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PATHWARD FINANCIAL, INC.（CASH）与SHENANDOAH TELECOMMUNICATIONS CO（SHEN）财务数据对比。点击上方公司名可切换其他公司
PATHWARD FINANCIAL, INC.的季度营收约是SHENANDOAH TELECOMMUNICATIONS CO的1.9倍（$173.1M vs $91.6M），PATHWARD FINANCIAL, INC.净利率更高（20.3% vs -5.9%，领先26.2%），SHENANDOAH TELECOMMUNICATIONS CO同比增速更快（7.2% vs -0.2%），PATHWARD FINANCIAL, INC.自由现金流更多（$104.1M vs $-78.6M），过去两年SHENANDOAH TELECOMMUNICATIONS CO的营收复合增速更高（15.0% vs -18.0%）
Pathward Financial, Inc.是一家总部位于美国的银行及金融服务企业，其前身为Meta金融集团旗下相关业务主体，2022年母公司将“Meta”商标出售给Meta Platforms后，正式启用现有名称。
谢南多厄电信是总部位于美国弗吉尼亚州的区域性电信服务商，面向美国中大西洋地区多州的居民及商业客户提供宽带互联网、无线通信、数字有线电视及光纤网络解决方案，重点服务乡村及城郊欠发达区域。
CASH vs SHEN — 直观对比
营收规模更大
CASH
是对方的1.9倍
$91.6M
营收增速更快
SHEN
高出7.5%
-0.2%
净利率更高
CASH
高出26.2%
-5.9%
自由现金流更多
CASH
多$182.7M
$-78.6M
两年增速更快
SHEN
近两年复合增速
-18.0%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $173.1M | $91.6M |
| 净利润 | $35.2M | $-5.4M |
| 毛利率 | — | — |
| 营业利润率 | 24.6% | -1.0% |
| 净利率 | 20.3% | -5.9% |
| 营收同比 | -0.2% | 7.2% |
| 净利润同比 | 11.9% | -95.8% |
| 每股收益（稀释后） | $1.57 | $-0.13 |
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CASHSHEN
| Q4 25 | $173.1M | $91.6M | ||
| Q3 25 | $186.7M | $89.8M | ||
| Q2 25 | $195.8M | $88.6M | ||
| Q1 25 | $274.8M | $87.9M | ||
| Q4 24 | $182.6M | $85.4M | ||
| Q3 24 | $179.5M | $87.6M | ||
| Q2 24 | $188.6M | $85.8M | ||
| Q1 24 | $257.6M | $69.2M |
净利润CASHSHEN
| Q4 25 | $35.2M | $-5.4M | ||
| Q3 25 | $38.8M | $-9.4M | ||
| Q2 25 | $42.1M | $-9.0M | ||
| Q1 25 | $75.0M | $-9.1M | ||
| Q4 24 | $30.0M | $-2.7M | ||
| Q3 24 | $33.5M | $-5.3M | ||
| Q2 24 | $44.9M | $-12.9M | ||
| Q1 24 | $69.9M | $214.7M |
营业利润率CASHSHEN
| Q4 25 | 24.6% | -1.0% | ||
| Q3 25 | 25.9% | -8.0% | ||
| Q2 25 | 24.1% | -10.3% | ||
| Q1 25 | 33.2% | -6.9% | ||
| Q4 24 | 19.8% | -6.7% | ||
| Q3 24 | 20.9% | -4.8% | ||
| Q2 24 | 27.1% | -18.5% | ||
| Q1 24 | 33.8% | -4.0% |
净利率CASHSHEN
| Q4 25 | 20.3% | -5.9% | ||
| Q3 25 | 20.8% | -10.5% | ||
| Q2 25 | 21.5% | -10.2% | ||
| Q1 25 | 27.3% | -10.4% | ||
| Q4 24 | 16.4% | -3.2% | ||
| Q3 24 | 18.7% | -6.0% | ||
| Q2 24 | 23.8% | -15.0% | ||
| Q1 24 | 27.1% | 310.0% |
每股收益（稀释后）CASHSHEN
| Q4 25 | $1.57 | $-0.13 | ||
| Q3 25 | $1.69 | $-0.20 | ||
| Q2 25 | $1.81 | $-0.19 | ||
| Q1 25 | $3.14 | $-0.19 | ||
| Q4 24 | $1.23 | $-0.34 | ||
| Q3 24 | $1.34 | $-0.13 | ||
| Q2 24 | $1.78 | $-0.24 | ||
| Q1 24 | $2.74 | $4.25 |
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 | $331.2M | $27.3M |
| 总债务越低越好 | $33.5M | $642.4M |
| 股东权益账面价值 | $854.5M | $880.8M |
| 总资产 | $7.6B | $1.9B |
| 负债/权益比越低杠杆越低 | 0.04× | 0.73× |
8季度趋势，按日历期对齐
现金及短期投资CASHSHEN
| Q4 25 | $331.2M | $27.3M | ||
| Q3 25 | $120.6M | $22.6M | ||
| Q2 25 | $258.3M | $29.1M | ||
| Q1 25 | $254.2M | $87.5M | ||
| Q4 24 | $597.4M | $46.3M | ||
| Q3 24 | $158.3M | $43.1M | ||
| Q2 24 | $298.9M | $43.8M | ||
| Q1 24 | $347.9M | $389.7M |
总债务CASHSHEN
| Q4 25 | $33.5M | $642.4M | ||
| Q3 25 | $33.5M | $535.4M | ||
| Q2 25 | $33.4M | $513.1M | ||
| Q1 25 | $33.4M | $515.8M | ||
| Q4 24 | $33.4M | $418.0M | ||
| Q3 24 | $33.4M | $345.2M | ||
| Q2 24 | $33.3M | $297.4M | ||
| Q1 24 | $33.4M | $298.7M |
股东权益CASHSHEN
| Q4 25 | $854.5M | $880.8M | ||
| Q3 25 | $858.0M | $892.7M | ||
| Q2 25 | $819.0M | $902.0M | ||
| Q1 25 | $814.7M | $910.5M | ||
| Q4 24 | $758.3M | $918.6M | ||
| Q3 24 | $822.5M | $925.4M | ||
| Q2 24 | $748.4M | $933.1M | ||
| Q1 24 | $719.5M | $871.6M |
总资产CASHSHEN
| Q4 25 | $7.6B | $1.9B | ||
| Q3 25 | $7.2B | $1.9B | ||
| Q2 25 | $7.2B | $1.8B | ||
| Q1 25 | $7.0B | $1.8B | ||
| Q4 24 | $7.6B | $1.7B | ||
| Q3 24 | $7.5B | $1.7B | ||
| Q2 24 | $7.5B | $1.7B | ||
| Q1 24 | $7.4B | $1.4B |
负债/权益比CASHSHEN
| Q4 25 | 0.04× | 0.73× | ||
| Q3 25 | 0.04× | 0.60× | ||
| Q2 25 | 0.04× | 0.57× | ||
| Q1 25 | 0.04× | 0.57× | ||
| Q4 24 | 0.04× | 0.46× | ||
| Q3 24 | 0.04× | 0.37× | ||
| Q2 24 | 0.04× | 0.32× | ||
| Q1 24 | 0.05× | 0.34× |
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 | $108.3M | $28.8M |
| 自由现金流经营现金流 - 资本支出 | $104.1M | $-78.6M |
| 自由现金流率自由现金流/营收 | 60.1% | -85.8% |
| 资本支出强度资本支出/营收 | 2.4% | 117.2% |
| 现金转化率经营现金流/净利润 | 3.08× | — |
| 过去12个月自由现金流最近4个季度 | $616.8M | $-257.9M |
8季度趋势，按日历期对齐
经营现金流CASHSHEN
| Q4 25 | $108.3M | $28.8M | ||
| Q3 25 | $303.7M | $30.7M | ||
| Q2 25 | $30.4M | $20.9M | ||
| Q1 25 | $188.3M | $20.5M | ||
| Q4 24 | $-71.7M | $20.6M | ||
| Q3 24 | $143.1M | $24.3M | ||
| Q2 24 | $113.2M | $2.5M | ||
| Q1 24 | $203.0M | $15.2M |
自由现金流CASHSHEN
| Q4 25 | $104.1M | $-78.6M | ||
| Q3 25 | $300.3M | $-51.4M | ||
| Q2 25 | $27.7M | $-65.3M | ||
| Q1 25 | $184.7M | $-62.7M | ||
| Q4 24 | $-73.8M | $-72.0M | ||
| Q3 24 | $138.8M | $-51.3M | ||
| Q2 24 | $111.0M | $-78.3M | ||
| Q1 24 | $201.3M | $-54.9M |
自由现金流率CASHSHEN
| Q4 25 | 60.1% | -85.8% | ||
| Q3 25 | 160.9% | -57.2% | ||
| Q2 25 | 14.1% | -73.7% | ||
| Q1 25 | 67.2% | -71.3% | ||
| Q4 24 | -40.4% | -84.3% | ||
| Q3 24 | 77.3% | -58.5% | ||
| Q2 24 | 58.8% | -91.3% | ||
| Q1 24 | 78.1% | -79.3% |
资本支出强度CASHSHEN
| Q4 25 | 2.4% | 117.2% | ||
| Q3 25 | 1.8% | 91.4% | ||
| Q2 25 | 1.4% | 97.3% | ||
| Q1 25 | 1.3% | 94.7% | ||
| Q4 24 | 1.1% | 108.4% | ||
| Q3 24 | 2.4% | 86.2% | ||
| Q2 24 | 1.2% | 94.2% | ||
| Q1 24 | 0.7% | 101.2% |
现金转化率CASHSHEN
| Q4 25 | 3.08× | — | ||
| Q3 25 | 7.83× | — | ||
| Q2 25 | 0.72× | — | ||
| Q1 25 | 2.51× | — | ||
| Q4 24 | -2.39× | — | ||
| Q3 24 | 4.27× | — | ||
| Q2 24 | 2.52× | — | ||
| Q1 24 | 2.90× | 0.07× |
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
CASH
| Consumer | $103.0M | 59% |
| Payment Card And Deposit Fees | $30.1M | 17% |
| Other | $24.2M | 14% |
| Rental Income | $11.6M | 7% |
| Commercial | $4.2M | 2% |
SHEN
| Residential And SMB Incumbent Broadband | $41.5M | 45% |
| Residential And SMB Glo Fiber Expansion Markets | $23.0M | 25% |
| Commercial Fiber | $20.3M | 22% |
| RLEC Other | $6.8M | 7% |
