vs
Cipher Mining Inc.（CIFR）与Ranpak Holdings Corp.（PACK）财务数据对比。点击上方公司名可切换其他公司
Ranpak Holdings Corp.的季度营收约是Cipher Mining Inc.的1.6倍（$93.7M vs $59.7M），Cipher Mining Inc.同比增速更快（41.4% vs 2.3%），过去两年Ranpak Holdings Corp.的营收复合增速更高（13.7% vs 11.4%）
Cipher Mining Inc.是总部位于美国的比特币挖矿生态运营企业，当前正全力发展加密货币相关业务，深耕加密行业上游基础设施赛道，依托技术及合规优势构建稳定高效的挖矿服务体系。
Ranpak Holdings Corp.主营生产防护纸质包装设备与纸制品，可为电商及各行业货品运输提供纸质缓冲包装方案，同时也供应自动化包装解决方案。公司总部位于美国俄亥俄州康科德，在美国本土多个州、捷克、荷兰、中国上海及新加坡均设有生产基地与办公室，产品可用于包裹缠绕、缓冲填隙、冷链运输等多种场景。
CIFR vs PACK — 直观对比
营收规模更大
PACK
是对方的1.6倍
$59.7M
营收增速更快
CIFR
高出39.1%
2.3%
两年增速更快
PACK
近两年复合增速
11.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $59.7M | $93.7M |
| 净利润 | $-734.2M | — |
| 毛利率 | 59.4% | 39.0% |
| 营业利润率 | -503.4% | -1.0% |
| 净利率 | -1229.6% | — |
| 营收同比 | 41.4% | 2.3% |
| 净利润同比 | -4293.1% | — |
| 每股收益（稀释后） | $-1.91 | $-0.11 |
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CIFRPACK
| Q4 25 | $59.7M | $93.7M | ||
| Q3 25 | $71.7M | $83.6M | ||
| Q2 25 | $43.6M | $77.8M | ||
| Q1 25 | $49.0M | $77.6M | ||
| Q4 24 | $42.2M | $91.6M | ||
| Q3 24 | $24.1M | $78.6M | ||
| Q2 24 | $36.8M | $72.8M | ||
| Q1 24 | $48.1M | $72.5M |
净利润CIFRPACK
| Q4 25 | $-734.2M | — | ||
| Q3 25 | $-3.3M | $-10.4M | ||
| Q2 25 | $-45.8M | $-7.5M | ||
| Q1 25 | $-39.0M | $-10.9M | ||
| Q4 24 | $17.5M | — | ||
| Q3 24 | $-86.8M | $-8.1M | ||
| Q2 24 | $-15.3M | $5.5M | ||
| Q1 24 | $39.9M | $-8.1M |
毛利率CIFRPACK
| Q4 25 | 59.4% | 39.0% | ||
| Q3 25 | 62.7% | 41.1% | ||
| Q2 25 | 64.8% | 37.1% | ||
| Q1 25 | 69.6% | 39.8% | ||
| Q4 24 | 56.9% | 45.2% | ||
| Q3 24 | 37.5% | 43.8% | ||
| Q2 24 | 61.2% | 43.5% | ||
| Q1 24 | 69.2% | 44.6% |
营业利润率CIFRPACK
| Q4 25 | -503.4% | -1.0% | ||
| Q3 25 | -52.5% | -6.8% | ||
| Q2 25 | -103.9% | -12.5% | ||
| Q1 25 | -77.8% | -10.3% | ||
| Q4 24 | 40.5% | 1.5% | ||
| Q3 24 | -379.2% | -5.3% | ||
| Q2 24 | -43.9% | -7.1% | ||
| Q1 24 | 97.2% | -6.6% |
净利率CIFRPACK
| Q4 25 | -1229.6% | — | ||
| Q3 25 | -4.6% | -12.4% | ||
| Q2 25 | -105.1% | -9.6% | ||
| Q1 25 | -79.6% | -14.0% | ||
| Q4 24 | 41.5% | — | ||
| Q3 24 | -359.9% | -10.3% | ||
| Q2 24 | -41.5% | 7.6% | ||
| Q1 24 | 82.9% | -11.2% |
每股收益（稀释后）CIFRPACK
| Q4 25 | $-1.91 | $-0.11 | ||
| Q3 25 | $-0.01 | $-0.12 | ||
| Q2 25 | $-0.12 | $-0.09 | ||
| Q1 25 | $-0.11 | $-0.13 | ||
| Q4 24 | $0.04 | $-0.13 | ||
| Q3 24 | $-0.26 | $-0.10 | ||
| Q2 24 | $-0.05 | $0.07 | ||
| Q1 24 | $0.13 | $-0.10 |
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 | $628.3M | $63.0M |
| 总债务越低越好 | $2.7B | $401.9M |
| 股东权益账面价值 | $805.5M | $534.9M |
| 总资产 | $4.3B | $1.1B |
| 负债/权益比越低杠杆越低 | 3.37× | 0.75× |
8季度趋势，按日历期对齐
现金及短期投资CIFRPACK
| Q4 25 | $628.3M | $63.0M | ||
| Q3 25 | $1.2B | $49.9M | ||
| Q2 25 | $62.7M | $49.2M | ||
| Q1 25 | $23.2M | $65.5M | ||
| Q4 24 | $5.6M | $76.1M | ||
| Q3 24 | $25.3M | $69.5M | ||
| Q2 24 | $122.6M | $65.1M | ||
| Q1 24 | $88.7M | $55.1M |
总债务CIFRPACK
| Q4 25 | $2.7B | $401.9M | ||
| Q3 25 | $1.0B | $403.1M | ||
| Q2 25 | $167.1M | $403.1M | ||
| Q1 25 | — | $405.2M | ||
| Q4 24 | $0 | $406.4M | ||
| Q3 24 | — | $403.2M | ||
| Q2 24 | — | $396.1M | ||
| Q1 24 | — | $396.7M |
股东权益CIFRPACK
| Q4 25 | $805.5M | $534.9M | ||
| Q3 25 | $783.2M | $537.8M | ||
| Q2 25 | $748.9M | $539.0M | ||
| Q1 25 | $734.8M | $544.1M | ||
| Q4 24 | $682.0M | $548.1M | ||
| Q3 24 | $672.0M | $564.3M | ||
| Q2 24 | $690.8M | $566.2M | ||
| Q1 24 | $600.9M | $560.0M |
总资产CIFRPACK
| Q4 25 | $4.3B | $1.1B | ||
| Q3 25 | $2.8B | $1.1B | ||
| Q2 25 | $1.0B | $1.1B | ||
| Q1 25 | $913.8M | $1.1B | ||
| Q4 24 | $855.4M | $1.1B | ||
| Q3 24 | $775.4M | $1.1B | ||
| Q2 24 | $775.6M | $1.1B | ||
| Q1 24 | $677.1M | $1.1B |
负债/权益比CIFRPACK
| Q4 25 | 3.37× | 0.75× | ||
| Q3 25 | 1.31× | 0.75× | ||
| Q2 25 | 0.22× | 0.75× | ||
| Q1 25 | — | 0.74× | ||
| Q4 24 | 0.00× | 0.74× | ||
| Q3 24 | — | 0.71× | ||
| Q2 24 | — | 0.70× | ||
| Q1 24 | — | 0.71× |
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 | $-207.9M | $19.5M |
| 自由现金流经营现金流 - 资本支出 | $-695.9M | — |
| 自由现金流率自由现金流/营收 | -1165.4% | — |
| 资本支出强度资本支出/营收 | 817.1% | — |
| 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 | $-1.1B | — |
8季度趋势，按日历期对齐
经营现金流CIFRPACK
| Q4 25 | $-207.9M | $19.5M | ||
| Q3 25 | $-50.1M | $8.5M | ||
| Q2 25 | $-56.2M | $-3.6M | ||
| Q1 25 | $-47.2M | $-1.3M | ||
| Q4 24 | $-87.5M | $6.5M | ||
| Q3 24 | $-6.5M | $10.1M | ||
| Q2 24 | $-25.4M | $19.6M | ||
| Q1 24 | $-26.6M | $5.2M |
自由现金流CIFRPACK
| Q4 25 | $-695.9M | — | ||
| Q3 25 | $-256.2M | — | ||
| Q2 25 | $-87.5M | — | ||
| Q1 25 | $-71.8M | — | ||
| Q4 24 | $-227.0M | — | ||
| Q3 24 | $-83.2M | — | ||
| Q2 24 | $-33.2M | — | ||
| Q1 24 | $-34.5M | — |
自由现金流率CIFRPACK
| Q4 25 | -1165.4% | — | ||
| Q3 25 | -357.3% | — | ||
| Q2 25 | -200.9% | — | ||
| Q1 25 | -146.7% | — | ||
| Q4 24 | -537.6% | — | ||
| Q3 24 | -345.0% | — | ||
| Q2 24 | -90.2% | — | ||
| Q1 24 | -71.7% | — |
资本支出强度CIFRPACK
| Q4 25 | 817.1% | — | ||
| Q3 25 | 287.5% | — | ||
| Q2 25 | 71.8% | — | ||
| Q1 25 | 50.2% | — | ||
| Q4 24 | 330.4% | — | ||
| Q3 24 | 317.8% | — | ||
| Q2 24 | 21.4% | — | ||
| Q1 24 | 16.4% | — |
现金转化率CIFRPACK
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -5.00× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 3.56× | ||
| Q1 24 | -0.67× | — |
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
CIFR
暂无分部数据
PACK
| Other | $47.9M | 51% |
| Europe And Asia Segment | $45.8M | 49% |
