 24 | $-6.82 | $-0.46 | ||
| Q3 24 | $0.35 | $-0.28 | ||
| Q2 24 | $0.41 | $-0.45 |
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 | $34.1M | $346.8M |
| 总债务越低越好 | — | $5.5B |
| 股东权益账面价值 | $34.6M | $646.1M |
| 总资产 | $2.1B | $6.5B |
| 负债/权益比越低杠杆越低 | — | 8.52× |
8季度趋势，按日历期对齐
现金及短期投资BLKBSVC
| Q1 26 | $34.1M | — | ||
| Q4 25 | $38.9M | $346.8M | ||
| Q3 25 | $38.3M | $417.4M | ||
| Q2 25 | $41.6M | $63.2M | ||
| Q1 25 | $37.2M | $80.1M | ||
| Q4 24 | $67.6M | $143.5M | ||
| Q3 24 | $34.6M | $48.6M | ||
| Q2 24 | $30.4M | $14.6M |
总债务BLKBSVC
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $5.5B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.1B | $5.8B | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $1.0B | — |
股东权益BLKBSVC
| Q1 26 | $34.6M | — | ||
| Q4 25 | $85.1M | $646.1M | ||
| Q3 25 | $108.2M | $647.9M | ||
| Q2 25 | $72.7M | $695.9M | ||
| Q1 25 | $17.5M | $734.6M | ||
| Q4 24 | $126.8M | $851.9M | ||
| Q3 24 | $544.8M | $929.0M | ||
| Q2 24 | $577.5M | $1.0B |
总资产BLKBSVC
| Q1 26 | $2.1B | — | ||
| Q4 25 | $2.4B | $6.5B | ||
| Q3 25 | $2.1B | $7.0B | ||
| Q2 25 | $2.6B | $6.9B | ||
| Q1 25 | $2.1B | $7.0B | ||
| Q4 24 | $2.5B | $7.1B | ||
| Q3 24 | $2.6B | $7.1B | ||
| Q2 24 | $3.0B | $7.1B |
负债/权益比BLKBSVC
| Q1 26 | — | — | ||
| Q4 25 | 13.06× | 8.52× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 8.50× | 6.85× | ||
| Q3 24 | 1.84× | — | ||
| Q2 24 | 1.78× | — |
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 | $51.5M | $-18.5M |
| 自由现金流经营现金流 - 资本支出 | $37.0M | $-95.2M |
| 自由现金流率自由现金流/营收 | 13.2% | -32.1% |
| 资本支出强度资本支出/营收 | — | 25.9% |
| 现金转化率经营现金流/净利润 | 1.65× | — |
| 过去12个月自由现金流最近4个季度 | $294.1M | $-107.0M |
8季度趋势，按日历期对齐
经营现金流BLKBSVC
| Q1 26 | $51.5M | — | ||
| Q4 25 | $58.0M | $-18.5M | ||
| Q3 25 | $139.2M | $98.1M | ||
| Q2 25 | $66.9M | $-7.0K | ||
| Q1 25 | $1.4M | $38.2M | ||
| Q4 24 | $73.6M | $-9.7M | ||
| Q3 24 | $104.0M | $106.2M | ||
| Q2 24 | $53.1M | $43.8M |
自由现金流BLKBSVC
| Q1 26 | $37.0M | — | ||
| Q4 25 | $55.0M | $-95.2M | ||
| Q3 25 | $135.7M | $57.9M | ||
| Q2 25 | $66.3M | $-46.6M | ||
| Q1 25 | $712.0K | $-23.2M | ||
| Q4 24 | $73.4M | $-88.9M | ||
| Q3 24 | $102.9M | $24.1M | ||
| Q2 24 | $48.0M | $-22.3M |
自由现金流率BLKBSVC
| Q1 26 | 13.2% | — | ||
| Q4 25 | 18.6% | -32.1% | ||
| Q3 25 | 48.3% | 15.3% | ||
| Q2 25 | 23.5% | -11.5% | ||
| Q1 25 | 0.3% | -6.9% | ||
| Q4 24 | 24.3% | -24.9% | ||
| Q3 24 | 35.9% | 6.2% | ||
| Q2 24 | 16.7% | -5.4% |
资本支出强度BLKBSVC
| Q1 26 | — | — | ||
| Q4 25 | 1.0% | 25.9% | ||
| Q3 25 | 1.2% | 10.6% | ||
| Q2 25 | 0.2% | 11.5% | ||
| Q1 25 | 0.3% | 18.3% | ||
| Q4 24 | 0.1% | 22.2% | ||
| Q3 24 | 0.4% | 21.0% | ||
| Q2 24 | 1.8% | 16.0% |
现金转化率BLKBSVC
| Q1 26 | 1.65× | — | ||
| Q4 25 | 1.58× | — | ||
| Q3 25 | 2.93× | — | ||
| Q2 25 | 2.53× | — | ||
| Q1 25 | 0.32× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 5.69× | — | ||
| Q2 24 | 2.50× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
