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微牛（BULL）与LiveRamp Holdings, Inc.（RAMP）财务数据对比。点击上方公司名可切换其他公司
LiveRamp Holdings, Inc.的季度营收约是微牛的1.6倍（$212.2M vs $131.5M），LiveRamp Holdings, Inc.净利率更高（18.8% vs -21.5%，领先40.3%），微牛同比增速更快（46.3% vs 8.6%）
微牛（Webull）是总部位于美国佛罗里达州圣彼得堡的金融服务控股企业，核心运营与品牌同名的电子交易平台，面向用户提供便捷的线上证券等金融产品交易服务，是海外知名的互联网券商服务提供商。
LiveRamp Holdings, Inc.是一家美国SaaS企业，核心业务为提供数据连接平台，服务涵盖数据导入、线下数据线上迁移等能力，助力企业开展营销相关的数据应用，为品牌及营销从业者的数字化运营提供技术支撑。
BULL vs RAMP — 直观对比
营收规模更大
RAMP
是对方的1.6倍
$131.5M
营收增速更快
BULL
高出37.7%
8.6%
净利率更高
RAMP
高出40.3%
-21.5%
损益表 — Q2 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $131.5M | $212.2M |
| 净利润 | $-28.3M | $39.9M |
| 毛利率 | — | 71.9% |
| 营业利润率 | -16.3% | 18.6% |
| 净利率 | -21.5% | 18.8% |
| 营收同比 | 46.3% | 8.6% |
| 净利润同比 | -144.3% | 255.7% |
| 每股收益（稀释后） | — | $0.62 |
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BULLRAMP
| Q4 25 | — | $212.2M | ||
| Q3 25 | — | $199.8M | ||
| Q2 25 | $131.5M | $194.8M | ||
| Q1 25 | — | $188.7M | ||
| Q4 24 | — | $195.4M | ||
| Q3 24 | — | $185.5M | ||
| Q2 24 | $89.9M | $176.0M | ||
| Q1 24 | — | $171.9M |
净利润BULLRAMP
| Q4 25 | — | $39.9M | ||
| Q3 25 | — | $27.4M | ||
| Q2 25 | $-28.3M | $7.7M | ||
| Q1 25 | — | $-6.3M | ||
| Q4 24 | — | $11.2M | ||
| Q3 24 | — | $1.7M | ||
| Q2 24 | $-11.6M | $-7.5M | ||
| Q1 24 | — | $-5.4M |
毛利率BULLRAMP
| Q4 25 | — | 71.9% | ||
| Q3 25 | — | 70.2% | ||
| Q2 25 | — | 70.1% | ||
| Q1 25 | — | 69.3% | ||
| Q4 24 | — | 71.9% | ||
| Q3 24 | — | 72.4% | ||
| Q2 24 | — | 70.6% | ||
| Q1 24 | — | 72.2% |
营业利润率BULLRAMP
| Q4 25 | — | 18.6% | ||
| Q3 25 | — | 10.7% | ||
| Q2 25 | -16.3% | 3.7% | ||
| Q1 25 | — | -6.1% | ||
| Q4 24 | — | 7.5% | ||
| Q3 24 | — | 4.0% | ||
| Q2 24 | -11.4% | -3.0% | ||
| Q1 24 | — | -8.3% |
净利率BULLRAMP
| Q4 25 | — | 18.8% | ||
| Q3 25 | — | 13.7% | ||
| Q2 25 | -21.5% | 4.0% | ||
| Q1 25 | — | -3.3% | ||
| Q4 24 | — | 5.7% | ||
| Q3 24 | — | 0.9% | ||
| Q2 24 | -12.9% | -4.3% | ||
| Q1 24 | — | -3.1% |
每股收益（稀释后）BULLRAMP
| Q4 25 | — | $0.62 | ||
| Q3 25 | — | $0.42 | ||
| Q2 25 | — | $0.12 | ||
| Q1 25 | — | $-0.10 | ||
| Q4 24 | — | $0.17 | ||
| Q3 24 | — | $0.03 | ||
| Q2 24 | — | $-0.11 | ||
| Q1 24 | — | $-0.09 |
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 | $476.7M | $403.4M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $751.6M | $962.3M |
| 总资产 | $2.6B | $1.3B |
| 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BULLRAMP
| Q4 25 | — | $403.4M | ||
| Q3 25 | — | $376.9M | ||
| Q2 25 | $476.7M | $371.1M | ||
| Q1 25 | — | $420.8M | ||
| Q4 24 | — | $384.3M | ||
| Q3 24 | — | $348.4M | ||
| Q2 24 | — | $342.7M | ||
| Q1 24 | — | $368.9M |
股东权益BULLRAMP
| Q4 25 | — | $962.3M | ||
| Q3 25 | — | $943.8M | ||
| Q2 25 | $751.6M | $947.8M | ||
| Q1 25 | — | $948.9M | ||
| Q4 24 | — | $957.7M | ||
| Q3 24 | — | $932.1M | ||
| Q2 24 | $-2.9B | $951.9M | ||
| Q1 24 | — | $949.1M |
总资产BULLRAMP
| Q4 25 | — | $1.3B | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | $2.6B | $1.2B | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $1.2B |
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 | $272.1M | — |
| 自由现金流经营现金流 - 资本支出 | $271.7M | — |
| 自由现金流率自由现金流/营收 | 206.6% | — |
| 资本支出强度资本支出/营收 | 0.3% | 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 | — | — |
8季度趋势，按日历期对齐
经营现金流BULLRAMP
| Q4 25 | — | — | ||
| Q3 25 | — | $57.4M | ||
| Q2 25 | $272.1M | $-15.8M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $45.1M | ||
| Q3 24 | — | $55.6M | ||
| Q2 24 | — | $-9.3M | ||
| Q1 24 | — | — |
自由现金流BULLRAMP
| Q4 25 | — | — | ||
| Q3 25 | — | $56.8M | ||
| Q2 25 | $271.7M | $-16.2M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $44.8M | ||
| Q3 24 | — | $55.4M | ||
| Q2 24 | — | $-9.6M | ||
| Q1 24 | — | — |
自由现金流率BULLRAMP
| Q4 25 | — | — | ||
| Q3 25 | — | 28.4% | ||
| Q2 25 | 206.6% | -8.3% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 22.9% | ||
| Q3 24 | — | 29.8% | ||
| Q2 24 | — | -5.4% | ||
| Q1 24 | — | — |
资本支出强度BULLRAMP
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 0.3% | ||
| Q2 25 | 0.3% | 0.2% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | — | 0.1% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | 0.1% | ||
| Q1 24 | — | 1.0% |
现金转化率BULLRAMP
| Q4 25 | — | — | ||
| Q3 25 | — | 2.09× | ||
| Q2 25 | — | -2.04× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 4.02× | ||
| Q3 24 | — | 32.10× | ||
| 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
